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Occidental Announces Cash Tender Offers and Consent Solicitations for Certain of its Senior Notes and Debentures
Globenewswire· 2026-02-19 11:45
Core Viewpoint - Occidental has initiated cash tender offers for its outstanding senior notes and debentures, along with consent solicitations for certain series, as detailed in their Offer to Purchase and Consent Solicitation Statement dated February 19, 2026 [1][5]. Summary by Relevant Sections Tender Offers - Occidental is offering to purchase up to $700 million in aggregate principal amount of various notes, including Zero Coupon Senior Notes due 2036, 6.125% Senior Notes due 2031, 6.625% Senior Notes due 2030, and 7.200% and 7.950% Debentures due 2029 [5][11]. - The company will only accept up to $58 million of the Zero Coupon Senior Notes due 2036, subject to the order of priority [5][10]. Consent Solicitations - As part of the tender offers, Occidental is soliciting consents from holders of specific notes for proposed amendments that would eliminate certain covenants and change the notice period for redemptions [11][12]. - Holders must tender their notes to deliver consents, and the proposed amendments will become operative upon acceptance of the requisite principal amount [12][13]. Key Dates - The tender offers and consent solicitations will expire at 5:00 p.m. New York City time on March 19, 2026, unless extended or terminated earlier [6][8]. - Early tender time is set for 5:00 p.m. on March 4, 2026, with early settlement expected three business days after this date [7][9]. Financial Details - The total consideration for each $1,000 principal amount of notes validly tendered will be determined based on a fixed spread over the yield of the applicable U.S. Treasury security [6][7]. - Holders of notes tendered will also receive accrued and unpaid interest from the last payment date to the settlement date [7][9]. Management and Agents - Citigroup Global Markets Inc. is the sole Lead Dealer Manager for the tender offers, with several co-managers assisting [14].
Pecoy Copper Intersects 1,014 m of 0.37% Cu and 0.13 g/t Au from 17 m, Extending 407 m Below Resource Pit Shell
Globenewswire· 2026-02-19 11:45
Core Insights - Pecoy Copper Corp. has reported initial assay results from its Phase 1 drill program at the Pecoy Project in southern Peru, highlighting significant copper-gold-molybdenum-silver mineralization [1][4][18] - The first drill hole, PEC-25-065, intersected approximately 1,186 meters of continuous mineralization, confirming the scale and vertical continuity of the South Breccia system [1][3][4] Summary by Sections Drill Results - Hole PEC-25-065 provided a continuous deep section through the South Breccia system, demonstrating hydrothermal brecciation and stockwork-style veining from surface to approximately 1,186 meters depth [3][9] - The hole ended in a transitional brecciation zone, indicating the presence of a porphyry architecture [3][10] - Significant intersections include: - 1,169.25 meters at 0.33% Cu, 0.11 g/t Au, 1.20 g/t Ag, and 0.013% Mo from 17.00 meters depth [4] - Higher-grade sections include 700 meters at 0.43% Cu, 0.14 g/t Au, 1.49 g/t Ag, and 0.019% Mo from 246 meters [7][10] Resource and Exploration Potential - The current inferred resource at the Pecoy Project is 865 million tonnes at 0.34% Cu, with additional credits from gold, molybdenum, and silver [4][18] - The mineralization encountered in the first hole is approximately 407 meters below the current resource pit shell, with grades exceeding the average of the existing resource [4][11] - The South Breccia is noted for its coherent geometry and strong continuity, remaining open laterally and at depth [11][18] Phase 1 Drilling Progress - Approximately 3,000 meters have been drilled in the Phase 1 program, with two holes completed and two additional holes in progress [12] - The drilling program aims to test and expand the higher-grade ore body and evaluate depth potential [11][12] Project Overview - The Pecoy Project is a large, undeveloped porphyry system located in a prolific copper belt in southern Peru, with favorable topography and year-round access [18][30] - The project benefits from excellent infrastructure, including proximity to highways and deep-water ports, facilitating efficient advancement from exploration to development [30]
Donegal Group Inc. Announces Fourth Quarter and Full Year 2025 Results
Globenewswire· 2026-02-19 11:30
Financial Performance Summary - Donegal Group Inc. reported a net income of $17.2 million for Q4 2025, a decrease of 28.4% compared to $24.0 million in Q4 2024, with diluted Class A earnings per share falling to $0.47 from $0.70 [2][3][43] - For the full year 2025, net income increased to $79.3 million, up 56.0% from $50.9 million in 2024, with diluted Class A earnings per share rising to $2.18 from $1.53 [2][3][45] - Total revenues for Q4 2025 were $240.1 million, down 3.9% from $250.0 million in Q4 2024, while full-year revenues decreased by 1.2% to $978.0 million from $989.6 million [2][3][45] Premiums and Underwriting - Net premiums earned decreased by 4.1% to $226.9 million in Q4 2025, and by 1.7% to $921.2 million for the full year [2][3][45] - The combined ratio for Q4 2025 was 96.3%, up from 92.9% in Q4 2024, while the full-year combined ratio improved to 95.4% from 98.6% [3][12] - The loss ratio for Q4 2025 increased to 61.1% from 59.8% in Q4 2024, while the full-year loss ratio decreased to 61.3% from 64.5% [15][19] Investment Performance - Investment income for Q4 2025 was $14.2 million, a 17.5% increase from $12.1 million in Q4 2024, and for the full year, it rose to $52.6 million from $44.9 million [2][26] - Net investment losses for Q4 2025 were $1.7 million, compared to minimal gains in Q4 2024, attributed to realized losses on strategic sales of fixed-maturity securities [27][28] Strategic Focus and Outlook - The company aims for modest premium growth in 2026 through independent agency partners in identified attractive geographies and business classes [5] - Management emphasized the importance of strategic decisions made over the past years that contributed to solid operating performance [5][6] Book Value and Shareholder Returns - Book value per share increased to $17.33 at the end of 2025, up from $15.36 at the end of 2024, driven by net income and unrealized gains in the investment portfolio [29][45] - The company declared quarterly cash dividends of $0.1825 per share for Class A and $0.165 per share for Class B, paid on February 17, 2026 [35]
Freudenberg extends offer period until 8 April 2026 and issues an update on the regulatory approvals and acceptances related to its takeover offer for Nilfisk Holding's shareholders
Globenewswire· 2026-02-19 11:19
Core Viewpoint - Freudenberg has extended the offer period for its takeover of Nilfisk Holding until April 8, 2026, to allow more time for obtaining necessary regulatory approvals [1][2]. Offer Details - The initial offer period has been extended to April 8, 2026, as indicated in the Supplement to the Offer Document [1][5]. - The Offeror has received merger control clearance in the United States, but other required regulatory approvals are still pending [2]. - As of the latest update, approximately 81.22% of Nilfisk's share capital has accepted the offer, but the minimum acceptance condition has not been met [3]. Regulatory Approvals - The Supplement to the Offer Document has been approved by the Danish Financial Supervisory Authority (FSA) [4]. - All terms and conditions of the Offer remain unchanged except for the extended offer period [5]. Timetable for the Offer - Key dates include: - April 8, 2026: Expiry of the extended offer period [7]. - April 9, 2026: Publication of preliminary results of the Offer [7]. - April 13, 2026: Latest expected announcement of the final result of the Offer [7]. - April 15, 2026: Expected date for settlement of the Offer Price per share [9]. Company Overview - Nilfisk, founded in 1906, is a global provider of professional cleaning equipment and services, with over 90% of sales directed to professionals [10]. - The company operates in more than 100 countries and has manufacturing sites in the US, Mexico, Hungary, Italy, and China, employing approximately 4,500 people [11]. - In 2024, Nilfisk generated revenue of €1,027.9 million, with the largest market being the US, accounting for 28% of revenue [11].
Xanadu and Tower Semiconductor Deepen Strategic Collaboration to Accelerate Photonic Quantum Hardware Innovation
Globenewswire· 2026-02-19 11:00
Core Insights - Tower Semiconductor and Xanadu are expanding their collaboration to develop advanced silicon photonics for fault-tolerant quantum computers, leveraging Tower's high-volume silicon photonics platform [1][3] - The partnership aims to create a manufacturing-aligned platform for next-generation photonic quantum hardware, focusing on scalability and performance for large-scale quantum information processing [2][4] Company Developments - Xanadu's CEO highlighted the importance of the collaboration with Tower in transitioning their hardware from concept to prototype, emphasizing the combination of architectural breakthroughs and manufacturing expertise [3] - Tower Semiconductor's Vice President noted the broad applicability of their platform across various advanced domains, including quantum computing, data centers, telecom, and automotive applications [3] Technical Focus - Current efforts are directed at optimizing critical components using standard product flows for ultra-low loss silicon nitride (SiN) and integrated photodiodes, validating Xanadu's photonic circuit designs on a high-volume manufacturing platform [4]
YETI Announces CFO Transition
Globenewswire· 2026-02-19 11:00
Core Viewpoint - YETI Holdings, Inc. has appointed Scott Bomar as the new Chief Financial Officer, succeeding Mike McMullen, who will assist in the transition until May 31, 2026 [1][3] Group 1: Leadership Transition - Scott Bomar will officially take over as CFO on February 23, 2026, bringing over 20 years of financial and operational leadership experience from his previous roles, including Senior Vice President of Finance at Home Depot [1][2] - Mike McMullen has served as CFO for a decade and played a crucial role in YETI's transformation, including its public listing in 2018 [3][4] Group 2: Scott Bomar's Background - Bomar has a strong track record in financial operations, having led various aspects of Home Depot's finance, including financial planning, treasury, and acquisition integration [2][5] - He has also held significant operational responsibilities, including managing Home Depot's $5 billion Home Services business unit and retail operations in China [2][5] Group 3: Company Strategy and Future Outlook - YETI aims to capitalize on growth opportunities by focusing on product innovation, expanding global presence, and penetrating its total addressable market [4][3] - The company is committed to disciplined execution and driving long-term shareholder value, leveraging Bomar's expertise in cost management and operational efficiency [3][4]
Brunswick Showcases Strong Brands and Innovation at the 2026 Miami International Boat Show
Globenewswire· 2026-02-19 11:00
Core Insights - Brunswick Corporation showcased strong sales performance, increased outboard market share, and significant innovation at the 2026 Miami International Boat Show, introducing seven new products and winning 11 awards for excellence in various categories [1][4]. Product Launches - New products launched include the Boston Whaler 290 and 330 Outrage models featuring WhalerStep™ Hull Technology, and advanced multi-function displays from Simrad and B&G [6]. - Mercury Marine introduced a suite of advanced control technologies, including a new joystick and keyless start system, enhancing performance and user experience [6]. Industry Recognition - Brunswick received 11 awards at the show, including two Innovation Awards for Lowrance ActiveTarget 2XL and Mercury Boost, and three Consumer Satisfaction Index Awards for Boston Whaler, Crestliner, and Lund [6]. - The company’s brands were recognized for their excellence in innovation, customer service, and marketing, reinforcing their leadership in the marine industry [4][6]. Market Performance - Mercury Marine achieved a record 84% share of outboard engines at the show, a 15-percentage point increase from 2025, and maintained over 60% share across the entire event [6]. - Retail sales for premium brands like Sea Ray and Boston Whaler remained flat compared to a strong 2025, driven by anticipation for new product releases [6].
First Atlantic Nickel Announces $16 Million Two-Stage Earn-in Agreement With Core Critical Metals Corp. on Lucky Mike Copper-Silver-Tungsten Project, British Columbia - Retains 20% Carried Interest to Feasibility and Rights to Mining Royalty
Globenewswire· 2026-02-19 11:00
GRAND FALLS-WINDSOR, Newfoundland and Labrador, Feb. 19, 2026 (GLOBE NEWSWIRE) -- First Atlantic Nickel Corp. (TSXV: FAN | OTCQB: FANCF) (the "Company" or "First Atlantic") is pleased to announce that it has entered into an arm’s length option agreement dated February 18, 2026 (the “Option Agreement”) with Core Critical Metals Corp. (“CCMC”) (TSXV:CCMC), pursuant to which CCMC may earn up to may earn up to an eighty percent (80%) interest in the Lucky Mike Copper-Silver-Tungsten property (the “Property” or ...
Radware 2026 Global Threat Report Shows DDoS Attacks Jump 168% as Cyber Threats Escalate Across Networks and Applications
Globenewswire· 2026-02-19 11:00
Primary driver of DDoS activity remains geopolitical and ideological conflictAI-Driven Bot Attacks Accelerate Worldwide MAHWAH, N.J., Feb. 19, 2026 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today released its 2026 Global Threat Analysis Report, revealing a dramatic escalation in cyberattack activity across both network and application layers throughout 2025. The new report, based on comprehensive analysis of dat ...
MTY Reports Fourth Quarter Results for Fiscal 2025
Globenewswire· 2026-02-19 11:00
GAAP Measures: Segment profits increased by 48% to reach $87.3 million during the quarter primarily due to a one-time catch up of gift card breakage income on unutilized gift cards.Net income attributable to owners increased to $32.1 million, or $1.40 per diluted share compared to a loss of $(55.3) million, or $(2.34) per diluted share in Q4-24.Cash flows provided by operating activities of $46.2 million compared to $43.7 million in Q4-24, an increase of $2.5 million mainly attributable to a higher net inco ...