BiomX CEO Issues Letter to Stockholders Accessibility StatementSkip NavigationCEO Letter to Stockholders highlights the Company's strategic and financial reset designed to strengthen BiomX in the near term and unlock future growth opportunitiesDOVER, Del., March 19, 2026 /PRNewswire/ -- BiomX Inc.(NYSE American: PHGE), today released the following letter from its Chief Executive Officer to stockholders.Dear Stockholders,Over the past several weeks, BiomX has taken decisive steps to reshape its leadership, p ...

Returned and cancelled merger shares, removal of more than $6.3 million of liabilities and over $1 million of annualized cost savings position Protagenic as a leaner company centered on PT00114 NEW YORK CITY, NY / ACCESS Newswire / March 17, 2026 / Protagenic Therapeutics, Inc. (OTCQB:PTIX), a clinical-stage biopharmaceutical company developing first-in-class treatments for stress-related neuropsychiatric disorders, today announced the closing of a settlement and separation related to its prior Phytanix Bio ...

Core Viewpoint - Zoomcar Holdings, Inc. has initiated a voluntary offer to exchange outstanding common stock purchase warrants for shares of its common stock, aiming to simplify its capital structure and reduce administrative complexity [1][3]. Offer to Exchange - The exchange offer allows eligible holders of warrants to exchange one warrant for 20,000 shares of common stock, subject to verification as accredited investors [2]. - The offer will expire on March 31, 2026, at 5:00 p.m. Eastern Time, unless extended by the company [4]. Capital Structure Simplification - The company is pursuing this exchange to reduce the number of outstanding warrant instruments and consolidate its equity capitalization, which may lead to lower administrative complexity [3]. Conditions of the Offer - The exchange is contingent upon obtaining stockholder approval for an amendment to increase the number of authorized shares of common stock, which will be sought at the upcoming annual meeting [5]. - Shares issued in exchange for warrants will be restricted securities, subject to lock-up restrictions on transfer [6]. Additional Information - Holders of warrants are encouraged to read the Schedule TO and related materials for important information regarding the exchange offer [7].

Core Insights - The company achieved all-time records for every key financial metric for the fiscal year and fourth quarter, indicating strong financial performance and growth potential [1] - Strategic initiatives were successfully executed, including simplifying the capital structure and achieving an investment grade credit rating, which positions the company for long-term success [1] Financial Performance - The company set records in key financial metrics for the fiscal year and fourth quarter, showcasing robust financial health [1] - An enhanced credit facility of $3.5 billion was established, allowing for the use of fixed-rate long-term bonds, which is expected to reduce borrowing costs over time [1] Strategic Initiatives - The company completed the redemption of the last series of convertible debentures by the end of 2025, achieving its goal of simplifying the capital structure [1] - The acquisition of Canadian North was finalized, solidifying the company's position as a leading Northern air operator and providing synergies with other business lines [1] - The acquisition of Mach2, along with historical parts data from Canadian North, enables diversification and expansion into the narrowbody and widebody commercial jet segments [1]

Core Viewpoint - Zoomcar Holdings, Inc. is initiating a voluntary exchange offer for its outstanding warrants in an effort to simplify its capital structure and reduce administrative complexity [4][5] Group 1: Offer to Exchange - The company is offering to exchange various classes of existing warrants for shares of its common stock at specified ratios [3][4] - The exchange is part of a broader strategy to consolidate equity capitalization and reduce the number of outstanding warrant instruments [4] - Holders of existing warrants must tender their warrants according to the procedures outlined in the Schedule TO before the expiration date [6] Group 2: Bridge Financing - The company has launched a bridge financing initiative of up to $5 million, with a minimum offering amount of $2 million, conducted as a private placement [2][9] - The securities in the bridge financing consist of units priced at $1,000 each, including one share of Series A Convertible Preferred Stock and one warrant to purchase common stock [10] - The proceeds from the bridge financing will be used for general corporate purposes, including working capital and funding ongoing operations [12]

Core Viewpoint - Blum Holdings, Inc. has successfully converted approximately $3.05 million of outstanding indebtedness into common stock, simplifying its capital structure and reducing legacy obligations [1][2][4] Group 1: Debt Conversion Details - The conversion was executed at a fixed price of $0.98 per share, equating to 85% of a $20.9 million pre-money valuation on a fully diluted basis, resulting in the issuance of 3,248,547 shares of common stock [2] - The converted debt was fully cancelled and satisfied, significantly reducing the company's legacy unsecured obligations [2] Group 2: New Financing Arrangement - In conjunction with the debt conversion, Blum Holdings executed a $525,000 senior secured promissory note, consolidating two previously issued unsecured notes [3] - The new note carries an interest rate of 8.0% per annum, matures on December 31, 2027, and is secured by substantially all of the company's assets, with the option for prepayment without penalty [3] Group 3: Company Overview - Blum Holdings is a leader in the cannabis sector, operating dispensaries throughout California and owning several prominent brands, including Korova, known for high potency products [5] - The company aims to leverage its ecosystem to enhance customer and retail investor acquisition, increase brand awareness, and create value across its portfolio [5]

Financial Data and Key Metrics Changes - Total company sales for Q4 2024 were $664 million, a 14% sequential decrease and 10% lower than the same quarter a year ago [28] - Adjusted EBITDA for Q4 was $32 million, or 4.8% of sales, with full year adjusted EBITDA reaching $220 million, or 6.7% [34][39] - The company generated $268 million in operating cash flow from continuing operations for the full year, the highest level in years [12][36] Business Line Data and Key Metrics Changes - Gas utility sales in Q4 were $253 million, a decline of $40 million or 14%, primarily due to reduced customer activity and delayed spending [29] - The diet sector revenue for Q4 was $208 million, a decrease of $31 million or 13% due to timing of project deliveries [30] - DTI sector revenue for Q4 was $203 million, down $36 million or 15% due to reduced upstream activity [31] Market Data and Key Metrics Changes - International revenue for Q4 was $122 million, down $5 million or 4% from lower turnaround activity [31] - The international segment achieved 14% year-on-year revenue growth in 2024, marking the second consecutive year of double-digit growth [32] Company Strategy and Development Direction - The company simplified its capital structure by repurchasing convertible preferred shares and extending its asset-based lending facility maturity to 2029 [10][11] - A three-pronged capital allocation strategy targets a net debt leverage ratio of less than 1.5 times, returning cash to shareholders, and investing in future growth [12] - The company initiated several growth initiatives and strategic supply agreements to enhance customer service and product offerings [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2025, projecting low to upper single-digit percentage revenue increases compared to 2024 [15][39] - Key growth drivers include improving fundamentals in the gas utilities sector, inflationary pressures on product pricing, and a strong outlook for midstream natural gas projects [16][20] - The company expects to maintain adjusted gross margins of approximately 21% and generate at least $100 million in operating cash flow in 2025 [39][42] Other Important Information - The company has initiated a remediation plan to address inventory cycle count compliance issues detected late in the year [9] - The Emtek joint venture aims to enhance gas meter sales by incorporating automatic meter reading technology, potentially unlocking tens of millions in revenue [24][72] Q&A Session Summary Question: Revenue guidance and strength sustainability - Management noted a 19% increase in backlog in the U.S. segment, indicating strong customer signals and optimism for revenue growth in 2025 [51][52] Question: Gross margin guidance - Management indicated that the 21% gross margin guidance includes a modest amount of inflation but does not fully account for potential tariff impacts [62][68] Question: International market outlook - Management highlighted strong project activity in Europe and Asia Pacific, with a significant international backlog of $254 million, the largest in years [79] Question: Capital allocation priorities - Management emphasized a focus on maintaining a prudent balance sheet while executing the $125 million share repurchase program and considering M&A opportunities as the balance sheet improves [85][88]