Category: Business

Business News from around the world.

Executive Network Partnering Corporation Files Preliminary Proxy for Special Meetings to Consider Stock Split

BOSTON–(BUSINESS WIRE)–Executive Network Partnering Corporation (the “Company” or “ENPC”) (NYSE: ENPC, ENPC.U, and ENPC WS) today filed a preliminary proxy statement on Schedule 14A (the preliminary proxy statement) with the U.S. Securities and Exchange Commission (SEC) to hold special meetings of stockholders and warrant holders to authorize a potential stock split (2.5 shares for every …

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LightJump Acquisition Corporation Announces the Separate Trading of its Class A Common Stocks and Warrants Commencing on March 2, 2021

NEW YORK–(BUSINESS WIRE)–LightJump Acquisition Corp. (NASDAQ: LJAQU) (“the company”) today announced that the holders of the Company’s units may elect to separately trade the Class A common stock and warrants underlying such units commencing on March 2, 2021. Those units not separated will continue to trade on the NASDAQ exchange under the symbol “LJAQU” and …

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KBRA Assigns Preliminary Ratings to Pagaya AI Debt Selection Trust 2021-1

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Pagaya AI Debt Selection Trust 2021-1 (“PAID 2021-1”), a consumer loan ABS transaction. This transaction is the second publicly rated securitization for Pagaya Investments US LLC (“Pagaya”). Pagaya is a 100% owned subsidiary of Pagaya Technologies Ltd., which …

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Berry Global Group, Inc. Announces Pricing of Private Placement Notes Offering

EVANSVILLE, Ind.–(BUSINESS WIRE)–Berry Global Group, Inc. (NYSE: BERY) (“Berry”) announced today the pricing of the private placement launched February 26, 2021, by its wholly owned subsidiary, Berry Global, Inc. (the “Issuer”). The Issuer will issue $775,000,000 of first priority senior secured notes due 2026 (the “New Notes”). The New Notes will be an additional issuance …

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CI Global Asset Management Announces Plan to Merge CI Galaxy Bitcoin Fund into CI Galaxy Bitcoin ETF

The proposed merger will deliver lower fees, better market pricing mechanics and greater convenience for unitholders of the closed-end fund TORONTO–(BUSINESS WIRE)–CI Global Asset Management (“CI GAM”) today announced proposed changes to CI Galaxy Bitcoin Fund (TSX: BTCG), a closed-end investment fund. As previously announced, CI GAM has filed and obtained a receipt for a …

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Acquisition of Common Shares of TRU Precious Metals Corp. by Altius Resources Inc.

ST. JOHN’S, Newfoundland and Labrador–(BUSINESS WIRE)–$ALS.TO—Altius Resources Inc. (“Altius”), a subsidiary of Altius Minerals Corporation (TSX:ALS) (OTCQX:ATUSF) announced today that pursuant to an option agreement dated February 23, 2021 with TRU Precious Metals Corp.(TSXV: TRU) (“TRU”), with its head office at 70 Trius Drive, Fredericton, New Brunswick E3B 5E3, it has the right to acquire …

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STORE Capital Releases 2020 Annual Stockholder Letter

SCOTTSDALE, Ariz.–(BUSINESS WIRE)–STORE Capital Corporation (NYSE: STOR), an internally managed net-lease real estate investment trust (REIT) that invests in Single Tenant Operational Real Estate, today announced the release of its 2020 annual letter to stockholders authored by Chief Executive Officer Christopher H. Volk. The letter may be viewed and downloaded from STORE Capital’s Investor Relations …

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Dine Brands Global, Inc. to Present at Virtual Raymond James Investors Conference

GLENDALE, Calif.–(BUSINESS WIRE)–Dine Brands Global, Inc. (NYSE: DIN), the parent company of Applebee’s Neighborhood Grill & Bar® and IHOP® restaurants, today announced that management will present during the virtual Raymond James 42nd Annual Institutional Investors Conference on Wednesday, March 3, 2021 at 9:30 a.m. Pacific Time. A live webcast of the presentation will be available …

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Colicity Inc. Announces Closing of $345 Million Initial Public Offering

NEW YORK–(BUSINESS WIRE)–Colicity Inc. (the “Company”) announced the closing today of its initial public offering of 34,500,000 units, including the underwriters’ exercise of their full over-allotment option for 4,500,000 units, at a price of $10.00 per unit. The units are listed on the NASDAQ Stock Market (NASDAQ) and began trading under the ticker symbol “COLIU” …

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Magellan Health Reports 2020 Financial Results

PHOENIX–(BUSINESS WIRE)–Magellan Health, Inc. (NASDAQ: MGLN) today announced financial results for the fourth quarter and the year ended December 31, 2020, as summarized below:   Three Months Ended Twelve Months Ended December 31 December 31 (In millions, except per share amounts) Continuing Operations 2020 2019 Chg 2020 2019 Chg Net revenue $ 1,185.0   $ …

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First Keystone Corporation Announces First Quarter and Special Dividends

BERWICK, Pa.–(BUSINESS WIRE)–First Keystone Corporation (the “Corporation”) (OTC PINK: FKYS), parent company of First Keystone Community Bank, declared a $0.27 per share quarterly cash dividend and a $0.01 per share special dividend to shareholders of record as of March 11, 2021, payable March 31, 2021. Quarterly cash dividends and the special cash dividend amounted to …

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RiverNorth Launches RiverNorth Flexible Municipal Income Fund II, Inc. with MacKay Municipal Managers™*

CHICAGO–(BUSINESS WIRE)–RiverNorth Capital Management, LLC (“RiverNorth”), an investment management firm specializing in opportunistic strategies, announced the launch of the RiverNorth Flexible Municipal Income Fund II, Inc. (the “Fund”), a new municipal focused closed-end fund. RiverNorth will act as the investment adviser to the Fund and MacKay Shields LLC (“MacKay Shields”) will act as subadviser. This …

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AM Best Withdraws Credit Ratings of Church Life Insurance Corporation

OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Church Life Insurance Corporation (Church Life) (New York, NY). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn the ratings as the company has requested to no longer …

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PGIM High Yield Bond Fund, Inc., PGIM Global High Yield Fund, Inc. and PGIM Short Duration High Yield Opportunities Fund declare distributions for March, April and May 2021

NEWARK, N.J.–(BUSINESS WIRE)–$PRU–PGIM High Yield Bond Fund, Inc. (NYSE: ISD), PGIM Global High Yield Fund, Inc. (NYSE: GHY) and PGIM Short Duration High Yield Opportunities Fund (NYSE: SDHY) declared today monthly distributions for March, April and May 2021. The distribution amounts and schedule for each fund appears below: Fund Name   Ticker   Distribution Per …

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Bimini Capital Management to Announce Fourth Quarter 2020 Results

  VERO BEACH, Fla.–(BUSINESS WIRE)–Bimini Capital Management, Inc. (OTCBB:BMNM) (“Bimini” or the “Company”), today announced that it will release results for the fourth quarter of 2020 following the close of trading on the New York Stock Exchange on Thursday, March 11, 2021. Earnings Conference Call Details An earnings conference call and live audio webcast will …

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AM Best Assigns Issuer Credit Rating to Austral Participações S.A.

OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has assigned the Long-Term Issuer Credit Rating (Long-Term ICR) of “bb+” to Austral Participações S.A. (Austral). The outlook assigned to this Credit Rating is positive. Concurrently, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of “bbb+” of Austral Resseguradora S.A. (Austral Re) and Austral Seguradora S.A. …

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KBRA Assigns Preliminary Ratings to GCAT 2021-NQM1 Trust (GCAT 2021-NQM1)

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to six classes of mortgage-backed notes from GCAT 2021-NQM1 Trust (GCAT 2021-NQM1), a $289.4 million non-prime RMBS transaction. The underlying collateral, comprising 535 residential mortgages, is characterized by a notable concentration of alternative income documentation, with 88.6% of the loans underwritten using 12 month or …

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Planisware Exceeds $100 Million in Global Revenue in 2020  

SAN FRANCISCO–(BUSINESS WIRE)–Planisware today announced strong results for 2020, continuing an eight-year growth streak, achieving revenue of $105 million, with North America registering 33% growth. This outstanding result came from multiple new lighthouse accounts, including Archer-Daniels-Midland, McKinstry, Kabam and Lear, coupled with significant expansion among existing accounts, including Pfizer and Lilly, and industry-leading retention among …

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AM Best Downgrades Credit Ratings of American Millennium Insurance Company and Citadel Reinsurance Company Limited; Maintains Under Review With Negative Implications Status

OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has downgraded the Financial Strength Rating (FSR) to C- (Weak) from C++ (Marginal) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “cc” from “b+” of American Millennium Insurance Company (AMIC) (Bridgewater, NJ), a wholly owned subsidiary of Citadel Reinsurance Company Limited (Citadel Re) (Hamilton, Bermuda). Additionally, AM Best has downgraded …

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