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Category: Finance

  • MIL-OSI USA: Grassley Releases Bombshell Records Showing FBI Headquarters Interfered with Alleged Chinese Election Interference Probe to Shield Christopher Wray from Political Blowback

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    WASHINGTON – Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) today released internal Federal Bureau of Investigation (FBI) emails revealing the FBI suppressed intelligence of alleged Chinese interference in the 2020 election to insulate then-FBI Director Christopher Wray from criticism, after Wray provided inaccurate and contradictory testimony to Congress.
    The FBI declassified and provided the requested records to Grassley, along with an accompanying cover letter, after Grassley initially received some information from whistleblower disclosures. The FBI emails offer an inside look at the Bureau’s decision to recall and suppress an Intelligence Information Report (IIR) from the FBI’s Albany Field Office on September 25, 2020. The IIR contained information from an FBI Confidential Human Source (CHS) alleging the Chinese government was producing “tens of thousands” of fraudulent drivers’ licenses to manufacture mail-in votes for then-presidential candidate Joe Biden in the 2020 election. 
    According to the FBI, these allegations, despite showing initial signs of credibility, were allegedly never fully investigated due to the FBI’s sudden and “abnormal” decision to halt the investigation and bury the IIR’s existence, preventing any additional FBI field offices, as well as other Intelligence Community elements, from accessing or studying the document. The FBI’s stated reason for doing so was because “the reporting will contradict Director Wray’s testimony.” 
    “These records smack of political decision-making and prove the Wray-led FBI to be a deeply broken institution. Ahead of a high-stakes election happening amid an unprecedented global pandemic, the FBI turned its back on its national security mission,” Grassley said. “One way or the other, intelligence must be fully investigated to determine whether it’s true, or if it’s just smoke and mirrors. Chris Wray’s FBI wasn’t looking out for the American people – it was looking to save its own image. Now’s the time to rebuild the FBI’s trust. Director Patel’s willingness to work with me to establish renewed transparency and accountability is a critical part of that process, and I applaud him for his efforts.” 
    Political ReasoningFollowing the IIR’s recall, an FBI Albany intelligence analyst summarized the concerning series of events that led to the suppression:
    “Most concerning to me, is stating the reporting would contradict with Director Wray’s testimony. I found this troubling because it implied to me that one of the reasons we aren’t putting this out is for a political reason, which goes directly against our organization’s mission to remain apolitical and simply state what we know. Likewise, at the field operational level, I do not feel it is our job to assess whether or not our intelligence aligns with the Director…. My concern is that I think it gets dangerous if we cite potential political implications as reasons for not putting out our information.” 
    Source CredibilityAn FBI Albany official noted “the IIR was coordinated and disseminated in textbook fashion.” Further, a re-interview of the FBI CHS yielded additional context that supported the initial IIR’s findings. An FBI Albany official described the CHS as “competent” and “authentic in his/her reporting.” The CHS described the confidence in his/her sub-sourcing as a “9-10 range. [V]ery, very confident.”
    Decision for RecallAccording to an Assistant Section Chief in the FBI’s Counterintelligence Division, the IIR immediately generated “a lot of attention from all [Headquarter] divisions.” 
    Upon receiving the IIR, an FBI Albany official stated, “We have no reason to recall at this point.” Minutes later, the Albany Field Office was commanded to recall the IIR at the direct request of officials at FBI Headquarters, including Nikki Floris, then-Deputy Assistant Director (DAD) of the FBI’s Counterintelligence Division. Months before dismissing the IIR, Floris provided an unnecessary briefing to Grassley and Sen. Ron Johnson (R-Wis.) regarding their investigation into the Biden family. The briefing – though classified – was later leaked to the press in an effort to falsely smear the senators’ investigation as Russian disinformation.
    Following the IIR’s recall, FBI Headquarters informed field offices that “all raw reporting concerning the election will now require [Headquarters] coordination,” which had not been previously required. 
    Contradictory TestimonyDuring sworn testimony before the Senate Homeland Security and Government Affairs Committee (HSGAC) on September 24, 2020, Wray stated: 
    “I think what I would say is this: We take all election-related threats seriously, whether it is voter fraud, voter suppression, whether it is in person, whether it is by mail. And our role is to investigate the threat actors. Now, we have not seen historically any kind of coordinated national voter fraud effort in a major election, whether it is by mail or otherwise… [B]ut people should make no mistake we are vigilant as to the threat and watching it carefully, because we are in uncharted new territory.” 
    Wray doubled down on his assertion in response to further questioning from HSGAC Ranking Member Gary Peters (D-Mich.).
    Peters: “Right, but your answer is clear. You have not seen any widespread fraud by mail. It is something the FBI watches continuously to make sure that that is not happening.” 
    Wray: “That is something that we would investigate seriously.” 
    Peters: “Absolutely.” 
    Wray: “And aggressively.” 
    FITF-China Prevents Further Follow-upOn October 8, 2020, an official with the FBI’s Foreign Influence Task Force (FITF)-China division confirmed FITF-China had still not approved a reissue of the IIR. Despite FITF-China offering to “discuss next steps” for the IIR, the FBI on June 27, 2025 confirmed to Grassley that they had “found no information to indicate that FITF-China aggressively investigated the reported information, despite corroborating intergovernmental reporting and logical investigative leads.” 
    Wray established FITF with the stated goal to “identify and counteract malign foreign influence operations targeting the United States.” Grassley called the Trump administration’s recent decision to close FITF “a positive step, given what the task force had been twisted into,” noting specifically its conduct against his and Senator Johnson’s Biden family investigation.
    -30-

    MIL OSI USA News –

  • MIL-OSI USA: Hoeven: Senate Passes One Big Beautiful Bill, Providing Permanent Tax Relief for American Families and Small Businesses

    US Senate News:

    Source: United States Senator for North Dakota John Hoeven

    07.01.25

    Legislation Will Grow Economy, Bolster Border Security, Rebuild Military, Empower Energy Dominance and Support Farmers and Ranchers

    WASHINGTON – Senator John Hoeven today helped secure passage of the One Big Beautiful Bill, legislation to provide permanent tax relief for American families and small businesses, while delivering on key promises, including:

    • Securing the border. 
    • Rebuilding our military.
    • Supporting farmers and ranchers.
    • Unleashing American energy dominance.

    At the same time, the legislation finds savings of $1.6 trillion through common sense reforms and reducing waste, fraud and abuse, ultimately reducing the deficit by $507 billion.

    “The One Big Beautiful Bill will provide permanent tax relief, ensuring that Americans can keep more of their hard-earned dollars,” said Hoeven. “This legislation delivers on promises made by President Trump, including securing the border, investing in our military, empowering American energy dominance and supporting our farmers and ranchers. These are the priorities that will make our nation more prosperous and more secure.”

    Tax Relief for Families and Small Businesses

    The legislation permanently extends current individual tax rates and bracket changes of the Tax Cuts and Jobs Act, preserving $2.6 trillion in tax breaks for those earning under $400,000 per year, and preventing a $1,700 tax hike on the average family of four.

    The bill provides new and expanded tax deductions and credits for individuals, families and seniors, including:

    • No taxes on tips or overtime for millions of American workers.
    • Increasing and making permanent the enhanced child tax credit at $2,200, with $1,700 of that amount being refundable, adjusted for inflation.
    • Permanent relief from the death tax by setting the exemption to $15 million or $30 million for those married filing jointly, adjusted for inflation.
    • Savings accounts for newborns to help build financial security.
    • A new $6,000 tax deduction for millions of low- and middle-income seniors. Combined with other deductions, this will result in the average beneficiary paying zero taxes on Social Security. 

    The legislation helps small businesses, including agricultural producers and manufacturers invest in their operations by:

    • Permanently extending the Section 199A pass-through deduction for small businesses, farmers and ranchers.
      • Permanently extending the Section 199A(g) deduction used by agricultural cooperatives.
    • Increasing the Section 179 expensing amount to $2.5 million and increasing the phaseout for qualified property at $4 million.
    • Establishing a 100 percent accelerated depreciation for new industrial and manufacturing facilities that begin construction between 2025-2028.
    • Making permanent the 30 percent interest expense allowance.
    • Permanently extending the 100 percent domestic research and development deduction.
    • Making permanent 100 percent bonus depreciation.

    Support for Farmers and Ranchers

    The legislation provides strong support for the nation’s farmers and ranchers, and improves the farm-safety net to meet today’s markets and input costs by:

    • Increasing reference prices for ARC and PLC by 10% to 20% (specific increase varies by commodity).
    • Providing built-in future reference price increases with an inflation adjuster and improved price escalator formula to prevent reference prices from becoming outdated when market and input costs change.
    • New safety net begins right away – producers can receive the higher of the ARC or PLC payment for this crop year, 2025, with the new updated reference prices. North Dakota farmers will see tens of millions of dollars in relief in 2025 alone thanks to these updates.
    • Includes key provisions of Hoeven’s FARMER Act to strengthen and expand access to affordable crop insurance
      • Increases premium support for individual-based coverage across nearly all levels – starting at 55% — by an additional 3-5%.
      • Enhances the Supplemental Coverage Option by raising the coverage level from 86% to 90%, and boosts premium support from 65% to 80%.
    • Extends the sugar program through 2031, while increasing the sugar loan rate to meet current market conditions.
    • Improves livestock disaster programs
      • Sets Livestock Indemnity Program (LIP) payments at 100% of market value for losses from federally protected predators and 75% for weather and disease losses.
      • Improves the Livestock Forage Program (LFP) to provide one monthly payment to eligible producers with grazing land in counties rated D2 (severe drought) for at least four consecutive weeks and two payments if D2 persists during any seven of eight consecutive weeks within the normal grazing period.

    Unleashing U.S. Energy Dominance

    The One Big Beautiful Bill will help restore American energy dominance by rolling back burdensome Green New Deal policies and empowering domestic energy production, including:

    • Increasing the value of the 45Q tax credit for captured carbon used in enhanced oil recovery (EOR) and utilization to match that of sequestration.
    • Requiring the Interior Department to hold regular oil and gas lease sales across federal lands and waters.
    • Requiring the Bureau of Land Management (BLM) to act timely on coal lease applications.
    • Reducing the royalty rate for oil, gas and coal produced on federal land to their levels prior to the Biden administration’s tax-and-spend legislation.
    • Stopping the Biden-era natural gas tax.
    • Investing in the Strategic Petroleum Reserve.
    • Providing regulatory relief for energy producers and repeals Biden-era Green New Deal policies and programs.

    Bolstering the Military

    • $25 billion to support the Golden Dome initiative, with investments in hypersonic testing, ground-based radars, and space-based sensors that support North Dakota-based missions and capabilities.
    • $15 billion to enhance nuclear deterrence, including the nuclear missions based at Minot Air Force Base:
      •  $2.5 billion for the new Sentinel intercontinental ballistic missile (ICBM) program.
      • $500 million to sustain the existing Minuteman III ICBM.
      • $200 million for additional MH-1139 Grey Wolf helicopters.
    • Improves servicemembers’ quality of life through increased allowances and special pays, as well as improvements to housing, health care, childcare, and education.

    Securing the Border

    • Completes construction of the border wall, and upgrades barrier systems including access roads, cameras, lights, and sensors.
    • Improves border screening technology to help prevent drug trafficking and human smuggling.
    • Strong funding to hire and train more border security personnel.
    • Funds the Operation Stonegarden grant program to equip state and local law enforcements to cooperate with Border Patrol.
    • Invests in state and local capabilities to detect threats from unmanned aerial systems.

    Supporting Water Infrastructure

    • Provides $1 billion in funding for Bureau of Reclamation Water Conveyance Projects, including for eligible projects like the Eastern North Dakota Alternate Water Supply Project (ENDAWS).

    MIL OSI USA News –

  • MIL-OSI USA: Crypto Asset Exchange-Traded Products

    Source: Securities and Exchange Commission

    As part of an effort to provide greater clarity on the application of the federal securities laws to crypto assets,[1] the Division of Corporation Finance is providing its views[2] on the application of certain disclosure requirements under the federal securities laws to offerings and registrations of securities by issuers of crypto asset exchange-traded products (“crypto asset ETPs”). Crypto asset ETPs are investment products that are listed and traded on national securities exchanges. They are typically structured as trusts that hold assets which consist of spot crypto assets or derivative instruments that reference crypto assets. These trusts are issuers of securities who must register their offerings and classes of securities under the Securities Act of 1933 (“Securities Act”) and Securities Exchange Act of 1934 (“Exchange Act”), respectively. Issuers of crypto asset ETPs[3] are also subject to the anti-fraud provisions of the federal securities laws. However, the crypto asset ETPs addressed in this statement are not registered as investment companies under the Investment Company Act of 1940.[4]

    The disclosures required in connection with offerings and registrations under the Securities Act and the Exchange Act protect investors, facilitate capital formation, and promote fair, orderly, and efficient markets. In recent years, issuers have registered offerings of crypto asset ETPs under the Securities Act and registered classes of these securities under the Exchange Act. This statement reflects our observations regarding disclosure practices in our reviews of crypto asset ETP filings. It also addresses our views about certain specific questions that market participants have presented to the staff. While disclosures should be based on an issuer’s specific facts and circumstances, we believe that issuers may benefit from the identification of common issues we have observed during our reviews.

    This statement addresses our views about certain disclosure requirements set forth in Regulation S-K and Regulation S-X as they apply to Securities Act registration forms (such as Form S-1). This statement does not address all material disclosure items, and the disclosure topics addressed below may not be relevant for all issuers. Each issuer should consider its own facts and circumstances when preparing its disclosures. Each issuer also should consider whether it is permitted to provide “scaled disclosure” with respect to any applicable disclosure requirements.[5] Moreover, issuers should note that disclosure is not required where a particular disclosure requirement is not applicable.[6]

    Cover Page

    SEC rules require issuers to provide information on the outside front cover page of the prospectus related to the offering, including the offering price of the securities, the nature of any underwriting arrangements and the name(s) of the underwriter(s).[7] Crypto asset ETPs are required to disclose on the cover page the initial offering price of the securities. We have observed cover page disclosure identifying the initial authorized participant (“AP”)[8] or the initial purchaser as a statutory underwriter.

    Prospectus Summary

    SEC rules require issuers to provide a summary in plain English of the information in the prospectus where the length or complexity of the prospectus makes a summary useful.[9] In this summary, we have observed issuers that have identified those aspects of the offering that are the most significant and highlighted those points in clear, plain language, avoiding merely repeating the text of the prospectus.[10] Examples of disclosure we have observed in the prospectus summary include:

    • An overview of the trust, including a clear description of the investment objective of the trust and the tracking index or benchmark it plans to reference;
    • A description of the underlying crypto asset(s) and the associated network(s);
    • The issuer’s policies regarding the management of the underlying crypto asset(s), including any limitations on how they are held or used;
    • The issuer’s policies regarding any incidental rights associated with the underlying crypto assets(s), including forks, airdrops, or similar events; and
    • That the amount of underlying crypto assets per share held by the trust will decline over time as the crypto assets are sold to pay the trust’s fees and expenses.

    Risk Factors

    SEC rules require a discussion of the material factors that make an investment in the issuer and product speculative or risky.[11] The content and scope of an issuer’s risk disclosure will depend on the nature of the security, the issuer’s business, the underlying crypto asset(s), the tracking index or benchmark, and, if material, may include factors such as the characteristics of the security, limited rights of holders, insurance coverage, valuation and liquidity risks, technological risks, cybersecurity risks, and legal, regulatory and tax risks. Discussion of risks that could apply generically to any issuer is discouraged.[12] The following are examples of risks that have been disclosed:

    • Risks related to the underlying crypto asset(s) and crypto asset markets that pose a risk of investor losses, including price volatility, theft of private keys and other hacking incidents, and the risk of price volatility from other parts of the crypto asset markets;
    • Risks of fraud, manipulation, front-running, wash-trading, security failures or operational problems on crypto asset trading platforms;
    • Risks of attacks on the associated network(s) by malicious actors;
    • Risks of concentration of ownership in the underlying crypto asset(s);
    • Risks from loss of incentives for miners and validators of the underlying crypto asset(s);
    • Risks from other competing products that have already entered the market or that charge lower fees; and
    • Risks from APs and other service providers or counterparties providing services for competitors.

    Description of Business

    The Trust, Crypto Asset Prices, and Calculation of NAV

    SEC rules require issuers to provide a narrative description of the material aspects of their business.[13] Crypto asset ETPs generally provide disclosure regarding the trust’s assets, including the characteristics of the underlying crypto asset(s), and describe the applicable index or benchmark methodology, as well as the methodology to calculate net asset value (“NAV”).[14] Disclosure should be presented in clear, concise, and understandable language, without overly relying on technical terminology or jargon.[15] For example, to the extent applicable, we have observed disclosure that:

    Underlying Crypto Asset(s) and Associated Network(s)

    • Provides material information about the underlying crypto asset(s) and associated network(s), including information about the launch of the crypto asset(s) and the initial development team, the method of generating, minting or mining the crypto asset(s), the process for staking, locking and burning the crypto asset(s), the process for validating transactions, the consensus mechanism, use cases, and any fees associated with use of the crypto network(s) or applications;
    • Includes a discussion regarding the total supply of the underlying crypto asset(s) covering the amounts outstanding, issued and burned, the market capitalization for the crypto asset(s), whether there is a cap on supply and what the minting and burning schedule is, as well as material events impacting the supply of the crypto asset(s), such as halving events, modifications to the protocol, and any recent or planned forks; and
    • Describes the spot and/or futures markets for the underlying crypto asset(s), including how those markets are regulated.

    Index or Benchmark

    • Identifies and provides tabular disclosure for each constituent trading platform used to calculate the index or benchmark price, including market share and volume information;
    • Describes how the constituent trading platforms are selected and how the index or benchmark price is calculated;
    • Includes the composition and operation of any oversight committee; and
    • Specifies whether the sponsor has discretion to select a different index or benchmark and discusses whether and how the sponsor will notify investors of material changes to the index or benchmark.

    Calculation of NAV

    • Describes the methodology the trust will use to calculate NAV and the policies and procedures if the index or benchmark is unavailable or the sponsor elects not to rely on it;
    • If the methodology used to calculate NAV differs from the methodology used to determine the fair value of crypto asset holdings for GAAP purposes, provides a discussion of the differences between the two methodologies; and
    • Discloses whether the sponsor has agreements with any third parties for use of their valuation methodologies and whether the sponsor has a license to use a secondary index or benchmark.

    The Trust’s Service Providers, Custody of the Trust’s Assets, and Fees and Expenses

    SEC rules require disclosure of information material to an understanding of the issuer’s business,[16] which may include the extent to which the issuer’s business is materially reliant on third parties. Issuers generally rely on the services of a sponsor and several third-party service providers, including one or more crypto asset custodians. Issuers generally pay a fee to the sponsor of the trust that typically covers the issuer’s operating expenses. Issuers generally disclose the various fees and expenses payable to the sponsor and third-party service providers. Additionally, issuers are required to file as exhibits to the registration statement material contracts not made in the ordinary course of their business, or in the case of ordinary course contracts, those on which they are substantially dependent, except where immaterial in amount or significance.[17] In this regard, we have observed issuers providing the following to the extent applicable:

    The Trust’s Service Providers

    • Identifying the APs, describing the material terms of the AP agreement, and filing the agreement as an exhibit to the registration statement;
    • Identifying any counterparties contracted to assist in the purchase and sale of the underlying crypto asset(s), describing the material terms of any agreement with such parties, disclosing the extent of any affiliations or material relationships between the counterparties and the APs, discussing the criteria for engaging the counterparties, and filing any material agreements as exhibits to the registration statement; and
    • To the extent the trust has an agreement with a counterparty to provide financing for purchases and sales of the underlying crypto asset(s), disclosing the material terms of that arrangement, including the rate of interest, describing the mechanics of financing in connection with creation and redemption orders, and filing any material agreements as exhibits to the registration statement.

    Custody of the Trust’s Assets

    • Identifying and describing the material terms of their agreement(s) with the custodian(s);
    • Storage policies for private keys, including the use of cold, warm or hot storage, whether the issuer’s crypto assets are commingled or held in wallets with assets of other customers, and how transfers of crypto assets from cold, warm or hot storage occur;
    • Who will have access to the private key information and whether any entity will be responsible for verifying the existence of the crypto assets; and
    • Whether and to what extent the custodian carries insurance for any losses of the crypto asset(s) that it custodies for the issuer and to what extent insurance coverage is shared among the custodian’s customers and not specific to the issuer.

    Fees and Expenses

    • How the sponsor fee is calculated, which fees and expenses are assumed by the sponsor, and which fees are capped or otherwise not assumed by the sponsor;
    • The fee arrangements with third parties, including transaction fees and other expenses; and
    • Any arrangements for the sponsor fee or other fees to be paid using the trust’s underlying crypto asset holdings.

    Description of Securities

    SEC rules require a description of the issuer’s securities.[18] In describing the securities offered by the trust, issuers are required to disclose the circumstances under which shareholders have voting rights.[19] Examples of disclosure we have observed in this context include the following:

    • Any limitations or restrictions on voting rights;
    • Whether the rights of holders may be modified other than by a vote of a majority or more of the shares outstanding; and
    • How shareholders will be notified of material amendments to or termination of the trust agreement.

    Plan of Distribution

    SEC rules require disclosure of the plan of distribution of securities offered and sold in a registered offering.[20] Additionally, issuers conducting delayed or continuous offerings under Securities Act Rule 415 undertake to include in a post-effective amendment to the registration statement material information with respect to the plan of distribution not previously disclosed or any material change to that information included in the effective registration statement.[21] Among other information, issuers have provided the following information regarding the plan of distribution:

    • The mechanics of the creation and redemption process between the trust, the APs, the custodian(s), and any other third-party service providers, whether and to what extent creation and redemption orders will be settled onchain or offchain, and any risks associated with the settlement process;
    • The potential impact on the arbitrage mechanism from price volatility, trading volume, and price differentials across crypto asset trading platforms, and in the event crypto asset trading platforms are closed or otherwise unavailable; and
    • Whether and under what circumstances the sponsor may suspend creation and redemption orders and how the trust will notify shareholders if it has suspended creation and redemption orders.

    Directors, Executive Officers, and Significant Employees

    Management

    SEC rules require disclosure of information relating to the identity and experience of those entrusted with the management of the issuer, including executive officers, directors, and certain significant employees who make (or are expected to make) a significant contribution to the issuer’s business.[22] SEC rules also require such disclosure for persons who do not hold formal titles or positions as executive officers or directors but who perform policy-making functions typically performed by executive officers or perform similar functions as directors.[23] Crypto asset ETPs typically have a sponsor whose directors and executive officers perform functions similar to a board of directors and executive officers for the trust. To the extent that a sponsor performs policy-making functions, disclosure has been provided with respect to the directors, executive officers, or other employees of the sponsor performing such functions. Although disclosure regarding executive compensation of the issuer would not be applicable in this situation,[24] we have observed disclosure of the fees paid to the sponsor or third party for performing such functions, as discussed in “The Trust’s Service Providers, Custody of the Trust’s Assets, and Fees and Expenses” above.[25]

    Conflicts of Interest

    SEC rules require disclosure of material information about transactions with related persons and policies and procedures related to the review, approval, or ratification of transactions with related persons.[26] Issuers have disclosed existing and potential conflicts of interest between the sponsor and its affiliates and the trust, including the following:

    • Whether the sponsor or any insiders hold the underlying crypto asset(s) or have crypto asset-related exposure that could create conflicts of interest;
    • Whether the trust has a code of conduct or other requirements for pre-clearance of transactions in the underlying crypto asset(s) that apply to its employees, the sponsor, or any of its affiliates; and
    • The sponsor’s experience sponsoring other exchange-traded products and its specific experience in crypto asset markets.

    Financial Statements

    We have observed that some issuers are organized as statutory trusts or limited partnerships that are registering the offer and sale of beneficial units or limited partnership interests in multiple series. In these instances, for purposes of SEC reporting, the staff has taken the position that the trust or partnership should be treated as the sole registrant, not the individual series.[27] However, the staff has also taken the position that in addition to providing financial statements of the trust or partnership, issuers should provide separate financial statements of each individual series. Issuers have separately provided, prepared, or evaluated, as applicable, the following for the sole registrant and for each series:

    • Separate financial statements and audit reports;
    • Separate interim financial statements; and
    • Separate assessments of materiality for Regulation S-K and Regulation S-X purposes, including Regulation S-X Rules 3-05, 3-09 and 4-08.

    Filing Fee Tables

    Issuers electing to register the offering of an indeterminate number of exchange-traded vehicle securities[28] in reliance on Securities Act Rules 456(d) and 457(u) should be aware that the EDGAR fee tag for “Type of payment” is “2” and the EDGAR “Security type” is “Exchange-Traded Vehicle Securities.” Failure to include these tags may prevent the issuer from being able to file a form of prospectus under Securities Act Rule 424(i) and pay its registration fee not later than 90 days after the end of any fiscal year during which it has publicly offered securities.

    Contacting the Division

    The Division welcomes questions about the application of the SEC’s disclosure rules to offerings and registrations of crypto asset ETPs, as well as any ongoing reporting obligations. We also welcome requests for other assistance (including requests for interpretive or no-action letters) relating to these issues and questions. Information about how to contact the Division is available on our website.[29]

    [1] For purposes of this statement, a “crypto asset” is an asset that is generated, issued, and/or transferred using a blockchain or similar distributed ledger technology network (“crypto network”), including, but not limited to, assets known as “tokens,” “digital assets,” “virtual currencies,” and “coins,” and that relies on cryptographic protocols. References in this statement to “network” refer to a crypto network, and references to “application” refer to an application running on such a crypto network.

    [2] This statement represents the views of the staff of the Division of Corporation Finance (the “Division”). It is not a rule, regulation, exemption, guidance, or statement of the U.S. Securities and Exchange Commission (“Commission” or “SEC”), and the Commission has neither approved nor disapproved its content. This statement, like all staff statements, has no legal force or effect: it does not alter or amend applicable law, and it creates no new or additional obligations for any person.

    [3] For brevity, we refer to crypto asset ETP issuers as “issuers” in this statement.

    [4] As a result, these crypto asset ETPs are not subject to the requirements of the Investment Company Act of 1940, such as the legal requirements related to valuation and custody of fund assets.

    [5] Scaled disclosure refers to disclosure accommodations that the federal securities laws sometimes provide for smaller or newly public companies, such as smaller reporting companies, non-accelerated filers, or emerging growth companies. These accommodations apply to a qualifying company’s registered offerings and its ongoing public company reporting. Scaled disclosure permits these companies to provide less extensive disclosure than other companies.

    [6] See, e.g., Rule 404(c) under the Securities Act and General Instruction II.B. of Form S-1. For example, disclosure regarding properties only is required where issuers have material physical properties. See Item 102 of Regulation S-K.

    [7] See Item 501(b) of Regulation S-K.

    [8] APs are financial intermediaries that provide liquidity for crypto asset ETPs by facilitating the creation and redemption of shares (often referred to as creation and redemption units or creation and redemption baskets). APs place orders to create and redeem baskets.

    [9] See Item 503 of Regulation S-K.

    [10] See Instruction to paragraph 503(a) of Item 503 of Regulation S-K.

    [11] See Item 105 of Regulation S-K.

    [13] See Item 101 of Regulation S-K.

    [14] NAV of a crypto asset ETP is the trust’s total assets minus its total liabilities.

    [15] See Securities Act Rule 421(b).

    [16] See, e.g., Items 101(c) and 101(h) of Regulation S-K.

    [17] See Item 601(b)(10) of Regulation S-K.

    [18] See Item 202 of Regulation S-K.

    [19] See Item 202(d) of Regulation S-K.

    [20] See Item 508 of Regulation S-K.

    [21] See Securities Act Rule 415(a)(3); Item 512(a)(1) of Regulation S-K; and Part II, Item 17 to Form S-1 and Part II, Item 17 to Form S-3.

    [22] See Item 401 of Regulation S-K.

    [23] See Securities Act Rule 405. Disclosure is not required where a particular disclosure requirement is not applicable, or the issuer otherwise does not have responsive information. For example, crypto asset ETPs do not have a board of directors and, therefore, do not provide disclosure regarding members of a board of directors.

    [24] See Item 402 of Regulation S-K.

    [25] See Item 404 of Regulation S-K.

    [26] See Item 404 of Regulation S-K.

    [27] See Securities Act Sections Compliance and Disclosure Interpretations, Question 104.01. Compliance and disclosure interpretations reflect the views of the staff of the Division of Corporation Finance. They are not rules, regulations, or statements of the Commission. The Commission has neither approved nor disapproved these interpretations.

    MIL OSI USA News –

  • MIL-OSI: BigCommerce Appoints Former Adobe Fellow and Vice President of Technology Anil Kamath to its Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, July 01, 2025 (GLOBE NEWSWIRE) — BigCommerce (Nasdaq: BIGC), a leading open SaaS ecommerce platform for B2C and B2B businesses, announced today that former Adobe Fellow and Vice President of Technology Anil Kamath has joined the BigCommerce Board of Directors.

    “Joining the Board of BigCommerce is an exciting opportunity to support BigCommerce’s innovation agenda through strategic guidance on data and AI,” Kamath said. “I see immense potential to leverage predictive analytics, personalization and intelligent automation to drive transformative growth for merchants. Ecommerce is one of the most dynamic frontiers for applied AI, and I’m thrilled to contribute to a vision that empowers businesses to scale smarter, serve customers better and innovate faster.”

    Over his 30-year career as a technology entrepreneur, advisor and leader, Kamath has developed expertise in business strategy, scaling companies, strategic oversight, governance and corporate development that, combined with his industry perspective, will enable him to provide BigCommerce with critical strategic guidance.

    During his 13 years at Adobe, Kamath was responsible for data science, machine learning and artificial intelligence for the Adobe Experience Cloud. Prior to joining Adobe, he was the founder and primary architect of Efficient Frontier, a digital ad buying platform that managed more than $2 billion in advertising spend until its acquisition by Adobe. He led the integration of Efficient Frontier into Adobe Marketing Cloud and developed data science-driven solutions that optimized customer acquisition, engagement, retention and growth across B2C and B2B businesses. More recently, he spearheaded the generative AI transformation for enterprise marketing, leading to the launch of Gen Studio for Performance Marketing.

    After a successful 13-year tenure at Adobe, Kamath transitioned earlier this year to focus on mentoring and supporting early-stage innovation. He is a longtime member of the Stanford Angels & Entrepreneurs, as well as lead mentor and advisor at StartX, a non-profit accelerator for Stanford University startups.

    “Anil brings an extensive blend of strong leadership and valuable technological expertise to BigCommerce at a time when our industry and our business are going through some exciting changes,” said Travis Hess, CEO of BigCommerce. “His addition to our Board will help strengthen BigCommerce’s core offerings as well as inform the innovations we are building to drive business outcomes for merchants. We are excited to leverage his experience and look forward to Anil’s perspectives and contributions.”

    Kamath was appointed to the vacancy created upon the departure of BigCommerce board member Lawrence Bohn who had served since 2011, when he became BigCommerce’s first investor through General Catalyst’s Series A investment in the company.

    “I want to personally thank Larry for his many significant contributions to the growth and success of BigCommerce,” Hess said. “Since the earliest days of the company, Larry has been invaluable to BigCommerce, and throughout his tenure, he has championed a deep belief in our mission and strategy.”

    About BigCommerce
    BigCommerce (Nasdaq: BIGC) is a leading open SaaS and composable ecommerce platform that empowers brands, retailers, manufacturers and distributors of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers sophisticated professional-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries rely on BigCommerce, including Coldwater Creek, Harvey Nichols, King Arthur Baking Co., MKM Building Supplies, United Aqua Group and Uplift Desk. For more information, please visit www.bigcommerce.com or follow us on X and LinkedIn.

    Forward-Looking Statements
    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “outlook,” “may,” “might,” “plan,” “project,” “will,” “would,” “should,” “could,” “can,” “predict,” “potential,” “strategy,” “target,” “explore,” “continue,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. However, not all forward-looking statements contain these identifying words. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the forward-looking statements. These assumptions, uncertainties and risks include that, among others, our expectations regarding our revenue, expenses, sales, and operations; anticipated trends and challenges in our business and the markets in which we operate; the war involving Russia and Ukraine and the potential impact on our operations, global economic and geopolitical conditions; the impacts of changes in U.S. trade policy and global tariffs; our anticipated areas of investments and expectations relating to such investments; our anticipated cash needs and our estimates regarding our capital requirements and refinancing; our ability to compete in our industry and innovation by our competitors; our ability to anticipate market needs or develop new or enhanced services to meet those needs; our ability to manage growth and to expand our infrastructure; our ability to establish and maintain intellectual property rights; our ability to manage expansion into international markets and new industries; our ability to hire and retain key personnel; our ability to successfully identify, manage, and integrate any existing and potential acquisitions; our ability to adapt to emerging regulatory developments, technological changes, and cybersecurity needs; the anticipated effect on our business of litigation to which we are or may become a party; the anticipated benefits and opportunities related to past and ongoing restructuring may not be realized or may take longer to realize than expected; our ability to manage key executive succession and retention or continue to attract qualified personnel; our ability to implement a go-to-market strategy that focuses on efficient profitable revenue growth, operating leverage, and healthy cash flow, may be impacted by unforeseen challenges in streamlining our organization and adapting to market dynamics; and our ability to remediate the material weakness could negatively affect our business. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” and elsewhere in our filings with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2024, our Quarterly Report for the quarter ended March 31, 2025, and the future quarterly and current reports that we file with the SEC. Forward-looking statements speak only as of the date the statements are made and are based on information available to BigCommerce at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. BigCommerce assumes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.

    BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.

    Media Contact:
    Brad Hem
    pr@bigcommerce.com

    Investor Relations Contact:
    Tyler Duncan
    investorrelations@bigcommerce.com

    The MIL Network –

  • MIL-OSI: Timing Is Everything: DRML Miner Launches Scalable Cloud Mining and Opens the Smartest Way to Mine Bitcoin

    Source: GlobeNewswire (MIL-OSI)

    London, UK, July 01, 2025 (GLOBE NEWSWIRE) — Bitcoin has once again proven it plays by its own rules. While traditional markets struggle under inflation and uncertainty, BTC keeps shattering resistance levels. Investors who waited on the sidelines now watch as prices climb, wishing they’d acted sooner. Those who took a chance when everyone else was cautious are now celebrating hefty returns.

    This breakout is not just luck — it’s a testament to Bitcoin’s growing global acceptance. The question now is simple: how can you capitalize on this new surge without the stress of running your own mining operation? The answer lies with a powerful ally in the crypto space — DRML Miner.

    Introducing DRML Miner: The Future of Effortless Cloud Mining

    DRML Miner is more than just another mining platform. It’s a complete ecosystem built to let you profit from the crypto boom without the massive costs of traditional mining. Their platform was designed for both newcomers and serious investors who want a seamless, secure, and scalable way to mine Bitcoin and altcoins.

    Here’s why DRML Miner is transforming cloud mining:

    Instant Start: No bulky rigs. No tech headaches. Register, choose a plan, and start mining immediately.

    Affordable Entry: Get started with as little as $100. Scale your investment as your earnings grow.

    Daily Payouts: Enjoy stable, daily returns directly to your account.

    Ironclad Security: Advanced encryption protects every transaction.

    24/7 Support: A dedicated team ready to guide you whenever you need.

    No Surprise Fees: What you see is exactly what you pay.

    Breaking Away from the Crowd: Why It Pays to Go Against the Trend

    Many investors still fear entering the crypto market, burned by past volatility or confused by its complexity. But history favors those who move while others freeze. By the time the masses pile in, the biggest gains are often already gone.

    Partnering with DRML Miner means you’re positioning yourself at the forefront of this new wave. As Bitcoin continues to break new ground, your mining profits stand to grow in parallel. Instead of worrying about buying hardware, managing power bills, or figuring out mining pools, DRML does all the heavy lifting.

    Advanced Technology Means More Profits for You

    Unlike many old-school operations, DRML Miner uses cutting-edge algorithms and smart mining systems. Their tech team constantly upgrades their infrastructure, ensuring mining stays efficient even as network difficulty rises. This approach maximizes hash power and minimizes wasted energy, translating to more consistent earnings for you.

    Their online dashboard is equally powerful. It gives you a transparent, real-time view of your mining activity, your returns, and your wallet balance. Withdraw your earnings anytime — your money, your control.

    Why Bitcoin’s Surge Makes Now the Perfect Time

    With Bitcoin breaking through long-held barriers, there’s never been a better moment to get involved. Traditional markets are plagued by rising interest rates and unpredictable swings. Meanwhile, Bitcoin continues attracting institutional investors, solidifying its reputation as digital gold.

    Cloud mining through DRML Miner lets you ride this momentum without the steep barriers of traditional mining. No need for warehouse space, no hardware troubleshooting, no noise, no heat. Just sign up, fund your plan, and watch your crypto grow.

    Multiple Plans for Every Investor

    Whether you’re a cautious beginner or a seasoned whale, DRML Miner offers flexible plans tailored to your goals. Start small to get comfortable, then upgrade as you see steady returns. This flexibility is crucial in a rapidly changing market.

    Their minimum plan starts at just $100, making it accessible to almost anyone serious about building crypto wealth. From there, the sky’s the limit.

    Security and Transparency at Every Step

    In crypto, trust is everything. DRML Miner backs this up with airtight security protocols and transparent operations. All transactions use high-grade encryption. Your account is protected by multi-layer verification. And with no hidden fees, your payouts are exactly what you expect.

    Plus, their friendly support team is available around the clock, ready to answer any questions or solve any concerns. That’s true peace of mind.

    Step Boldly Into the New Era of Mining

    Going against the trend is how real wealth is built. While others stay cautious or wait for “the perfect time,” savvy investors are already mining, already earning, already building their digital futures.

    By partnering with DRML Miner, you join a platform that combines smart technology, real security, and a proven record of daily payouts. It’s your chance to lead — not follow — in the new era of cloud mining.

    Ready to Get Started?

    Don’t watch from the sidelines as Bitcoin continues to surge. Take action now. Visit https://drmlminers.com/ today, explore their mining plans, and set your financial future in motion. The new era of crypto wealth is here. Will you seize it?

     

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network –

  • MIL-OSI: Provident Financial Services, Inc. Schedules Second Quarter Earnings Conference Call

    Source: GlobeNewswire (MIL-OSI)

    ISELIN, N.J., July 01, 2025 (GLOBE NEWSWIRE) — Provident Financial Services, Inc. (NYSE: PFS) announced that it expects to release financial results for the quarter ended June 30, 2025 on Thursday, July 24, 2025 at 8:00am. A copy of the earnings release will be immediately available on the Company’s website, www.Provident.Bank, by going to Investor Relations and clicking on Press Releases.

    Representatives of the Company will hold a conference call for investors on July 24, 2025 at 2:00 p.m. (ET) to discuss the Company’s second quarter financial results. Information about the conference call is as follows:

    PARTICIPANT DIAL-IN NUMBERS:
    North America Toll-Free: (888) 412-4131
    International Toll: +1(646) 960-0134
    Conference ID 3610756
       

    Internet access to the call will be available (listen only) at www.Provident.Bank by going to Investor Relations and clicking on Webcast.

    A replay of the call will be available beginning at 12:00 noon (ET) on July 24, 2025 until 11:59 p.m. (ET) on August 7, 2025.

    Toll Free Dial in Number: 1-800-770-2030
    Toll Dial in Number: 1-609-800-9909
    Playback ID: 3610756 followed by # key
       

    The call will also be archived on the Company’s website for a period of one year.

    Provident Financial Services, Inc. is the holding company for Provident Bank. As of March 31, 2025, the Company reported assets of $24.22 billion. The Bank currently operates a network of full-service branches throughout New Jersey, eastern Pennsylvania, and Orange, Queens, and Nassau Counties, New York. The Bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company, and insurance services through its wholly owned subsidiary, Provident Protection Plus, Inc.

    SOURCE: Provident Financial Services, Inc.
    CONTACT: Investor Relations, 1-732-590-9300
    Web Site: http://www.Provident.Bank

    The MIL Network –

  • MIL-OSI Security: Serial Bank Robber Arrested for Allegedly Robbing Weymouth Bank at Gunpoint

    Source: US FBI

    Defendant previously convicted of robbing five banks across four separate cities and towns

    BOSTON – A Quincy man has been arrested and charged in connection with the December 2024 armed robbery of a Santander Bank in Weymouth.

    Glenn Legere, 46, of Quincy, was charged with one count of armed bank robbery. The defendant was arrested this morning and, following an initial appearance in federal court in Boston today, was ordered detained pending a hearing scheduled for July 8, 2025.

    According to the charging document, at approximately 4:52 p.m. on Dec. 17, 2024, local law enforcement was dispatched to a Santander bank branch in Weymouth for a reported bank robbery. There, it is alleged that a bank teller told law enforcement that as employees were preparing to close the bank, a man wearing a sweatshirt, baseball hat, face covering and gloves entered the bank through the main entrance. It is alleged that the suspect approached the victim teller’s window, removed a black firearm from the front pocket of his sweatshirt, opened a black cloth bag and demanded all the money. As the bank teller handed the suspect money from the cash box, the suspect allegedly yelled words to the effect of “I need money,” “I want the money” and “I don’t play.” At various times, the suspect allegedly pointed the firearm directly at the victim teller. It is further alleged that the suspect ran towards other teller windows, gesturing d towards the cash box areas and demanding more money, but the victim teller explained that there was no more money and displayed an empty cash drawer. The suspect allegedly then left the bank with approximately $947 in stolen cash.

    According to court documents, a subsequent review of surveillance video footage from nearby locations determined that the suspect drove to and from the robbery location in a silver or grey Jeep Grand Cherokee. A vehicle matching the description was captured on cameras in Quincy immediately before and after the robbery. It is alleged that the vehicle was registered to Legere. 
        
    Legere has multiple prior convictions for committing armed and unarmed robberies, including a 2011 conviction of armed robbery in Norfolk Superior Court for which he was sentenced to three to five years in state prison, as well as a 2010 conviction for armed and unarmed robbery of banks in Braintree, Hanover, Duxbury and Plymouth for which he was sentenced to three years in state prison.

    As stated in open court at the defendant’s initial appearance today, when Legere was arrested, a firearm and some of the clothing believed to be used by Legere during the robbery were recovered.

    The charge of armed bank robbery provides for a sentence of up to 25 years in prison, five years of supervised release and a fine of $250,000. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

    United States Attorney Leah B. Foley; Ted E. Docks, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division; Colonel Geoffrey D. Noble, Superintendent of the Massachusetts State Police; and Weymouth Police Chief Richard M. Fuller made the announcement today. Valuable assistance was provided by the Massachusetts State Police, the National Insurance Crime Bureau and the Wellesley Police Department. Assistant U.S. Attorney Luke A. Goldworm of the Major Crimes Unit is prosecuting the case.

    The details contained in the charging document are allegations. The defendant is presumed to be innocent unless and until proven guilty beyond a reasonable doubt in the court of law.  

    MIL Security OSI –

  • MIL-OSI Security: Michigan Man Sentenced to Two Years in Prison for Drug Distribution and Loan Fraud

    Source: US FBI

    BOSTON – A Michigan man was sentenced today in federal court in Boston for a conspiracy to import and sell illegal pharmaceuticals, including opioids, and to fund the operation of the scheme by fraudulently obtaining a COVID-19 pandemic relief loan.

    Donald Nchamukong, 37, was sentenced by U.S. Senior District Court Judge Nathaniel M. Gorton to two years in prison, to be followed by two years of supervised release. Nchamukong was also ordered to pay $200,000 in restitution. In March 2025, Nchamukong pleaded guilty to conspiracy to smuggle goods into the United States, committing loan fraud and distributing controlled substances.

    Starting in 2019 and continuing to 2022, Nchamukong and co-conspirator, Doyal Kalita, conspired to distribute drugs to persons in the United States over the internet and using call centers in India. Nchamukong used shell companies, including a purported dietary supplements company and an auto parts supplier, and associated bank and merchant accounts to process sales of illegal foreign drugs, including the Schedule IV opioid, tramadol. Nchamukong and Kalita also received shipments of tramadol from India and reshipped the drug to customers across the United States, including in Massachusetts. When the COVID-19 pandemic hit, Nchamukong and Kalita fraudulently obtained a $200,000 Economic Injury Disaster Loan to fund their illegal drug scheme.  

    In June 2024, Kalita was sentenced to 10 years in prison for orchestrating the online drug distribution scheme, a technical support fraud scheme and related money laundering.

    United States Attorney Leah B. Foley; Ted E. Docks, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division; Thomas Demeo, Acting Special Agent in Charge of the Internal Revenue Service Criminal Investigation, Boston Field Office; and Fernando P. McMillan, Special Agent in Charge of the New York Field Office of the U.S. Food and Drug Administration, Office of Criminal Investigations made the announcement today. Valuable assistance was provided by Homeland Security Investigations in New York, the Small Business Administration and the United States Attorney’s Office for the Eastern District of New York. Assistant U.S. Attorney Kriss Basil, Deputy Chief of the Securities, Financial & Cyber Fraud Unit  prosecuted the case.

    On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the department’s response to the pandemic, please visit https://www.justice.gov/coronavirus and https://www.justice.gov/coronavirus/combatingfraud.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud  Hotline via the NCDF Web Complaint Form.

    MIL Security OSI –

  • MIL-OSI Security: Franklin Man Pleads Guilty to Threatening a United States Senator

    Source: US FBI

    CONCORD – A Franklin man pleaded guilty today in federal court for making a threat in violation of federal law, Acting U.S. Attorney Jay McCormack announces.

    Brian Landry, age 69, pleaded guilty in federal court in Concord to one count of transmitting a threat in interstate communication.  U.S. District Court Judge Samantha Elliott scheduled Landry’s sentencing for October 2, 2025.

    According to the charging documents and statements made in court, on May 17, 2023, Landry left a voicemail at U.S. Senator #1’s district office stating: “Hey stupid I’m a veteran sniper.  And unless you change your ways, I got my scope pointed in your direction and I’m coming to get you.  You’re a dead man walking you piece of f***ing sh*t.”  Investigators identified the phone call as coming from a number associated with Landry.  When they interviewed Landry, he admitted to having called the Senator’s office but did not initially recall exactly what he said in the voicemail.

    The charge of conviction provides for a sentence of up to 5 years in prison, up to 3 years of supervised release, and a fine up to $250,000.  Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

    The Federal Bureau of Investigation and the United States Capitol Police led the investigation. Valuable assistance was provided by the New Hampshire State Police, the Franklin Police Department, and the Manchester Police Departments. Assistant U.S. Attorney Charles L. Rombeau is prosecuting the case.

    ###

    MIL Security OSI –

  • MIL-OSI: 38/2025・Trifork Group: Weekly report on share buyback

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 38 / 2025
    Schindellegi, Switzerland – 1 July 2025

    Trifork Group: Weekly report on share buyback

    On 28 February 2025, Trifork initiated a share buyback program in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, (Safe Harbour regulation). The share buyback program runs from 4 March 2025 up to and including no later than 30 June 2025. For details, please see company announcement no. 7 of 28 February 2025.

    Under the share buyback program, Trifork will purchase shares for up to a total of DKK 14.92 million (approximately EUR 2 million). Prior to the launch of the share buyback, Trifork held 256,329 treasury shares, corresponding to 1.3% of the share capital. Under the program, the following transactions have been made:

            Number of shares        Average purchase price (DKK)        Transaction value (DKK)
    Total beginning 131,724 89.36 11,771,127
    30 June 2025 1,800 92.95 167,310
    Accumulated 133,524 89.41 11,938,437
           

    A detailed overview of the daily transactions can be found here: https://investor.trifork.com/trifork-shares/. The number of shares bought back on 12 June 2025 was corrected from 1,900 to 1,800.

    Since the share buyback program was started on 4 March 2025, the total number of repurchased shares is 133,524 at a total amount of DKK 11,938,437.
    On 25 March, 25 April, 23 May and 25 June 2025, 5,739 shares acquired through the share buyback program were utilized for the Executive Management’s monthly fixed salary, representing a change from cash payment to payment partly in shares (refer to company announcement no. 1 of 21 January 2025). On 1 April and 30 June 2025, 20,306 shares acquired through the share buyback program were utilized to serve the RSU plan of Executive Management and certain employees.

    With the transactions stated above, Trifork holds a total of 363,808 treasury shares, corresponding to 1.8%. The total number of registered shares in Trifork is 19,744,899. Adjusted for treasury shares, the number of outstanding shares is 19,381,091.

    This concludes the share buyback program.

    Investor and media contact
    Frederik Svanholm, Group Investment Director, frsv@trifork.com, +41 79 357 73 17

    About Trifork
    Trifork (Nasdaq Copenhagen: TRIFOR) is a pioneering global technology company, empowering enterprise and public sector customers with innovative digital products and solutions. With 1,215 professionals across 71 business units in 16 countries, Trifork specializes in designing, building, and operating advanced software across sectors such as public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. The Group’s R&D arm, Trifork Labs, drives innovation by investing in and developing synergistic, high-potential technology companies. Learn more at trifork.com.

    Attachment

    The MIL Network –

  • MIL-OSI: Abacus Global Management Sues Coventry and its Chairman Alan Buerger for Defamation and Anticompetitive Conduct

    Source: GlobeNewswire (MIL-OSI)

    Coventry and Chairman Alan Buerger Engaged in Years-Long Campaign to Systematically Disseminate False and Misleading Information About the Publicly-Traded Company

    Coventry and Buerger Found a Key Partner and Megaphone for its Defamatory Statements: Short Seller Morpheus Research

    ORLANDO, Fla., July 01, 2025 (GLOBE NEWSWIRE) — Abacus Global Management, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a leader in the alternative asset management space, today provided the following statement:

    Coventry First LLC, parent company of life settlements provider Coventry Direct (“Coventry”), and its Chairman Alan Buerger engaged in a concentrated effort to manipulate market sentiment about its biggest competitor, Abacus Global Management, through a systematic campaign to disseminate false and misleading statements about Abacus to regulators, auditors, market analysts, customers, investors and the public, causing confusion, concern, and financial injury to Abacus, its clients, and its shareholders, according to a lawsuit filed last night by Abacus in Florida’s Ninth Circuit Court.

    The lawsuit alleges that a short report published by Morpheus Research on June 4, 2025 was Coventry’s latest attack on Abacus. Coventry will be responsible for hundreds of millions of dollars in damages should Abacus prove that Morpheus was acting as Coventry and Buerger’s willing partner and megaphone for the same defamatory statements Coventry was circulating about Abacus’ valuation methodology, statements regulators and market makers had ignored for months.

    The lawsuit details a multi-year effort by Coventry and its Chairman and founder, Alan Buerger, to cast doubt on Abacus’ valuation practices and stock price. Unable to compete with Abacus’ transparent pricing model and performance, Coventry and Buerger devised a scheme to undermine Abacus through false and misleading statements to convince the market that Abacus pays policyholders too much for their policies, causing an overvaluation of Abacus’ assets. This is more than idle talk: they have tried to convince anyone who will listen that the biggest threat to Coventry’s business is in fact illegitimate. 

    “This isn’t about competitive practices or even good faith criticism of a competitor’s business model – they clearly crossed the line into tortious interference and defamation,” said Abacus Global Management CEO Jay Jackson. “They’re losing market share to Abacus because we offer policyholders better terms and more transparent pricing, so instead of competing on product, they chose to try to manipulate markets by damaging Abacus’ reputation, confusing its customers, and undermining investor confidence with false statements. We’ve built a successful business through our fierce commitment to transparency – and we are going to fight back.”

    The lawsuit details the fundamental flaw at the center of Coventry’s false claims: Abacus buys policies from individuals​​ and sells them to investors. When the policies are sold to investors, who conduct their own evaluation of the policies’ value, the sale price consistently exceeds Abacus’ valuations. In short, the market is thoroughly and indisputably corroborating the value of Abacus’ assets and debunking Coventry’s central premise.

    “Coventry’s core claim is that top-tier investors like KKR are overpaying for life insurance policies—policies they’ve purchased from Abacus repeatedly over many years,” continued Abacus CEO Jackson. “Coventry essentially argues that they and Alan Buerger, with their less than sterling reputation, are more sophisticated investors than these major institutional firms. This claim is clearly absurd.”

    Coventry’s claim “deliberately ignores Abacus’ consistent and legally mandated disclosures that its publicly-traded balance sheet is valued ‘under the fair value method’ – that is, market price,” according to the filing.

    To convince the market that Abacus is not properly valuing its policies, Coventry targeted one of the six life expectancy estimate organizations Abacus uses, Lapetus Solutions. Coventry, and in particular Buerger, have “intentionally made false and misleading statements about Lapetus” through “purportedly independent but paid studies” that claim to show Lapetus systematically underestimates life expectancy. Coventry spread these false claims “across a wide range of audiences, each deliberately chosen to inflict maximum harm on Abacus,” including presenting its lies to: Abacus’s auditor, Grant Thornton; TD Securities, a market analyst tracking Abacus’ stock; the Securities and Exchange Commission (“SEC”) and included the defamatory claims about Abacus in a lawsuit against the Florida Office of Insurance Regulation (“OIR”).

    Coventry claims Abacus is using Lapetus to value the policies it holds on its balance sheet, thereby inflating the value of each policy based on inaccurate life expectancy estimates. But as the lawsuit explains, quoting public filings, Abacus has repeatedly disclosed that it “does not use a life expectancy valuation model to value the policies,” rendering the entire accusation meritless. Separately, Abacus uses Lapetus as one of six life expectancy provider inputs when determining the price it will pay seniors for their policies, and not to derive its balance sheet valuations. If Coventry is correct that Lapetus is underestimating life expectancy, then it means Abacus is simply overpaying senior citizens for their policies.

    Abacus alleges that Coventry and Buerger recently “took these insinuations to the next level” when Buerger gave an interview, on the Tegus expert network platform, in which he accused Abacus of “manufactur[ing] earnings,” said that its “stockholders…will be subordinated to the asset-backed debt, which is to say they will all be wiped out when this thing goes upside down,” falsely repeating that Abacus, was “us[ing] Lapetus…primarily,” and predicting, “it’s just a matter of time before [Abacus] implodes.”

    The reality, found in the lawsuit filed today, is Abacus’s financial statements and internal controls over financial reporting have been found “in compliance with GAAP by a respected public company auditor in every annual audit,” that Abacus “has zero asset-backed debt” that can layer other investors in its capital structure, and that Abacus does not use Lapetus “to value the assets on its balance sheet, nor has it ever done so.”

    Coventry and Buerger also solicited “multiple short sellers to write a hit piece on Abacus, regurgitating the same false claims about Lapetus and Abacus’s valuation” with at least one prominent short seller who turned them down, noting “that senior citizens are making too much money off of selling their insurance policies is not a compelling story.”

    But eventually, Coventry and Buerger found a willing partner and megaphone for its defamatory statements: short seller Morpheus Research.

    Buerger’s interview was released to investors for the first time on June 4, 2025, 90 minutes before markets opened. Three hours later, Morpheus Research issued a short report that quoted Buerger’s most inflammatory accusations and heavily cited Coventry’s “research” on Lapetus.

    Within minutes, Abacus stock (NASDAQ: ABL) dropped more than 21%, erasing more than $200 million in market capitalization, based on well-trafficked lies.

    The lawsuit alleges Morpheus was acting as Coventry’s and Buerger’s willing partner and megaphone for the same defamatory statements about the Abacus valuation methodology, which regulators and market makers had ignored for months. The short report from Morpheus “parrots the same or similar false and misleading statements that Coventry had previously peddled.” As Morpheus acknowledges, one of its “sources” for the report includes “Abacus competitors,” a.k.a. Coventry, and ​​Morpheus timed the report to coincide with the release of Buerger’s Tegus interview.

    In the wake of Buerger’s interview and the report from Morpheus Research, Abacus is fielding questions from investors “parroting the points Coventry has been shilling for over a year,” and Buerger is “communicating directly with Abacus investors, and disseminating his misleading study of Lapetus.”

    The filing notes: “Coventry’s relentless campaign against Abacus has caused substantial harm to the company and its shareholders. Coventry’s false narrative attempts to project its own financial vulnerabilities onto Abacus, but the facts demonstrate otherwise. The market analysts who came to Abacus’ defense after the short report recognize the truth: Abacus’ transparent approach is a ray of sunshine in an otherwise beleaguered industry, and that explains its rapid rise.”

    Further, the lawsuit details how Coventry is “the poster child” for unsavory behavior in the industry, including:

    • Bid-rigging charges from the New York Attorney General;
    • Settling a multi-billion-dollar fraud case brought by AIG;
    • A Florida Office of Insurance Regulation investigation and a subsequent consent order requiring Coventry to adopt a remedial business plan;
    • A federal Court of Appeals characterized Coventry’s policy origination practices as “illegal”; and how
    • Coventry has been a leading player in Stranger-originated life insurance (STOLI), a practice widely viewed as illegal, and the SEC has noted the practice “​​may encourage fraud”, and multiple states have banned the practice.

    Abacus is represented in the lawsuit by Quinn Emanuel Urquhart & Sullivan LLP. Abacus is seeking hundreds of millions in damages, some of which are still accruing, from the harms to its reputation, its customer base, and its relationships with current and potential investors.

    The full filing can be read here.

    Contacts:
    Investor Relations
    Robert F. Phillips – SVP Investor Relations and Corporate Affairs
    rob@abacusgm.com
    (321) 290-1198

    David Jackson – Director of IR/Capital Markets
    david@abacusgm.com
    (321) 299-0716

    Abacus Global Management Public Relations
    press@abacusgm.com

    The MIL Network –

  • MIL-OSI: XAI Octagon Floating Rate & Alternative Income Trust Declares its Monthly Common Shares Distribution and Quarterly Preferred Shares Dividend

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, July 01, 2025 (GLOBE NEWSWIRE) — XAI Octagon Floating Rate & Alternative Income Trust (the “Trust”) has declared its regular monthly distribution of $0.070 per share of the Trust’s common shares (NYSE: XFLT). The Trust also declared preferred dividends for the quarter of $0.40625 per share of the Trust’s 6.50% Series 2026 Term Preferred Shares (NYSE: XFLTPRA).

    The following dates apply to each declaration:

    Share Class Ex-Dividend Date Record Date Payable Date Amount Change
    from
    Previous
    Declaration
    XFLT July 15, 2025 July 15, 2025 August 1, 2025 $0.070 No Change
    XFLTPRA July 15, 2025 July 15, 2025 July 31, 2025 $0.40625 No Change1

    Common share distributions may be paid from net investment income (regular interest and dividends), capital gains and/or a return of capital. The specific tax characteristics of the distributions will be reported to the Trust’s common shareholders on Form 1099 after the end of the 2025 calendar year. Shareholders should not assume that the source of a distribution from the Trust is net income or profit. For further information regarding the Trust’s distributions, please visit www.xainvestments.com.

    The Trust’s net investment income and capital gain can vary significantly over time; however, the Trust seeks to maintain more stable common share monthly distributions over time. The Trust’s investments in CLOs are subject to complex tax rules and the calculation of taxable income attributed to an investment in CLO subordinated notes can be dramatically different from the calculation of income for financial reporting purposes under accounting principles generally accepted in the United States (“U.S. GAAP”), and, as a result, there may be significant differences between the Trust’s GAAP income and its taxable income. The Trust’s final taxable income for the current fiscal year will not be known until the Trust’s tax returns are filed.

    As a registered investment company, the Trust is subject to a 4% excise tax that is imposed if the Trust does not distribute to common shareholders by the end of any calendar year at least the sum of (i) 98% of its ordinary income (not taking into account any capital gain or loss) for the calendar year and (ii) 98.2% of its capital gain in excess of its capital loss (adjusted for certain ordinary losses) for a one-year period generally ending on January 31 of the calendar year (unless an election is made to use the Trust’s fiscal year). In certain circumstances, the Trust may elect to retain income or capital gain to the extent that the Board of Trustees, in consultation with Trust management, determines it to be in the interest of shareholders to do so.

    The common share distributions paid by the Trust for any particular period may be more than the amount of net investment income from that period. As a result, all or a portion of a distribution may be a return of capital, which is in effect a partial return of the amount a common shareholder invested in the Trust, up to the amount of the common shareholder’s tax basis in their common shares, which would reduce such tax basis. Although a return of capital may not be taxable, it will generally increase the common shareholder’s potential gain, or reduce the common shareholder’s potential loss, on any subsequent sale or other disposition of common shares.

    Preferred shareholders are entitled to receive cumulative cash dividends and distributions on the Trust’s 6.50% Series 2026 Term Preferred Shares, when, as and if declared by, or under authority granted by, the Board of Trustees of the Trust out of funds legally available for distribution and in preference to dividends and distributions on common shares. If the Trust is unable to distribute the full dividend amount due in a dividend period on the Trust’s 6.50% Series 2026 Term Preferred Shares, the dividends will be distributed on a pro rata basis among the preferred shareholders.

    Distributions and dividends shall be paid on the Payable Date listed above unless the payment of such distribution or dividend is deferred by the Board of Trustees upon a determination that such deferral is required in order to comply with applicable law, to ensure that the Trust remains solvent and able to pay its debts as they become due and continue as a going concern or, with regard to the Trust’s regular monthly distribution to common shareholders, to comply with the applicable terms or financial covenants of the Trust’s senior securities.

    Future common share distributions will be made if and when declared by the Trust’s Board of Trustees, after the evaluation of several factors, including the Trust’s continued compliance with terms and financial covenants of its senior securities, the Trust’s net investment income, financial performance and available cash. There can be no assurance that the amount or timing of common share distributions in the future will be equal or similar to that described herein or that the Board of Trustees will not decide to suspend or discontinue the payment of common share distributions in the future.

    The investment objective of the Trust is to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle. The Trust seeks to achieve its investment objective by investing in a dynamically managed portfolio of opportunities primarily within the private credit markets. Under normal market conditions, the Trust will invest at least 80% of its Managed Assets in floating rate credit instruments and other structured credit investments. There can be no assurance that the Trust will achieve its investment objective.

    The Trust’s common shares are traded on the New York Stock Exchange under the symbol “XFLT,” and the Trust’s 6.50% Series 2026 Term Preferred Shares are traded on the New York Stock Exchange under the symbol “XFLTPRA.”

    About XA Investments
    XA Investments LLC (“XAI”) serves as the Trust’s investment adviser. XAI is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund. The listed closed-end funds, the XAI Octagon Floating Rate & Alternative Income Trust and XAI Madison Equity Premium Income Fund both trade on the New York Stock Exchange and the interval fund, Octagon XAI CLO Income Fund is available via direct subscription and through select broker/dealers and wealth management platforms.

    In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including development and market research, sales, marketing, and fund management.

    XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. XAI provides individual investors with access to institutional-caliber alternative managers. For more information, please visit www.xainvestments.com.

    About XMS Capital Partners

    XMS Capital Partners, LLC, established in 2006, is a global, independent, financial services firm providing M&A, corporate advisory and asset management services to clients. It has offices in Chicago, Boston and London. For more information, please visit www.xmscapital.com.

    About Octagon Credit Investors
    Octagon Credit Investors, LLC (“Octagon”) serves as the Trust’s investment sub-adviser. Octagon is a 25+ year old, $32.1B below-investment grade corporate credit investment adviser focused on leveraged loan, high yield bond and structured credit (CLO debt and equity) investments. Through fundamental credit analysis and active portfolio management, Octagon’s investment team identifies attractive relative value opportunities across below-investment grade asset classes, sectors and issuers. Octagon’s investment philosophy and methodology encourage and rely upon dynamic internal communication to manage portfolio risk. Over its history, the firm has applied a disciplined, repeatable and scalable approach in its effort to generate attractive risk-adjusted returns for its investors. For more information, please visit www.octagoncredit.com.

    XAI does not provide tax advice; please consult a professional tax advisor regarding your specific tax situation. Income may be subject to state and local taxes, as well as the federal alternative minimum tax.

    Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Trust carefully before investing. For more information on the Trust, please visit the Trust’s webpage at www.xainvestments.com.

    This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

             
    NOT FDIC INSURED    NO BANK GUARANTEE    MAY LOSE VALUE
             
    Paralel Distributors, LLC – Distributor


    Media Contact:

    Kimberly Flynn, President

    XA Investments LLC
    Phone: 888-903-3358
    Email: KFlynn@XAInvestments.com
    www.xainvestments.com

    1 The Trust’s 6.50% Series 2026 Term Preferred Shares dividend is calculated based on the preferred shares Liquidation Preference of $25.00 per share and the fixed dividend rate of 6.50%.

    The MIL Network –

  • MIL-OSI: XAI Madison Equity Premium Income Fund Declares its Monthly Distribution of $0.060 per Share

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, July 01, 2025 (GLOBE NEWSWIRE) — XAI Madison Equity Premium Income Fund (the “Fund”), has declared its regular monthly distribution of $0.060 per share on the Fund’s common shares (NYSE: MCN) payable on August 1, 2025. The amount represents no change from the previous month’s distribution amount.

    As mentioned in previous distribution declarations, the Fund has changed its distribution frequency from quarterly to monthly, which went into effect with the April 1, 2025 declaration.

    Ex-Dividend Date   July 15, 2025
       
    Record Date   July 15, 2025
       
    Payable Date   August 1, 2025
       
    Amount   $0.060 per share
       
    Change from Previous Month   No Change

    The following dates apply to the declaration:

    Common share distributions may be paid from net investment income (regular interest and dividends), capital gains and/or a return of capital. The specific tax characteristics of the distributions will be reported to the Fund’s common shareholders on Form 1099 after the end of the 2025 calendar year. Shareholders should not assume that the source of a distribution from the Fund is net income or profit. For further information regarding the Fund’s distributions, please visit www.xainvestments.com.

    The Fund’s net investment income and capital gain can vary significantly over time; however, the Fund seeks to maintain more stable common share quarterly distributions over time. The Fund’s final taxable income for the current fiscal year will not be known until the Fund’s tax returns are filed.

    As a registered investment company, the Fund is subject to a 4% excise tax that is imposed if the Fund does not distribute to common shareholders by the end of any calendar year at least the sum of (i) 98% of its ordinary income (not taking into account any capital gain or loss) for the calendar year and (ii) 98.2% of its capital gain in excess of its capital loss (adjusted for certain ordinary losses) for a one-year period generally ending on December 31 of the calendar year (unless an election is made to use the Fund’s fiscal year). In certain circumstances, the Fund may elect to retain income or capital gain to the extent that the Board of Trustees, in consultation with Fund management, determines it to be in the interest of shareholders to do so.

    The common share distributions paid by the Fund for any particular period may be more than the amount of net investment income from that period. As a result, all or a portion of a distribution may be a return of capital, which is in effect a partial return of the amount a common shareholder invested in the Fund, up to the amount of the common shareholder’s tax basis in their common shares, which would reduce such tax basis. Although a return of capital may not be taxable, it will generally increase the common shareholder’s potential gain, or reduce the common shareholder’s potential loss, on any subsequent sale or other disposition of common shares.

    Future common share distributions will be made if and when declared by the Fund’s Board of Trustees, after the evaluation of several factors, including the Fund’s net investment income, financial performance and available cash. There can be no assurance that the amount or timing of common share distributions in the future will be equal or similar to that described herein or that the Board of Trustees will not decide to suspend or discontinue the payment of common share distributions in the future.

    The Fund’s objective is to achieve a high level of current income and current capital gains, with long-term capital appreciation as a secondary objective. The Fund intends to pursue its objective by investing in a portfolio of common stocks and utilizing an option strategy, primarily by writing (selling) covered call options on a substantial portion of the common stocks in the portfolio in order to generate current income and gains from option writing premiums and, to a lesser extent, from dividends. Market action can impact dividend issuance as the Fund’s total assets affect the Fund’s future dividend prospects. The Fund provides additional information on its website at www.xainvestments.com.

    About XA Investments

    XA Investments LLC (“XAI”) serves as the Fund’s investment adviser. XAI is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund. The listed closed-end funds, the XAI Octagon Floating Rate & Alternative Income Trust and XAI Madison Equity Premium Income Fund both trade on the New York Stock Exchange and the interval fund, Octagon XAI CLO Income Fund is available via direct subscription and through select broker/dealers and wealth management platforms.

    In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including development and market research, sales, marketing, and fund management.

    XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. XAI provides individual investors with access to institutional-caliber alternative managers. For more information, please visit www.xainvestments.com.

    About XMS Capital Partners
    XMS Capital Partners, LLC, established in 2006, is a global, independent, financial services firm providing M&A, corporate advisory and asset management services to clients. It has offices in Chicago, Boston and London. For more information, please visit www.xmscapital.com.

    About Madison Investments
    Madison Investments is an independent investment management firm based in Madison, WI. The firm was founded in 1974, has approximately $28.3 billion in assets under management as of March 31, 2025, and is recognized as one of the nation’s top investment firms. Madison offers domestic fixed income, U.S. and international equity, covered call, multi-asset, insurance and credit union investment management strategies. For more information, please visit www.madisoninvestments.com.

    Madison and/or Madison Investments is the unifying tradename of Madison Investment Holdings, Inc., Madison Asset Management, LLC, and Madison Investment Advisors, LLC. Madison Funds are distributed by MFD Distributor, LLC. Madison is registered as an investment adviser with the U.S. Securities and Exchange Commission. MFD Distributor, LLC is registered with the U.S. Securities and Exchange Commission as a broker-dealer and is a member firm of the Financial Industry Regulatory Authority www.finra.org.

    XAI does not provide tax advice; please consult a professional tax advisor regarding your specific tax situation. Income may be subject to state and local taxes, as well as the federal alternative minimum tax.

    Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Fund carefully before investing. For more information on the Fund, please visit the Fund’s webpage at www.xainvestments.com.

    This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

             
    NOT FDIC INSURED    NO BANK GUARANTEE    MAY LOSE VALUE

    Media Contact:

    Kimberly Flynn, President
    XA Investments LLC
    Phone: 888-903-3358
    Email: KFlynn@XAInvestments.com
    www.xainvestments.com

    The MIL Network –

  • MIL-OSI: GAMCO Expects to Report Diluted EPS for the Second Quarter 2025 of $0.89 to $0.94 Per Share

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., July 01, 2025 (GLOBE NEWSWIRE) — GAMCO Investors, Inc. (“Gabelli”) (OTCQX: GAMI) announced today that assets under management (“AUM”) were $33.3 billion at June 30, 2025 as compared to $30.7 billion at June 30, 2024.

    Gabelli expects to report second quarter 2025 diluted earnings in the range of $0.89 to $0.94 per share versus $0.61 per share for the second quarter of 2024.

    These results include the investment management services business of Keeley acquired from Teton Advisors, Inc. (OTC Pink: TETAA) on May 1, 2025. Keeley consists of four mutual funds and approximately 500 separately managed accounts (SMAs) with AUM of close to $1.0 billion.

    Gabelli plans to review further details with its financial results in early August.

    About GAMCO Investors, Inc.

    Gabelli (OTCQX: GAMI), established in 1977, is a widely-recognized provider of investment advisory services to 27 open-end funds, 13 United States closed-end funds and one United Kingdom limited investment company, 5 actively managed exchange traded funds, one société d’investissement à capital variable, and approximately 1,900 institutional and private wealth management investors principally in the U.S. The Company’s revenues are based primarily on the levels of assets under management and fees associated with the various investment products.

    In 1977, Gabelli launched its well-known All Cap Value equity strategy, Gabelli Value, in a separate account format and in 1986 entered the mutual fund business. Today, Gabelli offers a diverse set of client solutions across asset classes (e.g. Equities, Debt Instruments, Convertibles, non-market correlated Merger Arbitrage), regions, market capitalizations, sectors (e.g. Gold, Utilities) and investment styles (e.g. Value, Growth). Gabelli serves a broad client base, including institutions, intermediaries, offshore investors, private wealth, and direct retail investors.

    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

    The financial results set forth in this press release are preliminary. Our disclosure and analysis in this press release, which do not present historical information, contain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.  Forward-looking statements convey our current expectations or forecasts of future events. You can identify these statements because they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning. They also appear in any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, the economy, and other conditions, there can be no assurance that our actual results will not differ materially from what we expect or believe. Therefore, you should proceed with caution in relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance.

    Forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors, some of which are listed below, that are difficult to predict and could cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements. Some of the factors that may cause our actual results to differ from our expectations include risks associated with a decline in the securities markets that adversely affect our assets under management, negative performance of our products, the failure to perform as required under our investment management agreements, and a general downturn in the economy that negatively impacts our operations. We also direct your attention to the more specific discussions of these and other risks, uncertainties and other important factors contained in our Annual Report and other public filings. Other factors that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake to update publicly any forward-looking statements if we subsequently learn that we are unlikely to achieve our expectations whether as a result of new information, future developments or otherwise, except as may be required by law.

    Contact: Kieran Caterina
      SVP, Chief Accounting Officer
      (914) 921-5149
       
      For further information please visit
      www.gabelli.com

    The MIL Network –

  • MIL-OSI: Occidental to Announce Second Quarter Results Wednesday, August 6, 2025; Hold Conference Call Thursday, August 7, 2025

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, July 01, 2025 (GLOBE NEWSWIRE) — Occidental (NYSE: OXY) will announce its second quarter 2025 financial results after close of market on Wednesday, August 6, 2025, and will hold a conference call to discuss the results on Thursday, August 7, 2025, at 1 p.m. Eastern/12 p.m. Central.

    The conference call may be accessed by calling 1-866-871-6512 (international callers dial 1-412-317-5417) or via webcast at oxy.com/investors. Participants may pre-register for the conference call at https://dpregister.com/sreg/10200631/ff63fe0694.

    Second quarter 2025 financial results will be available through the Investor Relations section of the company’s website. A recording of the webcast will be posted on the website within several hours after the call is completed.

    About Occidental

    Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of America. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas, and includes our Oxy Low Carbon Ventures subsidiary, which is advancing leading-edge technologies and business solutions that economically grow our business while reducing emissions. Our chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products. We are dedicated to using our global leadership in carbon management to advance a lower-carbon world. Visit Oxy.com for more information.

    Contacts

    The MIL Network –

  • MIL-OSI USA: Warren, Wyden, Sanders, Gillibrand Demand Answers on “Reckless” AI Tool Rollout at SSA

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    July 01, 2025

    Reporting revealed AI program delayed Social Security retirement claims processing by 25 percent

    “We are concerned that SSA will make even bigger mistakes in incorporating AI into higher-risk tasks, particularly in roles that could jeopardize Americans’ financial security.”

    Text of Letter (PDF)

    Washington, D.C. – U.S. Senators Elizabeth Warren (D-Mass.), Ron Wyden (D-Ore.), Ranking Member of the Senate Finance Committee, Bernie Sanders (I-Vt.), and Kirsten Gillibrand (D-N.Y.) sent a letter to  Social Security Administration (SSA) Commissioner Frank Bisignano, demanding answers on the reckless installation of artificial intelligence (AI) into SSA’s phone systems, which have blocked people from accessing their earned Social Security benefits—all while leaving Congress, advocates, and the American people in the dark.  

    “This lack of communication from your agency undermines its efforts to improve services by sowing chaos and confusion, which breeds distrust in the agency and its leadership,” wrote the senators.

    SSA is rushing to incorporate a new AI tool into its national 1-800 number and the phone systems of 1,200 field offices—without having sought input from advocates, Congress, or the American people. SSA made this rash decision just a month after it was forced to abandon its fraud-detection AI chatbot, which slowed claims processing by 25%—and found that fraud is essentially non-existent. 

    The senators emphasized that the Trump administration failed to develop comprehensive AI policies and follow basic IT guidelines. Under previous SSA Commissioner O’Malley, the agency developed policies that would foster Americans’ trust in SSA’s use of AI. 

    “As the Senate committee with jurisdiction over the Social Security and SSI programs, we have a responsibility to ensure SSA pays the right benefit amount to the right person at the right time, provides the public with the level of customer service they expect, and is a responsible steward of taxpayer dollars, including overseeing SSA’s development and adoption of emerging technology like AI,” concluded the senators.

    To further understand how SSA will change its reckless actions of implementing AI systems without consultation, the senators requested answers to the following questions by July 18, 2025:

    1. Please provide a detailed description of the new AI-based chatbot, including how it determines whether it has successfully answered a caller’s questions before hanging up? 

    2. What metrics is SSA using to determine whether this AI-based chatbot is successful at improving service delivery at the national 1-800 number?

    3. What metrics did SSA use to evaluate the successes or challenges of this AI-based chatbot before rolling it out nationwide to field offices?

    4. What stakeholders, especially those who represent beneficiaries and employees, were consulted pre- and post-deployment of this AI-based chatbot?

    5. Is SSA planning to procure, develop, or implement any new AI systems this year? If so, please list and provide a detailed description of these AI systems, their expected implementation dates, how they are expected to improve service delivery, and what steps SSA will be taking to prevent disruptions to services during the transition. 

    MIL OSI USA News –

  • MIL-OSI USA: Gov. Kemp Nominates Frank O’Connell for Georgia Tax Court Chief Judge

    Source: US State of Georgia

    ATLANTA – Governor Brian P. Kemp today nominated Frank O’Connell for appointment to the Chief Judge position of the newly-created Georgia Tax Court. The Court will bring improved efficiency in the adjudication of tax cases at the state level and was created by a constitutional amendment approved by Georgia voters during the November 2024 election. Pending his confirmation by the Georgia House and Senate Judiciary committees, O’Connell’s four-year term as Chief tax court judge will begin on April 1, 2026.

    “Georgia taxpayers deserve leadership at the Department of Revenue that recognizes who they are most accountable to and as commissioner, Frank O’Connell has never forgotten that – serving the people of our state with honor and great work ethic,” said Governor Brian Kemp. “That’s why I’m again asking Frank to serve in a leadership position that will benefit the entire state. Marty and I are confident that with his skills and expertise, he will bring the same level of dedication to this new role.”

    “Georgia’s fiscal stability and success is a testament of the great leadership from public servants like Frank O’Connell,” said Lt. Governor Burt Jones. “Commisisoner O’Connell has led the Department of Revenue well and I believe he will continue to be a great leader for Georgia in this new role. I look forward to working with him and seeing his expertise positively impact Georgia’s tax court.”

    “Frank O’Connell has served the hardworking taxpayers of our state with integrity and dedication for over two decades,” said House Speaker Jon Burns. “Like our colleagues in the Senate, we look forward to confirming his appointment as Chief Judge of the Georgia Tax Court.”

    Frank M. O’Connell currently serves as Commissioner of the Georgia Department of Revenue, following his appointment by Governor Kemp to that role in February 2023. O’Connell previously served as Deputy Commissioner and as General Counsel for the Georgia Department of Revenue. He began his 21 years of service with the State of Georgia in the Department of Revenue’s Compliance Division and transferred to what is now the Office of General Counsel as Assistant Director before his appointment as General Counsel.

    In his previous role as Deputy Commissioner, O’Connell was responsible for the Tax Operations divisions of Audits, Taxpayer Services, Compliance, and Processing, and the External Operations divisions of Motor Vehicle Tag & Title, Alcohol & Tobacco Regulation, Local Government Services, and Special Investigations.  In his role as General Counsel where O’Connell spent most of his DOR career, he oversaw the drafting of legislative bills for the Department’s annual legislative package, the drafting of all DOR tax, alcohol & tobacco, and motor vehicle regulations, and advised the Department on agency contracts, Open Records Act responses, and the application of confidentiality laws protecting taxpayer data.

    Prior to joining the Georgia Department of Revenue in 2003, Mr. O’Connell consulted in state and local taxation for ten years at two “Big Four” accounting firms. A member of the Tax Section of the State Bar of Georgia, Mr. O’Connell received his law degree from the University of Notre Dame and his LL.M. in Taxation from New York University.

    O’Connell resides in East Cobb with his wife, Shelia.

    MIL OSI USA News –

  • MIL-OSI USA: Four Family Members Charged in Multimillion-Dollar Tax Refund Fraud Scheme

    Source: US State of California

    A federal grand jury in Fort Worth, Texas, returned an indictment on June 11, unsealed yesterday, charging four family members with conspiracy to defraud the United States by filing tax returns that sought millions of dollars in false refunds.

    The following is according to the indictment: beginning in 2016, David Hunt, of Arlington, Texas, his twin sons Brandon Hunt and Baylon Hunt, also of Arlington, and Brandon and Baylon’s half-brother Corey Burt, of Mississippi, allegedly conspired to file false tax returns in the name of purported trusts that sought over $8.5 million in tax refunds that the trusts were not entitled to receive. Brandon Hunt also filed a false return in his own name. Collectively, the defendants allegedly received over $1 million from the IRS based on those false tax returns.

    Brandon and Baylon Hunt also allegedly submitted additional fake documents to the IRS as part of their scheme, including falsified financial instruments and altered money orders. The indictment further alleges that they shared in the proceeds of their fraud by transferring money between themselves. The defendants also allegedly used the refunds to purchase luxury goods, cryptocurrency, and real estate.

    Each defendant was charged with conspiracy as well as aiding and assisting in the preparation of tax returns. If convicted, each defendant faces a maximum penalty of five years in prison on the conspiracy charge and a maximum penalty of three years in prison for each count of aiding and assisting in the preparation of a false tax return. The defendants also face a period of supervised release, restitution, and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General for Criminal Karen E. Kelly of the Justice Department’s Tax Division and Acting U.S. Attorney Nancy Larson of the Northern District of Texas made the announcement.

    IRS Criminal Investigation is investigating the case.

    Trial Attorneys Melissa Siskind and Daniel Lipkowitz of the Tax Division and Assistant U.S. Attorney Matthew Weybrecht for the Northern District of Texas are prosecuting the case.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News –

  • MIL-OSI Security: Four Family Members Charged in Multimillion-Dollar Tax Refund Fraud Scheme

    Source: United States Attorneys General

    A federal grand jury in Fort Worth, Texas, returned an indictment on June 11, unsealed yesterday, charging four family members with conspiracy to defraud the United States by filing tax returns that sought millions of dollars in false refunds.

    The following is according to the indictment: beginning in 2016, David Hunt, of Arlington, Texas, his twin sons Brandon Hunt and Baylon Hunt, also of Arlington, and Brandon and Baylon’s half-brother Corey Burt, of Mississippi, allegedly conspired to file false tax returns in the name of purported trusts that sought over $8.5 million in tax refunds that the trusts were not entitled to receive. Brandon Hunt also filed a false return in his own name. Collectively, the defendants allegedly received over $1 million from the IRS based on those false tax returns.

    Brandon and Baylon Hunt also allegedly submitted additional fake documents to the IRS as part of their scheme, including falsified financial instruments and altered money orders. The indictment further alleges that they shared in the proceeds of their fraud by transferring money between themselves. The defendants also allegedly used the refunds to purchase luxury goods, cryptocurrency, and real estate.

    Each defendant was charged with conspiracy as well as aiding and assisting in the preparation of tax returns. If convicted, each defendant faces a maximum penalty of five years in prison on the conspiracy charge and a maximum penalty of three years in prison for each count of aiding and assisting in the preparation of a false tax return. The defendants also face a period of supervised release, restitution, and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General for Criminal Karen E. Kelly of the Justice Department’s Tax Division and Acting U.S. Attorney Nancy Larson of the Northern District of Texas made the announcement.

    IRS Criminal Investigation is investigating the case.

    Trial Attorneys Melissa Siskind and Daniel Lipkowitz of the Tax Division and Assistant U.S. Attorney Matthew Weybrecht for the Northern District of Texas are prosecuting the case.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

  • MIL-OSI: Nasdaq Announces the Board of Directors of its U.S. Exchanges

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq: NDAQ) today announced the election of all nominated directors to the boards of the U.S. exchanges operated by the company, which include The Nasdaq Stock Market LLC, Nasdaq PHLX LLC, Nasdaq BX, Inc., Nasdaq ISE, LLC, Nasdaq MRX, LLC, and Nasdaq GEMX, LLC:

    • Kathlyn Card Beckles, Chief Legal Officer, Verisk Analytics, Inc.
    • Michael J. Curran, Retired Chairman and CEO, Boston Stock Exchange
    • Anne Marie Darling, Group Co-Chief Operating Officer and Barclays Execution Services Co-Chief Executive Officer, Barclays
    • Kevin Kennedy, EVP, North American Markets, Nasdaq
    • Thomas A. Kloet, Retired CEO and Executive Director, TMX Group Limited
    • Anita Lynch, Former Chief Data Officer, New Relic, Inc.
    • David Rosato, Chief Financial Officer & Treasurer, Eastern Bancshares
    • Andrew J. Schultz, Head of Strategic Options Business, The Susquehanna International Group of Companies
    • Elizabeth Wideman, SVP and Senior Deputy General Counsel, Comcast Corporation
    • Thomas A. Wittman, Retired EVP and Head of Global Trading and Market Services, Nasdaq

    For further governance information, visit: http://ir.nasdaq.com/corporate-governance/nasdaq-stock-market/board-of-directors.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Media Relations Contact:

    Chris Hayden
    +1.301.523.5829
    Christopher.Hayden@nasdaq.com

    Investor Relations Contact

    Ato Garrett
    +1.212.401.8737
    Ato.Garrett@Nasdaq.com

    -NDAQF-

    The MIL Network –

  • MIL-OSI: Nasdaq Announces the Board of Directors of its U.S. Exchanges

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq: NDAQ) today announced the election of all nominated directors to the boards of the U.S. exchanges operated by the company, which include The Nasdaq Stock Market LLC, Nasdaq PHLX LLC, Nasdaq BX, Inc., Nasdaq ISE, LLC, Nasdaq MRX, LLC, and Nasdaq GEMX, LLC:

    • Kathlyn Card Beckles, Chief Legal Officer, Verisk Analytics, Inc.
    • Michael J. Curran, Retired Chairman and CEO, Boston Stock Exchange
    • Anne Marie Darling, Group Co-Chief Operating Officer and Barclays Execution Services Co-Chief Executive Officer, Barclays
    • Kevin Kennedy, EVP, North American Markets, Nasdaq
    • Thomas A. Kloet, Retired CEO and Executive Director, TMX Group Limited
    • Anita Lynch, Former Chief Data Officer, New Relic, Inc.
    • David Rosato, Chief Financial Officer & Treasurer, Eastern Bancshares
    • Andrew J. Schultz, Head of Strategic Options Business, The Susquehanna International Group of Companies
    • Elizabeth Wideman, SVP and Senior Deputy General Counsel, Comcast Corporation
    • Thomas A. Wittman, Retired EVP and Head of Global Trading and Market Services, Nasdaq

    For further governance information, visit: http://ir.nasdaq.com/corporate-governance/nasdaq-stock-market/board-of-directors.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Media Relations Contact:

    Chris Hayden
    +1.301.523.5829
    Christopher.Hayden@nasdaq.com

    Investor Relations Contact

    Ato Garrett
    +1.212.401.8737
    Ato.Garrett@Nasdaq.com

    -NDAQF-

    The MIL Network –

  • MIL-OSI: Eos Energy Announces Second Funding Under Its Department of Energy Loan Guarantee to Fuel U.S. Battery Manufacturing Capacity Expansion

    Source: GlobeNewswire (MIL-OSI)

    TURTLE CREEK, Pa., July 01, 2025 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos” or the “Company”), an American energy company and the leading innovator in designing, sourcing, manufacturing, and providing zinc-based battery energy storage systems (BESS) manufactured in the United States, today announced that it has received its second loan advance from the Department of Energy’s (DOE) Loan Programs Office in the amount of $22.7 million. With this advance, the Company has fully drawn the maximum allowable amount under the first tranche of $90.9 million in connection with the completion of its first state-of-the-art manufacturing line.

    The loan advance covers 80% of eligible costs, incurred as part of the Company’s production expansion plans related to Project AMAZE. These funds support Eos’ ongoing efforts to expand its operational capacity to meet growing customer demand and further its strategic growth objectives.

    “Production volumes at our first state-of-the-art manufacturing line are growing every week as we progress toward realizing the full 2 GWh capacity on Line 1,” said Nathan Kroeker, Eos Chief Commercial Officer and Interim Chief Financial Officer. “The loan proceeds from the DOE, which follow the recently upsized convertible notes and common stock offerings, continue to strengthen our financial position and position us to scale U.S. production, and advance the build out of our second state of the art manufacturing line.”

    To support 6 GWh in recently signed MOU’s that are expected to convert to purchase orders along with rising demand for “buy American”, “build American” solutions, Eos is scaling to meet the growing needs of AI-driven load growth, data centers, and safety conscious storage markets. Eos’ flexible discharge capability – supporting partial, multiple, and long-duration cycling—is ideally suited to match the complex demands of the largest power users in the world.

    In response, Eos has submitted a purchase order for its second state-of-the-art manufacturing line, marking a key step in expanding U.S. production and delivering safe, reliable long-duration energy storage for its customers.

    The DOE funding builds on Eos successfully closing $336 million in concurrent offerings of common stock and convertible senior notes, which significantly restructured the Company’s balance sheet, lowered its cost of capital, and fueled its ability to grow U.S.-based operations. With this financing, Eos is executing on its long-term strategy: building a robust domestic supply chain, scaling next-generation U.S. battery manufacturing, and creating high-quality American jobs.

    About Eos Energy Enterprises

    Eos Energy Enterprises, Inc. is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. Our breakthrough Znyth™ aqueous zinc battery was designed to overcome the limitations of conventional lithium-ion technology. It is safe, scalable, secure, sustainable, manufactured in the U.S., and the core of our innovative systems that today provides utility, industrial, and commercial customers with a proven, reliable energy storage alternative for 4 to 16+ hour applications. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com.

    Contacts        
    Investors: ir@eose.com
    Media: media@eose.com

    Forward Looking Statements

    Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding our expected revenue, for the fiscal years December 31, 2025, our path to profitability and strategic outlook, statements regarding orders backlog and opportunity pipeline, statements regarding our expectation that we can continue to increase product volume on our state-of-the-art manufacturing line, statements regarding our future expansion and its impact on our ability to scale up operations, statements regarding our expectation that we can continue to strengthen our overall supply chain, statements regarding our expectation that our new comprehensive insurance program will provide increased operational and economic certainty, statements that refer to the delayed draw term loan with Cerberus, milestones thereunder and the anticipated use of proceeds, statements that refer to outlook, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and the information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.

    Factors which may cause actual results to differ materially from current expectations include, but are not limited to: changes adversely affecting the business in which we are engaged; our ability to forecast trends accurately; our ability to generate cash, service indebtedness and incur additional indebtedness; our ability to achieve the operational milestones on the delayed draw term loan; our ability to raise financing in the future; risks associated with the credit agreement with Cerberus, including risks of default, dilution of outstanding Common Stock, consequences for failure to meet milestones and contractual lockup of shares; our customers’ ability to secure project financing; the amount of final tax credits available to our customers or to Eos pursuant to the Inflation Reduction Act; the timing and availability of future funding under the Department of Energy Loan Facility; our ability to continue to develop efficient manufacturing processes to scale and to forecast related costs and efficiencies accurately; fluctuations in our revenue and operating results; competition from existing or new competitors; our ability to convert firm order backlog and pipeline to revenue; risks associated with security breaches in our information technology systems; risks related to legal proceedings or claims; risks associated with evolving energy policies in the United States and other countries and the potential costs of regulatory compliance; risks associated with changes to the U.S. trade environment; our ability to maintain the listing of our shares of common stock on NASDAQ; our ability to grow our business and manage growth profitably, maintain relationships with customers and suppliers and retain our management and key employees; risks related to the adverse changes in general economic conditions, including inflationary pressures and increased interest rates; risk from supply chain disruptions and other impacts of geopolitical conflict; changes in applicable laws or regulations; the possibility that Eos may be adversely affected by other economic, business, and/or competitive factors; other factors beyond our control; risks related to adverse changes in general economic conditions; and other risks and uncertainties.

    The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in the Company’s most recent filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time. Moreover, the Company operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact 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, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    The MIL Network –

  • MIL-OSI: Eos Energy Announces Second Funding Under Its Department of Energy Loan Guarantee to Fuel U.S. Battery Manufacturing Capacity Expansion

    Source: GlobeNewswire (MIL-OSI)

    TURTLE CREEK, Pa., July 01, 2025 (GLOBE NEWSWIRE) — Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos” or the “Company”), an American energy company and the leading innovator in designing, sourcing, manufacturing, and providing zinc-based battery energy storage systems (BESS) manufactured in the United States, today announced that it has received its second loan advance from the Department of Energy’s (DOE) Loan Programs Office in the amount of $22.7 million. With this advance, the Company has fully drawn the maximum allowable amount under the first tranche of $90.9 million in connection with the completion of its first state-of-the-art manufacturing line.

    The loan advance covers 80% of eligible costs, incurred as part of the Company’s production expansion plans related to Project AMAZE. These funds support Eos’ ongoing efforts to expand its operational capacity to meet growing customer demand and further its strategic growth objectives.

    “Production volumes at our first state-of-the-art manufacturing line are growing every week as we progress toward realizing the full 2 GWh capacity on Line 1,” said Nathan Kroeker, Eos Chief Commercial Officer and Interim Chief Financial Officer. “The loan proceeds from the DOE, which follow the recently upsized convertible notes and common stock offerings, continue to strengthen our financial position and position us to scale U.S. production, and advance the build out of our second state of the art manufacturing line.”

    To support 6 GWh in recently signed MOU’s that are expected to convert to purchase orders along with rising demand for “buy American”, “build American” solutions, Eos is scaling to meet the growing needs of AI-driven load growth, data centers, and safety conscious storage markets. Eos’ flexible discharge capability – supporting partial, multiple, and long-duration cycling—is ideally suited to match the complex demands of the largest power users in the world.

    In response, Eos has submitted a purchase order for its second state-of-the-art manufacturing line, marking a key step in expanding U.S. production and delivering safe, reliable long-duration energy storage for its customers.

    The DOE funding builds on Eos successfully closing $336 million in concurrent offerings of common stock and convertible senior notes, which significantly restructured the Company’s balance sheet, lowered its cost of capital, and fueled its ability to grow U.S.-based operations. With this financing, Eos is executing on its long-term strategy: building a robust domestic supply chain, scaling next-generation U.S. battery manufacturing, and creating high-quality American jobs.

    About Eos Energy Enterprises

    Eos Energy Enterprises, Inc. is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. Our breakthrough Znyth™ aqueous zinc battery was designed to overcome the limitations of conventional lithium-ion technology. It is safe, scalable, secure, sustainable, manufactured in the U.S., and the core of our innovative systems that today provides utility, industrial, and commercial customers with a proven, reliable energy storage alternative for 4 to 16+ hour applications. Eos was founded in 2008 and is headquartered in Edison, New Jersey. For more information about Eos (NASDAQ: EOSE), visit eose.com.

    Contacts        
    Investors: ir@eose.com
    Media: media@eose.com

    Forward Looking Statements

    Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding our expected revenue, for the fiscal years December 31, 2025, our path to profitability and strategic outlook, statements regarding orders backlog and opportunity pipeline, statements regarding our expectation that we can continue to increase product volume on our state-of-the-art manufacturing line, statements regarding our future expansion and its impact on our ability to scale up operations, statements regarding our expectation that we can continue to strengthen our overall supply chain, statements regarding our expectation that our new comprehensive insurance program will provide increased operational and economic certainty, statements that refer to the delayed draw term loan with Cerberus, milestones thereunder and the anticipated use of proceeds, statements that refer to outlook, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and the information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.

    Factors which may cause actual results to differ materially from current expectations include, but are not limited to: changes adversely affecting the business in which we are engaged; our ability to forecast trends accurately; our ability to generate cash, service indebtedness and incur additional indebtedness; our ability to achieve the operational milestones on the delayed draw term loan; our ability to raise financing in the future; risks associated with the credit agreement with Cerberus, including risks of default, dilution of outstanding Common Stock, consequences for failure to meet milestones and contractual lockup of shares; our customers’ ability to secure project financing; the amount of final tax credits available to our customers or to Eos pursuant to the Inflation Reduction Act; the timing and availability of future funding under the Department of Energy Loan Facility; our ability to continue to develop efficient manufacturing processes to scale and to forecast related costs and efficiencies accurately; fluctuations in our revenue and operating results; competition from existing or new competitors; our ability to convert firm order backlog and pipeline to revenue; risks associated with security breaches in our information technology systems; risks related to legal proceedings or claims; risks associated with evolving energy policies in the United States and other countries and the potential costs of regulatory compliance; risks associated with changes to the U.S. trade environment; our ability to maintain the listing of our shares of common stock on NASDAQ; our ability to grow our business and manage growth profitably, maintain relationships with customers and suppliers and retain our management and key employees; risks related to the adverse changes in general economic conditions, including inflationary pressures and increased interest rates; risk from supply chain disruptions and other impacts of geopolitical conflict; changes in applicable laws or regulations; the possibility that Eos may be adversely affected by other economic, business, and/or competitive factors; other factors beyond our control; risks related to adverse changes in general economic conditions; and other risks and uncertainties.

    The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in the Company’s most recent filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time. Moreover, the Company operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact 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, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    The MIL Network –

  • MIL-OSI: Robinhood Markets, Inc. to Announce Second Quarter 2025 Results on July 30, 2025

    Source: GlobeNewswire (MIL-OSI)

    MENLO PARK, Calif., July 01, 2025 (GLOBE NEWSWIRE) — Today, Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) announced that it will release its second quarter 2025 financial results on Wednesday, July 30, 2025, after market close. Robinhood will host a video call to discuss its results at 2:00 PM PT / 5:00 PM ET on the same day. The video call and supporting materials will be available at investors.robinhood.com. The event will also be live streamed to YouTube and X.com via Robinhood’s official channels, @RobinhoodApp. Following the call, a replay and transcript will also be available at investors.robinhood.com.

    Ahead of the call, Robinhood shareholders can visit https://app.saytechnologies.com/robinhood-markets-2025-q2 to submit and upvote questions for management using the Q&A platform developed by Say Technologies. The Q&A platform will be open for question submission starting Wednesday, July 23, 2025, at 2:00 PM PT / 5:00 PM ET. Shareholders will be able to submit and upvote questions until Tuesday, July 29, 2025, at 2:00 PM PT / 5:00 PM ET. Management will address a selection of the most upvoted questions relating to Robinhood’s business and financial results on the earnings call. Shareholders can email hello@saytechnologies.com for any support inquiries.

    About Robinhood

    Robinhood Markets, Inc. (NASDAQ: HOOD) transformed financial services by introducing commission-free stock trading and democratizing access to the markets for millions of investors. Today, Robinhood lets you trade stocks, options, futures (which includes options on futures, swaps, and event contracts), and crypto, invest for retirement, and earn with Robinhood Gold. Headquartered in Menlo Park, California, Robinhood puts customers in the driver’s seat, delivering unprecedented value and products intentionally designed for a new generation of investors. Additional information about Robinhood can be found at www.robinhood.com.

    Robinhood uses the “Overview” tab of its Investor Relations website (accessible at investors.robinhood.com/overview) and its Newsroom (accessible at newsroom.aboutrobinhood.com), as means of disclosing information to the public in a broad, non-exclusionary manner for purposes of the SEC Regulation Fair Disclosure (Reg. FD). Investors should routinely monitor those web pages, in addition to Robinhood’s press releases, SEC filings, and public conference calls and webcasts, as information posted on them could be deemed to be material information.

    “Robinhood” and the Robinhood feather logo are registered trademarks of Robinhood Markets, Inc. All other names are trademarks and/or registered trademarks of their respective owners.

    Contacts

    Investor Relations

    ir@robinhood.com

    Media

    press@robinhood.com

    The MIL Network –

  • MIL-OSI: Robinhood Markets, Inc. to Announce Second Quarter 2025 Results on July 30, 2025

    Source: GlobeNewswire (MIL-OSI)

    MENLO PARK, Calif., July 01, 2025 (GLOBE NEWSWIRE) — Today, Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) announced that it will release its second quarter 2025 financial results on Wednesday, July 30, 2025, after market close. Robinhood will host a video call to discuss its results at 2:00 PM PT / 5:00 PM ET on the same day. The video call and supporting materials will be available at investors.robinhood.com. The event will also be live streamed to YouTube and X.com via Robinhood’s official channels, @RobinhoodApp. Following the call, a replay and transcript will also be available at investors.robinhood.com.

    Ahead of the call, Robinhood shareholders can visit https://app.saytechnologies.com/robinhood-markets-2025-q2 to submit and upvote questions for management using the Q&A platform developed by Say Technologies. The Q&A platform will be open for question submission starting Wednesday, July 23, 2025, at 2:00 PM PT / 5:00 PM ET. Shareholders will be able to submit and upvote questions until Tuesday, July 29, 2025, at 2:00 PM PT / 5:00 PM ET. Management will address a selection of the most upvoted questions relating to Robinhood’s business and financial results on the earnings call. Shareholders can email hello@saytechnologies.com for any support inquiries.

    About Robinhood

    Robinhood Markets, Inc. (NASDAQ: HOOD) transformed financial services by introducing commission-free stock trading and democratizing access to the markets for millions of investors. Today, Robinhood lets you trade stocks, options, futures (which includes options on futures, swaps, and event contracts), and crypto, invest for retirement, and earn with Robinhood Gold. Headquartered in Menlo Park, California, Robinhood puts customers in the driver’s seat, delivering unprecedented value and products intentionally designed for a new generation of investors. Additional information about Robinhood can be found at www.robinhood.com.

    Robinhood uses the “Overview” tab of its Investor Relations website (accessible at investors.robinhood.com/overview) and its Newsroom (accessible at newsroom.aboutrobinhood.com), as means of disclosing information to the public in a broad, non-exclusionary manner for purposes of the SEC Regulation Fair Disclosure (Reg. FD). Investors should routinely monitor those web pages, in addition to Robinhood’s press releases, SEC filings, and public conference calls and webcasts, as information posted on them could be deemed to be material information.

    “Robinhood” and the Robinhood feather logo are registered trademarks of Robinhood Markets, Inc. All other names are trademarks and/or registered trademarks of their respective owners.

    Contacts

    Investor Relations

    ir@robinhood.com

    Media

    press@robinhood.com

    The MIL Network –

  • MIL-OSI Africa: Jobs boost as the United Kingdom (UK) and Kenya bolster economic and security partnership


    Download logo

    • Trade and investment deals agreed during the visit will contribute over £1bn to the UK economy and create UK jobs in engineering, defence industries, technical and advisory services, and financial services 
    • The UK and Kenya will also increase collaboration to tackle organised crime, human trafficking and illicit finance through the UK-Kenya Security Compact 
    • The UK and Kenya will commit to a new Strategic Partnership as Kenyan President Ruto visits London

    The UK and Kenya will commit to working together to drive economic growth, protect climate and nature, foster collaboration in science and technology and strengthen regional security. 

    During a visit to the UK by the President of Kenya, a pipeline of trade and investment deals worth over £1bn to the UK economy were agreed which will deliver on this government’s commitment to boost jobs and prosperity back in the UK, as part of the government’s Plan for Change. 

    This includes the launch of a tender for a major urban redevelopment project in Nairobi which has been inspired by the regeneration of London’s Kings Cross.

    The Nairobi Railway City project has already provided opportunities to UK businesses with British architecture firm Atkins UK chosen to design the central rail station and public square.

    The Government of Kenya is exploring funding the project through finance mobilised by the UK’s Export Credit Agency, UK Export Finance, which will create UK jobs in engineering, technical and legal services. 

    Both countries also agreed stronger cooperation to disrupt the air, land and sea routes used by organised crime groups to prevent illegal migrants transiting through Kenya in attempts to reach Libya and other countries before travelling on to Europe. Four of the top ten countries for Small Boat arrivals in the UK are near neighbours of Kenya (Eritrea, Sudan, Somalia and Ethiopia).

    Foreign Secretary, David Lammy, said:

    “Through our shared history and values the UK and Kenya have always had a close connection.”

    “Now we are building a shared future; a modern, innovative and respectful partnership which is delivering real benefits – boosting growth and creating jobs for both Kenyans and the British people. We’re going far, together.”

    The UK and Kenya have also committed to increased defence and counter terrorism collaboration, including joint training and the creation of a new counter insurgency, terrorism and stability operations centre.

    Defence sales worth over £70m were agreed during the visit supporting manufacturing jobs in County Durham, Northamptonshire and Surrey. Kenya hosts the UK’s most significant military footprint in Africa, including a facility that trains 3,000 UK troops a year. 

    The UK’s world leading financial services sector will also benefit; Lloyd’s of London will announce today that they will be joining the Nairobi International Finance Centre, which will deepen the partnership between two leading financial centres providing access to up to £500m of insurance market potential in Kenya and the East Africa region. 

    The two countries also committed to explore the potential of a bilateral digital trade agreement. Dubbed ‘Silicon Savannah’, the value of Kenya’s tech sector is projected to reach £11.5bn by 2032.

    A digital trade agreement will open up opportunities in the sector for UK Plc.

    Distributed by APO Group on behalf of United Kingdom Foreign, Commonwealth and Development Office.

    MIL OSI Africa –

  • MIL-OSI: Lightchain AI Surpasses $21M Raised, Enters Final Bonus Round Ahead of July Mainnet Launch

    Source: GlobeNewswire (MIL-OSI)

    SHREWSBURY, United Kingdom, July 01, 2025 (GLOBE NEWSWIRE) — Lightchain AI, the decentralized AI-native blockchain platform, has officially entered its Final Bonus Round after successfully raising over $21 million during its structured 15-stage presale. With strong participation from early contributors, developers, and validators, this final phase offers a fixed price of $0.007125 per LCAI token—representing the last opportunity to participate ahead of the mainnet launch scheduled for July 2025.

    The milestone reflects Lightchain AI’s steady momentum and increasing recognition within the decentralized AI ecosystem. Designed to bring scalable, intelligent infrastructure to the blockchain space, the platform introduces a purpose-built Artificial Intelligence Virtual Machine (AIVM), a transparent Proof-of-Intelligence consensus mechanism, and comprehensive tools for developer onboarding and participation.

    A Foundation for Intelligent On-Chain Applications

    Lightchain AI is building a decentralized infrastructure tailored for real-world AI applications, focusing on performance, auditability, and accessibility. Its validator-based network rewards useful AI computations, ensuring that both security and utility are central to network operations.

    All original team token allocations (5%) have been reallocated to ecosystem growth, including developer grants, infrastructure expansion, and validator rewards, underlining Lightchain AI’s builder-first philosophy.

    The project has already implemented and tested its staking infrastructure, allowing validators to lock LCAI tokens and simulate long-term network participation, reinforcing both security and decentralization as the protocol moves closer to launch.

    Developer Grant Program and Ecosystem Support

    To further encourage ecosystem development, Lightchain AI has announced a $150,000 Developer Grant Program. This initiative will fund innovative dApps, research, and tooling projects that align with the platform’s vision of autonomous intelligence on-chain.

    Developers now have access to the Lightchain Developer Portal, which includes APIs, SDKs, and documentation, enabling seamless integration and development. Public GitHub repositories are also set to be launched, opening the door to wider community collaboration and transparency.

    Lightchain AI Presale

    Final Bonus Round Now Live

    The Final Bonus Round is currently open and offers a fixed token price of $0.007125, giving new participants an opportunity to join the project’s early-stage supporters. This round will close before the mainnet launch and represents the final window to acquire LCAI tokens at presale pricing.

    “We are incredibly grateful for the trust and support from our growing community,” said a Lightchain AI spokesperson. “With the Final Bonus Round now underway and mainnet launch approaching, we’re excited to welcome more contributors to help build a truly intelligent, decentralized future.”

    Key Upcoming Milestones

    • Mainnet Launch – Scheduled for July 2025
    • Public GitHub Release – Imminent for open-source collaboration
    • Validator Program – Ongoing recruitment and onboarding
    • Developer Grant Distribution – Begins Q3 2025


    Learn More

    To participate in the Final Bonus Round or apply for developer grants, visit:

    Contact:
    SHAJAN SKARIA
    media@lightchain.ai

    Disclaimer: This content is provided by Lightchain AI. The statements, views, and opinions expressed in this content are solely those of the content provider 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. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. 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. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

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    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ef70de1c-6c9d-4c71-b023-f974eb7a0229

    The MIL Network –

  • MIL-OSI USA: Cassidy Stands with President Trump, Passes One Big Beautiful Bill

    US Senate News:

    Source: United States Senator for Louisiana Bill Cassidy
    WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA) today released the following statement after voting to pass President Trump’s One, Big, Beautiful Bill.
    “President Trump and I want to preserve the American Dream for working and middle America,” said Dr. Cassidy. “We keep taxes low, cut taxes on tips, overtime, and Social Security, extend the Child Tax Credit, fix our broken education system, support our military, secure our border, and build a business environment that creates better paying jobs – especially in Louisiana.” 
    As chair of the U.S. Senate Health, Education, Labor, and Pensions (HELP) Committee, Cassidy led the Committee’s portion of the One Big Beautiful Bill, which fixes America’s broken higher education system and addresses the root causes of the student debt crisis.
    Cassidy pushed to secure provisions in this historic legislation that:
    Make higher education more affordable by eliminating inflationary loan programs that have resulted in higher tuition costs.   
    Prevent taxpayer-subsidized loans for degrees that leave students worse off than if they never went to college.  
    Reform the current federal student loan program that transfers debt onto the 87 percent of Americans who chose to not go to college or already paid off their loans.
    Ensure low-income Americans can access higher education by strengthening Pell Grants and addressing the program’s budget shortfall. As it currently stands, the Pell Grant program faces a mounting budget shortfall that threatens its future.  
    Expand education freedom and opportunity for students by providing a charitable donation incentive for individuals and businesses to fund scholarship awards for students to cover expenses related to K-12 public and private education. 
    Increase access to career or technical-based education for low-income students by establishing Workforce Pell Grants. This is crucial to achieving President Trump’s goal of bringing skilled jobs back to America from China and Mexico. 
    Boost U.S. manufacturing and crack down on China and other countries abusing our trade loopholes (de minimis). In 2023, Cassidy introduced similar legislation. 
    Provide beauty industry small businesses with access to the tip credit, which would create jobs.
    Eliminate the $200 tax stamp for short-barreled firearms. 
    Raise the annual cap on offshore energy revenue sharing with Gulf states from $500 million to $650 million through 2034. 
    Require the Bureau of Ocean Energy Management (BOEM) to hold no fewer than two lease sales every year for fifteen years in the Central and Western areas of the Gulf of America—something the Biden administration refused to do. 
    Invest $389 million in America’s Strategic Petroleum Reserve (SPR) to bolster U.S. energy security. 
    Unleash American energy by allowing energy companies to deduct costs, including labor and safety, associated with oil and gas exploration. 
    Expand access to direct primary care arrangements, by allowing the use of Health Savings Account (HSA) dollars to pay for such services. 
    Click here for the HELP section-by-section.
    Click here for the HELP one-pager.

    MIL OSI USA News –

  • MIL-OSI Russia: The World Bank has allocated $173.5 million to Azerbaijan for the development of renewable energy

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    BAKU, July 1 (Xinhua) — The World Bank and the Government of Azerbaijan have signed a $173.5 million loan agreement to support a program to expand the use of renewable energy and strengthen energy infrastructure in Azerbaijan.

    As reported by the AZERTAC news agency, two documents were approved at the signing ceremony on Tuesday – a loan agreement between Azerenergy and the International Bank for Reconstruction and Development (IBRD), part of the World Bank Group, and a guarantee agreement between the Republic of Azerbaijan and the IBRD.

    The four-year program envisages the modernization of the Azerenergy energy system and the safe integration of new wind and solar power plants into the general energy grid. It is planned to build four high-voltage power transmission lines with a voltage of 500 and 330 kV with a total length of 341 km, as well as the purchase of transformers and equipment for the Navahi substation.

    At the signing ceremony, Azerbaijani Finance Minister Sahil Babayev said the agreement reflects the country’s strategic course for the development of sustainable and environmentally friendly energy. According to him, Azerbaijan has significant technical potential in the field of wind, solar and hydropower and aims to become not only a producer but also an exporter of green energy. -0-

    MIL OSI Russia News –

  • MIL-OSI Europe: Multilateral development bank heads and private sector leaders map out deeper cooperation in Seville for development

    Source: European Investment Bank

    EIB

    The European Investment Bank (EIB) Group in partnership with the Financial Alliance for Net Zero convened a high-level exchange with leaders of multilateral development banks (MDBs) and private sector CEOs at the International Conference on Financing for Development in Seville to deepen cooperation and scale private sector investment in emerging markets and developing economies.

    Heads of the African Development Bank, Asian Development Bank, Asian Infrastructure Investment Bank, Council of Europe Development Bank (CEB), European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, Islamic Development Bank and the World Bank Group and leaders of private sector financial and corporate institutions convened for a high-level roundtable to accelerate joint action to mobilise private capital for sustainable development goals. 

    The participants identified opportunities around scaling up successful and existing public-private partnerships and financial instruments, MDBs providing local currency finance and hedging instruments – including through commercial banks – sharing risk statistics through the Global Emerging Markets Risk Database (GEMs), blending instruments, local capacity building and engaging with governments and regulators to create the right conditions for private investment to thrive.

    The roundtable in Seville followed the Heads of MDBs meeting, hosted by the CEB on Saturday in Paris, where in a Joint Statement the participants highlighted private capital mobilisation as a system-wide priority, in line with the Viewpoint Note from Washington in April 2024.

    MIL OSI Europe News –