Term

Verastem Oncology Reports Fourth Quarter and Full Year 2022 Financial Results and Highlights Recent Company Progress

Retrieved on: 
Tuesday, March 14, 2023
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Verastem Oncology (Nasdaq: VSTM), a biopharmaceutical company committed to advancing new medicines for patients with cancer, today reported financial results for the three months and full year ended December 31, 2022, and highlighted recent progress.

Key Points: 
  • Verastem Oncology (Nasdaq: VSTM), a biopharmaceutical company committed to advancing new medicines for patients with cancer, today reported financial results for the three months and full year ended December 31, 2022, and highlighted recent progress.
  • Verastem Oncology ended the fourth quarter of 2022 with cash, cash equivalents and investments of $87.9 million.
  • Research & development expenses for the 2022 Quarter were $10.7 million, compared to $11.4 million for the 2021 Quarter.
  • Selling, general & administrative expenses for the 2022 Quarter were $6.1 million, compared to $5.7 million for the 2021 Quarter.

CytoSorbents Reports Fourth Quarter and Full Year 2022 Results

Retrieved on: 
Thursday, March 9, 2023
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PRINCETON, N.J., March 09, 2023 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification via its proprietary polymer adsorption technology, today reported financial and operating results for the quarter and year ended December 31, 2022 and provides its 2023 outlook.

Key Points: 
  • For the years ended December 31, 2022 and 2021, cost of revenue was approximately $13,956,000 and $11,047,000, respectively, an increase of approximately $2,909,000.
  • Product cost of revenues increased approximately $698,000 during the year ended December 31, 2022 as compared to the year ended December 31, 2021.
  • Product gross margins were approximately 70% for the year ended December 31, 2022 and approximately 80% for the year ended December 31, 2021.
  • The 2022 loss is directly related to the decrease of the exchange rate of the Euro as of December 31, 2022 as compared to December 31, 2021.

Navios Maritime Partners L.P. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2022

Retrieved on: 
Tuesday, February 21, 2023
Photon, Aurora, Cosmos, Dorado, Bank statement, MR2, Morning Star (N-Dubz song), Speaker of the House of Commons (United Kingdom), Libor, VLCC, NYSE, Term, Acquisition, EBITDA, Sale, NMM, Chemical tanker, Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc., Panamax, Exercise, Oil, Bank, Shipbuilding, Video game, Airline, Beauty salon, Cryptocurrency, Petroleum, Renting, Capesize, Navios Maritime Holdings

Angeliki Frangou, Chairwoman and Chief Executive Officer of Navios Partners stated, “I am pleased with the results for the full year and the fourth quarter of 2022.

Key Points: 
  • Angeliki Frangou, Chairwoman and Chief Executive Officer of Navios Partners stated, “I am pleased with the results for the full year and the fourth quarter of 2022.
  • During the fourth quarter of 2022, Navios Partners entered into long-term charters which are expected to generate revenue of approximately $328 million.
  • The Board of Directors of Navios Partners declared a cash distribution for the fourth quarter of 2022 of $0.05 per unit.
  • In September 2022, Navios Partners completed the acquisition of a 36-vessel drybulk fleet from Navios Maritime Holdings Inc. (“Navios Holdings”).

Krach Institute for Tech Diplomacy at Purdue Names Daniel Kurtenbach Chief Growth Officer

Retrieved on: 
Monday, February 6, 2023
Technology, Security, Public Policy, Government, Networks, Government Technology, White House, Federal Government, University, Education, Defense, MBA, Organization, Private sector, Global-Tech Appliances, Inc. v. SEB S.A., State, Small business, Purdue University, Trust, Authoritarianism, Council, Harvard Kennedy School, Kurtenbach, Business Executives for National Security, Professional, Atlantic Council, Term, Diplomacy, Freedom, Krach, Security Commission, Commission, Infantry, Silicon, Georgia Sustainment and Stability Operations Program, Foreign policy, MIT Sloan School of Management, Intelligence, White House Fellows, Policy, Partnership, Growth, Army, Johns Hopkins University, MPA, Multimedia, STEM, BS, Management, Cryptocurrency

The Krach Institute for Tech Diplomacy at Purdue continues to expand its senior leadership team with the appointment of Daniel Kurtenbach as Chief Growth Officer.

Key Points: 
  • The Krach Institute for Tech Diplomacy at Purdue continues to expand its senior leadership team with the appointment of Daniel Kurtenbach as Chief Growth Officer.
  • View the full release here: https://www.businesswire.com/news/home/20230206005271/en/
    As Chief Growth Officer, Kurtenbach will focus on driving the growth of the Institute through strategic partnerships with companies, institutions and countries that enhance the Institute’s capabilities, expand its global reach and impact.
  • (Photo: Business Wire)
    Kurtenbach joins the Institute from DataRobot, where he served as Director of the company’s defense and intelligence portfolio.
  • In partnership with the Atlantic Council, the Krach Institute for Tech Diplomacy at Purdue launched the Global Tech Security Commission in 2022 to safeguard freedom from technological authoritarianism.

Verastem Oncology Outlines Key 2023 Strategic Priorities and Upcoming Catalysts for Advancing Avutometinib as a Backbone of Therapy for RAS Pathway-Driven Cancers

Retrieved on: 
Thursday, February 2, 2023
Oncology, Health, FDA, General Health, Clinical Trials, Pharmaceutical, Biotechnology, Verastem Oncology, Breakthrough, Security, Everolimus, Investment, RAMP, Food and Drug Administration, Diagnosis, Safety, Term, Preferred stock, Breakthrough therapy, Patient, Food, RAS, Completeness, KRAS, Part, NSCLC, Pancreatic cancer, Pharmaceutical industry, Medical imaging, Dietary supplement, Security (finance)

Verastem Oncology (Nasdaq:VSTM), a biopharmaceutical company committed to advancing new medicines for patients battling cancer, today outlined key strategic priorities and upcoming catalysts to support its lead compound RAF/MEK clamp avutometinib in RAS pathway-driven cancers.

Key Points: 
  • Verastem Oncology (Nasdaq:VSTM), a biopharmaceutical company committed to advancing new medicines for patients battling cancer, today outlined key strategic priorities and upcoming catalysts to support its lead compound RAF/MEK clamp avutometinib in RAS pathway-driven cancers.
  • The combination of avutometinib and defactinib was selected as the go-forward treatment regimen for the recurrent LGSOC program.
  • Progress signal-finding, investigator-initiated trial program of combinations with avutometinib in additional RAS pathway-driven cancers with high unmet need.
  • Verastem Oncology closed on the initial tranche of 1.2 million shares of Preferred Stock for a purchase price of $30 million on January 27, 2023.

Caesars Entertainment, Inc. Announces Pricing of Offering of Senior Secured Notes

Retrieved on: 
Monday, January 23, 2023
Hand, Term, Security (finance), CRC, Regulation, Sale, Person, SEC Rule 144A, Teachers 3: A New Term, Issuer, CZR, Caesars Entertainment, Senior, Note

LAS VEGAS and RENO, Nev., Jan. 23, 2023 /PRNewswire/ -- Caesars Entertainment, Inc. (NASDAQ: CZR) (the "Company," "Caesars" or the "Issuer") today announced the pricing of its previously announced offering of Senior Secured Notes due 2030 (the "Notes") at an interest rate of 7.00% per annum and an issue price equal to 100% of the principal amount of the Notes.

Key Points: 
  • LAS VEGAS and RENO, Nev., Jan. 23, 2023 /PRNewswire/ -- Caesars Entertainment, Inc. (NASDAQ: CZR) (the "Company," "Caesars" or the "Issuer") today announced the pricing of its previously announced offering of Senior Secured Notes due 2030 (the "Notes") at an interest rate of 7.00% per annum and an issue price equal to 100% of the principal amount of the Notes.
  • The offering is expected to close on or about February 6, 2023, subject to customary closing conditions.
  • The aggregate principal amount of the Notes to be issued in the offering was increased to $2,000.0 million from the previously announced $1,250.0 million.
  • The Notes will be guaranteed on a senior secured basis by each existing and future wholly-owned domestic subsidiary of the Company that is a guarantor with respect to the Company's senior secured credit facilities (the "CEI Credit Agreement") and its existing 6.25% Senior Secured Notes due 2025 (the "Subsidiary Guarantors"), once certain regulatory approvals are obtained.

2U Announces Debt Refinancing Transactions

Retrieved on: 
Monday, January 9, 2023
8-K, Morgan Stanley, EBITDA, Term loan, Lead arranger, Holland & Knight, Investment, Primary Dealer Credit Facility, Term, Goldman Sachs, 2U, Shearman, Sale, Security (finance), Retail, Note

LANHAM, Md., Jan. 9, 2023 /PRNewswire/ -- 2U, Inc. (Nasdaq: TWOU), a leading online education platform company, today announced that it has entered into an agreement to refinance its term loan, extending the maturity date from December 2024 to December 2026, and amending other terms. In connection with amending and extending the term loan, the company has entered into agreements to secure approximately $127 million of new capital from Greenvale Capital LLP, a current stockholder of the company, and The Berg Family Trust, in the form of $147 million in principal amount of 4.50% Senior Unsecured Convertible Notes due 2030 (the "Notes"). The company intends to use cash from its balance sheet and the proceeds from the issuance of the Notes to reduce secured term loan debt by $187 million to $380 million. The combination of reduced secured debt and extended maturities will significantly strengthen the company's credit profile.  The closing of the Notes and the refinancing are subject to customary closing conditions.

Key Points: 
  • The combination of reduced secured debt and extended maturities will significantly strengthen the company's credit profile.
  • The closing of the Notes and the refinancing are subject to customary closing conditions.
  • This refinancing represents a significant milestone for the company and is a testament to the strength of the business and its financial position.
  • "We are excited to start 2023 with this important first step to optimize our balance sheet," said 2U Chief Financial Officer Paul Lalljie.

MSP Recovery, Now Doing Business as LifeWallet, Entered into a Term Sheet for the Monetization of a Portion of Its Company-owned Assignor Interests as a New Source of Monetization for $275 Million, and Payment of $48 Million in Servicing Fees for 2023

Retrieved on: 
Tuesday, January 3, 2023
NIL, MSP, Ecosystem, Partnership, Health, CANO, CORAL, PLTR, Term sheet, Healthcare industry, Foundry, Patient, NYSE, Term, Assignment (law), Athlete, Lawyer, MDL, Sale, Medicare, Medicaid, Health insurance, Cryptocurrency, Palantir Technologies

In certain circumstances, LIFW has acquired the assignor’s 50% interest up-front by purchasing the assignor’s contractual right to collect at the time of recovery.

Key Points: 
  • In certain circumstances, LIFW has acquired the assignor’s 50% interest up-front by purchasing the assignor’s contractual right to collect at the time of recovery.
  • The Term Sheet also provides for the Company to acquire certain claims for $330 million that pertain to the entire claim rights, as well as certain Assignor Interests.
  • “These deals demonstrate that there is significant value in the variety of ways in which MSPR’s assets can be monetized.
  • “We are excited to continue innovating and disrupting the healthcare system and believe that we have great momentum heading into 2023,” said Ruiz.

Save A Lot Announces Successful Refinancing Transactions

Retrieved on: 
Thursday, January 5, 2023
Supermarket, Retail, Discount, Variety, Food, Beverage, Growth, Save-A-Lot, Term loan, Credit, FILO, Sale, Term, ABL, Bank, Supermarket, Retail, Discount, Variety, Food, Beverage

Moran Foods, LLC (Save A Lot) today announced the successful closing, effective December 30, 2002, on the refinancing of debt facilities put in place at the time of the Company’s 2020 restructuring.

Key Points: 
  • Moran Foods, LLC (Save A Lot) today announced the successful closing, effective December 30, 2002, on the refinancing of debt facilities put in place at the time of the Company’s 2020 restructuring.
  • A total of approximately $22 million of existing Second-Lien Term Loans were not extended and will mature on October 1, 2024.
  • The Company also extended $15 million of commitments under the Super-Senior Credit Facility to June 30, 2026.
  • The benefits of this include improved liquidity, increased operational flexibility, and lower borrowing costs,” said Leon Bergmann, Chief Executive Officer of Save A Lot.

Long Ridge Equity Partners Announces Three Promotions

Retrieved on: 
Wednesday, January 4, 2023
Asset Management, Professional Services, Finance, Yale University, Babson College, Advisory board, ESG, History, Council, DEI, Penn Biden Center for Diplomacy and Global Engagement, National Safety Council, Entrepreneurship, Fidelity Investments, Business administration, Nike Flywire, White House, Barack Obama, United Nations Security Council, United States Department of State, Drawbridge, Risk, Mentorship, Growth, United States Department of Homeland Security, Barclays, Financial technology, Dartmouth College, Harvard Business School, Term, McKinsey & Company, Phi Beta Kappa, NSC, Investment, Amazon, University of Cambridge, Bank, Financial services

Long Ridge Equity Partners (“Long Ridge”), a private equity firm focused on the financial and business technology sectors, today announced the promotions of Andrew Cedar and Jason Melton to Partner, and Doug Nelson to Principal.

Key Points: 
  • Long Ridge Equity Partners (“Long Ridge”), a private equity firm focused on the financial and business technology sectors, today announced the promotions of Andrew Cedar and Jason Melton to Partner, and Doug Nelson to Principal.
  • All three promotions support the continued growth of Long Ridge and the firm’s organic approach to team-building: recruiting top junior talent and developing/promoting from within.
  • “These promotions represent the well-deserved recognition of these individuals, who have been instrumental to Long Ridge’s growth and success,” said Jim Brown, Founder and Managing Partner at Long Ridge.
  • Prior to Long Ridge, Andrew was at McKinsey & Company, where he reported directly to the Global Managing Partner.