Talen Horton-Tucker (Los Angeles Lakers) with a 2-pointer vs the Charlotte Hornets, 04/13/2021
Talen Horton-Tucker (Los Angeles Lakers) with a 2-pointer vs the Charlotte Hornets, 04/13/2021
This is your chance to grab Fitbit's Sense smartwatch for $90 less than its original price: It's now available for $240 on Amazon.
Macy’s, Inc. Reports First Quarter 2021 Results
Ryder System, Inc. (NYSE: R) Chairman and Chief Executive Officer Robert Sanchez will present a company update at the Wolfe Research Transportation and Industrials Conference.
The 73-year-old says he will not manage in the top flight again but has not said he is retiring from football.
First Thing: Biden breaks silence on ceasefire eight days into Israel-Gaza conflictJoe Biden expresses support for ceasefire between Israel and Gaza’s militant rulers Hamas. Plus, the ‘patriotic millionaires’ shaming Jeff Bezos A demolished six-storey building in al-Rimal after Israeli warplanes carried out airstrikes in Gaza City. Photograph: Anadolu Agency/Getty Images
Maybe you’re cringing at the thought of going back to an office. The seed of a business idea floats around in your head between work videoconference calls, after the kids are asleep or while you tend your pandemic garden. Or perhaps you were laid off during the pandemic and forced to work for yourself, and now you’re wondering if you should continue down this path. “In 2020, there was an explosion in new business applications, reaching nearly 4.5 million by year’s end,” according to a February report by the Economic Innovation Group, a Washington, D.C., think tank. That’s an increase of 24.3% from 2019 and was the highest on record — 51% higher than the average from 2010 to 2019. “COVID-19 was a social, cultural and emotional shock the likes of which we have not experienced for generations. Becoming an entrepreneur is a deeply personal decision, and the pandemic may have delivered the push for many to embrace it,” the report said. Deciding if self-employment is right for you depends on your personality, your financial situation and your ability to adapt. Here are tips from people who became their own bosses. SEE IF YOU’RE RIGHT FOR THE JOB Many of us now appreciate the flexibility of working from home. As a freelancer or independent contractor, you would have the power to set your own schedule. “Being in charge is very, very attractive to many people,” says Keith Hall , president and CEO of the National Association for the Self-Employed, or NASE, a resource and advocacy group. “The other side of that coin is that when you are in charge of your own destiny, you are also responsible for it.” Evaluate your abilities as a prospective employer. “Freelancers need to be self-motivated, work well independently, be organized, learn how to market their services well and be comfortable with a certain level of uncertainty,” CEO Sara Sutton said by email. She runs two companies focused on remote and flexible job opportunities: FlexJobs, a job search site, and Remote.co , which provides resources for companies considering remote work. Hall suggests asking yourself if you have the motivation to be in charge of your own destiny. “If you wake up Monday morning and decide to stay in bed late, that’s a financial loss. Nobody is going to be standing over you making you get out of your bed.” MAKE A PLAN THAT FITS YOUR FINANCES Before deciding whether to freelance, become a consultant or turn your side hustle into a business, take a close look at your finances. Many cobbled together a budget during the pandemic. Revisit that plan to make sure you understand your hard costs, such as food, rent and day care. (The 50/30/20 approach is a quick way to divide your dollars into three buckets: needs, wants and savings.) Isolate what you can put toward a business. Small costs like purchasing a domain name, buying the premium version of a software or membership fees for a networking group can add up. Use your budget to set short- and long-term business goals, Hall says. “Know exactly what you need to earn to meet your family goals and translate that into a time schedule.” EVALUATE YOUR TIMING You may need to keep your day job for a while, but you can still build your business muscle. “Being an entrepreneur was never a goal for me,” says Afenya Montgomery, founder and CEO of iCAN Collective , a creative workspace and event venue for women entrepreneurs of color in Chicago. Montgomery, a registered nurse and health care administrator, started health care consulting on the side. Her hunt for resources and support inspired the idea of building a community for women entrepreneurs of color. Montgomery and her husband were raising three children and had no business experience, so leaving her day job wasn’t an option. She spent four years learning the ropes of entrepreneurship before she felt confident enough to quit. She hosted networking events, opened a business bank account and finally registered her business as a limited liability company . Taking small steps can make the process less overwhelming, she says. SEEK SUPPORT Between strategies, goals and budgets, the thought of working for yourself might seem daunting, but entrepreneurs say you don’t have to do it alone. Laura Licursi, founder of Elite Virtual Assistants , an agency that connects employers with remote assistants, says the pandemic was surprisingly hard on her online-only business as clients cut back. Licursi, who works from the Cleveland area, navigated through the uncertainty with a mentor from SCORE, a network of volunteer business mentors that partners with the Small Business Administration. “My mentor helped me work through the inner workings of the business when things were slow, which really helped when business picked up again,” she says. Entrepreneurs have more resources available than they realize, Hall says: ● The SBA provides local resources to support aspiring entrepreneurs. ● The NASE offers a business development grant program for members. ● SCORE has mentorship resources, webinars and other online resources. ● The IRS website has information on the tax implications of self-employment. This column was provided to The Associated Press by the personal finance website NerdWallet. Amrita Jayakumar is a writer at NerdWallet. Email: email@example.com. Twitter: @ajbombay. RELATED LINKS: NerdWallet: Options to finance a startup http://bit.ly/nerdwallet-startup-loans SBA Local Assistance Programs https://www.sba.gov/local-assistance/find Amrita Jayakumar Of Nerdwallet, The Associated Press
Cyclone Tauktae LIVE Updates: However, NDRF director General SN Pradhan said that the ''worst is over'' and Cyclone Tauktae will "become a depression" by Tuesday evening
AS PRFoods hereby corrects the time for conducting the issue of subordinated convertible notes and the tap-issue of secured notes (the Notes) published in its 07.05.2021 market announcement “AS PRFoods Notice of Noteholders’ Meeting”. The correction is reflected in mark-up in the immediately following paragraph. As one of the measures to mitigate the negative effects of COVID-19, PRFoods is planning – in accordance with the announcement made to the investors and the public on 07.05.2021 – to conduct an issue of subordinated convertible notes and a tap-issue of the Notes in the 2nd quarter of 2021, the successful completion of which would, in the opinion of PRFoods, reinforce the capital structure thereof and its subsidiaries, and facilitate the smoother and faster recovery from the negative impacts caused by COVID-19 and, by such means, also the faster improvement of the financial results of PRFoods. Further, the issue of subordinated convertible notes and the tap-issue of the Notes will enable the refinancing of the short-term EUR 1,500,000 investment loan borrowed in 2017 and the short-term EUR 1,000,000 bridge financing borrowed in 2021 by PRFoods from its shareholder Amber Trust II S.C.A in connection with the maturity of the relevant loans. Although the referred note issues will have an effect on the financial covenants provided in the Terms, PRFoods highlights that the subordinated convertible notes constitute subordinated instruments, wherefore the payment obligations arising therefrom will be subordinated to other, unsubordinated payment obligations of PRFoods. In addition, AS PRFoods hereby corrects the maturity date of subordinated convertible notes published in its 07.05.2021 market announcement “AS PRFoods is Planning an Issue of Subordinated Convertible Notes and Tap-Issue of Secured Notes”. The correction is reflected in mark-up in the immediately following paragraph. PRFoods is planning to issue up to 350 subordinated convertible notes with the nominal value and issue price of EUR 10,000 per note, and with maturity date of 1 October 2025 and interest rate of 7% per calendar year. Indrek KaselaAS PRFoodsMember of the Management BoardPhone: +372 452 firstname.lastname@example.org
Dublin, May 18, 2021 (GLOBE NEWSWIRE) -- The "Folding Bikes Market by Product Type, Drive Type, Application, Price Range and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering. Folding bikes are a form of bicycles that are designed in such a way that they can be folded in a way so that they occupy less space and at the same time are lighter in weight and can be carried easily from one place to another. When folded, the bikes can be more easily carried into buildings, on public transportation, and more easily stored in compact living quarters or aboard a car, boat, or plane. Depending on the design of the bikes, the folding structure varies from model to model, which helps in folding the bikes so that it occupies less space.The folding bikes market has witnessed significant growth over the years, owing to increasing trend of advanced vehicles which occupy less space; thus, leading to the growth of the global market.The global folding bikes market has been segmented into product type, drive type, application, price range, distribution channel, and region. Based on the product type, the market has been categorized into mid-fold, vertical fold, and triangle hinge. Based on drive type, the market has been categorized into conventional and electric, which determines the propulsion of the bikes. Based on the application, the market has been categorized into sports, fitness, commercial, and others. By price range, it is divided into low, economy, and premium. Based on distribution channel, the market is bifurcated into offline and online. Region wise, the global folding bikes market has been studied across North America, Europe, Asia-Pacific, and LAMEA.The key players analyzed in the folding bikes market include Bickerton Portables, Bobbin Bicycles Ltd., Brompton Bicycle Ltd., Montague Corporation, Pacific Cycles, Vilano Bikes, Giant Bicycles, Dahon, Gocycle, Raleigh UK Ltd., and Ming Cycle.Key Benefits This study presents analytical depiction of the global folding bikes market along with the current trends and future estimations to depict the imminent investment pockets.The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.The current market is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the market.Porter's five forces analysis illustrates the potency of the buyers and suppliers. Key Topics Covered: Chapter 1: IntroductionChapter 2: Executive Summary2.1. Cxo PerspectiveChapter 3: Market Overview3.1. Market Definition and Scope3.2. Key Findings3.2.1. Top Impacting Factors3.2.2. Top Investment Pockets3.2.3. Top Winning Strategies3.3. Porter's Five Forces Analysis3.3.1. Low-To-High Bargaining Power of Suppliers3.3.2. Moderate-To-High Threat of New Entrants3.3.3. Low-To-High Threat of Substitutes3.3.4. Low-To-High Intensity of Rivalry3.3.5. Low-To-High Bargaining Power of Buyers3.4. Key Player Positioning, 20193.5. Market Dynamics3.5.1. Drivers220.127.116.11. Implementation of Government Regulations to Encourage the Use of Electric Bikes18.104.22.168. Consumer Inclination Toward Use of E-Bikes as an Eco-Friendly & Efficient Solution for Commute22.214.171.124. Increase in Fuel Costs126.96.36.199. Growth Interest in Cycling as a Fitness & Recreational Activity3.5.2. Restraints188.8.131.52. High Cost of E-Bikes3.5.3. Opportunities184.108.40.206. Improvement in Bicycling Infrastructure & Battery Technology3.6. Impact of COVID-19 on the Market3.6.1. Evolution of Outbreaks220.127.116.11. Sars18.104.22.168. COVID-193.6.2. Micro-Economic Impact Analysis22.214.171.124. Consumer Trend126.96.36.199. Technology Trend188.8.131.52. Regulatory Trend3.6.3. Macro-Economic Impact Analysis184.108.40.206. Gdp220.127.116.11. Import/Export Analysis18.104.22.168. Employment Index3.6.4. Impact on the Folding Bikes Industry AnalysisChapter 4: Folding Bikes Market, by Product Type4.1. Overview4.2. Mid-Fold4.2.1. Key Market Trends, Growth Factors and Opportunities4.2.2. Market Size and Forecast, by Region4.2.3. Market Analysis by Country4.3. Vertical Fold4.3.1. Key Market Trends, Growth Factors and Opportunities4.3.2. Market Size and Forecast, by Region4.3.3. Market Analysis by Country4.4. Triangle Hinge4.4.1. Key Market Trends, Growth Factors and Opportunities4.4.2. Market Size and Forecast, by Region4.4.3. Market Analysis by CountryChapter 5: Folding Bikes Market, by Drive Type5.1. Overview5.2. Conventional5.2.1. Key Market Trends, Growth Factors and Opportunities5.2.2. Market Size and Forecast, by Region5.2.3. Market Analysis by Country5.3. Electric5.3.1. Key Market Trends, Growth Factors and Opportunities5.3.2. Market Size and Forecast, by Region5.3.3. Market Analysis by CountryChapter 6: Folding Bikes Market, by Application6.1. Overview6.2. Sports6.2.1. Key Market Trends, Growth Factors and Opportunities6.2.2. Market Size and Forecast, by Region6.2.3. Market Analysis by Country6.3. Fitness6.3.1. Key Market Trends, Growth Factors and Opportunities6.3.2. Market Size and Forecast, by Region6.3.3. Market Analysis by Country6.4. Commercial6.4.1. Key Market Trends, Growth Factors and Opportunities6.4.2. Market Size and Forecast, by Region6.4.3. Market Analysis by Country6.5. Others6.5.1. Key Market Trends, Growth Factors and Opportunities6.5.2. Market Size and Forecast, by Region6.5.3. Market Analysis by CountryChapter 7: Folding Bikes Market, by Price Range7.1. Overview7.2. Low7.2.1. Key Market Trends, Growth Factors and Opportunities7.2.2. Market Size and Forecast, by Region7.2.3. Market Analysis by Country7.3. Economy7.3.1. Key Market Trends, Growth Factors and Opportunities7.3.2. Market Size and Forecast, by Region7.3.3. Market Analysis by Country7.4. Premium7.4.1. Key Market Trends, Growth Factors and Opportunities7.4.2. Market Size and Forecast, by Region7.4.3. Market Analysis by CountryChapter 8: Folding Bikes Market, by Distribution Channel8.1. Overview8.2. Offline8.2.1. Key Market Trends, Growth Factors and Opportunities8.2.2. Market Size and Forecast, by Region8.2.3. Market Analysis by Country8.3. Online8.3.1. Key Market Trends, Growth Factors and Opportunities8.3.2. Market Size and Forecast, by Region8.3.3. Market Analysis by CountryChapter 9: Folding Bikes Market, by Region9.1. Overview9.2. North America9.3. Europe9.4. Asia-Pacific9.5. LAMEAChapter 10: Company Profiles10.1. Bickerton Portables (Subsidiary of Mobility Holdings, Ltd.)10.1.1. Company Overview10.1.2. Company Snapshot10.1.3. Product Portfolio10.1.4. Key Strategic Moves and Developments10.2. Bobbin Bicycles Ltd10.2.1. Company Overview10.2.2. Company Snapshot10.2.3. Product Portfolio10.3. Brompton Bicycle Ltd10.3.1. Company Overview10.3.2. Company Snapshot10.3.3. Product Portfolio10.3.4. Key Strategic Moves and Developments10.4. Dahon10.4.1. Company Overview10.4.2. Company Snapshot10.4.3. Operating Business Segments10.4.4. Product Portfolio10.4.5. Key Strategic Moves and Developments10.5. Giant Bicycles10.5.1. Company Overview10.5.2. Company Snapshot10.5.3. Product Portfolio10.5.4. Business Performance10.6. Gocycle (Subsidiary of Karbon Kinetics)10.6.1. Company Overview10.6.2. Company Snapshot10.6.3. Operating Business Segments10.6.4. Product Portfolio10.6.5. Key Strategic Moves and Developments10.7. Ming Cycle10.7.1. Company Overview10.7.2. Company Snapshot10.7.3. Operating Business Segments10.7.4. Product Portfolio10.7.5. Key Strategic Moves and Developments10.8. Montague Corporation10.8.1. Company Overview10.8.2. Company Snapshot10.8.3. Product Portfolio10.8.4. Key Strategic Moves and Developments10.9. Pacific Cycles10.9.1. Company Overview10.9.2. Company Snapshot10.9.3. Product Portfolio10.9.4. Key Strategic Moves and Developments10.10. Raleigh UK Ltd10.10.1. Company Overview10.10.2. Company Snapshot10.10.3. Operating Business Segments10.10.4. Product Portfolio10.10.5. Key Strategic Moves and Developments10.11. Vilano Bikes (Subsidiary of Venditio Group LLC)10.11.1. Company Overview10.11.2. Company Snapshot10.11.3. Product PortfolioFor more information about this report visit https://www.researchandmarkets.com/r/x6dd4f CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Mary Bastholm, 15, disappeared in 1968 and she has long been suspected to be a victim of Gloucester serial killer Fred West.
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The 14-week inquest into the disaster in 2016 is due to hear its first evidence later today.
Downing Strategic Micro-Cap Investment Trust Plc LEI Code: 213800QMYPUW4POFFX69 Net Asset Values The Company announces the following, all of which is unaudited: Total Assets - including current period revenue* at 17 May 2021£45.96mNet Assets - including current period revenue* at 17 May 2021£45.96mNumber of shares in issue (excluding treasury):51,978,201 The Net Asset Value (NAV) per share at 17 May 2021 was: Per Ordinary share (bid price) - including current period revenue*88.42pPer Ordinary share (bid price) - excluding current period revenue*87.20p Ordinary share price 76.50pPremium/(Discount) to NAV (including current period revenue)(13.48%) * Current period revenue covers the period 01/03/2020 to 17/05/2021 and includes undistributed revenue in respect of that period.
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Rural areas in Assam, especially areas such as the tea gardens and the chars are already bearing the brunt of poor health infrastructure
Qantas changes lab used to process Covid tests on Australians on India repatriation flightAirline stands by results, despite reports some of the 70 people barred from returning home on Saturday later tested negative A half-empty Qantas repatriation flight landed in Darwin on Saturday after 70 people were barred from boarding. The airline has now changed the laboratory it uses to process Covid tests. Photograph: Aaron Bunch/AAP
This is SO exciting
MONACO, May 18, 2021 (GLOBE NEWSWIRE) -- Eneti Inc. (NYSE: NETI) (“Eneti” or the “Company”), today reported its results for the three months ended March 31, 2021. The Company also announced that on May 14, 2021 its Board of Directors declared a quarterly cash dividend of $0.05 per share on the Company’s common shares. Results for the Three Months Ended March 31, 2021 and 2020 For the first quarter of 2021, the Company’s GAAP net income was $41.9 million, or $3.84 per diluted share, including: a gain subsequent to an increase in fair value less costs to sell of approximately $15.5 million, or $1.43 per diluted share, taken related to the Company’s previously announced plan to exit the dry bulk industry. The gain is primarily the result of an increase in the fair value of common shares of Star Bulk Carriers Corp. (“Star Bulk”) (NASDAQ: SBLK) and Eagle Bulk Shipping Inc. (“Eagle”) (NASDAQ: EGLE) received or to be received as a portion of the compensation for the purchase of certain of our vessels;the write-off of $3.7 million, or $0.34 per diluted share, of deferred financing costs on repaid credit facilities related to vessels that have been sold; anda non-cash gain of approximately $15.8 million and cash dividend income of $0.2 million, or $1.47 per diluted share, from the Company’s equity investments (primarily Scorpio Tankers Inc.). For the first quarter of 2020, the Company’s GAAP net loss was $124.7 million, or $18.12 per diluted share. These results include a non-cash loss of approximately $89.1 million and cash dividend income of $0.4 million, or $12.88 per diluted share, from the Company’s equity investment in Scorpio Tankers Inc., and a write-down of approximately $17.0 million, or $2.47 per diluted share, related to the classification of two Ultramax vessels and one Kamsarmax vessel as held for sale.Total vessel revenues for the first quarter of 2021 were $59.8 million, compared to $40.8 million for the same period in 2020.Earnings before interest, taxes, depreciation and amortization (“EBITDA”) for the first quarter of 2021 was $52.0 million and EBITDA for the first quarter of 2020 was a loss of $100.1 million (see Non-GAAP Financial Measures below).For the first quarter of 2021, the Company’s adjusted net income was $30.0 million, or $2.75 adjusted per diluted share, which excludes the impact of the gain of approximately $15.5 million related to the Company’s previously announced plan to exit the dry bulk industry due to an increase in the fair value of the assets to be received in exchange for certain vessels as described above and the write-off of $3.7 million of deferred financing costs on repaid credit facilities related to vessels that have been sold.For the first quarter of 2020, the Company’s adjusted net loss was $107.7 million, or $15.65 adjusted per diluted share, which excludes the write-down of approximately $17.0 million related to the classification of two Ultramax vessels and one Kamsarmax vessel as held for sale.Adjusted EBITDA for the first quarter of 2021 was $36.5 million compared to an $83.1 million loss in the prior year period (see Non-GAAP Financial Measures below). As of May 14, 2021, the Company’s remaining fleet consists of 10 Ultramax vessels and 2 Kamsarmax vessels, as well as five time chartered-in vessels which are expected to be redelivered to their respective owners during the remainder of the second quarter of 2021 and the third quarter of 2021. Cash and Cash Equivalents As of May 14, 2021, the Company had approximately $152.8 million in cash and cash equivalents. Dry Bulk Exit Eneti Inc. announced on August 3, 2020 its intention to transition away from the business of dry bulk commodity transportation and towards marine-based renewable energy including investing in the next generation of wind turbine installation vessels. The following table summarizes when the Company delivered or expects to deliver the vessels to be sold to their respective buyers. Ultramax Vessels Kamsarmax Vessels Total Vessels Quarter # of Vessels Sales Price($000’s) # of Vessels Sales Price($000’s) # of Vessels Sales Price($000’s) Unsold Vessels at September 30, 2020 33 16 49 Q4 2020 5 $88,460 3 $54,865 8 $143,325 Q1 2021 11 $187,333 7 $123,127 18 $310,460(1)(2)Q2 2021: April 1 - May 14 7 $124,350 4 $81,500 11 $205,850(3)(4)Q2 2021: May 15 - June 30 7 $117,672 0 $0 7 $117,672(5)Total Vessels Sold 30 $517,815 14 $259,492 44 $777,307 Unsold Vessels at May 14, 2021 3 2 5 (1) Includes approximately $89.3 million of debt assumed or reimbursed to the Company by buyer(2) Excludes approximately 2.6 million shares of Star Bulk common stock(3) Includes approximately $12.7 million of debt assumed by buyer(4) Excludes approximately 0.4 million shares of Star Bulk common stock(5) Excludes a warrant for 212,315 shares of Eagle common stock Contract to Build a Wind Turbine Installation Vessel On May 11, 2021, the Company has entered into a binding agreement with Daewoo Shipbuilding and Marine Engineering for the construction of one wind turbine installation vessel (“WTIV”). The contract price is $330.0 million and the vessel is expected to be delivered early in the third quarter of 2024. In addition, the Company holds an option to construct an additional WTIV at the same price, net of currency adjustments. The vessel is an NG-16000X design by GustoMSC (a subsidiary of NOV Inc.), and includes a 2,600 Ton Leg Encircling Crane from Huisman Equipment B.V. of the Netherlands. The vessel is capable of installing up to 20 Megawatt turbines at depths of up to 65 meters of water, and it can be adapted to operate on the alternate fuels of LNG or ammonia. Jones Act Initiative The Company is in advanced discussions with several American shipbuilders for the construction of a WTIV. This vessel would be constructed, financed, and operated by American citizens in compliance with the Jones Act, in order to address the heightened demand for transportation and installation capacity on the Continental Shelf of the United States. Investment in Star Bulk During March and April 2021, the Company sold approximately 2.6 million common shares of Star Bulk for aggregate net proceeds of approximately $45.5 million. The Company received these common shares as compensation for SBI Subaru and SBI Ursa, Ultramax bulk carriers built in 2015, SBI Capoeira and SBI Carioca, Kamsarmax bulk carriers built in 2015, and SBI Lambada and SBI Macarena, Kamsarmax bulk carriers built in 2016. As part of the transaction, the related existing lease finance arrangements were also assumed by Star Bulk. One vessel, SBI Pegasus, remains to be delivered to Star Bulk, for which Star Bulk will assume debt of $12.7 million and the Company will also receive approximately 0.4 million common shares of Star Bulk and be reimbursed for the February 2021 debt payment that was made in advance. Debt Overview The Company’s outstanding debt balances, gross of unamortized deferred financing costs as of March 31, 2021 and May 14, 2021, are as follows (dollars in thousands): As ofMarch 31, 2021 As of May 14,2021 Credit Facility Amount Outstanding$85.5 Million Credit Facility $10,725 $— $184.0 Million Credit Facility 21,862 — $34.0 Million Credit Facility 29,679 — $90.0 Million Credit Facility 11,257 — $19.6 Million Lease Financing - SBI Rumba 15,285 15,175 $19.0 Million Lease Financing - SBI Tango 15,798 15,690 $19.0 Million Lease Financing - SBI Echo 15,963 15,863 $20.5 Million Lease Financing - SBI Hermes 17,427 17,314 $21.4 Million Lease Financing - SBI Samba 18,588 18,462 CMBFL Lease Financing 12,672 12,672 $45.0 Million Lease Financing - SBI Virgo & SBI Libra 19,194 — AVIC Lease Financing 33,576 — $67.3 Million Lease Financing 37,158 — Total $259,184 $95,176 Quarterly Cash Dividend In the first quarter of 2021, the Company’s Board of Directors declared and the Company paid a quarterly cash dividend of $0.05 per share totaling approximately $0.6 million. On May 14, 2021, the Company’s Board of Directors declared a quarterly cash dividend of $0.05 per share, payable on or about June 15, 2021, to all shareholders of record as of June 1, 2021. As of May 17, 2021, 11,233,604 shares were outstanding. Share Repurchase Program During the first quarter of 2021, the Company repurchased approximately 61,000 shares of the Company’s common stock, at an average cost of $18.01 per share. The Company subsequently repurchased approximately 15,000 shares of the Company’s common stock at an average cost of $19.98 per share from April 1, 2021 through May 17, 2021. These repurchases, totaling approximately $1.4 million, were made under the Board of Directors authorized share repurchase program and funded from available cash resources. As of May 17, 2021, the Company had $31.9 million remaining under the authorized share repurchase program. COVID-19 Since the beginning of the calendar year 2020, the ongoing outbreak of the novel coronavirus (COVID-19) that originated in China in December 2019 and that has spread to most developed nations of the world has resulted in numerous actions taken by governments and governmental agencies in an attempt to mitigate the spread of the virus. These measures have resulted in a significant reduction in global economic activity and extreme volatility in the global financial and commodities markets. During the first quarter of 2021, the dry bulk charter market saw a significant recovery, however future charter rates remain highly dependent on the duration and continuing impact of the COVID-19 pandemic, as evidenced by the recent resurgence of cases in India and other parts of the world. When these measures and the resulting economic impact will end and what the long-term impact of such measures on the global economy will be are not known at this time. As a result, the extent to which COVID-19 will impact the Company’s results of operations and financial condition, including its planned transition towards marine-based renewable energy, will depend on future developments, which are highly uncertain and cannot be predicted. Eneti Inc. and SubsidiariesCondensed Consolidated Statements of Operations (Amounts in thousands, except per share data) Unaudited Three Months Ended March 31, 2021 2020Revenue: Vessel revenue $59,829 $40,824 Operating expenses: Voyage expenses 6,080 1,360 Vessel operating costs 15,611 24,684 Charterhire expense 11,980 4,698 Vessel depreciation — 12,343 General and administrative expenses 7,585 6,528 (Gain) loss / write-down on assets sold or held for sale (15,532) 17,009 Total operating expenses 25,724 66,622 Operating income (loss) 34,105 (25,798)Other income (expense): Interest income 8 123 Income (loss) from equity investments 15,972 (88,631)Foreign exchange income (loss) 71 (54)Financial expense, net (8,293) (10,343)Total other income (expense) 7,758 (98,905)Net income (loss) $41,863 $(124,703) Earnings (loss) per share: Basic $3.94 $(18.12)Diluted $3.84 $(18.12) Basic weighted average number of common shares outstanding 10,631 6,883 Diluted weighted average number of common shares outstanding 10,892 6,883 Eneti Inc. and SubsidiariesCondensed Consolidated Balance Sheets (Dollars in thousands) Unaudited March 31, 2021 December 31, 2020Assets Current assets Cash and cash equivalents $81,509 $84,002 Accounts receivable 23,735 21,086 Prepaid expenses and other current assets 14,817 16,515 Total current assets 120,061 121,603 Non-current assets Assets held for sale 401,978 708,097 Equity investments 70,241 24,116 Deferred financing costs, net 674 1,143 Other assets 7,150 13,236 Total non-current assets 480,043 746,592 Total assets $600,104 $868,195 Liabilities and shareholders’ equity Current liabilities Bank loans, net $6,034 $13,226 Capital lease obligations 16,226 32,677 Accounts payable and accrued expenses 29,198 41,113 Total current liabilities 51,458 87,016 Non-current liabilities Bank loans, net 66,501 157,511 Capital lease obligations 167,462 351,070 Total non-current liabilities 233,963 508,581 Total liabilities 285,421 595,597 Shareholders’ equity Preferred shares, $0.01 par value per share; 50,000,000 shares authorized; no shares issued or outstanding — — Common shares, $0.01 par value per share; authorized 31,875,000 shares as of March 31, 2021 and December 31, 2020; outstanding 11,248,763 shares as of March 31, 2021 and 11,310,073 as of December 31, 2020 839 859 Paid-in capital 1,730,643 1,803,431 Common shares held in treasury, at cost; 20,710 shares and 1,934,092 shares at March 31, 2021 and December 31, 2020, respectively (414) (73,444)Accumulated deficit (1,416,385) (1,458,248)Total shareholders’ equity 314,683 272,598 Total liabilities and shareholders’ equity $600,104 $868,195 Eneti Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows (unaudited)(Amounts in thousands) Three Months ended March 31, 2021 2020Operating activities Net income (loss) $41,863 $(124,703)Adjustment to reconcile net income (loss) to net cash provided by operating activities: Restricted share amortization 1,890 2,082 Vessel depreciation — 12,343 Amortization of deferred financing costs 516 1,013 Write-off of deferred financing costs 3,713 — Loss / write-down on assets held for sale (15,675) 16,077 Net unrealized (gains) losses on investments (14,889) 89,072 Dividend income on equity investment (216) (441)Drydocking expenditure (2,925) (2,207)Changes in operating assets and liabilities: Decrease in accounts receivable (3,661) (8,731)Increase in prepaid expenses and other assets 8,316 5,877 Increase in accounts payable and accrued expenses (11,916) (11,638)Net cash provided by (used in) operating activities 7,016 (21,256)Investing activities Sale of equity investment 8,502 — Dividend income on equity investment 216 441 Proceeds from sale of assets held for sale 198,973 — Scrubber payments (429) (14,874)Net cash provided by (used in) investing activities 207,262 (14,433)Financing activities Proceeds from issuance of long-term debt — 79,000 Repayments of long-term debt (215,104) (34,182)Common shares repurchased (1,104) — Dividends paid (563) (1,450)Debt issue costs paid — — Net cash (used in) provided by financing activities (216,771) 43,368 Increase (decrease) in cash and cash equivalents (2,493) 7,679 Cash and cash equivalents, beginning of period 84,002 42,530 Cash and cash equivalents, end of period $81,509 $50,209 Conference Call on Results: A conference call to discuss the Company’s results will be held at 9:00 AM Eastern Daylight Time / 3:00 PM Central European Summer Time on May 18, 2021. Those wishing to listen to the call should dial 1 (866) 219-5268 (U.S.) or 1 (703) 736-7424 (International) at least 10 minutes prior to the start of the call to ensure connection. The conference participant passcode is 5985886. The information provided on the teleconference is only accurate at the time of the conference call, and the Company will take no responsibility for providing updated information. There will also be a simultaneous live webcast over the internet, through the Eneti Inc. website www.eneti-inc.com. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. Webcast URL: https://edge.media-server.com/mmc/p/s4ty8fq5 About Eneti Inc. Eneti Inc. is focused on marine-based renewable energy and has invested in the next generation of wind turbine installation vessels. Additional information about the Company is available on the Company’s website www.eneti-inc.com, which is not a part of this press release. Non-GAAP Financial Measures To supplement the Company’s financial information presented in accordance with accounting principles generally accepted in the U.S. (“GAAP”) management uses certain “non-GAAP financial measures” as such term is defined in Regulation G promulgated by the U.S. Securities and Exchange Commission (the “SEC”). Generally, a non-GAAP financial measure is a numerical measure of a company’s operating performance, financial position or cash flows that excludes or includes amounts that are included in, or excluded from, the most directly comparable measure calculated and presented in accordance with GAAP. Management believes the presentation of these measures provides investors with greater transparency and supplemental data relating to the Company’s financial condition and results of operations, and therefore a more complete understanding of factors affecting its business than GAAP measures alone. In addition, management believes the presentation of these matters is useful to investors for period-to-period comparison of results as the items may reflect certain unique and/or non-operating items such as asset sales, write-offs, contract termination costs or items outside of management’s control. Earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted net income (loss) and related per share amounts, as well as adjusted EBITDA are non-GAAP financial measures that the Company believes provide investors with a means of evaluating and understanding how the Company’s management evaluates the Company’s operating performance. These non-GAAP financial measures should not be considered in isolation from, as substitutes for, nor superior to financial measures prepared in accordance with GAAP. Please see below for reconciliations of EBITDA, adjusted net income (loss) and related per share amounts, and adjusted EBITDA. EBITDA (unaudited) Three Months Ended March 31,In thousands2021 2020Net income (loss)$41,863 (124,703)Add Back: Net interest expense4,056 9,206 Depreciation and amortization (1)6,119 15,438 EBITDA$52,038 (100,059) (1) Includes depreciation, amortization of deferred financing costs and restricted share amortization. Adjusted net income (loss) (unaudited) Three Months Ended March 31,In thousands, except per share data2021 2020 Amount Per share Amount Per shareNet income (loss)$41,863 $3.84 $(124,703) $(18.12)Adjustments: (Gain) loss / write-down on assets(15,532) (1.43) 17,009 2.47 Write-off of deferred financing cost3,713 0.34 — — Total adjustments$(11,819) $(1.09) $17,009 $2.47 Adjusted net income (loss)$30,044 $2.75 $(107,694) $(15.65) Adjusted EBITDA (unaudited) Three Months EndedMarch 31,In thousands2021 2020Net income (loss)$41,863 (124,703)Impact of adjustments(11,819) 17,009 Adjusted net (loss) income30,044 (107,694)Add Back: Net interest expense4,056 9,206 Depreciation and amortization (1)2,406 15,438 Adjusted EBITDA$36,506 $(83,050) (1) Includes depreciation, amortization of deferred financing costs and restricted share amortization. Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements. We undertake no obligation, and specifically decline any obligation, except as required by law, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and asset values, changes in demand for Wind Turbine Installation Vessel (“WTIV”) capacity, the length and severity of the ongoing novel coronavirus (COVID-19) outbreak, including its effects on demand for WTIVs and the installation of offshore windfarms thereof, changes in our operating expenses, including fuel costs, drydocking and insurance costs, the market for our WTIVs, availability of financing and refinancing, counterparty performance, ability to obtain financing and the availability of capital resources (including for capital expenditures) and comply with covenants in such financing arrangements, planned capital expenditures, our ability to successfully identify, consummate, integrate and realize the expected benefits from acquisitions and changes to our business strategy, fluctuations in the value of our investments, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. CONTACT: Contact: Eneti Inc. +377-9798-5715 (Monaco) +1-646-432-1675 (New York)
WEST CONSHOHOCKEN, Pa., May 18, 2021 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a clinical-stage biopharmaceutical company pursuing novel therapeutics for cardio-metabolic and fatty liver diseases with high unmet medical need, announced today that Alex Howarth has joined Madrigal as Chief Financial Officer. “I am pleased to welcome Alex to Madrigal as our Chief Financial Officer as we advance our two Phase 3 studies for resmetirom and enter a critical phase of development and growth within the Company. In the past year, we have advanced commercial planning for the U.S. and key Ex-U.S. markets,” said Paul Friedman, M.D., Chief Executive Officer of Madrigal. “As we have indicated in the past, we will seek partnerships for Ex-U.S. commercialization, and Alex will greatly assist in these efforts in addition to serving as our CFO. He is an accomplished executive who brings a wealth of experience from commercial-stage biotech companies as well as multinational pharmaceutical organizations, such as GlaxoSmithKline,” Friedman said. “His experience includes developing financial and corporate strategy, long-range planning, business development and expertise in implementing financial and operational systems to support company growth. He adds depth and experience to our team which will be key as Madrigal prepares to transition from a development-stage company to a commercial-stage company.” Mr. Howarth, age 52, brings more than 25 years of biopharmaceutical experience and is recognized for his financial, operational, and transactional achievements. Most recently, Mr. Howarth was Chief Operating Officer at Akcea Therapeutics, a publicly traded biopharmaceutical company with commercial operations in North America and Europe, where he served as a core member of the executive leadership team leading up to its acquisition by Ionis Pharmaceuticals. Prior to Akcea, Alex was President and Chief Financial Officer at Lycera Corporation; Chief Financial Officer and Chief Business Officer at moksha8, a TPG portfolio company focused on commercializing products in emerging markets; and Chief Business Officer at Vitae Pharmaceuticals. Earlier in his career, Alex spent ten years at GlaxoSmithKline in a variety of business development and finance roles, including leading GSK Venture Partnerships and serving as Senior Director, Worldwide Business Development. Prior to joining GSK, Mr. Howarth worked at KPMG in London, UK where he qualified as a chartered accountant. Mr. Howarth has an honors degree in biochemistry from the University of Bath, England. “With resmetirom, Madrigal is positioned to achieve first mover status in the substantial and unmet NASH market and improve the quality of life and health for millions of NASH patients in America and worldwide” said Mr. Howarth. “I am tremendously excited to be joining Madrigal and look forward to working with the leadership team to contribute to the continued success and growth at Madrigal.” “As we begin the transition of our CFO role from Marc Schneebaum to Alex, I would like to thank Marc for the tremendous impact he has had on Madrigal’s success over the last five years,” Dr. Friedman said. “Marc brought unique skills and made significant contributions at Madrigal. Most notably, he leveraged Madrigal’s $60 million in liquidity sources as a new public company and thereafter serially financed over $600 million in equity capital in support of the initiation and progression of our critical Phase 2 and Phase 3 trials for resmetirom. I have greatly enjoyed having Marc as my professional colleague and partner, and I wish him the best in his future endeavors.” About Madrigal Pharmaceuticals Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a clinical-stage biopharmaceutical company pursuing novel therapeutics that target a specific thyroid hormone receptor pathway in the liver, which is a key regulatory mechanism common to a spectrum of cardio-metabolic and fatty liver diseases with high unmet medical need. Madrigal’s lead candidate, resmetirom, is a first-in-class, orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR)-β selective agonist that is in currently in two Phase 3 clinical studies, MAESTRO-NASH and MAESTRO-NAFLD-1, designed to demonstrate multiple benefits across a broad spectrum of NASH (non-alcoholic steatohepatitis) and NAFLD (non-alcoholic fatty liver disease) patients. For more information, visit www.madrigalpharma.com. Forward-Looking Statements This communication contains “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that are based on our beliefs and assumptions and on information currently available to us, but are subject to factors beyond our control. Forward-looking statements include but are not limited to statements or references concerning: our clinical trials; research and development activities; the timing and results associated with the future development of our lead product candidate, MGL-3196 (resmetirom), including sector leadership; the timing and completion of projected 2021 clinical milestone events, including enrollment, top-line data and open label projections; our primary and secondary study endpoints for resmetirom and the potential for achieving such endpoints and projections; optimal dosing levels for resmetirom; projections regarding potential future NASH resolution, safety, fibrosis treatment, cardiovascular effects, lipid treatment or biomarker effects with resmetirom; the predictive power of resmetirom liver fat reduction on NASH resolution with fibrosis reduction or improvement; the achievement of enrollment objectives concerning patient number, safety database and/or timing for our studies; potential NASH or NAFLD patient risk profile benefits with resmetirom; and our possible or assumed future results of operations and expenses, business strategies and plans, capital needs and financing plans, trends, market sizing, competitive position, industry environment and potential growth opportunities, among other things. Forward-looking statements: reflect management’s current knowledge, assumptions, judgment and expectations regarding future performance or events; include all statements that are not historical facts; and can be identified by terms such as “allow,” “anticipates,” “be,” “believes,” “continue,” “could,” “demonstrates,” ”design,” “estimates,” “expects,” “forecasts,” “future,” “goal,” “hopeful,” “intends,” “may,” “might,” “plans,” “potential,” “predicts,” ”predictive,” “projects,” “seeks,” “should,” “will,” “would” or similar expressions and the negatives of those terms. Although management presently believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct and you should be aware that actual results could differ materially from those contained in the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties including, but not limited to: our clinical development of resmetirom; enrollment uncertainties, generally and in relation to COVID-19 shelter-in-place and social distancing measures and individual precautionary measures that may be implemented or continued for an uncertain period of time; outcomes or trends from competitive studies; future topline data timing or results; the risks of achieving potential benefits in studies that include substantially more patients than our prior studies; the timing and outcomes of clinical studies of resmetirom; and the uncertainties inherent in clinical testing. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Madrigal undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events. Please refer to Madrigal's filings with the U.S. Securities and Exchange Commission for more detailed information regarding these risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. We specifically discuss these risks and uncertainties in greater detail in the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2020, as well as in our other filings with the SEC. Investor Contact:Paul Friedman, Madrigal Pharmaceuticals, Inc. IR@madrigalpharma.com Media Contact:Mike Beyer, Sam Brown Inc. firstname.lastname@example.org 312 961 2502
Vietnam's northern province of Bac Giang ordered on Tuesday four industrial parks, including three that house production facilities of Taiwan's Foxconn, to temporarily shut down due to an outbreak of COVID-19. The industrial parks will be closed until further notice, the province's People's Committee said in a statement.