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Category: GlobeNewswire

  • MIL-OSI: MEXC Strengthens Reserve Backing with $390M Asset Increase

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, April 23, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, has significantly bolstered its reserve holdings, reporting an increase of approximately $389 million in total asset value over the past two months (as of April 21, 2025). The latest audit of MEXC’s Proof of Reserves confirms that all major cryptocurrencies are backed by reserves exceeding 100%, underscoring the exchange’s strong liquidity position and commitment to financial transparency.

    Reserve Ratio Update Reflects Strong Growth

    As of April 2025, MEXC’s reserve ratios continue to demonstrate solid coverage across all major cryptocurrencies:

    The updated reserve ratios highlight consistent over-collateralization, reinforcing user confidence in the platform’s ability to meet withdrawal demands at any time.

    Substantial Asset Growth Over Two Months

    A comparison between February and April 2025 reveals a notable surge in MEXC’s asset holdings, with total on-chain reserves increasing by approximately $389.1 million:

    The sharp rise signals robust capital inflows during this two-month period.

    Strong Capital Inflow Signals Growing Market Confidence

    The substantial increase in our reserves over the past two months reflects growing confidence in MEXC’s platform during recent market conditions,” said Tracy Jin, COO of MEXC. “With nearly $390 million in added value to our reserves, we’re not just maintaining our commitment to user security—we’re strengthening it.

    The latest data shows notable growth in Bitcoin and Ethereum holdings, with reserves increasing by 1,649.72 BTC and 21,264.46 ETH, respectively. At current market prices, these additions represent over $179 million in combined value, underscoring rising user activity and capital inflow.

    Commitment to Transparency and Security

    MEXC continues to conduct bi-monthly Proof of Reserve audits as part of its broader commitment to transparency and user trust. These regular reports allow users to independently verify that their assets are fully backed on-chain, with the latest audit confirming near-zero discrepancies between public blockchain data and platform records.

    Transparency isn’t just a policy at MEXC—it’s a fundamental principle guiding our operations,” added Tracy Jin. “By publishing these comprehensive reserve reports every two months, we ensure our users have full visibility into the security of their assets.

    Multi-layered Security Framework

    MEXC safeguards user assets through a comprehensive security architecture that includes:

    1. 100%+ Reserve Backing: All user assets are fully backed with reserves exceeding total deposits
    2. Insurance Fund: Provides protection against extreme market volatility
    3. Regular Audits: Bi-monthly verification ensures continued compliance and transparency
    4. Cold Wallet Storage: The majority of user funds are held in offline, secure cold wallets to prevent unauthorized access

    The Go-To Platform for Seamless Crypto Trading

    In addition to implementing robust safety measures to ensure a secure trading environment, the platform offers a variety of features and services designed to enhance the user experience. These features help traders minimize costs and maximize returns. MEXC is committed to empowering traders by enabling investments across the widest range of assets, ensuring safe and seamless transactions regardless of market conditions.

    • M – Most Trending Tokens: MEXC is known for its rapid token listings and diverse selection of popular tokens, helping users capitalize on emerging opportunities. To date, over 3,000 tokens have been listed on the platform.
    • E – Everyday Airdrops: MEXC makes it easy for users to engage in daily airdrop events and receive substantial rewards without complex procedures. In 2024, the platform completed 2,293 airdrop events, distributing over $136 million in rewards.
    • X – Xtremely Low Fees: MEXC offers highly competitive trading fees, helping users reduce costs and maximize their growth potential.
    • C – Comprehensive Liquidity: Backed by strong liquidity and market depth, MEXC ensures the efficient and seamless execution of every transaction, minimizing slippage even during volatile conditions.

    These features have helped MEXC attract over 36 million users, establishing it as the platform of choice for an increasing number of traders around the world.

    About MEXC

    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

    Risk Disclaimer:
    The information provided in this article about cryptocurrencies does not represent MEXC’s official stance or investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully evaluate market fluctuations, project fundamentals, and potential financial risks before making any trading decisions.

    Source

    Contact:
    MEXC PR Manager
    Lucia Hu: lucia.hu@mexc.com

    Disclaimer: This press release is provided by the MEXC. 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.

    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.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e343cb19-8b52-40dc-93ab-776af685a056

    https://www.globenewswire.com/NewsRoom/AttachmentNg/ff1af87e-d789-4c89-8c2c-883b5a180aef

    https://www.globenewswire.com/NewsRoom/AttachmentNg/41b23578-4744-452c-aaf1-845c4483be4a

    The MIL Network –

  • MIL-OSI: Investeringsforeningen SparDanmark Invest suspenderer midlertidig handel med alle afdelinger

    Source: GlobeNewswire (MIL-OSI)

    Nykredit Portefølje Administration A/S har anmodet Nasdaq Copenhagen om suspension af alle afdelinger, som administreres af Nykredit Portefølje Administration A/S. Det skyldes, at det grundet tekniske udfordringer ikke er muligt at stille korrekt NAV.

    Suspensionen vil blive ophævet, når det igen er muligt at stille korrekte priser.

    Følgende afdelinger er omfattet af suspensionen:

    ISIN Fund Name Order Book Code
    DK0061530896 Konservativ SDIKON
    DK0061530979 Balance SDIBAL
    DK0061531001 Offensiv SDIOFF
    DK0061531191 Vækst SDIVKS

    Eventuelle spørgsmål vedrørende denne meddelelse kan rettes til Portfolio Management, npa.pm@nykredit.dk eller Christian Rye Holm, CRH@nykredit.dk.

    Med venlig hilsen
    Nykredit Portefølje Administration A/S

    The MIL Network –

  • MIL-OSI: First Quarter Report 2025

    Source: GlobeNewswire (MIL-OSI)

    SERSTECH GROUP, 1 JANUARY – 31 MARCH

    • Net sales amounted to KSEK 19 892 (14 174), an increase of 40%.
    • EBITDA amounted to KSEK 669 (1 368), corresponding to an EBITDA margin of 3%.
    • EBIT amounted to KSEK -1 339 (-522), corresponding to an EBIT margin of -7%.
    • Cash flow from operating activities amounted to KSEK -3 140 (1 627).
    • Earnings per share amounted to SEK -0.01 (-0.00).
    • Earnings per average number of shares amounted to SEK -0.01 (-0.00)

    Message from the CEO

    Sales in the first quarter were in line with expectations, amounting to approximately 20 MSEK, resulting in an EBITDA of 0.7 MSEK. During the quarter, we received two orders from our partner Kaiser in Singapore, totaling approximately 4 MSEK in consumables. The end customer has purchased instruments through four separate orders. The continued orders of consumables indicate that the instruments are in frequent use. The customer operates within law enforcement, and the SERS consumables are used to identify narcotics in very low concentrations and mixtures that are typically difficult or impossible to detect with handheld Raman devices that lack the patented SERS capability. 

    During the quarter, we launched three new accessories that address challenges previously unsolvable with handheld Raman technology. These new accessories were demonstrated for partners and customers, and the feedback has been very positive. Combined with SERS and the Serstech Arx mkII, these additions enable the identification of narcotics and other hazardous substances down to 30 micrograms, as well as liquid traces as small as a few microliters. No other handheld Raman-based systems currently on the market offer this capability, which we refer to as trace identification. Competing technologies are limited to either trace detection (i.e., detecting the presence of a threat without identifying it – similar to what a dog can do) or bulk identification (i.e., identifying larger volumes of a chemical). Serstech now provides a complete solution encompassing bulk identification, trace sampling and collection, and trace identification. With our software and integration capabilities, we offer the most comprehensive solution on the market for identifying narcotics, hazardous substances, and chemical warfare agents.

    In March, we began the liquidation of our Romanian subsidiary, Serstech Development SRL, and we expect the process to be completed by the end of the second quarter. As of the end of March, we had nine software developers working at the Romanian office. Following the pandemic, staff costs in Romania have increased significantly. By relocating these positions to our Lund office, we can reduce costs while also improving output. Most replacements have already been recruited, and we expect the team to be fully staffed before the end of summer.

    We are observing promising trends in the market that are likely to positively impact our sales in the coming years. The threat of tariffs is making U.S.-based product pricing increasingly unpredictable. As a result, some customers are seeking non-U.S. suppliers – of which there are very few in our industry. All our major competitors are based in the U.S., while Serstech remains the only EU-based manufacturer of handheld Raman solutions. This trend is most prominent in Europe but is also emerging in other regions.

    However, the threat of U.S. tariffs could negatively affect our U.S. sales in 2025, and we are closely monitoring the situation. While it is too early to draw definitive conclusions, a potential worst-case scenario is that our products could become too expensive for the U.S. market. We are currently evaluating and preparing potential solutions, such as establishing local production in the U.S. and/or building inventory in the U.S. before any higher tariffs are implemented.

    The year has started positively, with a strengthened product portfolio, high demand, and the possibility of a trade conflict that could ultimately benefit Serstech in the medium to long term. As always, we should expect quarterly variations due to the nature of the industry, and given the current geopolitical volatility, these fluctuations may be more pronounced than usual. Nonetheless, we remain confident in our long-term growth and profitability. The investments we are making this year in sales, product development, and production will significantly contribute to our results for many years to come.

    Stefan Sandor, CEO
    April 2025

    For further information, please contact:
    Stefan Sandor,
    CEO, Serstech AB Phone: +46 739 606 067
    Email: ss@serstech.com

    or

    Thomas Pileby,
    Chairman of the Board, Serstech AB Phone: +46 702 072 643
    Email: tp@serstech.com
    or visit: www.serstech.com

    This is information that Serstech AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 11:30 CET on April 23, 2025.

    Certified advisor to Serstech is Svensk Kapitalmarknadsgranskning AB (SKMG).

    About Serstech
    Serstech delivers solutions for chemical identification and has customers around the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and first responders. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. Serstech’s head office is in Sweden and all production is done in Sweden.
    Serstech is traded at Nasdaq First North Growth Market and more information about the company can be found at www.serstech.com

    Attachment

    The MIL Network –

  • MIL-OSI: Investeringsforeningen Nykredit Invest Balance suspender handel med alle afdelinger

    Source: GlobeNewswire (MIL-OSI)

    Nykredit Portefølje Administration A/S har anmodet Nasdaq Copenhagen om suspension af alle afdelinger, som administreres af Nykredit Portefølje Administration A/S. Det skyldes, at det grundet tekniske udfordringer ikke er muligt at stille korrekt NAV.

    Suspensionen vil blive ophævet, når det igen er muligt at stille korrekte priser.

    Følgende afdelinger er omfattet af suspensionen:

    ISIN Fund Name Order Book Code
    DK0061671013 Bæredygtig Defensiv KL NBIBDKL
    DK0061671286 Bæredygtig Moderat KL NBIBMKL
    DK0061671369 Bæredygtig Offensiv KL NBIBOKL
    DK0016188733 Defensiv KL NBIDEKL
    DK0016188816 Moderat KL NBIMOKL
    DK0060441749 Offensiv KL NBIOFKL

    Eventuelle spørgsmål vedrørende denne meddelelse kan rettes til npa.pm@nykredit.dk eller Head of Portfolio Management & Operations, Christian Rye Holm CRH@nykredit.dk

    Med venlig hilsen

    Nykredit Portefølje Administration A/S

    Tage Fabrin-Brasted

    The MIL Network –

  • MIL-OSI: Check Point Software Reports 2025 First Quarter Financial Results

    Source: GlobeNewswire (MIL-OSI)

    TEL AVIV, Israel, April 23, 2025 (GLOBE NEWSWIRE) — Check Point® Software Technologies Ltd. (NASDAQ: CHKP), today announced its financial results for the quarter ended March 31st, 2025.

    First Quarter 2025 Financial Highlights:

    • Cash Flow from Operations: $421 million, a 17 percent increase year over year
    • Calculated Billings* reached $553 million, a 7 percent increase year over year
    • Remaining Performance Obligation (RPO)**: $2.4 billion, an 11 percent increase year over year
    • Total Revenues: $638 million, a 7 percent increase year over year
    • Products & Licenses Revenues: $114 million, a 14 percent increase year over year
    • Security Subscriptions Revenues: $291 million, a 10 percent increase year over year
    • GAAP Operating Income: $196 million, representing 31 percent of total revenues
    • Non-GAAP Operating Income: $259 million, representing 41 percent of total revenues
    • GAAP EPS: $1.71, a 7 percent increase year over year
    • Non-GAAP EPS: $2.21, a 9 percent increase year over year

    “The first quarter results have provided a solid foundation to expand upon as we progress through the year.  Strong demand for our Quantum Force appliances, fueled by refresh cycles and new projects delivered double-digit year-over-year growth in products and licenses revenues,” stated CEO Nadav Zafrir. “The AI-driven Infinity Platform, featuring a Hybrid Mesh Architecture, continues to resonate with customers and delivered another quarter of impressive double-digit year-over-year growth.”

    For information regarding the non-GAAP financial measures discussed in this release, as well as a reconciliation of such non-GAAP financial measures to the most directly comparable GAAP financial measures, please see below “Use of Non-GAAP Financial Information” and “Reconciliation of GAAP to Non-GAAP Financial Information.”

    Conference Call & Video Cast Information
     Check Point will host a conference call with the investment community on April 23, 2025, at 8:30 AM ET/5:30 AM PT. To listen to the live videocast or replay, please visit the website www.checkpoint.com/ir.

    Second Quarter 2025 Investor Conference Participation Schedule

    • Barclays Americas Select Franchise Conference 2025
      May 6, 2025, London, UK – Fireside Chat & 1×1’s
    • J.P. Morgan 53rd Annual Technology, Media, and Telecom Conference
      May 13-15, 2025, Boston, MA – Fireside Chat & 1×1’s
    • Oppenheimer 26th Annual Israeli Conference
      May 18, 2025, Tel Aviv, Israel – Fireside Chat & 1×1’s
    • TD Cowen 53rd Annual TMT Conference
      May 28, 2025, NY, NY – Fireside Chat & 1×1’s
    • Jefferies Software Summit
      May 29, 2025, Newport Coast, CA – Fireside Chat &1×1’s
    • Stifel 2025 Cross Sector 1×1 Conference
      June 3, 2025, Boston, MA – 1×1’s
    • Baird 2025 Global Consumer, Technology & Services Conference
      June 4, 2025, SF, CA – 1×1’s
    • Bank of America Merrill Lynch 2025 Global Technology Conference
      June 5, 2025, SF, CA – Fireside Chat & 1×1’s
    • TD Cowen 2nd Annual Corporate Access Day
      June 17, 2025, Toronto, Canada – 1×1’s

    Members of Check Point’s management team are expected to present at these conferences and discuss the latest company strategies and initiatives. Check Point’s conference presentations are expected to be available via webcast on the company’s web site. To hear these presentations and access the most updated information please visit the company’s web site at www.checkpoint.com/ir. The schedule is subject to change.

    Follow Check Point via:
    Twitter: http://www.twitter.com/checkpointsw
    Facebook: https://www.facebook.com/checkpointsoftware
    Blog: http://blog.checkpoint.com
    YouTube: http://www.youtube.com/user/CPGlobal
    LinkedIn: https://www.linkedin.com/company/check-point-software-technologies

    About Check Point Software Technologies Ltd.
    Check Point Software Technologies Ltd. (http://www.checkpoint.com) is a leading AI-powered, cloud-delivered cyber security platform provider protecting over 100,000 organizations worldwide. Check Point leverages the power of AI everywhere to enhance cyber security efficiency and accuracy through its Infinity Platform, with industry-leading catch rates enabling proactive threat anticipation and smarter, faster response times. The comprehensive platform includes cloud-delivered technologies consisting of Check Point Harmony to secure the workspace, Check Point CloudGuard to secure the cloud, Check Point Quantum to secure the network, and Check Point Infinity Core Services for collaborative security operations and services.

    Legal Notice Regarding Forward-Looking Statements
    This press release contains forward-looking statements. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, expectations regarding our products and solutions, and our participation in investor conferences and other events during the second quarter of 2025. Our expectations and beliefs regarding these matters may not materialize, and actual results or events in the future are subject to risks and uncertainties that could cause actual results or events to differ materially from those projected. These risks include our ability to continue to develop platform capabilities and solutions; customer acceptance and purchase of our existing solutions and new solutions; the market for IT security continuing to develop; competition from other products and services; appointments and departures of our executive officers; and general market, political, economic, and business conditions, including acts of terrorism or war. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 17, 2025. The forward-looking statements in this press release are based on information available to Check Point as of the date hereof, and Check Point disclaims any obligation to update any forward-looking statements, except as required by law.

    Use of Non-GAAP Financial Information
     In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, Check Point uses non-GAAP measures of operating income, net income and earnings per diluted share, which are adjustments from results based on GAAP to exclude, as applicable, stock-based compensation expenses, amortization of intangible assets and acquisition related expenses and the related tax affects. Check Point’s management believes the non-GAAP financial information provided in this release is useful to investors’ understanding and assessment of Check Point’s ongoing core operations and prospects for the future. Historically, Check Point has also publicly presented these supplemental non-GAAP financial measures to assist the investment community to see the company “through the eyes of management,” and thereby enhance understanding of its operating performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the non-GAAP financial measures discussed in this press release to the most directly comparable GAAP financial measures is included with the financial statements contained in this press release. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and as such has determined that it is important to provide this information to investors.

    * Calculated Billings is a measure that we defined as total revenues recognized in accordance with GAAP plus the change in Total Deferred Revenues during the period.

    ** Remaining Performance Obligation (RPO) is a measure that represents the total value of non-cancellable contracted products and/or services that are yet to be recognized as Revenue as of March 31, 2025.

    CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    CONSOLIDATED STATEMENT OF INCOME
     
    (Unaudited, in millions, except per share amounts)
     
      Three Months Ended
      March 31,
      2025   2024
    Revenues:      
    Products and licenses $ 114.1   $ 100.3
    Security subscriptions   290.6     263.4
    Total revenues from products and security subscriptions   404.7     363.7
    Software updates, maintenance and services   233.1     235.1
    Total revenues   637.8     598.8
           
    Operating expenses:      
    Cost of products and licenses   23.0     19.9
    Cost of security subscriptions   21.4     16.5
    Total cost of products and security subscriptions   44.4     36.4
    Cost of Software updates and maintenance   32.1     28.7
    Amortization of technology   7.6     5.8
    Total cost of revenues   84.1     70.9
           
    Research and development   102.1     99.2
    Selling and marketing   225.4     206.2
    General and administrative   30.7     28.6
    Total operating expenses   442.3     404.9
           
    Operating income   195.5     193.9
    Financial income, net   27.3     22.6
    Income before taxes on income   222.8     216.5
    Taxes on income   31.9     32.6
    Net income $ 190.9   $ 183.9
    Basic earnings per share $ 1.77   $ 1.64
    Number of shares used in computing basic earnings per share   107.9     112.3
    Diluted earnings per share $ 1.71   $ 1.60
    Number of shares used in computing diluted earnings per share   111.4     115.2
    CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    SELECTED FINANCIAL METRICS
     
    (Unaudited, in millions, except per share amounts)
     
        Three Months Ended
        March 31,
        2025   2024
             
    Revenues   $ 637.8   $ 598.8
    Non-GAAP operating income     258.6     252.0
    Non-GAAP net income     246.2     234.5
    Non-GAAP diluted earnings per share   $ 2.21   $ 2.04
    Number of shares used in computing diluted Non-GAAP earnings per share     111.4     115.2
    CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION
     
    (Unaudited, in millions, except per share amounts)
     
        Three Months Ended
        March 31,
          2025       2024  
             
    GAAP operating income   $ 195.5     $ 193.9  
    Stock-based compensation (1)     41.2       41.6  
    Amortization of intangible assets and acquisition related expenses (2) (*)     21.9       16.5  
    Non-GAAP operating income   $ 258.6     $ 252.0  
             
    GAAP net income   $ 190.9     $ 183.9  
    Stock-based compensation (1)     41.2       41.6  
    Amortization of intangible assets and acquisition related expenses (2) (*)     21.9       16.5  
    Taxes on the above items (3)     (7.8 )     (7.5 )
    Non-GAAP net income   $ 246.2     $ 234.5  
             
    GAAP diluted earnings per share   $ 1.71     $ 1.60  
    Stock-based compensation (1)     0.37       0.36  
    Amortization of intangible assets and acquisition related expenses (2) (*)     0.2       0.15  
    Taxes on the above items (3)     (0.07 )     (0.07 )
    Non-GAAP diluted earnings per share   $ 2.21     $ 2.04  
             
    Number of shares used in computing diluted Non-GAAP earnings per share     111.4       115.2  
             
    (1) Stock-based compensation:        
    Cost of products and licenses   $ 0.1     $ 0.1  
    Cost of software updates and maintenance     2.1       2.2  
    Research and development     14.7       14.7  
    Selling and marketing     14.6       15.9  
    General and administrative     9.7       8.7  
          41.2       41.6  
             
    (2) Amortization of intangible assets and acquisition related expenses (*):        
    Amortization of technology-cost of revenues     7.6       5.8  
    Research and development     1.5       1.6  
    Selling and marketing     12.8       9.1  
          21.9       16.5  

    (3) Taxes on the above items

    		     (7.8 )     (7.5 )
    Total, net   $ 55.3     $ 50.6  
     

    (*) While amortization of acquired intangible assets is excluded from the measures, the revenue of the acquired companies is reflected in the measures and the acquired assets contribute to revenue generation.

    CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    CONDENSED CONSOLIDATED BALANCE SHEET DATA

    (In millions)

    ASSETS
     
          March 31,   December 31,
          2025
    (Unaudited)    		   2024
    (Audited)
    Current assets:          
    Cash and cash equivalents     $ 450.2   $ 506.2
    Marketable securities and short-term deposits       1,012.0     865.7
    Trade receivables, net       399.7     728.8
    Prepaid expenses and other current assets       94.5     92.7
    Total current assets       1,956.4     2,193.4
               
    Long-term assets:          
    Marketable securities       1,469.8     1,411.9
    Property and equipment, net       83.0     80.8
    Deferred tax asset, net       80.6     74.7
    Goodwill and other intangible assets, net       1,877.9     1,897.1
    Other assets       90.2     96.6
    Total long-term assets       3,601.5     3,561.1
               
    Total assets     $ 5,557.9   $ 5,754.5
    LIABILITIES AND SHAREHOLDERS’ EQUITY
     
    Current liabilities:          
    Deferred revenues     $ 1,389.8     $ 1,471.3  
    Trade payables and other accrued liabilities       394.8       472.9  
    Total current liabilities       1,784.6       1,944.2  
               
    Long-term liabilities:          
    Long-term deferred revenues       525.6       529.0  
    Income tax accrual       467.4       459.6  
    Other long-term liabilities       31.8       32.3  
    Total long-term liabilities       1,024.8       1,020.9  
               
    Total liabilities       2,809.4       2,965.1  
               
    Shareholders’ equity:          
    Share capital       0.8       0.8  
    Additional paid-in capital       3,125.5       3,049.5  
    Treasury shares at cost       (14,579.6 )     (14,264.4 )
    Accumulated other comprehensive gain       (2.9 )     (10.3 )
    Retained earnings       14,204.7       14,013.8  
    Total shareholders’ equity       2,748.5       2,789.4  
    Total liabilities and shareholders’ equity     $ 5,557.9     $ 5,754.5  
    Total cash and cash equivalents, marketable securities, and short-term deposits     $ 2,932.0     $ 2,783.8  
    CHECK POINT SOFTWARE TECHNOLOGIES LTD.
    SELECTED CONSOLIDATED CASH FLOW DATA
     
    (Unaudited, in millions)
     
      Three Months Ended
      March 31,
        2025       2024  
    Cash flow from operating activities:      
    Net income $ 190.9     $ 183.9  
    Adjustments to reconcile net income to net cash provided by operating activities:      
    Depreciation of property and equipment   5.2       7.3  
    Amortization of intangible assets   19.2       13.5  
    Stock-based compensation   41.2       41.6  
    Realized loss on marketable securities   0.1       –  
    Decrease in trade and other receivables, net   329.4       265.4  
    Decrease in deferred revenues, trade payables and other accrued liabilities   (142.1 )     (140.6 )
    Deferred income taxes, net   (22.8 )     (10.1 )
    Net cash provided by operating activities   421.1       361.0  
           
    Cash flow from investing activities:      
    Investment in property and equipment   (7.4 )     (6.5 )
    Net cash used in investing activities   (7.4 )     (6.5 )
           
    Cash flow from financing activities:      
    Proceeds from issuance of shares upon exercise of options   46.0       45.6  
    Purchase of treasury shares   (325.0 )     (325.0 )
    Payments related to shares withheld for taxes   (1.5 )     (1.1 )
    Net cash used in financing activities   (280.5 )     (280.5 )
           
    Unrealized gain on marketable securities, net   15.0       1.6  
           
    Increase in cash and cash equivalents, marketable securities, and short-term deposits   148.2       75.6  
           
    Cash and cash equivalents, marketable securities, and short-term deposits at the beginning of the period   2,783.8       2,959.7  
           
    Cash and cash equivalents, marketable securities, and short-term deposits at the end of the period $ 2,932.0     $ 3,035.3  

    The MIL Network –

  • MIL-OSI: Form 8.5 (EPT/RI) – Inspired Plc

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.5 (EPT/RI)

    PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY
    Rule 8.5 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)        Name of exempt principal trader: Shore Capital Stockbrokers Ltd
    (b)        Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 Inspired Plc
    (c)        Name of the party to the offer with which exempt principal trader is connected: Inspired Plc
    (d)        Date dealing undertaken: 22 April 2025
    (e)        Has the EPT previously disclosed, or is it today disclosing, under the Code in respect of any other party to this offer? No

    2.        DEALINGS BY THE EXEMPT PRINCIPAL TRADER

    (a)        Purchases and sales

    Class of relevant security Purchases/ sales Total number of securities Highest price per unit paid/received Lowest price per unit paid/received
    Ordinary Purchases 85,616 68p 66.75p
    Ordinary Sales 5,463 61.5p 61.5p

    (b)        Derivatives transactions (other than option)

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
             

    (c)        Options transactions in respect of existing securities

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
                   

    (ii)        Exercising

    Class of relevant security Product description
    e.g. call option    		 Number of securities Exercise price per unit
           

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
           

    The currency of all prices and other monetary amounts should be stated.

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    3.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    If there are no such agreements, arrangements or understandings, state “none”

    None

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:
    (i)        the voting rights of any relevant securities under any option; or
    (ii)        the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    None
    Date of disclosure: 23 April 2025
    Contact name: Justin Ball
    Telephone number: 0207 647 8130

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk. The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s dealing disclosure requirements on +44 (0)20 7638 0129.
    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: Founder of UK Mortgage Centre shares five biggest mistakes people make when buying a house

    Source: GlobeNewswire (MIL-OSI)

    WARRINGTON, United Kingdom, April 23, 2025 (GLOBE NEWSWIRE) — A property and mortgage expert has shared the five most common mistakes people make when purchasing a home.

    Sam Fox, the founder of UK Mortgage Centre, issued his advice as the market gets set to enter its most frenetic period of 2025.

    Spring is always one of the most popular periods of the year to buy a house, with May 31, 2024, being the busiest day of the year to move home last year.

    And latest data indicates 2025 is going to be equally as busy.

    According to Zoopla, the property market is being swamped with listings, and there are 11 per cent more homes for sale now compared to this time last year.

    Zoopla estimates the average estate agent now has 33 homes for sale compared to 29 last year.

    Making the right decisions at the right moment will therefore be key for anyone looking to buy a property.

    Property expert Sam, who has helped support thousands of people to move home, said: “The market is very competitive, but as always, there are good deals out there to capitalise upon if you take the right steps.”

    “In my experience, the buyers who do best are the ones who prepare in advance and have a clear plan. You can’t neglect the groundwork. Preparation is everything; understand your budget, your options, and the bigger picture before you commit to anything.”

    Sam breaks down five of the most common mistakes buyers make, along with his advice on how to stay a step ahead:

    1. Viewing homes without knowing your budget
    “This still happens more often than you’d think. People fall for a home emotionally, only to discover they’re chasing something out of reach. Before falling in love with a home, it’s so important to know exactly what you can afford. An agreement in principle tells you exactly what you can afford, saving time and setting expectations. Without it, buyers risk disappointment and delays. In markets like Swindon, where house prices have reached up to seven times the average salary, being financially clear-headed isn’t optional, it’s essential.”

    2. Believing all mortgage brokers are the same
    “Many buyers assume that every broker offers access to the same deals. This isn’t the case, Some brokers are tied to just a few lenders. That means you might miss out on a better deal elsewhere. A whole-of-market broker searches exactly that, the whole-of-market – searching up to thousands of products.

    “Some lenders are restricted to specific lender panels or driven by commission incentives, which can influence the advice they give. In today’s shifting mortgage market the right adviser doesn’t just find you a product, they help you make a better long-term decision.”

    3. Overlooking the real cost of homeownership
    “A mortgage might be your biggest bill, but it is far from the only one. There’s council tax, insurance, gas and electric, and saving for any unexpected repairs. People budget for their monthly repayments but forget to factor in what I call ‘life costs’. The things that always pop up. These hidden costs can stretch your budget thin if you’re not prepared. From energy bills to boiler repairs, make sure you have accounted for the full picture, not just the mortgage.”

    4. Making an offer without doing your homework
    “Getting caught up in the excitement of a property is natural. However, rushing into an offer without understanding the market can be a misstep. Check what similar homes have sold for in the area you’re looking to buy. Talk to estate agents and ask questions. Zoopla data shows that two-fifths of sellers accepted offers at least 5% below the asking price in early 2024, meaning there’s usually room to negotiate.

    5. Damaging your credit mid-application
    “This one is all about timing. Once your mortgage application is in progress, don’t take out any more credit like purchasing a new car on finance. Once you’re in the final stages of a mortgage application, it’s not the time to make big financial moves.

    “Lenders often do final checks just before completion. A sudden dip in your credit score or an increase in debt can lead to your mortgage offer being pulled, even at the last minute. The advice here is simple: don’t touch your credit until you’ve got the keys.”

    Sam concluded: “Buyers should treat the process with excitement but go slow and steady. This is one of the biggest purchases you will ever make. With the average mortgage term stretching 35 years and household budgets under pressure, careful planning is more than just sensible; it is essential.”

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f50b0ee5-f30b-4b25-a78f-46de1c482e6a

    The MIL Network –

  • MIL-OSI: MEXC Exchange Report Shows Airdrops Resulting in Up to 35% New User Registrations

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, April 23, 2025 (GLOBE NEWSWIRE) — A report released by MEXC, a leading global crypto exchange, indicates that airdrop campaigns account for approximately one-third of new user registrations during peak months. The numbers showcase the effectiveness of airdrops as a marketing instrument that crypto projects can leverage to attract new audiences and bootstrap engagement. The report also highlights the importance of ongoing structural shifts taking place in the industry across regions, as well as user motivation swings.

    Key Takeaways:

    • Peak user acquisition rates driven by airdrops reach up to 35% in certain months.
    • User behavior is influencing airdrop campaign participation through deeper mobile penetration and the involvement of gamification mechanisms.
    • 76% of users who sign up via airdrop campaigns remain on the platform, with 18% becoming active traders and 58% trading occasionally.
    • The CIS region leads in terms of involvement at 67%, followed by Southeast Asia at 51%, and South Asia at 32%.
    • Airdrops are evolving into a means of financial inclusion, in addition to acting as an effective marketing instrument.

    MEXC analyzed user behavior during airdrop campaigns and identified a significant shift in the audience. While regions with low levels of access to banking services previously served as the main source of airdrop participants, the latest report indicates that new channels of user onboarding are ousting the trend. Gamification and Tap-to-Earn games in mobile-based Telegram channels are taking center stage as key registration sources for users with no previous experience in crypto. For instance, games like Hamster Kombat attracted over 70 million users, other notable examples of similar grade being Notcoin and Yescoin.

    According to the data compiled as a result of the research, users who received their first airdrop tokens demonstrated varying degrees of continued involvement in the crypto industry. As many as 18% maintained active trading patterns and delved deeper into crypto services, 58% traded occasionally, while 24% were one-off users, withdrawing their funds without further engagement in trading. The users who evolve into active traders showcase an average daily trading volume above $58,000, with select ones achieving $31 million.

    Regional segmentation of the users attracted via airdrops shows that the CIS is in a leading position, with 67% of the total, followed by Southeast Asia at 51%, and South Asia with 32%. The results of the analysis correlate with low levels of access to banking services in the given regions. They also align with data provided by Chainalysis, which positioned India, Vietnam, and the Philippines as the countries in Asia with the highest rates of crypto adoption, driven by low levels of banking services access and rapid spread of internet coverage in rural areas.

    The limited financial inclusion of the countries in the indicated regions into the international banking system paves the way for cryptocurrencies to act as alternative means of payment both abroad and within domestic economies. Users participating in airdrops either withdraw them to fiat or use them for their needs. Pakistan and the Philippines are leading in this regard.

    The report released by MEXC highlights the prominent role airdrops are occupying in the evolving crypto landscape, transforming from a marketing action into a separate instrument for user engagement. The ability to attract 35% new user registrations via airdrops in select regions like the CIS and Asia is a powerful factor acting in favor of using the given approach to expanding the crypto industry and advancing its maturity.

    About MEXC

    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

    For more information, visit: MEXC Official Website | X | Telegram | How to Sign Up on MEXC
    For media inquiries, please contact MEXC PR Manager Lucia Hu: lucia.hu@mexc.com

    Source

    Disclaimer: This press release is provided by the MEXC. 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.

    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/39d569ad-f949-4d60-af4a-a3cdf668d85d

    The MIL Network –

  • MIL-OSI: Form 8.5 (EPT/RI)-Anexo Group plc

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.5 (EPT/RI)

    PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY
    Rule 8.5 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)        Name of exempt principal trader:         Investec Bank plc
    (b)        Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 Anexo Group plc
    (c)        Name of the party to the offer with which exempt principal trader is connected: Investec is Financial Adviser to DBAY
    (d)        Date dealing undertaken: 22nd April 2025
    (e)        In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to this offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        DEALINGS BY THE EXEMPT PRINCIPAL TRADER

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchases/ sales Total number of securities Highest price per unit paid/received Lowest price per unit paid/received

    Ordinary shares

    Sales

    		 13,879 59 51.5

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    N/A N/A N/A N/A N/A

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    N/A N/A N/A N/A N/A N/A N/A N/A

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit
    N/A N/A N/A N/A N/A

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    N/A N/A N/A N/A

    3.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    None

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:
    (i)        the voting rights of any relevant securities under any option; or
    (ii)        the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
    None
    Date of disclosure: 23rdApril 2025
    Contact name: Priyali Bhattacharjee
    Telephone number: +91 9768034903

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s dealing disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: Notice of Issuer Call

    Source: GlobeNewswire (MIL-OSI)

    LEI: 2138002M5U5K4OUMVV62

    Ringkjøbing Landbobank Aktieselskab (the “Issuer”)

    Notice of Issuer Call

    to the holders of
    DKK 450,000,000 Callable Non-Preferred Senior Floating Rate Notes due May 2026
    ISIN code: DK0030488614 (the “Notes”)

    Notice is hereby given to holders of the Notes that, pursuant to the Final Terms dated 11 May 2021 applicable to the Notes, the Issuer will redeem all outstanding Notes on the Optional Redemption Date, 19 May 2025.

    The Notes will be redeemed at the Optional Redemption Amount together with accrued interest to (but excluding) the Optional Redemption Date. The Optional Redemption Amount of each Note will be DKK 1,000,000 per Calculation Amount.

    The Issuer confirms that it has obtained the consent of the Danish Financial Supervisory Authority to redeem the Notes.

    The Issuer will request the London Stock Exchange to cancel the trading of the Notes on the London Stock Exchange’s regulated market and the listing of the Notes on the Official List of the London Stock Exchange effective from 19 May 2025.

    Date: 23 April 2025

    Ringkjøbing Landbobank Aktieselskab

    John Fisker                        Lars Hindø

    CEO                        Chief of staff

    Attachment

    The MIL Network –

  • MIL-OSI: JLT Mobile Computers renews its five-year agreement with Kaleris to continuously validate their computers for major releases of the N4 Terminal Operating System

    Source: GlobeNewswire (MIL-OSI)

    Image available: pr@jltmobile.com

    This announcement underscores JLT’s long-term commitment to the port segment and their dedication to providing robust, reliable solutions for container terminal operations

    Växjö, Sweden,22 April 2025 * * * JLT Mobile Computers, a leading supplier of rugged computers, has announced the renewal of the Navis Ready Partner Program Agreement with Kaleris. This marks ten years of close and successful cooperation between JLT and Kaleris.

    With Navis Ready validation, ports and terminals can rely on a seamless integration of the JLT computers with Kaleris N4 Terminal Operating System (TOS) for all major releases within the coming five-year period.

    Future-proof, risk-free hardware and software integration with Kaleris N4 TOS
    More than 500 terminals in 80 countries use N4 TOS to improve operational efficiencies and lower the cost of handling containers and equipment at ports and terminals. To maintain these operational advantages across their workflow, terminals rely on validated technology partnerships.

    Navis Ready is a validation program that tests partner hardware and software solutions in a simulated environment to ensure compatibility with specific versions of the N4 TOS. By choosing a Navis Ready partner like JLT, terminal operators benefit from seamless project deployment, as compliance with the container terminal operating environment is pre-verified.  

    “We are happy that JLT committed to easy integration of our TOS by signing another five-year agreement. Together, JLT and Kaleris are ready to provide a strong offering to new and existing users of N4,” says Kirk Knauff, CEO of Kaleris.

    Rigorous validation tests of JLT rugged computers ensure seamless integration

    The JLT rugged computers undergo rigorous testing to earn their Navis Ready validation. These rugged computers are designed and built for harsh environments in container terminals. Whether installed inside a crane or truck cabin or outdoors, JLT rugged computers are used by many high-profile ports and terminals worldwide.

    “Since 2015, we have collaborated with Kaleris, and we were their first five-year validation partner in 2019. Many container terminals worldwide already use JLT solutions in their daily operations. Combining the extended Navis Ready validation for another five years with our rugged computers strengthens our long-term promise to meet our customers’ needs and ensures hassle-free and reliable operations,” says Per Holmberg, CEO of JLT Mobile Computers.

    N4 customers benefit from JLT’s long experience in ports and terminals as well as many other industries. JLT designs and develops a portfolio of rugged computers with the aim of maximizing efficiency and productivity in our customers’ operations.

    “When we chose the combination of JLT and N4 TOS, we required a strong operational foundation. After five years, it has truly delivered, and the ongoing support from both parties gives us confidence that they will continue to uphold the high standard we’ve come to rely on. With a renewed five-year agreement, we are assured that this partnership will keep driving our success,” says Orlando Valerón Rodríguez, IT Manager at OPCSA.

    To learn more about JLT Mobile Computers and the company’s products, services, and solutions, visit jltmobile.com/solutions/ports/

    About JLT Mobile Computers

    Reliable performance, less hassle. JLT Mobile Computers is a leading supplier of rugged mobile computing devices and solutions for global and local port operators, in particular, container terminals. Almost 30 years of development and manufacturing experience have enabled us to set the standard in rugged computing, combining outstanding product quality with expert service, support, and solutions. Operators depend on JLT computing devices in all their container handling equipment (CHE) to ensure trouble-free business operations 24/7. JLT participates in the Navis Ready Validation program to ensure interoperability with Kaleris N4. JLT operates globally from offices in Sweden, France and the US, complemented by an extensive network of sales partners in local markets. The company was founded in 1994, and its shares have been listed on the Nasdaq First North Growth Market stock exchange since 2002 under the symbol JLT. Eminova Fondkommission AB acts as Certified Adviser. Learn more at www.jltmobile.com.

    About Kaleris

    Kaleris is a global software company dedicated to solving the world’s most difficult supply chain transportation challenges. Trusted by over 650 companies across 80 countries, we provide mission-critical software for yard and transportation management, terminal operations, and ocean shipping. By building a more connected, visible, sustainable, and reliable global logistics ecosystem, we bridge the data gaps that create inefficiencies and empower our customers to achieve their goals. For more information, visit www.Kaleris.com Media contact: Suzy Swindle, suzy.swindle@kaleris.com  

    The MIL Network –

  • MIL-OSI: BE Semiconductor Industries N.V. Announces Q1-25 Results

    Source: GlobeNewswire (MIL-OSI)

    Q1-25 Revenue of € 144.1 Million and Net Income of € 31.5 Million
    Orders of € 131.9 Million Up 8.2% vs. Q4-24

    DUIVEN, The Netherlands, April 23, 2025 (GLOBE NEWSWIRE) — BE Semiconductor Industries N.V. (the “Company” or “Besi”) (Euronext Amsterdam: BESI; OTC markets: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the first quarter ended March 31, 2025.

    Key Highlights

    • Revenue of € 144.1 million, down 6.1% vs. Q4-24 due primarily to lower shipments for high-end mobile applications. Vs. Q1-24, down 1.5% due to lower shipments for mobile and automotive applications partially offset by strong growth in hybrid bonding and other AI related computing applications
    • Orders of € 131.9 million up 8.2% vs. Q4-24 primarily due to increased bookings by Asian subcontractors for AI related data center applications. Up 3.3% vs. Q1-24 due to higher bookings for hybrid bonding and other advanced computing applications  
    • Gross margin of 63.6% decreased by 0.4 points vs. Q4-24 and 3.6 points vs. Q1-24 due primarily to a less favorable product mix and, to a lesser extent, adverse net forex influences
    • Net income of € 31.5 million decreased 46.9% vs. Q4-24 primarily due to the absence of an € 18.2 million net tax benefit recognized in Q4-24, lower revenue and higher consulting costs. Down 7.4% vs. Q1-24 primarily due to lower revenue and gross margins partially offset by an 8.9% decrease in operating expenses. Similarly, Besi’s net margin declined to 21.9% vs. 38.6% in Q4-24 and 23.2% in Q1-24
    • Ex share-based incentive compensation and tax benefits, Besi’s adjusted net income (net margin) was € 35.9 million (24.9%) in Q1-25 vs. € 43.2 million (28.2%) in Q4-24 and € 49.5 million (33.8%) in Q1-24
    • Net cash of € 159.4 million increased € 15.6 million, or 10.8%, vs. Q4-24

    Outlook   

    • Revenue expected to be flat (plus or minus 10%) vs. € 144.1 million reported in Q1-25
    • Gross margin expected to range between 62-64% vs. 63.6% realized in Q1-25
    • Operating expenses expected to decrease 0-10% vs. € 52.5 million in Q1-25
    (€ millions, except EPS) Q1-2025 Q4-2024 Δ Q1-2024 Δ
    Revenue 144.1 153.4 -6.1% 146.3 -1.5%
    Orders 131.9 121.9 +8.2% 127.7 +3.3%
    Gross Margin 63.6% 64.0% -0.4 67.2% -3.6
    Operating Income 39.3 50.6 -22.3% 40.7 -3.4%
    EBITDA 46.6 58.0 -19.7% 47.5 -1.9%
    Net Income* 31.5 59.3 -46.9% 34.0 -7.4%
    Net Margin* 21.9 38.6% -16.7 23.2% -1.3
    EPS (basic) 0.40 0.75 -46.7% 0.44 -9.1%
    EPS (diluted) 0.40 0.74 -45.9% 0.44 -9.1%
    Net Cash and Deposits 159.4 143.8 +10.8% 180.9 -11.9%

    * Excluding share-based compensation expense and an € 18.2 million net tax benefit recognized in Q4-24, Besi’s adjusted net income (net margin) would have been € 35.9 million (24.9%), € 43.2 million (28.2%) and € 49.5 million (33.8%) in Q1-25, Q4-24 and Q1-24, respectively.

    Richard W. Blickman, President and Chief Executive Officer of Besi, commented:
    “Besi reported solid first quarter results and important new advanced packaging orders in a challenging market environment. Revenue of € 144.1 million was down 1.5% versus Q1-24 due to ongoing weakness in mobile and automotive end user markets partially offset by strong revenue growth from hybrid bonding and other AI related computing applications. In contrast, orders increased 3.3% versus Q1-24 and 8.2% versus Q4-24 due primarily to increased bookings by Asian subcontractors for AI related data center applications which more than offset weakness in mobile, automotive and Chinese end user markets.

    Of note, significant progress was made on Besi’s wafer level assembly agenda this quarter as we received hybrid bonding orders from two leading memory producers for HBM 4 applications as well as follow-on orders from a leading Asian foundry for logic applications. Further, important announcements were made by two leading semiconductor producers with respect to future hybrid bonding applications such as ASICs and co packaged optics. In addition, a leading US logic manufacturer successfully began production of AI related logic devices utilizing Besi’s hybrid bonders in integrated production lines.

    Besi’s profitability in Q1-25 remained at attractive levels despite ongoing weakness in mainstream assembly markets and expanded R&D investment in next generation assembly solutions for AI applications. Net income of € 31.5 million decreased 7.4% vs. Q1-24 primarily due to lower revenue and gross margins realized partially offset by an 8.9% decrease in operating expenses. Our gross margin has trended toward the lower end of our target range over the past three quarters due primarily to a less favorable product mix, particularly with respect to high-end smartphones, and net forex headwinds beginning in the second half of 2024 from adverse movements in some of our principal transaction currencies versus the euro. In addition, cash flow generation remains very positive with net cash at quarter end increasing 10.8% vs. Q4-24 to reach € 159.4 million.

    On April 14, Applied Materials announced a 9% ownership position in Besi. Besi and Applied Materials have been successfully collaborating since 2020 to co-develop the industry’s first fully integrated equipment solution for die-based hybrid bonding. The collaboration brings together Applied’s expertise in front-end wafer and chip processing with Besi’s leadership position in bonding accuracy and speed. We view their shareholding as a strategic, long-term investment and a further validation of our wafer level assembly technology and strategy.

    Our business development this year reflects the contrasting growth trends seen in the assembly equipment market between AI and mainstream applications. The timing and trajectory of a mainstream assembly upturn is more difficult to predict now given new tariff uncertainties. However, demand for advanced packaging for AI applications remains strong given upcoming new device introductions and use cases planned in the 2026-2028 time period. We continue to assess the potential impact of tariffs on Besi’s customers, supply chain and end user markets. For Q2-25, we forecast that revenue will be flat plus or minus 10% versus Q1-25 with gross margins in a range of 62%-64%. In addition, aggregate operating expenses are forecast to decrease 0-10% versus Q1-25 primarily due to a reduction in strategic consulting costs.”

    Share Repurchase Activity
    During the quarter, Besi repurchased approximately 187,000 of its ordinary shares at an average price of € 117.95 per share for a total of € 22.1 million. Cumulatively, as of March 31, 2025, a total of € 51.4 million has been purchased under the current € 100 million share repurchase plan at an average price of € 114.64 per share. As of March 31, 2025, Besi held approximately 2.0 million shares in treasury equal to 2.5% of its shares outstanding.

    Investor and media conference call
    A conference call and webcast for investors and media will be held today at 4:00 pm CET (10:00 am EDT). To register for the conference call and/or to access the audio webcast and webinar slides, please visit www.besi.com.
    Important Dates  
    •  Annual General Meeting of Shareholders April 23, 2025
    •  Investor Day/Amsterdam June 12, 2025
    •  Publication Q2/semi-annual results July 24, 2025
    •  Publication Q3/nine-month results October 23, 2025
    •  Publication Q4/full year results February 2026
       
    Dividend Information*  
    •  Proposed ex-dividend date April 25, 2025
    •  Proposed record date April 28, 2025
    •  Proposed payment of 2024 dividend Starting May 2, 2025
       

    * Subject to approval at Besi’s AGM on April 23, 2025

    Basis of Presentation
    The accompanying Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union. Reference is made to the Summary of Significant Accounting Policies to the Notes to the Consolidated Financial Statements as included in our 2024 Annual Report, which is available on www.besi.com.

    Contacts:
    Richard W. Blickman, President & CEO
    Andrea Kopp-Battaglia, Senior Vice President Finance      
    Claudia Vissers, Executive Secretary/IR coordinator
    Edmond Franco, VP Corporate Development/US IR coordinator
    Michael Sullivan, Investor Relations
    Tel. (31) 26 319 4500
    investor.relations@besi.com

    About Besi
    Besi is a leading manufacturer of assembly equipment supplying a broad portfolio of advanced packaging solutions to the semiconductor and electronics industries. We offer customers high levels of accuracy, reliability and throughput at a lower cost of ownership with a principal focus on wafer level and substrate assembly solutions. Customers are primarily leading semiconductor manufacturers, foundries, assembly subcontractors and electronics and industrial companies. Besi’s ordinary shares are listed on Euronext Amsterdam (symbol: BESI). Its Level 1 ADRs are listed on the OTC markets (symbol: BESIY) and its headquarters are located in Duiven, the Netherlands. For more information, please visit our website at www.besi.com.

    Caution Concerning Forward Looking Statements
    This press release contains statements about management’s future expectations, plans and prospects of our business that constitute forward-looking statements, which are found in various places throughout the press release, including, but not limited to, statements relating to expectations of orders, net sales, product shipments, expenses, timing of purchases of assembly equipment by customers, gross margins, operating results and capital expenditures. The use of words such as “anticipate”, “estimate”, “expect”, “can”, “intend”, “believes”, “may”, “plan”, “predict”, “project”, “forecast”, “will”, “would”, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The financial guidance set forth under the heading “Outlook” contains such forward-looking statements. While these forward-looking statements represent our judgments and expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from those contained in forward-looking statements, including any inability to maintain continued demand for our products; failure of anticipated orders to materialize or postponement or cancellation of orders, generally without charges; the volatility in the demand for semiconductors and our products and services; the extent and duration of the COVID-19 and other global pandemics and the associated adverse impacts on the global economy, financial markets, global supply chains and our operations as well as those of our customers and suppliers; failure to develop new and enhanced products and introduce them at competitive price levels; failure to adequately decrease costs and expenses as revenues decline; loss of significant customers, including through industry consolidation or the emergence of industry alliances; lengthening of the sales cycle; acts of terrorism and violence; disruption or failure of our information technology systems; consolidation activity and industry alliances in the semiconductor industry that may result in further increased customer concentration, inability to forecast demand and inventory levels for our products; the integrity of product pricing and protection of our intellectual property in foreign jurisdictions; risks, such as changes in trade regulations, conflict minerals regulations, currency fluctuations, political instability and war, associated with substantial foreign customers, suppliers and foreign manufacturing operations, particularly to the extent occurring in the Asia Pacific region where we have a substantial portion of our production facilities; potential instability in foreign capital markets; the risk of failure to successfully manage our diverse operations; any inability to attract and retain skilled personnel, including as a result of restrictions on immigration, travel or the availability of visas for skilled technology workers.

    In addition, the United States and other countries have recently levied tariffs and taxes on certain goods and could significantly increase or impose new tariffs on a broad array of goods. They have imposed, and may continue to impose, new trade restrictions and export regulations. Increased or new tariffs and additional taxes, including any retaliatory measures, trade restrictions and export regulations, could negatively impact end-user demand and customer investment in semiconductor equipment, increase Besi’s supply chain complexity and manufacturing costs, decrease margins, reduce the competitiveness of our products or restrict our ability to sell products, provide services or purchase necessary equipment and supplies. Any or all of the foregoing factor could have a material and adverse effect on our business, results of operations or financial condition. In addition, investors should consider those additional risk factors set forth in Besi’s annual report for the year ended December 31, 2024 and other key factors that could adversely affect our businesses and financial performance contained in our filings and reports, including our statutory consolidated statements. We expressly disclaim any obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise.

    Consolidated Statements of Operations
     
    (€ thousands, except share and per share data) Three Months Ended
    March 31,
    (unaudited)
      2025 2024
         
    Revenue 144,145 146,314
    Cost of sales 52,423 48,043
         
    Gross profit 91,722 98,271
         
    Selling, general and administrative expenses 32,958 39,641
    Research and development expenses 19,502 17,919
         
    Total operating expenses 52,460 57,560
         
    Operating income 39,262 40,711
         
    Financial expense, net 2,959 589
         
    Income before taxes 36,303 40,122
         
    Income tax expense 4,797 6,143
         
    Net income 31,506 33,979
         
    Net income per share – basic 0.40 0.44
    Net income per share – diluted 0.40 0.44
         
    Number of shares used in computing per share amounts:    
    – basic 79,228,071 77,181,326
    – diluted 1 81,522,177 82,106,146

    _____________________________
    1) The calculation of diluted income per share assumes the exercise of equity settled share based payments and the conversion of all Convertible Notes outstanding

    Consolidated Balance Sheets
     
    (€ thousands) March
    31, 2025
    (unaudited)    		 December
    31, 2024
    (audited)
    ASSETS    
         
    Cash and cash equivalents 405,736 342,319
    Deposits 280,000 330,000
    Trade receivables 170,440 181,862
    Inventories 103,836 103,285
    Other current assets 46,099 40,927
         
    Total current assets 1,006,111 998,393
         
    Property, plant and equipment 42,868 44,773
    Right of use assets 15,161 15,726
    Goodwill 45,610 46,010
    Other intangible assets 98,622 96,677
    Deferred tax assets 29,240 31,567
    Other non-current assets 1,347 1,330
         
    Total non-current assets 232,848 236,083
         
    Total assets 1,238,959 1,234,476
         
         
         
    Bank overdraft 840 776
    Current portion of long-term debt – 2,042
    Trade payables 46,598 52,630
    Other current liabilities 111,170 111,531
         
    Total current liabilities 158,608 166,979
         
    Long-term debt 525,493 525,653
    Lease liabilities 11,770 12,350
    Deferred tax liabilities 10,416 10,320
    Other non-current liabilities 19,328 17,910
         
    Total non-current liabilities 567,007 566,233
         
    Total equity 513,344 501,264
         
    Total liabilities and equity 1,238,959 1,234,476
    Consolidated Cash Flow Statements
     
    (€ thousands) Three Months Ended March 31,
    (unaudited)
    		  
      2025   2024  
         
    Cash flows from operating activities:    
         
    Income before income tax 36,303   40,122  
         
    Depreciation and amortization 7,307   6,813  
    Share based payment expense 4,441   16,900  
    Financial expense, net 2,959   589  
         
    Changes in working capital (2,113 ) (3,251 )
    Interest (paid) received (2,887 ) 1,169  
    Income tax (paid) received (1,575 ) (2,089 )
         
    Net cash provided by operating activities 44,435   60,253  
         
    Cash flows from investing activities:    
    Capital expenditures (1,733 ) (5,650 )
    Capitalized development expenses (6,737 ) (4,663 )
    Repayments of (investments in) deposits 50,000   10,000  
         
    Net cash provided by (used in) investing activities 41,530   (313 )
         
    Cash flows from financing activities:    
    Proceeds from bank lines of credit 64   –  
    Payments of lease liabilities (1,114 ) (1,043 )
    Purchase of treasury shares (22,064 ) (14,779 )
         
    Net cash provided by (used in) financing activities (23,114 ) (15,822 )
         
    Net increase (decrease) in cash and cash equivalents 62,851   44,118  
    Effect of changes in exchange rates on cash and cash equivalents 566   (542 )
    Cash and cash equivalents at beginning of the period 342,319   188,477  
         
    Cash and cash equivalents at end of the period 405,736   232,053  
    Supplemental Information (unaudited)
    (€ millions, unless stated otherwise)
     
    REVENUE Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                         
    Per geography:                    
    China 40.5   28 % 42.8   28 % 45.5   29 % 57.5   38 % 58.5   40 %
    Asia Pacific (excl. China) 56.3   39 % 53.5   35 % 51.6   33 % 54.1   36 % 43.6   30 %
    EU / USA / Other 47.3   33 % 57.1   37 % 59.5   38 % 39.6   26 % 44.2   30 %
                         
    Total 144.1   100 % 153.4   100 % 156.6   100 % 151.2   100 % 146.3   100 %
                         
    ORDERS Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                         
    Per geography:                    
    China 39.7   30 % 40.4   33 % 45.4   30 % 43.3   23 % 51.1   40 %
    Asia Pacific (excl. China) 51.7   39 % 38.8   32 % 69.3   46 % 72.0   39 % 45.0   35 %
    EU / USA / Other 40.5   31 % 42.7   35 % 37.1   24 % 69.9   38 % 31.6   25 %
                         
    Total 131.9   100 % 121.9   100 % 151.8   100 % 185.2   100 % 127.7   100 %
                         
    Per customer type:                    
    IDM 48.1   36 % 61.2   50 % 84.5   56 % 122.4   66 % 53.5   42 %
    Foundries/Subcontractors 83.8   64 % 60.7   50 % 67.3   44 % 62.8   34 % 74.2   58 %
                         
    Total 131.9   100 % 121.9   100 % 151.8   100 % 185.2   100 % 127.7   100 %
                         
    HEADCOUNT Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024
                         
    Fixed staff (FTE) 1,820   88 % 1,812   93 % 1,807   87 % 1,783   86 % 1,760   88 %
    Temporary staff (FTE) 251   12 % 134   7 % 271   13 % 279   14 % 236   12 %
                         
    Total 2,071   100 % 1,946   100 % 2,078   100 % 2,062   100 % 1,996   100 %
                         
    OTHER FINANCIAL DATA Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                         
    Gross profit 91.7   63.6 % 98.2   64.0 % 101.2   64.7 % 98.3   65.0 % 98.3   67.2 %
                         
                         
    Selling, general and admin expenses:                    
    As reported 33.0   22.9 % 28.6   18.6 % 27.3   17.4 % 30.5   20.2 % 39.6   27.1 %
    Share-based compensation expense (4.4 ) -3.1 % (2.9 ) -1.8 % (3.4 ) -2.1 % (6.9 ) -4.6 % (16.9 ) -11.6 %
                         
    SG&A expenses as adjusted 28.6   19.8 % 25.7   16.8 % 23.9   15.3 % 23.6   15.6 % 22.7   15.5 %
                         
                         
    Research and development expenses:                    
    As reported 19.5   13.5 % 19.0   12.4 % 18.9   12.1 % 18.5   12.2 % 17.9   12.2 %
    Capitalization of R&D charges 6.7   4.6 % 5.4   3.5 % 4.4   2.8 % 4.9   3.2 % 4.7   3.2 %
    Amortization of intangibles (3.7 ) -2.5 % (3.9 ) -2.5 % (3.9 ) -2.5 % (3.6 ) -2.3 % (3.6 ) -2.4 %
                         
    R&D expenses as adjusted 22.5   15.6 % 20.5   13.4 % 19.4   12.4 % 19.8   13.1 % 19.0   13.0 %
                         
                         
    Financial expense (income), net:                    
    Interest income (5.0 )   (5.1 )   (5.2 )   (3.0 )   (4.0 )  
    Interest expense 6.3     6.1     5.7     2.1     2.8    
    Net cost of hedging 1.8     2.0     1.9     1.4     1.6    
    Foreign exchange effects, net (0.1 )   0.9     (0.8 )   0.5     0.2    
                         
    Total 3.0     3.9     1.6     1.0     0.6    
                         
                         
    Operating income (as % of net sales) 39.3   27.2 % 50.6   33.0 % 55.1   35.2 % 49.3   32.6 % 40.7   27.8 %
                         
    EBITDA (as % of net sales) 46.6   32.3 % 58.0   37.8 % 62.4   39.8 % 56.2   37.2 % 47.5   32.5 %
                         
    Net income (as % of net sales) 31.5   21.9 % 59.3   38.6 % 46.8   29.9 % 41.9   27.7 % 34.0   23.2 %
                         
    Effective tax rate 13.2 %   -27.0 %   12.6 %   13.0 %   15.3 %  
                         
                         
    Income per share                    
    Basic 0.40     0.75     0.59     0.53     0.44    
    Diluted 0.40     0.74     0.59     0.53     0.44    
                         
    Average shares outstanding (basic) 79,228,071   79,402,192   79,630,787   79,281,533   77,181,326  
                         
    Shares repurchased                    
    Amount 22.1     22.4     27.8     14.8     14.8    
    Number of shares 186,869   198,450   230,807   105,042   101,049  
                         
                         
    Gross cash 685.7     672.3     637.4     257.2     447.1    
                         
    Net cash 159.4     143.8     110.7     74.4     180.9    
                         

    The MIL Network –

  • MIL-OSI: Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 May 2025 – Nykredit Realkredit A/S

    Source: GlobeNewswire (MIL-OSI)

    THIS ANNOUNCEMENT IS PUBLISHED PURSUANT TO SECTIONS 9(3)-(5) AND SECTION 21(3) OF EXECUTIVE ORDER NO. 636 OF 15 MAY 2020

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE DOING SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

    Publication of supplement concerning extension of offer period for Nykredit’s recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 May 2025

    23 April 2025

    Nykredit extends the offer period concerning the recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 May 2025

    In accordance with section 4(1) of the Danish Takeover Order1, Nykredit Realkredit A/S (“Nykredit”) announced on 10 December 2024 that Nykredit intended to submit a voluntary public tender offer (the “Offer”) to acquire all shares in Spar Nord Bank A/S (“Spar Nord Bank”), with the exception of Spar Nord Bank’s treasury shares, for a cash price of DKK 210 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion. As stated in the supplement dated April 2, 2025, the offer price has subsequently been increased to DKK 210.50 per share.

    On 8 January 2025, Nykredit published the offer document regarding the Offer (the “Offer Document”), as approved by the Danish FSA in accordance with section 11 of the Danish Takeover Order. In the Offer Document, the offer period was set to expire on 19 February 2025 at 23:59 (CET) (the “Initial Offer Period”). The Initial Offer Period was subsequently extended in supplements dated 18 February, 19 March and, most recently, 2 April 2025, where the offer period was extended to 24 April 2025 at 23:59 (CEST).

    Today, Nykredit published a supplement (the “Supplement”) to the Offer Document, which further extends the offer period for the Offer. The Supplement has been approved by the Danish FSA on 23 April 2025 in accordance with section 9(3)-(5) of the Danish Takeover Order. The Supplement should be read in conjunction with the Offer Document and the previous supplements.

    With this Supplement, Nykredit further extends the offer period, such that the Offer will expire on 20 May 2025 at 23:59 (CEST). Subsequently, any reference to the “Offer Period” in the Offer Document or other documents relating to the Offer will refer to the period commencing on the day of publication of the Offer Document on 8 January 2025 and ending on 20 May 2025 at 23:59 (CEST) (the “Extended Offer Period”).

    Nykredit has been informed by the Danish Competition and Consumer Authority that Nykredit’s merger notification regarding the Nykredit’s acquisition of sole control over Spar Nord Bank is considered complete as of 31 March 2025. Nykredit awaits the Danish Competition and Consumer Authority’s decision.

    The purpose of the extension is to provide Nykredit with time to obtain the approval from the Danish Competition and Consumer Authority required to complete the Offer. If the approval from the Danish Competition and Consumer Authority has not been granted by the expiry of the Extended Offer Period, Nykredit expects to extend the offer period further.

    The extension of the offer period entails that the expected completion of the Offer and settlement of the offer price to the Spar Nord Bank shareholders who have accepted the Offer will be extended correspondingly. Completion is subsequently expected to take place on 28 May 2025 (provided that the offer period is not extended further).

    At the time of this announcement, Nykredit holds 32.79 per cent of the shares in Spar Nord Bank.

    In the supplement dated 19 March 2025 to the Offer Document, Nykredit announced that a preliminary compilation of the acceptances that Nykredit had information about showed that, including the irrevocable undertakings, acceptances corresponding to more than 46 per cent of the share capital of Spar Nord Bank had been submitted, and that Nykredit’s ownership interest in Spar Nord Bank, together with the irrevocable undertakings and the binding acceptances submitted that Nykredit had information about, totalled more than 80 per cent of the total share capital (excluding treasury shares) of Spar Nord Bank, indicating that the 67 per cent acceptance limit stated in the Offer has been reached. The final result of the Offer will be determined on expiry of the offer period and published in accordance with section 21(3) of the Danish Takeover Order.

    Nykredit intends to delist Spar Nord Bank from trading on Nasdaq Copenhagen and complete a compulsory acquisition of the remaining Spar Nord Bank shareholders, provided that Nykredit has obtained the necessary ownership interest, and the Offer has been completed. Spar Nord Bank shareholders who have opted not to accept the Offer, should expect that Nykredit, provided that the Offer is completed, will take steps to combine Nykredit Bank A/S and Spar Nord Bank, which will result in a further increase in Nykredit’s ownership interest in Spar Nord Bank. Not later than in continuation of the combination, Nykredit thus expects to hold a sufficient ownership interest to be able to delist Spar Nord Bank from trading on Nasdaq Copenhagen and complete a compulsory acquisition of the remaining Spar Nord Bank shareholders.

    The full terms and conditions of the Offer are contained in the Offer Document as amended by the Supplement. The Offer Document and the Supplement are published in the Danish FSA’s OAM database: https://oam.finanstilsynet.dk/ and can also, with certain restrictions, be accessed at https://www.nykredit.com/kobstilbud-spar-nord/ and https://www.sparnord.dk/investor-relations/overtagelsestilbud.

    About Spar Nord Bank

    Spar Nord Bank was founded in 1824 and is now a nationwide bank with 58 branches. Spar Nord Bank offers all types of financial services, consultancy and products, focusing its business on retail customers and primarily small and medium-sized enterprises (SMEs) in the local areas in which the bank is represented. The bank is also focused on leasing operations and large corporate customers, which are both business areas handled by the head offices.

    Spar Nord Bank has historically been rooted in northern Jutland and continues to be a market leader in this region. However, in the period from 2002 to 2024, Spar Nord Bank has established and acquired branches outside northern Jutland. Over the course of the years, the bank has adjusted its branch network in an ongoing process and now has a nationwide distribution network comprising 58 branches. These 58 branches are distributed on 32 banking areas, each of which is headed by a manager reporting directly to the bank’s executive board.

    The Spar Nord Bank Group consists of two earnings entities: Spar Nord Bank’s branches and the Trading Division. As an entity, the Trading Division serves customers from Spar Nord Bank’s branches as well as large retail customers and institutional clients in the field of equities, bonds, fixed income and forex products, asset management and international transactions. Finally, under the concept Sparxpres, the bank offers consumer loans to personal customers through Sparxpres’ platform as well as debt consolidation loans and consumer financing via retail stores and gift voucher solutions via shopping centres and city associations.

    About Nykredit

    Nykredit Realkredit A/S (“Nykredit”) is a public limited company incorporated under the laws of Denmark, company reg. (CVR) no. 12 71 92 80, having its registered office at Sundkrogsgade 25, 2150 Nordhavn, Denmark. Nykredit is a mortgage credit institution and, together with its wholly-owned subsidiary Totalkredit A/S, is a market leader of the Danish mortgage credit market with a market share of some 45.2 per cent. Nykredit offers mortgage financing for private individuals and businesses.

    Nykredit is part of the Nykredit Group, which historically dates back to 1851. In addition to carrying on mortgage credit business, the Group carries on banking business through Nykredit Bank – including banking and wealth management operations – and has a total of around 4,000 employees in Denmark.

    Nykredit is owned by an association of the Nykredit Group’s customers, Forenet Kredit. Forenet Kredit owns close to 80 per cent of Nykredit’s shares. Other major shareholders are five Danish pension funds: Akademikernes Pension AP Pension, PensionDanmark, PFA and PKA.

    Nykredit is known for the advantages offered through the association. Forenet Kredit makes capital contributions to the Nykredit Group when times are good, and Nykredit has decided to pass these on to its customers.

    Since, 2017, Forenet Kredit has paid over DKK 8 billion in capital contributions to the Nykredit Group, and in the period to 2027, Forenet Kredit has provided a further DKK 7 billion.

    Questions and further information

    Any questions concerning the Offer may be directed to:

    Nykredit Bank A/S

    Company reg. (CVR) no.: 10 51 96 08

    Sundkrogsgade 25

    2150 Nordhavn
    Denmark

    Telephone: +45 7010 9000

    and

    Carnegie Investment Bank

    Filial af Carnegie Investment Bank AB (publ), Sverige

    Company reg. (CVR) no. 35 52 12 67

    Overgaden Neden Vandet 9B

    1414 Copenhagen K
    Denmark

    E-mail: annette.hansen@carnegie.dk

    For further information about the Offer, please see: https://www.nykredit.com/kobstilbud-spar-nord/.

    This announcement and the Offer Document (with supplements) are not directed at shareholders of Spar Nord Bank A/S whose participation in the Offer would require the issuance of an offer document, registration or activities other than what is required under Danish law (and, in the case of shareholders in the United States of America, Section 14(e) of, and applicable provisions of Regulation 14E promulgated under, the US Securities Exchange Act of 1934, as amended). The Offer is not made and will not be made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the Offer or acceptance thereof would be in contravention of the laws of such jurisdiction. Any person coming into possession of this announcement, the Offer Document or any other document containing a reference to the Offer is expected and assumed to independently obtain all necessary information about any applicable restrictions and to observe these.

    This announcement does not constitute an offer or an invitation to purchase securities or a solicitation of an offer to purchase securities in accordance with the Offer or otherwise. The Offer will be submitted only in the form of the Offer Document (with supplements) approved by the FSA, which sets out the full terms and conditions of the Offer, including information on how to accept the Offer. The shareholders of Spar Nord Bank are advised to read the Offer Document and any related documents as they contain important information.

    Restricted jurisdictions

    The Offer is not made, and acceptance of the Offer to tender Spar Nord Bank shares is not accepted, neither directly nor indirectly, in or from any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction or would require any registration, approval or any other measures with any regulatory authority not expressly contemplated by the Offer Document (the “Restricted Jurisdictions”). Neither the United States nor the United Kingdom is a Restricted Jurisdiction.

    Restricted Jurisdictions include, but are not limited to: Australia, Canada, Hong Kong, Japan, New Zealand and South Africa.

    Persons obtaining documents or information relating to the Offer (including custodians, account holding institutions, nominees, trustees, representatives, fiduciaries or other intermediaries) should not distribute, communicate, transfer or send these in or into a Restricted Jurisdiction or use mail or any other means of communication in or into a Restricted Jurisdiction in connection with the Offer. Persons (including, but not limited to, custodians, custodian banks, nominees, trustees, representatives, fiduciaries or other intermediaries) intending to communicate this announcement, the Supplement, the Offer Document or any related document to any jurisdiction outside Denmark or the United States should inform themselves about these restrictions before taking any action. Any failure to comply with these restrictions may constitute a violation of the laws of such jurisdiction, including securities laws. It is the responsibility of all Persons obtaining this announcement, the Supplement, the Offer Document, earlier supplements, an acceptance form and/or other documents relating to the Offer, or into whose possession such documents otherwise come, to inform themselves about and observe all such restrictions.

    Nykredit is not responsible for ensuring that the distribution, dissemination or communication of this announcement, the Supplement or the Offer Document to shareholders outside Denmark, the United States and the United Kingdom is consistent with applicable law in any jurisdiction other than Denmark, the United States and the United Kingdom.

    Important Information for Shareholders in the United States

    The Offer concerns the shares in Spar Nord Bank, a public limited liability company incorporated and admitted to trading on a regulated market in Denmark, and is subject to the disclosure and procedural requirements of Danish law, including the Danish capital markets act and the Danish takeover order.

    The Offer is being made to shareholders in Spar Nord Bank in the United States in compliance with the applicable US tender offer rules under the U.S. Securities Exchange Act of 1934, as amended, (the “U.S. Exchange Act”), including Regulation 14E promulgated thereunder, subject to the relief available for a “Tier II” tender offer, and otherwise in accordance with the requirements of Danish law and practice

    Accordingly, US Spar Nord Bank shareholders should be aware that this announcement and any other documents regarding the Offer have been prepared in accordance with, and will be subject to, the disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable, settlement procedures and timing of payments of Danish law and practice, which may differ materially from those applicable under US domestic tender offer law and practice. In addition, the financial information contained in this announcement or the Offer Document has not been prepared in accordance with generally accepted accounting principles in the United States, or derived therefrom, and may therefore differ from, or not be comparable with, financial information of US companies.

    In accordance with the laws of, and practice in, Denmark and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, Nykredit, Nykredit’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Nykredit or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States, shares in Spar Nord Bank or any securities that are convertible into, exchangeable for or exercisable for such shares in Spar Nord Bank before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be announced via Nasdaq Copenhagen and relevant electronic media if, and to the extent, such announcement is required under applicable law. To the extent information about such purchases or arrangements to purchase is made public in Denmark, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Spar Nord Bank of such information.

    In addition, subject to the applicable laws of Denmark and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to Nykredit or their respective affiliates may also engage in ordinary course trading activities in securities of Spar Nord Bank, which may include purchases or arrangements to purchase such securities.

    It may not be possible for US shareholders to effect service of process within the United States upon Spar Nord Bank, Nykredit or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States, or to enforce against any of them judgments of the United States courts predicated upon the civil liability provisions of the federal securities laws of the United States or other US law. It may not be possible to bring an action against Nykredit, Spar Nord Bank and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel Nykredit and Spar Nord Bank or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce in Denmark original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.

    The Offer, if completed, may have consequences under US federal income tax and under applicable US state and local, as well as non-US, tax laws. Each shareholder of Spar Nord Bank is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.

    NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

    1 Executive Order no. 636 of 15 May 2020

    Attachments

    The MIL Network –

  • MIL-OSI: Consensus estimates ahead of Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    Alm. Brand Group hereby publish consensus estimates prior to the announcement of the Q1 results.

    Consensus estimates are also available via: almbrand.dk

    Conference Call

    Alm. Brand Group will report its Q1 2025 results on May 1 at 07:30 CET and host a conference call with management at 11:00 CET on the day of release.

    Dial in for analysts and investors (pincode: 743033):

    Denmark: +45 89 87 50 45

    UK: +44 20 3936 2999

    USA: +1 646 664 1960

    Contact

    Please direct any questions regarding this announcement to:

    Investors and equity analysts:                         

    Mads Thinggaard – Head of IR, Rating & ESG Reporting – mobile no. +45 2025 5469                                                                                              

    Press:                                                                                           

    Mikkel Luplau Schmidt – Head of Media Relations – mobile no. +45 2052 3883

    Attachments

    The MIL Network –

  • MIL-OSI: Philipp Rüede appointed CEO SCOR L&H and Member of SCOR’s Executive Committee

    Source: GlobeNewswire (MIL-OSI)

    Press release
    23 April 2025 – N° 08

    Philipp Rüede appointed CEO SCOR L&H 
    and Member of SCOR’s Executive Committee

    We are pleased to announce Philipp Rüede as the new CEO SCOR Life & Health and a Member of the Executive Committee. Philipp is replacing Frieder Knüpling who stepped down in July 2024. Philipp’s immediate priorities will be to drive the L&H new business strategy, to protect and deliver the in-force value, and to improve the cash profile of the L&H business, in line with the updated L&H strategy unveiled at our Investor Day in December 2024.

    Philipp Rüede, a dual Swiss and German citizen, is a graduate of the Ecole Polytechnique in Paris and holds a Master’s degree in Engineering from the Swiss Federal Institute of Technology (ETH Zürich). He has more than 20 years of experience in Banking and Reinsurance. Philipp began his career in 1999, in the Equity Derivatives Structuring and Trading department at Bank Vontobel in Zurich. From 2000 to 2010, he was Global Co-Head of Equity Derivatives Structuring at CS First Boston, splitting his time between the Zurich and Hong Kong offices. In 2010, he became a Partner at the Swiss electronic trading company Arbillon Capital AG. Moving into the reinsurance industry in 2013, he joined Swiss Re in Zurich as Head of Reinsurance Capital Management, overseeing the optimization of capital efficiency within the Group. From 2015 to 2019, he led a dedicated team of more than 75 professionals as Global Head of P&C Structured Solutions. In 2019, he was appointed Head of the newly formed Alternative Capital Partners team, collaborating across P&C and L&H (re)insurance lines to proactively manage risk limits and enhance the company’s flexible capital structure.

    Philipp will take up his position on 1 June 2025.

    Thierry Léger, Chief Executive Officer of SCOR, comments: “Philipp will bring very valuable and complementary skills to SCOR. With his extensive experience and wide-ranging expertise, Philipp has all the qualities required to continue the transformation of our L&H business, restore its profitability, and improve its cash profile. The whole Executive Committee joins me in welcoming Philipp and wishing him every success in his new responsibilities.”

    *

    *        *

    SCOR, a leading global reinsurer

    As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk,” SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society.

    The Group generated premiums of EUR 20.1 billion in 2024 and serves clients in more than 150 countries from its 37 offices worldwide.

    For more information, visit: www.scor.com

    		 Media Relations
    Alexandre Garcia
    media@scor.com

    Investor Relations
    Thomas Fossard
    InvestorRelations@scor.com

    Follow us on LinkedIn
     

    All content published by the SCOR group since January 1, 2024, is certified with Wiztrust. You can check the authenticity of this content at wiztrust.com.

    Attachment

    The MIL Network –

  • MIL-OSI: Sterling Trading Tech Names Julie Armstrong Chief Commercial Officer

    Source: GlobeNewswire (MIL-OSI)

    Chicago , April 23, 2025 (GLOBE NEWSWIRE) — Sterling Trading Tech (Sterling), a leading global provider of technology in order management, risk and margin, and trading, announced today the appointment of Julie Armstrong as Chief Commercial Officer, a newly created role that underscores the firm’s commitment to scaling its business globally. This strategic hire signals Sterling’s transition into its next phase of accelerated growth, building on recent momentum across new client segments, product innovation, asset expansion, and geographic reach.

    Armstrong, a recognized industry expert, brings decades of experience in global fintech strategy and revenue generation. She will lead Sterling’s expansion into evolving market segments worldwide and will implement strategic revenue initiatives across the firm’s OMS, Risk and Margin, and Trading Platforms, covering all asset classes globally.

    Previously, Armstrong served as an Independent Board Member, and later as Chief Commercial Officer at ChartIQ. Prior to that she was Executive Director, Global Head of Market Technology Services at the CME Group Inc. (Nasdaq: CME), where she led co-location, connectivity and software trading services while overseeing market data sales. She is known for launching CME’s Tech Talk series and held a Board role while helping to ignite the Women’s Initiative Network during her eight years at the Exchange. Early in her career, Armstrong was VP, Head of U.S. Sales and Implementations at RealTick (now EZE Software, a unit of SS&C Technologies [Nasdaq: SSNC]).

    Said Sterling Trading Tech President & CEO Jen Nayar: “Sterling is entering a transformational period in its evolution. We’ve made major investments in product innovation and infrastructure to support institutional growth and global expansion. Julie’s appointment is essential to our revenue efforts. She is the ideal executive to anticipate increased demands by new segments and to expand our franchise in the industry. With her joining, the executive team – now fully in place – can capture increased market share across all industry participants.”

    Armstrong commented, “The firm is uniquely positioned as a next-generation infrastructure provider in the financial markets. This is an incredible opportunity to contribute to the growth and scalability of an organization that is already making such a profound impact in our industry. I am deeply committed to driving exceptional results and collaborating with the talented team here to foster innovation and build upon the company’s success. I am excited for the journey ahead and eager to bring my experience to this pivotal role.”

    -END-

    About Sterling Trading Tech
    Sterling Trading Tech (Sterling) is a leading provider of professional trading technology solutions for the global equities, equity options and futures markets. With over 100 clients including leading brokers, clearing firms and prop groups in over 20 countries, Sterling provides solutions tailored to clients’ needs. Sterling is committed to providing fast, stable technology along with outstanding customer service. Sterling provides trading platforms, OMS and risk products to its clients.

    Media Contact:
    Magdalena Mayer
    magdalena.mayer@sterlingtradingtech.com
    (312) 346-9600

    The MIL Network –

  • MIL-OSI: TomTom provides enhanced navigation to smart’s in-vehicle solutions

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, April 23, 2025 (GLOBE NEWSWIRE) — Auto Shanghai – TomTom (TOM2), the location technology specialist, today announced that it has been selected by smart, the premium all-electric intelligent auto brand, to provide enhanced full-stack navigation solutions for smart’s in-vehicle infotainment systems across global markets.

    Through this partnership, TomTom elevates the driving experience by providing the smart #1, smart #3 and smart #5 models with industry-leading maps and a suite of intuitive navigation features. Drivers will benefit from TomTom’s real-time updates and alerts on traffic conditions, local hazards, and potential dangers, providing greater peace of mind in dynamic road conditions.

    The smart models feature TomTom’s advanced EV services, empowering drivers to embrace electric mobility, even on longer journeys. Furthermore, the models will leverage TomTom’s Advanced Driver Assistance Systems (ADAS) maps, including speed limit information compliant with European standards (ISA) and EuroNCAP safety regulations, for safer and more efficient driving.

    “We are thrilled to partner with smart to enhance their new generation of zero-emission electric vehicles with our advanced mapping and location data,” said Benoit Joly, SVP Sales, TomTom. “We’ve optimized the infotainment system to provide a seamless navigation solution, combining our high-precision maps and real-time travel insights to deliver a great EV experience.”

    “TomTom’s leadership in navigation technology perfectly complements smart’s commitment to delivering premium, electric, and connected vehicles,” said Yang Jun, Global CTO, smart. “By incorporating real-time traffic data, EV charger availability, and individual driving styles, we ensure our drivers have access to optimal charging stops and seamless route adjustments, making electric driving even more convenient and enjoyable.”

    About TomTom:

    Billions of data points. Millions of sources. Thousands of communities. 

    We are the mapmaker bringing it all together to build the world’s smartest map. We provide location data and technology to drivers, carmakers, businesses and developers. Our application-ready maps, routing, real-time traffic, APIs and SDKs empower the dreamers and doers to move our world forward. 

    Headquartered in Amsterdam with 3,600 employees around the globe, TomTom has been shaping the future of mobility for over 30 years. 

    www.tomtom.com

    About smart:

    Since the birth of the brand in the 90s, smart has always maintained the vision of exploring the best solutions for future urban mobility. smart was officially established in 2019 with a forward-looking “China-Europe, dual home” global development strategy, and is committed to becoming a world-leading, new-premium, intelligent and all-electric auto brand.

    Following the comprehensive renewal of the brand, product and business model, smart will “Sprint to the Next Level” and has updated its brand claim. “open your mind” reflects a commitment to embracing diversity of thoughts, cultures, and beliefs, with an optimistic and open attitude, and making inspiration a reality through innovation. Engineering, research, and development for the new generation all-electric vehicle portfolio is led by the smart R&D team, with the Mercedes-Benz Global design team overseeing vehicle design. smart has introduced three SUV models, namely the #1, #3, and the all-new smart #5, which indicates the brand’s formal foray into the premium mid-size all-electric SUV market segment.

    For further information:

    Media Relations

    mediarelations@tomtom.com

    Investor Relations

    ir@tomtom.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cbcd6e74-0fb0-4194-aa77-ea9428fdfc93

    The MIL Network –

  • MIL-OSI: Alchera X Deepens Its Commitment this Earth Day with Fundraiser to Support the National Forest Reforestation

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, April 23, 2025 (GLOBE NEWSWIRE) — In honor of Earth Day, Alchera X (“AX”) is deepening its commitment to the planet by launching a company-wide fundraiser in support of the National Forest Foundation (“NFF”). Over the past few years, AX has demonstrated its commitment to reforestation efforts in areas affected by wildfires, donating over $10,000 to support the NFF’s crucial conservation initiatives.

    While Alchera X’s advanced AI platform, FireScout, plays a critical role in detecting and preventing future wildfires, this initiative focuses on healing—helping to restore the landscapes already affected by devastating wildfire events.

    From now, through the end of April, Alchera X is encouraging employees, partners, friends, and family to contribute to a dedicated reforestation fund. Every dollar raised will go directly to the National Forest Foundation to help plant trees in areas hardest hit by wildfires, supporting vital ecosystem recovery and long-term climate resilience.

    “Our mission at Alchera X has always been about protecting communities, ecosystems, and our future,” said Michael Plaksin, President and CEO of Alchera X. “While FireScout helps detect and reduce the spread of wildfires, replanting trees is how we give back to the land that has been scarred. Continuing our partnership and strengthening our commitment to NFF means, we’re not only working to prevent future damage—we’re actively restoring what’s already been lost.”

    This Earth Day, Alchera X invites its entire extended community to partake by going to their Fundraiser Page linked below.

    “Come join the family, and make your donation today. 
    With as little as $1, one tree is planted. 
    So, let’s do our part this Earth Month to help save our forests, one tree at a time. 
    Thank You!” 

    Make a donation here: 
    https://support.nationalforests.org/AX

    About NFF
    The National Forest Foundation works in close collaboration with the U.S. Forest Service to identify high-priority reforestation sites across the country. Their science-based approach ensures that new trees are planted where they’re needed most, helping to restore habitats, improve watershed health, and bolster the resilience of our forests.

    About AX
    Founded in 2016, AX is an artificial intelligence Software-as-a-Service (SaaS) company that has developed award-winning proprietary technology in the areas of facial and visual artificial intelligence (AI) including facial recognition, wildfire detection, augmented reality, and more. AX develops and distributes innovative products that enhance safety and security across various industries worldwide.

    AX utilizes artificial intelligence to provide facial and visual recognition in real time on a 24/7/365 basis. Our technology seamlessly integrates into existing camera/monitor systems. We offer the most informative, effective, and supportive user interface system in the market today. Our AI has been used on over 1,000 cameras throughout the Western United States and is considered to be the de facto standard in AI.

    Join the Conversation: Follow us on LinkedIn – AX and FireScout, Twitter and YouTube.

    Media Contact:
    Palak Kapasi
    Head of Marketing & Public Relations, AX
    AXmedia@alcherainc.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/06c43022-5b51-4046-97c0-1dfc0fdfa680

    The MIL Network –

  • MIL-OSI: Q1 2025 Trading Update and Invitation to Earnings Call

    Source: GlobeNewswire (MIL-OSI)

    Oslo, 23 April 2025 – DNO ASA, the Norwegian oil and gas operator, will publish its Q1 2025 operating and interim financial results on 15 May at 07:00 (CET). A videoconference call with executive management will follow at 14:00 (CET). Today the Company provides an update on production, sales volumes and other selected information for the quarter.

    Volumes (boepd) 

    Gross operated production Q1 2025 Q4 2024 Q1 2024
    Kurdistan 82,081 74,163 76,310
    North Sea 8,864 6,602 –
           
    Net entitlement production Q1 2025 Q4 2024 Q1 2024
    Kurdistan 18,464 17,424 20,503
    North Sea 19,296 19,031 14,217
           
    Sales Q1 2025 Q4 2024 Q1 2024
    Kurdistan 18,464 17,424 20,503
    North Sea 16,981 17,088 17,710
           
    Equity accounted production (net) Q1 2025 Q4 2024 Q1 2024
    Côte d’Ivoire         3,375 2,994 3,323

    Selected cash flow items

    DNO’s share of crude oil from the Tawke license during the quarter has been sold to local buyers as the Iraq-Türkiye Pipeline remained closed. All payments are made in advance of loadings with the vast majority transferred directly into DNO’s international bank accounts.

    In the first quarter, DNO paid a dividend of NOK 0.3125 per share (totaling USD 27.4 million), which represents NOK 1.25 per share on an annualized basis. The Company had no tax payments or refunds during the quarter.

    In early March, DNO announced the transformative acquisition of Sval Energi Group AS and DNO subsequently paid a deposit of USD 22.5 million to the seller. The transaction is expected to be completed mid-year 2025.

    Also in March, DNO completed the private placement of USD 600 million of new five-year senior unsecured bonds. The early redemption of another bond, DNO04 (originally maturing in 2026), was completed on 10 April and did not impact the Q1 2025 cash flow.

    North Sea exploration

    DNO participated in two discoveries on the Norwegian Continental Shelf in the quarter, with combined recoverable resources of 26 million barrels of oil equivalent net to DNO (mid-points of ranges). The Mistral well in PL1119 (10 percent interest) was spudded on 22 December and completed on 25 March, and the operated Kjøttkake well (including a sidetrack) in PL1182 S (40 percent interest) was spudded on 26 January and completed on 27 March. A third well, Horatio in PL1109 (20 percent interest), was spudded on 5 February, completed on 22 March, and was dry.

    Earnings call login details

    Please visit www.dno.no for login details ahead of the call.

    Disclaimer

    The information contained in this release is based on a preliminary assessment of the Company’s Q1 2025 operating and interim financial results and may be subject to change.

    –

    For further information, please contact:
    Media: media@dno.no
    Investors: investor.relations@dno.no

    –

    DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire, Netherlands and Yemen. More information is available at www.dno.no

    This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

    The MIL Network –

  • MIL-OSI: Coop Pank unaudited financial results for Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    By the end of the Q1 2025, Coop Pank had 213,000 customers, increased by 5,000 customers in the quarter (+2%) and by 23,000 in the year (+12%). The bank had 101,800 active customers, increased by 2,400 (+3%) in the quarter and by 17,400 (+21%) in the year.

    In Q1 2025, volume of deposits in Coop Pank decreased by 29 million euros (+2%), reaching total of 1.91 billion euros. Deposits from private clients increasing by 15 million euros: demand deposits increased by 9 million euros and term deposits increased by 6 million euros. Deposits from domestic business customers increased by 39 million euros: demand deposits increased by 36 million euro and term deposits increased by 3 million euros. Deposits from international deposit platform Raisin and other financing decreased by 24 million euros. Compared to Q1 2024, volume of Coop Pank’s deposits has increased by 221 million euros (+13%). In an annual comparison, share of demand deposits of total deposits has increased from 30% to 32%. In Q1 2025, the bank’s financing cost was 2.8%, at the same time last year the financing cost was 3.5%.

    In Q1 2025, net loan portfolio of Coop Pank increased by 44 million euros (+3%), reaching 1.81 billion euros. Business loans and home loans portfolio showed the biggest growth, both increased by 22 million euros (+3%). The volumes of leasing portfolio and consumer finance portfolio remained at the same level compared to the previous quarter. Compared to Q1 2024, total loan portfolio of Coop Pank has grown by 287 million euros (+19%).

    In Q1 2025, overdue loan portfolio of Coop Pank remained steady at the level 2.1%. A year ago, overdue loan portfolio was at the level of 2.4%.

    Impairment costs of financial assets in Q1 2025 were 0.2 million euros, which is 1.6 million euros (-88%) less than in previous quarter and 0.4 million euros (-61%) less than in Q1 2024.

    Net income of Coop Pank in Q1 2025 was 19.3 million euros, decreasing by 3% in a quarterly comparison and by 5% in an annual comparison. Operating expenses reached 9.5 million euros in Q1 – operating expenses decreased by 12% in the quarterly comparison and increased by 1% in the annual comparison.

    In Q1 2025, net profit of Coop Pank was 7.9 million euros, which is 24% more than in the previous quarter and 13% less than a year ago. In Q1 2025, cost to income ratio of the bank was 49% and return on equity was 14.7%.

    As of 31 March 2025, Coop Pank has 35,200 shareholders.

    Margus Rink, Chairman of the Management Board of Coop Pank, comments the results:

    “In recent quarters, we have seen positive signs in the economic environment – a slowdown in inflation, declining interest rates, and stable energy prices. Unfortunately, the past few months have also brought news of trade wars, which mainly affect the global economy, but they have also caused concern among local businesses. At the end of last year, we saw that, after a long wait, entrepreneurs had dusted off their investment plans and started to take action again, now, however, we can once again sense a decline in their confidence.

    Despite this, the declining interest rate environment offers good opportunities for investment and reduces financing costs for both legal entities and private individuals. For the bank, it means a drop in interest income, which can only be compensated by growing business volumes.

    In the first quarter, Coop Pank grew its business volumes at twice the rate of market growth – with solid increases in the number of clients, as well as in deposits and the loan portfolio. By the end of the quarter, Coop Pank held a 6.3% market share in deposits and a 6.6% share in loans.

    Growth in business volumes, the high quality of the loan portfolio, and effective cost control resulted in a strong net profit for Coop Pank in the first quarter: 7.9 million euros. The bank’s cost-to-income ratio for Q1 was 49% and return on equity was 14.7%.

    According to recent research by Kantar Emor on the Net Promoter Score (NPS) of Estonia’s largest service companies, Coop Pank is the most recommended bank in Estonia.

    In March, Coop Pank issued covered bonds for the first time on the Irish Stock Exchange, in the amount of 250 million euros with a maturity of four years. This was the initial tranche of a 750 million euros covered bond program. The bank’s first international covered bond issuance provides Coop Pank with an additional long-term and stable funding source, which will be used to support the growth of businesses operating in Estonia.”

    Income statement, in th. of euros Q1 2025 Q4 2024 Q1 2024
    Net interest income 17 930 19 149 19 082
    Net fee and commission income 1 155 1 303 1 014
    Net other income 225 -483 125
    Total net income 19 310 19 969 20 221
    Payroll expenses -5 578 -6 007 -5 409
    Marketing expenses -358 -788 -533
    Rental and office expenses, depr. of tangible assets -807 -798 -795
    IT expenses and depr. of intangible assets -1 613 -1 731 -1 405
    Other operating expenses -1 162 -1 473 -1 286
    Total operating expenses -9 519 -10 798 -9 427
    Net profit before impairment losses 9 791 9 171 10 794
    Impairment costs on financial assets -226 -1 821 -576
    Net profit before income tax 9 565 7 351 10 218
    Income tax expenses -1 652 -957 -1 080
    Net profit for the period 7 913 6 393 9 138
           
    Earnings per share, eur 0,08 0,06 0,09
    Diluted earnings per share, eur 0,08 0,06 0,09
    Statement of financial position, in th. of euros 31.03.2025 31.12.2024 31.03.2024
    Cash and cash equivalents 564 441 343 678 380 644
    Debt securities 49 536 37 751 36 460
    Loans to customers 1 818 109 1 774 118 1 531 038
    Other assets 34 711 33 066 31 320
    Total assets 2 466 796 2 188 614 1 979 461
    Customer deposits and loans received 1 914 526 1 886 145 1 693 254
    Debt securities issued 250 250 0 0
    Other liabilities 19 096 27 683 27 698
    Subordinated debt 63 363 63 148 63 239
    Total liabilities 2 247 235 1 976 977 1 784 191
    Equity 219 561 211 637 195 270
    Total liabilities and equity 2 466 796 2 188 614 1 979 461

    The reports of Coop Pank are available at: https://www.cooppank.ee/en/reporting

    Coop Pank will organise a webinar on 23 April 2025 at 9:00 AM, to present the financial results of Q1 2025. For participation, please register in advance at: https://bit.ly/CP-veebiseminar-osalemine-23042025

    The webinar will be recorded and published on the company’s website www.cooppank.ee and on the YouTube channel.

    Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 213,000 daily banking clients. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 320 stores.

    Additional information:
    Paavo Truu
    CFO
    Phone: +372 516 0231
    E-mail: paavo.truu@cooppank.ee

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    The MIL Network –

  • MIL-OSI: VERAXA Biotech and Voyager Acquisition Corp. Announce Business Combination Agreement to Create Nasdaq-Listed Biopharmaceutical Company Advancing a Pipeline of Next-Generation Cancer Therapies

    Source: GlobeNewswire (MIL-OSI)

    • VERAXA’s Novel BiTAC Platform has the Potential to Deliver Multiple Next-Generation Solid Tumor Cancer Therapies, Including Novel Antibody-Drug Conjugate (“ADC”) and Bispecific T-cell Engager (“TCE”) Candidates, with Strong and Differentiated Clinical Profiles
    • Company Pursuing Multiple Strategic Partnerships and Licensing Opportunities in 2025 and 2026
    • Transaction Values VERAXA at a Pre-money Equity Value of $1.3 Billion
    • Actively Working with Existing and New VERAXA Investors to Raise a Crossover Financing Round, which is Expected to Close Ahead of the Business Combination, Alongside up to $253 Million in Cash Held in Trust
    • Business Combination is Expected to be Completed in the Fourth Quarter of 2025
    • A Joint Investor Presentation Providing an Overview of the Proposed Transaction can be Viewed: https://dealroadshow.com/e/VER2025

    ZURICH, Switzerland, and BROOKLYN, New York, April 23, 2025 (GLOBE NEWSWIRE) — VERAXA Biotech AG (“VERAXA” or the “Company”), an emerging leader in designing novel cancer therapies, and Voyager Acquisition Corp., a Cayman Islands exempted company and special purpose acquisition company targeting the healthcare sector (NASDAQ: VACH, “Voyager” or the “SPAC”), announced today that they have entered into a definitive business combination agreement (the “Business Combination Agreement”). The proposed business combination (the “Business Combination”) would create a publicly traded, clinical-stage biopharmaceutical company focused on the development of a comprehensive pipeline of next-generation cancer therapies. Upon closing of the transaction, VERAXA Biotech AG is expected to list on NASDAQ under the proposed ticker symbol “VERX.”

    VERAXA Overview

    VERAXA is advancing a premier drug discovery and development engine for ADCs and other novel antibody-based therapy concepts. Through Bi-Targeted Antibody Cytotoxicity (“BiTAC”), a powerful and scalable proprietary technology platform that enables a highly specific dual-marker approach, the Company is accelerating a pipeline of next-generation cancer therapies that have the potential to expand the therapeutic window of current solid tumor standard of care treatments through improved safety and efficacy profiles.

    The Company has recently widened the scope of its AI-enabled technology platform and is now actively pursuing two major drug modalities:

    • Next-generation bispecific antibody drug conjugates, BiTAC ADCs and bsADCs, and
    • Bi-specific antibodies targeting key immune cells, also called T cell engagers, or TCEs.

    Both therapeutic modalities represent highly active and growing markets within the cancer therapy sector, respectively. The global TCE market is projected to reach $112 billion in 2030 with a CAGR of >44%. Similarly, the global ADC market size is projected to reach $57 billion by 2030 with a CAGR of close to 30%.

    “VERAXA is committed to developing and delivering the next wave of safe and highly efficacious cancer therapies. Our platform technologies can be applied to empower multiple therapeutic strategies spanning next-generation antibody-drug conjugates including our BiTAC ADCs and bi-specific BiTAC immune cell engagers,” stated Christoph Antz, Ph.D., CEO and Co-Founder of VERAXA. “Side effects too often limit today’s cancer therapies and prevent doctors from applying optimal dose levels. Our latest platform innovation, the BiTAC format, is designed to specifically address this issue and create first-in-class drug candidates with unprecedented safety and efficacy.”

    VERAXA’s pipeline currently comprises nine discovery and development programs at various stages in development, including an active Phase 1 program in leukemia. The Company’s most advanced clinical asset, VX-A901, is a highly differentiated Fc-enhanced therapeutic antibody targeting FLT3 and has shown potent anti-cancer activity. VX-A901 has backbone therapy potential addressing different patient groups across several treatment lines and settings with a complementary Mechanism of Action to currently available treatment options. Through a two-fold approach of pursuing both internal innovation and strategic partnerships, the Company anticipates having a robust pipeline by 2029, including three proprietary development programs in the clinic and a growing portfolio of licensed assets.

    VERAXA is led by an experienced team headed by Chief Executive Officer Christoph Antz, Ph.D and Chief Business Officer Heinz Schwer, Ph.D., MBA., both serial entrepreneurs and former venture capital investors. The leadership team is supported by international scientific advisors including Prof. Dr. Ralf C. Bargou, a renowned immuno-oncology expert whose scientific work has contributed to the successful development of the first FDA-approved bispecific cancer therapy with blinatumomab.

    VERAXA Biotech’s majority shareholders are Xlife Sciences AG (SIX: XLS), a Swiss-based publicly listed life science incubator fund, the European Molecular Biology Laboratory (“EMBL”), and its technology transfer arm EMBLEM.

    “Voyager’s mission is to identify innovative healthcare companies positioned for long-term success with strong business models and expansive total addressable markets. VERAXA exemplifies all these compelling characteristics, underscored by a steadfast commitment to bring transformative drug modalities to cancer patients through pursuing strategic global partnerships and advancing its proprietary pipeline,” stated Adeel Rouf, Chief Executive Officer and Director of Voyager Acquisition Corp. “We believe that the rapid change that ADCs and bispecific therapies have delivered and will continue to deliver to cancer therapy creates compelling opportunities for those with the vision to capitalize on them.”

    “The planned NASDAQ listing of VERAXA Biotech marks a pivotal milestone for both VERAXA and Xlife Sciences and exemplifies our mission of bringing groundbreaking science from the lab to life – and to the market,” stated Oliver Baumann, Acting Chairman of the VERAXA Board and CEO of Xlife Sciences. “The access to the U.S. capital markets provided by this combination will support the realization of Veraxa’s powerful technology platform and clinical assets, paving the way for potential significant value creation. We are proud to have supported VERAXA from its inception and, as one of the Company’s largest shareholders, we are confident that this transaction will significantly accelerate its ability to deliver first-in-class therapies to patients worldwide.”

    “We believe next-generation ADCs and bispecifics will continue to revolutionize oncology, due to their significant improvement over standard of care treatments and higher probability of technical and regulatory success compared to other oncology drugs, as evidenced by multiple deals in excess of $1 billion each since 2023 in this space,” stated Warren Hosseinion, M.D., Chairman of the Board of Voyager Acquisition Corp. “VERAXA’s robust pipeline of drug candidates was developed by leveraging its next-generation technology platform approach to drug discovery, development, and delivery, which we believe has the potential to dramatically cut development costs and time.”

    Transaction Overview

    Under the terms of the Business Combination Agreement, VERAXA’s equity value contribution into the Business Combination will amount to approximately $1.3 billion. Accordingly, VERAXA’s shareholders will receive approximately 130 million ordinary shares of the combined company in exchange for their existing VERAXA shares. Existing VERAXA shareholders and management will not receive any cash proceeds as part of the transaction and will roll over 100% of their equity into the combined company.

    Assuming a share price of $10.00 per share and no redemptions of Voyager’s shares by Voyager’s public shareholders, VERAXA (as a combined entity) is expected to have an implied pro forma equity value of approximately $1.64 billion at closing.

    Upon the closing of the Business Combination, VERAXA anticipates access to approximately up to $253 million in cash held in trust by Voyager, prior to the payment of transaction costs of VERAXA and Voyager, and assuming no redemptions by Voyager’s public shareholders.

    Additionally, VERAXA is actively raising a crossover financing round from existing and new investors, which the Company expects to close prior to the completion of the Business Combination. Net proceeds from this capital raise are expected to provide VERAXA with sufficient capital for the next two years, not including various potential partnering and co-development opportunities.

    The boards of directors of both Voyager and VERAXA have unanimously approved the Business Combination. Voyager and VERAXA expect the Business Combination to close in the fourth quarter of 2025. The transaction is subject to approval of Voyager’s and VERAXA’s shareholders and the satisfaction of certain other customary closing conditions.

    Additional information about the transaction will be provided in a Current Report on Form 8-K that will contain an investor presentation to be filed with the Securities and Exchange Commission (“SEC”) and will be available at www.sec.gov. In addition, VERAXA intends to file relevant materials with the SEC, including a registration statement on Form F-4 (the “Registration Statement”) to be filed with the SEC, which will include a proxy statement/prospectus of Voyager, and will file other documents regarding the Business Combination with the SEC. This communication Is not intended to be, and is not, a substitute for the proxy statement/prospectus or any other document that Voyager has filed or may file with the SEC in connection with the Business Combination.

    Advisors

    Anne Martina Group is acting as sole M&A advisor to VERAXA. Duane Morris LLP is acting as legal counsel to VERAXA. Winston & Strawn LLP is serving as legal counsel to Voyager.

    Transaction Presentation Details

    A presentation providing further details on the transaction can be found here: https://dealroadshow.com/e/VER2025

    About VERAXA Biotech

    At VERAXA Biotech, we are building a premier engine for the discovery and development of next-generation antibody-based therapeutics, including BiTAC antibody-drug conjugates (“BiTAC ADCs”), bispecific T cell engagers (“BiTAC TCEs”), and other innovative formats. Powered by a suite of transformative technologies and guided by rigorous quality-by-design principles, we are rapidly advancing our pipeline of ADCs and proprietary BiTAC formats into clinical development and beyond. VERAXA Biotech was founded on scientific breakthroughs made at the European Molecular Biology Laboratory (“EMBL”), a world-renowned institution known for pioneering life science research and cutting-edge technologies. For more information, please visit www.veraxa.com.

    About Voyager Acquisition Corp.

    Voyager Acquisition Corp. is a special purpose acquisition company with a bold mission: to revolutionize the healthcare sector through a merger, stock purchase, or business combination. Our team of experienced executives includes unparalleled expertise in investing, operations, and medical innovation, supported by a vast network of connections. With these strengths, we not only seek to drive success but commit to scaling companies to unprecedented heights in the healthcare industry. For more information, please visit https://www.voyageracq.com.

    About Xlife Sciences AG (SIX: XLS)

    Xlife Sciences is a Swiss company focused as incubator and accelerator on the value development and commercialization of promising research projects from universities and other research institutions in the life sciences sector, with the aim of providing solutions for high unmet medical needs and a better quality of life. The goal is to bridge research and development to healthcare markets. Xlife Sciences takes carefully selected projects in the four areas of technological platforms, biotechnology/ therapies, medical technology, and artificial intelligence/digital health to the next stage of development and participates in their subsequent performance. For more information, visit https://www.xlifesciences.ch/en/home

    Participants In the Solicitation

    Voyager, VERAXA, and their respective directors, executive officers, other members of management and employees may be deemed participants in the solicitation of proxies from Voyager’s stockholders with respect to the Business Combination. Investors and security holders may obtain more detailed information regarding the names and interests in the Business Combination of Voyager’s directors and officers in Voyager’s filings with the SEC, including, when filed with the SEC, the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus, amendments and supplements thereto, and other documents filed with the SEC. Such information with respect to VERAXA’s directors and executive officers will also be included in the proxy statement/prospectus. You may obtain free copies of these documents as described below under the heading “Additional Information and Where to Find It”.

    Non-Solicitation

    This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Voyager or VERAXA, nor shall there be any sale of any such 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 such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.

    Forward-Looking Statements

    This press release includes certain statements that may be considered forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include, without limitation, statements about future events or Voyager’s or VERAXA’s future financial or operating performance. For example, statements regarding VERAXA’s anticipated growth and the anticipated growth and other metrics, statements regarding the benefits of the Business Combination, and the anticipated timing of the completion of the Business Combination are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology.

    These forward-looking statements regarding future events and the future results of Voyager and VERAXA are based on current expectations, estimates, forecasts, and projections about the industry in which VERAXA operates, as well as the beliefs and assumptions of Voyager’s management and VERAXA’s management. These forward-looking statements are only predictions and are subject to, without limitation, (i) known and unknown risks, including the risks and uncertainties indicated from time to time in the final prospectus of Voyager relating to its initial public offering filed with the SEC, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by Voyager; (ii) uncertainties; (iii) assumptions; and (v) other factors beyond Voyager’s or VERAXA’s control that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. They are neither statements of historical fact nor promises or guarantees of future performance. Therefore, VERAXA’s actual results may differ materially and adversely from those expressed or implied in any forward-looking statements and Voyager and VERAXA therefore caution against relying on any of these forward-looking statements.

    These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Voyager and its management, VERAXA and its management, as the case may be, are inherently uncertain and are inherently subject to risks, variability and contingencies, many of which are beyond Voyager’s or VERAXA’s control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement and any subsequent definitive agreements with respect to the Business Combination; (ii) the outcome of any legal proceedings that may be instituted against Voyager, VERAXA, or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (iii) the inability to complete the Business Combination due to the failure to obtain consents and approvals of the shareholders of Voyager, to obtain financing to complete the Business Combination or to satisfy other conditions to closing, or delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals required to complete the transactions contemplated by the Business Combination Agreement; (iv) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (v) projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, and the estimated implied enterprise value of VERAXA; (vi) VERAXA’s ability to scale and grow its business, and the advantages and expected growth of VERAXA; (vii) VERAXA’s ability to source and retain talent, the cash position of VERAXA following closing of the Business Combination; (viii) the ability to meet stock exchange listing standards in connection with, and following, the consummation of the Business Combination; (ix) the risk that the Business Combination disrupts current plans and operations of VERAXA as a result of the announcement and consummation of the Business Combination; (x) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of VERAXA to grow and manage growth profitably, maintain key relationships and retain its management and key employees; (xi) costs related to the Business Combination; (xii) changes in applicable laws, regulations, political and economic developments; (xiii) the possibility that VERAXA may be adversely affected by other economic, business and/or competitive factors; (xiv) VERAXA’s estimates of expenses and profitability; (xv) the failure to realize estimated shareholder redemptions, purchase price and other adjustments; and (xvi) other risks and uncertainties set forth in the filings by Voyager with the SEC. There may be additional risks that neither Voyager nor VERAXA presently know or that Voyager and VERAXA currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Any forward-looking statements made by or on behalf of Voyager or VERAXA speak only as of the date they are made. None of Voyager or VERAXA undertakes any obligation to update any forward-looking statements to reflect any changes in their respective expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

    Additional Information and Where to Find It

    In connection with the Business Combination, Voyager and/or VERAXA intend to file relevant materials with the SEC, including the Registration Statement, which will include a proxy statement/prospectus of Voyager, and will file other documents regarding the proposed transaction with the SEC. This communication is not intended to be, and is not, a substitute for the proxy statement/prospectus or any other document that Voyager has filed or may file with the SEC in connection with the proposed transaction. When available, the definitive proxy statement and other relevant materials for the proposed transaction will be mailed or made available to stockholders of Voyager as of a record date to be established for voting on the proposed transaction.

    Before making any voting or investment decision, investors and stockholders of Voyager are urged to carefully read, when they become available, the entire registration statement, the proxy statement/prospectus, and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, and the documents incorporated by reference therein, because they will contain important information about Voyager, VERAXA, and the proposed transaction. Voyager’s investors and stockholders and other interested persons will also be able to obtain copies of the registration statement, the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus, other documents filed with the SEC that will be incorporated by reference therein, and all other relevant documents filed with the SEC by Voyager in connection with the Transaction, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to Voyager at the address set forth below.

    Contact

    The MIL Network –

  • MIL-OSI: Notes-App.AI Launches Smarter Notes AI Platform for Everyday Creativity

    Source: GlobeNewswire (MIL-OSI)

    New York, April 23, 2025 (GLOBE NEWSWIRE) — Today, Notes-App.AI officially launched its groundbreaking Notes AI platform, transforming the process of how humans take, manage, and interact with their individual ideas. A next-generation notes app, Notes-App.AI combines intelligent note-taking with dynamic AI character interactions, offering a richer, more interactive journaling experience than ever before.

    Smarter, Faster Note AI-Taking Anywhere

    Notes-App.AI is designed to streamline note-taking and incite inspiration. Users can quickly jot down ideas, store memories, or write plans from any device, so that no moment of creativity is wasted. Whether catching a surprise idea on a busy day or documenting detailed reflections at night, the mobile-friendly nature of the platform makes access seamless and intuitive organization easy. Notes can be arranged, hunted for, and retrieved easily, users staying with their ideas for days and distances.

    Simplification is baked into the heart of Notes-App.AI so distractions are taken out of the equation and users are left free to just write. No over-complicated menus, no useless junk—just an unadulterated, beautiful space to think and write.

    Interactive AI Characters Bring Notes to Life

    The most distinctive feature of Notes-App.AI is its compatibility with interactive AI friends. Users receive customized responses from a virtual group of friends upon sharing a note. The characters engage the content thoughtfully—offering advice, reflection, creative prompts, or even sarcasm.

    This aspect transforms ordinary journaling into a motivational two-way process, helping users dive deeper into self-expression, discover new perspectives, and feel a sense of greater belonging on their own writing journey.

    A New Standard for Notes Apps

    With its sleek design, immediate AI interaction, and device versatility, Notes-App.AI sets the bar higher in the category of notes apps. It’s not just a thought-catching tool–it’s a living breathing platform where every idea can evolve through conversation.

    As increasingly more people yearn for more richer, more imaginative ways to capture their life, Notes-App.AI offers the perfect balance of ease, intelligence, and inspiration.

    Start today at notes-app.ai and discover the future of note-taking.

    Media Contact:
    Contact Person: Yumi

    Email: support@notesai.com
    Website: https://notes-app.ai/
    Address: 238.7 George Parks Hwy Healy Alaska 99743

    Attachment

    The MIL Network –

  • MIL-OSI: Best No KYC Casinos: 7Bit Casino Ranked First for Fast Withdrawals, Easy Registration, and Top Bonuses!

    Source: GlobeNewswire (MIL-OSI)

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    7Bit Casino stands out in 2025 as one of the best anonymous online casinos for players looking for some serious value from their deposits. Whether you’re a new or a returning player, 7Bit offers a vivid lineup of bonuses and promotions that keep boosting your balance and enhance your winning chances.

    Welcome Bonus Pack

    • Up to 325% bonus + 5.25 BTC + 250 Free Spins
    • 1st Deposit: 100% up to 1.5 BTC + 100 FS
    • 2nd Deposit: 75% up to 1.25 BTC + 100 FS
    • 3rd Deposit: 50% up to 1.5 BTC
    • 4th Deposit: 100% up to 1 BTC + 50 FS

    Ongoing Promotions

    • Eggstra Offer: 70 free spins
    • Easter Crypto Offer: 75 free spins
    • Pre-Release Bonus: 35 Free Spins
    • New Game Offer: 55 Free Spins
    • Spring Elite Bonus: 100 Free Spins
    • Weekly Cashback: Up to 20% back
    • Monday Reload Bonus: 25% up to 5.5 mBTC + 50 FS
    • Wednesday Offer: Up to 100 Free Spins
    • Friday Offer: 111 Free Spins
    • Weekend Offer: 99 Free Spins

    Telegram-Exclusive Offers

    • Telegram Offer: 50 free spins
    • Telegram Friday Offer: 111 free spins
    • Telegram Sunday Offer: 66 free sins

    VIP Program & Casino Tournaments

    • Casino VIP Program for loyal players.
    • 10 Years of Platipus: €100,000 prize pool
    • Titan’s Arena: $8,000 in rewards
    • Lucky Spin: $1,500 + 1,500 Free Spins
    • Hoppy Wins: 10,000 Free Spins

    Is 7Bit Casino Legit or a Scam?

    If you’re asking whether 7Bit No KYC Casino is legit or a scam, you’re not alone. With so many online gambling sites out there, it’s smart to question which ones are trustworthy. Here’s a breakdown of what we found.

    License & Reputation

    7Bit, the anonymous online casino, operates under a Curacao eGaming license, which is widely used among online gambling sites. This provides a legal framework for 7Bit Casino to operate, ensuring player protection and transparency.

    Fairness

    7Bit Casino works with 100+ reputable software providers like NetEnt, Microgaming, Evolution, Ezugi, and BGaming. All the online casino games at 7Bit Casino operate under certified Random Number Generators (RNGs), ensuring that the outcomes are fair and unpredictable. The wide selection of provably fair games at 7Bit also adds an extra layer of transparency.

    Player Experience

    Most players experience hassle-free and smooth navigation, fast withdrawal speeds, and reliable support that is available 24/7. The no KYC online casino is built from the ground built for both desktop and mobile use, offering a seamless gaming experience.

    Payment Transparency

    7Bit supports a wide range of crypto and fiat payment methods. Deposits are instant, and withdrawals are processed at lightning speed for crypto users. Limits and fees are clearly outlined, and there are no hidden fees or ambiguous terms when cashing out.

    So, after analyzing 7Bit Casino in depth, we can confidently say that it is a legit, safe, and reliable online casino site for all types of players.

    Final Thoughts On 7Bit Casino: The Best Online Casino Site

    After reviewing everything 7Bit Casino has to offer, it’s clear why this platform ranks among the top no KYC online casinos in 2025. With a strong reputation, fast crypto payouts, and a generous mix of bonuses and promotions, it offers practicality and reliability. Whether you’re a casual player or a regular online gambler, the no KYC online casino site balances convenience with a wide game selection from trusted providers.

    Security and fairness also stand out. With a Curacao license, RNG-certified games, and provably fair options, 7Bit Casino emphasizes its stance on fairness and player trust. The payment transparency is another big plus, offering no KYC withdrawals, minimal fees, and instant access to your funds.

    If you’re looking for a reliable online casino to play slots with crypto, enjoy fast withdrawals, and take advantage of valuable bonuses, 7Bit Casino is worth checking out. Signing up takes seconds, and your first deposit unlocks an attractive welcome bonus that boosts your bankroll from the get-go. Try it for yourself and see why thousands of players keep coming back. Good luck, play responsibly, and may your spins bring big wins!

    FAQs

    1. What is a “No KYC” Casino?

    A “No KYC” casino is an online gambling platform that does not require players to go through Know Your Customer (KYC) verification processes. This means players can enjoy a seamless registration process and start playing without submitting personal identification documents. 7Bit Casino is one of the best no KYC online casinos, offering a secure and hassle-free experience for crypto users.

    2. Is 7Bit Casino the Best No KYC Online Casino?

    Yes, 7Bit Casino is widely regarded as one of the best no KYC casinos in 2025. It allows players to gamble with multiple cryptocurrencies like Bitcoin, Ethereum, and Litecoin without requiring KYC verification, making it a top choice for those who value privacy and quick crypto payouts.

    3. Can I Withdraw My Winnings Without KYC at 7Bit Casino?

    Yes, 7Bit Casino allows players to make withdrawals without KYC verification, provided they use cryptocurrencies. The process is fast, usually taking just 10 minutes, which makes it one of the best anonymous casinos for quick payouts.

    4. What Are the Advantages of Playing at a No Verification Casino?

    Playing at a no verification casino like 7Bit Casino offers several advantages, including quicker registration, faster payouts, and enhanced privacy. Players do not have to submit personal documents, ensuring their identity remains protected while still enjoying a seamless gaming experience.

    5. What Cryptocurrencies Does 7Bit Casino Support for No KYC Gambling?

    7Bit Casino supports a wide range of cryptocurrencies for no KYC gambling, including Bitcoin, Ethereum, Litecoin, Tether, Ripple, Dogecoin, and more. This makes it an excellent choice for players who prefer using digital currencies without the need for identity verification.

    6. How Fast Are Payouts at 7Bit Casino for Crypto Users?

    Crypto withdrawals at 7Bit Casino are incredibly fast, usually processed within 10 minutes. This is a key feature that sets 7Bit apart as one of the best no KYC online casinos, ensuring that players can access their winnings quickly.

    Email: support@7bitCasino.com

    Disclaimer: This press release is provided by the 7Bit Casino. 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.

    Legal Disclaimer
    This content is for informational purposes only. Ensure compliance with local gambling laws.

    Affiliate Disclosure
    Some links may be affiliate links, earning a commission at no cost to you. Recommendations are based on objective evaluation.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f988b3a3-b5d7-4bc5-85db-0e90134fd3b2

    The MIL Network –

  • MIL-OSI: Best Crypto Casinos 2025: JACKBIT | Rated Top Bitcoin Casino with NO KYC

    Source: GlobeNewswire (MIL-OSI)

    LARNACA, Cyprus, April 22, 2025 (GLOBE NEWSWIRE) — Crypto casino is booming in 2025, but not all platforms are equal. After reviewing dozens, JACKBIT Casino stands out for its top bonuses, newest games, fast sign-up, and no-KYC policy. In this guide, we cover its pros and cons, welcome offers, and what makes it a top crypto casino this year.

    >>CLAIM FREE SPINS & RAKEBACK BONUS at JACKBIT CASINO !<<

    Discover the Best Bitcoin Casino with Free Spins in 2025: JACKBIT Casino

    What makes JACKBIT stand out from the crowd? It’s more than just its sleek user interface or its massive library of 7,000+ casino games, or free spins. JACKBIT delivers a truly next-level crypto gambling experience—with

    instant deposits and withdrawals, zero KYC requirements, and a VIP system that pays back up to 30% in rakeback. As one of the leading bitcoin casinos, JACKBIT ensures user safety and a positive gambling experience, making it a top choice for responsible gamblers.

    Throw in $10,000 in weekly giveaways, 10,000 free spins every week, BTC 10 weekly cashback, and access to the most advanced crypto sportsbook on the market, and JACKBIT becomes more than just a casino—it’s a crypto-powered entertainment hub.

    CLICK HERE TO GET 30% RAKEBACK BONUS + 100 FREE SPINS + NO KYC

    Why We Chose JACKBIT as the Top Online Bitcoin Casino

    >Jackbit Bitcoin Casino Bonus (2025)

    JACKBIT is raising the bar in 2025 with one of the most rewarding crypto casino bonus lineups around:

    Welcome Bonus: 30% Rakeback + 100 Free Spins Wager Free + No KYC

    • 30% Rakeback on Losses
    • 100 Free Spins on First Deposit
    • No KYC Required to Play or Withdraw
    • $10,000 in Weekly Cash Giveaways
    • 10,000 Free Spins Given Away Weekly

    Whether you’re a casual player or a seasoned high roller, JACKBIT’s top bitcoin gambling sites promotions deliver real value. The rakeback system ensures you get up to 30% of your losses back, automatically credited to your account. It’s a rare feature that rewards consistent play and loyalty.

    Plus, the ongoing giveaways offer serious value, with thousands of dollars in cash and free spins distributed every single week. JACKBIT doesn’t just claim to be rewarding—it proves it, week after week.

    How to Join JACKBIT Bitcoin Casino: A Step-by-Step Guide

    Getting started with JACKBIT Casino is quick, easy, and completely hassle-free—even for players in the U.S. With no KYC requirements, you can dive into the action instantly, without uploading any personal documents. Follow these simple steps to join:

    Step 1: Visit the Official JACKBIT Bitcoin Casino

    Head straight to the JACKBIT crypto Casino sign-up page and click the “Sign Up” button in the top right corner to begin.

    Step 2: Set Up Your Account

    Fill out the short registration form with the following details:

    • Your email address
    • A strong password
    • Your country of residence
    • Preferred currency (crypto and fiat options available)

    Agree to the terms and conditions, then click “Create Account.”

    Step 3: Fund Your Account

    Once registered, go to the “Wallet” section to make your first deposit. JACKBIT supports a variety of payment methods like:

    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Tether (USDT)
    • And more payment methods

    Pro Tip: Don’t forget to claim your 30% Rakeback + 100 Free Spins welcome bonus with your first deposit!

    Step 4: Start Playing

    With your account funded, you’re ready to explore JACKBIT’s full range of games. Jump into:

    • Thousands of online slots
    • Live dealer tables
    • The industry-leading crypto sportsbook

    Whether you’re here to spin, bet, or win big—JACKBIT Bitcoin casino delivers from the very first click.

    Why Crypto Casinos

    Crypto casinos have revolutionized the online gaming industry by offering a unique and exciting way to play casino games using cryptocurrencies like Bitcoin, Ethereum, and Litecoin. These casinos provide a secure, transparent, and fair gaming experience, making them a popular choice among players. With the rise of crypto casinos, players can now enjoy a wide range of games, including slots, table games, live dealer games, and more, all from the comfort of their own homes.

    One of the key advantages of crypto casinos is the enhanced security they offer. Transactions made with cryptocurrencies are encrypted and decentralized, reducing the risk of fraud and ensuring that players’ funds are safe. Additionally, the use of blockchain technology allows for provably fair gaming, where players can verify the fairness of each game outcome.

    Crypto casinos also offer a level of anonymity that traditional online casinos cannot match. Players can register and play without providing personal information, thanks to the no KYC (Know Your Customer) requirements. This makes the gaming experience more private and secure.

    In summary, crypto casinos combine the thrill of online gaming with the benefits of cryptocurrency, providing a modern and innovative way to enjoy casino games. Whether you’re a fan of slots, table games, or live dealer games, crypto casinos offer a diverse and exciting gaming experience.

    Getting Started with Crypto Casinos

    Getting started with crypto casinos is easy and straightforward. To begin, players need to choose a reputable and trustworthy crypto casino that offers a wide range of games and accepts their preferred cryptocurrency. Once they have selected a casino, they can create an account and make a deposit using their cryptocurrency wallet.

    Many crypto casinos offer generous welcome bonuses, free spins, and other promotions to new players, making it an excellent way to start their gaming journey. These bonuses can significantly boost your initial bankroll, giving you more opportunities to explore the casino’s game offerings.

    Here’s a step-by-step guide to getting started with crypto casinos:

    1. Choose a Reputable Crypto Casino: Look for a casino with a good reputation, a wide range of games, and positive player reviews. Ensure that the casino supports your preferred cryptocurrency.
    2. Create an Account: Register by providing basic information such as your email address and creating a strong password. Some casinos may also ask for your country of residence and preferred currency.
    3. Make a Deposit: Go to the casino’s wallet section and make a deposit using your cryptocurrency wallet. Most crypto casinos support a variety of cryptocurrencies, including Bitcoin, Ethereum, and Tether.
    4. Claim Your Welcome Bonus: Don’t forget to claim your welcome bonus, which may include free spins and deposit bonuses. These bonuses can give you a great start and increase your chances of winning.
    5. Start Playing: With your account funded and your bonus claimed, you’re ready to start playing. Explore the casino’s game library, which may include slots, table games, live dealer games, and more.

    By following these steps, you can easily get started with crypto casinos and enjoy a thrilling and rewarding gaming experience.

    Best Ways to Play at JACKBIT Bitcoin Casino

    Whether you’re a crypto-savvy high roller or a casual gamer looking for quick fun, JACKBIT bitcoin casino offers countless ways to play. A key promotional feature is the reload bonus, which encourages both new and returning players to keep engaging with the platform. Here’s how to maximize your gaming experience:

    JACKBIT provides various promotional offers, including a generous deposit bonus that matches a percentage of your initial deposit. This significantly increases your available gaming funds and enhances your overall engagement with the platform.

    1. Explore the 7,000+ casino games

    JACKBIT hosts one of the largest game collections online, offering a wide variety of crypto gambling games—including:

    • Top-tier slots from providers like Pragmatic Play, Nolimit City, and Hacksaw Gaming
    • Live casino tables with real dealers for blackjack, roulette, baccarat, and game shows
    • Bitcoin blackjack for enhanced player experience with faster transactions, lower fees, and added privacy
    • Crypto crash and instant games like Aviator and Plinko for fast-paced action

    Pro Tip: Use the search bar or filters to discover hidden gems and new releases.

    Playing games on JACKBIT allows users to engage with various types of online casino platforms, making it easy to enjoy activities like bingo and traditional slot games using cryptocurrencies.

    2. Take Advantage of Rakeback, Bonuses & Free Spins

    One of the most significant advantages of playing at crypto casinos is the opportunity to take advantage of rakeback, bonuses, and free spins. Rakeback is a reward program that gives players a percentage of their losses back, while bonuses and free spins provide players with extra funds to play with.

    Many crypto casinos offer generous welcome bonuses, reload bonuses, and other promotions to keep players engaged and entertained. For example, a welcome bonus might include a percentage match on your first deposit, along with free spins on popular slot games. Reload bonuses, on the other hand, offer additional funds on subsequent deposits, ensuring that players always have something to look forward to. Additionally, joining a VIP club can provide exclusive benefits such as unique bonuses, cashback deals, and personalized rewards for high-stakes players, elevating the gaming experience.

    Free spins are another popular promotion, giving players the chance to spin the reels of selected slot games without using their own funds. These spins can lead to significant winnings, making them a favorite among players.

    To make the most of these bonuses and promotions, it’s essential to read the terms and conditions carefully. Pay attention to wagering requirements, which dictate how many times you need to play through the bonus before you can withdraw any winnings. By understanding these requirements, you can maximize your gaming experience and increase your chances of winning.

    JACKBIT’s bonus system is built for longevity. Maximize your returns with:

    • Up to 30% rakeback on your gameplay losses
    • 100 free spins on your first deposit
    • $10,000 weekly giveaways
    • 10,000 free spins given away weekly

    These free spin offers are part of promotional incentives designed to enhance your gaming experience. It is important to understand the wagering requirement attached to these bonuses to fully benefit from them.

    DON’T JUST PLAY—GET REWARDED WHILE YOU PLAY

    3. Play Anytime, Anywhere

    JACKBIT is fully optimized for mobile gaming. Whether you’re using a phone or tablet, you’ll get:

    • Lightning-fast loading speeds
    • Smooth navigation
    • Full access to games, promotions, and payments

    Perfect for crypto betting on the go. Top Bitcoin gambling sites are also adapting to mobile trends, ensuring functionality and user-friendliness across devices.

    4. Dive Into the Crypto Sportsbook

    Bet on 140+ sports and thousands of live events every month with JACKBIT’s top-tier sportsbook, one of the leading betting sites offering a range of features for users. Highlights include:

    • 82,000+ live events monthly
    • 4,500+ betting types
    • 75,000+ pre-match events

    Great for sports bettors who want fast, crypto-friendly bets and a variety of betting options.

    5. Stay Anonymous, Stay in Control

    Thanks to no KYC requirements, JACKBIT bitcoin casino lets you play anonymously. Enjoy:

    • Instant registration
    • Fast deposits & instant withdrawals
    • Total control over your data

    Perfect for privacy-first players.

    Why JACKBIT Stands Out as the Best Crypto Casino with Minimum Deposits and Withdrawals

    JACKBIT has earned its reputation as the best crypto casino due to its extensive range of casino games, including live casino games, video poker games, and classic table games. Among bitcoin gambling platforms, JACKBIT bitcoin casino site stands out for offering an authentic casino experience with competitive odds, ensuring that players have the best chance to win big. The Bitcoin casino offers a user-friendly interface and seamless navigation, making it easy for players to access their favorite games and enjoy a thrilling gaming experience.

    The Bitcoin casino’s commitment to innovation is evident in its incorporation of cutting-edge technology, providing players with a visually stunning and immersive gaming environment. Many Bitcoin casinos, including JACKBIT, offer regular promotions and bonuses, such as free spins and deposit bonuses, to keep the excitement alive and reward loyal players.

    JACKBIT Bitcoin Casino Pros & Cons

    Pros:

    • 30% Rakeback on All Bets (welcome bonus)
    • 100 Free Spins on First Deposit
    • $10,000 + 10,000 Free Spins Weekly
    • Best Crypto Sportsbook in 2025
    • 7,000+ Casino Games
    • No KYC Policy
    • Fast Crypto Withdrawals
    • Top VIP Program

    Cons:

    • Not available in some restricted countries (use a VPN for access)

    Accepted Payment Methods at Jackbit online casino

    Cryptocurrencies

    Jackbit online casino supports a wide array of cryptocurrencies for both deposits and withdrawals, including:​

    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Tether (USDT)
    • Binance Coin (BNB)
    • USD Coin (USDC)
    • Tron (TRX)
    • Dogecoin (DOGE)
    • Litecoin (LTC)
    • Ripple (XRP)
    • Bitcoin Cash (BCH)
    • Monero (XMR)
    • Dash (DASH)
    • Solana (SOL)
    • Cardano (ADA)
    • Polygon (MATIC)
    • Shiba Inu (SHIB)
    • Chainlink (LINK)
    • Dai (DAI)
    • BUSD​

    These cryptocurrencies can be used for both deposits and withdrawals, providing flexibility for crypto enthusiasts. ​

    Traditional Payment Methods

    While Jackbit is primarily a crypto-focused platform, it also accepts Visa and Mastercard for deposits. However, withdrawals are typically processed through cryptocurrencies. ​

    Transaction Details

    • Deposit Processing Time: Instant for both crypto and card deposits.
    • Withdrawal Processing Time: Typically within 1 hour; however, in some cases, it may take up to one business day.
    • Minimum Deposit: Varies by cryptocurrency; for example, the minimum deposit is approximately $50.
    • Minimum Withdrawal: Depends on the selected cryptocurrency.
    • Withdrawal Limits: Up to €25,000 per week and €50,000 per month.
    • Fees: Jackbit does not charge fees for crypto deposits. ​

    ️ Verification Requirements

    Jackbit operates with a non-mandatory KYC policy, allowing players to deposit and play without immediate identity verification. However, for large withdrawals or if suspicious activity is detected, the casino may request verification documents. ​

    Currency Exchange

    For players preferring fiat currencies, Jackbit offers the option to purchase cryptocurrencies directly through the platform using Visa or Mastercard, facilitating easy conversion from EUR, USD, or CAD to your chosen crypto. ​

    Jackbit crypto Casino’s diverse payment options, swift transaction times, and user-friendly policies make it a convenient choice for both crypto enthusiasts and traditional players.

    Best Games at JACKBIT crypto Casino

    JACKBIT crypto Casino boasts a world-class collection of over 7,000 games—from high-volatility slots to immersive live dealer tables and crypto-exclusive titles. Whether you’re chasing big wins or just spinning for fun, here are the best games to try at JACKBIT:

    Top Online Slots

    If you’re into spinning reels, JACKBIT crypto casino delivers premium slots with stunning graphics, thrilling bonus features, and enticing progressive jackpots. Some of the fan favorites include:

    • Sweet Bonanza (Pragmatic Play) – Candy-themed chaos with tumbling wins and free spins.
    • Wanted Dead or a Wild (Hacksaw Gaming) – A wild-west, high-volatility slot with massive win potential.
    • Gates of Olympus (Pragmatic Play) – Multipliers rain from the gods in this legendary hit.
    • Book of Dead (Play’n GO) – A classic Egyptian-themed slot with big RTP and bonus rounds + 100 free spins available.
    • The Dog House Megaways (Pragmatic Play) – Cute pups, sticky wilds, and explosive payouts.
    • Jammin’ Jars (Push Gaming) – Funky fruit, cluster wins, and exciting bonus features.

    Pro Tip: Look for “Bonus Buy” slots to fast-track your way into free spins and features.

    Best Live Casino Games

    Powered by Evolution, Pragmatic Live, and other top providers, JACKBIT’s live casino gives you the real-deal Vegas vibe—without ever leaving your screen.

    • Lightning Roulette – A thrilling twist on classic roulette with huge multipliers.
    • Blackjack VIP – For high rollers who want fast-paced action and high limits.
    • Crazy Time & Monopoly Live – Game-show-style live games with massive multipliers and interactive fun.
    • Baccarat Squeeze – For fans of high-stakes drama and slow-reveal tension.

    All live dealer games are crypto-friendly and fully mobile-optimized.

    Crash & Instant Games

    For players who like fast-paced, high-risk thrills, JACKBIT offers instant and crash games that pay out in seconds:

    • Aviator – Watch the plane soar—cash out before it crashes!
    • Plinko – Drop the ball and hope for a big multiplier.
    • Dice & Mines – Simple yet addictive games with customizable risk.

    These games are perfect for crypto players looking to flip coins fast.

    Crypto Sportsbook Games

    If sports betting is your game, JACKBIT’s sportsbook is one of the most complete on the crypto scene:

    • 82,000+ live monthly events
    • 4,500+ bet types across 140+ sports
    • Esports, live stats, and instant crypto payouts

    Great for betting on everything from Premier League to CS:GO.

    Crypto Casino Software Providers

    Crypto casino software providers play a crucial role in the online gaming industry by developing and supplying games to crypto casinos. Some of the top crypto casino software providers include Pragmatic Play, Evolution Gaming, and Hacksaw Gaming. These providers offer a wide range of games, including slots, table games, and live dealer games, all of which are designed to provide a fair and exciting gaming experience.

    Pragmatic Play is known for its high-quality slots and innovative game features. Their games often come with stunning graphics, engaging themes, and exciting bonus rounds. Popular titles from Pragmatic Play include “Sweet Bonanza” and “The Dog House Megaways.”

    Evolution Gaming is a leader in live dealer games, offering an authentic casino experience with real dealers and high-definition streaming. Their games include classics like blackjack, roulette, and baccarat, as well as unique game-show-style titles like “Crazy Time” and “Monopoly Live.”

    Hacksaw Gaming is another top provider, known for its creative and high-volatility slots. Games like “Wanted Dead or a Wild” offer thrilling gameplay and the potential for massive wins.

    These software providers ensure that crypto casinos offer a diverse and exciting gaming experience, with something for every type of player. Whether you prefer spinning the reels of a slot game or enjoying the thrill of live dealer games, these providers have you covered.

    A Leader in Bitcoin Gambling sites with Live Dealer Games, free spins & Customer Support

    As a leading crypto casino, JACKBIT stands out among BTC gambling sites by providing a seamless experience for both deposits and withdrawals as well as free spins. With instant deposits and withdrawals, players can enjoy their winnings without delay.

    The Bitcoin gambling sites also offer a generous welcome bonus, live casino games, and BTC 30% weekly cashback, making it an attractive choice for both new and seasoned players. JACKBIT crypto casino supports a wide variety of cryptocurrencies, including BTC and ETH, ensuring that players can easily manage their funds using their preferred digital currency rather than other bitcoin gambling sites.

    JACKBIT’s commitment to security is unwavering, with advanced encryption technology and robust security measures in place to protect players’ personal and financial information.

    Additionally, JACKBIT is KYC VPN friendly, allowing players to maintain anonymity and privacy while enjoying a seamless gaming experience without restrictions. The crypto gambling site’s dedication to providing a safe and secure gaming environment has earned it a loyal following among crypto enthusiasts.

    A Trusted Name in Bitcoin Online Gambling Sites with Multiple Trending Casino Games

    When it comes to choosing a trusted crypto gambling site, there are many options to consider. However, not all sites are created equal, and some stand out from the rest due to their reputation, game selection, and player experience.

    Trusted Bitcoin casino sites offer a wide range of games, from slots and table games to live dealer games and sports betting. These sites are known for their fair play, secure transactions, and excellent customer support.

    For example, a top Bitcoin gambling site might offer thousands of slot games with instant deposits and withdrawals from leading providers like Pragmatic Play and Evolution Gaming. These games come with exciting themes, high-quality graphics, and the potential for big wins. Table games like blackjack, roulette, and baccarat are also popular, providing a classic casino experience.

    Live dealer games bring the excitement of a real casino to your screen, with professional dealers and interactive gameplay. Sports betting is another popular option, allowing players to bet on their favorite sports and events with competitive odds.

    In summary, trusted Bitcoin gambling sites offer a comprehensive and enjoyable gaming experience, with a wide range of games and features to suit every player. Whether you’re a fan of slots, table games, live dealer games, or sports betting, these sites provide a secure and exciting way to enjoy online gambling.

    A Trusted Name in Sports betting & Bitcoin casino with trending casino games & with a Bitcoin Casino bonus including instant deposits and withdrawals

    JACKBIT crypto casino has become synonymous with trust and reliability in the online gambling space. As one of the many Bitcoin gambling sites, it offers a cryptocurrency-based gambling experience with extensive game libraries, enticing promotions, and user-friendly features. Bitcoin casino sites like JACKBIT provide advantages such as instant withdrawals, a diverse array of gaming options, and generous bonuses, all specifically tailored for players using cryptocurrencies. The Bitcoin casino is known for its provably fair games, ensuring fair play for all users. Additionally, JACKBIT’s customer support is top-notch, providing assistance whenever needed. The casino’s support team is available 24/7, ready to assist players with any questions or concerns they may have.

    JACKBIT’s crypto casino transparency and commitment to fair play have made it a favorite among players seeking a reputable and trustworthy online casino. The Bitcoin casino offers an extensive library of crypto casino games, including popular titles from leading providers, and ensures that players always have access to the latest and greatest in online gaming.

    A Diverse Online Casino Game

    From sports betting to bitcoin slots, JACKBIT crypto casino caters to all types of players. The Bitcoin casino features a wide array of games from top providers like Pragmatic Play and Evolution Gaming. Whether you’re a fan of jackpot slots, enjoy the simplicity of dice games, or prefer the thrill of live dealer games, JACKBIT has something for all casino enthusiasts. The casino’s diverse selection of games, including exciting jackpot games, ensures that players never run out of options, with new titles added regularly to keep the gaming experience fresh and exciting.

    JACKBIT’s sports betting platform offers competitive odds and a wide range of betting options, allowing sports enthusiasts to place bets on their favorite teams and events. Additionally, platforms like Mega Dice feature an extensive range of over 4,000 casino games and a robust sportsbook, making it an appealing choice for both casino enthusiasts and sports bettors.

    The crypto casino’s live dealer games provide an authentic casino experience, with real dealers and interactive gameplay that brings the excitement of a brick-and-mortar casino to the comfort of your home.

    Promotions and Deposit Bonuses of Best Crypto Casino Online

    Best crypto casinos are known for their enticing promotions and bonuses, designed to attract new players and keep existing ones engaged. These can range from generous welcome bonuses to exciting free spins and loyalty programs. For instance, some crypto casinos offer a welcome bonus of up to 1 BTC, along with 50 free spins on popular slot games. This gives new players a substantial boost to start their gaming journey.

    In addition to the welcome bonuses, players can also benefit from deposit bonuses, which can match a percentage of their deposits, sometimes up to 100%. Reload bonuses are another popular promotion, offering players additional funds on subsequent deposits. Weekly free spins, free bets, and other ongoing promotions keep the excitement alive, providing players with more opportunities to win big. These bonuses not only enhance the gaming experience but also increase the chances of hitting those coveted jackpots.

    Security, Safety & Customer Support

    Security and safety are paramount in the world of crypto casinos. These platforms employ advanced encryption technology to safeguard player data and ensure that all transactions are secure. This means that your personal and financial information is protected at all times. Additionally, crypto casinos use provably fair algorithms to guarantee that games are fair and random, providing a level playing field for all players.

    Many crypto & Bitcoin gambling sites are licensed and regulated by reputable authorities, such as the Curacao Gaming Authority. This ensures that they operate in a fair and transparent manner, adhering to strict standards of conduct. Players can also enhance their security by using VPNs, adding an extra layer of protection to their gaming experience. With these measures in place, players can enjoy their favorite games with confidence, knowing that their safety is a top priority.

    Mobile Gaming

    Mobile gaming has become a cornerstone of the crypto casino experience, allowing players to access their favorite games from anywhere, at any time. Many best crypto casinos have developed mobile-friendly websites and apps that are optimized for use on smartphones and tablets. This means you can enjoy seamless gameplay, whether you’re at home or on the go.

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    Final Words on Best Bitcoin Gambling Sites No KYC VPN Friendly

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    FAQ about Best Crypto gambling Sites with NO KYC, VPN Friendly

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    Types of Crypto Casino Games

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    Bitcoin Online Gambling

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    Comparison of Gambling Sites

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    Email: support@jackbit.com

    Legal Disclaimer
    This content is for informational purposes only and not legal, financial, or gambling advice. Ensure compliance with local gambling laws. No warranties are made regarding accuracy. Readers are responsible for verifying information and ensuring legal compliance. Gambling may be restricted in some regions.

    Affiliate Disclosure
    Some links may be affiliate links, earning a commission at no cost to you. Recommendations are based on objective evaluation, and partnerships do not influence conclusions.

    Disclaimer: This press release is provided by the Jackbit. 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.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ae192d0f-d29a-4a8e-a8d3-d5a7732306a7

    The MIL Network –

  • MIL-OSI: HR Ratings Expands U.S. Operations with Strategic Growth Plan and Senior Leadership Appointment

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, April 22, 2025 (GLOBE NEWSWIRE) — HR Ratings, leading credit rating agency with nearly two decades of experience and more than 14,000 ratings issued worldwide, announces the expansion of its U.S. operations, reinforcing its long-term commitment to the U.S. market. As part of this effort, HR Ratings welcomes Gregory Root as Business Development Executive Director, adding depth to its leadership team and accelerating its growth in key sectors.

    Gregory Root has nearly 40 years of experience in credit ratings, investment banking, and capital markets. He has held senior leadership roles at Kroll Bond Ratings, DBRS, and Keefe, Bruyette & Woods. As President of Thomson BankWatch, he led the agency’s growth into the world’s largest bank rating firm at the time, overseeing teams across 60 countries.

    “Greg brings a deep understanding of the U.S. market and will play a critical role in supporting HR Ratings´ growth and establishment in this market.” said Veronica Cordero, Head of Business Development of HR Ratings.

    HR Ratings is registered as a Nationally Recognized Statistical Rating Organization (NRSRO) by the U.S. Securities and Exchange Commission (SEC) for corporates, public finance, and financial institutions, certified by the European Securities and Markets Authority (ESMA), and the UK’s Financial Conduct Authority (FCA). HR Ratings is also approved by the National Association of Insurance Commissioners (NAIC) as credit rating providers (CRP). In addition, the rating agency is certified by the Climate Bonds Initiative (CBI) as approved verifiers for green bonds.

    With a local team based in Coral Gables, Florida, HR Ratings offers a full range of credit evaluation services. The agency has already issued over 2,300 credit ratings historically in the U.S. and evaluated more than 300 U.S.-based entities, serving a market that increasingly seeks agile, transparent, and rigorous credit analysis.

    “This marks an important step forward as we scale our presence in the U.S.,” said Alberto Ramos, Chairman of the Board of HR Ratings. “Our model is built on transparency, accessibility, highest quality service, and analytical rigor—qualities that matter to U.S. issuers and investors looking for real alternatives in a concentrated ratings market.”

    About HR Ratings

    HR Ratings, LLC (HR Ratings), is a Credit Rating Agency registered by the Securities and Exchange Commission (SEC) as a Nationally Recognized Statistical Rating Organization (NRSRO) for the assets of public finance, corporates and financial institutions as described in section 3 (a) (62) (A) and (B) subsection (i), (iii) and (v) of the US Securities Exchange Act of 1934.

    The following information can be found on our website at www.hrratings.com: (i) The internal procedures for the monitoring and surveillance of our ratings and the periodicity with which they are formally updated, (ii) the criteria used by HR Ratings for the withdrawal or suspension of the maintenance of a rating, (iii) the procedure and process of voting on our Analysis Committee, and (iv) the rating scales and their definitions.

    The ratings and/or opinions of HR Ratings are opinions regarding the credit quality and/or the asset management capacity, or relative to the performance of the tasks aimed at the fulfillment of the corporate purpose, by issuing companies and other entities or sectors, and are based on exclusively in the characteristics of the entity, issue and/or operation, regardless of any business activity between HR Ratings and the entity or issuer. The ratings and/or opinions granted are issued on behalf of HR Ratings and not of its management or technical personnel and do not constitute recommendations to buy, sell or maintain any instrument, or to carry out any type of business, investment or operation, and may be subject to updates at any time, in accordance with the rating methodologies of HR Ratings.

    HR Ratings bases its ratings and/or opinions on information obtained from sources that are believed to be accurate and reliable. HR Ratings, however, does not validate, guarantee or certify the accuracy, correctness or completeness of any information and is not responsible for any errors or omissions or for results obtained from the use of such information. Most issuers of debt securities rated by HR Ratings have paid a fee for the credit rating based on the amount and type of debt issued. The degree of creditworthiness of an issue or issuer, opinions regarding asset manager quality or ratings related to an entity’s performance of its business purpose are subject to change, which can produce a rating upgrade or downgrade, without implying any responsibility for HR Ratings. The ratings issued by HR Ratings are assigned in an ethical manner, in accordance with healthy market practices and in compliance with applicable regulations found on the www.hrratings.com rating agency webpage. HR Ratings’ Code of Conduct, rating methodologies, rating criteria and current ratings can also be found on the website.

    Ratings and/or opinions assigned by HR Ratings are based on an analysis of the creditworthiness of an entity, issue or issuer, and do not necessarily imply a statistical likelihood of default, HR Ratings defines as the inability or unwillingness to satisfy the contractually stipulated payment terms of an obligation, such that creditors and/or bondholders are forced to take action in order to recover their investment or to restructure the debt due to a situation of stress faced by the debtor. Without disregard to the afore mentioned point, in order to validate our ratings, our methodologies consider stress scenarios as a complement to the analysis derived from a base case scenario. The fees HR Ratings receives from issuers generally range from US$1,000 to $1,000,000 (one million dollars, legal tender in the United States of America) (or the equivalent in another currency) per offering. In some cases, HR Ratings will rate all or some of a particular issuer’s offerings for an annual fee. Annual fees are estimated to vary between $5,000 and US$2,000,000 (five thousand to two million dollars, legal tender in the United States of America) (or the equivalent in another currency).

    The MIL Network –

  • MIL-OSI: Pulse Seismic Inc. Reports Strong Q1 2025 Financial Results and Increases Regular Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, April 22, 2025 (GLOBE NEWSWIRE) — Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or the “Company”) is pleased to report its financial and operating results for the three months ended March 31, 2025. The unaudited condensed consolidated interim financial statements, accompanying notes and MD&A are being filed on SEDAR+ (www.sedarplus.ca) and will be available on Pulse’s website at www.pulseseismic.com.

    Today, Pulse’s Board of Directors approved a 17% increase to the regular quarterly dividend, declaring a dividend of $0.0175 per share. This results in an increase to the annual regular dividend from $0.06 per share to $0.07 per share. The total dividend declared will be approximately $889,000 based on Pulse’s 50,794,563 common shares outstanding as of April 22, 2025, to be paid on May 20, 2025, to shareholders of record on May 12, 2025. This dividend is designated as an eligible dividend for Canadian income tax purposes. For non-resident shareholders, Pulse’s dividends are subject to Canadian withholding tax.

    “I am very pleased to report today’s decision by Pulse’s Board of Directors to approve the third annual increase to the Company’s regular dividend since 2023. Having licensed $22.8 million of seismic data for the quarter, our balance sheet has been further strengthened, ending the period with $14.3 million of cash and $14.2 of working capital,” stated Neal Coleman, Pulse’s President and CEO. “As a business with significant fluctuations in annual revenue, having a low-cost structure like ours lends itself to significant increases in EBITDA margins and shareholder free cash flow generation in higher revenue years. Compared to last year, we have already generated 97% of annual revenue,” he continued. “We remain focused on returning capital to shareholders as evidenced by the 17% increase to the regular quarterly dividend, on top of the special dividend of $0.20 per share that was declared in February,” concluded Coleman.

    HIGHLIGHTS FOR THE THREE MONTHS ENDED MARCH 31, 2025

    • A regular dividend of $0.015 per share and a special dividend of $0.20 per share were declared and paid in the first quarter of 2025, totalling $10.9 million.
    • The Company renewed its Normal Course Issuer Bid (NCIB) on February 24, 2025. During the three months ended March 31, 2025, the Company purchased and cancelled 43,300 shares under the NCIB at an average price of $2.43 per share, for total cost of approximately $106,000;
    • Total revenue for the three months ended March 31, 2025, was $22.8 million, compared to $8.8 million for the same period in 2024. Revenue generated in the first quarter of 2025 represents approximately 97% of the total recorded for the full year ended December 31, 2024;
    • Shareholder free cash flow(a) was $15.4 million ($0.30 per share basic and diluted) compared to $5.0 million ($0.10 per share basic and diluted) for the three months ended March 31, 2024; 
    • EBITDA(a) was $20.0 million ($0.39 per share basic and diluted) compared to $6.2 million ($0.12 per share basic and diluted) for the three months ended March 31, 2024; 
    • Net earnings were $13.4 million ($0.26 per share basic and diluted) compared to net earnings of $2.7 million ($0.05 per share basic and diluted) for the three months ended March 31, 2024; and 
    • At March 31, 2025, the Company had a cash balance of $14.3 million as well as $5.0 million of available liquidity on its revolving demand credit facility.
    SELECTED FINANCIAL AND
    OPERATING INFORMATION    		        
             
             
    (Thousands of dollars except per share data,   Three months ended March 31, Year ended,
    numbers of shares and kilometres of seismic data)   2025 2024 December 31,
        (Unaudited) 2024
    Revenue   22,759 8,777 23,379
             
    Amortization of seismic data library   2,225 2,270 9,090
    Net earnings   13,375 2,681 3,391
    Per share basic and diluted   0.26 0.05 0.07
    Cash provided by operating activities   16,615 10,464 14,195
    Per share basic and diluted   0.33 0.20 0.28
    EBITDA (a)   20,048 6,229 15,496
    Per share basic and diluted (a)   0.39 0.12 0.30
    Shareholder free cash flow (a)   15,419 5,038 12,408
    Per share basic and diluted (a)   0.30 0.10 0.24
             
    Capital expenditures        
    Seismic data   – 225 225
    Property and equipment   – – 45
    Total capital expenditures   – 225 270
             
    Dividends        
    Regular dividends declared   763 715 3,018
    Special dividends declared   10,167 – 2,548
    Total dividends declared   10,930 715 5,566
             
    Normal course issuer bid        
    Number of shares purchased and cancelled   43,300 627,300 1,784,000
    Cost of shares purchased and cancelled   106 1,185 3,880
             
    Weighted average shares outstanding        
    Basic and diluted   50,829,404 52,122,006 51,448,985
    Shares outstanding at period-end   50,794,563 51,994,563 50,837,863
             
    Seismic library        
    2D in kilometres   829,207 829,207 829,207
    3D in square kilometres   65,310 65,310 65,310
             
    FINANCIAL POSITION
    AND RATIO    		        
        March 31, March 31, December 31,
    (Thousands of dollars except ratio)   2025 2024 2024
    Working capital   14,201 10,579 9,222
    Working capital ratio   3.7:1 3.8:1 5.1:1
    Cash and cash equivalents   14,305 13,765 8,722
    Total assets   27,412 31,122 21,516
    Trailing 12 -month (TTM) EBITDA(b)   29,315 30,045 15,496
    Shareholders’ equity   20,533 26,543 18,295
             

    (a)The Company’s continuous disclosure documents provide discussion and analysis of “EBITDA”, “EBITDA per share”, “shareholder free cash flow” and “shareholder free cash flow per share”. These financial measures do not have standard definitions prescribed by IFRS and, therefore, may not be comparable to similar measures disclosed by other companies. The Company has included these non-GAAP financial measures because management, investors, analysts and others use them as measures of the Company’s financial performance. The Company’s definition of EBITDA is cash available for interest payments, cash taxes, repayment of debt, purchase of its shares, discretionary capital expenditures and the payment of dividends, and is calculated as earnings (loss) from operations before interest, taxes, depreciation and amortization. The Company believes EBITDA assists investors in comparing Pulse’s results on a consistent basis without regard to non-cash items, such as depreciation and amortization, which can vary significantly depending on accounting methods or non-operating factors such as historical cost. EBITDA per share is defined as EBITDA divided by the weighted average number of shares outstanding for the period. Shareholder free cash flow further refines the calculation of capital available to invest in growing the Company’s 2D and 3D seismic data library, to repay debt, to purchase its common shares and to pay dividends by deducting non-discretionary expenditures from EBITDA. Non-discretionary expenditures are defined as non-cash expenses, debt financing costs (net of deferred financing expenses amortized in the current period), net restructuring costs and current tax provisions. Shareholder free cash flow per share is defined as shareholder free cash flow divided by the weighted average number of shares outstanding for the period.
    These non-GAAP financial measures are defined, calculated and reconciled to the nearest GAAP financial measures in the Management’s Discussion and Analysis.
    (b) TTM EBITDA is defined as the sum of EBITDA generated over the previous 12 months and is used to provide a comparable annualized measure.
    These non-GAAP financial measures are defined, calculated and reconciled to the nearest GAAP financial measures in the Management’s Discussion and Analysis.

    OUTLOOK

    Pulse had a very strong first quarter, generating revenue of $22.8 million and ending the quarter with $14.3 million of cash and $14.2 million of working capital. This was one of the top three quarters in the Company’s history, representing 97% of annual 2024 revenue. Pulse’s ability to predict future revenue generation has always been challenging, as significant annual fluctuations are the norm in the seismic data library business. This strong quarterly result has improved our balance sheet and positioned the Company for solid financial performance in 2025.

    Industry trends that we consider relevant include land sales in Western Canada, drilling forecasts for the year, commodity price levels, M and A forecasts and the status of industry infrastructure improvements. Early in 2025, industry projections included high levels of M & A activity for the year and improving commodity prices. It is difficult to predict in the midst of the current market dynamics how this will unfold through the remainder of 2025. Alberta land sales through 2024 and into 2025 were strong, and in British Columbia land sales were resumed in Q3 2024 after a pause of over 3 years. New infrastructure, such as the TMX pipeline expansion, a driver of increased drilling activity, which was completed in 2024 has provided increased export capacity. The Canadian Association of Energy Contractors, in November 2024 forecast an increase to 6,604 wells to be drilled in 2025, an approximate 7% increase over 2024. There has been no update published to this forecast, and drilling activity is reported to be relatively stable. The pending completion of LNG Canada’s liquified natural gas export facility is expected to contribute to the forecast increase in drilling and may lead to an improvement in Canadian natural gas prices.

    Of course, there is a high level of uncertainty on the political and economic fronts. The impacts of the recent change in administration in the United States and the uncertainty around energy tariffs and trade policy, together with Canadian federal government leadership changes and the pending Canadian federal election outcome are contributing to the lack of clarity for the future. It is clear that Canada needs to continue to build pipelines and increase natural gas egress, to support the country’s energy security, as well as to secure new buyers of Canadian energy.

    Pulse, as previously stated, has low visibility regarding future seismic data library sales levels, regardless of industry conditions. The Company remains focused on business practices that have served throughout the full range of conditions. The Company maintains a strong balance sheet and carries no debt. Led by an experienced and capable management team, Pulse operates with a low-cost structure and focuses on maintaining excellent client relations and providing exceptional customer service. Pulse’s strong financial position, high leverage to increased revenue in its EBITDA margin and careful management of its cash resources have resulted in the return of capital to shareholders through regular and special dividends and the repurchase of its shares.

    CORPORATE PROFILE

    Pulse is a market leader in the acquisition, marketing and licensing of 2D and 3D seismic data to the western Canadian energy sector. Pulse owns the largest licensable seismic data library in Canada, currently consisting of approximately 65,310 square kilometres of 3D seismic and 829,207 kilometres of 2D seismic. The library extensively covers the Western Canada Sedimentary Basin, where most of Canada’s oil and natural gas exploration and development occur.

    For further information, please contact:
    Neal Coleman, President and CEO
    Or
    Pamela Wicks, Vice President Finance and CFO
    Tel.: 403-237-5559
    Toll-free: 1-877-460-5559
    E-mail: info@pulseseismic.com.
    Please visit our website at www.pulseseismic.com

    This document contains information that constitutes “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities legislation. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “forecast”, “target”, “project”, “guidance”, “may”, “will”, “should”, “could”, “estimate”, “predict” or similar words suggesting future outcomes or language suggesting an outlook.

    The Outlook section herein contain forward-looking information which includes, but is not limited to, statements regarding:

    >        The outlook of the Company for the year ahead, including future operating costs and expected revenues;

    >       Recent events on the political, economic, regulatory, and legal fronts affecting the industry’s medium- to longer-term prospects, including progression and completion of contemplated infrastructure projects;

    >        The Company’s capital resources and sufficiency thereof to finance future operations, meet its obligations associated with financial liabilities and carry out the necessary capital expenditures through 2025;

    >        Pulse’s capital allocation strategy;

    >        Pulse’s dividend policy;

    >        Oil and natural gas prices and forecast trends;

    >        Oil and natural gas drilling activity and land sales activity;

    >        Oil and natural gas company capital budgets;

    >        Future demand for seismic data;

    >        Future seismic data sales;

    >        Pulse’s business and growth strategy; and

    >        Other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results and performance, as they relate to the Company or to the oil and natural gas industry as a whole.

    By its very nature, forward-looking information involves inherent risks and uncertainties, both general and specific, and risks that predictions, forecasts, projections and other forward-looking statements will not be achieved. Pulse does not publish specific financial goals or otherwise provide guidance, due to the inherently poor visibility of seismic revenue. The Company cautions readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in such forward-looking information.

    These factors include, but are not limited to:

    >        Uncertainty of the timing and volume of data sales;

    >        Volatility of oil and natural gas prices;

    >        Risks associated with the oil and natural gas industry in general;

    >        The Company’s ability to access external sources of debt and equity capital;

    >        Credit, liquidity and commodity price risks;

    >        The demand for seismic data;

    >        The pricing of data library licence sales;

    >         Cybersecurity;

    >        Relicensing (change-of-control) fees and partner copy sales;

    >        Environmental, health and safety risks;

    >        Federal and provincial government laws and regulations, including those pertaining to taxation, royalty rates, environmental protection, public health and safety;

    >        Competition;

    >        Dependence on key management, operations and marketing personnel;

    >        The loss of seismic data;

    >        Protection of intellectual property rights;

    >        The introduction of new products; and

    >        Climate change.

    Pulse cautions that the foregoing list of factors that may affect future results is not exhaustive. Additional information on these risks and other factors which could affect the Company’s operations and financial results is included under “Risk Factors” in the Company’s most recent annual information form, and in the Company’s most recent audited annual financial statements, most recent MD&A, management information circular, quarterly reports, material change reports and news releases. Copies of the Company’s public filings are available on SEDAR+ at www.sedarplus.ca.

    When relying on forward-looking information to make decisions with respect to Pulse, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Furthermore, the forward-looking information contained in this document is provided as of the date of this document and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, except as required by law. The forward-looking information in this document is provided for the limited purpose of enabling current and potential investors to evaluate an investment in Pulse. Readers are cautioned that such forward-looking information may not be appropriate, and should not be used, for other purposes.

    PDF available: http://ml.globenewswire.com/Resource/Download/a8c573ed-9098-4949-97bc-2c4553e2eae4

    The MIL Network –

  • MIL-OSI: Timberland Bancorp Reports Second Fiscal Quarter Net Income of $6.76 Million

    Source: GlobeNewswire (MIL-OSI)

    • Quarterly EPS Increases 21% to $0.85 from $0.70 One Year Ago
    • Quarterly Net Interest Margin Increases to 3.79%
    • Quarterly Return on Average Assets of 1.43%
    • Quarterly Return on Average Equity of 10.95%
    • Announces a 4% Increase in the Quarterly Cash Dividend

    HOQUIAM, Wash., April 22, 2025 (GLOBE NEWSWIRE) — Timberland Bancorp, Inc. (NASDAQ: TSBK) (“Timberland” or “the Company”), the holding company for Timberland Bank (the “Bank”), today reported net income of $6.76 million, or $0.85 per diluted common share for the quarter ended March 31, 2025. This compares to net income of $6.86 million, or $0.86 per diluted common share for the preceding quarter and $5.71 million, or $0.70 per diluted common share, for the comparable quarter one year ago.

    For the first six months of fiscal 2025, Timberland’s net income increased 13% to $13.62 million, or $1.71 per diluted common share, from $12.00 million, or $1.47 per diluted common share for the first six months of fiscal 2024.

    “Our second fiscal quarter operating results were strong, highlighted by net interest margin expansion and modest balance sheet growth,” stated Dean Brydon, Chief Executive Officer. “Second fiscal quarter net income and earnings per share increased 18% and 21%, respectively, compared to the second fiscal quarter a year ago, reflecting an improvement in our net interest margin. Compared to the prior quarter, net income and earnings per share decreased 2% and 1%, respectively, as the increase in net interest income was offset by a higher provision for credit losses and a modest increase in expenses. All profitability metrics improved compared to the year ago quarter, and tangible book value per share (non-GAAP) continued to trend upward.”

    “As a result of Timberland’s solid earnings and strong capital position, our Board of Directors announced a 4% increase to the quarterly cash dividend to shareholders to $0.26 per share, payable on May 23, 2025, to shareholders of record on May 9, 2025,” stated Jonathan Fischer, President and Chief Operating Officer. “This represents the 50th consecutive quarter Timberland will have paid a cash dividend.”

    “During the second fiscal quarter our net interest margin continued to improve, expanding 15 basis points to 3.79%, compared to the preceding quarter,” said Marci Basich, Chief Financial Officer. “The improvement was primarily driven by a reduction in funding costs as the weighted average cost of interest-bearing liabilities decreased by 15 basis points during the quarter. Total deposits increased $20 million, or 1% during the quarter, due to increases in checking and certificates of deposit account balances.”

    “The loan portfolio continues to grow at a moderate pace, increasing 1% from the prior quarter and 4% year-over year,” Brydon continued. “We continue to monitor credit quality closely and saw improvements in several metrics during the quarter. The non-performing asset ratio improved to just 13 basis points, non-accrual loans decreased by 15%, and net charge-offs were less than $1,000 during the quarter. However, we experienced an increase in loans graded “Substandard”, as two loans related to one borrowing relationship were downgraded. Both of the loans are performing and Timberland remains well collateralized based on recent appraisals, but the loans were downgraded primarily because the borrower is experiencing a legal issue stemming from an unrelated project. We view this as an isolated event, and remain encouraged by the overall strength of our loan portfolio.”

    Earnings and Balance Sheet Highlights (at or for the periods ended March 31, 2025, compared to March 31, 2024, or December 31, 2024):

    Earnings Highlights:

    • Earnings per diluted common share (“EPS”) decreased 1% to $0.85 for the current quarter from $0.86 for the preceding quarter and increased 21% from $0.70 for the comparable quarter one year ago; EPS increased 16% to $1.71 for the first six months of fiscal 2025 from $1.47 for the first six months of fiscal 2024;
    • Net income decreased 2% to $6.76 million for the current quarter from $6.86 million for the preceding quarter and increased 18% from $5.71 million for the comparable quarter one year ago; Net income increased 13% to $13.62 million for the first six months of fiscal 2025 from $12.00 million for the first six months of fiscal 2024;
    • Return on average equity (“ROE”) and return on average assets (“ROA”) for the current quarter were 10.95% and 1.43%, respectively;
    • Net interest margin (“NIM”) for the current quarter expanded to 3.79% from 3.64% for the preceding quarter and 3.48% for the comparable quarter one year ago; and
    • The efficiency ratio for the current quarter improved to 56.25% from 56.27% for the preceding quarter and 60.22% for the comparable quarter one year ago.

    Balance Sheet Highlights:

    • Total assets increased 1% from the prior quarter and increased 1% year-over-year;
    • Net loans receivable increased 1% from the prior quarter and increased 4% year-over-year;
    • Total deposits increased 1% from the prior quarter and increased 1% year-over-year;
    • Total shareholders’ equity increased 1% from the prior quarter and increased 6% year-over-year; 61,764 shares of common stock were repurchased during the current quarter for $1.91 million;
    • Non-performing assets to total assets ratio improved to 0.13% at March 31, 2025 compared to 0.16% at December 31, 2024 and 0.19% at March 31, 2024;
    • Book and tangible book (non-GAAP) values per common share increased to $31.95 and $29.99, respectively, at March 31, 2025; and
    • Liquidity (both on-balance sheet and off-balance sheet) remained strong at March 31, 2025 with only $20 million in borrowings and additional secured borrowing line capacity of $675 million available through the Federal Home Loan Bank (“FHLB”) and the Federal Reserve.

    Operating Results

    Operating revenue (net interest income before the provision for credit losses plus non-interest income) for the current quarter increased 1% to $19.90 million from $19.67 million for the preceding quarter and increased 9% from $18.25 million for the comparable quarter one year ago. The increase in operating revenue compared to the preceding quarter was primarily due to a decrease in funding costs, which was partially offset by a decrease in total interest and dividend income. Operating revenue increased 7%, to $39.57 million for the first six months of fiscal 2025 from $37.05 million for the first six months of fiscal 2024, primarily due to increases in interest income from loans and interest-bearing deposits in banks, which was partially offset by an increase in funding costs and a decrease in interest income on investment securities.

    Net interest income increased $243,000, or 1%, to $17.21 million for the current quarter from $16.97 million for the preceding quarter and increased $1.58 million, or 10%, from $15.64 million for the comparable quarter one year ago. The increase in net interest income compared to the preceding quarter was primarily due to a 15 basis point decrease in the weighted average cost of total interest-bearing liabilities to 2.47% from 2.62% and a six basis point increase in the weighted average yield on total interest-earning assets to 5.48% from 5.42%. These increases to net interest income were partially offset by an $11.44 million decrease in the average balance of total interest-earning assets.   Timberland’s NIM for the current quarter expanded to 3.79% from 3.64% for the preceding quarter and 3.48% for the comparable quarter one year ago.   The NIM for the current quarter was increased by approximately five basis points due to the collection of $201,000 in pre-payment penalties, non-accrual interest, and late fees and the accretion of $17,000 of the fair value discount on acquired loans.   The NIM for the preceding quarter was increased by approximately three basis points due to the collection of $115,000 in pre-payment penalties, non-accrual interest, and late fees, and the accretion of $8,000 of the fair value discount on acquired loans.   The NIM for the comparable quarter one year ago was increased by approximately three basis points due to the collection of $90,000 in pre-payment penalties, non-accrual interest, and late fees, and the accretion of $10,000 of the fair value discount on acquired loans. Net interest income for the first six months of fiscal 2025 increased $2.54 million, or 8%, to $34.18 million from $31.64 million for the first six months of fiscal 2024, primarily due to a $55.11 million increase in the average balance of total interest-earning assets and a 34 basis point increase in the weighted average yield of total interest-earning assets to 5.44% from 5.10%. These increases to net interest income were partially offset by an 18 basis point increase in the weighted average cost of interest-bearing liabilities to 2.55% from 2.37%. Timberland’s NIM expanded to 3.71% for the first six months of fiscal 2025 from 3.53% for the first six months of fiscal 2024.

    A $237,000 provision for credit losses on loans was recorded for the quarter ended March 31, 2025. The provision was primarily due to loan portfolio growth and changes in the composition of the loan portfolio. This compares to a $52,000 provision for credit losses on loans for the preceding quarter and a $166,000 provision for credit losses on loans for the comparable quarter one year ago. In addition, a $14,000 provision for credit losses on unfunded commitments and a $5,000 recapture of credit losses on investment securities were recorded for the current quarter.  

    Non-interest income decreased $10,000, (less than 1%) to $2.69 million for the current quarter from $2.70 million for the preceding quarter and increased $72,000, or 3%, from $2.62 million for the comparable quarter one year ago. The decrease in non-interest income compared to the preceding quarter was primarily due to a decrease in ATM and debit card interchange transaction fees and smaller changes in several other categories, which was partially offset by an increase in gain on sales of loans and smaller changes in several other categories. Fiscal year-to-date non-interest income decreased by 1%, to $5.38 million from $5.41 million for the first six months of fiscal 2024.

    Total operating (non-interest) expenses for the current quarter increased $127,000, or 1%, to $11.19 million from $11.07 million for the preceding quarter and increased $203,000, or 2%, from $10.99 million for the comparable quarter one year ago.   The increase in operating expenses compared to the preceding quarter was primarily due to increases in premises and equipment expenses, professional fees and smaller increases in several other expense categories. These increases were partially offset by decreases in salaries and employee benefits and smaller decreases in several other expense categories. The efficiency ratio for the current quarter was 56.25% compared to 56.27% for the preceding quarter and 60.22% for the comparable quarter one year ago. Fiscal year-to-date operating expenses increased 3% to $22.26 million from $21.62 million for the first six months of fiscal 2024.

    The provision for income taxes for the current quarter decreased $8,000, or less than 1%, to $1.71 million from $1.71 million for the preceding quarter, primarily due to lower taxable income. Timberland’s effective income tax rate was 20.2% for the quarter ended March 31, 2025, compared to 20.0% for the quarter ended December 31, 2024 and 20.5% for the quarter ended March 31, 2024. Timberland’s effective income tax rate was 20.1% for the first six months of fiscal 2025 and fiscal 2024.

    Balance Sheet Management

    Total assets increased $23.25 million, or 1%, during the quarter to $1.93 billion at March 31, 2025 from $1.91 billion at December 31, 2024 and increased $25.50 million, or 1%, from $1.91 billion one year ago.   The increase during the current quarter was primarily due to a $27.14 million increase in total cash and cash equivalents, an $8.26 million increase in net loans receivable and smaller increases in several other categories. These increases were partially offset by a $7.42 million decrease in investment securities and smaller decreases in several other categories.

    Liquidity

    Timberland has continued to maintain a strong liquidity position, both on-balance sheet and off-balance sheet. Liquidity, as measured by the sum of cash and cash equivalents, CDs held for investment, and available for sale investment securities, was 16.9% of total liabilities at March 31, 2025, compared to 15.0% at December 31, 2024, and 15.2% one year ago. Timberland had secured borrowing line capacity of $675 million available through the FHLB and the Federal Reserve at March 31, 2025. With a strong and diversified deposit base, only 18% of Timberland’s deposits were uninsured or uncollateralized at March 31, 2025. (Note: This calculation excludes public deposits that are fully collateralized.)

    Loans

    Net loans receivable increased $8.26 million, or 1%, during the quarter to $1.42 billion at March 31, 2025 from $1.41 billion at December 31, 2024. This increase was primarily due to a $10.31 million decrease in the undisbursed portion of construction loans in process, an $8.98 million increase in one- to four-family loans and a $5.19 million increase in commercial real estate loans. These increases were partially offset by a $12.57 million decrease in construction loans and smaller decreases in several other loan categories.

    Loan Portfolio
    ($ in thousands)
     
      March 31, 2025   December 31, 2024   March 31, 2024
      Amount   Percent   Amount   Percent   Amount   Percent
    Mortgage loans:                      
    One- to four-family (a) $ 315,421     21%   $ 306,443     20%   $ 276,433     19%
    Multi-family   178,590     12     177,861     12     167,275     12
    Commercial   602,248     40     597,054     39     577,373     40
    Construction – custom and                      
    owner/builder   114,401     7     124,104     8     122,988     8
    Construction – speculative one-to four-family   9,791     1     8,887     1     16,407     1
    Construction – commercial   22,352     1     22,841     2     32,318     2
    Construction – multi-family   46,602     3     48,940     3     36,795     3
    Construction – land                      
    development   15,032     1     15,977     1     16,051     1
    Land   32,301     2     30,538     2     31,821     2
    Total mortgage loans   1,336,738     88     1,332,645     88     1,277,461     88
                           
    Consumer loans:                      
    Home equity and second                      
    mortgage   47,458     3     48,851     3     42,357     3
    Other   2,375     —     2,889     —     2,925     —
    Total consumer loans   49,833     3     51,740     3     45,282     3
                           
    Commercial loans:                      
    Commercial business loans   131,243     9     135,312     9     135,505     9
    SBA PPP loans   156     —     204     —     367     —
    Total commercial loans   131,399     9     135,516     9     135,872     9
    Total loans   1,517,970     100%     1,519,901     100%     1,458,615     100%
    Less:                      
    Undisbursed portion of                      
    construction loans in                      
    process   (75,042 )         (85,350 )         (77,502 )    
    Deferred loan origination                      
    fees   (5,329 )         (5,444 )         (5,179 )    
    Allowance for credit losses   (17,525 )         (17,288 )         (16,818 )    
    Total loans receivable, net $ 1,420,074         $ 1,411,819         $ 1,359,116      
                                       

    _______________________
    (a)  Does not include one- to four-family loans held for sale totaling $1,151, $411, and $1,311 at March 31, 2025, December 31, 2024, and March 31, 2024, respectively.  

    The following table provides a breakdown of commercial real estate (“CRE”) mortgage loans by collateral type as of March 31, 2025:

    CRE Loan Portfolio Breakdown by Collateral
    ($ in thousands)
     
    Collateral Type   Balance   Percent of
    CRE
    Portfolio    		   Percent of
    Total Loan
    Portfolio    		   Average
    Balance Per
    Loan    		   Non-
    Accrual
    Industrial warehouse   $ 127,898   21%   8%   $ 1,255   $ 163
    Medical/dental offices     84,013   14   5     1,254     —
    Office buildings     68,239   11   5     784     —
    Other retail buildings     53,121   9   3     553     —
    Mini-storage     32,596   5   2     1,358     —
    Hotel/motel     31,967   5   2     2,664     —
    Restaurants     27,374   5   2     582     161
    Gas stations/conv. stores     24,622   4   2     1,026     —
    Churches     14,823   3   1     988     —
    Nursing homes     13,606   2   1     2,268     —
    Shopping centers     10,578   2   1     1,762     —
    Mobile home parks     8,968   2   1     448     —
    Additional CRE     104,443   17   7     762     —
    Total CRE   $ 602,248   100%   40%   $ 938   $ 324
                               

    Timberland originated $56.76 million in loans during the quarter ended March 31, 2025, compared to $72.07 million for the preceding quarter and $39.37 million for the comparable quarter one year ago. Timberland continues to originate fixed-rate one- to four-family mortgage loans, a portion of which are sold into the secondary market for asset-liability management purposes and to generate non-interest income.   During the current quarter, fixed-rate one- to four-family mortgage loans totaling $5.17 million were sold compared to $2.31 million for the preceding quarter and $2.28 million for the comparable quarter one year ago.

    Investment Securities
            
    Timberland’s investment securities and CDs held for investment decreased $6.17 million, or 3%, to $235.33 million at March 31, 2025, from $241.50 million at December 31, 2024. The decrease was primarily due to maturities of U.S. Treasury investment securities (classified as held to maturity) and scheduled amortization. Partially offsetting these decreases, was the purchase of additional U.S. government agency mortgage-backed investment securities and U.S. Treasury investment securities, all of which were classified as available for sale.

    Deposits

    Total deposits increased $20.41 million, or 1%, during the quarter to $1.65 billion at March 31, 2025, from $1.63 billion at December 31, 2024. The quarter’s increase consisted of a $15.45 million increase in certificates of deposit account balances, a $9.91 million increase in NOW checking account balances, a $4.90 million increase in non-interest bearing account balances, and a $1.01 million increase in savings account balances. These decreases were partially offset by a $10.86 million decrease in money market account balances.

    Deposit Breakdown
    ($ in thousands)
     
      March 31, 2025   December 31, 2024   March 31, 2024
      Amount    Percent   Amount    Percent   Amount   Percent
    Non-interest-bearing demand $ 407,811     25%   $ 402,911     25%   $ 424,906   26%
    NOW checking   333,325     20     323,412     20     336,621   20
    Savings   207,857     13     206,845     13     211,085   13
    Money market   300,552     18     311,413     19     311,994   19
    Certificates of deposit under $250   227,137     14     212,764     13     190,762   12
    Certificates of deposit $250 and over   124,009     7     122,997     7     118,698   7
    Certificates of deposit – brokered   50,139     3     50,074     3     44,488   3
    Total deposits $ 1,650,830     100%   $ 1,630,416     100%   $ 1,638,554   100%
                                     

    Borrowings

    Total borrowings were $20.00 million at both March 31, 2025 and December 31, 2024. At March 31, 2025, the weighted average rate on the borrowings was 3.97%.

    Shareholders’ Equity and Capital Ratios

    Total shareholders’ equity increased $3.32 million, or 1%, to $252.52 million at March 31, 2025, from $249.20 million at December 31, 2024, and increased $13.84 million, or 6%, from $238.68 million at March 31, 2024.   The quarter’s increase in shareholders’ equity was primarily due to net income of $6.76 million, which was partially offset by the payment of $1.99 million in dividends to shareholders and the repurchase of 61,764 shares of common stock for $1.91 million (an average price of $30.85 per share). There were 65,995 shares available to be repurchased in accordance with the terms of its existing stock repurchase plan at March 31, 2025.

    Timberland remains well capitalized with a total risk-based capital ratio of 20.29%, a Tier 1 leverage capital ratio of 12.55%, a tangible common equity to tangible assets ratio (non-GAAP) of 12.36%, and a shareholders’ equity to total assets ratio of 13.07% at March 31, 2025.   Timberland’s held to maturity investment securities were $140.95 million at March 31, 2025, with a net unrealized loss of $6.62 million (pre-tax). Although not permitted by U.S. Generally Accepted Accounting Principles (“GAAP”), including these unrealized losses in accumulated other comprehensive income (loss) (“AOCI”) would result in a ratio of shareholders’ equity to total assets of 12.83%, compared to 13.07%, as reported.

    Asset Quality

    Timberland’s non-performing assets to total assets ratio improved to 0.13% at March 31, 2025, compared to 0.16% at December 31, 2024 and 0.19% at March 31, 2024.   Net charge-offs totaled less than $1,000 for the current quarter compared to net charge-offs of $242,000 for the preceding quarter and net charge-offs of $3,000 for the comparable quarter one year ago. During the current quarter, provisions for credit losses of $237,000 on loans and $14,000 unfunded commitments were made, which was partially offset by a $5,000 recapture of credit losses on investment securities. The allowance for credit losses (“ACL”) for loans as a percentage of loans receivable was 1.22% at March 31, 2025, compared to 1.21% at December 31, 2024 and 1.22% one year ago.

    Total delinquent loans (past due 30 days or more) and non-accrual loans decreased $697,000 or 17%, to $3.32 million at March 31, 2025, from $4.02 million at December 31, 2024 and decreased $879,000, or 21%, from $4.20 million at March 31, 2024. Non-accrual loans decreased $406,000, or 15%, to $2.33 million at March 31, 2025 from $2.73 million at December 31, 2024 and decreased $1.28 million, or 35%, from $3.61 million at March 31, 2024.   The quarterly decrease in non-accrual loans was primarily due to decreases in commercial business loans and commercial real estate loans on non-accrual status. Loans graded “Substandard”, however, increased to $23.51 million at March 31, 2025 from $2.12 million at December 31, 2024 and $8.42 million at March 31, 2024. The increase in loans graded “Substandard” was primarily a result of two loans (totaling $21.30 million) to one borrowing relationship being downgraded during the March 31, 2025 quarter. Both of these loans are performing and Timberland remains well collateralized (based on recent appraisals), but the loans were downgraded primarily because the borrower is experiencing a legal issue stemming from an unrelated project.   

    Non-Accrual Loans
    ($ in thousands)
     
      March 31, 2025   December 31, 2024   March 31, 2024
      Amount   Quantity   Amount   Quantity   Amount   Quantity
    Mortgage loans:                      
    One- to four-family $ 47   1   $ 47   1   $ 380   3
    Commercial   324   3     698   5     1,149   3
    Construction – custom and                      
    owner/builder   —   —     —   —     152   1
    Total mortgage loans   371   4     745   6     1,681   7
                           
    Consumer loans:                      
    Home equity and second                      
    mortgage   575   3     587   3     165   1
    Other   —   —     —   —     —   —
    Total consumer loans   575   3     587   3     165   1
                           
    Commercial business loans   1,381   11     1,401   11     1,759   6
    Total loans $ 2,327   18   $ 2,733   20   $ 3,605   14
                                 

    Timberland had two properties classified as other real estate owned (“OREO”) at March 31, 2025:

      March 31, 2025   December 31, 2024   March 31, 2024
      Amount   Quantity   Amount   Quantity   Amount   Quantity
    Other real estate owned:                      
    Commercial $ 221   1   $ 221   1   $ —   —
    Land   —   1     —   1     —   1
    Total mortgage loans $ 221   2   $ 221   2   $ —   1
                                 

    About Timberland Bancorp, Inc.
    Timberland Bancorp, Inc., a Washington corporation, is the holding company for Timberland Bank. The Bank opened for business in 1915 and primarily serves consumers and businesses across Grays Harbor, Thurston, Pierce, King, Kitsap and Lewis counties, Washington with a full range of lending and deposit services through its 23 branches (including its main office in Hoquiam).    

    Disclaimer

    Certain matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to our financial condition, results of operations, plans, objectives, future performance or business. Forward-looking statements are not statements of historical fact, are based on certain assumptions and often include the words “believes,” “expects,” “anticipates,” “estimates,” “forecasts,” “intends,” “plans,” “targets,” “potentially,” “probably,” “projects,” “outlook” or similar expressions or future or conditional verbs such as “may,” “will,” “should,” “would” and “could.” Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, assumptions and statements about future economic performance. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from the results anticipated or implied by our forward-looking statements, including, but not limited to: potential adverse impacts to economic conditions in our local market areas, other markets where the Company has lending relationships, or other aspects of the Company’s business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, a potential recession or slowed economic growth; continuing elevated levels of inflation and the impact of current and future monetary policies of the Board of Governors of the Federal Reserve System (“Federal Reserve”) in response thereto; the effects of any federal government shutdown; credit risks of lending activities, including any deterioration in the housing and commercial real estate markets which may lead to increased losses and non-performing loans in our loan portfolio resulting in our ACL not being adequate to cover actual losses and thus requiring us to materially increase our ACL through the provision for credit losses; changes in general economic conditions, either nationally or in our market areas; changes in the levels of general interest rates, and the relative differences between short and long-term interest rates, deposit interest rates, our net interest margin and funding sources; fluctuations in the demand for loans, the number of unsold homes, land and other properties and fluctuations in real estate values in our market areas; secondary market conditions for loans and our ability to sell loans in the secondary market; results of examinations of us by the Federal Reserve and of our bank subsidiary by the Federal Deposit Insurance Corporation (“FDIC”), the Washington State Department of Financial Institutions, Division of Banks or other regulatory authorities, including the possibility that any such regulatory authority may, among other things, institute a formal or informal enforcement action against us or our bank subsidiary which could require us to increase our ACL, write-down assets, change our regulatory capital position or affect our ability to borrow funds or maintain or increase deposits or impose additional requirements or restrictions on us, any of which could adversely affect our liquidity and earnings; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; legislative or regulatory changes that adversely affect our business including changes in banking, securities and tax law, in regulatory policies and principles, or the interpretation of regulatory capital or other rules; our ability to attract and retain deposits; our ability to control operating costs and expenses; the use of estimates in determining fair value of certain of our assets, which estimates may prove to be incorrect and result in significant declines in valuation; difficulties in reducing risks associated with the loans in our consolidated balance sheet; staffing fluctuations in response to product demand or the implementation of corporate strategies that affect our work force and potential associated charges; disruptions, security breaches, or other adverse events, failures or interruptions in, or attacks on, our information technology systems or on the third-party vendors who perform several of our critical processing functions; our ability to retain key members of our senior management team; costs and effects of litigation, including settlements and judgments; our ability to implement our business strategies; our ability to manage loan delinquency rates; increased competitive pressures among financial services companies; changes in consumer spending, borrowing and savings habits; the availability of resources to address changes in laws, rules, or regulations or to respond to regulatory actions; our ability to pay dividends on our common stock; the quality and composition of our securities portfolio and the impact if any adverse changes in the securities markets, including on market liquidity; inability of key third-party providers to perform their obligations to us; changes in accounting policies and practices, as may be adopted by the financial institution regulatory agencies or the Financial Accounting Standards Board (“FASB”), including additional guidance and interpretation on accounting issues and details of the implementation of new accounting methods; the economic impact of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, civil unrest and other external events on our business; other economic, competitive, governmental, regulatory, and technological factors affecting our operations, pricing, products and services; and other risks described elsewhere in this press release and in the Company’s other reports filed with or furnished to the Securities and Exchange Commission.

    Any of the forward-looking statements that we make in this press release and in the other public statements we make are based upon management’s beliefs and assumptions at the time they are made. We do not undertake and specifically disclaim any obligation to publicly update or revise any forward-looking statements included in this press release to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements or to update the reasons why actual results could differ from those contained in such statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking statements discussed in this document might not occur and we caution readers not to place undue reliance on any forward-looking statements. These risks could cause our actual results for fiscal 2025 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us, and could negatively affect the Company’s consolidated financial condition and results of operations as well as its stock price performance.

    TIMBERLAND BANCORP INC. AND SUBSIDIARY
    CONSOLIDATED STATEMENTS OF INCOME    		 Three Months Ended
    ($ in thousands, except per share amounts) (unaudited) March 31,   Dec. 31   March 31,
      2025   2024   2024
      Interest and dividend income          
      Loans receivable $ 20,896     $ 21,032     $ 18,909  
      Investment securities   2,003       2,138       2,246  
      Dividends from mutual funds, FHLB stock and other investments   82       86       82  
      Interest bearing deposits in banks   1,884       2,001       1,919  
      Total interest and dividend income   24,865       25,257       23,156  
                 
      Interest expense          
      Deposits   7,454       8,084       7,301  
      Borrowings   198       203       220  
      Total interest expense   7,652       8,287       7,521  
      Net interest income   17,213       16,970       15,635  
      Provision for credit losses – loans   237       52       166  
      Prov. for (recapture of) credit losses – investment securities   (5 )     (5 )     3  
      Prov. for (recapture of ) credit losses – unfunded commitments   14       (20 )     (88 )
      Net int. income after provision for (recapture of) credit losses   16,967       16,943       15,554  
                 
      Non-interest income          
      Service charges on deposits   959       999       988  
      ATM and debit card interchange transaction fees   1,176       1,267       1,212  
      Gain on sales of loans, net   122       43       41  
      Bank owned life insurance (“BOLI”) net earnings   165       167       156  
      Recoveries on investment securities, net   4       3       2  
      Other   261       218       216  
      Total non-interest income, net   2,687       2,697       2,615  
                 
      Non-interest expense          
      Salaries and employee benefits   5,977       6,092       6,024  
      Premises and equipment   1,075       950       1,081  
      Advertising   189       181       159  
      OREO and other repossessed assets, net   9       —       —  
      ATM and debit card processing   521       521       601  
      Postage and courier   142       121       145  
      State and local taxes   335       346       325  
      Professional fees   431       346       319  
      FDIC insurance   219       210       206  
      Loan administration and foreclosure   155       128       134  
      Technology and communications   1,121       1,140       1,040  
      Deposit operations   319       332       324  
      Amortization of core deposit intangible (“CDI”)   45       45       57  
      Other, net   656       655       576  
      Total non-interest expense, net   11,194       11,067       10,991  
                 
      Income before income taxes   8,460       8,573       7,178  
      Provision for income taxes   1,705       1,713       1,470  
      Net income $ 6,755     $ 6,860     $ 5,708  
                 
      Net income per common share:          
      Basic $ 0.85     $ 0.86     $ 0.71  
      Diluted   0.85       0.86       0.70  
                 
      Weighted average common shares outstanding:          
      Basic   7,937,063       7,958,275       8,081,924  
      Diluted   7,968,632       7,999,504       8,121,109  
                 
    TIMBERLAND BANCORP INC. AND SUBSIDIARY
    CONSOLIDATED STATEMENTS OF INCOME    		 Six Months Ended
    ($ in thousands, except per share amounts) (unaudited) March 31,       March 31,
      2025       2024
      Interest and dividend income          
      Loans receivable $ 41,928         $ 37,304  
      Investment securities   4,141           4,556  
      Dividends from mutual funds, FHLB stock and other investments   168           173  
      Interest bearing deposits in banks   3,885           3,618  
      Total interest and dividend income   50,122           45,651  
                 
      Interest expense          
      Deposits   15,538           13,444  
      Borrowings   402           568  
      Total interest expense   15,940           14,012  
      Net interest income   34,182           31,639  
      Provision for credit losses – loans   289           545  
      Recapture of credit losses – investment securities   (10 )         (7 )
      Recapture of credit losses – unfunded commitments   (7 )         (121 )
      Net int. income after provision for (recapture of) credit losses   33,910           31,222  
                 
      Non-interest income          
      Service charges on deposits   1,958           2,011  
      ATM and debit card interchange transaction fees   2,443           2,476  
      Gain on sales of loans, net   165           120  
      Bank owned life insurance (“BOLI”) net earnings   331           312  
      Recoveries on investment securities, net   7           7  
      Other   480           487  
      Total non-interest income, net   5,384           5,413  
                 
      Non-interest expense          
      Salaries and employee benefits   12,068           11,936  
      Premises and equipment   2,025           2,054  
      Advertising   370           345  
      OREO and other repossessed assets, net   9           —  
      ATM and debit card processing   1,043           1,216  
      Postage and courier   264           271  
      State and local taxes   680           644  
      Professional fees   777           572  
      FDIC insurance   429           416  
      Loan administration and foreclosure   283           239  
      Technology and communications   2,261           2,014  
      Deposit operations   652           644  
      Amortization of core deposit intangible (“CDI”)   90           113  
      Other, net   1,309           1,151  
      Total non-interest expense, net   22,260           21,615  
                 
      Income before income taxes   17,034           15,020  
      Provision for income taxes   3,419           3,016  
      Net income $ 13,615         $ 12,004  
                 
      Net income per common share:          
      Basic $ 1.71         $ 1.48  
      Diluted   1.71           1.47  
                 
      Weighted average common shares outstanding:          
      Basic   7,947,786           8,098,155  
      Diluted   7,984,238           8,143,701  
       
    TIMBERLAND BANCORP INC. AND SUBSIDIARY
    CONSOLIDATED BALANCE SHEETS    		  
    ($ in thousands, except per share amounts) (unaudited) March 31,   Dec. 31,   March 31,
      2025   2024   2024
    Assets          
    Cash and due from financial institutions $ 26,010     $ 24,538     $ 22,310  
    Interest-bearing deposits in banks   165,201       139,533       158,039  
      Total cash and cash equivalents   191,211       164,071       180,349  
                 
    Certificates of deposit (“CDs”) held for investment, at cost   8,711       7,470       11,204  
    Investment securities:          
      Held to maturity, at amortized cost (net of ACL – investment securities)   140,954       156,105       211,818  
      Available for sale, at fair value   84,807       77,080       61,746  
    Investments in equity securities, at fair value   853       840       839  
    FHLB stock   2,045       2,037       2,037  
    Other investments, at cost   3,000       3,000       3,000  
    Loans held for sale   1,151       411       1,311  
                   
    Loans receivable   1,437,599       1,429,107       1,375,934  
    Less: ACL – loans   (17,525 )     (17,288 )     (16,818 )
      Net loans receivable   1,420,074       1,411,819       1,359,116  
                 
    Premises and equipment, net   21,436       21,617       21,718  
    OREO and other repossessed assets, net   221       221       —  
    BOLI   23,942       23,777       23,278  
    Accrued interest receivable   7,127       7,095       7,108  
    Goodwill   15,131       15,131       15,131  
    CDI   361       406       564  
    Loan servicing rights, net   1,051       1,195       1,717  
    Operating lease right-of-use assets   1,324       1,400       1,624  
    Other assets   9,331       15,805       4,674  
      Total assets $ 1,932,730       1,909,480     $ 1,907,234  
                 
    Liabilities and shareholders’ equity          
    Deposits: Non-interest-bearing demand $ 407,811       402,911     $ 424,906  
    Deposits: Interest-bearing   1,243,019       1,227,505       1,213,648  
      Total deposits   1,650,830       1,630,416       1,638,554  
                 
    Operating lease liabilities   1,426       1,501       1,723  
    FHLB borrowings   20,000       20,000       20,000  
    Other liabilities and accrued expenses   7,950       8,364       8,278  
      Total liabilities   1,680,206       1,660,281       1,668,555  
               
    Shareholders’ equity          
    Common stock, $.01 par value; 50,000,000 shares authorized;                      
    7,903,489 shares issued and outstanding – March 31, 2025                      
    7,954,673 shares issued and outstanding – December 31, 2024                      
    8,023,121shares issued and outstanding – March 31, 2024   28,028       29,593       32,338  
    Retained earnings   225,166       220,398       207,086  
    Accumulated other comprehensive loss   (670 )     (792 )     (745 )
      Total shareholders’ equity   252,524       249,199       238,679  
      Total liabilities and shareholders’ equity $ 1,932,730       1,909,480     $ 1,907,234  
                             
      Three Months Ended
    PERFORMANCE RATIOS: March 31, 2025   Dec. 31, 2024   March 31, 2024
    Return on average assets (a)   1.43 %     1.41 %     1.22 %
    Return on average equity (a)   10.95 %     11.03 %     9.67 %
    Net interest margin (a)   3.79 %     3.64 %     3.48 %
    Efficiency ratio   56.25 %     56.27 %     60.22 %
               
      Six Months Ended
      March 31, 2025       March 31, 2024
    Return on average assets (a)   1.42 %         1.28 %
    Return on average equity (a)   10.99 %         10.18 %
    Net interest margin (a)   3.71 %         3.53 %
    Efficiency ratio   56.26 %         58.34 %
               
      Three Months Ended
    ASSET QUALITY RATIOS AND DATA: ($ in thousands) March 31, 2025   Dec. 31, 2024   March 31, 2024
    Non-accrual loans $ 2,327     $ 2,733     $ 3,605  
    Loans past due 90 days and still accruing   —       —       —  
    Non-performing investment securities   41       45       79  
    OREO and other repossessed assets   221       221       —  
    Total non-performing assets (b) $ 2,589     $ 2,999     $ 3,684  
               
    Non-performing assets to total assets (b)   0.13 %     0.16 %     0.19 %
    Net charge-offs during quarter $ —     $ 242     $ 3  
    Allowance for credit losses – loans to non-accrual loans   753 %     633 %     467 %
    Allowance for credit losses – loans to loans receivable (c)   1.22 %     1.21 %     1.22 %
               
               
    CAPITAL RATIOS:          
    Tier 1 leverage capital   12.55 %     12.32 %     12.01 %
    Tier 1 risk-based capital   19.04 %     18.69 %     18.08 %
    Common equity Tier 1 risk-based capital   19.04 %     18.69 %     18.08 %
    Total risk-based capital   20.29 %     19.95 %     19.33 %
    Tangible common equity to tangible assets (non-GAAP)   12.36 %     12.34 %     11.79 %
               
    BOOK VALUES:          
    Book value per common share $ 31.95     $ 31.33     $ 29.75  
    Tangible book value per common share (d)   29.99       29.37       27.79  

    ________________________________________________

    (a) Annualized
    (b) Non-performing assets include non-accrual loans, loans past due 90 days and still accruing, non-performing investment securities and OREO and other repossessed assets.
    (c) Does not include loans held for sale and is before the allowance for credit losses.
    (d) Tangible common equity divided by common shares outstanding (non-GAAP).                                

    AVERAGE BALANCES, YIELDS, AND RATES – QUARTERLY
    ($ in thousands)
    (unaudited)

      For the Three Months Ended 
      March 31, 2025    December 31, 2024    March 31, 2024 
      Amount   Rate   Amount   Rate   Amount   Rate
                           
    Assets                      
    Loans receivable and loans held for sale $ 1,435,999     5.90 %   $ 1,438,144     5.80 %   $ 1,365,417     5.57 %
    Investment securities and FHLB stock (1)   232,532     3.64       247,236     3.57             298,003     3.14  
                                             
    Interest-earning deposits in banks and CDs   172,175     4.44       166,764     4.76       143,121     5.39  
    Total interest-earning assets   1,840,706     5.48       1,852,144     5.42            1,806,541     5.16  
    Other assets   77,563           75,534           81,337      
    Total assets $ 1,918,269         $ 1,927,678         $ 1,887,878      
                           
    Liabilities and Shareholders’ Equity                      
    NOW checking accounts $ 328,115     1.32 %   $ 328,455     1.38 %   $ 367,924     1.61 %
    Money market accounts   306,137     3.18       324,424     3.42       270,623     3.14  
    Savings accounts   206,054     0.28       205,650     0.28       214,233     0.23  
    Certificates of deposit accounts   343,945     3.82       331,785     4.09       295,202     4.16  
    Brokered CDs   50,104     4.85       46,414     4.98       40,402     5.40  
    Total interest-bearing deposits   1,234,355     2.45       1,236,728     2.59       1,188,384     2.47  
    Borrowings   20,000     4.04       20,000     4.03       20,001     4.42  
    Total interest-bearing liabilities   1,254,355     2.47       1,256,728     2.62       1,208,385     2.50  
                           
    Non-interest-bearing demand deposits   403,738           414,149           431,826      
    Other liabilities   10,064           10,146           10,182      
    Shareholders’ equity   250,112           246,655           237,485      
    Total liabilities and shareholders’ equity $ 1,918,269         $ 1,927,678         $ 1,887,878      
                           
    Interest rate spread     3.01 %       2.80 %       2.66 %
    Net interest margin (2)     3.79 %       3.64 %       3.48 %
    Average interest-earning assets to                      
    average interest-bearing liabilities   146.75 %         147.38 %         149.50 %    
                                       

    _____________________________________
    (1) Includes other investments
    (2) Net interest margin = annualized net interest income / average interest-earning assets
            

    AVERAGE BALANCES, YIELDS, AND RATES
    ($ in thousands)
    (unaudited)

      For the Six Months Ended
      March 31, 2025   March 31, 2024
      Amount   Rate   Amount   Rate
                   
    Assets              
    Loans receivable and loans held for sale $ 1,437,081     5.85 %   $ 1,349,105     5.53 %
    Investment securities and FHLB stock (1)   239,966     3.60             307,636     3.08  
    Interest-earning deposits in banks and CDs   169,444     4.60       134,643     5.37  
    Total interest-earning assets        1,846,491     5.44            1,791,384     5.10  
    Other assets   76,535           81,473      
    Total assets $ 1,923,026         $ 1,872,857      
                   
    Liabilities and Shareholders’ Equity              
    NOW checking accounts $ 328,287     1.35 %   $ 372,327     1.56 %
    Money market accounts   315,381     3.31       247,656     2.78  
    Savings accounts   205,849     0.28       217,153     0.23  
    Certificates of deposit accounts   337,798     3.95       281,842     4.07  
    Brokered CDs   48,239     4.91       41,570     5.39  
    Total interest-bearing deposits   1,235,554     2.52       1,160,548     2.32  
    Borrowings   20,000     4.02       24,427     4.65  
    Total interest-bearing liabilities   1,255,554     2.55       1,184,975     2.37  
                   
    Non-interest-bearing demand deposits   409,000           440,976      
    Other liabilities   10,107           11,035      
    Shareholders’ equity   248,365           235,871      
    Total liabilities and shareholders’ equity $ 1,923,026         $ 1,872,857      
                   
    Interest rate spread     2.89 %       2.73 %
    Net interest margin (2)     3.71 %       3.53 %
    Average interest-earning assets to              
    average interest-bearing liabilities   147.07 %         151.17 %    

    _____________________________________
    (1) Includes other investments
    (2) Net interest margin = annualized net interest income / average interest-earning assets

    Non-GAAP Financial Measures
    In addition to results presented in accordance with GAAP, this press release contains certain non-GAAP financial measures. Timberland believes that certain non-GAAP financial measures provide investors with information useful in understanding the Company’s financial performance; however, readers of this report are urged to review these non-GAAP financial measures in conjunction with GAAP results as reported.

    Financial measures that exclude intangible assets are non-GAAP measures. To provide investors with a broader understanding of capital adequacy, Timberland provides non-GAAP financial measures for tangible common equity, along with the GAAP measure. Tangible common equity is calculated as shareholders’ equity less goodwill and CDI. In addition, tangible assets equal total assets less goodwill and CDI.

    The following table provides a reconciliation of ending shareholders’ equity (GAAP) to ending tangible shareholders’ equity (non-GAAP) and ending total assets (GAAP) to ending tangible assets (non-GAAP).

    ($ in thousands) March 31, 2025   December 31, 2024   March 31, 2024
               
    Shareholders’ equity $ 252,524     $ 249,199     $ 238,679  
    Less goodwill and CDI   (15,492 )     (15,537 )     (15,695 )
    Tangible common equity $ 237,032     $ 233,662     $ 222,984  
               
    Total assets $ 1,932,730     $ 1,909,480     $ 1,907,234  
    Less goodwill and CDI   (15,492 )     (15,537 )     (15,695 )
    Tangible assets $ 1,917,238     $ 1,893,943     $ 1,891,539  
                           
    Contact: Dean J. Brydon, CEO
      Jonathan A. Fischer, President & COO
      Marci A. Basich, CFO
      (360) 533-4747
      www.timberlandbank.com

    The MIL Network –

  • MIL-OSI: Texas Ventures Acquisition III Corp Announces the Pricing of $200,000,000 Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, April 22, 2025 (GLOBE NEWSWIRE) — Texas Ventures Acquisition III Corp (the “Company”) announced today the pricing of its initial public offering of 20,000,000 units. The units are expected to be listed on The Nasdaq Stock Market LLC (“Nasdaq”) and begin trading tomorrow, April 23, 2025, under the ticker symbol “TVACU.” Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to certain adjustments. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. 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. The offering is expected to close on April 24, 2025, subject to customary closing conditions. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.

    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, is acting as the lead book-running manager, and Clear Street LLC is acting as joint book-runner for the offering.

    The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Cohen & Company Capital Markets, 3 Columbus Circle, 24th Floor, New York, NY 10019, Attention: Prospectus Department, or by email at capitalmarkets@cohencm.com.

    A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and became effective 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 an 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 search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all.

    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 initial public offering filed with the SEC. Copies of these documents 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.

    Investor Contacts

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

    The MIL Network –

  • MIL-OSI: Waterstone Financial, Inc. Announces Results of Operations for the Quarter Ended March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    WAUWATOSA, Wis., April 22, 2025 (GLOBE NEWSWIRE) — Waterstone Financial, Inc. (NASDAQ: WSBF), holding company for WaterStone Bank, reported net income of $3.0 million, or $0.17 per diluted share, for the quarter ended March 31, 2025, compared to $3.0 million, or $0.16 per diluted share, for the quarter ended March 31, 2024.

    “The Community Banking segment continues to perform well in a challenging interest rate environment,” said William Bruss, Chief Executive Officer of Waterstone Financial, Inc. “We increased net interest income 6.9% at the Community Banking segment and net interest margin increased 32 bps compared to the quarter ended March 31, 2024. Asset quality continues to remain strong and low historical loan losses are reflected in the decrease in provision for credit losses during the quarter. The Mortgage Banking segment pre-tax loss reflects a market-wide decrease in loan origination volumes and elevated legal expense associated with the final settlement of a previously disclosed lawsuit. In spite of the results of the Mortgage Banking segment, Waterstone Financial, Inc. exceeded the prior year’s same quarter earnings per share, added to book value per share through our share repurchase program and maintained our strong quarterly dividend.” 

    Highlights of the Quarter Ended March 31, 2025

    Waterstone Financial, Inc. (Consolidated)

    • Consolidated net income of Waterstone Financial, Inc. totaled $3.0 million for the quarters ended March 31, 2025 and March 31, 2024.
    • Consolidated return on average assets (annualized) was 0.57% for the quarter ended March 31, 2025 and 0.56% for the quarter ended March 31, 2024.
    • Consolidated return on average equity (annualized) was 3.61% for the quarter ended March 31, 2025 and 3.56% for the quarter ended March 31, 2024.
    • Dividends declared during the quarter ended March 31, 2025 totaled $0.15 per common share.
    • During the quarter ended March 31, 2025, we repurchased approximately 237,000 shares at a cost (including the federal excise tax) of $3.2 million, or $13.37 per share.
    • Nonperforming assets as a percentage of total assets was 0.35% at March 31, 2025, 0.28% at December 31, 2024, and 0.23% at March 31, 2024.
    • Past due loans as a percentage of total loans was 0.67% at March 31, 2025, 0.95% at December 31, 2024, and 0.64% at March 31, 2024.
    • Book value per share was $17.70 at March 31, 2025 and $17.53 at December 31, 2024.

    Community Banking Segment

    • Pre-tax income totaled $6.1 million for the quarter ended March 31, 2025, which represents a $1.8 million, or 41.7%, increase compared to $4.3 million for the quarter ended March 31, 2024.
    • Net interest income totaled $12.4 million for the quarter ended March 31, 2025, which represents a $805,000, or 6.9%, increase compared to $11.6 million for the quarter ended March 31, 2024.
    • Average loans held for investment totaled $1.67 billion during the quarter ended March 31, 2025, which represents an increase of $10.7 million, or 0.6%, compared to $1.66 billion for the quarter ended March 31, 2024. The increase was primarily due to increases in the commercial real estate and multi-family mortgages. Average loans held for investment decreased $6.8 million compared to $1.68 billion for the quarter ended December 31, 2024. The decrease was primarily due to decreases in construction and multi-family mortgages.
    • Net interest margin increased 32 basis points to 2.47% for the quarter ended March 31, 2025 compared to 2.15% for the quarter ended March 31, 2024, which was primarily driven by an increase in weighted average yield on loans receivable and held for sale and decrease in cost of borrowings offset by an increase in weighted average cost of deposits. Net interest margin increased five basis points compared to 2.42% for the quarter ended December 31, 2024, primarily driven by decreases in weighted average cost of deposits and borrowings.
    • Past due loans at the community banking segment totaled $7.6 million at March 31, 2025, $12.8 million at December 31, 2024, and $8.1 million at March 31, 2024.
    • The segment had a negative provision for credit losses related to funded loans of $314,000 for the quarter ended March 31, 2025 compared to a provision for credit losses related to funded loans of $35,000 for the quarter ended March 31, 2024. The current quarter decrease was primarily due to decreases in historical loss rates and loan portfolio balances offset by an increase in the commercial real estate loan qualitative factors primarily related to increases in economic risks and internal asset quality risks. The negative provision for credit losses related to unfunded loan commitments was $204,000 for the quarter ended March 31, 2025 compared to a provision for credit losses related to unfunded loan commitments of $70,000 for the quarter ended March 31, 2024. The negative provision for credit losses related to unfunded loan commitments for the quarter ended March 31, 2025 was due primarily to a decrease in construction loans that are currently waiting to be funded compared to the prior quarter end and decrease in historical loss rates.
    • The efficiency ratio, a non-GAAP ratio, was 59.66% for the quarter ended March 31, 2025, compared to 65.17% for the quarter ended March 31, 2024.
    • Average core retail deposits (excluding brokered and escrow accounts) totaled $1.28 billion during the quarter ended March 31, 2025, an increase of $87.6 million, or 7.4%, compared to $1.19 billion during the quarter ended March 31, 2024. Average deposits increased $2.9 million, or 0.9% annualized, compared to $1.27 billion for the quarter ended December 31, 2024. The increases were primarily due to an increase in certificates of deposit balances. The segment had $84.1 million in brokered certificate of deposits at March 31, 2025.

    Mortgage Banking Segment

    • Pre-tax loss totaled $2.2 million for the quarter ended March 31, 2025, compared to a $369,000 of pre-tax income for the quarter ended March 31, 2024.
    • Loan originations decreased $97.4 million, or 20.1%, to $387.7 million during the quarter ended March 31, 2025, compared to $485.1 million during the quarter ended March 31, 2024. Origination volume relative to purchase activity accounted for 87.5% of originations for the quarter ended March 31, 2025 compared to 93.0% of total originations for the quarter ended March 31, 2024.
    • Mortgage banking non-interest income decreased $4.6 million, or 22.6%, to $15.7 million for the quarter ended March 31, 2025, compared to $20.3 million for the quarter ended March 31, 2024.
    • Gross margin on loans sold totaled 3.98% for the quarter ended March 31, 2025, compared to 4.10% for the quarter ended March 31, 2024.
    • Professional fees increased $853,000, or 164.0%, to $1.4 million for the quarter ended March 31, 2025, compared to $520,000 for the quarter ended March 31, 2024. The increase was primarily related to legal services and the finalization of a settlement related to a previously disclosed legal matter during the three months ended March 31, 2025. The Company maintained a $1.3 million accrual related to this legal matter as of December 31, 2024.
    • Total compensation, payroll taxes and other employee benefits decreased $2.7 million, or 18.3%, to $12.1 million during the quarter ended March 31, 2025 compared to $14.8 million during the quarter ended March 31, 2024. The decrease primarily related to decreased commission expense, branch manager pay, salary expense, and sign-on incentives driven by reduced employee headcount and a decrease in loan origination volumes and branch profitability.

    About Waterstone Financial, Inc.
    Waterstone Financial, Inc. is the savings and loan holding company for WaterStone Bank, a community-focused financial institution established in 1921. WaterStone Bank offers a comprehensive suite of personal and business banking products and operates 14 branch locations across southeastern Wisconsin. WaterStone Bank is also the parent company of WaterStone Mortgage Corporation, a national lender licensed in 48 states.

    With a long-standing commitment to innovation, integrity, and community service, Waterstone Financial, Inc. supports the financial and homeownership goals of customers nationwide.

    For more information about WaterStone Bank, visit wsbonline.com.

    Forward-Looking Statements

    This press release contains statements or information that may constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, without limitation, statements regarding expected financial and operating activities and results that are preceded by, followed by, or that include words such as “may,” “expects,” “anticipates,” “estimates” or “believes.” Any such statements are based upon current expectations that involve a number of risks and uncertainties and are subject to important factors that could cause actual results to differ materially from those anticipated by the forward-looking statements. Factors that might cause such a difference include changes in interest rates; demand for products and services; the degree of competition by traditional and nontraditional competitors; changes in banking regulation or actions by bank regulators; changes in tax laws; the impact of technological advances; governmental and regulatory policy changes; the outcomes of contingencies; trends in customer behavior as well as their ability to repay loans; changes in local real estate values; changes in the national and local economies; and other factors, including risk factors referenced in Item 1A. Risk Factors in Waterstone’s most recent Annual Report on Form 10-K and as may be described from time to time in Waterstone’s subsequent SEC filings, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect only Waterstone’s belief as of the date of this press release.

    Non-GAAP Financial Measures 

    Management uses non-GAAP financial information in its analysis of the Company’s performance. Management believes that this non-GAAP measure provides a greater understanding of ongoing operations and enhance comparability of results of operations with prior periods. The Company’s management believes that investors may use this non-GAAP measure to analyze the Company’s financial performance without the impact of unusual items or events that may obscure trends in the Company’s underlying performance. This non-GAAP data should be considered in addition to results prepared in accordance with GAAP, and is not a substitute for, or superior to, GAAP results. Limitations associated with non-GAAP financial measures include the risks that persons might disagree as to the appropriateness of items included in this measure and that different companies might calculate this measure differently. 

    Contact: Mark R. Gerke
    Chief Financial Officer
    414-459-4012
    markgerke@wsbonline.com

    WATERSTONE FINANCIAL, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)    		  
        For The Three Months Ended March 31,  
        2025     2024  
        (In Thousands, except per share amounts)  
    Interest income:                
    Loans   $ 25,078     $ 24,484  
    Mortgage-related securities     1,191       1,098  
    Debt securities, federal funds sold and short-term investments     1,486       1,323  
    Total interest income     27,755       26,905  
    Interest expense:                
    Deposits     11,332       8,970  
    Borrowings     3,847       6,798  
    Total interest expense     15,179       15,768  
    Net interest income     12,576       11,137  
    Provision (credit) for credit losses     (558 )     67  
    Net interest income after provision (credit) for loan losses     13,134       11,070  
    Noninterest income:                
    Service charges on loans and deposits     593       424  
    Increase in cash surrender value of life insurance     481       348  
    Mortgage banking income     15,728       20,068  
    Other     295       408  
    Total noninterest income     17,097       21,248  
    Noninterest expenses:                
    Compensation, payroll taxes, and other employee benefits     17,047       19,876  
    Occupancy, office furniture, and equipment     1,929       2,108  
    Advertising     723       914  
    Data processing     1,212       1,206  
    Communications     235       226  
    Professional fees     1,736       743  
    Real estate owned     (10 )     13  
    Loan processing expense     920       1,046  
    Other     2,558       1,418  
    Total noninterest expenses     26,350       27,550  
    Income before income taxes     3,881       4,768  
    Income tax expense     845       1,730  
    Net income   $ 3,036     $ 3,038  
    Income per share:                
    Basic   $ 0.17     $ 0.16  
    Diluted   $ 0.17     $ 0.16  
    Weighted average shares outstanding:                
    Basic     18,267       19,021  
    Diluted     18,280       19,036  
    WATERSTONE FINANCIAL, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION    		  
        March 31,     December 31,  
        2025     2024  
        (Unaudited)          
    Assets   (In Thousands, except per share amounts)  
    Cash   $ 37,459     $ 35,182  
    Federal funds sold     5,550       4,302  
    Interest-earning deposits in other financial institutions and other short term investments     280       277  
    Cash and cash equivalents     43,289       39,761  
    Securities available for sale (at fair value)     213,615       208,549  
    Loans held for sale (at fair value)     116,290       135,909  
    Loans receivable     1,663,519       1,680,576  
    Less: Allowance for credit losses (“ACL”) – loans     17,905       18,247  
    Loans receivable, net     1,645,614       1,662,329  
                     
    Office properties and equipment, net     19,223       19,389  
    Federal Home Loan Bank stock (at cost)     18,351       20,295  
    Cash surrender value of life insurance     75,093       74,612  
    Real estate owned, net     135       505  
    Prepaid expenses and other assets     43,757       48,259  
    Total assets   $ 2,175,367     $ 2,209,608  
                     
    Liabilities and Shareholders’ Equity                
    Liabilities:                
    Demand deposits   $ 170,183     $ 171,115  
    Money market and savings deposits     296,203       283,243  
    Time deposits     914,814       905,539  
    Total deposits     1,381,200       1,359,897  
                     
    Borrowings     395,853       446,519  
    Advance payments by borrowers for taxes     12,628       5,630  
    Other liabilities     44,326       58,427  
    Total liabilities     1,834,007       1,870,473  
                     
    Shareholders’ equity:                
    Preferred stock     –       –  
    Common stock     193       193  
    Additional paid-in capital     90,470       91,214  
    Retained earnings     277,521       277,196  
    Unearned ESOP shares     (10,386 )     (10,682 )
    Accumulated other comprehensive loss, net of taxes     (16,438 )     (18,786 )
    Total shareholders’ equity     341,360       339,135  
    Total liabilities and shareholders’ equity   $ 2,175,367     $ 2,209,608  
                     
    Share Information                
    Shares outstanding     19,281       19,343  
    Book value per share   $ 17.70     $ 17.53  
    WATERSTONE FINANCIAL, INC. AND SUBSIDIARIES
    SUMMARY OF KEY QUARTERLY FINANCIAL DATA
    (Unaudited)    		  
        At or For the Three Months Ended  
        March 31,     December 31,     September 30,     June 30,     March 31,  
        2025     2024     2024     2024     2024  
        (Dollars in Thousands, except per share amounts)  
    Condensed Results of Operations:                                        
    Net interest income   $ 12,576     $ 12,835     $ 11,517     $ 10,679     $ 11,137  
    Provision (credit) for credit losses     (558 )     367       (377 )     (225 )     67  
    Total noninterest income     17,097       19,005       22,552       26,497       21,248  
    Total noninterest expense     26,350       25,267       28,560       30,259       27,550  
    Income before income taxes     3,881       6,206       5,886       7,142       4,768  
    Income tax expense     845       996       1,158       1,430       1,730  
    Net income   $ 3,036     $ 5,210     $ 4,728     $ 5,712     $ 3,038  
    Income per share – basic   $ 0.17     $ 0.28     $ 0.26     $ 0.31     $ 0.16  
    Income per share – diluted   $ 0.17     $ 0.28     $ 0.26     $ 0.31     $ 0.16  
    Dividends declared per common share   $ 0.15     $ 0.15     $ 0.15     $ 0.15     $ 0.15  
                                             
    Performance Ratios (annualized):                                        
    Return on average assets – QTD     0.57 %     0.94 %     0.83 %     1.02 %     0.56 %
    Return on average equity – QTD     3.61 %     6.05 %     5.55 %     6.84 %     3.56 %
    Net interest margin – QTD     2.47 %     2.42 %     2.13 %     2.01 %     2.15 %
                                             
    Return on average assets – YTD     0.57 %     0.84 %     0.81 %     0.79 %     0.56 %
    Return on average equity – YTD     3.61 %     5.48 %     5.30 %     5.17 %     3.56 %
    Net interest margin – YTD     2.47 %     2.17 %     2.09 %     2.08 %     2.15 %
                                             
    Asset Quality Ratios:                                        
    Past due loans to total loans     0.67 %     0.95 %     0.63 %     0.76 %     0.64 %
    Nonaccrual loans to total loans     0.45 %     0.34 %     0.32 %     0.33 %     0.29 %
    Nonperforming assets to total assets     0.35 %     0.28 %     0.25 %     0.25 %     0.23 %
    Allowance for credit losses – loans to loans receivable     1.08 %     1.09 %     1.07 %     1.10 %     1.10 %
    WATERSTONE FINANCIAL, INC. AND SUBSIDIARIES
    SUMMARY OF QUARTERLY AVERAGE BALANCES AND YIELD/COSTS
    (Unaudited)    		  
        At or For the Three Months Ended  
        March 31,     December 31,     September 30,     June 30,     March 31,  
        2025     2024     2024     2024     2024  
    Average balances   (Dollars in Thousands)  
    Interest-earning assets                                        
    Loans receivable and held for sale   $ 1,768,617     $ 1,819,574     $ 1,870,627     $ 1,859,608     $ 1,805,102  
    Mortgage related securities     170,947       168,521       170,221       171,895       172,077  
    Debt securities, federal funds sold and short term investments     123,004       124,658       115,270       107,992       110,431  
    Total interest-earning assets     2,062,568       2,112,753       2,156,118       2,139,495       2,087,610  
    Noninterest-earning assets     105,030       100,627       104,600       104,019       103,815  
    Total assets   $ 2,167,598     $ 2,213,380     $ 2,260,718     $ 2,243,514     $ 2,191,425  
                                             
    Interest-bearing liabilities                                        
    Demand accounts   $ 87,393     $ 92,247     $ 89,334     $ 91,300     $ 87,393  
    Money market, savings, and escrow accounts     300,686       306,478       304,116       293,483       281,171  
    Certificates of deposit – retail     818,612       810,340       786,228       758,252       739,543  
    Certificates of deposit – brokered     97,101       59,254       –       –       –  
    Total interest-bearing deposits     1,303,792       1,268,319       1,179,678       1,143,035       1,108,107  
    Borrowings     397,053       464,964       600,570       622,771       602,724  
    Total interest-bearing liabilities     1,700,845       1,733,283       1,780,248       1,765,806       1,710,831  
    Noninterest-bearing demand deposits     80,372       87,889       91,532       93,637       92,129  
    Noninterest-bearing liabilities     44,905       49,645       49,787       48,315       45,484  
    Total liabilities     1,826,122       1,870,817       1,921,567       1,907,758       1,848,444  
    Equity     341,476       342,563       339,151       335,756       342,981  
    Total liabilities and equity   $ 2,167,598     $ 2,213,380     $ 2,260,718     $ 2,243,514     $ 2,191,425  
                                             
    Average Yield/Costs (annualized)                                        
    Loans receivable and held for sale     5.75 %     5.75 %     5.65 %     5.54 %     5.46 %
    Mortgage related securities     2.83 %     2.67 %     2.66 %     2.63 %     2.57 %
    Debt securities, federal funds sold and short term investments     4.90 %     4.85 %     5.05 %     4.82 %     4.82 %
    Total interest-earning assets     5.46 %     5.46 %     5.39 %     5.27 %     5.18 %
                                             
    Demand accounts     0.11 %     0.11 %     0.11 %     0.11 %     0.11 %
    Money market and savings accounts     2.10 %     2.00 %     1.94 %     1.89 %     1.79 %
    Certificates of deposit – retail     4.33 %     4.53 %     4.54 %     4.41 %     4.19 %
    Certificates of deposit – brokered     4.18 %     4.18 %     0.00 %     0.00 %     0.00 %
    Total interest-bearing deposits     3.52 %     3.58 %     3.53 %     3.42 %     3.26 %
    Borrowings     3.93 %     4.11 %     4.77 %     4.92 %     4.54 %
    Total interest-bearing liabilities     3.62 %     3.72 %     3.95 %     3.95 %     3.71 %
    COMMUNITY BANKING SEGMENT
    SUMMARY OF KEY QUARTERLY FINANCIAL DATA
    (Unaudited)    		  
        At or For the Three Months Ended  
        March 31,     December 31,     September 30,     June 30,     March 31,  
        2025     2024     2024     2024     2024  
        (Dollars in Thousands)  
    Condensed Results of Operations:                                        
    Net interest income   $ 12,403     $ 12,886     $ 12,250     $ 11,234     $ 11,598  
    Provision (credit) for credit losses     (518 )     331       (302 )     (279 )     105  
    Total noninterest income     1,348       1,595       1,227       1,491       990  
    Noninterest expenses:                                        
    Compensation, payroll taxes, and other employee benefits     5,212       4,883       5,326       5,116       5,360  
    Occupancy, office furniture and equipment     1,076       825       904       983       1,000  
    Advertising     171       204       311       229       174  
    Data processing     712       691       720       687       693  
    Communications     100       89       80       72       65  
    Professional fees     347       196       190       177       208  
    Real estate owned     (10 )     12       –       1       13  
    Loan processing expense     –       –       –       –       –  
    Other     596       563       602       672       691  
    Total noninterest expense     8,204       7,463       8,133       7,937       8,204  
    Income before income taxes     6,065       6,687       5,646       5,067       4,279  
    Income tax expense     1,427       1,399       941       718       1,639  
    Net income   $ 4,638     $ 5,288     $ 4,705     $ 4,349     $ 2,640  
                                             
    Efficiency ratio – QTD (non-GAAP)     59.66 %     51.54 %     60.35 %     62.37 %     65.17 %
    Efficiency ratio – YTD (non-GAAP)     59.66 %     59.58 %     62.58 %     63.77 %     65.17 %
    MORTGAGE BANKING SEGMENT
    SUMMARY OF KEY QUARTERLY FINANCIAL DATA
    (Unaudited)    		  
        At or For the Three Months Ended  
        March 31,     December 31,     September 30,     June 30,     March 31,  
        2025     2024     2024     2024     2024  
        (Dollars in Thousands)  
    Condensed Results of Operations:                                        
    Net interest income (loss)   $ 152     $ (92 )   $ (760 )   $ (552 )   $ (541 )
    Provision (credit) for credit losses     (40 )     36       (75 )     54       (38 )
    Total noninterest income     15,731       17,455       21,386       25,081       20,328  
    Noninterest expenses:                                        
    Compensation, payroll taxes, and other employee benefits     12,054       13,781       15,930       16,886       14,756  
    Occupancy, office furniture and equipment     853       754       953       1,046       1,108  
    Advertising     552       523       615       758       740  
    Data processing     498       542       570       549       508  
    Communications     135       135       152       168       161  
    Professional fees     1,373       917       379       569       520  
    Real estate owned     –       –       –       –       –  
    Loan processing expense     920       486       697       861       1,046  
    Other     1,751       814       1,261       1,641       617  
    Total noninterest expense     18,136       17,952       20,557       22,478       19,456  
    (Loss) income before income taxes (benefit) expense     (2,213 )     (625 )     144       1,997       369  
    Income tax (benefit) expense     (588 )     (428 )     194       684       71  
    Net (loss) income   $ (1,625 )   $ (197 )   $ (50 )   $ 1,313     $ 298  
                                             
    Efficiency ratio – QTD (non-GAAP)     114.18 %     103.39 %     99.67 %     91.64 %     98.33 %
    Efficiency ratio – YTD (non-GAAP)     114.18 %     97.74 %     96.23 %     94.62 %     98.33 %
                                             
    Loan originations   $ 387,729     $ 470,650     $ 558,729     $ 634,109     $ 485,109  
    Purchase     87.5 %     82.1 %     88.9 %     92.7 %     93.0 %
    Refinance     12.5 %     17.9 %     11.1 %     7.3 %     7.0 %
    Gross margin on loans sold(1)     3.98 %     3.74 %     3.83 %     3.93 %     4.10 %

    (1) Gross margin on loans sold equals mortgage banking income (excluding the change in interest rate lock value) divided by total loan originations

    The MIL Network –

  • MIL-OSI: ShoulderUp Technology Acquisition Corp. Announces Proposed $7 Million PIPE and ELOC

    Source: GlobeNewswire (MIL-OSI)

    Kennesaw, GA, April 22, 2025 (GLOBE NEWSWIRE) — ShoulderUp Technology Acquisition Corp. (“ShoulderUp” or the “Company”)  announced that in connection with its pending business combination with SEE ID, Inc. (“SEE ID”), ShoulderUp and SEE ID, subject to market and other conditions, intend to pursue various financing alternatives, which may include offering up to $7 million in aggregate principal amount of shares of common stock of ShoulderUp and/or SEE ID, in a private offering that is exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), and/or a potential equity line of credit (“ELOC”).

    The net proceeds of the offering and/or the ELOC will be used to satisfy the conditions to the closing of the business combination and to fund ongoing operations of the combined company.

    The securities to be offered have not been registered under the Securities Act, or any state securities laws. Unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. SEE ID plans to offer and sell the securities only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.

    This press release is being issued pursuant to Rule 135c under the Securities Act, and is neither an offer to sell nor a solicitation of an offer to buy common stock or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, common stock or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.

    About ShoulderUp

    ShoulderUp is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase reorganization or similar business combination with one or more businesses or entities.
      
    No Offer or Solicitation

    This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
      
    ShoulderUp Contact:

    ShoulderUp Technology Acquisition Corp, 125 Townpark Drive, Suite 300, Kennesaw, GA 30144, (650) 276-7040.

    The MIL Network –