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$JG Partners with Kuaishou to Improve Monetization EfficiencyAurora Mobile $JG Partners with Kuaishou to Improve Monetization Efficiency $JG today announced that it has entered into a partnership agreement with Kuaishou Technology (01024.HK) (“Kuaishou”), China’s leading short video content community and social platform, to improve advertising monetization efficiency. By leveraging its powerful artificial intelligence (“AI”) and advanced analysis technologies, Aurora Mobile's advertisement SaaS services will enable Kuaishou to help brands and performance-based advertisers to accurately target potential customers, enhance advertising conversion rate, reduce operational costs, and promote a mutually beneficial relationship between Kuaishou and advertisers on its platform. The short-form video market continues to experience huge growth. Short-form video advertising that features high traffic and conversion rates has become a preferred marketing approach for many brands and performance-based advertisers. According to the cooperation agreement, Aurora Mobile will benefit from a revenue share agreement based on advertising revenues allocated to Kuaishou if the labels provided by Aurora Mobile are used by advertisers on the platform. finance.yahoo.com
NASDAQ:JG
by AlenCiken
$MGNI Surges on Its $1.17 Billion Deal for SpotX$MGNI Magnite to Acquire SpotX Magnite (Nasdaq: MGNI), the largest independent sell-side advertising platform, today announced that it has entered into a definitive agreement to acquire SpotX from RTL Group for $1.17 billion in cash and stock. SpotX is one of the leading platforms shaping CTV and video advertising globally. Deal Creates Largest Independent CTV & Video Advertising Platform Full year 2020 combined company estimated non-GAAP net revenue would have been $350 million on a pro forma basis(1)(2) Combined company Connected TV (CTV) & video net revenue would have represented approximately 67% of total company preliminary non-GAAP pro forma net revenue(1)(2) in Q4 2020 On a combined basis, the CTV business would have nearly tripled to $42 million in Q4 2020 versus Magnite standalone, or approximately 34% of Q4 2020 preliminary non-GAAP pro forma net revenue(1)(2) The non-CTV video business of the combined company would have represented approximately 33% of Q4 2020 preliminary non-GAAP pro forma net revenue(1)(2) SpotX total preliminary non-GAAP net revenue(1)(2) for 2020 was $116 million, of which $67 million was CTV Purchase price consists of $560 million in cash and 14 million shares of Magnite stock, for a total of $1.17 billion based on the closing price of Magnite stock as of February 4, 2021 Magnite’s preliminary results for Q4 2020 include GAAP Revenue of $82 million, up 69% on an as-reported basis, and up 20% on a pro forma basis from Q4 2019, with CTV revenue of $15.3 million, up 53% on a pro forma basis(1) Net income of $5.8 million and Adjusted EBITDA(3) of $29.9 million, representing a 36% adjusted EBITDA margin(4) Together, Magnite and SpotX will serve some of the world’s leading programmers, broadcasters, platforms and device manufacturers, including A+E Networks, Crackle Plus, The CW Network, Discovery, Disney/Hulu, Electronic Arts, Fox Corporation, fuboTV, Microsoft, Newsy, Philo TV, Pluto TV, Roku, Samsung, Sling TV, Tubi, ViacomCBS, Vizio, Vudu, WarnerMedia and Xumo. finance.yahoo.com
NASDAQ:MGNI
by AlenCiken
$AREC Announces Filing of SPAC Registration Statement$AREC American Resources Corporation Announces Filing of SPAC Registration Statement $AREC Company's SPAC is targeting acquisitions in the land holding and resource industry, and will focus on advancing land and resource assets towards a modern-day business model of clean energy, recycling and redevelopment, and social impact. $AREC today announced that American Acquisition Opportunity Inc., a special purpose acquisition company (the "SPAC" or "AAOI"), in which the Company has an indirect investment, filed a Registration Statement on Form S-1 (the "Registration Statement") with the Securities and Exchange Commission ("SEC") on February 4, 2021 in connection with a proposed initial public offering of its units. The proposed public offering is expected to have a base offering size of $100 million, or up to $115 million if the underwriters' over-allotment option is exercised in full. finance.yahoo.com
NASDAQ:AREC
by AlenCiken
3
Sabra Capital Partners places a $7 target on SupercomSeeking alpha: Sabra Capital Partners places a $7 target on Supercom. Explosive Potential, Limited Downside: We view the base level value of the Company to be $7.00 per share based on a multi-year estimate that revenues will rebound back to $35mm. High conviction. While none of its coronavirus tracking pilots have materialized into a formal, large scale contract, news is gaining momentum in the Company’s backyard, Israel. seekingalpha.com
NASDAQ:SPCB
by AlenCiken
2
Teradata Soars on Strong Earnings and Demand for CloudTeradata Soars on Strong Earnings and Demand for Cloud Shares soared Friday after the data-analytics company reported stronger-than-expected fourth-quarter earnings (triple-digit cloud growth), benefiting from corporate demand for enterprise software and cloud services. Annual recurring revenue (ARR) increased 11% from the prior year period(1) Public cloud ARR increased to $106 million, a 165% increase from the end of 2019(1) Fourth-quarter recurring revenue of $383 million versus $350 million, an increase of 9% reported and 8% in constant currency , and exceeded the Company’s guidance of $371 million to $373 million(1) Fourth-quarter earnings per diluted share (EPS), cash from operations and free cash flow(2) exceeded the Company’s expectations finance.yahoo.com
NYSE:TDC
by AlenCiken
Why ATA Creativity Skyrocketed 951% yesterdayWhy ATA Creativity Skyrocketed 951% yesterday There does not appear to be any direct news from the company. But it seems like that there was some coordination by day traders on social media. ATA shares were buoyed — thanks to discussions stock trading groups on Facebook, Discord chat rooms, the r/Daytrading subreddit, Twitter hashtags, and YouTube channels before the market opened. Many of these posts mentioned the advantages of the high volume and relatively low float (31.74M) of the stock. ATA Creativity is not on the list of most talked about stocks on r/WallStreetBets, as compiled by Swaggystocks.
NASDAQ:AACG
by AlenCiken
23andMe to Merge with Virgin Group's VG Acquisition Corp. SPAC23andMe to Merge with Virgin Group's VG Acquisition Corp. to Become Publicly-Traded Company Set to Revolutionize Personalized Healthcare and Therapeutic Development through Human Genetics. - 23andMe is a leading consumer genetics and research company that offers a personalized health and wellness experience, and has built a premier genetic database to unlock insights leading to the rapid discovery of promising new targets for drug development - Transaction will provide the capital to fund additional investment in key growth initiatives across 23andMe's consumer health and therapeutics businesses - The transaction will value the outstanding shares of capital stock of 23andMe at an aggregate enterprise value of approximately $3.5 billion - 23andMe CEO and Co-Founder Anne Wojcicki and Virgin Group's Sir Richard Branson are each investing $25 million into the $250 million PIPE and are joined by leading institutional investors including Fidelity Management & Research Company LLC, Altimeter Capital, Casdin Capital and Foresite Capital - The pro forma cash balance of the combined company will exceed $900 million at closing Completion of the transaction, estimated in the second calendar quarter of 2021. 23andMe is the only consumer genetic testing company with multiple FDA clearances for over-the-counter health and carrier status reports. 23andMe's existing equity holders will roll 100% of their equity into the combined company. Assuming no public shareholders of VG Acquisition Corp. exercise their redemption rights, 23andMe will be capitalized with up to $984 million in cash to fund operations and support new and existing growth initiatives. finance.yahoo.com
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by AlenCiken
A Boomer's Guide To WSB's LingoI’m Markus Heitkoetter and I’ve been an active trader for over 20 years. I often see people who start trading and expect their accounts to explode, based on promises and hype they see in ads and e-mails. They start trading and realize it doesn’t work this way. The purpose of these articles is to show you the trading strategies and tools that I personally use to trade my own account so that you can grow your own account systematically. Real money…real trades. WallStreetBets Lingo I wanted to do a special episode today that’s for us, the older people. The Boomers, The Gen X, & well, basically everybody above 40. See, it has been such a crazy week. There has been insane volatility and volume on stocks like GME , AMC , BB , and then recently Silver. Most of it has been in the hands of the WallStreetBets crowd, and it’s really easy to get overwhelmed with what exactly these folks are saying on the WallStreetBets forum. I mean, they’re using terms like “tendies,” “YOLO,” and “boomers.” So today I want to help you and me to cut through the noise and define some of the terms that you might be seeing on WallStreetBets if you’ve been going to this forum. GME & WallStreet Bets Recap Now, before I do this, let’s take a minute to recap what’s been going on. You see, WallStreetBets is a popular forum on Reddit with millions of followers. At the time of this writing, they have now about 8.2 million followers. That’s up from around 2 million at the beginning of the week. They decided to go after hedge funds, especially short-sellers, and chose a few heavily shorted stocks as targets and drove prices up. Now, ultimately, these short-sellers are the ones who are mocking the small account traders, had to close their positions at a massive, massive loss. Now the most famous being talked about is (GME) which is GameStop. Wow! It went from around $40 all the way up to $418, but then the stock went down, mainly because of the extreme limitations that online brokers put on the stock. Robinhood, for example, was only allowing traders to buy 20 shares of (GME). I mean, come on, that’s a joke. WallStreetBets Lingo Now back to why I’m writing this article. You might have been peeking into the WallStreetBets forum to see what’s going on, and you may have been confused by all the terms they’re using. This is why I want to show you the ten most common terms that you’ll see on this forum, and I’ll explain to you what they mean. 1. STONKS Now, “stonks” started as a meme a few years back and was used in reaction to what others thought were bad trading stock choices. Now on WallStreetBets, it is used as a more general term for stocks that they might be trading. 2. NEWBIE The term “newbie” is an easy one, and it refers to a rookie trader who is new to trading. 3. BOOMER Now, we are talking again about boomers and a “boomer” is what the WallStreetBets crowd used to describe an older person. Somebody actually called me a boomer. I thought that being 51 years old made me apart of Gen X, but I guess boomer has become more of a generic term for anyone over 40 or so, at least in the WallStreetBets forums. 4. BAGHOLDER Now, another popular term being thrown around is “bagholder.” What are bagholders here? Bagholders are traders who have taken a heavy loss in a stock. In other words, they’re left holding the bag. In the WSB's forum somebody said, “Glad I found a WSB, I like the stock, and all of you guys and I don’t mind being the bagholder now or in the end.” This is a person was suffering a pretty massive loss, and this is what would be referred to as a “bagholder.” 5. TENDIES You may have also seen “tendies” being used quite a bit, and tendies refer to the profits a trader makes off a stock. Traders like to use that chicken or drumstick emoji when they’re talking about tendies. There was an awesome individual, on the forum who posted that they were using some of their GME tendies to buy Nintendo switches from GameStop and then donated them to a children’s hospital, which I think is amazing. 6. YOLO One that you may have already heard is “YOLO,” and it’s an acronym for You Only Live Once. Someone in the forum said, “Just YOLO’d 330k dollars to keep this party going to the moon.” We’ll talk about “to the moon” here in a moment. I’ve also seen it used like, “Hey, I just wired it, I yolo’d it.” You only live once, right? 7. DIAMOND HANDS Number 7 on this list is “Diamond Hands.” When somebody mentions diamond hands, it means that they’re holding their position no matter what. Even when they are suffering through some massive drawdowns, so the diamond and the hand emojis are also used in reference for diamond hands. One of the most famous diamond hands on WallStreetBets, is someone who posted a $5,000,000 loss, but overall, he still nicely up. But, hey, look, that is a big loss. This is where you need diamond hands, right? 8. PAPER HANDS So now, on the other hand, and this is where we go to term number eight, which is the term “paper hands.” So what are paper hands? It’s the opposite of diamond hands, meaning if someone has paper hands, they’re nervous, and they sell their position instead of holding it. So these are the people who are selling GameStop right now. All right. 9. APES So now, on the other hand, and this is where we go to term number eight, which is the term “paper hands.” So what are paper hands? It’s the opposite of diamond hands, meaning if someone has paper hands, they’re nervous, and they sell their position instead of holding it. So these are the people who are selling GameStop right now. All right. 9. APES So you’ll see things like “apes stay strong” or also sometimes you’ll see “I’m happy that I’m with you degenerates” because this is what they are referring to themselves in this community. So it basically means that this is a community, and they’re in this together. 10. TO THE MOON Now, the last one here is “to the moon.” that already mentioned. So to the moon is their profit target, right? “Volume is low. Don’t believe the news. GME is going to the moon.” and this profit target is fairly wide open. For GME at some point, the target was defined at a thousand. This is a very, very high-profit target, which seems to be “the moon” they’re referring to, and traders are also using the Rocketship emoji to reference to the moon. So these are the top 10. Summary Me personally, I am staying away from these crazy stocks, or stonks, right? They’re fun to watch, but I personally prefer SRC profits. So what does this mean? It means profits that are Systematic, Repeatable, and Consistent. I know sounds super boring, but you see, it works very well for me. I’m getting too old for the YOLO mentality, you only live once. And you see, just yesterday I wired my January profits from my trading account into my checking account. It was a little bit over $21,000. Boring? Yes, but it pays the bills, right?
NYSE:GMEEducation
by rockwelltrading
9
Why $NAKD Stock crashed Down Sharply from last week?Why $NAKD Stock crashed Down Sharply from last week? The WallStreetBets short squeeze continued to unravel this week with investors pocketing gains and latecomers hoping for a second bounce. A number of factors are driving the ongoing sell-off as $NAKDe stock peaked last week. The first is that many short-sellers closed out their bets as the stocks soared last week, riding a massive short squeeze and gamma squeeze. Second, savvy traders who rode the stocks up sold it to take profits. Third, fundamentals matter, and stocks will naturally revert to their mean barring any significant change in fundamentals. After all, a stock is a part-ownership in a business, not a lottery ticket. So the possibility of a short squeeze is diminished, and the "easy money" has come and gone. Traders who now buy any of these three stocks are banking on another pump-and-dump rally to lift them. Investors should also be aware that $NAKD stock is still significantly above historical trading level and fundamentals are weak, meaning stock could fall significantly further. www.fool.com
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by AlenCiken
7
New Executive Leadership to Drive Bitcoin Mining OperationsSino-Global Announces New Executive Leadership to Drive Bitcoin Mining Operations Expansion announced today that the newly appointed Chief Operating Officer Mr. Lei Nie and Chief Technology Officer Mr. Xintang You will spearhead the Company's effort to enter Bitcoin mining. As Sino-Global evaluates its strategy for 2021 and beyond, the planned Bitcoin mining expansion follows a series of steps in preparation. The plan utilizes leadership team members who specialize in information technology, Blockchain, cryptocurrency mining operations and more. Given the Company's plan to enhance the traditional logistics service platform through leveraging innovative technologies, the Company is excited to explore opportunities created by current market conditions and enter the cryptocurrency sector. finance.yahoo.com
S
by AlenCiken
Payoneer to Become Publicly Traded Company Through FTACPayoneer to Become Publicly Traded Company Through Combination With FTAC Olympus Acquisition Corporation Payoneer processed more than $44 billion in volume in over 7,000 trade corridors in 2020 Transaction assigns Payoneer $3.3 billion pro-forma implied enterprise value upon , representing a 7.6x multiple of 2021 expected revenue of $432 million. The cash component of the purchase price to be paid to the equity holders of Payoneer is expected to be funded by FTOC's cash in trust (minus any redemptions by FTOC's existing public stockholders). Includes commitments for $300 million PIPE from investor group including existing investor Wellington Management, as well as Dragoneer Investment Group, Fidelity Management & Research Company LLC, Franklin Templeton, certain funds managed by Millennium Management, funds and accounts advised by T. Rowe Price Associates, Inc., and Winslow Capital Management, LLC Following the Reorganization, the Company is expected to have up to $563 million in cash, offering significant capital flexibility for continued organic and inorganic growth. Existing Payoneer equity holders have the potential to receive an earnout of additional shares of common stock if certain stock price targets are met as set forth in the reorganization agreement, and they will remain the largest investors by rolling over significant equity into the Company. The transaction is expected to close during the first half of 2021. finance.yahoo.com
F
by AlenCiken
Acquires Exclusive Rights to Rare Earth Element InnovationsAmerican Resources Corporation Acquires Exclusive Rights to Purdue University's Rare Earth Element Innovations, Critical for Clean Energy Technologies. An environmentally safer method of rare earth and other critical material separation and purification using ligand-assisted chromatography for coal, coal byproducts, recycled permanent magnets and Lithium Ion batteries. Announced that, with the addition of Hasler Ventures LLC, the Company has licensed ligand assisted displacement ("LAD") chromatography patents and knowhow to further expanded its capability in environmentally friendly separation and purification of rare earth elements. These exclusive patents and technologies, developed at Purdue University, are specific to the processing of separated and pure rare earth metals and critical elements from coal byproducts, recycled permanent magnets and lithium-ion batteries. Rare earth elements (REEs) include the 15 elements in the lanthanide series plus scandium (Sc) and yttrium (Y). They are essential ingredients for magnets, metal alloys, polishing powders, catalysts, ceramics, and phosphors, which are important for high-technology and clean energy applications. The global REE market is estimated at approximately $4 billion dollars and growing at 8% per year. finance.yahoo.com
NASDAQ:AREC
by AlenCiken
2
100% Survival Achieved in Osteosarcoma Lung MetastasesMoleculin Announces 100% Survival Achieved in Osteosarcoma Lung Metastases Animal Model a preclinical study in animals demonstrated a potentially significant therapeutic benefit of Annamycin against metastatic osteosarcoma. Computerized tomography (CT) scans demonstrated that animals treated with Annamycin exhibited significant suppression of tumor growth and not a single death was observed in the treated animals, whereas significant tumor burden contributed to the rapid death of 90% of untreated animals. While the study continues, as of day 130, the survival rate for animals treated with Annamycin was 100%, compared with only 10% for untreated animals. Annamycin is a "next generation" anthracycline that has recently been shown in animal models to accumulate in the lungs at up to 34 times the level of doxorubicin, which may account for the 100% survival rate attained in this most recent osteosarcoma lung metastases study. Moleculin recently announced that the FDA has allowed the Company's request for investigational new drug (IND) status in order to study Annamycin for the treatment of soft tissue sarcoma metastasized to the lungs. In addition, the FDA granted Orphan Drug Designation for Annamycin for the treatment of soft tissue sarcomas. "We expect that one, and potentially two, clinical trials in sarcoma lung metastases should be up and running this year." finance.yahoo.com
NASDAQ:MBRX
by AlenCiken
Pattern Day Trader RuleI’m Markus Heitkoetter and I’ve been an active trader for over 20 years. I often see people who start trading and expect their accounts to explode, based on promises and hype they see in ads and e-mails. They start trading and realize it doesn’t work this way. The purpose of these articles is to show you the trading strategies and tools that I personally use to trade my own account so that you can grow your own account systematically. Real money…real trades. Now I want to talk to you about the pattern day trader rule because this rule requires that you have at least $25,000 in your trading account if you are day trading. Here’s the tricky part. The tricky part is that you could trigger this rule even if you’re only swing trading, and not day trading, which is why it’s important that you are aware of what the pattern day trader rule is. I will give you examples of what can trigger it, even if it’s accidentally, and I’ll break down what then happens if you trigger it. Most importantly, I want you to be aware of how you can avoid it. What Is The Pattern Day Trader Rule? So what is the pattern day trader rule? According to FINRA, who set the rule, a pattern day trader is a trader if you execute 4 or more day trades in 5 trading days. So if you execute 4 or more day trades in 5 trading days, then you’re being flagged as a pattern day trader. This is not a good thing. So what actually is a day trade? A day trade is a trade that you open and close, during a trading day. So as an example, if you buy a stock at the open, at 9:30 Eastern Time, and then sell it before 4:00 pm Eastern Time, you are placing a day trade. Now, very, very important: this whole rule only applies to stocks and options. It does not apply to futures, forex, or binary options. It only applies to stocks and options. How To Trigger The Pattern Day Trader Rule How can you actually trigger this rule even if you’re swing trading? Well, it actually happened to me very recently. My head coach, Mark Hodge, and I, we were trading with our Mastermind members. I asked Mark to place a trade in my account, but he accidentally placed it in the wrong account. When something like this happens, I have a rule. “When you make a mistake, liquidate.” So I asked Mark to close the position, and when he did that counted as a day trade. So we opened the trade, realized we made a mistake and closed it right away. This lead to me having one strike in this account. And again, if we would get 4 strikes within 5 business days, then we are flagged as pattern day traders. Now, here’s another scenario. Let’s say that we enter a trade tomorrow and it hits the profit target or stop loss on the same day. So this would be another strike because now we are also entering and exiting during a trading day. So as you can see with this, even if you’re not day trading, it is possible that this could happen a few times. If this happens 4 times within 5 trading days, then you’re flagged as a pattern day trader. What Happens When You Trigger The PDT Rule? What happens when you trigger this rule? Well, first of all, if you have more than $25,000 in your account, nothing happens. This is because the pattern day trader rule says, if you are a pattern day trader, then you need to have $25,000 in your account. Now if you don’t have $25,000 in your account, then you will be restricted to trade on a cash basis only for 90 days. What does this mean? Well, see, as a day trader, you actually do need a margin account, and when you trigger the pattern day trader rule and cannot put $25,000 in there, this means that now you are restricted to trading with cash only. So let me give you an example. Let’s say you are trading the Wheel trading strategy, and you put $20,000 in an account. This means if you put it into a margin account, that you get $40,000 in buying power. So when you trigger the day trading pattern rule, you no longer get this buying power here, the 2:1 leverage. You are now basically going back to whatever cash you put in there when you trigger this rule. How To Avoid Triggering The PDT Rule? Now the question is, how can you avoid this? Well, and I want to give you three tips for how to avoid it. Number one, have $25,000 in your account because if you have $25,000 in the account, then triggering the rule won’t matter. What about if you don’t. Number two, you want to make sure that you count the number of day trades. Leave the date you placed a day trade on a sticky note, and count the number of day trades that you do even if it is accidental, so you can keep track of how many strikes you have. Number three, you can avoid it here by trading a cash account. So if you’re not trading a margin account, you don’t have to worry about it. Then, of course, if you are trading futures, forex, bitcoins, so cryptocurrencies, or if you are trading binary options, this is also when the day trading pattern rule does not really matter. Summary Now you know what the pattern day trader rule is, how you can trigger it, even if it is accidentally, what happens when you trigger it, and how you can avoid this. So let me ask you this, at this point, was this helpful at all? If so, feel free to share this video on Facebook, on Twitter, and I’ll see you for the next article.
NASDAQ:NDXEducation
by rockwelltrading
1
ANVS401 Improves Cognitive and Functional Outcomes in StrokeAnnovis Bio's Lead Candidate ANVS401 Improves Cognitive and Functional Outcomes in Stroke Mice Study data showing that a combination treatment using the Company's lead candidate ANVS401 and pifithrin after stroke improved mice locomotor activity and cognitive function more so than treatment with just one or the other agent. While both treatments yielded improvements in locomotor and cognitive function, the combined ANVS401/PFT- treatment proved able to enhance stroke-induced endogenous neurogenesis and improve the functional recovery in stroke animals. The combined treatment also significantly improved cognitive function more than the single treatment with PFT- alone. finance.yahoo.com
A
by AlenCiken
Simufilam Improves Cognition and Behavior in Alzheimer’s DiseaseCassava Sciences’ Simufilam Improves Cognition and Behavior in Alzheimer’s Disease in Interim Analysis of Open-label Study - Patients’ Cognition Improved 1.6 Points on ADAS-Cog11 -a 10% mean improvement from baseline to month 6. - Patients’ Behavior Improved 1.3 Points on NPI, a 29% mean improvement from baseline to month 6. - Improvements Maintained at 6 Months - - Results Support Advancing Simufilam into Phase 3 Clinical Program Next Steps: Cassava Sciences believes today’s data and prior clinical results support advancing simufilam into a Phase 3 clinical program in Alzheimer’s disease. Initiation of a Phase 3 trial remains on schedule for 2nd half 2021. Cassava Sciences and the U.S. FDA recently concluded a successful end-of-phase 2 (EOP2) meeting for the simufilam drug development program. Details of the EOP2 meeting will be announced Q1 2021 after official FDA meeting minutes are finalized. finance.yahoo.com
NASDAQ:SAVA
by AlenCiken
GSM Announces potential financing arrangements being discussedFerroglobe Announces Discussions with Ad Hoc Group of Noteholders and Key Financial Partners Ferroglobe PLC (the “Company”) entered into confidentiality agreements (the “Confidentiality Agreements”) with certain holders (the “Ad Hoc Group of Noteholders”) of the 9.375% Senior Notes due 2022 (the “Notes”) issued by the Company and Globe Specialty Metals, Inc., to facilitate discussions addressing the maturity of the Notes and the introduction of further capital to the Company. The key highlights of the potential financing arrangements being discussed between the AHG and the Company are as follows: A major recapitalization of the business with $100 million of additional liquidity which guarantees sufficient funding to implement the Company’s strategic plan $60 million of new super senior notes provided by existing Noteholders $40 million of new equity funding Significant extension of the Company’s debt maturity profile as a result of a par exchange of the Notes with new senior secured notes with a 5 year tenor Equity allocation of 3.75% to all supporting holders of the Notes facilitating greater alignment of all stakeholders with management on strategy and long-term value creation The Company is negotiating with key stakeholders, including its largest shareholder Grupo Villar Mir, S.A.U., the injection of equity that is required to implement the proposed plan and is aiming to enter into a binding agreement with the Ad Hoc Group of Noteholders and equity providers reflecting the outcome of the discussions as soon as possible (although no assurance can be made that the discussions will be successful or that the new funding will be implemented). The contemplated financings offer Ferroglobe a stronger balance sheet and incremental capital which, in turn, provide a sound foundation for transforming the Company. the Company has been diligently evaluating various refinancing options to address its senior notes, alongside raising incremental capital. Collectively we are working towards a comprehensive financing that eliminates near-term refinancing risks, providing greater operational flexibility, and secures cash for the implementation of our plan. finance.yahoo.com
NASDAQ:GSM
by AlenCiken
Silver Miner’s retail investor-Fueled SurgeSilver-exposed stock $ASM climbed early on Monday, after a surge in retail trading pushed the price of the precious metal to an eight-year high. Silver has rallied in recent days as some users on social media have seemingly turned their attention to the metal. “What we don’t know is exactly how this is happening,” said Markets.com analyst Neil Wilson. “Clearing out of shorts by worried hedge funds, retail-driven bid, ETFs flows driving the physical market, smart-money front-running the trade, or a combination of all these,” he added. The surge came after the dual-listed miner, which has a silver operation in Mexico, disclosed last week plans to sell up to $25 million of newly issued shares into the U.S. market. Exactly what kinds of investors are behind the current run-up in metal prices and silver-exposed stocks is uncertain, but clearly opportunities have arisen. A number of posts on the WallStreetBets forum advocated buying silver, while #silversqueeze has also been trending on Twitter. However, many posts also argued against the trade. “The issuer community will flood the market with capital raises, particularly the U.S.-listed ones who can access the superior liquidity with ‘at the market’ equity issuances,” www.barrons.com finance.yahoo.com
AMEX:ASM
by AlenCiken
Latch to Merge with TSIA SPAC and Become Publicly Listed CompanyLatch, Maker of Full-Building Enterprise SaaS Platform LatchOS, to Merge with Tishman Speyer-Sponsored SPAC and Become Publicly Listed Company Provides Capital to Accelerate Latch's Expansion and Drive Enhanced Growth; More Than One-in-Ten New Apartments in the U.S. Built with LatchOS in 2019 Latch to Have up to $510 Million in Cash, Including $190 Million in PIPE Investments Anchored by Funds and Accounts Managed by BlackRock, D1 Capital Partners, Durable Capital Partners LP, Fidelity Management & Research Company LLC, Chamath Palihapitiya, The Spruce House Partnership, Wellington Management, ArrowMark Partners, Avenir and Lux Capital -- Transaction Values Latch at Equity Value of $1.56 Billion Post-Money The Company has booked over 300,000 units across more than 35 states, with one in ten new multifamily apartments in the United States built with Latch in 2019. "Latch has successfully created an entire ecosystem around our full building operating system, devices, and partners that enhances the building experience for both owners and residents," The Company has generated strong results to date, including $167 million in Booked Revenue1 in 2020, which represents 49 percent growth from 2019; zero customer churn leading to 100 percent Gross Revenue Retention2; and a strong SaaS company Lifetime Value (LTV) to Customer Acquisition Costs (CAC) ratio of 6.8x3. The transaction, which has been unanimously approved by TSIA's board of directors, is expected to close in the second quarter of 2021. finance.yahoo.com
T
by AlenCiken
Sunlight Financial LLC to List on NYSE Through Merger With SPRQSunlight Financial LLC, a Premier Residential Solar Financing Platform, to List on NYSE Through Merger With Apollo-Affiliated Spartan Acquisition Corp. II Sunlight and Apollo-Affiliated Spartan Acquisition Corp. II (NYSE: SPRQ) Enter Into Business Combination Agreement Institutional Investors Led By Chamath Palihapitiya, Coatue, Funds and Accounts Managed by BlackRock, Franklin Templeton and Neuberger Berman Commit to Invest $250 Million at Closing in Common Stock PIPE at $10.00 per Share Pro Forma Implied Equity Value of the Combined Company is Approximately $1.3 Billion Sunlight has arranged financing for more than an estimated 100,000 residential solar systems, which will produce over 500 megawatts of solar-generated electricity and avoid more than 10 million metric tons of carbon dioxide emissions. Leading POS platform through which over $3.5 billion of loans have been originated in the rapidly growing residential solar market Upon the closing of the transaction, existing Sunlight equityholders are expected to own approximately 50% of the combined company, Spartan stockholders are expected to own approximately 26%, and PIPE participants are expected to own approximately 19%. The transaction is expected to close in the second quarter of 2021. finance.yahoo.com
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by AlenCiken