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Westport Announces the Resignation of Chief Financial Officer William Larkin and Appoints Elizabeth Owens as Successor
Globenewswire· 2025-08-26 21:00
Company Leadership Changes - Westport Fuel Systems Inc. announced the resignation of Chief Financial Officer William Larkin, effective immediately, with Elizabeth Owens appointed as his successor [1][2] - Larkin will remain in an advisory role until September 15, 2025, to ensure a smooth transition [1] Executive Background - Elizabeth Owens has been with Westport for 10 years, previously serving as Vice President, Finance and Tax, and has extensive experience in multinational corporate environments [3][4] - Owens has held management roles across various industries, including automotive, telecommunications, aviation, and chemical manufacturing, and began her career as a CPA with Deloitte [3] Company Overview - Westport Fuel Systems is a technology and innovation company focused on providing alternative fuel and low-emissions transportation technologies [5] - The company designs, manufactures, and supplies advanced components and systems to facilitate the transition from traditional fuels to cleaner energy solutions [5][6] - Westport supports a variety of clean fuels, including natural gas, renewable natural gas, and hydrogen, helping partners meet performance demands and regulatory requirements [6]
CSLM Digital Asset Acquisition Corp III, Ltd $200 Million Initial Public Offering
Globenewswire· 2025-08-26 20:54
Company Overview - CSLM Digital Asset Acquisition Corp III is a newly organized special purpose acquisition company (SPAC) formed in the Cayman Islands, focusing on acquiring businesses in the digital asset space [1][7] - The company is led by Chairman and CFO Vik Mittal and CEO Charles T. Cassel III, supported by a distinguished board of directors [2] Initial Public Offering (IPO) Details - The company announced the pricing of its IPO, offering 20,000,000 units at $10.00 per unit, with each unit consisting of one Class A ordinary share and one-half of a redeemable warrant [1] - The IPO is expected to close on August 28, 2025, subject to customary closing conditions, and Cohen & Company Capital Markets is acting as the sole book-running manager [4] Investment Focus - The SPAC aims to target businesses positioned for long-term growth in the digital asset sector, particularly those involved in blockchain and distributed ledger technologies [3] - The focus will be on companies in "new economy sectors" within Frontier Growth Markets, including critical infrastructure such as wallets, custody solutions, exchanges, and tokenized financial instruments [3] Trading Information - The units are expected to trade on The Nasdaq Global Market under the ticker symbol "KOYNU" starting August 27, 2025, with separate trading for Class A ordinary shares and warrants under the symbols "KOYN" and "KOYNW," respectively [1]
Prospect Capital Announces Financial Results for June 2025
Globenewswire· 2025-08-26 20:52
Financial Results - Prospect Capital Corporation reported a net investment income (NII) of $79,043,000 for the quarter ended June 30, 2025, down from $102,922,000 in the same quarter of the previous year, representing a decrease of 23% [2] - The NII per common share was $0.17, compared to $0.25 for the same quarter last year [2] - The company experienced a net loss applicable to common shareholders of $(226,369,000) for the quarter, a significant increase from a loss of $(9,050,000) in the same quarter of the previous year [2] - Total assets decreased to $6,804,938,000 from $7,857,092,000 year-over-year [2] - The net asset value (NAV) per common share fell to $6.56 from $8.74 a year ago [2][27] Distribution and Shareholder Information - Distributions to common shareholders for the quarter totaled $61,181,000, with a distribution per common share of $0.135, unchanged from the previous quarter but down from $0.18 a year ago [2] - Cumulative paid and declared distributions to common shareholders reached approximately $4.6 billion, equating to $21.66 per share since inception [5] - The company declared monthly cash distributions of $0.0450 for September and October 2025 [4] Investment Strategy and Portfolio Update - As of June 30, 2025, the company has invested over $22 billion across more than 450 investments, with a realized gross internal rate of return (IRR) of approximately 12% on exited investments [6][7] - The focus has shifted towards first lien senior secured middle market loans, which now represent 70.5% of the investment portfolio, an increase of 642 basis points from the previous year [7] - The company has reduced its second lien senior secured middle market loans to 14.4% and exited its subordinated structured notes portfolio, which now represents only 0.6% of the investment portfolio [7][9] Capital and Liquidity - The company has a diversified funding profile, including a $2.1 billion revolving credit facility and has successfully retired multiple upcoming maturities [15] - As of June 30, 2025, the weighted average cost of unsecured debt financing was 4.52%, reflecting an increase from the previous year [19] - Unfunded eligible commitments to portfolio companies totaled approximately $40.7 million, representing 0.6% of total assets [16] Management and Ownership - Senior management and employees own 28.5% of all common shares outstanding, valued at approximately $0.9 billion based on NAV [11]
Innospec and International Justice Mission (IJM) Enter Second Year of Partnership to Protect Palm Oil Workers in Indonesia
Globenewswire· 2025-08-26 20:45
Core Insights - Innospec Inc. has entered the second year of its partnership with International Justice Mission (IJM) to enhance protections for palm oil workers in Indonesia and combat forced labor and human trafficking [1][2] - The partnership, initiated in 2024, has made significant progress in improving labor conditions and will expand to additional provinces, including Sumatra and the Riau Islands, with new initiatives planned for 2025 [2][3] Company Overview - Innospec Inc. is a global specialty chemicals company with approximately 2,450 employees across 22 countries, providing a wide range of specialty chemicals for various markets [4] - The Performance Chemicals division focuses on innovative technology-based solutions for sectors such as Personal Care, Home Care, Agrochemical, Mining, and Industrial markets [4] Partnership Initiatives - Key initiatives from the partnership include training over 50 law enforcement and government officials on human rights and business practices, promoting a digital complaint system for reporting labor violations, and launching a national awareness campaign on safe migration and human trafficking [6] - The partnership aims to implement aftercare systems for survivors of forced labor, further enhancing support for vulnerable workers [2][3]
Faraday Future Founder and Co-CEO YT Jia and Global President Jerry Wang Execute Stock Purchases Under 10b5-1 Plans, Highlighting “Stockholder First” Commitment
Globenewswire· 2025-08-26 20:45
Core Viewpoint - Faraday Future's leadership, including Founder YT Jia and Global President Jerry Wang, has made significant stock purchases, reflecting their confidence in the company's long-term vision and commitment to stockholders [5][9]. Stock Purchases - YT Jia purchased approximately $200,000 worth of FF common stock, while Jerry Wang purchased about $25,000 worth, both including commission fees [2]. - YT Jia plans to purchase a total of $560,000 worth of shares, representing the after-tax portion of his $1.2 million signing bonus [3]. - Jerry Wang intends to purchase a total of $50,000 worth of shares [3]. - Additional share purchases are planned by other members of FF's leadership team under their 10b5-1 plans initiated on June 13, 2025 [4]. Company Overview - Faraday Future is a California-based company focused on creating a shared intelligent electric mobility ecosystem, aiming to disrupt the automotive industry with a user-centric and technology-first approach [6]. - The flagship model, FF 91, represents the company's vision for luxury and innovation, while the FX strategy targets mass production models with advanced technology at a more accessible price point [6]. Strategic Initiatives - The company recently launched the "EAI + Crypto" Dual-Flywheel & Dual-Bridge Ecosystem Strategy, which includes the introduction of the "C10 Treasury" and the "C10 Index" [9].
Comerica to Participate in 2025 Barclays Global Financial Services Conference; Announces Details for Conference Call to Review Third Quarter 2025 Earnings
Prnewswire· 2025-08-26 20:33
DALLAS, Aug. 26, 2025 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) announced it will participate in the 2025 Barclays Global Financial Services Conference on Tuesday, Sept. 9, 2025. Comerica Incorporated also provided details for its third quarter 2025 earnings call on Friday, Oct. 17, 2025. Interested parties may access additional information through the following details: 2025 BARCLAYS GLOBAL FINANCIAL SERVICES CONFERENCE In addition, the conference presentation, financial results and earnings presen ...
CEA Unveils "Spanish Art Season Cloud Journey" Themed Flight for the Inaugural "Shanghai-Barcelona" Route
Globenewswire· 2025-08-26 20:30
Core Points - China Eastern Airlines (CEA) will launch the "Shanghai-Barcelona" international route on September 26, 2025, with four round trips per week [1] - The airline has introduced a themed flight called "Spanish Art Season Cloud Journey," featuring artistic elements from Barcelona's architecture [2] - The themed flight will enhance the travel experience and will be expanded to other domestic and international routes in the future [3] Route and Operations - The "Shanghai-Barcelona" route will operate flights MU249 and MU250 on Tuesdays, Thursdays, Fridays, and Sundays [1] - CEA has recently added several new routes to its European network, including "Shanghai-Copenhagen," "Shanghai-Milan," and "Shanghai-Geneva" [5] - Currently, CEA operates flights to 15 European cities, including major destinations like Paris, Frankfurt, and London [5] Marketing and Engagement - The airline has launched themed buses in downtown Shanghai to integrate artistic expression with urban mobility [4] - Travelers can participate in an online check-in campaign by sharing photos of the themed flights or buses for a chance to win prizes [4] - The launch of the "Shanghai-Barcelona" route coincides with significant anniversaries in diplomatic relations between China, the European Union, and Spain [5]
Inspire Medical Systems, Inc. Announces Departure of Chief Financial Officer
Globenewswire· 2025-08-26 20:30
Company Overview - Inspire Medical Systems, Inc. is a medical technology company focused on developing and commercializing innovative, minimally invasive solutions for patients with obstructive sleep apnea [4] - The company's proprietary Inspire therapy is the first and only FDA, EU MDR, and PDMA-approved neurostimulation technology for treating moderate to severe obstructive sleep apnea [4] Leadership Change - Chief Financial Officer Rick Buchholz will step down effective December 31, 2025, to pursue other professional opportunities, but will remain in a financial advisory role until February 28, 2026, to ensure a smooth transition [1][2] - Buchholz has been with the company since 2014 and has played a significant role in its growth, including increasing revenue from $4 million to over $800 million in 2024 [2] Financial Guidance - The company reaffirms its full-year 2025 revenue guidance of $900 to $910 million, with a gross margin guidance of 84% to 86% and diluted net income per share guidance of $0.40 to $0.50 [3]
Grocery Outlet Appoints Frank Kerr to Chief Store Operations Officer
Globenewswire· 2025-08-26 20:30
Core Insights - Grocery Outlet Holding Corp. has appointed Frank Kerr as Executive Vice President, Chief Store Operations Officer, effective September 15, 2025 [1][2] - Frank Kerr brings over a decade of leadership experience in grocery retail, having previously worked at Lidl US and Save A Lot, where he achieved significant operational improvements and market share gains [2][3] - The company aims to leverage Kerr's expertise to enhance store operations, marketing, strategy, and market expansion, supporting independent operators for profitable growth [3] Company Overview - Grocery Outlet is a high-growth, extreme value retailer based in Emeryville, California, specializing in quality, name-brand consumables and fresh products [4] - The company operates more than 550 stores across various states, including California, Washington, Oregon, and others [4]
Alamos Gold Releases 2024 Annual ESG Report
Globenewswire· 2025-08-26 20:30
Core Insights - Alamos Gold Inc. has released its 2024 Environmental, Social, and Governance (ESG) Report, highlighting significant growth and alignment with the company's core values in 2024 [1][2] Group 1: ESG Report Highlights - The 2024 ESG Report is guided by leading sustainability frameworks such as SASB, TCFD, and GRI Standards, focusing on economic, environmental, social, and governance topics relevant to Alamos and its stakeholders [3] - Key achievements include a $1.5 million investment in local community initiatives, zero significant environmental incidents, and strengthened partnerships with Indigenous communities [7] - The company reported over 100,000 hours of employee training, a 17% increase from the previous year, and a 9% reduction in total Scope 3 greenhouse gas emissions [7] Group 2: Company Overview - Alamos Gold is a Canadian-based intermediate gold producer with operations in North America, including the Island Gold District and the Young-Davidson mine in Ontario, and the Mulatos District in Mexico [5] - The company employs over 2,400 people and is committed to sustainable development, with a strong portfolio of growth projects including the Phase 3+ Expansion at Island Gold and the Lynn Lake project in Manitoba [5]