Market Newsdesk

November 12, 2020 5:40 pm

American Realty Investors, Inc. Reports Earnings for Q3 2020

American Realty Investors, Inc. Reports Earnings for Q3 2020

DALLAS–(BUSINESS WIRE)–
American Realty Investors, Inc. (NYSE:ARL) is reporting its results of operations for the quarter ended September 30, 2020. For the three months ended September 30, 2020, the Company reported a net income attributable to common shares of $8.0 million or $0.50 per diluted share, compared to a net loss attributable to common shares of $7.6 million or $0.47 per diluted share for the same period in 2019.

COVID-19

The Company continues to closely monitor the impact of the COVID-19 pandemic on all aspects of its business. COVID-19 did not have a significant impact on the Company’s results of operations or cash flows during the three months ended September 30, 2020.

The Company collected approximately 96% of its second quarter rents, comprised of approximately 95% from multi-family tenants and approximately 97% from office tenants.
The Company did not grant any abatements or significant deferments of rents.
Occupancy remains stable at 91% at September 30, 2020 and 2019.
The Company continued to obtain positive leasing spreads for new leases and renewals at it properties.
Ongoing development projects continued during the quarter unabated without work stoppages. In addition, the Company is evaluating several new development projects.

The future impact of COVID-19 on the Company’s business and financial activities will depend on future developments, which at this stage are unpredictable considering the fluctuations of COVID-19 outbreaks and the resulting changes in the markets.

Financial Results

Rental revenues were $11.5 million for the three months ended September 30, 2020, compared to $1.14 million for the three months ended September 30, 2019. For 2020, we generated revenues of $7.8 million and $3.7 million from our commercial and multifamily segments respectively.

Net operating loss was $2.3 million for the three months ended September 30, 2020, compared to $0.6 million for the same period in 2019. The $1.7 million increase in net operating loss is primarily due to the placement in service of two new multifamily apartment communities in 2020. Operating expense of new properties generally exceed their rental revenues during initial lease-up.

Interest income was $5.4 million for the three months ended September 30, 2020, compared to $6.9 million for the same period in 2019. The decrease of $1.5 million in interest income was primarily due to collection on notes receivable in 2020.

Interest expense was $7.6 million for three months ended September 30, 2020, compared to $10.4 million for the same period in 2019. The decrease of $2.8 million in interest expense was primarily due to the refinancing of the mortgage note payable on Browning Place in 2019.

Loss on foreign currency transactions was $1.5 million for the three months ended September 30, 2020 as compared to $5.2 million for the same period in 2019. The decrease is foreign currency loss was due to a decrease in the exchange rate from U.S. Dollars to the Israel Shekel offset in part by a reduction in the bonds outstanding.

Gain on sale or write-down of assets increased $10.2 million for the three months ended September 30, 2020, compared the same period in 2019. The increase is primarily due to the sales in 2020 of Bridgeview Plaza for $5.3 million, resulting in a gain of $4.8 million; and the sale of Farnham Park Apartments for $13.3 million, resulting in a gain of $2.7 million.

About American Realty Investors, Inc.

American Realty Investors, Inc., a Dallas-based real estate investment company, holds a diverse portfolio of equity real estate located across the U.S., including office buildings, apartments, shopping centers, and developed and undeveloped land. The Company invests in real estate through direct ownership, leases and partnerships and invests in mortgage loans on real estate. The Company also holds mortgage receivables. The Company’s primary asset and source of its operating results is its investment in Transcontinental Realty Investors, Inc. (NYSE:TCI). For more information, visit the Company’s website at www.americanrealtyinvest.com.

AMERICAN REALTY INVESTORS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(dollars in thousands, except per share amounts)
(Unaudited)

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
		2020			2019			2020			2019
Revenues:
Rental revenues (including $262 and $212 for the three months and $808 and $527 for the nine months ended 2020 and 2019, respectively, from related parties)	$	11,453		$	11,407		$	34,460		$	34,352
Other income (loss)		484			1,824			5,348			9,679
Total revenues		11,937			13,231			39,808			44,031
Expenses:
Property operating expenses (including $253 and $237 for the three months ended and $750 and $741 for the six months ended 2020 and 2019, respectively, from related parties)		6,387			5,883			18,507			19,203
Depreciation and amortization		3,526			3,416			10,338			9,964
General and administrative (including $1,094 and $1,002 for the three months ended and $2,991 and $3,680 for the six months ended 2020 and 2019, respectively, from related parties)		1,998			2,107			7,958			7,716
Advisory fee to related party		2,329			2,403			7,055			6,807
Total operating expenses		14,240			13,809			43,858			43,690
Net operating (loss) income		(2,303	)		(578	)		(4,050	)		341
Interest income (including $4,812 and $6,240 for the three months ended and $14,566 and $18,328 for the six months ended 2020 and 2019, respectively, from related parties)		5,421			6,856			16,459			19,514
Interest expense (including $1,583 and $2,402 for the three months ended and $5,040 and $7,094 for the six months ended 2020 and 2019, respectively, from related parties)		(7,622	)		(10,420	)		(26,295	)		(29,796	)
(Loss) gain on foreign currency transaction		(1,470	)		(5,153	)		774			(13,296	)
Loss on extinguishment of debt		–			(5,219	)		–			(5,219	)
Income (losses) from unconsolidated joint ventures		337			(75	)		(642	)		(1,135	)
Gain on sales or write-down of assets		15,325			5,139			24,802			9,792
Income tax expense		(50	)		–			(346	)		–
Net income (loss)		9,638			(9,450	)		10,702			(19,799	)
Net (income) attributable to non-controlling interest		(1,651	)		1,879			(2,075	)		3,303
Net income (loss) attributable to common shares	$	7,987		$	(7,571	)	$	8,627		$	(16,496	)

Earnings (loss) per share – attributable to common shares
Basic and diluted	$	0.50		$	(0.47	)	$	0.54		$	(1.03	)
Weighted-average number of common shares outstanding:
Basic and diluted		15,997,076			15,997,076			15,997,076			15,997,076


AMERICAN REALTY INVESTORS, INC.
CONSOLIDATED BALANCE SHEETS
(dollars in thousands, except share and par value amounts)
(Unaudited)

	September 30, 2020			December 31, 2019
Assets
Real estate, net	$	380,715		$	387,790
Notes receivable (including $96,181 in 2020 and $93,524 in 2019 from related parties)		151,310			143,086
Cash and cash equivalents		32,986			51,228
Restricted cash		28,030			32,083
Investment in unconsolidated joint ventures		57,144			67,655
Receivable from related party		86,089			85,996
Other assets		71,313			62,803
Total assets	$	807,587		$	830,641

Liabilities and Equity
Liabilities:
Mortgages and notes payable	$	248,943		$	254,094
Bonds payable		203,192			223,265
Accounts payable and other liabilities (including $12,495 in 2020 and $11,817 in 2019 to related parties)		23,284			24,769
Accrued interest payable		3,341			7,236
Deferred revenue		21,609			24,761
Total liabilities		500,369			534,125

Equity
Shareholders’ equity:
Preferred stock, Series A: $2.00 par value, authorized 15,000,000 shares, issued 1,800,614 and outstanding 614 at September 30, 2020 and December 31, 2019.		5			5
Common stock, $0.01 par value, 100,000,000 shares authorized; 16,412,861 shares issued and 15,997,076 outstanding at September 30, 2020 and December 31, 2019.		164			164
Treasury stock at cost; 415,785 shares in 2020 and 2019.		(6,395	)		(6,395	)
Paid-in capital		82,017			82,017
Retained earnings		172,335			163,708
Total shareholders’ equity		248,126			239,499
Non-controlling interest		59,092			57,017
Total equity		307,218			296,516
Total liabilities and equity	$	807,587		$	830,641

View source version on businesswire.com: https://www.businesswire.com/news/home/20201112006113/en/

American Realty Investors, Inc.

Investor Relations

Erik Johnson (469) 522-4200

[email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Construction & Property Professional Services REIT Finance

MEDIA:

Logo

November 12, 2020 5:37 pm

CI Global Asset Management Announces Special Distributions for CI First Asset MSCI World Low Risk Weighted ETF

CI Global Asset Management Announces Special Distributions for CI First Asset MSCI World Low Risk Weighted ETF

NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

TORONTO–(BUSINESS WIRE)–
CI Global Asset Management (“CI GAM”) announces the following special distributions in respect of CI First Asset MSCI World Low Risk Weighted ETF. In all cases, the special cash distribution will be paid on or before November 30, 2020 to unitholders of record on November 19, 2020. The ex-dividend date for CI First Asset MSCI World Low Risk Weighted ETF is November 18, 2020. In addition, there will also be a special distribution that will be reinvested on or about November 30, 2020 to unitholders of record on November 19, 2020.

These confirmed amounts are for the special distributions only and do not include the ongoing regular monthly or quarterly cash distributions.

Trading Symbol

Special Cash

Distribution Amount

(per unit)

CI First Asset MSCI World Low Risk Weighted ETF (Unhedged)

RWW.B

$0.1157

		Trading Symbol		Special Distribution Amount (to be reinvested and consolidated)
CI First Asset MSCI World Low Risk Weighted ETF (Unhedged)		RWW.B		$0.2465

Supporting investors’ needs

Stay in the market, minimize costs, and take advantage of a smart, simple and efficient feature designed to support investors’ needs. The CI Distribution Reinvestment Plan (DRIP) will automatically reinvest cash distributions into the CI ETF making the distribution. All of the distributions indicated in the table above will be paid in cash unless the unitholder has enrolled in the applicable DRIP of the respective ETF. A copy of the Distribution Reinvestment Plan is available at www.firstasset.com.

About CI Global Asset Management

CI Global Asset Management is one of Canada’s largest investment management companies. It offers a wide range of investment products and services and is on the web at www.ci.com. CI Global Asset Management is a subsidiary of CI Financial Corp. (TSX: CIX), an independent company offering global asset management and wealth management advisory services with $202.4 billion in total assets as of October 31, 2020.

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase exchange-traded funds (ETFs) managed by CI Global Asset Managementand is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard.

Commissions, management fees and expenses all may be associated with an investment in ETFs. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them. Please read the prospectus before investing. Important information about an exchange-traded fund (ETF) is contained in its prospectus. ETFs are not guaranteed; their values change frequently and past performance may not be repeated.

CI Global Asset Management is a registered business name of CI Investments Inc.

For further information, please contact CI Global Asset Management at 416-642-1289 or 1‐877‐642‐1289, or visit www.firstasset.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201112006112/en/

Murray Oxby

Vice-President, Corporate Communications

CI Global Asset Management

416-681-3254

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Professional Services Finance

MEDIA:

November 12, 2020 5:36 pm

NACB’s 2020 Social Equity Conference Spotlights Cannabis Social Equity Trends & Business Opportunities

NACB convenes legal, public policy and advocacy experts for free virtual event

New York, NY, Nov. 12, 2020 (GLOBE NEWSWIRE) — New York, NY (November 12, 2020) – The National Association of Cannabis Businesses (NACB) has released the list of dynamic, catalytic experts presenting at its 2020 Social Equity Conference. The conference will be held via Zoom on Monday, November 16, 2020, with the first panel session starting at 9:00 am PST. Networking and a virtual happy hour starting at 4:00 pm will follow the last session. See the day’s agenda and registration information.

“The cannabis industry has a unique opportunity to lead the nation in minority business ownership and workforce diversity,” said Gina Kranwinkel, President and CEO of NACB. “The question is, How will we respond? Our interactive event is designed to bring everyone into the social equity conversation and share the latest thinking on cannabis social equity trends and business opportunities. There is no charge to join this conversation, and everyone is welcome. Let’s raise our voices for a more progressive and united future.”

Here is the line-up of social equity sessions to be presented by cannabis industry experts:

Session 1: Social Reform & Cannabis: Join the Conversation
starting at 9:00 am PST

Saskia VannJames, Lobbyist, Massachusetts Recreational Consumer Council Board Member (moderator)

Heather Penzel, Spiritual Leader, within/without
Kelly Perez, President/Co-Founder of Cannabis Doing Good, Co-Executive Director of the Cannabis Impact Fund
Ernest Toney, Founder BIPOCANN

Equality. Social Equity. Social Reform. Diversity. Tokenism. Inclusion. Social Justice. These terms are sparking headlines and heated emotions across the country, but are we always on the same wavelength when we talk about social reform or push for diversity and inclusion initiatives? Experts on this panel will define these concepts, clarify the differences between them and talk about their importance to cannabis business owners. This panel will give you the tools to consciously create inclusion at work and in your everyday life.

Session 2: Call to Action: Have a Voice
starting at 10:00 am PST

Tom Nolasco, Director of Legal and Strategic Initiatives, NACB (moderator)

Aaron Goines, Co-Founder & CEO The Emerald Turtle
Mark Gorman, Executive Vice President/Chief Operating Officer, NACB
Saskia VannJames, Lobbyist, Massachusetts Recreational Consumer Council Board Member

The cannabis industry is growing quickly, and we should expect industry regulation to catch up soon. Is your voice being heard when you sign a petition or participate in a rally? How do you know where to look for guidance or decide which groups to support? Our cannabis advocacy expert panelists will explain that you don’t need to be a lobbyist to stand up and make your voice count, even in pandemic times. Join this session to learn how to be proactive in creating change and wielding your influence. This is your call to action!

Session 3: Cities & States Leading the U.S. Social Equity Program
starting at 11:00 am PST

Mark Gorman, Executive Vice President/Chief Operating Officer, NACB (moderator)

Shawn Collins, Executive Director, Cannabis Control Commission
Dasheeda Dawson, Cannabis Program Supervisor for the City of Portland, Oregon, and Founder and Chief Executive Officer, The WeedHead ™
Portia Mittons, Owner The Coughie Pot, and Chair of the Social Equity and Racial Justice Committee for the Oregon Retailers of Cannabis Association
Joey Peña, City of Denver Cannabis Process Navigator

Across the U.S cities and states are implementing social equity programs linked to their local cannabis industry. What is the purpose behind these programs? Who are they designed to help and why are they needed? Our expert panelists will share the goals of their social equity programs and their impact. They’ll also discuss barriers to implementation they have encountered, and ways to move beyond them effectively. If you are a cannabis business owner or future entrepreneur, you’ll want to hear more about the opportunities a local social equity program can provide to you.

Session 4: More Than a Checkbox: Diversity in Cannabis Workplaces
starting at 1:00 pm PST

Heather Cabot, Journalist and Author of The New Chardonnay: The Unlikely Story of How Marijuana Went Mainstream (moderator)

Morgan Forsey, Partner in the Labor and Employment Practice Group and Co-Office Managing Partner of Sheppard Mullin, San Francisco
Roz McCarthy, Founder & CEO of M4MM
Jennifer Whetzel, Founder, Ladyjane branding firm for cannabis businesses

Like every business in the U.S., cannabis workplaces are subject to Equal Employment Opportunity Commission rules. But what happens when cannabis business owners go from nominal compliance to truly embracing workplace diversity? Is it worth it to seek out a variety of perspectives in your hiring, and go the extra mile to ensure people feel comfortable in their surroundings? What is the importance of hiring justice-impacted individuals? Find out from our expert panelists why making sure everyone in your organization has a voice can lead to unexpectedly strong positive results.

Session 5: For Liberty and Justice for All
starting at 2:00 pm PST

Jason Cragholm, Founder & CEO, QualSCORE (moderator)

Amy McDougal, CCEP, Director of the International Cannabis Bar Association & Chair of the ICBA Active Ethics Committee
Shanita Penny, Principal, Budding Solutions
Tom Nolasco, Director of Legal and Strategic Initiatives, NACB

What did America’s founders hope for when they set down the principles of liberty, equality and justice for all? Could they have envisioned the America of today? Our expert panel will take us on a deep dive into the differences between compliance and the ethics of inclusion. They’ll get you thinking about your core beliefs on freedom in this country, and how we can treat all groups, including protected classes, with fairness. Expect to be engaged and challenged in this discussion. Your takeaways will be new ways of looking at cannabis business and its role in advancing social equity in our society.

Session 6: The Journey of Social Equity Licensees: Stories from the Front Lines
starting at 3:00 pm PST

Ernest Toney, Founder BIPOCANN (moderator)

Devin Alexander, CEO of Rolling Releaf, and Vice President of The Massachusetts Cannabis Association for Delivery, Massachusetts Social Equity Program Graduate
Cindy De La Vega, CEO of STIIIZY Union Square
Jennifer J. Gaskin, CCRP, CMQ-OE, Co-Founder & Managing Partner, Empress & Bandit Greenery
Janelle Goines, Co-Founder & COO of The Emerald Turtle

Social equity programs level the playing field for those who have been incarcerated on cannabis charges or live in neighborhoods disproportionately impacted by the War on Drugs. Hear from social equity licensees about their journeys, from the struggles to the wins, and equally important, what they want to see changed. This panel is your chance to increase your understanding about the difficulties and challenges these licensees have faced and continue to face in the cannabis industry and in their everyday lives.

About the National Association of Cannabis Businesses (NACB): The National Association of Cannabis Businesses (NACB) is a self-regulatory organization whose mission is to advance the industry by building consensus around best practices, promoting business responsibility and demonstrating to regulators what transparent and responsible regulations should look like. Compliance with NACB national standards is required for ongoing membership in the NACB.

Meggan Hau
National Association of Cannabis Businesses (NACB)
7025735884
[email protected]

November 12, 2020 5:34 pm

Natura &Co significantly outperforms global CFT market in Q3 with strong sales growth and margin improvement

Recent highlights include strengthened capital structure, launch of &Co Pay financial services platform and certification of Aesop as a B Corp™

PR Newswire

SÃO PAULO, Nov. 12, 2020 /PRNewswire/ — Natura &Co (NYSE – NTCO; B3 – NTCO3) posted a strong growth in revenue in the third quarter, significantly outperforming the global Cosmetics, Fragrance, and Toiletries market, as the sustained ramp-up in digital sales across all brands continued. Consolidated sales stood at R$10.4 billion, up 31.7% in Brazilian Reais and 11.6% at constant currency.

The Group also strengthened its capital structure with the successful completion in October of a US$1 billion capital raise. The transaction allows for balance sheet optimization by accelerating deleveraging while also enabling investments to drive growth in strategic priorities including Avon’s integration, Group digitalization, geographic expansion, and the Group’s 2030 Sustainability commitments.

A key sustainability milestone included Aesop’s certification as a B Corp^TM; joining Natura, The Body Shop, and a movement of businesses dedicated to achieving the highest social, economic, and environmental standards.

Natura &Co also took another step forward in its continued digitalization with the launch of &Co Pay, its proprietary financial services platform. &Co Pay will help drive productivity to consultants and representatives by allowing them access to key financial services, promoting digital and financial inclusion. Launching first in Latin America, &Co Pay will be rolled out globally within the next couple of years.

Roberto Marques, Executive Chairman and Group CEO of Natura &Co, declared: “Enabled by continued digitalization, our brands delivered strong results in the third quarter, with significant growth in sales and margin improvement. In an environment that has remained challenging throughout the world as a result of the Covid-19 pandemic, we delivered superior results compared to the CFT market both globally and in Brazil. Our performance this quarter attests to the strength of our fundamentals, our unparalleled Direct-to-Consumer reach, and the resilience of our omnichannel, multi-brand model.”

Natura &Co’s consolidated net revenue growth was driven by outperformance by both Natura and Aesop, solid growth by The Body Shop, and growth in sales in Reais by Avon. Adjusted EBITDA was R$1,547.3 million, with margin of 14.8%, a gain of 330 basis points, driven by revenue growth, improved gross margin, and cost discipline across all businesses.

Even as many retail markets reopened, the Group experienced continued strong acceleration in digital social selling and e-commerce, with total e-commerce sales growing more than 115% in the quarter vs. the same period last year. At Natura and Avon combined, e-commerce sales grew more than 80% through consultants sharing their online stores. Online sales at Aesop were up 264%, and e-commerce sales at The Body Shop grew 103%. Digital social selling also progressed. At Avon globally, sales via representatives sharing e-brochures more than doubled, and the number of consumers accessing Avon’s e-brochure increased nearly 70% vs. Q3-19. At Natura, content sharing grew by more than 170% since the first quarter of this year, and the number of orders increased 45% vs. Q3-19 through the more than 1 million consultant online stores (+75% vs. Q3-19).

Natura &Co Latam’s net revenue increased by 29.5% in BRL. The Natura brand’s net revenue rose by a very strong 41.2% in BRL, supported by both Brazil (+30.5%), outperforming the domestic CFT market, and Hispanic Latam (+65.7%). The Avon brand’s net revenue increased by 19.3% in BRL (+9.9% at CC). Excluding the cyber incident effect that shifted R$390 million in sales to Q3, Avon sales were up 3.3%, including +6.1% in Brazil, its first growth in the country since Q4-18, thanks to increased representative numbers and higher activity. Adjusted EBITDA for Natura &Co Latam was R$1,002.8 million, up 96.1%, and adjusted EBITDA margin was 16.5% (+560 bps).

Avon International, which comprises Avon’s activities in 50 markets throughout Europe, Asia, Africa, and the Middle East, saw its Q3 net revenue grow by 22.5% in BRL as most markets showed signs of recovery. Excluding the positive phasing effect of R$60 million from the cyber incident, growth was 19.5%. Avon’s new brand campaign, Watch Me Now, premiered in September across more than 30 countries. Adjusted EBITDA was R$183 million, with 7.4% margin (-200 bps).

The Body Shop’s net revenue increased 51.9% in BRL, driven by a very strong performance in online and direct sales. Consumers continued to shift to e-commerce and At-Home (direct sales), with growth of more than 103% and 333%, respectively, significantly offsetting slower recovery of retail sales. At the end of the quarter, 97% of stores were reopened. Adjusted EBITDA in Q3 was R$308.3 million, with adjusted margin of 22.3% (+360 bps).

Aesop continued its success story from Q2, with strong double-digit growth in both sales and profitability in Reais. Net sales grew 67.2% in Q3 as a 264% increase in digital sales helped offset ongoing partial retail closures related to Covid-19 in major markets such as the US and Australia. 95% of the retail network had reopened at the end of the quarter. EBITDA in Q3 grew by 121.6% to R$154.4 million, with margin up 770 basis points to 31.3%. Aesop’s commitment to sustainable business practices was underscored by its certification as a B Corp^TM on November 9.

About Natura &Co

Natura &Co is a global, purpose-driven, multi-channel and multi-brand cosmetics group which includes Avon, Natura, The Body Shop and Aesop. Natura &Co posted net revenues of R$ 14.4 billion in 2019 and R$32.9 billion on a proforma basis, including Avon. The four companies that form the group are committed to generating positive economic, social and environmental impact. For 130 years Avon has stood for women: providing innovative, quality beauty products which are primarily sold to women, through women. Founded in 1969, Natura is a Brazilian multinational in the cosmetics and personal care segment, leader in direct sales. Founded in 1976 in Brighton, England, by Anita Roddick, The Body Shop is a global beauty brand that seeks to make a positive difference in the world. The Australian beauty brand Aesop was established in 1987 with a quest to create a range of superlative products for skin, hair and the body.

Press Contact

Brunswick Group
NATURA&[email protected]

Tristan Bourassin: +1 (917) 200 8667

View original content:http://www.prnewswire.com/news-releases/natura-co-significantly-outperforms-global-cft-market-in-q3-with-strong-sales-growth-and-margin-improvement-301172432.html

SOURCE Natura &Co

November 12, 2020 5:34 pm

WeissLaw LLP Reminds ALAC, ALSK, TNAV, and EIGI Shareholders About Its Ongoing Investigations

PR Newswire

NEW YORK, Nov. 12, 2020 /PRNewswire/ —

If you own shares in any of the companies listed above and
would like to discuss our investigations or have any questions concerning
this notice or your rights or interests, please contact:

Joshua Rubin, Esq.

WeissLaw LLP
1500 Broadway, 16^th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
[email protected]

Alberton Acquisition Corporation (NASDAQ: ALAC)

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Alberton Acquisition Corporation (NASDAQ: ALAC) in connection with the company’s proposed merger with SolarMax Technology, Inc. (“SolarMax”). Under the terms of the merger agreement, ALAC will acquire SolarMax through a reverse merger, with SolarMax continuing as a publicly-traded company. If you own ALAC shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: http://www.weisslawllp.com/ALAC/

Alaska Communications Systems Group, Inc. (NASDAQ: ALSK)

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Alaska Communications Systems Group, Inc. (NASDAQ: ALSK) in connection with the proposed acquisition of the company by a consortium composed of Macquarie Capital and GCM Grosvenor pursuant to which, ALSK shareholders will receive $3.00 per share in cash for each share of ALSK common stock that they hold. If you own ALSK shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslawllp.com/ALSK/

Telenav, Inc. (NASDAQ: TNAV)

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Telenav, Inc. (NASDAQ: TNAV) in connection with the proposed interested-party acquisition of the company by V99, Inc., a corporation led by TNAV’s President and CEO HP Jin. Under the terms of the acquisition agreement, TNAV shareholders will receive $4.80 per share in cash for each share of TNAV that they hold. If you own TNAV shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslawllp.com/TNAV/

Endurance International Group Holdings, Inc. (NASDAQ: EIGI)

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Endurance International Group Holdings, Inc. (NASDAQ: EIGI) in connection with the proposed acquisition of the company by affiliates of Clearlake Capital Group, L.P. Under the terms of the acquisition agreement, EIGI shareholders will receive $9.50 per share in cash for each share of EIGI that they hold. If you own EIGI shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslawllp.com/EIGI/

View original content to download multimedia:http://www.prnewswire.com/news-releases/weisslaw-llp-reminds-alac-alsk-tnav-and-eigi-shareholders-about-its-ongoing-investigations-301172398.html

SOURCE WeissLaw LLP

November 12, 2020 5:34 pm

SHAREHOLDER ALERT: WeissLaw LLP Investigates Cancer Genetics, Inc.

PR Newswire

NEW YORK, Nov. 12, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Cancer Genetics, Inc. (“CGIX” or the “Company”) (NASDAQ: CGIX) in connection with the Company’s proposed merger with privately-held StemoniX, Inc. (“StemoniX”). Under the terms of the merger agreement, CGIX will acquire all of the outstanding capital stock of StemoniX in exchange for a number of shares of CGIX representing approximately 78% of CGIX’s outstanding common stock. The combined company will continue to trade on the NASDAQ, with StemoniX becoming a wholly-owned subsidiary of CGIX. Upon closing of the proposed merger, CGIX’s current stockholders will own just 22% of the combined company.

If you own CGIX shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

http://www.weisslawllp.com/CGIX/

Or please contact:

Joshua Rubin, Esq.

WeissLaw LLP
1500 Broadway, 16^th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
[email protected]

WeissLaw is investigating whether CGIX’s board acted in the best interest of CGIX’s public stockholders in agreeing to the proposed transaction, whether the deal’s equity split is fair to CGIX stockholders, and whether all information regarding the sales process undertaken by the board and financial analyses supporting the transaction is fully and fairly disclosed to CGIX’s public stockholders.

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]

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SOURCE WeissLaw LLP

November 12, 2020 5:34 pm

SHAREHOLDER ALERT: WeissLaw LLP Investigates Jaws Acquisition Corp.

PR Newswire

NEW YORK, Nov. 12, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Jaws Acquisition Corp. (“JWS” or the “Company”) (NYSE: JWS) in connection with the Company’s proposed merger with privately-held healthcare provider Cano Health, LLC (“Cano”). Under the terms of the merger agreement, JWS will acquire Cano through a reverse merger that will result in Cano becoming a public company traded on the New York Stock Exchange under the new ticker symbol “CANO.” The transaction is expected to have an enterprise value of approximately $4.4 billion on a pro forma basis.

If you own JWS shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

https://www.weisslawllp.com/JWS/

Or please contact:

Joshua Rubin, Esq.

WeissLaw LLP
1500 Broadway, 16^th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
[email protected]

WeissLaw is investigating whether JWS’s board acted in the best interest of JWS’s public stockholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of Cano, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to JWS’s public stockholders.

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SOURCE WeissLaw LLP

November 12, 2020 5:33 pm

Meritor and DTNA Extend Agreement to Provide Air Disc Brakes for Freightliner Cascadia® Trucks

Long-term Agreement for Air Disc Brakes Runs Through 2025

PR Newswire

TROY, Mich., Nov. 12, 2020 /PRNewswire/ — Meritor, Inc. (NYSE: MTOR) and Daimler Trucks North America (DTNA) today announced that Meritor^® EX+™ LS air disc brakes (ADB) will be standard on all-wheel positions on Freightliner Cascadia^® truck models through 2025. The award is part of a broader five-year extension of the current agreement with DTNA that includes Meritor’s axles, drivelines, drum brakes, industrial and aftermarket products for the North America market through 2027.

“DTNA’s decision to provide EX+ LS air disc brakes on its Freightliner Cascadia is a reflection of how well our brakes have performed and the positive feedback from its customers,” said Saad Malik, general manager for Meritor Front Drivetrain. “We’re proud to continue our partnership with a leading manufacturer of heavy-duty trucks in North America.”

“Meritor air disc brakes have been standard on Freightliner Cascadia trucks since 2018, complementing the best truck with the best components,” said Pete Hobbs, vice president of On-Highway Market Development for DTNA. “Meritor EX+ air disc brakes have exceeded our high expectations and, more importantly, the expectations of our customers. We are pleased to include Meritor’s latest ADB offering to our customers, and we are confident that the EX+ LS air disc brake will continue to impress our on-highway customers with the performance, safety and weight reduction they deliver.”

Per the new contract, the EX+ LS air disc brakes will be added to the Freightliner Cascadia with build dates beginning in the first quarter of 2021. Other Freightliner and Western Star trucks in the DTNA portfolio will also offer EX+ LS air disc brakes as an option.

The EX+ LS, Meritor’s lightest air disc brake, is designed specifically for linehaul and trailer applications in the North American market. Other features include:

Single-piston design validated to the same taper wear criteria as Meritor’s EX+™ L twin-piston brake
Enhanced piston seal to provide exceptional protection from heat exposure and debris
Adjuster mechanism offers reliable and consistent brake performance
MA9300 N-level proprietary friction with 2025 reduced copper compliance

Fleets with EX+ LS air disc brakes on their trucks and trailers benefit from commonality of parts because they can stock fewer parts, and replacement can be simplified by ordering through Meritor Aftermarket.

About Meritor
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 110-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Mich., United States, and is made up of more than 7,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company’s website at www.meritor.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/meritor-and-dtna-extend-agreement-to-provide-air-disc-brakes-for-freightliner-cascadia-trucks-301172431.html

SOURCE Meritor, Inc.

November 12, 2020 5:33 pm

PLx Pharma Inc. 2020 Third Quarter Financial Results and Business Update Conference Call Rescheduled to November 16, 2020

SPARTA, N.J., Nov. 12, 2020 (GLOBE NEWSWIRE) — PLx Pharma Inc. (NASDAQ: PLXP) (“PLx” or the “Company”), a late-stage specialty pharmaceutical company focused on developing its clinically-validated and patent-protected PLxGuard™ delivery system to provide more effective and safer products, VAZALORE™ 325 mg and VAZALORE™ 81 mg (referred to together as “VAZALORE”™), announced today that the Company has rescheduled its 2020 third quarter financial results call to Monday, November 16, 2020.

Natasha Giordano, President and Chief Executive Officer, and Rita O’Connor, Chief Financial Officer, will host a conference call to discuss the results and provide a business update as follows:

Date	Monday, November 16, 2020
Time	4:30 p.m. ET
Toll free (U.S.)	(866) 394-2901
International Conference ID	(616) 548-5567 2219797
Webcast (live and replay)	www.plxpharma.com under the ‘Investor Relations’ section.

A replay of the conference call will be available for two weeks after the call’s completion by dialing (855) 859-2056 (U.S.) or (404) 537-3406 (International). The conference ID for the replay is 2219797. The archived webcast will be available for 30 days via the aforementioned URL.

About VAZALORE

VAZALORE 325 mg is an FDA-approved liquid-filled aspirin capsule that provides patients with vascular disease and diabetic patients who are candidates for aspirin therapy with faster, reliable and more predictable platelet inhibition as compared to enteric-coated aspirin, while also reducing the risk of stomach erosions and ulcers, as compared to immediate-release aspirin, common in an acute setting. PLx is focused on collecting the data, including results from a bioequivalence study, required for post-approval manufacturing changes, which will be included in the sNDA filing for VAZALORE 325 mg and to support approval of low dose VAZALORE 81 mg.

About PLx Pharma Inc.

PLx Pharma Inc. is a late-stage specialty pharmaceutical company focused on developing its clinically validated and patent-protected PLxGuard™ delivery system to provide more effective and safer products. The PLxGuard delivery system works by targeting delivery of active pharmaceutical ingredients to various portions of the gastrointestinal (GI) tract. PLx believes this has the potential to improve the absorption of many drugs currently on the market or in development, and to reduce the risk of stomach erosions and ulcers associated with aspirin and ibuprofen, and potentially other drugs.

To learn more about PLx Pharma Inc. and its pipeline, please visit www.plxpharma.com.

Contact

Investor Relations:
Lisa M. Wilson, In-Site Communications, Inc.
T: 212-452-2793
E: [email protected]

November 12, 2020 5:33 pm

Shake® : The Creator Marketplace® – Opens for Business

Orlando, Florida, Nov. 12, 2020 (GLOBE NEWSWIRE) — IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of influencer marketing technology, data, and services for the world’s leading brands, today announced that transactions have been enabled for all registered Shake users. Buyers are now able to purchase digital services from sellers who are social media influencers, photographers, writers, musicians, and more. Creators are able to list available “Shakes” on their accounts in the platform and transact with interested buyers.

“We are thrilled to open the Shake marketplace for all buyers and sellers,” commented IZEA Founder, Chairman, and CEO Ted Murphy. “The launch of this platform underscores our commitment to developing technology that generates more opportunities for creators to collaborate with buyers and earn a living developing digital content. Shake will dramatically expand our buyer universe beyond the enterprise customers we serve today, opening the door for brands and agencies of all types and sizes to become part of the IZEA ecosystem. This is day one for Shake and the beginning of a much broader transformation for our company that will continue to unfold over the coming years.”

The Shake platform is aimed at digital creatives seeking freelance “gig” work. According to the Bureau of Labor Statistics, there are 1.6 million “gig economy” workers in the United States alone. Business Insider Intelligence data from December 2019 predicts that the influencer marketing industry as a whole is projected to reach $15 billion by 2022.

Key Information About Shake:

Creators First™ Pricing

IZEA’s standard transaction fee is 15% of the sale price, while competitor Fiverr has a combined take rate of 27% between buyer and seller fees. A minimal floor of $50 per listing vs. $5 on competing platforms is designed to ensure fair compensation for creators. The current average listing price is $1,642.

Curated Listings and Categories

Shake is focused on high quality digital services that are commonly offered by advertising agencies, media companies, and talent agencies. Listings are reviewed and curated in an effort to provide buyers with the best possible experience.

Individual and Commercial Content Licenses

Digital services can be offered as either personal or full commercial licenses, allowing creators to sell personalized video messages or even video conferences directly to their fan base.

Public Marketplace

In comparison to IZEA’s current platform which offers large enterprise customers access to IZEA’s private network of influencers and content creators, Shake is public. There is no subscription needed to see the creators who are interested in working directly with buyers.

Universal Accounts and Finances

IZEAx and Shake share a common user authentication service and financial backend, among other IZEAx technologies. Enterprise IZEAx customers can make purchases through Shake with their existing accounts and funds. Creators will also be able to use their funds earned in either IZEAx or Shake to hire other creators in the platform.

IZEA kicked off its broadest marketing effort ever today, starting with a social media influencer campaign powered by IZEA’s influencer marketing platform, IZEAx Unity Suite. Shake will also be promoted through a variety of paid media channels including Facebook, Instagram, TikTok, search, and display. Ads will feature select Shake listings and directly promote opportunities to collaborate with Shake creators.

Influencer Marketing Diversity Mandate

In tandem with the launch of the Shake campaign, IZEA has mandated that no less than 40% of the influencer sponsorships and paid promotions of Shakes are allocated to further promote diversity efforts by allocating marketing spend to non-white creators and those who are members of the LGBTQ community.

To become a buyer or seller in Shake visit shake.izea.com

About IZEA Worldwide, Inc.

IZEA Worldwide, Inc. (“IZEA”) is a marketing technology company providing software and professional services that enable brands to collaborate and transact with the full spectrum of today’s top social influencers and content creators. The company serves as a champion for the growing Creator Economy, enabling individuals to monetize their content, creativity, and influence. IZEA launched the industry’s first-ever influencer marketing platform in 2006 and has since facilitated nearly 4 million transactions between online buyers and sellers. Leading brands and agencies partner with IZEA to increase digital engagement, diversify brand voice, scale content production, and drive measurable return on investment.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “would” or other comparable terms. Examples of forward-looking statements include, among others, statements we make regarding expectations of sales activity, revenue and margins based on bookings, plans to increase the size of our sales team, the financial impact of investments in our software business, and continuation of new IZEAx customers and their effect on future sales.

Forward-looking statements involve inherent risks and uncertainties, which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors, including, among others, the following: competitive conditions in the content and social sponsorship segment in which IZEA operates; failure to popularize one or more of the marketplace platforms of IZEA; changing economic conditions that are less favorable than expected; and other risks and uncertainties described in IZEA’s periodic reports filed with the Securities and Exchange Commission. IZEA assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law.

Martin Smith
IZEA Worldwide, Inc.
Phone: 407-674-6911
Email: [email protected]