Market Newsdesk

Guangzhou, China, Dec. 23, 2024 (GLOBE NEWSWIRE) — Youxin Technology Ltd (Nasdaq: YAAS) (the “Company” or “Youxin Technology”), a software as a service (“SaaS”) and platform as a service (“PaaS”) provider committed to helping retail enterprises digitally transform their businesses, today announced the closing of its initial public offering (the “Offering”) of 2,300,000 Class A ordinary shares at a public offering price of US$4.50 per Class A ordinary share. The Class A ordinary shares began trading on The Nasdaq Capital Market on December 20, 2024 under the ticker symbol “YAAS.”

The Company received aggregate gross proceeds of US$10.35 million from the Offering, before deducting underwriting discounts and other related expenses payable by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to 345,000 additional Class A ordinary shares at the public offering price, less underwriting discounts.

Net proceeds from the Offering will be used for (i) research and development, including development of the Company’s SaaS standard product and further investment in the Company’s cloud services, (ii) investment in the Company’s sales and marketing, including expanding distribution channels for existing and future market, and (iii) general corporate purposes, which may include capital expenditures, potential strategic investments and acquisitions.

Aegis Capital Corp. acted as the sole book-running manager for the Offering. Kaufman & Canoles P.C. acted as the U.S. counsel to the Company, and Olshan Frome Wolosky LLP acted as the U.S. counsel to Aegis Capital Corp.

A registration statement on Form F-1 (File No. 333-274404) relating to the Offering was filed with the U.S. Securities and Exchange Commission (“SEC”) and was declared effective by the SEC on December 19, 2024. A final prospectus describing the terms of the proposed offering was filed with the SEC and is available on the SEC’s website at www.sec.gov. The Offering was made only by means of a prospectus, forming a part of the registration statement. Electronic copies of the final prospectus may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th Floor, New York, New York 10105, by email at [email protected], or by telephone at +1 (212) 813-1010.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s 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 Youxin Technology Ltd

Youxin Technology Ltd is a SaaS and PaaS provider committed to helping retail enterprises digitally transform their businesses using its cloud-based SaaS product and PaaS platform to develop, use and control business applications without the need to purchase complex IT infrastructure. Youxin Technology provides a customized, comprehensive, fast-deployment omnichannel digital solutions that unify all aspects of commerce with store innovations, distributed inventory management, cross-channel data integration, and a rich set of ecommerce capabilities that encompass mobile applications, social media, and web-based applications. The Company’s products allow mid-tier brand retailers to use offline direct distribution to connect the management team, distributors, salespersons, stores, and end customers across systems, apps, and devices. This provides retailers with a comprehensive suite of tools to instantly address issues using real-time sales data. For more information, please visit the Company’s website: https://ir.youxin.cloud.

Cautionary Note Regarding Forward-Looking Statements

The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation the Company’s statements regarding the Company’s product development and business prospects and the use of proceeds from the sale of the Company’s shares in the Offering, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

For more information, please contact:

Youxin Technology Ltd.

Investor Relations Department
Email: [email protected]

Ascent Investor Relations LLC

Tina Xiao
Phone: +1-646-932-7242
Email: [email protected]

HOUSTON, Dec. 23, 2024 (GLOBE NEWSWIRE) — Talen Energy Corporation (“Talen”) (NASDAQ: TLN) released the following statement today in response to the Federal Energy Regulatory Commission (the “FERC” or “Commission”) order on Talen’s request for rehearing, which seeks reconsideration of the Commission’s November 1, 2024, order rejecting amendments to the Interconnection Service Agreement between PJM Interconnection, L.L.C., PPL Electric Utilities Corporation, and Talen subsidiary Susquehanna Nuclear, LLC (the “Susquehanna ISA”); the amendment would increase co-located load capacity at Talen’s Susquehanna nuclear power generation facility from 300 megawatts to 480 megawatts:

On November 20, 2024, Talen filed a motion for rehearing at FERC seeking reconsideration of the Commission’s November 1, 2024, order rejecting amendments to the Susquehanna ISA intended to memorialize certain operating parameters for co-located load at Susquehanna. Today, the Commission issued an order stating that it would address the request for rehearing in a future order. The Commission’s decision not to address the merits of the motion for rehearing within thirty days of filing makes the original November 1, 2024, order ripe for appeal to the appropriate United States Circuit Court of Appeals. Talen intends to pursue its appellate remedies. We continue to execute under the current ISA and work with AWS on alternative commercial solutions to expand beyond the approved 300-megawatt ISA.

About Talen

Talen Energy (NASDAQ: TLN) is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 10.7 gigawatts of power infrastructure in the United States, including 2.2 gigawatts of nuclear power and a significant dispatchable fossil fleet. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, with our generation fleet principally located in the Mid-Atlantic and Montana. Our team is committed to generating power safely and reliably, delivering the most value per megawatt produced and driving the energy transition. Talen is also powering the digital infrastructure revolution. We are well-positioned to capture this significant growth opportunity, as data centers serving artificial intelligence increasingly demand more reliable, clean power. Talen is headquartered in Houston, Texas. For more information, visit https://www.talenenergy.com/.

Investor Relations:

Ellen Liu
Senior Director, Investor Relations
[email protected]

Media:

Taryne Williams
Director, Corporate Communications
[email protected]

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, or incorporated by reference into this communication, are forward-looking statements. Throughout this communication, we have attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecasts,” “goal,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” or other forms of these words or similar words or expressions or the negative thereof, although not all forward-looking statements contain these terms. Forward-looking statements address future events and conditions concerning, among other things capital expenditures, earnings, litigation, regulatory matters, hedging, liquidity and capital resources and accounting matters. Forward-looking statements are subject to substantial risks and uncertainties that could cause our future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this communication. All of our forward-looking statements include assumptions underlying or relating to such statements that may cause actual results to differ materially from expectations, and are subject to numerous factors that present considerable risks and uncertainties.

TOKYO, Dec. 23, 2024 (GLOBE NEWSWIRE) — MEDIROM Healthcare Technologies Inc. (NasdaqCM: MRM), a holistic healthcare company based in Japan (the “Company”), today announced its major Key Performance Indicators, or KPIs, updated for the month of November 2024. Data is provided for all salons for which comparable financial and customer data is available and excludes certain salons where such information is not available.

Salon Operation Business

The following monthly KPIs provide insight into the business fundamentals and progress of the Company, updated for the month of November 2024:

• Total customers served increased to 75,760 in November 2024 from 75,290 in the year-ago period.
• Sales per customer increased to JPY 7,055 in November 2024 from JPY 7,045 in the year-ago period.
• Repeat ratio, which indicates the percentage of repeat customers, was 77.5% in 2024, the same as 77.5% in the year-ago period.
• Operation ratio was 44.6% in November 2024, up from 43.9% in the year-ago period.

	Number of Salons(*1)	Number of Salons with Data(*2)	Total Customers Served(*3)	Sales per Customer(*4)	Repeat Ratio(*5)	Operation Ratio(*6)
November-23	313	289	75,290	JPY 7,045	77.5%	43.9%
December-23	314	290	83,124	JPY 7,271	77.7%	46.7%
January-24	311	287	74,533	JPY 7,147	76.8%	44.7%
February-24	311	287	71,376	JPY 7,099	77.6%	44.9%
March-24	312	288	77,854	JPY 7,190	77.9%	45.7%
April-24	308	285	74,621	JPY 7,143	75.9%	43.5%
May-24	307	284	80,512	JPY 6,964	74.8%	44.9%
June-24	308	285	82,656	JPY 7,061	75.6%	47.4%
July-24	309	286	81,580	JPY 7,060	75.0%	46.6%
August-24	307	283	83,770	JPY 7,144	75.1%	47.3%
September-24	308	284	82,401	JPY 7,158	75.8%	48.0%
October-24	307	282	79,571	JPY 6,923	76.6%	45.5%
November-24	308	283	75,760	JPY 7,055	77.5%	44.6%

(*1) Number of Salons: Includes the Company’s directly-operated salons and franchisees’ salons.
(*2) Number of Salons with Data: The number of salons for which comparable financial and customer data is available.
(*3) Total Customers Served: The number of customers served at salons for which comparable financial and customer data is available.
(*4) Sales Per Customer: The ratio of total salon sales to number of treated customers at all salons for which comparable financial and customer data is available.
(*5) Repeat Ratio: The ratio of repeat customer visits to total customer visits in the applicable month for all salons for which comparable financial and customer data is available.
(*6) Operation Ratio: The ratio of therapists’ in-service time to total therapists’ working hours (including stand-by time) for the applicable month for all salons for which comparable financial and customer data is available.

* Repeat ratios shown in the chart above do not include salons in public bath houses. In November 2024, the repeat ratios for all salons and salons in public bathhouses only were 77.5% and 56.9%, respectively.

*Since July 2021, the salon operation business has been managed by Wing Inc., which is a wholly-owned subsidiary of the Company.

Health Tech Business (Lav®)
The Company offers a government-specific health guidance program (the “Program”) using Lav®, an on-demand training application developed by the Company. The Program is designed to be less burdensome for the users and is delivered through a completely remote support style using the web remote interview and chat function of Lav®. This approach helps to reduce the dropout rate of conventional specific health guidance programs.

The Program provides support to medical professionals, such as public health nurses, dietitians, etc., that assist eligible individuals (age between 40 and 74) who are at risk of developing lifestyle-related diseases that can be caused by an unbalanced diet, lack of sleep, lack of exercise, smoking, stress, and other factors, by reviewing their lifestyle habits through specific health checkups that focus on metabolic syndrome. The implementation of specific health checkups and specific health guidance has become mandatory for medical insurers in Japan, including national health insurance and employee health insurance providers, since April 2008.

The Ministry of Health, Labor and Welfare has set a nationwide target of at least 70% for specific medical checkup implementation rates and at least 45% for specific health guidance implementation rates. In fiscal year 2021, however, the medical checkup implementation rates and specific health guidance implementation rates were only 56.5% and 24.6%, respectively. As a result, the market for these services is expected to expand due to the government’s effort to achieve the set target implementation rates. According to a survey by the Japan Health Guidance Association, the utilization of Information and Communication Technology (ICT) has been increasing, and the adoption rate has exceeded 50% due to the impact of COVID-19 in recent years.

As of November 2024, the Company has entered into contracts with 95 corporate insurance associations, and the cumulative number of users of the Company’s Lav® app has exceeded 8,000 people, bringing the total to 8,515 individuals.

	Number of New Contracts with Corporate Insurance Associations(*1)	Number of New Users(*2)	Cumulative Number of Contracts with Corporate Insurance Associations(*3)	Cumulative Number of Users
November-23	1	256	73	6,262
December-23	1	161	74	6,423
January-24	1	174	75	6,597
February-24	1	152	76	6,749
March-24	1	203	76	6,952
April-24	3	187	79	7,139
May-24	2	99	81	7,238
June-24	2	131	83	7,369
July-24	1	166	84	7,535
August-24	3	109	87	7,644
September-24	0	221	87	7,865
October-24	6	320	93	8,185
November-24	2	330	95	8,515

(*1) Number of new contracts with corporate insurance associations entered into in the applicable month to implement specified health guidance program offered by the Company.
(*2) Number of new users that started using specified health guidance offered by the Company in the applicable month.
(*3) Cumulative number of contracts with corporate insurance associations excluding the number of terminated contracts.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may include estimates or expectations about the Company’s possible or assumed operational results, financial condition, business strategies and plans, market opportunities, competitive position, industry environment, and potential growth opportunities. In some cases, forward-looking statements can be identified by terms such as “may,” “will,” “should,” “design,” “target,” “aim,” “hope,” “expect,” “could,” “intend,” “plan,” “anticipate,” “estimate,” “believe,” “continue,” “predict,” “project,” “potential,” “goal,” or other words that convey the uncertainty of future events or outcomes. These statements relate to future events or to the Company’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, levels of activity, performance, or achievements to be different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and which could, and likely will, affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to the Company’s operations, results of operations, growth strategy and liquidity. Some of the factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements in this press release include:

• the Company’s ability to achieve its development goals for its business and execute and evolve its growth strategies, priorities and initiatives;
• the Company’s ability to sell certain of its owned salons to investors, and receive management fees from such sold salons, on acceptable terms;
• changes in Japanese and global economic conditions and financial markets, including their effects on the Company’s expansion in Japan and certain overseas markets;
• the Company’s ability to achieve and sustain profitability in its Digital Preventative Healthcare Segment;
• the fluctuation of foreign exchange rates, which affects the Company’s expenses and liabilities payable in foreign currencies;
• the Company’s ability to hire and train a sufficient number of therapists and place them at salons in need of additional staffing;
• changes in demographic, unemployment, economic, regulatory or weather conditions affecting the Tokyo region of Japan, where the Company’s relaxation salon base is geographically concentrated;
• the Company’s ability to maintain and enhance the value of its brands and to enforce and maintain its trademarks and protect its other intellectual property;
• the financial performance of the Company’s franchisees and the Company’s limited control with respect to their operations;
• the Company’s ability to raise additional capital on acceptable terms or at all;
• the Company’s level of indebtedness and potential restrictions on the Company under the Company’s debt instruments;
• changes in consumer preferences and the Company’s competitive environment;
• the Company’s ability to respond to natural disasters, such as earthquakes and tsunamis, and to global pandemics, such as COVID-19; and
• the regulatory environment in which the Company operates.

More information on these risks and other potential factors that could affect the Company’s business, reputation, results of operations, financial condition, and stock price is included in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including in the “Risk Factors” and “Operating and Financial Review and Prospects” sections of the Company’s most recently filed periodic report on Form 20-F and subsequent filings, which are available on the SEC website at www.sec.gov. The Company assumes no obligation to update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ from those anticipated in these forward-looking statements, even if new information becomes available in the future.

About MEDIROM Healthcare Technologies Inc.

MEDIROM, a holistic healthcare company, operates 308 (as of November 30, 2024) relaxation salons across Japan, Re.Ra.Ku^® being its leading brand, and provides healthcare services. In 2015, MEDIROM entered the health tech business and launched new healthcare programs using an on-demand training app called “Lav^®”, which is developed by the Company. MEDIROM also entered the device business in 2020 and has developed a smart tracker “MOTHER Bracelet^®”. In 2023, MEDIROM launched REMONY, a remote monitoring system for corporate clients, and has received orders from a broad range of industries, including nursing care, transportation, construction, and manufacturing, among others. MEDIROM hopes that its diverse health-related product and service offerings will help it collect and manage healthcare data from users and customers and enable it to become a leader in big data in the healthcare industry. For more information, visit https://medirom.co.jp/en.

Contacts
Investor Relations Team
[email protected]

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/044097ba-afae-4c7e-873a-d6c864729cce

https://www.globenewswire.com/NewsRoom/AttachmentNg/095a807a-8dbc-43a6-9a11-0a2a1417d3db

https://www.globenewswire.com/NewsRoom/AttachmentNg/a31937c9-e59c-4cff-9c46-0e75e4440dd2

https://www.globenewswire.com/NewsRoom/AttachmentNg/f2fcdb5d-8393-46d1-9f3d-73d7a4e2ecb4

https://www.globenewswire.com/NewsRoom/AttachmentNg/e6ed0bcb-54f5-419b-b54d-d3f0086f4bdc

https://www.globenewswire.com/NewsRoom/AttachmentNg/ec917127-1447-4db9-bf54-c489f757898e

https://www.globenewswire.com/NewsRoom/AttachmentNg/09ed0042-eb22-4eb2-b449-6ad4bb0b1298

HOUSTON, TX, Dec. 23, 2024 (GLOBE NEWSWIRE) — Nexalin Technology, Inc. (Nasdaq: NXL; NXLIW) (the “Company” or “Nexalin”) the leader in Deep Intracranial Frequency Stimulation (DIFS) of the brain, is pleased to announce the launch of Phase 1 of its proprietary virtual clinic. The virtual clinic will utilize artificial intelligence (AI) and Nexalin’s new Electronic Data Capture (EDC) platform and Patient Monitoring System (PMS). This AI ecosystem is designed to allow the entire clinical trial process—and ultimately the treatment experience—to be conducted virtually in the privacy of patients’ homes while providing physicians with real-time digital data related to the patient’s treatment experience. This innovative AI platform is being designed to manage Nexalin’s virtual clinic and clinical research capabilities, as well as streamline the patient experience for its Generation 3 Halo Device.

Recently, Nexalin announced its plan to transition its groundbreaking brain-stimulation technology from traditional mental health clinics into patients’ homes with the Gen-3 Halo headset. The Halo headset administers Nexalin’s 15mAmp deep frequency stimulation to the brain. The entire treatment process is non-invasive and undetectable to the patient. Clinical data supports the safety and efficacy of Nexalin’s advanced 15mAmp waveform for addressing mental health challenges, including depression, insomnia, Alzheimer’s disease, addiction, and other conditions. The Halo headset requires FDA clearance as a medical device, along with a prescription and monitoring by a physician. Halo is designed to be used in the privacy of a patient’s home, in an AI-based virtual setting while supervised by a licensed physician.

Phase 1 of Nexalin’s virtual clinic also introduces the proprietary Electronic Data Capture (EDC) platform, which enables efficient real-time data acquisition and analysis during clinical trials. Integrated with a patient-friendly smartphone application, the AI-based system will allow users to initiate treatment sessions virtually. Treatment data is automatically and securely uploaded to the cloud, ensuring compliance with diverse study protocols and providing actionable insights.

Nexalin will also configure its AI platform to include a Patient Monitoring System (PMS) to enhance the treatment experience. Through its interactive smartphone application, clinical teams can monitor patient progress, analyze adherence to treatment protocols, and make real-time adjustments as necessary. The virtual clinic will also include a built-in telemedicine feature, enabling direct communication between patients and Nexalin’s Brain-Health clinical team, ensuring personalized care and support throughout the treatment process.

Both the EDC and PMS systems were custom-developed by Trial-Track to Nexalin’s specifications. Reynold Yordy, CTO of Trial-Track, expressed his enthusiasm, “We are thrilled to collaborate with Nexalin, a company leading the way in AI-based neurostimulation technology. We are confident that Phase 1 of Nexalin’s virtual clinic, incorporating the EDC and PMS, will greatly enhance the clinical trial experience for patients and set a new standard of care for individuals struggling with mental health challenges.”

Mark White, CEO of Nexalin, remarked, “This AI platform is a major milestone for Nexalin as we continue to innovate and improve the treatment experience for patients. Our partnership with Trial-Track has allowed us to leverage their technical expertise to create tools that support our Generation 3 Halo Device and virtual, AI-based clinic while driving efficiency in our future clinical trials. This combination of the Gen-3 Halo Device, EDC platform, and PMS represents a significant advancement in our commitment to improving patient outcomes.”

About Nexalin Technology, Inc.

Nexalin designs and develops innovative neurostimulation products to uniquely help combat the ongoing global mental health epidemic. All of Nexalin’s products are non-invasive and undetectable to the human body and are developed to provide relief to those afflicted with mental health issues. Nexalin utilizes bioelectronic medical technology to treat mental health issues. Nexalin believes its neurostimulation medical devices can penetrate structures deep in the mid-brain that are associated with mental health disorders. Nexalin believes the deeper-penetrating waveform in its next-generation devices will generate enhanced patient response without any adverse side effects. The Nexalin Gen-2 15 milliamp neurostimulation device has been approved in China, Brazil, and Oman. Additional information about the Company is available at: https://nexalin.com/.

Forward-looking statements

This press release contains statements that constitute “forward-looking statements,” These statements relate to future events or Nexalin’s future financial performance. Any statements that refer to expectations, projections or other characterizations of future events or circumstances or that are not statements of historical fact (including without limitation statements to the effect that Nexalin or its management “believes”, “expects”, “anticipates”, “plans”, “intends” and similar expressions) should be considered forward-looking statements that involve risks and uncertainties which could cause actual events or Nexalin’s actual results to differ materially from those indicated by the 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 Report on Form 10-K for the year ended December 31, 2023, and other filings as filed with the Securities and Exchange Commission. Copies of such filings are available on the SEC’s website,

www.sec.gov

. Such forward-looking statements are made as of the date hereof and may become outdated over time. Such forward-looking statements are made as of the date hereof and may become outdated over time. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:

Crescendo Communications, LLC
Tel: (212) 671-1020
Email: [email protected]

CHICAGO, Dec. 23, 2024 (GLOBE NEWSWIRE) — XA Investments LLC (“XAI”), an alternative investment management and consulting firm, tracks developments in the non-listed closed-end funds (CEF) market on a monthly and quarterly basis. The non-listed closed-end funds market includes all interval and tender offer funds.

“As 2024 draws to a close, we’ve been pleased to see that the pace of new N-2 filings with the SEC for new interval and tender offer funds is accelerating. In the month of November alone, there were 5 new filings, with 15 total new filings since the end of the third quarter,” stated Kimberly Flynn, the President of XAI. “The fourth quarter of 2024 is far ahead in the number of filings from the fourth quarter of 2023, which only had nine new funds filed. This is already a remarkable 66% increase from last year, with a month left in the quarter. Based on these robust findings, XAI expects the first half of 2025 to be an evergreen product boom with so many new alternative funds in the SEC registration process now.” she added.

XAI’s December market update report showed that as of November 30, 2024, there were 247 total interval and tender offer funds with combined $171 billion in net assets and $204 billion in total managed assets, inclusive of leverage. The 122 interval funds make up 60% of the total managed assets at $121.8 billion and the 125 tender offer funds make up the other 40% with $81.9 billion in total managed assets. Year-to-date, the market gained 35 funds and marketwide net assets increased $31 billion.

In total, there are 142 unique sponsors in the interval and tender offer fund space. The market has continued to diversify with new fund sponsors that entered the market in late 2024, including Rockefeller Asset Management, Booster Asset Management, and Gladstone Management Corporation. There are a total of 54 funds currently in the SEC registration process. The market will further expand with the anticipated launch of several new funds currently in the SEC registration process. The sponsors of the most recently filed funds include Columbia Threadneedle, Sovereign Financial Group, Segall Bryant & Hamill, Select Equity Group, and Coatue Management. This group includes several high-profile alternative investment managers.

One interesting N-2 filing, Corient Registered Alternatives Fund, filed with the SEC on November 19, 2024. The Corient tender offer fund is the first interval / tender offer fund by Segall Bryant & Hamill, a registered investment adviser with over $185 billion in AUM. XAI observes more RIAs building proprietary alt products and expects the trend to continue in 2025. The Corient tender offer fund engaged Nuveen affiliated Churchill Asset Management, an alternative manager overseeing $50 billion in AUM, to serve as sub-adviser. The fund is planning to invest in a range of different alternatives including direct private equity, co-investments, BDCs, REITs and private funds.

The XA Investments research team forecasts combined interval fund / tender offer fund assets to reach $220bn and 275+ funds by year-end in 2025. The interval fund segment of the market growth rate (23% CAGR) exceeds that of the slower growing tender offer fund segment (16% CAGR). With more long duration alternatives such as private equity and infrastructure launching, we would expect to see the growth rate for tender offer funds accelerate. In 2025, private credit is expected to continue to dominate capital raising and new fund formations. Most private credit funds have been organized as daily NAV interval funds and can be purchased electronically through the NSCC/FundSERV platform making it easier for advisors to implement interval funds into client portfolios. We expect the private equity and hedge fund categories of the interval / tender offer fund market to follow close behind private credit in terms of growth and investor adoption next year.

For more information on the interval fund market and to read our monthly reports and full quarterly reports on non-listed CEFs, please visit the CEF Market research page linked here and click ‘Subscribe’ for access to XAI online research portal and pricing information. In addition, please contact [email protected] or 888-903-3358 with questions.

About XA Investments

XA Investments LLC is a Chicago-based investment advisory firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund. The listed closed-end funds, the XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) and Madison Covered Call & Equity Strategy Fund (NYSE: MCN) both trade on the New York Stock Exchange. The interval closed-end fund, Octagon XAI CLO Income Fund (OCTIX), is newly launched. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including product development and market research, sales, marketing and fund management. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. XAI provides individual investors with access to institutional-caliber alternative managers. For more information, please visit www.xainvestments.com.

Sources: XA Investments; CEFData.com; SEC Filings.

Notes: All information as of 11/30/2024 unless otherwise noted. Total managed assets is inclusive of leverage. The non-listed CEF market is subject to lags in reporting and limited data availability. Data such as asset levels, net flows, and performance are delayed up to 90 days after quarter-end and are not available for all funds. All data in the report is the most current available. Please contact our team if you have any questions about the non-listed CEF marketplace

Contact

Kimberly Flynn, President
XA Investments LLC
Phone: 888-903-3358
Email: [email protected]
www.xainvestments.com

LOS ANGELES, Dec. 23, 2024 (GLOBE NEWSWIRE) — Crown Electrokinetics Corp. (NASDAQ: CRKN) (“Crown” or the “Company”), a leading provider of innovative technology infrastructure solutions that benefit communities and the environment, today announced that its Water Solutions division has successfully completed construction of the first of two slant wells at the Twin Dolphin Club in Cabo San Lucas, Mexico.

The slant well is the first-of-its-kind, an innovative design to address water scarcity, providing a sustainable and reliable source of water for coastal areas facing critical water challenges. Measuring 140 ft in length, the slant well is designed to efficiently extract water from beneath the ocean floor while minimizing environmental impact through advanced engineering and innovative technology.

“We are extremely proud to complete construction of the first-of-its-kind slant well,” said Corey Boaz, President of Construction. “During construction, the team overcame challenging ground conditions, storms, and limited work hours to minimize disturbances to the hotel’s operations. Crown performed an electrical resistivity survey, where submarine cables were laid on the ocean floor to ensure the optimal path and precise placement of the screen sections. This project sets a new benchmark for sustainable water infrastructure, demonstrating how innovative solutions can effectively address the pressing challenges of water scarcity.”

The slant wells will provide a dependable source of water for the Twin Dolphin Club while showcasing an innovative approach to addressing water scarcity. Crown’s proprietary design slant well has already garnered significant interest in the Los Cabos region due to its ability to secure an unlimited recharge source of water. With water scarcity being a critical issue worldwide, this innovative technology has the potential to address similar challenges in other coastal areas, offering a scalable and sustainable solution.

“Completion of the first slant well is a key milestone for Crown,” added Doug Croxall, CEO and Chairman, Crown. “This project demonstrates the transformative potential of our Water Solutions division and underscores our commitment to addressing global water scarcity through innovative and scalable technologies. We look forward to replicating its success many times in Mexico and additional water-scarce countries.”

About Crown

Crown (Nasdaq: CRKN) is an innovative infrastructure solutions provider dedicated to benefiting communities and the environment. Comprised of three business divisions, Smart Windows, Fiber Optics, and Water Solutions, Crown is developing and delivering cutting edge solutions that are challenging the status quo and redefining industry standards. For more information, please visit www.crownek.com.

Forward Looking Statements

Certain statements in this news release may be “forward-looking statements” (within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995) regarding future events or Crown’s future financial performance that involve certain contingencies and uncertainties, including those discussed in Crown’s Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent reports Crown files with the U.S. Securities and Exchange Commission from time to time, in the sections entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” . Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Crown Electrokinetic Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

For more information, please contact:

Investor Relations

[email protected]

Public Relations

[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8c16ce03-4429-4d3d-b7d4-e5a70833fdfb

WARREN, N.J., Dec. 23, 2024 (GLOBE NEWSWIRE) — Tevogen Bio (“Tevogen” or “Tevogen Bio Holdings Inc.”) (Nasdaq: TVGN), a clinical-stage specialty immunotherapy biotech developing off-the-shelf, genetically unmodified T cell therapeutics to treat infectious disease and cancers, announced today the company will host an AI panel during the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco, California. The panel, titled “AI in Biopharma: Next Frontier of Medical Innovation,” will explore the transformative potential of artificial intelligence in the biopharma industry. Panelists will include Dr. David Rhew, Global Chief Medical Officer & VP of Healthcare of Microsoft (Nasdaq: MSFT), Mittul Mehta, Chief Information Officer and Head of Tevogen.AI, and Dr. Sean Tunis, Principal of Rubix Health.

The discussion will highlight how AI-driven technologies can revolutionize drug discovery, accelerate development timelines, enhance patient accessibility, foster quicker innovation, and significantly reduce operating costs. Attendees can expect insights into how Tevogen.AI is leveraging advanced AI capabilities to advance precision T cell therapies for infectious diseases, cancers, and neurological disorders.

Event Details

Date:

Monday, January 13, 2025

Location:

Marines’ Memorial Club & Hotel, 609 Sutter St, San Francisco, CA 94102

Time (PST):

2:00 PM – 2:30 PM – AI in Biopharma: Next Frontier of Medical Innovation
2:30 PM – 3:15 PM – Afternoon Coffee Break
3:15 PM – 4:00 PM – Pioneering the Economics of Health: Balancing Access and Outcomes
4:00 PM – 6:00 PM – Reception and Cocktails

For inquiries regarding additional event details, please contact [email protected].

About Tevogen Bio

Tevogen is a clinical-stage specialty immunotherapy company harnessing one of nature’s most powerful immunological weapons, CD8+ cytotoxic T lymphocytes, to develop off-the-shelf, genetically unmodified precision T cell therapies for the treatment of infectious diseases, cancers, and neurological disorders, aiming to address the significant unmet needs of large patient populations. Tevogen Leadership believes that sustainability and commercial success in the current era of healthcare rely on ensuring patient accessibility through advanced science and innovative business models. Tevogen has reported positive safety data from its proof-of-concept clinical trial, and its key intellectual property assets are wholly owned by the company, not subject to any third-party licensing agreements. These assets include three granted patents, nine pending US and twelve ex-US pending patents, two of which are related to artificial intelligence.

Tevogen is driven by a team of highly experienced industry leaders and distinguished scientists with drug development and global product launch experience. Tevogen’s leadership believes that accessible personalized therapeutics are the next frontier of medicine, and that disruptive business models are required to sustain medical innovation.

Contacts

Tevogen Bio Communications
T: 1 877 TEVOGEN, Ext 701
[email protected]

PHILADELPHIA, Dec. 23, 2024 (GLOBE NEWSWIRE) — Berger Montague PC advises investors that a securities class action lawsuit has been filed against Evolv Technologies Holdings, Inc. (“Evolv” or the “Company”) (NASDAQ: EVLV) on behalf of purchasers of Evolv securities between August 19, 2022 through October 30, 2024, inclusive (the “Class Period”).

Investor Deadline: Investors who purchased or acquired EVOLV securities during the Class Period may, no later than DECEMBER 31, 2024, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation, please contact Berger Montague: Andrew Abramowitz at




[email protected]




or (215) 875-3015, or Peter Hamner at




[email protected]




, or




CLICK HERE


.

Headquartered in Waltham, MA, Evolv is a security technology company that utilizes AI-based screening designed to help create safer experiences.

According to the lawsuit, throughout the Class Period, Evolv and its senior management failed to alert investors that the Company’s financial statements contained material misstatements relating to Evolv’s revenue recognition and other revenue-related metrics.

On October 25, 2024, Evolv announced that the Company’s financial statements issued between the second quarter of 2022 and the second quarter of 2024 should not be relied upon due to material misstatements impacting revenue recognition. The Company revealed that certain sales, including sales to one of its largest channel partners, were subject to extra-contractual terms not shared with the Company’s accounting personnel and that certain Evolv personnel had engaged in misconduct. The Company further announced that it had self-reported these issues to the Securities and Exchange Commission.

On this news, the price of Evolv stock declined approximately 40%, from a close of $4.10 per share on October 24, 2024, to a close of $2.47 per share on October 25, 2024.

On October 31, 2024, Evolv announced the termination of its CEO, Peter George, effective immediately. On this news, the price of Evolv stock declined approximately 8%, from a close of $2.34 per share on October 30, 2024, to a close of $2.15 per share on October 31, 2024.

Learn More About the Lawsuit

A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.

Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.

Contact:

Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
[email protected]  

Peter Hamner
Berger Montague PC
[email protected]