Note

Avolta enhances financial position with successful refinancing initiative

Retrieved on: 
Friday, May 3, 2024
Debt-to-GDP ratio, CHF, Senior, EUR, Growth, Note, Security (finance)

Avolta AG (SIX: AVOL), the leading global travel experience player, has announced the successful completion of its refinancing initiative, further enhancing its financial flexibility by extending its average debt maturity.

Key Points: 
  • Avolta AG (SIX: AVOL), the leading global travel experience player, has announced the successful completion of its refinancing initiative, further enhancing its financial flexibility by extending its average debt maturity.
  • Following the successful placement of the EUR 500 million Senior Notes due 2031 last week, Avolta has successfully completed its refinancing initiatives with the closing of a cash tender offer to existing bondholders of the outstanding EUR 800 million Senior Notes due 2024.
  • Commenting on this, Yves Gerster, Avolta’s Chief Financial Officer, said: “We are very pleased to announce a successful refinancing.
  • This significantly extends our debt maturity, enhances our financial flexibility and underscores investor confidence in our robust growth trajectory.”

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Avid Bioservices, Inc. - CDMO

Retrieved on: 
Thursday, May 2, 2024
Sale, LLP, News, Pomerantz, CDMO, Annual report, Note

NEW YORK, May 02, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Avid Bioservices, Inc. (“Avid” or the “Company”) (NASDAQ: CDMO).

Key Points: 
  • NEW YORK, May 02, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Avid Bioservices, Inc. (“Avid” or the “Company”) (NASDAQ: CDMO).
  • The investigation concerns whether Avid and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
  • On March 12, 2024, Avid announced the need to restate its financial performance over several quarters in 2022 and 2023.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

Cumulus Media Announces Expiration and Final Results of Exchange Offer and Consent Solicitation

Retrieved on: 
Thursday, May 2, 2024
Exchange offer, Settlement date, CMLS, Exchange, Exercise, Senior, Old, Credit, Note, Security (finance)

The Exchange Offer expired at midnight, New York City Time, on May 1, 2024 (the "Expiration Time").

Key Points: 
  • The Exchange Offer expired at midnight, New York City Time, on May 1, 2024 (the "Expiration Time").
  • In addition, neither this announcement nor the Exchange Offer was an offer to participate in the Term Loan Exchange Offer.
  • The Exchange Offer is conditioned upon the consummation of the Term Loan Exchange Offer and there can be no assurances that the Term Loan Exchange Offer will be consummated on the terms described in the Offering Memorandum or at all.
  • The Term Loan Exchange Offer is also conditioned upon the consummation of the Exchange Offer.

Avid Bioservices (CDMO) Quantifies Wrongful Accounting Due to Misclassification of $146 Million of 2026 Notes as Long-Term Liabilities – Hagens Berman

Retrieved on: 
Thursday, April 25, 2024
Failure, CDMO, Sale, Heart, Hagens Berman, Person, Note, Security (finance)

In so doing, Avid admitted that it understated current liabilities by about 141% and overstated net income by about 116%.

Key Points: 
  • In so doing, Avid admitted that it understated current liabilities by about 141% and overstated net income by about 116%.
  • The heart of the matter lies in the misclassification of certain notes as long-term liabilities.
  • The spotlight is now on $143.8 million of 1.250% exchangeable senior notes due in 2026, known as the “2026 Notes.” These notes were privately placed with qualified institutional investors back in Mar.
  • “We’re investigating whether Avid Bioservices may have intentionally misled investors about its debt,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

BE Semiconductor Industries N.V. Announces Q1-24 Results

Retrieved on: 
Thursday, April 25, 2024
EDT, Treasury, Convertible, Webcast, Weakness, Smartphone, Share repurchase, Growth, Note

DUIVEN, the Netherlands, April 25, 2024 (GLOBE NEWSWIRE) -- BE Semiconductor Industries N.V. (the “Company" or "Besi") (Euronext Amsterdam: BESI; OTC markets: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the first quarter ended March 31, 2024.

Key Points: 
  • Richard W. Blickman, President and Chief Executive Officer of Besi, commented:
    “Besi delivered solid first quarter results in an extended assembly market downturn.
  • Revenue of € 146.3 million was above the midpoint of prior guidance and represented a 9.7% increase versus Q1-23.
  • As a result, Besi’s total principal amount of Convertible Notes outstanding decreased to € 200.5 million at April 25, 2024.
  • A conference call and webcast for investors and media will be held today at 4:00 pm CET (10:00 am EDT).

Bombardier Reports Significant Backlog Growth on 1.6 Unit Book-to-Bill, Expanded Margins and Service Revenues Increase in First Quarter of 2024

Retrieved on: 
Thursday, April 25, 2024
Aircraft, Table, Service, PP, Note, Hand, TSX, MD, Growth, PP&E, Martel, Bombardier Inc., Senior, Eye, EPS, Movement, Bank statement

MONTRÉAL, April 25, 2024 (GLOBE NEWSWIRE) -- Bombardier Inc. (TSX: BBD.B) reported today its financial results for the first quarter of 2024, marked by a robust increase in service revenues and order activity.

Key Points: 
  • MONTRÉAL, April 25, 2024 (GLOBE NEWSWIRE) -- Bombardier Inc. (TSX: BBD.B) reported today its financial results for the first quarter of 2024, marked by a robust increase in service revenues and order activity.
  • The company sold 60% more jets in the first quarter of 2024 compared to 2023, bringing backlog(5) up to $14.9 billion.
  • “Our team came flying out of the gates in 2024 on soaring aircraft orders and service revenues.
  • Orders remained strong across Bombardier’s portfolio of aircraft, recording a 60% increase compared to the same quarter last year.

Avid Bioservices Reports Financial Results for Third Quarter Ended January 31, 2024

Retrieved on: 
Wednesday, April 24, 2024
Debt-to-GDP ratio, Element, Acceleration, Probability, Depreciation, Security (finance), Convertible, CGT, Forecasting, CDMO, Environment, Operating cost, Acquisition, Quarter, Name, Biotechnology, GAAP, Note, Video game

TUSTIN, Calif., April 24, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ: CDMO), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced financial results for the third quarter and nine months ended January 31, 2024.

Key Points: 
  • Highlights from the Quarter Ended January 31, 2024, and Other Events:
    "I would first like to address the reasons for our delayed 10-Q filing for the third quarter of fiscal 2024,” stated Nick Green, president and CEO of Avid Bioservices.
  • “I will now turn to the positive results for our third quarter and first nine months of fiscal 2024.
  • “During the third quarter we had stronger revenues and an increase in bookings as compared to Q2 2024.
  • More detailed financial information and analysis may be found in Avid Bioservices’ Quarterly Report on Form 10-Q, which was filed with the Securities and Exchange Commission today.

Weatherford Announces $130 Million Credit Facility Increase to $680 Million and Notice to Redeem All of Its 6.50% Senior Notes Due 2028

Retrieved on: 
Tuesday, April 23, 2024
Debt-to-GDP ratio, Weatherford International, WFRD, Credit, Note, Line of credit, Bank

The facility is now comprised of a $309 million tranche available for performance letters of credit and a $371 million tranche available for revolving loans.

Key Points: 
  • The facility is now comprised of a $309 million tranche available for performance letters of credit and a $371 million tranche available for revolving loans.
  • The Company also announced notice to redeem (the “Redemption”) the remaining $81,502,600 aggregate principal amount outstanding of its 6.50% Senior Notes due 2028 (the “2028 Notes”).
  • Weatherford expects to redeem the 2028 Notes before the end of May.
  • Girish Saligram, President and Chief Executive Officer of Weatherford, commented, "Today's announcements highlight our continued progress in fortifying our capital structure.

First Community Bankshares, Inc. Announces First Quarter 2024 Results and Quarterly Cash Dividend

Retrieved on: 
Tuesday, April 23, 2024
Sale, Table, FTE, ROE, News, Treasury, Interest, GAAP, Note, Bank

The Company reported net income of $12.85 million, or $0.71 per diluted common share, for the quarter ended March 31, 2024.

Key Points: 
  • The Company reported net income of $12.85 million, or $0.71 per diluted common share, for the quarter ended March 31, 2024.
  • The Company also declared a quarterly cash dividend to common shareholders of twenty-nine cents $0.29 per common share.
  • The quarterly dividend is payable to common shareholders of record on May 10, 2024, and is expected to be paid on or about May 24, 2024.
  • The increase in cash and cash equivalents is primarily attributable to an increase in federal funds sold of $142.63 million.

Bombardier Completes Partial Redemption of US$200,000,000 of its 7.875% Senior Notes due 2027

Retrieved on: 
Monday, April 22, 2024
Debt-to-GDP ratio, Sale, Bombardier Inc., Prospectus, FICC, Depository Trust Company, Note, Security (finance)

MONTRÉAL, April 22, 2024 (GLOBE NEWSWIRE) -- Bombardier Inc. (“Bombardier”) today announced that it has redeemed US$200 million principal amount of its outstanding 7.875% Senior Notes due 2027 (the “Redemption Notes”) as set forth in the notice of partial redemption issued March 22, 2024.

Key Points: 
  • MONTRÉAL, April 22, 2024 (GLOBE NEWSWIRE) -- Bombardier Inc. (“Bombardier”) today announced that it has redeemed US$200 million principal amount of its outstanding 7.875% Senior Notes due 2027 (the “Redemption Notes”) as set forth in the notice of partial redemption issued March 22, 2024.
  • Payment of the redemption price and surrender of the Redemption Notes for redemption are being made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company.
  • The Redemption Notes mentioned herein have not been and will not be registered under the United States Securities Act of 1933, as amended, any state securities laws or the laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.
  • The Redemption Notes mentioned herein have not been and will not be qualified for distribution to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the securities in Canada may only be made on a basis which is exempt from the prospectus requirements of such securities laws.