NewzIntel.com

Category: GlobeNewswire

  • MIL-OSI: Definitive Healthcare Announces Timing of Its First Quarter 2025 Financial Results Conference Call and Webcast

    Source: GlobeNewswire (MIL-OSI)

    FRAMINGHAM, Mass., April 24, 2025 (GLOBE NEWSWIRE) — Definitive Healthcare Corp. (“Definitive Healthcare”) (Nasdaq: DH), an industry leader in healthcare commercial intelligence, today announced that it will report financial results for its first quarter ended March 31, 2025, on Thursday, May 8, 2025 after market close. The company will host a conference call and webcast at 5:00 PM (ET) / 2:00 PM (PT) to discuss the company’s financial results.

    A live audio webcast of the event will be available on the Definitive Healthcare’s Investor Relations website at https://ir.definitivehc.com/.

    A live dial-in will be available at 877-358-7298 (domestic) or +1-848-488-9244 (international). Shortly after the conclusion of the call, a replay of this conference call will be available through June 7, 2025 at 800-645-7964 or 757-849-6722. The replay passcode is 1765#.

    About Definitive Healthcare
    At Definitive Healthcare, our mission is to transform data, analytics, and expertise into healthcare commercial intelligence. We help clients uncover the right markets, opportunities, and people, so they can shape tomorrow’s healthcare industry. Our SaaS products and solutions create new paths to commercial success in the healthcare market, so companies can identify where to go next. Learn more at definitivehc.com.

    Media Contact:
    Bethany Swackhamer
    bswackhamer@definitivehc.com

    Investor Relations Contact:
    Brian Denyeau
    ICR for Definitive Healthcare
    brian.denyeau@icrinc.com

    Source: Definitive Healthcare Corp.

    The MIL Network –

  • MIL-OSI: Fidus Investment Corporation Schedules First Quarter 2025 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    EVANSTON, Ill., April 24, 2025 (GLOBE NEWSWIRE) — Fidus Investment Corporation (NASDAQ: FDUS) (“Fidus” or the “Company”) today announced that it will report its first quarter 2025 financial results on Thursday, May 8, 2025 after the close of the financial markets.

    Management will host a conference call to discuss the operating and financial results at 9:00am ET on Friday, May 9, 2025. To participate in the conference call, please dial (844) 808-7136 approximately 10 minutes prior to the call. International callers should dial (412) 317-0534. Please ask to be joined into the Fidus Investment Corporation call.

    A live webcast of the conference call will be available at https://investor.fdus.com/news-events/events-presentations. Please access the website 15 minutes prior to the start of the call to download and install any necessary audio software.

    A webcast replay of the conference call will be available two hours after the call on the investor relations section of the Company’s website.

    ABOUT FIDUS INVESTMENT CORPORATION

    Fidus Investment Corporation provides customized debt and equity financing solutions to lower middle-market companies, which management generally defines as U.S. based companies with revenues between $10 million and $150 million. The Company’s investment objective is to provide attractive risk-adjusted returns by generating both current income from debt investments and capital appreciation from equity related investments. Fidus seeks to partner with business owners, management teams and financial sponsors by providing customized financing for change of ownership transactions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives.

    Fidus is an externally managed, closed-end, non-diversified management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940, as amended. In addition, for tax purposes, Fidus has elected to be treated as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. Fidus was formed in February 2011 to continue and expand the business of Fidus Mezzanine Capital, L.P., which commenced operations in May 2007 and is licensed by the U.S. Small Business Administration as a Small Business Investment Company (SBIC).

    FORWARD-LOOKING STATEMENTS

    This press release may contain certain forward-looking statements which are based upon current expectations and are inherently uncertain, including, but not limited to, statements about the future performance and financial condition of the Company, the prospects of our existing and prospective portfolio companies, the financial condition and ability of our existing and prospective portfolio companies to achieve their objectives, and the timing, form and amount of any distributions or supplemental dividends in the future. Any such statements, other than statements of historical fact, are likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under the Company’s control, and that the Company may or may not have considered, such as changes in the financial and lending markets and the impact of interest rate volatility, including the decommissioning of LIBOR and rising interest rates; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from these estimates and projections of the future as a result of a number of factors related to changes in the markets in which the Company invests, changes in the financial, capital, and lending markets, and other factors described from time to time in the Company’s filings with the Securities and Exchange Commission. Such statements speak only as of the time when made, and are based on information available to the Company as of the date hereof and are qualified in their entirety by this cautionary statement. The Company undertakes no obligation to update any such statement now or in the future, except as required by applicable law.

                     

    The MIL Network –

  • MIL-OSI: SPS Commerce Reports First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Company delivers 97th consecutive quarter of topline growth
    First quarter 2025 revenue grew 21% and recurring revenue grew 23% from the first quarter of 2024

    MINNEAPOLIS, April 24, 2025 (GLOBE NEWSWIRE) — SPS Commerce, Inc. (NASDAQ: SPSC), a leader in retail supply chain cloud services, today announced financial results for the first quarter ended March 31, 2025.

    Financial Highlights

    First Quarter 2025 Financial Highlights

    • Revenue was $181.5 million in the first quarter of 2025, compared to $149.6 million in the first quarter of 2024, reflecting 21% growth.
    • Recurring revenue grew 23% from the first quarter of 2024.
    • Net income was $22.2 million or $0.58 per diluted share, compared to net income of $18.0 million or $0.48 per diluted share in the first quarter of 2024.
    • Non-GAAP income per diluted share was $1.00, compared to non-GAAP income per diluted share of $0.86 in the first quarter of 2024.
    • Adjusted EBITDA for the first quarter of 2025 increased 22% to $54.4 million compared to the first quarter of 2024.
    • Share repurchases in the first quarter of 2025 totaled $40.0 million.

    “SPS Commerce operates a network of over 50,000 suppliers, logistics companies and buying organizations across retail, distribution, grocery, and manufacturing, and we are uniquely positioned to support all trading relationships,” said Chad Collins, CEO of SPS Commerce.  “With an $11 billion total addressable market, we have a tremendous opportunity to transform how trading partners work together as they continue to advance their supply chain technologies.” 

    “We delivered strong first-quarter performance, and the 97th consecutive quarter of revenue growth,” said Kim Nelson, CFO of SPS Commerce.  “Despite ongoing uncertainty in the macro environment, we remain confident in our full-year 2025 growth outlook and margin expansion profile, which underscores the resilience of our business model and the mission critical nature of our solutions, designed to improve collaboration across the global retail supply chain.”

    Guidance

    Second Quarter 2025 Guidance

    • Revenue is expected to be in the range of $184.5 million to $186.2 million, representing 20% to 21% year-over-year growth.  
    • Net income per diluted share is expected to be in the range of $0.41 to $0.44, with fully diluted weighted average shares outstanding of 38.8 million shares.
    • Non-GAAP income per diluted share is expected to be in the range of $0.87 to $0.90.
    • Adjusted EBITDA is expected to be in the range of $53.0 million to $54.5 million.
    • Non-cash, share-based compensation expense is expected to be $15.5 million, depreciation expense is expected to be $5.5 million, and amortization expense is expected to be $9.8 million.

    Fiscal Year 2025 Guidance

    • Revenue is expected to be in the range of $758.5 million to $763.0 million, representing 19% to 20% growth over 2024.
    • Net income per diluted share is expected to be in the range of $2.06 to $2.13, with fully diluted weighted average shares outstanding of 38.7 million shares.
    • Non-GAAP income per diluted share is expected to be in the range of $3.86 to $3.93.
    • Adjusted EBITDA is expected to be in the range of $229.4 million to $232.9 million, representing 23% to 25% growth over 2024.
    • Non-cash, share-based compensation expense is expected to be $61.4 million, depreciation expense is expected to be $23.0 million, and amortization expense is expected to be $38.0 million.

    The forward-looking measures and the underlying assumptions involve significant known and unknown risks and uncertainties, and actual results may vary materially. The Company does not present a reconciliation of the forward-looking non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA margin, and non-GAAP income per share, to the most directly comparable GAAP financial measures because it is impractical to forecast certain items without unreasonable efforts due to the uncertainty and inherent difficulty of predicting, within a reasonable range, the occurrence and financial impact of and the periods in which such items may be recognized.

    Quarterly Conference Call

    To access the call, please dial 1-833-816-1382, or outside the U.S. 1-412-317-0475 at least 15 minutes prior to the 3:30 p.m. CT start time. Please ask to join the SPS Commerce Q1 2025 conference call.  A live webcast of the call will also be available at http://investors.spscommerce.com under the Events and Presentations menu.  The replay will also be available on our website at http://investors.spscommerce.com.

    About SPS Commerce

    SPS Commerce is the world’s leading retail network, connecting trading partners around the globe to optimize supply chain operations for all retail partners. We support data-driven partnerships with innovative cloud technology, customer-obsessed service, and accessible experts so our customers can focus on what they do best. Over 50,000 recurring revenue customers in retail, grocery, distribution, supply, manufacturing, and logistics are using SPS as their retail network. SPS has achieved 97 consecutive quarters of revenue growth and is headquartered in Minneapolis. For additional information, contact SPS at 866-245-8100 or visit www.spscommerce.com.

    SPS COMMERCE, SPS, SPS logo and INFINITE RETAIL POWER are marks of SPS Commerce, Inc. and registered in the U.S. Patent and Trademark Office, along with other SPS marks. Such marks may also be registered or otherwise protected in other countries. 

    SPS-F

    Use of Non-GAAP Financial Measures

    To supplement our condensed consolidated financial statements, we provide investors with Adjusted EBITDA, Adjusted EBITDA Margin, and non-GAAP income per share, all of which are non-GAAP financial measures. We believe that these non-GAAP financial measures provide useful information to our management, Board of Directors, and investors regarding certain financial and business trends relating to our financial condition and results of operations.

    Our management uses these non-GAAP financial measures to compare our performance to that of prior periods for trend analyses and planning purposes. Adjusted EBITDA is also used for purposes of determining executive and senior management incentive compensation. We believe these non-GAAP financial measures are useful to an investor as they are widely used in evaluating operating performance. Adjusted EBITDA and Adjusted EBITDA Margin are used to measure operating performance without regard to items such as depreciation and amortization, which can vary depending upon accounting methods and the book value of assets, and to present a meaningful measure of corporate performance exclusive of capital structure and the method by which assets were acquired.

    These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP. These non-GAAP financial measures exclude significant expenses and income that are required by GAAP to be recorded in our condensed consolidated financial statements and are subject to inherent limitations. Investors should review the reconciliations of non-GAAP financial measures to the comparable GAAP financial measures that are included in this press release.

    Adjusted EBITDA Measures:

    Adjusted EBITDA consists of net income adjusted for income tax expense, depreciation and amortization expense, stock-based compensation expense, realized gain or loss from investments held and foreign currency impact on cash and investments, investment income, and other adjustments as necessary for a fair presentation. Other adjustments for the three months ended March 31, 2025 included the expense impacts from disposals of certain capitalized internally developed software and one-time acquisition-related insurance costs. Net income is the comparable GAAP measure of financial performance.

    Adjusted EBITDA Margin consists of Adjusted EBITDA divided by revenue. Margin, the comparable GAAP measure of financial performance, consists of net income divided by revenue.

    Non-GAAP Income Per Share Measure:

    Non-GAAP income per share consists of net income adjusted for stock-based compensation expense, amortization expense related to intangible assets, realized gain or loss from investments held and foreign currency impact on cash and investments, other adjustments as necessary for a fair presentation, including for the three months ended March 31, 2025 the expense impacts from disposals of certain capitalized internally developed software and one-time acquisition-related insurance costs, and the corresponding tax impacts of the adjustments to net income, divided by the weighted average number of shares of common and diluted stock outstanding during each period. Net income per share, the comparable GAAP measure of financial performance, consists of net income divided by the weighted average number of shares of common and diluted stock outstanding during each period. To quantify the tax effects, we recalculated income tax expense excluding the direct book and tax effects of the specific items constituting the non-GAAP adjustments. The difference between this recalculated income tax expense and GAAP income tax expense is presented as the income tax effect of the non-GAAP adjustments.

    Forward-Looking Statements

    This press release may contain forward-looking statements, including information about management’s view of SPS Commerce’s future expectations, plans and prospects, including our views regarding future execution within our business, the opportunity we see in the retail supply chain world and our performance for the second quarter and full year of 2025, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of SPS Commerce to be materially different than those expressed or implied in such statements. Certain of these risk factors and others are included in documents SPS Commerce files with the Securities and Exchange Commission, including but not limited to, SPS Commerce’s Annual Report on Form 10-K for the year ended December 31, 2024, as well as subsequent reports filed with the Securities and Exchange Commission. Other unknown or unpredictable factors also could have material adverse effects on SPS Commerce’s future results. The forward-looking statements included in this press release are made only as of the date hereof. SPS Commerce cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SPS Commerce expressly disclaims any intent or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

    SPS COMMERCE, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (In thousands, except shares)
     
      March 31,
    2025    		   December 31,
    2024
    ASSETS (unaudited)    
    Current assets      
    Cash and cash equivalents $ 94,921     $ 241,017  
    Accounts receivable   68,183       56,214  
    Allowance for credit losses   (4,793 )     (4,179 )
    Accounts receivable, net   63,390       52,035  
    Deferred costs   67,107       65,342  
    Other assets   26,417       23,513  
    Total current assets   251,835       381,907  
    Property and equipment, net   38,687       37,547  
    Operating lease right-of-use assets   8,424       8,192  
    Goodwill   533,940       399,180  
    Intangible assets, net   252,280       181,294  
    Other assets      
    Deferred costs, non-current   21,416       20,572  
    Deferred income tax assets   562       505  
    Other assets, non-current   1,906       2,033  
    Total assets $ 1,109,050     $ 1,031,230  
    LIABILITIES AND STOCKHOLDERS’ EQUITY      
    Current liabilities      
    Accounts payable $ 11,255     $ 8,577  
    Accrued compensation   40,747       47,160  
    Accrued expenses   16,640       12,108  
    Deferred revenue   78,620       74,256  
    Operating lease liabilities   6,162       4,583  
    Total current liabilities   153,424       146,684  
    Other liabilities      
    Deferred revenue, non-current   5,748       6,189  
    Operating lease liabilities, non-current   6,101       7,885  
    Deferred income tax liabilities   20,298       15,541  
    Other liabilities, non-current   2,558       241  
    Total liabilities   188,129       176,540  
    Commitments and contingencies      
    Stockholders’ equity      
    Common stock   40       40  
    Treasury stock   (102,096 )     (99,748 )
    Additional paid-in capital   672,138       627,982  
    Retained earnings   358,295       336,099  
    Accumulated other comprehensive loss   (7,456 )     (9,683 )
    Total stockholders’ equity   920,921       854,690  
         Total liabilities and stockholders’ equity $ 1,109,050     $ 1,031,230  
                   
    SPS COMMERCE, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited; in thousands, except per share amounts)
     
      Three Months Ended
    March 31,
       2025    2024
    Revenues $ 181,549   $ 149,576
    Cost of revenues   56,914     51,487
    Gross profit   124,635     98,089
    Operating expenses      
    Sales and marketing   41,634     36,432
    Research and development   17,439     16,009
    General and administrative   31,018     25,907
    Amortization of intangible assets   8,588     4,338
    Total operating expenses   98,679     82,686
    Income from operations   25,956     15,403
    Other income, net   2,207     3,132
    Income before income taxes   28,163     18,535
    Income tax expense   5,967     532
    Net income $ 22,196   $ 18,003
           
    Net income per share      
    Basic $ 0.58   $ 0.49
    Diluted $ 0.58   $ 0.48
           
    Weighted average common shares used to compute net income per share      
    Basic   37,990     37,049
    Diluted   38,163     37,686
               
    SPS COMMERCE, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited; in thousands)
     
      Three Months Ended
    March 31,
       2025     2024 
    Cash flows from operating activities      
    Net income $ 22,196     $ 18,003  
    Reconciliation of net income to net cash provided by operating activities      
    Deferred income taxes   (4,418 )     (7,070 )
    Depreciation and amortization of property and equipment   4,957       4,694  
    Amortization of intangible assets   8,588       4,338  
    Provision for credit losses   1,822       1,408  
    Stock-based compensation   13,867       20,018  
    Other, net   168       (431 )
    Changes in assets and liabilities, net of effects of acquisition      
    Accounts receivable   (7,443 )     (6,759 )
    Deferred costs   (1,247 )     (1,651 )
    Other assets and liabilities   1,174       3,030  
    Accounts payable   1,677       5,098  
    Accrued compensation   (7,948 )     (9,518 )
    Accrued expenses   3,868       (674 )
    Deferred revenue   3,160       4,129  
    Operating leases   (438 )     (551 )
    Net cash provided by operating activities   39,983       34,064  
    Cash flows from investing activities      
    Purchases of property and equipment   (6,150 )     (3,533 )
    Purchases of investments   —       (44,412 )
    Maturities of investments   —       45,000  
    Acquisition of business, net   (141,636 )     —  
    Net cash used in investing activities   (147,786 )     (2,945 )
    Cash flows from financing activities      
    Repurchases of common stock   (40,000 )     (16,540 )
    Net proceeds from exercise of options to purchase common stock   635       1,260  
    Net proceeds from employee stock purchase plan activity   411       391  
    Net cash used in financing activities   (38,954 )     (14,889 )
    Effect of foreign currency exchange rate changes   661       (674 )
    Net increase (decrease) in cash and cash equivalents   (146,096 )     15,556  
    Cash and cash equivalents at beginning of period   241,017       219,081  
    Cash and cash equivalents at end of period $ 94,921     $ 234,637  
                   
    SPS COMMERCE, INC.
    NON-GAAP RECONCILIATIONS
    (Unaudited; in thousands, except Margin, Adjusted EBITDA Margin, and per share amounts)
     
    Adjusted EBITDA
      Three Months Ended
    March 31,
      2025     2024
    Net income $ 22,196     $ 18,003  
    Income tax expense   5,967       532  
    Depreciation and amortization of property and equipment   4,957       4,694  
    Amortization of intangible assets   8,588       4,338  
    Stock-based compensation expense   13,867       20,018  
    Realized gain from investments held and foreign currency impact on cash and investments   (366 )     (304 )
    Investment income   (1,849 )     (2,879 )
    Other   1,013       —  
    Adjusted EBITDA $ 54,373     $ 44,402  
                   
    Adjusted EBITDA Margin
      Three Months Ended
    March 31,
      2025   2024
    Revenue $ 181,549     $ 149,576  
           
    Net income   22,196       18,003  
    Margin   12 %     12 %
           
    Adjusted EBITDA   54,373       44,402  
    Adjusted EBITDA Margin   30 %     30 %
                   
    Non-GAAP Income per Share
      Three Months Ended
    March 31,
      2025   2024
    Net income $ 22,196     $ 18,003  
    Stock-based compensation expense   13,867       20,018  
    Amortization of intangible assets   8,588       4,338  
    Realized gain from investments held and foreign currency impact on cash and investments   (366 )     (304 )
    Other   1,013       —  
    Income tax effects of adjustments   (7,285 )     (9,554 )
    Non-GAAP income $ 38,013     $ 32,501  
           
    Shares used to compute net income and non-GAAP income per share      
    Basic   37,990       37,049  
    Diluted   38,163       37,686  
           
    Net income per share, basic $ 0.58     $ 0.49  
    Non-GAAP adjustments to net income per share, basic   0.42       0.39  
    Non-GAAP income per share, basic $ 1.00     $ 0.88  
           
    Net income per share, diluted $ 0.58     $ 0.48  
    Non-GAAP adjustments to net income per share, diluted   0.42       0.38  
    Non-GAAP income per share, diluted $ 1.00     $ 0.86  
                   

    The annual per share amounts may not cross-sum due to rounding.

    Contact:
    Investor Relations
    The Blueshirt Group
    Irmina Blaszczyk & Lisa Laukkanen
    SPSC@blueshirtgroup.com
    415-217-4962

    The MIL Network –

  • MIL-OSI: AXIS Completes Previously Announced Transaction With Enstar

    Source: GlobeNewswire (MIL-OSI)

    PEMBROKE, Bermuda, April 24, 2025 (GLOBE NEWSWIRE) — AXIS Capital Holdings Limited (“AXIS Capital” or “AXIS” or the “Company”) (NYSE: AXS) and Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) announced today that they have completed a loss portfolio transfer (“LPT”) transaction, covering reinsurance segment reserves predominantly attributable to casualty portfolios related to 2021 and prior underwriting years.

    The LPT reinsurance agreement covers reinsurance segment reserves totalling $3.1 billion at September 30, 2024, and is structured as a 75% ground-up quota share, with AXIS retroceding $2.3 billion of reinsurance segment reserves to Enstar.

    The LPT reinsurance agreement was provided by Enstar’s wholly owned subsidiary, Cavello Bay Reinsurance Limited, which has S&P and AM Best ‘A’ financial strength ratings.

    Completion of the transaction followed receipt of regulatory approvals and satisfaction of various other closing conditions.

    About AXIS Capital
    AXIS Capital, through its operating subsidiaries, is a global specialty underwriter and provider of insurance and reinsurance solutions. The Company has shareholders’ equity of $6.1 billion at September 30, 2024, and locations in Bermuda, the United States, Europe, Singapore, and Canada. Its operating subsidiaries have been assigned a financial strength rating of “A+” (“Strong”) by Standard & Poor’s and “A” (“Excellent”) by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com.

    About Enstar

    Enstar is a NASDAQ-listed global insurance group that offers innovative capital release solutions through its network of group companies in Bermuda, the United States, the United Kingdom, Australia, Lichtenstein and Belgium. A market leader in completing legacy acquisitions, Enstar has acquired more than 120 companies and portfolios since its formation in 2001. For further information about Enstar, see www.enstargroup.com.

    The MIL Network –

  • MIL-OSI: ARKO to Report First Quarter 2025 Financial Results on May 8, 2025

    Source: GlobeNewswire (MIL-OSI)

    RICHMOND, Va., April 24, 2025 (GLOBE NEWSWIRE) — ARKO Corp. (Nasdaq: ARKO) (the “Company”), a Fortune 500 company and one of the largest convenience store operators in the United States, today announced that the Company will host a conference call on Thursday, May 8, 2025 at 5:00 p.m. Eastern Time to discuss its financial results for the first quarter ended March 31, 2025.

    ARKO Corp.’s management team will host the conference call, followed by a question-and-answer period. The Company will provide its financial results in a press release prior to the call.

    Date: Thursday, May 8, 2025
    Time: 5:00 p.m. Eastern Time
    Toll-free dial-in number: (888) 396-8049
    International dial-in number: (416) 764-8646
    Webcast: ARKO’s Q1 2025 Earnings Call

    A telephonic replay will be available approximately three hours after the call concludes through Saturday, June 7, 2025.

    Toll-free replay number: (877) 660-6853
    International replay number: (201) 612-7415
    Replay ID: 13752796

    A link to the live webcast and replay will also be available at https://www.arkocorp.com/news-events/ir-calendar. We encourage all participants to register at least 15 minutes prior to the 5:00 p.m. ET start time. If you have any difficulty registering or connecting with the conference call, please contact Elevate IR at (720) 330-2829.

    About ARKO Corp.

    ARKO Corp. (Nasdaq: ARKO) is a Fortune 500 company that owns 100% of GPM Investments, LLC and is one of the largest operators of convenience stores and wholesalers of fuel in the United States. Based in Richmond, VA, our highly recognizable Family of Community Brands offers delicious, prepared foods, beer, snacks, candy, hot and cold beverages, and multiple popular quick serve restaurant brands. We operate in four reportable segments: retail, which includes convenience stores selling merchandise and fuel products to retail customers; wholesale, which supplies fuel to independent dealers and consignment agents; fleet fueling, which includes the operation of proprietary and third-party cardlock locations and issuance of proprietary fuel cards that provide customers access to a nationwide network of fueling sites; and GPM Petroleum, which sells and supplies fuel to our retail and wholesale sites and charges a fixed fee, primarily to our fleet fueling sites. To learn more about GPM stores, visit: www.gpminvestments.com. To learn more about ARKO, visit: www.arkocorp.com.

    Company Contact
    Jordan Mann
    ARKO Corp.
    investors@gpminvestments.com

    Investor Contact
    Sean Mansouri, CFA
    Elevate IR
    (720) 330-2829
    ARKO@elevate-ir.com

    The MIL Network –

  • MIL-OSI: BitMart Donates $10,000 to Brink to Support Bitcoin’s Open-Source Core Development

    Source: GlobeNewswire (MIL-OSI)

    Mahe, Seychelles, April 24, 2025 (GLOBE NEWSWIRE) — BitMart, a leading global digital asset trading platform, has announced a donation of $10,000 to Brink, a non-profit organization dedicated to supporting Bitcoin’s open-source development. This donation will aid in the continued research, development, and maintenance of the Bitcoin protocol, helping to ensure the long-term sustainability and security of the network.

    At BitMart, we recognize the importance of Bitcoin’s infrastructure and are proud to contribute to the efforts of organizations like Brink that are essential in maintaining and advancing the Bitcoin software and protocol. By supporting Brink, BitMart reaffirms its commitment to the future of the Bitcoin ecosystem and open-source innovation.

    This contribution will directly support Brink’s fellowship and grant programs, which nurture the next generation of Bitcoin developers and sustain the work of experienced engineers contributing to the protocol’s evolution.

    About BitMart
    BitMart is the premier global digital asset trading platform. With millions of users worldwide and ranked among the top crypto exchanges on CoinGecko, it currently offers 1,700+ trading pairs with competitive trading fees. Constantly evolving and growing, BitMart is interested in crypto’s potential to drive innovation and promote financial inclusion. To learn more about BitMart, visit their Website, follow their X (Twitter), or join their Telegram for updates, news, and promotions. Download BitMart App to trade anytime, anywhere.

    About Brink
    Brink is a non-profit organization focused on strengthening the Bitcoin protocol through fundamental research and development. Through its fellowship and grants programs, Brink supports both new contributors and seasoned developers in the Bitcoin community. For more information, visit Brink’s website.

    Disclaimer:
    Use of BitMart services is entirely at your own risk. All crypto investments, including earnings, are highly speculative in nature and involve substantial risk of loss. Past, hypothetical, or simulated performance is not necessarily indicative of future results.

    The value of digital currencies can go up or down and there can be a substantial risk in buying, selling, holding, or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial circumstances, and risk tolerance. BitMart does not provide any investment, legal, or tax advice.

    The MIL Network –

  • MIL-OSI: Canadian General Investments: Report of Voting Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Canada, April 24, 2025 (GLOBE NEWSWIRE) — This report is filed under section 16.3 of National Instrument 81-106 Investment Fund Continuous Disclosure in respect of the annual general meeting of shareholders of Canadian General Investments, Limited (the “Corporation”) held on April 24, 2025 (the “Meeting”).

    There were 14,252,740 common shares represented in person or by proxy at the Meeting (equal to 68.32% of the issued and outstanding common shares).

    Each of the seven nominees proposed by management for election as a director of the Corporation, as listed in the management information circular dated February 28, 2025, was elected as a director of the Corporation by votes cast at the Meeting. The detailed results of the vote for the election of each director are set out below.

    Name of director Votes for
    appointment to
    the Board of
    Directors    		 Votes for
    as a % of
    votes cast    		 Votes
    withheld    		 Votes withheld
    as a % of
    votes cast
             
    Marcia Lewis Brown 13,188,533 99.70 39,211 0.30
    A. Michelle Lally 13,114,833 99.15 112,911 0.85
    Jonathan A. Morgan 12,888,759 97.44 338,985 2.56
    Vanessa L. Morgan 12,889,575 97.44 338,169 2.56
    Sanjay Nakra 13,182,356 99.66 45,388 0.34
    Clive W. Robinson 12,972,529 98.07 255,215 1.93
    Michael C. Walke 13,190,027 99.71 37,717 0.29
             

    In addition, PricewaterhouseCoopers LLP was reappointed as auditor of the Corporation and the directors authorized to fix its remuneration by way of votes cast at the Meeting.

    FOR FURTHER INFORMATION PLEASE CONTACT:
    Canadian General Investments, Limited
    Jonathan A. Morgan
    President & CEO
    Phone: (416) 366-2931
    Fax: (416) 366-2729
    e-mail: cgifund@mmainvestments.com
    website: www.canadiangeneralinvestments.ca

    The MIL Network –

  • MIL-OSI: Order.co Named “AI Procurement Platform of the Year” In 2025 RetailTech Breakthrough Awards Program

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 24, 2025 (GLOBE NEWSWIRE) — Order.co, the world’s leading B2B Ecommerce Platform, today announced it has been recognized as “AI Procurement Platform of the Year” by RetailTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout retail technology companies, products and services around the globe.

    The RetailTech Breakthrough Awards program conducts the industry’s most comprehensive analysis of standout leaders and technologies driving innovation and shaping the future of retail. This year’s program received thousands of nominations from more than 14 countries worldwide.

    “Order.co addresses inefficiencies in retail procurement and operational management. Retailers are facing pressure to streamline operations, reduce costs, and grow their businesses while also delivering exceptional customer experiences. However, they are often bogged down by fragmented purchasing processes, repetitive tasks, and low visibility into spending,” said Bryan Vaughn, Managing Director, RetailTech Breakthrough. “Order.co resolves these challenges in a completely unique way – an all-in-one, intuitive platform that makes procurement and purchase order creation, tracking, and management a breeze with advanced AI. It’s an honor to name Order.co AI Procurement Platform of the Year!”

    Order.co stood out with its unique sourcing AI and procurement automation capabilities that empower retail teams to scale new stores efficiently, cut costs on everyday supplies, and serve consistent customer experiences. The platform’s AI can:

    • Save retailers an average of 5% on products they’re already purchasing today.
    • Deliver context-aware product recommendations, trained on thousands of transactions across Order.co’s user base.
    • Help retail stores prepare for pricing changes before they happen through predictive modeling.
    • Suggest optimal vendors based on their location, reliability, and previous cost fluctuations.

    Beyond its extensive AI capabilities, Order.co helps retailers with everything from scaling purchasing across locations to automating AP and reporting. Retail teams can set up custom approval rules, budget controls, and product catalogs, ensuring new and existing stores have the supplies they need to operate.

    “We’re honored to be recognized as the AI Procurement Platform of the Year,” said Zach Garippa, CEO and Co-Founder of Order.co. “Our team is focused on building AI tools that remove friction, give teams their time back to prioritize the customer experience, and help every store open stronger and run smoother. We’re proud to be leading that charge in the retail industry.”

    To learn more about how back-office teams can leverage AI to overcome their biggest challenges, register for Order.co’s ChatP2P: AI & the Back Office webinar series.

    About Order.co
    Order.co simplifies business buying by combining the ease of online shopping with the sophistication of world-class purchase order and AP automation. The result? Businesses cut costs and complexity with every order.

    Hundreds of companies, like WeWork and Hugo Boss, leverage Order.co to centralize purchase-to-pay workflows, scale operations, and gain total control over spending – saving an average of 5% on products. Founded in 2016 and headquartered in New York City, Order.co has raised $50M in funding from industry-leading investors like MIT, Stage 2 Capital, Rally Ventures, 645 Ventures, and more.

    About RetailTech Breakthrough
    Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the RetailTech Breakthrough Awards program is the premier awards and recognition platform devoted to honoring excellence in retail technology companies, service, and solutions around the world. The RetailTech Breakthrough Awards provide public recognition for the achievements of retail technology companies and products in categories that include store management, digital displays, checkout automation, workforce tools, smart dressing rooms , and more. For more information, visit retailtechbreakthrough.com.

    Tech Breakthrough LLC does not endorse any vendor, product, or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.

    Media Contact

    Allison Reich
    Senior Manager of Brand, Content & Enablement
    Allison.reich@order.co

    The MIL Network –

  • MIL-OSI: Quick Custom Intelligence Joins Theo Awards as Silver Sponsor, Expanding Support of Casino DMA’s Mission

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, April 24, 2025 (GLOBE NEWSWIRE) — Casino Direct Marketing Association (Casino DMA), a 501(c)(3) nonprofit organization dedicated to advancing casino marketing through education and connection, is proud to announce that Quick Custom Intelligence (QCI) has signed on as a Silver Sponsor of the upcoming Theo Awards. This new sponsorship marks an exciting expansion of QCI’s support for Casino DMA’s mission and programs.

    “Marketing for casinos is a unique challenge, blending creative artistry with data science,” said Dr. Ralph Thomas, Chief Executive Officer at QCI. “We’re grateful to Casino DMA for the opportunity to sponsor this event and eager to hear the stories that emerge. It’s this kind of sharing that makes our industry stronger.”

    “We’re thrilled to welcome QCI as a sponsor,” said Steven Paci, president of Casino DMA. “Their commitment to innovation and excellence in casino marketing perfectly aligns with our goal of elevating and celebrating the work of our industry’s brightest minds.”

    For more information about the Theo Awards or Casino DMA sponsorship opportunities, visit casinodma.com.

    ABOUT QCI
    Quick Custom Intelligence (QCI) has pioneered the revolutionary QCI Enterprise Platform, an artificial intelligence platform that seamlessly integrates player development, marketing, and gaming operations with powerful, real-time tools designed specifically for the gaming and hospitality industries. Our advanced, highly configurable software is deployed in over 250 casino resorts across North America, Australia, New Zealand, Canada, Latin America, and The Bahamas. The QCI AGI Platform, which manages more than $35 billion in annual gross gaming revenue, stands as a best-in-class solution, whether on-premises, hybrid, or cloud-based, enabling fully coordinated activities across all aspects of gaming and hospitality operations. QCI’s data-driven, AI-powered software propels swift, informed decision-making vital in the ever-changing casino industry, assisting casinos in optimizing resources and profits, crafting effective marketing campaigns, and enhancing customer loyalty. QCI was co-founded by Dr. Ralph Thomas and Mr. Andrew Cardno and is based in San Diego, with additional offices in Las Vegas, St. Louis, Dallas, and Tulsa. Main phone number: (858) 299.5715. Visit us at www.quickcustomintelligence.com.

    ABOUT Dr. Ralph Thomas
    Ralph is a product visionary in applied analytics and the founder of two companies that deliver solutions in casino gaming, education, and adult learning. As a gaming industry veteran, Dr. Thomas has substantial experience implementing analytics into single and multi-property gaming companies to drive tangible and measurable gains to the bottom line and has built business intelligence tools for multibillion-dollar casinos. Dr. Thomas is co-author of seven books and over 80 articles on applied analytics and data science in gaming, an inventor on dozens of patents, and understands gaming from raw data up through casino operations, giving him a unique, 360-degree view of the industry.

    Contact:
    Laurel Kay, Quick Custom Intelligence
    Phone: 858-349-8354

    The MIL Network –

  • MIL-OSI: C&F Financial Corporation Announces Net Income for First Quarter

    Source: GlobeNewswire (MIL-OSI)

    TOANO, Va., April 24, 2025 (GLOBE NEWSWIRE) — C&F Financial Corporation (the Corporation) (NASDAQ: CFFI), the holding company for C&F Bank, today reported consolidated net income of $5.4 million for the first quarter of 2025, compared to $3.4 million for the first quarter of 2024. The following table presents selected financial performance highlights for the periods indicated:

        For The Quarter Ended  
    Consolidated Financial Highlights (unaudited)   3/31/2025     3/31/2024  
    Consolidated net income (000’s)   $ 5,395     $ 3,435  
                     
    Earnings per share – basic and diluted   $ 1.66     $ 1.01  
                     
    Annualized return on average equity     9.35 %     6.33 %
    Annualized return on average tangible common equity1     10.65 %     7.30 %
    Annualized return on average assets     0.84 %     0.57 %

    ________________________
    1 For more information about these non-GAAP financial measures, which are not calculated in accordance with generally accepted accounting principles (GAAP), please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures,” below.

    Tom Cherry, President and Chief Executive Officer of C&F Financial Corporation, commented, “We are pleased with our first quarter results. Net income increased across all of our business segments compared to the same quarter last year. Both loan and deposit growth at the community banking segment was strong and loan originations at the mortgage banking segment increased when compared to the first quarter of last year. Despite a decrease in the average balance of loans at the consumer finance segment, we were able to increase net income by continuing to focus on efficiencies. Consolidated margins grew slightly as higher cost time deposits continue to reprice downward. Despite the economic uncertainties, we are optimistic about our earnings for 2025.”

    Key highlights for the first quarter of 2025 are as follows.

    • Community banking segment loans grew $27.6 million, or 7.6 percent annualized, and $139.9 million, or 10.4 percent, compared to December 31, 2024 and March 31, 2024, respectively;
    • Consumer finance segment loans decreased $4.7 million, or 4.0 percent annualized, and $14.0 million, or 2.9 percent, compared to December 31, 2024 and March 31, 2024, respectively;
    • Deposits increased $45.8 million, or 8.4 percent annualized, and $128.7 million, or 6.2 percent, compared to December 31, 2024 and March 31, 2024, respectively;
    • Consolidated annualized net interest margin was 4.16 percent for the first quarter of 2025 compared to 4.09 percent for the first quarter of 2024 and 4.13 percent in the fourth quarter of 2024;
    • The community banking segment recorded provision for credit losses of $100,000 and $500,000 for the first quarters of 2025 and 2024, respectively;
    • The consumer finance segment recorded provision for credit losses of $2.9 million and $3.0 million for the first quarters of 2025 and 2024, respectively;
    • The consumer finance segment experienced net charge-offs at an annualized rate of 2.64 percent of average total loans for the first quarter of 2025, compared to 2.54 percent for the first quarter of 2024; and
    • Mortgage banking segment loan originations increased $19.5 million, or 20.6 percent, to $113.8 million for the first quarter of 2025 compared to the first quarter of 2024 and decreased $16.7 million, or 12.8 percent compared to the fourth quarter of 2024.

    Community Banking Segment. The community banking segment reported net income of $5.4 million for the first quarter of 2025, compared to $4.0 million for the same period of 2024, due primarily to:

    • higher interest income resulting from higher average balances of loans and the effects of higher average interest rates on asset yields; and
    • lower provision for credit losses due primarily to lower loan growth;

    partially offset by:

    • higher interest expense due primarily to higher average balances of interest-bearing deposits and higher average rates on deposits; and
    • higher marketing and advertising expenses related to the strategic marketing initiative, which began in the second half of 2024.

    Average loans increased $165.3 million, or 12.7 percent, for the first quarter of 2025, compared to the same period in 2024, due primarily to growth in the construction, commercial real estate, land acquisition and development and builder lines segments of the loan portfolio. Average deposits increased $131.6 million, or 6.4 percent, for the first quarter of 2025, compared to the same period in 2024, due primarily to higher balance of time deposits and noninterest-bearing demand deposits.

    Average interest-earning asset yields were higher for the first quarter of 2025, compared to the same period of 2024, due primarily to a shift in the mix of the loan portfolio, renewals of fixed rate loans originated during periods of lower interest rates and purchases of securities available for sale in the overall higher interest rate environment. Average costs of interest-bearing deposits were higher for the first quarter of 2025, compared to the same period of 2024, due primarily to the continued effects of a shift in the mix of deposits with customers seeking higher yielding opportunities as a result of higher interest rates paid on time deposits.

    The community banking segment’s nonaccrual loans were $1.2 million at March 31, 2025 compared to $333,000 at December 31, 2024. The increase in nonaccrual loans compared to December 31, 2024 is due primarily to the downgrade of one residential mortgage relationship in the first quarter of 2025. The community banking segment recorded $100,000 in provision for credit losses for the first quarter of 2025, compared to $500,000 for the same period of 2024. At March 31, 2025, the allowance for credit losses increased to $17.5 million, compared to $17.4 million at December 31, 2024, due primarily to growth in the loan portfolio and increased macroeconomic uncertainties. The allowance for credit losses as a percentage of total loans decreased to 1.18 percent at March 31, 2025 from 1.20 percent at December 31, 2024 due primarily to growth in loans with shorter expected lives, which resulted in lower estimated losses over the life of the loan. Management believes that the level of the allowance for credit losses is adequate to reflect the net amount expected to be collected.

    Mortgage Banking Segment. The mortgage banking segment reported net income of $431,000 for the first quarter of 2025, compared to $294,000 for the same period of 2024, due primarily to:

    • higher gains on sales of loans and higher mortgage banking fee income due to higher volume of mortgage loan originations;

    partially offset by:

    • higher variable expenses tied to mortgage loan origination volume such as commissions and bonuses, reported in salaries and employee benefits; and
    • lower reversal of provision for indemnifications.

    Despite the sustained elevated level of mortgage interest rates, higher home prices and low levels of inventory, mortgage banking segment loan originations increased for the first quarter of 2025 compared to the same period of 2024. Mortgage loan originations for the mortgage banking segment were $113.8 million for the first quarter of 2025, comprised of $12.1 million refinancings and $101.7 million home purchases, compared to $94.3 million, comprised of $7.5 million refinancings and $86.8 million home purchases, for the same period in 2024. Mortgage loan originations in the first quarter of 2025 decreased $16.7 million compared to the fourth quarter of 2024 due in part to normal industry seasonal fluctuations. Mortgage loan segment originations include originations of loans sold to the community banking segment, at prices similar to those paid by third-party investors. These transactions are eliminated to reach consolidated totals.

    During the first quarter of 2025, the mortgage banking segment recorded a reversal of provision for indemnification losses of $25,000, compared to a reversal of provision for indemnification losses of $140,000 in the same period of 2024. The allowance for indemnifications was $1.32 million and $1.35 million at March 31, 2025 and December 31, 2024, respectively. The release of indemnification reserves in 2025 and 2024 was due primarily to lower volume of mortgage loan originations in recent years, improvement in the mortgage banking segment’s assessment of borrower payment performance and other factors affecting expected losses on mortgage loans sold in the secondary market, such as time since origination. Management believes that the indemnification reserve is sufficient to absorb losses related to loans that have been sold in the secondary market.

    Consumer Finance Segment. The consumer finance segment reported net income of $226,000 for the first quarter of 2025, compared to net loss of $63,000 for the same period in 2024, due primarily to:

    • lower interest expense on borrowings from the community banking segment as a result of lower average balances of borrowings;
    • lower salaries and employee benefits expense due to an effort to reduce overhead costs; and
    • higher interest income resulting from the effects of higher interest rates on loan yields, partially offset by lower average balances of loans.

    Average loans decreased $8.3 million, or 1.8 percent, for the first quarter of 2025, compared to the same period in 2024. The consumer finance segment experienced net charge-offs at an annualized rate of 2.64 percent of average total loans for the first quarter of 2025, compared to 2.54 percent for the first quarter of 2024, due primarily to an increase in delinquent loans, repossessions and the average amount charged-off when a loan was uncollectable. At March 31, 2025, total delinquent loans as a percentage of total loans was 3.05 percent, compared to 3.90 percent at December 31, 2024, and 2.78 percent at March 31, 2024.

    The consumer finance segment, at times, offers payment deferrals as a portfolio management technique to achieve higher ultimate cash collections on select loan accounts. A significant reliance on deferrals as a means of managing collections may result in a lengthening of the loss confirmation period, which would increase expectations of credit losses inherent in the portfolio. Average amounts of payment deferrals of automobile loans on a monthly basis, which are not included in delinquent loans, were 1.75 percent of average automobile loans outstanding during the first quarter of 2025, compared to 1.62 percent during the same period during 2024. The allowance for credit losses was $22.5 million at March 31, 2025 and $22.7 million at December 31, 2024. The allowance for credit losses as a percentage of total loans was 4.88 percent at March 31, 2025 compared to 4.86 percent at December 31, 2024. Management believes that the level of the allowance for credit losses is adequate to reflect the net amount expected to be collected. If loan performance deteriorates resulting in further elevated delinquencies or net charge-offs, the provision for credit losses may increase in future periods.

    Liquidity. The objective of the Corporation’s liquidity management is to ensure the continuous availability of funds to satisfy the credit needs of our customers and the demands of our depositors, creditors and investors. Uninsured deposits represent an estimate of amounts above the Federal Deposit Insurance Corporation (FDIC) insurance coverage limit of $250,000. As of March 31, 2025, the Corporation’s uninsured deposits were approximately $644.4 million, or 29.1 percent of total deposits. Excluding intercompany cash holdings and municipal deposits, which are secured with pledged securities, amounts uninsured were approximately $496.6 million, or 22.4 percent of total deposits as of March 31, 2025. The Corporation’s liquid assets, which include cash and due from banks, interest-bearing deposits at other banks and nonpledged securities available for sale, were $315.0 million and borrowing availability was $598.7 million as of March 31, 2025, which in total exceed uninsured deposits, excluding intercompany cash holdings and secured municipal deposits, by $417.1 million as of March 31, 2025.

    In addition to deposits, the Corporation utilizes short-term and long-term borrowings as sources of funds. Short-term borrowings from the Federal Reserve Bank and the Federal Home Loan Bank of Atlanta (FHLB) may be used to fund the Corporation’s day-to-day operations. Short-term borrowings also include securities sold under agreements to repurchase. Total borrowings decreased to $119.5 million at March 31, 2025 from $122.6 million at December 31, 2024 due primarily to fluctuations in short-term borrowings.

    Additional sources of liquidity available to the Corporation include cash flows from operations, loan payments and payoffs, deposit growth, maturities, calls and sales of securities, the issuance of brokered certificates of deposit and the capacity to borrow additional funds.

    Capital and Dividends. During the first quarter of 2025, the Corporation increased its quarterly cash dividend by 5 percent, to 46 cents per share, compared to the previous quarterly dividend. This dividend, which was paid to shareholders on April 1, 2025, represents a payout ratio of 27.7 percent of earnings per share for the first quarter of 2025. The Board of Directors of the Corporation continually reviews the amount of cash dividends per share and the resulting dividend payout ratio in light of changes in economic conditions, current and future capital levels and requirements, and expected future earnings.

    Total consolidated equity increased $8.3 million at March 31, 2025, compared to December 31, 2024, due primarily to net income and lower unrealized losses in the market value of securities available for sale, which are recognized as a component of other comprehensive income, partially offset by dividends paid on the Corporation’s common stock. The Corporation’s securities available for sale are fixed income debt securities and their unrealized loss position is a result of increased market interest rates since they were purchased. The Corporation expects to recover its investments in debt securities through scheduled payments of principal and interest. Unrealized losses are not expected to affect the earnings or regulatory capital of the Corporation or C&F Bank. The accumulated other comprehensive loss related to the Corporation’s securities available for sale, net of deferred income taxes, decreased to $19.1 million at March 31, 2025 compared to $23.7 million at December 31, 2024 due primarily to fluctuations in debt security market interest rates and a decrease in the balance of securities available for sale in an unrealized loss position as a result of maturities, calls and paydowns.

    As of March 31, 2025, the most recent notification from the FDIC categorized C&F Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized under regulations applicable at March 31, 2025, C&F Bank was required to maintain minimum total risk-based, Tier 1 risk-based, CET1 risk-based and Tier 1 leverage ratios. In addition to the regulatory risk-based capital requirements, C&F Bank must maintain a capital conservation buffer of additional capital of 2.5 percent of risk-weighted assets as required by the Basel III capital rules. The Corporation and C&F Bank exceeded these ratios at March 31, 2025. For additional information, see “Capital Ratios” below. The above mentioned ratios are not impacted by unrealized losses on securities available for sale. In the event that all of these unrealized losses become realized into earnings, the Corporation and C&F Bank would both continue to exceed minimum capital requirements, including the capital conservation buffer, and be considered well capitalized.

    In December 2024, the Board of Directors authorized a program, effective January 1, 2025 through December 31, 2025, to repurchase up to $5.0 million of the Corporation’s common stock (the 2025 Repurchase Program). During the first quarter of 2025, the Corporation did not make any repurchases of its common stock under the 2025 Repurchase Program.

    About C&F Financial Corporation. The Corporation’s common stock is listed for trading on The Nasdaq Stock Market under the symbol CFFI. The common stock closed at a price of $65.33 per share on April 23, 2025. At March 31, 2025, the book value per share of the Corporation was $72.51 and the tangible book value per share was $64.39. For more information about the Corporation’s tangible book value per share, which is not calculated in accordance with GAAP, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures,” below.

    C&F Bank operates 31 banking offices and four commercial loan offices located throughout eastern and central Virginia and offers full wealth management services through its subsidiary C&F Wealth Management, Inc. C&F Mortgage Corporation and its subsidiary C&F Select LLC provide mortgage loan origination services through offices located in Virginia and the surrounding states. C&F Finance Company provides automobile, marine and recreational vehicle loans through indirect lending programs offered primarily in the Mid-Atlantic, Midwest and Southern United States from its headquarters in Henrico, Virginia.

    Additional information regarding the Corporation’s products and services, as well as access to its filings with the Securities and Exchange Commission (SEC), are available on the Corporation’s website at http://www.cffc.com.

    Use of Certain Non-GAAP Financial Measures. The accounting and reporting policies of the Corporation conform to GAAP in the United States and prevailing practices in the banking industry. However, certain non-GAAP measures are used by management to supplement the evaluation of the Corporation’s performance. These may include adjusted net income, adjusted earnings per share, adjusted return on average equity, adjusted return on average assets, return on average tangible common equity (ROTCE), adjusted ROTCE, tangible book value per share, price to tangible book value ratio, and the following fully-taxable equivalent (FTE) measures: interest income on loans-FTE, interest income on securities-FTE, total interest income-FTE and net interest income-FTE.

    Management believes that the use of these non-GAAP measures provides meaningful information about operating performance by enhancing comparability with other financial periods, other financial institutions, and between different sources of interest income. The non-GAAP measures used by management enhance comparability by excluding the effects of balances of intangible assets, including goodwill, that vary significantly between institutions, and tax benefits that are not consistent across different opportunities for investment. These non-GAAP financial measures should not be considered an alternative to, or more important than, GAAP-basis financial statements, and other bank holding companies may define or calculate these or similar measures differently. A reconciliation of the non-GAAP financial measures used by the Corporation to evaluate and measure the Corporation’s performance to the most directly comparable GAAP financial measures is presented below.

    Forward-Looking Statements. This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the beliefs of the Corporation’s management, as well as assumptions made by, and information currently available to, the Corporation’s management, and reflect management’s current views with respect to certain events that could have an impact on the Corporation’s future financial performance. These statements, including without limitation statements made in Mr. Cherry’s quote and statements regarding future interest rates and conditions in the Corporation’s industries and markets, relate to expectations concerning matters that are not historical fact, may express “belief,” “intention,” “expectation,” “potential” and similar expressions, and may use the words “believe,” “expect,” “anticipate,” “estimate,” “plan,” “may,” “might,” “will,” “intend,” “target,” “should,” “could,” or similar expressions. These statements are inherently uncertain, and there can be no assurance that the underlying assumptions will prove to be accurate. Actual results could differ materially from those anticipated or implied by such statements. Forward-looking statements in this release may include, without limitation, statements regarding expected future operations and financial performance, expected trends in yields on loans, expected future recovery of investments in debt securities, future dividend payments, deposit trends, charge-offs and delinquencies, changes in cost of funds and net interest margin and items affecting net interest margin, strategic business initiatives and the anticipated effects thereof, changes in interest rates and the effects thereof on net interest income, mortgage loan originations, expectations regarding C&F Bank’s regulatory risk-based capital requirement levels, technology initiatives, our diversified business strategy, asset quality, credit quality, adequacy of allowances for credit losses and the level of future charge-offs, market interest rates and housing inventory and resulting effects in mortgage loan origination volume, sources of liquidity, adequacy of the reserve for indemnification losses related to loans sold in the secondary market, the effect of future market and industry trends, the effects of future interest rate fluctuations, cybersecurity risks, and inflation. Factors that could have a material adverse effect on the operations and future prospects of the Corporation include, but are not limited to, changes in:

    • interest rates, such as volatility in short-term interest rates or yields on U.S. Treasury bonds, increases in interest rates following actions by the Federal Reserve and increases or volatility in mortgage interest rates
    • general business conditions, as well as conditions within the financial markets
    • general economic conditions, including unemployment levels, inflation rates, supply chain disruptions and slowdowns in economic growth
    • general market conditions, including disruptions due to pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises, changes in trade policy and the implementation of tariffs, war and other military conflicts or other major events, or the prospect of these events
    • average loan yields and average costs of interest-bearing deposits and borrowings
    • financial services industry conditions, including bank failures or concerns involving liquidity
    • labor market conditions, including attracting, hiring, training, motivating and retaining qualified employees
    • the legislative/regulatory climate, regulatory initiatives with respect to financial institutions, products and services, the Consumer Financial Protection Bureau (the CFPB) and the regulatory and enforcement activities of the CFPB
    • monetary and fiscal policies of the U.S. Government, including policies of the FDIC, U.S. Department of the Treasury and the Board of Governors of the Federal Reserve System, and the effect of these policies on interest rates and business in our markets
    • demand for financial services in the Corporation’s market area
    • the value of securities held in the Corporation’s investment portfolios
    • the quality or composition of the loan portfolios and the value of the collateral securing those loans
    • the inventory level, demand and fluctuations in the pricing of used automobiles, including sales prices of repossessed vehicles
    • the level of automobile loan delinquencies or defaults and our ability to repossess automobiles securing delinquent automobile finance installment contracts
    • the level of net charge-offs on loans and the adequacy of our allowance for credit losses
    • the level of indemnification losses related to mortgage loans sold
    • demand for loan products
    • deposit flows
    • the strength of the Corporation’s counterparties
    • the availability of lines of credit from the FHLB and other counterparties
    • the soundness of other financial institutions and any indirect exposure related to the closing of other financial institutions and their impact on the broader market through other customers, suppliers and partners, or that the conditions which resulted in the liquidity concerns experienced by closed financial institutions may also adversely impact, directly or indirectly, other financial institutions and market participants with which the Corporation has commercial or deposit relationships
    • competition from both banks and non-banks, including competition in the non-prime automobile finance markets and marine and recreational vehicle finance markets
    • services provided by, or the level of the Corporation’s reliance upon third parties for key services
    • the commercial and residential real estate markets, including changes in property values
    • the demand for residential mortgages and conditions in the secondary residential mortgage loan markets
    • the Corporation’s technology initiatives and other strategic initiatives
    • the Corporation’s branch expansion, relocation and consolidation plans
    • cyber threats, attacks or events
    • C&F Bank’s product offerings
    • accounting principles, policies and guidelines, and elections by the Corporation thereunder.

    These risks and uncertainties should be considered in evaluating the forward-looking statements contained herein, and readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. For additional information on risk factors that could affect the forward-looking statements contained herein, see the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2024 and other reports filed with the SEC. The Corporation undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

    C&F Financial Corporation

    Selected Financial Information
    (dollars in thousands, except for per share data)
    (unaudited)
                         
    Financial Condition   3/31/2025    12/31/2024    3/31/2024  
    Interest-bearing deposits in other banks   $ 62,490   $ 49,423   $ 39,303  
    Investment securities – available for sale, at fair value     431,513     418,625     430,421  
    Loans held for sale, at fair value     27,278     20,112     22,622  
    Loans, net:                    
    Community Banking segment     1,463,679     1,436,226     1,324,690  
    Consumer Finance segment     439,604     444,085     452,537  
    Total assets     2,612,530     2,563,374     2,469,751  
    Deposits     2,216,654     2,170,860     2,087,932  
    Repurchase agreements     25,909     28,994     27,803  
    Other borrowings     93,546     93,615     93,772  
    Total equity     235,271     226,970     216,949  
      For The  
      Quarter Ended  
    Results of Operations 3/31/2025     3/31/2024  
    Interest income $ 35,988     $ 32,708  
    Interest expense   10,978       9,550  
    Provision for credit losses:              
    Community Banking segment   100       500  
    Consumer Finance segment   2,900       3,000  
    Noninterest income:              
    Gains on sales of loans   1,847       1,288  
    Other   5,726       6,204  
    Noninterest expenses:              
    Salaries and employee benefits   13,483       14,252  
    Other   9,576       8,898  
    Income tax expense   1,129       565  
    Net income   5,395       3,435  
                   
    Fully-taxable equivalent (FTE) amounts1              
    Interest income on loans-FTE   32,428       29,636  
    Interest income on securities-FTE   3,346       3,098  
    Total interest income-FTE   36,276       32,993  
    Net interest income-FTE   25,298       23,443  

    ________________________
    1For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”

        For the Quarter Ended  
          3/31/2025      3/31/2024     
        Average      Income/      Yield/   Average      Income/      Yield/  
    Yield Analysis   Balance     Expense     Rate   Balance     Expense     Rate  
    Assets                                  
    Securities:                                  
    Taxable   $ 339,450     $ 2,193   2.58 % $ 365,244     $ 1,980   2.17 %
    Tax-exempt     119,033       1,153   3.87     120,920       1,118   3.70  
    Total securities     458,483       3,346   2.92     486,164       3,098   2.55  
    Loans:                                  
    Community banking segment     1,467,555       19,966   5.52     1,302,260       17,331   5.35  
    Mortgage banking segment     20,968       339   6.56     17,700       281   6.39  
    Consumer finance segment     465,526       12,123   10.56     473,848       12,024   10.21  
    Total loans     1,954,049       32,428   6.73     1,793,808       29,636   6.64  
    Interest-bearing deposits in other banks     55,830       502   3.65     28,417       259   3.67  
    Total earning assets     2,468,362       36,276   5.95     2,308,389       32,993   5.75  
    Allowance for credit losses     (40,605 )               (40,292 )            
    Total non-earning assets     154,554                 156,800              
    Total assets   $ 2,582,311               $ 2,424,897              
                                       
    Liabilities and Equity                                  
    Interest-bearing deposits:                                  
    Interest-bearing demand deposits   $ 332,341       600   0.67   $ 335,570       553   0.66  
    Savings and money market deposit accounts     489,217       1,205   1.00     484,645       1,061   0.88  
    Certificates of deposit     821,949       7,964   3.93     705,167       6,916   3.94  
    Total interest-bearing deposits     1,643,507       9,769   2.40     1,525,382       8,530   2.25  
    Borrowings:                                  
    Repurchase agreements     28,192       112   1.59     27,997       111   1.59  
    Other borrowings     93,597       1,097   4.69     78,445       909   4.64  
    Total borrowings     121,789       1,209   3.97     106,442       1,020   3.83  
    Total interest-bearing liabilities     1,765,296       10,978   2.51     1,631,824       9,550   2.35  
    Noninterest-bearing demand deposits     545,346                 531,885              
    Other liabilities     40,874                 44,125              
    Total liabilities     2,351,516                 2,207,834              
    Equity     230,795                 217,063              
    Total liabilities and equity   $ 2,582,311               $ 2,424,897              
    Net interest income         $ 25,298             $ 23,443      
    Interest rate spread               3.44 %             3.40 %
    Interest expense to average earning assets               1.79 %             1.66 %
    Net interest margin               4.16 %             4.09 %
                                       
                       
        3/31/2025
    Funding Sources    Capacity      Outstanding      Available
    Unsecured federal funds agreements   $ 75,000   $ —   $ 75,000
    Borrowings from FHLB     248,508     40,000     208,508
    Borrowings from Federal Reserve Bank     315,221     —     315,221
    Total   $ 638,729   $ 40,000   $ 598,729
                       
    Asset Quality   3/31/2025   12/31/2024  
    Community Banking              
    Total loans   $ 1,481,190   $ 1,453,605  
    Nonaccrual loans   $ 1,189   $ 333  
                   
    Allowance for credit losses (ACL)   $ 17,511   $ 17,379  
    Nonaccrual loans to total loans     0.08 %   0.02 %
    ACL to total loans     1.18 %   1.20 %
    ACL to nonaccrual loans     1,472.75 %   5,218.92 %
    Annualized year-to-date net charge-offs to average loans     0.01 %   0.01 %
                   
    Consumer Finance              
    Total loans   $ 462,136   $ 466,793  
    Nonaccrual loans   $ 975   $ 614  
    Repossessed assets   $ 976   $ 779  
    ACL   $ 22,532   $ 22,708  
    Nonaccrual loans to total loans     0.21 %   0.13 %
    ACL to total loans     4.88 %   4.86 %
    ACL to nonaccrual loans     2,310.97 %   3,698.37 %
    Annualized year-to-date net charge-offs to average loans     2.64 %   2.62 %
                   
      For The
      Quarter Ended
    Other Performance Data 3/31/2025   3/31/2024
    Net Income (Loss):          
    Community Banking $ 5,445     $ 4,012  
    Mortgage Banking   431       294  
    Consumer Finance   226       (63 )
    Other1   (707 )     (808 )
    Total $ 5,395     $ 3,435  
               
    Net income attributable to C&F Financial Corporation $ 5,368     $ 3,401  
               
    Earnings per share – basic and diluted $ 1.66     $ 1.01  
    Weighted average shares outstanding – basic and diluted   3,234,935       3,370,934  
               
    Annualized return on average assets   0.84 %     0.57 %
    Annualized return on average equity   9.35 %     6.33 %
    Annualized return on average tangible common equity2   10.65 %     7.30 %
    Dividends declared per share $ 0.46     $ 0.44  
               
    Mortgage loan originations – Mortgage Banking $ 113,750     $ 94,346  
    Mortgage loans sold – Mortgage Banking   106,431       86,079  

    ________________________
    1 Includes results of the holding company that are not allocated to the business segments and elimination of inter-segment activity.
    2 For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”

                   
    Market Ratios 3/31/2025   12/31/2024
    Market value per share $ 67.39     $ 71.25  
    Book value per share $ 72.51     $ 70.00  
    Price to book value ratio   0.93       1.02  
    Tangible book value per share1 $ 64.39     $ 61.86  
    Price to tangible book value ratio1   1.05       1.15  
    Price to earnings ratio (ttm)   11.16       11.86  

    ________________________
    1 For more information about these non-GAAP financial measures, please see “Use of Certain Non-GAAP Financial Measures” and “Reconciliation of Certain Non-GAAP Financial Measures.”

                         
                         
                    Minimum Capital
    Capital Ratios   3/31/2025   12/31/2024   Requirements3
    C&F Financial Corporation1                    
    Total risk-based capital ratio     14.1 %   14.1 %   8.0 %
    Tier 1 risk-based capital ratio     11.9 %   11.9 %   6.0 %
    Common equity tier 1 capital ratio     10.8 %   10.7 %   4.5 %
    Tier 1 leverage ratio     9.9 %   9.8 %   4.0 %
                         
    C&F Bank2                    
    Total risk-based capital ratio     13.7 %   13.5 %   8.0 %
    Tier 1 risk-based capital ratio     12.4 %   12.3 %   6.0 %
    Common equity tier 1 capital ratio     12.4 %   12.3 %   4.5 %
    Tier 1 leverage ratio     10.3 %   10.1 %   4.0 %

    ________________________
    1 The Corporation, a small bank holding company under applicable regulations and guidance, is not subject to the minimum regulatory capital regulations for bank holding companies. The regulatory requirements that apply to bank holding companies that are subject to regulatory capital requirements are presented above, along with the Corporation’s capital ratios as determined under those regulations.
    2 All ratios at March 31, 2025 are estimates and subject to change pending regulatory filings. All ratios at December 31, 2024 are presented as filed.
    3 The ratios presented for minimum capital requirements are those to be considered adequately capitalized.

        For The Quarter Ended
        3/31/2025   3/31/2024
    Reconciliation of Certain Non-GAAP Financial Measures        
    Return on Average Tangible Common Equity            
    Average total equity, as reported   $ 230,795     $ 217,063  
    Average goodwill     (25,191 )     (25,191 )
    Average other intangible assets     (1,118 )     (1,366 )
    Average noncontrolling interest     (637 )     (649 )
    Average tangible common equity   $ 203,849     $ 189,857  
                 
    Net income   $ 5,395     $ 3,435  
    Amortization of intangibles     62       65  
    Net income attributable to noncontrolling interest     (27 )     (34 )
    Net tangible income attributable to C&F Financial Corporation   $ 5,430     $ 3,466  
                 
    Annualized return on average equity, as reported     9.35 %     6.33 %
    Annualized return on average tangible common equity     10.65 %     7.30 %
                     
        For The Quarter Ended
        3/31/2025   3/31/2024
    Fully Taxable Equivalent Net Interest Income1                
    Interest income on loans   $ 32,382     $ 29,586  
    FTE adjustment     46       50  
    FTE interest income on loans   $ 32,428     $ 29,636  
                     
    Interest income on securities   $ 3,104     $ 2,863  
    FTE adjustment     242       235  
    FTE interest income on securities   $ 3,346     $ 3,098  
                     
    Total interest income   $ 35,988     $ 32,708  
    FTE adjustment     288       285  
    FTE interest income   $ 36,276     $ 32,993  
                     
    Net interest income   $ 25,010     $ 23,158  
    FTE adjustment     288       285  
    FTE net interest income   $ 25,298     $ 23,443  

    ____________________
    1 Assuming a tax rate of 21%.

        3/31/2025   12/31/2024
    Tangible Book Value Per Share        
    Equity attributable to C&F Financial Corporation   $ 234,634     $ 226,360  
    Goodwill     (25,191 )     (25,191 )
    Other intangible assets     (1,084 )     (1,147 )
    Tangible equity attributable to C&F Financial Corporation   $ 208,359     $ 200,022  
                 
    Shares outstanding     3,235,781       3,233,672  
                 
    Book value per share   $ 72.51     $ 70.00  
    Tangible book value per share   $ 64.39     $ 61.86  
                     
    Contact:     Jason Long, CFO and Secretary
    (804) 843-2360
         

    The MIL Network –

  • MIL-OSI: CORRECTION: The Now Corporation (OTC: NWPN) Releases April 2025 Newsletter Showcasing EV Infrastructure Expansion and Vintage Fashion Revival

    Source: GlobeNewswire (MIL-OSI)

    In a release issued under the same headline today by The Now Corporation (OTC: NWPN), please note that the provided embedded image has changed. The corrected release follows:

    PASADENA, Calif., April 24, 2025 (GLOBE NEWSWIRE) — The Now Corporation (OTC: NWPN), a diversified holding company focused on sustainable innovation, is excited to announce the publication of its April 2025 newsletter. The latest edition highlights major advancements in electric vehicle (EV) infrastructure and the continued evolution of its vintage fashion subsidiary.

    The Now Corporate April 2025 Newsletter

    Major Highlights Include:

    EV Charging Project in Carson, CA
    Green Rain Energy, a subsidiary of The Now Corporation, has been selected to lead the development of a cutting-edge EV charging site at 23315 Main Street in Carson, California. Located within proximity to the Dignity Health Sports Park—one of the venues for the 2028 Olympic Games—this project aims to support increasing EV demand and regional sustainability efforts.
    The Now Corporation (OTC: NWPN) Through Its Subsidiary Green Rain Energy Announces New Details For Its EV Charging Project In Carson, CA

    Strategic Collaboration in Rochester, NY
    Green Rain Solar Inc. has also partnered with Chronical Electric and Rochester Gas and Electric (RG&E) to bring high-speed EV charging and battery storage solutions to Rochester, New York. This joint effort underscores The Now Corporation’s mission to advance clean, accessible energy infrastructure.
    The Now Corporation (OTC: NWPN) and Green Rain Solar Inc. Partner with Chronical Electric to Bring High-Speed EV Charging and Battery Storage to Rochester, NY

    Reviving American Heritage through M Love Vintage Holdings Inc.
    The newsletter also spotlights M Love Vintage Holdings Inc., the company’s fashion subsidiary, which is reviving iconic Americana through the timeless styles of Chuck’s Vintage. This effort marks a new era for the brand, celebrating its legacy while embracing a modern, luxurious approach to vintage wear.
    M Love Vintage Holdings Inc. Embarks on New Era of Luxury Vintage Fashion Under The Now Corporation

    About The Now Corporation:
    The Now Corporation is committed to acquiring and developing sustainable technologies across industries such as renewable energy, electric mobility, and advanced manufacturing. Through its subsidiaries, including Green Rain Solar Inc. and M Love Vintage Holdings Inc., the company strives to deliver impactful innovation.

    Stay updated and read the full newsletter at www.GreenRainEnergy.com

    Legal Notice Regarding Forward-Looking Statements
    This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward- looking in nature and subject to risks and uncertainties. This includes the possibility that the business outlined in this press release may not be concluded due to unforeseen technical, installation, permitting, or other challenges. Such forward-looking statements involve risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of The Now Corporation to differ materially from those expressed herein. Except as required under U.S. federal securities laws, The Now Corporation undertakes no obligation to publicly update any forward-looking statements as a result of new information, future events, or otherwise.

    Media Contact:
    Michael Cimino
    Email: Michael@pubcopr.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aa807ee3-5e38-4ca7-9ab3-3f1e90715dbe

    X: https://x.com/TheNow_Corp

    YouTube: https://www.youtube.com/@GreenRainEnergy

    The MIL Network –

  • MIL-OSI: Rebuilding American Industry, One Precision Part at a Time

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, April 24, 2025 (GLOBE NEWSWIRE) — What do you get when you combine a spotless shop floor, a legacy of quality craftsmanship, and an entrepreneur with vision? A modern American Dream in motion.

    Billy Banks, a Chicago-based entrepreneur, father of triplets, and former Northwestern University entrepreneurship professor, has acquired General Machine, a precision manufacturing business based in Freeburg, Illinois. Established in 1980, General Machine has earned its reputation by delivering high-quality custom metal fabrication and machining services to industries such as mining, construction, power generation, and infrastructure.

    A native of Elkhart, Indiana, Banks began his career in the RV industry, learning the fundamentals of American manufacturing firsthand. From there, his journey was anything but linear—spanning corporate roles, startups, and even academia. He first cut his teeth by co-founding M-Tec Corporation, a steel fabrication business servicing the RV, commercial vehicle and trailer industries. Next, he co-founded Reach360, a HR-tech platform focused on providing Fortune 500 HR services and benefits to small businesses. Whether in the classroom or the boardroom, Banks has remained committed to creating opportunity and building things that last.

    “When I was growing up in northern Indiana, I saw what happens when manufacturing disappears—it leaves a void in communities,” said Banks. “But I also saw what’s possible when you reinvest in people and production.”

    That belief led him to acquire General Machine—a business with skilled employees, strong customer relationships, and untapped potential. The acquisition, which included both the business and its real estate, required a creative financing solution. That’s where First American Bank stepped in.

    To overcome high capital barriers, Banks partnered with the bank to structure a deal that leveraged the SBA 7(a) loan program to reduce the down payment, finance goodwill, and support stable cash flow through a 10-year amortization schedule. Working in tandem with GrowthCorp, First American Bank also utilized the SBA 504 program to secure 40% of the project at a fixed 25-year rate—while requiring only a 10% down payment. A working capital line of credit rounded out the financing to support ongoing operations.

    “Billy brought a clear vision, strong experience, and a deep passion for revitalizing American manufacturing,” said Ross Van Beek, Senior Vice President, Commercial Loan Relationship Manager at First American Bank.

    “This is exactly the kind of entrepreneurial story we love to support—because it creates jobs, strengthens communities, and builds the future of American industry.”

    Van Beek, along with colleagues Mark Kroencke and Madelyn McCarthy, played a pivotal role in structuring and closing the transaction.

    Now at the helm, Banks has ambitious plans: double the business in three years—and then do it again.

    He’s building on a rock-solid foundation. General Machine’s capabilities include:

    • Large precision machining for industrial-scale components
    • Welding and fabrication of steel, stainless, and aluminum
    • CNC machining, plasma cutting, and forming for structural and heavy equipment applications
    • Sheet metal and custom part fabrication backed by deep technical expertise

    Banks is already modernizing the company—enhancing digital outreach, deepening customer relationships, and integrating advanced technologies like AI to improve quoting, scheduling, and operational efficiency.

    “General Machine has all the right bones,” said Banks. “Now it’s about honoring what works—craftsmanship, relationships, integrity—while building something even bigger.”

    Thanks to First American Bank’s strategic financial support and Banks’ bold leadership, General Machine is poised to lead the next era of precision manufacturing—one expertly machined part at a time.

    If you’re looking to take your business to the next level with innovative financial solutions, contact First American Bank today. Our team is ready to help you structure the right financing to fuel your growth.

    For more information about First American Bank and its services, visit www.firstambank.com.

    First American Bank is a Member FDIC.

    Contact:
    Teresa Lee
    305-631-6400
    tlee@firstambank.com

    The MIL Network –

  • MIL-OSI: New Digital Platform Offers Comprehensive IP Support to B.C. Businesses

    Source: GlobeNewswire (MIL-OSI)

    Innovate BC’s new IP Hub is a one-stop-shop for innovators to access tailored education and resources that will help them protect and leverage their intellectual property

    VANCOUVER, British Columbia, April 24, 2025 (GLOBE NEWSWIRE) — Launched today, Innovate BC’s new IP Hub digital platform supports B.C. entrepreneurs in developing their understanding of intellectual property (IP) to support the building and implementing of an effective IP strategy to help grow their business.

    Developed as part of the Province of British Columbia’s Intellectual Property Strategy, the free-to-use IP Hub offers a tailored experience that will connect users with information and resources based on an assessment of their current IP competency.

    “B.C.’s Intellectual Property Strategy is about supporting our local businesses by giving them the tools they need to protect, grow and profit from what they create,” said Diana Gibson, Minister of Jobs, Economic Development and Innovation. “The launch of the IP Hub is a key part of that—helping entrepreneurs, researchers, startups and our high potential businesses fully understand their IP, scale their businesses, and keep their talent right here at home in British Columbia.”

    The strategic management of IP is essential for companies developing innovative products or solutions, playing a crucial role in commercialization, increasing revenue, and competitiveness. The IP Hub offers relevant and timely resources that meet the user’s current level of IP comprehension and will provide them with ongoing support to build, implement and expand their own IP strategy.

    Once assessed, users will have access to a wide range of supports that are available within B.C. and across Canada, aligned to their business stage, sector, size, and other characteristics that inform IP strategy. Resources include access to localized IP programming, a calendar of relevant and upcoming IP-focussed events, education materials, and more.

    “Having a clear and proactive intellectual property strategy isn’t just a competitive advantage — it’s a necessity,” said Peter Cowan, President and CEO of Innovate BC. “For innovators and tech companies, IP is often their most valuable asset, protecting innovation, attracting investment, and enabling growth. By bolstering IP capacities here in British Columbia, we’re empowering our startups and scale-ups to thrive, strengthening our innovation ecosystem, and unlocking long-term economic prosperity for communities and industries across the province.”

    The IP Hub is a part of Innovate BC’s suite of IP programs and resources for B.C. companies, which includes AccelerateIP, a program delivered by New Ventures BC that provides innovators with IP-related education, funding, and strategy development.

    To learn more about the IP Hub and to access the platform, visit https://bcip.ca/

    Additional Quotes

    Faisal Khan, Founder + CEO, FMRK Diagnostic Technologies

    “A dynamic IP strategy is the life blood of any 21st century business. It allows you to secure investment capital, protect yourself in the market, recoup your R&D investments and so much more. Companies can never reach their full potential without one.”

    Annie Dahan, Founder at Seacork Studio

    “Developing a robust and actionable IP strategy has been essential to our growth, credibility and our ability to navigate the market.”

    About Innovate BC

    A Crown Agency of British Columbia, Innovate BC works to foster innovation across the province and bolster the growth of the local economy through delivering a wide range of programs that help companies start and scale, access talent and encourage technology development, commercialization, and adoption. Innovate BC also harnesses crucial data collection and research, and works to forge strategic industry and community partnerships that create more opportunities for B.C. innovators.

    MEDIA CONTACT:

    Michael Gleboff
    Communications + Community Manager
    mgleboff@innovatebc.ca
    604–602-5210

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cc76dd29-16d4-414a-bac4-73c4ba5af5df

    The MIL Network –

  • MIL-OSI: Federal Home Loan Bank of Indianapolis Announces First Quarter 2025 Dividends, Reports Earnings

    Source: GlobeNewswire (MIL-OSI)

    INDIANAPOLIS, April 24, 2025 (GLOBE NEWSWIRE) — Today the Board of Directors of the Federal Home Loan Bank of Indianapolis (“FHLBank Indianapolis” or “Bank”) declared its first quarter 2025 dividends on Class B-2 activity-based capital stock and Class B-1 non-activity-based stock at annualized rates of 9.50% and 4.50%, respectively. The higher dividend rate on activity-based stock reflects the Board’s discretion under the Bank’s capital plan to reward members that use FHLBank Indianapolis in support of their liquidity needs.

    The dividends will be paid in cash on April 25, 2025.

    Earnings Highlights

    Net income, for the three months ended March 31, 2025, was $75 million, a net decrease of $20 million compared to the corresponding period in the prior year. The decrease was primarily due to net unrealized losses on qualifying fair-value and economic hedging relationships1, a substantial increase in voluntary contributions to affordable housing and community investment programs, and lower earnings on the portion of the Bank’s assets funded by its capital2, partially offset by higher interest spreads on interest-earning assets, net of interest-bearing liabilities.

    Affordable Housing Program Allocation

    The Bank’s Affordable Housing Program (“AHP”) provides grant funding to support housing for low- and moderate-income families in communities served by its Michigan and Indiana members. For the three months ended March 31, 2025, AHP assessments3 totaled $9 million. Such required allocations will be available to the Bank’s members in 2026 to help address their communities’ affordable housing needs, including construction, rehabilitation, accessibility improvements and homebuyer down-payment assistance.

    In addition, as part of the Bank’s commitment to further support its AHP and additional affordable housing and community investment programs, the Bank voluntarily contributed additional funding, in the three months ended March 31, 2025, totaling $11 million, all of which has been recognized and reported in other expenses.

    The Bank’s combined required and voluntary allocations recognized, in the three months ended March 31, 2025, totaled $20 million, an increase of $5 million, or 35%, compared to the corresponding period in the prior year.

    Condensed Statements of Income

    The following table presents unaudited condensed statements of income ($ amounts in millions):

      Three Months Ended
    March 31,
      2025   2024
    Interest income(a) $ 940   $ 1,016
    Interest expense(a)   814     887
    Provision for credit losses   —     —
    Net interest income after provision for credit losses   126     129
    Other income(b)   —     9
    Other expenses(c)   42     32
    AHP assessments   9     11
           
    Net income $ 75   $ 95

    (a)   Includes hedging gains (losses) and net interest settlements on fair-value hedge relationships. The Bank uses derivatives, specifically interest-rate swaps, to hedge the risk of changes in the fair value of certain of its advances, available-for-sale securities and consolidated obligations. These derivatives are designated as fair-value hedges and, therefore, changes in the estimated fair value of the derivative, and changes in the fair value of the hedged item that are attributable to the hedged risk, are recorded in net interest income.
    (b)   Includes impact of purchase discount (premium) recorded through mark-to-market gains (losses) on trading securities and net interest settlements on derivatives hedging trading securities, while generally offsetting interest income on trading securities is included in interest income.
    (c)   Includes voluntary contributions to the Bank’s AHP and other affordable housing and community investment programs.

    Balance Sheet Highlights

    Total assets, at March 31, 2025, were $80.7 billion, a net decrease of $3.8 billion, or 5%, from December 31, 2024, primarily due to a decrease in liquidity investments.

    Advances 4

    The carrying value of advances outstanding, at March 31, 2025, totaled $38.5 billion, a net decrease of $1.3 billion, or 3%, from December 31, 2024. The par value of advances outstanding decreased by 4% to $38.6 billion, which included a net decrease in short-term advances of 7% and a net decrease in long-term advances of 2%. At March 31, 2025, based on contractual maturities, long-term advances composed 64% of advances outstanding, while short-term advances composed 36%.

    The par value of advances outstanding to depository institutions — comprising commercial banks, savings institutions and credit unions — decreased by 4%, while advances outstanding to insurance companies decreased by 3%. As a percent of total advances outstanding at par value at March 31, 2025, advances to commercial banks and savings institutions were 52% and advances to credit unions were 14%, resulting in total advances to depository institutions of 66%, while advances to insurance companies were 34%.

    In general, advances fluctuate in accordance with members’ funding needs, primarily determined by their deposit levels, mortgage pipelines, loan growth, investment opportunities, available collateral, other balance sheet strategies, and the cost of alternative funding options.

    Mortgage Loans Held for Portfolio 5

    Mortgage loans held for portfolio, at March 31, 2025, totaled $11.4 billion, a net increase of $583 million, or 5%, from December 31, 2024, as the Bank’s purchases from its members exceeded principal repayments by borrowers. Purchases of mortgage loans from members, for the three months ended March 31, 2025, totaled $834 million.

    In general, the Bank’s volume of mortgage loans purchased is affected by several factors, including interest rates, competition, the general level of housing and refinancing activity in the United States, consumer product preferences, the Bank’s balance sheet capacity and risk appetite, and regulatory considerations.

    Liquidity Investments 6

    Liquidity investments, at March 31, 2025, totaled $9.5 billion, a net decrease of $3.5 billion, or 27%, from December 31, 2024. The Bank’s liquidity remained well above regulatory requirements and continues to enable the Bank to be a reliable liquidity provider to its members.

    Cash and short-term investments decreased by $3.5 billion, or 29%, to $8.4 billion. The portion of U.S. Treasury obligations classified as trading securities increased by $7 million, or 1%, to $1.1 billion. As a result of this activity, cash and short-term investments represented 88% of the total liquidity investments at March 31, 2025, while U.S. Treasury obligations represented 12%.

    The total outstanding balance and composition of the Bank’s liquidity investments are influenced by its liquidity needs, regulatory requirements, actual and anticipated member advance activity, market conditions, and the availability of short-term investments at attractive interest rates, relative to the cost of funds.

    Other Investment Securities

    Other investment securities, which consist substantially of mortgage-backed securities and U.S. Treasury obligations classified as held-to-maturity or available-for-sale, at March 31, 2025, totaled $20.6 billion, a net increase of $424 million, or 2%, from December 31, 2024.

    Consolidated Obligations 7

    FHLBank Indianapolis’ consolidated obligations outstanding, at March 31, 2025, totaled $74.6 billion, a net decrease of $3.5 billion, or 4%, from December 31, 2024, which reflected decreased funding needs associated with the net decrease in the Bank’s total assets.

    Capital 8

    Total capital, at March 31, 2025, was $4.2 billion, a net decrease of $48 million, or 1%, from December 31, 2024. The net decrease resulted primarily from the Bank’s repurchases of capital stock, offset by members’ purchases of capital stock to support their advance activity and the Bank’s growth in retained earnings.

    The Bank’s regulatory capital-to-assets ratio9, at March 31, 2025, was 5.52%, which exceeds all applicable regulatory capital requirements.

    Condensed Statements of Condition

    The following table presents unaudited condensed statements of condition ($ amounts in millions):

      March 31, 2025   December 31, 2024
    Advances $ 38,487     $ 39,833  
    Mortgage loans held for portfolio, net   11,379       10,796  
    Liquidity investments   9,451       12,911  
    Other investment securities(a)   20,613       20,189  
    Other assets   781       806  
           
    Total assets $ 80,711     $ 84,535  
           
    Consolidated obligations $ 74,605     $ 78,085  
    MRCS   266       363  
    Other liabilities   1,653       1,852  
    Total liabilities   76,524       80,300  
           
    Capital stock(b)   2,484       2,555  
    Retained earnings(c)   1,707       1,684  
    Accumulated other comprehensive income (loss)   (4 )     (4 )
    Total capital   4,187       4,235  
           
    Total liabilities and capital $ 80,711     $ 84,535  
           
    Total regulatory capital(d) $ 4,457     $ 4,602  
           
    Regulatory capital-to-assets ratio   5.52 %     5.44 %

    (a)   Includes held-to-maturity and available-for-sale securities.
    (b)   Putable by members at par value.
    (c)   Includes restricted retained earnings, at March 31, 2025 and December 31, 2024, of $481 million and $466 million, respectively.
    (d)   Consists of total capital less accumulated other comprehensive income plus mandatorily redeemable capital stock.

    All amounts referenced above are unaudited. More detailed information about FHLBank Indianapolis’ financial condition as of March 31, 2025, and its results for the three months then ended, will be included in Management’s Discussion and Analysis of Financial Condition and Results of Operations in the Bank’s Quarterly Report on Form 10-Q.
    Safe Harbor Statement

    This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 concerning plans, objectives, goals, strategies, future events and performance. Forward-looking statements can be identified by words such as “will,” “believes,” “may,” “temporary,” “estimates,” and “expects” or the negative of these words or comparable terminology. Each forward-looking statement contained in this news release reflects FHLBank Indianapolis’ current beliefs and expectations. Actual results or performance may differ materially from what is expressed in any forward-looking statements.

    Any forward-looking statement contained in this news release speaks only as of the date on which it was made. FHLBank Indianapolis undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Readers are referred to the documents filed by the Bank with the U.S. Securities and Exchange Commission (“SEC”), specifically reports on Form 10-K and Form 10-Q, which include factors that could cause actual results to differ from forward-looking statements. These reports are available at www.sec.gov.

    Media Contact:
    Scott Thien
    Senior Corporate Communications Associate
    317-902-3103
    sthien@fhlbi.com

    Building Partnerships. Serving Communities.
    FHLBank Indianapolis is a regional bank included in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to provide access to low-cost funding for their member financial institutions, with particular attention paid to providing solutions that support the housing and small business needs of members’ customers. FHLBanks are privately capitalized and funded, and receive no Congressional appropriations. FHLBank Indianapolis is owned by its Indiana and Michigan financial institution members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions.

    For more information about FHLBank Indianapolis, visit www.fhlbi.com. Also, follow the Bank on LinkedIn, as well as Instagram and X at @FHLBankIndy. Please note that content the Bank shares on its website and social media is not incorporated by reference into any of its filings with the SEC unless, and only to the extent that, a filing by the Bank with the SEC expressly provides to the contrary.

    1 The Bank’s net gains (losses) on derivatives fluctuate due to volatility in the overall interest-rate environment as the Bank hedges asset or liability risk exposures. In general, the Bank holds derivatives and associated hedged items to the maturity, call, or put date. Therefore, due to timing, nearly all of the cumulative net gains and losses for these financial instruments will generally reverse over the remaining contractual terms of the hedged item. However, there may be instances when the Bank terminates these instruments prior to the maturity, call or put date, which may result in a realized gain or loss.
    2 FHLBank Indianapolis earns interest income on advances to and mortgage loans purchased from its Michigan and Indiana member financial institutions, as well as on long- and short-term investments. Net interest income is primarily determined by the size of the Bank’s balance sheet and the spread between the interest earned on its assets and the interest cost of funding with consolidated obligations. Because of the Bank’s inherent relatively low interest-rate spread, it has historically derived a significant portion of its net interest income from deploying its interest-free capital in floating-rate assets.
    3 Each year, Federal Home Loan Banks are required to allocate to the AHP 10% of earnings, defined for this purpose as income before assessments plus interest expense on mandatorily redeemable capital stock.
    4 Advances are secured loans that the Bank provides to its member institutions.
    5 The Bank purchases mortgage loans from its members to support its housing mission, provide an additional source of liquidity to its members, and diversify its investments.
    6 The Bank’s liquidity investments consist of cash, interest-bearing deposits, securities purchased under agreements to resell, federal funds sold and U.S. Treasury obligations.
    7 The primary source of funds for FHLBank Indianapolis, and for the other FHLBanks, is the sale of FHLBanks’ consolidated obligations in the capital markets. FHLBank Indianapolis is the primary obligor for the payment of the principal and interest on the consolidated obligations issued on its behalf; additionally, it is jointly and severally liable with each of the other FHLBanks for all of the FHLBanks’ consolidated obligations outstanding.
    8 FHLBank Indianapolis is a cooperative whose member financial institutions and former members own all of its capital stock as a condition of membership and to support outstanding credit products.
    9 Total regulatory capital, which consists of capital stock, mandatorily redeemable capital stock and retained earnings, as a percentage of total assets.

    The MIL Network –

  • MIL-OSI: Federal Home Loan Bank of Atlanta Announces First Quarter 2025 Operating Highlights and Declares Dividend

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, April 24, 2025 (GLOBE NEWSWIRE) — Federal Home Loan Bank of Atlanta (the Bank) today released preliminary unaudited financial highlights for the quarter ended March 31, 2025. All numbers reported below for the first quarter of 2025 are approximate until the Bank announces unaudited financial results in its Form 10-Q, which is expected to be filed with the Securities and Exchange Commission (SEC) on or about May 9, 2025.

    Operating Results for the First Quarter of 2025

    • Net interest income for the first quarter of 2025 was $207 million, a decrease of $47 million, compared to net interest income of $254 million for the same period in 2024. The decrease in net interest income was primarily due to a decrease in interest rates and a decrease in average advance balances during the first quarter of 2025 compared to the same period in 2024. Net income for the first quarter of 2025 was $143 million, a decrease of $51 million, compared to net income of $194 million for the same period in 2024. The decrease in net income was primarily due to the decrease in net interest income.
    • For the first quarter of 2025, the Bank continued to meet members’ liquidity demand and average advance balances were $97.1 billion, compared to average advance balances of $103.0 billion for the same period in 2024.
    • The net yield on interest-earning assets for the first quarter of 2025 was 56 basis points, compared to 66 basis points for the same period in 2024. Many of the Bank’s assets and liabilities are indexed to the Secured Overnight Financing Rate (SOFR). Average daily SOFR during the first quarter of 2025 was 4.33 percent compared to 5.31 percent for the same period in 2024.
    • The Bank’s first quarter 2025 performance resulted in an annualized return on average equity (ROE) of 6.82 percent as compared to 9.24 percent for the same period in 2024. The decrease in ROE was primarily due to the decreased net income for the first quarter of 2025 compared to the same period in 2024.

    Financial Condition Highlights

    • Total assets were $146.2 billion as of March 31, 2025, a decrease of $858 million from December 31, 2024.
    • Advances outstanding were $85.7 billion as of March 31, 2025, a decrease of $157 million from December 31, 2024.
    • Total capital was $8.0 billion as of March 31, 2025, an increase of $56 million from December 31, 2024. Retained earnings were $2.8 billion as of March 31, 2025, an increase of $43 million from December 31, 2024.
    • As of March 31, 2025, the Bank was in compliance with all applicable regulatory capital and liquidity requirements.

    Reliable Source of Liquidity

    • During the first quarter of 2025, the Bank originated a total of $75.5 billion of advances, thereby providing significant liquidity to its members to support lending and other activities in their communities. The Bank is proud to continue to execute on its mission to be a reliable source of liquidity and funding for its members, while remaining adequately capitalized.

    Commitment to Affordable Housing and Community Development

    • The Bank commits 10 percent of its income before assessments to support the affordable housing and community development needs of communities served by its members as required by law, which amounted to $77 million for the 2024 statutory Affordable Housing Program (AHP) assessment available for funding in 2025. As of March 31, 2025, the Bank has accrued $16 million to its AHP pool of funds that will be available to the Bank’s members and their communities in 2026 for funding of eligible projects.
    • The Bank has committed to voluntarily contribute, at a minimum, an additional 50 percent of its prior year statutory AHP assessment to affordable housing. For 2025, the Bank authorized $41 million in voluntary housing contributions consisting of $9 million in voluntary non-statutory AHP contributions and $32 million in voluntary non-AHP contributions. These amounts are anticipated to be expensed during 2025.
    • Since the inception of its AHP in 1990, the Bank has awarded more than $1.2 billion in AHP funds, assisting more than 177,000 households.

    Dividends

    • On April 24, 2025, the board of directors of the Bank approved a quarterly cash dividend at an annualized rate of 6.85 percent.  
    • “As we began 2025, the Bank focused on fulfilling our mission by providing significant liquidity to members as well as remaining a reliable partner during a time of economic volatility,” said FHLBank Atlanta Chair of the Board, Thornwell Dunlap. “We are pleased to return a strong dividend to members and appreciate their ongoing trust in FHLBank Atlanta.”
    • The dividend payout will be calculated based on members’ capital stock held during the first quarter of 2025 and will be credited to members’ daily investment accounts at the close of business on April 29, 2025.

    Federal Home Loan Bank of Atlanta
    Financial Highlights
    (Preliminary and unaudited)
    (Dollars in millions)

    Statements of Condition As of March 31, 2025   As of December 31, 2024
      Advances $ 85,672     $ 85,829  
      Investments   59,326       60,084  
      Mortgage loans held for portfolio, net   87       89  
      Total assets   146,233       147,091  
      Total consolidated obligations, net   135,022       135,851  
      Total capital stock   5,164       5,148  
      Retained earnings   2,828       2,785  
      Accumulated other comprehensive loss   (3 )     —  
      Total capital   7,989       7,933  
      Capital-to-assets ratio (GAAP)   5.46 %     5.39 %
      Capital-to-assets ratio (Regulatory)   5.47 %     5.39 %
        Three Months Ended March 31,
    Operating Results and Performance Ratios   2025       2024  
      Net interest income $ 207     $ 254  
      Standby letters of credit fees   4       4  
      Other income   1       2  
      Total noninterest expense (1)   53       44  
      Affordable Housing Program assessment   16       22  
      Net income   143       194  
      Return on average assets   0.38 %     0.50 %
      Return on average equity   6.82 %     9.24 %

    __________
    (1) Total noninterest expense includes voluntary housing and community investment contributions of $11 million and $5 million for the first quarter of 2025 and 2024, respectively.

    The selected financial data above should be read in conjunction with the financial statements and notes and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Bank’s First Quarter 2025 Form 10-Q expected to be filed with the SEC on or about May 9, 2025, which will be available at www.fhlbatl.com and on www.sec.gov.

    About Federal Home Loan Bank of Atlanta

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

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

    To the extent that the statements made in this announcement may be deemed as “forward-looking statements”, they are made within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, which include statements with respect to the Bank’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties, and other factors, many of which may be beyond the Bank’s control, and which may cause the Bank’s actual results, performance, or achievements to be materially different from the future results, performance, or achievements expressed or implied by such forward-looking statements, and the reader is cautioned not to place undue reliance on them, since those may not be realized due to a variety of factors, including, without limitation: legislative, regulatory and accounting actions, changes, approvals or requirements; completion of the Bank’s financial closing procedures and final accounting adjustments for the most recently completed quarter; SOFR variations; changes to economic, liquidity and market conditions; changes in demand for advances, advance levels, consolidated obligations of the Bank and/or the FHLBank System and their market; changes in interest rates; changes in prepayment speeds, default rates, delinquencies, and losses on mortgage-backed securities; volatility of market prices, rates and indices that could affect the value of financial instruments; changes in credit ratings and/or the terms of derivative transactions; changes in product offerings; political, national, climate, and world events; disruptions in information systems; membership changes; mergers and acquisitions involving members; changes to the Bank’s voluntary housing program and other adverse developments or events, including extraordinary or disruptive events, affecting the market, involving other Federal Home Loan Banks, their members or the FHLBank System in general, including acts or war and terrorism. Additional factors that might cause the Bank’s results to differ from forward-looking statements are provided in detail in our filings with the Securities and Exchange Commission, which are available at www.sec.gov.

    The forward-looking statements in this release speak only as of the date that they are made, and the Bank has no obligation and does not undertake to publicly update, revise, or correct any of these statements after the date of this announcement, or after the respective dates on which such statements otherwise are made, whether as a result of new information, future events, or otherwise, except as may be required by law. New factors may emerge, and it is not possible for us to predict the nature of each new factor, or assess its potential impact, on our business and financial condition. Given these uncertainties, we caution you not to place undue reliance on forward-looking statements.

    CONTACT: Sheryl Touchton
    Federal Home Loan Bank of Atlanta
    stouchton@fhlbatl.com
    404.716.4296

    The MIL Network –

  • MIL-OSI: XRP News: XRP Community Goes Wild As Rush To Join XenDex’s $XDX Presale Intensifies

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, Australia, April 24, 2025 (GLOBE NEWSWIRE) — The buzz is undeniable as XenDex officially ignites a new wave of excitement on the XRP Ledger. Just days after launching, the first all-in-one decentralized exchange on XRP Ledger is already making headlines, with thousands of users flooding into its community channels and early participants racing to secure their place in the project’s rapidly moving XDX presale.

    With lending & borrowing, AI-powered copy trading, staking, and cross-chain functionality, XenDex is delivering what the XRP ecosystem has long been missing. And crypto investors are taking notice.

    Buy $XDX Now!

    According to XenDex’s spokesperson, “People aren’t just supporting XenDex, they’re becoming obsessed with it. This is XRP’s DeFi moment, and the entire community knows it,”

    The $XDX token presale is officially live and demand is soaring.

    The exchange rate for the XenDex presale is set at 1 XRP for 10 XDX tokens. To participate, the minimum purchase amount is 150 XRP, which gives buyers 1,500 XDX. The project has established a soft cap of 30,000 XRP to ensure strong initial liquidity and market traction.

    Early buyers are rushing in to take advantage of the low entry point before price pressure sets in. As the presale fills, $XDX becomes increasingly scarce and valuable, fueling even more demand.

    Purchase XDX Now at The Lowest Price

    Why Do Investors Love XenDex?

    Unlike anything built on XRP before, XenDex offers:

    • Real utility with low fees and lightning speed
    • Lending & borrowing without intermediaries
    • AI-assisted trading tools that mirror pro strategies
    • Governance, staking, and yield farming — all in one app
    • A clean, fast UI that even Web2 onborders love

    The result? A growing legion of XRP holders who are not just using XenDex, investors are rallying around it.

    Thousands have already joined the XenDex community across Telegram and Twitter. And with features rolling out and listings on the horizon, FOMO is building by the minute.

    Participate in XDX Presale

    The clock is ticking. The presale is live. The community is growing fast. Don’t wait to watch it happen — be part of it.

    Website: https://xendex.net
    Buy $XDX Presale: https://xendex.net/presale/
    Telegram: https://t.me/XenDexCommunity
    Twitter: https://x.com/XenDex_XRP
    XDX Doc: https://xdxdoc.gitbook.io

    Contact:
    Frank Richards
    Frank@xendex.net

    Disclaimer: This is a paid post provided by XenDex. 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/8fbb673f-6267-40c0-8d0a-c022ae0c486f

    The MIL Network –

  • MIL-OSI: Aemetis India Begins Biodiesel Shipments to Oil Marketing Companies under $31 Million Allocation For the Next Three Months

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, Calif., April 24, 2025 (GLOBE NEWSWIRE) — Aemetis, Inc. (NASDAQ: AMTX), a diversified global renewable natural gas and biofuels company, announced the Company’s subsidiary in India, Universal Biofuels, today began shipments to fulfill multiple orders for more than 33,000 kiloliters of biodiesel from the government-owned Oil Marketing Companies (OMCs) for an aggregate of $31 million for delivery during May, June, and July. 

    Additional OMC orders are expected throughout the year to continue shipments to fuel blending terminals on an ongoing basis to support the India government goal of increasing from a 1% to 5% biodiesel blend. A 5% biodiesel blend is approximately 1.2 billion gallons, a significant increase from less than a 1% blend of biodiesel that is currently used in India.

    “We are pleased with the expanded commitment to biofuels that is being shown by the India government, including the achievement of a 20% blend of ethanol and new goals including a 30% ethanol blend,” stated Eric McAfee, Chairman and CEO of Aemetis. “We began our biodiesel shipments today from inventory to quickly ramp up to $10 million per month of shipments and fulfill the $31 million of new orders from OMCs for biodiesel over the next three months. We have already made the capital investments that allow us to quickly increase production volumes as new orders are issued by the OMCs.”

    Recently, India has stated plans for further growth in the use of biofuels, expanding revenues for farmers while reducing the importation of petroleum gasoline into India. India’s strong commitment to expanding biofuels markets supports the Aemetis India business plan for further expansion and a planned Initial Public Offering (IPO), subject to continued favorable stock market conditions.

    Universal Biofuels completed $112 million of biodiesel and glycerin shipments in the twelve months ended September 2024, including deliveries to the three government-owned oil marketing companies under a cost-plus contract. During a recent plant upgrade and maintenance period, Universal Biofuels expanded the production capacity of its proprietary process that produces biodiesel from waste and byproducts that Universal utilizes to produce biofuels that are lower carbon intensity at a significantly reduced cost.

    Aemetis’ Universal Biofuels subsidiary is one of the largest biodiesel producers in India, having been in operation for more than 17 years. Universal Biofuels increased its annual biodiesel production capacity from 60 million gallons to 80 million gallons in the past year, with further biodiesel expansion to other locations and diversification into biogas production planned during the next twelve months.

    About Aemetis

    Headquartered in Cupertino, California, Aemetis is a renewable natural gas and biofuels company focused on the operation, acquisition, development, and commercialization of innovative technologies that support energy independence and security. Founded in 2006, Aemetis operates and is expanding a California biogas digester network and pipeline system to convert dairy waste into renewable natural gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that also supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year biofuels facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel biorefinery and a carbon sequestration project in California. For additional information about Aemetis, please visit www.aemetis.com.

    Safe Harbor Statement

    This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results; IPO plans; statements related to the development, engineering, financing, construction, timing, and operation of biodiesel, biogas, sustainable aviation fuel, CO2 sequestration, and other facilities; our ability to promote, develop, finance, and construct such facilities; and statements about future market prices and results of government actions. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to many risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to government policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

    Company Investor Relations
    Media Contact:
    Todd Waltz
    (408) 213-0940
    investors@aemetis.com

    External Investor Relations
    Contact:
    Kirin Smith
    PCG Advisory Group
    (646) 863-6519
    ksmith@pcgadvisory.com

    The MIL Network –

  • MIL-OSI: Texas Ventures Acquisition III Corp Completes $225 Million Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, April 24, 2025 (GLOBE NEWSWIRE) — Texas Ventures Acquisition III Corp (the “Company”) announced today the closing of its initial public offering of 22,500,000 units, which includes 2,500,000 units issued pursuant to the partial exercise by the underwriters of their over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $225,000,000.

    The Company’s units began trading on April 23, 2025 on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “TVACU.” Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “TVA” and “TVACW,” respectively.

    Of the proceeds received from the consummation of the initial public offering (including the partial exercise of the over-allotment option) and a simultaneous private placement of warrants, $226,125,000 (or $10.05 per unit sold in the offering) was placed in trust.

    The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business, industry or geographical location. The Company’s primary focus, however, will be on targets focused on industrial technology, specifically companies implementing advanced technologies including software, mobile and IoT applications, digital and energy transition and consolidation, logistics and transportation, cloud and cyber communications as well as high bandwidth services, including LTE, remote sensing and 5G communications into the industrial sector. The Company will pursue completing a business combination with a target that presents a significant value proposition to its customer marketplace, including major cost reductions in the field, substantial returns on investment (ROI), a considerable decrease in carbon footprint, and/or vast improvements in safety, compliance, and environmental protocol.

    The Company’s management team is led by E. Scott Crist, its Chief Executive Officer and Chairman of the Board of Directors (the “Board”), and R. Greg Smith, its Chief Financial Officer. The Board also includes Andrew Clark, Harvin Moore, and Aruna Viswanathan.

    Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, acted as the lead book-running manager, and Clear Street LLC acted as joint book-runner for the offering.

    A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on April 22, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    FORWARD-LOOKING STATEMENTS

    This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds thereof. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Company Contact:

    Texas Ventures Acquisition III Corp
    E. Scott Crist
    scott@texasventures.com
    713-599-1300

    The MIL Network –

  • MIL-OSI: Lectra: Q1 2025 financial report available

    Source: GlobeNewswire (MIL-OSI)

    Q1 2025 financial report available

    Paris, April 24, 2025 – Lectra informs its shareholders, in compliance with Article 221-4-IV of the General Regulation of the Autorité des marchés financiers, that the Management Discussion and Analysis of Financial Condition and Results of Operations for the first quarter 2025 is available on the company’s website: www.lectra.com

    It is also available, upon request, by email: investor.relations@lectra.com

            .

    About Lectra :

    At the forefront of innovation since its founding in 1973, Lectra provides industrial intelligence technology solutions—combining software in SaaS mode, cutting equipment, data, and associated services—to players in the fashion, automotive and furniture industries. With boldness and passion, Lectra accelerates the transformation and success of its customers in a world in perpetual motion thanks to the key technologies of Industry 4.0: AI, big data, cloud and the Internet of Things. 

    The Group is present in more than one hundred countries. It operates three production sites for its cutting equipment, located in France, China and the United States. Lectra’s 3,000 employees are driven by three core values: being open-minded thinkers, trusted partners and passionate innovators. They all share the same concern for social responsibility, which is one of the pillars of Lectra’s strategy to ensure its sustainable growth and that of its customers.

    Lectra reported revenues of €527 million in 2024, including €77 million coming from its SaaS offerings. The company is listed on Euronext, and is included in the CAC All Shares, CAC Technology, EN Tech Leaders and ENT PEA-PME 150 indices.

    For more information, please visit lectra.com. 

    Lectra – World Headquarters et siège social : 16–18, rue Chalgrin • 75016 Paris • France
    Tél. +33 (0)1 53 64 42 00 – lectra.com
    Société anonyme au capital de 37 966 274 €. RCS Paris B 300 702 305

    Attachment

    The MIL Network –

  • MIL-OSI: Atos completes reverse stock split

    Source: GlobeNewswire (MIL-OSI)

    Press release

    Atos completes reverse stock split

    Paris, France – April 24, 2025 – Atos SE (the “Company”) announces today the completion of the reverse stock split of the shares comprising its share capital, as decided by the Board of Directors on March 6, 2025, following the delegation of powers by the shareholders’ combined General Meeting of January 31, 2025 (29th resolution).

    The reverse stock split is a purely technical exchange transaction with no direct impact on the total value of the Company’s shares held by each shareholder.

    Terms and conditions of the reverse stock split

    The main terms of this reverse stock split, as detailed in the notice of reverse stock split published in the Bulletin des Annonces Légales Obligatoires (BALO) on March 10, 2025 and in the press release published by the Company on March 7, 2025, are as follows:

    • Basis of the reverse stock split: exchange of 10,000 old shares with a par value of €0.0001 for 1 new share with a par value of €1.
    • Number of old shares subject to the reverse stock split: 190,358,728,519 shares with a par value of 0.0001€.
    • Number of new shares resulting from the reverse stock split: 19,035,872 shares with a par value of 1€.
    • Centralization: the new shares resulting from the reverse stock split were admitted to trading on the regulated market of Euronext in Paris from April 24, 2025, the first day of trading, under ISIN code FR001400X2S4.

    The new shares resulting from the reverse stock split are eligible for the DSS (Deferred Settlement Service) with effect from today.

    Shareholders holding a multiple of 10,000 shares do not need to take any action. These shares were automatically consolidated by their financial intermediary on the basis of 1 new share (€1 par value) for each block of 10,000 old shares (€0.0001 par value).

    Shareholders who were unable to obtain a number of old shares forming a multiple of 10,000 will be compensated for their fractional rights by their financial intermediary within 30 days of April 24, 2025, i.e., until May 25, 2025 inclusive. Shareholders are invited to contact their financial intermediary if they have any questions on this subject.

    Adjustment of the exercise parity for the Warrants issued by the Company

    On March 6, 2025, the Board of Directors, using the delegation of powers granted by the shareholders’ combined General Meeting of January 31, 2025 (29th resolution), decided to adjust the exercise parity of the share subscription warrants issued by the Company on December 18, 2024 (the “Warrants”) in accordance with the terms set out below, which are included in the reverse stock split notice published in the BALO on March 10, 2025.

    As a result of the reverse stock split, the exercise parity of the Warrants corresponds to the product of (i) the exercise parity in force before the start of the reverse stock split and (ii) the ratio between the number of new shares comprising the Company’s share capital after the reverse stock split and the number of old shares comprising the Company’s share capital before the reverse stock split, i.e. 1/10,000, i.e. a maximum number of new ordinary shares to which the Warrants give entitlement in the event of exercise after this reverse stock split, of 1,107,589 new ordinary shares in the Company with a par value of one euro each on exercise of the Warrants.

    Adjustment of the rights of beneficiaries of free allocations of shares

    By decision of the Chairman and Chief Executive Officer of April 24, 2025, the rights of beneficiaries of free share allocations under the Company’s current free share allocation plans were adjusted to take account of reverse stock split transactions.

    As a result, the number of rights allocated to each plan beneficiary will correspond to the product of (i) the number of rights allocated to each plan beneficiary before the start of the reverse stock split, and (ii) the ratio between the number of new shares comprising the Company’s share capital after the reverse stock split and the number of existing shares comprising the Company’s share capital before the reverse stock split, i.e. 1/10,000, it being specified that where the number of rights calculated in this way is not a whole number, the number of rights allocated to the beneficiary will, for each holder, be rounded down to the nearest whole number, in accordance with the doctrine of the tax authorities.

    Timetable of upcoming operations

    April 24, 2025 Effective date of the reverse stock split and first day of trading of new shares (ISIN code: FR001400X2S4)
    From April 24 to May 25, 2025 Compensation period for shareholders with fractional rights through their financial intermediaries
    April 28, 2025 Restart of the period of suspension of exercise of the Warrants

    ***

    About Atos

    Atos is a global leader in digital transformation with circa 74,000 employees and annual revenue of circa €10 billion. European number one in cybersecurity, cloud and high-performance computing, the Group provides tailored end-to-end solutions for all industries in 68 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos is a SE (Societas Europaea) and listed on Euronext Paris.

    The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

    Contacts
    Investor relations:

    David Pierre-Kahn | investors@atos.net | +33 6 28 51 45 96

    Sofiane El Amri | investors@atos.net | +33 6 29 34 85 67

    Individual shareholders: +33 8 05 65 00 75

    Press contact: globalprteam@atos.net

    Attachment

    The MIL Network –

  • MIL-OSI: Landmark Bancorp, Inc. Announces Conference Call to Discuss First Quarter 2025 Earnings

    Source: GlobeNewswire (MIL-OSI)

    Manhattan, KS, April 24, 2025 (GLOBE NEWSWIRE) — Landmark Bancorp, Inc. (Nasdaq: LARK) announced that it will release earnings for the first quarter of 2025 after the market closes on Wednesday, April 30, 2025. The Company will host a conference call to discuss these results on Thursday, May 1, 2025 at 9:30 am (CT). Investors may listen to the Company’s earnings call via telephone by dialing (833) 470-1428 and using access code 866149. Investors are encouraged to call the dial-in number at least 5 minutes prior to the scheduled start of the call.

    A replay of the earnings call will be available through May 8, 2025, by dialing (866) 813-9403 and using access code 282640.
            
    About Landmark

    Landmark Bancorp, Inc., the holding company for Landmark National Bank, is listed on the NASDAQ Global Market under the symbol “LARK.” Headquartered in Manhattan, Kansas, Landmark National Bank is a community banking organization dedicated to providing quality financial and banking services. Landmark National Bank has 29 locations in 23 communities across Kansas: Manhattan (2), Auburn, Dodge City (2), Fort Scott (2), Garden City, Great Bend (2), Hoisington, Iola, Junction City, LaCrosse, Lawrence (2), Lenexa, Louisburg, Mound City, Osage City, Osawatomie, Overland Park, Paola, Pittsburg, Prairie Village, Topeka (2), Wamego and Wellsville, Kansas. Visit www.banklandmark.com for more information.

    Contact:
    Mark A. Herpich
    Chief Financial Officer
    (785) 565-2000

    The MIL Network –

  • MIL-OSI: WENDEL: Q1 2025 Trading update

    Source: GlobeNewswire (MIL-OSI)

    Q1 2025 NAV per share at €176.7

    Continued strategic deployment :

    €34bn of private Assets under Management for third parties

    Solid financial structure:
    Strong liquidity and LTV ratio at 17.2%

    Fully diluted Net Asset Value1as of March 31, 2025: €176.7 per share

    • Fully diluted NAV per share down -4.8% since the start of the year reflecting market volatility and evolution of valuation multiples:
      • Listed assets (29% of Gross Asset Value): flat total value year-to-date
      • Unlisted assets (33% of GAV): total value down 7.3%, mainly due to lower market multiples
      • Following the acquisition of Monroe Capital, Asset Management now represents 17% of GAV

    Good performance of Group companies in Q1 20205

    • Principal investments: all Group companies generated positive total sales growth in Q1, except Scalian

    Asset management: good momentum in fundraising and revenue growth

    • IK Partners’ revenues up +33% in Q1. Successful closing of the IK X flagship fund at €3.3 billion, the largest fund raised in its history and continued momentum in fundraising of IK Small & Dev Cap
    • Altogether IK Partners and Monroe have successfully raised more than €3 billion of new funds on various strategies over Q1 2025

    Successful implementation of new strategic directions

    • Principal Investments: successful Forward Sale of 6.7% of Bureau Veritas’ share capital, at a price of €27.25 per share on March 12, 2025
      • Wendel entered into a call spread transaction to benefit from up to c.15% of the stock price appreciation over the next three years on the equivalent number of shares underlying the Forward Sale Transaction
      • Total net proceeds for Wendel of €750 million
      • Wendel has retained 26.5% of the share capital and 41.2% of the voting rights of Bureau Veritas
    • Asset Management: With Monroe Capital acquisition, Wendel’s third party asset management platform reached €34 billion in AUM2
      • On March 31, 2025, Wendel has invested $1.133 billion to acquire 72% of Monroe Capital’s shares together with rights to c.20% of the carried interest generated on past and future funds

    Dividend: €4.70 per share, up 17.5%, proposed to May 15, 2025, AGM

    • c.2.5% of NAV as of December 31, 2024, as stated in the strategic roadmap
    • Representing a yield of c. 5.5% compared to the current share price4

    Strong financial structure and committed to remaining Investment Grade

    • Debt maturity of 3.4 years with an average cost of 2.4%
    • LTV ratio at 17.2%5 as of March 31, 2025, on a pro forma basis
    • Pro forma total liquidity of €1.76 billion as of March 31, 2025, including c.€800 million in cash and €875 million in committed credit facility (fully undrawn)
    • On March 31, 2025, S&P revised Wendel outlook to ‘Stable’ from ‘Negative’ on debt reduction and reaffirmed its ‘BBB’ rating
    Laurent Mignon, Wendel Group CEO, commented:

    “The first quarter of 2025 marks a significant milestone for Wendel, with the successful closing of Monroe Capital’s acquisition, materializing our strategy to grow third-party asset management alongside our principal investment activity. With €34 billion of assets under management and €3.4 billion raised in Q12025 now with Monroe Capital and IK Partners, we are building a strong and significant Asset management player generating recurring and predictable income, enhancing significantly Wendel’s value creation profile.

    We also successfully completed a forward sale of Bureau Veritas shares, achieved in good conditions, generating €750M of proceeds, that, combined with our financial discipline, contributed to significantly improve of our LTV ratio. This strengthened financial profile is a key lever to successfully deliver our 2027 value creation roadmap. Our teams remain fully mobilized to generate value through the current portfolio and put in place the asset management platform.”

    Wendel’s net asset value as of March 31, 2025: €176.7 per share on a fully diluted basis

    Wendel’s Net Asset Value (NAV) as of March 31, 2025, was prepared by Wendel to the best of its knowledge and on the basis of market data available at this date and in compliance with its methodology.

    Fully diluted Net Asset Value was €176.7 per share as of March 31, 2025 (see detail in the table below), as compared to €185.7 on December 31, 2024, representing a decrease of -4.8% since the start of the year. Compared to the last 20-day average share price as of March 31, the discount to the March 31, 2025, fully diluted NAV per share was -47.9%.

    Bureau Veritas contributed negatively to Net Asset Value, as end of March 2025, its 20-day average share price was down YTD (-3.2%). IHS Towers (+37.2%) and Tarkett (+55.5%) 20-day average share prices impacted positively the NAV. Total value creation per share of listed assets was therefore neutral (+€0.0) on a fully diluted basis over the first quarter.

    Unlisted asset contribution to NAV was negative over the course of the quarter with a total change per share of -€6.5 reflecting overall multiples’ decrease.

    Asset management activities contribution to NAV was slightly negative, -€0.8, due to IK Partners multiples’ evolution. A total of €29M of sponsor money is included in the NAV as of end of March, both for IK Partners and Monroe.

    Cash operating costs, Net Financing Results and Other items impacted NAV by -€1.7, as Wendel benefits from a positive carry and maintains a good cost control.

    Total Net Asset Value evolution per share amounted to -€9.0 since the start of the year.

    Fully diluted NAV per share of €176.7 as of March 31, 2025

    (in millions of euros)     03/31/2025 12/31/2024
    Listed investments Number of shares Share price (1) 2,965 3,793
    Bureau Veritas 89.9m(2)/120.3m €28.5/€29.5 2,565 3,544
    IHS 63.0m/63.0m $4.4/$3.2 254 192
    Tarkett   €16.4/€10.5 146 57
    Investment in unlisted assets (3) 3,346 3,612
    Asset Management Activities (4) 1,778 616
    Asset Managers (IK Partners & Monroe) 1,749 616
    Sponsor Money 29 –
    Other assets and liabilities of Wendel and holding companies (5) 161 174
    Net cash position & financial assets (6) 2,058 2,407
    Gross asset value     10,308 10,603
    Wendel bond debt     -2,378 -2,401
    IK Partners transaction deferred payment and Monroe earnout -244 -131
    Net Asset Value     7,686 8,071
    Of which net debt     -564 -124
    Number of shares     44,461,997 44,461,997
    Net Asset Value per share €172.9 €181.5
    Wendel’s 20 days share price average   €92.0 €93.5
    Premium (discount) on NAV -46.8% -48.5%
    Number of shares – fully diluted 42,456,176 42,466,569
    Fully diluted Net Asset Value, per share €176.7 €185.7
    Premium (discount) on fully diluted NAV -47.9% -49.6%

    (1)  Last 20 trading days average as of March 31, 2025, and December 31, 2024.
    (2)  Number of shares adjusted from the Forward Sale Transaction of 30,357,140 shares of Bureau Veritas. The value of the call spread transaction to benefit from up to c.15% of the stock price appreciation on the equivalent number of shares is taken into account in Other assets & liabilities.
    (3)  Investments in unlisted companies (Stahl, Crisis Prevention Institute, ACAMS, Scalian, Globeducate, Wendel Growth). Aggregates retained for the calculation exclude the impact of IFRS16.
    (4)  Investment in IK Partners (excl. Cash to be distributed to shareholders), in Monroe and sponsor money.
    (5)  Of which 2,005,821 treasury shares as of March 31, 2025, and 1,995,428 as of December 31, 2024.
    (6)  Cash position and short-term financial assets of Wendel & holdings.
    Assets and liabilities denominated in currencies other than the euro have been converted at exchange rates prevailing on the date of the NAV calculation.
    If co-investment and managements LTIP conditions are realized, subsequent dilutive effects on Wendel’s economic ownership are accounted for in NAV calculations. See page 285 of the 2024 Registration Document.

    Wendel’s Principal Investments’ portfolio rotation

    On March 12, 2025, Wendel realized a successful placement of Bureau Veritas shares as part of a prepaid 3-year forward sale representing approximately 6.7% of Bureau Veritas share capital and increased its financial flexibility by reducing the pro forma loan-to-value ratio to approximately 17%. The transaction immediately generated net cash proceeds of approximately €750M to Wendel.

    Wendel reinvested €11.5m in Scalian upon the acquisition of a specialized IT services player focused on the Defense sector in January 2025.

    Wendel’s Asset Management platform evolution

    Acquisition of a controlling stake in Monroe Capital LLC closed, a transformational transaction in line with the strategic roadmap

    Wendel completed on March 31, 2025 the definitive partnership agreement including the acquisition, together with AXA IM Prime, of 75% of Monroe Capital LLC (“Monroe Capital” or “the Company”), and a sponsoring program of $800 million to accelerate Monroe Capital’s growth, together with an investment of up to $200 million in GP commitment.

    With IK Partners and Monroe Capital, Wendel’s third party asset management platform reached €34 billion in AUM7, and should generate, on a full-year basis, c.€ 455 million revenues8, c.€160 million pre-tax FRE (c.€100 million in pre-tax FRE (Wendel share) in 2025. Wendel’s ambition is to reach €150 million (Wendel share) in pre-tax FRE in 2027.

    Strong value creation and performance of Third Party Asset Management (17% of Gross Asset Value)

    Q1 2025 performance

    Over the first quarter of 2025, IK Partners registered again particularly strong levels of activity, generating a total of €46.4 million in revenue, up 33 % vs. Q1 2024. Total Assets under Management (€14.9 billion, of which €4.8 billion of Dry Powder9) grew by 8% since the beginning of the year, and FPAuM10 (€10.2 billion) by 2%. Over the period, €0.64 billion of new funds were raised (IK X, IK PF III, IK SC IV and IK CV I) and 2 exits have been realized, for over €0.26 billion.

    As of March 31, 2025, Wendel’s third party asset management platform11 represented total assets under management of €34 billion and achieved €3.4 billion of fundraising.

    Sponsor money invested by Wendel

    Wendel committed €500 million in IK Partners funds (of which €300 million in IK X). As of March 31, 2025, €29 million of sponsor money have been called in IK Partners and Monroe Capital funds.

    Principal Investment companies’ sales

    Listed Assets: 29% of Gross Asset Value

    Bureau Veritas – A robust first quarter and an unchanged 2025 outlook; Increased returns to shareholders with a €200m share buyback program
    (full consolidation)

    Bureau Veritas revenue in the first quarter of 2025 amounted to €1,558.7 million, an 8.3% increase compared to the first quarter of 2024. Bureau Veritas delivered an organic growth of 7.3%.
    Three businesses led the growth: Industry, up 14.3%, Marine & Offshore, up 11.8%, and Certification, up 10.9%. Agri-Food & Commodities grew 6.0% while both Consumer Products Services and Buildings & Infrastructure grew low-single-digit organically in the first quarter of 2025.
    The scope effect was a positive 1.4%, reflecting bolt-on acquisitions (contributing to +3.0%) finalized in the past few quarters and partly offset by the impact of divestments completed over the last twelve months (contributing to -1.6%). Currency fluctuations had a negative impact of 0.4%, due to the strength of the euro against most currencies.

    2025 Share buyback program
    On April 24, 2025, Bureau Veritas announces a new EUR 200 million share buyback program to be completed by the end of June 2025. This decision reflects the Group’s confidence in its resilient business model and takes advantage of the current share price.

    2025 Outlook unchanged

    • While customers are navigating an uncertain period, Bureau Veritas has a robust opportunities pipeline, a solid backlog, and mid-to-long-term strong market fundamentals. Therefore, Bureau Veritas keeps its outlook unchanged, and expects to deliver for the full year 2025: Mid-to-high single-digit organic revenue growth;
    • Improvement in adjusted operating margin at constant exchange rates;
    • Strong cash flow, with a cash conversion12 above 90%.

    For more information: https://group.bureauveritas.com

    IHS Towers – IHS Towers will report its Q1 results in May 2025

    Tarkett reported its Q1 on April 17, 2025

    For more information: https://www.tarkett-group.com/en/investors/

    Unlisted Assets: 33% of Gross Asset Value

      Sales (in millions)
      Q1 2024 Q1 2025
    Stahl €225.6 €231.0
    CPI $29.0 $30.7
    ACAMS $20.7 $22.0
    Scalian €140.6 €131.8
    Globeducate (1) n/a €109.6

    (1)   Indian operations are deconsolidated and accounted for by the equity method due to the absence of audited figures. 3 months revenue from December 1, 2024, to February 28, 2025.

    Stahl – Total sales13up +2.4% in Q1 2025, in challenging market conditions
    (full consolidation)

    Stahl, the world leader in specialty coatings for flexible materials, posted total sales of €231.0 million in Q1 2025, representing a total increase of +2.4% versus Q1 2024.

    Q1 2025 was marked by increased levels of market uncertainty driven by geopolitical and trade tensions. Organic growth was -5.4%, against a high comparison basis with Q1 2024 (when sales grew organically by +9.8%). Scope contributed positively by +8.1% thanks to the Weilburger Graphics acquisition completed in September 2024, while FX was negative (-0.3%).

    Proforma for the sale of the wet-end leather chemicals activities, total growth over the quarter would have been +6.0%.

    Crisis Prevention Institute – Revenue growth of +5.8% as compared with Q1 2024

    (full consolidation)

    Crisis Prevention Institute recorded first quarter 2025 revenue of $30.7 million, up +5.8% vs. Q1 2024. Of this increase, +5.3% was organic growth, -0.9% came from FX movements and +1.4% from scope effect. Despite ongoing federal oversight and funding uncertainty for some of CPI’s customers, staff training sessions have continued to grow, however customers have been slower to add or replace new certified instructors during this period of uncertainty.

    On January 21, 2025, CPI announced the acquisition of Verge, a Norwegian leader in behavior intervention and training. This acquisition extends CPI’s presence in the Nordics, and enhances CPI’s ability to support professionals worldwide, leveraging Verge’s innovative techniques to address challenging behaviors, aggression and violence.

    ACAMS – Total sales up +6.4% in Q1, reflecting double-digit growth in the core North American segment as well as continued momentum in the conference sponsorship & exhibition business

    (full consolidation)

    ACAMS, the global leader in training and certifications for anti-money laundering and financial-crime prevention professionals, generated total revenue of $22.0 million, up +6.4% compared to the first quarter of 202414. First-quarter results were driven by double-digit growth in the core North American segment, with both bank and non-bank customers, as well as improved conference sponsorship & exhibition sales, offset by headwinds in select EMEA and APAC markets.

    Q1 growth reflects momentum from recent strategic and organizational changes including the senior leadership additions in 2024, a shift in focus to selling solutions for large enterprise customers, market expansion with the introduction of the Certified Anti-Fraud Specialist certification (CAFS), and investments in the technology platform. ACAMS anticipates continued growth in 2025 as these strategic changes and investments take hold.

    Scalian – Decrease of total sales of -6.3% in Q1 2025, in the context of continued market growth slowdown. Acquisition of a French IT services specializing in the defense sector in January 2025.

    (full consolidation)  

    Scalian, a leading consulting firm in digital transformation and operational performance reported total sales of €131.8M as of March 31, 2025, a -6.3% decrease vs. last year. The slowdown is spread across several sectors and geographies particularly automotive in Europe and Aeronautics (supply chain disruptions). Sales are down -11.2% organically but have benefited from a positive scope effect of +4.9%.

    In January 2025, Scalian completed the acquisition of a French IT services specialist. The acquisition was funded through shareholders’ equity contribution, including a €11.5m equity injection from Wendel in Scalian. This acquisition further reinforces Scalian’s unique positioning in the OT/IT space and is fully in line with the buy-and-build strategy implemented by the Group and which has resulted in the acquisitions of Yucca in 2023 as well as Mannarino and Dulin in 2024.

    Globeducate – Revenue growth of +11%15

    (Accounted for by the equity method. Globeducate acquisition was completed on October 16th, 2024. Indian operations are deconsolidated and accounted for by the equity method due to the absence of audited figures. 3 months revenue from December 1, 2024- February 28, 2025.)

    Globeducate, one of the world’s leading bilingual K-12 education groups, recorded first quarter 2025 revenue of €109.6 million, up +11% vs. Q1 2024. Of this increase, +3.5% came from accretive M&A transactions.

    Over September and November 2024, Globeducate completed 2 acquisitions:1 in Cyprus (Olympion School) and 1 in the UK (Ecole des Petits).

    Preliminary estimated impact of new tariffs on Wendel’s businesses

    Wendel Group’s companies are mainly business services, and are therefore only slightly directly impacted by conflicts over tariffs. For industrial companies (Stahl and Tarkett), these two companies have production units generally located in the countries in which they generate their revenues. According to the information available, the direct impact for these two companies is limited. The lack of visibility on the evolution of tariffs, as well as their real impact on global economic growth and USD exchange rates, constitute the main risk on the value creation potential of our assets.

    1 Fully diluted of share buybacks and treasury shares. Without adjusting for dilution, NAV stands at €7,719m and €173.6 per share.
    2 As of end of March 2025, AuM of IK Partners and Monroe Capital

    3 This amount includes usual closing adjustments

    4 Share price as of April 23, 2025: €86.05

    5 Including sponsor money commitment in IK (-€500m partly called as of 03.31.2025) & expected commitments in Monroe Capital (-$200m partly called as of 03.31.2025), IK Partners transaction deferred payment (-€131m), Monroe Capital 100% acquisition (including estimated earnout and puts on residual capital, i.e -$528M).

    6 €2.1bn of cash as of March 31, 2025, restated from sponsor money commitment in IK (-€500m partly called as of 03.31.2025) & expected commitments in Monroe Capital (-$200m partly called as of 03.31.2025), IK Partners transaction deferred payment (-€131m), Monroe Capital 100% acquisition (including estimated earnout and puts on residual capital, i.e -$528M).

    7 As of end of March 2025

    8 Based on USD/EUR exchange rate of 1.05

    9 Commitments not yet invested

    10 Fee Paying AuM

    11 IK Partners and Monroe Capital

    12 (Net cash generated from operating activities – lease payments + corporate tax)/adjusted operating profit.

    13 Total sales including wet-end activities, of which sale closing is expected in Q2 2025.

    14 Revenue in Q1 2024 excludes PPA restatement impact of $0.3m. Including this restatement, revenue is $20.4m in Q1 2024.

    15 Indian operations are deconsolidated and accounted for by the equity method due to the absence of audited figures. 3 months revenue from December 1, 2024 to February 28, 2025. These figures are compared with the same period last year and are estimated and non audited, accordingly, changes in percentages are rounded to the nearest whole figure.

    Agenda

    Thursday, May 15, 2025, at 3 PM CEST

    Annual General Meeting

    Wednesday, July 30, 2025

    H1 2025 results – Publication of NAV as of June 30, 2025, and condensed Half-Year consolidated financial statements (post-market release)

    Thursday, October 23, 2025

    Q3 2025 Trading update – Publication of NAV as of September 30, 2025 (post-market release)

    Friday, December 12, 2025

    2025 Investor Day.

    About Wendel

    Wendel is one of Europe’s leading listed investment firms. Regarding its principal investment strategy, the Group invests in companies which are leaders in their field, such as ACAMS, Bureau Veritas, Crisis Prevention Institute, Globeducate, IHS Towers, Scalian, Stahl and Tarkett. In 2023, Wendel initiated a strategic shift into third-party asset management of private assets, alongside its historical principal investment activities. In May 2024, Wendel completed the acquisition of a 51% stake in IK Partners, a major step in the deployment of its strategic expansion in third-party private asset management and also completed in March 2025 the acquisition of 72% of Monroe Capital. As of March 31, 2025, Wendel manages 34 billion euros on behalf of third-party investors, and c.6.3 billion euros invested in its principal investments activity.

    Wendel is listed on Eurolist by Euronext Paris.

    Standard & Poor’s ratings: Long-term: BBB, stable outlook – Short-term: A-2 

    Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of “Grand Mécène de la Culture” in 2012.

    For more information: wendelgroup.com

    Follow us on LinkedIn @Wendel 

    Attachment

    The MIL Network –

  • MIL-OSI: BNP PARIBAS GROUP : RELEASE OF THE 1ST AMENDMENT TO THE ENGLISH VERSION OF THE UNIVERSAL REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT 2024

    Source: GlobeNewswire (MIL-OSI)

    RELEASE OF THE 1stAMENDMENT TO THE ENGLISH VERSION OF THE UNIVERSAL REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT 2024

    PRESS RELEASE

    Paris, 24 April 2025

    BNP Paribas announces the publication of the 1st amendment to the English version of the Universal registration document and Annual financial report 2024.

    This amendment was filed with the Autorité des Marchés Financiers (AMF) on 24 April 2025 and is listed under n° D.25-0122-A01.

    The document is available on BNP Paribas website at the following address https://invest.bnpparibas/en/search/reports/documents/financial-reports and on the AMF website.

    Attachment

    The MIL Network –

  • MIL-OSI: Ageas successfully places EUR 500 million Tier 2 Notes

    Source: GlobeNewswire (MIL-OSI)

    Ageas successfully places EUR 500 million Tier 2 Notes

    Today ageas SA/NV successfully placed debt securities in the form of EUR 500 million Subordinated Fixed to Floating Rate Notes (the “Notes”) maturing in May 2056 and with a first call date in November 2035. The issuance generated substantial interest and was more than 3 times oversubscribed (orderbook in excess of EUR 1.6 billion).

    The Notes will be issued in denominations of EUR 100,000 at a re-offer price of 99.89 with a fixed coupon rate of 4.625% payable annually until the first reset date (2 May 2036). As of the first reset date, the coupon becomes payable quarterly at a 3-month Euribor floating rate over the initial credit spread (215bp) and a 100 basis points step-up.

    The Notes will qualify as Tier 2 capital for both the Group and Ageas SA/NV under the Solvency II prudential regime in the EU and are rated A- by Fitch. Ageas expects Standard and Poor’s will assign an A- rating. Application has been made for the Notes to be listed on the official list and admitted to trading on the Luxembourg Stock Exchange’s Euro MTF market. The Notes are expected to be settled on 2 May 2025.

    The net proceeds of the Notes are expected to be used for the financing of the acquisition of esure as well as for general corporate purposes and to optimise the capital structure of the Group.

    Ageas is a listed international insurance Group with a heritage spanning of 200 years. It offers Retail and Business customers Life and Non-Life insurance products designed to suit their specific needs, today and tomorrow, and is also engaged in reinsurance activities. As one of Europe’s larger insurance companies, Ageas concentrates its activities in Europe and Asia, which together make up the major part of the global insurance market. It operates successful insurance businesses in Belgium, the UK, Portugal, Türkiye, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines through a combination of wholly owned subsidiaries and long-term partnerships with strong financial institutions and key distributors. Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of about 50,000 people and reported annual inflows of EUR 18.5 billion in 2024.

    Disclaimer

    THIS COMMUNICATION IS NOT INTENDED FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION IS PROHIBITED UNDER APPLICABLE LAW.

    The issue, exercise or sale of securities in the offering mentioned in this press release are subject to specific legal or regulatory restrictions in certain jurisdictions. The information contained herein shall not constitute or form part of an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein, in any jurisdiction in which such offer, solicitation or sale would be unlawful. ageas SA/NV assumes no responsibility in the event there is a violation by any person of such restrictions.

    This press release does not constitute an offer to sell, or a solicitation of offers to purchase or subscribe for, securities in the United States or any other jurisdiction. The securities referred to herein have not been, and will not be, registered under the Securities Act of 1933, as amended, and may not be offered, exercised or sold in the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. There is no intention to register any portion of the offering in the United States or to conduct a public offering of securities in the United States.

    This communication may only be communicated, or caused to be communicated, to persons in the United Kingdom in circumstances where the provisions of Section 21 of the Financial Services and Markets Act 2000, as amended (the “Financial Services and Markets Act”) do not apply to ageas SA/NV and is directed solely at persons in the United Kingdom who (i) have professional experience in matters relating to investments, such persons falling within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) are persons falling within Article 49(2)(a) to (d) of the Order or other persons to whom it may lawfully be communicated (all such persons together being referred to as “relevant persons”). This communication is directed only to relevant persons and must not be acted on or relied on by persons who are not relevant persons.

    The securities referred to herein are not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any retail investor in the European Economic Area. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU, as amended (“MiFID II”) or (ii) a customer within the meaning of Directive (EU) 2016/97, as amended (the “Insurance Distribution Directive”), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II.

    The securities referred to herein are not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any retail investor in the United Kingdom. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (“EUWA”) or (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act and any rules or regulations made under the Financial Services and Markets Act to implement the Insurance Distribution Directive, where that customer would not qualify as a professional client as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA.

    The securities referred to herein are also not intended to be offered, sold or otherwise made available, and will not be offered, sold or otherwise made available, in Belgium to “consumers” (consumenten/consommateurs) within the meaning of the Belgian Code of Economic Law (Wetboek van economisch recht/Code de droit économique), as amended.

    The securities referred to herein may be held only by, and transferred only to, eligible investors referred to in Article 4 of the Belgian Royal Decree of 26 May 1994, holding their securities in an exempt securities account that has been opened with a financial institution that is a direct or indirect participant in the securities settlement system operated by the National Bank of Belgium or any successor thereto.

    This press release is not a prospectus nor an advertisement for the purpose of Regulation (EU) 2017/1129.

    Attachment

    The MIL Network –

  • MIL-OSI: Sword Group: Q1 2025 Sword achieves its Double-Digit Growth Target despite the current Geopolitical Context: +11.8% (i)

    Source: GlobeNewswire (MIL-OSI)

    KEY FIGURES
    Consolidated revenue for the 1st quarter of 2025 is €85.5m, an increase of +11.8% on a like-for-like basis compared with the first quarter of 2024.
    Profitability (EBITDA margin) is 12.0%, or €10.3m.

    Q1 2025 ACCOUNTS

    Q1 | non audited figures

    €m 2025 2024 Organic Growth (i)
    Revenue 85.5 75.8 +11.8%
    EBITDA 10.3 9.1 –
    EBITDA Margin 12.0% 12.0% –

    (i) on a like-for-like basis

    ANALYSIS
    Revenue shows double-digit growth, in line with budget forecasts.
    Profitability remains stable, as expected, while a number of ambitious projects are currently under review. Such projects could enable us to outperform over the next few years.
    The backlog remains solid and continues to support our expectations.
    Our external growth strategy is continuing, with a focus on micro-acquisitions that will strengthen our expertise, particularly in Artificial Intelligence and Cybersecurity.
    In this regard, Sword finalised the acquisition of iDelta on 7 April, and several other targets are currently being evaluated.

    OUTLOOK
    The Group confirms its 2028 Business Plan.

    Dividend
    €2.0 gross per shre
    Ex-date: April 30, 2025
    Record Date: May 2, 2025
    Payment: May 5, 2025
    Pending approval at the Annual General Meeting on April 28.

    Agenda
    28/04/25: 2024 Annual Shareholders Meeting
    24/07/25: Publication of Q2 2025 Revenue

    Sword Group
    Sword has 3,500+ IT/Digital specialists active in 50+ countries to accompany you in the growth of your organisation in the digital age.
    As a leader in technological and digital transformation, Sword has a solid reputation in complex IT & business project management.
    Sword optimises your processes and enhances your data.

    Attachment

    The MIL Network –

  • MIL-OSI: Northeast Bank Announces Dates for Fiscal 2025 Third Quarter Earnings Results and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    PORTLAND, Maine, April 24, 2025 (GLOBE NEWSWIRE) — Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based bank, announced today it will release its fiscal 2025 third quarter earnings results on Tuesday, April 29, 2025. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Wednesday, April 30, 2025. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, Richard Cohen, Chief Financial Officer, and Pat Dignan, Chief Operating Officer.

    To access the conference call by phone, please go to this link (Phone Registration), and you will be provided with dial in details. The call will be available via a live webcast, which can be viewed by accessing the Bank’s website at www.northeastbank.com and clicking on the Investor Relations section. To listen to the webcast, attendees are encouraged to visit the website at least 15 minutes prior to the start of the call to register, download and install any necessary audio software. Please note there is a slide presentation that will accompany the webcast. For those who cannot listen to the live broadcast, a replay will be available online for one year at www.northeastbank.com.

    About Northeast Bank

    Northeast Bank (NASDAQ: NBN) is a bank headquartered in Portland, Maine. We offer personal and business banking services to the Maine market via seven branches. Our National Lending Division purchases and originates commercial loans on a nationwide basis. ableBanking, a division of Northeast Bank, offers online savings products to consumers nationwide. Information regarding Northeast Bank can be found at www.northeastbank.com.

    NBN-F

    For More Information:
    Richard Cohen, Chief Financial Officer
    Northeast Bank
    27 Pearl Street, Portland, ME 04101
    207.786.3245 ext. 3249
    www.northeastbank.com

    The MIL Network –

  • MIL-OSI: XRP News: XenDex Presale Gains Momentum Ahead Of Coinbase’s XRP Futures Launch

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, April 24, 2025 (GLOBE NEWSWIRE) — XenDex is at the center of XRP news today as the first all-in-one decentralized exchange (DEX) built on the XRP Ledger. As excitement brews across the crypto market surrounding XRP’s renewed relevance, XenDex’s $XDX presale is gaining explosive momentum, drawing thousands of XRP holders and DeFi enthusiasts into what’s shaping up to be one of the most anticipated presales of the year. This opportunity presents itself when the XRP ecosystem is buzzing with the news of Coinbase’s XRP Futures launch.

    With features like non-custodial lending and borrowing, AI-powered copy trading, staking, and cross-chain interoperability, XenDex is delivering the full-scale DeFi experience that Ripple’s ecosystem has lacked for over a decade.

    Participate in XDX Presale Now

    The Xendex token Presale Is currently Live, And It’s Moving Fast.

    The $XDX token presale is now officially live at: https://xendex.net/presale

    The entry terms are simple and the timing is everything:

    • Exchange Rate: 1 XRP = 10 XDX
    • Minimum Buy: 150 XRP = 1,500 XDX
    • Soft Cap: 30,000 XRP

    Early participants are locking in tokens before supply tightens and pricing adjusts. As the community rapidly expands, so does the scarcity and with that, the potential upside.

    Why XRP Holders Are Rushing Into XenDex:

    The XRP community has long waited for a platform that truly unlocks decentralized finance on XRPL. XenDex delivers, with real functionality, not just promises.

    • Real-time AI copy trading from top-performing traders
    • Borrowing & lending with no middlemen
    • Staking & liquidity farming for passive rewards
    • Clean UI built for fast onboarding from users
    • Community governance through $XDX voting rights

    Buy XDX Now at It’s Lowest Price

    With Coinbase’s XRP Futures announcement stirring the market, XRP holders are now rallying behind the most advanced DeFi solution in the ecosystem, and it’s called XenDex.

    XenDex’s official Telegram group is surging while it’s Twitter engagement is climbing, and thousands are already on board, but there’s still time to join.

    The presale is live and the platform’s community is growing rapidly. An opportunity buy into a highly promising Ripple project is now.

    Website: https://xendex.net
    Buy $XDX: https://xendex.net/presale/
    Telegram: https://t.me/XenDexCommunity
    Twitter: https://x.com/XenDex_XRP
    Docs: https://xdxdoc.gitbook.io

    Contact:
    Frank Richards
    Frank@xendex.net

    Disclaimer: This is a paid post provided by XenDex. 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/81172a2a-d3e3-48e1-b09b-f56247570fc7

    The MIL Network –

  • MIL-OSI: CalAmp Delivers Strong Financial Performance in 2024

    Source: GlobeNewswire (MIL-OSI)

    CARLSBAD, Calif., April 24, 2025 (GLOBE NEWSWIRE) — CalAmp, a leading telematics company providing products and solutions that help organizations worldwide monitor, track, and protect vital assets, today announced strong results for calendar year 2024. The results underscore a transformative year marked by financial strength, strategic leadership hires, product innovation, and global expansion.

    “We are proud of the strides we made in 2024—financially, operationally, and strategically,” said Chris Adams, President and CEO of CalAmp. “Our refreshed leadership team is taking a customer first approach, with a focus on delivering innovative solutions and world-class customer service.”

    CalAmp delivered robust business results in 2024, including the following milestones:

    • Surpassed a total of 2.7 million subscribers across its business units
    • Generated revenue of $197 million and EBITDA of $12.7 million
    • Delivered strong positive free cash flow with >100% EBITDA conversion
    • Ended the year with a solid cash position of $72 million and positive net cash on the balance sheet following the elimination of $230 million of debt

    CalAmp’s technology solutions processed and analyzed over one trillion data points (3.5 billion a day) during 2024, reinforcing the company’s position as a powerhouse in connected intelligence. The flagship Here Comes the Bus® app served over 1.7 million parents, strengthening CalAmp’s leadership in student safety and family engagement.

    To further accelerate its rapidly growing Connected Car Solutions business unit, CalAmp expanded its global footprint with the opening of a new LoJack® France office, building on the trusted LoJack brand to better serve European markets.

    To enhance its market leadership and drive further growth, CalAmp strategically organized its operations into four core business units: Edge Devices, Telematics Solutions, Connected Car Solutions, and Student Safety. The company hired and promoted accomplished leaders to bolster each of these divisions:

    • Tom Ayers, a former VP at onsemi and Sony Electronics, hired to lead Edge Devices;
    • Paul Washicko, previously General Manager of SaaS at CalAmp, returned to lead Telematics Solutions;
    • Maurizio Iperti promoted to President of Connected Car Solutions, overseeing all regions, including Europe, the United Kingdom, and Mexico;
    • Thomas Polan, a co-founder of the Synovia K-12 solution acquired by CalAmp in 2019, rejoined as Deputy GM of Student Safety.

    These key management appointments align with CalAmp’s commitment to operational excellence and market expansion, reinforcing its ability to scale in key growth sectors.

    As CalAmp enters 2025, the company is well-positioned to build on its momentum, drive innovation, and deepen its partnerships across mobility, safety, and asset intelligence.

    About CalAmp

    CalAmp provides flexible solutions to help organizations worldwide monitor, track, and protect their vital assets. Our unique device-enabled software and cloud platform enables commercial and government organizations worldwide to improve efficiency, safety, visibility, and compliance while accommodating the unique ways they do business. With over 10 million active edge devices and 220+ approved or pending patents, CalAmp is the telematics leader organizations turn to for innovation and dependability. For more information, visit calamp.com, or LinkedIn, Twitter, YouTube or CalAmp Blog.

    CalAmp, LoJack, TRACKER, Here Comes The Bus, Bus Guardian, CalAmp Vision, CrashBoxx and associated logos are among the trademarks of CalAmp and/or its affiliates in the United States, certain other countries and/or the EU. Spireon acquired the LoJack® U.S. Stolen Vehicle Recovery (SVR) business from CalAmp and holds an exclusive license to the LoJack mark in the United States and Canada. Any other trademarks or trade names mentioned are the property of their respective owners.

    The MIL Network –

  • MIL-OSI: LECTRA: Q1 2025: Business slowdown due to unprecedented environment

    Source: GlobeNewswire (MIL-OSI)

    Q1 2025: Business slowdown due to unprecedented environment

    • Revenues: 134.4 million euros (+4%)*
    • EBITDA before non-recurring items: 21.1 million euros (stable)*
    • Net income: 5.8 million euros (-13%)*
    • Update of 2025 annual forecast premature

     *At actual exchange rates 

      January 1 – March 31
       2025 2024   Changes 2025/2024  
    (in millions of euros)        Actual
    exchange rates    		 Like-for-like(1)  
    Revenues  134.4 129.6   +4% +1%  
    ARR (2)  90.3     +2% +3%  
    EBITDA before non-recurring items  21.1 21.1   +0% -6%  
    EBITDA margin before non-recurring items  15.7% 16.3%   -0,6 point -0,9 point  
    Net income  5.8 6.7   -13% –  
    Shareholders’ Equity  368.8 341.6   – –  
    Net cash (+) / Net financial debt (-)  -4.6 -18.8   – –  

    (1) On a constant currency basis and for a comparable scope of consolidation
    (2) At December 31, 2024 and March 31, 2025

    Paris, April 24, 2025. Today, Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the unaudited consolidated financial statements for the first quarter of 2025.

    MACROECONOMIC AND GEOPOLITICAL SITUATION: AN UNPRECEDENTED SHOCK

    Since early March, the global economic situation has deteriorated. The unexpectedly sweeping new tariffs announced on April 2 have caused considerable volatility in global financial markets and led to significant declines in market valuations and indices across all countries. They have also had major negative impacts on businesses worldwide, creating uncertainty and restraining their near-term growth prospects. 

    Limited direct impact

    As of today, software and services are not subject to customs duties. Half of the equipment sales in the United States come from local production. On the other hand, a small portion of this production is sold in China. Therefore, only 10% of the revenue is affected by the announced customs duties.

    The Group has reflected the increased customs duties in its selling prices.

    Robust competitive position 

    The distortion of competition regarding equipment is virtually nil in the near term, as manufacturing by competitors in the United States is extremely limited. Were the situation to continue over the long term, it would be expected to work in Lectra’s favor, as competitors manufacture for the most part in Asia and in Europe. The Group is also the only one to have three production sites, in France, China and the United Sates.

    A sense of apprehension that reinforces customers’ wait-and-see attitude 

    Customers and contract manufacturers must now adjust to this new economic landscape — in terms of pricing policy, production, investment, or future strategy. 

    The long-term effects of these new tariffs, if confirmed, could have repercussions on inflation, growth, and supply chains.

    Should the situation deteriorate, a global economic slowdown could be observed, with higher prices for consumers and lower profits for companies, leading to financing difficulties and reduced investment.

    SUMMARY FOR Q1 2025

    To facilitate the analysis of the Group’s results, the accounts are compared to those published for 2024 (at actual exchange rates) and, for the 2025 vs 2024 comparisons, to the aux 2024 pro-forma accounts (presented on a like-for-like basis), including Launchmetrics from January 1.

    Given the importance of SaaS activity for Lectra, the Group has decided to publish a new indicator, ARR (Annual Recurring Revenue), which is commonly used in the SaaS industry.

    ARR at March 31, 2025, came to 90.3 million euros, up 3% higher than at the end of 2024 at comparable exchange rates. 

    Q1 2025 revenues (134.5 million euros) were up 4% at actual exchange rates and up 1% on a like-for-like basis, reflecting the slowdown observed early in March.

    EBITDA before non-recurring items totaled 21.1 million euros, holding stable at actual exchange rates and down 6% on a like-for-like basis. The EBITDA margin before non-recurring items was 15.7%.

    After accounting for an amortization charge of intangible assets amounting to 5.9 million euros, the income from operation before non-recurring items decreased by 12% on a comparable basis, to 10.3 million euros.

    Net income amounted to 5.8 million euros, down 13% at actual exchange rates. 

    High free cash flow before non-recurring items

    Free cash flow before non-recurring items remained high at 17.7 million euros in Q1 2025, after the record level of 22.0 million euros posted in Q1 2024.

    A particularly robust sheet

    At March 31, 2025, the Group had a particularly robust balance sheet with a consolidated shareholders’ equity of 368.8 million euros and a net financial debt of 4.6 million euros. The Group has thus continued to reduce its debt at a sustained pace, 14 months after financing the acquisition of a majority stake in Launchmetrics.

    OUTLOOK 

    In the management discussion and analysis of the consolidated financial statements for the fourth quarter and full year 2024, published on February 12, 2025, Lectra reiterated its long-term vision, together with the objectives of its strategic roadmap for 2023-2025.  

    The Group noted that in a challenging environment, having proven its resilience and the quality of its fundamentals, Lectra had approached the year 2025 with confidence, pursuing its strategy by meeting customers’ needs as closely as possible through the quality of its offer for Industry 4.0 and by developing its SaaS activity. 

    In light of the unprecedented circumstances stemming from economic and policy announcements, leading to a stronger-than-anticipated wait-and-see attitude among its customers, it is premature to provide updated annual forecasts at this time.  

    The 2024 Financial Report, as well as the Management Discussion and analysis of financial conditions and results of operations and the financial statements for Q1 2025 are available on lectra.com. The Shareholders’ General and Special Meetings will be held on April 25, 2025, in the Company’s offices. Q2 and H1 2025 earnings will be published on July 24, 2025, after the close of the Paris Stock Exchange.

    About Lectra

    At the forefront of innovation since its founding in 1973, Lectra provides industrial intelligence technology solutions—combining software in SaaS mode, cutting equipment, data, and associated services—to players in the fashion, automotive and furniture industries. With boldness and passion, Lectra accelerates the transformation and success of its customers in a world in perpetual motion thanks to the key technologies of Industry 4.0: AI, big data, cloud and the internet of things. 

    The Group is present in more than one hundred countries. It operates three production sites for its cutting equipment, located in France, China and the United States. Lectra’s 3,000 employees are driven by three core values: being open-minded thinkers, trusted partners and passionate innovators. They all share the same concern for social responsibility, which is one of the pillars of Lectra’s strategy to ensure its sustainable growth and that of its customers.

    Lectra reported revenues of €527 million in 2024, including €77 million coming from its SaaS offerings. The company is listed on Euronext, and is included in the CAC All Shares, CAC Technology, EN Tech Leaders and ENT PEA-PME 150 indices.

    For more information, visit ww.lectra.com. 

    Lectra – World Headquarters: 16–18, rue Chalgrin • 75016 Paris • France 

    Tel. +33 (0)1 53 64 42 00 – www.lectra.com 

    A French Société Anonyme with capital of €37,966,274 • RCS Paris B 300 702 305 

    Attachment

    The MIL Network –

  • MIL-OSI: Lingokids Sparks Conversation Around Screen Time Parent Guilt Experienced by More Than 74% of U.S. Parents

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, April 24, 2025 (GLOBE NEWSWIRE) — According to a new survey conducted by Lingokids, the #1 interactive app for kids aged 2-8, more than 74% of American parents, including 75% of Millennial parents, admit to feeling guilty about their child’s screen time use regardless of the need for it and its potential benefits. Despite this struggle with feelings of guilt, less than 10% of American parents frequently engage in discussions about screen time with other parents or caregivers as they feel judged by others.

    Inspired by this data, Lingokids is inviting parents to open a conversation around screen time parent guilt and putting the screen time debate on trial. New Yorkers this week may have noticed thought-provoking out-of-home content prompting parents to vote “guilty or not-guilty” about their feelings when it comes to screen time use for their kids. The verdict will be revealed in a multi-channel campaign culminating with the release of a brand film debuting on May 6.

    “The data highlights the reality parents today are experiencing, with a tension between feeling guilty and judged for allowing screen time while seeing a need for it and the potential benefits,” said Lingokids CMO Mikael Journo. “It’s clear there’s a gap in communication among parents about this topic and a need for more open conversations about healthy management of screen time for children. At Lingokids, we are working to start a transparent conversation on this topic and help this generation navigate the complexities of digital-age parenting.”

    Challenges of Parenting in a Digital World

    Approximately 87% of American parents permit their children to use screens, with 41% of parents allowing up to two hours a day. This reality is compounded by the 54% of American parents who struggle with balancing work and family responsibilities, indicating that external pressures may influence screen time decisions. In addition:

    • Nearly half of parents (46%) feel pressured to constantly entertain their child
    • Admittedly, the pressure mostly comes from themselves (76%), followed by their children (42%), and society (31%)

    Screen Time, Guilt + Judgment

    These modern-day parenting challenges and misalignment with screen time guidelines often result in significant feelings of inadequacy. This sentiment is further amplified by societal judgment, with 77% of American parents feeling judged by others at least some of the time for allowing their children to use screens. In fact, nearly 30% of parents admitted to lying to other parents and caregivers about their child’s screen time use due to fear of judgment.

    The findings also show that 27% of American parents consider themselves mindful about their own screen usage, thereby setting a healthy example for their children. Those who view themselves as positive role models in digital habits report significantly lower levels of guilt, indicating that self-awareness and intentional modeling can alleviate some of the psychological burdens associated with screen time.

    Interestingly, American parents who are largely free from guilt regarding their child’s screen time use are more focused on the quality of the content their child views or engages with rather than the amount of time they spend using screens, pointing to a shift towards content-driven usage. Those grappling with high levels of guilt, however, remain concerned about the duration of screen exposure.

    “This dichotomy suggests that not all screen time is equal,” said Lingokids Education Advisory Board Chair Suzanne Barchers, EdD​. “It is important for parents to discern the most beneficial content for their child’s development. This understanding can lead to increased confidence when making screen time decisions and significantly alleviate parental guilt.”

    Screen Time + Parental Mental Health

    This guilt and judgment surrounding their child’s screen time can profoundly affect the mental health of American parents. In fact, one in four American parents report that judgment related to their child’s screen usage has a detrimental impact on their mental well-being. Furthermore, one in five American parents believe that feelings of guilt associated with their child’s digital engagement also negatively impacts their mental health. These statistics align with the concerns that led to the U.S. Surgeon General Dr. Vivek Murthy’s advisory on the mental health and well-being of parents and caregivers and underline the critical need for enhanced support and understanding regarding management of screen time for children.

    To cast a vote around screen time parent guilt visit www.screentimeguilt.com.

    Methodology

    Lingokids conducted paid surveys in February and March 2025 utilizing Pollfish, a leading survey platform, to collect insights from 1,000 parents of children aged 2-8 in the United States.

    About Lingokids

    Lingokids is an EdTech and media company behind the #1 interactive app for kids aged 2-8.

    With more than 165M downloads around the world, the Lingokids app is packed with thousands of shows, songs and interactive games kids love—all fun, safe and educational.

    Its unique Playlearning™ methodology puts kids at the center of the Lingokids universe. As they explore, they’ll pick up academic knowledge and modern life skills in a safe, age-appropriate, ad-free environment designed for independent exploration. For more information, please visit www.lingokids.com

    The MIL Network –