Category: Finance

MIL-OSI: Bilibili Inc. Announces Proposed Offering of Class Z Ordinary Shares in Connection with Hedging Transactions of Certain Convertible Notes Investors and Concurrent Repurchase

Source: GlobeNewswire (MIL-OSI)

SHANGHAI, May 21, 2025 (GLOBE NEWSWIRE) — Bilibili Inc. (“Bilibili” or the “Company”) (Nasdaq: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced a separate SEC-registered underwritten offering of its Class Z ordinary shares, par value US$0.0001 per share (the “Concurrent Delta Offering”).

Concurrently with such offering, the Company announced the proposed offering (the “Notes Offering”) of US$500 million in aggregate principal amount of convertible senior notes due 2030 (the “Notes”) pursuant to Rule 144A under the Securities Act of 1933, as amended. The proposed Notes Offering is subject to market conditions and other factors. The Company intends to grant the initial purchasers in the Notes Offering a 30-day option to purchase up to an additional US$75 million in principal amount of the Notes. The Company plans to use the net proceeds from the Notes Offering to enhance its content ecosystem to facilitate user growth, facilitate IP asset creation, and unleash its inherent potential. The Company also plans to use the net proceeds from the Notes Offering to improve its overall monetization efficiency, fund the Concurrent Repurchase (as defined below), fund future repurchases (from time to time) under its share repurchase program, and for other general corporate purposes.

In connection with the offering of the Notes, the Company announced the Concurrent Delta Offering, under which certain number of the Company’s Class Z ordinary shares are proposed to be borrowed from third parties and offered in a separate underwritten offering by Goldman Sachs (Asia) L.L.C. and Morgan Stanley Asia Limited (the “Underwriters”), each acting severally on behalf of itself and/or its respective affiliates. The Underwriters will use the resulting short position to facilitate hedging transactions by certain investors subscribing for the Notes, who employ a convertible arbitrage strategy (the “Convertible Arbitrage Investors”). The Company has been advised that each Underwriter is concurrently entering into privately negotiated derivative transactions relating to the Class Z ordinary shares, enabling Convertible Arbitrage Investors to establish their initial short positions in the Class Z ordinary shares to hedge market risk in the Notes. The number of Class Z ordinary shares subject to the Concurrent Delta Offering will be determined at the time of pricing of the Concurrent Delta Offering, and is expected to generally correspond to such initial short positions of the Convertible Arbitrage Investors. No new Class Z ordinary shares will be issued in the Concurrent Delta Offering. The Company will not receive any proceeds from the Concurrent Delta Offering. The Notes Offering and the Concurrent Delta Offering are contingent upon each other.

In addition, the Company intends to purchase a number of its Class Z ordinary shares offered in the Concurrent Delta Offering for an amount expected to be up to US$100 million at the offering price (the “Concurrent Repurchase”) pursuant to its existing share repurchase program.

The Company will use part of the proceeds from the Notes Offering for the Concurrent Repurchase. The Concurrent Repurchase enables investors to establish some of their initial short positions in the Class Z ordinary shares to hedge market risk in the Notes and reflects the Company’s confidence in its long-term strategy and growth. The repurchased shares will be cancelled.

The Company has filed an automatic shelf registration statement on Form F-3 (including a prospectus) with the SEC. The Concurrent Delta Offering will be made only by means of a prospectus supplement and an accompanying prospectus. Before you invest, you should read the prospectus supplement and the accompanying prospectus and other documents that the Company has filed with the SEC for more complete information about the Company and the Concurrent Delta Offering. You may obtain these documents by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, a copy of the prospectus supplement and the accompanying prospectus may be obtained from Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, Attention: Prospectus Department, Email: Prospectus-ny@ny.email@gs.com, Telephone: 1 (866) 471-2526; or Morgan Stanley Asia Limited, c/o Morgan Stanley & Co. LLC, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department, Email: prospectus@morganstanley.com, Telephone: 1 (866) 718-1649.

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

This press release contains information about the pending Concurrent Delta Offering and Concurrent Repurchase, and there can be no assurance that the Concurrent Delta Offering and Concurrent Repurchase will be completed.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue,” or other similar expressions. Among other things, the terms of the Notes, whether the Company will complete the Notes Offering, whether the Concurrent Delta Offering and/or Concurrent Repurchase will be completed, a description of various hedging activities, and statements about Bilibili’s beliefs and expectations, contain forward-looking statements. Bilibili may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Bilibili’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: results of operations, financial condition, and stock price; Bilibili’s strategies; Bilibili’s future business development, financial condition and results of operations; Bilibili’s ability to retain and increase the number of users, members and advertising customers, provide quality content, products and services, and expand its product and service offerings; competition in the online entertainment industry; Bilibili’s ability to maintain its culture and brand image within its addressable user communities; Bilibili’s ability to manage its costs and expenses; PRC governmental policies and regulations relating to the online entertainment industry, general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission and the Hong Kong Stock Exchange. All information provided in this announcement and in the attachments is as of the date of the announcement, and the Company undertakes no duty to update such information, except as required under applicable law.

About Bilibili Inc.

Bilibili is an iconic brand and a leading video community with a mission to enrich the everyday lives of young generations in China. Bilibili offers a wide array of video-based content with All the Videos You Like as its value proposition. Bilibili builds its community around aspiring users, high-quality content, talented content creators and the strong emotional bonds among them. Bilibili pioneered the “bullet chatting” feature, a live comment function that has transformed our users’ viewing experience by displaying the thoughts and feelings of audience members viewing the same video. The Company has now become the welcoming home of diverse interests among young generations in China and the frontier for promoting Chinese culture across the world.

For more information, please visit: http:/ir.bilibili.com.

For investor and media inquiries, please contact:

In China:

Bilibili Inc.
Juliet Yang
Tel: -86-21-2509-9255 Ext. 8523
Email: ir@bilibili.com

Piacente Financial Communications
Helen Wu
Tel: -86-10-6508-0677
Email: bilibili@tpg-ir.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: -1-212-481-2050
Email: bilibili@tpg-ir.com

The MIL Network –

May 21, 2025
MIL-OSI Asia-Pac: LCQ6: Supporting freight and logistics sector

Source: Hong Kong Government special administrative region

Following is a question by the Hon Frankie Yick and a reply by the Secretary for Transport and Logistics, Ms Mable Chan, in the Legislative Council today (May 21):

Question:

There are views pointing out that although the United States (“US”) has seen its ranking as Hong Kong’s major important trading partner decline in recent years, the imposition of high tariffs on Hong Kong goods and the elimination of the duty-free de minimis treatment for small parcels continue to have a significant impact on Hong Kong’s freight and logistics sector. Members of the sector have predicted that the US tariff trade war against China will lead to a sustained decline in Hong Kong’s freight volumes and could trigger an immediate supply chain disruption crisis, and the measures taken under the five major strategies as indicated earlier on by the Secretary of Transport and Logistics will be difficult to see results in the short term. In this connection, will the Government inform this Council:

(1) whether it has assessed the specific impact of the tariff trade wars launched by US to date on Hong Kong’s freight and logistics sector (including sea, land, and air transport);

(2) in order to make up for the shortfall resulting from the loss of the US market and to consolidate Hong Kong’s position as a regional logistics hub, of the short-term measures taken by the authorities to assist the logistics sector in accelerating the development of new markets; and

(3) in response to cash flow problems faced by logistics companies due to shipment delays or cancellations caused by the tariff trade wars, of the support measures put in place by the Government, such as the consideration of providing low-interest loans to these companies to address their immediate needs?

Reply:

President,

Hong Kong has long supported and upheld the multilateral trading system. The imposition of tariffs and other trade protectionist measures by certain countries not only disregards Hong Kong’s status as a free port with zero tariffs, but also damages the global multilateral trading system. Such measures disrupt global supply chains, harming all parties involved including the implementing countries themselves.

As previously announced by the Chief Executive, in response to the relevant developments, the Government will strengthen its strategy in seven areas, including to fully seize the opportunities in our country, China’s development, and actively integrate into the national development; to strengthen international exchanges and deepen regional ties and co-operation; to accelerate industrial transformation; to intensify efforts to develop technological innovation; to vigorously advance international financial co-operation; to proactively attract foreign companies and capital to establish in Hong Kong; and to provide various support to help Hong Kong enterprises.

Having consulted the Commerce and Economic Development Bureau and the Hong Kong Monetary Authority (HKMA), our reply to the Hon Frankie Yick’s question is as follows:

(1) Hong Kong recorded a 3.2 per cent year-on-year increase in air cargo volume in thefirst quarter of 2024, reaching 1.16 million tonnes. Container throughput of our port also grew by 2.7 per cent year-on-year to approximately 3.4 million twenty-foot equivalent units. The observed growth in cargo volumes is believed to be attributable to shippers’ urgency to ship goods ahead of the anticipated implementation of reciprocal tariffs. Recently, our country and the United States (US) have reached a provisional agreement to reduce bilateral tariffs for 90 days. It is expected that shippers will maximise shipments during this window. However, it is expected such volume growth is unlikely to be sustained. In fact, the negative impact of the reckless imposition of tariffs by the US on global trade will be far-reaching. The overall global trade volume is expected to fall, and the logistics industry will inevitably be affected.

(2) In light of the new international trade environment, we must make preparations to avoid and mitigate risks while seizing new opportunities arising from the changing landscape. To this end, the Transport and Logistics Bureau will closely monitor developments, maintain proactive engagement with the trade, and lead Hong Kong’s logistics sector to cope with challenges by adopting five major strategies.

Firstly, we will explore emerging markets including the Middle East and the Association of South East Asian Nations (ASEAN), while continuing our collaboration with the Hong Kong Logistics Development Council (LOGSCOUNCIL) to promote Hong Kong’s logistics advantages by conducting promotional visits to and exploring other markets along the “Belt and Road”. Secondly, we will strengthen collaboration with ports located in the Guangdong-Hong Kong-Macao Greater Bay Area, and establish a comprehensive “rail-sea-land-river” intermodal transport system, thereby developing new cargo sources. Thirdly, we are actively studying the exemption of the import and export licence requirements for certain products to attract more transhipment cargoes. Fourthly, we will deepen international port and shipping co-operation by pursuing digitalisation and green and smart transformation of our port to enhance Hong Kong’s port competitiveness. Fifthly, we will further expand Hong Kong’s maritime and aviation networks to diversify our markets and reduce reliance on the US market.

(3) The HKSAR Government has been assisting small and medium enterprises (SMEs) in addressing challenges and maintaining competiveness amid a complicated and ever-changing economic environment through various funding schemes and support measures. As regards alleviating cash flow pressure, the Government has kept on enhancing the SME Financing Guarantee Scheme (SFGS) so as to meet the financing needs of SMEs during the economic downturn. Borrowing enterprises under the SFGS (including enterprises in the logistics sector) are now allowed to apply for principal moratorium arrangement for up to 12 months (the application period will last until November 17, 2025), and the maximum loan guarantee periods of the 80% and 90% Guarantee Products be extended to ten years and eight years respectively. At the same time, the partial principal repayment options will be offered to new loans so as to provide more repayment flexibility.

The HKMA, together with the banking sector, introduced in April 2025 additional support measures to further assist SMEs in obtaining bank financing and in their upgrade and transformation. In addition, all the 18 participating banks in the Taskforce on SME Lending have reaffirmed their commitment to actively implementing the “9+5” SME support measures launched by the HKMA and the banking sector in 2024. Referencing the principles under the Pre-approved Principal Payment Holiday Scheme, the banking sector will continue offering flexible repayment arrangements and deferment of repayment period. The total amount of dedicated funds for SMEs set aside by these banks in their loan portfolio has increased from $370 billion in October 2024 to more than $390 billion at present.

As regards export credit insurance, further to the 2024 Policy Address initiative on increasing the maximum indemnity percentage of the Hong Kong Export Credit Insurance Corporation (ECIC) to 95 per cent, ECIC already launched three more support measures on April 10, 2025, including extending the free pre-shipment cover for holders of the Small Business Policy (SBP); offering a 50 per cent discount on pre-shipment risks to cover premiums for non-SBP holders; and aligning the premium rates for new markets with those for traditional markets to assist exporters in tapping into the new markets. ECIC will also provide 20 additional free credit assessment service on the buyers in the Mainland, ASEAN and Middle East, collaborate with various financial institutions to provide financing support for e-commerce, and providing credit insurance for export services relating to multinational supply chain to support Hong Kong export trade.

Thank you, President.

MIL OSI Asia Pacific News –

May 21, 2025
MIL-OSI: BAYC#7537 AI computing satellite was successfully launched! Web3 interstellar computing era officially started

Source: GlobeNewswire (MIL-OSI)

LONDON, May 21, 2025 (GLOBE NEWSWIRE) — On May 14, 2025, 12:12 p.m. (Beijing Time), Adaspace successfully launched 12 satellites of the Space Computing Constellation 021 Mission from Jiuquan Satellite Launch Center through the Long March 2D launch vehicle. The successful entry of the satellites into the intended orbit marks the successful launch of the world’s first space computing constellation, which will open a new chapter of the global “space computing era”. Space Computing Constellation 021 Mission is not only the first constellation of “Star-Compute” program initiated by Adaspace, but also the first constellation of “Three-Body Computing Constellation” of Zhejiang Lab. The constellation consists of 12 computing satellites in one orbit invested by different entities and developed by Adaspace. The launch and orbiting of BAYC#7537 computing satellite marks Web3’s transformation from the virtual economy to the space computing network.

According to the introduction, the “protagonist” of this launch consists of 12 computing satellites in one orbit invested by different entities and developed by Adaspace, including Neijiang (Star Era-27), Neijiang High-Tech (Star Era-28), Taizhou (Star Era-29), Haikou (Star Era-30), Ma’anshan Intelligent Computing-1 (Star Era-31), Chongzhou (Star Era-32), Tiantie Technology (Star Era-33), BAYC #7573 (Star Era-34), Yukongzhe (Star Era-35), “Grand Neobay”(Star Era-36), Zhejiang-1 (Star Era-37) and Zhejiang-2 (Star Era-38). After the assembly of 12 satellites in one orbit, the on-orbit verification and application of the basic functions of space-based computing, such as chain building, networking and cloud formation, will be finished through interstellar laser high-speed interconnection, stable constellation networking and distributed computing management.

What is a computing constellation? In the past, satellites were only used for communication, navigation and remote sensing. Computing satellites are defined as the fourth type of satellites, which will become the basis of the first three satellites, and then form a new network system called computing constellation through the interconnection of satellites.

According to Wang Jian, academician of Chinese Academy of Engineering and director of Zhejiang Lab, the constellation can raise the computing power of a single satellite from level T to level P and realize interconnection between satellites like the Internet connects different computers together. “The construction of space computing constellation enables the single satellite to be of greater value and has far-reaching implications for the transformation of the aerospace industry.”

“The primary mission of this launch is to realize the transformation from ‘computing on Earth’ to ‘computing in space’ for specific scenarios to meet the growing demand for space-based instant computing and to help China take the lead in building a space computing infrastructure in the world.” The relevant official of Adaspace said. In short, support computing power with space power.

As a representative sign in the series, the holder of BAYC #7573 has repeatedly promoted the innovative application of AI. Naming the satellite after BAYC #7573 AI not only recognizes its cultural value, but also symbolizes the Web3 community’s deep involvement in cutting-edge technology. Both AI computing and Web3 have empowered the future.

Media Contact:

Organization: BAYC

Contact Person: David

Website: bayc.io

Email: bd@bayc.io

Disclaimer: This press release is provided by BAYC. 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. 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. 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. Speculate only with funds that you can afford to lose. 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.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/5a3dabf0-7692-42c8-b37f-13134f2f0cda

https://www.globenewswire.com/NewsRoom/AttachmentNg/5fc50272-48c8-4c99-b2d1-e6d527a23044

https://www.globenewswire.com/NewsRoom/AttachmentNg/90af1890-a355-49c4-b802-e354defca0a8

https://www.globenewswire.com/NewsRoom/AttachmentNg/cb9bb469-89e7-4853-a89a-6095c17f8c0c

The MIL Network –

May 21, 2025
MIL-OSI Russia: How the Investment Packaging program helps entrepreneurs

Translation. Region: Russian Federal

Source: Moscow Government – Government of Moscow –

Since its launch, the Investment Packaging program has been used by over 1,100 business representatives. 285 companies have undergone practical training and developed materials to attract investors, and 171 startups took part in 31 final pitch sessions to present the project, organized by the Moscow Innovation Cluster.

“Investment Packaging” is a training program for aspiring entrepreneurs on creating an investment presentation and a financial model for a startup, which has been operating in Moscow since 2021. It consists of two modules. Participants are given the opportunity to develop materials for presentation to an investor and attract funding, as well as prepare for a pitch session before it.

You can apply for the program at any time on the platform I. Moskov. The theoretical module is available to individual entrepreneurs, individuals and legal entities from all over the country. The practical module is only for participants of the Moscow Innovation Cluster.

“Investment packaging is an ongoing program. And during its operation, we have developed a profile of companies wishing to present their project to investors. These are mainly developers of software for business, medical technologies, consumer goods and services, educational and industrial technologies. According to surveys, the average request for investment from companies is 10 million rubles. Most often, last year, program participants were companies aged four years and with a median revenue of nine million rubles,” said

Kristina Kostroma, Head of the Department of Entrepreneurship and Innovative Development of the City of Moscow.

Thus, the program involved a company that produces M1 and M2 monoblocks for automation of checkout areas and self-service areas. The terminals are based on the latest technologies and help speed up the trading process, reduce queues and increase the convenience of shopping. M1 and M2 were developed in Russia specifically for retail and catering outlets with a high customer flow. The Investment Packaging program helped the company update its knowledge, develop an investment presentation and update product prices. Thanks to the Moscow Innovation Cluster, the manufacturer met one of the chain stores with which it is now negotiating the supply of monoblocks for checkouts.

A business management software developer also completed the program. The system includes business and project management solutions, document search, task analysis, and process optimization based on artificial intelligence. Thanks to the knowledge gained, the company was able to better understand how to effectively present its project and attract the attention of potential investors.

Training courses and technology competitions: what non-financial support measures are popular with businesses in Moscow More than a thousand Russian enterprises have been included in the register of startups and high-tech companies in Moscow

Moscow Innovation Cluster promotes the creation of conditions for the implementation of priority areas of scientific and technical development in the capital: the development and implementation of innovative technologies, ensuring scientific, technical and industrial cooperation, effective interaction of all participants in the Moscow innovation ecosystem. The cluster includes more than 40 thousand organizations from Moscow and 86 regions of Russia. More than 50 services are available to developers and high-tech businesses. The project is supervised by the capital Department of Entrepreneurship and Innovative Development.

Demand for the Moscow Innovation Cluster’s online platform has grown 2.5 times in a year Sobyanin: Developments by Moscow InnoCluster participants simplify people’s work

Get the latest news quicklyofficial telegram channel the city of Moscow.

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

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

https: //vv.mos.ru/nevs/ite/154032073/

MIL OSI Russia News –

May 21, 2025
MIL-OSI: Jeito Capital Leads a USD 65 million Financing in ReproNovo to Develop Transformational Treatments in Reproductive Medicine and Women’s Health
Source: GlobeNewswire (MIL-OSI)

Jeito Capital Leads a USD 65 million Financing in ReproNovo to Develop Transformational Treatments in Reproductive Medicine and Women’s Health
- Proceeds from the financing will advance ReproNovo’s lead candidates RPN-001 (leflutrozole) and RPN-002 (nolasiban), through Phase 2 clinical trials in male infertility and in the treatment of adenomyosis and embryo implantation, respectively
- In the context of increasing infertility across the world, this investment reflects Jeito’s interest in highly promising clinical-stage biopharma companies developing breakthrough innovations with strong value-creation potential for patients and society
Paris, France, May 21, 2025 – Jeito Capital (“Jeito”), a global leading independent Private Equity fund dedicated to biopharma, announced today it is leading a USD 65 million (EUR 57 million¹) Series A financing round in ReproNovo, a company dedicated to developing innovative treatments for reproductive medicine and women’s health.

AXA IM Alts and M Ventures co-led the financing round alongside a syndicate of healthcare funds: Ysios Capital and ALSA Ventures.

Ksenija Pavletic, Jeito Partner and Chief Commercial Officer with 25 years of experience in reproductive medicine and women’s health, will join ReproNovo’s Board of Directors.

Founded in 2021, ReproNovo is developing novel approaches to address critical gaps in reproductive medicine and women’s health, including male and female infertility as well as uterine health. The company, led by a team of experts in this space – Jean Marie Duvall, Chief Executive Officer, Joan-Carles Arce, MD, PhD, Chief Scientific Officer and Medical Officer, and BingMei Hao, Chief Financial Officer – brings a proven track record in successful clinical development and commercial launches.

Since its inception, ReproNovo has rapidly built a pipeline comprising two Phase 2 clinical-stage assets across three disease areas, and the company plans to use the proceeds from this financing to advance this pipeline across multiple programs:
- With its lead candidate, RPN-001 (leflutrozole), the company will focus on the development of an oral therapy for male infertility due to low testosterone levels. Low testosterone is becoming more prevalent, including in younger men, highlighting the urgent need for an efficacious treatment option. This trend coincides with a broader decline in male reproductive health, now recognized as a major public health problem².
- RPN-002 (nolasiban), also orally administered therapy, is a first-in-class compound to manage adenomyosis, an overgrowth of endometrial tissue into the uterus that can result in severe menstrual bleeding and pain. Similar to endometriosis, this is a common gynecological condition, with recent imaging studies identifying features of adenomyosis in nearly one in four women undergoing gynecological evaluation³.
RPN-002 will also be explored for improving success rates in assisted reproductive technologies (ART).

The global decline in fertility rates, coupled with the rising incidence of male infertility (sperm counts have fallen by 50% to 60% over the last four decades⁴) and the significant health risks women endure during fertility treatments underscore the urgent and underserved need for innovative reproductive solutions that address both genders and these global challenges comprehensively.

Through this investment, Jeito reaffirms its commitment to highly promising companies with transformational science that has the potential to deliver strong value for patients and society. By tackling male infertility and women’s health at a global scale, ReproNovo is addressing not only a significant patients’ concern but also a major societal issue.

Dr. Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, said:
“ReproNovo combines strong innovative potential, a seasoned team, and a clear ambition to address one of the most pressing global challenges of our time: declining birth rates. At Jeito, we are committed to advancing breakthrough innovations with significant value for both patients and society. This investment reflects that commitment. We are proud to support the acceleration of ReproNovo’s clinical development and help unlock its potential to become a future market leader.”

Ksenija Pavletic, Partner and Chief Commercial Officer at Jeito Capital, added:
“As approximately one in six people worldwide will face infertility issues, we are proud to support ReproNovo, whose commitment to advancing novel therapies in reproductive health aligns well with our focus on accelerating cutting-edge technologies and the commercialization of treatments with transformative benefits for patients. We are highly impressed by the ReproNovo team, whose members have a strong track record in this field, having brought a number of compounds successfully through clinical development and onto the market. Their deep understanding of the field will enable them to effectively address critical unmet needs that have a strong impact on society.”

Jean Marie Duvall, Co-founder and CEO of ReproNovo, concluded:
“We are focused on innovative therapeutic solutions for male and female infertility and pioneering management options for conditions like adenomyosis. Our aim is to address critical gaps in the landscape of infertility and women’s health worldwide. We are thrilled to announce the successful closing of our $65 million Series A funding round with this strong, sector specialized group of investors, marking a significant milestone in our journey to becoming a leading reproductive medicine and women’s health company.”

About Jeito Capital
Jeito Capital is a global leading Private Equity fund with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access globally, especially in Europe and the United States. Jeito has built a diversified portfolio of clinical biopharmas with cutting-edge innovations addressing high unmet needs. Jeito Capital is based in Paris with a presence in Europe and the United States.
For more information, please visit www.jeito.life or follow us on LinkedIn.

About ReproNovo

ReproNovo is a cutting-edge biopharmaceutical company identifying and developing innovative solutions to address critical gaps in reproductive medicine and women’s health. Our team is composed of proven experts with deep experience in reproductive medicine, drug development, regulatory affairs and business development who have throughout their careers successfully brought multiple therapies to market. Lead clinical compound, RPN-001 (leflutrozole), is initially being developed to treat male infertility. RPN-002 (nolasiban) is a first-in-disease and first-in-class molecular entity to manage adenomyosis and increase the probability of embryo implantation in women undergoing assisted reproductive technology (ART) treatments. Both assets are Phase 2 ready. ReproNovo is financed by Jeito Capital, AXA IM Alts, founding investor M Ventures, Ysios Capital and ALSA Ventures. Headquartered in Lausanne, Switzerland, the company has its primary development team in Copenhagen, Denmark, and an additional development site in Barcelona, Spain. For more information, visit the Company’s website at www.repronovo.com.

Contacts:

Jeito Capital
Rafaèle Tordjman, Founder & CEO
Jessica Fadel, EA
Tel: +33 6 33 44 25 47

Maior                                                ICR Healthcare
Stéphanie Elbaz                                Mary-Jane Elliott / Davide Salvi / Kris Lam
Tel: +33 6 46 05 08 07                        Jeito@icrhealthcare.com
Tel: +44 (0) 20 3709 5700

                                                Sean Leous
                                                sean.leous@icrhealthcare.com
Tel: +1 (646) 866 4012

¹EUR/USD exchange rate: 1 EUR = 1.1343 USD date May 5, 2025 (source: Banque de France)
²Temporal trends in sperm count: a systematic review and meta-regression analysis of samples collected globally in the 20th and 21st centuries. Human Reproduction Update. 2022; https://doi.org/10.1093/humupd/dmac035
³Alson S, et al. Prevalence of adenomyosis features in women scheduled for assisted reproductive treatment, using the Morphological Uterus Sonographic Assessment (MUSA) group definitions. Acta Obstet Gynecol Scand. 2024;103:1142–1152.
⁴ Fortune “The global ‘spermpocalypse’ proves infertility is no longer just a women’s problem, says male fertility CEO” (May 2024)
The MIL Network –
May 21, 2025

MIL-OSI: Wix Reports First Quarter 2025 Results

Source: GlobeNewswire (MIL-OSI)

Strong start to year with Q1’25 total bookings of $511 million, up 12% y/y, with very robust top of funnel demand in the quarter and new cohort strength continuing through April and early May
Q1’25 total revenue of $474 million exceeded expectations, up 13% y/y, driven by accelerating Self Creators growth accompanied by solid Partners momentum as Studio adoption continued to ramp healthily
Launched Wixel, a new standalone AI-powered visual design platform that brings the most advanced creative tools into a single intuitive interface and puts complete visual editing control into the hands of everyone – marking Wix’s milestone foray into creation beyond websites
Achieved FCF margin of 30% in Q1’25 as we continued to maintain a resilient operating cost structure amidst robust top-line performance
Increased share repurchase board authorization to a total of $400 million under current program

NEW YORK — Wix.com Ltd. (Nasdaq: WIX) (the “Company”), the leading SaaS website builder platform¹, today reported financial results for the first quarter of 2025. In addition, the Company provided its outlook for the second quarter and an updated outlook for full year 2025. Please visit the Wix Investor Relations website at https://investors.wix.com to view the Q1’25 Shareholder Update and other materials.

“This year we are setting out to reimagine and expand the online creation experience and have set the bar high with the milestone release of Wixel, which I believe will democratize digital creation,” said Avishai Abrahami, Wix Co-founder and CEO. “We have been transforming web development since 2006 and are now organically extending our user-first design expertise, AI leadership and focus on accessibility to beyond websites. What you see today is the first version of our standalone next-gen visual design platform, representing the culmination of years of development in advanced design and AI and unifying the best models, intuitive UI, and powerful high-end features into one cohesive platform. Importantly, with Wixel, anyone, regardless of skill level, can now create beautiful visuals with just a few clicks. We have an ambitious roadmap for Wixel ahead and I’m excited to see how Wixel starts to reshape the design world.”

Lior Shemesh, CFO at Wix, added, “Our strong first quarter results demonstrate the critical value of the Wix platform to anyone and everyone requiring an online presence globally amid an ever evolving macro environment, particularly SMBs. Top of funnel demand was very strong with Q1’25 new user cohort bookings finishing 12% higher than the bookings generated by the Q1’24 cohort in its first quarter. This acceleration in new cohort growth was almost entirely driven by better fundamentals, particularly an increased number of users, as well as product innovation. Encouragingly, these strong cohort trends have continued through April and early May, bolstering confidence in 2H bookings and revenue growth acceleration as additional cohorts layer on through the year. As a result of this new cohort strength and healthy existing user behavior, bookings grew a solid 12% y/y and revenue growth of 13% y/y finished above expectations in Q1. Durability was broad based across our segments with our Partners business delivering 24% y/y revenue growth, fueled by ongoing market share gains driven by Studio, as well as another consecutive quarter of Self Creators growth acceleration as AI continued to remove friction for more users in the website creation journey.”

Q1 2025 Financial Results

Total revenue in the first quarter of 2025 was $473.7 million, up 13% y/y
Creative Subscriptions revenue in the first quarter of 2025 was $337.7 million, up 11% y/y
- Creative Subscriptions ARR increased to $1.373 billion as of the end of the quarter, up 10% y/y
Business Solutions revenue in the first quarter of 2025 was $136.0 million, up 18% y/y
- Transaction revenue² was $58.9 million, up 19% y/y
Partners revenue³ in the first quarter of 2025 was $171.6 million, up 24% y/y
Total bookings in the first quarter of 2025 were $510.9 million, up 12% y/y
- Creative Subscriptions bookings in the first quarter of 2025 were $369.5 million, up 10% y/y
- Business Solutions bookings in the first quarter of 2025 were $141.4 million, up 15% y/y
Total gross margin on a GAAP basis in the first quarter of 2025 was 68%
- Creative Subscriptions gross margin on a GAAP basis was 83%
- Business Solutions gross margin on a GAAP basis was 30%
Total non-GAAP gross margin in the first quarter of 2025 was 69%
- Creative Subscriptions gross margin on a non-GAAP basis was 84%
- Business Solutions gross margin on a non-GAAP basis was 31%
GAAP net income in the first quarter of 2025 was $33.8 million, or $0.61 per basic share and $0.57 per diluted share
Non-GAAP net income in the first quarter of 2025 was $93.9 million, or $1.69 per basic share and $1.55 per diluted share
Net cash provided by operating activities for the first quarter of 2025 was $145.5 million, while capital expenditures totaled $3.1 million, leading to free cash flow of $142.4 million
In January, we completed $200 million of share repurchases, repurchasing 868,026 Wix ordinary shares in total at an approximate volume-weighted average price per share of $230.41
Total employee count at the end of Q1’25 was 5,275

Increase to Share Repurchase Program

Wix’s Board of Directors has authorized an increase to its program to repurchase the Company’s securities (ordinary shares and/or convertible notes) by an additional amount of up to $200 million, on top of the $200 million previously approved by the Board on February 26th, 2025 (which has not been used to date). This approval brings the repurchase authorization under the program to a total amount of up to $400 million.

____________________
^{1 Based on number of active live sites as reported by competitors’ figures, independent third-party data and internal data as of Q3 2024.}
^{2 Transaction revenue is a portion of Business Solutions revenue, and we define transaction revenue as all revenue generated through transaction facilitation, primarily from Wix Payments, as well as Wix POS, shipping solutions and multi-channel commerce and gift card solutions.}
^{3 Partners revenue is defined as revenue generated through agencies and freelancers that build sites or applications for other users (“Agencies”) as well as revenue generated through B2B partnerships, such as LegalZoom or Vistaprint (“Resellers”). We identify Agencies using multiple criteria, including but not limited to, the number of sites built, participation in the Wix Partner Program and/or the Wix Marketplace or Wix products used (incl. Wix Studio). Partners revenue includes revenue from both the Creative Subscriptions and Business Solutions businesses.}

Financial Outlook

Healthy first quarter results demonstrate impactful product innovation and disciplined execution of our key growth initiatives, including Studio, AI and our focus empowering Self Creators. Notably, new cohort strength remains robust through April and early May against a dynamic macro backdrop. We expect new cohort strength to continue and drive top-line growth acceleration in 2H as additional cohorts layer on throughout the year.

While we are encouraged by our strong Q1 results and robust top of funnel, we are maintaining full year bookings outlook of $2,025 – 2,060 million, up 11-13% y/y. This reflects conservatism due to macro uncertainty, specifically in our Business Solutions segment, with potential volatility offset by fully dissipating FX headwinds.

With these same considerations, we are also maintaining our full year revenue outlook of $1,970 – 2,000 million, up 12-14% y/y.

We expect total revenue in Q2 2025 to be $485 – 489 million, up 11-12% y/y.

For the full year 2025, we continue to expect non-GAAP total gross margin of ~70% and non-GAAP operating expenses to be 47-48% of revenue for the full year.

We continue to expect to generate free cash flow of $590 – 610 million, or ~30-31% of revenue.

As a result, we remain on track to achieve Rule of 45 in 2025 at the high end of our outlook.

Conference Call and Webcast Information

Wix will host a conference call to discuss the results at 8:30 a.m. ET on Wednesday, May 21st, 2025. A live and archived webcast of the conference call will be accessible from the “Investor Relations” section of the Company’s website at https://investors.wix.com/.

About Wix.com Ltd.

Wix is the leading SaaS website builder platform¹ to create, manage and grow a digital presence. Founded in 2006, Wix is a comprehensive platform providing users – self-creators, agencies, enterprises, and more – with industry-leading performance, security, AI capabilities and a reliable infrastructure. Offering a wide range of commerce and business solutions, advanced SEO and marketing tools, the platform enables users to take full ownership of their brand, their data and their relationships with their customers. With a focus on continuous innovation and delivery of new features and products, users can seamlessly build a powerful and high-end digital presence for themselves or their clients.

For more about Wix, please visit our Press Room
Media Relations Contact: PR@wix.com

Share Repurchase Program

Under the Board authorized repurchase program, Company securities may be repurchased from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or otherwise, all in accordance with U.S. securities laws and regulations, including Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company may also, from time to time, enter into plans that are compliant with Rule 10b5-1 of the Exchange Act to facilitate repurchases of its securities under this Board authorization. The repurchase program does not obligate the Company to acquire any particular amount of securities, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion. Repurchases under the repurchase program may begin after conclusion of the 30-day period for creditors of the Company to object to the Company’s intent to perform the distribution by way of repurchase in accordance with the Israeli Companies Regulations (Relief for Public Companies Whose Securities are Traded on Stock Exchanges Outside of Israel), 5760-2000 and the Israeli Regulations (Approval of Distribution), 5761–2001. The actual timing, number and value of securities repurchased depend on a number of factors, including the market price of the Company’s ordinary shares, general market and economic conditions, any objections received by the Company from its creditors, the Company’s financial results and liquidity, and other considerations. The Company expects to fund repurchases with cash on hand and future cash generated from its operations.

Non-GAAP Financial Measures and Key Operating Metrics

To supplement its consolidated financial statements, which are prepared and presented in accordance with U.S. GAAP, Wix uses the following non-GAAP financial measures: bookings, cumulative cohort bookings, bookings on a constant currency basis, revenue on a constant currency basis, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per share, free cash flow, free cash flow on a constant currency basis, free cash flow, as adjusted, free cash flow margins, non-GAAP R&D expenses, non-GAAP S&M expenses, non-GAAP G&A expenses, non-GAAP operating expenses, non-GAAP cost of revenue expense, non-GAAP financial expense, non-GAAP tax expense (collectively the “Non-GAAP financial measures”). Measures presented on a constant currency or foreign exchange neutral basis have been adjusted to exclude the effect of y/y changes in foreign currency exchange rate fluctuations. Bookings is a non-GAAP financial measure calculated by adding the change in deferred revenues and the change in unbilled contractual obligations for a particular period to revenues for the same period. Bookings include cash receipts for premium subscriptions purchased by users as well as cash we collect from business solutions, as well as payments due to us under the terms of contractual agreements for which we may have not yet received payment. Cash receipts for premium subscriptions are deferred and recognized as revenues over the terms of the subscriptions. Cash receipts for payments and the majority of the additional products and services (other than Google Workspace) are recognized as revenues upon receipt. Committed payments are recognized as revenue as we fulfill our obligation under the terms of the contractual agreement. Bookings and Creative Subscriptions Bookings are also presented on a further non-GAAP basis by excluding, in each case, bookings associated with long term B2B partnership agreements. Non-GAAP gross margin represents gross profit calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization, divided by revenue. Non-GAAP operating income (loss) represents operating income (loss) calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, amortization, acquisition-related expenses and sales tax expense accrual and other G&A expenses (income). Non-GAAP net income (loss) represents net loss calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, amortization, sales tax expense accrual and other G&A expenses (income), amortization of debt discount and debt issuance costs and acquisition-related expenses and non-operating foreign exchange expenses (income). Non-GAAP net income (loss) per share represents non-GAAP net income (loss) divided by the weighted average number of shares used in computing GAAP loss per share. Free cash flow represents net cash provided by (used in) operating activities less capital expenditures. Free cash flow, as adjusted, represents free cash flow further adjusted to exclude one-time cash restructuring charges and the capital expenditures and other expenses associated with the buildout of our new corporate headquarters. Free cash flow margins represent free cash flow divided by revenue. Non-GAAP cost of revenue represents cost of revenue calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP R&D expenses represent R&D expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP S&M expenses represent S&M expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP G&A expenses represent G&A expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP operating expenses represent operating expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP financial expense represents financial expense calculated in accordance with GAAP as adjusted for unrealized gains of equity investments, amortization of debt discount and debt issuance costs and non-operating foreign exchange expenses. Non-GAAP tax expense represents tax expense calculated in accordance with GAAP as adjusted for provisions for income tax effects related to non-GAAP adjustments.

The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company uses these non-GAAP financial measures for financial and operational decision making and as a means to evaluate period-to-period comparisons. The Company believes that these measures provide useful information about operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making.

For more information on the non-GAAP financial measures, please see the reconciliation tables provided below. The accompanying tables have more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures. The Company is unable to provide reconciliations of free cash flow, free cash flow margin, free cash flow, as adjusted, bookings, cumulative cohort bookings, non-GAAP gross margin, non-GAAP operating expenses, and non-GAAP tax expense to their most directly comparable GAAP financial measures on a forward-looking basis without unreasonable effort because items that impact those GAAP financial measures are out of the Company’s control and/or cannot be reasonably predicted. Such information may have a significant, and potentially unpredictable, impact on our future financial results.

Wix also uses Creative Subscriptions Annualized Recurring Revenue (ARR) as a key operating metric. Creative Subscriptions ARR is calculated as Creative Subscriptions Monthly Recurring Revenue (MRR) multiplied by 12. Creative Subscriptions MRR is calculated as the total of (i) the total monthly revenue of all Creative Subscriptions in effect on the last day of the period, other than domain registrations; (ii) the average revenue per month from domain registrations multiplied by all registered domains in effect on the last day of the period; and (iii) monthly revenue from other partnership agreements including enterprise partners.

Forward-Looking Statements

This document contains forward-looking statements, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such forward-looking statements may include projections regarding our future performance, including, but not limited to revenue, bookings and free cash flow, and may be identified by words like “anticipate,” “assume,” “believe,” “aim,” “forecast,” “indication,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “subject”, “project,” “outlook,” “future,” “will,” “seek” and similar terms or phrases. The forward-looking statements contained in this document, including the quarterly and annual guidance, are based on management’s current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others, our ability to attract and retain registered users and partners, and generate new premium subscriptions and additional business solutions as we continuously adjust our marketing strategy and customer care; maintenance of our brand and reputation, and generation of revenue from sources other than premium subscriptions; risks associated with international operations and the use of platform in various countries; risks related to the macroeconomic environment and ongoing global conflicts; security risks and payment risks and fluctuations in foreign currency exchange rates; failures of third-party hardware, software and infrastructure on which we rely, or failure to manage the operation of our infrastructure; adverse market conditions, including inflation, interest rates and other adverse developments that may adversely affect our cash balances and investment portfolio; our history of operating losses and inability to achieve sustained profitability; downturns or upturns in sales are not immediately reflected in full in our operating results; our ability to repurchase our ordinary shares and/or 0.00% Convertible Senior Notes due 2025 pursuant to our repurchase program; our ability to raise capital when needed or on acceptable terms; risks related to acquisitions and investments, pricing decisions, pandemics, natural disasters and other catastrophic events; our ability to develop and introduce new products and services, as well as maintain third-party products and are ability to keep up with rapid changes in design and technology; our ability to attract and retain qualified employees and key personnel; our ability to attract a diversified customer base and increased competition; our ability to maintain compatibility of our platform and solutions with changes in third-party applications and changes to technologies used in our solutions; our ability to acquire and service small business users; risks related to security breaches and unauthorized access to data, cyberattacks; our expectation regarding the uncertain future relationship between the United States and other countries with respect to trade policies, taxes, government regulations, and tariffs; our ability to comply with the regulations applicable to our operations, including new governmental regulations regarding the internet, consumer protection, artificial intelligence (“AI”), privacy and data protection laws and regulations, as well as contractual privacy and data protection obligations; risks relating to intellectual property, including infringements, litigation and claims, and our ability to maintain and protect our intellectual property rights and proprietary information; our expectations regarding the outcome of any regulatory investigation or litigation, including class actions; risks related to the development and integration of AI, generative AI, agentic AI, machine learning, and similar tools into our offerings, and comply with the regulatory environment impacting AI and AI-related activities; risks related to activities of registered users or content of their websites, and risks related to domain names and industry regulations; risks related to compliance with laws and regulations, including those related to economic sanctions, tariffs, export controls, anti-corruption and anti-money laundering, anti-trust, and consumer protection, and changes in these laws and regulations; risks related to tax, including application of indirect taxes, tax laws, changes in tax laws or changes in provision for income tax and examination of income tax returns; risks related to ordinary shares, activist shareholders, and our status as a foreign private issuer; risks related to our incorporation and location in Israel, including conflicts in the area; our expectations regarding future changes in our cost of revenues and our operating expenses on an absolute basis and as a percentage of our revenues; our planned level of capital expenditures and our belief that our existing cash and cash from operations will be sufficient to fund our operations for at least the next 12 months and for the foreseeable future; and our ability to enter into new markets and attracting new customer demographics, including our ability to successfully attract new partners and large enterprise-level users and to grow our activities, including through the adoption of our Wix Studio product, with these customer types as anticipated and other factors discussed under the heading “Risk Factors” in the Company’s annual report on Form 20-F for the year ended December 31, 2024 filed with the Securities and Exchange Commission on March 21, 2025. The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. Any forward-looking statement made by us in this press release speaks only as of the date hereof. Factors or events 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 undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.


Wix.com Ltd.
CONSOLIDATED STATEMENTS OF OPERATIONS – GAAP
(In thousands, except loss per share data)

	Three Months Ended
	March 31,
		2025		2024
	(unaudited)
Revenues
Creative Subscriptions	$	337,676	$	304,293
Business Solutions		135,975		115,483
		473,651		419,776

Cost of Revenues
Creative Subscriptions		56,067		54,803
Business Solutions		95,725		82,494
		151,792		137,297

Gross Profit		321,859		282,479

Operating expenses:
Research and development		127,497		124,245
Selling and marketing		111,563		107,234
General and administrative		45,394		41,330
Total operating expenses		284,454		272,809
Operating income		37,405		9,670
Financial income, net		5,832		18,884
Other income, net		64		211

Income before taxes on income		43,301		28,765
Income tax expenses		9,535		4,763
Net income	$	33,766	$	24,002

Basic net income per share	$	0.61	$	0.43

Basic weighted-average shares used to compute net income per share		55,708,670		56,098,997

Diluted net income per share	$	0.57	$	0.41

Diluted weighted-average shares used to compute net income per share		60,384,510		58,647,238

Wix.com Ltd.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)

	Period ended
	March 31,			December 31,
		2025			2024
Assets	(unaudited)			(audited)
Current Assets:
Cash and cash equivalents	$	653,276		$	660,939
Short-term deposits		112,078			106,844
Restricted deposits		793			773
Marketable securities		304,555			338,593
Trade receivables		47,328			44,674
Prepaid expenses and other current assets		59,132			128,577
Total current assets		1,177,162			1,280,400

Long-Term Assets:
Prepaid expenses and other long-term assets		31,343			27,021
Property and equipment, net		125,450			128,155
Marketable securities		6,183			6,135
Intangible assets, net		20,680			22,141
Goodwill		49,329			49,329
Operating lease right-of-use assets		395,513			399,861
Total long-term assets		628,498			632,642

Total assets	$	1,805,660		$	1,913,042

Liabilities and Shareholders’ Deficiency
Current Liabilities:
Trade payables	$	38,032		$	47,077
Employees and payroll accruals		78,983			143,131
Deferred revenues		698,343			661,171
Current portion of convertible notes, net		573,674			572,880
Accrued expenses and other current liabilities		79,546			63,246
Operating lease liabilities		29,369			27,907
Total current liabilities		1,497,947			1,515,412
Long Term Liabilities:
Deferred revenues		96,461			89,271
Deferred tax liability		1,066			1,965
Other long-term liabilities		19,414			16,021
Operating lease liabilities		359,389			369,159
Total long-term liabilities		476,330			476,416

Total liabilities		1,974,277			1,991,828

Shareholders’ Deficiency
Ordinary shares		107			107
Additional paid-in capital		1,923,576			1,840,574
Treasury shares		(1,225,165	)		(1,025,167	)
Accumulated other comprehensive loss		641			7,242
Accumulated deficit		(867,776	)		(901,542	)
Total shareholders’ deficiency		(168,617	)		(78,786	)

Total liabilities and shareholders’ deficiency	$	1,805,660		$	1,913,042

Wix.com Ltd.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
OPERATING ACTIVITIES:
Net income	$	33,766		$	24,002
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation		6,137			6,442
Amortization		1,461			1,483
Share based compensation expenses		60,261			58,142

Amortization of debt discount and debt issuance costs		794			790
Changes in accrued interest and exchange rate on short term and long term deposits		(224	)		880
Amortization of premium and discount and accrued interest on marketable securities, net		3,557			597

Remeasurement loss (gain) on Marketable equity		–			(3,367	)
Changes in deferred income taxes, net		1			(5,011	)
Changes in operating lease right-of-use assets		4,803			5,024
Changes in operating lease liabilities		(8,763	)		(3,652	)
Loss (gain) on foreign exchange, net		(2,006	)		553
Decrease (increase) in trade receivables		(2,654	)		1,119
Decrease (increase) in prepaid expenses and other current and long-term assets		58,289			(12,568	)
Decrease in trade payables		(9,338	)		(2,123	)

Decrease in employees and payroll accruals		(64,148	)		(2,429	)

Increase in short term and long term deferred revenues		44,362			41,319

Increase in accrued expenses and other current liabilities		19,193			2,635

Net cash provided by operating activities	$	145,491			113,836
INVESTING ACTIVITIES:

Proceeds from short-term deposits and restricted deposits		107,780			823

Investment in short-term deposits and restricted deposits		(112,810	)		(30,162	)
Investment in marketable securities		(27,693	)		(27,847	)
Proceeds from marketable securities		58,292			52,805

Purchase of property and equipment and lease prepayment		(2,629	)		(7,715	)
Capitalization of internal use of software		(421	)		(410	)
Proceeds from sale of equity securities		–			22,148
Proceed from realization of investments in privately held companies		417			–

Purchases of investments in privately held companies		(750	)		(550	)

Net cash provided by investing activities	$	22,186			9,092
FINANCING ACTIVITIES:

Proceeds from exercise of options and ESPP shares		22,654			22,628
Purchase of treasury stock		(200,000	)		(241,302	)

Net cash used in financing activities	$	(177,346	)		(218,674	)
Effect of exchange rates on cash, cash equivalent and restricted cash		2,006			(553	)

DECREASE IN CASH AND CASH EQUIVALENTS		(7,663	)		(96,299	)

CASH AND CASH EQUIVALENTS—Beginning of period		660,939			609,622
CASH AND CASH EQUIVALENTS—End of period	$	653,276		$	513,323

Wix.com Ltd.
KEY PERFORMANCE METRICS
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Creative Subscriptions		337,676			304,293
Business Solutions		135,975			115,483
Total Revenues	$	473,651		$	419,776

Creative Subscriptions		369,469			334,637
Business Solutions		141,436			122,644
Total Bookings	$	510,905		$	457,281

Free Cash Flow	$	142,441		$	105,711

Free Cash Flow excluding HQ build out	$	142,441		$	111,073
Creative Subscriptions ARR		1,372,670		$	1,244,264



Wix.com Ltd.
RECONCILIATION OF REVENUES TO BOOKINGS
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Revenues	$	473,651		$	419,776
Change in deferred revenues		44,362			41,319
Change in unbilled contractual obligations		(7,108	)		(3,814	)
Bookings	$	510,905		$	457,281

Y/Y growth		12	%

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Creative Subscriptions Revenues	$	337,676		$	304,293
Change in deferred revenues		38,901			34,158
Change in unbilled contractual obligations		(7,108	)		(3,814	)
Creative Subscriptions Bookings	$	369,469		$	334,637

Y/Y growth		10	%

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Business Solutions Revenues	$	135,975		$	115,483
Change in deferred revenues		5,461			7,161
Business Solutions Bookings	$	141,436		$	122,644

Y/Y growth		15	%



Wix.com Ltd.
RECONCILIATION OF COHORT BOOKINGS
(In millions)
	Three Months Ended
	March 31,
		2025			2024

Q1 Cohort revenues		9		$	9
Q1 Change in deferred revenues		27			23
Q1 Cohort Bookings	$	36		$	32



Wix.com Ltd.
RECONCILIATION OF REVENUES AND BOOKINGS EXCLUDING FX IMPACT
(In thousands)
	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Revenues	$	473,651		$	419,776
FX impact on Q1/25 using Y/Y rates		4,225			–
Revenues excluding FX impact	$	477,876		$	419,776
Y/Y growth		14	%

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Bookings	$	510,905		$	457,281
FX impact on Q1/25 using Y/Y rates		7,775			–
Bookings excluding FX impact	$	518,680		$	457,281
Y/Y growth		13	%



Wix.com Ltd.
TOTAL ADJUSTMENTS GAAP TO NON-GAAP
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
(1) Share based compensation expenses:	(unaudited)
Cost of revenues	$	3,320		$	3,590
Research and development		31,491			31,102
Selling and marketing		9,177			10,483
General and administrative		16,273			12,967
Total share based compensation expenses		60,261			58,142
(2) Amortization		1,472			1,483
(3) Acquisition related expenses		–			5
(4) Amortization of debt discount and debt issuance costs		794			790
(5) Sales tax accrual and other G&A expenses		699			121
(6) Unrealized loss (gain) on equity and other investments		(42	)		(3,367	)
(7) Non-operating foreign exchange income		(3,079	)		(4,663	)
(8) Provision for income tax effects related to non-GAAP adjustments		–			774
Total adjustments of GAAP to Non GAAP	$	60,105		$	53,285



Wix.com Ltd.
RECONCILIATION OF GAAP TO NON-GAAP GROSS PROFIT
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Gross Profit	$	321,859		$	282,479
Share based compensation expenses		3,320			3,590
Amortization		667			667
Non GAAP Gross Profit		325,846			286,736

Non GAAP Gross margin		69	%		68	%

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Gross Profit – Creative Subscriptions	$	281,609		$	249,490
Share based compensation expenses		2,367			2,669
Non GAAP Gross Profit – Creative Subscriptions		283,976			252,159

Non GAAP Gross margin – Creative Subscriptions		84	%		83	%

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Gross Profit – Business Solutions	$	40,250		$	32,989
Share based compensation expenses		953			921
Amortization		667			667
Non GAAP Gross Profit – Business Solutions		41,870			34,577

Non GAAP Gross margin – Business Solutions		31	%		30	%



Wix.com Ltd.
RECONCILIATION OF OPERATING INCOME TO NON-GAAP OPERATING INCOME
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Operating income	$	37,405		$	9,670
Adjustments:
Share based compensation expenses		60,261			58,142
Amortization		1,472			1,483
Sales tax accrual and other G&A expenses		699			121
Acquisition related expenses		–			5
Total adjustments	$	62,432		$	59,751

Non GAAP operating income	$	99,837		$	69,421

Non GAAP operating margin		21	%		17	%



Wix.com Ltd.
RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME AND NON-GAAP NET INCOME PER SHARE
(In thousands, except per share data)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Net income	$	33,766		$	24,002
Share based compensation expenses and other Non GAAP adjustments		60,105			53,285
Non-GAAP net income	$	93,871		$	77,287


Basic Non GAAP net income per share	$	1.69		$	1.38

Weighted average shares used in computing basic Non GAAP net income per share		55,708,670			56,098,997

Diluted Non GAAP net income per share	$	1.55		$	1.29

Weighted average shares used in computing diluted Non GAAP net income per share		60,384,510			60,073,986



Wix.com Ltd.
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW
(In thousands)

	Three Months Ended
	March 31,
		2025			2024
	(unaudited)
Net cash provided by operating activities	$	145,491		$	113,836
Capital expenditures, net		(3,050	)		(8,125	)
Free Cash Flow	$	142,441		$	105,711


Capex related to HQ build out		–			5,362

Free Cash Flow excluding HQ build out	$	142,441		$	111,073

The MIL Network –

May 21, 2025

MIL-OSI: WISeKey Launches WISe.ART 3.0, One of the World’s First and Largest Web3 Marketplaces for Digital Art, Twins, NFTs, and Crypto Collectibles

Source: GlobeNewswire (MIL-OSI)

WISeKey Launches WISe.ART 3.0, One of the World’s First and Largest Web3 Marketplaces for Digital Art, Twins, NFTs, and Crypto Collectibles

Geneva, Switzerland — May 21, 2025 — WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, in partnership with its subsidiary, SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, today announces the launch of new enhanced WISe.ART marketplace, a revolutionary Web3 platform for digital art, digital twins, NFTs, and crypto collectibles. This next-generation marketplace is one of the first and largest of its kind.

The WISe.ART 3.0 platform redefines the digital art experience by providing creators and collectors with a secure, traceable, and intelligent environment for trading and authenticating digital assets.

Key Features of WISe.ART 3.0:

Native Web3 support: Users can securely and easily connect their Metamask or Walletconnect wallet to the platform. NFTs can be imported and exported to the marketplace to allow complete control of their digital collection.
Refreshed platform & Multi-Device support: The WISe.Art platform has received a complete overhaul of its front-end and back-end structure, allowing users to carry their digital collection with them at all times, as the new platform supports desktop, tablets and mobile devices.
Link Between Physical and Digital Assets: WISe.ART NFTs are irreversibly connected to their corresponding physical objects, ensuring tamper-proof authenticity and provenance.
Smart Contracts for Monetization: Artists and creators can set automated royalty structures, usage rights, and monetization strategies through embedded smart contracts.
Advanced Cybersecurity & Post-Quantum Resilience: Secured by WISeKey’s and SEALSQ’s digital identity and encryption technologies, the platform safeguards all transactions and digital interactions against present and future cyber threats.
Easy purchase with Crossmint support: The Crossmint integration allows for seamless transactions with credit and debit cards, Apple and Google Pay, from anywhere in the world. Users that do not possess a wallet can create a ghost wallet on-the-fly upon checking out.

For Version 3 we have listened to our users and have added important new functionalities which they requested:

Collectors and artists can now import pre-minted NFTs from other platforms as long as they are minted in the crypto we support (such as Hedera, Polygon or Eth) and that the pre-minted NFTs are compatible with our requirements. Those wishing to consolidate their NFT collections into one wallet – it can now be done on WISe.ART. Additionally, artists wishing to leave a certain platform can now join WISe.ART and showcase their complete collections on one platform safely and efficiently.
Relisting tokens on the secondary market is still possible but for those who do not have a compatible wallet, it can be created with few simple steps, new prices can be set as the market fluctuates.
The user journey for artists and collectors is made simple and intuitive. New FAQ or contact request forms have been integrated for those who seek human interaction. Our white glove service is enhanced throughout the process.

Since its launch in 2021, WISe.ART, the NFT platform developed by WISeKey, has led numerous high-impact and pioneering NFT projects. Combining trusted digital identity, robust cybersecurity, and environmental consciousness, WISe.ART has redefined how digital art and luxury collectibles are created, verified, and traded. Here are the most significant NFT projects it has executed:

ONUART Foundation & United Nations – NFT for Education in Africa: A collaboration with ONUART and the UN led to NFT auctions designed to fund school-building initiatives in Africa, combining philanthropy with digital innovation. In 2023, WISeArt artist were the first to donate generative artworks to the ONUART Foundation in celebration of the 71^st anniversary of the UN Human Right Charter.
Antonio Banderas Foundation – Pedro Sandoval NFT Drop: A limited-edition NFT by artist Pedro Sandoval was sold to benefit the Antonio Banderas Foundation, showcasing WISe.ART’s support for social causes through cultural art.
Swiss Collector Events & WISe.ART Awards: WISe.ART has organized NFT art exhibitions, including the WISe.ART Awards, recognizing digital creators and curators pioneering new frontiers in NFT art.

Revolutionizing the Future of Art

WISe.ART 3.0 is democratizing digital expression by empowering billions of people worldwide to create, share, and monetize their artistic visions through a secure and trusted platform. Whether it’s a digitally generated painting, a collectible tied to a physical sculpture, or a new form of cultural expression, WISe.ART enables creators from all backgrounds to participate in the global digital art economy, safely and transparently. A new physical space will open Geneva to represent WISe.ART digital works on May 22. This space aims to bridge the 19^th and 21^st Century technologies raising awareness among collectors. The showroom will be a case study for the web3 communities to mingle with their cultural heritage.

Accessible Art Purchasing — Crypto Optional

To acquire WISe.ART digital artworks, including those linked to NFTs or hosted on blockchains, cryptocurrency is not a requirement. NFTs are available for purchase in USD and other fiat currencies, and transactions can be completed securely via credit card, debit card, Apple Pay or Google Pay. Additionally, Crossmint facilitates the conversion of fiat money to crypto for users who wish to engage in blockchain-based purchases. While collectors of blockchain-based works typically need a crypto wallet, platforms such as Metamask and WalletConnect make wallet setup simple, intuitive, and user-friendly, enabling purchases with the ease of acquiring a traditional artwork.

Carlos Moreira, Founder and CEO of WISeKey, stated: “Since inception the platform has welcomed an eclectic array of works representing all types of art from physical pieces coupled with digital twins, numeric compositions, ai assisted or generated art, music and film as well as collectibles like real estate, jewelry and design. As technology progresses, we attract artists who are keen to explore the new possibilities and means to convey their message. Technology is a tool – art is a vector for communication.”

WISe.ART 3.0 opens the door to a future where creativity meets accountability, and where digital assets are as protected and valuable as their physical counterparts. For more information, visit www.wise.art

About WISeKey

WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

Press and Investor Contacts

WISeKey International Holding Ltd
Company Contact: Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
info@wisekey.com

WISeKey Investor Relations (US)
The Equity Group Inc.
Lena Cati
Tel: +1 212 836-9611
lcati@equityny.com

The MIL Network –

May 21, 2025

MIL-OSI: Bitcoin Buys a View: Trump Tower Dubai Embraces Cryptocurrency Payments via Deus X Pay

Source: GlobeNewswire (MIL-OSI)

VILNIUS, Lithuania, May 21, 2025 (GLOBE NEWSWIRE) — Deus X Pay, a licensed institutional stablecoin payment solution setting new standards across the luxury sectors, is now enabling crypto payments for property purchases at the new Trump Tower Dubai, the first Trump International Hotel to be built in the Middle East.

The new $1 billion Trump Tower Dubai, unveiled through partnership with London-listed Dar Global, marks a breakthrough in global luxury real estate. Eric Trump, Executive Vice President of the Trump Organisation and son of US President Donald Trump, has recently announced that Bitcoin and other digital currencies will be accepted for condo sales.

Ziad El Chaar, CEO of Dar Global, said the Trump Tower Dubai is among the most ambitious Trump-branded residential towers globally, reflecting the project’s magnitude, stature, and symbolic significance in the region and internationally.

Trump previously told Gulf Business that Dubai is where luxury real estate and financial innovation intersect, and projects like Trump Tower Dubai are leading the way. By embracing technologies like stablecoins, buyers gain a faster, cheaper and more transparent way to secure exclusive, high-end properties while reshaping how luxury transactions are conducted.

Deus X Pay, a licensed Virtual Asset Service Provider (VASP) in Lithuania, offers institutional stablecoin payment solutions, enabling luxury sectors such as real estate, aviation and yachting to capitalise on this new era of finance. Deus X Pay CEO, Richard Crook, highlights that Dubai has created an environment where stablecoins can flourish as a practical, secure tool for international transactions (with Crypto Watch reporting that crypto adoption in the UAE is expected to surge 210% in 2025), giving premium buyers faster, frictionless access to high-value assets.

“Dubai’s forward-thinking stance has unlocked a whole new economy, and the gold standard for transactions of high-value assets. International buyers seek faster settlements, fewer cross-border complications and seamless access to premium developments. This project is a defining moment — not just for Deus X Pay, but for the global real estate sector. We are thrilled to deliver the regulated rails that make it possible for premium property buyers to transact instantly, compliantly and without the traditional delays or friction.”

The Trump Tower Dubai, an 80-story architectural icon, offers the highest international standards for ultra-high-net-worth travellers and long-stay residents. The exclusive building boasts 2-3 bedroom apartments and 4-bedroom penthouses valued at over AED 73 million, the highest outdoor swimming pool in the world, and has views of the world’s tallest building, the Burj Khalifa.

This new skyscraper is part of an expanding trend across private aviation, superyachts, and luxury collectables as high-end sectors embrace digital assets as a payment option to future-proof legacy industries.

For media enquiries, contact:
Sarah Tran
Head of Marketing
media@deusxpay.com

About Deus X Pay
Deus X Pay is a regulated provider of institutional stablecoin payment solutions, revolutionising the authorisation, clearing, and settlement of cryptocurrency payments. We enhance global payment options for institutions, businesses, and corporations by seamlessly merging traditional finance with advanced digital payment infrastructure, enabling faster, more cost-effective, and secure transactions.

Fully compliant and regulated as a Virtual Asset Service Provider, Deus X Pay operates under a license in Lithuania, supervised by the Financial Crime Investigation Service (FNTT), the Czech Republic, supervised by the Financial Analytical Office (FAU), and in Canada, supervised by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

As a part of the innovative crypto investment firm Deus X Capital, we equip organisations with state-of-the-art financial tools aimed at fostering growth and success in today’s dynamic market.

Disclaimer: This is a paid post and is provided by Deus X Pay. 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.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4da4d9a6-74af-4322-b030-f4ed0f09eb4f

The MIL Network –

May 21, 2025
MIL-OSI New Zealand: 2-for-1: Police bag prolific Auckland shoplifters

Source: New Zealand Police

Police have caught up with two of Auckland’s most recidivist retail crime offenders this week.

Both men were of interest to the National Retail Investigation Support Unit (NRISU), after allegedly committing more than $10,000 worth of offending in recent months.

Early this morning, a Waitematā Crime Squad unit came across a vehicle in Massey while carrying out prevention patrols.

Detective Senior Sergeant Megan Goldie says a traffic stop was carried out on Don Buck Road.

“It was soon established the man was being sought in relation to a series of shoplifting from retailers across Auckland,” she says.

“The man will face seven shoplifting charges, with three of those being valued over $1000.”

The 41-year-old will be appearing in the Waitākere District Court today and will have his bail opposed.

Meanwhile, further south, Counties Manukau East Police have laid more than 10 charges against a Mongrel Mob member.

Area Prevention Manager, Inspector Rakana Cook says units were attending a family harm event in Ōtara on Sunday.

“Staff established one of the parties involved had numerous warrants for his arrest in relation to shoplifting offending in Auckland and Whangārei,” he says.

“He was also a target for the NRISU given how prolific his offending has been over the past month.”

Inspector Cook says the 34-year-old man appeared in the Manukau District Court on 10 shoplifting offences.

“Police successfully applied to have this man’s bail opposed and he has been remanded in custody to reappear in July.

“It’s a fantastic outcome and the man has been held accountable for thousands of dollars’ worth of offending.”

ENDS.

Jarred Williamson/NZ Police

MIL OSI New Zealand News –

May 21, 2025

MIL-OSI: CoinShares Expands XBT Provider Platform with Seven New Physical Crypto ETPs

Source: GlobeNewswire (MIL-OSI)

May 21, 2025 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares” or “the Group”) (Nasdaq Stockholm: CS; US OTCQX: CNSRF), a leading global investment company specializing in digital assets with over $6 billion in AUM, announces the expansion of its Swedish XBT Provider Platform with the launch of seven new physically-backed crypto Exchange Traded Products (ETPs).

CoinShares is leveraging its well-established and respected Swedish platform, CoinShares XBT Provider AB, to offer investors access to new digital assets with best-in-class structuration, cost-effective management fees, and staking rewards for proof-of-stake cryptocurrencies. Each product employs physical replication, meaning the underlying cryptocurrencies purchased and directly held in a regulated custodian.

The seven new products, all denominated and traded in SEK and listed on Nasdaq Stockholm, include:

Name	Management Fees	Staking Reward
CoinShares XBT Litecoin	1.50% p.a.	Not a proof of stake crypto
CoinShares XBT Chainlink	1.50% p.a.	Not a proof of stake crypto
CoinShares XBT Polkadot	Reduced to 0.00% p.a.	5.0% p.a.
CoinShares XBT Solana	Reduced to 0.00% p.a.	3.0% p.a.
CoinShares XBT Cardano	Reduced to 0.00% p.a.	2.0% p.a.
CoinShares XBT XRP	1.50% p.a.	Not a proof of stake crypto
CoinShares XBT Uniswap	1.50% p.a.	Not a proof of stake crypto

Jean-Marie Mognetti, CEO of CoinShares, commented on the launch: “We are glad to reinvigorate the CoinShares XBT Provider platform, which made history as the world’s first open-ended crypto ETP when created in 2015 and subsequently acquired by CoinShares in 2016. With this product extension, we’re enabling Swedish investors to access an expanded range of tokens through a pioneering and time-tested crypto ETP platform. The XBT Provider platform has consistently demonstrated its reliability and has become the trusted choice for Swedish investors seeking exposure to digital assets.

This expansion represents our commitment to developing the Swedish market, providing institutional-grade investment vehicles that can help bridge the adoption gap that currently exists compared to other European markets. By offering these innovative products on a trusted platform, we aim to accelerate digital asset integration within Sweden’s sophisticated financial ecosystem.”

“We are happy to see CoinShares expand their offering on our markets. The demand for ETPs is continuing to grow and this is an important step for the Swedish market in meeting that demand. With a broader range of locally listed ETPs, we give investors the opportunity to take advantage of cost-effective, transparent investment opportunities.” says Adam Kostyál, President, Nasdaq Stockholm

About CoinShares

CoinShares is a leading global digital asset manager that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK, and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | enquiries@coinshares.com
Investor Relations | +44 (0)1534 513 100 | enquiries@coinshares.com

PRESS CONTACT

CoinShares
Benoît Pellevoizin
bpellevoizin@coinshares.com

M Group Strategic Communications
Peter Padovano
coinshares@mgroupsc.com

The MIL Network –

May 21, 2025

MIL-Evening Report: Interest rates are coming down. Here’s what homeowners should know about refinancing
Source: The Conversation (Au and NZ) – By Ama Samarasinghe, Lecturer, Financial Planning and Tax, RMIT University

doublelee/Shutterstock

On Tuesday, the Reserve Bank of Australia cut the target cash rate by 0.25 percentage points. It now sits at 3.85% – the lowest since May 2023.

Australia’s big four banks were all quick to announce they would be passing the cuts on to borrowers. If you’ve got a mortgage, you might be wondering if this is your cue to act.

Refinancing your home loan – whether by negotiating a better deal with your current lender or switching to a new one – could save you thousands over the life of your loan.

However, it won’t be the right decision for everyone. And there are some important things to know about how the process works – including hidden costs and risks.

What is refinancing?

Refinancing simply means replacing your existing home loan with a new one – either from your current lender or a different one. The goal? To take advantage of better loan terms.

If you’re on a “variable rate” loan, your lender may already be passing on some or all of the recent rate cut (though you may have had to opt in).

Read more:
RBA cuts interest rates, ready to respond again if the economy weakens further

But if you’re on a “fixed rate” loan, your repayments will stay the same until your fixed term ends – meaning you might not benefit from the cut unless you refinance (though break costs could apply).

Switching to a loan with a lower rate can mean smaller monthly repayments. Or, by keeping repayments the same size but with a lower interest rate, you could potentially pay off a loan faster and save in the long term.

Refinancing activity has been trending up since 2021, with external refinancing (switching banks) rising significantly among both owner-occupiers and investors. That’s a clear sign many borrowers are chasing better deals.

Refinancing activity could increase further after this month’s rate cut.
Zivica Kerkez/Shutterstock

Can refinancing save you money?

Yes – if it’s right for you and you do it right. Switching to a lower interest rate could slash thousands off your yearly repayments.

If you’ve built up equity, you might be able to release funds to reinvest or improve your property. Some lenders also offer refinancing cashback deals – one-off payments to attract new customers.

There are some important things to consider – including some traps to avoid – if you’re thinking about refinancing your home loan.

1. Be mindful of your loan-to-value ratio

Loan-to-value ratio (LVR) is the amount you borrowed as a percentage of the property’s value or purchase price.

If your LVR is above 80%, you probably paid lenders mortgage insurance (LMI) on your original loan, designed to protect the lender in case you default.

If your current loan still exceeds 80% of your home’s value (based on the new lender’s valuation), you might need to pay LMI again. That cost could wipe out any benefit from a lower rate.

2. Careful how you compare

When comparing rates and repayments, make sure you’re comparing apples with apples.

If you’ve already paid five years on a 30-year loan, you have 25 years left. But when you ask a new lender for a quote, they may show repayments based on a full 30-year term – which could make the monthly repayment look much lower.

To make a fair comparison, ask for quotes based on your remaining loan term. If you decide to switch, aiming for a loan with the same term can help you avoid paying more interest in the long run.

3. Factor in all associated costs

Refinancing comes with costs. These may include:
- break fees if you’re leaving a fixed-term loan early
- settlement fees for your current lender to close out the loan
- application and valuation fees with the new lender
- ongoing monthly fees that might not seem large but can add up over time.
Also, if you’re applying to multiple lenders to compare offers, be aware requesting multiple credit checks in a short space of time can negatively impact your credit score.

4. Consider renegotiating with your existing lender first

Lenders rarely offer their best deals to existing customers – unless you ask. In fact, they often reserve the most attractive deals for new customers.

Consider picking up the phone and asking for a rate review. If you have a better offer from another bank, you may be able to use that as leverage.

Staying with your current lender can have advantages. It may be quicker and easier than refinancing with another lender. But don’t let loyalty cost you – especially if better rates are on the table elsewhere.

5. Don’t assume your repayments will drop automatically

For borrowers on variable loans, some banks don’t automatically reduce your repayments after a rate cut. You may need to manually adjust them through your bank’s app or website, or “opt in”.

Alternatively, keeping your repayment amount the same could help you pay off your loan faster and reduce interest costs.

Banks don’t always automatically adjust variable loan repayments after a rate cut.
David Lade/Shutterstock

6. Check your credit score before applying

Your credit score can play a key role in refinancing. Lenders use it to assess how risky it is to lend to you – and it can affect the interest rate you’re offered.

If your score has dropped since you first took out your loan, you may not qualify for the best deals.

Check your score through your bank or a free online service before you apply. If it’s low, take time to improve it before refinancing to boost your chances of approval and better rates.

For an estimate of your potential savings from refinancing, try the Australian Securities and Investments Commission (ASIC)’s MoneySmart mortgage switching calculator.

Disclaimer: This article provides general information only and does not take into account your personal objectives, financial situation, or needs. It is not intended as financial advice. Before acting on any information, consider whether it is appropriate for your circumstances.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Interest rates are coming down. Here’s what homeowners should know about refinancing – https://theconversation.com/interest-rates-are-coming-down-heres-what-homeowners-should-know-about-refinancing-257116
MIL OSI Analysis – EveningReport.nz –
May 21, 2025
MIL-OSI: Cipher Mining Prices Convertible Senior Notes Offering and Hedging Transaction to Place Borrowed Common Stock

Source: GlobeNewswire (MIL-OSI)

NEW YORK, May 21, 2025 (GLOBE NEWSWIRE) — Cipher Mining Inc. (NASDAQ: CIFR) (“Cipher” or the “Company”) today announced the pricing of its public offering of $150,000,000 aggregate principal amount of convertible senior notes due 2030 (the “notes”) in an offering registered under the Securities Act of 1933, as amended. The issuance and sale of the notes are scheduled to settle on May 22, 2025, subject to customary closing conditions. Cipher also granted the underwriters of the notes offering a 30-day option to purchase up to an additional $22,500,000 aggregate principal amount of notes solely to cover over-allotments. Morgan Stanley is acting as sole bookrunning manager for the offering. Keefe, Bruyette & Woods, A Stifel Company is acting as co-manager for the offering.

The notes will be senior, unsecured obligations of Cipher, and will accrue interest at a rate of 1.75% per annum, payable semi-annually in arrears on May 15 and November 15 of each year, beginning on November 15, 2025. The notes will mature on May 15, 2030, unless earlier repurchased, redeemed or converted. Noteholders will have the right to convert their notes in certain circumstances and during specified periods. Cipher will settle conversions by paying or delivering, as applicable, cash, shares of its common stock, par value $0.001 per share (“common stock”), or a combination of cash and shares of its common stock, at Cipher’s election. The initial conversion rate is 224.9213 shares of common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $4.45 per share of common stock. The initial conversion price represents a premium of approximately 30.00% over the $3.42 public offering price per share of common stock in the concurrent delta offering referred to below. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events.

The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at Cipher’s option at any time, and from time to time, on or after May 22, 2028 and on or before the 30th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of Cipher’s common stock exceeds 130% of the conversion price for a specified period of time. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.

If certain corporate events that constitute a “fundamental change” occur, then, subject to a limited exception, noteholders may require Cipher to repurchase their notes for cash. The repurchase price will be equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date. In addition, unless Cipher has previously called all outstanding notes for redemption, noteholders may at their option require Cipher to repurchase their notes for cash on May 15, 2028 at a repurchase price equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date.

The net proceeds from the offering, before offering expenses, will be $145,875,000 (or $167,756,250 if the underwriters fully exercise their option to purchase additional notes), after deducting the underwriting discounts and commissions. Cipher intends to use the net proceeds from the offering to complete Phase 1 of the Black Pearl data center project (“Phase 1”), including: (i) purchasing at a discount the remaining balance of mining rigs required for Phase 1; (ii) paying expected tariffs and shipping costs for the mining rigs to be used for Phase 1; and (iii) paying other infrastructure-related capital expenditures in connection with Phase 1, and for general corporate purposes. On May 16, 2025, the Company, through its wholly-owned subsidiaries Cipher Mining Infrastructure LLC, a Delaware limited liability company, and Cipher Black Pearl LLC, a Delaware limited liability company, entered into an Amendment Agreement and Deed of Novation to the Future Sales and Purchase Agreement (the “2025 Amendment”) with Bitmain Technologies Delaware Limited, which amends the Company’s existing Future Sales and Purchase Agreement, dated December 16, 2023, as amended by the Supplemental Agreement, dated June 5, 2024, the Amendment Agreement, dated July 10, 2024 and the Notice of Exercise dated February 5, 2025 (together, the “Original Agreement”). The Original Agreement has been amended to include an updated delivery schedule that allows for rig delivery by June 23, 2025. Through such amendment, the Company aims to accelerate its rig deployment timeline and offset a portion of expected tariffs. The Company also received a 10% reduction in cost in exchange for the Company’s early payment of the remaining balance outstanding under the Original Agreement. The amendment also provides the Company with additional incremental value from BTC-linked call options.

Concurrently with the offering of the notes, Morgan Stanley, acting on behalf of itself and/or its affiliates (in such capacity, the “delta offering underwriter”), intends to offer, in a separate, underwritten offering, 17,540,000 shares of Cipher’s common stock borrowed from third parties (the “concurrent delta offering”), to facilitate hedging transactions (whether physical and/or through derivatives) by some of the purchasers of the notes. The delta offering underwriter will initially offer the shares of Cipher’s common stock to the public at a price of $3.42 per share and subsequently offer the shares of Cipher’s common stock for sale in one or more transactions on The Nasdaq Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise, at market prices prevailing at the time of sale. The concurrent delta offering is scheduled to settle on May 22, 2025, subject to customary closing conditions. The completion of the offering of the notes is contingent on the completion of the concurrent delta offering, and the completion of the concurrent delta offering is contingent on the completion of the offering of the notes.

The offering of the notes and the concurrent delta offering are being made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission (the “SEC”). Each of the offering of the notes and the concurrent delta offering is being made only by means of a prospectus supplement and an accompanying prospectus. Before you invest, you should read the respective prospectus supplements and the accompanying prospectus and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. You may find these documents on the SEC’s website at www.sec.gov. Alternatively, copies of these documents can be obtained by contacting: Morgan Stanley, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department.

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

J. Wood Capital Advisors LLC acted as financial advisor to the Company.

About Cipher

Cipher is focused on the development and operation of industrial-scale data centers for bitcoin mining and HPC hosting. Cipher aims to be a market leader in innovation, including in bitcoin mining growth, data center construction and as a hosting partner to the world’s largest HPC companies. To learn more about Cipher, please visit https://www.ciphermining.com/.

Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws of the United States. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, such as, statements about the completion of the notes offering and the concurrent delta offering, the use of proceeds from the notes offering, the effect of the hedging activities related to the notes offering on the market price of our shares of common stock, our beliefs and expectations regarding our future results of operations and financial position, planned business model and strategy, our bitcoin mining and HPC data center development, timing and likelihood of success, capacity, functionality and timing of operation of data centers, expectations regarding the operations of data centers, potential strategic initiatives, such as joint ventures and partnerships, and management plans and objectives, are forward-looking statements and should be evaluated as such. These forward-looking statements generally are identified by the words “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “seeks,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “strategy,” “future,” “forecasts,” “opportunity,” “predicts,” “potential,” “would,” “will likely result,” “continue,” and similar expressions (including the negative versions of such words or expressions).

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and our management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: volatility in the price of Cipher’s securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, Cipher’s evolving business model and strategy and efforts we may make to modify aspects of our business model or engage in various strategic initiatives, variations in performance across competitors, changes in laws and regulations affecting Cipher’s business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the SEC on February 25, 2025, and in Cipher’s subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. 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 Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Contacts:
Investor Contact:
Courtney Knight
Head of Investor Relations at Cipher Mining
courtney.knight@ciphermining.com

Media Contact:
Ryan Dicovitsky / Kendal Till
Dukas Linden Public Relations
CipherMining@DLPR.com

The MIL Network –

May 21, 2025
MIL-Evening Report: EDITOR’S NOTE: New Podcast The Bradbury Group Launches in NZ

Editor’s Note: I’m pleased to say my old friend Martyn ‘Bomber’ Bradbury has launched his new programme and podcast titled The Bradbury Group.

Martyn needs no introduction to New Zealanders. Under his handle ‘Bomber’ he’s been at the forefront of political debate, especially from a left perspective, for decades.

What is particularly refreshing about this latest broadcasting initiative is that Martyn has been unleashed from the constraints of his previous show, The Working Group, and its funders. You can read all about that over on TheDailyBlog.co.nz which is Martyn’s own blog site.

He launched the first episode of The Bradbury Group with a cracking line up. First up was Labour leader Chris Hipkins for 10 minutes, where Martyn put a number of concerns to Hipkins – including issues which concern many among the left of centre on Labour and where it is positioning itself under Hipkins’ leadership.

Then followed a panel discussion which included; Ti Pati Maori president John Tamahere, CTU chief economic Craig Rennie, and centre-right commentator and columnist Matthew Hooton.

Also, The Bradbury Group has already been the subject of New Zealand Parliamentary debate with the National-led coalition Government finance minister Nicola Willis citing it in her attacks on the leader of the opposition, Labour’s Chris Hipkins. Willis probably doesn’t realise it, but by raising The Bradbury Group in Parliament she gave the new programme a huge lift – that’s a promotion that advertising money can’t buy!

NZ Finance Minister Nicola Willis probably doesn’t realise it, but by raising The Bradbury Group in Parliament she gave the new programme a huge lift – that’s a promotion that advertising money can’t buy!

You can subscribe and follow The Bradbury Group on Youtube, TheDailyBlog.co.nz, Waatea Radio, and you can watch it live on PodTalk.live here.

MIL OSI Analysis – EveningReport.nz –

May 21, 2025
MIL-OSI Security: Business Owner Pleads Guilty to Fraud and Money Laundering Schemes

Source: United States Department of Justice (National Center for Disaster Fraud)

PHILADELPHIA – United States Attorney David Metcalf announced that Zaven Yeghiazaryan, 44, of Newtown, Pennsylvania, pleaded guilty before the Honorable Gerald J. Pappert to 13 counts of an indictment charging him with conspiracy, health care fraud, wire fraud, and money laundering in connection with his execution of a variety of schemes.

The charges arose from the defendant’s commission of fraud offenses targeting, among others, government programs, including through the use of shell companies and false identities, between January 2020 and April 2024. The defendant’s fraud offenses targeted two government programs which offered relief during the Covid-19 pandemic: the Small Business Administration’s Economic Injury Disaster Loan program, and the Pandemic Unemployment Assistance Program. In addition, the defendant admitted that he participated in a scheme to defraud the Medicaid program.

Based upon his guilty pleas to the 13 counts, the defendant faces a maximum possible sentence of 230 years in prison, a three-year period of supervised release, and a $3,250,000 fine, restitution of $334,905 and forfeiture. Sentencing is scheduled for September 4, 2025.

The case was investigated by the Social Security Administration – Office of the Inspector General, Internal Revenue Service – Criminal Investigation, the United States Postal Inspection Service, Homeland Security Investigations, the Department of Health and Human Services – Office of Inspector General, the United States Department of Labor, the United States Department of Transportation – Office of the Inspector General and the State Department. It is being prosecuted by Assistant United States Attorneys Mary E. Crawley and Special Assistant United States Attorney Megan Curran.

MIL Security OSI –

May 21, 2025

MIL-OSI: AMD Introduces New Radeon Graphics Cards and Ryzen Threadripper Processors at COMPUTEX 2025

Source: GlobeNewswire (MIL-OSI)

– Radeon RX 9060 XT brings next-gen gaming experiences and FSR 4 ML-powered upscaling to mainstream users –

– Threadripper 9000 Series and Radeon AI PRO R9700 redefine workstation and high-end desktop performance with full-spectrum compute and local AI processing –

TAIPEI, Taiwan, May 20, 2025 (GLOBE NEWSWIRE) — At COMPUTEX 2025, AMD (NASDAQ: AMD) unveiled its latest breakthroughs in high-performance computing with the launch of Radeon™ RX 9060 XT and Radeon™ AI PRO R9700 graphics cards, and Ryzen™ Threadripper™ 9000 Series processors. Engineered to address the toughest workloads in gaming, content creation, professional industries and AI development, these new processors push the boundaries of what’s possible.

“These announcements underscore our commitment to continue delivering industry-leading innovation across our product portfolio,” said Jack Huynh, senior vice president and general manager, Computing and Graphics Group at AMD. “The Radeon RX 9060 XT and Radeon AI PRO R9700 bring the performance and AI capabilities of RDNA 4 to workstations and gamers all around the world, while our new Ryzen Threadripper 9000 Series sets the new standard for high-end desktops and professional workstations. Together, these solutions represent our vision for empowering creators, gamers, and professionals with the performance and efficiency to push boundaries and drive creativity.”

The new Radeon RX 9060 XT GPUs are powered by the advanced AMD RDNA™ 4 architecture and deliver smooth, responsive 1440p gaming with FSR 4 ML-enhanced upscaling, and accelerated ray tracing. For those who build worlds, tell stories through pixels, or chase victory in esports, these cards offer the performance and intelligence to elevate every experience.

AMD also announced the Radeon™ AI PRO R9700, a new GPU built on AMD RDNA™ 4 architecture with second-generation AMD AI accelerators. With 32GB of graphics memory and PCIe® Gen 5 support, it’s designed for local AI inference, model finetuning, and complex creative workloads, with scalability for multi-GPU systems.

AMD also introduced the Ryzen Threadripper PRO 9000 WX-Series and Ryzen Threadripper 9000 Series processors — bringing record-setting core counts, massive memory bandwidth, and next-gen platform capabilities to professional and enthusiast desktops. Whether rendering cinematic VFX, simulating real-world physics, or locally fine-tuning billion-parameter AI models, these processors are built to break bottlenecks and accelerate innovation.

AMD Powers Next-Gen Gaming Infused with AI
Designed to unlock ultra-smooth gaming at 1440p, the Radeon RX 9060 XT is built for players who expect more. Equipped with up to 16GB of GDDR6 memory and 32 AMD RDNA 4 compute units, the GPU doubles ray tracing throughput compared to the previous generation, providing gamers with more realistic lighting, shadows, and reflections that bring virtual worlds to life.

Second-generation AI accelerators power features like FidelityFX™ Super Resolution 4 (FSR 4), which uses machine learning to boost frame rates and image fidelity under even the most demanding rendering conditions. HYPR-RX delivers a full suite of optimizations, including Radeon Super Resolution and Fluid Motion Frames for lightning-fast response times and immersive, tear-free visuals. With support for FP8 data types and structured sparsity, the RX 9060 XT is ready for the next generation of AI-assisted gameplay, creative tools, and generative experiences.

Model	Compute Units	VRAM	Game Clock (GHz)	Boost Clock¹ (GHz)	Memory Interface	Infinity Cache	TBP	Price (USD SEP)
AMD Radeon™ RX 9060 XT 8GB	32	8 GB	2.53	Up to 3.13	128-bit	32 MB	Starting at 150W	$299
AMD Radeon™ RX 9060 XT 16GB	32	16 GB	2.53	Up to 3.13	128-bit	32 MB	Starting at 160W	$349

Pricing and Availability
AMD Radeon RX 9060 XT graphics cards are expected to be available from leading board partners including Acer, ASRock, ASUS, Gigabyte, PowerColor, Sapphire, Vastarmor, XFX and Yeston, beginning later this year. The AMD Radeon RX 9060 XT 8GB has an SEP of $299 USD, while the AMD Radeon RX 9060 XT 16GB has an SEP of $349 USD.

AMD Radeon AI PRO R9700: Built for AI-Powered Workstations
Professionals advancing AI development can rely on the AMD Radeon™ AI PRO R9700 to accelerate local inference, model finetuning, and other data-heavy workflows. With second-generation AI accelerators delivering up to 2x the throughput of the previous generation² and full support for the ROCm™ software stack on Linux, with support for ROCm™ on Windows coming soon, the R9700 is built for high-performance AI with on-device control and flexibility.

The Radeon AI PRO R9700 also scales effectively in multi-GPU configurations, expanding memory and compute capacity for large models and parallel tasks. This flexibility makes it ideal for advanced workstations tackling complex simulations, real-time rendering, or concurrent AI workloads.

Model	Compute Units	VRAM	Game Clock (GHz)	Boost Clock¹ (GHz)	Memory Interface	Infinity Cache	TBP
AMD Radeon™ AI PRO R9700	64	32 GB	2.35	Up to 2.92	256-bit	64 MB	300W

Pricing and Availability
The new Radeon AI PRO R9700 is expected to be available from leading board partners starting in July 2025.

Ryzen Threadripper 9000 Series Workstations Processors Redefine Performance
The new AMD Ryzen Threadripper PRO 9000 WX-Series and Threadripper 9000 Series processors are purpose-built to handle the most demanding multi-threaded workloads and empower professionals to bring complex visions to life faster than ever.

At the top of the stack, the Ryzen Threadripper PRO 9995WX offers 96 cores and 192 threads, ideal for visual effects, simulation, and AI model development. With up to 384MB of L3 cache and 128 lanes of PCIe® 5.0 connectivity, these processors make short work of large datasets, multi-GPU workloads, and memory-intensive applications. All PRO models come equipped with AMD PRO technologies for enterprise-grade security, manageability, and platform stability, helping to simplify IT operations.

For enthusiasts and creators who demand workstation-grade compute in a high-end desktop (HEDT) platform, the Ryzen Threadripper 9000 Series offers up to 64 cores, enabling efficient content creation, rapid compiling, and local AI training without the need to offload to the cloud, helping to reduce cost, latency and improve privacy.

Model	Cores/Threads	Base Frequency	Boost Frequency¹	TDP	Total Cache
AMD Ryzen™ Threadripper™ PRO 9995WX	96 C / 192 T	2.5 GHz	5.4 GHz	350W	480 MB
AMD Ryzen™ Threadripper™ PRO 9985WX	64 C / 128 T	3.2 GHz	5.4 GHz	350W	320 MB
AMD Ryzen™ Threadripper™ PRO 9975WX	32 C / 64 T	4.0 GHz	5.4 GHz	350W	160 MB
AMD Ryzen™ Threadripper™ PRO 9965WX	24 C / 48 T	4.2 GHz	5.4 GHz	350W	152 MB
AMD Ryzen™ Threadripper™ PRO 9955WX	16 C / 32 T	4.5 GHz	5.4 GHz	350W	80 MB
AMD Ryzen™ Threadripper™ PRO 9945WX	12 C / 24 T	4.7 GHz	5.4 GHz	350W	76 MB
AMD Ryzen™ Threadripper™ 9980X	64 C / 128 T	3.2 GHz	5.4 GHz	350W	320 MB
AMD Ryzen™ Threadripper™ 9970X	32 C / 64 T	4.0 GHz	5.4 GHz	350W	160 MB
AMD Ryzen™ Threadripper™ 9960X	24 C / 48 T	4.2 GHz	5.4 GHz	350W	152 MB

Pricing and Availability
The AMD Ryzen Threadripper PRO 9000 WX-Series processors are expected to be available from MNCs, including Dell, HP and Lenovo, and Supermicro, as well as system integrators starting later this year. High-end desktop platforms featuring AMD Ryzen Threadripper 9000 Series processors, as well as DIY Ryzen Threadripper 9000 Series and select Ryzen Threadripper PRO 9000 WX-Series processors, will be available from retailers starting July 2025.

AMD Continue to Deliver the Future of AI PCs
During the keynote, Jack Huynh was joined by ASUS Co-CEO S.Y. Hsu to introduce the new ASUS Expert P Series Copilot+ PCs, the next-generation commercial PCs designed to bring AI acceleration to the enterprise. Powered by up to AMD Ryzen™ AI PRO 300 Series processors, these systems offer up-to 50+ TOPS of NPU performance, enabling fast, efficient AI-enhanced productivity in top-of-the-line business platforms. Featuring AMD PRO Technologies, Ryzen AI PRO Series processors deliver the enterprise-grade security and manageability features needed for the modern IT environment.

“We’re proud to deepen our collaboration with AMD as we usher in a new era of AI-powered computing,” said S.Y. Hsu, Co-CEO of ASUS. “With the addition of the new Expert series — built from the ground up to revolutionize performance and efficiency for the modern workplace — to our broad AI PC portfolio, and commitment to innovation, we aim to deliver next-gen AI experiences that empower users everywhere.”

“At Lenovo, we’re committed to delivering AI PCs that are not only powerful, but truly personal and productive. Our long-standing collaboration with AMD continues to drive this vision forward — from high-performance laptops to innovative workstations. Together, we’re enabling faster, smarter computing experiences for every kind of user. We’re especially excited about what’s coming next in our ThinkStation P8 workstation, where AMD’s latest high-performance Ryzen Threadripper PRO processors will unlock new possibilities for creators and professionals alike,” said Luca Rossi, President, Intelligent Devices Group, Lenovo.

Supporting Resources

Learn more about AMD at COMPUTEX 2025 here
Learn more AMD Radeon Graphics cards here
Learn more about AMD FidelityFX Super Resolution here
Learn more about Adrenalin Edition AI software here
Learn more about HYPR-RX profiles here
Learn more about Radeon AI PRO Graphics cards here
Learn more about AMD Ryzen Threadripper processors here
Learn more about AMD PRO Technologies here
Follow AMD on LinkedIn
Follow AMD on X

About AMD
For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn and X pages.

^{____________________________________________
1} Boost Clock Frequency is the maximum frequency achievable on the GPU running a bursty workload. Boost clock achievability, frequency, and sustainability will vary based on several factors, including but not limited to: thermal conditions and variation in applications and workloads. GD-151.
² Testing as of 3/11/2025 by AMD. Average performance of multiple runs for “How long would it take for a ball dropped from 10 meter height to hit the ground?“ and “Summarize the following in exactly five lines: [Insert Scene 1 Act 1 of Romeo and Juliet]”, drop edge cases where the model starts overthinking (more than 2k thinking tokens) to standardize response length. No speculative decode. All tests conducted on LM Studio 0.3.12 and Vulkan llama.cpp 1.18 with 100% GPU offload for AMD. NVIDIA-recommended CUDA llama.cpp used for RTX 4090 with NVIDIA-recommended 50% GPU offload (https://blogs.nvidia.com/blog/ai-decoded-lm-studio/). Models tested: DeepSeek R1 Qwen 32b Q8 and DeepSeek R1 Llama 70b Q4 K M. System specifications: AMD Ryzen™ 7700X, 64GB DDR5 RAM 4800 MT/s, Windows 11 24H2 26100.2894, AMD Radeon™ PRO W7900 48GB and W7800 48GB using Adrenalin 25.1.1 Optional vs AMD Ryzen™ 9800X3D, 32GB DDR5 RAM 6000 MT/s.,Windows 11 24H2 26100.2894 and NVIDIA GeForce RTX 4090. GeForce 572.70. Performance may vary. RPW-493.

Contact:
Stacy MacDiarmid
AMD Communications
+1 512-658-2265
Stacy.MacDiarmid@amd.com

Liz Stine
AMD Investor Relations
+1 720-652-3965
Liz.Stine@amd.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3fb45eaf-59b5-4ca5-af70-411984cb93a1

The MIL Network –

May 21, 2025

MIL-OSI New Zealand: Have your say on Financial Service Providers (Registration and Dispute Resolution) Amendment Bill
Source:

Media Release

Organisation: Finance and Expenditure Committee

For release: 21 May 2025

Have your say on Financial Service Providers (Registration and Dispute Resolution) Amendment Bill

The Finance and Expenditure Committee is calling for submissions on the Financial Service Providers (Registration and Dispute Resolution) Amendment Bill. The closing date for submissions is 11.59pm on Monday, 23 June 2025.

This bill is one of three that the Finance and Expenditure Committee is considering related to financial services. The other two bills are the Credit Contracts and Consumer Finance Amendment Bill and the Financial Markets Conduct Amendment Bill.

Please take care to upload your submission on the relevant bill.

Financial dispute resolution is a free way for consumers to resolve disputes with their bank, insurer, KiwiSaver provider, or other financial service provider. This bill would make two changes to financial dispute resolution. The changes aim to ensure:
- improved oversight of approved dispute resolution scheme performance, by requiring the responsible Minister to decide how the schemes must undertake their independent reviews
- effective and impartial governance of the schemes’ boards, by providing for a regulation-making power that can be used to set skills, experience, and independence requirements of board members.
Tell the Finance and Expenditure Committee what you think:

Make a submission on the bill by 11.59pm on Monday, 23 June 2025.

For more details about the bill:

ENDS

For media enquiries contact:

Finance and Expenditure Committee Staff

fe@parliament.govt.nz

MIL OSI

MIL OSI New Zealand News –
May 21, 2025
MIL-OSI New Zealand: Have your say on Financial Markets Conduct Amendment Bill
Source:

Media Release

Organisation: Finance and Expenditure Committee

For release: 21 May 2025

Have your say on Financial Markets Conduct Amendment Bill

The Finance and Expenditure Committee is calling for submissions on the Financial Markets Conduct Amendment Bill. The closing date for submissions is 11.59pm on Monday, 23 June 2025.

This bill is one of three that the Finance and Expenditure Committee is considering related to financial services. The other two bills are the Financial Service Providers (Registration and Dispute Resolution) Amendment Bill and the Credit Contracts and Consumer Finance Amendment Bill.

Please take care to upload your submission on the relevant bill.

The bill would:
- change minimum requirements for fair conduct programmes to allow for more flexibility and to reduce unnecessary prescription and compliance costs
- require the Financial Markets Authority (FMA) to issue a single licence covering different classes of market services
- change provisions that require firms holding a licence under the Financial Markets Conduct Act, or authorised bodies, to obtain regulatory approval from the FMA before certain changes in firms take effect
- introduce on-site inspection powers for the FMA to, without notice, enter and remain at a place of business of a financial markets participant for compliance monitoring purpose
- make a number of other technical amendments.
Tell the Finance and Expenditure Committee what you think:

Make a submission on the bill by 11.59pm on Monday, 23 June 2025.

For more details about the bill:

ENDS

For media enquiries contact:

Finance and Expenditure Committee Staff

fe@parliament.govt.nz

MIL OSI

MIL OSI New Zealand News –
May 21, 2025
MIL-OSI New Zealand: Have your say on Credit Contracts and Consumer Finance Amendment Bill
Source:

Media Release

Organisation: Finance and Expenditure Committee

For release: 21 May 2025

Have your say on Credit Contracts and Consumer Finance Amendment Bill

The Finance and Expenditure Committee is calling for submissions on the Credit Contracts and Consumer Finance Amendment Bill. The closing date for submissions is 11.59pm on Monday, 23 June 2025.

This bill is one of three that the Finance and Expenditure Committee is considering related to financial services. The other two bills are the Financial Service Providers (Registration and Dispute Resolution) Amendment Bill and the Financial Markets Conduct Amendment Bill.

Please take care to upload your submission on the relevant bill.

This bill would:
- transfer regulatory responsibility for credit contracts and consumer finance from the Commerce Commission to the Financial Markets Authority
- make certain alignments between the Credit Contracts and Consumer Finance Act 2003 and other financial markets legislation to support a consistent and proportionate regulatory system, including transitioning lenders from a certification to a licensing regime
- remove features of the Credit Contracts and Consumer Finance Act 2003 (such as the due diligence duty for directors and senior managers) that are unnecessary because of, or do not fit as well with, the new regulatory approach (including the adoption of a licensing model)
- limit the situations in which a creditor’s failure to make required initial or variation disclosure can mean that the debtor is not liable for the costs of borrowing.
Tell the Finance and Expenditure Committee what you think:

Make a submission on the bill by 11.59pm on Monday, 23 June 2025.

For more details about the bill:

ENDS

For media enquiries contact:

Finance and Expenditure Committee Staff

fe@parliament.govt.nz

MIL OSI

MIL OSI New Zealand News –
May 21, 2025
MIL-OSI Russia: Introduction of new professions in China reflects the vitality of the country’s economic development

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

At the closed test site of the National Internet of Vehicles Pilot Zone in Tianjin City (Xiqing District), Yao Zhonghua, an intelligent and connected vehicle (ICV) test specialist, is fully engrossed in creating a test scenario to prepare for the discovery of the ICV’s automatic emergency braking (AEB) function.

“We use test equipment to conduct tests on the efficiency and reliability of intelligent and connected vehicle functions, and record test videos and data in real time,” said Yao Zhonghua, 33.

In July 2024, the Ministry of Human Resources and Social Security of China and two other departments jointly released a list of 19 new occupations, and ICV tester is one of them.

According to analysis by Wang Linlin, dean of the Department of Human Resource Management at Nankai University Business School, over 70 percent of these new jobs are aimed at building new-quality productive forces, covering cutting-edge areas of “digital intelligence” such as the digital economy, green energy and intelligent manufacturing, which are the result of China’s technological revolution and industrial upgrading.

The introduction of new occupations leads to a broader range of products and services, allowing more people to make full use of their own advantages and open up new development opportunities. The new advanced occupations are highly consistent with the core content of the concept of “new quality productive forces” and reflect the vitality of China’s economic development.

At present, China’s renewing professional system has accelerated its development towards digitalization and intellectualization. Both the emergence of many new professions and the diversification of employers also reflect the acceleration of the country’s economic transformation and modernization.

“The emergence of new occupations creates a human resource base to ensure the growth of productive forces of new quality, promotes the movement of labor from low-value-added industries to high-skilled industries, and improves the overall quality of employment,” Wang Linlin said.

Taking the ICV industry as an example, more and more Chinese auto enterprises are pursuing innovative changes driven by new technologies. Digital workshops, smart factories, etc. are being built one after another, and innovative technological solutions and application scenarios are being introduced, leading to the constant emergence of new types of work and new professions.

She Hongzhi, deputy general manager of Yongtai Henji Investment (Tianjin), the operator of the National Internet of Vehicles Pilot Zone in Tianjin City (Xiqing District), said that in 2024, the total testing time at the closed testing site in the pilot zone exceeded 5,000 hours, showing a year-on-year increase of 150%.

“We have activated the development of the ICV industry, promoted the integration of enterprises into an industrial chain, created hundreds of vacancies in new professions, and the demand for skilled personnel in the fields of artificial intelligence, intelligent manufacturing and big data continues to grow,” She Hongzhi emphasized.

With the steady development of the digital economy, intelligent manufacturing and other fields, the demand for talent in new professions continues to grow. For example, according to forecasts in a report by consulting company McKinsey, by 2030, China’s demand for artificial intelligence specialists will reach 6 million people, and the shortage may reach 4 million people. According to the company’s estimates, the shortage of highly qualified digital specialists in China has already reached 25-30 million people, and it will continue to increase.

MIL OSI Russia News –

May 21, 2025
MIL-OSI China: MNCs foresee tailwinds for vibrancy

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

The momentum generated by government policies aimed at stabilizing foreign investment, combined with the rapid growth of green and artificial intelligence-driven economies, will deliver strong tailwinds for foreign companies in China this year, said foreign business executives.

With rising global economic headwinds and uncertainty over United States’ trade policies, many global enterprises are opting to consolidate their presence in China, with plans to maintain or expand investment.

China’s stable and business-friendly environment supported a modest rebound in foreign direct investment in March, with actual FDI inflows into the Chinese mainland increasing by 13.2 percent year-on-year, data from the Ministry of Commerce showed.

Marelli Holdings Co Ltd, a Saitama, Japan-headquartered multinational automotive parts manufacturer with more than 50 manufacturing facilities across the world, will expand its engineering team from 800 to 1,000 in China over the next three years.

“Many opportunities arise from Chinese automakers’ rapid shift toward electrification and intelligence, especially in the form of software-defined vehicles, which are setting new benchmarks for speed, scale and innovation,” said David Slump, the group’s president and CEO.

With China and the US agreeing to de-escalate trade tensions last week, Slump said that these two countries are major markets for Marelli.

“We are closely monitoring and assessing the situation, and are committed to minimizing any impact on our operations and customers,” said Slump. He added that the company is already exporting advanced products and solutions from China to other markets, including Europe, Mexico and Southeast Asia.

Also upbeat about the Chinese market, British pharmaceutical company AstraZeneca announced in March an investment of $2.5 billion to establish in Beijing its sixth global strategic R&D center, and further expand its biotech innovation partnerships and local manufacturing capabilities.

The new facility will advance early-stage research and clinical development and will be enabled by a new AI and data science laboratory.

Susan Galbraith, executive vice-president, oncology R&D, Astra-Zeneca, said that having two of its six global strategic R&D centers in China reflects the group’s confidence in China’s world-class biomedical innovation ecosystem and reinforces the nation’s critical role in its global R&D strategy.

Ji Wenhua, a professor at the Academy of China Open Economy Studies, which is part of the University of International Business and Economics in Beijing, said that China’s well-developed industrial bases, strong supply chain resilience and policy emphasis on innovation continue to make it an attractive destination for global capital.

According to China’s 2025 Action Plan for Stabilizing Foreign Investment, the country will support pilot regions in effectively implementing opening-up policies related to areas such as value-added telecommunication, biotechnology and wholly foreign-owned hospitals, providing whole-journey services for foreign-invested projects in these sectors.

The action plan also supports foreign businesses to participate in China’s new industrialization, with a focus on high-tech fields. Global capital has been welcomed in service sectors such as elderly care, culture and tourism, sports, healthcare, vocational education and finance.

As part of its strategy to strengthen operations in China, US express transportation service provider FedEx Corp announced in mid-May that it would enhance its international export services from Shanghai.

The cutoff times for same-day outbound shipments from Shanghai to Europe, Asia-Pacific and the Middle East, India and Africa will be further extended.

The foreign trade value of foreign-invested businesses reached 4.1 trillion yuan ($567.51 billion) in China between January and April, up 1.9 percent year-on-year, accounting for 29 percent of China’s total foreign trade value, statistics from the General Administration of Customs showed.

In the meantime, Jiangsu province, a major hub for foreign-invested companies, recorded 864.25 billion yuan in foreign trade value, up 7.2 percent year-on-year, according to Nanjing Customs.

MIL OSI China News –

May 21, 2025
MIL-OSI Australia: Disposing of your business
Source: New places to play in Gungahlin

Selling a business
The sale of a business generally occurs through the disposal of either:
- the shares or other ownership interests in the entity that conducts the business
- all of the tangible and intangible assets in the business.
When preparing to dispose of your business, we encourage you to consider your tax governance for the transaction and the tax consequences.

For more information, see:

Record keeping

Both the vendor and purchaser need to retain documentation evidencing the transactions, including:
- contracts
- minutes of meetings recording why the business was to be sold and decisions relating to the transaction by the directors and other key decision makers
- communications between the vendor and purchaser relating to the negotiations, including any allowance for liabilities
- details of the assets disposed of under the contract, the apportionment of the purchase price to the various assets and the basis for the apportionment
- capital gains tax (CGT) calculations, including the
  
  allocation of purchase price to depreciating assets
  
  basis for this allocation
  
  treatment of consideration held in escrow
- any advice detailing why the particular tax position has been taken
- settlement documentation
- asset registers
- trust resolutions creating income or capital entitlements of beneficiaries.
Revenue or capital transaction

Where you dispose of an asset, you need to determine whether it should be treated as a revenue or capital transaction.

You can find relevant information and views in documentation, such as minutes of meetings, business plans, documented discussions with stakeholders and consultants and financial statements.

Disposing of a business to a related party

Where you dispose of the business to a related party, you should get an independent valuation of the business, including the goodwill, assets and contractual rights being disposed of.

Interest expense

There may be an impact on the interest expense that can be deducted if the disposal of an ownership interest in a business results in a change to the entity’s debt to equity ratio. You may need to recalculate this at the relevant time.
Disposing of part of a business
You may partially dispose of your business by:
- creating a new class of shareholders or unit holders, or by amending rights for existing share classes
- disposing of a portion of shares
- retiring from a partnership
- admitting a new partner into your partnership.
As a result of the above changes, you may need to amend key documents such as the company’s constitution, trust deed, or partnership agreement.

The rights of the existing shareholders or unitholders may also be affected. Where this occurs, the existing shareholders, unitholders and partners should consider any tax consequences, such as capital gains, value shifting and limitations on future deductions or capital losses.
More complex business disposals

More complex or non-traditional business disposals often give rise to a range of tax issues and require risk mitigation. Good tax governance will ensure that you identify, assess and manage these issues.

You should carefully consider and document transactions and the commercial business drivers.

Some of the more complex business disposals that may require additional tax governance include:
- share buy-backs and capital reductions
- business restructuring
- listing on a stock exchange
- exit from a consolidated group
- the use of a demerger to facilitate the disposal of the business
- multiple events and transactions that occur just before or on the date of the business disposal.
We encourage you to seek advice from a tax adviser if you are unsure of the tax consequences.

You may also wish to engage with us for advice directly before entering the transaction. We can help reduce uncertainty by clarifying how the tax law relates to your particular circumstances.

Earn-out arrangements

The disposal of a business that includes an earn-out arrangement can take several forms. Good governance practices include:
- retaining the sale contract and other relevant agreements
- considering changes in the law examining the terms of the earn-out arrangement and identifying the contingent and non-contingent rights
- considering if there is a reverse earn-out arrangement
- estimating the value of the earn-out right and retaining documentation to support the estimate
- getting tax advice and preparing the capital gains tax calculations for the income year in which the disposal occurred
- comparing the amounts actually received under the earn-out clauses to the amount estimated.
Scrip-for-scrip rollovers

When you have a CGT event that results in a capital gain, a rollover may be applied, for example, a scrip-for-scrip rollover. Generally, this occurs where a seller exchanges a share in a company (or trust interest in a trust) for a share in another company (or trust interest in another trust).

Effective governance involves retaining key documentation to provide you with certainty. It should be readily accessible if we review the transaction.

Key documentation to retain may include:
- minutes of meetings or other documentation recording proposals, deliberations and negotiations prior to entering into the transaction
- minutes of decisions to proceed with the transaction and executed contract documents
- evidence of the interests exchanged (such as share certificates or unit registers)
- details of the CGT profile of interests, such as cost base and any pre-CGT status
- valuations
- other workings, papers or advice setting out the conditions and how they have been satisfied.
Listing on a stock exchange

Where a business owner is looking to dispose of the shares in a business via listing on a stock exchange through an initial public offering (IPO), back-door listing or reverse take-over, good tax governance practices may include:
- considering the Australian Securities Exchange (ASX) and Australian Securities and Investments Commission requirements and their tax consequences
- getting advice on the CGT treatment of any disposal of shares held by the existing shareholders
- documenting the transactions and tax impacts, including considering whether the CGT discount and a full or partial CGT rollover apply
- considering how any additional amounts to which the existing shareholders are entitled after the event (such as additional shares or earn-out amounts) will be treated for tax purposes.
A back-door listing generally involves the disposal of an entity’s shares or assets to a company that is currently listed on the ASX. Interests sold between related parties through back-door listings should be subject to independent market valuations.

Exit from a consolidated group

Where a consolidated group disposes of a partial or the full interest in a subsidiary member, resulting in it leaving the group, effective governance practices include:
- retaining the sale contract and agreements
- preparing a statement of financial position in accordance with accounting standards as at the date of exit
- ensuring that the assets and liabilities appearing on the statement of financial position reflect market values
- undertaking allocable cost amount exit calculations
- calculating the capital gain or loss resulting from the disposal of the interest in the subsidiary member
- getting a valuation to determine the subsidiary’s market value where the purchaser is a related party
- notifying us of any changes to membership.
For more information, see Consolidation.

MIL OSI News –
May 21, 2025
MIL-OSI USA: Virginia man charged with conspiracy in smuggling of Honduran unaccompanied alien child following ICE Las Cruces, federal partner investigation

Source: US Immigration and Customs Enforcement

ALBUQUERQUE, N.M.- A Virginia man has been charged with conspiracy to transport an illegal alien after he arranged and paid for the smuggling of a 17-year-old Honduran unaccompanied alien child into the United States. The investigation was conducted by U.S. Immigration and Customs Enforcement in collaboration with federal and state partners.

Luis Alonso Argueta-Diaz, 35, was arrested May 19 in Virginia without incident.

According to court documents, on May 3, U.S. Border Patrol agents apprehended a 17-year-old unaccompanied alien minor from Honduras near Santa Teresa, New Mexico, after she unlawfully entered the United States. The investigation revealed that Argueta-Diaz, had arranged and partially paid for the minor’s smuggling into the country. When questioned by ICE Homeland Security Investigations, Argueta-Diaz admitted to coordinating and financing the minor’s journey with the intent for her to live with him and assist in caring for his children.

Argueta-Diaz is charged with conspiracy to transport an illegal alien and will remain in local custody pending trial. No date for the trial has been set. If convicted, he faces up to 10 years in prison.

The U.S. Attorney’s Office for the District of New Mexico is prosecuting the case.

This criminality – carried out by individuals, businesses, and transnational criminal organizations – is not only a threat to the unaccompanied alien children themselves, but also to the broader communities in which they live and to the public safety and national security of the United States. Individuals across the world can report suspicious criminal activity to the ICE Tip Line 24 hours a day, seven days a week at 866-DHS-2-ICE. Highly trained specialists take reports from both the public and law enforcement agencies on more than 400 laws enforced by ICE.

A criminal complaint 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 –

May 21, 2025
MIL-OSI USA: ICE San Antonio announces 275 illegal alien arrests during joint operation
Source: US Immigration and Customs Enforcement

SAN ANTONIO — U.S. Immigration and Customs Enforcement arrested 275 illegal aliens, including 178 criminal aliens, during a seven-day operation focused on increasing public safety May 11-17.

“Criminal aliens have taken advantage of our immigration laws for long enough. We will continue to prioritize public safety,” said ICE Enforcement and Removal Operations San Antonio acting Field Office Director Sylvester M. Ortega. “Our mission to protect the American people is stronger than ever thanks to the hard work and dedication of ICE personnel out every day locating, arresting and removing criminal aliens illegally present in our country.”

Included among the criminal aliens arrested during the operation are the following:
- A 34-year-old, twice-deported criminal alien from Mexico, arrested May 14 who has been convicted of felony — illegal reentry, and is facing charges for a second criminal charge for illegal reentry into the U.S. after deportation.
- A 37-year-old criminal alien from Cuba, arrested May 15 who has been convicted of manufacturing and distributing heroin/methamphetamines and selling marijuana. This alien has also been arrested for forgery and drug possession.
- A 49-year-old, twice-deported criminal alien from Mexico arrested May 15 who has been convicted of assault and battery, illegal reentry into the U.S., and disturbing the peace.
- A 57-year-old alien from Costa Rica arrested May 16 who is wanted by Costa Rican authorities for fraud.
Criminal aliens arrested during this operation also had charges that included domestic violence, cocaine possession, larceny, driving under the influence, drug trafficking, weapon offenses, and assault.

Numerous law enforcement agencies assisted ICE during the operation, including the Texas Department of Public Safety, Drug Enforcement Administration, Bureau of Alcohol Tobacco Firearms and Explosives, Federal Bureau of Investigations, U.S. Border Patrol and the U.S. Marshals Service.

“These joint operations show the public what can be done when agencies work together toward a common goal of public safety,” added Ortega.

Members of the public can report crime and suspicious activity by calling 866-347-2423 or completing the online tip form. Follow us on X at @EROSanAntonio to learn more about ERO’s missions and operations.

MIL OSI USA News –
May 21, 2025
MIL-OSI USA: ICE, law enforcement partners, arrest 13 Armenian rival members, associates of organized crime syndicates for alleged attempted murder, kidnapping and tens of millions in theft

Source: US Immigration and Customs Enforcement

LOS ANGELES – U.S. Immigration and Customs Enforcement and law enforcement partners in California and Florida, arrested 13 alleged members and associates of Armenian organized crime syndicates May 20. Those arrested are charged in five federal complaints with a series of crimes, including attempted murder, kidnapping, illegal firearm possession and thefts estimated to be in millions of dollars related to online retailer shipments.

“This transnational criminal organization operated with the structure and brutality of an international cartel, inflicting significant harm on public safety and causing substantial damage to legitimate commerce and supply chains,” said ICE Homeland Security Investigations Los Angeles acting Deputy Special Agent in Charge Dwayne Angebrandt.

Among the defendants charged are Ara Artuni, 41, of Porter Ranch, California who is charged with attempted murder in aid of racketeering, and a rival, Robert Amiryan, 46, of Hollywood, California who is charged with kidnapping.

The defendants arrested in California are expected to make their initial appearances this afternoon and tomorrow afternoon in United States District Court in downtown Los Angeles.

Vahan Harutyunyan, 50, of Hollywood, Florida, made his initial appearance earlier today in Fort Lauderdale, Florida and was ordered detained. Two of the remaining defendants, Levon Arakelyan, 45, of Las Vegas, Nevada and Ivan Bojorquez, 33, of Gardena, California are presently detained in state custody on unrelated matters.

Law enforcement seized approximately $100,000 in cash, three armored vehicles, and 14 firearms during the operation.

According to affidavits filed with the criminal complaints, Armenian Organized Crime, a Russian mafia-affiliated transnational criminal organization, has made Los Angeles County a center of U.S. operations. Since 2022, two local leaders within the organization, also known as avtoritet, which in Russian means “authority,” allegedly have engaged in a power struggle for control in their territory, resulting in multiple murder attempts and a kidnapping.

Artuni, an avtoritet, is charged with ordering the attempted murder of Amiryan during the summer of 2023. In retaliation, Amiryan, also an avtoritet, allegedly conspired with members of his own criminal organization to kidnap and torture one of Artuni’s associates in June 2023.

In addition to attempted murder, Artuni and his criminal enterprise has, since at least 2021, allegedly committed additional crimes, including bank fraud, wire fraud, and “cargo theft” targeting online retailers such as Amazon.com Inc. Artuni Enterprise members and associates enrolled with Amazon as carriers, contracted for trucking routes, and then, while transporting the goods, diverged from the route and stole all or part of the shipment. To date, the Artuni Enterprise has allegedly stolen goods from Amazon worth more than $83 million, according to estimates provided by Amazon.

The Artuni Enterprise also ran a “credit card bust-out” scheme in which they charged various credit cards to a sham business, then drained the business account before the credit card companies could collect the to-be disputed funds.

“Today’s arrests reflect that my office and our law enforcement partners are committed to keeping America safe by dismantling transnational criminal organizations,” said United States Attorney Bill Essayli. “Let today’s enforcement action be a warning to criminals: Our communities are not your playground to engage in violence and thuggery.”

“Investigators from the Burbank Police Department spent hundreds of hours investigating these heinous violent crimes,” said Burbank Police Chief Rafael Quintero. “The Burbank Police Department is grateful for the assistance from its law enforcement partners and the United States Attorney’s Office for their work in holding these individuals accountable for their actions.”

“Dismantling transnational criminal organizations is at the core of HSI’s mission,” continued Angebrandt. “Through close collaboration with our law enforcement partners, HSI is holding these perpetrators accountable and disrupting their criminal enterprise at every level.”

A complaint contains allegations that a defendant has committed a crime. Every defendant is presumed to be innocent until and unless proven guilty beyond a reasonable doubt in court.

If convicted of all charges, the defendants will face statutory maximum sentences ranging from 10 years in federal prison to life imprisonment.

Homeland Security Investigations; The Los Angeles Police Department Major Crimes Division – Transnational Organized Crime Section; the Burbank Police Department; Northridge and Ventura offices; the United States Department of Health and Human Services Office of Inspector General; IRS Criminal Investigation; and the Bureau of Alcohol, Tobacco, Firearms and Explosives are investigating this matter.

Assistant United States Attorneys Lyndsi Allsop and Kenneth R. Carbajal of the Violent and Organized Crime Section and Tara B. Vavere of the Asset Forfeiture and Recovery Section are prosecuting this case. The Department of Justice Criminal Division’s Violent Crime and Racketeering Section provided substantial assistance.

Individuals across the world can report suspicious criminal activity to the ICE Tip Line 24 hours a day, seven days a week at 866-DHS-2-ICE. Highly trained specialists take reports from both the public and law enforcement agencies on more than 400 laws enforced by ICE.

MIL OSI USA News –

May 21, 2025
MIL-OSI USA: ICE Atlanta worksite enforcement operation results in illegal alien arrests, 2 unaccompanied minors found

Source: US Immigration and Customs Enforcement

MOBILE, Ala. – U.S. Immigration and Customs Enforcement found two unaccompanied minors and five adult illegal aliens during a worksite enforcement operation at a subdivision in Theodore May 15.

ICE Homeland Security Investigations special agents found that the minors, both from Guatemala, had entered the United States in 2023 as unaccompanied children. Border Patrol transferred both UACs to the custody of the U.S. Department of Health and Human Services’ Office of Refugee Resettlement.

At the worksite enforcement encounter, it was discovered that neither UAC was enrolled in school nor had any relatives in the area. ICE referred the two UACs to the custody of the U.S. Department of Health and Human Services’ Office of Refugee Resettlement.

The five adult illegal aliens encountered during the operation were citizens and nationals of Guatemala and Mexico, one of the adults has two previous removals from the United States. All five illegal alien adults are in ICE Enforcement and Removal Operations custody pending immigration proceeds and removals.

For more news and information on ICE’s efforts to enforce our nation’s immigration laws and bolster public safety, national security and border security, follow us on X at @HSIAtlanta and @EROAtlanta.

Members of the public can report crimes and suspicious activity by dialing 866-DHS-2-ICE (866-347-2423) or completing the online tip form.

MIL OSI USA News –

May 21, 2025
MIL-OSI USA: Unicoin, Top Executives Charged in Offering Fraud That Raised More than $100 Million from Thousands of Investors
Source: Securities and Exchange Commission

The Securities and Exchange Commission today charged New York City-based Unicoin, Inc. and three of its top executives—CEO and Board Chairman Alex Konanykhin; Silvina Moschini, former president, former board chairwoman, and current board member; and former Chief Investment Officer Alex Dominguez—for false and misleading statements in an offering of certificates that purportedly conveyed rights to receive crypto assets called Unicoin tokens and an offering of Unicoin, Inc.’s common stock.

“We allege that Unicoin and its executives exploited thousands of investors with fictitious promises that its tokens, when issued, would be backed by real-world assets including an international portfolio of valuable real estate holdings,” said Mark Cave, Associate Director in the SEC’s Division of Enforcement. “But as we allege, the real estate assets were worth a mere fraction of what the company claimed, and the majority of the company’s sales of rights certificates were illusory. Unicoin’s most senior executives are alleged to have perpetuated the fraud, and today’s action seeks accountability for their conduct.”

The SEC alleges that Unicoin broadly marketed rights certificates to the public through extensive promotional efforts, including advertisements in major airports, on thousands of New York City taxis, and on television and social media. Among other things, Unicoin and its executives are alleged to have convinced more than 5,000 investors to purchase rights certificates through false and misleading statements that portrayed them as investments in safe, stable, and profitable “next generation” crypto assets, including claims that:
- Unicoin tokens underlying the rights certificates were “asset-backed” by billions of dollars of real estate and equity interests in pre-IPO companies, when Unicoin’s assets were never worth more than a small fraction of that amount;
- the company had sold more than $3 billion in rights certificates, when it raised no more than $110 million; and
- the rights certificates and Unicoin tokens were “SEC-registered” or “U.S. registered” when they were not.
According to the SEC’s complaint, Unicoin and Konanykhin also violated the federal securities laws by engaging in unregistered offers and sales of rights certificates. Konanykhin offered and sold over 37.9 million of his rights certificates to offer better pricing and target investors the company had prohibited from participating in the offering to avoid jeopardizing its exemption to registration requirements, as alleged.

The SEC’s complaint, filed in the U.S. District Court for the Southern District of New York, charges Unicoin, Konanykhin, Moschini, and Dominguez with violations of the antifraud provisions of the federal securities laws, Konanykhin and Unicoin with violating the registration provisions of the Securities Act of 1933, and Konanykhin as a control person for certain of Unicoin’s antifraud violations. The complaint seeks permanent injunctive relief, disgorgement of ill-gotten gains with prejudgment interest, and civil penalties against Unicoin, Konanykhin, Moschini, and Dominguez, as well as officer-and-director bars against Konanykhin, Moschini, and Dominguez.

The complaint also charges Unicoin’s general counsel, Richard Devlin, with violating the antifraud provisions of the federal securities laws by negligently making similar misstatements in private placement memoranda Unicoin used to offer and sell rights certificates and Unicoin common stock. Without admitting or denying the SEC’s allegations, Devlin has consented to the entry of a final judgment providing permanent injunctive relief and ordering him to pay a $37,500 civil penalty.

The SEC’s investigation was conducted by Adam B. Gottlieb, Jason Schall, and Joss Berteaud and was supervised by W. Bradley Ney and Mr. Cave. The litigation will be led by Russell Feldman and Mr. Gottlieb and supervised by Jack Kaufman.

MIL OSI USA News –
May 21, 2025
MIL-OSI Economics: African Development Bank, DEG to deepen partnership in private sector development in Africa

Source: African Development Bank Group
The African Development Bank Group and Deutsche Investitions- und Entwicklungsgesellschaft (DEG), the Development Finance Institution that is a subsidiary of KfW, have reinforced their strategic partnership to enhance private sector development across Africa.
Officials from both institutions met in Abidjan, Cote d’Ivoire, on…

MIL OSI Economics –

May 21, 2025
MIL-OSI United Kingdom: Grangemouth workers receive ‘training guarantee’
Source: United Kingdom – Executive Government & Departments

Press release

Grangemouth workers receive ‘training guarantee’

Grangemouth workers receive ‘training guarantee’ to benefit from clean energy jobs.
Over 260 workers have received 1:1 skills support from Forth Valley College to support their transition into new, high-skilled jobs, with 184 workers already beginning training

signals swift delivery of the Prime Minister’s commitment to a ‘training guarantee’ to secure a future for workers, as part of the Plan for Change

Energy Secretary and Energy Minister join Scottish Cabinet Secretary for Net Zero and Energy in first Grangemouth Investment Taskforce meeting today to discuss securing private investment and a long-term future for Grangemouth – backed by £200 million from the UK government, and £25 million from the Scottish Government

Petroineos refinery workers at Grangemouth are being actively supported through the Prime Minister’s commitment to a ‘training guarantee’ to help secure new well-paid work, as part of the UK and Scottish Governments’ pledge to secure a future for those affected by the closure of the oil refinery.

The government took swift action to protect workers after Petroineos confirmed their plans to close the refinery, including announcing up to £10 million to provide new skills support that will help the site’s workers into good clean energy jobs, as well as supporting new energy projects in the region. This also included a commitment from the Prime Minister in February to deliver a “training guarantee”.

This guarantee is now being delivered, with 184 out of 300 workers having now engaged in retraining activity with the majority of the remaining workforce registered for training.

Workers have been offered a wide range of training opportunities, including renewable energy upskilling courses and wind turbine engineering courses, paid for and supported by the UK and Scottish Governments. This will provide them with the vital skills needed to secure new jobs, including in the clean energy sector – which currently supports more than 42,000 jobs in Scotland.

Every Petroineos worker affected by the decision to close the oil refinery has now been provided the opportunity for 1:1 interviews with careers specialists at Forth Valley College.

These will help identify their skills, qualifications and training needs to create a programme of bespoke courses that will ensure their smooth transition into new roles – supporting the next generation of good jobs and driving economic growth as part of the government’s Plan for Change.

It comes as the Energy Secretary Ed Miliband, Scottish Cabinet Secretary for Net Zero and Energy Gillian Martin and Energy Minister Michael Shanks join the Office for Investment, Scottish Enterprise, National Wealth Fund and Scottish National Investment Bank for the inaugural Grangemouth Investment Taskforce meeting today where they will discuss securing private investment in the future of the site – with 66 enquiries received so far.

Minister for Energy Michael Shanks said:

The workforce at Grangemouth is highly skilled with significant transferrable experience which our training commitment recognises by providing tailored support for workers into new employment opportunities.

As well as continuing to work to secure the site’s long-term industrial future, we want to ensure no worker is left behind and that they are equipped with the skills they need to secure good jobs. This is our Plan for Change in action.

Acting Cabinet Secretary for Net Zero and Energy Gillian Martin said:

The Scottish Government’s immediate focus has rightly been on supporting workers who have lost their jobs. We committed up to £450,000 to ensure that they are supported and assisted to secure other employment and to contribute their valuable skills to Scotland’s green economy.

That is why we are also working to secure Grangemouth’s role in that future and create an investible industrial strategy for the site. It’s clear that real progress is being made on the findings from Project Willow. We are working closely with Scottish Enterprise – who are already assessing nearly 70 inquiries aligned to the full range of technologies set out in the report – and we are determined to ensure we realise the full potential for the site’s transformation.

Scottish Secretary Ian Murray said:

We know this is a worrying time for workers and their families at Grangemouth. I am pleased more than 260 highly skilled workers have already received support from Forth Valley College thanks to funding from the UK government as part of the £100 million Falkirk and Grangemouth Growth Deal package.

By offering bespoke training in renewable energy and wind turbine engineering, we’re not just supporting individual workers but also helping Scotland lead the way in clean energy jobs. We are determined that Grangemouth will have a green energy future and have committed £200 million through the National Wealth Fund toward that.

Kenny MacInnes, Principal of Forth Valley College, said:

The College continues to work extremely hard to make sure that all the Petroineos employees affected by the refinery closure, are able to access the support they need as they begin their transition into new training, careers and jobs.

We are making learning work in our Forth Valley communities and beyond, and we want to assure everyone that we will continue to be there for them as they take the next steps in their careers and their studies.

Steven Bell, former Hazardous Areas Technician at Petroineos Grangemouth Refinery, said:

The support I received from Forth Valley College with retraining during the redundancy process has been exceptional.

From my 1:1 meetings discussing courses that I would be interested in and what my future career path might be, right through to getting booked onto the courses I had selected, nothing was too much trouble.

All in all, I can say I am absolutely delighted with what Forth Valley College have provided for me during this process.

The training support has helped workers enter new employment. For example, former Hazardous Areas Technician Steven Bell took part in a range of courses that enabled him to renew his Electricians Grade Card, as well as courses in working in hazardous areas which will support him in his new role as a Compliance Supervisor with a company involved in the pharmaceutical and distillery sector.

It follows the publication of a feasibility report ‘Project Willow’ that provided nine proposals for Grangemouth, backed by £200 million from the UK government and £25 million from the Scottish Government, which will support jobs, unlock investment and drive growth.

The report sets out various options for the site, including plastics recycling, hydrogen production and other projects that could create up to 800 jobs by 2040. This will help to grow the economy and deliver on both governments’ shared ambition to secure a long-term future for Grangemouth – with Scottish Enterprise already receiving a high level of interest from potential investors.

The UK government is unlocking Scotland’s clean energy potential and recently awarded £55.7 million to the Port of Cromarty Firth to develop and manufacture new floating offshore wind farms in Scotland. It has also launched a Skills Passport to support oil and gas workers to identify routes into several roles in offshore wind including construction and maintenance.

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Published 21 May 2025
MIL OSI United Kingdom –
May 21, 2025
MIL-OSI Security: San Jose Executives Plead Guilty To Employment Tax Crimes

Source: Office of United States Attorneys

SAN JOSE — Two California men pleaded guilty yesterday to not paying over employment taxes to the IRS.

The following is according to court documents and statements made in court: Lalo Valdez and Matthew Olson, both of Northern California, operated a San Jose-based health informatics and product development company that provided clinical care and technology services to clients in healthcare and academia. Valdez was the CEO and Olson the CFO. As such, both were responsible for the company’s operations, managed its internal books and records, signed checks on behalf of the company, and hired and fired employees. Both men also were responsible for withholding Social Security, Medicare, and federal income taxes from employees’ wages and paying those funds over to the government each quarter. The timely payment of quarterly employment taxes is critical to the functioning of the U.S. government, because, for example, they are the primary source of funding for Social Security and Medicare. The federal income taxes that are withheld from employees’ wages also account for a significant portion of all federal income taxes collected each year.

For every calendar quarter from the first quarter of 2017 through the second quarter of 2021, Valdez and Olson withheld these taxes from employees’ wages but did not pay them over to the IRS or report them on quarterly tax forms. Instead of paying over the taxes, Valdez and Olson used the company’s money to pay for country club memberships and season tickets to the San Jose Sharks of the National Hockey League.

During this same period, Olson also was one of the owners and operators of a day spa located in Saratoga, Calif. There, Olson was responsible for collecting and paying Social Security, Medicare, and income taxes to the IRS. From the second quarter of 2017 through the fourth quarter of 2020, however, Olson collected but did not pay them over to the IRS or report them on quarterly tax forms.

In total, Olson caused a tax loss to the IRS exceeding $2.1 million.

Valdez caused a total tax loss to the IRS of nearly $1.5 million.

Valdez and Olson are scheduled to be sentenced on Oct. 20. Both men face a maximum penalty of five years in prison as well as 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 U.S. Attorney Patrick D. Robbins, Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division, and IRS Criminal Investigation Special Agent in Charge of the Oakland Field Office Linda Nguyen made the announcement.

IRS Criminal Investigation is investigating the case.

Assistant U.S. Attorney Kristina Green and Trial Attorney Mahana Weidler of the Tax Division are prosecuting the case.

MIL Security OSI –

May 21, 2025

MIL-OSI: Purpose Investments Inc. Announces May 2025 Distributions

Source: GlobeNewswire (MIL-OSI)

TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) is pleased to announce distributions for the month of May 2025 for its open-end exchange traded funds and closed-end funds (“the Funds”).

The ex-distribution date for all Open-End Funds is May 28, 2025. The ex-distribution date for all closed-end funds is May 30, 2025.

Open-End Funds	Ticker Symbol	Distribution per share/unit	Record Date	Payable Date	Distribution Frequency
Apple (AAPL) Yield Shares Purpose ETF – ETF Units	APLY	$0.1667	05/28/2025	06/03/2025	Monthly
Purpose Canadian Financial Income Fund – ETF Series	BNC	$0.1225¹	05/28/2025	06/03/2025	Monthly
Berkshire Hathaway (BRK) Yield Shares Purpose ETF – ETF Units	BRKY	$0.1000	05/28/2025	06/03/2025	Monthly
Purpose Bitcoin Yield ETF – ETF Units	BTCY	$0.0850	05/28/2025	06/03/2025	Monthly
Purpose Bitcoin Yield ETF – ETF Non-Currency Hedged Units	BTCY.B	$0.0970	05/28/2025	06/03/2025	Monthly
Purpose Bitcoin Yield ETF – ETF USD Units	BTCY.U	US $0.0815	05/28/2025	06/03/2025	Monthly
Purpose Credit Opportunities Fund – ETF Units	CROP	$0.0875	05/28/2025	06/03/2025	Monthly
Purpose Credit Opportunities Fund – ETF USD Units	CROP.U	US $0.0975	05/28/2025	06/03/2025	Monthly
Purpose Ether Yield – ETF Units	ETHY	$0.0405	05/28/2025	06/03/2025	Monthly
Purpose Ether Yield ETF – ETF Non-Currency Hedged Units	ETHY.B	$0.0500	05/28/2025	06/03/2025	Monthly
Purpose Ether Yield ETF – ETF Units Non-Currency Hedged USD Units	ETHY.U	US $0.0395	05/28/2025	06/03/2025	Monthly
Purpose Global Flexible Credit Fund – ETF Units	FLX	$0.0461	05/28/2025	06/03/2025	Monthly
Purpose Global Flexible Credit Fund – Non-Currency Hedged – ETF Units	FLX.B	$0.0551	05/28/2025	06/03/2025	Monthly
Purpose Global Flexible Credit Fund – Non-Currency Hedged USD – ETF Units	FLX.U	US $0.0385	05/28/2025	06/03/2025	Monthly
Purpose Global Bond Class – ETF Units	IGB	$0.0860¹	05/28/2025	06/03/2025	Monthly
Microsoft (MSFT) Yield Shares Purpose ETF – ETF units	MSFY	$0.1100	05/28/2025	06/03/2025	Monthly
Purpose Enhanced Premium Yield Fund – ETF Series	PAYF	$0.1375¹	05/28/2025	06/03/2025	Monthly
Purpose Total Return Bond Fund – ETF Series	PBD	$0.0590¹	05/28/2025	06/03/2025	Monthly
Purpose Core Dividend Fund – ETF Series	PDF	$0.1050¹	05/28/2025	06/03/2025	Monthly
Purpose Enhanced Dividend Fund – ETF Series	PDIV	$0.0950¹	05/28/2025	06/03/2025	Monthly
Purpose Real Estate Income Fund – ETF Series	PHR	$0.0720¹	05/28/2025	06/03/2025	Monthly
Purpose International Dividend Fund – ETF Series	PID	$0.0780	05/28/2025	06/03/2025	Monthly
Purpose Monthly Income Fund – ETF Series	PIN	$0.0830¹	05/28/2025	06/03/2025	Monthly
Purpose Multi-Asset Income Fund – ETF Units	PINC	$0.0840	05/28/2025	06/03/2025	Monthly
Purpose Conservative Income Fund – ETF Series	PRP	$0.0600¹	05/28/2025	06/03/2025	Monthly
Purpose Premium Yield Fund – ETF Series	PYF	$0.1100¹	05/28/2025	06/03/2025	Monthly
Purpose Premium Yield Fund Non-Currency Hedged – ETF Series	PYF.B	$0.1230¹	05/28/2025	06/03/2025	Monthly
Purpose Premium Yield Fund Non-Currency Hedged – ETF USD Series	PYF.U	US $0.1200¹	05/28/2025	06/03/2025	Monthly
Purpose Core Equity Income Fund – ETF Series	RDE	$0.0875¹	05/28/2025	06/03/2025	Monthly
Purpose Emerging Markets Dividend Fund – ETF Units	REM	$0.0950	05/28/2025	06/03/2025	Monthly
Purpose Canadian Preferred Share Fund – ETF Units	RPS	$0.0950	05/28/2025	06/03/2025	Monthly
Purpose US Preferred Share Fund – ETF Series	RPU	$0.0940	05/28/2025	06/03/2025	Monthly
Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units²	RPU.B / RPU.U	$0.0940	05/28/2025	06/03/2025	Monthly
Purpose Strategic Yield Fund – ETF Units	SYLD	$0.0970	05/28/2025	06/03/2025	Monthly
AMD (AMD) Yield Shares Purpose ETF – ETF Series	YAMD	$0.2000	05/28/2025	06/03/2025	Monthly
Amazon (AMZN) Yield Shares Purpose ETF- ETF Units	YAMZ	$0.4000	05/28/2025	06/03/2025	Monthly
Broadcom (AVGO) Yield Shares Purpose ETF – ETF Series	YAVG	$0.1500	05/28/2025	06/03/2025	Monthly
Coinbase (COIN) Yield Shares Purpose ETF – ETF Series	YCON	$0.3000	05/28/2025	06/03/2025	Monthly
Costco (COST) Yield Shares Purpose ETF – ETF Series	YCST	$0.1000	05/28/2025	06/03/2025	Monthly
Alphabet (GOOGL) Yield Shares Purpose ETF – ETF Units	YGOG	$0.2500	05/28/2025	06/03/2025	Monthly
Tech Innovators Yield Shares Purpose ETF – ETF Series	YMAG	$0.2000	05/28/2025	06/03/2025	Monthly
META (META) Yield Shares Purpose ETF – ETF Series	YMET	$0.1600	05/28/2025	06/03/2025	Monthly
Netflix (NFLX) Yield Shares Purpose ETF – ETF Series	YNET	$0.1100	05/28/2025	06/03/2025	Monthly
NVIDIA (NVDA) Yield Shares Purpose ETF – ETF Units	YNVD	$0.7500	05/28/2025	06/03/2025	Monthly
Palantir (PLTR) Yield Shares Purpose ETF – ETF Series	YPLT	$0.2500	05/28/2025	06/03/2025	Monthly
Tesla (TSLA) Yield Shares Purpose ETF – ETF Units	YTSL	$0.5500	05/28/2025	06/03/2025	Monthly
UnitedHealth Group (UHN) Yield Shares Purpose ETF – ETF Series	YUNH	$0.1100	05/28/2025	06/03/2025	Monthly

Closed-End Funds	Ticker Symbol	Distribution per share/unit	Record Date	Payable Date	Distribution Frequency
Big Banc Split Corp, Class A	BNK	$0.1200¹	05/30/2025	06/13/2025	Monthly
Big Banc Split Corp – Preferred Shares	BNK.PR.A	$0.0700¹	05/30/2025	06/13/2025	Monthly

Estimated May 2025 Distributions for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund

The May 2025 distribution rates for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund are estimated to be as follows:

Open-End Fund	Ticker Symbol	Final distribution per unit	Record Date	Payable Date	Distribution Frequency
Purpose USD Cash Management Fund – ETF Units	MNU.U	US $ 0.3528	05/28/2025	06/03/2025	Monthly
Purpose Cash Management Fund – ETF Units	MNY	$0.2370	05/28/2025	06/03/2025	Monthly
Purpose High Interest Savings Fund – ETF Units	PSA	$0.1068	05/28/2025	06/03/2025	Monthly
Purpose US Cash Fund – ETF Units	PSU.U	US $ 0.3495	05/28/2025	06/03/2025	Monthly

Purpose expects to issue a press release on or about May 27, 2025, which will provide the final distribution rate for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund. The ex-distribution date will be May 28, 2025.

(1)	Dividend is designated as an “eligible” Canadian dividend for purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
(2)	Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units have both a CAD and USD purchase option. Distribution per unit is declared in CAD, however, the USD purchase option (RPU.U) distribution will be made in the USD equivalent. Conversion into USD will use the end-of-day foreign exchange rate prevailing on the ex-distribution date.

About Purpose Investments Inc.

Purpose Investments is an asset management company with more than $21 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

For further information please contact:
Keera Hart
Keera.Hart@kaiserpartners.com
905-580-1257

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

The MIL Network –

May 21, 2025

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