LMT Investors Have Opportunity to Lead Lockheed Martin Corporation Securities Fraud Lawsuit

PR Newswire

NEW YORK , Aug. 4, 2025 /PRNewswire/ —

Why: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Lockheed Martin Corporation (NYSE: LMT) between January 23, 2024 and July 21, 2025, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 26, 2025.

So What: If you purchased Lockheed Martin securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the Lockheed Martin class action, go to https://rosenlegal.com/submit-form/?case_id=2661 or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 26, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) Lockheed Martin lacked effective internal controls regarding its purportedly risk adjusted contracts including the reporting of its risk adjusted profit booking rate; (2) Lockheed Martin lacked effective procedures to perform reasonably accurate comprehensive reviews of program requirements, technical complexities, schedule, and risks; (3) Lockheed Martin overstated its ability to deliver on its contract commitments in terms of cost, quality and schedule; (4) as a result, Lockheed Martin was reasonably likely to report significant losses; and (5) as a result of the foregoing, defendants’ positive statements about Lockheed Martin’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Lockheed Martin class action, go to https://rosenlegal.com/submit-form/?case_id=2661 or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.

Phillip Kim, Esq.

The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

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SOURCE THE ROSEN LAW FIRM, P. A.

CORRECTING and REPLACING Offerpad Reports Second Quarter 2025 Results, Highlights Capital Raise and Momentum Across Asset-Light Services

CORRECTING and REPLACING Offerpad Reports Second Quarter 2025 Results, Highlights Capital Raise and Momentum Across Asset-Light Services

TEMPE, Ariz.–(BUSINESS WIRE)–
In the “Third Quarter 2025 Outlook” table, the figures in the “Homes Sold” and “Revenue” rows have been corrected.

The corrected release reads:

OFFERPAD REPORTS SECOND QUARTER 2025 RESULTS, HIGHLIGHTS CAPITAL RAISE AND MOMENTUM ACROSS ASSET-LIGHT SERVICES

Offerpad (NYSE: OPAD), a leading real estate tech company built to simplify the home selling and buying experience, today announced its financial results for the second quarter ended June 30, 2025.

Offerpad reported revenue of $160.3M and sold 452 homes during the quarter. The company continued to demonstrate operational discipline and saw strong momentum across its asset-light services, supporting platform scalability and long-term growth.

“We’re seeing strong validation of our model and the progress we’ve made,” said Brian Bair, Chairman and CEO of Offerpad. “We’ve built a platform that brings together sellers, agents, cash buyers, and institutional partners, creating a true real estate solutions center. This foundation positions us to scale our asset-light services, operate with greater efficiency, and be ready to accelerate as market activity returns.”

Q2 2025 Highlights

  • Capital Raise: With $21M raised in July, Offerpad’s total liquidity exceeds $75M, strengthening the balance sheet and supporting key growth initiatives.
  • HomePro Expansion: Now live in all markets, Offerpad HomePro enables specialized agents to deliver in-person selling solutions—including Offerpad’s cash offer, open market listings, third-party investor marketplace, and an upside program that provides cash now, plus the potential for more after listing. HomePro is already driving strong engagement and conversations directly in the seller’s living room.
  • Record Renovate Quarter: Offerpad Renovate delivered $6.4 million in revenue, the highest quarterly revenue since the product’s launch, reflecting increased demand from institutional and investor partners.
  • Advancing Direct+: Upgrades to the asset-light Direct+ platform are improving SFR buyer engagement and aligning inventory with partner buy boxes.

Financial Summary

  • Revenue: $160.3M

  • Homes Sold: 452

  • Gross Margin: 8.9%

  • Adjusted EBITDA Loss: ($4.8M),improving 39% sequentially

  • Unrestricted Cash: $22.6M

  • Total Liquidity: Over $55M

“Our July capital raise totaled $21M, is primarily non-dilutive, and gives us the ability to continue investing in scalable, margin-positive areas of the business,” said Peter Knag, CFO of Offerpad. “While our cash offer remains the cornerstone of our model, we’re also advancing complementary services like HomePro, which enhances how we deliver solutions in-person, along with Renovate and Direct+, which help us reach new customer segments and serve institutional buyers. These strategic investments support our asset-light approach and long-term growth.”

Looking Ahead

Offerpad expects Q3 2025 revenue to be in the range of $130 to $150 Million with 360 to 410 homes sold. The company anticipates continued sequential improvement in Adjusted EBITDA as it scales its asset-light services and maintains cost discipline.

For additional information, please refer to Offerpad’s shareholder letter and full financial results available at investor.offerpad.com.

Q2 2025 Financial Results (quarter over quarter)

 

 

Q2 2025

Q1 2025

Percentage

Change

Homes acquired

443

454

(2%)

Homes sold

452

460

(2%)

Revenue

$160.3M

$160.7M

(0%)

Gross profit

$14.2M

$10.5M

35%

Net loss

($10.9M)

($15.1M)

28%

Adjusted EBITDA

($4.8M)

($7.8M)

39%

Diluted Net Loss per Share

($0.39)

($0.55)

29%

Gross profit per home sold

$31,400

$22,800

37%

Contribution profit after interest per home sold

$12,400

$500

2380%

Cash and cash equivalents

$22.7M

$30.8M

(26%)

 

Q2 2025 Financial Results (year over year)

 

 

 

 

 

Q2 2025

Q2 2024

Percentage

Change

Homes acquired

443

831

(47%)

Homes sold

452

742

(39%)

Revenue

$160.3M

$251.1M

(36%)

Gross profit

$14.2M

$21.9M

(35%)

Net loss

($10.9M)

($13.8M)

(21%)

Adjusted EBITDA

($4.8M)

($4.4M)

(8%)

Diluted Net Loss per Share

($0.39)

($0.50)

22%

Gross profit per home sold

$31,400

$29,500

7%

Contribution profit after interest per home sold

$12,400

$14,500

(14%)

Cash and cash equivalents

$22.7M

$56.9M

(60%)

Additional information regarding Offerpad’s second quarter of 2025 financial results and management commentary can be found by accessing the Company’s Quarterly Shareholder presentation on the Offerpad investor relations website.

Third Quarter 2025 Outlook

Offerpad is providing its third quarter outlook for 2025 as follows:

 

Q3 2025 Outlook

Homes Sold

360 to 410

Revenue

$130M to $150M

Adjusted EBITDA1

Sequential Improvement

1 See Non-GAAP financial measures below for an explanation of why a reconciliation of this guidance cannot be provided.

Conference Call and Webcast Details

Brian Bair, Chairman and CEO, and Peter Knag, CFO, will host a conference call and accompanying webcast on August 5, 2025, at 4:30 p.m. ET. The webcast can be accessed on Offerpad’s Investor Relations website. Those interested can register here. Access to a replay of the webcast will be available from the same website address shortly after the live webcast concludes.

About Offerpad

Offerpad, dedicated to simplifying the process of buying and selling homes, is a publicly traded company committed to providing comprehensive solutions that removes the friction from real estate. Our advanced real estate platform offers a range of services, from consumer cash offers to B2B renovation solutions and industry partnership programs, all tailored to meet the unique needs of our clients. Since 2015, we have leveraged local expertise in residential real estate alongside proprietary technology to guide homeowners at every step. Learn more at www.offerpad.com.

#OPAD_IR

Forward-Looking Statements

Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Offerpad’s future financial or operating performance. For example, statements regarding Offerpad’s financial outlook, including homes sold, revenue and Adjusted EBITDA, for the first quarter of 2025, and expectations regarding market conditions, strategic imperatives and long-term sustainability and growth are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “pro forma,” “may,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that may impact such forward-looking statements include, but are not limited to, Offerpad’s ability to respond to general economic conditions; the health of the U.S. residential real estate industry; Offerpad’s ability to grow market share in its existing markets or any new markets it may enter; Offerpad’s ability to grow effectively; Offerpad’s ability to accurately value and manage real estate inventory, maintain an adequate and desirable supply of real estate inventory, and manage renovations; Offerpad’s ability to successfully launch new product and service offerings, and to manage, develop and refine its technology platform; Offerpad’s ability to maintain and enhance its products and brand, and to attract customers; Offerpad’s ability to achieve and maintain profitability in the future; and the success of strategic relationships with third parties; Offerpad’s ability to regain compliance with New York Stock Exchange (“NYSE”) Rule 802.01B, or failure to comply with other NYSE continued listing rules. These and other important factors discussed under the caption “Risk Factors” in Offerpad’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission on February 25, 2025, and Offerpad’s other reports filed with the Securities and Exchange Commission could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Offerpad and its management, are inherently uncertain. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Offerpad undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

 

OFFERPAD SOLUTIONS INC.

Condensed Consolidated Statements of Operations

 

 

 

Three Months Ended

 

 

 

June 30,

 

(in thousands, except per share data) (Unaudited)

 

2025

 

 

2024

 

Revenue

 

$

160,315

 

 

$

251,122

 

Cost of revenue

 

 

146,126

 

 

 

229,251

 

Gross profit

 

 

14,189

 

 

 

21,871

 

Operating expenses:

 

 

 

 

 

 

Sales, marketing and operating

 

 

13,188

 

 

 

20,230

 

General and administrative

 

 

7,796

 

 

 

10,538

 

Technology and development

 

 

986

 

 

 

964

 

Total operating expenses

 

 

21,970

 

 

 

31,732

 

Loss from operations

 

 

(7,781

)

 

 

(9,861

)

Other income (expense):

 

 

 

 

 

 

Change in fair value of warrant liabilities

 

 

329

 

 

 

(9)

 

Interest expense

 

 

(3,665

)

 

 

(4,581

)

Other income, net

 

 

244

 

 

 

615

 

Total other expense

 

 

(3,092

)

 

 

(3,975

)

Loss before income taxes

 

 

(10,873

)

 

 

(13,836

)

Income tax (expense) benefit

 

 

(30

)

 

 

54

 

Net loss

 

$

(10,903

)

 

$

(13,782

)

Net loss per share, basic

 

$

(0.39

)

 

$

(0.50

)

Net loss per share, diluted

 

$

(0.39

)

 

$

(0.50

)

Weighted average common shares outstanding, basic

 

 

27,770

 

 

 

27,385

 

Weighted average common shares outstanding, diluted

 

 

27,770

 

 

 

27,385

 

OFFERPAD SOLUTIONS INC.

Condensed Consolidated Balance Sheets

 

 

 

June 30,

 

December 31,

(in thousands, except par value per share) (Unaudited)

 

2025

 

2024

ASSETS

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

22,650

 

 

$

43,018

 

Restricted cash

 

 

4,096

 

 

 

30,608

 

Accounts receivable

 

 

7,543

 

 

 

3,848

 

Real estate inventory

 

 

212,737

 

 

 

214,174

 

Prepaid expenses and other current assets

 

 

2,571

 

 

 

2,564

 

Total current assets

 

 

249,597

 

 

 

294,212

 

Property and equipment, net

 

 

9,672

 

 

 

9,127

 

Other non-current assets

 

 

8,717

 

 

 

9,714

 

TOTAL ASSETS

 

$

267,986

 

 

$

313,053

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

 

$

1,297

 

 

$

1,922

 

Accrued and other current liabilities

 

 

12,422

 

 

 

11,804

 

Secured credit facilities and other debt, net

 

 

177,322

 

 

 

195,378

 

Secured credit facilities and other debt – related party

 

 

38,577

 

 

 

41,861

 

Total current liabilities

 

 

229,618

 

 

 

250,965

 

Warrant liabilities

 

 

159

 

 

 

231

 

Other long-term liabilities

 

 

13,674

 

 

 

14,204

 

Total liabilities

 

 

243,451

 

 

 

265,400

 

Commitments and contingencies

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

 

Class A common stock, $0.0001 par value; 2,000,000 shares authorized; 27,710 and 27,379 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively

 

 

3

 

 

 

3

 

Additional paid in capital

 

 

510,538

 

 

 

507,696

 

Accumulated deficit

 

 

(486,006

)

 

 

(460,046

)

Total stockholders’ equity

 

 

24,535

 

 

 

47,653

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

 

$

267,986

 

 

$

313,053

 

 

OFFERPAD SOLUTIONS INC.

Condensed Consolidated Statements of Cash Flows

 

 

 

Six Months Ended

 

 

 

June 30,

 

($ in thousands) (Unaudited)

 

2025

 

 

2024

 

Cash flows from operating activities:

 

 

 

 

 

 

Net loss

 

$

(25,960

)

 

$

(31,297

)

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

 

 

 

 

 

 

Depreciation

 

 

459

 

 

 

314

 

Amortization of debt financing costs

 

 

618

 

 

 

1,153

 

Real estate inventory valuation adjustment

 

 

2,795

 

 

 

1,168

 

Stock-based compensation

 

 

3,039

 

 

 

7,116

 

Change in fair value of warrant liabilities

 

 

(72)

 

 

 

(335

)

Loss on disposal of property and equipment

 

 

75

 

 

 

29

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

Accounts receivable

 

 

(3,695

)

 

 

3,190

 

Real estate inventory

 

 

(1,358

)

 

 

(32,418

)

Prepaid expenses and other assets

 

 

990

 

 

 

2,091

 

Accounts payable

 

 

(625

)

 

 

(2,108

)

Accrued and other liabilities

 

 

88

 

 

 

(902

)

Net cash used in by operating activities

 

 

(23,646

)

 

 

(51,999

)

Cash flows from investing activities:

 

 

 

 

 

 

Purchases of property and equipment

 

 

(1,079

)

 

 

(362

)

Proceeds from sale of property and equipment

 

 

 

 

 

44

 

Net cash used in investing activities

 

 

(1,079

)

 

 

(318

)

Cash flows from financing activities:

 

 

 

 

 

 

Borrowings from credit facilities and other debt

 

 

310,946

 

 

 

495,955

 

Repayments of credit facilities and other debt

 

 

(332,904

)

 

 

(450,546

)

Proceeds from exercise of stock options

 

 

 

 

 

16

 

Payments for taxes related to stock-based awards

 

 

(197

)

 

 

(44

)

Net cash (used in) provided by financing activities

 

 

(22,155

)

 

 

45,381

 

Net change in cash, cash equivalents and restricted cash

 

 

(46,880

)

 

 

(6,936

)

Cash, cash equivalents and restricted cash, beginning of period

 

 

73,626

 

 

 

79,934

 

Cash, cash equivalents and restricted cash, end of period

 

$

26,746

 

 

$

72,998

 

Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheet:

 

 

 

 

 

 

Cash and cash equivalents

 

$

22,650

 

 

$

55,906

 

Restricted cash

 

 

4,096

 

 

 

16,092

 

Total cash, cash equivalents and restricted cash

 

$

26,746

 

 

$

72,998

 

Supplemental disclosure of cash flow information:

 

 

 

 

 

 

Cash payments for interest

 

$

9,091

 

 

$

12,624

 

 

Non-GAAP Financial Measures

In addition to Offerpad’s results of operations above, Offerpad reports certain financial measures that are not required by, or presented in accordance with, U.S. generally accepted accounting principles (“GAAP”). These measures have limitations as analytical tools when assessing Offerpad’s operating performance and should not be considered in isolation or as a substitute for GAAP measures, including gross profit and net income.

Offerpad may calculate or present its non-GAAP financial measures differently than other companies who report measures with similar titles and, as a result, the non-GAAP financial measures Offerpad reports may not be comparable with those of companies in Offerpad’s industry or in other industries. Offerpad has not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted net income (loss) within this press release because Offerpad is unable to calculate certain reconciling items without making unreasonable efforts. These items, which include, but are not limited to, stock-based compensation with respect to future grants and forfeitures, could materially affect the computation of forward-looking net income (loss), are inherently uncertain and depend on various factors, some of which are outside of Offerpad’s control.

Adjusted Gross Profit, Contribution Profit, and Contribution Profit After Interest (and related margins)

To provide investors with additional information regarding Offerpad’s margins, Offerpad has included Adjusted Gross Profit, Contribution Profit, and Contribution Profit After Interest (and related margins), which are non-GAAP financial measures. Offerpad believes that Adjusted Gross Profit, Contribution Profit, and Contribution Profit After Interest are useful financial measures for investors as they are used by management in evaluating unit level economics and operating performance across Offerpad’s markets. Each of these measures is intended to present the economics related to homes sold during a given period. Offerpad does so by including revenue generated from homes sold (and ancillary services) in the period and only the expenses that are directly attributable to such home sales, even if such expenses were recognized in prior periods, and excluding expenses related to homes that remain in real estate inventory as of the end of the period presented. Contribution Profit provides investors a measure to assess Offerpad’s ability to generate returns on homes sold during a reporting period after considering home acquisition costs, renovation and repair costs, and adjusting for holding costs and selling costs. Contribution Profit After Interest further impacts gross profit by including interest costs (including senior and mezzanine secured credit facilities) attributable to homes sold during a reporting period. Offerpad believes these measures facilitate meaningful period over period comparisons and illustrate Offerpad’s ability to generate returns on assets sold after considering the costs directly related to the assets sold in a presented period.

Adjusted Gross Profit, Contribution Profit and Contribution Profit After Interest (and related margins) are supplemental measures of Offerpad’s operating performance and have limitations as analytical tools. For example, these measures include costs that were recorded in prior periods under GAAP and exclude, in connection with homes held in real estate inventory at the end of the period, costs required to be recorded under GAAP in the same period.

Accordingly, these measures should not be considered in isolation or as a substitute for analysis of Offerpad’s results as reported under GAAP. Offerpad includes a reconciliation of these measures to the most directly comparable GAAP financial measure, which is gross profit.

Adjusted Gross Profit / Margin

Offerpad calculates Adjusted Gross Profit as gross profit under GAAP adjusted for (1) net real estate inventory valuation adjustment plus (2) interest expense associated with homes sold in the presented period and recorded in cost of revenue. Net real estate inventory valuation adjustment is calculated by adding back the real estate inventory valuation adjustment charges recorded during the period on homes that remain in real estate inventory at period end and subtracting the real estate inventory valuation adjustment charges recorded in prior periods on homes sold in the current period. Offerpad defines Adjusted Gross Margin as Adjusted Gross Profit as a percentage of revenue.

Offerpad views this metric as an important measure of business performance, as it captures gross margin performance isolated to homes sold in a given period and provides comparability across reporting periods. Adjusted Gross Profit helps management assess performance across the key phases of processing a home (acquisitions, renovations, and resale) for a specific resale cohort.

Contribution Profit / Margin

Offerpad calculates Contribution Profit as Adjusted Gross Profit, minus (1) direct selling costs incurred on homes sold during the presented period, minus (2) holding costs incurred in the current period on homes sold during the period recorded in sales, marketing, and operating, minus (3) holding costs incurred in prior periods on homes sold in the current period recorded in sales, marketing, and operating, plus (4) other income, net which is primarily comprised of interest income earned on our cash and cash equivalents and fair value adjustments of derivative financial instruments. The composition of Offerpad’s holding costs is described in the footnotes to the reconciliation table below. Offerpad defines Contribution Margin as Contribution Profit as a percentage of revenue.

Offerpad views this metric as an important measure of business performance as it captures the unit level performance isolated to homes sold in a given period and provides comparability across reporting periods. Contribution Profit helps management assess inflows and outflow directly associated with a specific resale cohort.

Contribution Profit / Margin After Interest

Offerpad defines Contribution Profit After Interest as Contribution Profit, minus (1) interest expense associated with homes sold in the presented period and recorded in cost of revenue, minus (2) interest expense associated with homes sold in the presented period, recorded in costs of sales, and previously excluded from Adjusted Gross Profit, and minus (3) interest expense under Offerpad’s senior and mezzanine secured credit facilities and other senior secured debt incurred on homes sold during the period. This includes interest expense recorded in prior periods in which the sale occurred. Offerpad’s senior and mezzanine secured credit facilities and other senior secured debt are secured by their homes in real estate inventory and drawdowns are made on a per-home basis at the time of purchase and are required to be repaid at the time the homes are sold. Offerpad defines Contribution Margin After Interest as Contribution Profit After Interest as a percentage of revenue.

Offerpad views this metric as an important measure of business performance. Contribution Profit After Interest helps management assess Contribution Margin performance, per above, when fully burdened with costs of financing.

The following table presents a reconciliation of Offerpad’s Adjusted Gross (Loss) Profit, Contribution (Loss) Profit and Contribution (Loss) Profit After Interest to Offerpad’s Gross (Loss) Profit, which is the most directly comparable GAAP measure, and Contribution (Loss) Profit Per Home Sold and Contribution (Loss) Profit After Interest Per Home Sold to Offerpad’s Gross (Loss) Profit Per Home Sold, which is the most directly comparable GAAP measure, for the periods indicated:

 

 

Three Months Ended

(in thousands, except percentages and homes sold, unaudited)

June 30, 2025

Mar 31, 2025

June 30, 2024

Gross profit (GAAP)

$14,189

 

 

$10,507

 

 

21,871

 

Gross margin

8.9

%

6.5

%

8.7

%

Homes sold

452

 

 

460

 

 

742

 

Gross profit per home sold

$31.4

 

$22.8

 

$29.5

 

Adjustments:

 

 

Real estate inventory valuation adjustment – current period (1)

1,052

 

1,743

 

544

 

Real estate inventory valuation adjustment – prior period (2)

(1,556

)

 

(2,211

)

 

(540

)

Interest expense capitalized (3)

1,240

 

1,422

 

1,420

 

Adjusted gross profit

$14,925

 

 

$11,461

 

 

$23,295

 

Adjusted gross margin

9.3

%

7.1

%

9.3

%

Adjustments:

 

 

Direct selling costs (4)

(4,230

)

(4,388

)

(6,461

)

Holding costs on sales – current period (5)(6)

(361

)

 

(535

)

 

(622

)

Holding costs on sales – prior period (5)(7)

(507

)

(690

)

(443

)

Other income, net (8)

244

 

 

296

 

 

615

 

Contribution profit

$10,071

 

$6,144

 

$16,384

 

Contribution margin

6.3

%

 

3.8

%

 

6.5

%

Homes sold

452

 

460

 

742

 

Contribution profit per home sold

$22.3

 

 

$13.4

 

 

$22.1

 

Adjustments:

Interest expense capitalized (3)

(1,240

)

 

(1,422

)

 

(1,420

)

Interest expense on homes sold – current period (9)

(1,342

)

(1,617

)

(2,103

)

Interest expense on homes sold – prior period (10)

(1,866

)

 

(2,883

)

 

(2,133

)

Contribution profit after interest

$5,623

 

$222

 

$10,728

 

Contribution margin after interest

3.5

%

 

0.1

%

 

4.3

%

Homes sold

452

 

460

 

742

 

Contribution profit after interest per home sold

$12.4

 

 

$0.5

 

 

$14.5

 

(1)

Real estate inventory valuation adjustment – current period is the real estate inventory valuation adjustments recorded during the period presented associated with homes that remain in real estate inventory at period end.

(2)

Real estate inventory valuation adjustment – prior period is the real estate inventory valuation adjustments recorded in prior periods associated with homes that sold in the period presented.

(3)

Interest expense capitalized represents all interest related costs, including senior and mezzanine secured credit facilities, incurred on homes sold in the period presented that were capitalized and expensed in cost of sales at the time of sale.

(4)

Direct selling costs represents selling costs incurred related to homes sold in the period presented. This primarily includes broker commissions and title and escrow closing fees.

(5)

Holding costs primarily include insurance, utilities, homeowners association dues, property taxes, cleaning, and maintenance costs.

(6)

Represents holding costs incurred on homes sold in the period presented and expensed to Sales, marketing, and operating on the Condensed Consolidated Statements of Operations.

(7)

Represents holding costs incurred in prior periods on homes sold in the period presented and expensed to Sales, marketing, and operating on the Condensed Consolidated Statements of Operations.

(8)

Other income, net principally represens interest income earned on our cash and cash equivalents and fair value adjustments of derivative financial instruments.

(9)

Represents both senior and mezzanine interest expense incurred on homes sold in the period presented and expensed to interest expense on the Condensed Consolidated Statements of Operations.

(10)

Represents both senior and mezzanine secured credit facilities interest expense incurred in prior periods on homes sold in the period presented and expensed to interest expense on the Condensed Consolidated Statements of Operations.

 

Adjusted Net Income (Loss) and Adjusted EBITDA

Offerpad also presents Adjusted Net Income (Loss) and Adjusted EBITDA, which are non-GAAP financial measures, which the management team uses to assess Offerpad’s underlying financial performance. Offerpad believes these measures provide insight into period over period performance, adjusted for non-recurring or non-cash items.

Offerpad calculates Adjusted Net Income (Loss) as GAAP Net Income (Loss) adjusted for the change in fair value of warrant liabilities. Offerpad defines Adjusted Net Income (Loss) Margin as Adjusted Net Income (Loss) as a percentage of revenue.

Offerpad calculates Adjusted EBITDA as Adjusted Net Income (Loss) adjusted for interest expense, amortization of capitalized interest, taxes, depreciation and amortization and stock-based compensation expense. Offerpad defines Adjusted EBITDA Margin as Adjusted EBITDA as a percentage of revenue.

Adjusted Net Income (Loss) and Adjusted EBITDA are supplemental to Offerpad’s operating performance measures calculated in accordance with GAAP and have important limitations. For example, Adjusted Net Income (Loss) and Adjusted EBITDA exclude the impact of certain costs required to be recorded under GAAP and could differ substantially from similarly titled measures presented by other companies in Offerpad’s industry or companies in other industries. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of Offerpad’s results as reported under GAAP.

The following table presents a reconciliation of Offerpad’s Adjusted Net Income (Loss) and Adjusted EBITDA to their GAAP Net Income (Loss), which is the most directly comparable GAAP measure, for the periods indicated:

Three Months Ended

(in thousands, except percentages, unaudited)

June 30, 2025

March 31, 2025

June 30, 2024

Net loss (GAAP)

$

(10,903)

 

$

(15,057)

 

$

(13,782)

Net loss margin

 

(6.8%)

 

(9.4%)

 

(5.5%)

Change in fair value of warrant liabilities

 

(329)

 

 

257

 

 

9

Adjusted net loss

$

(11,232)

$

(14,800)

$

(13,773)

Adjusted net loss margin

 

(7.0%)

 

 

(9.2%)

 

 

(5.5%)

Adjustments:

Interest expense

 

3,665

 

 

3,522

 

 

4,581

Amortization of capitalized interest (1)

 

1,240

 

1,422

 

1,420

Income tax expense (benefit)

 

30

 

 

37

 

 

(54)

Depreciation and amortization

 

253

 

206

 

148

Amortization of stock-based compensation

 

1,257

 

 

1,782

 

 

3,249

Adjusted EBITDA

$

(4,787)

$

(7,831)

$

(4,429)

Adjusted EBITDA margin

 

(3.0%)

 

 

(4.9%)

 

 

(1.8%)

(1)

Amortization of capitalized interest represents all interest related costs, including senior and mezzanine secured interest related costs, incurred on homes sold in the period presented that were capitalized and expensed in cost of sales at the time of sale.

 

Investors:

[email protected]

Media:

Cortney Read

Chief of Staff & VP, Operations

[email protected]

KEYWORDS: United States North America Arizona

INDUSTRY KEYWORDS: Software Technology Residential Building & Real Estate Construction & Property

MEDIA:

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Praxis Precision Medicines to Participate in Upcoming Fireside Chat

BOSTON, Aug. 04, 2025 (GLOBE NEWSWIRE) — Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system (CNS) disorders characterized by neuronal excitation-inhibition imbalance, today announced that CEO Marcio Souza will be participating a virtual fireside chat hosted by Truist Securities analyst Joon Lee on August 5, 2025 at 10:00amEST.

The registration link can be found here.

About Praxis  
Praxis Precision Medicines is a clinical-stage biopharmaceutical company translating insights from genetic epilepsies into the development of therapies for CNS disorders characterized by neuronal excitation-inhibition imbalance. Praxis is applying genetic insights to the discovery and development of therapies for rare and more prevalent neurological disorders through our proprietary small molecule platform, Cerebrum™, and antisense oligonucleotide (ASO) platform, Solidus™, using our understanding of shared biological targets and circuits in the brain. Praxis has established a diversified, multimodal CNS portfolio including multiple programs across epilepsy and movement disorders, with four clinical-stage product candidates. For more information, please visit www.praxismedicines.com and follow us on FacebookInstagramLinkedIn and Twitter/X.



Investor Contact: 
Praxis Precision Medicines 
[email protected] 
857-702-9452 

Media Contact:
Dan Ferry
Life Science Advisors
[email protected]
617-430-7576

Venture Global Calcasieu Pass Receives Uprate Approval from U.S. Department of Energy

Venture Global Calcasieu Pass Receives Uprate Approval from U.S. Department of Energy

ARLINGTON, Va.–(BUSINESS WIRE)–
Today, Venture Global, Inc. (NYSE: VG) received approval from the U.S. Department of Energy (DOE) for an uprate amendment to its Calcasieu Pass LNG project. The uprate approval increases Calcasieu Pass’ permitted peak liquefaction capacity from 12.0 million tonnes per annum (MTPA) to 12.4 MTPA.

“Venture Global thanks its regulators, including DOE, for their efforts in prioritizing and streamlining approvals for critical energy infrastructure projects. These multibillion dollar investments will be key as the United States strengthens global energy security and increases energy trade with our partners around the world,” said Venture Global CEO Mike Sabel.

Calcasieu Pass, Venture Global’s first project, reached first LNG production in 2022 and began commercial operations in April 2025. The company’s second facility, Plaquemines LNG, began LNG production in December 2024. Venture Global’s third project, CP2, received DOE export authorization and FERC approval in March 2025 and May 2025, respectively, signed long-term sales and purchase agreements for all of Phase One, and commenced site work on the project.

About Venture Global

Venture Global is an American producer and exporter of low-cost U.S. liquefied natural gas (LNG) with over 100 MTPA of capacity in production, construction, or development. Venture Global began producing LNG from its first facility in 2022 and is now one of the largest LNG exporters in the United States. The company’s vertically integrated business includes assets across the LNG supply chain including LNG production, natural gas transport, shipping and regasification. The company’s first three projects, Calcasieu Pass, Plaquemines LNG, and CP2 LNG, are located in Louisiana along the Gulf of America. Venture Global is developing Carbon Capture and Sequestration projects at each of its LNG facilities.

Forward-looking Statements

This press release contains certain statements that may include “forward-looking statements.” All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, statements regarding Venture Global’s business strategy, plans and objectives, including the use of proceeds from the offering. Venture Global believes that the expectations reflected in these “forward-looking statements” are reasonable, they are inherently uncertain and involve a number of risks and uncertainties beyond Venture Global’s control. In addition, assumptions may prove to be inaccurate. Actual results may differ materially from those anticipated or implied in “forward-looking statements” as a result of a variety of factors. These “forward-looking statements” speak only as of the date made, and other than as required by law, Venture Global undertakes no obligation to update or revise any “forward-looking statement” or provide reasons why actual results may differ, whether as a result of new information, future events or otherwise.

Investors:

Ben Nolan

[email protected]

Media:

Shaylyn Hynes

[email protected]

KEYWORDS: United States North America Virginia

INDUSTRY KEYWORDS: Oil/Gas Energy

MEDIA:

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FTI Consulting Expands Forensic and Litigation Consulting Segment in Asia with Appointment of Martin Tupila as Senior Managing Director

SINGAPORE, Aug. 04, 2025 (GLOBE NEWSWIRE) — FTI Consulting, Inc. (NYSE: FCN) today announced the continued growth of its Forensic and Litigation Consulting segment in Asia with the appointment of Martin Tupila as a Senior Managing Director, based in Singapore.

Mr. Tupila brings more than 20 years of experience in forensic accounting, financial investigations, regulatory enforcement and compliance advisory across Asia, Europe and Australia. He has supported multinational organisations, law firms and regulatory bodies on high-profile matters involving fraud, corruption, accounting irregularities and financial misstatement.

In his role at FTI Consulting, Mr. Tupila will work closely with clients to address allegations involving accounting improprieties, conflicts of interest, misappropriation of assets and circumvention of regulations. He will collaborate with FTI Consulting’s Asia-based team of forensic accountants, financial experts, data analysts, technologists, statisticians, economists and business intelligence professionals to analyse complex data and apply proven investigative and forensic accounting methods to support legal teams and act as an independent investigator and expert.

“Martin’s appointment reinforces our commitment to growing our forensic capabilities in Asia and further deepens our regional bench strength,” said Michael Cullen, a Senior Managing Director and Leader of Asia and Latin America for the Forensic and Litigation Consulting segment. “His proven track record advising clients on sensitive and high-stakes matters makes him a valuable addition to our team. I look forward to working alongside Martin as we continue to help clients protect enterprise value and respond confidently to regulatory and legal challenges.”

Prior to joining FTI Consulting, Mr. Tupila led the ASEAN claims and disputes practice at a global accounting firm and headed the greater China forensic practice at a leading advisory firm. His extensive regional experience and cross-sector expertise strengthen FTI Consulting’s ability to support clients navigating complex disputes and investigations across Asia.

The addition of Mr. Tupila continues FTI Consulting’s investment in the Forensic and Litigation Consulting segment, following the recent appointments of Senior Managing Directors Rosie Hawes and Andrew Macintosh in Singapore, enhancing the firm’s ability to deliver multidisciplinary expertise in forensic accounting, investigations, data analytics and regulatory compliance.

About FTI Consulting

FTI Consulting, Inc. is a leading global expert firm for organizations facing crisis and transformation, with more than 7,900 employees located in 32 countries and territories as of June 30, 2025. In certain jurisdictions, FTI Consulting’s services are provided through distinct legal entities that are separately capitalized and independently managed. The Company generated $3.70 billion in revenues during fiscal year 2024. More information can be found at https://www.fticonsulting.com.

FTI Consulting, Inc.

555 12th Street NW
Washington, DC 20004
+1.202.312.9100

Investor Contact:

Mollie Hawkes
+1.617.747.1791
[email protected]

Media Contact:

Andrew Gerrard
+852 376 84562
[email protected]



HCM III Acquisition Corp Announces Closing of $253,000,000 Initial Public Offering

STAMFORD, Ct, Aug. 04, 2025 (GLOBE NEWSWIRE) — HCM III Acquisition Corp (Nasdaq: HCMAU) (the “Company”), a blank check company whose business purpose is to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, announced today the closing of its previously announced initial public offering of 25,300,000 units, including 3,300,000 units issued pursuant to the full exercise by the underwriter of its over-allotment option. The units were sold at a price of $10.00 per unit. The Company’s units began trading on August 1, 2025 on the Nasdaq Global Market under the symbol “HCMAU”. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant is exercisable to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Only whole warrants are exercisable and will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the Nasdaq Global Market under the ticker symbols “HCMA” and “HCMAW,” respectively.

The Company intends to focus on identifying businesses which provide disruptive technology or innovations within the financial services industry. The Company’s efforts will be focused on acquiring established businesses that it believes are fundamentally sound, but in need of assistance to maximize their potential value. The Company is led by Shawn Matthews, Chairman and Chief Executive Officer; and Steven Bischoff, President and Chief Financial Officer.

Cantor Fitzgerald & Co. acted as sole bookrunner for the offering.

A registration statement relating to the securities was filed with, and declared effective by, the Securities and Exchange Commission (“SEC”) on July 31, 2025. The public offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from: Cantor Fitzgerald & Co., Attention Capital Markets, 499 Park Avenue, New York, NY 10022, or by e-mail at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About HCM III Acquisition Corp

HCM III Acquisition Corp is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on identifying businesses which provide disruptive technology or innovations within the financial services industry. The Company’s efforts will be focused on acquiring established businesses that it believes are fundamentally sound, but in need of assistance to maximize their potential value.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement filed with the SEC and the preliminary prospectus included therein. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contact:

Steven Bischoff
[email protected]



KKR Prices $900,000,000 of 5.100% Senior Notes due 2035

KKR Prices $900,000,000 of 5.100% Senior Notes due 2035

NEW YORK–(BUSINESS WIRE)–
KKR & Co. Inc. (“KKR”) (NYSE: KKR) today announced that it has priced its previously announced offering of $900,000,000 aggregate principal amount of its 5.100% Senior Notes due 2035 (the “notes”). The notes will be senior obligations of KKR and will be fully and unconditionally guaranteed by KKR Group Partnership L.P.

The offering is expected to close on August 7, 2025, subject to customary closing conditions.

KKR intends to use the net proceeds from the sale of the notes for repurchase and refinancing of existing indebtedness of its subsidiary, KKR Financial Holdings LLC, and the remaining amount, if any, for general corporate purposes.

Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., KKR Capital Markets LLC and UBS Investment Bank are acting as joint book-running managers for the offering.

The offering is being made pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission (the “SEC”). The offering is being made by means of a prospectus and related preliminary prospectus supplement only. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is available on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting the joint book-running managers: Morgan Stanley & Co. LLC toll-free at 1-866-718-1649 or emailing [email protected]; Goldman Sachs & Co. LLC toll-free at 1-866-471-2526 or emailing [email protected]; HSBC Securities (USA) Inc. toll-free at 1-866-811-8049; KKR Capital Markets LLC toll-free at 1-212-230-9433; or UBS Investment Bank toll-free at 1-833-481-0269.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the notes or any other securities, and shall not constitute an offer, solicitation or sale of the notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, pertaining to KKR. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. These forward-looking statements can be identified by the use of words such as “outlook,” “believe,” “think,” “expect,” “potential,” “continue,” “may,” “should,” “seek,” “approximately,” “predict,” “intend,” “will,” “plan,” “estimate,” “anticipate,” “visibility,” “positioned,” “path to,” “conviction,” the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. These forward-looking statements are based on KKR’s beliefs, assumptions and expectations, but these beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or within its control. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. We believe these factors include those in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should be read in conjunction with the other cautionary statements that are included in our periodic filings. Past performance is no guarantee of future results. All forward-looking statements speak only as of the date of this press release. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of this press release except as required by law.

Investor Relations:

Craig Larson

Tel: +1 (877) 610-4910 (U.S.) / +1 (212) 230-9410

[email protected]

Media:

KKR Communications

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Finance Banking Professional Services Other Professional Services Asset Management

MEDIA:

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Hormel Foods Corporation to Hold Third Quarter Earnings Conference Call

PR Newswire

AUSTIN, Minn., Aug. 4, 2025 /PRNewswire/ — Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, invites interested parties to participate in a webcast and conference call with Jeff Ettinger, interim chief executive officer; John Ghingo, president; and Jacinth Smiley, executive vice president and chief financial officer; to discuss the Company’s third quarter financial results. The Company will issue its earnings release before the markets open on Thursday, August 28, 2025, and will host a conference call at 8 a.m. CT (9 a.m. ET).

The webcast, replay and other information related to the event can be accessed on the Company’s investor website, http://investor.hormelfoods.com.

ABOUT HORMEL FOODS — Inspired People. Inspired Food.™
Hormel Foods Corporation (NYSE: HRL), based in Austin, Minnesota, is a global branded food company with approximately $12 billion in annual revenue across more than 80 countries worldwide. Its brands include PLANTERS®, SKIPPY®, SPAM®, HORMEL® NATURALCHOICE®, APPLEGATE®, JUSTIN’S®, WHOLLY®, HORMEL® BLACKLABEL®, COLUMBUS®, JENNIE-O® and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report, one of America’s most responsible companies by Newsweek, recognized by TIME magazine as one of the World’s Best Companies and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food. — to bring some of the world’s most trusted and iconic brands to tables across the globe. For more information, visit hormelfoods.com.

Investor Relations         

Media Relations


[email protected]                  


[email protected]

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SOURCE Hormel Foods Corporation

Flex Delivers Advanced Power Management for Next-Generation NVIDIA AI Infrastructure

PR Newswire

News summary

  • At OCP APAC, Flex introduces new power shelf for the NVIDIA GB300 NVL72 platform that features 72 NVIDIA Blackwell Ultra GPUs
  • In collaboration with NVIDIA, Flex is paving the way for 800 VDC data center power infrastructure to enable megawatt-scale racks
  • Flex’s comprehensive portfolio of advanced manufacturing, power and cooling products, and services is accelerating data center deployment worldwide


TAIPEI CITY, Taiwan
, Aug. 4, 2025 /PRNewswire/ — OCP APAC — Flex (NASDAQ: FLEX) today announced a new power shelf system to fast-track 800 VDC power architectures and support the growing demands of AI infrastructure and AI factories. The Flex power shelf system provides industry-leading efficiency for NVIDIA GB300 NVL72 systems while preparing for the transition to 800 VDC data center power infrastructure to support the deployment of 1 megawatt IT racks.

“As AI workloads push rack power systems to new levels, Flex is at the forefront of enabling data center operators to overcome increasing power, heat, and scale challenges,” said Chris Butler, president, Critical and Embedded Power at Flex. “Our collaboration with NVIDIA enables hyperscale and colocation customers to deploy next-generation AI infrastructure with greater speed and efficiency as they scale toward 1 MW racks and 800 VDC data center power infrastructure.”

Power shelf system for NVIDIA GB300 NVL72: industry-leading efficiency for AI-driven infrastructure
Introduced at OCP APAC, the Flex power shelf system is a high-density DC power distribution solution delivering up to 33 kW per shelf in a compact, industry-standard footprint. Featuring six power supply units in a 3+3 redundant configuration and an advanced power shelf controller, it achieves peak efficiency of 97.5 percent at half-load. This reduces power conversion losses by more than 60 percent compared to conventional systems, lowering heat output, cooling demands, and energy costs. Fully compatible with the NVIDIA GB300 NVL72 platform that features 72 NVIDIA Blackwell Ultra GPUs, the system supports high-performance GPU- and CPU-based workloads for AI factories.

Preparing the industry for 800 VDC data center power infrastructure
Flex’s new power shelf delivers high-efficiency power tailored for the NVIDIA GB300 NVL72 rack-scale platform – providing a robust foundation today while paving the way for 800 VDC data center power infrastructure. Flex plans full-scale production of 800 VDC power components to coincide with the release of NVIDIA Kyber rack-scale systems, ensuring seamless scalability for increasingly demanding AI models.

Scalable data center manufacturing capabilities, products, and services
The power shelf system for the NVIDIA GB300 NVL72 joins Flex’s robust portfolio of grid-to-chip power products. Flex provides advanced manufacturing capabilities, innovative power and cooling products, and end-to-end lifecycle services that solve data center power, heat, and scale challenges in the AI era. Accelerate data center deployment worldwide with Flex.

About Flex

Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.

Flex Contacts

Media & Press

Christie Haber

Director, Commercial Marketing
(602) 245-1057
[email protected]

Investors & Analysts

Michelle Simmons

Senior Vice President, Global Investor Relations and Public Relations
(669) 242-6332
[email protected]

 

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SOURCE Flex

Chubb Limited Announces Pricing of $1.25 Billion Senior Notes Offering by Subsidiary

PR Newswire


ZURICH
, Aug. 4, 2025 /PRNewswire/ — Chubb Limited (NYSE: CB) announced today that its subsidiary, Chubb INA Holdings LLC, has priced a public offering of $1.25 billion of 4.90% senior notes due 2035 (the “Notes”). The Notes are guaranteed by Chubb Limited. 

Chubb intends to use the net proceeds for general corporate purposes, including the repayment of a portion of the $1.5 billion of its outstanding 3.35% senior notes due May 3, 2026. 

The joint book-running managers for the offering are Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC.  

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any of the senior notes or any other securities, nor will there be any offer, solicitation or sale of the senior notes or any other securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained by calling Citigroup Global Markets Inc. at 1-800-831-9146, Goldman Sachs & Co. LLC at 1-866-471-2526 or Wells Fargo Securities, LLC at 1-800-645-3751.

Alternatively, the prospectus supplement and accompanying prospectus may be obtained by visiting EDGAR on the U.S. Securities and Exchange Commission (SEC) website at www.sec.gov.

About Chubb
Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients.  The company is defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb employs approximately 43,000 people worldwide.  Additional information can be found at: www.chubb.com.



Cautionary Statement Regarding Forward-Looking Statements



:

Forward-looking statements made in this press release, such as statements regarding use of proceeds, reflect the company’s current views with respect to future events and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially from these statements.  Additional information regarding factors that could cause differences from these forward-looking statements appears in the company’s filings with the SEC.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.

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SOURCE Chubb Limited