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Category: GlobeNewswire

  • MIL-OSI: Natural Gas Services Group Announces Expansion of Credit Facility

    Source: GlobeNewswire (MIL-OSI)

    Midland, Texas, April 22, 2025 (GLOBE NEWSWIRE) — Natural Gas Services Group, Inc. (“NGS” or the “Company”), a premier provider of natural gas compression equipment, technology, and services to the energy industry, announced today it has closed on a $100 million expansion of its existing credit facility (the “Facility”), bringing the total commitments to $400 million with an enlarged accordion of $100 million. The expanded Facility enhances the Company’s financial flexibility and provides additional capital to support ongoing fleet growth, particularly in its large horsepower and electric drive rental compression units.

    “We are pleased to announce the expansion and amendment of our credit facility, particularly considering recent financial market volatility and general economic uncertainty. This additional capital supports continued investment in our large horsepower and electric drive rental equipment fleet as we continue to drive organic growth and market share gains while improving our customer experience. Additionally, the amended Facility provides improved economics and terms, including a 50 to 75 basis point reduction in interest rates at comparable leverage levels and a more flexible leverage covenant beginning mid-2026.”

    Mr. Jacobs continued, “On behalf of the entire Company, I want to thank our lenders, both existing and new. The amendment of our Facility, especially given markets conditions, reflects the confidence our lending partners have in our business and our future prospects. We remain focused on executing our strategic plan and driving value for all stakeholders. We look forward to reporting our first quarter 2025 results next month.”

    The amendment was effective as of April 18, 2025.

    About Natural Gas Services Group, Inc. (NGS)
    Natural Gas NGS is a leading provider of natural gas compression equipment, technology, and services to the energy industry.  The Company rents, operates and maintains natural gas compressors for oil and gas production and processing facilities. In addition, the Company designs and assembles compressor units for rental to its customers and provides aftermarket services in the form of call-out services on customer-owned equipment as well as commissioning of new units for customers. NGS  is headquartered in Midland, Texas, with a fabrication facility located in Tulsa, Oklahoma, a rebuild shop located in Midland, Texas, and service facilities located in major oil and natural gas producing basins in the U.S. Additional information can be found at www.ngsgi.com.

    For More Information, Contact:
    Anna Delgado, Investor Relations
    (432) 262-2700

    ir@ngsgi.com www.ngsgi.com

    The MIL Network –

  • MIL-OSI: Parallels’ Survey Reveals Midsize Companies Lead EUC Market Shift: 63% Seek New VDI or DaaS Solutions, 94% Plan Implementation Within a Year

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, April 22, 2025 (GLOBE NEWSWIRE) — Parallels, a global leader in virtualization and end-user computing (EUC) solutions, today released findings from its 2025 State of Cloud Computing Survey, revealing a major shift in the EUC market driven by *midsize organizations. Faced with rising costs and the complexities of legacy virtual desktop infrastructure (VDI), 63% of midsize companies are actively exploring new VDI or Desktop-as-a-Service (DaaS) providers, and 94% plan to implement a new solution within the next 12 months.

    “Mid-market companies are facing growing IT demands without enterprise-level budgets,” said Prashant Ketkar, Chief Technology & Product Officer at Parallels. “They’re under pressure to streamline operations, from application delivery and cloud management to VDI support—while also strengthening cybersecurity and enabling remote work. This is forcing organizations to reevaluate their application delivery infrastructure strategies in favor of more cost-effective, secure, and flexible solution.”

    Top Challenges with Current VDI Solutions

    The survey asked mid-market IT leaders to rank the most pressing challenges they face with their current VDI solutions. The results point to a clear trend: complexity, cost, and manageability remain major pain points. Respondents ranked the following issues as their top concerns, with 1 being the most critical:

    1. Requires too many IT resources
    2. Lack of centralized control
    3. Too expensive
    4. Too complex
    5. Unreliable/performance issues

    As organizations seek to address these challenges, several key factors are influencing their decisions to change their IT strategies.

    Key Drivers Behind Shifting IT Strategies

    As the VDI market continues to experience disruption, mid-market organizations are reevaluating their IT strategies to better align with their current and future needs. When asked about the leading factors influencing potential change, survey respondents cited the following:

    • Rising costs – 43%
    • Concern over future support – 26%
    • Lack of integration – 18%
    • Uncertain product roadmaps – 13%
    • Other – 1%

    These insights point to a growing demand for solutions that reduce operational overhead while offering long-term stability and seamless integration. IT leaders are not only looking for ways to cut costs, but they’re also seeking trusted partners with clear product direction and the ability to support evolving infrastructure strategies.

    According to Gartner®, “Vendors push for organizations to embrace 100% cloud deployment, but most MSEs continue to find benefits in a hybrid approach that balances both on-premises and cloud advantages. MSE CIOs or the most senior IT leaders report that, on average, 40% of their applications and infrastructure remain on-premises.” This underscores the importance of flexible solutions that can support both cloud and on-premises deployments, allowing businesses to modernize at their own pace, without sacrificing performance, control, or budget.

    Cybersecurity Budgets on the Rise

    With cybersecurity threats continuing to evolve, mid-market organizations are prioritizing stronger defenses in their IT strategies. According to the survey, an overwhelming majority – nine out of 10 – plan to boost their cybersecurity investments in 2025:

    • 41% reported their cybersecurity budget is increasing significantly
    • 48% said it’s increasing moderately
    • Only 9% plan to maintain current spending levels, and just 1% anticipate a decrease

    These results underscore how critical cybersecurity has become, not just as a protective measure, but as a foundational element of digital transformation and business resilience.

    “What we’re hearing from IT leaders is a desire for choice, security & simplicity without compromise—solutions that are easy to deploy, run & manage,” said Ketkar. “At Parallels, we’re focused on delivering powerful, streamlined application delivery & infrastructure solutions that help midsize businesses stay agile, reduce costs, and modernize at their own pace.”

    Survey Methodology

    Parallels’ 2025 State of Cloud Computing Survey was conducted in December 2024 with data from 600 IT professionals across the United States, the United Kingdom, Canada, Japan, and the European Union about their cloud journeys to discover what’s working, what isn’t, and what’s next. To see the full results of the study, click here.

    *Note: Mid-size companies are defined as those with 300 to 1,000 employees.

    Gartner Attribution

    Gartner, Midsize Enterprises Optimize Cloud and On-Premises Strategies, By Mike Cisek, Megha Bawa, 30 October 2024.

    GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

    About Parallels

    Parallels is a global leading brand in cross-platform solutions that make it simple for businesses and individuals to use and access the applications and files they need on any device or operating system. Parallels helps customers leverage the best technology out there, whether it’s Windows, Mac, Chrome OS, iOS, Android, or the cloud. Parallels solves complex engineering and user-experience problems by making it simple and cost-effective for businesses and individual customers to use applications anywhere, anytime. Parallels is part of the Alludo™ portfolio. For more information, please visit www.parallels.com.

    © 2025 Parallels International GmbH. All rights reserved. Parallels is a trademark or registered trademark of Parallels International GmbH. in Canada, the United States and/or elsewhere. Mac is a trademark of Apple Inc. Android and ChromeOS are trademarks of Google LLC. All other company, product and service names, logos, brands and any registered or unregistered trademarks mentioned are used for identification purposes only and remain the exclusive property of their respective owners. For all notices and legal information please visit www.parallels.com/about/legal/.

    Ashley Ruess
    ashley.ruess@alludo.com

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/35459dc5-1e10-4e50-9abc-ed2b7f7095c6

    https://www.globenewswire.com/NewsRoom/AttachmentNg/2349b4ed-a6f7-4a0c-b396-738053f19f6c

    https://www.globenewswire.com/NewsRoom/AttachmentNg/94d70f23-d073-4575-ae86-0d01cb1af7b2

    https://www.globenewswire.com/NewsRoom/AttachmentNg/47116ec4-5d36-49c0-8f76-c2f03f90f41e

    https://www.globenewswire.com/NewsRoom/AttachmentNg/9776da51-f483-45e1-ad4a-f077bebd426c

    The MIL Network –

  • MIL-OSI: Juniata Valley Financial Corp. Announces Results for the Quarter Ended March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    Mifflintown, PA, April 22, 2025 (GLOBE NEWSWIRE) —  Juniata Valley Financial Corp. (OTCQX:JUVF) (“Juniata”), announced net income for the three months ended March 31, 2025 of $2.0 million, an increase of 48.2%, compared to net income of $1.4 million for the three months ended March 31, 2024. Earnings per share, basic and diluted, for the three months ended March 31, 2025 was $0.40 compared to $0.27 reported for the three months ended March 31, 2024.

    President’s Message

    President and Chief Executive Officer, Marcie A. Barber stated, “We are pleased to announce first quarter net income of $2.0 million which represents a nearly 50% increase over the same quarter last year. This improvement is due in part to disciplined loan and deposit pricing which resulted in the reversal of a two-year trend of net interest margin compression. Additionally, our continued efforts to increase fee income and improve efficiency resulted in a 3.9% increase in noninterest income and a 9.2% decrease in noninterest expense. Our credit quality remains strong with nonperforming loans totaling 0.1% of the total loan portfolio and delinquent and nonperforming loans comprising 0.4%. Our focus for the remainder of 2025 is to accelerate loan growth, especially in the State College and Harrisburg regions, while maintaining our excellent credit quality. We also intended to actively communicate with and provide customized service to our customers due to the current economic uncertainty, continue the improvements in fee generation and the containment of operating expenses, while exploring opportunities for expansion.”

    Financial Results for the Quarter

    Annualized return on average assets for the three months ended March 31, 2025 was 0.94%, compared to 0.63% for the three months ended March 31, 2024. Annualized return on average equity for the three months ended March 31, 2025 was 16.55%, compared to 13.38% for the three months ended March 31, 2024.

    Net interest income increased by 5.1%, to $5.8 million for the three months ended March 31, 2025 compared to $5.5 million for the three months ended March 31, 2024. Average interest earning assets decreased 1.7%, to $842.6 million, for the three months ended March 31, 2025 compared to the same period in 2024, due to a decrease of $18.2 million, or 5.7%, in average investment securities as principal paydowns on the mortgage-backed securities portfolio were used for funding needs rather than being reinvested into the securities portfolio. Average interest bearing liabilities decreased by $16.1 million, or 2.6%, for the three months ended March 31, 2025 compared to the three months ended March 31, 2024. This decrease was primarily due to a decline of $23.9 million, or 29.9%, in average borrowings and other interest bearing liabilities, which was partially offset by an increase in average time deposits of $17.3 million, or 8.7%, for the three months end March 31, 2025 compared to the three months ended March 31, 2024.

    The yield on earning assets increased 19 basis points, to 4.42%, for the three months ended March 31, 2025 compared to same period last year driven by an increase in loan yields of 24 basis points, while the cost to fund interest earning assets with interest bearing liabilities increased two basis points, to 2.26%, aided by the 100 basis point decline in the federal funds rate between the three months ended March 31, 2025 and 2024. The net interest margin, on a fully tax equivalent basis, increased from 2.63% for the three months ended March 31, 2024 to 2.83% for the three months ended March 31, 2025.

    Juniata recorded a credit loss expense of $104,000 for the three months ended March 31, 2025 compared to a credit loss expense of $120,000 for the three months ended March 31, 2024.

    Non-interest income was $1.3 million for both the three months ended March 31, 2025 and March 31, 2024. Most significantly impacting non-interest income in the comparative three month periods were increases of $89,000 in customer service fees due to an increase in the collection of overdraft and checking account fees, as well as $24,000 in trust fees. Partially offsetting these increases between the comparative three month periods was a decline of $56,000 in fees derived from loan activity due to decreases in title insurance commissions, a derivative credit adjustment and loan referral fees in the 2025 period.

    Non-interest expense was $4.7 million for the three months ended March 31, 2025 compared to $5.2 million for the three months ended March 31, 2024, a decrease of 9.2%. Most significantly impacting non-interest expense in the comparative three month periods were decreases in employee compensation and benefits expenses of $233,000 and $99,000, respectively. The primary drivers for these declines were decreases in employee compensation expenses compared to the 2024 period, with the 2024 expenses being elevated due to overtime pay from the core conversion and optimizing staffing levels, and employee benefits expense due to a decrease in medical claims expenses for the three months ended March 31, 2025 compared to the three months ended March 31, 2024. Also contributing to the decrease in non-interest expense between the comparative three month periods were decreases of $48,000 in professional fees and $34,000 in the provision for unfunded commitments recorded in other non-interest expense. Partially offsetting these decreases for the three months ended March 31, 2025 compared to the three months ended March 31, 2024 was an increase of $74,000 in equipment expense primarily due to an increase in depreciation and ATM expenses attributable to the core conversion in March 2024.

    An income tax provision of $371,000 was recorded for the three months ended March 31, 2025 compared to $201,000 recorded for the three months ended March 31, 2024. The increase between the comparative three month periods was primarily due to more taxable income recorded in the 2025 period. Juniata qualifies for a federal tax credit for investments in low-income housing partnerships. The tax credit was $82,000 for both the three months ended March 31, 2025 and March 31, 2024.

    Financial Condition

    Total assets as of March 31, 2025 were $854.0 million, an increase of $5.1 million compared to total assets of $848.9 million as of December 31, 2024. Cash and cash equivalents increased $2.5 million, or 22.8%, while total loans increased by $5.1 million, or 1.0%, as of March 31, 2025 compared to December 31, 2024. Total deposits increased by $728,000, or 0.1%, as of March 31, 2025 compared to December 31, 2024, while short-term borrowings and repurchase agreements increased by $1.8 million, or 4.4%, primarily due to increased balances in repurchase agreement accounts. At March 31, 2025, total capital increased $2.7 million, or 5.8%, compared to year-end 2024 due to an increase in retained earnings and a decline in other comprehensive losses.

    Juniata maintains a strong liquidity position and, as of March 31, 2025, had additional borrowing capacity with the Federal Home Loan Bank of Pittsburgh of $213.3 million and with the Federal Reserve’s Discount Window of $51.2 million. In addition, Juniata has internal authorization for brokered deposits of up to $175.0 million. Juniata had no brokered deposits outstanding as of March 31, 2025.

    Subsequent Event

    On April 15, 2025, the Board of Directors declared a cash dividend of $0.22 per share to shareholders of record on May 16, 2025, payable on May 30, 2025.

    Management considers subsequent events occurring after the statement of condition date for matters which may require adjustment to, or disclosure in, the consolidated financial statements. The review period for subsequent events extends up to and including the filing date of a public company’s consolidated financial statements with the Securities and Exchange Commission. Accordingly, the financial information in this release is subject to change.

    The Juniata Valley Bank, the principal subsidiary of Juniata Valley Financial Corp., is headquartered in Mifflintown, Pennsylvania, with fourteen community offices located in Juniata, Mifflin, Perry, Franklin, McKean and Potter Counties. More information regarding Juniata Valley Financial Corp. and The Juniata Valley Bank can be found online at www.JVBonline.com. Juniata Valley Financial Corp. trades through the OTCQX Best Market under the symbol JUVF.

    Forward-Looking Information
    *This press release may contain “forward looking” information as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the current views of Juniata’s management with respect to, among other things, future events and Juniata’s financial performance. When words such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,” “forecast,” “goal,” “target,” “would” and “outlook,” or the negative variations of those words or similar expressions are used in this release, Juniata is making forward-looking statements. Such information is based on Juniata’s current expectations, estimates and projections about future events and financial trends affecting the financial condition of its business, many of which, by their nature, are inherently uncertain and beyond the control of Juniata. These statements are not historical facts or guarantees of future performance, events or results and are subject to risks, assumptions and uncertainties that are difficult to predict. If one or more events related to these or other risks or uncertainties materializes, or if underlying assumptions prove to be incorrect, actual results may differ materially from this forward-looking information. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and many factors could affect future financial results. Juniata undertakes no obligation to publicly update or revise forward looking information, whether because of new or updated information, future events, or otherwise. For a more complete discussion of certain risks and uncertainties affecting Juniata, please see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Forward-Looking Statements” set forth in the Juniata’s filings with the Securities and Exchange Commission.

    Financial Statements

    Juniata Valley Financial Corp. and Subsidiary
    Consolidated Statements of Financial Condition

                 
    (Dollars in thousands, except share data)      (Unaudited)       
        March 31, 2025   December 31, 2024
    ASSETS            
    Cash and due from banks   $ 5,145     $ 5,064  
    Interest bearing deposits with banks     8,364       5,934  
    Cash and cash equivalents     13,509       10,998  
                 
    Equity securities     1,114       1,189  
    Debt securities available for sale     64,772       64,623  
    Debt securities held to maturity (fair value $184,898 and $182,773, respectively)     189,634       191,627  
    Restricted investment in bank stock     2,674       2,530  
    Total loans     538,971       533,869  
    Less: Allowance for credit losses     (6,278 )     (6,183 )
    Total loans, net of allowance for credit losses     532,693       527,686  
    Premises and equipment, net     9,323       9,382  
    Bank owned life insurance and annuities     15,273       15,214  
    Investment in low income housing partnerships     751       832  
    Core deposit and other intangible assets     240       258  
    Goodwill     9,812       9,812  
    Mortgage servicing rights     68       69  
    Deferred tax asset, net     9,320       9,842  
    Accrued interest receivable and other assets     4,824       4,812  
    Total assets   $ 854,007     $ 848,874  
    LIABILITIES AND STOCKHOLDERS’ EQUITY              
    Liabilities:              
    Deposits:              
    Non-interest bearing   $ 198,753     $ 196,801  
    Interest bearing     549,932       551,156  
    Total deposits     748,685       747,957  
                 
    Short-term borrowings and repurchase agreements     44,082       42,242  
    Long-term debt     5,000       5,000  
    Other interest bearing liabilities     769       830  
    Accrued interest payable and other liabilities     5,275       5,388  
    Total liabilities     803,811       801,417  
    Commitments and contingent liabilities            
    Stockholders’ Equity:              
    Preferred stock, no par value: Authorized – 500,000 shares, none issued     —       —  
    Common stock, par value $1.00 per share: Authorized 20,000,000 shares; Issued – 5,151,279 shares at March 31, 2025 and December 31, 2024; Outstanding – 5,016,727 shares at March 31, 2025 and 5,003,384 shares at December 31, 2024     5,151       5,151  
    Surplus     24,712       24,896  
    Retained earnings     54,034       53,126  
    Accumulated other comprehensive loss     (31,522 )     (33,320 )
    Cost of common stock in Treasury: 134,552 shares at March 31, 2025; 147,895 shares at December 31, 2024     (2,179 )     (2,396 )
    Total stockholders’ equity     50,196       47,457  
    Total liabilities and stockholders’ equity   $ 854,007     $ 848,874  

    Juniata Valley Financial Corp. and Subsidiary
    Consolidated Statements of Income (Unaudited)

                 
        Three Months Ended
    (Dollars in thousands, except share and per share data)   March 31, 
           2025        2024  
    Interest income:        
    Loans, including fees   $ 7,781     $ 7,467  
    Taxable securities     1,365       1,465  
    Tax-exempt securities     30       30  
    Other interest income     17       43  
    Total interest income     9,193       9,005  
    Interest expense:              
    Deposits     2,803       2,642  
    Short-term borrowings and repurchase agreements     531       698  
    Long-term debt     30       117  
    Other interest bearing liabilities     7       9  
    Total interest expense     3,371       3,466  
    Net interest income     5,822       5,539  
    Provision for credit losses     104       120  
    Net interest income after provision for credit losses     5,718       5,419  
    Non-interest income:              
    Customer service fees     460       371  
    Debit card fee income     422       404  
    Earnings on bank-owned life insurance and annuities     57       56  
    Trust fees     131       107  
    Commissions from sales of non-deposit products     101       102  
    Fees derived from loan activity     115       171  
    Change in value of equity securities     (28 )     (13 )
    Gain from life insurance proceeds     —       —  
    Other non-interest income     88       98  
    Total non-interest income     1,346       1,296  
    Non-interest expense:              
    Employee compensation expense     1,975       2,208  
    Employee benefits     546       645  
    Occupancy     366       332  
    Equipment     217       143  
    Data processing expense     629       663  
    Professional fees     206       254  
    Taxes, other than income     31       56  
    FDIC Insurance premiums     135       155  
    Gain on other real estate owned     —       —  
    Amortization of intangible assets     18       22  
    Amortization of investment in low-income housing partnerships     81       81  
    Merger and acquisition expense     —       —  
    Other non-interest expense     481       600  
    Total non-interest expense     4,685       5,159  
    Income before income taxes     2,379       1,556  
    Income tax provision     371       201  
    Net income   $ 2,008     $ 1,355  
    Earnings per share              
    Basic   $ 0.40     $ 0.27  
    Diluted   $ 0.40     $ 0.27  

    The MIL Network –

  • MIL-OSI: illumin Holdings Inc. Announces Date for First Quarter 2025 Financial and Operating Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO and NEW YORK, April 22, 2025 (GLOBE NEWSWIRE) — illumin Holdings Inc. (TSX: ILLM, OTCQB: ILLMF) (“illumin” or “Company”), a leader in digital advertising technology that empowers marketers to make smarter decisions about communicating with online consumers, announces that it will report its first quarter 2025 financial results before market open on Friday, May 9, 2025.

    Investors and analysts are invited to join a live webcast on Friday, May 9, 2025, at 8:30 AM ET, where CEO, Simon Cairns and CFO, Elliot Muchnik will discuss illumin’s First Quarter 2025 results, followed by a question-and-answer session.

    Conference Call Details:

    To register for the conference call webcast and presentation, please visit: https://events.illumin.com/q1-2025-earnings-call

    Please connect at least 15 minutes prior, to ensure time for any software download that may be needed to hear the webcast.

    A recording of the conference call webcast will be available after the call by visiting the Company’s website at https://illumin.com/investor-information/.

    About illumin:

    illumin is evolving the digital advertising landscape by empowering marketers to achieve transformative results through its customer-centric approach. Featuring a unified canvas built around the open web, illumin lets brands and agencies seamlessly plan, build, and execute campaigns across the entire marketing funnel—connecting programmatic channels, email, and social media within a single platform. Headquartered in Toronto, Canada, illumin serves clients across North America, Latin America, and Europe. For more information, visit illumin.com.

    For further information, please contact.

    Steve Hosein David Hanover
    Investor relations  Investor Relations – U.S.
    illumin Holdings Inc. KCSA Strategic Communications
    416-218-9888 x5313 212-896-1220
    investors@illumin.com dhanover@kcsa.com
       

    Disclaimer regarding Forward-looking Statements

    Certain statements included herein constitute “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies.  Investors are cautioned not to put undue reliance on forward-looking statements.  Except as required by law, the Company does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.

    The MIL Network –

  • MIL-OSI: Primech AI Showcases HYTRON Cleaning Technology at Global Innovation Summit 2025 in Germany

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, April 22, 2025 (GLOBE NEWSWIRE) — Primech AI Pte. Ltd. (“Primech AI” or the “Company”), a subsidiary of Primech Holdings Limited (Nasdaq: PMEC), recently participated in the prestigious Global Innovation Summit (GIS) 2025 held at HANNOVER MESSE in Hannover, Germany on April 1-2, 2025. The Company was invited by Enterprise Singapore to join a select group of innovative Singaporean companies representing the nation’s technological capabilities on the global stage.

    Picture 1: Charles Ng, Chief Operating Officer of Primech Ai presenting at the Global Innovation Summit

    The Global Innovation Summit, one of the world’s premier platforms for industrial technology innovation, provided Primech AI with the opportunity to showcase its groundbreaking HYTRON, AI-powered autonomous bathroom cleaning robots to an international audience of industry leaders, potential partners, and investors.

    “Our participation at the Global Innovation Summit represents a significant milestone in our international expansion strategy,” said Mr. Charles Ng, Chief Operating Officer of Primech AI. “Being invited by Enterprise Singapore to represent Singapore’s innovation ecosystem at such a prestigious global event validates our technological achievements and opens doors to potential collaborations across European markets.”

    During the two-day summit, the Primech AI team presented its innovation pitch focused on the HYTRON, AI-powered autonomous bathroom cleaning robot technology, highlighting its advanced AI capabilities, 3D-cleaning functionality, and the use of electrolyzed water for enhanced sanitation. The presentation demonstrated how Primech AI’s solutions address critical challenges in the facility services industry, including labor shortages, increasing hygiene standards, and sustainability requirements.

    A key enabler behind HYTRON’s performance is the NVIDIA Jetson Orin Nano Super, a cutting-edge System-on-Module (SoM) designed for robust edge AI and robotics applications. By integrating NVIDIA’s advanced hardware and software technologies—including CUDA, TensorRT, cuDNN, and the NVIDIA Driver—Primech AI has significantly boosted HYTRON’s real-time data processing capabilities, enabling greater autonomy, precision, and responsiveness in demanding cleaning environments.

    The Company engaged with numerous potential partners and customers from various sectors, including commercial property management, healthcare, hospitality, and public transportation, exploring opportunities to implement its autonomous cleaning solutions across European markets.

    The Global Innovation Summit served as a platform for Primech AI to connect with international technology partners, distributors, and end-users interested in next-generation cleaning solutions. These engagements have already resulted in several promising partnership discussions that could accelerate the Company’s European market entry strategy.

    “The response to our technology at HANNOVER MESSE exceeded our expectations,” said Mr. Kin Wai Ho, Chief Executive Officer of Primech Holdings. “We identified significant interest from European facility management companies seeking to integrate autonomous cleaning solutions into their operations. The connections made at this event will be instrumental in our international growth plans.”

    About the Global Innovation Summit 2025
    The Global Innovation Summit is Eureka’s flagship event organised as part of HANNOVER MESSE, the world’s leading trade fair for industrial technology. The summit brings innovators, industry leaders, policymakers, and investors together to explore emerging technologies and foster international collaborations. The 2025 edition focused on sustainable industrial solutions, AI applications, and automation technologies transforming traditional industries.

    About Primech AI
    Primech AI is a leading robotics company dedicated to pushing the boundaries of innovation in technology. With a team of passionate individuals and a commitment to collaboration, Primech AI is poised to revolutionize the robotics industry with groundbreaking solutions that make a meaningful impact on society. For more information, visit www.primech.ai.

    About Primech Holdings Limited
    Headquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore. Primech Holdings offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Known for its commitment to sustainability and cutting-edge technology, Primech Holdings integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.     

    Forward-Looking Statements
    Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

    Company Contact:
    Email: ir@primech.com.sg

    Investor Relations Contact:
    Matthew Abenante, IRC
    President
    Strategic Investor Relations, LLC
    Tel: 347-947-2093
    Email: matthew@strategic-ir.com

    The MIL Network –

  • MIL-OSI: Prosafe SE: Operational update – March 2025

    Source: GlobeNewswire (MIL-OSI)

    22 April – Fleet utilisation for March 2025 was 52 per cent.   

    Safe Zephyrus operated at full capacity during March, achieving 100 per commercial uptime.  

    Safe Notos and Safe Eurus, both had 99 per cent commercial uptime in March.  

    Safe Concordia operated at full capacity on the days she was in operation. The vessel was transferred to the new owner on March 13, 2025. 

    Safe Caledonia has commenced reactivation activities in Scapa Flow, UK, and will mobilise to the Captain Field, UK, by 01 June 2025. 

    Safe Boreas is in Norway preparing for relocation in Q2 2025 for a contract in Australia commencing between mid-November 2025 and mid-February 2026.  

    Prosafe has entered into an agreement to sell Safe Scandinavia for recycling. A condition of the recycling is full compliance with all relevant conventions and regulations, with the vessel expected to be delivered within Q2 2025. 

    Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to https://www.prosafe.com  

    For further information, please contact:  

    Terje Askvig, CEO 

    Phone: +4795203886 

    Reese McNeel, CFO 

    Phone: +4741508186 
     

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

    The MIL Network –

  • MIL-OSI: Topline Financial Credit Union Members and Employees Give Back to the Local Twin Cities Communities During March Minnesota Foodshare Month

    Source: GlobeNewswire (MIL-OSI)

    MAPLE GROVE, Minn., April 22, 2025 (GLOBE NEWSWIRE) — TopLine Financial Credit Union, a Twin Cities-based member-owned financial services cooperative, held a food drive during the month of March for the MN FoodShare March Campaign benefitting three local non-profits, Community Emergency Assistance Programs (CEAP), Hope 4 Youth and Keystone Community Services. TopLine members and employees generously donated non-perishable food items of canned vegetables, soups, rice, dry pasta, and more to help fight hunger in our local communities.

    Employees were able to participate by donating non-perishable food items and money in exchange for a “Foundation Friday/Saturday” sticker, allowing them to wear jeans to work. TopLine and community members could also purchase items from an Amazon Wishlist or Target Registry and have them delivered directly to TopLine, and in return delivered to the charitable partners. When the program ended TopLine employees and members had donated over 574 pounds of food items and $1,155 in cash to assist local individuals and families.

    “We frequently receive feedback from our non-profit partners that food supplies decrease during the initial months of the year following a surge in holiday donations,” said Mick Olson, President and CEO of TopLine Financial Credit Union. “Through the generous contributions of our TopLine family, including members and employees, we aim to alleviate some of the stress associated with food insecurity. By collaborating with other donors, we are optimistic that our collective efforts will strengthen our local communities and provide vital support to those in need of food assistance.”

    Minnesota FoodShare began its work in 1982 as a campaign advanced by congregations to restock food shelves in the 7-county Twin Cities Metropolitan Area. The effort was so successful, and the need so evident, the March campaign became a statewide initiative just one year later and is now in its 44th year. Minnesota Foodshare March Campaign is the largest grassroots food and fund drive in the state and helps support the capacity of nearly 300 food shelves. Each year, CEAP, Hope 4 Youth and Keystone Community Services participate in the statewide food and fund drive to restock pantry shelves.

    Community Emergency Assistance Programs (CEAP), serving Hennepin and Anoka Counties, is a community-based, non-profit agency dedicated to providing information, referrals, advocacy and assistance to local communities. Visit www.ceap.org to learn more.

    Hope 4 Youth is a nonprofit organization in Anoka County that helps young people, ages 16-24, who are experiencing homelessness in the northern Twin Cities metro area. To learn more, visit www.hope4youthmn.org.

    Keystone Community Services is a community-based volunteer organization in St. Paul that helps thousands of low-income individuals and families in the East Metro Area. Keystone’s mission is to strengthen the capacity of individuals and families to improve their quality of life. Visit www.keystoneservices.org to learn more.   

    TopLine Financial Credit Union, a Twin Cities-based credit union, is Minnesota’s 9th largest credit union, with assets of over $1.1 billion and serves over 70,000 members. Established in 1935, the not-for-profit financial cooperative offers a complete line of financial services from its ten branch locations — in Bloomington, Brooklyn Park, Champlin, Circle Pines, Coon Rapids, Forest Lake, Maple Grove, Plymouth, St. Francis and in St. Paul’s Como Park — as well as by phone and online at www.TopLinecu.com or www.ahcu.coop. Membership is available to anyone who lives, works, worships, attends school or volunteers in Anoka, Benton, Carver, Chisago, Dakota, Hennepin, Isanti, Kanabec, Mille Lacs, Pine, Ramsey, Scott, Sherburne, Washington and Wright counties in Minnesota and their immediate family members, as well as employees and retirees of Anoka Hennepin School District #11, Anoka Technical College, Federal Premium Ammunition, Hoffman Enclosures, Inc., GRACO, Inc., and their subsidiaries. Visit us on our Facebook or Instagram. To learn more about the credit union’s foundation, visit www.TopLinecu.com/Foundation.

    CONTACT:
    Vicki Roscoe Erickson
    Senior Vice President and Chief Marketing Officer
    TopLine Financial Credit Union
    verickson@toplinecu.com | 763.391.0872

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dd220912-ff69-4f80-a365-080f58c60d44

    The MIL Network –

  • MIL-OSI: CERo Therapeutics, Inc. Announces Up to $8 Million Series D Financing

    Source: GlobeNewswire (MIL-OSI)

    SOUTH SAN FRANCISCO, Calif, April 22, 2025 (GLOBE NEWSWIRE) — CERo Therapeutics Holdings, Inc. (Nasdaq: CERO) (“CERo”), an innovative immunotherapy company seeking to advance the next generation of engineered T cell therapeutics that employ phagocytic mechanisms, announces that it has entered into a securities purchase agreement for the issuance and sale of securities under a new convertible preferred stock transaction.

    The gross proceeds to CERo from the offering are expected to be up to $8 million, including $5 million expected to be received through the investment of securities at the first closing, and up to $3 million of cash that may be funded at one or more additional closings, at the election of the investors.  CERo intends to use the net proceeds from the offering to take advantage of the two recent FDA IND allowances in liquid and solid tumors and complete the previously announced site activation at MDACC, as well as bring other sites online quickly.  The proceeds will also help to address current Nasdaq deficiencies around Shareholders Equity and extend cash on hand to maintain operations and extend runway. 

    “On the heels of our recent announcements anticipating the imminent dosing of our first AML patient at MD Anderson Cancer Center and the IND allowance in solid tumors, we are gratified by the support we have received from investors and look forward to continued execution and progress,” said Chris Ehrlich, Chief Executive Officer.

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

    About CERo Therapeutics Holdings, Inc.

    CERo is an innovative immunotherapy company advancing the development of next generation engineered T cell therapeutics for the treatment of cancer. Its proprietary approach to T cell engineering, which enables it to integrate certain desirable characteristics of both innate and adaptive immunity into a single therapeutic construct, is designed to engage the body’s full immune repertoire to achieve optimized cancer therapy. This novel cellular immunotherapy platform is expected to redirect patient-derived T cells to eliminate tumors by building in engulfment pathways that employ phagocytic mechanisms to destroy cancer cells, creating what CERo refers to as Chimeric Engulfment Receptor T cells (“CER-T”). CERo believes the differentiated activity of CER-T cells will afford them greater therapeutic application than currently approved chimeric antigen receptor (“CAR-T”) cell therapy, as the use of CER-T may potentially span both hematological malignancies and solid tumors. CERo anticipates initiating clinical trials for its lead product candidate, CER-1236, in 2025 for hematological malignancies.

    Forward-Looking Statements

    This communication contains statements that are forward-looking and as such are not historical facts. This includes, without limitation, statements regarding the financial position, business strategy and the plans and objectives of management for future operations of CERo and the implementation of its proposed plan of compliance with Nasdaq continued listing standards. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this communication, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. When CERo discusses its strategies or plans, it is making projections, forecasts or forward-looking statements. Such statements are based on the beliefs of, as well as assumptions made by and information currently available to, CERo’s management.

    Actual results could differ from those implied by the forward-looking statements in this communication. Certain risks that could cause actual results to differ are set forth in CERo’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, filed on April 15, 2025, and the documents incorporated by reference therein. The risks described in CERo’s filings with the Securities and Exchange Commission are not exhaustive. New risk factors emerge from time to time, and it is not possible to predict all such risk factors, nor can CERo assess the impact of all such risk factors on its business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements made by CERo or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. CERo undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Contact:

    Chris Ehrlich
    Chief Executive Officer
    chris@cero.bio

    Investors:

    CORE IR
    investors@cero.bio

    The MIL Network –

  • MIL-OSI: EZCORP to Release Second Quarter Fiscal 2025 Results After Market Close on Monday, April 28, 2025

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, April 22, 2025 (GLOBE NEWSWIRE) — EZCORP, Inc. (“EZCORP” or the “Company”) (NASDAQ: EZPW), a leading provider of pawn transactions in the United States and Latin America, will issue second quarter fiscal 2025 results (period ended March 31, 2025) on Monday, April 28, 2025, after the market close.

    The Company will host a webcast and conference call at 9:00 a.m. Eastern time on Tuesday, April 29, 2025, to discuss its results. The presentation slides will be posted to the Investor Relations section of its website after the market close on Monday, April 28, 2025.

    Date: Tuesday, April 29, 2025
    Time: 9:00 a.m. Eastern time
    Dial-in registration link: https://registrations.events/direct/NTM1088399
    Live webcast registration link: https://edge.media-server.com/mmc/p/hqptihjy

    A replay of the conference call will be available online at http://investors.ezcorp.com shortly after the live call concludes. If you have any difficulty accessing the conference call, please contact Elevate IR at EZPW@elevate-ir.com.

    About EZCORP
    Formed in 1989, EZCORP has grown into a leading provider of pawn transactions in the United States and Latin America. We also sell pre-owned and recycled merchandise, primarily collateral forfeited from pawn lending operations and merchandise purchased from customers. We are dedicated to satisfying the short-term cash needs of consumers who are both cash and credit constrained, focusing on an industry-leading customer experience. EZCORP is traded on NASDAQ under the symbol EZPW and is a member of the S&P 1000 Index and Nasdaq Composite Index.

    Follow EZCORP on social media:
    Facebook EZPAWN Official https://www.facebook.com/EZPAWN/
    EZCORP Instagram Official https://www.instagram.com/ezcorp_official/
    EZPAWN Instagram Official https://www.instagram.com/ezpawnofficial/
    EZCORP LinkedIn https://www.linkedin.com/company/ezcorp/

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

    The MIL Network –

  • MIL-OSI: BCB Bancorp, Inc. Reports Net Loss of $8.3 Million in First Quarter 2025; Declares Quarterly Cash Dividend of $0.16 Per Share

    Source: GlobeNewswire (MIL-OSI)

    BAYONNE, N.J., April 22, 2025 (GLOBE NEWSWIRE) — BCB Bancorp, Inc. (the “Company”), (NASDAQ: BCBP), the holding company for BCB Community Bank (the “Bank”), today reported a net loss of $8.3 million for the first quarter of 2025, compared to net income of $3.3 million in the fourth quarter of 2024, and net income of $5.9 million for the first quarter of 2024. Its loss per diluted share for the first quarter of 2025 was ($0.51), compared to earnings per diluted share of $0.16 in the preceding quarter and $0.32 in the first quarter of 2024.

    The Company also announced that its Board of Directors declared a regular quarterly cash dividend of $0.16 per share. The dividend will be payable on May 21, 2025 to common shareholders of record on May 7, 2025.

    “Our first-quarter loss was primarily driven by a $13.7 million specific reserve tied to a $34.2 million loan in the cannabis sector,” Michael Shriner, President and Chief Executive Officer of BCB Bank, explained. “Although the borrower remains current, the significant deterioration in their financial condition warranted a downgrade to non-accrual status and the establishment of the reserve. We also increased reserves for our discontinued Business Express Loan portfolio by $3.1 million, in response to the portfolio’s continued elevated deterioration and broader macroeconomic headwinds.”

    “While these credit actions have impacted short-term results, they reflect our disciplined and proactive approach to risk management,” added Mr. Shriner. “Thanks to the positive capital actions taken throughout 2024, we remain well-capitalized, giving us the flexibility to address credit challenges head-on.”

    “BCB Bank has bolstered its credit risk team with new hires who we believe bring deep expertise and a rigorous approach to underwriting,” said Mr. Shriner. “These efforts are part of a broader initiative to strengthen our credit quality oversight. Following a comprehensive portfolio review using a conservative risk framework, we’ve adjusted the risk ratings on a number of loans to better reflect current market realities. Importantly, the majority of our customers remain current on their payments, and our team is actively engaging with borrowers to secure updated financials and support improved risk profiles.”

    Executive Summary

    • Total deposits were $2.687 billion at March 31, 2025 compared to $2.751 billion at December 31, 2024.
    • Net interest margin was 2.59 percent for the first quarter of 2025, compared to 2.53 percent for the fourth quarter of 2024, and 2.50 percent for the first quarter of 2024.
      • Total yield on interest-earning assets was 5.20 percent for the first quarter of 2025, compared to 5.33 percent for both the fourth quarter of 2024, and the first quarter of 2024.
      • Total cost of interest-bearing liabilities decreased 24 basis points to 3.33 percent for the first quarter of 2025, compared to 3.57 percent for the fourth quarter of 2024, and decreased 21 basis points to 3.54 percent for the first quarter of 2024.
    • The efficiency ratio for the first quarter was 61.6 percent compared to 62.1 percent in the prior quarter, and 58.8 percent in the first quarter of 2024.
    • The annualized return on average assets ratio for the first quarter was (0.95) percent, compared to 0.36 percent in the prior quarter, and 0.61 percent in the first quarter of 2024.
    • The annualized return on average equity ratio for the first quarter was (10.4) percent, compared to 4.0 percent in the prior quarter, and 7.5 percent in the first quarter of 2024.
    • The provision for credit losses was $20.8 million in the first quarter of 2025 compared to $4.2 million for the fourth quarter of 2024. In the first quarter of 2024, the Bank recorded a provision of $2.1 million.
    • The allowance for credit losses (“ACL”) as a percentage of non-accrual loans was 51.6 percent at March 31, 2025 compared to 77.8 percent for the prior quarter-end and 155.4 percent at March 31, 2024. Total non-accrual loans were $99.8 million at March 31, 2025, $44.7 million at December 31, 2024 and $22.2 million at March 31, 2024.
    • Total loans receivable, net of the allowance for credit losses, of $2.918 billion at March 31, 2025, decreased 2.6 percent from $2.996 billion at December 31, 2024, and decreased 9.6 percent, from $3.227 billion at March 31, 2024.

    Balance Sheet Review

    Total assets decreased by $125.3 million, or 3.5 percent, to $3.474 billion at March 31, 2025, from $3.599 billion at December 31, 2024. The decrease in total assets was mainly related to a decrease in net loans and in cash and cash equivalents.

    Total cash and cash equivalents decreased by $64.5 million, or 20.3 percent, to $252.8 million at March 31, 2025, from $317.3 million at December 31, 2024. The decrease in cash was primarily due to the reduction of the Bank’s exposure to wholesale funding by paying down high cost brokered deposits.

    Loans receivable, net, decreased by $78.6 million, or 2.6 percent, to $2.918 billion at March 31, 2025, from $2.996 billion at December 31, 2024. Total loan decreases during the period included decreases totaling $62.3 million in commercial real estate and multi-family loans, construction loans, 1-4 family residential loans and home equity loans. The allowance for credit losses increased $16.7 million to $51.5 million, or 51.6 percent of non-accruing loans and 1.73 percent of gross loans, at March 31, 2025, as compared to an allowance for credit losses of $34.8 million, or 77.8 percent of non-accruing loans and 1.15 percent of gross loans, at December 31, 2024.

    Total investment securities increased by $14.7 million, or 13.2 percent, to $125.9 million at March 31, 2025, from $111.2 million at December 31, 2024, representing current year purchases.

    Deposits decreased by $64.4 million, or 2.3 percent, to $2.687 billion at March 31, 2025, from $2.751 billion at December 31, 2024. Brokered deposits decreased $112.5 million, and were offset by increases in certificates of deposit, money market accounts, transaction accounts and savings accounts which totaled $48.4 million.

    Debt obligations decreased by $49.8 million to $448.5 million at March 31, 2025 from $498.3 million at December 31, 2024, due to maturities and paydowns of our FHLB advances. The weighted average interest rate of FHLB advances was 4.33 percent at March 31, 2025 and 4.35 percent at December 31, 2024. The weighted average maturity of FHLB advances as of March 31, 2025 was 0.83 years. The interest rate of our subordinated debt balances was 9.25 percent at March 31, 2025 and at December 31, 2024.

    Stockholders’ equity decreased by $9.2 million, or 2.8 percent, to $314.7 million at March 31, 2025, from $323.9 million at December 31, 2024. The decrease was attributable to the decrease in retained earnings of $11.6 million, or 8.2 percent, to $130.3 million at March 31, 2025 from $141.9 million at December 31, 2024. Offsetting this were increases in accumulated other comprehensive income, and additional paid in capital on stock, which totaled $2.4 million.

    First Quarter 2025 Income Statement Review

    The Company reported a net loss of $8.3 million for the first quarter ended March 31, 2025 as compared to net income of $5.9 million for the first quarter ended March 31, 2024. The decline was primarily driven by an increase to the Provision for loan losses of $18.8 million. offset by $5.8 million decrease in income tax provisioning. Also, net interest income decreased by $1.1 million, or 4.9 percent, to $22.0 million for the first quarter of 2025, from $23.1 million for the first quarter of 2024. The decrease in net interest income resulted from lower interest income which was partially offset by lower interest expense.

    Interest income decreased by $5.1 million, or 10.3 percent, to $44.2 million for the first quarter of 2025 from $49.3 million for the first quarter of 2024. The average balance of interest-earning assets decreased $255.9 million, or 6.9 percent, to $3.444 billion for the first quarter of 2025 from $3.699 billion for the first quarter of 2024, while the average yield decreased 13 basis points to 5.20 percent for the first quarter of 2025 from 5.33 percent for the first quarter of 2024.

    Interest expense decreased by $4.0 million to $22.2 million for the first quarter of 2025 from $26.1 million for the first quarter of 2024. The decrease resulted from a decrease in the average rate paid on interest-bearing liabilities of 21 basis points to 3.33 percent for the first quarter of 2025 from 3.54 percent for the first quarter of 2024, while the average balance of interest-bearing liabilities decreased by $256.2 million to $2.701 billion for the first quarter of 2025 from $2.957 billion for the first quarter of 2024.

    The net interest margin was 2.59 percent for the first quarter of 2025 compared to 2.50 percent for the first quarter of 2024. The increase in the net interest margin compared to the first quarter of 2024 was the result of a decrease in the cost of interest-bearing liabilities partially offset by the decrease in the yield on interest-earning assets.

    During the first quarter of 2025, the Company recognized $4.2 million in net charge-offs compared to $1.1 million in net charge-offs in the first quarter of 2024. The Bank had non-accrual loans totaling $99.8 million, or 3.36 percent of gross loans, at March 31, 2025 as compared to $44.7 million, or 1.48 percent of gross loans, at December 31, 2024. The allowance for credit losses on loans was $51.5 million, or 1.73 percent of gross loans, at March 31, 2025, and $34.8 million, or 1.15 percent of gross loans, at December 31, 2024. The provision for credit losses was $20.8 million for the first quarter of 2025 compared to $4.2 million for the fourth quarter of 2024. Management believes that the allowance for credit losses on loans was adequate at March 31, 2025 and December 31, 2024.

    Non-interest income decreased by $318 thousand to $1.8 million for the first quarter of 2025 from $2.1 million in the first quarter of 2024. The decrease in total non-interest income was mainly related to decreases in gains on equity securities and BOLI income of $245 thousand and $67 thousand, respectively.

    Non-interest expense decreased by $178 thousand, or 1.2 percent, to $14.7 million for the first quarter of 2025 when compared to non-interest expense of $14.8 million for the first quarter of 2024. The decrease in these expenses for the first quarter of 2025 was primarily driven by lower regulatory assessment charges, offset by higher salaries and employee benefits.

    The income tax provision decreased by $5.8 million, to an income tax credit of $3.4 million for the first quarter of 2025 when compared to a $2.5 million provision for the first quarter of 2024.

    Asset Quality

    During the first quarter of 2025, the Company recognized $4.2 million in net charge offs, compared to $1.1 million in net charge-offs for the first quarter of 2024.

    The Bank had non-accrual loans totaling $99.8 million, or 3.36 percent of gross loans, at March 31, 2025, as compared to $22.2 million, or 0.68 percent of gross loans, at March 31, 2024. More than 60% of the non-accrual loans are current with all payments of principal, interest, taxes and insurance, including the previously mentioned loan that has been allocated a specific reserve.  However, given that the normal standard for non-accrual is a 90 day delinquency, logic and transparency dictates that this population of loans possess certain weaknesses that are beyond payment status and therefore, even though they are current, they should be placed on non-accrual.  Although our borrowers have made payment of their loan obligations to BCB a priority, our evaluation of their financial condition causes some concern about their continued ability to do so. The allowance for credit losses was $51.5 million, or 1.73 percent of gross loans, at March 31, 2025, and $34.6 million, or 1.06 percent of gross loans, at March 31, 2024. The allowance for credit losses was 51.6 percent of non-accrual loans at March 31, 2025, and 155.4 percent of non-accrual loans at March 31, 2024.

    About BCB Bancorp, Inc.

    Established in 2000 and headquartered in Bayonne, N.J., BCB Community Bank is the wholly-owned subsidiary of BCB Bancorp, Inc. (NASDAQ: BCBP). The Bank has twenty-three branch offices in Bayonne, Edison, Hoboken, Fairfield, Holmdel, Jersey City, Lyndhurst, Maplewood, Monroe Township, Newark, Parsippany, Plainsboro, River Edge, Rutherford, South Orange, Union, and Woodbridge, New Jersey, and four branches in Hicksville and Staten Island, New York. The Bank provides businesses and individuals a wide range of loans, deposit products, and retail and commercial banking services. For more information, please go to www.bcb.bank.

    Forward-Looking Statements

    This release, like many written and oral communications presented by BCB Bancorp, Inc., and our authorized officers, may contain certain forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of said safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of the Company, are generally identified by use of words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “seek,” “strive,” “try,” or future or conditional verbs such as “could,” “may,” “should,” “will,” “would,” or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results.

    The most significant factor that could cause future results to differ materially from those anticipated by our forward-looking statements include the ongoing impact of global tariffs imposed by the Trump administration, higher inflation levels, and general economic and recessionary concerns, all of which could impact economic growth and could cause increased loan delinquencies, a reduction in financial transactions and business activities, including decreased deposits and reduced loan originations, our ability to manage liquidity and capital in a rapidly changing and unpredictable market, supply chain disruptions, and labor shortages. Other factors that could cause future results to vary materially from current management expectations as reflected in our forward-looking statements include, but are not limited to: the global impact of the military conflicts in the Ukraine and the Middle East; unfavorable economic conditions in the United States generally and particularly in our primary market area; the Company’s ability to effectively attract and deploy deposits; changes in the Company’s corporate strategies, the composition of its assets, or the way in which it funds those assets; shifts in investor sentiment or behavior in the securities, capital, or other financial markets, including changes in market liquidity or volatility; the effects of declines in real estate values that may adversely impact the collateral underlying our loans; increase in unemployment levels and slowdowns in economic growth; our level of non-performing assets and the costs associated with resolving any problem loans including litigation and other costs; the impact of changes in interest rates and the credit quality and strength of underlying collateral and the effect of such changes on the market value of our loan and investment securities portfolios; the credit risk associated with our loan portfolio; changes in the quality and composition of the Bank’s loan and investment portfolios; changes in our ability to access cost-effective funding; deposit flows; legislative and regulatory changes, including increases in Federal Deposit Insurance Corporation, or FDIC, insurance rates; monetary and fiscal policies of the federal and state governments; changes in tax policies, rates and regulations of federal, state and local tax authorities; demands for our loan products; demand for financial services; competition; changes in the securities or secondary mortgage markets; changes in management’s business strategies; changes in consumer spending; our ability to hire and retain key employees; the effects of any reputational, credit, interest rate, market, operational, legal, liquidity, or regulatory risk; expanding regulatory requirements which could adversely affect operating results; civil unrest in the communities that we serve; and other factors discussed elsewhere in this report, and in other reports we filed with the SEC, including under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K, and our other periodic reports that we file with the SEC.

    Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.

    Explanation of Non-GAAP Financial Measures

    Reported amounts are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). This press release also contains certain supplemental Non-GAAP information that the Company’s management uses in its analysis of the Company’s financial results. The Company’s management believes that providing this information to analysts and investors allows them to better understand and evaluate the Company’s financial results for the periods in question.

    The Company provides measurements and ratios based on tangible stockholders’ equity and efficiency ratios. These measures are utilized by regulators and market analysts to evaluate a company’s financial condition and, therefore, the Company’s management believes that such information is useful to investors. For a reconciliation of GAAP to Non-GAAP financial measures included in this press release, see “Reconciliation of GAAP to Non-GAAP Financial Measures” below.

             
      Statements of Operations – Three Months Ended,      
      March 31,2025 December 31, 2024 March 31, 2024 Mar 31, 2025 vs.
    Dec 31, 2024    		   Mar 31, 2025 vs.
    Mar 31, 2024
    Interest and dividend income: (In thousands, except per share amounts, Unaudited)      
    Loans, including fees $ 38,927   $ 41,431   $ 43,722     -6.0 %     -11.0 %
    Mortgage-backed securities   561     473     305     18.6 %     83.9 %
    Other investment securities   968     978     975     -1.0 %     -0.7 %
    FHLB stock and other interest-earning assets   3,736     3,771     4,283     -0.9 %     -12.8 %
    Total interest and dividend income   44,192     46,653     49,285     -5.3 %     -10.3 %
                 
    Interest expense:            
    Deposits:            
    Demand   5,418     5,866     5,257     -7.6 %     3.1 %
    Savings and club   151     156     166     -3.2 %     -9.0 %
    Certificates of deposit   10,762     12,218     14,983     -11.9 %     -28.2 %
        16,331     18,240     20,406     -10.5 %     -20.0 %
    Borrowings   5,856     6,219     5,736     -5.8 %     2.1 %
    Total interest expense   22,187     24,459     26,142     -9.3 %     -15.1 %
                 
    Net interest income   22,005     22,194     23,143     -0.9 %     -4.9 %
    Provision for credit losses   20,845     4,154     2,088     401.8 %     898.3 %
                 
    Net interest income after provision for credit losses   1,160     18,040     21,055     -93.6 %     -94.5 %
                 
    Non-interest income income :            
    Fees and service charges   1,173     1,187     1,215     -1.2 %     -3.5 %
    (Loss) gain on sales of loans   –     (554 )   45     -100.0 %     -100.0 %
    Realized and unrealized (loss) gain on equity investments   (115 )   (661 )   130     -82.6 %     -188.5 %
    Bank-owned life insurance (“BOLI”) income   608     636     675     -4.4 %     -9.9 %
    Other   125     330     44     -62.1 %     184.1 %
    Total non-interest income   1,791     938     2,109     90.9 %     -15.1 %
                 
    Non-interest expense:            
    Salaries and employee benefits   7,403     7,117     6,981     4.0 %     6.0 %
    Occupancy and equipment   2,723     2,483     2,644     9.7 %     3.0 %
    Data processing and communications   1,844     1,754     1,853     5.1 %     -0.5 %
    Professional fees   692     599     595     15.5 %     16.3 %
    Director fees   418     269     277     55.4 %     50.9 %
    Regulatory assessment fees   709     769     1,142     -7.8 %     -37.9 %
    Advertising and promotions   179     212     216     -15.6 %     -17.1 %
    Other   692     1,164     1,130     -40.5 %     -38.8 %
    Total non-interest expense   14,660     14,367     14,838     2.0 %     -1.2 %
                 
    (Loss) Income before income tax provision   (11,709 )   4,611     8,326     -353.9 %     -240.6 %
    Income tax (benefit) provision   (3,385 )   1,339     2,460     -352.8 %     -237.6 %
                 
    Net (Loss) Income   (8,324 )   3,272     5,866     -354.4 %     -241.9 %
    Preferred stock dividends   482     475     434     1.6 %     11.0 %
    Net (Loss) Income available to common stockholders $ (8,806 ) $ 2,797   $ 5,432     -414.8 %     -262.1 %
                 
    Net (Loss) Income per common share-basic and diluted            
    Basic $ (0.51 ) $ 0.16   $ 0.32     -413.8 %     -260.4 %
    Diluted $ (0.51 ) $ 0.16   $ 0.32     -414.7 %     -260.5 %
                 
    Weighted average number of common shares outstanding            
    Basic   17,113     17,056     16,930     0.3 %     1.1 %
    Diluted   17,113     17,108     16,939     0.0 %     1.0 %
                 
    Statements of Financial Condition March 31,2025 December 31,2024 March 31, 2024 March 31, 2025 vs.
    December 31, 2024    		 March 31, 2025 vs.
    March 31, 2024
    ASSETS (In Thousands, Unaudited)    
    Cash and amounts due from depository institutions $ 11,977   $ 14,075   $ 11,795     -14.9 %   1.5 %
    Interest-earning deposits   240,773     303,207     340,653     -20.6 %   -29.3 %
    Total cash and cash equivalents   252,750     317,282     352,448     -20.3 %   -28.3 %
               
    Interest-earning time deposits   735     735     735     –     –  
    Debt securities available for sale   116,496     101,717     86,966     14.5 %   34.0 %
    Equity investments   9,357     9,472     9,223     -1.2 %   1.5 %
    Loans held for sale   –     –     –     –     –  
    Loans receivable, net of allowance for credit losses on loans          
    of $51,484, $34,789 and $34,563 , respectively   2,917,610     2,996,259     3,226,877     -2.6 %   -9.6 %
    Federal Home Loan Bank of New York (“FHLB”) stock, at cost   22,066     24,272     24,917     -9.1 %   -11.4 %
    Premises and equipment, net   12,474     12,569     12,744     -0.8 %   -2.1 %
    Accrued interest receivable   16,354     15,176     17,442     7.8 %   -6.2 %
    Deferred income taxes   22,814     17,181     17,555     32.8 %   30.0 %
    Goodwill and other intangibles   5,253     5,253     5,253     0.0 %   0.0 %
    Operating lease right-of-use asset   12,622     12,686     12,186     -0.5 %   3.6 %
    Bank-owned life insurance (“BOLI”)   76,648     76,040     74,081     0.8 %   3.5 %
    Other assets   8,643     10,476     8,768     -17.5 %   -1.4 %
    Total Assets $ 3,473,822   $ 3,599,118   $ 3,849,195     -3.5 %   -9.8 %
               
    LIABILITIES AND STOCKHOLDERS’ EQUITY          
               
    LIABILITIES          
    Non-interest bearing deposits $ 542,621   $ 520,387   $ 531,112     4.3 %   2.2 %
    Interest bearing deposits   2,143,887     2,230,471     2,460,547     -3.9 %   -12.9 %
    Total deposits   2,686,508     2,750,858     2,991,659     -2.3 %   -10.2 %
    FHLB advances   405,499     455,361     472,949     -10.9 %   -14.3 %
    Subordinated debentures   43,024     42,961     37,624     0.1 %   14.4 %
    Operating lease liability   13,087     13,139     12,579     -0.4 %   4.0 %
    Other liabilities   10,982     12,874     14,253     -14.7 %   -22.9 %
    Total Liabilities   3,159,100     3,275,193     3,529,064     -3.5 %   -10.5 %
               
    STOCKHOLDERS’ EQUITY          
    Preferred stock: $0.01 par value, 10,000 shares authorized   –     –     –     –     –  
    Additional paid-in capital preferred stock   25,243     24,723     27,733     2.1 %   -9.0 %
    Common stock: no par value, 40,000 shares authorized   –     –     –     0.0 %   0.0 %
    Additional paid-in capital common stock   201,804     200,935     199,726     0.4 %   1.0 %
    Retained earnings   130,291     141,853     138,643     -8.2 %   -6.0 %
    Accumulated other comprehensive loss   (4,269 )   (5,239 )   (7,624 )   –     –  
    Treasury stock, at cost   (38,347 )   (38,347 )   (38,347 )   0.0 %   0.0 %
    Total Stockholders’ Equity   314,722     323,925     320,131     -2.8 %   -1.7 %
               
    Total Liabilities and Stockholders’ Equity $ 3,473,822   $ 3,599,118   $ 3,849,195     -3.5 %   -9.8 %
               
    Outstanding common shares   17,163     17,063     16,957      
               
      Three Months Ended March 31,
      2025   2024
      Average Balance Interest Earned/Paid Average Yield/Rate (3)   Average Balance Interest Earned/Paid Average Yield/Rate (3)
      (Dollars in thousands)
    Interest-earning assets:              
    Loans Receivable (4)(5) $ 2,994,529   $ 38,927     5.27 %   $ 3,299,938   $ 43,722     5.30 %
    Investment Securities   117,205     1,529     5.22 %     96,226     1,280     5.32 %
    Other Interest-earning assets (6)   331,808     3,736     4.57 %     303,291     4,283     5.65 %
    Total Interest-earning assets   3,443,542     44,192     5.20 %     3,699,455     49,285     5.33 %
    Non-interest-earning assets   125,974           125,480      
    Total assets $ 3,569,516         $ 3,824,935      
    Interest-bearing liabilities:              
    Interest-bearing demand accounts $ 560,565   $ 2,369     1.71 %   $ 560,190   $ 2,230     1.59 %
    Money market accounts   394,282     3,049     3.14 %     369,096     3,027     3.28 %
    Savings accounts   252,227     151     0.24 %     277,731     166     0.24 %
    Certificates of Deposit   1,005,669     10,762     4.34 %     1,239,807     14,983     4.83 %
    Total interest-bearing deposits   2,212,743     16,331     2.99 %     2,446,824     20,406     3.34 %
    Borrowed funds   488,418     5,856     4.86 %     510,503     5,736     4.49 %
    Total interest-bearing liabilities   2,701,161     22,187     3.33 %     2,957,327     26,142     3.54 %
    Non-interest-bearing liabilities   543,660           552,959      
    Total liabilities   3,244,821           3,510,286      
    Stockholders’ equity   324,695           314,649      
    Total liabilities and stockholders’ equity $ 3,569,516         $ 3,824,935      
    Net interest income   $ 22,005         $ 23,143    
    Net interest rate spread(1)       1.87 %         1.79 %
    Net interest margin(2)       2.59 %         2.50 %
                   
    (1) Net interest rate spread represents the difference between the average yield on average interest-earning assets and the average cost of average interest-bearing liabilities.
    (2) Net interest margin represents net interest income divided by average total interest-earning assets.
    (3) Annualized.
    (4) Excludes allowance for credit losses.
    (5) Includes non-accrual loans.
    (6) Includes Federal Home Loan Bank of New York Stock.
                   
      Financial Condition data by quarter
      Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
               
      (In thousands, except book values)
    Total assets $ 3,473,822   $ 3,599,118   $ 3,613,770   $ 3,793,941   $ 3,849,195  
    Cash and cash equivalents   252,750     317,282     243,123     326,870     352,448  
    Securities   125,853     111,189     108,302     94,965     96,189  
    Loans receivable, net   2,917,610     2,996,259     3,087,914     3,161,925     3,226,877  
    Deposits   2,686,508     2,750,858     2,724,580     2,935,239     2,991,659  
    Borrowings   448,523     498,322     533,466     510,710     510,573  
    Stockholders’ equity   314,722     323,925     328,113     320,732     320,131  
    Book value per common share1 $ 16.87   $ 17.54   $ 17.50   $ 17.17   $ 17.24  
    Tangible book value per common share2 $ 16.56   $ 17.23   $ 17.19   $ 16.86   $ 16.93  
               
      Operating data by quarter
      Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
      (In thousands, except for per share amounts)
    Net interest income $ 22,005   $ 22,194   $ 23,045   $ 23,639   $ 23,143  
    Provision for credit losses   20,845     4,154     2,890     2,438     2,088  
    Non-interest income (loss)   1,791     938     3,127     (3,234 )   2,109  
    Non-interest expense   14,660     14,367     13,929     13,987     14,838  
    Income tax (benefit) expense   (3,385 )   1,339     2,685     1,163     2,460  
    Net (loss) income $ (8,324 ) $ 3,272   $ 6,668   $ 2,817   $ 5,866  
    Net (loss) income per diluted share $ (0.51 ) $ 0.16   $ 0.36   $ 0.14   $ 0.32  
    Common Dividends declared per share $ 0.16   $ 0.16   $ 0.16   $ 0.16   $ 0.16  
               
      Financial Ratios(3)
      Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
    Return on average assets   (0.95 %)   0.36 %   0.72 %   0.30 %   0.61 %
    Return on average stockholders’ equity   (10.40 %)   4.04 %   8.29 %   3.52 %   7.46 %
    Net interest margin   2.59 %   2.53 %   2.58 %   2.60 %   2.50 %
    Stockholders’ equity to total assets   9.06 %   9.00 %   9.08 %   8.45 %   8.32 %
    Efficiency Ratio4   61.61 %   62.11 %   53.22 %   68.55 %   58.76 %
               
      Asset Quality Ratios
      Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
      (In thousands, except for ratio %)
    Non-Accrual Loans $ 99,833   $ 44,708   $ 35,330   $ 32,448   $ 22,241  
    Non-Accrual Loans as a % of Total Loans   3.36 %   1.48 %   1.13 %   1.01 %   0.68 %
    ACL as % of Non-Accrual Loans   51.6 %   77.8 %   98.2 %   108.6 %   155.4 %
    Individually Analyzed Loans   122,517     83,399     66,048     60,798     65,731  
    Classified Loans   251,989     152,714     98,316     87,033     97,739  
               
    (1) Calculated by dividing stockholders’ equity, less preferred equity, to shares outstanding.
    (2) Calculated by dividing tangible stockholders’ common equity, a non-GAAP measure, by shares outstanding. Tangible stockholders’ common equity is stockholders’ equity less goodwill and preferred stock. See “Reconciliation of GAAP to Non-GAAP Financial Measures by quarter.”  
    (3) Ratios are presented on an annualized basis, where appropriate.
    (4) The Efficiency Ratio, a non-GAAP measure, was calculated by dividing non-interest expense by the total of net interest income and non-interest income. See “Reconciliation of GAAP to Non-GAAP Financial Measures by quarter.”
               
      Recorded Investment in Loans Receivable by quarter
      Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
      (In thousands)
    Residential one-to-four family $ 232,456   $ 239,870   $ 241,050   $ 242,706   $ 244,762  
    Commercial and multi-family   2,221,218     2,246,677     2,296,886     2,340,385     2,392,970  
    Construction   118,779     135,434     146,471     173,207     180,975  
    Commercial business   330,358     342,799     371,365     375,355     378,073  
    Home equity   66,479     66,769     67,566     66,843     65,518  
    Consumer   2,271     2,235     2,309     2,053     2,847  
      $ 2,971,561   $ 3,033,784   $ 3,125,647   $ 3,200,549   $ 3,265,145  
    Less:          
    Deferred loan fees, net   (2,467 )   (2,736 )   (3,040 )   (3,381 )   (3,705 )
    Allowance for credit losses   (51,484 )   (34,789 )   (34,693 )   (35,243 )   (34,563 )
               
    Total loans, net $ 2,917,610   $ 2,996,259   $ 3,087,914   $ 3,161,925   $ 3,226,877  
               
      Non-Accruing Loans in Portfolio by quarter
      Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
      (In thousands)
    Residential one-to-four family $ 1,138   $ 1,387   $ 410   $ 350   $ 429  
    Commercial and multi-family   89,296     32,974     27,693     27,796     12,627  
    Construction   586     586     586     586     3,225  
    Commercial business   8,374     9,530     6,498     3,673     5,916  
    Home equity   439     231     123     43     44  
    Consumer   –     –     20     –     –  
    Total: $ 99,833   $ 44,708   $ 35,330   $ 32,448   $ 22,241  
               
      Distribution of Deposits by quarter
      Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
      (In thousands)
    Demand:          
    Non-Interest Bearing $ 542,620   $ 520,387   $ 528,089   $ 523,816   $ 531,112  
    Interest Bearing   537,468     553,731     527,862     549,239     552,295  
    Money Market   405,793     395,004     366,655     371,689     361,791  
    Sub-total: $ 1,485,881   $ 1,469,122   $ 1,422,606   $ 1,444,744   $ 1,445,198  
    Savings and Club   254,732     252,491     255,115     258,680     272,051  
    Certificates of Deposit   945,895     1,029,245     1,046,859     1,231,815     1,274,410  
    Total Deposits: $ 2,686,508   $ 2,750,858   $ 2,724,580   $ 2,935,239   $ 2,991,659  
               
      Reconciliation of GAAP to Non-GAAP Financial Measures by quarter
               
      Tangible Book Value per Share
      Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
      (In thousands, except per share amounts)
    Total Stockholders’ Equity $ 314,722   $ 323,925   $ 328,113   $ 320,732   $ 320,131  
    Less: goodwill   5,253     5,253     5,253     5,253     5,253  
    Less: preferred stock   25,243     24,723     29,763     28,403     27,733  
    Total tangible common stockholders’ equity   284,226     293,949     293,097     287,076     287,145  
    Shares common shares outstanding   17,163     17,063     17,048     17,029     16,957  
    Book value per common share $ 16.87   $ 17.54   $ 17.50   $ 17.17   $ 17.24  
    Tangible book value per common share $ 16.56   $ 17.23   $ 17.19   $ 16.86   $ 16.93  
               
      Efficiency Ratios
      Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
      (In thousands, except for ratio %)
    Net interest income $ 22,005   $ 22,194   $ 23,045   $ 23,639   $ 23,143  
    Non-interest income (loss)   1,791     938     3,127     (3,234 )   2,109  
    Total income   23,796     23,132     26,172     20,405     25,252  
    Non-interest expense   14,660     14,367     13,929     13,987     14,838  
    Efficiency Ratio   61.61 %   62.11 %   53.22 %   68.55 %   58.76 %
               
    Contact: Michael Shriner,
    President & CEO
    Jawad Chaudhry,
    EVP & CFO
    (201) 823-0700
       

    The MIL Network –

  • MIL-OSI: Obagi Medical Announces the Launch of Retinol + PHA Refining Night Cream

    Source: GlobeNewswire (MIL-OSI)

    A Scientific Breakthrough in Skin Renewal: A Clinically Proven Dual-Action, Slow-Release, Overnight Skin Renewal Cream for a Resurfaced, Smoother, and More Even-Looking Complexion

    NEW YORK, April 22, 2025 (GLOBE NEWSWIRE) — Obagi Medical (“Obagi”), the fastest-growing professional skincare brand in the U.S. in 2024* and a subsidiary of Waldencast plc, (NASDAQ: WALD) (“Waldencast”), proudly introduces its latest breakthrough: Retinol + PHA Refining Night Cream. This advanced formulation is engineered to optimize skin renewal by leveraging the efficacy of Entrapped Retinol with the scientifically proven gentle exfoliating properties of Polyhydroxy Acid (PHA) Gluconolactone. This synergistic combination enhances cell turnover while reinforcing the skin barrier, resulting in a visibly refined, smoother, and more even complexion.

    Expanding on Obagi’s trusted retinol portfolio, this innovative formula incorporates PHA—a next-generation exfoliant with a larger molecular structure than Alpha Hydroxy Acids (AHAs) and Beta Hydroxy Acids (BHAs). This distinction allows for effective resurfacing with minimal irritation, making it ideal for individuals seeking to improve skin texture and tone while maintaining hydration and skin barrier integrity. Additionally, the formula features Entrapped Retinol, a slow-release delivery technology that gradually delivers retinol into multiple layers of the skin over time. This controlled release helps maximize efficacy while minimizing the irritation commonly associated with vitamin A products. The result is an effective yet gentle introduction to retinol, suitable for beginners and those with sensitive skin who may struggle with stronger retinoids.

    “Patient compliance is the key to achieving visible results. By using a slow-release, encapsulated retinol combined with a gentle exfoliating and hydrating PHA, this formula makes it easier for patients to tolerate nightly use,” said Dr. Suzan Obagi, Chief Medical Director at Obagi. “As a result, they may experience improved skin texture and a noticeable reduction in blemishes.”

    Retinol + PHA Refining Night Cream is fortified with eight additional dermatologically recognized ingredients to support hydration, minimize irritation, and enhance skin resilience. These ingredients include:

    • Sodium Hyaluronate – A potent humectant that deeply hydrates and retains moisture.
    • Vitamin E (Tocopherol) – A powerful antioxidant that shields against oxidative stress while nourishing the skin.
    • Squalane – A bio-compatible lipid that enhances hydration, reinforces the skin barrier, and improves texture.
    • Glycerin – A clinically proven hydrating agent that maintains moisture balance and supports skin resilience.

    A four-week clinical study demonstrated the efficacy of Retinol + PHA Refining Night Cream, with participants experiencing significant improvements in skin texture and tone, including:

    • 29% increase in skin smoothness*
    • 10% improvement in skin tone evenness*
    • 90% of users reporting visibly smoother skin texture*
    • 90% observing a reduction in the appearance of blemishes*

    “At Obagi, our mission is to transform skin. We wanted to create a retinol solution that delivers real results while being accessible to those with sensitive skin, blemish concerns, or who aren’t ready for higher-strength retinoids,” said Justin Giouzepis, Chief Marketing Officer of Obagi. “This formula was designed with both professionals and their patients in mind—addressing unmet needs with a gentle yet effective approach. We’re thrilled to report that our clinical data found that in just eight weeks, there was a 2.3x increase in the number of participants who felt comfortable in their own skin.”

    The Retinol + PHA Refining Night Cream, priced at $135 is now available through partnering professional channels. They will be available for customers to purchase on Obagi.com on 5.5.2025.

    *Results based on a 2024-2025 8-week clinical test. Data on file at Obagi Cosmeceuticals LLC.

    About Obagi Medical

    Obagi Medical is an industry-leading, advanced skincare line rooted in research and skin biology, with a legacy of 35+ years of experience. Initially known for its leadership in the treatment of hyperpigmentation with the Obagi Nu-Derm® System, Obagi products are designed to address a variety of skin concerns, including premature aging, photodamage, skin discoloration, acne, and sun damage. As the fastest-growing professional skincare brand in the U.S. in 2024,* Obagi empowers individuals to achieve healthy, beautiful skin. The brand continues to lead in physician-recommended skincare solutions and is recognized as the #1 Physician-Recommended Brand for At-Home Skincare Products for Hyperpigmentation, Fine Lines & Wrinkles, and Sagging Skin & Loss of Elasticity.** More information about Obagi is available on the brand’s website, https://www.obagi.com.

    *Among the Top 10 Professional Skin Care Brands in the U.S., According to Kline’s 2024 Global Professional Skin Care Series (China, Europe and the U.S.)

    **According to Kline’s Physician- Dispensed Skin Care: U.S. Perception and Satisfaction Survey 2023.

    About Waldencast
    Founded by Michel Brousset and Hind Sebti, Waldencast’s ambition is to build a global best-in-class beauty and wellness operating platform by developing, acquiring, accelerating, and scaling conscious, high-growth purpose-driven brands. Waldencast’s vision is fundamentally underpinned by its brand-led business model that ensures proximity to its customers, business agility, and market responsiveness, while maintaining each brand’s distinct DNA. The first step in realizing its vision was the business combination with Obagi Cosmeceuticals and Milk Makeup. As part of the Waldencast platform, its brands will benefit from the operational scale of a multi-brand platform; the expertise in managing global beauty brands at scale; a balanced portfolio to mitigate category fluctuations; asset-light efficiency; and the market responsiveness and speed of entrepreneurial indie brands. For more information please visit: https://ir.waldencast.com/.

    Media Contact:
    obagi@purplepr.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/19348f80-4f45-44c4-990a-dc3de7df67b7

    The MIL Network –

  • MIL-OSI: GCM Grosvenor Announces $1.3 Billion Final Close for Infrastructure Advantage Fund II, a Nearly 50% Increase Over its Predecessor Fund

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, April 22, 2025 (GLOBE NEWSWIRE) — GCM Grosvenor (Nasdaq: GCMG), a leading global alternative asset management solutions provider, announced the final close of its Infrastructure Advantage Fund II (“IAF II” or the “Fund”) was held on March 31, 2025, securing $1.3 billion in commitments, a substantial increase over its predecessor, “Fund I”, which closed in 2020 at $893 million.   

    GCM Grosvenor’s Infrastructure Advantage Strategy focuses on partnership with organized labor and other stakeholders to invest in infrastructure projects with long-term community and economic benefits. Similar to Fund I, IAF II will focus on building a diverse portfolio of assets across infrastructure sectors including transportation, energy transition, and digital infrastructure. The Fund attracted a broad group of 58 investors from across the U.S. and Canada.

    “We are grateful for the continued confidence of our investors, who share our vision of effectively deploying infrastructure capital in the U.S. and Canada,” said Michael Sacks, Chairman and Chief Executive Officer at GCM Grosvenor. “We look forward to building on the success of Fund I and delivering value to our IAF II investors.”

    Launched in 2018, GCM Grosvenor’s Infrastructure Advantage Strategy manages nearly $2.5 billion in assets, and through its investments, has generated more than $8 billion* of total economic impact across the United States and Canada.

    *Source: IMPLAN 2022 Data Set.

    About GCM Grosvenor 
    GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $80 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform.​  

    GCM Grosvenor’s experienced team of approximately 550 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul, and Sydney. For more information, visit: www.gcmgrosvenor.com.  

    Media Contact 
    Tom Johnson and Abigail Ruck 
    H/Advisors Abernathy 
    tom.johnson@h-advisors.global / abigail.ruck@h-advisors.global 
    212-371-5999

    The MIL Network –

  • MIL-OSI: Banzai Announces Exercise of 1,048,920 Warrants Purchased at $3.89 Each

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, April 22, 2025 (GLOBE NEWSWIRE) — Banzai International, Inc. (NASDAQ: BNZI) (“Banzai” or the “Company”), a leading marketing technology company that provides essential marketing and sales solutions, today announced that it has issued 1,048,920 shares of common stock to Alco Investment Company (“Alco”), pursuant to an exercise notice for Pre-Funded Warrants received on September 20, 2024 for a purchase price of $3.89.

    On September 20, 2024, the Company completed a private placement of securities pursuant to which Alco acquired 282,420 shares of Class A Common Stock for a purchase price of $3.89 per share, Pre-Funded Warrants to purchase up to 1,048,920 shares of Class A Common Stock with an exercise price of $0.0001 per share for a purchase price of $3.89 per Pre-Funded Warrant, and Common Warrants to purchase up to 1,331,340 shares of Class A Common Stock with an exercise price of $4.02 per share. Alco has not sold any shares issued under the private placement.

    All Pre-Funded Warrants were net exercised on a cashless basis, resulting in a total number of Class A common shares outstanding of 14,470,727 as of April 21, 2025. Following the exercise, Alco will own 9.5% of the Company’s Class A Common Stock.

    “The exercising of these warrants, which originally carried a significant premium to market price, is a highly positive vote of confidence from Alco, one of our key investors and company insiders,” said Joe Davy, Founder and CEO of Banzai. “We are continuing to strengthen our capital structure, and we appreciate the support of our stakeholders who demonstrate their belief in our strategy as we work to achieve long-term success.”

    About Banzai

    Banzai is a marketing technology company that provides AI-enabled marketing and sales solutions for businesses of all sizes. On a mission to help their customers grow, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Customers who use Banzai’s product suite include Autodesk, Dell Technologies, New York Life, Thermo Fisher Scientific, Thinkific, and ActiveCampaign, among thousands of others. Learn more at www.banzai.io. For investors, please visit https://ir.banzai.io.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often use words such as “believe,” “may,” “will,” “estimate,” “target,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seek,” “future,” “outlook,” and similar variations and expressions. Forward-looking statements are those that do not relate strictly to historical or current facts. Examples of forward-looking statements may include, among others, statements regarding Banzai International, Inc.’s (the “Company’s”): future financial, business and operating performance and goals; annualized recurring revenue and customer retention; ongoing, future or ability to maintain or improve its financial position, cash flows, and liquidity and its expected financial needs; potential financing and ability to obtain financing; acquisition strategy and proposed acquisitions and, if completed, their potential success and financial contributions; strategy and strategic goals, including being able to capitalize on opportunities; expectations relating to the Company’s industry, outlook and market trends; total addressable market and serviceable addressable market and related projections; plans, strategies and expectations for retaining existing or acquiring new customers, increasing revenue and executing growth initiatives; and product areas of focus and additional products that may be sold in the future. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Factors that may cause actual results to differ materially include changes in the markets in which the Company operates, customer demand, the financial markets, economic, business and regulatory and other factors, such as the Company’s ability to execute on its strategy. More detailed information about risk factors can be found in the Company’s Annual Report on Form 10-K and the Company’s Quarterly Reports on Form 10-Q under the heading “Risk Factors,” and in other reports filed by the Company, including reports on Form 8-K. The Company does not undertake any duty to update forward-looking statements after the date of this press release.

    Investor Relations
    Chris Tyson
    Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    BNZI@mzgroup.us
    www.mzgroup.us

    Media
    Rachel Meyrowitz
    Director, Demand Generation, Banzai
    media@banzai.io

    The MIL Network –

  • MIL-OSI: Prairie Flower Casino Partners With Signature Systems, Inc. to Update Point of Sale Technology

    Source: GlobeNewswire (MIL-OSI)

    WARMINSTER, Pa., April 22, 2025 (GLOBE NEWSWIRE) — Signature Systems, Inc. (SSI), the multi-award-winning technology solutions provider known for their point-of-sale (POS) solutions, announced its partnership with The Ponca Tribe of Nebraska’s Prairie Flower Casino brand. The partnership represents the first gaming site that Signature Systems, Inc. has converted in the state of Iowa.

    SSI has installed brand-new point-of-sale hardware, including mobile tablets and kiosks, to the state-of-the-art gaming facility in Carter Lake, Iowa. Prairie Flower Casino recently opened its expanded, 70,000 sq. ft. gaming facility and sought to find a POS that reflected their commitment to delivering the best possible guest experience.

    “When we were evaluating the best possible vendors and partners for Prairie Flower Casino, SSI stood out to us,” said Raymond Bertschy, Director of Food and Beverage at Prairie Flower Casino. “SSI’s POS had the features we were looking for, but their reputation for reliability was the key factor in our decision. This casino will serve guests every hour of every day and we want them all to have the kind of experience that makes them want to come back.”

    The SSI POS solution was implemented at Prairie Flower Casino in February 2025 following a major d expansion that increased the overall footprint of the Iowa-based gaming destination by 700%.

    “Prairie Flower Casino marks our first gaming partner in Iowa, but adds to a growing list of tribal properties that have been underserved in their POS needs,” said John White, EVP/CTO of Signature Systems. “We’re proud to have served The Ponca Tribe of Nebraska in helping them to actualize their vision for their expansion. We look forward to our continued partnership and the continued success of their casino.”

    About Signature Systems (SSI)

    With deep roots in food and beverage, SSI is a 35-year tenured technology solutions provider whose signature product is PDQ POS, a top rated, all-concept point of sale management system. SSI differentiates itself from all others by virtue of its all-in-one, custom solution sets; all-in-house, domestic teams (including development, live 24x7x365 support, and data/cyber security); and all-in accountability for prompt, accurate issue resolution. Products & services include a natively integrated enterprise reporting mobile app, natively integrated “In-Place Dining” mobile app, natively integrated online ordering, an array of guest empowerment solutions including self-serve kiosks with multiple tenders, full PCI DSS compliance, comprehensive menu management, value-added integrations via RESTful APIs, expert project management, onsite training and education, and much more. Learn more at SSIpos.com. SSI is the proud winner of the 2022 Innovation Award for Integration Services and the 2023 Partner Award from Gaming & Leisure©.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cf09c3f8-6f04-4355-b6ca-d7758963f495

    The MIL Network –

  • MIL-OSI: On Earth Day, Power Over Energy Celebrates 12 Years of Advancing Energy Literacy 

    Source: GlobeNewswire (MIL-OSI)

    LIBERTY LAKE, Wash., April 22, 2025 (GLOBE NEWSWIRE) — Power Over Energy®, an energy literacy initiative backed by Itron, is celebrating Earth Day and its 12th anniversary with the launch of a new website, new interactive educational content, and continued growth around the world.

    Consumer energy literacy is more important than ever for building a cleaner energy future. Consumer education plays a crucial role in the adoption of energy-efficient technologies and participation in energy-saving programs. According to an Itron Resourcefulness Report, 43% of utilities believe consumers play a critical role in speeding the clean energy transition by understanding the importance of sustainable energy, adopting more energy efficient appliances, participating in demand response programs and changing their daily consumption behavior to align with grid needs.

    This year’s Earth Day theme, “Our Power, Our Planet,” underscores the importance of individual action and collective responsibility—an idea at the heart of Power Over Energy’s mission. The campaign’s focus on improving energy literacy directly supports this call to action, empowering people to make smarter energy choices that contribute to a more sustainable future. 

    Since its launch in 2013, Power Over Energy has been dedicated to increasing awareness about the impacts of energy and water consumption, climate disruption and inspiring people with hope through innovative solutions and personal actions to help create a more resourceful world. The literacy initiative has reached 276 million consumers around the world and gained a global following across Facebook, YouTube, Instagram and X.

    Power Over Energy’s new website showcases energy and climate challenges and solutions through blog posts, videos and the new and wildly popular Power Play Quiz Game. The initiative educates and inspires followers through monthly educational campaigns, newsletters, and social media posts on topics including the challenges posed by climate disruption; solutions that span clean energy, conservation, smart cities, transportation and water; and opportunities to take action.

    The new website expands its Power Play Quiz Game to include five new versions, each aligned with a key solution area from the website: Smart Cities, Clean Energy, Transportation, Water, and Conservation. These interactive quizzes engage users in a fun, educational way, empowering them with knowledge to take meaningful action toward a more sustainable future.

    “It’s been gratifying to see the momentum and following that the Power Over Energy initiative has achieved,” said Marina Donovan, Itron’s vice president of global marketing, ESG and public affairs. “Power Over Energy is dedicated to educating consumers about the impacts of energy and water consumption. The new website helps consumers better understand the challenges of climate disruption and the solutions to help us adapt to our changing world. As we recognize and celebrate Earth Day, unveiling Power Over Energy’s new website reaffirms our commitment to educate people how to create a more resourceful world.” 

    “Energy and water are both critical resources, and what most people don’t realize is that they depend on each other. If there is a shortage or constraint in one, it leads to a shortage and constraint in the other. Educating consumers about the importance of protecting these resources and inspiring the next generation of innovators to address these challenges is crucial. With Power Over Energy’s new website and more Power Play Quiz Games, the initiative creates an engaging environment for educating website visitors,” said Dr. Michael Webber, Sid Richardson Chair in Public Affairs and the John J. McKetta Centennial Energy Chair in Engineering at the University of Texas at Austin.

    About Power Over Energy
    Power Over Energy is an energy literacy initiative dedicated to increasing awareness about the impact of our current energy and water consumption, the benefits of energy efficiency, the interconnectedness between energy and water, and the importance of modernizing the electricity grid and deploying smart city technologies. Explore the new website at poweroverenergy.org and test your knowledge by playing the Power Play Quiz Game.

    About Itron
    Itron is a proven global leader in energy, water, smart city, IIoT and intelligent infrastructure services. For utilities, cities and society, we build innovative systems, create new efficiencies, connect communities, encourage conservation and increase resourcefulness. By safeguarding our invaluable natural resources today and tomorrow, we improve the quality of life for people around the world. Join us: www.itron.com.

    Itron® and the Itron Logo are registered trademarks of Itron, Inc in the United States and other countries and regions. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

    For additional information, contact:

    Itron, Inc.

    Alex Morin
    Corporate Communications Specialist
    PR@Itron.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/63bca064-fdf8-4bc8-a0ea-f11bb4eb0399

    The MIL Network –

  • MIL-OSI: Matador Technologies Provides Corporate Update Ahead of Digital Asset Platform

    Source: GlobeNewswire (MIL-OSI)

    Key Highlights

    • Digital Asset Platform Introduction: Matador is preparing to launch its Digital Asset Platform, enabling the inscription of digital art onto physical gold. The platform integrates precious metals-based art with blockchain infrastructure using Bitcoin Ordinals, a protocol built on the Bitcoin Network.
    • “Grammies” – Digital Gold Collectibles: The first product, “Grammies,” consists of 1-gram gold units with digital inscriptions recorded on Bitcoin. These units are tradable and transferable via Ordinals-compatible Bitcoin wallets and can be converted into physical gold-based artwork.
    • Timing and Market Context: Gold has recently exceeded ~USD$3,400/oz, providing a favorable environment for the Digital Gold Product launch, particularly as investors explore alternative stores of value amid global macroeconomic uncertainty.
    • Team and Infrastructure Updates: To support product development, Matador appointed Antoine De Vuyst as CTO and “dxxmsdxy” as Lead Designer. Bitcoin custody is managed by BitGo, and physical gold is stored at the Royal Canadian Mint.
    • Ongoing Strategy: In addition to the gold product, Matador intends to expand to other precious metals. The Company holds 64 BTC (including equivalents) and 2 kg of gold as part of its broader treasury strategy.

    TORONTO, April 22, 2025 (GLOBE NEWSWIRE) — Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA, OTCQB: MTDTF), a Bitcoin Ecosystem company, is providing a corporate update as it moves toward the launch of its Digital Asset Platform, beginning with a gold-based product on the Bitcoin network, with an anticipated launch in the next couple of months. Over the past quarter, the Company has made progress in product development, treasury allocation, team expansion, and market engagement.

    Digital Asset Platform and Product Update

    The Company’s upcoming launch features “Grammies,” 1-gram units of physical gold linked to digital inscriptions using Bitcoin Ordinals. Users will be able to:

    • View Grammies in a personalized dashboard
    • Buy and sell in a secure trading environment
    • Transfer Grammies to Ordinals-compatible Bitcoin wallets
    • Print Grammies into physical gold artwork

    The launch coincides with a period of strong gold pricing—recently surpassing USD$3,400 per ounce (sourced from Reuters) —and increased interest in physical-digital asset convergence.

    “Gold has always been a store of value and we believe Bitcoin is the future of value transfer. Matador is where the two converge,” said Mark Moss, Chief Visionary Officer of Matador Technologies.

    In a press release issued on March 31, 2025, the Company appointed Antoine De Vuyst (CTO) and the pseudonymous artist “dxxmsdxy” (Lead Designer), both with experience in Bitcoin and Ordinals-related development. This team expansion aims to support secure and user-focused platform delivery.

    Matador expects the Grammies product to be the first of multiple offerings centered on precious metals and digital inscription. Silver and other metals are under consideration for future phases.

    Treasury and Capital Strategy

    As part of its asset diversification approach, Matador has continued to accumulate Bitcoin and physical gold. Since January 2025, the Company has added over 40 Bitcoin, bringing total holdings to roughly 64 BTC and BTC-equivalents. These purchases were funded with available cash.

    The Company also holds 2 kilograms of physical gold, acquired via Kitco Metals Inc, as announced in a press release issued on January 24, 2025. Matador remains debt-free.

    Custody and Market Access

    As announced in a press release issued on February 10, 2025, for custody of its Bitcoin, Matador has engaged BitGo Trust Company, which provides cold storage and multi-signature protection. Gold is held at the Royal Canadian Mint in Ottawa.

    To support market liquidity and visibility, Matador retained Independent Trading Group Inc. (ITG) as a market maker on the TSX Venture Exchange which was announced in a press release dated January 8, 2025. On March 18, 2025 the Company announced it listed on the OTCQB under the symbol MTDTF, broadening access to U.S.-based investors.

    Industry Engagement

    As indicated in a press release issued February 18, 2025, Matador participated in several recent industry events aimed at strengthening relationships with investors, partners, and other stakeholders, including:

    • Max & Stacy’s Bitcoin Golf Invitational (El Salvador)
    • The Inaugural Crypto Ball (Washington, D.C.)
    • AlphaNorth Capital Events (Bahamas and Whistler, Canada)
    • Centurion One’s Growth Conference (Toronto)
    • PDAC 2025 (Toronto)

    These engagements provided perspective on evolving market trends and helped reinforce Matador’s role within the Bitcoin, gold, and blockchain ecosystems.

    Looking Ahead

    Matador continues to advance its goal of developing a platform that combines real-world assets with blockchain utility. Supported by a clean balance sheet, growing team, and product focus, the Company is positioning itself at the intersection of traditional and digital finance.

    “We’ve made steady progress this quarter,” said Deven Soni, CEO of Matador Technologies. “We’re continuing to build the foundation needed to support the rollout of our Digital Gold Product and broader asset digitization strategy.”

    For additional information, please contact:

    Media Contact:
    Sunny Ray
    President
    Email: sunny@matador.network

    Phone: 647-932-2668

    About Matador Technologies Inc.
    Matador Technologies Inc. leverages blockchain technology to digitize assets like gold. Focused on building innovative financial solutions, Matador is at the forefront of integrating blockchain technology to preserve and grow value. Matador’s digital gold platform aims to democratize the gold buying experience, combining the best of modern technology and time-proven assets, to create a platform that will allow users to buy, sell, and store gold 24/7 in a convenient and engaging way.

    Cautionary Statement Regarding Forward-Looking Information

    NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

    Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks associated with the implementation of the Company’s treasury management strategy and the launch of its mobile application as currently proposed or at all. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including with respect to the potential acquisition of Bitcoin and/or US dollars, the pricing of such acquisitions and the timing of future operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

    The MIL Network –

  • MIL-OSI: Auburn National Bancorporation, Inc. Reports First Quarter Net Earnings

    Source: GlobeNewswire (MIL-OSI)

    First Quarter 2025 Highlights:

    • Net income of $1.5 million, or $0.44 per share, compared to $1.4 million, or $0.39 per share in 1Q 2024
    • Net interest income (tax-equivalent) was $7.1 million, an increase of 6% compared to 1Q 2024
    • Net interest margin (tax-equivalent) of 3.20%, compared to 3.04% in 1Q 2024
    • Strong balance sheet –
      • Credit quality – Nonperforming assets to total assets were 0.05%
      • Liquidity – Cash and cash equivalents to total assets increased to 11.90%, compared to 7.41% at March 31, 2024
      • Capital – Tangible Common Equity (“TCE”) to total assets improved to 8.34%, compared to 7.61% at March 31, 2024

    AUBURN, Ala., April 22, 2025 (GLOBE NEWSWIRE) — Auburn National Bancorporation, Inc. (Nasdaq: AUBN) reported net earnings of $1.5 million, or $0.44 per share, for the first quarter of 2025, compared to $1.6 million, or $0.45 per share, for the fourth quarter of 2024, and $1.4 million, or $0.39 per share, for the first quarter of 2024.

    “Our first quarter results reflect strong credit quality and continued improvement in our net interest margin,” said David A. Hedges, President and CEO. “While loan demand has slowed, we remain optimistic that our net interest margin will continue to improve as loans and securities re-price. Once again, our capital and liquidity remain strong and we are well positioned to meet the needs of our customers,” continued Mr. Hedges.
            
    Net interest income (tax-equivalent) was $7.1 million in the first quarter of 2025, compared to $7.0 million in the fourth quarter of 2024, and $6.7 million in the first quarter of 2024. The increase compared to the fourth quarter of 2024 was primarily due to improvements in our net interest margin, partially offset by a decrease in average interest earning assets of 1%. The increase compared to the first quarter of 2024 was primarily due to improvements in our net interest margin and an increase in average interest earning assets of 1%.

    Net interest margin (tax-equivalent) was 3.20% in the first quarter of 2025, compared to 3.09% in the fourth quarter of 2024, and 3.04% in the first quarter of 2024. The increase compared to the fourth quarter of 2024 was primarily due to improvements in our yield on interest-earning assets and a decrease in our cost of interest-bearing deposits. The increase compared to the first quarter of 2024 was primarily due to a more favorable asset mix, and improvements in our yield on interest-earning assets, which outpaced increases in the cost of our interest-bearing deposits.

    Nonperforming assets were $0.5 million, or 0.05% of total assets, at March 31, 2025 and December 31, 2024, respectively, compared to $0.9 million, or 0.09% of total assets, at March 31, 2024.

    The Company recorded a negative provision for credit losses of $(10) thousand in the first quarter of 2025, compared to a negative provision of $(48) thousand in the fourth quarter of 2024 and a charge to provision for credit losses of $334 thousand in the first quarter of 2024.

    At March 31, 2025, the Company’s allowance for credit losses was $6.8 million, or 1.20% of total loans, compared to $6.9 million, or 1.22% of total loans, at December 31, 2024, and $7.2 million, or 1.27% of total loans, at March 31, 2024.

    Noninterest income was $0.8 million for the first quarter of 2025, compared to $0.8 million for the fourth quarter of 2024, and $0.9 million in the first quarter of 2024. The decrease compared to both the fourth quarter and first quarter of 2024 was primarily due to decreases in mortgage lending income and other noninterest income.

    Noninterest expense was $5.9 million for the first quarter of 2025, compared to $5.5 million for the fourth quarter of 2024, and $5.7 million in the first quarter of 2024. The increase from the fourth quarter of 2024 was primarily related to routine increases in salaries and benefits expense and an increase in net occupancy expense attributable to repairs and maintenance costs and seasonal fluctuations in utilities costs and parking revenue. The increase compared to the first quarter of 2024 was primarily related to routine increases in salaries and benefits expense.

    The provision for income tax expense was $0.4 million for the first quarter of 2025, compared to income tax expense of $0.8 million for the fourth quarter of 2024, and income tax expense of $0.2 million for the first quarter of 2024.

    The effective tax rate for the first quarter of 2025 was 20.40%, compared to 34.73% for the fourth quarter of 2024 and 10.68% for the first quarter of 2024. Except for the fourth quarter of 2024, the Company’s effective income tax rate is principally affected by tax-exempt earnings from the Company’s investments in municipal securities and loans, bank-owned life insurance, and New Markets Tax Credits. The provision for income tax expense and the effective tax rate for the fourth quarter of 2024 included discrete tax items associated with provision to return adjustments in conjunction with the final 2023 tax return filing, which resulted in additional tax expense. Excluding these discrete items, the effective tax rate for the fourth quarter of 2024, would have been 21.55%.

    Total assets were $996.8 million at March 31, 2025, compared to $977.3 million at December 31, 2024 and $979.0 million at March 31, 2024. Loans, net of unearned income were $560.7 million at March 31, 2025, compared to $564.0 million at December 31, 2024 and $567.5 million at March 31, 2024. The decrease is primarily due to payoffs in the commercial and industrial and commercial real estate loan portfolio segments exceeding growth in construction and land development loans. Total deposits were $910.5 million at March 31, 2025, compared to $895.8 million at December 31, 2024, and $899.7 million at March 31, 2024. The increase compared to both December 31, 2024 and March 31, 2024, was primarily related to growth in both noninterest and interest-bearing demand deposit account balances.

    At March 31, 2025, the Company’s consolidated stockholders’ equity (book value) was $83.1 million or $23.79 per share, compared to $78.3 million, or $22.41 per share, at December 31, 2024, and $74.5 million, or $21.32 per share, at March 31, 2024. The increase from December 31, 2024 was primarily driven by other comprehensive income of $4.2 million due to a decrease in unrealized losses on securities available-for-sale, net of tax, plus net earnings of $1.5 million. These increases in stockholders’ equity were partially offset by cash dividends paid of $0.9 million. Unrealized losses on our securities portfolio vary with market interest rates and do not affect the Bank’s capital for regulatory capital purposes.

    The Company’s tangible common equity (“TCE”) ratio or total equity to total assets ratio was 8.34% at March 31, 2025, compared to 8.01% at December 31, 2024, and 7.61% at March 31, 2024. All of the Company’s marketable securities are classified as available-for-sale. Therefore, any changes in the fair value of the Company’s securities portfolio are reflected in total equity, net of tax, under generally accepted accounting principles.

    The Company paid cash dividends of $0.27 per share in the first quarter of 2025. At March 31, 2025, the Bank’s regulatory capital ratios were well above the minimum amounts required to be “well capitalized” under current regulatory standards.

    About Auburn National Bancorporation, Inc.

    Auburn National Bancorporation, Inc. (the “Company”) is the parent company of AuburnBank (the “Bank”), with total assets of approximately $996.8 million. The Bank is an Alabama state-chartered bank that is a member of the Federal Reserve System, which has operated continuously since 1907. Both the Company and the Bank are headquartered in Auburn, Alabama. The Bank conducts its business in East Alabama, including Lee County and surrounding areas. The Bank currently operates seven full-service branches in Auburn, Opelika, Valley, and Notasulga, Alabama. The Bank also operates a loan production office in Phenix City, Alabama. Additional information about the Company and the Bank may be found by visiting www.auburnbank.com.

    Cautionary Notice Regarding Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. All statements with respect to our objectives, expectations, anticipations, estimates and intentions and all statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “designed”, “plan,” “point to,” “project,” “could,” “intend,” “target,” “seek” and other similar words and expressions of the future. Forward looking statements, include, without limitation, statements about future financial and operating results, costs and revenues, government policies and changes in policies, including Federal Reserve monetary and regulatory actions. Forward looking statements also include statements about economic conditions generally in our markets and which may affect us, loan demand, mortgage lending activity, changes in the mix of our earning assets (including those generating tax exempt income or tax credits) and our mix and cost of deposits and wholesale liabilities, net interest income and margin, yields on earning assets, the market values and performance of securities held, effects of inflation and employment, including Federal Reserve monetary policies.

    Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, achievements and/or financial condition of the Company or the Bank to be materially different from future results, performance, achievements or financial condition expressed or implied by such forward-looking statements. Forward looking statements may not be realized due numerous factors, including, without limitation, changes in employment levels, actual and expected changes in interest rates and interest rate expectations (generally and those applicable to our assets and liabilities) and the shape of the yield curve, and related changes in our asset values, especially investment securities, noninterest income, loan performance, loan deferrals and modifications, nonperforming assets, other real estate owned, provision for credit losses, including possible adjustments to the fair values of securities available for sale, charge-offs, collateral values, credit quality, asset sales, insurance claims, and market trends. You should not expect us to update any forward-looking statements.

    All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, together with those described in the “Cautionary Note Regarding Forward-Looking Statements” and the risks and uncertainties described under “Risk Factors” and elsewhere in our annual report on Form 10-K for the year ended December 31, 2024 and otherwise in our other SEC reports and filings.

    Explanation of Certain Unaudited Non-GAAP Financial Measures

    This press release contains financial information determined by methods other than U.S. generally accepted accounting principles (“GAAP”). The attached financial highlights include certain designated net interest income amounts presented on a tax-equivalent basis, a non-GAAP financial measure, and the presentation and calculation of the efficiency ratio, a non-GAAP measure. Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes the presentation of net interest income on a tax-equivalent basis provides comparability of net interest income from both taxable and tax-exempt sources and facilitates comparability within the industry. Similarly, the efficiency ratio is a common measure that facilitates comparability with other financial institutions. Although the Company believes these non-GAAP financial measures enhance investors’ understanding of its business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP. Along with the attached financial highlights, the Company provides reconciliations between the GAAP financial measures and these non-GAAP financial measures.

    Financial Highlights (unaudited)               Quarter ended
                March 31,     December 31,   March 31,
    (Dollars in thousands, except per share amounts)     2025     2024   2024
    Results of Operations                
    Net interest income (a)   $ 7,062       6,988     6,677  
    Less: tax-equivalent adjustment     17       19     20  
      Net interest income (GAAP)     7,045       6,969     6,657  
    Noninterest income     747       845     887  
      Total revenue     7,792       7,814     7,544  
    Provision for credit losses     (10 )     (48 )   334  
    Noninterest expense     5,880       5,472     5,675  
    Income tax expense     392       830     164  
    Net earnings   $ 1,530       1,560     1,371  
                           
    Per share data:                
    Basic and diluted net earnings   $ 0.44       0.45     0.39  
    Cash dividends declared   $ 0.27       0.27     0.27  
    Weighted average shares outstanding:                
      Basic and diluted     3,493,699       3,493,699     3,493,663  
    Shares outstanding, at period end     3,493,699       3,493,699     3,493,699  
    Stockholders’ equity (book value)   $ 23.79       22.41     21.32  
    Common stock price:                
      High   $ 23.37       24.57     21.55  
      Low     20.36       20.06     18.82  
      Period-end     21.59       23.49     19.27  
      To earnings ratio (c)     11.42   x   12.77     83.78  
      To book value     91   %   105     90  
    Performance ratios:                
    Return on average equity (annualized)     7.83   %   7.49     7.13  
    Return on average assets (annualized)     0.62   %   0.63     0.56  
    Dividend payout ratio     61.36   %   60.00     69.23  
    Other financial data:                
    Net interest margin (a)     3.20   %   3.09     3.04  
    Effective income tax rate     20.40   %   34.73     10.68  
    Efficiency ratio (b)     75.30   %   69.86     75.03  
    Asset Quality:                
    Nonperforming assets:                
      Nonperforming (nonaccrual) loans   $ 520       503     878  
        Total nonperforming assets   $ 520       503     878  
                           
    Net charge-offs (recoveries)   $ 64       (16 )   (67 )
                           
    Allowance for credit losses as a % of:                
      Loans     1.20   %   1.22     1.27  
      Nonperforming loans     1,298   %   1,366     822  
    Nonperforming assets as a % of:                
      Loans and other real estate owned     0.09   %   0.09     0.15  
      Total assets     0.05   %   0.05     0.09  
    Nonperforming loans as a % of total loans     0.09   %   0.09     0.15  
    Annualized net charge-offs (recoveries) as a % of average loans     0.05   %   (0.01 )   (0.05 )
    Selected average balances:                
    Securities   $ 240,588       255,168     267,606  
    Loans, net of unearned income     566,082       567,634     560,757  
    Total assets     987,272       991,275     976,930  
    Total deposits     906,805       904,605     897,051  
    Total stockholders’ equity     78,158       83,325     76,948  
    Selected period end balances:                
    Securities   $ 242,468       243,012     260,770  
    Loans, net of unearned income     560,650       564,017     567,520  
    Allowance for credit losses     6,750       6,871     7,215  
    Total assets     996,786       977,324     979,039  
    Total deposits     910,503       895,824     899,673  
    Total stockholders’ equity     83,115       78,292     74,489  
     
    (a) Tax equivalent. See “Explanation of Certain Unaudited Non-GAAP Financial Measures” and “Reconciliation
      of GAAP to non-GAAP Measures (unaudited).”
    (b) Efficiency ratio is the result of noninterest expense divided by the sum of noninterest income and
      tax-equivalent net interest income. See “Reconciliation of GAAP to non-GAAP Measures (unaudited)” below.
    (c) Calculated by dividing period end share price by earnings per share for the previous four quarters.
     
    Reconciliation of GAAP to non-GAAP Measures (unaudited):
                        Quarter ended
          March 31,
    		     December 31,
    		   March 31,
    (Dollars in thousands, except per share amounts)     2025
    		     2024
    		   2024
    Net interest income, as reported (GAAP)   $ 7,045       6,969     6,657  
    Tax-equivalent adjustment     17       19     20  
    Net interest income (tax-equivalent)   $ 7,062       6,988     6,677  
     

    The MIL Network –

  • MIL-OSI: MoneyHero Offers End-to-End Car Insurance Purchase Journey in Hong Kong through Strategic Partnership with bolttech

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, April 22, 2025 (GLOBE NEWSWIRE) — MoneyHero Limited (NASDAQ: MNY) (“MoneyHero” or the “Company”), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced the launch of its end-to-end car insurance purchasing journey in Hong Kong. In collaboration with global insurtech bolttech, this innovative enhancement enables customers to compare and receive real-time insurance quotes while seamlessly completing their entire car insurance purchase directly on MoneyHero’s platform—an industry milestone in Hong Kong.

    Enhancing Car Insurance Experience with AI Capabilities

    The enhanced platform allows customers to:

    • Compare real-time quotes from leading insurers
    • Customize coverage options based on their needs
    • Purchase policies instantly without redirection to third-party sites
    • Receive immediate confirmation and policy issuance

    By integrating bolttech’s advanced insurance exchange technology, MoneyHero ensures accuracy, efficiency, and a fast, hassle-free experience for customers. This launch marks a major advancement for MoneyHero, building on its initial strategic partnership with bolttech previously announced on October 8, 2024, which introduced real-time car insurance pricing comparisons. With the introduction of a fully integrated purchasing experience, customers can now enjoy unparalleled convenience, a streamlined process, and expedited policy issuance.

    Hong Kong’s motor vehicle business recorded gross written premiums of over HK$5 billion1, with insurance penetration in Hong Kong reaching 17.2% in 20232 — offering a compelling opportunity for transformation through data-driven, embedded distribution. For insurers, this enhancement translates to a higher volume of policies sold and improved customer acquisition, solidifying MoneyHero’s position as a valuable digital distribution partner in the evolving insurance landscape.

    A Stronger Digital Insurance Offering

    The introduction of this fully integrated car insurance journey aligns with MoneyHero’s strategic pillars of leading the insurance brokerage and enhancing its conversion expertise. MoneyHero’s platform has already demonstrated impressive results with travel insurance, achieving conversion rates up to two times higher due to its seamless end-to-end purchasing model. MoneyHero anticipates similar success with car insurance, which will drive increased sales for insurers and contribute to robust revenue growth.

    Strong Insurance Growth and Market Expansion

    MoneyHero’s insurance business has emerged as a significant growth driver, with revenues from this vertical increasing by 54% year-over-year in the first nine months of 2024. The Company expects full-year 2024 growth in its insurance business surpassing its Q3 level of 9.5% of its group revenue, driven by the expansion of end-to-end purchasing journeys across multiple insurance categories.

    This enhancement builds on the success of MoneyHero’s travel insurance platform, which has experienced strong adoption and improved conversion rates due to its streamlined purchasing process. In the upcoming quarters, the Company plans to further enhance insurance purchasing experience across other markets and product lines, ensuring the Company remains at the forefront of innovation in the industry.

    Rohith Murthy, CEO of MoneyHero, said: “Customers increasingly seek a seamless experience where they can compare, select, and purchase insurance all in one place. With this launch in Hong Kong, we are not only streamlining the car insurance shopping process—we are fully embracing the entire purchasing journey. Our data indicates that end-to-end insurance transactions yield significantly higher conversion rates, and we anticipate strong adoption in Hong Kong. This initiative represents a natural evolution of our partnership with bolttech3, and we believe we have found the perfect partner to enhance our offerings. Together, we are taking a pivotal step toward positioning MoneyHero as the go-to destination for digital insurance in the region. With bolttech’s technological expertise and commitment to innovation, we are confident in our ability to significantly improve the purchase experience for our customers.”

    Philip Weiner, CEO for Asia and Middle East of bolttech added: “Following our partnership announcement late last year, we are excited to be heading into the next stage with MoneyHero. Our insurance exchange platform will enable them to deliver a more intuitive and transparent user experience, enhancing the overall car insurance purchasing journey for consumers in Hong Kong. Together with MoneyHero, we look forward to bringing more value-added services to consumers.”

    About MoneyHero Group

    MoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines.  Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory.  The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia’s largest operating B2C platform. MoneyHero had over 270 commercial partner relationships as at September 30, 2024, and had approximately 7.4 million Monthly Unique Users across its platform for the three months ended September 30, 2024. The Company’s backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving Greater Southeast Asia’s digital economy, please visit www.MoneyHeroGroup.com.

    About bolttech

    bolttech is a global insurtech with a mission to build the world’s leading, technology-enabled ecosystem for protection and insurance. bolttech serves customers in more than 35 markets across Asia, Europe, North America, and Africa.

    With a full suite of digital and data-driven capabilities, bolttech powers connections between insurers, distributors, and customers to make it easier and more efficient to buy and sell insurance and protection products.

    For more information, please visit www.bolttech.io.

    Forward Looking Statements

    This document includes “forward-looking statements” within the meaning of the United States federal securities laws and also contains certain financial forecasts and projections. All statements other than statements of historical fact contained in this communication, including, but not limited to, statements as to the Group’s growth strategies, future results of operations and financial position, market size, industry trends and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which are all subject to change due to various factors including, without limitation, changes in general economic conditions. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this communication, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The forward-looking statements and financial forecasts and projections contained in this communication are subject to a number of factors, risks and uncertainties. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in business, market, financial, political and legal conditions; the Company’s ability to attract new and retain existing customers in a cost effective manner; competitive pressures in and any disruption to the industries in which the Company and its subsidiaries (the “Group”) operates; the Group’s ability to achieve profitability despite a history of losses; and the Group’s ability to implement its growth strategies and manage its growth; the Group’s ability to meet consumer expectations; the success of the Group’s new product or service offerings; the Group’s ability to attract traffic to its websites; the Group’s internal controls; fluctuations in foreign currency exchange rates; the Group’s ability to raise capital; media coverage of the Group; the Group’s ability to obtain adequate insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) and general economic conditions in the countries in which the Group operates; the Group’s ability to attract and retain management and skilled employees; the impact of the COVID-19 pandemic or any other pandemic on the business of the Group; the success of the Group’s strategic investments and acquisitions, changes in the Group’s relationship with its current customers, suppliers and service providers; disruptions to the Group’s information technology systems and networks; the Group’s ability to grow and protect its brand and the Group’s reputation; the Group’s ability to protect its intellectual property; changes in regulation and other contingencies; the Group’s ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; potential and future litigation that the Group may be involved in; and unanticipated losses, write-downs or write-offs, restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required and technological advancements in the Group’s industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s annual report for the year ended December 31, 2023 on Form 20-F (File No.: 001-41838), registration statement on Form F-1 (File No.: 333-275205), and other documents to be filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, there may be additional risks that the Company currently does not know, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements reflect the Company’s expectations, plans, projections or forecasts of future events and view. If any of the risks materialize or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company anticipates that subsequent events and developments may cause their assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law. The inclusion of any statement in this document does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. In addition, the analyses of the Company contained herein are not, and do not purport to be, appraisals of the securities, assets, or business of the Company.

    For MoneyHero inquiries, please contact:

    Investor Relations:
    MoneyHero IR Team
    IR@MoneyHeroGroup.com

    Media Relations:
    MoneyHero PR Team
    Press@MoneyHeroGroup.com

    For bolttech inquiries, please contact:
    FTI Consulting on behalf of bolttech
    bolttech@fticonsulting.com

    _______________________________

    1 Insurance Authority, Market Overview, https://www.ia.org.hk/en/infocenter/statistics/files/GB_Market_Overview_2023_Eng_Final.pdf

    2 Financial Services and the Treasury Bureau, https://www.fstb.gov.hk/en/financial_ser/insurance-industry.htm

    3 An affiliate of the Company.

    The MIL Network –

  • MIL-OSI: Byrna Technologies Announces the Debut of the Byrna CL, the World’s Most Concealable Less-Lethal Launcher

    Source: GlobeNewswire (MIL-OSI)

    ANDOVER, Mass., April 22, 2025 (GLOBE NEWSWIRE) — Byrna Technologies Inc. (“Byrna” or the “Company”) (Nasdaq: BYRN), a personal defense technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today announced the official launch of its highly anticipated Byrna Compact Launcher (“CL”). The Company will begin accepting orders for this revolutionary new launcher on April 24, with product shipments beginning May 1.

    Weighing just 0.76 pounds and measuring only 6.81 inches in length – smaller than a smartphone – the Byrna CL is the most concealable less-lethal launcher ever made. Along with its compact form, the CL delivers the same powerful energy density on impact as Byrna’s most advanced model to date, the Byrna LE. Engineered for everyday carry, the CL offers a sleek, no-snag design for quick unholstering and is red dot compatible for enhanced accuracy.

    “The Byrna Compact Launcher is a major step forward in less-lethal innovation,” said Bryan Ganz, CEO of Byrna. “Our team set out to design a product that would appeal to both new and experienced users who want maximum stopping power in a smaller, more concealable form factor. We’re proud to bring to market a launcher that is 38% smaller than our flagship Byrna SD and yet delivers the same force per square inch as our LE model.”

    Key Features and Technical Specifications:

    • Size: 6.81″ L x 5.1″ H x 1.18″ W
    • Weight: 0.76 lbs
    • Projectile Speed: 400 feet per second
    • Effective Range: 60 feet
    • Caliber: Fires proprietary .61 caliber projectiles engineered to deliver the same energy density as .68 caliber rounds
    • Shot Capacity: 15 rounds per 8g CO₂ cartridge
    • Materials: Constructed from high-grade aluminum, steel, and brass
    • Compatibility: Red dot ready, customizable with accessories

    The CL’s new .61 caliber projectile will be exclusive to Byrna and produced at the Company’s new ammunition facility in Fort Wayne, Indiana. Conceived, designed and manufactured in America from 90% U.S. content, the Byrna CL is the Company’s first truly All-American launcher and highlights Byrna’s progress to onshore manufacturing.

    Pricing and Availability: The Byrna Compact Launcher has a base MSRP of $549.99. Customers can join the waitlist starting today here. Launchers will be available for order beginning April 24 and the Company and its dealers will begin shipping on May 1.

    To experience the CL in person, customers can visit select Byrna stores and Premier Dealers nationwide. Use the store locator to find the nearest in-store demo experience.

    About Byrna Technologies Inc.
    Byrna is a technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions. For more information on the Company, please visit the corporate website here or the Company’s investor relations site here. The Company is the manufacturer of the Byrna® SD personal security device, a state-of-the-art handheld CO2 powered launcher designed to provide a less-lethal alternative to a firearm for the consumer, private security, and law enforcement markets. To purchase Byrna products, visit the Company’s e-commerce store.

    Forward-Looking Statements
    This news release contains “forward-looking statements” within the meaning of the securities laws. All statements contained in this news release, other than statements of current and historical fact, are forward-looking. Often, but not always, forward-looking statements can be identified by the use of words such as “plans,” “expects,” “intends,” “will,” “anticipates,” and “believes” and statements that certain actions, events or results “may,” “could,” “would,” “should,” “might,” “occur,” “be achieved,” or “will continue to.” Forward-looking statements in this news release include, but are not limited to, statements relating to the expected timing of orders and shipments of the Byrna CL, expected performance, Byrna’s progress to onshore manufacturing, and pricing. Forward-looking statements include descriptions of currently occurring matters which may continue in the future. Forward-looking statements are not, and cannot be, a guarantee of future results or events. Forward-looking statements are based on, among other things, opinions, assumptions, estimates, and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies, and other factors that may cause actual results and events to be materially different from those expressed or implied.

    Any number of risk factors could affect our actual results and cause them to differ materially from those expressed or implied by the forward-looking statements in this news release, including, but not limited to, potential cancellations of existing or future orders including as a result of any fulfillment delays, product rollout issues, introduction of competing products, negative publicity, supply chain constraints, other factors, changes in the markets for security products and non-lethal defense technology could have a material adverse impact on our business, financial condition and results of operations. The order in which these factors appear should not be construed to indicate their relative importance or priority. We caution that these factors may not be exhaustive; accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. Investors should carefully consider these and other relevant factors, including those risk factors in Part I, Item 1A, (“Risk Factors”) in our most recent Form 10-K, should understand it is impossible to predict or identify all such factors or risks, should not consider the foregoing list, or the risks identified in our SEC filings, to be a complete discussion of all potential risks or uncertainties, and should not place undue reliance on forward-looking information. The Company assumes no obligation to update or revise any forward-looking information, except as required by applicable law.

    Investor Contact:
    Tom Colton and Alec Wilson
    Gateway Group, Inc.
    949-574-3860
    BYRN@gateway-grp.com

    A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b56d0767-d8bb-4ce7-9121-c175536afc18

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c16cc8ad-1bd0-4580-a20e-a57be1071da6

    The MIL Network –

  • MIL-OSI: Atsign Unveils Invisible SSH, Powered by NoPorts, Fortifying Security Against Emerging Vulnerabilities

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., April 22, 2025 (GLOBE NEWSWIRE) — Atsign, the leader in pre-emptive security solutions, today announced Invisible SSH, leveraging the groundbreaking NoPorts technology. This advancement renders Secure Shell (SSH) connections invisible to external threats by eliminating the need for open ports, effectively neutralizing the attack surface and providing a robust defense against pre-authentication attacks, including zero-day vulnerabilities, such as the recently disclosed critical flaw in Erlang/OTP SSH.

    Traditional SSH relies on open ports, creating potential entry points for malicious actors. The newly discovered CVE-2025-32433 vulnerability in Erlang/OTP SSH, with a maximum severity score, underscores the inherent risks associated with this conventional approach. By eliminating open ports, NoPorts makes SSH invisible, ensuring that even if underlying SSH implementations contain vulnerabilities, they cannot be exploited from the network, offering a critical layer of pre-emptive security.

    “The increasing sophistication and frequency of cyberattacks demand a paradigm shift in how we approach security,” said Colin Constable, CTO at Atsign. “The recent critical vulnerability in Erlang/OTP SSH is a stark reminder that relying on patching alone is a reactive measure. Our Invisible SSH, powered by NoPorts, offers a proactive and fundamental security advantage by making the connection point invisible in the first place. This eliminates the network attack vector, providing peace of mind regardless of underlying software vulnerabilities.”

    Atsign’s NoPorts establishes secure, peer-to-peer connections without requiring any inbound ports to be open on firewalls or routers. This innovative approach creates an inherently more secure environment for remote access and management. By making SSH invisible, organizations can significantly reduce their risk exposure and enhance their overall security posture.

    Key benefits of Atsign’s Invisible SSH powered by NoPorts include:

    • Elimination of Attack Surface – By closing all inbound ports, NoPorts removes the primary pathway for network-based attacks targeting SSH.
    • Pre-emptive Security – Protects against both known and zero-day vulnerabilities in SSH implementations, as there are no open doors for attackers to exploit.
    • Simplified Security Management – Reduces the complexity of managing firewall rules and port forwarding, streamlining security operations.
    • Enhanced Privacy – Prevents port scanning and enumeration attempts, making the presence of an SSH service undetectable.
    • Seamless Integration – Can be implemented with existing SSH clients and servers with minimal configuration changes.

    The recent disclosure of the critical Erlang/OTP SSH vulnerability highlights the urgent need for solutions like NoPorts.

    About NoPorts

    NoPorts eliminates network & security vulnerabilities by securing connections between people, entities, and things making them invisible to would-be attackers by eliminating attack network surfaces. Built on Atsign’s atPlatform, NoPorts provides a zero trust architecture, end-to-end encryption, and no reliance on cumbersome security layers, enabling seamless and secure communication across virtually any environment. Organizations gain scalability, operational efficiency, and stronger security—all while reducing costs and complexity. For more information, visit NoPorts.com.

    About Atsign

    At Atsign, we believe that people, entities, and things—including AI—should connect securely and directly, while always being invisible to bad actors. By eliminating the need for open ports and centralized servers, the atPlatform empowers developers and organizations to build applications with “invisible” security built in, placing data and device control back into the hands of their owners. Atsign is the creator of the atPlatform, the most robust infrastructure available for “invisible networking” and secure, private, peer-to-peer connectivity. Learn more at Atsign.com.

    For More Information Contact

    Scott Hetherington
    Atsign
    Scott@Atsign.com
    844-827-0985

    The MIL Network –

  • MIL-OSI: Exowatt Closes $70 Million in Series A Funding to Deploy and Scale the Exowatt P3

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, April 22, 2025 (GLOBE NEWSWIRE) — Exowatt, a next-generation renewable energy company, today announced the close of its $70 million Series A round, bringing the company’s total funding to $90 million to date. The Series A round was led by Felicis, a leading venture capital firm in Silicon Valley. Of the $70 million raised, $35 million comes from debt provided by HSBC Innovation Banking and other lending partners—this marks further commitment following an initial debt facility established during the seed round for Exowatt in August of 2024—while the remaining $35 million comes from equity. Additional investors include Andreesen Horowitz, 8090 Industries, Starwood Capital, Thrive Capital, MCJ Collective, MVP Ventures, GOAT VC, and StepStone Group. Atomic and a16z returned to make additional investments following their contributions to Exowatt’s Seed round, which included notable angel investors such as Sam Altman, CEO of Open AI and actor and environmentalist, Leonardo DiCaprio.

    The close of Exowatt’s Series A round comes just months after launching its flagship product, The Exowatt P3, during the RE+ conference last September in Anaheim, CA. The Exowatt P3 is a modular, dispatchable solar solution capable of delivering up to 24 hours of power daily. The P3 captures solar energy as heat in a long-duration battery and converts it into electricity on demand, making it ideal for data centers and other commercial and industrial (C&I) applications. Funding from Series A will support the domestic production and deployment of the Exowatt P3, making the technology far more accessible to the industry. Exowatt has a demand backlog of over 90 GWh (gigawatt hours) from data centers, energy developers and hyperscalers across the U.S. Several commercial deployments will be going live in 2025 across a number of locations across the U.S.

    “We’ve been overwhelmed with the amount of interest in the P3 since we launched it to market late last year,” said Hannan Happi, CEO of Exowatt. “The additional funding will help us accelerate commercialization and deployment of our solution for the data center energy needs and help us scale our manufacturing capacity as fast as possible to address the almost insatiable demand for power from our customers.”

    The expansion of the data center and AI market has become one of the Trump administration’s priorities since January, beginning with the launch of Project Stargate earlier this year. This funding will enable Exowatt to continue providing domestically manufactured products, which will contribute significant amounts of power to data centers across the country, and to assist in reaching America’s goal of energy dominance.

    “With power consumption from AI data centers growing fast, we urgently need an alternative American energy supply chain that’s sustainable and accessible,” said Aydin Senkut, founder and managing partner of Felicis. “Exowatt’s technology will lead the future of power generation and improve energy efficiency across the country.”

    “Exowatt’s Series A fundraise is the culmination of incredible progress and represents the next phase of the company’s journey,” said Matt Perlow of HSBC Innovation Banking. “We are proud to be expanding our support for the Exowatt team and their mission to create a more sustainable future for data center power generation.”

    Power generation demand from data centers is predicted to increase by 150% by 2030, and Exowatt is powering the next wave of innovations. Interested customers can learn more about Exowatt’s technology and order the Exowatt P3 at www.exowatt.com.

    About Exowatt
    Exowatt is a next-generation renewable energy company providing modular energy solutions tailored for energy-intensive applications like data centers. Founded in 2023 by Hannan Happi and Atomic CEO Jack Abraham, Exowatt’s mission is to make sustainable renewable energy always available and almost free. Exowatt is backed by a16z, Atomic, Felicis, and Sam Altman and is headquartered in Miami, Florida.

    Media Contact
    Claire Underwood
    Silverline Communications
    claire@teamsilverline.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b780b67a-8aad-4578-aebc-756eddaaf1b9

    The MIL Network –

  • MIL-OSI: BigCommerce and Noibu Share Joint Vision of Curated Composability to Deliver Seamless Site Performance and Accelerated Innovation for Online Merchants

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, April 22, 2025 (GLOBE NEWSWIRE) — BigCommerce (Nasdaq: BIGC), a leading provider of open, composable commerce solutions for B2C and B2B brands and retailers, today announced discussions regarding a potential expansion of its commercial partnership with Noibu, a leading ecommerce intelligence platform that helps brands detect, prioritize, and resolve revenue-impacting issues while delivering seamless customer experiences. The partnership, if finalized, would reflect the joint value of “curated composability,” enabling brands, retailers, manufacturers and distributors of all sizes to leverage best-in-class solutions without the procurement delays or complex integrations.

    “BigCommerce sees the ecommerce landscape becoming more complex with the growing number of channels being introduced,” said Travis Hess, CEO at BigCommerce. “Engaging and selling through multiple channels has created an orchestration challenge for brands and organizations. Our composable approach addresses that challenge by allowing them to leverage best-in-class partners and capabilities. By partnering with Noibu, we would deliver a frictionless way to unlock deeper customer experience insights, site intelligence, reduce development cycles and drive revenue — all without the delay of traditional contracting.”

    Through this proposed integration, brands and retailers would be able to seamlessly activate Noibu’s enterprise-grade ecommerce intelligence capabilities without the need for separate contracts. This would streamline procurement, simplify operations, and empower teams to uncover a wide range of technical and customer experiences issues — from hidden bugs to performance bottlenecks — that can hinder revenue growth. With comprehensive error detection, root-cause analysis, and prioritized recommendations, merchants could innovate faster, enhance digital experiences, and capture more conversions.

    Unlocking Conversion Opportunities at Speed

    Today, BigCommerce and Noibu enable brands to innovate confidently by identifying and resolving potential shopper experience issues before they affect revenue.

    Later this year, BigCommerce plans to make it easier for its enterprise customers to purchase Noibu without additional procurement friction or integration complexity.

    Key partnership benefits would include:

    • Faster Time to Value: Noibu could be activated instantly through the BigCommerce agreement — eliminating delays and enabling immediate performance insights.
    • Proactive Revenue Protection: Instead of waiting for problems to surface, merchants could continuously monitor their storefront for high-impact disruptions and prioritize fixes based on business value.
    • Collaborative Merchant Success: BigCommerce and Noibu teams would work in sync, offering a fully supported solution that strengthens the merchant experience from storefront to support.

    “Our collaboration with BigCommerce and Noibu has led to significant improvement in our ecommerce operations,” said Mike Hoefer, director of web product and strategy at King Arthur Baking. “The combination of Noibu’s advanced error monitoring and resolution capabilities and BigCommerce’s robust ecommerce platform has helped us enhance our site performance, increase customer satisfaction and avoid potential revenue losses.”

    A Partnership Built for Growth

    The proposed structure of this partnership would ensure that BigCommerce and Noibu could support merchants at every stage of growth — whether optimizing conversion rates, scaling traffic during peak seasons or maintaining performance across complex ecommerce architectures.

    “At Noibu, we share BigCommerce’s vision of empowering merchants to deliver fast, reliable, and insight-driven ecommerce experiences,” said Kailin Noivo, president and co-founder of Noibu. “By joining forces, we would eliminate the guesswork from issue resolution and help brands recover every dollar of potential revenue—all through one streamlined, unified solution.”

    To learn more about the existing Noibu-BigCommerce integration, and how to activate it, visit https://www.bigcommerce.com/apps/noibu/

    Read King Arthur Baking’s case study to learn more about how the brand is leveraging BigCommerce and Noibu: https://www.noibu.com/customers/case-studies/king-arthur-baking-company-noibu-case-study

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

    About Noibu
    Noibu is the leading ecommerce intelligence platform trusted by global brands to detect, prioritize, and resolve technical issues that disrupt the customer journey and impact revenue. By surfacing hidden errors, performance blockers, and root causes, Noibu empowers teams to deliver seamless shopping experiences, reduce lost revenue, and innovate with confidence. Learn more at www.noibu.com.

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

    Media Contact:
    Brad Hem
    pr@bigcommerce.com

    The MIL Network –

  • MIL-OSI: Auto Shanghai 2025: Cerence AI Partners with Industry Leaders to Showcase xUI, its Hybrid, Agentic AI Assistant Platform

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI and BURLINGTON, Mass., April 22, 2025 (GLOBE NEWSWIRE) —  Cerence Inc. (NASDAQ: CRNC) (“Cerence AI”), a global leader pioneering conversational AI-powered user experiences, will demo Cerence xUI™, its agentic AI assistant platform that works across the edge and the cloud, for the first time at Auto Shanghai 2025. The platform will be showcased in both English and Mandarin in partnership with Great Wall Motor (GWM) and TCL, a leading consumer electronics company.

    Cerence AI will demonstrate xUI in a GWM car, unveiling the future of LLM-powered in-car experiences in a real vehicle setting. In addition, in partnership with TCL, Cerence AI will showcase an in-car interaction experience integrating Cerence xUI with TCL’s Intelligent Automotive solutions in a state-of-the-art driving simulator. The demos will include:

    • Multi-Modal SLM – New multi-modal capabilities with CaLLM Edge™ that make in-car interactions smarter, more perceptive, and more human than ever, going far beyond pure infotainment.
    • Integrated Model Architecture – Cerence xUI leverages the CaLLM™ family of language models, third-party LLMs, real-time data sources, and contextual data from the car to create an engaging, conversational interface. In Cerence AI and TCL’s joint demo, users will also have simple access to DeepSeek.
    • Dual- and Multi-Seat Interaction and Multi-Screen Synchronization – Voice-controlled screen casting and operations will allow for synchronized interactions between front and rear seats, fostering collaboration among the driver, passengers, and Cerence xUI for intelligent dialogue.
    • Smart Home Integration – Seamless connectivity between Cerence xUI and TCL’s extensive ecosystem of smart home systems, allowing for intelligent home control directly from the car.

    “Auto Shanghai 2025 marks an important milestone in the Cerence xUI journey, with the first public demo of our next-gen, agentic AI platform,” said Christian Mentz, Chief Revenue Officer, Cerence AI. “We are thrilled to team up with industry leaders GWM and TCL as our innovation partners telling this exciting story to the world. With GWM, we continue our long-term partnership to bring AI innovation to their cars as they expand globally, and it’s an honor to have a GWM vehicle in our booth as the first illustration of Cerence xUI in a real car. And, we are excited to collaborate with TCL to showcase advanced in-car interaction, as well as together explore opportunities beyond automotive.”

    “In the era of intelligent mobility, voice has become the most natural bridge between humans and vehicles. As a global leader in AI-powered voice technology, Cerence continues to push the boundaries of smart interaction,” said Nicole Wu, Vice President & Chief Technology Officer, GWM. “At GWM, we are proud to partner with Cerence to co-create intelligent cockpit experiences that are not only advanced, but intuitive and human centric. Looking ahead, we believe our continued collaboration will drive innovation and shape a smarter, more connected future of mobility.”

    Ryan Hao, General Manager, TCL Automotive BU, said, “As TCL continues to expand its presence in the automotive sector, this collaboration underscores our shared commitment to innovative breakthroughs. By combining TCL’s cutting-edge intelligent cockpit technologies with Cerence AI’s extensive automotive experience and leading advancements in AI, we aspire to revolutionize the future of mobility through transformative opportunities.”

    Cerence AI’s booth at Auto Shanghai is located at NECC Shanghai, Hall 8.2, booth number 8BD002. To learn more about Cerence AI, visit www.cerence.ai, and follow the company on LinkedIn.

    About Cerence Inc.
    Cerence Inc. (NASDAQ: CRNC) is a global industry leader in creating intuitive, seamless, AI-powered experiences across automotive and transportation. Leveraging decades of innovation and expertise in voice, generative AI, and large language models, Cerence powers integrated experiences that create safer, more connected, and more enjoyable journeys for drivers and passengers alike. With more than 500 million cars shipped with Cerence technology, the company partners with leading automakers, transportation OEMs, and technology companies to advance the next generation of user experiences. Cerence is headquartered in Burlington, Massachusetts, with operations globally and a worldwide team dedicated to pushing the boundaries of AI innovation. For more information, visit www.cerence.ai.

    Contact Information

    Kate Hickman | Tel: 339-215-4583 | Email: kate.hickman@cerence.com 

    The MIL Network –

  • MIL-OSI: GraniteShares 2x Long LCID Daily ETF (LCDL) and GraniteShares 2x Long RIVN Daily ETF (RVNL) Launch Today.

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 22, 2025 (GLOBE NEWSWIRE) — GraniteShares, a provider of exchange traded funds (ETFs), today announced the launch of two new leveraged single-stock ETFs: GraniteShares 2x Long LCID Daily ETF (NASDAQ: LCDL) and GraniteShares 2x Long RIVN Daily ETF (NASDAQ: RVNL).

    An investment in the ETFs provides investors daily leveraged exposure to the two respective underlying stocks: Lucid Group (NASDAQ: LCID) and Rivian Automotive (NASDAQ: RIVN).

    GraniteShares’ leveraged ETFs seek daily investment results, before fees and expenses, that correspond to 2 times (200%) the daily percentage change of the respective common stocks. These funds are designed for sophisticated investors looking to capitalize on short-term movements in the underlying stocks.

    Electric Vehicle (EV) Automotive Companies

    • Lucid Group, Inc. (LCID) is an automotive company that designs, engineers, and manufactures electric vehicles. The company is headquartered in California and focuses primarily on the luxury EV segment. Its operations include vehicle production, battery technology and related energy solutions. Lucid cars are made in the USA.
    • Rivian Automotive, Inc. (RIVN) is a U.S. based company that designs, develops and manufactures electric vehicles and related accessories. Its product lineup includes consumer models, such as the R1T pickup truck and R1S SUV, as well as commercial vehicles like the Electric Delivery Van (EDV). Rivian vehicles are made in the USA.

    Designed for Tactical Traders

    The new leveraged ETFs provide traders with a tool to gain leveraged exposure to these stocks, making them a potential consideration for those looking to execute short-term tactical trades.

    “We’re pleased to expand our suite of leveraged single stock ETFs,” said Will Rhind, Founder of GraniteShares. “By launching LCDL and RVNL, we are responding to market demand for more single stock ETFs, in addition to Tesla, that provide exposure to electric vehicles that are made here in the USA.”

    For more information on the new GraniteShares leveraged ETFs, read the company’s prospectus.

    About GraniteShares

    GraniteShares is an entrepreneurial ETF provider focused on high-conviction investment solutions. The firm offers a range of innovative ETFs spanning leveraged, inverse, and high-yield strategies, empowering investors with differentiated tools for portfolio construction. Founded in 2016, GraniteShares has grown rapidly by delivering cutting-edge solutions tailored to modern market needs. For more information, visit www.graniteshares.com.

    Media Contact:
    GraniteShares Inc.
    Attn: Media Relations
    222 Broadway, 21st Floor
    New York, NY 10038
    844-476-8747
    info@graniteshares.com

    Important Disclosures:

    This material must be preceded or accompanied by a Prospectus. Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. Please read the prospectus before investing.

    An investment in the Fund involves risk, including the possible loss of principal. The use of derivatives such as option contracts and swaps is subject to market risks that may cause their price to fluctuate over time. Additional risks include Risk of the Underlying Stock, Derivatives Risk, Leverage Risk, Price Participation Risk, and Market Volatility Risk. Consider the investment objectives, risks, and charges and expenses of the investment company carefully before investing. These and other risks can be found in the prospectus.

    Leveraged ETFs seek daily investment results that correspond to a multiple of the performance (both gains and losses) of an underlying index or security. Due to the compounding of daily returns, holding periods of greater than one day can result in performance that differs from the stated multiple. These ETFs are not suitable for all investors. These ETFs are intended for sophisticated investors who understand the risks associated with leverage and seek short-term tactical trading strategies.

    Investment in these funds involves significant risk. The funds pursue daily leveraged investment objectives, which means that the funds are riskier than alternatives that do not use leverage because the funds magnify the performance of their underlying securities. These ETFs are designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2x) investment results, understand the risks associated with the use leverage and are willing to monitor their portfolios frequently. For periods longer than a single day, the funds will lose money if the performance of the underlying stock is flat. It is possible the funds will lose money even if the underlying stock’s performance increases over a period longer than one day. An investor could lose the full principal value of his/her investment within a single day. The volatility of the underlying security may affect the funds’ return as much as, or more than, the return of the underlying security.

    Shares are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. There can be no guarantee that an active trading market for ETF shares will develop or be maintained. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur costs that detract significantly from investment returns.

    This information is not an offer to sell or a solicitation of an offer to buy shares of any Funds to any person in any jurisdiction in which an offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. Please consult your tax advisor about the tax consequences of an investment in Fund shares, including the possible application of foreign, state, and local tax laws. You could lose money by investing in the ETFs. There can be no assurance that the investment objective of the Funds will be achieved. None of the Funds should be relied upon as a complete investment program.

    The MIL Network –

  • MIL-OSI: Teads Celebrates Major Milestone as CTV HomeScreen Powers 1,500 Campaigns

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 22, 2025 (GLOBE NEWSWIRE) — The new Teads (NASDAQ: OB), the omnichannel outcomes platform for the open internet, today announced a significant milestone for CTV HomeScreen (formerly CTV Native), an immersive way for advertisers to reach audiences on exclusive experiences at incremental moments of high attention. Since its launch in 2023, 1,500 CTV HomeScreen campaigns have been run by premium brands globally, including Cartier, Nestlé, and Air France.

    As brands prioritize omnichannel strategies, CTV HomeScreen enables advertisers to place content directly on the first screen consumers see when turning on their connected televisions. By integrating within the operating systems of major television manufacturers such as LG and Hisense, Teads’ CTV HomeScreen ads provide brands with access to audiences that may not otherwise be reachable through ad-supported tiers on streaming platforms. CTV HomeScreen ads deliver high levels of attention through impactful, unique creative experiences. Teads’ programmatic advertiser platform, Teads Ad Manager (TAM) enables brands to connect the moments of the consumer journey across all screens — creating a continuity of advertising experiences from CTV to web and app.

    “By placing high-impact native ads directly on smart TV home screens, we provide brands with premium, brand-safe placements that capture superior attention at the moment of content discovery,” said Jeremy Arditi, Co-President, Chief Business Officer of the Americas. “This approach ensures brands own the first moment on TV screens, maximizing both visibility and engagement in an uncluttered environment.”

    Over the past year, Teads has strengthened its CTV offering through expanded access to premium HomeScreen inventory, including exclusive partnerships with VIDAA US and LG Ad Solutions covering 330 million TV screens worldwide, in over 50 countries. In addition to Homescreen, TAM enables advertisers to reach audiences across more than 7,000 CTV apps globally, optimizing performance through CTV instream video campaigns.

    “The partnership between LG and Teads unlocks a powerful value proposition for advertisers,” said Serge Matta, President of Global Ad Sales at LG Ad Solutions. “From the moment a viewer powers on their TV, they’re met with stunning creatives, brought to life by Teads. It’s a seamless blend of innovation and scale.”

    Capturing Audience Attention at Scale

    CTV HomeScreen placements are displayed on the first screen viewers see when they turn on their smart TVs. This enhances ad effectiveness and extends audience reach beyond traditional commercial breaks. According to TVision (2024), viewers often spend time browsing for content—up to 10 minutes—before encountering ad clutter, making this window a high-attention moment. In fact, 74% of attention goes to the first ad seen on the home screen.

    In 1,500 CTV HomeScreen campaigns, Teads has helped brands like Cartier, Nestlé, Air France, Bvlgari, and Nissan deliver impactful moments that drive measurable engagement. Cartier’s first-ever 3D CTV HomeScreen campaign generated over 12 million impressions, while Air France saw a 22% increase in recommendation intent by securing premium placements on Smart TV home screens. In addition, Nestlé achieved a 9% lift in ad recall, leveraging Teads’ high-attention CTV HomeScreen formats to enhance brand impact.

    “This initiative showcases how advertising innovation and precise data can strengthen brand image and consumer engagement. Teads’support in this campaign allowed us to combine exclusive formats with rigorous measurement, demonstrating real value for the brand,” said Catherine Masson, Director of Brand Media Strategy and Media Buying at Air France.

    Now Available in Teads Ad Manager

    Brands can now seamlessly combine CTV HomeScreen with mobile and desktop formats within a single buying platform, making it easier to plan, execute, and optimize omnichannel campaigns and ensuring a more cohesive, data-driven approach to audience engagement.

    With real-time attention measurement, contextual targeting, and planning and insight tools, Teads Ad Manager offers advertisers an all-in-one solution to maximize impact across every screen. This latest integration reflects Teads’ commitment to future-proofing CTV advertising by delivering premium placements, innovative ad formats, and advanced measurement tools.

    Teads was recently announced as a finalist in the Best CTV Ad Tech Platform category by the Digiday Streaming and Video Awards. For more information on Teads’ CTV HomeScreen solutions, visit https://thenewteads.com/.

    About The New Teads
    Outbrain Inc. (Nasdaq: OB) and Teads S.A. combined on February 3, 2025 and are operating under the new Teads brand. The new Teads is the omnichannel outcomes platform for the open internet, driving full-funnel results for marketers across premium media. With a focus on meaningful business outcomes, the combined company ensures value is driven with every media dollar by leveraging predictive AI technology to connect quality media, beautiful brand creative, and context-driven addressability and measurement. One of the most scaled advertising platforms on the open internet, the new Teads is directly partnered with more than 10,000 publishers and 20,000 advertisers globally. The company is headquartered in New York, with a global team of nearly 1,800 people in 36 countries.

    For more information, visit https://thenewteads.com/.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements may include, without limitation, statements generally relating to possible or assumed future results of our business, financial condition, results of operations, liquidity, plans and objectives, and statements relating to our recently completed acquisition (the “Acquisition”) of TEADS, a private limited liability company (société anonyme) incorporated and existing under the laws of the Grand Duchy of Luxembourg (“Teads”). You can generally identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “guidance,” “outlook,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “foresee,” “potential” or “continue” or the negative of these terms or other similar expressions that concern our expectations, strategy, plans or intentions or are not statements of historical fact. We have based these forward- looking statements largely on our expectations and projections regarding future events and trends that we believe may affect our business, financial condition, and results of operations. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors including, but not limited to: the ability of Outbrain to successfully integrate Teads or manage the combined business effectively; our ability to realize anticipated benefits and synergies of the Acquisition, including, among other things, operating efficiencies, revenue synergies and other cost savings; our due diligence investigation of Teads may be inadequate or risks related to Teads’ business may materialize; unexpected costs, charges or expenses resulting from the Acquisition; the outcome of any securities litigation, stockholder derivative or other litigation related to the Acquisition; our ability to raise additional financing in the future to fund our operations, which may not be available to us on favorable terms or at all; the volatility of the market price of our common stock and any drop in the market price of our common stock following the Acquisition; our ability to attract and retain customers, management and other key personnel; overall advertising demand and traffic generated by our media partners; factors that affect advertising demand and spending, such as the continuation or worsening of unfavorable economic or business conditions or downturns, instability or volatility in financial markets, and other events or factors outside of our control, such as tariffs and trade wars, U.S. and global recession concerns, geopolitical concerns, including the ongoing war between Ukraine-Russia and conditions in Israel and the Middle East, supply chain issues, inflationary pressures, labor market volatility, bank closures or disruptions, the impact of challenging economic conditions, political and policy changes or uncertainties in connection with the new U.S. presidential administration, and other factors that have impacted and may further impact advertisers’ ability to pay; our ability to continue to innovate, and adoption by our advertisers and media partners of our expanding solutions; the potential impact of artificial intelligence (“AI”) on our industry and our need to invest in AI-based solutions; the success of our sales and marketing investments, which may require significant investments and may involve long sales cycles; our ability to grow our business and manage growth effectively; our ability to compete effectively against current and future competitors; the loss or decline of one or more of our large media partners, and our ability to expand our advertiser and media partner relationships; conditions in Israel, including the sustainability of the recent cease-fire between Israel and Hamas and any conflicts with other terrorist organizations or countries; our ability to maintain our revenues or profitability despite quarterly fluctuations in our results, whether due to seasonality, large cyclical events, or other causes; the risk that our research and development efforts may not meet the demands of a rapidly evolving technology market; any failure of our recommendation engine to accurately predict attention or engagement, any deterioration in the quality of our recommendations or failure to present interesting content to users or other factors which may cause us to experience a decline in user engagement or loss of media partners; limits on our ability to collect, use and disclose data to deliver advertisements; our ability to extend our reach into evolving digital media platforms; our ability to maintain and scale our technology platform; our ability to meet demands on our infrastructure and resources due to future growth or otherwise; our failure or the failure of third parties to protect our sites, networks and systems against security breaches, or otherwise to protect the confidential information of us or our partners; outages or disruptions that impact us or our service providers, resulting from cyber incidents, or failures or loss of our infrastructure; significant fluctuations in currency exchange rates; political and regulatory risks in the various markets in which we operate; the challenges of compliance with differing and changing regulatory requirements, including with respect to privacy; the timing and execution of any cost-saving measures and the impact on our business or strategy; and the risks described in the section entitled “Risk Factors” and elsewhere in the Annual Report on Form 10-K filed for the year ended December 31, 2024and in subsequent reports filed with the SEC. Accordingly, you should not rely upon forward-looking statements as an indication of future performance. We cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or will occur, and actual results, events, or circumstances could differ materially from those projected in the forward-looking statements. The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. We undertake no obligation and do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or circumstances after the date on which the statements are made or to reflect the occurrence of unanticipated events or otherwise, except as required by law.

    Media Contact

    press@outbrain.com

    Investor Relations Contact

    IR@outbrain.com

    (332) 205-8999

    The MIL Network –

  • MIL-OSI: Fengate appoints Warren Roll as Managing Director, Head of Digital Infrastructure

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, April 22, 2025 (GLOBE NEWSWIRE) — Fengate Asset Management (Fengate) today announced the appointment of Warren Roll as Managing Director, Head of Digital Infrastructure.

    Roll brings more than 25 years of experience to Fengate across global private equity, mergers and acquisitions, asset management, and operations in various infrastructure sectors. Prior to joining Fengate, Roll spent more than 10 years as a senior executive at DigitalBridge where he led their fiber and small cells strategy.

    Based in Fengate’s Miami office – the firm’s second office in the United States (U.S.), which opened earlier this year to service its infrastructure, private equity, and real estate businesses – Roll will drive Fengate’s digital infrastructure growth strategy including cell towers, distributed antenna systems, small cells, data centers, and satellites across the U.S. and Canada.

    “We are thrilled to welcome Warren to Fengate and look forward to scaling the digital sector within our infrastructure business under his leadership to deliver exceptional investment results for our clients,” said George Theodoropoulos, Managing Partner at Fengate. “Warren has significant transaction experience and a strong reputation in the digital infrastructure space across North America.”

    Roll’s appointment builds on the positive momentum of Fengate’s wireless communications towers and data center investments, including the firm’s CA$1.8bn acquisition of Montreal-based eStruxture Data Centers in 2024.

    “I have been impressed watching Fengate grow within the digital sector in North America and have always admired their stellar track record and strong reputation in the marketplace,” said Roll.

    “I am excited to join Fengate to lead its digital infrastructure strategy and look forward to working with the talented team to create growth and innovation in this critical sector.”

    Prior to DigitalBridge, Roll was a Senior Executive at PSP Investments in private equity and spent several years in investment banking based in Quebec, Canada.

    About Fengate

    Fengate is a leading alternative investment manager focused on infrastructure, private equity and real estate strategies, with more than $7 billion of capital commitments under management. The firm has been investing in infrastructure since 2006 with a focus on mid-market greenfield and brownfield infrastructure assets in the transportation, social, energy transition and digital sectors. Fengate is one of North America’s most active infrastructure investors and developers with a portfolio of more than 45 assets. Learn more at www.fengate.com.

    Media contact

    Maddison Sharples
    Vice President, Communications and Marketing
    +1 416 254 3326
    maddison.sharples@fengate.com

    The MIL Network –

  • MIL-OSI: iBio Expands Cardiometabolic and Obesity Pipeline through Licensing of First-in-Class Antibody Targeting Activin E from AstralBio

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, April 22, 2025 (GLOBE NEWSWIRE) — Bio, Inc. (Nasdaq: IBIO), an AI-driven innovator of precision antibody therapies, today announced a licensing agreement with AstralBio Inc. for a preclinical first-in-class antibody targeting Activin E, which was discovered using iBio’s patented Machine-Learning Antibody Engine. Activin E is a promising novel therapeutic target whose inhibition is believed to induce fat-selective weight loss and offer protection against obesity and cardiometabolic disease. iBio plans to rapidly advance testing of the antibody in more complex models following preclinical studies that demonstrated strong antibody binding, inhibition of Activin E signaling and fat-specific weight loss in an obese rodent animal model.

    The in-licensed antibody represents what iBio believes to be the first functional inhibitor of Activin E, a challenging, yet genetically validated therapeutic target playing a key role in regulating energy balance and fat distribution. Inhibiting Activin E-mediated signaling could offer a novel therapeutic strategy to reduce internal abdominal fat while preserving muscle mass—potentially reversing obesity, preventing diabetes, and improving overall cardiometabolic health. As one of several cellular components involved in cardiometabolic regulation, Activin E, along with amylin, GLP-1 and others, are part of a broader network of signaling pathways that have the potential to be targeted simultaneously to yield synergistic benefits for patients.

    Using its proprietary Machine Learning Antibody Engine and advanced epitope engineering technology, iBio designed engineered epitopes representing five key regions of the Activin E protein. This approach led to the successful development of a molecule that fully blocks Activin E-mediated signaling and inhibits its function across multiple in vitro models. In vivo proof-of-concept was established in a rodent model of obesity, where the antibody induced fat-selective weight loss as a monotherapy and showed synergistic weight loss when added to a GLP-1 receptor agonist in recently published data by iBio. iBio plans to present additional preclinical data of its antibody targeting Activin E at the International BMP Conference, taking place in Philadelphia, PA, from May 2–6.

    “Our decision to license this Activin E-targeting functional antibody, a potentially first-in-class molecule, at this early stage reflects our firm belief in Activin E as a promising therapeutic target and our confidence in building upon the strong preclinical data we recently published,” said Martin Brenner, Ph.D., DVM, iBio’s Chief Executive Officer and Chief Scientific Officer. “This antibody represents a strategic expansion of our pipeline in cardiometabolic diseases and obesity and a significant step toward clinical development of a medication that can potentially offer meaningful benefits to patients.”

    Additionally, iBio amended its existing collaboration agreement with AstralBio to add a fifth target for the treatment of cardiometabolic disease. iBio will identify and create an antibody against such target, leveraging its proprietary Drug Discovery Platform. In exchange for adding an additional target to the collaboration and pursuant to the license agreement, AstralBio has provided iBio a $750,000 credit which iBio has applied toward the option fee for the exclusive license of the novel antibody that inhibits the function of Activin E. AstralBio will be eligible for development and commercialization milestone payments totaling up to $28 million. If iBio sublicenses the licensed product, AstralBio is to receive low to mid-single-digit sublicense fees on the proceeds of the sublicense fees. iBio is solely responsible for the research and development, manufacturing and commercialization activities of the licensed product.

    About iBio, Inc.

    iBio (Nasdaq: IBIO) is a cutting-edge biotech company leveraging AI and advanced computational biology to develop next-generation biopharmaceuticals for cardiometabolic diseases, obesity, cancer and other hard-to-treat diseases. By combining proprietary 3D modeling with innovative drug discovery platforms, iBio is creating a pipeline of breakthrough antibody treatments to address significant unmet medical needs. Our mission is to transform drug discovery, accelerate development timelines, and unlock new possibilities in precision medicine. For more information, visit www.ibioinc.com or follow us on LinkedIn.

    Forward-Looking Statements

    Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding the therapeutic potential of Activin E as a target for cardiometabolic disorders and obesity; Activin E being a promising novel therapeutic target whose inhibition is believed to induce fat-selective weight loss and offer protection against obesity and cardiometabolic disease; plans to rapidly advance testing of the antibody in more complex models; the in-licensed antibody being the first functional inhibitor of Activin E; inhibiting Activin E-mediated signaling offering a novel therapeutic strategy to reduce internal abdominal fat while preserving muscle mass potentially reversing obesity, preventing diabetes, and improving overall cardiometabolic health. As one of several cellular components involved in cardiometabolic regulation; Activin E, along with amylin, GLP-1 and others, having the potential to be targeted simultaneously to yield synergistic benefits for patients; plans to present additional preclinical data of its antibody targeting Activin E at the International BMP Conference, taking place in Philadelphia, PA from May 2–6; and the antibody having the potential to deliver meaningful benefits to patients. While iBio believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the ability of Activin E to be a successful target for cardiometabolic disorders and obesity and iBio’s antibody to induce fat-selective weight loss and offer protection against obesity and cardiometabolic disease; iBio’s ability to obtain regulatory approvals for commercialization of its product candidates, or to comply with ongoing regulatory requirements; regulatory limitations relating to iBio’s ability to promote or commercialize its product candidates for specific indications; acceptance of iBio’s product candidates in the marketplace and the successful development, marketing or sale of products; and whether iBio will incur unforeseen expenses or liabilities or other market factors; and the other factors discussed in iBio’s filings with the SEC including its Annual Report on Form 10-K for the year ended June 30, 2024 and its subsequent filings with the SEC on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and iBio undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

    Corporate Contact:
    iBio, Inc.
    Investor Relations
    ir@ibioinc.com

    Media Contacts:
    Ignacio Guerrero-Ros, Ph.D., or David Schull
    Russo Partners, LLC
    Ignacio.guerrero-ros@russopartnersllc.com
    David.schull@russopartnersllc.com
    (858) 717-2310 or (646) 942-5604

    The MIL Network –

  • MIL-OSI: Hanover Bank Announces Core Banking System Conversion to Drive Digital Growth

    Source: GlobeNewswire (MIL-OSI)

    MINEOLA, N.Y., April 22, 2025 (GLOBE NEWSWIRE) — Hanover Bank, the bank subsidiary of Hanover Bancorp (Nasdaq “HNVR”), is excited to announce its conversion to a new core banking system, a significant technological upgrade designed to improve the banking experience for our clients, streamline operations for employees, and drive greater value for all our stakeholders. Our core banking system conversion was successfully completed on Tuesday, February 18, 2025.

    As the bank continues to evolve into a more business-focused financial institution, we remain committed to providing the best possible service to our customers. This upgrade strengthens Hanover Bank’s ability to offer digitally forward business banking solutions that are agile and expected to drive success in today’s economy.

    Further, this transition will enhance our ability to offer innovative services and solutions while maintaining the security, reliability, and trust that our clients have come to expect. With a focus on improving our customer experience, the new system will offer:

    • Faster and More Efficient Services: Clients will benefit from improved user interfaces and digital banking tools, enabling us to provide an even higher level of convenience and responsiveness.
    • Enhanced Security: As digital banking continues to grow, security is of paramount importance, and our new core system features state-of-the-art security protocols, ensuring that client data and transactions are safeguarded at the highest level.
    • Customizable Business Solutions: Our new core banking system allows for more tailored product offerings and integrated banking solutions designed to streamline banking and financial management for our clients.

    “Our core banking conversion is not just about technology – it’s about creating long-term value for our clients, helping them grow and succeed in an increasingly digital and competitive marketplace,” stated Michael P. Puorro, Chairman & Chief Executive Officer of Hanover Bank.

    Hanover Bank’s employees have undergone comprehensive training to leverage the full capabilities of the new system, empowering them to serve clients with more speed and accuracy. With more automated and simplified back-office functions due to the efficiencies created by the conversion, our focus on delivering top-tier, unparalleled service will only continue to grow.

    Better functionality on more competitive financial terms bolsters our sustained commitment to efficient operations. The conversion also brings advantages for all stakeholders, including:

    • Operational Efficiency: The new core system will allow for better management of resources, reduce operational costs, and improve profitability. This translates into a stronger, more sustainable financial institution poised for continued growth.
    • Improved Reporting and Insights: Enhanced reporting tools will provide real-time, actionable insights, supporting more informed decision-making and business strategies.

    “We are proud to make this investment in the future of our bank. Our core conversion marks a significant milestone in Hanover Bank’s journey toward creating an even more efficient, secure, and client-focused banking experience. Our commitment to innovation means we are always seeking ways to increase our value to clients, employees, stakeholders, and the communities in which we operate. With this new system in place, we are poised for a future where banking is not only faster and more robust, but also more personalized and responsive to our clients’ needs,” concluded Mr. Puorro.

    About Hanover Community Bank and Hanover Bancorp, Inc.

    Hanover Bancorp, Inc. (NASDAQ: HNVR), is the bank holding company for Hanover Community Bank, a community commercial bank focusing on highly personalized and efficient services and products responsive to client needs. Management and the Board of Directors are comprised of a select group of successful local businesspeople who are committed to the success of the Bank by knowing and understanding the metro-New York area’s financial needs and opportunities. Backed by state-of-the-art technology, Hanover offers a full range of financial services. Hanover offers a complete suite of consumer, commercial, and municipal banking products and services, including multi-family and commercial mortgages, residential loans, business loans and lines of credit. Hanover also offers its customers access to 24-hour ATM service with no fees attached, free checking with interest, telephone banking, advanced technologies in mobile and internet banking for our consumer and business customers, safe deposit boxes and much more. The Company’s corporate administrative office is located in Mineola, New York where it also operates a full-service branch office along with additional branch locations in Garden City Park, Hauppauge, Forest Hills, Flushing, Sunset Park, Rockefeller Center and Chinatown, New York, and Freehold, New Jersey, with a new branch opening in Port Jefferson, New York in mid 2025.

    Hanover Community Bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For further information, call (516) 548-8500 or visit the Bank’s website at www.hanoverbank.com.

    Press Contact:
    Ms. Annette Esposito
    First VP – Director of Marketing
    (516) 548-8500

    The MIL Network –

  • MIL-OSI: Rigetti Wins Innovate UK’s Quantum Missions Pilot Competition to Advance Quantum Error Correction Capabilities on Superconducting Quantum Computers

    Source: GlobeNewswire (MIL-OSI)

    Rigetti, in collaboration with Riverlane and the National Quantum Computing Centre (NQCC), has been selected as one of the winners of Innovate UK’s Quantum Missions pilot competition. Leveraging Rigetti’s quantum computer hosted at the NQCC, the £3.5 million Rigetti-led consortium aims to benchmark and enhance the quantum error correction capabilities of superconducting quantum computers — a requirement for achieving large-scale fault-tolerant quantum computing.

    BERKELEY, Calif., April 22, 2025 (GLOBE NEWSWIRE) — Rigetti UK Limited, a wholly owned subsidiary of Rigetti Computing, Inc. (Nasdaq: RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, today announced that it has been selected as one of the winners of Innovate UK’s Quantum Missions pilot competition to benchmark and enhance quantum error correction (QEC) capabilities on superconducting quantum computers. Rigetti will lead a £3.5 million consortium alongside Riverlane and the NQCC Superconducting Circuits Team to leverage Rigetti’s superconducting quantum computer hosted at the NQCC to conduct ambitious QEC tests that advance state-of-the-art metrics and demonstrate real-time QEC capabilities — a requirement for universal, fault-tolerant quantum computing.

    Fault-tolerant quantum computing has the potential to usher in a new era of computational power to solve real-world problems. Achieving fault tolerance requires QEC to be effectively integrated with quantum computing technology, and with that comes addressing critical challenges. These include processing bottlenecks in classical control systems and their integration with quantum error decoding technology, as well as the high error rates of current quantum computers. The project aims to make measurable advancements towards overcoming these challenges by developing key capabilities required for executing a large number of quantum operations on Rigetti’s UK-based quantum computer.

    As part of the project, Rigetti will upgrade its existing NQCC quantum computer. The upgrades will include:

    • Deploying a larger 36-qubit quantum processing unit (QPU), updating from the current 24-qubit QPU
    • Integrating Rigetti’s latest generation control system, enabling improved qubit control and a fully programmable, low-latency interface with Riverlane’s Quantum Error Correction (QEC) Stack

    Riverlane will lead the QEC experiments, identifying key improvements to enhance system performance and meet crucial QEC metrics. The NQCC Superconducting Circuits Team will support the system upgrade and provide quality assurance for the QEC experiments.

    “Our NQCC testbed continues to serve as a critical resource for advancing our technology capabilities. We believe that we have a tremendous advantage on our path to fault-tolerant quantum computing with Riverlane’s QEC expertise and our modular, open architecture that lends itself to flexible and innovative solutions to scale our technology,” says Dr. Subodh Kulkarni, Rigetti CEO. “Moreover, we benefit from the strong advantages of superconducting qubits, which we believe are the winning qubit modality given their fast gate speeds and clear path to scaling.”

    “Developing high-performance quantum error correction is critical to achieving fault-tolerant quantum computing, and this project provides an ideal environment to advance those capabilities,” said Steve Brierley, Riverlane CEO & Founder. “By integrating our QEC stack with Rigetti’s upgraded superconducting quantum computer, we aim to achieve measurable improvements in key performance metrics, including throughput, latency, and decoding accuracy, which are essential for real-time error correction. We look forward to making significant progress through this collaboration.”

    The Quantum Missions pilot competition was established to accelerate quantum computing and quantum networking projects by increasing their capabilities and removing technological barriers to their commercialization and adoption. Rigetti was also awarded two additional Quantum Missions pilot competition projects:

    • Collaboration with SEEQC to integrate its digital chip-based technology with Rigetti’s 9-qubit Novera™ QPU hosted at the NQCC with the goal of identifying and understanding the key system components needed for scalable QEC. The project partners also include Cambridge Consultants, Oxford Instruments Nanotechnology Tools, NQCC, and University of Edinburgh.
    • Collaboration with TreQ, Qruise, Q-CTRL, and Oxford Ionics to create an open-architecture quantum computing testbed. The project will offer eight unique configurations by combining two quantum processors, two control systems, and two quantum software stacks. The project will also deliver an open specification for quantum workflows, creating a common interface between quantum software and hardware.

    These projects build on Rigetti’s leadership in the UK’s quantum computing ecosystem, including launching the first fully operational quantum computer at the NQCC and leading a three-year £10 million consortium to deploy one of the first UK-based quantum computers hosted at Oxford Instruments’ Tubney Woods facility.

    About Rigetti
    Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. In 2021, Rigetti began selling on-premises quantum computing systems with qubit counts between 24 and 84 qubits, supporting national laboratories and quantum computing centers. Rigetti’s 9-qubit Novera QPU was introduced in 2023 supporting a broader R&D community with a high-performance, on-premises QPU designed to plug into a customer’s existing cryogenic and control systems. The Company’s proprietary quantum-classical infrastructure provides high-performance integration with public and private clouds for practical quantum computing. Rigetti has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility. Learn more at https://www.rigetti.com/.

    Rigetti Computing Media Contact:
    press@rigetti.com

    Cautionary Language Concerning Forward-Looking Statements
    Certain statements in this communication may be considered “forward-looking statements” within the meaning of the federal securities laws, including but not limited to, expectations with respect to the Company’s business and operations, including its expectations related to the Innovate UK grants as part of the Quantum Missions pilot competition and work with Riverlane to benchmark and enhance quantum error correction (QEC) capabilities on superconducting quantum computers; SEEQC, NQCC, Cambridge Consultants, Oxford Instruments Nanotechnology Tools, and University of Edinburgh to integrate a digital chip-based technology with Rigetti’s 9-qubit Novera™ QPU hosted at the NQCC with the goal of identifying and understanding the key system components needed for scalable QEC; and TreQ, Qruise, Q-CTRL, and Oxford Ionics to create an open-architecture quantum computing testbed. Forward-looking statements generally relate to future events and can be identified by terminology such as “commit,” “may,” “should,” “could,” “might,” “plan,” “possible,” “intend,” “strive,” “expect,” “intend,” “will,” “estimate,” “believe,” “predict,” “potential,” “pursue,” “aim,” “goal,” “outlook,” “anticipate,” “assume,” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Rigetti and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: Rigetti’s ability to achieve milestones, technological advancements, including with respect to its roadmap, help unlock quantum computing, and develop practical applications; the ability of Rigetti to complete ongoing negotiations with government contractors successfully and in a timely manner; the potential of quantum computing; the ability of Rigetti to obtain government contracts and the availability of government funding; the ability of Rigetti to expand its QCS business; the success of Rigetti’s partnerships and collaborations; Rigetti’s ability to accelerate its development of multiple generations of quantum processors; the outcome of any legal proceedings that may be instituted against Rigetti or others; the ability to continue to meet stock exchange listing standards; costs related to operating as a public company; changes in applicable laws or regulations, including taxes and tariffs; the possibility that Rigetti may be adversely affected by other economic, business, or competitive factors; Rigetti’s estimates of expenses and profitability; the evolution of the markets in which Rigetti competes; the ability of Rigetti to execute on its technology roadmap; the ability of Rigetti to implement its strategic initiatives, expansion plans and continue to innovate its existing services; disruptions in banking systems, increased costs, international trade relations, political turmoil, natural catastrophes, warfare, and terrorist attacks; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. The Company does not give any assurance that it will achieve its expectations.

    The MIL Network –

  • MIL-OSI: Atana Wins 2025 HR Tech Award for Best Talent Development Solution

    Source: GlobeNewswire (MIL-OSI)

    BELLEVUE, Wash., April 22, 2025 (GLOBE NEWSWIRE) — Seeking to redefine workplace culture and training, Atana has been named Best Innovative or Emerging Tech Solution for Learning and Talent Development in the 2025 HR Tech Awards. The award marks Atana’s second notable win this month.

    The HR Tech Awards, powered by Lighthouse Research & Advisory and presented by UNLEASH, spotlight excellence and innovation across the HR technology landscape. The program is designed to help HR leaders and technology buyers identify solutions that drive real results.

    “Atana distinguishes itself with a comprehensive, award-winning training platform that is designed to create a more respectful and inclusive workplace, using engaging content to tackle even the most challenging topics like diversity and sexual harassment prevention,” said Ben Eubanks, Chief Research Officer, Lighthouse Research & Advisory. “By leveraging behavioral theory and robust analytics, Atana empowers organizations to drive meaningful change and quantify the positive impact on both employees and the business as a whole.”

    Atana CEO John Hansen shared, “Winning an HR Tech Award is a proud moment for the Atana team. It’s a testament to how our solution innovates and elevates workplace training, driving employee engagement and delivering measurable impact across the workforce. This recognition fuels our mission to help create healthy, positive and respectful workplaces.”

    Now in its sixth year, the HR Tech Awards are judged by an independent panel of industry practitioners, educators and consultants. Each winner is vetted based on overall innovation, product demonstrations and customer case studies. Lighthouse Research & Advisory notes that with more than 5,000 providers competing in today’s HR technology landscape, the HR Tech Awards recognize 1-2 percent of those companies in the space, reinforcing Atana’s value in the market.

    For more information about Atana’s award-winning solutions, visit atana.com.

    About Atana

    Bringing together decades of experience, award-winning courses, and a powerful analytics platform, Atana takes learners from best intentions to actionable and measurable behavioral change at scale. With Atana, employers can build more inclusive workplaces through engaging content and science-backed learning and development. For more information, please visit atana.com.

    Note to editors: Trademarks and registered trademarks referenced herein remain the property of their respective owners.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f2e8d93b-07b9-488b-8af4-d77f5b7fcecb

    The MIL Network –