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Rent the Runway, Inc. Announces Third Quarter 2023 Results

Retrieved on:

Tuesday, December 5, 2023

Marketing, Entrepreneurship, PIK, Oscar de la Renta, Amend, Etro, Growth, Rent the Runway, RTR, NPS, Customer, Adjustment, Life, Video game

NEW YORK, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. (“Rent the Runway” or "RTR") (NASDAQ: RENT), the world’s first and largest shared designer closet platform, today reported financial results for the fiscal quarter ended October 31, 2023.

Key Points:

Committed to Delivering Free Cash Flow Breakeven in FY 2024
Significantly Improved Inventory In-Stock Position Drove Improved Customer Satisfaction and Retention; Sets Stage for FY24 Growth
NEW YORK, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. (“Rent the Runway” or "RTR") (NASDAQ: RENT), the world’s first and largest shared designer closet platform, today reported financial results for the fiscal quarter ended October 31, 2023.
“Meanwhile, we’ve made significant strides to improve our inventory in-stock position, which we believe represents a turning point for Rent the Runway.
The third quarter 2023 Earnings Presentation is now accessible through the Investor Relations section of Rent the Runway’s website at https://investors.renttherunway.com/ under the “Presentations” section.
Rent the Runway will host a conference call and webcast to discuss its third quarter 2023 financial results and provide a business update today, December 5, 2023, at 4:30 pm ET.

Seaport Global Acquisition II Corp Announces Final Value for Redemption of Public Shares

Retrieved on:

Friday, December 1, 2023

Transfer, Acquisition, Amend, Finance Secretary (India), Security (finance)

NEW YORK, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Seaport Global Acquisition II Corp. (Nasdaq: SGII) (the “Company”), a special purpose acquisition company, today announced the final per share redemption value for its Class A redeemable shares.

Key Points:

NEW YORK, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Seaport Global Acquisition II Corp. (Nasdaq: SGII) (the “Company”), a special purpose acquisition company, today announced the final per share redemption value for its Class A redeemable shares.
As of the open of business on Monday, December 4, 2023, the Public Shares will be deemed cancelled and will represent only the right to receive the redemption amount.
Beneficial owners of Public Shares held in “street name,” however, will not need to take any action in order to receive the redemption amount.
The redemption of the Public Shares is expected to be completed on or about December 6, 2023.

Cytokinetics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Retrieved on:

Friday, December 1, 2023

Employment, Amend, SAN, Cytokinetics

SOUTH SAN FRANCISCO, Calif., Dec. 01, 2023 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) today announced that on November 30, 2023 it granted stock options to purchase an aggregate of 25,350 shares of common stock to two new employees, whose employment commenced in November 2023, as a material inducement to their employment.

Key Points:

SOUTH SAN FRANCISCO, Calif., Dec. 01, 2023 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) today announced that on November 30, 2023 it granted stock options to purchase an aggregate of 25,350 shares of common stock to two new employees, whose employment commenced in November 2023, as a material inducement to their employment.
The stock options that were granted are subject to an exercise price of $33.48 per share, which is equal to the closing price of the Company’s common stock on November 30, 2023, and will vest over 4 years, with 1/4th of the shares underlying the employee’s option vesting on the one-year anniversary of the applicable vesting commencement date and the remaining shares thereafter vesting monthly at a rate of 1/48th of the shares underlying each employee’s option over the subsequent 36 months, subject to the new employee’s continued service with the Company.
Each stock option has a 10-year term and is subject to the terms and conditions of the Company's Amended and Restated 2004 Equity Incentive Plan and the stock option agreement pursuant to which the option was granted.

Red White & Bloom Reports Results for the Three and Nine Months Ended September 30, 2023

Retrieved on:

Wednesday, November 29, 2023

Partnership, Amend, Party, OTCQX, Acquisition, Platinum, Adjustment, RWB, Investment, Growth, Automation, Beauty salon

Revenues were $20.1 million for the quarter ended September 30, 2023 (“2023-Q3”) and $69.1 million for the first nine months of fiscal 2023 (“2023-YTD”).

Key Points:

Revenues were $20.1 million for the quarter ended September 30, 2023 (“2023-Q3”) and $69.1 million for the first nine months of fiscal 2023 (“2023-YTD”).
Gross profit for 2023-YTD was $21.1 million or 31% of 2023-YTD revenues compared to gross profit of $20.8 million or 26% of 2022-YTD.
Operating expenses were $8.4 million for 2023-Q3, a decrease of $1.6 million compared to 2022-Q3 operating expenses of $10.0 million.
Operating expenses were $29.1 million for 2023-YTD, a decrease of $5.5 million compared to 2022-YTD operating expenses of $34.6 million.

Red White & Bloom Provides Update Relating to Aleafia Health

Retrieved on:

Wednesday, November 22, 2023

OTC, Amend, RWB

TORONTO, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Red White & Bloom Brands Inc. (CSE: RWB and OTC: RWBYF) (“RWB” or the “Company”) is providing an update on matters relating to Aleafia Health Inc. (“Aleafia Health”).

Key Points:

TORONTO, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Red White & Bloom Brands Inc. (CSE: RWB and OTC: RWBYF) (“RWB” or the “Company”) is providing an update on matters relating to Aleafia Health Inc. (“Aleafia Health”).
Following receipt of the approval and reverse vesting order from the Ontario Superior Court of Justice (Commercial List) on October 31, 2023, RWB has continued to work with Aleafia Health and certain subsidiaries of Aleafia Health to implement the transactions contemplated by the previously announced stalking horse asset purchase and share subscription agreement, as amended and restated on October 24, 2023 (the “Amended Stalking Horse Agreement”) among RWB, Aleafia Health and certain subsidiaries of Aleafia Health.
As of November 22, 2023, the parties to the Amended Stalking Horse Agreement have satisfied substantially all of the conditions to closing set forth in the Amended Stalking Horse Agreement.
The parties are continuing to collaboratively pursue, with the applicable government authorities, the remaining conditions required to obtain the required regulatory approvals.

Luminex Resources Announces Revised Pegasus Earn-In Terms with Anglo-American

Retrieved on:

Wednesday, December 20, 2023

Pegasus, Anglo American, Luminex, Anglo American plc, Amend

VANCOUVER, BC, Dec. 20, 2023 /PRNewswire/ - Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) (the "Company" or "Luminex") is pleased to advise that it has successfully reached agreement with a subsidiary of Anglo American plc ("Anglo American") to amend and restate the Pegasus earn-in and joint venture agreement ("Amended Earn-In Agreement").

Key Points:

VANCOUVER, BC, Dec. 20, 2023 /PRNewswire/ - Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) (the "Company" or "Luminex") is pleased to advise that it has successfully reached agreement with a subsidiary of Anglo American plc ("Anglo American") to amend and restate the Pegasus earn-in and joint venture agreement ("Amended Earn-In Agreement").
Luminex will also be owed US$3.9M by way of cash payments to complete the earn-in to 60% ownership.
Full details regarding the revised earn-in terms and schedule are below in Table 1.
Anglo American will also apply to reduce the concession size at Pegasus A based on field work completed since 2018.

Bannix Acquisition Corp. Announces Monthly Extension to Complete its Initial Business Combination

Retrieved on:

Thursday, November 16, 2023

Sponsor, Amend

WEST HOLLYWOOD, Calif., Nov. 16, 2023 (GLOBE NEWSWIRE) -- Bannix Acquisition Corp. (“Bannix”) announced today that its board of directors (the “Board”) has decided to extend the date by which Bannix must consummate an initial business combination (the “Deadline Date”) from November 14, 2023 for an additional month, to December 14, 2023.

Key Points:

WEST HOLLYWOOD, Calif., Nov. 16, 2023 (GLOBE NEWSWIRE) -- Bannix Acquisition Corp. (“Bannix”) announced today that its board of directors (the “Board”) has decided to extend the date by which Bannix must consummate an initial business combination (the “Deadline Date”) from November 14, 2023 for an additional month, to December 14, 2023.
As previously disclosed, at a special meeting of its stockholders held on March 8, 2023, Bannix’ stockholders voted in favor of a proposal to amend Bannix’s Amended and Restated Certificate of Incorporation (as amended, the “Amended Charter”) to provide Bannix with the right to extend the Deadline Date up to 12 times for an additional one month each time (the “Extension”) until March 14, 2024.
On March 9, 2023, Bannix filed the Amended Charter with the Secretary of State of the State of Delaware.
On November 14, 2023, the Board, at the request of the Sponsor, decided to implement the nine Extension and to extend the Deadline Date for an additional month to December 14, 2023.

Edgio Inc. Announces Inducement Grant Under Nasdaq Listing Rule 5635(C)(4)

Retrieved on:

Tuesday, December 12, 2023

Software, Technology, Apps, Applications, Employment, Finance Secretary (India), RSU, FP, Product management, PSU Zephyrus, Compensated emancipation, Indian stock exchange, Security (finance), Media, Edgio, Amend

The inducement grant was approved by the Company's independent directors serving on its Compensation Committee and the Company’s Board of Directors and was made as a material inducement to each of Messrs. Black’s, Hinders’, Martello’s, Morgan’s and Graham’s acceptance of employment with Edgio in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of their employment compensation.

Key Points:

The inducement grant was approved by the Company's independent directors serving on its Compensation Committee and the Company’s Board of Directors and was made as a material inducement to each of Messrs. Black’s, Hinders’, Martello’s, Morgan’s and Graham’s acceptance of employment with Edgio in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of their employment compensation.
The inducement grants consist of Restricted Stock Units (“RSUs”), Performance Restricted Stock Units (“PSUs”) and Stock Options, for an aggregate of [4,502,320] shares of the Company's common stock.
The exercise price per share applicable to the 368,499 Options granted to Mr. Martello is $0.49, the closing price of the Company’s common stock on the grant date.
The inducement grants are subject to the terms and conditions of the award agreements covering the RSUs, PSUs, and Stock Options and the Company's Amended and Restated 2021 Inducement Plan.

OFS Credit Company Declares Monthly All-Cash Common Stock Distributions for Each of the Three Months in the Quarter Ending January 31, 2024

Retrieved on:

Tuesday, November 28, 2023

Asset Management, Professional Services, Finance, Amend, Our Boarding House

The monthly distribution rate of $0.10 per common share equates to an approximate 19.4% annualized distribution rate based on closing price of the Company’s common stock of $6.18 on the Nasdaq Capital Market on October 31, 2023.

Key Points:

The monthly distribution rate of $0.10 per common share equates to an approximate 19.4% annualized distribution rate based on closing price of the Company’s common stock of $6.18 on the Nasdaq Capital Market on October 31, 2023.
Our Board intends to declare future distributions in cash, payable monthly.
“We believe our previous cash and stock distributions enabled us to strengthen our balance sheet by preserving capital,” said Bilal Rashid, Chief Executive Officer.
“We believe the current strength of our balance sheet allows us to convert to an all-cash distribution.”
On June 1, 2023, our Board approved an amended and restated dividend reinvestment plan (the “Amended DRIP”).

METALLA AND NOVA ANNOUNCE COMPLETION OF ARRANGEMENT

Retrieved on:

Friday, December 1, 2023

Under the terms of the Arrangement, each former shareholder of Nova (a "Nova Shareholder") received 0.36 of a common share of Metalla (each whole share, a "Metalla Share") for each Nova Share held immediately prior to the completion of the Arrangement (the "Consideration").

Key Points:

Under the terms of the Arrangement, each former shareholder of Nova (a "Nova Shareholder") received 0.36 of a common share of Metalla (each whole share, a "Metalla Share") for each Nova Share held immediately prior to the completion of the Arrangement (the "Consideration").
Pursuant to the Arrangement, Nova options became immediately vested, and such Nova options have been exchanged for replacement options exercisable for Metalla Shares at the same conversion ratio applicable to the Nova Shares, and any certificate or option agreement previously evidencing Nova options now evidences (and shall be deemed to evidence) such replacement options.
for those that ceased to be an employee, consultant, ‎officer or director of Nova or Metalla, as the case may be), provided that in no case shall the ‎date of expiry of any replacement option extend beyond the date that is 10 years from ‎the date of grant of the original Nova option.‎
Pursuant to the Arrangement, each restricted share unit of Nova that was outstanding immediately prior to completion of the Arrangement ("Nova RSU") was deemed to be fully vested and settled in Nova Shares, which Nova Shares participated in the Arrangement.
The consideration that a holder of Nova RSUs is entitled to receive under the Arrangement may be subject to tax withholdings in accordance with the Arrangement.