Financial 15 Split Corp. Completes Overnight Offering of $92,220,000
Globenewswire· 2025-11-25 15:02
Group 1 - The Company has completed an overnight offering of Preferred Shares, raising total gross proceeds of $92.2 million [1] - The Preferred Shares will trade on the Toronto Stock Exchange under the symbol FTN.PR.A [1] - The offering was led by National Bank Financial Inc. [1] Group 2 - The net proceeds from the offering will be invested in a high-quality portfolio of financial services companies, including major Canadian and U.S. banks [2] - The portfolio includes notable companies such as Bank of Montreal, Bank of America Corp., and Royal Bank of Canada [2] Group 3 - Effective December 1, 2025, the Company will provide holders of the Preferred Shares with fixed, cumulative monthly dividends at an annual rate of 7.25%, with a minimum rate of 6.00% until 2030 [4] - On or about the termination date, currently set for December 1, 2030, the Company will pay holders of the Preferred Shares $10.00 per Preferred Share [4]
SELIGSON & CO OMX HELSINKI 25 EXCHANGE TRADED FUND: CHANGES IN THE MANAGING COMPANY ON 31 DECEMBER 2025
Globenewswire· 2025-11-25 15:00
Core Points - Seligson & Co Fund Management Company Plc will undergo changes on 31 December 2025, including a merger with LocalTapiola Alternative Investment Funds Ltd [1][2] - The merger will centralize fund operations of LocalTapiola Asset Management Group into Seligson & Co, allowing the company to manage all Seligson & Co and LocalTapiola funds [2] - Seligson & Co has received a license from the Financial Supervisory Authority to manage alternative investment funds, marking its entry into this sector [2] Management Changes - Samu Anttila has been elected as Chairman of the Board of Directors, and Helena Arlander will join as a new member, effective 31 December 2025 [2] - Ari Kaaro and Mikko Vasko will continue their roles as members of the Board [2]
EHang's Thailand AAM Sandbox Reaches Landmark: First Urban Sandbox Human-Carrying Flight of Pilotless eVTOL with CAAT Director-General Aboard
Globenewswire· 2025-11-25 14:58
Core Insights - EHang Holdings Limited successfully launched an urban human-carrying flight event in Bangkok, marking a significant milestone in the company's advanced air mobility (AAM) commercialization efforts [1][5][9] - The event was conducted under the AAM Sandbox Initiative, with the participation of key Thai government officials, including the Director General of the Civil Aviation Authority of Thailand (CAAT) [2][5] - The EH216-S aircraft demonstrated stable performance during the flight, showcasing its potential for commercial operations in urban environments [8][9] Company Developments - EHang's EH216-S completed a series of takeoffs and landings in Bangkok's central business district, with notable attendees experiencing the pilotless flight [2][5] - The flight event validated the EH216-S's safety and commercial feasibility through extensive testing and discussions with CAAT, focusing on flight safety, product technology, and operational systems [7][8] - EHang aims to expand its operations in Thailand, collaborating with local partners to develop a diversified low-altitude route network for urban commuting and aerial tourism [9] Industry Impact - The successful flight event is seen as a benchmark for the commercialization of the AAM industry in Southeast Asia, positioning Thailand as a potential leader in this sector [5][11] - The CAAT expressed strong support for EHang's technology, indicating a commitment to facilitating the safe implementation of modern aviation technologies in Thailand [11] - EHang's strategy includes enhancing Thailand's AAM regulatory framework, potentially leading to the world's first commercial eVTOL operations under a "sandbox" regulatory approach [11][12]
Vantage Drilling International Ltd. Reports Third Quarter 2025 Results
Globenewswire· 2025-11-25 14:30
Core Viewpoint - Vantage Drilling International Ltd. reported a significant turnaround in financial performance, achieving a net income of approximately $67.2 million for Q3 2025, compared to a net loss of $10.6 million in Q3 2024, indicating a strong recovery and improved liquidity position [1][3]. Financial Performance - For the three months ended September 30, 2025, the net income attributable to shareholders was approximately $67.2 million or $4.97 per diluted share, a notable improvement from a net loss of $10.6 million or $0.80 per diluted share for the same period in 2024 [1]. - As of September 30, 2025, Vantage had approximately $197.4 million in cash, a significant increase from $89.6 million as of December 31, 2024 [2]. Operational Developments - The financial improvement was attributed to the sale of the Tungsten Explorer, which has undergone significant upgrades and commenced operations in West Africa in early November 2025 [3]. - The company is optimistic about future work opportunities for the drillship, despite having to terminate a previously announced contract for the Platinum Explorer [3]. Company Overview - Vantage Drilling is an offshore drilling contractor that primarily contracts drilling units and related services on a dayrate basis for oil and gas wells globally [3].
AbbVie and adMare BioInnovations Foster Life Sciences Innovation with the Launch of the AbbVie Biotech Innovators Award in Quebec
Globenewswire· 2025-11-25 14:30
Core Points - AbbVie, in collaboration with adMare BioInnovations, has launched the AbbVie Biotech Innovators Award to support innovation in Quebec's life sciences sector [1][2] - The award aims to assist early-stage biotechnology startups that align with AbbVie's therapeutic focus areas, including immunology, oncology, neuroscience, eye care, and aesthetics [2][3] - The selected startup will receive a year of laboratory and office space at the adMare Innovation Centre in Montreal, along with access to AbbVie's expertise and mentorship [3][9] Industry Impact - Quebec's life sciences and health technologies industry contributes $6.5 billion to the province's GDP, highlighting its significance in the regional economy [5] - adMare BioInnovations has a strong track record, having built 38 companies that have attracted $2.5 billion in risk capital and created around 1,000 jobs in Canada [8] - The initiative reflects a commitment to fostering a thriving biotech ecosystem in Quebec, aiming to accelerate the development of transformative therapies [4][9]
Kinetic Surpasses Major Milestone in Broken Arrow: 25,000 Fiber Homes Passed
Globenewswire· 2025-11-25 14:30
Core Insights - Kinetic has successfully passed 25,000 homes with high-speed multi-gigabit fiber internet in the greater Broken Arrow area, with plans for continued construction to meet local demand [1][3][12] Company Developments - The build is fully funded by Kinetic, enhancing the company's ability to provide next-generation internet services to residents and businesses in Broken Arrow and nearby communities [2] - Kinetic has upgraded its network to expand multi-gig capability to 85% of its fiber footprint, preparing customers for future applications requiring high bandwidth and low latency [7] - The company has a strong local presence, actively participating in community initiatives and supporting local organizations [5][6] Market Position - Kinetic's fiber internet service offers significant advantages over traditional copper and cable, including lower latency, higher reliability, and symmetrical speeds, which are essential for modern digital needs [10][12] - Research indicates that communities with fiber internet experience 213% higher business growth, 10% higher self-employment rates, and a 14-17% increase in home values [8] Community Engagement - Kinetic recently held a "Light it Up" community celebration in Broken Arrow, showcasing its commitment to local engagement and investment in the community [9][11] - The company emphasizes its dedication to local challenges and the well-being of residents, with local technicians addressing community needs [6] Future Outlook - Kinetic's ongoing expansion in Broken Arrow is seen as a step towards building a "city of the future," with the potential to connect tens of thousands of families to advanced fiber internet [12] - The company encourages residents to upgrade to fiber service, highlighting the competitive edge of its gigabit offerings compared to local competitors [11][12]
Historic Iron Dome Funding Boost Creates New Opportunities for Rimon Technologies, Reinforcing Strategic Value of Nukkleus' Pending Acquisition
Globenewswire· 2025-11-25 14:29
Core Viewpoint - Nukkleus Inc. is strategically positioned to benefit from the significant expansion of the Iron Dome missile defense system, particularly through its acquisition of Rimon, a key supplier in this sector [1][3][7]. Industry Developments - Israel's Ministry of Defense has signed a landmark procurement agreement with Rafael Advanced Defense Systems to accelerate the production of Iron Dome interceptors, funded primarily by an $8.7 billion U.S. defense assistance package, which includes $5.2 billion specifically for air-defense systems [2]. - The Iron Dome expansion is one of the largest production investments in its history, indicating a strong commitment to enhancing Israel's defense capabilities [2]. Company Strategy - Nukkleus, through its controlling stake in Star 26 Capital Inc., is in the process of acquiring Rimon, which has established partnerships with major defense integrators like Rafael and Elbit Systems [3]. - The company anticipates a significant increase in demand for Rimon's manufacturing capabilities as production ramps up in response to the new contract [3][4]. Growth Outlook - Rimon is preparing to scale its operations starting in 2026 to meet the expanding production requirements driven by heightened regional threats and the need to replenish interceptor stockpiles [4][5]. - The urgency to expand air-defense capacity is emphasized by rising tensions in the region, particularly concerning potential confrontations with Iran [5]. U.S.-Israel Cooperation - The initiative aligns with expanded U.S.-Israel industrial cooperation, including production at the new R2S facility in Camden, Arkansas, which recently secured a $1.25 billion contract for Tamir interceptor manufacturing [6]. Company Vision - Nukkleus aims to integrate operational capabilities and financial discipline to modernize and expand strategic suppliers in the defense sector, focusing on Tier 2 and Tier 3 companies that are crucial to national security infrastructure [8][9].
Performance Shipping Inc. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2025
Globenewswire· 2025-11-25 14:27
Core Viewpoint - Performance Shipping Inc. reported a decline in net income for Q3 2025 compared to the same period in 2024, primarily due to decreased time-charter equivalent rates and reduced available days from vessel drydockings. However, the company remains optimistic about future market conditions supported by strong global demand and strategic fleet management. Financial Performance - The net income for Q3 2025 was $3.9 million, down from $12.4 million in Q3 2024, with earnings per share of $0.28 (basic) and $0.10 (diluted) [1][4] - Revenue for Q3 2025 was $18.5 million, a decrease from $22.9 million in Q3 2024, attributed to lower TCE rates and fewer available days due to drydock [2][3] - For the nine months ended September 30, 2025, net income increased to $42.4 million from $34.0 million in the same period of 2024, with earnings per share of $3.30 (basic) and $1.09 (diluted) [3][4] Operational Highlights - The average TCE rate for Q3 2025 was $29,460, down from $34,307 in Q3 2024, reflecting market conditions [2][13] - The fleet's average age decreased from 13.6 years to 9.2 years, and operating fleet capacity increased by 75% since the end of the previous year [6][11] - The company secured time-charter agreements for new vessels at competitive rates, enhancing cash flow visibility and increasing secured revenue backlog to $330 million [5][11] Market Conditions - Tanker market conditions remained firm in Q3 2025, with Aframax spot rates averaging approximately $37,500 per day, benefiting from increased tonne-mile demand due to geopolitical disruptions [3][9] - Global oil consumption rose to 105.0 million bpd, up 0.7% from the previous quarter, while production increased to 107.6 million bpd, up 2.3% [14] - The tanker fleet supply is projected to grow by 2.3% in 2025 and 4.2% in 2026, with tanker demand expected to remain strong due to seasonal factors and shifting trade flows [11][14] Corporate Developments - The company completed a $100 million Nordic bond issuance, enhancing liquidity with a quarter-end cash position of $212 million [7][11] - Recent acquisitions include two eco-design Suezmax tankers, scheduled for delivery in early 2026, which are expected to strengthen the fleet's competitive position [5][6] - As of November 24, 2025, the company had 12,432,158 common shares outstanding, along with various warrants and preferred stock [8][10]
Vislink Promotes Raj Kotecha to Senior Vice President of Sales & Support
Globenewswire· 2025-11-25 14:26
Core Insights - Vislink Technologies, Inc. has promoted Raj Kotecha to Senior Vice President of Sales and Support, reflecting the company's commitment to enhancing sales performance and service delivery [1][5]. Company Overview - Vislink Technologies is a global leader in real-time video communications, serving defense, public safety, and broadcast markets, with over 50 years of experience in video communications [6]. - The company specializes in high-quality live video solutions, utilizing RF, bonded cellular, 5G, and AI-driven technologies to ensure seamless and secure video transmission [6]. Leadership and Strategy - Raj Kotecha, previously VP of Strategic Accounts, has been instrumental in expanding Vislink's presence in global broadcast and public safety markets, working with leading broadcasters and public safety organizations [2][3]. - In his new role, Kotecha will lead the global RF sales and support organization, focusing on growth across key market sectors and aligning sales strategy with the company's next-generation product roadmap [4]. Market Position and Future Outlook - The promotion of Kotecha is seen as a strategic move to strengthen customer relationships and expand the international partner network, particularly in sports broadcasting, public safety, and defense sectors [5]. - The company aims to leverage its innovative product portfolio and a dedicated team to drive growth and enhance customer success in live production and mission-critical operations [5].
RedCloud’s CEO Floyd To Join NVIDIA, Google, Amazon, At Exclusive AI Summits in Tokyo and Doha
Globenewswire· 2025-11-25 14:20
Core Insights - RedCloud Holdings plc is actively engaging in global conferences to promote its AI-driven trading platform, RedAI, aimed at the Fast Moving Consumer Goods (FMCG) industry [1][2][3] Company Developments - CEO Justin Floyd will participate in two significant AI summits in Tokyo and Doha, joining industry leaders like NVIDIA, Google, and Amazon [2][5] - The company recently announced a next-gen agentic AI experience for RedAI, which is expected to enhance algorithmic trading across supply chains, addressing a $2 trillion global inventory gap within the $14.6 trillion FMCG market [3][8] Industry Context - The FII PRIORITY Asia Summit in Tokyo will focus on how innovation and capital flows are reshaping the global economy, with Floyd advocating for AI infrastructure to improve FMCG industry performance [4] - At the World Summit AI Qatar, Floyd will discuss the economic significance of AI infrastructure for the FMCG sector, highlighting it as a transformative opportunity [5][6] Recent Achievements - RedCloud has more than doubled its customer base year-over-year in the first half of 2025 and launched a joint venture in Saudi Arabia, showcasing its scalable global expansion model [8] - The company is also engaged in the NVIDIA Connect program and is focused on deploying native-AI infrastructure to tackle the global inventory gap affecting supply chain performance [8]