Stockwinners Market Radar for March 02, 2024 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

17:57 EST Moelis exec Raich sells 44,710 class A shares - In a regulatory filing, Moelis executive Jeffrey Raich disclosed the sale of 44,710 class A common shares of the company on February 29 at a price of $54.23 per share.

17:46 EST Lockheed Martin awarded $109.25M Navy contract - Lockheed Martin was awarded a cost-plus-fixed-fee $109.25M contract to support the integration of the Trident II, or D5, Missile and reentry subsystems into the Common Missile Compartment for the U.S./U.K. Columbia/Dreadnought submarine construction programs. Work is expected to be complete by February 28, 2029. FY24 shipbuilding and conversion funds in the amount of $80.92M and foreign funds in the amount of $28.33M, will be obligated at time of award. No funds will expire at the end of the current fiscal year. This contract is being awarded on a sole source basis under 10 U.S. Code 2304(c)(1) with one proposal received and was previously synopsized on the System for Award Management website. Strategic Systems Programs, Washington, D.C., is the contracting activity.

17:42 EST Lockheed Martin awarded $663.13M Navy contract modification - Lockheed Martin was awarded a $663.13M modification to a previously awarded cost-plus-fixed-fee, cost-plus incentive-fee, firm-fixed-price-incentive, firm-fixed-price contract. This modification adds scope to provide recurring logistics support, including ground maintenance activities, action request resolution, depot activation activities, automatic logistics information system operations and maintenance, reliability and maintainability, supply chain management, pilot and maintainer training, and training system sustainment in support of F-35 Lightning II Joint Strike Fighter Air Systems sustainment efforts for the Navy, Air Force, Marine Corps, Foreign Military Sales (FMS) customers, and non-U.S. Department of Defense participants. Work is expected to be completed in June 2027. FY24 operations and maintenance funds in the amount of $226.33M; FY24 operations and maintenance funds in the amount of $80.59M; FMS customer funds in the amount of $58,849; and non-U.S. DOD participant funds in the amount of $130.67M, will be obligated at the time of award, $306.91M of which will expire at the end of the current fiscal year. Naval Air Systems Command is the contracting activity.

17:36 EST S&P announces changes to S&P 600 index at open on 3/18 - Magnolia Oil & Gas (MGY), Air Lease (AL), Box (BOX), BGC Group (BGC), BlackLine (BL), Arch Resources (ARCH) and MGE Energy (MGEE) will replace America's Car Mart (CRMT), TrueBlue (TBI), Forrester Research (FORR), Oil States International (OIS), Digital Turbine (APPS), Consensus Cloud Solutions (CCSI) and iRobot (IRBT), respectively, in the S&P SmallCap 600 at the open on 3/18.

17:31 EST Medical Properties Trust to replace Applied Industrial Technologies in S&P 600 - The change will take place prior to the open on 3/18.

17:29 EST Applied Industrial Technologies to replace Medical Properties Trust in S&P 400 - The change will take place prior to the open on 3/18.

17:26 EST Intuit to replace Exelon in S&P 100 at open on 3/18 - Exelon is no longer representative of the mega-cap market space. Exelon will remain in the S&P 500.

17:24 EST Whirlpool to replace Supermicro in S&P 400 at open on 3/18

17:22 EST Supermicro to replace Whirlpool in S&P 500 at open on 3/18

17:12 EST Lockheed submits letter to acquire Terran Orbital for $1 per share in cash - According to a regulatory filing, Lockheed Martin (LMT) disclosed a 28.3% stake in Terran Orbital (LLAP) and, on March 1, 2024, submitted a letter to Terran outlining a non-binding proposal for Lockheed to acquire, in a merger transaction, all of the Common Stock for $1.00 per share in cash. The terms and signing of the Proposed Transaction remain subject to certain conditions, including completion of a due diligence review, negotiation and agreement of transaction structure and transaction documents, and approval of the Proposed Transaction by Lockheed and by Terran's board of directors and shareholders. No assurance can be given that definitive transaction agreements with respect to the Proposal will be entered into, the terms or conditions of any such agreements, or whether the Proposed Transaction will eventually be consummated. Lockheed does not intend to update additional disclosures regarding the Proposal unless and until a definitive agreement has been reached, or unless disclosure is otherwise required under applicable U.S. securities laws. If the Proposed Transaction is consummated, the Common Stock is expected to be delisted from the New York Stock Exchange and deregistered under the Act.

17:06 EST South State to delay filing Form 10-K - In a regulatory filing, the company said, "SouthState Corporation is filing this Notification of Late Filing on Form 12b-25 with respect to its Annual Report on Form 10-K for the year ended December 31, 2023. As previously announced on February 9, 2024, SouthState Bank, N.A. detected what was determined to be a cybersecurity incident on February 6, 2024. As part of its process to address the incident, SouthState proactively took measures to isolate parts of its network, which resulted in some disruption to its business processes, including those that serve as a conduit to exchange information and documents with its independent registered public accounting firm. As a result, the audit process was delayed by approximately nine days in performing required audit procedures. Accordingly, SouthState has determined that it is unable to file its Form 10-K within the prescribed time period without unreasonable effort or expense. The delay in the audit process as a result of the cyber incident is the sole reason the company requires additional time to file the Form 10-K. SouthState currently intends to file the Annual Report on Form 10-K within the 15-day extension period provided under Rule 12b-25 of the Securities Exchange Act of 1934, as amended."

16:29 EST Grocery Outlet names Lindsay Gray as interim CFO - In a regulatory filing, Grocery Outlet said, "On February 29, 2024, the board of directors of the Company appointed Lindsay Gray as Interim Chief Financial Officer of the Company, effective March 1, 2024, and she will continue to serve as Senior Vice President, Accounting of the Company. Gray will be the Company's principal financial officer during her interim service and will continue to be the principal accounting officer. The Board is continuing to conduct a formal search process for a permanent Chief Financial Officer with the assistance of a leading executive search firm. Gray has been the Company's Senior Vice President, Accounting since January 2023. She also served as the Company's Vice President, Corporate Controller from August 2016 to December 2022. Previously, Gray worked at Beverages & More, a U.S. specialty beverage retailer, including as Controller from August 2015 to August 2016 and as Director of Financial Reporting from November 2010 to August 2015."

16:22 EST Spirit AeroSystems confirms discussion with Boeing - Spirit AeroSystems Holdings (SPR) confirmed that it is currently engaged in discussions with Boeing (BA) about a possible acquisition of the company by Boeing. No assurances can be given that a definitive agreement will be entered into, that any transaction will be consummated, or the timing, terms or conditions of any such transaction. The Spirit Board of Directors and management team are committed to enhancing shareholder value and regularly review the company's opportunities to further this objective. Spirit does not intend to comment further on market speculation or disclose any developments unless and until it otherwise deems further disclosure is appropriate or required.

16:17 EST Boeing confirms 'preliminary discussions' with Spirit AeroSystems - Boeing (BA) issued the following statement: "We have been working closely with Spirit AeroSystems (SPR) and its leadership to strengthen the quality of the commercial airplanes that we build together. We confirm that our collaboration has resulted in preliminary discussions about making Spirit AeroSystems a part of Boeing again. We believe that the reintegration of Boeing and Spirit AeroSystems' manufacturing operations would further strengthen aviation safety, improve quality and serve the interests of our customers, employees, and shareholders. Although there can be no assurance that we will be able to reach an agreement, we are committed to finding ways to continue to improve the safety and quality of the airplanes on which millions of people depend each and every day."

16:13 EST Five Point Holdings names Mike Alvarado as COO - Five Point Holdings announced the appointment of Mike Alvarado as COO of the company, effective immediately. Alvarado will also continue to serve in his position as the company's Chief Legal Officer, Vice President and Secretary. Prior to joining the management company, Alvarado spent nearly 20 years at Allen Matkins Leck Gamble Mallory & Natsis LLP, a top-rated California-based law firm.

16:09 EST Trio Petroleum receives noncompliance letter from NYSE - Trio Petroleum announced that it received a deficiency letter from the NYSE American indicating that the company is not in compliance with the continued listing standards as set forth in Section 1003(f)(v) of the NYSE American company guide. Specifically, the Notice informed the Company that the NYSE American has determined that the shares of the Company's common stock have been selling for a low price per share for a substantial period of time, and pursuant to Section 1003(f)(v) of the company guide, the company's continued listing is predicated on it demonstrating sustained price improvement by no later than August 26.

16:06 EST Cipher Mining produces about 334 bitcoin in February - Cipher produced about 334 BTC in February amidst average monthly network hash rate increasing roughly 9.4%. As part of its regular treasury management process, Cipher sold about 33 BTC in February, ending the month with a balance of approximately 1,433 BTC.

16:00 EST Catcha Investment Corp trading resumes

15:55 EST Sun Communities raises quarterly distribution to 94c from 93c per share - Sun Communities announced its board of directors declared a quarterly distribution of 94c per share of common stock for the first quarter of 2024. The distribution is payable on April 15 to shareholders of record on March 29.

15:26 EST Regencell Bioscience Holdings Ltd trading halted, volatility trading pause

13:34 EST AAR completes acquisition of Triumph Group's Product Support business - AAR Corp. (AIR) announced that it has completed its acquisition of Triumph Group's (TGI) Product Support business, which it calls "a leading global provider of specialized maintenance, repair, and overhaul capabilities for critical aircraft components in the commercial and defense markets." AAR previously announced on December 21, 2023, that it had entered into a definitive agreement to acquire Triumph Group's Product Support business for an aggregate purchase price of $725M in cash, subject to customary adjustments. The transaction was financed with proceeds from AAR's previously announced $550M notes offering and borrowings under its amended revolving credit facility. "The completion of this acquisition scales AAR's repair capabilities, expands our footprint in the APAC region, and enhances our ability to serve our global customers. We're excited to welcome more than 700 team members from the Product Support business who bring expertise in key areas to the AAR team," said John Holmes, AAR's Chairman, President and CEO.

13:05 EST Subaru reports February U.S. sales up 3.1% to 47,189 vehicles - Subaru of America reported 47,189 vehicle sales for February, a 3.1% increase compared with February 2023 sales of 45,790 vehicles. "February also marked the 19th consecutive month of month-over-month sales increases for the automaker," SOA stated.

13:04 EST Baker Hughes reports U.S. rig count up 3 to 629 rigs - Baker Hughes reports that the U.S. rig count is up 3 from last week to 629 with oil rigs up 3 to 506, gas rigs down 1 to 119 and miscellaneous rigs up 1 to 4. The U.S. Rig Count is down 120 rigs from last year's count of 749 with oil rigs down 86, gas rigs down 35 and miscellaneous up 1. The U.S. Offshore Rig Count is up 1 to 21, up 5 year-over-year. The Canada Rig Count is unchanged from last week at 231, with oil rigs up 3 to 144, and gas rigs down 3 to 87. The Canada Rig Count is down 15 from last year's count of 246, with oil rigs down 14, and gas rigs down 1.

12:32 EST Interactive Brokers reports February DARTs up 15% y/y - Interactive Brokers Group reported its Electronic Brokerage monthly performance metrics for February. Brokerage highlights for the month included: 2.443 million Daily Average Revenue Trades, 15% higher than prior year and 11% higher than prior month. Ending client equity of $448.2B, 35% higher than prior year and 6% higher than prior month. Ending client margin loan balances of $47.4B, 21% higher than prior year and 7% higher than prior month. Ending client credit balances of $102.9B, including $3.9B in insured bank deposit sweeps, 5% higher than prior year and about even with prior month. 2.69 million client accounts, 24% higher than prior year and 2% higher than prior month. 206 annualized average cleared DARTs per client account. Average commission per cleared Commissionable Order of $2.85 including exchange, clearing and regulatory fees.

12:02 EST Honda reports February U.S. sales up 32.3% to 110,110 units - Honda said that the Honda brand topped 100,000 units in February, an increase of 38% month over month on robust sales of both cars and light trucks, while Honda electrified sales set a February record of 20,681 units.

12:00 EST Sweetgreen rises 29.7% - Sweetgreen is up 29.7%, or $3.78 to $16.52.

12:00 EST P10 falls -15.6% - P10 is down -15.6%, or -$1.45 to $7.82.

12:00 EST New York Community Bancorp falls -25.8% - New York Community Bancorp is down -25.8%, or -$1.24 to $3.55.

11:02 EST Spirit AeroSystems jumps 17% to $33.36 after trading resumes

10:57 EST Spirit AeroSystems jumps 6% to $30.08 after WSJ report of Boeing talks

10:46 EST EchoStar does not believe T-Mobile spectrum option will be exercised - EchoStar (SATS) disclosed last night in its annual filing that throughout 2023, it has was actively involved in negotiations with counterparties to obtain the financing necessary to exercise the 800 MHz purchase option for T-Mobile's (TMUS) airwaves. "However, we have been unsuccessful in our attempts to reach terms for a definitive financing agreement. Due to the relatively short time remaining before the 800 MHz purchase option's expiration on April 1, 2024, we no longer believe it is probable that we will exercise the option," the company said in the filing. EchoStar reduced the probability weighted value of the spectrum option to zero. As a result of the probability weighted derivative's fair value being zero during Q4 and the year ended December 31, 2023, it reduced a loss of $1.601B and $1.793B, respectively. Shares of EchoStar are down 7% to $12.15 following last night's earnings report.

10:23 EST HCM Acquisition Corp trading resumes

10:13 EST HCM Acquisition Corp trading halted, volatility trading pause

10:00 EST TDCX rises 14.8% - TDCX is up 14.8%, or 91c to $7.07.

10:00 EST Sweetgreen rises 30.1% - Sweetgreen is up 30.1%, or $3.83 to $16.57.

10:00 EST P10 falls -17.4% - P10 is down -17.4%, or -$1.61 to $7.66.

09:51 EST New York Community names Chief Risk Officer, Chief Audit Executive - New York Community Bancorp, announced the appointments of George Buchanan as Executive Vice President and Chief Risk Officer and Colleen McCullum as Executive Vice President and Chief Audit Executive, effective immediately. Executive Chairman, President and CEO, and the Company's largest individual shareholder, Sandro DiNello, stated, "Over the last three weeks since being appointed as Executive Chairman, the Company has taken swift action to improve all aspects of our operations. The leadership team identified the material weaknesses disclosed yesterday and has been taking the necessary steps to address them, including appointing new executives. Our allowance for credit losses considered these weaknesses and is not expected to change. The Company has strong liquidity and a solid deposit base, and I am confident we will execute on our turnaround plan to deliver increased shareholder value." Most recently, Buchanan served in Regions Bank's credit review area. Most recently, McCullum served as Chief Audit Executive at United Community Bank.

09:48 EST New York Community has 'strong liquidity,' solid deposit base, CEO says

09:47 EST New York Community expects 10-K to be filed within next 15 days

09:47 EST P10 falls -14.8% - P10 is down -14.8%, or -$1.37 to $7.90.

09:47 EST New York Community Bancorp falls -29.6% - New York Community Bancorp is down -29.6%, or -$1.42 to $3.37.

09:47 EST Sweetgreen rises 29.7% - Sweetgreen is up 29.7%, or $3.79 to $16.52.

09:44 EST MNC Capital submits proposal to acquire Vista Outdoor for $35.00 per share cash - MNC Capital Partners announced that on February 19, it submitted a proposal to acquire Vista Outdoor for $35.00 per share at which point Vista's closing share price was below $30.00 per share. MNC submitted a proposal on February 19, to which Vista Outdoor responded on February 26. MNC sent a follow up letter on February 28, to which Vista Outdoor responded on February 29, the firm announced in a press release. The letter that the firm released publicly stated in part: "We are writing to express our strong interest in acquiring all the outstanding shares of Vista Outdoor Inc. for a purchase price per share of $35.00 in cash. This proposed transaction is materially superior to the October 16, 2023 publicly announced sale of the Company's Sporting Products division, The Kinetic Group, to CZECHOSLOVAK GROUP a.s., and the separation of the Company's Outdoor Products division, Revelyst, Inc., into a public company. The Transaction would allow the Sporting Products business and its critical national security assets to remain under U.S. ownership and would create value certainty and enhanced sponsorship for the Outdoor Products business. The proposed price offers a substantial premium to Vista's share price, which already reflects a takeover premium. Given Vista's share price is currently trading close to its 52-week high, our proposal also reflects a highly attractive value overall to Vista's shareholders."

09:43 EST MNC Capital submits proposal to acquire Vista Outdoor for $35.00 per share cash

09:39 EST GW & Wade to join Focus partner firm The Colony Group - Focus Financial Partners has entered into a definitive agreement under which GW & Wade, headquartered in Wellesley, Massachusetts, will formally join fellow Focus partner firm The Colony Group. This transaction is expected to close in the first quarter of 2024, subject to customary closing conditions. The transaction merges GW & Wade's $10.4B in regulatory AUM as of 12/31/23, with Colony's $21.1B regulatory AUM as of 12/31/23. This also marks Focus' second signed intra-partnership merger as part of its new hub strategy. GW & Wade, led by Principals Roger Wade and Tim Pinch, joined Focus in 2007 and has been a stalwart of the Focus partnership for years. The firm has extensive expertise in tax planning, financial planning, asset management, retirement and estate planning. Following the merger, GW & Wade will operate as GW & Wade at The Colony Group.

09:38 EST ESGEN Acquisition Corp trading halted, volatility trading pause

09:33 EST BioLife Solutions trading halted, volatility trading pause

09:31 EST TG Therapeutics presents data from ULTIMATE I & II, ENHANCE trials - TG Therapeutics announced the presentation of data from the ULTIMATE I & II Phase 3 trials and the ENHANCE Phase 3b trial evaluating Briumvi in patients with relapsing forms of multiple sclerosis, or RMS, at the Americas Committee for Treatment and Research in Multiple Sclerosis, or ACTRIMS, annual forum, being held in West Palm Beach, Florida. Michael Weiss, CEO and chairman of TG Therapeutics stated, "We were pleased to present updated data from the ENHANCE trail evaluating patients switching from a current CD20 to BRIUMVI. It was encouraging to see that patients who switched to one-hour BRIUMVI experienced a manageable safety and tolerability profile. We look forward to continuing to present updated data from this trial throughout the year."

09:20 EST Diana Shipping announces time charter contract for m/v Crystalia - Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Louis Dreyfus Company Freight Asia Pte. Ltd., for one of its Ice Class Panamax dry bulk vessels, the m/v Crystalia. The gross charter rate is $13,900, minus a 5% commission paid to third parties, for a period of minimum twenty-one months to maximum twenty-five months. The charter is expected to commence during the second quarter of 2024. The "Crystalia" is a 77,525 dwt Ice Class Panamax dry bulk vessel built in 2014. The employment of "Crystalia" is anticipated to generate approximately $8.76 million of gross revenue for the minimum scheduled period of the time charter.

09:08 EST Vision Marine Technologies appoints Raffi Sossoyan as CFO - Vision Marine Technologies announced Raffi Sossoyan as its new CFO, effective March 1, 2024. His recent role as Vice President, Corporate Treasury at Velan, Inc., a Canadian multinational company listed on the Toronto Stock Exchange. Vision Marine also expresses deep appreciation to Kulwant Sandher for his outstanding leadership and dedication as the departing CFO.

09:07 EST SEALSQ Corp. to announce SEALCOIN 'Tockeneconomics' - SEALSQ announces the presentation of SEALCOIN "Tockeneconomics" during its Analyst & Investor Day, scheduled to be held on April 1, 2024, in NYC. "Tockeneconomics" refers to details on the SEALCOIN's quantity, value/price, benefits, release options and other protocols. Carlos Moreira, CEO of SEALSQ, noting the significance of this development to the Company's growth and mission, commented, "SEALSQ continues to be at the forefront of technological advancement and a global leader in semiconductor innovation. SEALCOIN and its Tockeneconomics will continue to push the boundaries of innovation, all while prioritizing the fostering of a safer and more interconnected world."

09:06 EST E-Home Household Service enters AI partnership with Touch Digital - E-Home Household Services announced that the company signed a strategic cooperation agreement with Touch Digital Technology Co. The two companies are cooperating in the areas of secure cloud storage of enterprise-grade unstructured data assets, enterprise AI brain based on enterprise-grade knowledge base training, AI housekeeping intelligent customer service, AI housekeeping intelligent robots, and enterprise digital transformation products and services.

09:05 EST CleanSpark announces February bitcoin mining update - Bitcoin mined in February: 648; CY2024 bitcoin mined: 1,225; Total bitcoin holdings as of February 29: 4,218; Total bitcoin sold in February: 2.8; Deployed fleet: 131,419; Month-end fleet efficiency: 24.68 J/Th; Current hashrate: 16 EH/s. Operating hashrate for the month averaged approximately 13.88 EH/s due to several weeks of rapid growth. Full value of month-end hashrate expected to be realized in March's monthly update. The company sold 2.8 bitcoin in February 2024 at an average of approximately $50,000 per bitcoin. Sales of bitcoin equated to proceeds of approximately $140,000. February daily bitcoin mined averaged 22.3 and reached a high of 25.2. "What a month this has been for us. Our teams have been hard at work and that work is paying off," said Zach Bradford, CEO. "Even though it was the shortest month of the year, we've dramatically increased our hashrate-growing 60% in the space of a few weeks. The result of that effort is that we have meaningfully outpaced global hashrate growth and are already seeing those gains in our monthly production. We mined almost 650 bitcoin this month and added most of it to our treasury, which now sits at almost $260 million when denominated in USD. All the while our fleet has grown even more efficient as we prepare for the halving and the positive impact of the supply shock as bitcoin works just as it was intended to. We expect to see additional gains in both hashrate and fleet energy efficiency in March as we rotate in additional new S21s and as our newly acquired facilities become 100 percent operational."

09:02 EST Hyundai Motor America reports February retail sales of 60,341 units, up 6% y/y - Hyundai Motor America reported record-breaking total February sales of 60,341 units, a 6% increase compared with February 2023. Hyundai set total sales records in February for Tucson (+8%), Tucson PHEV (+280%), Tucson HEV (+29%), Palisade (+16%), and Kona EV (+15%). Hyundai's eco-friendly vehicle sales grew 7%, while fleet volume was 8.3%. Hyundai also achieved record-breaking retail sales of 55,341, a 5% increase year-over-year. "Hyundai's sales of electric vehicles and plug-in hybrids are steadily rising, with significant year-over-year growth," said Randy Parker, CEO, Hyundai Motor America. "We take pride in the recognition our EV and plug-in hybrid models have received and remain committed to providing our customers with a diverse range of products."

08:53 EST Mallinckrodt: FDA approves sNDA for Acthar Gel Single-Dose SelfJect - Mallinckrodt announced that the U.S. Food and Drug Administration has approved Mallinckrodt's supplemental New Drug Application for the Acthar Gel Single-Dose Pre-filled SelfJect Injector, a new delivery device for Acthar Gel for appropriate patients with a range of chronic and acute inflammatory and autoimmune conditions. SelfJect is intended to provide the appropriate subcutaneous dose of Acthar Gel, as prescribed by a healthcare professional, and is designed to help give patients control of their administration.

08:50 EST Ancora issues letter Norfolk Southern chair regarding leadership - Ancora, who collectively own a large equity stake in Norfolk Southern, issued an open letter to the company's chair, Amy Miles. As a reminder, the investor group recently announced the nomination of eight highly qualified, independent candidates for election to the company's board of directors at the 2024 annual meeting of shareholders. In addition, the investor group announced it has identified a proposed management team that includes transportation network leader Jim Barber as CEO and lifelong railroad operator Jamie Boychuk as COO. The letter said; "Prior to publicly disclosing our slate of director candidates and proposed management team, the Investor Group spent more than two months privately providing you and your fellow directors with data and facts that demonstrated the urgent need for meaningful change at Norfolk Southern. We made clear that your current CEO has presided over industry-worst operating results, sustained share price underperformance and an ineffective and tone-deaf response to the preventable derailment in East Palestine, Ohio. We also exposed the impractical elements of management's go-forward strategy and spotlighted persistent issues with respect to safety, as evidenced by this year's new derailments and the recent death of an engineer. As these points were raised, we offered viable solutions in the form of exceptional people with a strategic vision for delivering better service, enhanced safety, improved growth and stronger value creation. We even offered to settle for minority representation on the Board in the event the Company initiated an orderly management change. Although we were initially disappointed with the Board's dismissiveness, the Company's recently filed proxy statement and ongoing low-road smear campaign against us have clarified a great deal. It appears that the Board is serving at the pleasure of CEO Alan Shaw - rather than the other way around. But with each passing day of disruptive fear mongering and transparently manufactured attacks on our people, we contend that current leadership is simply sealing its fate with the shareholders to whom it owes fiduciary duties... It is astonishing to us that the Board would reward Mr. Shaw with a 37% increase in the value of compensation to a total of $13.4 million for a year in which the Company's customers, employees, shareholders and community partners all suffered.1 This figure includes more than $10 million in stock and option awards, which were granted to Mr. Shaw even though he missed all six annual incentive targets pertaining to financial performance, customer service and safety.2 To add insult to injury, Mr. Shaw appears to be a major beneficiary of the "East Palestine Adjustment" that increased Performance Stock Unit payout percentages from 56% to 96.3% of target. We challenge the Board's determination that it had to adjust executive compensation in 2023 to "retain key talent."4 We do not see how the Board could have actually viewed Mr. Shaw as a flight risk. In addition to being a more than 30-year insider at Norfolk Southern, he was a relatively new, unproven CEO off to an extremely rocky start. The fact that this decision was made suggests concerning deference to management and a lack of respect for shareholders and stakeholders. While we recognize policymakers will not determine the outcome of the vote at the Annual Meeting, we are nonetheless surprised that the Board made a compensation decision that is a direct affront to President Joe Biden's recent comments about greed and a lack of accountability at Norfolk Southern.5 There are numerous examples of boards of directors taking the responsible step of reducing - not raising - executive pay following disasters. In situations we deem comparable to the East Palestine derailment, like BP p.l.c.'s 2010 oil spill and The Boeing Company's 737 MAX accidents, boards of directors typically terminate or hold the CEO accountable. To the contrary, Norfolk Southern's Board instead rewarded its CEO with a massive pay raise, elevating his compensation to more than 100x that of the median employee. II. Shareholders are concerned the Board is pursuing a scorched-earth campaign that involves poisoning the well with key stakeholders of the railroad. Norfolk Southern is a beacon of American commerce due to its exceptional employees, strong customer base and storied brand. This is one of the primary reasons why we were able to attract director candidates and proposed executives who have achieved tremendous success over the course of their careers in the public and private sectors. Amongst this collection of high-integrity individuals, there is a unanimous view that neither side should go into the gutter during an election contest. There was an assumption that the Company's Board, which includes highly respected individuals like Admiral Philip Davidson (retired) and Thomas C. Kelleher, would share our view. Unfortunately, you have not responded to our prior private letter that encouraged Norfolk Southern to avoid poisoning the well with valued stakeholders. You have also failed to address our concerns about the manner in which Norfolk Southern appears to be sending private planes to Washington, D.C. and misrepresenting our views to regulators. You, as Chair, and Mr. Shaw, as CEO, are no doubt aware that our published materials reveal no emphasis on cost cutting, headcount reductions or short-sighted tactics. To the contrary, our slate and proposed management team have repeatedly committed to pursuing stronger growth and implementing a network strategy that will leverage Norfolk Southern's existing assets. We find it extremely disingenuous for the Company to miscast our intentions, especially since Mr. Shaw stated during 4Q23 earnings that Norfolk Southern's "cost structure is too high."7... III. Shareholders want an election contest to be defined by facts and ideas. Please recognize that Norfolk Southern's shareholders, who seem to have no appetite for campaigns built on incessant smears, are the ones who will ultimately determine which slate is elected at the Annual Meeting. Please know that we are going to run a contest defined by a transparent articulation of facts and ideas. This means we are going to be publicly critical of leadership's business mistakes when they can be cited and documented. This also means we are going to be candid about our slate's transition plan and strategy, including their components and targets. To avoid destabilizing the Company more than it already has been over the past 12 months, we urge you to reduce your reliance on advisors and shadow games in favor of starting to run a high-road contest focused on track records and plans. And, to the extent you want to reengage with us about a settlement framework that accounts for Board refreshment and orderly management changes, we are here to have private conversations. Either way, you and your fellow directors owe it to Norfolk Southern and all of its stakeholders to run a campaign befitting of this great organization."

08:47 EST Lifeward says CMS defers final decision on pricing for personal exoskeletons - ReWalk Robotics announced that in CMS' February 29th HCPCS decision memorandum the pricing decision for personal exoskeletons is deferred to obtain more information about current exoskeleton pricing. CMS accepted that "between the original 2020 HCPCS application and the present, the previous model has been discontinued in favor of the current model that incorporates additional, clinically significant functionality," and the agency is open to gaining more information about pricing of the current exoskeleton model. CMS issues these HCPCS decision memorandums twice per year, so it is anticipated that a pricing decision would be made in the next cycle, if not earlier. Until pricing is published as part of this process, the amount paid by the Medicare Administrative Contractors for ReWalk system will continue to be made on a case-by-case basis as a lump-sum, as per the 2023 finalization of the Medicare benefit category. As of February 2024, a total of 35 ReWalk Personal Exoskeleton systems have been delivered to Medicare beneficiaries and will continue to be processed accordingly. "We set a goal many years ago to help individuals with spinal cord injury achieve broader access to technologies which enable them to walk again. We are disappointed with the delay, but will continue to operate under the established processing guidelines and will work diligently with CMS to support pricing considerations for the outstanding claims for stair-enabled ReWalk Exoskeleton," stated Larry Jasinski, CEO at Lifeward. "We ask that CMS move quickly to establish pricing so that individuals who have pursued this dream for years are able to experience the benefits of walking."

08:37 EST Kinnate Biopharma sells exarafenib to Pierre Fabre Laboratories - Kinnate Biopharma and Pierre Fabre Medicament announced their agreement to the sale of the company's investigational pan-RAF inhibitor, exarafenib, and other pan-RAF program assets pursuant to the APA entered into by the parties. The sale of global rights is in furtherance of the company's previously announced exploration of strategic alternatives. Under the terms of the APA, Pierre Fabre Laboratories has purchased exarafenib and other pan-RAF assets and will assume 100% of the ongoing program and costs associated with these assets. In consideration, Kinnate will receive a total consideration of up to $31M, consisting of $500,000 at closing, and a $30.5M payment, contingent upon the earlier of the dosing of the first patient in the first pivotal trial for exarafenib or any other acquired asset, or the application for an accelerated approval pursuant to the FDA's Accelerated Approval Program for exarafenib or any other acquired asset, or the submission of a marketing application for regulatory approval for exarafenib or any other acquired asset. In addition, Pierre Fabre Laboratories will assume up to $5M of trade payables for the transferred assets. The transaction is not subject to closing conditions and closed upon signing.

08:36 EST Splash Beverage appoints John Paglia to board of directors - Splash Beverage Group announced the appointment of John Paglia, Ph.D., CFA, CPA, NACD.DC to the Company's Board of Directors and Chair of Audit Committee, effective February 26, 2024. Paglia is a tenured Professor of Finance at the Pepperdine Graziadio Business School where he teaches graduate level classes on the topics of corporate finance, business valuation, and mergers and acquisitions

08:34 EST Kinnate Biopharma sells exarafenib to Pierre Fabre Laboratories - Kinnate Biopharma and Pierre Fabre Medicament announced their agreement to the sale of the Company's investigational pan-RAF inhibitor, exarafenib, and other pan-RAF program assets pursuant to the APA entered into by the parties. The sale of global rights is in furtherance of the Company's previously announced exploration of strategic alternatives. Under the terms of the APA, Pierre Fabre Laboratories has purchased exarafenib and other pan-RAF assets and will assume 100% of the ongoing program and costs associated with these assets. In consideration, Kinnate will receive a total consideration of up to $31 million, consisting of $500,000 at closing, and a $30.5 million payment, contingent upon the earlier of the dosing of the first patient in the first pivotal trial for exarafenib or any other acquired asset, or the application for an accelerated approval pursuant to the FDA's Accelerated Approval Program for exarafenib or any other acquired asset, or the submission of a marketing application for regulatory approval for exarafenib or any other acquired asset. In addition, Pierre Fabre Laboratories will assume up to $5 million of trade payables for the transferred assets. The transaction is not subject to closing conditions and closed upon signing.

08:31 EST X3 Holdings partners with semiconductor substrate provider - X3 Holdings proudly unveiled its strategic partnership with a leading provider of semiconductor modules and devices. This collaboration marks a significant advancement in the development of the global trade supply chain and compliance platform, specifically tailored for the semiconductor industry. This innovative platform, an integral part of the company's proprietary digital trade platform, is engineered to utilize the latest in big data, AI, cloud computing, blockchain, and 5G technologies. It is tailored to meet the sophisticated needs of the semiconductor sector, offering advanced digital applications and technology services that include efficient documentation processing, integrated data sharing for customs, tax, logistics, and transportation, and fostering collaboration across customers' global operations. The platform plays a critical role in streamlining the flow of materials and products across the entire supply chain, significantly boosting transparency and efficiency in both regional and international markets. This is poised to rapidly accelerate the growth and market expansion of the customers in the semiconductor industry. Under this partnership, X3 Holdings and the semiconductor substrate provider are joining forces to develop tailored digital solutions, focusing on enhancing supply chain applications and spearheading new business expansion initiatives. This collaboration includes a strategic plan to extend operations across Asia and North America.

08:19 EST Infosys, PROG Holdings announce collaboration - PROG Holdings (PRG) and Infosys (INFY) announced an agreement that is expected to evolve and scale PROG Holdings' technology operations as an integral part of the company's ongoing cloud- and AI-focused technology modernization and innovation efforts. The collaboration will enable PROG Holdings to take advantage of Infosys' digital services, including cutting-edge technologies, which PROG Holdings believes will help it realize operational efficiencies, accelerate technology enhancements, and improve speed to market. The relationship is also expected to enhance and innovate key PROG Holdings' customer-and partner-facing technologies and systems, helping to widen its leadership gap within the virtual lease-to-own market.

08:11 EST American Resources sets record date of March 6 for special dividend - American Resources has set a record and ex-dividend date to distribute a majority of the shares it holds in Novusterra Inc. via a special dividend to its underlying shareholders of record. It is anticipated that American Resources Corporation will own less than 10% of Novusterra Inc. common shares outstanding as of the date of this announcement after the special dividend. Shareholders who hold shares of American Resources Corporation common stock as of the close of business on the Record Date and through the end of stock market trading on March 6, 2024, and shareholders who purchase shares of American Resources common stock in the market and hold such purchased shares through the end of stock market trading on March 6th, 2024, will be eligible to receive the pro rata special dividend. Those who purchase American Resources Corporation shares after March 6, 2024 will not be eligible to receive the special dividend. American Resources Corporation has scheduled the special dividend to eligible stockholders to be distributed on March 14, 2024.

08:08 EST Immuneering announces near-term milestone expectations - IMM-1-104: Topline data from the Phase 1 portion of the Phase 1/2a clinical trial expected in March 2024. The update is expected to include data on the primary and secondary endpoints of the Phase 1 portion of the Phase 1/2a study, as well as PD, ctDNA, and initial clinical activity data. First patient expected to be dosed in the Phase 2a portion of the Phase 1/2a trial in March 2024. Initial data from multiple Phase 2a arms expected in 2024. Additional trial updates expected on a periodic basis. IMM-6-415: First patient expected to be dosed in the Phase 1 portion of the Phase 1/2a trial in March 2024.

08:07 EST Immuneering expects cash to fund operations into 2H25 - Based on cash, cash equivalents and marketable securities, as of December 31, 2023, and current operating plans, the Company expects its cash runway to be sufficient to fund operations into the second half of 2025.

08:06 EST Bone Biologics reports progress with NB1 clinical program - Bone Biologics reported progress with advancing its product candidate NB1 into human clinical testing for spinal fusion. Following Human Research Ethics Committee, or HREC, approval last year in Australia for the multicenter, prospective, randomized pilot clinical trial, the company reports that three hospital sites have been engaged to participate in the pilot clinical trial. This pilot clinical trial will evaluate the safety and effectiveness of NB1 in 30 adult subjects who undergo transforaminal lumbar interbody fusion to treat degenerative disc disease. Inclusion criteria include patients with DDD at one level from L2-S1 who may also have up to Grade 1 spondylolisthesis or Grade 1 retrolisthesis at the involved level. The study design was previously reviewed and agreed upon by the Division of Orthopedic Devices in a Pre-submission to support progression to a pivotal clinical trial in the United States.

08:05 EST BorgWarner names Amy Kulikowski as Chief Accounting Officer - BorgWarner (BWA) announced that Amy Kulikowski has been appointed Vice President and Chief Accounting Officer. Kulikowski reports directly to Craig Aaron, whose appointment as CFO is effective March 1. Kulikowski comes to BorgWarner with more than 25 years of experience in finance and accounting, most recently with Cooper-Standard Holdings (CPS) as its Chief Accounting Officer.

08:03 EST Ashford says compliance plan accepted by NYSE American - Ashford announced that the NYSE American has accepted the company's plan of compliance for continued listing on the exchange. On February 27, the company received notice from the NYSE American that it had accepted the company's plan and granted a plan period through June 20, 2025. During the plan period the company will be subject to quarterly review to determine if it is making progress consistent with the plan. If the company does not regain compliance with the NYSE American listing standards by June 20, 2025, or if the company does not make sufficient progress consistent with its plan, then the NYSE American may initiate delisting proceedings.

07:49 EST Atlantica Sustainable Infrastructure says strategic review 'ongoing'

07:48 EST Dominion says 'committed to dividend at current level' - "Expect to maintain the current dividend level of $2.67 per share annually until such time as we achieve our targeted payout ratio ("60s percent range")."

07:36 EST FuboTV sees Q1 U.S. paid subscribers 1.42M-1.44M - For Q1 in the U.S., Fubo is forecasting 1.42M-1.44M paid subscribers, representing 11% YoY growth at the midpoint, and $365M-$375M total revenue, representing 17% growth at the midpoint. For Q1 rest of world, the company is forecasting 380,000-385,000 paid subscribers, representing 1% growth at the midpoint, and $6.6M-$8.6M total revenue, representing a 2% decline at the midpoint. Gandler continued: "The results for the fourth quarter and full year 2023 demonstrate that Fubo continues to execute on our long-term strategy and that we are well positioned to capitalize on our aggregated and curated sports-centric entertainment offering, leveraging the evolving trends across the media and consumer landscape. These results are especially impressive given the years-long challenges Fubo has faced as a result of what we believe have been anticompetitive practices by The Walt Disney Company, FOX Corp. and Warner Bros. Discovery. As evident in the antitrust lawsuit we filed against these parties last month, their proposed sports streaming joint venture is only the latest example of the pernicious practices they have inflicted to suppress our business and harm consumers. We are asking for an opportunity to compete fairly as a business, and to offer consumers a streaming option that gives them the channels they want, and at a fair price. Going forward, despite these challenges, consumers should still expect a compelling sports-centric entertainment offering, and investors should expect Fubo to continue to execute well against our stated business objectives."

07:31 EST Talphera reduces size of board to seven from ten directors - Talphera announced as part of its commitment to operating with best practices in corporate governance, its Board of Directors has decided to reduce the size of the Board from ten to seven directors. Three directors, Howard Rosen, Richard Afable and Pamela Palmer have voluntarily agreed to resign from the Board of Directors, effective immediately. Dr. Palmer will continue in her current role of Chief Medical Officer and member of the executive leadership team, with a focus on successfully completing the Niyad registrational study later this year.

07:13 EST GameSquare to sell Complexity Gaming to Global Esports Properties for $10.36M - GameSquare Holdings has sold its esports team NextGen Tech d/b/a Complexity Gaming to Global Esports Properties, an investor group led by Complexity's founder and CEO Jason Lake for total consideration of $10.36M. GameSquare and Complexity signed a Membership Interest Purchase Agreement dated as of March 1, 2024, and the transaction is anticipated to close shortly upon the satisfaction of a closing condition to receive TSXV approval for the transaction. Under the terms of the Membership Interest Purchase Agreement, Global Esports has agreed to pay GameSquare an aggregate of approximately $10.36M for Complexity's assets and intellectual property including Complexity's esports team. Global Esports will pay GameSquare $0.75M upon closing of the transaction. In addition, GameSquare and Global Esports have entered into a 3-year seller financed note of approximately $9.61M, which accrues annual interest of 3.0% to be paid to GameSquare in a balloon payment at the end of the term. GameSquare will also have the right to receive 50% of the proceeds from any equity raised by Global Esports in excess of $500,000 that will be credited against the outstanding principal balance of the seller financed note. As announced on January 2, 2024, GameSquare entered into a principal $5.8M. The Convertible Debenture is convertible at the holder's option into common shares of GameSquare at a price of $5.00 per share. As requested by the TSX Venture Exchange, GameSquare confirms that the anti-dilution provisions in the Convertible Debenture are subject to a $3.00 floor price.

07:11 EST Fury completes consolidation of interests at Eleonore South gold project - Fury Gold Mines (FURY) announced the completion of the previously announced agreement whereby Fury has purchased Newmont Corporation's (NEM) 49.978% interest in the Eleonore South gold project in Quebec, along with Newmont's 30,392,372 shares of Sirios Resources. The Sirios shares have been acquired for investment purposes and Fury will evaluate its investment in Sirios on an ongoing basis with respect to any possible additional purchases or dispositions. The Sirios shares represent 10.9% of its issued shares and Fury will file an Early Warning Report.

07:07 EST Highwoods Properties signs leases totaling 129,000 square feet at 23Springs - Highwoods Properties announced that leases totaling another 129,000 square feet have been signed at 23Springs, a Class AA development encompassing 626,000 square feet of multi-customer office and 16,000 square feet of retail in the heart of the dynamic Uptown Dallas BBD. The Company is developing 23Springs in a 50/50 joint venture with Granite Properties. The total anticipated investment for 23Springs is expected to be approximately $460M. Construction of 23Springs, which is now 53% pre-leased, began in the second quarter of 2022 with a scheduled completion date in the first quarter of 2025 and a pro forma stabilization date in the first quarter of 2028. 23Springs is designed with a commitment to sustainability and wellness and is pursuing LEED and Fitwel certifications.

07:06 EST Bitfarms mines 300 bitcoin in February - February 2024 Select Operating Highlights: 6.5 EH/s online as of February 29, 2024, up 38% from February 28, 2023, and unchanged from January 31, 2024. 6.1 EH/s average online, up 3.4% from January 2024. 49.2 BTC/average EH/s, down 18.8% from 60.6 in January 2024. 300 BTC earned, 16% lower than January 2024 and 22% lower than February 2023. 10.3 BTC earned daily on average, equal to approximately $648,900 per day based on a BTC price of $63,000 at February 29, 2024. Geoff Morphy, President and Chief Executive Officer of Bitfarms, said, "As a critical component to our growth, we are executing well against our transformational fleet upgrade and our target of 21 EH/s by year-end 2024. We expect the upcoming deliveries of more high efficiency Bitman T21 miners to begin operating at our Quebec farms in March. Based on the installation schedule, we anticipate an immediate 8% increase in hashrate to 7 EH/s and 11% improvement in energy efficiency to 31 w/TH."

07:04 EST Li Auto hosts 2024 Spring Launch Event - Li Auto hosted its 2024 Spring Launch Event and officially launched Li MEGA, its high-tech flagship family MPV. As the Company's first high-voltage battery electric vehicle, Li MEGA provides big families with a blend of energy replenishment experience as efficient as traditional ICE vehicle refueling, next-generation design and exceptionally low drag coefficient, roomy and comfortable space, flagship-level performance and safety features, and superior intelligent experience. At the event, the Company also launched its 2024 Li L7, Li L8, and Li L9 models, which further enhance product capabilities through upgrades in the range-extension system, chassis system, safety features, comfort configurations, and vehicle intelligence to better meet the needs of family users. Deliveries of Li MEGA and 2024 Li L7, Li L8, and Li L9 will commence in March 2024.

07:03 EST Shenandoah to sell Tower Portfolio to Vertical Bridge for $310M - Shenandoah Telecommunications Company has entered into a Purchase and Sale Agreement with Vertical Bridge Holdco to sell its tower portfolio and operations to Vertical Bridge for $310.3M in cash. The Transaction is subject to customary closing conditions. Vertical Bridge will pay Shentel the $310.3M purchase price on the date of the initial closing. Subsequent closings will occur as closing conditions are met for any remaining sites. The Company expects an initial closing in March 2024. The Company expects to pay up to $10M in 2024 income taxes as a result of the gain on the sale after utilization of net operating loss carryforwards. The Shentel Tower Portfolio being sold consists of 226 tower portfolio sites and generated $18.6M in revenue, $9.5M of operating income and $11.6M of Adjusted EBITDA2 in 2023.

07:01 EST Old Republic declares quarterly dividend of 26.5c per share - Old Republic announced its Board of Directors has declared a regular quarterly cash dividend of 26.5c per common share. This dividend is payable on March 21 to shareholders of record on March 11. Subject to Board approval of each quarter's new rate, the full year's cash dividend will amount to $1.06 per share compared to 98c paid in 2023, an 8.2% increase.

06:47 EST AMC Entertainment names Sonia Jain to Board of Directors - AMC Entertainment Holdings (AMC) announced that the company's Board of Directors has elected Sonia Jain to the AMC Board of Directors, effective March 1. Jain will serve as a Class III director of the company with a term expiring at the company's 2026 Annual Meeting of Stockholders, and at that meeting will stand for re-election thereafter. She will serve as a Member of the Audit Committee. Jain currently serves as CFO of Cars.com (CARS).

06:35 EST TDCX enters merger agreement for going-private transaction - TDCX announced that it has entered into a definitive Agreement and Plan of Merger with Transformative Investments Pte Ltd, an exempted company with limited liability incorporated under the laws of the Cayman Islands, and Helium, an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly-owned subsidiary of Parent, pursuant to which the Company will be acquired by Laurent Junique, Founder, Executive Chairman, Director, CEO of the company and his affiliates in a transaction implying an equity value of the company of approximately $1.037B. The members of the Buyer Group currently beneficially own, in the aggregate, approximately 86.1% of all the issued and outstanding shares, representing approximately 98.4% of the aggregate voting power of the Company. Parent and the Buyer Group members have entered into rollover and contribution agreements, pursuant to which (i) Parent has irrevocably agreed to contribute its shares in the Company to the Merger Sub prior to the closing of the Merger in exchange for newly issued ordinary shares of Merger Sub, and (ii) certain other Buyer Group members and their affiliates have irrevocably agreed to contribute their respective shares in the Company to the Merger Sub prior to the closing of the Merger in exchange for newly issued ordinary shares of Parent. Subject to the terms and conditions of the Merger Agreement, the Merger Sub will merge with and into the Company through a "short-form" merger in accordance with Part XVI and in particular section 233(7) of the Companies Act of the Cayman Islands, with the Company surviving the Merger as the surviving company and becoming a direct wholly-owned subsidiary of Parent as a result of the Merger. The Merger is currently expected to close in the second quarter of 2024. If completed, the Merger will result in the company becoming a privately-owned company wholly-owned directly by Parent, its ADSs will no longer be listed on the New York Stock Exchange, and the ADS program will be terminated.

06:13 EST Genesis Energy provides update on availability of 2023 Investor Tax Packages - Genesis Energy provided an update on the expected availability of the partnership's 2023 Investor Tax Packages, including Schedule K-1 for its common unitholders. Historically, Genesis' Investor Tax Packages have been available by early March for the preceding tax year. However, the timing of the availability of Genesis' 2023 Investor Tax Packages is dependent upon actions of the U.S. Congress and the Biden administration with regard to the passage, or not, of the Tax Relief for American Families and Workers Act of 2024. H.R. 7024 was passed by the House of Representatives on January 31, 2024 and is now among the legislative items that the U.S. Senate may or may not consider prior to its next recess scheduled for late March 2024. This legislation includes changes in tax law which would be applied retroactively to the 2023 tax year. As passed by the House of Representatives, certain provisions in H.R. 7024 would lower Genesis' taxable income for 2023 compared to existing tax law. H.R. 7024 is subject to the legislative process, which may include amendments introduced by the Senate and thus reconciliation of this bill between the House of Representatives and the Senate, and is also subject to the ultimate approval by the President. Due to the ongoing consideration of H.R. 7024 by Congress and thus the uncertainty of the ultimate tax laws applicable to tax year 2023, Genesis currently expects that its 2023 Investor Tax Packages, including Schedule K-1 and all information to fiduciaries for common units owned in tax exempt accounts, will be delayed in comparison to previous years and will be available by March 30, 2024. Once the applicable tax laws for 2023 are known and finalized by the passage, or not, of H.R. 7024, Genesis will provide an update on the availability of the 2023 Investor Tax Packages. While these matters are beyond our control, we apologize for any inconvenience the timing of this pending tax legislation may cause our partners.

06:10 EST Cannae Holdings to purchase up to $200M of its common stock - Cannae Holdings announced the commencement of a tender offer to purchase up to $200M in aggregate purchase price of its outstanding shares of common stock, par value $0.0001 per share, or such lesser aggregate purchase price of the Securities as are properly tendered and not properly withdrawn, at a single per-Security price not greater than $23.75 nor less than $20.75 per share to the seller in cash, less any applicable withholding taxes and without interest. The Offer will expire at 12:00 Midnight, New York City time, at the end of the day on April 1, unless the Offer is extended or earlier terminated.

06:01 EST Everbridge enters amended merger pact with Thoma Bravo - Everbridge and Thoma Bravo announced that they have amended and restated the previously announced merger agreement, dated February 4, 2024. Under the terms of the amended and restated agreement, Thoma Bravo has increased the price at which it has agreed to acquire all outstanding shares of Everbridge to $35.00 per share in cash, or $6.40 per share higher the original transaction price. The per share purchase price consideration values Everbridge at approximately $1.8B and represents an approximately 62% premium to the Everbridge 90-day volume-weighted average share price as of February 2, 2024, the last trading day prior to the announcement of the original merger agreement. "We're pleased to have negotiated an even higher price for our shareholders," said David Henshall, Chairman and Lead Independent Director of the Everbridge Board of Directors. "The interest we received as part of the go-shop process is a testament to the exceptional company we've built, the significant value of our products for organizations all over the world, and Everbridge's long-term growth potential." The transaction, which was approved by the Everbridge Board of Directors, is expected to close in the second calendar quarter of 2024, subject to customary closing conditions, including approval by Everbridge shareholders and the receipt of required regulatory approvals. The transaction is not subject to a financing condition. Upon completion of the transaction, Everbridge common stock will no longer be listed on any public stock exchange. The Company will continue to operate under the Everbridge name and brand.

05:54 EST Fisker intends to reduce workforce by approximately 15% - Fisker expects its capital expenditures and working capital requirements to decrease during 2024 and beyond as it enters the second year of Ocean production. The company's business plan is highly dependent on the successful transition to its new Dealer Partner model in 2024. Furthermore, to the extent Fisker's current resources are insufficient to satisfy its requirements over the next 12 months, the company will need to seek additional equity or debt financing, and there can be no assurance that Fisker will be successful in these efforts. If the financing is not available, or if the terms of financing are less desirable than Fisker expects, the company may be forced to decrease its planned level of investment in product development, scale back its operations including further headcount reductions, and reduce production of the Fisker Ocean, which could have an adverse impact on the company's business and financial prospects. As a result, the company expects to conclude there is substantial doubt about its ability to continue as a going concern when its annual financial statements for the year ended December 31, 2023, are filed with the SEC. To address potential liquidity issues, Fisker is already taking action. The company is currently in discussions with an existing noteholder about potentially making an additional investment in the company. The use of proceeds, if a transaction is consummated, is expected to be for general corporate purposes, vehicle production and the ongoing transition to a dealer-focused sales model. In addition, Fisker intends to reduce its workforce by approximately 15%. Headcount reductions are predominantly related to the change in sales strategy from direct-to-consumer to a Dealer Partner model. In addition, the company is streamlining operations, including reducing its physical footprint and overall expenses.

05:09 EST XPeng delivers 4,545 Smart EVs in February - XPeng announced its vehicle delivery results for February. In February, XPeng delivered 4,545 Smart EVs. Deliveries of XPeng X9 reached 1,448 units, with nearly 4,000 units of X9 delivered in the first two months of its launch, achieving a leading position in the electric MPV segment as well as in the three-row seater BEV segment. With the capacity ramp-up and the debottlenecking of certain components' supply post-Chinese New Year, the company will accelerate the delivery of the X9 in March.