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Category: Economy

  • MIL-OSI Africa: Samaila Zubairu of Africa Finance Corporation (AFC) Succeeds Prof. Benedict Oramah of Afreximbank to Lead the Alliance of African Multilateral Financial Institutions (AAMFI)

    Source: Africa Press Organisation – English (2) – Report:

    ADDIS ABABA, Ethiopia, February 24, 2025/APO Group/ —

    The Alliance of African Multilateral Financial Institutions (AAMFI), also known as the Africa Club, has announced the appointment of Samaila Zubairu as its new Chairperson.

    Mr. Zubairu, President and CEO of the Africa Finance Corporation (AFC), succeeds AAMFI’s founding Chair, Prof. Benedict Oramah, President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank). His appointment was confirmed at the fifth meeting of the AAMFI Governing Council on 16th February 2025, on the sidelines of the 38th African Union Summit in Addis Ababa.

    Additionally, Dr Corneille Karekezi, Group Managing Director and CEO Africa Re Corporation (Africa Re) and Mr Manuel Moses, Chief Executive Officer of the African Trade & Investment Development Insurance (ATIDI), were appointed as the first and second Vice Chairpersons of the AAMFI Governing Council, respectively.

    Established in 2024, AAMFI brings together Africa’s leading multilateral financial institutions to promote sustainable economic growth and financial self-reliance for the continent. The Alliance plays a critical role in strengthening intra-African collaboration, mobilising capital for development, and advocating for Africa’s economic interests on the global stage.

    Under Prof. Oramah’s leadership, AAMFI made significant strides, including its successful launch by African Heads of State in February 2024, the adoption of its governing Charter, the admission of 3 new members: Fund for Export Development in Africa (FEDA), African Solidarity Fund (ASF), and East African Development Bank (EADB), increasing its membership from seven founding members to a total of ten members.

    Prof. Oramah’s leadership also saw the endorsement and recognition of AAMFI by key African Union organs and stakeholders, as well as successful elevation of the profile of the Alliance highlighting its key role in shaping discussions around African multilateral and development finance.

    “I want to thank the leadership of AAMFI for entrusting me with this mandate. Looking back at what we have achieved, I am reminded of the immense potential and responsibility that lies ahead. AAMFI has laid a strong foundation for Africa’s financial sovereignty, but there is still much more to be done. I am confident that under the leadership of Mr. Samaila Zubairu, the Africa will continue to drive impactful collaborations and innovative financial solutions to accelerate Africa’s economic transformation,” said Prof. Oramah, in his statement during the handover ceremony. “

    As Chair, Zubairu will drive collaborative growth by strengthening partnerships among member institutions, African governments, and global agencies to build a robust financial architecture. His agenda prioritizes youth empowerment through industrialization, financial literacy, and pension reforms, strategic investments in infrastructure, and developing capital markets to enhance liquidity and intra-African investment. He will also advocate for cross-border capital mobilization and early warning systems to prevent financial vulnerabilities, ensuring Africa’s economic resilience and long-term prosperity.

    While accepting the Chairmanship of the AAMFI for 2025, Mr Zubairu said: I am deeply honored to assume the chairmanship of AAMFI at this pivotal moment for Africa’s economic transformation. Our collective mission is clear—to build a robust financial architecture that captures and retains value within the continent, mobilizes African capital for African priorities, and accelerate the infrastructure development that enables industrialization. By fostering deeper intra-African collaboration, and strengthening our institutions, we will unlock opportunities that create high-quality jobs, drive innovation, and secure our long-term economic resilience. I look forward to working with my esteemed colleagues to chart a path toward true financial sovereignty and sustainable prosperity for Africa.”

    Mr. Zubairu’s leadership of AFC since 2018 has been pivotal to mobilising capital for infrastructure, industrialization and trade across Africa. AFC leads some of the continent’s most significant infrastructure projects, including the Lobito Corridor, Africa’s largest rail project, and transformative renewable energy initiatives such as the Lekela Power and Red Sea Power wind generation projects, and Xlinks, which is set to export electricity from the Sahara to Europe. Under his stewardship, AFC has doubled assets invested to $15 billion, and expanded membership from 18 countries to 44, representing 80% of African nations.

    Members commended Prof. Oramah on his successful leadership and tenure and pledged their commitment and support towards a successful year for Mr Zubairu as the new Chairperson of AAMFI.

    AAMFI members include AFC, Afreximbank, Trade and Development Bank Group (TDB Group), African Reinsurance Corporation (Africa Re), African Trade and Investment Development Insurance (ATIDI), Shelter Afrique Development Bank (SHAFDB), ZEP-RE (PTA Reinsurance Company), East African Development Bank (EADB), African Solidarity Fund (ASF), and the Fund for Export Development in Africa (FEDA).

    MIL OSI Africa –

  • MIL-OSI Africa: Africa relies too heavily on foreign aid for health – 4 ways to fix this

    Source: The Conversation – Africa – By Francisca Mutapi, Professor in Global Health Infection and Immunity. and co-Director of the Global Health Academy, University of Edinburgh

    There’s been a global trend in the reduction of aid to Africa since 2018. Donors are shifting their funding priorities in response to domestic and international agendas. Germany, France and Norway, for instance, have all reduced their aid to Africa in the past five years. And, in 2020, the UK government reduced its Overseas Development Aid from 0.7% of gross national income to 0.5%.

    Many health services across the African continent rely heavily on overseas aid to provide essential care. International funding supports everything from vaccines and HIV treatment to maternal health programmes.

    Cuts to aid, particularly unilateral ones, can have widespread implications. For instance, about 72 million people missed out on treatment for neglected tropical diseases between 2021 and 2022 due to UK aid cuts.

    The freeze of US aid to Africa in January 2025 is the latest in this trend. It’s already having significant and wide-ranging impacts across the African continent. For example, vaccination campaigns for polio eradication and HIV/Aids treatment through the President’s Emergency Plan for AIDS Relief (Pepfar) have been stopped. This puts millions of lives at risk. In South Africa alone, the cut of Pepfar’s US$400 million a year to HIV programmes risks patients defaulting on treatment, infection rates going up and eventually a rise in deaths.

    President Donald Trump’s actions have highlighted Africa’s reliance on foreign aid for health funding. I’m a global health expert who sits on various funding and advisory boards, including those of the World Health Organization (WHO), the UK government and boards of global resource mobilisation organisations. I am well aware of the competing funding priorities for international funders and have long advocated for local, sustainable health funding mechanisms.

    Long-term strategies to reduce aid dependency are critical. Breaking away from this current funding status requires concerted efforts building on proven best practice.

    Read more: How nonprofits abroad can fill gaps when the US government cuts off foreign aid

    Country-leadership and ownership

    African countries currently face the unique challenge of simultaneously dealing with high rates of communicable diseases, such as malaria and HIV/Aids, and rising levels of non-communicable diseases, such as cardiovascular diseases and diabetes.

    But Africa’s health systems are not sufficiently resourced. They’re not able to provide appropriate, accessible and affordable healthcare to address these challenges.

    African governments spend less than 10% of their GDP on health, amounting to capital expenditure of US$4.5 billion. This falls short of the estimated US$26 billion annual investment needed to meet evolving health needs.

    Aid goes towards filling this funding gap. For example, in 2021, half of sub-Saharan African countries relied on external financing, such as grants and loans, for more than one-third of their health expenditures.

    Foreign aid has helped. But it clearly leaves African countries vulnerable to the political mood swings among funders.

    It also leads to loss of self-determination in terms of health priorities as, ultimately, the funder determines the health priorities. This is one reason why many programmes in Africa focus on a single disease, such as HIV. This leads to poorly integrated health services. For instance health workers or services are channelled into managing a single disease.

    New, underutilised financing options

    The current trajectory of reduced aid to Africa is likely to continue. Global aid is being directed to other challenges, such as conflict and illegal immigration.

    The continent cannot continue on the same path while hoping for different outcomes. Africa needs to grow a range of immediately available domestic financing options. Many of these are underutilised and include:

    1.) Diversifying domestic resource mobilisation. This should include commodity taxation to fund health. For instance, tobacco taxes which are currently underutilised in Africa.

    Zimbabwe offers a successful example. It has bridged donor resource gaps through its 3% Aids levy (started in 1999). Imposed on both individual and corporate incomes, it funds domestic HIV/Aids prevention, care and treatment programmes.

    Nigeria’s another country that’s taken initiative, prioritising domestic budget allocation to health. It recently absorbed the 28,000 healthworkers formerly paid by USAid. This demonstrates that domestic health financing in Africa is possible.

    2.) More private-public partnerships. Formed between local and international philanthropies or institutions, these can bridge financing gaps.

    One successful example is the 2015 health service provision partnership between the Kenyan government and GE Healthcare. GE Healthcare provides radiography equipment and services which the government pays for over time. This allows the government to budget and plan healthcare expenditure over several years.

    3.) Promotion of regional integration to boost local production. This will reduce the need for aid-funded imported medical products.

    For instance, the African Union’s harmonised Africa Medicines Authority registration facility creates a single continental market for medicines. This supports local producers and exporters, by allowing them to operate on a larger scale. It also makes production and distribution more cost-effective. Finally, it reduces the reliance on imported medicines, strengthening Africa’s pharmaceutical industry.

    4.) Leverage development finance institutions. These are specialised financial organisations – such as the Africa Development Bank, African Export-Import Bank and the Development Bank of Southern Africa. They can provide capital and expertise to projects deemed too risky for traditional investors. This includes support for health financing for infrastructure development, private sector development for small and medium-sized enterprises and the regional integration.

    One transformative initiative is the AfricInvest investment platform. With support from development finance institutions in the US and Europe, AfricInvest has raised over US$100 million for health investment in Africa. It has funded at least 45 dialysis facilities in Africa, delivering over 130,000 dialysis sessions annually, primarily to remote and underserved communities all at affordable costs.

    A combination of these approaches at national, regional and continental level will accelerate Africa’s withdrawal from aid dependency.

    – Africa relies too heavily on foreign aid for health – 4 ways to fix this
    – https://theconversation.com/africa-relies-too-heavily-on-foreign-aid-for-health-4-ways-to-fix-this-249886

    MIL OSI Africa –

  • MIL-OSI United Kingdom: New law to ban bonuses for polluting water bosses

    Source: United Kingdom – Government Statements

    Press release

    New law to ban bonuses for polluting water bosses

    The Water (Special Measures) Act 2025 has today received Royal Assent, boosting the powers of water sector regulators to tackle pollution.

    Major legislation to crack down on water bosses polluting Britain’s rivers, lakes and seas has today been signed into law in the most significant increase to enforcement powers in a decade.   

    The Water (Special Measures) Act 2025 will give regulators new powers to take tougher and faster action to crack down on water companies damaging the environment and failing their customers.  

    The Act delivers on the manifesto pledges to clean up the water sector, including increasing the ability of the Environment Agency to bring forward criminal charges against water executives who break the law. It will create new tougher penalties, including possible imprisonment, for water executives who obstruct investigations.   

    The new legislation will provide powers for Ofwat to ban the payment of bonuses to water bosses if they fail to meet high standards to protect the environment, their consumers, and their company’s finances.     

    Other measures in the Act include automatic penalties to allow regulators to issue penalties more quickly, without having to direct resources to lengthy investigations. It will also introduce independent monitoring of every sewage outlet, with water companies required to publish real-time data for all emergency overflows. Discharges will have to be reported within an hour of the initial spill.  

    Environment Secretary Steve Reed said:

    “We promised to put water companies under tough special measures to clean up our waterways. Today, the Government has delivered on that promise as we continue to deliver on our Plan for Change.       

    “Polluting water bosses will no longer be paid undeserved bonuses. And if they break the law over water pollution, they could end up in the dock and face prison time. 

    “This is just the beginning. The Independent Water Commission will report back later this year to shape new laws that will transform our water system so we can clean up our rivers, lakes, and seas for good.” 

    The Act introduces bold new measures to clean up the industry, including:   

    • Enhanced enforcement powers: The Environment Agency will have increased ability to bring criminal charges against water bosses who break the law, who could face tougher penalties such as imprisonment of executives when companies fail to cooperate or obstruct investigations. The cost recovery powers of regulators will be expanded to ensure that water companies bear the cost of enforcement action taken in response to their failings.  

    • Ban on bonuses: Ofwat will have the power to set rules prohibiting the payment of executive bonuses if companies fail to meet high standards in protecting the environment, their consumers, and financial resilience.  

    • Automatic penalties: Automatic penalties will be introduced for a range of offences, allowing regulators to issue penalties more quickly without redirecting resources to lengthy investigations.   

    • Independent monitoring: Every emergency sewage outlet will be monitored, with data independently scrutinised and made publicly available within an hour of sewage spills occurring. This will ensure transparency and direct further investment to improving sewage infrastructure.   

    • Pollution Incident Reduction Plans (PIRPs): Water companies in England will be required to publish annual Pollution Incident Reduction Plans and report regularly on their progress, enabling the public and regulators to hold companies accountable for reducing pollution incidents.   

    The Act marks a major milestone in the government’s long-term approach to tackling the systemic issues in the water sector – helping to meet the challenges of the future, such as climate change, and driving economic growth.   

    Further legislation aimed at fundamentally transforming how our entire water system operates will be guided by the findings of the Independent Water Commission, led by Sir Jon Cunliffe, which is currently conducting the largest review of the industry since privatisation.   

    Action taken so far 

    Immediate steps:   

    In his first week, the Secretary of State for Environment Food and Rural Affairs Steve Reed announced a series of initial steps towards ending the crisis in the water sector: 

    • After writing to Ofwat, the Secretary of State secured agreement that funding for vital infrastructure investment is ringfenced and can only be spent on upgrades benefiting customers and the environment not diverted for bonuses, dividends or salary increases.    

    • Water companies will place customers and the environment at the heart of their objectives. Companies have agreed to change their ‘Articles of Association’ – the rules governing each company – to make the interests of customers and the environment a primary objective.   

    • Consumers will gain new powers to hold water company bosses to account through powerful new customer panels. For the first time in history, customers will have the power to summon board members and hold water executives to account.   

    • Strengthen protection and compensation for households and businesses when their basic water services are affected. We have now doubled the compensation customers are legally entitled to when key standards are not met. The payments will also be triggered by a wider set of circumstances including Boil Water Notices.   

    Independent Commission:   

    • We have launched an Independent Commission into the water sector and its regulation, in what is expected to form the largest review of the industry since privatisation.  

    • Former Deputy Governor of the Bank of England, Jon Cunliffe, has been appointed as the chair of the Commission. With several decades of economic and regulatory experience, his appointment demonstrates the Government’s serious ambitions. The Commission will draw upon a panel of experts from across the regulatory, environment, health, engineering, customer, investor, and economic sectors.   

    • A set of recommendations will be delivered to the Defra Secretary of State, and Deputy First Minister and Cabinet Secretary for Climate Change and Rural Affairs.   

    • These recommendations will form the basis of further legislation to attract long-term investment and clean up our waters for good – injecting billions of pounds into the economy, speeding up delivery on infrastructure to support house building and addressing water scarcity, given the country needs to source an additional 5 billion litres of water a day by 2050.

    Further information:   

    Please see further details on the Water (Special Measures) Act here.

    Stakeholder quotes: 

    Alan Lovell, Chair of the Environment Agency, said:   

    “The passing into law of the Water (Special Measures) Act is a crucial step in making sure water companies take full responsibility for their impact on the environment.  

    “The increased regulatory powers introduced by this legislation will allow us to close the justice gap, deliver swifter enforcement action and ultimately deter illegal activity.   

    “Alongside these reforms, we are undertaking the biggest ever transformation to the way we regulate. By investing in additional resources, training and updated digital assets, we are ensuring the water system better meets the needs of both people and the environment, now and in the future.” 

    Huw Irranca-Davies, Wales’s Deputy First Minister for Wales with responsibility for Climate Change, said:  

    “Restoring our rivers and improving water quality is a key priority for us.  

    “We’ve been working in partnership with the UK Government to tackle pollution in our rivers, lakes, and seas, and to make sure the water industry is properly regulated.  

    “Today’s Royal Assent of the Special Measures Bill is another step forward and shows what we can achieve working together.” 

    Helen Campbell, Ofwat’s Senior Director for Sector Performance, said: 

    ‘’We welcome today’s Royal Assent of the Water (Special Measures) Act 2025, which provides a clear signal to create a water sector that delivers for all customers and the environment.   

    “The Act gives Ofwat new powers to set requirements for companies on remuneration and governance, including prohibiting performance-related executive pay. These rules are an important step towards rebuilding public trust within the water sector, while also prompting water companies to focus on delivering a change in their culture that better meets the expectations of their customers. 

    “We are working at pace to implement these new rules and intend to launch consultations on the final proposals later this year.” 

    Mike Keil, Chief Executive of the Consumer Council for Water (CCW), said: 

    “Repairing people’s fractured trust in the water sector requires not only a vast improvement in environmental performance, but also a sea change in water company culture so customers’ priorities are put before profit.  

    “It will take time to transform the water sector, but these new legal powers mark an important step in tackling two issues which make people’s blood boil – water company executives being rewarded for failure and pollution in our rivers, lakes, and seas.  

    “Water companies will be placing much bigger demands on billpayers’ finances over the next five years, so people have a right to expect far more for their money.” 

    Mark Lloyd, Rivers Trust CEO, said:   

    “The Water Special Measures Bill is a welcome first step from the government towards building a water system which restores nature, builds resilience to drought and flooding, and tackles the widespread issues of pollution.  

    “We welcome the improvements made to the bill in its passage through the Lords and the Government’s acceptance of amendments strengthening the environment duty of Ofwat and a greater emphasis on Nature Based Solutions.   

    “We are engaging closely with the current Independent Water Commission which we see as a once in a generation opportunity to take several more, and bolder steps towards a more integrated and catchment-based approach to managing water.” 

    “We welcome Royal Assent of the Water (Special Measures) Act 2025, an important step toward cleaning up the freshwater environment. Regulators must make decisive use of new enforcement powers wherever companies continue to pollute, and Ofwat should make the most of new financial disclosure rules to ensure that funds that ought to be spent cleaning up rivers are never again siphoned off for profit.  

    “As the Government has recognised, the Act is just a first step. It must be followed promptly by further legislation and action to clamp down on pollution and ramp up environmental investment across whole catchments and across all the sectors responsible for polluting our rivers.” 

    Ali Morse, Water Policy Manager at the Wildlife Trusts, said:  

    “It’s encouraging to see The Water (Special Measures) Act bringing welcome powers and resourcing for regulators, as well as protections for the environment, with additional sewage spill monitoring and a focus on reducing pollution. These are topics that customers really care about. It lays important groundwork for the future legislative changes which are vital to ensure that the water sector can achieve what it needs to in the interests of its customers, and the rivers, lakes, and seas which people cherish. 

    “The work of the Independent Water Commission offers a once in a generation opportunity to reshape the way that we secure the improvements our waters desperately need, across catchment and sectors, and we’ll continue to work with the Commission and Government to ensure that these vital changes are driven forward.” 

    Jamie Cook, Angling Trust CEO, said:  

    “We welcome the government’s early action on water pollution with this bill. The behaviour of water companies is a national scandal, and illegal sewage pollution must result in prosecutions.  

    “The Angling Trust’s network of water-testing volunteers regularly exposes horrendous pollution in waterways and damage done to fisheries. The Environment Agency must use its powers to prosecute any law-breaking water bosses and address any illegal sewage spills uncovered in its long-standing investigation into potential permit breaches.  

    “This bill is a first step toward cleaning up waterways and fixing the regulatory system. The Independent Water Commission must now drive systemic reform, leading to a stronger water bill later in this Parliament—one that transforms water management and safeguards rivers, lakes, seas, and the fish that depend on them.” 

    Ben Seal, Head of Access and Environment at Paddle UK, said: 

    “Paddle UK and The Clean Water Sports Alliance welcomes the Water (Special Measures) Act receiving Royal Assent today. This legislation is a shot across the bows of polluting companies. Banning bonuses for failures and issuing tougher penalties is a very welcome first step by the Government – a down payment on the promised future reform that our broken system so desperately needs” 

    “Enjoying time in, on, or alongside water is vitally important in supporting the health and wellbeing of millions of people. Our community has campaigned tirelessly to raise awareness of the impact pollution is having on both people and nature. We will be watching closely to ensure that these new powers are used to their fullest, to hold polluters to account and begin to restore our precious blue spaces”. 

    Updates to this page

    Published 24 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Province Contributes $6.5 Million To Ronald Mcdonald House In Regina

    Source: Government of Canada regional news

    Released on February 24, 2025

    Saskatchewan Families with Sick Kids to Benefit From Home-Away-From-Home

    Today, the Government of Saskatchewan announced $6.5 million in funding to Ronald McDonald House Charities (RMHC). The funding will go toward the building of the first ever Ronald McDonald House in Regina.  

    “I am thrilled that Saskatchewan families will now have the option of staying at a Ronald McDonald Home when they come to Regina seeking medical care for their children,” Health Minister Jeremy Cockrill said. “At a very stressful time in their lives, families will know they can rely on an affordable place where they feel welcome and cared for, while their child is undergoing medical treatment.” 

    The Ronald McDonald Home in Regina will provide a “home-away-from-home” for families whose children are undergoing treatments at nearby health care facilities. The design includes 20 bedrooms, a children’s playroom, outdoor play space and communal kitchen.

    “The government’s financial support to the house in this province is a historic moment for RMHC – SK and Saskatchewan families,” RMHC Saskatchewan Chief Executive Officer Tammy Forrester said. “We are beyond thrilled that this first ever provincial government contribution, into keeping families together during their child’s critical health care journey, will enable RMHC – SK to provide wrap around Family Centered Care. The capital investment will ensure that all Saskatchewan families will receive the support they need when they need it the most.”

    The new facility will be built on the corner of Scarth Street and 15th Avenue, keeping the facility centrally located and close to the Regina General Hospital.

    Families across the province have stayed at the Ronald McDonald House in Saskatoon. The Slobodian family have experienced firsthand what the home offers. 

    “Ronald McDonald House does not make the family’s journey easy, but it does make it easier,” Craig Slobodian said. “The Saskatoon House has helped many Saskatchewan families with mental and financial support. Adding a house in Regina will help more Saskatchewan families.”

    Ronald McDonald House Charities Saskatchewan was founded in 1985. RHMC currently operates two programs in Saskatchewan with Ronald McDonald House in Saskatoon and Family Room in Prince Albert. Approximately 29,800 Saskatchewan families have been served by these programs. 

    Construction of the Ronald McDonald House Charities Regina will begin March 2025 and is expected to be completed in early 2027. 

    This chapter in family care excellence reflects government’s dedication to ensuring all Saskatchewan residents have access to compassionate care and essential support services.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI: QCR Holdings, Inc. Announces CEO Retirement and Executive Transition

    Source: GlobeNewswire (MIL-OSI)

    MOLINE, Ill., Feb. 24, 2025 (GLOBE NEWSWIRE) — QCR Holdings, Inc. (NASDAQ: QCRH) (“QCR Holdings” or the “Company”), today announced that, effective immediately following the annual stockholders meeting on May 22, 2025, Larry J. Helling will retire from his role as Chief Executive Officer of the Company and of Cedar Rapids Bank and Trust Company, one of the Company’s wholly-owned bank subsidiaries. Additionally, Mr. Helling will also retire at that time from the boards of directors of the Company and Cedar Rapids Bank and Trust Company. Upon Mr. Helling’s retirement, Todd A. Gipple, the Company’s current President and Chief Financial Officer, will become President and Chief Executive Officer of the Company. Additionally, Nick W. Anderson, the Company’s current Senior Vice President and Chief Accounting Officer, will become the Company’s Chief Financial Officer upon Mr. Gipple’s move to Chief Executive Officer.

    “We were extremely fortunate to have Larry’s leadership as CEO over the past 6 years. Larry joined the organization in 2001 with the formation of Cedar Rapids Bank and Trust Company and became CEO of the Company in 2019. Larry has left an indelible mark on the entire organization,” remarked Marie Ziegler, Chair of QCR Holdings. “Larry’s focus on our clients, shareholders and employees through his emphasis on local control of our banking subsidiaries has been critical in guiding us through the past several years, which included the pandemic and the unique inflationary economic environment. We appreciate Larry’s dedication to the organization and working with the board to implement a seamless succession. We congratulate Larry on his impressive career and look forward to his continued friendship during his well-earned retirement.”

    “It’s been an honor to serve at QCR Holdings and its banking subsidiaries for more than two decades. I have been fortunate to see the positive impacts that our company has had on the communities we serve. We are a relationship-driven organization, and that is reflected in our talented employees, who work diligently to make a positive difference for our clients,” commented Mr. Helling. “Our growth and success in recent years have been possible because of Todd’s leadership and exceptional ability to work with others. I leave knowing that the organization will continue to be guided by a strong leader who embraces our culture.”

    Mr. Gipple has served as the Company’s Chief Financial Officer since 2000, when he transitioned from a successful public accounting career. Through his years in the organization, Mr. Gipple has served in other capacities, including Chief Operating Officer, President and, since 2009, as a director of the Company, in addition to serving on the boards of the Company’s various banking subsidiaries. Mr. Gipple also is an active community leader in the Quad Cities and has served on the Board of Directors and Executive Committees of several local organizations during his 40 years in the community. He currently serves on the Board of Directors of The John Deere Classic and is Past-Chair and a current member of the Executive Committee of the Board of Directors for the YMCA of the Iowa Mississippi Valley.   “I’m honored to take on the CEO role of our company following our annual meeting in May,” said Mr. Gipple. “I have been fortunate to work with Larry since he joined QCR Holdings in 2001 when he founded Cedar Rapids Bank and Trust Company, and I have enjoyed working closely with him the past six years as he has led our company as CEO. It has been very rewarding to be a part of the company’s success the past 25 years. I look forward to continuing that success by retaining our local community banking model that keeps us focused on exceeding the expectations of our clients, creating stronger communities, and sustaining our top-tier financial performance. This focus has served us well throughout the history of our company and has created long-term value for our shareholders.”  

    Mr. Anderson, an Illinois native and graduate of Western Illinois University, is a Certified Public Accountant. Mr. Anderson began his banking career as a teller while working his way through college. Since late 2019, he has served as Chief Accounting Officer of the Company, overseeing all of the Company’s internal and external financial reporting. He also is actively involved in his community and currently serves as the Vice President of Project Renewal of Davenport, Inc., which provides educational, recreational, and social activities for children during the school year and summer. “I have had the pleasure of working closely with Nick for over 20 years and I am fully confident that his transition into the Chief Financial Officer role will be seamless,” said Mr. Gipple. “He has the trust of the board and the executive management team and will do an excellent job overseeing the financial responsibilities at the Company while continuing to be an important part of communicating our successful story with shareholders and other constituencies.”

    Mr. Helling’s retirement and Messrs. Gipple’s and Anderson’s appointments will be effective immediately following the Company’s annual stockholder meeting, scheduled to be held on May 22, 2025.

    About Us

    QCR Holdings, Inc., headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company serving the Quad Cities, Cedar Rapids, Cedar Valley, Des Moines/Ankeny, and Springfield communities through its wholly owned subsidiary banks. The banks provide full-service commercial and consumer banking and trust and wealth management services. Quad City Bank & Trust Company, based in Bettendorf, Iowa, commenced operations in 1994; Cedar Rapids Bank & Trust Company, based in Cedar Rapids, Iowa, commenced operations in 2001; Community State Bank, based in Ankeny, Iowa, was acquired by the Company in 2016; Springfield First Community Bank, based in Springfield, Missouri, was acquired by the Company in 2018, and Guaranty Bank, also based in Springfield, Missouri, was acquired by the Company and merged with Springfield First Community Bank in 2022, with the combined entity operating under the Guaranty Bank name. Additionally, the Company serves the Waterloo/Cedar Falls, Iowa community through Community Bank & Trust, a division of Cedar Rapids Bank & Trust Company. Quad City Bank & Trust Company offers equipment loans and leases to businesses through its wholly owned subsidiary, m2 Equipment Finance, LLC, based in Waukesha, Wisconsin, and provides correspondent banking services. The Company has 36 locations in Iowa, Missouri, Wisconsin, and Illinois. As of December 31, 2024, the Company had $9.0 billion in assets, $6.7 billion in loans, and $7.1 billion in deposits. For additional information, please visit the Company’s website at www.qcrh.com.

    PRESS CONTACT:
    Cari Henson
    VP, Corporate Communications Manager
    309.277.2668 | chenson@qcrh.com

    The MIL Network –

  • MIL-OSI: Capital Bancorp, Inc. Completes Operational Conversion of Integrated Financial Holdings, Inc.

    Source: GlobeNewswire (MIL-OSI)

    ROCKVILLE, Md., Feb. 24, 2025 (GLOBE NEWSWIRE) — Capital Bancorp, Inc. (“CBNK”) announced that it had completed the conversion of Integrated Financial Holdings, Inc. (“IFH”) into its operations and systems. This conversion integrates IFH customer accounts into CBNK’s products and services.

    West Town Bank & Trust and Windsor Advantage previously operated as subsidiaries of IFH. In connection with the merger completed on October 1, 2024, West Town Bank & Trust merged with and into Capital Bank, N.A. and Windsor Advantage became a subsidiary of Capital Bancorp, Inc.

    “While Capital and IFH have already been effectively operating as one company, this conversion marks a major milestone,” said Ed Barry, Chief Executive Officer of CBNK. “Now that the conversion is complete, we are well positioned to better serve our customers and continue to execute on the meaningful synergies that we expect to accrue in the merger.”

    CBNK completed the conversion between the close of business on February 21st and reopening on February 24th. IFH customers – including customers of its North Riverside, IL branch – now have access to a wide selection of CBNK products and services. In addition, they can bank at any CBNK location, through digital banking or ATM. In connection with the merger, CBNK also anticipates opening a branch in Raleigh, NC on March 3, 2025.

    Information about the conversion and transition to CBNK was mailed to these customers on October 1, 2024. Since then, we have maintained ongoing communications to support a smooth transition.

    ABOUT CAPITAL BANCORP, INC.

    Capital Bancorp, Inc., Rockville, Maryland is a registered bank holding company incorporated under the laws of Maryland. Capital Bancorp has been providing financial services since 1999 and now operates bank branches in six locations including Washington D.C., Reston, VA, Ft. Lauderdale, FL, Rockville, MD, Columbia, MD and N. Riverside, IL. Capital Bancorp had assets of approximately $3.2 billion at December 31, 2024 and its common stock is traded in the NASDAQ Global Market under the symbol “CBNK.” More information can be found at the Company’s website www.CapitalBankMD.com under its Investor Relations page.

    Capital Bank, N.A.
    Media Contact:
    Bryon Stevens
    Investor Relations
    Email: bstevens@capitalbankmd.com

    The MIL Network –

  • MIL-OSI Global: Rising house prices don’t just make it harder to become a homeowner – they also widen the racial wealth gap

    Source: The Conversation – USA – By Joe LaBriola, Research Assistant Professor, Survey Research Center, University of Michigan

    Homeownership – long a cornerstone of the “the American dream” – is increasingly out of reach for the average American. Over the past four decades, U.S. house prices have risen by 75% in real terms, pushing the costs of homeownership for the typical first-time homebuyer to a record high. At the same time, these rising prices have significantly boosted the wealth of existing homeowners.

    As a sociologist who studies inequality in America through the lens of housing, I’ve spent the past few years looking into how rising house prices have affected the wealth gap between white and Black households, which has widened significantly over the past four decades. White families had about US$90,000 more wealth – in 2021 dollars – than their Black counterparts in 1984, an alarmingly wide gap. But by 2021, the gap had widened to almost $160,000.

    My recent peer-reviewed research, published in the journal Social Problems, found that the rise in house prices between 1984 and 2021 accounted for most of this widening gap. Using data from the University of Michigan’s Panel Study of Income Dynamics, which tracks a nationally representative group of American families over time, I explored how homeowners’ wealth trajectories would have differed if they hadn’t benefited from rising house prices.

    I found that housing market appreciation widened the median wealth gap between white and Black households by nearly $50,000 between 1984 and 2021. Given that home prices have continued to rise since 2021, it’s fair to assume that this gap has widened further over the past few years.

    Why a rising tide doesn’t lift all boats

    I also investigated why rising house prices widened the wealth gap by so much. The most important cause is the long-standing disparity in homeownership rates. White households had a homeownership rate of 74% at the end of 2021, compared with only 43% for Black households. As a result, they were much more likely to have benefited from rising home values, which directly increased their home equity.

    White homeowners also tend to own more expensive homes than Black homeowners. While this is a less important factor, it means that they saw greater absolute gains in home equity than Black homeowners from the same percentage rise in the housing market.

    However, I also found an interesting exception: Black homeowners benefited more from neighborhood-level housing market trends. One possible explanation is that the gentrification of Black neighborhoods in recent decades led to outsize housing market appreciation in these neighborhoods – which disproportionately boosted the home equity of existing Black homeowners.

    The impact of history – and ideas for the future

    I became interested in housing and wealth inequality when I attended graduate school in the San Francisco Bay Area, one of the least affordable housing markets in the world. Many homeowners who had bought their homes in the 1970s for tens of thousands of dollars were now sitting on millions of dollars in home equity. Meanwhile, buying a home in this area seemed out of reach for all but the highest-earning families, effectively locking renters out of the wealth-building effects of rising house prices.

    My curiosity about rising house prices led me to explore how they shape wealth inequality – not just between homeowners and renters, but also between racial groups. The more I read, the more I learned about the many legal, political and social barriers that have kept Black families from becoming homeowners.

    These include exclusionary zoning policies and racial covenants that locked Black families out of many neighborhoods, reduced access to mortgage lending in historically Black neighborhoods, and persistent hiring and workplace discrimination that have kept Black families from accumulating wealth.

    Addressing these inequities will require thoughtful policy solutions. As a sociologist studying these issues, I have some recommendations on contemporary policies that can increase access to homeownership for less affluent households. Given racial disparities in wealth, these policies would also help to reduce racial gaps in homeownership:

    • Reform local housing regulations: By easing restrictions on housing development, cities can help alleviate the housing shortage that’s helping to drive up home prices. Austin, Texas, is an example of a city that has successfully curbed rising home prices by dramatically increasing its housing construction. Lower house prices would then allow a greater range of families to own homes.

    • Implement land value taxes: Traditional property taxes can discourage residential development because landowners pay higher taxes after they develop their land. In contrast, land value taxes are only assessed on the value of the land, which encourages landowners to put their land to the most productive use. Over time, land value taxes would lead to greater residential development in areas that need it most, which would then reduce upward pressures on house prices.

    • Subsidize homeownership: While using federal funds to subsidize homeownership would come with the risk of inflating prices, this could help more low-income households enter and maintain homeownership and thereby benefit from future housing market appreciation.

    Future directions for research

    I am currently extending this work in several directions. In collaboration with Ohio State University sociologist Chinyere Agbai and Stone Center for Inequality Dynamics Student Associate Nils Neumann, I am examining how the home mortgage interest deduction has affected the wealth gap between white and Black households over time. Introduced in 1913, this deduction is one of the largest tax breaks available to American households, but Black households are much less likely than white households to benefit from it, in part due to lower rates of homeownership.

    Our preliminary findings suggest the home mortgage interest deduction has substantially widened the wealth gap between white and Black households over the past several decades.

    I’m also investigating the role of parental wealth in helping children buy homes in increasingly unaffordable housing markets. My findings suggest that young homebuyers in expensive areas come from much wealthier backgrounds and receive more financial assistance when buying their homes than first-time homebuyers in other neighborhoods. I also found that family help makes young adults substantially more likely to become first-time homeowners.

    If Americans want to work toward creating a more equitable society, understanding the connections between housing, wealth and racial inequality is an important place to start.

    In conducting this research, Joe LaBriola received support from the James M. and Cathleen D. Stone Center for Inequality Dynamics at the University of Michigan, the National Science Foundation, the National Institutes of Health, the UC Berkeley Opportunity Lab, the Horowitz Foundation for Social Policy, and the UC Berkeley Institute for Governmental Studies.

    – ref. Rising house prices don’t just make it harder to become a homeowner – they also widen the racial wealth gap – https://theconversation.com/rising-house-prices-dont-just-make-it-harder-to-become-a-homeowner-they-also-widen-the-racial-wealth-gap-250020

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Delivery driver who spent Covid funds on drugs and gambling also withdrew cash for home renovations just before he went bankrupt

    Source: United Kingdom – Executive Government & Departments

    Press release

    Delivery driver who spent Covid funds on drugs and gambling also withdrew cash for home renovations just before he went bankrupt

    Bounce Back Loan fraudster handed suspended sentence and curfew

    • Amraiz Mahmood secured more than £20,000 in Covid support funds by falsely declaring he had a turnover of £81,000 as a self-employed delivery driver and courier  
    • Mahmood spent the money on drugs and gambling and also used a separate non-Covid related loan for almost £40,000 worth of renovations to his home just before he filed for his own bankruptcy 
    • Insolvency Service investigations have resulted in Mahmood being given a suspended prison sentence and 12-month curfew 

    A delivery driver who spent Covid support funds he was not entitled to on drugs and gambling has been sentenced. 

    Amraiz Mahmood fraudulently secured a £20,250 Bounce Back Loan from his bank in 2020 by overstating his 2019 turnover by more than £65,000. 

    The 31-year-old then claimed to have assets of only £100 despite withdrawing almost £40,000 in cash for home improvements in the weeks before he filed for his own bankruptcy.  

    Mahmood, of Booker Lane, High Wycombe, was sentenced to 10 months in prison, suspended for two years, when he appeared at High Wycombe Magistrates’ Court on Friday 21 February. 

    He is also now subject to a 12-month daily curfew between 9pm and 7.45am which will be monitored with an electronic tag. 

    Mark Stephens, Chief Investigator at the Insolvency Service, said: 

    Amraiz Mahmood hugely inflated his turnover to secure taxpayers’ money he did not deserve. He then clearly failed to use the loan as it was intended.  

    Bounce Back Loans were designed to support small businesses through the pandemic. They were not intended to be used for personal gain and the Insolvency Service will not hesitate to take action when we identify such blatant abuse of the scheme. 

    Mahmood also concealed tens of thousands of pounds in assets from the Official Receiver when he was declared bankrupt.

    Mahmood fraudulently applied for his Bounce Back Loan in May 2020, claiming his turnover as a self-employed courier and delivery driver was £81,000. 

    His self-assessment return for 2018-19 however showed an income of only £15,018. 

    Mahmood said that he spent the majority of the money he claimed on recreational drugs and gambling. 

    In May 2021, one year on from fraudulently securing the Bounce Back Loan, Mahmood applied for bankruptcy, stating he had assets of just £100 and liabilities of more than £200,000. 

    However, just one month before his bankruptcy, Mahmood had secured a non-Covid related loan from his bank worth £25,000 having also withdrawn £2,000 from his account in the days and weeks before. 

    He then withdrew a further £37,950 in cash across several transactions before being declared bankrupt. 

    Mahmood said he withdrew the money as he needed to make repairs to his home and he knew the assets would be frozen once the bankruptcy order was made. 

    Invoices for the house renovations were dated after Mahmood’s bankruptcy however, meaning he was in possession of the funds when he told the Official Receiver he only had £100 in assets. 

    Mahmood signed an eight-year Bankruptcy Restrictions Undertaking in March 2022, restricting him from being able to borrow more than £500 without disclosing his bankrupt status. 

    Efforts are now being made to recover the funds from Mahmood. 

    Further information 

    Updates to this page

    Published 24 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: UKRAINE LIVE: Diplomatic debate steps up a gear as world marks 3rd anniversary of full-scale Russian invasion

    Source: United Nations MIL OSI b

    February 24 marks three years since Russia launched a full-scale invasion of Ukraine. Thousands of civilians have been kicked and injured, the economy has been shattered and energy infrastructure destroyed. As the General Assembly and Security Council meet today to mark and debate how peace and security can be restored in eastern Europe, we will be providing rolling coverage of the proceedings. Competing resolutions from Ukraine and the US point to a day of consequential diplomacy. UN News app users can follow live here.

    MIL OSI United Nations News –

  • MIL-OSI: Wrap Acquires W1 Global: Expands Managed Services with Former FBI, DEA, and DoD Leadership to Accelerate Made-in-America End-to-End Solutions

    Source: GlobeNewswire (MIL-OSI)

    This news follows: Wrap Unveils Managed Safety and Response (MSR) Connected Ecosystem in Virginia

    TEMPE, Ariz., Feb. 24, 2025 (GLOBE NEWSWIRE) — Wrap Technologies (NASDAQ: WRAP) (“Wrap” or, the “Company”) today announced it has completed the acquisition of W1 Global, LLC (“W1”) a preeminent professional services and consulting firm led by an executive team of former high-ranking law enforcement and U.S. Intelligence Community professionals, with deep competencies in complex international criminal investigation, regulatory matters and compliance issues.

    The acquisition of W1 is expected to increase Wraps access to the skill and experience of this distinguished group, as well as expand the international reach of its MSR Connected Ecosystem. It is also expected to support a tech-enabled enhancement of the suite of professional and consulting services that W1 has provided to its clients all over the world.

    Wrap’s acquisition has now assembled a deep team of senior leaders from both the public sector and national security agencies:

    • Professional Services will be led by Bill McMurry, a career law enforcement and intelligence professional. Mr. McMurry is a retired FBI Supervisory Special Agent who served in the FBI’s New York Office for twenty-four years. Mr. McMurry worked closely with the US DOJ, DEA, ATF, HSI, OFAC, DOD and the USIC to develop a national strategy to implement a whole of government response to combat the threat posed by Transnational Organized Crime.
    • Managed Safety and Response will be led by Jim DeStefano, former Assistant Special Agent in Charge of a Special Operations Branch responsible for the New York field division’s preparation for, response to, and recovery from all crisis and special events – including training and tactics in response to emotionally disturbed persons. John Penza, adds experience from state and federal corrections, local law enforcement, and as the former New York Division’s Assistant Special Agent in Charge of the Violent Crimes and Drug Trafficking Branch.
    • Investigative, Regulatory and Compliance professional services will be supported by Ric Bachour, a former local and state police officer, U.S. Marine, and Purple Heart recipient. His international experience includes leadership roles in the DEA Sensitive Undercover Operations Unit, Special Operations, and DEA’s Foreign and Domestic Field Offices.

    Additional Talent Pipeline and International Go-To-Market

    Wrap anticipates accessing a deep talent pool as individuals transition from long government tenures, marking the first of many strategic talent acquisitions to meet growing market demands.

    The W1 Global transaction is expected to position Wrap for international expansion by leveraging W1’s global network and expertise in investigative services. This in-country support network, consisting of former government personnel, provides valuable entry points for global distribution while aligning with U.S. resources and support systems.

    End-to-End Ecosystem

    The W1 Global transaction creates an end-to-end ecosystem with two key business lines: leveraging top talent to deliver comprehensive Managed Safety and Response (MSR) solutions and expanding tech-enabled professional services to enhance client support. Both companies’ clients demonstrate a strong appetite for each other’s services—Wrap’s international clients show significant interest in investigative services, while W1 Global’s clients are keen on Wrap’s BolaWrap, drones, and expanding cyber solutions within the MSR portfolio. This strategic combination effectively meets the market demand for integrated safety and technology-driven professional services, driving growth and enhancing client support.

    Scot Cohen, Chairman and Chief Executive Officer of Wrap, commented, “The acquisition of W1 Global is a transformational step in establishing Wrap as a leader in Managed Safety and Response services. It is expected to drive immediate revenue growth, be accretive, and create synergies with our existing business, including the revamped BolaWrap program, while supporting our expanding global channel system.”

    Bill McMurry, Chief Executive Officer of W1 Global, commented, “W1 and Wrap can now deliver comprehensive MSR solutions with expert consulting, integration, and customization. By combining cutting-edge technology like the BolaWrap with professional services, we hope to ensure seamless implementation and continuous support. Our deep industry expertise is expected to allow us to optimize safety solutions for public safety agencies, effectively addressing complex challenges.”

    About Wrap Technologies, Inc.

    Wrap Technologies, Inc. (Nasdaq: WRAP) is a leading global provider of advanced public safety solutions, integrating ultramodern technology, cutting-edge tools, and comprehensive services to address the complex, modern day challenges facing public safety organizations around the world. Guided by a no-harm principle, Wrap is dedicated to developing groundbreaking solutions that empower public safety agencies to safeguard the communities they serve in a manner that fosters stronger relationships, driving safer outcomes, empowering public safety and communities to move forward together.

    Wrap’s BolaWrap® solution encompasses an innovative and patented hand-held remote restraint device, strategically engineered with Wrap’s no-harm guiding principle to proactively deter escalation by deploying a Kevlar® tether that safely restrains individuals from a distance. Combined with BolaWrap® training, certified by the esteemed International Association of Directors of Law Enforcement Standards and Training (IADLEST), Wrap enables officers from over 1000 agencies across the U.S. and 60 countries around the world, with the expertise to effectively use BolaWrap® as an early intervention measure, mitigating potential risks and injuries, averting tragic outcomes, with the goal to save lives with each wrap.

    Wrap Reality™, the Company’s advanced virtual reality training system, is a fully immersive training simulator and comprehensive public safety training platform that equips first responders with the discipline and practice to prevent escalation, de-escalate conflicts, and apply appropriate tactical use-of-force measures to better perform in the field. By offering a growing range of real-life scenarios, Wrap Reality™ addresses the dynamic nature of modern law enforcement situations for positive public safety outcomes, building safer communities one decision at a time.

    Wrap’s Intrensic solution is a comprehensive, secure and efficient body worn camera and evidence collection and management solution designed with innovative technology to quickly capture, safely handle, securely store, and seamlessly track evidence, all while maintaining full transparency throughout the process. With meticulous consolidation and professional management of evidence, confidence in law enforcement and the justice system soars, fostering trust and reliability in court outcomes. Intrensic’s efficient system streamlines the entire process seamlessly, empowering all public safety providers to focus on what matters, expediting justice with integrity.

    Connect with Wrap:
    Wrap on Facebook
    Wrap on Twitter
    Wrap on LinkedIn

    Trademark Information

    Wrap, the Wrap logo, BolaWrap®, Wrap Reality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad.  All other trade names used herein are either trademarks or registered trademarks of the respective holders.

    Cautionary Note on Forward-Looking Statements – Safe Harbor Statement
    This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “anticipate,” “should”, “believe”, “target”, “project”, “goals”, “estimate”, “potential”, “predict”, “may”, “will”, “could”, “intend”, and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the expected benefits of the acquisition of W1, the Company’s ability to maintain compliance with the Nasdaq Capital Market’s listing standards; the Company’s ability to successfully implement training programs for the use of its products; the Company’s ability to manufacture and produce products for its customers; the Company’s ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company’s product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company’s ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

    Investor Relations Contact:

    (800) 583-2652
    ir@wrap.com

    The MIL Network –

  • MIL-OSI: FE International Announces Appointment of Four New Partners

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 24, 2025 (GLOBE NEWSWIRE) — FE International, a leading M&A advisory firm, announces the appointment of Max Alderman, Ashley Bohn, Anastasia Buraminskaya, and Jake Olivieri as Partners. These appointments strengthen the firm’s leadership team and reflect its continued growth in key global markets.

    “We’re thrilled to welcome Max, Ashley, Anastasia, and Jake as partners,” said Thomas Smale, Founder and CEO of FE International. “Each of them has played a crucial role in our firm’s growth and success. Their promotions reflect both their outstanding contributions and our commitment to developing talent within FE.”

    The newly appointed Partners bring diverse expertise and proven track records in managing complex transactions and building strong client relationships:

    • Max Alderman has more than eight years of experience advising on TMT M&A transactions, advising on more than $7 billion in transaction value. As a technology investment banker, he has led complex cross-border deals, managed global deal teams, and built deep relationships with founders, private equity firms, and strategic acquirers. Prior to joining FE International, Max worked in the investment banking groups at Bank of America Merrill Lynch and J.P. Morgan, advising on M&A transactions across the technology sector.
    • Anastasia Buraminskaya brings extensive experience in financial analysis, technical accounting and valuation. Since joining FE International, she has successfully guided clients in refining their financial strategies, enabling them to achieve maximum valuation and effectively position themselves for growth. She is also a Certified Public Accountant in New York State.
    • Jake Olivieri, previously Vice President at FE International, leverages nearly a decade of experience in debt capital markets. Throughout his tenure, he has advised on transactions exceeding $500 million in value, with particular expertise in the e-commerce sector. Jake is a CFA Charterholder.
    • Ashley Bohn brings significant expertise in FinTech and enterprise software advisory services, having closed over 25 deals in just over three years at the firm. Prior to joining FE International, she worked in public accounting, serving emerging growth and technology companies generating over $500 million in annual revenues. She is a Certified Public Accountant in New York State.

    These appointments further strengthen FE International’s position as a leader in technology M&A advisory services. The new Partners will continue to operate from the firm’s established offices, serving clients across the global technology sector.

    About FE International

    Founded in 2010, FE International is an award-winning strategic advisor for technology businesses. The firm’s team has completed over 1,500 transactions with a combined value exceeding $50 billion. FE International has been recognized as one of The Americas’ Fastest Growing Companies by the Financial Times from 2020 to 2024 and has earned a place on the Inc. 5000 list for four consecutive years.

    Media Contact

    Gaj Tanwar
    Marketing Coordinator, FE International
    Email: gaj.tanwar@feinternational.com 

    The MIL Network –

  • MIL-OSI Security: U.S. ATTORNEY’S OFFICE COLLECTS $10,739,347.57 IN CIVIL AND CRIMINAL ACTIONS IN FISCAL YEAR 2024

    Source: Office of United States Attorneys

    TALLAHASSEE, FLORIDA – Michelle Spaven, Acting United States Attorney for the Northern District of Florida announced today that the Northern District of Florida collected $10,739,347.57 in criminal and civil actions in Fiscal Year 2024. Of this amount, $6,129,268.26 was collected in criminal actions and $4,610,079.31 was collected in civil actions.            

    “Our office’s civil and criminal divisions, in coordination with our federal, state, and local law partners, have continued to work tirelessly to collect funds owed the America people in both criminal and civil matters,” said Acting U.S. Attorney Spaven.  “These efforts recover funds owed in civil and criminal debts and are used to punish criminals, make victims whole, and return funds to the federal treasury.”

    For example, in November, 2023, Chad Wade pleaded guilty to wire fraud, money laundering, and bankruptcy fraud, for acts of COVID-related fraud.  He was sentenced to 14 months’ imprisonment, ordered to pay restitution to the United States Small Business Administration in the amount of about $1.58 million, and ordered to pay a fine of $100,000.00.  In FY 2024, the Northern District of Florida collected the full amount of the restitution.  In addition to the criminal judgment, the Northern District of Florida obtained a civil judgment under the False Claims Act for over $4 million, of which over $2.2 million has been collected.  The total amount collected from Wade is over $3.8 million.

    In November, 2022, Kathleen Jasper pleaded guilty to racketeering conspiracy and conspiracy to commit theft of trade secrets. She was sentenced to 10 months’ imprisonment and ordered to pay restitution to the Florida Department of Education in the amount of $135,026.00.  In FY 2024, the Northern District of Florida recovered the full amount of the restitution, including over $20,000 through the Treasury Offset Program.

    The U.S. Attorneys’ Offices, along with the department’s litigating divisions, are responsible for enforcing and collecting civil and criminal debts owed to the U.S. and criminal debts owed to federal crime victims. The law requires defendants to pay restitution to victims of certain federal crimes who have suffered a physical injury or financial loss. While restitution is paid to the victim, criminal fines and felony assessments are paid to the department’s Crime Victims Fund, which distributes the funds collected to federal and state victim compensation and victim assistance programs.

    Additionally, the U.S. Attorney’s office in Northern District of Florida, working with partner agencies and divisions, collected $10,417,393 in asset forfeiture actions in FY 2024. Forfeited assets deposited into the Department of Justice Assets Forfeiture Fund are used to restore funds to crime victims and for a variety of law enforcement purposes.

    The United States Attorney’s Office for the Northern District of Florida is one of 94 offices that serve as the nation’s principal litigators under the direction of the Attorney General. To access public court documents online, please visit the U.S. District Court for the Northern District of Florida website. For more information about the United States Attorney’s Office, Northern District of Florida, visit http://www.justice.gov/usao/fln/index.html.

    MIL Security OSI –

  • MIL-OSI: Rate Launches 1stResponder+ Program, Offering Mortgage Balance Coverage to Those Working in the Line of Duty

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Feb. 24, 2025 (GLOBE NEWSWIRE) — Rate, the second largest retail lender in the U.S. and a leader in fintech mortgage solutions, is proud to announce the launch of its 1stResponder+ Program, a new initiative designed to provide financial peace of mind to active first responders and their families.

    Underscoring Rate’s commitment to those who serve and protect our communities every day, the 1stResonder+ program offers eligible first responders a complimentary, one-year accidental death insurance policy that covers their mortgage balance—up to $650,000—in the event that the first responder passes away in the line of duty. This program can be paired with Rate’s agency conventional, FHA, VA, and USDA product offerings, providing flexible options for borrowers who meet both loan program and product criteria.

    Eligible professions include:

    • Law Enforcement Officers: Police officers, correction officers, and Homeland Security personnel (including military border patrol).
    • Emergency Medical Services: EMTs, paramedics, ambulance personnel, search and rescue teams, and air ambulance crews.
    • Fire Service: Firefighters and search and rescue personnel.

    “First responders are the backbone of our communities, putting their lives at risk every day to ensure the public’s safety and well-being,” said Victor Ciardelli, President and CEO of Rate. “The 1stResponder+ program is our way of saying thank you and ensuring their families are protected, should the unthinkable occur. This initiative reflects our gratitude and respect for these individuals.”

    The 1stResponser+ not only highlights Rate’s focus on advancing the mortgage industry, but also reinforces its mission to make homeownership attainable and secure for those who selflessly serve others.

    Rate loan officers are dedicated to supporting the communities that they serve in many different ways. In addition to 1stResponder+, Rate offers an extensive product suite that includes, but is not limited to, a wide variety of Affordable, Jumbo, and Non-QM products and programs. Whether you are a first responder or not, Rate has an option that will best fit your needs.

    About Rate

    Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, Rate is the #2 retail mortgage lender in the U.S., with over 850 branches across all 50 states and Washington D.C. Since its launch in 2000, Rate has helped more than 2 million homeowners with home purchase loans and refinances. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates, and delivering unparalleled customer service. Honors and awards include Best Mortgage Lender for First-Time Homebuyers by NerdWallet for 2023; HousingWire’s Tech100 award for the company’s industry-leading FlashClose℠ digital mortgage platform in 2020, MyAccount in 2022, and Language Access Program in 2023; No. 2 ranking in Scotsman Guide’s 2022 list of Top Retail Mortgage Lenders; the most Scotsman Guide Top Originators for 11 consecutive years; Chicago Agent Magazine’s Lender of the Year for seven consecutive years; and Chicago Tribune’s Top Workplaces list for seven straight years. Visit rate.com for more information.

    Press Contact

    press@rate.com

    The MIL Network –

  • MIL-OSI: Halo Investing and NewEdge Investment Solutions Deepen Ties to expand NewEdge Structured Note SMA availability on Leading Wealth Management Platforms

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Feb. 24, 2025 (GLOBE NEWSWIRE) — 2024 was a good year for markets. It was an even better year for Structured Notes, with issuance surging to another record high. Halo Investing (“Halo”), an award-winning platform for protective investing and NewEdge Investment Solutions (“NewEdge”), a GIPS-compliant—division of NewEdge Wealth, LLC with over $4 billion in assets under management, are helping fuel this growth.

    A 2023 partnership between the firms made NewEdge’s Structured Note separately managed account (SMA) Strategies available on the Halo platform. Driven by advisor demand and a sign of how quickly the market for Structured Notes is maturing, this week NewEdge announced their suite of Structured Note SMA strategies are now available on investment platforms Envestnet and SMArtX.

    “That advisors can now, with just a few simple clicks, add professionally managed Structured Note strategies, cannot be overstated,” said Matt Radgowski, Halo Investing’s CEO. “A few years ago, if an advisor wanted to add Notes to a client portfolio, it could take weeks and countless follow-ups. Those days are gone. Our partnership with NewEdge makes Structured Note investing easier than ever. If you’re still treating these products as operationally complicated, your competitors are eating your lunch.”

    “We’re proud to lead the revolution on how investors access and position Structured Notes in their portfolios,” adds NewEdge Structured Note Strategies Portfolio Manager Michaelangelo Dooley, CFP®. “The benefits of Structured Notes for suitable clients are well-documented, but client education and achieving the best execution and portfolio integration has traditionally been cumbersome for financial advisors. With Halo’s support, we are proud to offer advisors across the country our differentiated, managed solutions and provide them a better way to invest in Structured Notes.”

    With the help of NewEdge’s portfolio management expertise, Halo Investing leads the distribution and advisor onboarding of NewEdge strategies. Halo’s library of educational resources helps advisors make the most of Structured Notes. If you’re interested in learning more, please email us at marketplace.sales@haloinvesting.com, and the Halo team will follow up.

    About Halo Investing
    Founded in 2015, Halo Investing is an award-winning technology platform that disrupts how protective investment solutions are used worldwide. Headquartered in Chicago, with an office in Abu Dhabi, Halo is democratizing access to investment solutions, including Structured Notes and annuities, that were previously unavailable to most investors. Halo has received a growing number of honors and was recently named one of Fast Company’s Ten Most Innovative Companies. For more information, please visit: http://www.haloinvesting.com.

    Halo Investing, Inc. is not a broker/dealer. Securities offered through Halo Securities, LLC, a SEC registered broker/dealer and member of FINRA/SIPC. Halo Securities, LLC is affiliated with Halo Investing Insurance Services, LLC and Halo Investment Services, LLC. Halo Securities, LLC acts solely as distributor/selling agent and is not the issuer or guarantor of any structured note products.

    For media inquiries, please contact:
    Halo Investing
    Vladislav Moldavskiy
    vlad.moldavskiy@haloinvesting.com

    About NewEdge Wealth
    NewEdge Wealth is a division of NewEdge Capital Group, LLC. NewEdge Capital Group services multiple business lines and supports over 450 financial advisors servicing several thousand households, family offices and institutions. NewEdge Capital Group, LLC, a Barron’s Top 100 RIA Firm and Forbes’ America’s Top RIA Firm*, is the wealth management business unit of EdgeCo Holdings LP, which has over 900 employees.

    NewEdge Wealth is designed to meet the needs of ultra high net worth, family office and institutional clients. The division seeks to provide a select group of clients with a personalized level of service and attention designed to help organize and simplify their lives, while also providing access to an expansive menu of institutional caliber products and services — all wrapped in technology that serves as the connective tissue between the client and their advisor to create a stronger, more personal relationship. Investment advisory services are offered through NewEdge Wealth, LLC, a registered investment adviser. Securities are offered through NewEdge Securities, LLC, Member FINRA/SIPC. NewEdge and its affiliates do not render advice on legal, tax and/or tax accounting matters to clients. Each client should consult his/her personal tax and/or legal advisor to learn about any potential tax or other implications that may result from acting on a particular recommendation.

    *Barron’s rankings awarded in September 2024 based on prior 12 month data. Forbes/Shook rankings awarded in October 2024 based on data from 3/31/23-3/31/24. Neither NewEdge Wealth nor its employees pay a fee in exchange for these rankings.

    Media Inquiries
    Donald Cutler or Lorene Yue
    Haven Tower Group
    424.317.4864 or 424.317.4854
    dcutler@haventower.com or lyue@haventower.com

    The MIL Network –

  • MIL-OSI: CBAK Energy’s 32140 Cells Capture 19% of Global Market Share, Report Shows

    Source: GlobeNewswire (MIL-OSI)

    DALIAN, China, Feb. 24, 2025 (GLOBE NEWSWIRE) — CBAK Energy Technology, Inc. (NASDAQ: CBAT) (“CBAK Energy” or the “Company”), a leading manufacturer of lithium-ion and sodium-ion batteries and electric energy solutions in China, today announced its significant global market share in the rapidly growing large cylindrical battery segment, which saw remarkable growth in 2024.

    According to the latest report from Start Point Institute of Research (“SPIR Report”), global shipments of Series 32 large cylindrical batteries, which includes the Company’s 32140 cylindrical cells, surged to 102 million units in 2024, with a year-over-year increase of 14.29%. CBAK Energy played a pivotal role in this growth, delivering 19.42 million units of its 32140 large cylindrical batteries, capturing approximately 19% of the global market share of Series 32 batteries.

    The SPIR Report further noted that total global shipments of large cylindrical batteries, encompassing both Series 32 and Series 40 cylindrical cells, reached 175 million units in 2024. Of this total, CBAK Energy’s 32140 cylindrical cells accounted for an estimated 11.1% of combined global shipments, underscoring the Company’s substantial contribution to this fast-growing market.

    In addition, the SPIR Report highlighted that shipments of other cylindrical battery series, including Series 26, 46, 60, and 66, totaled 500 million units globally in 2024, with Series 26 likely comprising the largest portion. CBAK Energy also made significant strides in this segment, shipping approximately 32.04 million units of its 26650 and 26700 cylindrical batteries in 2024, which represents around 6.4% of the combined global market share.

    The global cylindrical battery market as a whole saw impressive growth in 2024, with total shipments reaching 14.61 billion units, marking a 10.9% year-over-year increase, as reported by SPIR. This surge was driven by the growing demand for large cylindrical batteries across a variety of applications, including new energy vehicles, electric two- and three-wheelers, portable power stations, power tools, and drones. CBAK Energy’s commanding market share in Series 32 batteries and large cylindrical batteries highlights the Company’s leadership in providing high-performance, reliable energy storage solutions. To meet the rising demand, both of CBAK Energy’s production lines for 32140 batteries are operating at full capacity. The Company’s 40135 cylindrical cells, classified under the Series 40 battery category, are set to be launched in 2025.

    “We are encouraged by our performance in the large cylindrical battery market in 2024,” said Zhiguang Hu, Chief Executive Officer of CBAK Energy. “The significant growth in this segment, driven by increased adoption in electric two-wheelers and portable power solutions, highlights our ability to meet the evolving needs of our customers. Our strong market share reflects our ongoing commitment to innovation, quality, and delivering exceptional energy storage solutions.”

    About CBAK Energy
    CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium batteries and raw materials for use in manufacturing high power lithium batteries. The applications of the Company’s products and solutions include electric vehicles, light electric vehicles, electric tools, energy storage, uninterruptible power supply (UPS), and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing and Shaoxing, as well as a large-scale R&D and production base in Dalian.

    For more information, please visit ir.cbak.com.cn.

    Safe Harbor Statement
    This press release contains “forward-looking statements” that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” or “will” or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.

    The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.

    For further inquiries, please contact:
    In China:
    CBAK Energy Technology, Inc.
    Investor Relations Department
    Email: ir@cbak.com.cn

    The MIL Network –

  • MIL-OSI: EnerPure Announces Successful Completion of SDTC Project

    Source: GlobeNewswire (MIL-OSI)

    Winnipeg, MB, Feb. 24, 2025 (GLOBE NEWSWIRE) — EnerPure Inc. (“EnerPure” or the “Company”), a recycling and energy transition company, is pleased to announce the successful completion of its SDTC project and receipt of its final payment under the funding agreement.

    “We are incredibly grateful to Sustainable Development Technology Canada (SDTC) for their support during the critical final stages of our technology development and the development of our market rollout plans. We set some lofty goals back in 2019 when we first entered into the agreement with SDTC, they kept us accountable to delivering into those goals while also providing financial support throughout the pandemic. The submission of the final report and receipt of the final grant installment provides further validation and confirmation of our readiness to commercially deploy our recycling plants,” commented Todd Habicht, Chairman, CEO and Founder.

    The project funding provided by SDTC enabled EnerPure to optimize and complete the development of its technology, and to advance the company’s goal of deploying 21 recycling plants in six years (our 21/6 goal). The achievement of this goal will result in the cumulative reduction of one million tonnes of GHG emissions during this six-year period. In total, STDC contributed $3.47 million in funding to the project. This SDTC funding, in conjunction with other provincial and federal grants, and our own fund-raising initiatives has resulted in ~$40m in investment over the last 15 years into the development of our state-of-the-art technology for recycling Used Motor Oil (UMO). This technology produces marine fuel that has a carbon intensity 14.6% lower than other petroleum-based marine fuels available in the market and has a sulphur content of less than 0.1%.

    On January 16, 2025, EnerPure announced the results of its recent environmental benefits study, completed as a part of our SDTC project, wherein it was noted that each EnerPure recycling plant would deliver annual GHG emission reductions of 36,315 tonnes and the elimination of 437 tonnes of CACs (Criteria Air Contaminants) per recycling plant. We remain excited about the prospects for 2025 and beyond as we work towards the deployment of our first full-scale commercial plant in Canada’s oil and gas heartland, Alberta.

    About EnerPure – https://enerpure.tech

    “We recycle Used Motor Oil (UMO) to reduce GHG emissions while producing a lower carbon-intensive marine fuel.”

    With an estimated 17 billion litres of UMO1 burned or dumped (~70% of total UMO) around the world each year, the improper disposal of UMO is a growing environmental and societal problem. EnerPure sees a tremendous opportunity to solve this problem through the deployment of its micro-scale recycling plants using its patented technology to convert UMO into high-quality marine fuel.

    Our micro-scale recycling plants have a significantly lower capex (approximately 5% of traditional solutions) which provides localized solutions for the recycling of UMO while significantly reducing the cost of collection.

    Our technology has been proven via our pilot plant with 1.6 million litres processed and validated through fuel sales of over 1.2 million litres. Our marine fuel is in high demand in this growing market due to meeting and exceeding the exacting requirements of the ISO 8217 marine fuel standard while delivering a 14.6% lower carbon intensity. Annually each recycling plant can reduce greenhouse gas (“GHG”) emissions and criteria air containments (“CAC”) by 36,315 and 437 tonnes, respectively.

    With EnerPure’s solution, environmental need meets strong economic returns to enable regional recycling of the disseminated UMO problem; we believe that recycling will fuel the energy transition.

    1UMO is defined as any petroleum-based or synthetic lubricating oil that cannot be used for its original purpose due to contamination.

    Disclosure and Caution

    This press release may contain certain disclosures that may constitute “forward-looking statements” within the meaning of Canadian securities legislation. In making the forward-looking statements, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements are subject to numerous risks, uncertainties and other factors, including but not limited to economic, capital expenditures and engineering projections, that may cause future results to differ materially from those expressed or implied in such forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

    The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

    The MIL Network –

  • MIL-OSI: FormFactor Announces the Closing of FICT Transaction

    Source: GlobeNewswire (MIL-OSI)

    LIVERMORE, Calif., Feb. 24, 2025 (GLOBE NEWSWIRE) — FormFactor, Inc. (Nasdaq: FORM) is pleased to announce the closing of its acquisition, together with North Asia private equity firm MBK Partners (“MBKP”), of FICT Limited (“FICT”). As stated on February 5th, 2025, this transaction secures FormFactor’s access to FICT’s essential technologies for advanced probe cards, strengthens the long-term partnership between the companies, and positions FICT to continue developing leading-edge technologies for its customers in the semiconductor and high-performance computing markets. 

    FormFactor invested approximately $60M for a 20% non-controlling stake and was granted a seat on the company’s board of directors. This investment is not expected to have a material impact on FormFactor’s operating results. 

    “FormFactor and MBKP are committed to the success of FICT and FICT’s customers,” commented Mike Slessor, FormFactor CEO. “This transaction solidifies our important collaboration with FICT to build world-class test and packaging consumables, and strengthens the semiconductor test supply chain serving the rapidly accelerating adoption of advanced packaging.” 

    About FormFactor:

    FormFactor, Inc. (NASDAQ: FORM), is a leading provider of essential test and measurement technologies along the full semiconductor product life cycle – from characterization, modeling, reliability, and design de-bug, to qualification and production test. Semiconductor companies rely upon FormFactor’s products and services to accelerate profitability by optimizing device performance and advancing yield knowledge. The Company serves customers through its network of facilities in Asia, Europe, and North America. For more information, visit the Company’s website at www.formfactor.com. 

    Forward-looking Statements: 

    This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the federal securities laws, including with respect to the Company’s future financial and operating results, and the Company’s plans, strategies and objectives for future operations. These statements are based on management’s current expectations and beliefs as of the date of this release, and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the expected impact of the transaction on the Company’s operating results, the expected benefit of the transaction to the Company and the industry, and other statements regarding the Company’s business. Forward-looking statements may contain words such as “may,” “might,” “will,” “expect,” “plan,” “anticipate,” “forecast,” and “continue,” the negative or plural of these words and similar expressions, and include the assumptions that underlie such statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in demand for the Company’s products; customer-specific demand; market opportunity; anticipated industry trends; the potential impact on the business of FormFactor and FICT due to uncertainties in connection with the acquisition; the retention of employees of FICT following acquisition; the ability of FormFactor to achieve expected benefits from the FICT acquisition; the availability, benefits, and speed of customer acceptance or implementation of new products and technologies; manufacturing, processing, and design capacity, goals, expansion, volumes, and progress; difficulties or delays in research and development; industry seasonality; risks to the Company’s realization of benefits from acquisitions, investments in capacity and investments in new electronic data systems and information technology; reliance on customers or third parties (including suppliers); changes in macro-economic environments; events affecting global and regional economic and market conditions and stability such as military conflicts, political volatility, infectious diseases and pandemics, and similar factors, operating separately or in combination; and other factors, including those set forth in the Company’s most current annual report on Form 10-K, quarterly reports on Form 10-Q and other filings by the Company with the U.S. Securities and Exchange Commission. In addition, there are varying barriers to international trade, including restrictive trade and export regulations such as the US-China restrictions, dynamic tariffs, trade disputes between the U.S. and other countries, and national security developments or tensions, that may substantially restrict or condition our sales to or in certain countries, increase the cost of doing business internationally, and disrupt our supply chain. No assurances can be given that any of the events anticipated by the forward-looking statements within this press release will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of the Company. Unless required by law, the Company is under no obligation (and expressly disclaims any such obligation) to update or revise its forward-looking statements whether as a result of new information, future events, or otherwise. 

    Source: FormFactor, Inc. 
    FORM-F 

    Investor Contact
    Stan Finkelstein
    Investor Relations
    (925) 290-4273
    ir@formfactor.com

    The MIL Network –

  • MIL-OSI: Baker Hughes Appoints Ahmed Moghal Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    • Experienced Baker Hughes finance leader will play key role in driving next phase of strategic transformation and growth

    HOUSTON and LONDON, Feb. 24, 2025 (GLOBE NEWSWIRE) — Baker Hughes Company (NASDAQ: BKR) (“Baker Hughes” or the “Company”) on Monday announced that Ahmed Moghal, a highly experienced finance leader who currently serves as chief financial officer (CFO) of our Industrial & Energy Technology (IET) business, has been appointed CFO of the Company, effective immediately. Prior to IET, Moghal held senior positions in various business and corporate roles. In this role, he succeeds Nancy Buese, who, by mutual agreement with the Company, ceased to serve as CFO effective today.

    Lorenzo Simonelli, Baker Hughes chairman and chief executive officer, said, “The news we are announcing today reflects the substantial progress Baker Hughes has made in executing our strategic transformation. Reflecting on the financial successes achieved during Horizon 1, we drove record results last year while taking key actions across the Company to significantly expand margins. As we progress into the next horizon, our focus remains on driving profitable growth across the Company as we further exploit our versatile IET portfolio, leverage growth across the natural gas and LNG value chain, scale our new energy and digital businesses, and drive enhanced growth in mature assets solutions.”

    He continued, “As we embark on this next phase of growth, it is crucial to have a CFO with deep-domain knowledge across both business segments, a track record of fostering collaboration and strong financial performance, and a comprehensive understanding of our growth strategy. As part of his previous roles in Baker Hughes, and as well as currently leading free cash flow efforts across the Company, Moghal has developed unique insights into our business and broad portfolio that will ensure we efficiently allocate capital to drive profitable growth while remaining focused on continuous margin improvement. We are confident he is the right person to help us deliver on our financial objectives and support a culture of innovation and a growth mindset across the Company.”

    The Company reaffirmed its first-quarter and full-year 2025 outlook shared during its 2024 fourth-quarter and full-year earnings conference call on Jan. 31, 2025. This includes projecting another solid year of EBITDA growth, achieving a 20% EBITDA margin for its OFSE segment in 2025 and the IET segment in 2026, and committed to returning 60% to 80% of free cash flow to shareholders.

    With Moghal’s appointment, Buese will move to a strategic adviser role and will depart the Company on April 30, 2025.

    Simonelli added, “We are grateful to Nancy for the important role she played in executing on key pillars of the first phase of our transformation, including driving operational efficiency and achieving cost reduction objectives to deliver enhanced margin growth and shareholder returns. We wish her all the best in her future endeavors.”

    Moghal has served as senior vice president & CFO of the Industrial and Energy Technology business of Baker Hughes since 2023. Prior to this role, he was appointed as the financial planning & analysis leader at the time of the merger of Baker Hughes and GE Oil & Gas in 2017. In his more than two decades of experience, Moghal has worked in several industries globally, driving performance across multiple business models and cycles. He started his career in GE in the Financial Management Program and subsequently Corporate Audit Staff.

    About Baker Hughes:

    Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

    For more information, please contact:

    Investor Relations

    Chase Mulvehill
    +1 346-297-2561
    investor.relations@bakerhughes.com

    Media Relations

    Adrienne M. Lynch
    +1 713-906-8407
    adrienne.lynch@bakerhughes.com

    The MIL Network –

  • MIL-OSI: JAMining Launches Limited-Time High-Yield Bitcoin Cloud Mining Plan with an Opportunity to Earn up to $10,850 Daily

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 24, 2025 (GLOBE NEWSWIRE) — JAMining has announced the launch of its exclusive high-yield Bitcoin cloud mining plan, available for a limited time. This new plan offers users the opportunity to earn up to $10,850 per day without the need for expensive hardware or technical expertise. As cloud mining gains popularity as a passive income stream, JAMining’s latest offering stands out as a timely opportunity for both novice and experienced investors to capitalize on the growing crypto market.

    How to Easily Start JAMining Free Cloud Mining？

    Cloud mining is a simple and secure way to invest in cryptocurrency, perfect for investors of all levels. Whether you are a beginner or an experienced investor, you can follow the steps below to get started quickly：

    “Start making money”

    1. Register a JAMining account

    Click the “Get Your $100” button and follow the simple steps to complete the registration and start your cloud mining journey

    2. Select a contract plan

    JAMining provides flexible contract plans to meet the needs of different investors and help you achieve your ideal profit goals. The following are some contract examples:

    Contract Amount Duration Daily Profit Total Income Total Return (Principal + Income)
    $100 1 day 1% $1 $100 + $1
    $200 2 days 3.5% $7 $200 + $7
    $500 3 days 1.8% $9 $500 + $27
    $1000 5 days 1.9% $19 $1000 + $95
    $2600 10 days 1.95% $50.70 $2600 + $507
    $10000 20 days 2.1% $210 $10000 + $4200
             

    3. Monitor earnings

    Your daily income will be automatically settled within 24 hours and updated to your account in real time. You can check your income at any time.

    4. Invite friends to make money

    Invite friends to register and purchase computing power through exclusive invitation codes. You can not only increase your friends’ income, but also get an additional 7% referral reward.

    Affiliate Program Highlights:

    Long-term benefits: The referrer can continue to profit from every investment of the referred user, no matter when it occurs.
    Simple promotion: With the exclusive invitation code, the referrer can easily invite friends to join the platform.
    Win-win: Not only help others enter the cryptocurrency field, but also achieve personal wealth growth.

    Why choose JAMining？

    Advanced technical support

    JAMining platform uses the latest mining technology and efficient hardware equipment to provide users with high-yield, low-cost mining services, covering mainstream cryptocurrencies such as Bitcoin and Ethereum.

    Flexible investment options

    Whether you are a novice small investor or a large-scale fund manager, JAMining can provide you with a tailor-made mining plan to help you maximize your profits.

    24/7 security guarantee

    The platform uses distributed storage, data encryption and multiple firewall technologies to ensure the security of your assets. In addition, JAMining provides 24-hour customer support to answer your questions at any time.

    International (FCA) certification guarantee

    JAMining platform has been certified by the UK Financial Conduct Authority (FCA), which means that the platform has reached international standards in terms of security and compliance, greatly enhancing user trust

    Summarize

    JAMining provides an efficient source of passive income through an easy-to-understand contract purchase method. Whether you are a novice in cryptocurrency or an experienced investor, you can quickly get started on this platform and start automatically growing your crypto assets. JAMining will continue to optimize the platform functions to bring more investment opportunities and value to global users.

    Official Website: https://jamining.com/

    Email: info@jamining.com

    Contact: Apostolakis

    Disclaimer: This press release is provided by JAMining. The statements, views, and opinions expressed in this content are solely those of JAMining and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in cloud mining and related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/44a94024-5458-46c9-90f5-1858fd4f7d46
    https://www.globenewswire.com/NewsRoom/AttachmentNg/c9403551-81ba-49b0-b712-81cada9f484d
    https://www.globenewswire.com/NewsRoom/AttachmentNg/a9dd8cba-49b2-45d9-9852-831b846b66f6

    The MIL Network –

  • MIL-OSI: Federal Home Loan Bank of Atlanta Commits $60 Million for Homeownership Grants

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, Feb. 24, 2025 (GLOBE NEWSWIRE) — The Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it is making $60 million in grant funding available through two enhanced programs to help families and individuals purchase or rehabilitate a home. Financial institutions that are members of FHLBank Atlanta can apply for funding to distribute to eligible customers beginning today, Feb. 24, 2025.

    “We are pleased to expand our support for homebuyers and homeowners this year, especially in light of challenges including high home prices and recent natural disasters,” said FHLBank Atlanta President and CEO Kirk Malmberg. “These programs have been designed to assist both first-time and repeat homebuyers, low- and moderate-income families, members of public service occupations, and those in declared emergency areas. We anticipate this funding will significantly impact the lives of thousands of people.”  

    FHLBank Atlanta is committing $40 million through its 2025 Affordable Housing Program (AHP) Homeownership Set-aside Program. Each member financial institution can access up to $750,000 to distribute through three products:

    • First-time Homebuyer: Provides up to $17,500 in downpayment, closing cost, or rehabilitation assistance to first-time homebuyers in connection with the purchase of an existing home. This is an increase from $12,500 offered in 2024.
    • Community Partners: Provides up to $20,000 in downpayment, closing cost, counseling, or rehabilitation assistance in connection with the purchase or purchase and rehabilitation of an existing home by employed or retired law enforcement officers, educators, firefighters, health care workers, veterans and surviving spouses, and other first responders. This is an increase from $15,000 offered in 2024.
    • Community Rebuild and Restore: Provides up to $25,000 in funding for the rehabilitation of an existing owner-occupied home in Major Disaster Declaration areas as designated by the Federal Emergency Management Agency (FEMA) or by a local, state, or other federal government agency. This funding per unit is up from $10,000 in 2024.

    FHLBank Atlanta is contributing $20 million to promote affordable housing through its Workforce Housing Plus+ Program, developed for borrowers with incomes between 80.01% and 120% of the area median income (AMI).

    • Member financial institutions can access up to $500,000 each and disburse grants up to $15,000 per eligible borrower for downpayment and closing costs.
    • Homes must be the primary residence of each grant recipient and located in FHLBank Atlanta’s district, which includes Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia.

    “As a member of FHLBank Atlanta, we have access to a range of affordable housing programs, including downpayment assistance, which reduces barriers to homeownership for many people,” said Paul Phillips, President and CEO of Freedom First Federal Credit Union. “By applying for FHLBank Atlanta funding to distribute, we are creating a ripple effect of positive change – empowering local individuals and families to invest in their futures and build generational wealth while strengthening communities. As a community development financial institution (CDFI), these programs are a powerful way that we fulfill our mission to help people prosper and help communities thrive.”

    Visit the FHLBank Atlanta website for full detail and eligibility requirements for the 2025 Homeownership Set-aside Program and Workforce Housing Plus+ Program. Funds to member institutions are available on a first-come, first-served basis. Borrower contribution and credit counseling are required for most products.

    If you need assistance connecting with a member financial institution, or for more information, call the Bank’s Community Investment Services department at 1.800.536.9650, option 3.

    About FHLBank Atlanta
    FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank’s members – its shareholders and customers – are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district Banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $9.1 billion in Affordable Housing Program funds, assisting more than 1.2 million households.

    For more information, visit our website at www.fhlbatl.com.

    CONTACT: Sheryl Touchton
    Federal Home Loan Bank of Atlanta
    stouchton@fhlbatl.com

    The MIL Network –

  • MIL-OSI Global: How Elon Musk’s deep ties to – and admiration for – China could complicate Trump’s Beijing policy

    Source: The Conversation – USA – By Linggong Kong, Ph.D. Student, Auburn University

    Elon Musk holds an outsized influence in the new Trump administration.

    As head of his Department of Government Efficiency, or DOGE, the world’s wealthiest man has enjoyed nearly unfettered political power in slashing and refashioning the federal government as he sees fit. And it has quickly become clear that he has the president’s ear on issues beyond that brief.

    But on one topic, Musk stands somewhat apart from others in the coterie of aides and advisers around Trump: China. In contrast to the many hawks in the new Trump cabinet who call for a hard-line approach on China, Musk is a striking outlier.

    As an expert on China-U.S. relations who has monitored Musk’s views on China, I don’t find his long history of espousing pro-Chinese sentiment surprising, given that he has sought throughout to get a business hold in the country.

    But those entanglements are worth scrutiny, given Musk’s role in the Trump administration at a time when one of America’s biggest foreign policy challenges is how to manage its relationship with Beijing.

    Musk’s journey to the East

    For years, Musk has had significant business interests in China, with Tesla’s Shanghai factory, Tesla Giga Shanghai, playing a crucial role in the company’s global operations.

    Since its opening in 2019, the Shanghai plant has surpassed Tesla’s Fremont, California, facility in both size and productivity, now accounting for more than half of the company’s global deliveries and a majority of its profits. Moreover, nearly 40% of Tesla’s battery supply chain relies on Chinese companies, and these partnerships continue to expand.

    Elon Musk walks with Shanghai Mayor Ying Yong during the groundbreaking ceremony for a Tesla factory in Shanghai on Jan. 7, 2019.
    STR/AFP via Getty Images

    Notably, Tesla was the first foreign automaker permitted to establish operations in China without a local partner, following a change in ownership regulations. The Shanghai factory was constructed with the support of US$1.4 billion in loans from Chinese state-owned banks, granted at favorable interest rates.

    Between 2019 and 2023, the Shanghai government also provided Tesla with a reduced corporate tax rate of 15% – 10 percentage points lower than the standard rate.

    The cost advantages of manufacturing in Shanghai, which include lower production and labor expenses, have further cemented Tesla’s reliance on the Chinese market.

    Given that Musk’s wealth is largely tied to Tesla stock, his financial standing is increasingly dependent on the company’s fortunes in China, making any potential disengagement from the country both economically and strategically challenging.

    Tesla’s continued investment in China underscores this dependency. On Feb. 11, 2025, the company opened its second factory in Shanghai — a $200 million plant that is set to produce 10,000 megapack batteries annually. It’s the company’s first megapack battery factory outside the U.S..

    This investment deepens Tesla’s presence in China amid a new wave of U.S.-China trade tensions. On Feb. 1, the Trump administration imposed a 10% tariff on Chinese imports, prompting Beijing’s retaliation with tariffs on American coal, liquefied natural gas, agricultural equipment and crude oil.

    A Chinese fan

    It remains unclear to what extent Musk’s financial interests in China will translate to real influence over the Trump administration’s policy toward Beijing. But Musk’s long history of pro-China remarks suggests the direction he wants the administration to move.

    During his visit to Beijing in April 2024, Musk praised the country, noting also: “I also have a lot of fans in China – well, the feeling is mutual.”

    His admiration appears to hinge in part on how he views business and labor practices in China. In that vein, Musk has criticized American workers as lazy and has faced U.S. labor law disputes, while simultaneously praising Chinese workers for “burning the 3 a.m. oil” under an intensely repressive labor system.

    In numerous posts on the social media platform X, formerly Twitter, which he owns, Musk has also praised China’s infrastructure and high-speed rail system, lauded its space program, applauded its leadership in global green energy initiatives and urged his followers to visit the country.

    Musk has also opposed U.S. efforts to decouple from China, describing the countries’ economies as “conjoined twins,” despite a sizable part of the foreign policy establishment in the West viewing decreased dependency on China as necessary for security interests amid rising geopolitical tensions.

    On the issue of Taiwan, the most dangerous flashpoint in U.S.-China relations, Musk has compared Taiwan to Hawaii, arguing that it is an integral part of China and noting that the U.S. Pacific Fleet has prevented mainland China from achieving reunification by force.

    Musk further suggested that the Taiwan dispute could be resolved by allowing China to establish Taiwan as a special administrative zone, similar to Hong Kong.

    His remarks were shared and welcomed by China’s then-ambassador to the U.S., who, in a post on X, emphasized China’s so-called peaceful unification strategy and advocated for the “one country, two systems” model.

    Trump’s back-channel envoy?

    The big question going forward is how Musk’s financial stakes in, and stated admiration for, China will translate into attempts to influence the U.S. administration’s China policy, particularly given Musk’s unconventional advisory role and the strong faction of anti-China hawks in Trumpworld.

    Given Musk’s approach to China, it’s hard to see him not trying to use his influence with the president to push for somewhat warmer relations with Beijing.

    If such counsel were heeded, it’s easy to envision Musk leveraging his deep ties to China, particularly his close personal relationship with China’s current second-ranking official, Premier Li Qiang, who was the Shanghai party chief when Tesla’s factory was built. In the scenario, Donald Trump could tap Musk as a back channel for diplomacy to ease U.S.-China tensions and facilitate bilateral cooperation when needed.

    To this point, it was, perhaps, telling that it was Musk who met with China President Xi Jinping’s envoy to Trump’s inauguration, Vice President Han Zheng, on the eve of the event.

    But it’s far from certain that Trump wants that diplomatic role for Musk, or that other voices won’t win out with regard to Beijing. In his first term, Trump launched an unprecedented trade war and tech blockade against China, fundamentally reshaping U.S.-China relations and pushing the U.S. toward something of a bipartisan consensus to counter Beijing that has existed for several years.

    Trump’s tariff moves and second-term picks for top trade and commerce roles, like Peter Navarro and Jamieson Greer — who played key roles in the trade war against China during the president’s first term — suggest that Trump’s commitment to further decoupling from China remains strong.

    Furthermore, Musk’s business interests and personal wealth tied to China could leave him vulnerable to Chinese influence. By leaning on Musk’s close ties with Trump, China could use his dependence on the Chinese market as a bargaining chip to pressure Trump into making concessions on issues of major strategic importance to Beijing.

    China has a history of coercing foreign companies reliant on its market into making compromises on matters concerning its national interests. For instance, Apple removed virtual private network apps from its app store in China at the government’s request. Similarly, Tesla could face comparable pressure in the future if Beijing wants to use Musk as a cudgel to influence policy in the Trump administration. Notably, as the head of DOGE, with access to sensitive data from multiple agencies, Musk could find himself caught between U.S. security scrutiny and China’s strategic targeting.

    So long as Musk retains the influence with Trump that he holds now, it’s conceivable that his pro-China sentiments will translate into attempts to influence government policy. Yet even if this is to be the case, whether those efforts succeed will depend on the president and his other advisers, many of whom are seeking an aggressive front against Beijing and are likely to view Musk as an impediment rather than ally in that fight to come.

    Linggong Kong does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. How Elon Musk’s deep ties to – and admiration for – China could complicate Trump’s Beijing policy – https://theconversation.com/how-elon-musks-deep-ties-to-and-admiration-for-china-could-complicate-trumps-beijing-policy-249988

    MIL OSI – Global Reports –

  • MIL-OSI China: China’s draft law prohibits arbitrary fines on private enterprises

    Source: People’s Republic of China – State Council News

    BEIJING, Feb. 24 — Chinese lawmakers on Monday began deliberations on the draft private economy promotion law, which adds new provisions prohibiting arbitrary fees and fines on private enterprises.

    The draft law was submitted on Monday to an ongoing session of the Standing Committee of the National People’s Congress, China’s top legislature, for a second reading. The first reading took place in December 2024.

    The draft bans the forced collection of funds or material donations from private enterprises and specifies that multiple inspection items of the same inspection target should be consolidated whenever possible or included within the scope of cross-departmental joint inspections.

    The second draft also includes provisions requiring the State Council and local people’s governments at or above the county level to regularly report to the standing committees of the people’s congresses of their corresponding level on the promotion of the private economy.

    It also requires relevant industry associations and chambers of commerce to fulfill their coordinating and self-regulatory roles in accordance with laws, regulations, and their charters. They are expected to promptly reflect industry demands and provide services in areas such as information consulting, training, market expansion, rights protection, and dispute resolution for private companies and entrepreneurs, per the draft.

    MIL OSI China News –

  • MIL-OSI United Kingdom: OSCE Reinforced Permanent Council, February 2025: UK statement

    Source: United Kingdom – Executive Government & Departments

    Speech

    OSCE Reinforced Permanent Council, February 2025: UK statement

    UK Foreign Secretary, David Lammy, addresses a Reinforced meeting of the OSCE Permanent Council on the third anniversary of Russia’s full-scale invasion and underlines continued UK support for Ukraine.

    Three years ago, when Putin unleashed his full-scale invasion of Ukraine in a clear breach of the UN charter, he expected a swift victory.  What he got instead was a catastrophic failure.

    Putin’s imperial ambitions have killed and injured close to a million in his own forces and driven its economy into the ground.  The rouble is plummeting, inflation is soaring, and the deficit at record levels.  All for a war that he thought would be over in three days.

    The extent of death, destruction, and suffering caused by one man’s selfish ambition is staggering.  Tens of thousands of Ukrainians have been killed and millions more injured, displaced, and in need of urgent help as civilians are relentlessly attacked.

    Repeated findings of the Moscow Mechanism and other independent reports document Russian atrocities.  There are increasing reports of Russian forces deporting children and using rape, torture and execution as weapons of war.  The OSCE is playing a crucial role in securing justice for survivors and victims. 

    Yet, in the face of this brutality, Ukrainians continue to defend their homeland with extraordinary courage and ingenuity.  This proves that, with the right support, they can defy Putin’s barbarism.

    The UK has been at the forefront of this effort from day one.  Our military support worth £3 billion a year is putting Ukraine in the strongest possible position.  And our new 100 Year Partnership cements our unwavering commitment for generations to come.

    Make no mistake, Putin’s invasion violates laws and principles which underpin Euro-Atlantic security – including the Helsinki Final Act.

    Laws which Russia itself signed up to, and we cannot allow such aggression to succeed.

    The days ahead will determine the future security of our continent.  This is the moment for all of us to step up.  Because it is the right thing to do for the values we hold dear and because it is fundamental to European security.

    That’s why the UK will stand with Ukraine—today, tomorrow, and for generations to come.

    Updates to this page

    Published 24 February 2025

    Invasion of Ukraine

    MIL OSI United Kingdom –

  • MIL-OSI: Foresight Ventures Commits $25 Million to Incubate Innovation on BNB Chain

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Feb. 24, 2025 (GLOBE NEWSWIRE) —

    Foresight Ventures, a leading global crypto-focused venture capital firm, has announced its commitment of up to $25 million to support live projects on the BNB Chain throughout 2025 as part of the BNB Incubation Alliance (“BIA”). This collaboration underscores Foresight Ventures’ dedication to fostering innovation and empowering early-stage blockchain initiatives.

    As an alliance member of BIA, Foresight Ventures will have the opportunity to invest in standout projects, identifying high-potential ventures early in their development. The BNB Incubation Alliance, launched by BNB Chain and YZi Labs (formerly Binance Labs), serves as a dynamic accelerator for early-stage Web3 projects. Through an interconnected ecosystem of resources, mentorship, and strategic partnerships, BIA is poised to redefine how emerging blockchain ventures achieve sustainable growth and impactful deployment.

    BIA features a comprehensive support framework that includes access to the Most Valuable Builder (MVB) program, potential YZi Labs funding opportunities, and BNB Chain grants. Selected projects will also benefit from the innovative Launch-as-a-Service (LaaS) package, streamlining their development journey within the BNB ecosystem. By creating this pipeline of tools and resources, BIA is positioned to catalyze the next wave of industry-leading Web3 projects.

    Forest Bai, Co-Founder of Foresight Ventures, commented:
    “Our commitment to supporting projects in the BNB Incubation Alliance reflects our enduring mission to support visionary entrepreneurs and emerging blockchain projects. By backing projects within BIA, we aim to bridge promising ideas with the essential resources and networks they need to thrive. This collaboration reinforces our belief in the transformative power of blockchain technology and our responsibility to foster its adoption globally.”

    The BNB Chain Core Development Team expressed: “The BNB Chain ecosystem continuously works to catalyze projects’ success through initiatives like BIA from ideation to maturity and ecosystem incentives, empowering builders to succeed and thrive.”

    The BNB Incubation Alliance will conduct a series of global events designed to showcase early-stage projects and connect them with industry leaders, investors, and experts. These events will spotlight ventures in incubation, offering unparalleled opportunities for collaboration and knowledge exchange. The criteria for project selection prioritize innovation, scalability, and a strong alignment with the ecosystem’s objectives.

    As a pioneer in bridging East and West within the crypto sector, Foresight Ventures brings unparalleled insights and a robust network to the alliance. Its commitment reflects a desire to catalyze blockchain innovation across borders.

    About Foresight Ventures

    Foresight Ventures is the first and only crypto VC bridging East and West. With a research-driven approach and offices in the US and Singapore, they are a powerhouse in crypto investment and incubation. Their premier media network includes The Block, Foresight News, BlockTempo, and Coinness. They invest in bold innovations and are committed to reshaping the future of digital finance by supporting visionary founders and groundbreaking projects.
    For more information, users can visit: Website | Twitter | LinkedIn
    For media inquiries, users may contact: media@foresightventures.com

    Contact

    PR team
    media@foresightventures.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a82f5c1a-54f8-49dc-9925-29ba71f9d9df

    The MIL Network –

  • MIL-OSI: Blockchain is Growing Fast, and Cloud Mining is a Popular Investment – ION Mining Expands Global Operations with High-Yield Contracts

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 24, 2025 (GLOBE NEWSWIRE) — ION Mining, a leading global cloud mining platform, is excited to announce its latest cloud mining plans for 2025, designed to offer investors and cryptocurrency enthusiasts higher returns, enhanced sustainability, and greater accessibility. With the rapid expansion of the cryptocurrency market, ION Mining continues to revolutionize Bitcoin and Ethereum mining with cutting-edge technology and environmentally friendly solutions.

    Introducing New High-Yield Mining Contracts

    To meet the growing demand for secure and profitable cloud mining, ION Mining has launched exclusive 2025 mining contracts, offering competitive returns and a seamless user experience:

    • Basic Cloud Computing Plan – Invest $300, earn $27.3 in 5 days
    • Classic Cloud Computing Plan – Invest $1,200, earn $388.8 in 15 days
    • Advanced Cloud Computing Plan – Invest $5,000, earn $1,155 in 10 days
    • Super Cloud Computing Plan – Invest $11,000, earn $8,118 in 30 days

    Each contract ensures a full return of the initial investment at the end of the term, allowing users to reinvest or withdraw their earnings with complete flexibility.

    Why Choose ION Mining?

    Founded in 2017 and headquartered in the UK, ION Mining is authorized and regulated by the UK Financial Services Authority (FCA), providing a secure and compliant platform for users worldwide. With over 100 global data centers across North America, Eastern Europe, the Middle East, and South America, ION Mining guarantees a stable and transparent mining environment.

    Key benefits of ION Mining include:

    • Instant Access & Zero-Cost Trial – New users receive a $15 bonus upon registration, allowing them to test the platform risk-free.
    • State-of-the-Art Technology – Utilizing industry-leading mining hardware such as Bitmain and NVIDIA for maximum efficiency.
    • Eco-Friendly Mining Operations – Powered by renewable energy sources, reducing environmental impact and operational costs.
    • No Hidden Fees – Transparent pricing structure with no unexpected maintenance or withdrawal charges.

    A Sustainable Future in Cryptocurrency Mining

    As part of its commitment to sustainability, ION Mining is expanding its use of green energy solutions, ensuring an eco-conscious approach to cryptocurrency mining. By leveraging solar and wind power, ION Mining reduces carbon footprints while maintaining profitability for its users.

    Join ION Mining and Start Earning Today!

    ION Mining provides a secure, efficient, and lucrative solution for individuals looking to generate passive income in the cryptocurrency space. Whether you’re a beginner or an experienced investor, ION Mining’s flexible plans cater to all financial goals. Don’t miss the opportunity to be part of the next evolution in cloud mining.

    For more information and to start mining today, visit: https://ionmining.com/

    Contact:
    Email: info@ionmining.com
    Website: https://ionmining.com/

    About ION Mining:
    ION Mining is a global leader in cloud mining solutions, offering secure, efficient, and sustainable cryptocurrency mining services. Established in 2017, ION Mining is fully regulated and continues to set industry standards in innovation and transparency.

    Disclaimer: This press release is provided by ION Mining. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Investing in cloud mining and related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/1fec530c-720f-4cda-ad75-9ef83f4e7ebb

    https://www.globenewswire.com/NewsRoom/AttachmentNg/fb1d4172-f7c7-47cb-a4e2-d008a395d950

    https://www.globenewswire.com/NewsRoom/AttachmentNg/f981166c-5cbc-4ddd-bf3d-17ce8638dc31

    The MIL Network –

  • MIL-OSI: Abacus Life Announces Private Exchange of Outstanding Public Warrants

    Source: GlobeNewswire (MIL-OSI)

    ORLANDO, Fla., Feb. 24, 2025 (GLOBE NEWSWIRE) — Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a pioneering alternative asset manager specializing in leveraging longevity and actuarial technology to offer uncorrelated investment opportunities, today announced that it has entered into warrant exchange agreements (each, an “Exchange Agreement”) with certain holders (the “Holders”) of its outstanding publicly traded warrants (the “Public Warrants”) to purchase shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”). Pursuant to their respective Exchange Agreements, the Holders agreed to surrender an aggregate of 4,930,745 Public Warrants in exchange for an aggregate of 1,134,071 shares of newly issued Common Stock, representing a ratio of 0.23 shares per warrant.1

    The Public Warrants to purchase shares of Common Stock from the Company were issued in connection with the Company’s initial public offering and entitle holders to purchase up to 17,250,000 shares of Common Stock, at an exercise price of $11.50 per share. Each redeemable whole Public Warrant entitles the holder thereof to purchase one share of common stock at a price of $11.50 per full share, subject to adjustment as described in the warrant agreement pursuant to which the Public Warrants were originally issued. The Public Warrants represent a freestanding financial instrument traded on The Nasdaq Stock Market LLC under the symbol “ABLLW” and are legally detachable and separately exercisable from the related underlying shares of Common Stock.

    About Abacus

    Abacus is a pioneering global alternative asset manager and market maker specializing in uncorrelated financial products. The Company leverages its longevity data and actuarial technology to purchase life insurance policies from consumers seeking liquidity. This creates a high-return asset class uncorrelated to market fluctuations for institutional investors.

    With nearly $3 billion in assets under management, including pending acquisitions, Abacus is the only publicly traded global alternative asset manager focused on lifespan-based financial products.

    Forward Looking Statements

    All statements in this press release (and oral statements made regarding the subjects of this press release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Abacus. Forward-looking information includes but is not limited to statements regarding the proposed transaction, including the expected closing of the proposed transaction; Abacus’s financial and operational outlook; Abacus’s operational and financial strategies, including planned growth initiatives and the benefits thereof, Abacus’s ability to successfully effect those strategies, and the expected results therefrom. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “expect,” ‎‎”intend,” “anticipate,” “goals,” “prospects,” “will,” “would,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).

    While Abacus believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: the ‎fact that Abacus’s loss reserves are bases on estimates and may be inadequate to cover ‎its actual losses; the failure to properly price Abacus’s insurance policies; the ‎geographic concentration of Abacus’s business; the cyclical nature of Abacus’s industry; the ‎impact of regulation on Abacus’s business; the effects of competition on Abacus’s business; the failure of ‎Abacus’s relationships with independent agencies; the failure to meet Abacus’s investment ‎objectives; the inability to raise capital on favorable terms or at all; the ‎effects of acts of terrorism; and the effectiveness of Abacus’s control environment, including the identification of control deficiencies.

    These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties set forth in documents filed by Abacus with ‎the SEC from time to time, including the Annual ‎Report on Form 10-K, as amended, and Quarterly Reports on Form 10-Q and subsequent ‎periodic reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Abacus cautions you not to place undue reliance on the ‎forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Abacus assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Abacus does not give any assurance that it will achieve its expectations.

    Contacts:

    Robert Phillips – SVP Investor Relations
    rob@abacuslife.com
    (321) 290-1198

    David Jackson – IR/Capital Markets Associate
    djackson@abacuslife.com
    (321) 299-0716

    Abacus Life Public Relations
    press@abacuslife.com

    ________________________________
    1     Bracketed figures to be confirmed.

    The MIL Network –

  • MIL-OSI Russia: All-Russian seminar on land management, cadastres and geodesy was held at SPbGASU

    Translartion. Region: Russians Fedetion –

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Seminar participants

    On February 20–21, the Department of Geodesy, Land Management and Cadastre of SPbGASU held the National (All-Russian) scientific and practical seminar “Current issues of land management, cadastres and geodesy”. More than 50 undergraduate, graduate and postgraduate students and young scientists from different cities of Russia took part in its work.

    “The reports were devoted to developments in the field of cadastral and market valuation, law enforcement practice of implementing current legislative norms in terms of clarifying the boundaries of land plots. These topics are very relevant in connection with the need to improve regulation in this area. In addition, we presented the interim results of one of the projects within the framework of the SPbGASU program “Startup as a Diploma”: we are talking about the development of an automated system for ensuring cadastral activities,” noted acting head of the department Yana Volkova.

    St. Petersburg State University of Architecture and Civil Engineering student Daria Mineeva (fourth year in the field of Land Management and Cadastres) admits that she did not choose the topic of her report “Provision of land plots to preferential categories of citizens using the example of Chelyabinsk” by chance.

    “The topic is close to me because I am a native of this city and I know very well how sad the environmental situation is there, taking into account the impact of sanitary protection zones of industrial enterprises. Due to the large territories of these zones, the number of land plots for residential development is not increasing. According to the city administration, there are only 13 plots for 850 families. In order to find an opportunity to increase the number of the latter, I am developing a mechanism for providing plots, including a search for lands of undivided ownership, that is, without title documents. In a special information system on the map, I clearly marked the current boundaries of Chelyabinsk, noted the main enterprises with a high level of danger. Thus, you can get the location zones of these plots with one click. It became obvious that the territory allows you to increase the number of plots several times if you solve the labor-intensive issue of determining the location of sanitary zones according to modern requirements. In addition, in the system, citizens can check the characteristics and location of plots. The development will allow us to solve several problems at once: increase the number of sites and the quality of life of city residents, which, in turn, will lead to a decrease in the high level of morbidity,” explained Daria Mineeva.

    Vera Voronetskaya (in the foreground)

    Vera Voronetskaya, a first-year postgraduate student at the Department of Land Management and Cadastre at the Saint Petersburg Mining University, presented her research on the topic of “Establishing a zone of negative environmental impact of a solid waste landfill on the human habitat for the purposes of individual real estate assessment.”

    “The topic is relevant: landfills pollute the soil, ground and surface water, the atmosphere, and emit unpleasant odors. All these factors reduce the quality of the living environment, which entails losses for owners of real estate located near landfills. These losses must be taken into account. I propose developing a methodology for assessing the environmental impact of landfills in order to determine the zone of their negative impact, and then a methodology for calculating losses,” Vera Voronetskaya said.

    According to Yana Volkova, the exchange of relevant scientific and technical information and the identification of key trends in the industry became a good incentive for students to conduct independent research work in accordance with the topics proposed by representatives of the real sector of the economy.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Europe: EU reaffirms unwavering support to Ukraine on anniversary of invasion

    Source: European Union 2

    In February 2022, Russia launched a full-scale invasion of Ukraine. The EU reacted swiftly and decisively, condemning Russia’s unprovoked and unjustified aggression, imposing wide-ranging sanctions, and offering Ukraine its unwavering support. The EU remains committed to supporting Ukraine until it achieves a just and lasting peace. 

    Strong and comprehensive EU response 

    The EU has provided almost €135 billion in support to Ukraine, including economic, military, financial, and humanitarian aid. It continues to work with international partners to ensure sustained support and hold Russia accountable.  

    Hard-hitting sanctions have significantly weakened Russia’s economy and war capabilities. The EU is also working to ensure those responsible for war crimes face justice through the International Centre for the Prosecution of the Crime of Aggression against Ukraine in The Hague. 

    Peace, reconstruction, and Ukraine’s European future 

    On the third anniversary of the invasion, President von der Leyen and the College of Commissioners are visiting Kyiv. The President is meeting with Ukrainian President Volodymyr Zelenskyy, and together, they are co-chairing a College-to-Government meeting to discuss Ukraine’s future as a free and sovereign nation.  

    The EU continues to work with Ukraine on its EU accession process. Ukraine’s progress towards EU membership reflects the will of its people for democratic reforms and a European future.  

    After the war, Ukraine will require extensive reconstruction. The EU has been actively contributing to the country’s resilience and recovery, but further support will be needed to rebuild a free and prosperous country, anchored in European values and well-integrated into the European and global economy.  

    For more information 

    EU solidarity with Ukraine 

    MIL OSI Europe News –

  • MIL-OSI: reAlpha Acquires GTG Financial, Inc.

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, Ohio, Feb. 24, 2025 (GLOBE NEWSWIRE) — reAlpha Tech Corp. (“reAlpha”) (Nasdaq: AIRE), a real estate technology company developing and commercializing artificial intelligence (“AI”) technologies, today announced the acquisition of GTG Financial, Inc. (“GTG Financial”), a mortgage brokerage company founded by Glenn Groves, a U.S. Marine and industry leader. GTG Financial is licensed to operate in seven U.S. states, including California, which will expand reAlpha’s geographic footprint to a total of 28 U.S. states and strengthen its operational capacity.

    The acquisition of GTG Financial marks another step in reAlpha’s strategy to further enhance its mortgage operations and provide a more seamless home financing experience within the reAlpha platform, its AI-powered real estate platform. By incorporating GTG Financial’s experience in the real estate industry and its added workforce of loan officers, reAlpha anticipates that it will be able to bolster its overall operational capacity, expand its loan processing capabilities and offer mortgage lending and refinancing services to homebuyers more efficiently.

    “We are excited to welcome GTG Financial to the reAlpha group,” said Piyush Phadke, Chief Financial Officer of reAlpha. “This acquisition will strengthen our mortgage operations, allowing us to scale and more efficiently provide lending services through our AI-powered homebuying platform. By acquiring GTG Financial, we are continuing to advance our vision of a fully streamlined, technology-driven real estate experience.”

    GTG Financial will retain its brand identity under the leadership of its founder, Glenn Groves, while leveraging reAlpha’s resources and generative AI platform, which is expected to enhance loan processing efficiency and support a more seamless home financing experience.

    Glenn Groves, Chief Executive Officer of GTG Financial, added: “I believe that reAlpha’s AI-driven platform is redefining real estate by simplifying and eliminating traditional barriers in the homebuying process. We’re proud to be part of this transformation and committed to driving its long-term success. GTG Financial will be officially powered by Be My Neighbor, one of reAlpha’s subsidiaries, strengthening our mortgage services and operational efficiency.”

    Christopher Griffith, Chief Executive Officer of Be My Neighbor, and a fellow U.S. Marine, echoed the sentiment: “Real success in M&A comes from aligned leadership. I believe that, as Marines, Glenn and I share the same values of discipline, integrity and execution, making this partnership a natural fit.”

    For additional details concerning the terms of the acquisition of GTG Financial, please refer to reAlpha’s Current Report on Form 8-K, which will be filed with the U.S. Securities and Exchange Commission (the “SEC”).

    About GTG Financial Inc.

    GTG Financial, Inc. is a mortgage brokerage company founded by Glenn Groves, committed to helping individuals and families achieve their homeownership dreams, with a focus on transparency, customer service, and financial empowerment.

    About reAlpha Tech Corp.

    reAlpha Tech Corp. (Nasdaq: AIRE) is a real estate technology company developing an end-to-end commission-free homebuying platform. Utilizing the power of AI and an acquisition-led growth strategy, reAlpha aims to offer an affordable, streamlined experience for homebuyers. For more information, visit www.reAlpha.com.

    About the reAlpha Platform

    reAlpha’s AI-powered, commission-free homebuying platform enables buyers to navigate the homebuying process with ease. With the tagline “No Fees. Just Keys.™”, reAlpha is dedicated to eliminating traditional barriers and making homeownership more accessible and transparent. The platform’s generative AI assistant, “Claire,” supports homebuyers throughout the journey, from property search to closing, offering insights, market trends, and 24/7 assistance.

    Forward-Looking Statements

    The information in this press release includes “forward-looking statements”. Forward-looking statements include, among other things, statements about the GTG Financial acquisition; the anticipated benefits of the GTG Financial acquisition; reAlpha’s ability to anticipate the future needs of the short-term rental market; future trends in the real estate, technology and artificial intelligence industries, generally; and reAlpha’s future growth strategy and growth rate. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha’s limited operating history and that reAlpha has not yet fully developed its AI-based technologies; reAlpha’s ability to commercialize its developing AI-based technologies; whether reAlpha’s technology and products will be accepted and adopted by its customers and intended users; reAlpha’s ability to integrate the business of GTG Financial into its existing business and the anticipated demand for GTG Financial’s services; reAlpha’s ability to successfully enter new geographic markets; reAlpha’s ability to obtain the necessary regulatory and legal approvals to expand into additional U.S. states and maintain, or obtain, brokerage licenses in such states; reAlpha’s ability to generate additional sales or revenue from having access to, or obtaining, additional U.S. states brokerage licenses; reAlpha’s ability to enhance its, and its subsidiaries’, loan processing efficiency by leveraging its AI-powered platform and overall resources; reAlpha’s ability to expand its loan processing capabilities through the acquisition of GTG Financial; reAlpha’s ability to offer mortgage lending and refinancing services to homebuyers more efficiently through its platform as a result of the acquisition of GTG Financial; the inability to maintain and strengthen reAlpha’s brand and reputation; reAlpha’s ability to scale its operational capabilities to expand into additional geographic markets; the potential loss of key employees of its acquired companies; reAlpha’s inability to accurately forecast demand for short-term rentals and AI-based real estate focused products; the inability to execute business objectives and growth strategies successfully or sustain reAlpha’s growth; the inability of reAlpha’s customers to pay for reAlpha’s services; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha’s SEC filings. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha’s future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. For more information about the factors that could cause such differences, please refer to reAlpha’s filings with the SEC. Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Investor Relations Contact:
    Adele Carey, VP of Investor Relations
    investorrelations@realpha.com

    Media Contact:
    Fatema Bhabrawala, Director of Public Relations
    fbhabrawala@allianceadvisors.com

    The MIL Network –

  • MIL-OSI: Apollo to Acquire Bridge Investment Group

    Source: GlobeNewswire (MIL-OSI)

    Scaled Investment Platform Expands Apollo’s Origination Capabilities in Residential and Industrial Real Estate

    Bridge Manages $50 Billion of High-Quality AUM in Complementary Sectors Aligned with Apollo’s Long-Term Growth Strategy

    NEW YORK and SALT LAKE CITY, Feb. 24, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge” or the “Company”) today announced they have entered into a definitive agreement for Apollo to acquire Bridge in an all-stock transaction with an equity value of approximately $1.5 billion.

    Founded in 2009, Bridge is an established leader in residential and industrial real estate as well as other specialized real estate asset classes. Led by an experienced senior leadership team and over 300 dedicated investment professionals with significant real estate investment and operating expertise, Bridge’s forward-integrated model, nationwide operating platform and data-driven approach have fostered organic growth and consistently produced desirable outcomes across asset classes.

    Bridge will provide Apollo with immediate scale to its real estate equity platform and enhance Apollo’s origination capabilities in both real estate equity and credit, which is expected to benefit Apollo’s growing suite of hybrid and real estate product offerings. Bridge manages approximately $50 billion of high-quality AUM in real estate products targeting both institutional and wealth clients and is expected to be highly synergistic with Apollo’s existing real estate equity strategies and leading real estate credit platform. The transaction is expected to be immediately accretive to Apollo’s fee-related earnings upon closing.

    Apollo Partner and Co-Head of Equity David Sambur said, “We are pleased to announce this transaction with Bridge, which is highly aligned with Apollo’s strategic focus on expanding our origination base in areas of our business that are growing but not yet at scale. Led by a respected real estate team including Executive Chairman Bob Morse and CEO Jonathan Slager, Bridge brings a seasoned team with deep expertise and a strong track record in their sectors. Their business will complement and further augment our existing real estate capabilities, and we believe we can help scale Bridge’s products by leveraging the breadth of our integrated platform. We look forward to working with Bob and the talented Bridge team as we seek to achieve the strategic objectives we laid out at our recent Investor Day.”

    Bridge Executive Chairman Bob Morse said, “We are proud to be joining Apollo and its industry-leading team, who share our commitment to performance and excellence. This transaction will allow the Bridge and Apollo teams to grow on the strong foundation that Bridge has built since 2009 as we work to pursue meaningful value and impact for our investors and communities. With Apollo’s global integrated platform, resources, innovation and established expertise, we are confident that Bridge will be positioned for the next phase of growth amid growing demand across the alternative investments space.”

    Transaction Details
    Under the terms of the transaction, Bridge stockholders and Bridge OpCo unitholders will receive, at closing, 0.07081 shares of Apollo stock for each share of Bridge Class A common stock and each Bridge OpCo Class A common unit, respectively, valued by the parties at $11.50 per each share of Bridge Class A common stock and Bridge OpCo Class A common unit, respectively.

    Upon the closing of the transaction, Bridge will operate as a standalone platform within Apollo’s asset management business, retaining its existing brand, management team and dedicated capital formation team. Bob Morse will become an Apollo Partner and lead Apollo’s real estate equity franchise.

    A special committee of independent directors for Bridge (the “Special Committee”), advised by its own independent legal and financial advisors, reviewed, negotiated and unanimously recommended approval of the merger agreement by the Bridge Board of Directors, determining that it was in the best interests of Bridge and its stockholders not affiliated with Bridge management and directors. Acting upon the recommendation of the Special Committee, the Bridge Board of Directors approved the merger agreement. The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions for transactions of this nature, including approval by a majority of the Class A common stock and Class B common stock of Bridge, voting together and the receipt of regulatory approvals. Certain members of Bridge management and their affiliates, collectively owning approximately 51.4% of the outstanding voting power of the Class A common stock and Class B common stock of Bridge, have entered into voting agreements in connection with the transaction and have agreed to vote in favor of the transaction in accordance with the terms therein. Subject to and upon completion of the transaction, shares of Bridge common stock will no longer be listed on the New York Stock Exchange and Bridge will become a privately held company.

    Further information regarding terms and conditions contained in the definitive merger agreement will be made available in Bridge’s Current Report on Form 8-K, which will be filed in connection with this transaction.

    Bridge Fourth Quarter and Full-Year 2024 Earnings
    Bridge will no longer be holding its fourth quarter and full-year 2024 earnings conference call and webcast scheduled for February 25, 2025, due to the pending transaction.

    Advisors
    BofA Securities, Citi, Goldman, Sachs & Co. LLC, Morgan Stanley & Co. LLC and Newmark Group are acting as financial advisors, Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel and Sidley Austin LLP is acting as insurance regulatory counsel to Apollo. J.P. Morgan Securities LLC is serving as financial advisor to Bridge and Latham & Watkins LLP is acting as legal counsel. Lazard is serving as financial advisor to the special committee of the Bridge Board of Directors and Cravath, Swaine & Moore LLP is acting as legal counsel.

    Statement Regarding Forward-Looking Information

    This press release contains statements regarding Apollo, Bridge, the proposed transactions and other matters that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, discussions related to the proposed transaction between Apollo and the Company, including statements regarding the benefits of the proposed transaction and the anticipated timing and likelihood of completion of the proposed transaction, and information regarding the businesses of Apollo and the Company, including Apollo’s and the Company’s objectives, plans and strategies for future operations, statements that contain projections of results of operations or of financial condition and all other statements other than statements of historical fact that address activities, events or developments that Apollo and the Company intends, expects, projects, believes or anticipates will or may occur in the future. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. All statements in this communication, other than statements of historical fact, are forward-looking statements that may be identified by the use of the words “outlook,” “indicator,” “may,” “will,” “should,” “expects,” “plans,” “seek,” “anticipates,” “plan,” “forecasts,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions, but not all forward- looking statements include such words. These forward-looking statements are subject to certain risks, uncertainties and assumptions, many of which are beyond the control of Apollo and the Company, that could cause actual results and performance to differ materially from those expressed in such forward-looking statements. Factors and risks that may impact future results and performance include, but are not limited to, those factors and risks described under the section entitled “Risk Factors” in Apollo’s and the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and such reports that are subsequently filed with the Securities and Exchange Commission (the “SEC”).

    The forward-looking statements are subject to certain risks, uncertainties and assumptions, which include, but are not limited to, and in each case as a possible result of the proposed transaction on each of Apollo and the Company: the ultimate outcome of the proposed transaction between Apollo and the Company, including the possibility that the Company’s stockholders will not adopt the merger agreement in respect of the proposed transaction; the effect of the announcement of the proposed transaction; the ability to operate Apollo’s and the Company’s respective businesses, including business disruptions; difficulties in retaining and hiring key personnel and employees; the ability to maintain favorable business relationships with customers and other business partners; the terms and timing of the proposed transaction; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement and the proposed transaction; the anticipated or actual tax treatment of the proposed transaction; the ability to satisfy closing conditions to the completion of the proposed transaction (including the adoption of the merger agreement in respect of the proposed transaction by the Company’s stockholders); other risks related to the completion of the proposed transaction and actions related thereto; the ability of Apollo and the Company to integrate the businesses successfully and to achieve anticipated synergies and value creation from the proposed transaction; global market, political and economic conditions, including in the markets in which Apollo and the Company operate; the ability to secure government regulatory approvals on the terms expected, at all or in a timely manner; the global macro-economic environment, including headwinds caused by inflation, rising interest rates, unfavorable currency exchange rates, and potential recessionary or depressionary conditions; cyber-attacks, information security and data privacy; the impact of public health crises, such as pandemics and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; litigation and regulatory proceedings, including any proceedings that may be instituted against Apollo or the Company related to the proposed transaction; and disruptions of Apollo’s or the Company’s information technology systems.

    These risks, as well as other risks related to the proposed transaction, will be included in the Registration Statement (as defined below) and Joint Proxy Statement/Prospectus (as defined below) that will be filed with the SEC in connection with the proposed transaction. While the list of factors presented here is, and the list of factors to be presented in the Registration Statement and Joint Proxy Statement/Prospectus are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Other unknown or unpredictable factors also could have a material adverse effect on Apollo’s and the Company’s business, financial condition, results of operations and prospects. Accordingly, readers should not place undue reliance on these forward-looking statements. These forward-looking statements are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Except as required by applicable law or regulation, neither Apollo nor the Company undertakes (and each of Apollo and the Company expressly disclaim) any obligation and do not intend to publicly update or review any of these forward-looking statements, whether as a result of new information, future events or otherwise.

    No Offer or Solicitation

    This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed transactions or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, the public offer will not be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction.

    Additional Information Regarding the Transaction and Where to Find It

    This press release is being made in respect of the proposed transaction between Apollo and the Company. In connection with the proposed transaction, Apollo intends to file with the SEC a registration statement on Form S-4, which will constitute a prospectus of Apollo for the issuance of Apollo common stock (the “Registration Statement”) and which will also include a proxy statement of the Company for the Company stockholder meeting (together with any amendments or supplements thereto, and together with the Registration Statement, the “Joint Proxy Statement/Prospectus”). Each of Apollo and the Company may also file other relevant documents with the SEC regarding the proposed transaction. This document is not a substitute for the Registration Statement or Joint Proxy Statement/Prospectus or any other document that Apollo or the Company may file with the SEC. The definitive Joint Proxy Statement/Prospectus (if and when available) will be mailed to stockholders of the Company.

    INVESTORS ARE URGED TO READ IN THEIR ENTIRETY THE REGISTRATION STATEMENT, THE JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors will be able to obtain free copies of the Registration Statement and Joint Proxy Statement/Prospectus (if and when available) and other documents containing important information about Apollo, the Company and the proposed transaction, once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with, or furnished to, the SEC by Apollo will be available free of charge by accessing the Investor Relations section of Apollo’s website at https://ir.apollo.com. Copies of the documents filed with, or furnished to, the SEC by the Company will be available free of charge by accessing the Investor Relations section of the Company’s website at https://www.bridgeig.com. The information included on, or accessible through, Apollo’s or the Company’s website is not incorporated by reference into this communication.

    Participants in the Solicitation

    Apollo, the Company, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company’s stockholders in respect of the proposed transaction. Information about the directors and executive officers of Apollo, including a description of their direct or indirect interests, by security holdings or otherwise, is contained in its Proxy Statement on Schedule 14A, dated April 26, 2024 (the “Apollo Annual Meeting Proxy Statement”), which is filed with the SEC. Any changes in the holdings of Apollo’s securities by Apollo’s directors or executive officers from the amounts described in the Apollo Annual Meeting Proxy Statement have been or will be reflected in Initial Statements of Beneficial Ownership of Securities on Form 3 (“Form 3”), Statements of Changes in Beneficial Ownership on Form 4 (“Form 4”) or Annual Statements of Changes in Beneficial Ownership of Securities on Form 5 (“Form 5”) subsequently filed with the SEC and available at the SEC’s website at www.sec.gov. Information about the directors and executive officers of the Company, including a description of their direct or indirect interests, by security holdings or otherwise, is contained in its Proxy Statement on Schedule 14A, dated March 21, 2024 (the “Company Annual Meeting Proxy Statement”), which is filed with the SEC. Any changes in the holdings of the Company’s securities by the Company’s directors or executive officers from the amounts described in the Company Annual Meeting Proxy Statement have been or will be reflected on Forms 3, Forms 4 or Forms 5, subsequently filed with the SEC and available at the SEC’s website at www.sec.gov. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Registration Statement and the Joint Proxy Statement/Prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when such materials become available. Investors should read the Registration Statement and the Joint Proxy Statement/Prospectus carefully when available before making any voting or investment decisions.

    About Apollo
    Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

    About Bridge Investment Group
    Bridge is a leading alternative investment manager, diversified across specialized asset classes, with approximately $50 billion of assets under management as of December 31, 2024. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select verticals across real estate, credit, renewable energy and secondaries strategies.

    Contacts

    For Apollo:

    Noah Gunn
    Global Head of Investor Relations
    Apollo Global Management, Inc.
    212-822-0540
    ir@apollo.com

    Joanna Rose
    Global Head of Corporate Communications
    Apollo Global Management, Inc.
    212-822-0491
    communications@apollo.com

    For Bridge:

    Shareholder Relations:
    Bonni Rosen Salisbury
    Bridge Investment Group Holdings Inc.
    shareholderrelations@bridgeig.com

    Media:
    Charlotte Morse
    Bridge Investment Group Holdings Inc.
    (877) 866-4540
    charlotte.morse@bridgeig.com

    H/Advisors Abernathy
    Eric Bonach / Dan Scorpio
    (917) 710-7973 / (646) 899-8118
    eric.bonach@h-advisors.global / dan.scorpio@h-advisors.global

    The MIL Network –