Core Viewpoint - ACELYRIN, Inc. has received stockholder approval for its merger with Alumis Inc., which is expected to enhance value through the combination of their complementary pipelines and organizations [1][2]. Group 1: Merger Details - The merger agreement stipulates that ACELYRIN stockholders will receive 0.4814 shares of Alumis common stock for each share of ACELYRIN common stock owned at the closing of the transaction [1]. - The transaction is anticipated to be completed in the second quarter of 2025 [3]. Group 2: Company Background - ACELYRIN, Inc. focuses on developing transformative medicines in immunology, with its lead program being lonigutamab, a monoclonal antibody for treating thyroid eye disease [5]. Group 3: Leadership Statements - The CEO of ACELYRIN expressed appreciation for stockholder support, indicating confidence in the merger as a value-maximizing strategy [2].

Core Viewpoint - Lido Merger Sub, Inc. has initiated a cash tender offer to purchase all outstanding 8.875% Senior Notes due 2029 of Landsea Homes Corporation, contingent upon the completion of the merger agreement dated May 12, 2025 [1][9]. Tender Offer and Consent Solicitation - The Tender Offer will expire on June 11, 2025, unless extended or terminated earlier [3]. - Holders who tender their Notes by May 27, 2025, will receive $1,040 per $1,000 in principal amount, which includes a $50 early participation premium [3][4]. - After the Early Tender Date, holders will receive $990 per $1,000 in principal amount [3][4]. - The total amount for the Tender Offer is $300 million for the 8.875% Senior Notes due 2029 [4]. Purpose of Consent Solicitation - The Consent Solicitation aims to eliminate the requirement for a "Change of Control Offer" and to remove restrictive covenants and certain events of default in the indenture governing the Notes [7]. - Holders must tender their Notes to deliver their consents, and vice versa [8]. Conditions for Completion - The consummation of the Tender Offer is subject to certain conditions, including the completion of the merger and a financing condition [9]. - The merger is expected to close early in the third quarter of 2025, with the possibility of extending the Expiration Date until the merger closes [9]. - If requisite consents are not obtained, a "Change of Control Offer" will be initiated to repurchase the Notes [9].

Reports Solid First Quarter Results with Net Investment Income of $0.35 Per Share and a Net Asset Value of $29.66 Per Share Declared a Distribution of $0.36 Per Share for the Second Quarter of 2025 Successfully Exited its Equity Investment in GA Communications, Inc., Further Reducing the Company’s Non-Yielding Equity Portfolio Investors are Encouraged to Vote FOR the Merger with Portman Ridge Finance Corporation (“PTMN”) NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) -- Logan Ridge Finance Corporation (“Logan Ri ...

Core Viewpoint - Dada Nexus Limited is set to hold an extraordinary general meeting on June 10, 2025, to vote on a proposed merger agreement with JD Sunflower Investment Limited, which will result in Dada becoming a privately held company and delisting from NASDAQ [1][2][3]. Group 1: Merger Details - The merger will involve Merger Sub merging with Dada, making Dada a wholly owned subsidiary of Parent, and Dada's American depositary shares (ADSs) will no longer be listed on NASDAQ [2][3]. - Following the merger, Dada's ADSs and shares will cease to be registered under the Securities Exchange Act of 1934 [2]. Group 2: Shareholder Information - Shareholders of record as of May 22, 2025, will be entitled to vote at the extraordinary general meeting, and ADS holders can instruct JPMorgan Chase Bank to vote on their behalf [4]. - The board of directors has unanimously recommended that shareholders vote in favor of the merger agreement and related transactions [3]. Group 3: Company Overview - Dada Nexus Limited is recognized as China's leading local on-demand retail and delivery platform, operating JD NOW and Dada NOW, which are interconnected to enhance delivery efficiency and order volume [10].

Financial Data and Key Metrics Changes - In Q1 2025, the company generated GAAP net investment income of $0.40 per share and adjusted net investment income of $0.41 per share, reflecting a decline of approximately $0.04 per share from the prior quarter due to tighter yields and increased non-accruals [7][13] - The net asset value (NAV) as of March 31 was $16.63 per share, down from $16.80 per share as of December 31 [7] - Total investment income for the first quarter was $55 million, consistent with the prior quarter, while total expenses increased to $33 million primarily due to higher interest expenses [12] Business Line Data and Key Metrics Changes - The company added approximately $180 million in organic originations to its portfolio during the quarter, despite muted sponsor M&A activity [7] - The total size of the portfolio increased from $1.9 billion to $2.5 billion, bolstered by the merger with CSL3 and the consolidation of Credit Fund II [8] Market Data and Key Metrics Changes - The broadly syndicated and private credit markets remained competitive, with recent volatility around tariffs posing a near-term headwind to overall capital markets and M&A activity [8][9] - The company estimates that less than 5% of its portfolio has material direct exposure to tariffs, indicating minimal potential direct risk [9] Company Strategy and Development Direction - The strategic merger with CSL3 is expected to improve liquidity and reduce costs while maintaining the existing investment strategy due to the near 100% overlap between the portfolios [10] - The company is focused on overall credit performance and diversification, continuing to deploy and increase the size of its portfolio [10] Management's Comments on Operating Environment and Future Outlook - Management noted that while the portfolio remains resilient, there is a focus on sourcing transactions with significant equity cushions and conservative leverage profiles [21] - The company anticipates a strong pipeline of transactions heading into Q2, despite a near-term slowdown in overall activity [36] Other Important Information - The Board of Directors declared a second-quarter dividend of $0.40 per share, representing an attractive yield of about 11% based on the recent share price [14] - The company has $0.85 per share of spillover income generated over the last five years, providing comfort in maintaining the base dividend [14] Q&A Session Summary Question: On the credit fund, what does the dividend look like going forward? - Management indicated that the nominal value outstanding for the credit fund is expected to be flat in the near term, with overall NII being roughly neutral due to higher ROE on a lower capital base [26] Question: Is there any asset rotation expected post-merger? - Management confirmed that the overall yield from the merged portfolio is lower, resulting in a reduction of about 15 basis points for CGBD, with selective rotation of lower spread assets planned [32] Question: How does the company plan to manage portfolio leverage? - The target leverage is set at 1.1, with expectations to reach this range over the next couple of quarters, supported by a strong pipeline of transactions [36] Question: How will spillover income support the dividend? - Management stated that while there are uncertainties, the intention is to remain consistent with the dividend, assessing the situation on a quarter-by-quarter basis [44]

Core Viewpoint - ACELYRIN, Inc. expresses confidence that the proposed merger with Alumis Inc. is the best path forward and maximizes value for stockholders [2][3] Company Overview - ACELYRIN is a late-stage clinical biopharma company focused on developing transformative medicines in immunology [2] - The merger with Alumis is seen as a strategic move to create a leading clinical-stage immunology company with a diversified portfolio [8] Merger Details - The ACELYRIN Board recommends stockholders vote "FOR" the merger, emphasizing the importance of every vote [5] - The merger agreement reflects a significant increase in ACELYRIN stockholders' ownership in the combined company, retaining approximately 48% ownership [8] - The merger follows a comprehensive review process by an independent transaction committee [8] Stockholder Engagement - The Board urges stockholders to protect their investment value and not be swayed by short-term focused investors [4] - A Special Meeting of stockholders is scheduled for May 13, 2025, to vote on the merger [1][5] Rights Plan - ACELYRIN adopted a limited duration rights plan in response to a rapid accumulation of its stock by Tang Capital, aiming to maximize stockholder value [6]

Core Viewpoint - United Community Banks, Inc. has successfully completed its merger with ANB Holdings, Inc., enhancing its presence in the South Florida market and expanding its customer service capabilities [1][3]. Company Overview - United Community Banks, Inc. is a financial holding company with $27.9 billion in assets as of March 31, 2025, operating 200 offices across several states [4]. - ANB Bank, a subsidiary of ANB Holdings, is headquartered in Oakland Park, Florida, with total assets of $452 million, total loans of $317 million, and total deposits of $387 million as of March 31, 2025 [2][4]. Merger Details - The merger became effective on May 1, 2025, with ANB Bank being integrated into United Community Bank, which will adopt the United Community brand by July 11, 2025 [1][3]. - The merger is expected to create a customer service-focused hub in a growing market, aligning the values and priorities of both organizations [3]. Leadership Statements - Lynn Harton, CEO of United, expressed enthusiasm about the cultural alignment and community-focused approach of ANB Bank's team [3]. - Ginger Martin, CEO of ANB Bank, highlighted the benefits of a larger balance sheet and expanded product offerings for continued excellent service to customers [3]. Financial Advisors - Stephens Inc. served as the financial advisor for United, while Hovde Group, LLC acted as the financial advisor for ANB [3].

SPARTA, Mich., April 30, 2025 /PRNewswire/ -- ChoiceOne Financial Services, Inc. ("ChoiceOne") (NASDAQ:COFS), the parent company for ChoiceOne Bank, reported financial results for the quarter ended March 31, 2025.  On March 1, 2025, ChoiceOne completed the merger (the "Merger") of Fentura Financial, Inc. ("Fentura"), the former parent company of The State Bank, with and into ChoiceOne with ChoiceOne surviving the merger.  On March 14, 2025, the consolidation of The State Bank with and into ChoiceOne Bank wi ...

Financial Data and Key Metrics Changes - The company reported operating earnings of $67.5 million, benefiting from a 33 basis point expansion in the net interest margin and an improvement in the operating efficiency ratio to 53.7% [9][16] - Operating return on average tangible common equity increased by 40 basis points to 11.7%, while operating return on average assets rose by 3 basis points to 1.09% [9][15] - GAAP net loss was reported at $1.08 per diluted share due to the strategic repositioning of $1.3 billion of securities, which is expected to be $0.13 accretive to 2025 operating EPS [14][39] Business Line Data and Key Metrics Changes - The lending environment showed a 3% annualized loan growth primarily due to higher commercial and industrial (C&I) balances, despite a cautious outlook for the remainder of the year [10][22] - Wealth management assets under management increased to $8.4 billion, driven by net client flows, although a large short-term inflow is expected to reverse in the second quarter [12][19] - Noninterest income was reported as a loss of $236.9 million due to non-operating losses on the sale of AFS securities, while operating noninterest income decreased by $2.7 million [17][18] Market Data and Key Metrics Changes - Period-end deposits totaled $20.8 billion, a decrease of $522 million primarily due to seasonal outflows and runoff of high-cost CDs [20] - The company maintains a favorable deposit mix with 50% of deposits in checking accounts, providing a stable low-cost funding base [20] - The commercial real estate loan portfolio stands at $7.2 billion, with a focus on local markets and diversified by sector [28] Company Strategy and Development Direction - The announced merger with Harbor One Corp. is expected to create a $30 billion bank, enhancing Eastern's market presence in Greater Boston and Rhode Island [6][34] - The merger is projected to deliver approximately 16% EPS accretion and improve operating efficiency, with a tangible book value earn-back of 2.8 years [39][40] - The company aims to deepen the alignment between its wealth management and banking businesses, capitalizing on synergies from the merger [11][35] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the lending environment due to economic uncertainty and ongoing changes in trade policies [10] - The company remains optimistic about achieving its projections for the year, despite the fluid economic environment [31] - Management highlighted the importance of monitoring evolving economic conditions and policies that could impact business and communities [12][32] Other Important Information - The company repurchased $48.7 million worth of shares during the quarter and announced an 8% increase in the quarterly dividend [6][26] - The company has no equity capital raise or debt needed to complete the merger, which is expected to enhance earnings power and profitability [46] Q&A Session Summary Question: Will the company continue share buybacks during the merger process? - The company will pause share buybacks while using an equity component in the merger consideration until after shareholder approval [54] Question: What is the expected closing date for the merger? - The merger is targeted to close by October 31, pending regulatory approvals, with a possibility of deferring to Q1 2026 if necessary [55] Question: Can you elaborate on the franchise lending group that was recently hired? - The company hired two seasoned lenders to enhance its franchise lending capabilities, focusing on various sectors including fast food, with expectations for continued growth [56] Question: What is the effective tax rate for the remainder of the year? - The company expects an effective tax rate of about 11% for the full year, despite a large GAAP loss in the first quarter [62] Question: How does the company plan to integrate Harbor One's mortgage business? - The company plans to optimize the combined mortgage business, recognizing that Harbor One is currently a larger player in the mortgage market [64] Question: What is the company's outlook for charge-off rates in the coming years? - Management expressed caution in providing specific charge-off rate projections due to economic uncertainties but noted strong credit performance in the current quarter [96]

Financial Data and Key Metrics Changes - The company reported net earnings of $64 million or $0.49 per share, with an annualized adjusted return on average assets of 1.11% and an adjusted return on average tangible equity of 16.15% [6][15] - The tangible book value per share grew by $0.69 to $14.15, and the tangible common equity ratio expanded to 7.9% [7] - The average cost of total deposits decreased by 14 basis points to 2.11%, while the net interest margin increased by 6 basis points to 3.34% [8] - Core net interest margin grew by 9 basis points, and total revenue increased to $208.8 million for the quarter [16] Business Line Data and Key Metrics Changes - The commercial lending team closed approximately $600 million in new loans, with the commercial loan portfolio increasing by 3.8% [9] - Provident Protection Plus experienced a 19% organic growth in new business compared to the same period last year, with income up 23% [12] - Beacon Trust assets under management and fee income decreased by approximately 4% due to market conditions [13] Market Data and Key Metrics Changes - The total loan pipeline increased to approximately $2.8 billion, with a weighted average interest rate of 6.31% [10] - Nonperforming loans increased to 0.54%, primarily due to two well-secured loans [11] - The provision for loan losses decreased to $325,000, reflecting stable-specific reserve requirements [21] Company Strategy and Development Direction - The company aims to maintain momentum throughout 2025, focusing on core businesses and creating value for stockholders and customers [13] - There is a targeted growth of about 5% in the commercial real estate (CRE) space, with a focus on diversifying the commercial portfolio [50][52] - The company is cautious about potential macroeconomic impacts but remains optimistic about its strong loan pipeline [33][40] Management's Comments on Operating Environment and Future Outlook - Management noted that while there is uncertainty in the macroeconomic environment, they have not seen significant negative impacts on their portfolio [34][40] - The effective tax rate for the quarter increased to 30.3%, with expectations of approximately 29.5% for the remainder of 2025 [23] - Projected financial performance for 2025 includes a return on average assets of approximately 1.15% and a return on tangible equity of approximately 16% [23] Other Important Information - The Board of Directors approved a quarterly cash dividend of $0.24 per share payable on May 30 [7] - Noninterest income increased to $27 million, driven by strong performance from the insurance agency [22] Q&A Session Summary Question: Update on integration and hiring in wealth management - Management confirmed that integration is complete and there have been new hires in Pennsylvania and Westchester markets, contributing to pipeline growth [27][29] Question: Customer conversations regarding macro outlook and tariffs - Management indicated that there is uncertainty but no significant pullback from clients; they are monitoring the portfolio for potential impacts [34][40] Question: Details on nonaccrual loans - Management is working with borrowers on two nonaccrual loans, with favorable loan-to-value ratios providing some comfort [45][47] Question: Future M&A activity and characteristics of potential candidates - Management expressed that buying back stock is a priority over M&A, emphasizing the importance of culture in any future acquisitions [57][59] Question: Expense guidance for the year - Management expects expenses to be in the range of $112 million to $115 million, with a conservative approach to forecasting [62] Question: Insurance commissions and seasonality - Management noted that insurance business is seasonal, with strong first-quarter performance expected to continue [66]