Stockwinners Market Radar for May 03, 2024 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:50 EDT OLB Group Inc trading halted, news pending

18:02 EDT FG Acquisition Corp. announces proposed acquisition of Strong/MDI Screen Systems - FG Acquisition Corp. and Strong Global Entertainment are pleased to announce the proposed acquisition of Strong/MDI Screen Systems by FGAC, pursuant to an acquisition agreement dated May 3, 2024 between FGAC, Strong Global, MDI, FGAC Investors LLC and CG Investments VII Inc. The MDI Acquisition, together with the launch of FGAC's new investment platform, will constitute FGAC's qualifying acquisition. In connection with the closing of the MDI Acquisition, the Corporation intends to rename itself Saltire Holdings. Saltire intends to build and grow a portfolio of profitable and cash-flow generating private equity investments that would not otherwise be available to public market investors through its proprietary origination process, to maximize its intrinsic value on a per-share basis over the long-term by seeking to achieve superior investment performance commensurate with reasonable risk.

17:57 EDT Qualcomm CTO Thompson sells 8,000 common shares - In a regulatory filing, Qualcomm CTO James Thompson disclosed the sale of 8,000 common shares of the company on May 3 at a price of $182 per share.

17:40 EDT Whirlpool details costs for workforce reduction plans - In a regulatory filing, Whirlpool disclosed that, as previously disclosed in the company's quarterly report for the quarter ended March 31, the company committed to global workforce reduction plans in March 2024. The First Quarter Workforce Reduction Plans were an effort to reduce complexity and simplify the company's organizational model after the European major domestic appliance transaction, which was completed on April 1. The First Quarter Workforce Reduction Plans included involuntary severance actions and employee notifications in March 2024. Total costs for these actions were $23M, of which the company incurred $14M in employee termination costs and $9M in other associated costs within Q1. During Q2, the company evaluated additional restructuring actions as part of the company's complexity reduction and organizational simplification efforts. On April 29, the company began the employee notification process for an additional global workforce reduction plan, including involuntary severance actions. Total expected costs for actions under the Second Quarter Workforce Reduction Plans are an estimated $52M-$57M, primarily in employee termination costs, which Whirlpool expects to incur within Q2 of 2024. The company expects total restructuring charges of approximately $75M-$80M for FY24, reflecting amounts under the First Quarter Workforce Reduction Plans and Second Quarter Workforce Reduction Plans. The company expects these workforce reduction actions to be substantially complete in 2024. As such, the company estimates that it will incur a total of approximately $63M-$67M in employee termination costs and approximately $13M in other associated costs in 2024, and expects substantially all of the costs to result in cash expenditures in 2024.

17:36 EDT American Oncology Network CFO Dave Gould to step down - American Oncology Network announced that Dave Gould will step down as CFO, effective May 17 to pursue other opportunities. AON has appointed David Afshar, a seasoned public company executive, to fulfill the responsibilities of interim CFO, effective May 20. AON has initiated a process for a new CFO.

17:31 EDT Adtran sees $293M impairment charge related to goodwill - According to a regulatory filing, in connection with the preparation of its consolidated financial statements for the first quarter of 2024, Adtran determined that factors such as a decrease in the company's market capitalization, cautious service provider spending due to economic uncertainty and continued customer inventory adjustments triggered a quantitative impairment assessment of the company's reporting units. Based on this assessment, on May 3, 2024, the company determined that the carrying value of its Network Solutions segment exceeded its fair value and a material charge for impairment to goodwill will be required for the first quarter of 2024. As a result, the company expects to record a material impairment charge in an estimated amount of $293M related to the company's goodwill during the three months ended March 31, 2024. The impairment leads to an increased GAAP operating loss for the first quarter 2024 by the same amount. It will not, however, result in any current or future cash expenditure, and it has no impact on the company's GAAP revenue and non-GAAP operating margin guidance for the first quarter of 2024. Additionally, the charge has no impact on the company's compliance with covenants under its credit agreement.

17:20 EDT Aaon to replace Vistra in S&P 400 at open on 5/8

17:15 EDT Newbury Street Acquisition receives noncompliance letter from Nasdaq - Newbury Street Acquisition announced that it received a letterfrom Nasdaq indicating that the company was not in compliance with Nasdaq listing rule 5250(c)(1), which requires the timely filing of all required periodic financial reports with the Securities and Exchange Commission. The required filing in question is the Company's Annual Report on Form 10-K for the year ended December 31, 2023.

16:53 EDT Zentek announces resignation of COO Dr. Francis Dube - Zentek announces the following changes to its board and management teams: (i) Dr. Francis Dube has resigned as COO of the company effective May 1, and (ii) Brian Bosse has resigned as a director of the company effective May 3, and has been appointed to the company's advisory board.

16:35 EDT Bakkt announces 13% workforce reduction - In a regulatory filing, Bakkt disclosed that on May 2, the company announced a reduction in force that is expected to result in the termination of 28 employees, which represents approximately 13% of the company's non-call center, full-time workforce. The reduction in force is a component of a broader strategic review of the company's operations that is intended to more effectively align resources with business priorities. Substantially all of the employees impacted by the reduction in force were notified of the reduction on May 2, and will exit the company in the second quarter. The company estimates that it will incur expenses in a range of $0.8M-$1M related to the reduction in force, substantially all of which will relate to employee severance and benefits costs and will be recognized in the second quarter.

16:16 EDT CNO Financial raises quarterly dividend to 16c from 15c per share - CNO Financial Group announced that its Board of Directors has approved a 1c per share increase in its quarterly dividend, its twelfth consecutive annual increase. The Board declared a quarterly cash dividend of 16c per share on the company's common shares. The dividend will be payable June 24 to shareholders of record at the close of business on June 10.

16:07 EDT Quantum provides updated plan to regain compliance with Nasdaq - Quantum provided an update related to the company's efforts to become current with its SEC financial reports. In advance of the scheduled hearing, Quantum submitted a written submission to Nasdaq on April 24 detailing its plans to regain compliance with the applicable Nasdaq listing criteria within the period of time that the Panel may grant. Among other details, the updated plan outlines the company's progress and coordination with its advisors and auditors toward reaching the Company's final determination with regards to the application of ASC Topic 606. Additionally, the written submission includes an updated timeline for the company to regain compliance with the filing of Quantum's Quarterly Reports on Form 10-Q for the second and third quarters of fiscal year 2024 as well as file its fourth quarter and full fiscal year 2024 results by June 27.

16:06 EDT Tennant announces senior leadership changes - Tennant announced it has made changes to its senior leadership team to support its enterprise growth strategy. Barb Balinski will provide dedicated executive oversight to the company's business process transformation initiative as the company's Senior Vice President, Chief Transformation Officer; Pat Schottler will move into a new role focused on product innovation and disruptive technologies as the company's Senior Vice President, Chief Marketing and Technology Officer

15:21 EDT Redwire awarded study contract for DMA 3 of NASA's Mars program - Redwire has been awarded a study contract for Design Reference Mission 3 of NASA's Mars Commercial Services program, which outlines a commercial imagery mission to support lower-cost, higher-frequency missions to the Red Planet. While currently in a study phase, the program will eventually expand into service contracts for products from operational assets. This commercial model has already been successfully deployed through the CLPS program and has the potential to result in dramatically lower cost of access to Mars. "Commercial access to Mars is a necessary step in humanity's expansion into space as industry solutions dramatically lower the cost of missions, setting the stage for more frequent robotic access and eventual human presence," said Kari Abromitis, Redwire Senior Project Engineer. "Redwire is thrilled that NASA is taking this commercial approach to exploration, as they did with the CLPS program, in order to empower US industry leadership in deep space. Redwire's eventual imagery of the Red Planet will result in better science and mission planning, as well as awe-inspiring views of our solar system." In the commercial services concept being developed by Redwire, Redwire will own the mission's spacecraft and sell imagery data products to NASA and other government or commercial entities to help foster a Mars economy. Once deployed, Redwire's spacecraft will immediately bring value to customers and help drive the expansion of Mars surface activities. Redwire's high resolution imagery can be used to support observational science investigations, landing site selection and hazard assessment, change detection, and monitoring and planning for surface assets.

14:22 EDT Paramount down 3% after Variety says neither Sony, Skydance deal seen being done

13:07 EDT Rubric Capital urges Xperi stockholders to vote for its nominees - Rubric Capital Management, an investment advisor whose managed funds and accounts collectively own approximately 9.0% of the outstanding shares of common stock of Xperi, issued the following statement in response to Xperi's recently updated investor presentation in connection with its 2024 Annual Meeting of Stockholders. The letter read, in part, "As longtime stockholders of Xperi, we have tolerated many things. Years of underperformance. Poor transparency. Excessive compensation. Wanton spending on 'science projects.' But we cannot tolerate the twisting of financial realities to present falsified versions of share performance and dilution to investors. That is a bridge too far...Xperi doesn't seem to understand why Rubric is seeking new representation on the Board. We are doing so because since the spin-off, it is apparent that the Xperi Board has set stockholders and insiders on two different paths. It is also clear to us that the path for stockholders is currently typified by investment losses and margin and growth disappointment, while the other path, for insiders, is one of personal enrichment based on tenure at the expense of stockholders. Rubric wants the paths of stockholders and insiders to align so that both can share in the benefit of an improved Xperi, and we are confident that electing Thomas A. Lacey and Deborah S. Conrad can help achieve this. That's what this proxy contest is about."

12:33 EDT Regencell Bioscience Holdings Ltd trading resumes

12:23 EDT Regencell Bioscience Holdings Ltd trading halted, volatility trading pause

12:03 EDT Critical Metals Corp trading halted, volatility trading pause

12:01 EDT Summit Midstream rises 19.0% - Summit Midstream is up 19.0%, or $5.34 to $33.50.

12:00 EDT Custom Truck One Source falls -17.0% - Custom Truck One Source is down -17.0%, or -83c to $4.07.

12:00 EDT Owens & Minor falls -21.7% - Owens & Minor is down -21.7%, or -$5.31 to $19.20.

11:19 EDT Johnson & Johnson announces updated results from Cohort 2 of SunRISe-1 study - Johnson & Johnson announced updated results from Cohort 2 of the Phase 2b SunRISe-1 study evaluating the efficacy and safety of investigational TAR-200 monotherapy in patients with BCG-unresponsive high-risk non-muscle-invasive bladder cancer, or HR-NMIBC, with carcinoma in situ, who are ineligible for, or decline, radical cystectomy. These data were featured today in a plenary session at the 2024 American Urological Association Annual Meeting, or AUA, taking place May 3-6, the company noted. Results included an evaluation of 85 patients who received TAR-200 monotherapy. The centrally confirmed complete response, or CR, rate was 82.8% by urine cytology and/or biopsy. The study protocol did not allow retreatment for nonresponders, consistent with U.S. Food and Drug Administration guidance. The estimated 1-year duration of response, or DOR, rate is 74.6%, with median follow-up in responders of 29.9 weeks; 41 of 48 responders, or 85%, remain in CR at data cutoff as of January 2, 2024, and none of the responders progressed to muscle-invasive bladder cancer or metastasis. Ninety-eight percent, or 47 of 48, of CRs were achieved at first disease assessment at week 12, and four of five patients who have completed two years of treatment remain in CR. "The investigator-assessed confirmed CR rate correlated strongly with central results," the company stated.

10:07 EDT Mobile-Health Network Solutions trading halted, volatility trading pause

10:00 EDT Re/Max Holdings rises 22.6% - Re/Max Holdings is up 22.6%, or $1.62 to $8.78.

10:00 EDT Custom Truck One Source falls -14.5% - Custom Truck One Source is down -14.5%, or -71c to $4.19.

10:00 EDT Owens & Minor falls -18.8% - Owens & Minor is down -18.8%, or -$4.61 to $19.90.

09:48 EDT XPO, Inc rises 11.1% - XPO, Inc is up 11.1%, or $12.08 to $121.00.

09:47 EDT WideOpenWest rises 24.6% - WideOpenWest is up 24.6%, or 93c to $4.72.

09:47 EDT Trump Media auditor charged by SEC with 'massive fraud' - The Securities and Exchange Commission charged audit firm BF Borgers CPA PC and its owner, Benjamin F. Borgers, with deliberate and systemic failures to comply with Public Company Accounting Oversight Board, or PCAOB, standards in its audits and reviews incorporated in more than 1,500 SEC filings from January 2021 through June 2023. The SEC also charged the respondents with falsely representing to their clients that the firm's work would comply with PCAOB standards; fabricating audit documentation to make it appear that the firm's work did comply with PCAOB standards; and falsely stating in audit reports included in more than 500 public company SEC filings that the firm's audits complied with PCAOB standards. To settle the SEC's charges, BF Borgers agreed to pay a $12M civil penalty, and Benjamin Borgers agreed to pay a $2M civil penalty. Both respondents also agreed to permanent suspensions from appearing and practicing before the Commission as accountants, effective immediately. Borgers was the auditing firm for Trump Media and he share price of Trump Media, which owns the Truth Social app, is down 6% in early trading on Friday. Reference Link

09:47 EDT Custom Truck One Source falls -18.8% - Custom Truck One Source is down -18.8%, or -92c to $3.98.

09:36 EDT Ancora board candidate sends letter to Norfolk Southern shareholders - Ancora, which owns a large equity stake in Norfolk Southern, issued the below letter from James Barber, Jr., who is one the seven unaffiliated candidates the firm is seeking to elect to the company's 13-member board of directors at the annual meeting of shareholders on May 9. "I appreciate that many of you are evaluating what my colleagues and I have said in recent weeks about moving Norfolk Southern forward. Both sides have obviously sent you a lot of information to consider and digest before votes are cast at the Annual Meeting. Rather than ask you to read another long letter, I'm writing to you to share just a few personal thoughts on why I want to be part of the railroad's turnaround and what I plan to deliver for you and the other constituents. When Ancora approached me in 2023 about serving as a proposed director and its suggested CEO, I spent a lot of time independently analyzing Norfolk Southern and considering whether my skills could speed up a turnaround. I am blessed to be able to be selective at this point in my life, and I don't have any unfulfilled goals in my career after 35 great years at UPS. This enabled me to take my time assessing Norfolk Southern's challenges and opportunities from the perspective of each of the Company's key constituents: shareholders, customers, employees, regulators and the communities that trains run through each day. After thinking everything through and reflecting on the transferability of my experiences, I knew I could help move this great brand in the right direction - whether that be as a director, CEO or both. In terms of what our slate wants to deliver, it starts with a culture of accountability, integrity, safety, sustainability and teamwork - all of which underpin highly-efficient and service-oriented logistics companies. These priorities are core to our three-year strategy for initiating a network redesign and implementing true Precision Scheduled Railroading ("PSR"). This strategy, which is distinct from Norfolk Southern's resilience model, involves laying a foundation that positions proven operators to deliver quantifiable improvements in three primary areas: Service - Transitioning to a true scheduled network will dramatically increase on-time delivery for customers, leading to more trust and more high-margin revenue over time. The Company's Merchandise Trip Plan Compliance has dramatically underperformed the Surface Transportation Board's 82% compliance target for years. This weak service has nothing to do with the East Palestine derailment, but rather maintaining a poorly designed network with excess assets and lax scheduling. Fortunately, our strategy provides a roadmap for getting Trip Plan Compliance well above the federal compliance target in the coming quarters. Safety - A true scheduled network will allow Norfolk Southern's most valued asset, its people, to return home in the same condition they report to work in while also reducing catastrophic incidents that absorb shareholder capital and hinder the brand. In terms of KPIs, we will target a decline in severe derailments and a reduction in the number of reported accidents relative to total network activity. Although accidents periodically occur, Norfolk Southern's current resilience model has led to the industry's most costly and severe derailments over the past two-and-a-half years. Safety isn't a buzzword to me, but an output of tangible policies that are deeply ingrained in an organization. Our strategy accounts for concrete initiatives that will cut down on train switches, decrease dangerous train congestion, and reduce burnout and hours unpredictability. Shareholder Value - I am a true believer that the organization with the best network wins for all constituents. With our scheduled network in place, Norfolk Southern will have a transparent path to balancing service and safety enhancements with operating ratio and share price improvements. A redesigned network powered by PSR will benefit from a permanent reduction in assets, delays and touch points. As assets come out of the network, we will rely on annual attrition (not job cuts or furloughs) to right size our workforce. All of this should ultimately translate to approximately $1.1 billion in annualized savings and an operating ratio in the mid-to-high 50s. When we first hit the road in this campaign, it was clear some of the Company's constituencies would need to be convinced about what our slate brings to the table. After all, it's not enough to diagnose problems and speak in broad terms about solutions. On a personal level, one of the most rewarding parts of this contest has been earning the belief of the BLET Teamsters and BMWED Teamsters. As a former Teamster, I'm incredibly grateful for the opportunity to earn their support. My goal is to bring this same spirit of constructive thinking and teamwork to Norfolk Southern and its boardroom. Thank you again for your consideration and time, and we will reward you and all the constituents for a vote of confidence in us. We look forward to delivering the best results possible for you."

09:19 EDT Digital Brands announces exercise of warrants for $3.2M in gross proceeds - Digital Brands Group announced the entry into a definitive agreement for the immediate exercise in cash of certain outstanding warrants to purchase an aggregate of 1,027,750 shares of the Company's common stock at a reduced exercise price of $3.13 per share. The exercised warrants are comprised of Series A and Series B warrants originally issued by the Company on September 5, 2023, each having an exercise price of $9.43 per share. The Series A warrants have a term of five and one-half years and the Series B warrants have a term of fifteen months. The shares of common stock issuable upon exercise of the warrants are registered pursuant to an effective registration statement on Form S-1. The closing of the warrant exercise transaction is expected to occur on or about May 7, 2024, subject to satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. In consideration for the immediate exercise of the warrants for cash, the Company will issue new unregistered Series A-1 warrants to purchase up to 1,027,750 shares of common stock and new unregistered Series B-1 warrants to purchase up to 1,027,750 shares of common stock. The new Series A-1 and Series B-1 warrants will have an exercise price of $2.88 per share. The new Series A-1 warrants will be exercisable immediately upon issuance for a period of five and one-half years from the date of issuance and the Series B-1 warrants will be exercisable immediately upon issuance for a period of fifteen months from the date of issuance. The gross proceeds to DBG from the exercise of the warrants are expected to be approximately $3.2 million, prior to deducting placement agent fees and offering expenses. The Company intends to use the net proceeds from this offering for working capital purposes.

09:10 EDT Rivian Automotive enters into REV tax credict pact with state of Illinois - In a regulatory filing, the company states: "On May 2, 2024, Rivian Automotive, LLC, and Rivian, LLC, subsidiaries of Rivian Automotive, Inc., and the State of Illinois acting by and through the Department of Commerce and Economic Opportunity entered into a REV Tax Credit Agreement, effective as of April 29, 2024. Pursuant to the Agreement, the Company agreed to renovate and expand its existing manufacturing operations at 100 North Rivian Motorway, Normal, Illinois, 61761 , make capital expenditures of at least $1,515,428,945 within 60 months from the date the Agreement is executed, and by December 31, 2029, create a minimum of 559 full-time new-jobs above the existing statewide Illinois employment baseline of 8,587 at the Project with such jobs paying annual wages equal to or greater than 120% of the average wage paid to full-time employees in a similar position within an occupation group in the county where the Project is located. The Company also agreed to retain a minimum of 6,000 existing full-time jobs in Illinois. As consideration for and as a condition to the Company Commitments, the Company is eligible for an incentives package valued at up to $827 million, including tax credits and exemptions, and grants to offset eligible costs of the Project. Tax credits will be eligible for issuance for an initial period of 15 years, with an opportunity for an additional fifteen-year extension."

09:03 EDT Capital Power reports voting results from 2024 Annual Meeting - The annual meeting of shareholders for Capital Power Corporation was held on April 30, 2024 in Edmonton, Alberta. The total number of shares represented by shareholders present in person and by proxy at the annual meeting was 56,762,324 representing 43.96% of the Company's common shares that were issued and outstanding as of the record date of the annual meeting. Each of the 9 director nominees put forward by management were elected by a vote conducted by way of ballot. The appointment of KPMG LLP, Chartered Accountants, to serve as the auditors of the Corporation until the close of the next Annual Meeting of the Shareholders of the Corporation, at remuneration to be fixed by the Directors on the recommendation of the Audit Committee, was approved by a show of hands. Proxies representing 56,571,724 votes for and 190,598 votes withheld were received. On an advisory basis and not to diminish the role and responsibility of the board of directors, the approach to executive compensation disclosed in the Corporation's Management Proxy Circular was approved by a show of hands. Proxies representing 55,387,163 votes for and 1,234,217 votes against were received. The amendment of the Omnibus Long Term Incentive Plan to increase the aggregate number of common which may be issued under the Plan from 9,194,506 to 11,194,506 common shares, was authorized and approved as an ordinary resolution by a show of hands. Proxies representing 54,699,224 votes for and 1,922,156 votes against were received.

08:58 EDT Conduent to sell Casualty Claims Solutions business to MedRisk for $240M - Conduent announced an agreement to sell its Casualty Claims Solutions business to MedRisk. The sale, for $240M in cash, subject to customary adjustments, consists of Conduent's workers' compensation and auto casualty bill review solutions and services that includes the processing of medical bills and clinical services, and its portfolio of Strataware bill review software products. In 2023, the business, with approximately 100 clients across multiple markets, processed approximately 29M medical bills. As part of this transaction, current Conduent employees in the Casualty Claims Solutions business will join MedRisk. Conduent will continue to provide mailroom services for current casualty claims clients including MedRisk. The transaction is expected to close in the third quarter of 2024, subject to the satisfaction of customary closing conditions and regulatory approvals.

08:51 EDT Sunoco LP completes acquisition of NuStar Energy - Sunoco (SUN) announced the completion of the acquisition of NuStar (NS). The merger was approved by NuStar unitholders at its Special Meeting held on May 1. Effective as of the opening of markets on May 3, NuStar's common units ceased trading on the New York Stock Exchange.

08:37 EDT Royalty Management provides business update post merger completion - Royalty Management Holding Corporation is providing a business update post its completion of the S-4 merger and provide a business update with focus on opportunistic growth and value creation events. Some select, key highlights thus far in 2024: The company operates under a low-cost, low overhead model to expand its business enabling the Company to utilize cash flow from operations to expand its business or take advantage of accretive opportunities. RMC Environmental Services revenues for the month of April 2024 alone has covered 100% of the expenses for the division for the entire year. On a cash basis, the Company's monthly corporate expenses ranges from $41,000 to $65,000, with majority of previous expenses related to the merger and no longer recurring. Revenues for the last two months have exceeded cash operational costs. Cash flow generated from operations will be used for new investments, stock buybacks and/or dividend depending on share value. The Company has no funding obligations or term notes over the next year that require additional capital. Over the next six months, it is anticipated that additional revenue streams will be expanding to provide additional free cash flow. Over the next year, it is anticipated that at least one of our portfolio companies will have an exit either through sale or IPO. As a result of lower cash in trust, and thus resulting in less shares outstanding, the Company is focusing on the highest value, most accretive opportunities it has available, which may result in the current forecasts differing from the previous forecasts identified in the filed Form S-4 statement.

08:36 EDT Western Alaska Minerals announces upsize to non-brokered private placement - Western Alaska Minerals announced that, further to its news releases dated April 18, 2024 and April 22, 2024 and April 26, 2024, due to significant demand, the Company has increased the size of the Company's previously announced non-brokered private placement from up to C$1.5 million to up to C$2.5 million. Under the upsized Offering, the Company will issue up to 3,846,154 units of the Company at a price of $0.65 per Unit, for aggregate gross proceeds of up to C$2.5 million. Each Unit will be comprised of one subordinate voting share in the authorized share structure of the Company plus one Share purchase warrant. Each Warrant will entitle the holder thereof to purchase one Share at an exercise price of $0.90 per Warrant Share for 36 months from the date of issuance. The Units issued pursuant to the Offering will be subject to a four month hold period. The net proceeds of the Offering will be used to fund the Company's 2024 exploration program, including step-out drilling at the LH and Warm Springs target zones that are new targets identified by the 2023-completed geophysical program, and for general corporate purposes. Closing of the Offering is expected to occur on or about May 8, 2024, and is subject to certain customary conditions, including, but not limited to, the receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange.

08:34 EDT Eos Energy announces approval of all proposals at 2024 Annual Meeting - Eos Energy Enterprises announced the results of its Annual Stockholders' Meeting, which was conducted virtually. The Company is pleased to report that stockholders approved the election of Marian "Mimi" Walters and Jeffrey McNeil as Class I directors of Eos Energy Enterprises, Inc., each to serve for three years and until his/her successor has been elected and qualified, or until his/her earlier death, resignation or removal. Their combined experience and strategic vision are critical as the Company scales its operations and pursues its path toward profitability. Eos stockholders voted to ratify the selection of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024, with 99.39% of the participating shares voting in favor. Eos stockholders voted to approve a non-binding advisory resolution approving the compensation of the named executive officers with 57.15% of the participating shares voting in favor. The Company plans to implement changes to its long-term incentive plan to better align its compensation of employees with the performance of the Company. Eos stockholders voted to approve an increase in the authorized shares of common stock of the Company from 300,000,000 to 600,000,000 with 67.04% of all outstanding shares of capital stock entitled to vote in favor. Of those stockholders who voted, 89.30% were in favor of this proposal. The increase in authorized shares allows the Company to have the necessary resources in place to meet corporate needs and maintain financial flexibility to support its strategic outlook plan and long-term objectives. Eos stockholders voted to approve an amendment to the Company's long-term incentive plan with 56.53% of the participating shares voting in favor. The increase in shares available for the Company's incentive plan will support the Company's on-going efforts to attract and retain the employee talent necessary for the Company to execute on its strategic objectives.

08:32 EDT Inozyme reports inducement grants under Nasdaq listing rule - Inozyme Pharma announced that it granted stock options to one new employee to purchase shares of the Company's common stock, pursuant to the Company's 2023 Inducement Stock Incentive Plan, as an inducement material to the new employee entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4). The Company's compensation committee granted nonstatutory stock options to purchase up to an aggregate of 20,000 shares of the Company's common stock to the one new employee on May 1, 2024, at an exercise price of $4.61 per share, the closing price per share of the Company's common stock as reported by Nasdaq on May 1, 2024. The options have a 10-year term and vest over four years, with 25% of the original number of shares vesting on the first anniversary of the employee's start date and 2.0833% of the shares underlying the option vesting monthly thereafter, subject to such employee's continued service to the Company through the applicable vesting dates.

08:11 EDT DriveItAway secures credit line for $2M in financing - DriveItAway Holdings announced the closing of a $2M credit line funding from Auto Leasing II, led by a noted national leader in the vehicle rental industry. The Philadelphia-based company will use the capital to accelerate growth, particularly in its electric car fleet, to get more EVs and PHEVs into the hands of regular people who can most use the advantages of lower fuel and maintenance costs that electric vehicles provide. The company has found that many people are hesitant to make any financial commitment to purchase or lease an EV vehicle right from the start, but with its unique micro-lease to ownership platform, where no long-term financial commitment is required to drive an EV for any extended time and is as transparent and easy as hitting a button on the DriveItAway app, it paves the way for many to try, and then buy now, very economically priced slightly used EV vehicles.

08:05 EDT Haoxi Health Technology entered into a Framework Contract with Yiya Dental - Haoxi Health Technology announced that Beijing Haoxi Digital Technology, a wholly-owned subsidiary of the Company, entered into a Framework Contract for Cooperation on Information Placement on Media Platforms on April 28, 2024 with Wuhan Yiya Simei Dental Clinic, Yiya Dental, a regional dentistry chain in China. This partnership underscores the Company's capabilities in delivering internet marketing solutions. Pursuant to the Framework Contract, Haoxi Beijing has agreed to provide comprehensive advertising services on popular social media platforms for Yiya Dental, through various forms of media, including short-video, text, images, flash, as well as mobile app contents. During the term of the Framework Contract, Yiya Dental expects the total amount of cooperation fees for advertising to be no less than RMB40 million, or $5.5 million, subject to the actual advertising service orders and agreements between the parties.

08:03 EDT Applied Digital appoints Gale as Chief Development Officer - Applied Digital announced that Todd Gale has been appointed as Chief Development Officer, effective May 3, 2024. Previously, Gale served as Vice President of Engineering at Flexential.

08:01 EDT WideOpenWest receives unsolicited non-binding preliminary roposal - WideOpenWest has received an unsolicited non-binding preliminary proposal from DigitalBridge Investments and various Crestview entities to purchase all of the outstanding shares of Wow! that Crestview does not currently own for $4.80 per share in cash. The WOW Board of Directors intends to establish a special committee of independent directors to evaluate the proposal.

07:33 EDT Crown Castle appoints Moskowitz as CEO - Crown Castle announced that it has posted an investor presentation in connection with its 2024 Annual Meeting of Stockholders scheduled for May 22, 2024. Shareholders of record as of the close of business on March 28, 2024, are entitled to vote at the Annual Meeting. The Crown Castle Board of Directors issued the following statement: "The Crown Castle Board and management team are taking decisive actions to drive sustainable and robust shareholder value creation. We have appointed Steven Moskowitz as our new CEO, who is a proven executive with extensive expertise in the tower industry, and we made substantial progress on a Board-led strategic and operating review of the Company's fiber and small cell business. As a result of these strategic steps, we are creating a stronger, more valuable Crown Castle. We are confident this is the right Board to oversee Crown Castle and the execution of its strategy. Our director nominees are highly qualified with valuable experience to help Crown Castle maximize shareholder value. In addition, four of our nominees, who bring leadership, financial, and tower industry expertise, have been appointed in the past year, reflecting Crown Castle's proactive refreshment process. We believe Ted Miller's top priority is to regain control of Crown Castle and its Board - and his continued self-serving antics are more likely to jeopardize the clear progress underway than constructively contribute to it. Mr. Miller has repeatedly demonstrated that he is not aligned with the interests of all shareholders. In stark contrast, we are confident our current Board is best positioned to deliver on our objectives and enhance value for shareholders."

07:22 EDT Alta Global highlights Warrior Training Program partnership with SBG Ireland - Alta Global Group highlighted the success of its partnership with SBG Ireland, spearheaded by Alta co-founder John Kavanagh. This collaboration, initiated in 2017, has transformed SBG Ireland into a top martial arts destination in Dublin and beyond. Prior to implementing the Alta Warrior Training Program, SBG Ireland, the home of renowned MMA coach John Kavanagh and Conor McGregor, struggled to attract non-professional athletes. This changed dramatically with the introduction of the Alta Warrior Training Program, which has since brought over 700 new members to the gym. The success of the Warrior Training Program extends beyond SBG Ireland's flagship location in Inchicore. Today, the program operates in multiple gyms across Ireland, including SBG Charlestown, Drogheda, Clonmel, and Cork, further demonstrating its effectiveness and appeal. With some programs at SBG Ireland hosting over 100 participants per Warrior Training Program, SBG Ireland has significantly outperformed the average participation rates and gross revenue from Alta programs globally, which over the last three fiscal years has averaged 24 participants per program and an average $24,000 gross revenue per program.

07:16 EDT El Pollo Loco sees FY24 capex $25M-$28M - The company is providing 2024 guidance: "The opening of two new company-owned restaurants and five to seven new franchised restaurants. Capital spend of $25.0 - $28.0 million. G&A expense between $45.0 and $47.0 million excluding one-time charges."

07:15 EDT Ecarx releases multiple intelligent driving features for Skyland Pro - ECARX Holdings announced the launch of multiple intelligent driving and safety features for its Skyland Pro computing platform, which significantly enhance the intelligent driving experience. The new features were previewed during ECARX's second Tech Day, which was held in Hangzhou on March 20, 2024, and were released for the first time in the recent version 1.4.0 update for the "Lynk Co-Pilot Navi" smart navigation assistance system on Lynk & Co. 08 EM-P. Leveraging the power of Skyland Pro's dual system-on-a-chip architecture, the update included a number of L2+ assisted driving and parking features, including highway Navigate-on-Autopilot, Automatic Parking Assist, and Remote Parking Assist.

07:14 EDT Galera Therapeutics adopts limited duration stockholder rights agreement - Galera Therapeutics announced that its Board of Directors has unanimously resolved to adopt a limited duration stockholder rights agreement to protect stockholder interests. The Board resolved to adopt the Rights Agreement in response to recent accumulations of the Company's common stock and the Rights Agreement is intended to enable all Galera stockholders to realize the full potential value of their investment in the company and to protect the interests of the company and its stockholders by reducing the likelihood that any person or group gains control of Galera without paying an appropriate control premium. In addition, the Rights Agreement provides the Board with time to make informed decisions that are in the best long-term interests of Galera and its stockholders. It does not deter the Board from considering any offer or proposal that is fair and otherwise in the best interest of Galera stockholders. In connection with the Rights Agreement, Galera will issue, by means of a dividend, one preferred share purchase right for each outstanding share of Galera common stock to stockholders of record as of the close of business on May 20, 2024. Initially, these rights will not be exercisable and will trade with, and be represented by, the shares of Galera common stock. The Rights Agreement has an expiration date of May 2, 2025, and the Board will consider whether to terminate the Rights Agreement earlier than such date if warranted.

07:12 EDT Werewolf Therapeutics sees cash runway through at least 1Q26 - As of March 31, 2024, cash and cash equivalents were $139.2 million, compared to $134.3 million as of December 31, 2023. The Company also had restricted cash and cash equivalents of $21.2 million as of both March 31, 2024 and December 31, 2023, of which $20.0 million became unrestricted upon the repayment of the Pacific Western Bank loan. The Company believes its existing cash and cash equivalents at March 31, 2024, together with cash impacts of the loan refinancing, will be sufficient to fund operational expenses and capital expenditure requirements through at least the first quarter of 2026.

07:06 EDT Uniti Group to merge with Windstream Holdings II - Uniti Group has entered into a definitive agreement to merge with Windstream Holdings II. Under the terms of the agreement, which have been unanimously approved by both companies' Board of Directors, upon closing, Uniti shareholders will hold approximately 62% of the outstanding common equity of the combined company and Windstream shareholders will hold approximately 38% of the outstanding common equity. The merger combines Uniti's national wholesale owned fiber network with Windstream's fiber-to-the-home business to create a premier insurgent fiber provider in the U.S. We believe the combined company, with its scaled facilities-based infrastructure platform, will be uniquely positioned within Tier II and III markets throughout the U.S. The merger of Uniti and Windstream combines Uniti's national wholesale owned network with Windstream's FTTH business. The combined company will initially serve over 1.1 million customers and 1.5 million existing homes passed with a particularly strong presence in the Midwest and Southeast. Uniti will be well-positioned in the large and growing market for digital infrastructure services, particularly in Tier II and III markets, with a highly defensible market position as a first mover fiber builder. The combined company expects to benefit from an enhanced free cash flow profile, with the ability to expand its FTTH build by up to 1 million additional households. The transaction is expected to be free cash flow accretive following close and will realize additional free cash flow accretion as synergies are achieved. The combination is expected to remove several dis-synergies which exist in the current landlord/tenant relationship, as well as any potential risk to the renewal of the master leases scheduled to occur in 2030. It also aligns the two companies' capital allocation objectives to improve focus and drive results. The combination is anticipated to generate up to $100 million of targeted annual opex synergies and $20-$30 million of targeted annual capex savings within 36 months of closing. Net leverage at year-end 2023 for the combined company is 4.8x, which is a significant improvement over Uniti's year-end net leverage of 6.0x, with growth and free cash flow generation expected to improve the combined company's leverage trajectory over time. Both companies' current debt silos are expected to initially remain in place following closing. With a scaled national platform and high-quality fiber portfolio, the additional value creation from this transaction greatly increases Uniti's optionality for strategic initiatives. Under the terms of the agreement, Uniti shareholders will receive approximately 62% of the outstanding common equity of the combined company. Windstream shareholders will receive $425 million of cash, $575 million of preferred equity in the new combined company, and common shares representing approximately 38% of the outstanding common equity of the combined company. Windstream shareholders will additionally receive non-voting warrants to acquire up to 6.9% of common shares of the combined company. Uniti expects to fund the $425 million of cash consideration to shareholders of Windstream from operations, revolver borrowings and/or future capital markets transactions. Certain of Windstream's largest shareholders, including Elliott, which is also a current holder of Uniti's equity and debt, will be rolling substantially all of their investment value in Windstream into the combined company. The transaction structure allows both companies' existing debt structures to remain in-place at closing, reducing financing requirements and costs. The merger is expected to close in the second half of 2025, subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals and approval by Uniti shareholders.

06:34 EDT AdvanSix still expects 2024 CapEx $140M-$150M - Expects Q2 ammonium sulfate sequential pricing improvement amid continued sulfur demand growth and tight North American supply, expects balanced to tight global acetone supply and demand conditions and nylon industry spreads to modestly improve through 2024 off 2023 trough levels.