Category: Taxation

MIL-OSI USA: Gov. Pillen Vetoes LB287 for Government Oversight and SID Taxation Concerns

Source: US State of Nebraska

. Pillen Vetoes LB287 for Government Oversight and SID Taxation Concerns

LINCOLN, NE – Governor Jim Pillen has vetoed LB287, which was amended to include two other bills prior to final passage by the Legislature on May 14. The Governor’s letter to the legislature cites concerns relative to each of the three bills – LB287, LB514 and LB321.

Gov. Pillen said he objects to the state creating redundant oversight as well as expanding it, as would happen through LB287 and LB514. He also disagrees with giving regulatory and taxing authority to Sanitary and Improvement Districts (SIDs) over those who live outside of those jurisdictions, as stipulated in LB321.

The Governor’s veto letter is included.

MIL OSI USA News –

May 22, 2025
MIL-OSI USA: NEW: Republicans’ Bill Will Rip Away Health Insurance from Over 228,000 Wisconsinites

US Senate News:

Source: United States Senator for Wisconsin Tammy Baldwin

WASHINGTON, D.C. – Today, U.S. Senator Tammy Baldwin (D-WI) slammed President Trump and Republicans’ bill that will cut Medicaid and attack the Affordable Care Act after a new report revealed their plan will terminate health insurance for 228,000 Wisconsinites. Overnight, House Republicans started the process to advance the GOP bill that will kick roughly 13.7 million Americans, including over 228,000 Wisconsinites, off of Medicaid and the Affordable Care Act (ACA) to pay for Republicans’ tax breaks for the top one percent.

“Donald Trump came into office promising to lower costs for families. Instead, Republicans are about to jack up the cost of health care for hundreds of thousands of Wisconsinites, all so the wealthiest Americans can get richer,” said Senator Baldwin. “Gutting Medicaid would be devastating for countless families in Wisconsin, and I won’t stand idly by while Republicans try to take away health care from Wisconsinites.”

According to the nonpartisan Congressional Budget Office (CBO)’s analysis of House Republicans’ legislation, cuts to Medicaid and the ACA would result in roughly 13.7 million people losing their health insurance by 2034. Using CBO’s analysis, a new report shows that in Wisconsin, 228,659 people would lose their coverage, including 81,308 Wisconsinites who rely on Affordable Care Act tax breaks to afford their insurance and 147,351 Wisconsinites on Medicaid.

The Republican plan would roll out new work reporting requirements designed to kick Wisconsinites off their health insurance, which, combined with other provisions, would jeopardize care for nearly 150,000 Wisconsinites. The Republican plan would also allow the ACA Premium Tax Credits, which save Americans on average $700 each year on their coverage, to expire, jacking up the cost of coverage and putting insurance out of reach for over 80,000 Wisconsin families. Senator Baldwin leads legislation to make these enhanced tax credits for working families permanent.

In Wisconsin, over 1.2 million are enrolled in Medicaid. About 1 in 3 children in both Wisconsin’s rural and metro communities have Medicaid coverage. Severe cuts to Medicaid will also jeopardize rural hospitals and clinics’ ability to keep their doors open. Over 12 million rural Americans rely on Medicaid for health care.

Senator Baldwin has been leading the charge to fight back against cuts to Medicaid. In March, Senator Baldwin kicked off her “Hands Off Medicaid Tour” where she held roundtable discussions statewide calling out Republicans’ plan to slash Medicaid to pay for tax cuts for the wealthy. During each stop, Senator Baldwin heard directly from Wisconsinites who depend on Medicaid and highlighted the dire consequences cuts to the lifesaving program would mean for them and their loved ones.

MIL OSI USA News –

May 22, 2025
MIL-OSI USA: Lummis Applauds Senate Passage of President Trump’s No Tax on Tips Proposal

US Senate News:

Source: United States Senator for Wyoming Cynthia Lummis

May 21, 2025

Washington, D.C.— Today, Senator Cynthia Lummis (R-WY) issued the following statement after the unanimous passage of the No Tax on Tips Act, a proposal originally made by President Trump. This bipartisan legislation will exempt tips from being subject to taxation under the federal income tax.
“The Senate passage today of President Trump’s No Tax on Tips proposal is a victory for Wyoming’s blue-collar workers who will now keep every dollar they earn in tips. I support this common-sense tax relief that puts more money into the hands of Wyoming workers while upholding the conservative principle of rewarding hard work.”
Background:
The legislation was introduced by Senator Cruz (R-TX) and Senator Jacky Rosen (D-NV).
The bill exempts “cash tips”- cash, credit and debit card charges, and checks – from federal income tax by allowing taxpayers to claim a 100% deduction at filing for tipped wages. The updated text includes guardrails to ensure only traditionally tipped employees will benefit from No Tax on Tips.

MIL OSI USA News –

May 22, 2025
MIL-OSI USA: Warner & Kaine Slam GOP Tax Bill for Raising Taxes on Working Families to Fund Windfalls for the Ultra-Wealthy

US Senate News:

Source: United States Senator for Commonwealth of Virginia Mark R Warner
WASHINGTON – Today, U.S. Sens. Mark R. Warner and Tim Kaine (D-VA) issued the following statement blasting the GOP’s partisan tax bill that would raise taxes on the lowest-income Americans while handing six-figure windfalls to the wealthiest 0.1% of taxpayers:
“At a time when working families are struggling with the rising cost of living, Donald Trump and Washington Republicans are asking them to pay more so the ultra-rich can get a handout. The numbers speak for themselves: under the terms of the tax plan championed by President Trump and Republicans in Congress, the bottom rung of the income ladder will see their taxes hiked by more than 50% in order to give the richest 0.1% a $188,000 tax cut. That’s not what Virginians sent us here to do, and we will fight tooth and nail to stop it. We call on Republicans to drop this sham of a bill and instead work with us to provide meaningful relief to working families by bringing down housing and child care costs, cutting taxes for working- and middle-class Americans, and lowering prescription drug prices.”
The nonpartisan Joint Committee on Taxation (JCT) estimates that in the year 2029, when the permanent effects of the GOP tax plan are felt, those earning less than $15,000 a year would see a 53.5% increase in their federal taxes compared to current law. Meanwhile, the top 0.1% – roughly 197,000 taxpayers – would receive a collective $37.1 billion tax cut, amounting to $188,324 per person.
New analysis from the Yale Budget Lab further underscores just how skewed the GOP bill is in favor of the wealthy. The lowest-income households would lose about $800 a year because of the GOP bill, amounting to a 4% hit to their budgets, while the richest 5% would walk away with an average annual windfall of $27,000. Overall, nearly 80% of the bill’s total benefits would go to the top 20% of earners.
Warner and Kaine have been sounding the alarm about the effects of the GOP plan on Virginia if Republicans in Congress continue to insist on gutting vital programs in order to pay for tax breaks for the richest Americans, noting that the GOP bill would strip health insurance from more than 262,000 Virginians, raise energy costs for Virginia households, and jeopardize more than 20,000 Virginia jobs at clean energy and manufacturing facilities benefiting from Inflation Reduction Act investments.

MIL OSI USA News –

May 22, 2025
MIL-OSI: Lakeside Software Names Mike Stankowitsch as VP of Global Channels

Source: GlobeNewswire (MIL-OSI)

BOSTON, May 21, 2025 (GLOBE NEWSWIRE) — Lakeside Software, the first AI-driven digital employee experience company, today announced the appointment of Mike Stankowitsch as the company’s Vice President of Global Channels.

The appointment supports Lakeside’s growing emphasis on strategic partnerships, expanded customer relationships, and innovation in the digital employee experience space.

Stankowitsch brings deep experience in channel leadership, strategic partnership building, and business development for high-growth technology companies. He joins Lakeside from Traliant, a leader in compliance training solutions, where he led efforts to expand the partner ecosystem and drive revenue growth. He previously held channel leadership roles at Axonify and OpenText.

“Mike’s expertise in building alliances and scaling revenue will be instrumental as we continue to grow our global channel presence,” said Todd Elliott, Chief Revenue Officer of Lakeside Software. “Our Partner Program is foundational to Lakeside’s strategy of helping organizations with large, complex IT environments gain complete visibility into their digital estates. Mike’s leadership and extensive experience will strengthen our partner ecosystem and ensure our channel strategy remains aligned with Lakeside’s broader growth goals.”

In this role, Stankowitsch will focus on expanding Lakeside’s global partner network and scaling revenue opportunities through strategic alliances. With global partners including HCLTech, Infosys, Dell, Lenovo, Capgemini, Kyndryl and dozens more, Lakeside’s Partner Program is a critical growth engine, enabling IT services, consulting, and technology providers to deliver greater innovation, customer impact, and operational excellence.

Powered by AI, Lakeside’s SysTrack platform continuously monitors and optimizes complex digital environments, helping partners drive business outcomes through deeper visibility, faster issue resolution, and improved employee experience.

“With Lakeside’s commitment to transforming digital employee experiences through AI-driven intelligence, there’s a tremendous opportunity to build a high-performing channel ecosystem,” said Stankowitsch. “I’m excited to collaborate with our expansive network of partners to deliver greater value and outcomes for customers worldwide.”

Lakeside continues to shape the future of IT through thought leadership and strategic partnerships, including participation in Dell Technology World from May 19-22, 2025, showcasing Dell’s ProSupport Suite with Lakeside in booth #153.

About Lakeside Software
Lakeside Software is ushering in a new era of proactive IT with SysTrack, the industry’s most powerful AI-driven Digital Employee Experience (DEX) platform. Trusted by Fortune 500 companies worldwide, Lakeside SysTrack dramatically reduces IT costs, prevents system failures before they occur, and drives strategic decision-making through unparalleled visibility. Learn how you can save 20% on annual IT costs per employee at lakesidesoftware.com.

Media Contact
Bridget Bell
bridget.bell@lakesidesoftware.com

The MIL Network –

May 22, 2025
MIL-OSI Global: Eldest daughters often carry the heaviest burdens – insights from Madagascar

Source: The Conversation – Africa – By Claire Ricard, Research Fellow at CERDI, Université Clermont Auvergne (UCA)

In recent years, the term “eldest daughter syndrome” has gained traction on social media, as many firstborn daughters share how they had to grow up faster. They often took on caregiving and supportive roles in their families.

In high-income countries, research shows that these responsibilities often bring long-term benefits. Firstborn daughters – and sons – tend to have higher educational attainment and stronger cognitive skills. They also enjoy better job prospects and salaries.

Some studies in low- and middle-income countries have found similar positive effects of being the eldest. But others have found the opposite.

In low-income contexts, economic constraints, cultural practices – such as the involvement of extended families in child-rearing – and inheritance norms may produce very different effects.

Our research brings new insights by examining these dynamics in Madagascar. It is one of the world’s poorest countries. Birth order there strongly shapes the transition to adulthood, especially for firstborn children.

Progress in understanding birth order effects in low-income countries is held back by the lack of detailed, sibling-level data. Our study used a dataset that followed individuals from the ages of 10 to 22, capturing their transition from adolescence to adulthood. It collected detailed information on education, work, health, marriage, and migration. The dataset also captured key demographic and educational details for all living full siblings of each respondent.

We found that firstborns in Madagascar transition into adulthood earlier than their younger siblings. They are more likely to leave school early. They enter the workforce sooner and marry at younger ages. For example, fourth-born children are 1.5 percentage points less likely than firstborns to have never attended school, and 1.1 percentage points more likely to complete post-secondary education.
Or, third-borns are 23% less likely to marry at age 19 than firstborns.

Our findings suggest that later-born children benefit from greater parental investment in education. This leads to better schooling outcomes and delayed entry into the labour market.

Birth order and the transition to adulthood

In Madagascar, early marriage can be a way for families to ease financial pressure. This is especially true since daughters typically join their husband’s household.

When it comes to marriage, we find that later-born children are less likely to marry early than their firstborn siblings – especially after age 17. This trend holds for both boys and girls. The difference appears earlier for girls, which aligns with their younger average age at marriage.

Interestingly, second-born girls are not significantly less likely to marry than their older sisters. This suggests that the eldest daughter does not always bear the full brunt of early marriage risk.
Firstborn daughters often take on caregiving and household roles. These responsibilities may delay their marriage slightly, as families rely on them for day-to-day support.

What explains these birth order effects?

We did not observe significant differences in cognitive skills (like reasoning) or non-cognitive traits (like personality) between firstborns and their younger siblings. Cognitive abilities were assessed through oral and written math and French tests administered at home. These findings contrast with evidence from wealthier countries, where firstborns often outperform their siblings in both cognitive and non-cognitive domains. This may result from greater early parental investment.

In Madagascar, child development may rely less on direct parental input and more on interactions within the extended family. This is consistent with the concept of fihavanana, a cultural principle that emphasises solidarity and mutual support within the extended family.
Rather than benefiting mostly from parental quality time, children – especially later-borns – may develop their cognitive and non-cognitive skills through broader social networks. These include relatives and older siblings.

We also explored whether gender preferences might help explain the differences in outcomes. For instance, if later-born children were disproportionately boys, it could suggest that parents continued having children in hopes of having a son. This could lead to more resources being allocated to that later-born boy. However, our data show an even distribution of boys and girls among later-born children. This suggests that gender-based stopping rules are unlikely to explain the patterns we observe.

Instead, our findings point to economic constraints as the main driver for firstborns transitioning into adulthood earlier than their younger siblings.

In poorer households, particularly in rural areas, firstborn children are often asked to help out financially. This often comes at the cost of their own education. Later-born children, by contrast, receive more investment in their schooling. This may compensate for their limited access to other resources, such as land.

We find no birth order advantage in wealthier households or among families where parents have some education. This again highlights poverty as a key factor shaping these patterns.

The double burden of being firstborn

To sum up, our research shows that, in Madagascar, both male and female firstborns face an earlier transition into adulthood. They leave school and enter the labour market sooner. They marry earlier, although firstborn girls may be at slightly lower risk of early marriage than their younger sisters.

This suggests that, in poor countries, the eldest daughter syndrome is not just about emotional and care-giving responsibilities. It may also come with fewer educational opportunities, greater economic pressure, and an earlier end to childhood. A true double burden for disadvantaged girls. Economic constraints within households largely explain this pattern.

But the story is not only one of constraint. The absence of differences in cognitive and non-cognitive skills suggests that broader community ties, rooted in fihavanana and extended kinship networks, help cushion the impact of early responsibility. These collective structures may not erase inequality, but they offer a vital source of resilience.

As policymakers and practitioners look for ways to promote educational equity, it’s worth remembering that some of the most overlooked trade-offs happen within households. Reducing the weight of those trade-offs – through financial support, community-based programmes, or school retention efforts – could help ensure that the future of one child doesn’t come at the expense of another.

Claire Ricard receives funding from the program “Investissements d’avenir” (ANR-10-LABX-14-01). She’s affiliated to Université Clermont Auvergne, CNRS, IRD, CERDI, F-63000, Clermont-Ferrand and works as an Economist at IDinsight, Rabat, Morocco.

Francesca Marchetta receives funding from the program “Investissements d’avenir” (ANR-10-LABX-14-01).
She’s affiliated to Université Clermont Auvergne, CNRS, IRD, CERDI, F-63000, Clermont-Ferrand and with PEP (Partnership for Economic Policy).

– ref. Eldest daughters often carry the heaviest burdens – insights from Madagascar – https://theconversation.com/eldest-daughters-often-carry-the-heaviest-burdens-insights-from-madagascar-255785

MIL OSI – Global Reports –

May 22, 2025
MIL-OSI Africa: Government proposes fuel levy increase

Source: South Africa News Agency

For the first time in three years, government has proposed an inflation-linked increase to the general fuel levy.

“For the 2025/26 fiscal year, this is the only new tax proposal that I am announcing. It means from 4 June this year, the general fuel levy will increase by 16 cents per litre for petrol, and by 15 cents per litre for diesel,” Minister of Finance Enoch Godongwana said on Wednesday, in Parliament.

The general fuel levy has remained unchanged for the past three years to provide consumers with relief from high fuel price inflation.

Re-tabling the 2025 Budget Review, Godongwana said unfortunately, this tax measure alone will not close the fiscal gap over the medium term.

“The 2026 Budget will therefore need to propose new tax measures, aimed at raising R20 billion. We have allocated an additional R7.5 billion over the medium-term expenditure framework (MTEF), to increase the effectiveness of the South African Revenue Service (SARS) in collecting more revenue.

“Part of this allocation will be used to increase collections from debts owed to the fiscus. SARS has indicated that this could raise between R20 billion to R50 billion in additional revenue per year,” the Minister said.

Another part of the additional allocation to SARS will be used to improve modernisation.

This will include targeting illicit trade in tobacco and other areas, which should boost revenue over the medium term.

“As SARS utilises this investment to raise additional revenue, which I believe can be at least R35 billion, the R20 billion to close the current revenue gap will not have to be raised through taxes.

“Madam Speaker, let me call on every South African, be they individuals, small business operators or large corporates, to honour their tax obligations and contribute to building a better and more equitable nation,” the Minister said.

He thanked all the taxpayers that continue to pay their taxes while emphasising that government does not take taxpayers for granted.

“As a government, we know that we must earn the taxpayer’s trust every day, by spending public money with care and ensuring that every rand collected is spent on its intended purpose.

“We recognise the urgent need to do more to achieve this goal. We are not deaf to the public’s concern about wasteful and inefficient expenditure.

“Our commitment to collect taxes must be matched by better efficiency in how that money is spent. It must be matched by much stricter oversight that quickly identifies problems and provides timely solutions when things go wrong,” the Minister explained.

Expansion of the zero-rated basket withdrawn

Meanwhile, as a result of the withdrawal of the proposed increases in the VAT rate, the expansion of the zero-rated basket, which was included to cushion poorer households from the VAT rate increase, falls away.

Last month, the Minister requested the Speaker of the National Assembly to maintain the Value-Added Tax (VAT) rate at its current level of 15% , reversing the previously proposed 0.5 percentage point increase presented in the 12 March budget.

“Madam Speaker, compared to the March estimates, tax revenue projections have been revised down by R61.9 billion over the three years. This reflects the reversal of the VAT increase and the much weaker economic outlook.

“In this difficult environment, it remains vital that we still take actions to increase revenue to protect and bolster frontline services, while expanding infrastructure investments to drive economic activity,” the Minister said. –SAnews.gov.za

MIL OSI Africa –

May 22, 2025
MIL-OSI Africa: Minister of Finance to deliver budget 3.0
Source: South Africa News Agency

Wednesday, May 21, 2025
Minister of Finance, Enoch Godongwana, will this afternoon, return to Parliament to re-table the 2025 Budget Review.

This decision follows the Minister’s recent announcement and subsequent request to the Speaker of the National Assembly to maintain the Value-Added Tax rate at its current level of 15 percent, reversing the previously proposed 0.5 percentage point increase presented in the 12 March budget.

“The revised budget will adhere to all established technical processes and consultations as set out in the Money Bills and Related Matters Act. This includes formal consultations with the Financial and Fiscal Commission, thorough consultations with all political parties within the Government of National Unity as well as Cabinet approval before presentation to Parliament,” National Treasury said.

Godongwana will deliver the 2025 Budget Speech during the National Assembly plenary at the Cape Town International Convention Centre at 2pm.

The National Treasury has worked on a new fiscal framework that will maintain the trajectory toward debt stabilisation, a crucial element in strengthening our public finances.

This process included:
1. Revising economic assumptions using the latest available data.
2. Generating a updated fiscal projects.
3. Recalculating revenue projections and tax implications.
4. Determining appropriate borrowing strategies.
5. Consolidating these elements into a coherent and sustainable fiscal framework.
  
  – SAnews.gov.za
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MIL OSI Africa –
May 22, 2025
MIL-OSI: Accounting professionals turn to the Rightworks Community for expert insights, proven firm strategies, and best practices trusted by their peers
Source: GlobeNewswire (MIL-OSI)

NASHVILLE, Tenn., May 21, 2025 (GLOBE NEWSWIRE) — RightNOW2025 — Having emerged from yet another demanding tax season, accounting professionals now confront heightened client expectations and limited time to pursue innovation and growth.

To help with navigating these persistent obstacles, Rightworks today announced Rightworks Community, its online platform that offers accounting and tax professionals the latest tools, insights, and actionable strategies from the profession’s most trusted advisors to help drive progress and inspire future-forward firms.

Rightworks Community combines the company’s two decades of leadership with its robust network of seasoned in-house and external experts to give members:
- Centralized Resources: A growing range of educational content including templates, guides, articles, videos, podcasts, and CPE-eligible courses to enhance firm efficiency and deepen expertise.
- Community Engagement: A collaborative space to develop winning strategies with like-minded professionals, benefit from mutual accountability, and receive expert guidance to navigate unique challenges and achieve their goals.
- Emerging Best Practices: The latest trends and most effective tactics, featuring live and on-demand events, from mainstage presentations to in-depth workshops and wellness sessions led by top industry leaders, including Jason Staats, Ryan Lazanis, and more.
In early May, Rightworks Community completed its 2025 Tax Season Programming, which included events led by Amy Vetter, CPA, Yogi, and CEO of The B3 Method Institute. The free wellness sessions were designed to support mental clarity and optimize productivity during one of the profession’s most stressful seasons.

“The Rightworks Tax Season Programming, particularly Amy Vetter’s Chair Yoga and Mindful Meditation sessions, genuinely made a difference during a typically high-pressure time. Starting my day with these practices put my mind at ease, reduced stress, and l highly recommend attending a session to anyone seeking a positive way to begin their day,” said Susan Bannwart, CPA and President of Highpoint Advisory Services. “I’m excited to see the Chair Yoga sessions return and hope they’ll be back for next tax season.”

Free 60-Day Membership Offer for RightNOW2025 Attendees

To help turn their conference experience into a year-round actionable plan, Rightworks Community is extending 60 days of free Advantage membership through July 1 to RightNOW2025 attendees. The special offer is designed to enable attendees to continue learning, growing, and connecting with peers post-conference through roundtable events hosted by RightNOW2025 speakers, including Hector Garcia, Will Hill, and John Mitchell.

“We created the Rightworks Community as part of our mission to help advance the accounting profession,” said Joel Hughes, CEO of Rightworks. “The Community is an interactive space where accounting and tax professionals can collaborate with colleagues and trusted experts who understand their challenges. Members have access to comprehensive resources that bridge the gap between traditional practices and modern strategies.”

To learn more about Rightworks Community and to sign up, click here.

Connect with Rightworks
Visit our newsroom; read our blog; and follow us on LinkedIn, Facebook, and Instagram.

About Rightworks
Rightworks enables accounting firms and businesses to significantly simplify operations and expand their value to clients via our award-winning intelligent cloud and learning resources. This is possible with Rightworks OneSpace, the only secure cloud platform purpose-built for the accounting and tax profession, and our premier community for firm optimization, growth, and professional development. Founded in 2002, we’ve grown to serve over 10,000 accounting firms in the US—from single practitioners to Top 10 firms. For more information, please visit rightworks.com or follow us on LinkedIn, Facebook, and Instagram.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/620f46d1-db97-4811-a45f-8da51593f793

The MIL Network –
May 22, 2025
MIL-OSI: Bilibili Inc. Announces Pricing of Upsized Offering of US$600 Million Convertible Senior Notes

Source: GlobeNewswire (MIL-OSI)

SHANGHAI, May 21, 2025 (GLOBE NEWSWIRE) — Bilibili Inc. (“Bilibili” or the “Company”) (Nasdaq: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced the pricing of its upsized offering (the “Notes Offering”) of US$600 million in aggregate principal amount of convertible senior notes due 2030 (the “Notes”). The Notes have been offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company has granted the initial purchasers in the Notes Offering an option to purchase up to an additional US$90 million principal amount of the Notes, exercisable for settlement within a 30-day period beginning on, and including, the date on which the Notes are first issued.

The Company plans to use the net proceeds from the Notes Offering to enhance its content ecosystem to facilitate user growth, facilitate IP asset creation, and unleash its inherent potential. The Company also plans to use the net proceeds from the Notes Offering to improve its overall monetization efficiency, fund the Concurrent Repurchase (as defined below), fund future repurchases (from time to time) under its share repurchase program, and for other general corporate purposes.

When issued, the Notes will be senior, unsecured obligations of the Company. The Notes will mature on June 1, 2030, unless repurchased, redeemed or converted in accordance with their terms prior to such date. Holders may convert their Notes at their option at any time prior to the close of business on the seventh scheduled trading day immediately preceding the maturity date. The initial conversion rate of the Notes is 42.1747 Class Z ordinary shares per US$1,000 principal amount of Notes (which is equivalent to an initial conversion price of approximately HK$185.63 per Class Z ordinary share and represents a conversion premium of approximately 27.1% above the closing price HK$146.00 per Class Z ordinary share of the Company on the Hong Kong Stock Exchange on May 21, 2025) and a premium of approximately 32.5% to the clearing share price of the Concurrent Delta Offering of HK$140.10 per Class Z ordinary share of the Company, and is subject to adjustment upon the occurrence of certain events described below. Upon conversion, subject to certain procedures and conditions set forth in the terms of the Notes, the Company will cause to be delivered the Company’s Class Z ordinary shares, par value US$0.0001 per share. Holders may elect to receive the Company’s American depositary shares (“ADS”), each representing one Class Z ordinary share, in lieu of Class Z ordinary shares deliverable upon conversion.

The Company may redeem for cash all or any part of the Notes on or after June 6, 2028 if the last reported sale price of the Class Z ordinary shares has been at least 130% of the conversion price for the Notes then in effect for at least 20 trading days, whether or not consecutive, during any 30 consecutive trading day period preceding the date on which the Company provides notice of redemption (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption (the “Optional Redemption”). In addition, the Company may redeem for cash all but not part of the Notes at any time if less than 10% of the aggregate principal amount of Notes originally issued remains outstanding at such time (the “Cleanup Redemption”). The Company may also redeem the Notes upon the occurrence of certain tax-related events (the “Tax Redemption”). Holders of the Notes may require the Company to repurchase for cash all or part of their Notes in cash on June 1, 2028, or in the event of certain fundamental changes. In connection with certain corporate events or if the Company issues a notice of Optional Redemption, Cleanup Redemption or Tax Redemption, it will, under certain circumstances, increase the conversion rate for holders who elect to convert their Notes in connection with such corporate event or such Optional Redemption, Cleanup Redemption or Tax Redemption.

The Notes will bear interest at a rate of 0.625% per year, payable semiannually in arrears on June 1 and December 1 of each year, beginning on December 1, 2025.

The Company also announced the pricing of the previously announced concurrent offering of its 10,281,240 Class Z ordinary shares that are being borrowed from non-affiliate third parties and offered in a separate underwritten offering by Goldman Sachs (Asia) L.L.C. and Morgan Stanley Asia Limited (the “Underwriters” and the “Concurrent Delta Offering”, respectively), each acting severally on behalf of itself and/or its respective affiliates, at HK$140.10 per Class Z ordinary share. The Underwriters will use the resulting short position to facilitate hedging transactions by certain investors subscribing for the Notes, who employ a convertible arbitrage strategy (the “Convertible Arbitrage Investors”). The Company has been advised that each Underwriter is concurrently entering into off-market privately negotiated derivative transactions relating to the Class Z ordinary shares, enabling Convertible Arbitrage Investors to establish their initial short positions in the Class Z ordinary shares to hedge market risk in the Notes. The number of Class Z ordinary shares subject to the Concurrent Delta Offering generally corresponds to such initial short positions of the Convertible Arbitrage Investors. No new Class Z ordinary shares will be issued in the Concurrent Delta Offering. Any securities sold in the Concurrent Delta Offering are being offered and sold through a concurrent SEC-registered offering pursuant to a separate prospectus supplement and an accompanying base prospectus. The Company will not receive any proceeds from the Concurrent Delta Offering. The Notes Offering and the Concurrent Delta Offering are contingent upon each other.

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

Other Matters

The Notes, the Class Z ordinary shares deliverable upon conversion of the Notes or the ADSs deliverable in lieu thereof have not been registered under the Securities Act, or any state securities laws. They may not be offered or sold within the United States or to U.S. persons, except in reliance on the exemption from registration under the Securities Act.

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

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

Safe Harbor Statement

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

About Bilibili Inc.

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

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

For investor and media inquiries, please contact:

In China:

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

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

In the United States:

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

The MIL Network –

May 22, 2025
MIL-OSI: Bilibili Inc. Announces Pricing of Offering of Class Z Ordinary Shares in Connection with Hedging Transactions of Certain Convertible Notes Investors and Terms of Concurrent Repurchase

Source: GlobeNewswire (MIL-OSI)

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

Concurrently, the Company announced pricing of the upsized offering (the “Notes Offering”) of US$600 million in aggregate principal amount of convertible senior notes due 2030 (the “Notes”) pursuant to Rule 144A under the Securities Act of 1933, as amended. The Company intends to grant the initial purchasers in the Notes Offering a 30-day option to purchase up to an additional US$90 million in principal amount of the Notes.

In connection with the Notes Offering, the Company announced the Concurrent Delta Offering, under which 10,281,240 of the Company’s Class Z ordinary shares, that have been borrowed from non-affiliate third parties are being offered in a separate underwritten offering by Goldman Sachs & Co. LLC and Morgan Stanley Asia Limited (the “Underwriters”), each acting severally on behalf of itself and/or its respective affiliates, at HK$140.10 per Class Z ordinary share. The Underwriters will use the resulting short position to facilitate hedging transactions by certain investors subscribing for the Notes, who employ a convertible arbitrage strategy (the “Convertible Arbitrage Investors”). The Company has been advised that each Underwriter is concurrently entering into off-market privately negotiated derivative transactions relating to the Class Z ordinary shares, enabling Convertible Arbitrage Investors to establish their initial short positions in the Class Z ordinary shares to hedge market risk in the Notes. The number of Class Z ordinary shares subject to the Concurrent Delta Offering generally corresponds to such initial short positions of the Convertible Arbitrage Investors. No new Class Z ordinary shares will be issued in the Concurrent Delta Offering. The Company will not receive any proceeds from the Concurrent Delta Offering. The Notes Offering and the Concurrent Delta Offering are contingent upon each other.

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

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

Other Matters

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

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

Safe Harbor Statement

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

About Bilibili Inc.

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

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

For investor and media inquiries, please contact:

In China:

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

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

In the United States:

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

The MIL Network –

May 22, 2025
MIL-OSI: Creatd, Inc. Publishes Q1 2025 Financial Report Highlighting a $7.9M Improvement in Net Equity
Source: GlobeNewswire (MIL-OSI)

NEW YORK, May 21, 2025 (GLOBE NEWSWIRE) — Creatd, Inc. (OTC: CRTD), a holding company focused on acquiring synergistic companies, today announced the publication of its Q1 2025 financial results.

Q1 2025 Highlights:
- Net equity improved by $7.9 million in Q1 2025, an 80% quarter-over-quarter increase from Q4 2024.
- Revenues reached $721,815, up from $428,000 in Q1 2024, representing 70% year-over-year growth
- Continued execution of uplisting strategy focused on strengthening the balance sheet and acquiring accretive operating businesses
A major contributor to the first quarter’s performance was the completed acquisition of Flyte, an emerging platform in the private aviation and travel technology sector. Flyte’s addition supports Creatd’s strategy of acquiring established businesses that deliver immediate financial results and align with long-term strategic goals.

The momentum from Q1 is carrying into Q2, notably with yesterday’s announcement of Creatd’s intent to acquire a stake in PCG Advisory and its affiliated companies for a collective $2.3 million. Given recent developments in Q2, Creatd has now achieved positive net equity for the first time in over four years since its Nasdaq listing. This is an important step toward applying for an uplisting to a national exchange in Q3 2025.

With a targeted closing at the end of June 2025, the PCG transaction is one of several deals designed to further increase the company’s net equity. In tandem, Creatd is reducing liabilities and advancing additional strategic transactions already in motion.

Jeremy Frommer, CEO of Creatd, commented:

“In addition to our accretive acquisitions and overall reduction in liabilities, we’re seeing improving financials across our existing businesses, Vocal and OG Collection. While many microcap companies chase short-term wins at shareholders’ expense, we’re focused on fundamentals: growing revenue and maintaining a strong balance sheet. We’re laying the groundwork for an uplisting, one transaction at a time.”

The full Q1 2025 Quarterly Report is available on OTC Markets.

About Creatd, Inc.
Creatd, Inc. focuses on investments and operations across technology, media, aviation, advertising, and consumer sectors. By leveraging its expertise in structured finance and acquisitions, Creatd identifies and nurtures opportunities within small-cap companies, driving growth and innovation across its diverse portfolio.

For investor inquiries, contact:
ir@creatd.com

The MIL Network –
May 22, 2025
MIL-OSI Economics: AI multi-agent orchestration drives more personalized cancer care
Source: Microsoft

Headline: AI multi-agent orchestration drives more personalized cancer care

Every year, 20 million people globally are diagnosed with cancer.¹ Every patient is unique, with hundreds of distinct tumor sub-types, each demanding treatment protocols involving new drugs, combinations, clinical trials, and device-based therapies. Top cancer centers rely heavily on multidisciplinary tumor boards—dedicated sessions where radiologists, pathologists, surgeons, oncologists, genetic counselors, and other specialists undertake sophisticated analysis of vast patient data and knowledge to align on personalized care plans.

Because of the immense preparation and specialization required, less than 1% of these patients have access to these personalized treatment plans, which have demonstrably improved patient outcomes.

A recent American Society of Clinical Oncology (ASCO) study highlighted that clinicians spend between 1.5 to 2.5 hours per patient, meticulously reviewing imaging, pathology slides, clinical notes, and genomic data.² And cancer care is just one example of the complex data analysis healthcare requires. Agentic AI holds the potential to reduce administrative friction and further transform care delivery.

The healthcare agent orchestrator is available now in the Azure AI Foundry Agent Catalog. It features pre-configured agents with multi-agent orchestration and open-source customization options that allow developers and researchers to build agents that coordinate multi-disciplinary multimodal healthcare data workflows, such as tumor boards, and streamline deployment into healthcare enterprise productivity tools (such as Microsoft Teams and Word). Modular, general reasoners as well as specialized, multimodal AI agents work together to address tasks that would take hours, with the goal to effectively augment clinician specialists with customized cutting-edge agentic AI.

Microsoft Build 2025 session: Transform Cancer Care Management with Multimodal AI Agents

By integrating the latest capabilities from across Microsoft, the healthcare agent orchestrator can manage analysis and reasoning over diverse healthcare data types—ranging from imaging (DICOM files) and pathology (whole-slide images) to genomics data and clinical notes from electronic health records (EHRs). Each agent is equipped with advanced AI models from Azure AI Foundry, combining general-purpose reasoning capabilities with healthcare-specific modality models to drive actionable insights grounded in multimodal clinical data.

Key capabilities of healthcare agent orchestrator
- Orchestrating agentic capabilities that can reason over complex EHR data and augment time-consuming tasks like building a chronological patient timeline, determining cancer stage, using specific reference guidelines, reviewing radiology and pathology images, synthesizing current medical literature, referencing treatment guidelines, surfacing relevant clinical trials, and generating customized reports.
- Providing tools that connect enterprise healthcare data through Microsoft Fabric and the fast healthcare interoperability resources (FHIR) data service.
- Ensuring interoperability and integration into existing workflows, including distribution to familiar tools the majority of healthcare organizations already use—Teams, Word, PowerPoint, and Microsoft 365 Copilot—where users can interact with AI agents.
- Providing robust explainability capabilities in agentic AI-generated outputs, such as grounding responses to the source EHR data—critical for validation, trust, and adoption in high-stakes healthcare environments.
Researchers and developers at leading cancer care institutions—including Stanford University, Johns Hopkins, Providence Genomics, Mass General Brigham, and the University of Wisconsin School of Medicine and Public Health—are currently exploring the healthcare agent orchestrator to study how agentic AI could deliver value to complex clinical tasks such as cancer care.

“Stanford Medicine sees 4,000 tumor board patients a year, and our clinicians are already using foundation model generated summaries in tumor board meetings today (via a PHI safe instance of GPT on Azure). The new healthcare agent orchestrator has the power to streamline this existing workflow by reducing fragmentation (saving time by avoiding copy-pasting) and enables surfacing new insights from data elements that were challenging to search, such as trial eligibility criteria, treatment guidelines, and real-world evidence. Stanford Health Care is excited further research the potential of using the healthcare agent orchestrator to build the first generative AI agent solution used in a production setting for real-world care for our cancer patients.”

—Dr. Mike Pfeffer, Chief Information Officer, Stanford Health Care and Stanford School of Medicine

“The vision of the healthcare agent orchestrator is to rapidly surface, summarize, and take action on relevant multimodal medical information for each complex cancer case, so hours of review can become minutes. Collaborating with Microsoft allows us to explore the value of these models for tumor boards and beyond.”

—Dr. Joshua Warner, Radiologist at UW Health and Assistant Professor of Radiology, UW School of Medicine and Public Health

Early development collaborations featured the integration of this multi-agent workflow into Teams chats, where, for example, group chats enabled conversations between multiple human experts and specialized healthcare AI agents connected to specific healthcare data. It demonstrated the promise to significantly enhance efficiency and collaboration among clinical providers. This capability is already bringing clinicians and developers together to build the agentic healthcare applications of the future: the catalyst is the powerful combination of healthcare-specific agents using general reasoning models and multimodal healthcare foundation models alongside the ability to interact directly with custom agents using Teams.

For example, Johns Hopkins oncologists Dr. Vasan Yegnasubramanian, Dr. Elsa Anagnostou, and Dr. Taxiarchis Botsis and their developer teams in the Johns Hopkins inHealth Precision Medicine program and Molecular Tumor Board are providing their expertise to refine and test the system to ensure it would have high utility if used in their clinical and precision medicine applications.

Coordinating collaboration of specialized agents

The healthcare agent orchestrator builds upon recent research and releases from Microsoft Research and our collaborators. It coordinates collaboration of specialized agents designed explicitly for complex multidisciplinary clinical workflows like cancer care.
- The orchestrator leverages Semantic Kernel and Magentic-One to coordinate agents, maintain shared memory, and interact with the human in the loop.
- The patient history agent leverages Universal Medical Abstraction to organize patient data chronologically.³ Manual work that can take experts over three hours happens in minutes.
- The radiology agent leverages customer fine-tuned models like CXRRepotGen/MAIRA-2 to analyze radiology images for a second read.⁴
- The pathology agent demonstrates how to connect to external agents like Paige.ai’s “Alba” pathology agent to address complex queries related to pathology images (available in preview).⁵
- The cancer staging agent refers to the American Joint Committee on Cancer (AJCC) clinical guidelines to support accurate cancer staging.
- The clinical guidelines agent refers to the National Comprehensive Cancer Network (NCCN) clinical guidelines to suggest recommended treatment plans.
- The clinical trials agent identifies eligible clinical trials by matching patient profiles against databases such as ClinicalTrials.gov. This can result in more than double the recall improvement compared to the publicly available Critera2Query baseline.⁶
- The medical research agent delivers actionable, evidence-based guidance grounded on graph-based knowledge from trusted medical journals.
- The report creation agent automates comprehensive, integrated, richly formatted reporting that serves as a trusted reference during multidisciplinary meetings.
“As we progress towards the routine use of multi-agent systems, the healthcare agent orchestrator demonstrates the power to simplify the integration of various models and agents with productivity tools that clinicians are already using. The flexible orchestration framework will make it easy for us at Paige to continue to focus on our pathology agents while enabling their integration into the larger cancer care workflow and leverage access to multi-modal data.”

—Razik Yousfi, Chief Executive Officer of Paige.ai

The orchestrator is intentionally open-ended: any approved agent—including third-party—that exposes an API, tool wrapper, or MCP endpoint can be pulled into a Teams conversational thread. Paige.ai is shipping their Alba agent in preview, the first example of an external agent that can be connected to healthcare agent orchestrator. Built on Paige’s foundation-scale vision models and coupled with a conversational large language model (LLM) front-end, Alba delivers real-time conversational digital pathology insights such as tumor grade, morphology, and biomarker status directly from whole-slide images.

“Providence clinical researchers have begun leveraging advanced AI capabilities provided by the healthcare agent orchestrator to quickly and efficiently parse through large sets of publications, clinical trials and electronic health records. We are excited about its potential to enhance our ability to interpret genomics and match clinical trials in the molecular tumor boards, ultimately benefiting patient care by providing more precise and timely treatment options. Its integration into our workflows also will help streamline communication and collaboration among clinical providers, ensuring that critical clinical information is shared promptly and accurately. As we continue to explore new ways to understand the biology of cancer, its capabilities will be instrumental in driving medical discoveries and advancing cancer treatment.”

—Carlo Bifulco, MD, Chief Medical Officer of Providence Genomics and research faculty at the Earle A. Chiles Research Institute

Empowering developers to accelerate innovations for care teams

As clinical care complexity escalates, the healthcare agent orchestrator empowers developers to confidently navigate the accelerating era of agentic AI, collaborate with clinicians, and democratize precision medicine tools by surfacing these capabilities into existing workflows. The initial framework is designed to study the opportunity of assisting tumor boards. The ultimate vision is to empower healthcare and life science developers to research how agentic AI capabilities could impact clinicians and patients more widely by providing real-time support to multidisciplinary care teams across the healthcare ecosystem.

Healthcare developers and clinical organizations are invited to explore healthcare agent orchestrator, available through the Azure AI Foundry Agent Catalog. Engage with the next generation of AI-powered healthcare agents today.

Contact Microsoft Healthcare AI Team

¹ Global cancer statistics 2022: GLOBOCAN estimates of incidence and mortality worldwide for 36 cancers in 185 countries, CA: A Cancer Journal for Clinicians, April 4, 2024.

² Using an Adapted Tumor Board Evaluation Tool for Quality Assessment of a Thoracic Multidisciplinary Cancer Conference: A Pilot Study, JCO Clinical Cancer Informatics, October 5, 2023.

³ Universal Abstraction: Harnessing Frontier Models to Structure Real-World Data at Scale, February 2, 2025

⁴ MAIRA-2: Grounded Radiology Report Generation, June 6, 2024

⁵ Nature Medicine, A foundation model for clinical-grade computational pathology and rare cancers detection, July 22, 2024

⁶ Scaling Clinical Trial Matching Using Large Language Models: A Case Study in Oncology, August 4, 2023

Disclaimer

Healthcare agent orchestrator is intended for research and development use. It is not designed or intended to be deployed in clinical settings as-is nor is it intended for use in the diagnosis or treatment of any health or medical condition, and its performance for such purposes has not been established. You bear sole responsibility and liability for any use of healthcare agent orchestrator, including verification of outputs and incorporation into any product or service intended for a medical purpose or to inform clinical decision-making, compliance with applicable healthcare laws and regulations, and obtaining any necessary clearances or approvals.

Matthew Lungren, MD, MPH

Chief Scientific Officer, Health and Life Sciences

Dr. Matthew Lungren is the Chief Scientific Officer for Microsoft Health and Life Sciences, where he leads efforts to translate cutting-edge technologies—including generative AI and cloud services—into real-world healthcare applications. He is also a Clinical Associate Professor at UCSF and an Adjunct Professor in Biomedical Data Science at Stanford University.

See more articles from this author
MIL OSI Economics –
May 22, 2025
MIL-OSI: XRP News: Ripple Whales monitor as Nimanode set to Kick-off $NMA token Presale

Source: GlobeNewswire (MIL-OSI)

LEEDS, United Kingdom, May 21, 2025 (GLOBE NEWSWIRE) — The highly anticipated $NMA token presale for Nimanode is officially scheduled to commence on May 22nd, 2025 at 3 PM UTC.

Excitement grows in the XRPL ecosystem as the first-of-its-kind No-Code AI Agent builder platform announces the date for their presale. As it is anticipated to be the most impactful in XRP history. Get Early Access

Whales on the XRPL Ecosystem are positioned and interested in becoming the front-runners as XRPL, a blockchain in desperate need for real innovation, witnesses its first tilt towards Blockchain Infrastructure.

Nimanode introduces a convergence of On-Chain execution and Off-chain intelligence to create AI agents that can execute smart contracts, automate DeFi strategies, integrate APIs, monitor NFTs, manage tasks across chains, and evolve over time — all without writing a single line of code.

Why Nimanode is Stealing the Spotlight?

Nimanode is creating the future of work through AI Agents, offering a no-code gateway to advanced agent-driven ecosystems, making it a game-changer for both developers and non-technical users.

This AI-powered platform is built on the XRP Ledger for high speed, low cost, and unmatched scalability. With its zero-code agent builder and decentralized agent marketplace, Nimanode is unlocking real-world utility for creators, developers, and businesses alike.

Whether you’re launching a dApp, managing RWA, automating your smart contracts, or building Institutional workflows, Nimanode is the only toolkit you’ll need.

Join Telegram Community

An Ecosystem Powered By $NMA

At the heart of Nimanode ecosystem lies $NMA, the utility and governance token that powers agent deployment, upgrades, voting etc, designed with a deflationary mechanism in mind to promote scarcity and long term value. Offering various utilities such as

Agent Builder: NMA will serve as fuel for the creation and deployment of AI agents on the platform.
Agent Marketplace: Holders of NMA will be able to access discounts and purchase agents on Nimanode’s Agent marketplace.
Governance Participation: Holders are offered a position in the DAO to participate in Governance and vote on proposals.
Staking & Reward: Staking $NMA will serve as a means of passive income to holders. Revenue generated on the platform will also be shared to holders.

Visit Presale Page

Rising Momentum Indicates Massive Potential

The Nimanode community is rapidly gaining momentum, with early supporters, XRP whales, developers, and AI enthusiasts rallying around its bold vision of an autonomous agent-driven Web3.

Whales are already positioned and ready to partake in the Presale which could deliver exceptional returns as a 25% return on DEX Listing is already planned for $NMA.

Do not Miss Out!

$NMA token launch is more than just a token sale, it’s a leap toward ownership of intelligent, automated blockchain infrastructure.

With a limited 30-day window beginning on March 22nd, early birds are getting an edge and advantage in what could be the most impactful Presale towards innovation on the XRP ecosystem.

Website: https://nimanode.com

Twitter/X: https://x.com/nimanodeai

Telegram: https://t.me/nimanodeAI

Documentation: https://docs.nimanode.com

Contact:
Nick Lambert
contact@nimanode.com

Disclaimer: This is a paid post and is provided by Nimanode. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b41e8484-b81f-4a4a-b19f-803976fcfcfa

The MIL Network –

May 22, 2025
MIL-OSI: BitMart Research: Rising Stars in MEME Token Platforms: An In-Depth Look at the Mechanisms and Outlook of Believe and LetsBonk.fun
Source: GlobeNewswire (MIL-OSI)

Mahe, Seychelles, May 21, 2025 (GLOBE NEWSWIRE) — BitMart Research, the research arm of BitMart Exchange, has released a comprehensive analysis spotlighting two rapidly emerging forces in the MEME token issuance landscape: Believe and LetsBonk.fun. As competition in the meme economy intensifies, these platforms are reshaping token creation through innovative launch mechanics, deep community integrations, and disruptive incentive structures. The report examines Believe’s algorithmic, social-influence–driven token generation on X, and LetsBonk.fun’s seamless in-app token deployment rooted in the Solana ecosystem. With explosive user growth, increasing market capitalizations, and novel monetization models, both platforms are challenging incumbents like Pumpfun and setting new standards for community-led, creator-first Web3 ecosystems.

1.Believe

Introduction to Believe

Believe is a MEME token issuance platform founded by Ben Pasternak. Formerly known as Clout.me—with a “celebrity token” model—the project rebranded to focus squarely on “social assetization.” Its core mechanism allows any user to tweet on X in the format $TICKER+NAME and mention @launchcoin. The system then uses an algorithm to assess the user’s social influence and, if criteria are met, automatically triggers a smart-contract–based token deployment. Approved tokens first enter a bonding-curve issuance phase and receive a $10,000 seed fund from the platform to support the founding team. Once a token’s market capitalization surpasses $100,000, it moves into a liquidity-enhancement phase by migrating to the Meteora protocol for deep market-making support.

According to the official economic model, the platform applies a 2% transaction fee: 1% is awarded to the token creator as an incentive, 0.1% goes to community evangelists, and the remaining 0.9% funds platform maintenance. This tiered revenue structure both safeguards creators’ core interests and fuels community-driven early promotion, while providing the financial foundation for sustainable platform growth.

Popular Projects on Believe
1. LaunchCoin
As the flagship token of the Believe ecosystem, LaunchCoin is an upgraded iteration of Ben Pasternak’s early PASTERNAK token, fully embodying the brand evolution from Clout.me to the Believe platform. On its first day of trading, LaunchCoin reached a $80 million market capitalization. After weathering market fluctuations, it began a strong recovery on May 11 and has since grown to a $330 million market cap—40× its launch valuation—with over 27,000 unique holders.
1. Dupe
Dupe is the ecosystem token for the furniture-affordable–search engine Dupe.com. The platform’s official Instagram boasts 367,000 followers, and its monthly active user base exceeds 1 million. Dupe’s market cap peaked at $70 million and currently hovers around $34 million.
1. Goonc
Issued by Pata van Goon—an engineer from the OpenAI tech team—GOONC quickly went viral thanks to its technical-elite endorsement. The token’s market cap once surged to $70 million and now steadies in the $45.5 million range.

2. LetsBonk.fun

Introduction to LetsBonk.fun

LetsBonk.fun is a meme token issuance platform co-launched by BONK—the leading meme project in the Solana community—and Raydium. Positioned as Solana’s LaunchPad + creator-incentive hub, the platform went live on April 26. Its popularity has recently exploded thanks to meme projects like Hosico, Useless, and IKUN. Token issuance is as simple as clicking “Create Token” within the app, though a minimum 2 SOL of liquidity must be provided before the token can be listed for trading on Raydium.

LetsBonk.fun Revenue Model

Every trade on the platform incurs a 1% fee, which is allocated to the development fund, BONKsol validators, and BONK buy-and-burn. Specifically:
- 35% of revenue is used to buy back and burn BONK, implementing a deflationary mechanism
- 30% is used to purchase and stake BONKsol to secure and provide liquidity for the network
- 19.2% is directed to an ecosystem development fund
- 7.6% goes into strategic reserves
- 7.6% is allocated for technical development and operations (split equally among hiring, growth & development, and integrations)
- 12% is dedicated to user incentives and marketing, broken down into 4% BonkRewards, 4% marketing, and 4% community-governance support (SBR)
Between April 29 and May 15, daily revenue surged from roughly 2,000 SOL to 24,000 SOL—a more than 12× increase—while token issuance spiked to nearly 50,000 tokens on May 15 (a 233% rise over average).

Popular Projects on LetsBonk.fun
1. Hosico
Inspired by the Instagram-famous cat with 1.8 million followers and rendered in a Ghibli-style AI aesthetic, Hosico’s token launched at 4 AM and reached a $10 million market cap within its first hour. It later peaked at $60 million and currently sits at around $22 million.
1. USELESS
Born from a tweet by BONKGUY on X—“This is a useless currency; it shouldn’t be pumped”—USELESS rode its nihilistic, emotionally charged narrative to rapid fame. Since launch on BONK, its market cap soared to $34 million and now stabilizes at approximately $24 million.

3. Competitive Analysis: Believe, LetsBonk.fun, Pumpfun, and Others

Believe’s distinct advantage lies in its X-based token issuance mechanism: projects cannot pre-sell tokens before launch and must rely on secondary-market trading or social-tag purchases. It charges no listing fee, but requires a relatively high entry barrier of roughly 85 SOL, which may slow initial liquidity. In contrast, LetsBonk.fun supports dual issuance both on its own platform and via X, and is tightly integrated with the BONK token; it even returns 10% of fees to liquidity providers upon exit to incentivize deployment.

Overall, neither model represents a revolutionary departure from existing MEME-token platforms; they primarily optimize issuance methods and add ancillary features. Although both have recently captured some of Pumpfun’s daily issuance volume, they still lag significantly behind Pumpfun’s overall scale.

Daily new MEME issuance

4. Future Outlook

The MEME-token space is currently crowded with largely homogeneous issuance platforms. While platforms like Believe and LetsBonk.fun may siphon off some of Pumpfun’s short-term hype, long-term sustainability—once speculative capital recedes—will be the market’s true test. To date, Believe has greatly simplified the MEME-token launch process via X, and LetsBonk.fun has created strong ecosystem synergy through deep BONK integration. As market enthusiasm cools and new competitors emerge, their ability to maintain momentum will hinge on whether they can introduce fresh innovations or incubate genuinely “wealth-creating” MEME assets.

Read the full research article here:

About BitMart

BitMart is the premier global digital asset trading platform. With millions of users worldwide and ranked among the top crypto exchanges on CoinGecko, it currently offers 1,700+ trading pairs with competitive trading fees. Constantly evolving and growing, BitMart is interested in crypto’s potential to drive innovation and promote financial inclusion. New users can register here to unlock an $8,000+ welcome bonus.

Risk Warning:

The information provided is for reference only and should not be considered a recommendation to buy, sell or hold any financial asset. All information is provided in good faith. However, we make no representations or warranties, express or implied, as to the accuracy, adequacy, validity, reliability, availability or completeness of such information.

All cryptocurrency investments (including returns) are highly speculative in nature and involve significant risk of loss. Past, hypothetical or simulated performance is not necessarily indicative of future results. The value of digital currencies may rise or fall, and there may be significant risks in buying, selling, holding or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial situation and risk tolerance. BitMart does not provide any investment, legal or tax advice.

The MIL Network –
May 22, 2025
MIL-OSI United Kingdom: New Lord Mayor and Sheriff of Norwich appointed at full council meeting

Source: City of Norwich

A new Lord Mayor and Sheriff of Norwich have officially taken up their ceremonial roles following yesterday’s (Tuesday 20 May) full council meeting at City Hall.

Councillor Paul Kendrick has been appointed Lord Mayor of Norwich for the coming civic year, taking over from Councillor Vivien Thomas. Stuart Wright has been named the new Sheriff of Norwich, succeeding Sirajul Islam.

The positions of Lord Mayor and Sheriff are historic and ceremonial roles, representing the city at civic and public events, supporting local charities, and acting as ambassadors for city.

Lord Mayor of Norwich – Councillor Paul Kendrick

Councillor Paul Kendrick has served as a councillor on Norwich City Council since 2011, representing the Catton Grove ward. For the past nine years, he has held the position of cabinet member for finance, playing a key role in maintaining the council’s sound financial position.

Under his stewardship, Norwich City Council has remained one of the few local authorities in the country to retain a 100% Council Tax reduction scheme for its lowest-income residents and has continued its commitment to being a Living Wage employer.

Before moving to Norwich, Cllr Kendrick was active in local government across the south-east, serving on Hastings Borough Council, East Sussex County Council, and Kent County Council. During his time as chairman of Kent’s Highways Committee, he oversaw a major infrastructure programme linked to the Channel ports – managing the largest highways capital budget in the county at the time.

Cllr Kendrick is 66 years old and has three children – James, Joanne and Daniel. His daughter Joanne will serve as Lady Mayoress during his term of office.

Sheriff of Norwich – Stuart Wright

Stuart Wright has a long-standing connection with the city and brings a wealth of experience from both public service and the private sector.

He began his career as an officer in the Royal Engineers, where he trained as a military and civil engineer. After 20 years in the Army, he moved into the corporate world, holding senior leadership roles at PA Consulting and Aviva. At Aviva, his focus was on the planning, design and delivery of shared services across the UK and Europe.

Stuart later led Aviva’s global net zero strategy, overseeing carbon reduction efforts across all operations, subsidiaries and joint ventures. His commitment to sustainability and social responsibility has also seen him champion the real Living Wage – chairing the UK Living Wage Foundation Advisory Council from 2016 to 2021 and currently serving as a trustee of Citizens UK.

Stuart lives near Hingham and enjoys gardening, restoring a vintage tractor, and spending time with his three grown-up children and granddaughter, all of whom live locally.

This year, the Lord Mayor’s civic charity is Norfolk & Waveney Mind, a local mental health charity that provides vital support, advice and services to help people experiencing mental health difficulties across the region.

You can find out more about the roles of the Lord Mayor and the Sheriff of Norwich by visiting https://bit.ly/NorwichMayorAndSheriff

MIL OSI United Kingdom –

May 22, 2025
MIL-OSI: Diamond Equity Research Releases Update Note on Almonty Industries, Inc. (TSX: AII) (ASX: AII) (OTCQX: ALMTF)
Source: GlobeNewswire (MIL-OSI)

New York, May 21, 2025 (GLOBE NEWSWIRE) — Diamond Equity Research, a leading equity research firm with a focus on small capitalization public companies has released an Update Note Almonty Industries, Inc. (TSX: AII) (ASX: AII) (FWB: ALI) (OTCPK: ALMT.F). The update note includes detailed information on the Almonty Industries’ business model, services, industry overview, financials, valuation, management profile, and risks.

The full research report is available below.

Almonty Industries Update Note May 2025

Highlights from the report include:
- Almonty Industries Secures Strategic Three-Year Offtake Agreement for Tungsten Oxide with Tungsten Parts Wyoming; Provides Predictable Revenue and Strengthens Strategic Alliances within U.S. and Allied Defense Networks: Almonty Industries Inc. recently announced a binding offtake agreement with Tungsten Parts Wyoming, Inc. (TPW), a prominent U.S.-based defense contractor, and Metal Tech (MT), an Israel-based tungsten processor, significantly enhancing its strategic position within the critical materials supply chain for U.S. defense applications. Under the agreement, TPW commits to purchasing at least 40 metric tons of tungsten oxide monthly from Almonty, exclusively for use in critical defense applications, including missiles, drones, and ordnance systems. MT will process the supplied tungsten oxide into tungsten metal powder in Israel or the U.S., exclusively for TPW’s defense production programs. Notably, the arrangement includes a hard floor price with no ceiling, providing revenue predictability and substantial upside potential. The initial term of the agreement spans three years from the commencement of deliveries, with provisions for automatic annual renewal thereafter. This offtake agreement is strategically significant for Almonty, ensuring predictable revenues and deepening its integration into defense-oriented supply chains. Management has highlighted the importance of securing long-term demand specifically tied to high-value defense programs, emphasizing the company’s ability to align commercial interests with strategic national security priorities. It should be that that these substantial offtake commitments signal strong confidence in Almonty’s asset quality and operational delivery capabilities. Investors tend to place a premium on predictable revenues and consistent cash flows, making this agreement particularly valuable from a market valuation perspective. We view this development positively, as it further solidifies Almonty’s competitive advantage in supplying critical materials to allied defense markets.
- Q1 2025 Financial Results Reflect Stable Revenue, Enhanced Mining Margins, and Elevated Non-Cash Charges: In the first quarter of 2025, Almonty Industries reported a 1.3% year-over-year revenue increase to $7.9 million, driven by higher tungsten concentrate pricing under long-term contracts. Income from mining operations rose significantly by 24.1% to $0.75 million, supported by favorable pricing dynamics and increased output at the Panasqueira mine. Operating expenses rose substantially to $9.5 million from $4.3 million in the prior year quarter, largely due to higher non-cash share-based compensation, losses related to the revaluation of embedded derivative liabilities, and increased expenditures associated with the company’s planned redomiciling. The company reported a net loss of $34.6 million, compared to $3.8 million in the prior-year period, primarily due to a non-cash loss of $25.8 million arising from the revaluation of warrant liabilities. Adjusted EBITDA came in at $(3.5) million compared to $(1.3) million in the same quarter of the previous year, reflecting a 169.2% increase on a non-IFRS basis. As of March 31, 2025, cash and cash equivalents totaled $16.9 million, up from $7.8 million at year-end 2024, primarily due to the receipt of $8.7 in equity placement proceeds and $3.3 million from the exercise of warrant, partially offset by ongoing investments in the Sangdong Project in South Korea. Post the quarter-end, Almonty secured an additional $3.6 million through further warrant exercises.
- Valuation: The forthcoming commercialization of the high-grade Sangdong project, now construction-complete and in its final pre-production phase, is anticipated to serve as a key catalyst for Almonty’s growth trajectory and potential valuation re-rating. Strong operational performance at Panasqueira and a robust cash position of nearly $17 million provide a solid foundation for near-term execution. Strategic advancements, including a binding offtake agreement with a U.S. defense contractor and expanded partnerships with American Defense International and MZ Group, further reinforce Almonty’s position as a critical supplier within the allied tungsten value chain. Rolling over our financial model while incorporating the latest quarterly results and updated shares outstanding, we arrive at a valuation of $4.00 per share, contingent upon successful execution by the company.
About Almonty Industries, Inc.

Almonty Industries Inc. is a global leader in tungsten mining, with strategically positioned assets in geopolitically stable regions including South Korea, Portugal, and Spain. The company is set to become the largest tungsten producer outside China upon the commissioning of its flagship Sangdong Mine.

About Diamond Equity Research

Diamond Equity Research is a leading equity research and corporate access firm focused on small capitalization companies. Diamond Equity Research is an approved sell-side provider on major institutional investor platforms.

For more information, visit https://www.diamondequityresearch.com.

Disclosures:

Diamond Equity Research LLC is being compensated by Almonty Industries, Inc. for producing research materials regarding Almonty Industries, Inc. and its securities, which is meant to subsidize the high cost of creating the report and monitoring the security, however the views in the report reflect that of Diamond Equity Research. All payments are received upfront and are billed for research engagement. As of 05/22/25 the issuer had paid us $50,000 for our company sponsored research services, which commenced 03/07/2025 and is billed annually. Diamond Equity Research LLC may be compensated for non-research related services, including presenting at Diamond Equity Research investment conferences, press releases and other additional services. The non-research related service cost is dependent on the company, but usually do not exceed $5,000. The issuer has not paid us for non-research related services as of 05/22/2025. Issuers are not required to engage us for these additional services. Additional fees may have accrued since then. Although Diamond Equity Research company sponsored reports are based on publicly available information and although no investment recommendations are made within our company sponsored research reports, given the small capitalization nature of the companies we cover we have adopted an internal trading procedure around the public companies by whom we are engaged, with investors able to find such policy on our website public disclosures page. This report and press release do not consider individual circumstances and does not take into consideration individual investor preferences. Statements within this report may constitute forward-looking statements, these statements involve many risk factors and general uncertainties around the business, industry, and macroeconomic environment. Investors need to be aware of the high degree of risk in small capitalization equities including the complete loss of their investment. Investors can find various risk factors in the initiation report and in the respective financial filings for Almonty Industries, Inc.

Contact:
Diamond Equity Research
research@diamondequityresearch.com

Attachment
- Almonty Industries Update Note May 2025
The MIL Network –
May 22, 2025
MIL-OSI: Lelantos Energy Unveils Strategic Initiatives for 2025

Source: GlobeNewswire (MIL-OSI)

TUCSON, Ariz., May 21, 2025 (GLOBE NEWSWIRE) — via IBN — Lelantos Energy, a wholly owned subsidiary of Lelantos Holdings, Inc. (OTC PINK: LNTO) (“Lelantos” or the “Company”), is pleased to announce its 2025 strategic initiatives focused on expanding access to renewable energy, working with underserved communities, and driving innovation in tax credit and renewable credit monetization.

Powering Progress: Commercial Solar Expansion

Lelantos Energy has solidified its partnership with NeRD Power to provide a comprehensive turnkey solution for commercial solar projects. From small businesses to utility-scale developments, the collaboration brings together expert engineering, financing, and installation capabilities. The partnership is exploring further integration to broaden its impact in the commercial solar sector.

Honoring Veterans: Free Solar 4 Veterans Program

In an initiative to support U.S. veterans, Lelantos Energy has launched the Free Solar 4 Veterans program in partnership with The Warrior Up Foundation and NeRD Power. This initiative will begin by providing free solar installations to disabled veterans and the widows of fallen soldiers, promoting energy independence and reducing financial burdens. A pilot project is already underway, and a media campaign is being planned to attract broader support and funding. More information can be found at freesolar4vets.org.

Empowering Communities: Government and Municipal Partnerships

Lelantos Energy is spearheading a Sustainable Community Network program with its strategic partner, SEDC Solar, for the Washington D.C. Housing Authority. This initiative will provide green energy systems at no cost to over 550 low-income households, supported by a coalition of finance partners and tax-credit incentives.

In addition, Lelantos is executing a Memorandum of Understanding to form a joint venture with a GSA-certified agency and NeRD Power to develop government-funded solar projects, marking a strategic move into the federal renewable energy space.

Driving Financial Innovation: Investment Tax Credit Monetization

As the exclusive sales partner of Coulomb Capital, Lelantos Energy is scaling its Investment Tax Credit (ITC) monetization efforts. With access to a robust network of high-net-worth and institutional buyers, Lelantos has already begun managing high-value ITC transactions. A multichannel marketing strategy is underway to deepen executive outreach and grow the sales pipeline.

First-Mover Advantage: Carbon and Renewable Energy Credit Platform

In collaboration with Carbontricity and Electryone Advisors, Lelantos Energy has been given access to a digital platform for the automated issuance and monetization of renewable energy and carbon credits. Compliant with global standards such as M-RETS and I-REC, the platform utilizes blockchain and NFT technology for secure, transparent transactions.

Holding exclusive rights to this platform in North America through Electryone Advisors, Lelantos is poised to become a first-mover in the next evolution of global carbon trading.

About Lelantos Holdings

Founded in the spirit of “Solution Hunting,” Lelantos Holdings’ innovative business structure is purpose-built to acquire or joint venture with established entities in strategic market sectors. With a focus on sustainable energy, Lelantos Holdings has a mission of being at the forefront of innovation in a dynamic industry, and the goal of operating as a vertically integrated entity to reduce overhead and increase service offerings. Their management team is dedicated to fostering innovation and advancing technological developments.

Lelantos Holdings website: www.Lelantosholdings.io

About Lelantos Energy

INNOVATIVE. STRATEGIC. SOLUTION ORIENTED.

Lelantos Energy offers a forward-thinking solution and a comprehensive approach to adapt to the dynamic landscape of commercial solar, residential solar, microgrid design, energy storage architecture, and EV supercharging. The company has strategically joined forces with experienced and leading industry professionals as well as dedicated lending resources to create a model that will seek to manage project risks, pursue favorable returns (though no guarantees can be made) and support the Company’s efforts to enhance the deployment of renewable energy projects.

Lelantos Energy website: www.LNTO.Energy

About the Free Solar 4 Vets Program

POWERING UP THE LIVES OF OUR VETERANS

Dedicated to honoring the sacrifices of our nation’s heroes, the mission of our program is to help veterans secure energy independence and a renewed sense of purpose through programs that empower them economically and socially. Powered by a joint venture among Lelantos Energy, a veteran’s foundation, and a large-scale solar installer, the program aims to utilize donations and a tax equity fund to provide free solar systems for veterans and widows of fallen soldiers.

Free Solar 4 Vets Program website: https://www.freesolar4vets.org/

FORWARD-LOOKING INFORMATION

Certain information set forth in this press release contains “forward-looking information,” including “future-oriented financial information” and “financial outlook,” within the meaning of applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vii) renewal of the Company’s current customer, supplier and other material agreements; and (viii) future liquidity, working capital and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect to the future so they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The United States Securities and Exchange Commission (“SEC”) has provided guidance to issuers regarding the use of social media to disclose material nonpublic information. In this regard, investors and others should note that we announce material financial information on our company website, www.LelantosHoldings.io, in addition to SEC filings, press releases, public conference calls and webcasts. We also use social media to communicate with the public about our company, our services and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, in light of the SEC’s guidance, we encourage investors, the media and others interested in our company to review the information we post on the Company website.

CONTACT INFORMATION

Lelantos Holdings, Inc.
info@Lelantos.Group

Wire Service Contact:
IBN
Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000 Office
Editor@InvestorBrandNetwork.com

The MIL Network –

May 22, 2025
MIL-OSI: GraniteShares launches new YieldBoost ETFs on NVIDIA (NVYY) and Bitcoin (XBTY)
Source: GlobeNewswire (MIL-OSI)

NEW YORK, May 21, 2025 (GLOBE NEWSWIRE) — GraniteShares, an ETF issuer specializing in high conviction ETFs, announced that it is launching two ETFs to add to its existing YieldBOOST lineup – the GraniteShares YieldBOOST NVDA ETF (NVYY) and the GraniteShares YieldBOOST Bitcoin ETF (XBTY).

The GraniteShares YieldBOOST NVDA ETF (NVYY) is designed to generate income from options¹ strategies linked to 2x Long NVDA Daily ETF. To generate income, NVYY sells put options² on leveraged ETFs linked to 2x Long NVDA Daily ETF.

The GraniteShares YieldBOOST Bitcoin ETF (XBTY) is designed to generate income from options¹ strategies linked to 2x Long Bitcoin Daily ETF. To generate income, XBTY sells put options² on leveraged ETFs linked to 2x Long Bitcoin Daily ETF.

FUND NAME TICKER CUSIP

GraniteShares YieldBOOST NVDA ETF NVYY 38747R637

GraniteShares YieldBOOST Bitcoin ETF XBTY 38747R421

“We are excited to launch the newest additions to our YieldBOOST options income suite,” said Will Rhind, Founder and CEO of GraniteShares. “The GraniteShares YieldBOOST NVDA ETF (NVYY) and the GraniteShares YieldBOOST Bitcoin ETF (XBTY) will seek to generate income from selling put options on their respective underlying leveraged ETFs.”

Other existing YieldBOOST ETFs include the GraniteShares YieldBOOST SPY ETF (YSPY), the GraniteShares YieldBOOST QQQ ETF (TQQY) and the GraniteShares YieldBOOST TSLA ETF (TSYY).

For more information, please visit: www.graniteshares.com.

About GraniteShares:

GraniteShares is an entrepreneurial ETF provider focused on high-conviction investment solutions. The firm offers a range of 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.

Source: GraniteShares

¹An option is a contract that gives the holder the right, but not the obligation to buy or sell a specific asset at a predetermined price on or before a specified date. Options are a type of derivative, meaning their value is derived from the underlying asset.

²A put option is a contract that gives the buyer the right, but not the obligation, to sell an underlying asset at a specified price by or on a specific date.

RISK FACTORS & IMPORTANT INFORMATION

Please see the funds’ prospectus for more details – https://graniteshares.com/media/u5odudej/graniteshares-etf-trust-prospectus-yb.pdf.

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please call (844) 476 8747 or visit www.graniteshares.com. Read the prospectus or summary prospectus carefully before investing.

The investment program of the Funds is speculative, entails substantial risks and include asset classes and investment techniques not employed by more traditional mutual funds.

PRINCIPAL RISKS OF INVESTING IN THE FUND

The principal risks of investing in the Fund are summarized below. As with any investment, there is a risk that you could lose all or a portion of your investment in the Fund. Each risk summarized below is considered a “principal risk” of investing in the Fund, regardless of the order in which it appears. Some or all of these risks may adversely affect the Fund’s net asset value per share (“NAV”), trading price, yield, total return and/or ability to meet its investment objectives. For more information about the risks of investing in the Fund, see the section in the Fund’s Prospectus titled “Additional Information About the Fund — Principal Risks of Investing in the Fund.”

The Underlying NVDA ETF Risk. The Fund invests in options contracts that are based on the value of the Underlying NVDA ETF shares. This subjects the Fund to certain of the same risks as if it owned shares of the Underlying NVDA ETF, even though it may not. By virtue of the Fund’s investments in options contracts that are based on the value of the Underlying NVDA ETF shares, the Fund may also be subject to the following risks:

Effects of Compounding and Market Volatility Risk. The Underlying NVDA ETF shares’ performance for periods greater than a trading day will be the result of each day’s returns compounded over the period, which is likely to differ from 200% of the Underlying Stock’s performance, before fees and expenses. Compounding has a significant impact on funds that are leveraged and that rebalance daily. The impact of compounding becomes more pronounced as volatility and holding periods increase and will impact each shareholder differently depending on the period of time an investment in the Underlying NVDA ETF is held and the volatility of the Underlying Stock during the shareholder’s holding period of an investment in the Underlying NVDA ETF.

Leverage Risk. The Underlying NVDA ETF obtains investment exposure in excess of its net assets by utilizing leverage and may lose more money in market conditions that are adverse to its investment objective than a fund that does not utilize leverage. An investment in the Underlying NVDA ETF is exposed to the risk that a decline in the daily performance of the Underlying Stock will be magnified. This means that an investment in the Underlying NVDA ETF will be reduced by an amount equal to 2% for every 1% daily decline in the Underlying Stock, not including the costs of financing leverage and other operating expenses, which would further reduce its value. The Underlying NVDA ETF could lose an amount greater than its net assets in the event of an Underlying Stock decline of more than 50%.

Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. Investing in derivatives may be considered aggressive and may expose the Underlying NVDA ETF to greater risks, and may result in larger losses or smaller gains, than investing directly in the reference assets underlying those derivatives, which may prevent the Underlying NVDA ETF from achieving its investment objective.

Counterparty Risk. If a counterparty is unwilling or unable to make timely payments to meet its contractual obligations or fails to return holdings that are subject to the agreement with the counterparty resulting in the Underlying NVDA ETF losing money or not being able to meet its daily leveraged investment objective.

Industry Concentration Risk. The performance of the Underlying Stock, and consequently the Underlying NVDA ETF’s performance, is subject to the risks of the semiconductor industry. The Underlying Stock is subject to many risks that can negatively impact its revenue and viability including, but are not limited to price volatility risk, management risk, inflation risk, global economic risk, growth risk, supply and demand risk, operations risk, regulatory risk, environmental risk, terrorism risk and the risk of natural disasters. The Underlying Stock performance may be affected by NVIDIA Corporation’s ability to identify new products, technologies or services, global competition and business conditions, its dependence on third-party product manufacturers, product defect issues, cybersecurity breaches, and customer concentration. The Underlying Stock may also be affected by risks that affect the broader technology industry, including: government regulation; dramatic and often unpredictable changes in growth rates and competition for qualified personnel; heavy dependence on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability; and a small number of companies representing a large portion of the technology sector as a whole. The Fund’s daily returns may be affected by many factors but will depend on the performance and volatility of the Underlying Stock.

Indirect Investments in the Underlying NVDA ETF. Investors in the Fund will not have rights to receive dividends or other distributions or any other rights with respect to the Underlying NVDA ETF but will be subject to declines in the performance of the Underlying NVDA ETF. Although the Fund invests in the Underlying NVDA ETF only indirectly, the Fund’s investments are subject to loss as a result of these risks.

Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds, interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with ordinary portfolio securities transactions. The use of derivatives may result in larger losses or smaller gains than directly investing in securities. When the Fund uses derivatives, there may be an imperfect correlation between the value of the Underlying NVDA ETF and the derivative, which may prevent the Fund from achieving its investment objectives. Because derivatives often require only a limited initial investment, the use of derivatives may expose the Fund to losses in excess of those amounts initially invested. In addition, the Fund’s investments in derivatives are subject to the following risks:
- Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events. For the Fund, in particular, the value of the options contracts in which it invests is substantially influenced by the value of the Underlying NVDA ETF. Selling put options exposes the Fund to the risk of potential loss if the market value of the Underlying NVDA ETF falls below the strike price before the option expires. The Fund may experience substantial downside from specific option positions and certain option positions held by the Fund may expire worthless. As an option approaches its expiration date, its value typically increasingly moves with the value of the underlying instrument. However, prior to such date, the value of an option generally does not increase or decrease at the same rate at the underlying instrument. There may at times be an imperfect correlation between the movement in values of options contracts and the underlying instrument, and there may at times not be a liquid secondary market for certain options contracts. The value of the options held by the Fund will be determined based on market quotations or other recognized pricing methods. Additionally, the Fund’s practice of “rolling” may cause the Fund to experience losses if the expiring contracts do not generate proceeds enough to cover the costs of entering into new options contracts. Rolling refers to the practice of closing out one options position and opening another with a different expiration date and/or a different strike price. Further, if an option is exercised, the seller (writer) of a put option is obligated to purchase the underlying asset at the strike price, which can result in significant financial and regulatory obligations for the Fund if the market value of the asset has fallen substantially. Furthermore, when the Fund seeks to trade out of puts, especially near expiration, there is an added risk that the Fund may be required to allocate resources unexpectedly to fulfill these obligations. This potential exposure to physical settlement can significantly impact the Fund’s liquidity and market exposure, particularly in volatile market conditions.
- Swap Risk: Swaps are subject to tracking risk because they may not be perfect substitutes for the instruments they are intended to hedge or replace. Over the counter swaps are subject to counterparty default. Leverage inherent in derivatives will tend to magnify the Fund’s losses. The swap agreements may reference standardized exchange-traded, FLEX, European Style or American Style put options contracts that are based on the values of the price returns of the Underlying ETF. that generate specific risks.
Affiliated Fund Risk. In managing the Fund, the Adviser has the ability to select the Underlying NVDA ETF and substitute the Underlying NVDA ETF with other ETFs that it believes will achieve the Fund’s objective. The Adviser may be subject to potential conflicts of interest in selecting the Underlying NVDA ETF and substituting the Underlying NVDA ETF with other ETFs because the fees paid to the Adviser by some Underlying NVDA ETF may be higher than the fees charged by other Underlying NVDA ETF.

Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members. In cleared derivatives positions, the Fund will make payments (including margin payments) to and receive payments from a clearing house through their accounts at clearing members. Customer funds held at a clearing organization in connection with any options contracts are held in a commingled omnibus account and are not identified to the name of the clearing member’s individual customers. As a result, assets deposited by the Fund with any clearing member as margin for options may, in certain circumstances, be used to satisfy losses of other clients of the Fund’s clearing member. In addition, although clearing members guarantee performance of their clients’ obligations to the clearing house, there is a risk that the assets of the Fund might not be fully protected in the event of the clearing member’s bankruptcy, as the Fund would be limited to recovering only a pro rata share of all available funds segregated on behalf of the clearing member’s customers for the relevant account class. The Fund is also subject to the risk that a limited number of clearing members are willing to transact on the Fund’s behalf, which heightens the risks associated with a clearing member’s default. If a clearing member defaults the Fund could lose some or all of the benefits of a transaction entered into by the Fund with the clearing member. If the Fund cannot find a clearing member to transact with on the Fund’s behalf, the Fund may be unable to effectively implement its investment strategy. In addition, a counterparty (the other party to a transaction or an agreement or the party with whom the Fund executes transactions) to a transaction (including repurchase transaction) with the Fund may be unable or unwilling to make timely principal, interest or settlement payments, or otherwise honor its obligations.

Price Participation Risk. The Fund employs an investment strategy that includes the sale of in-the-money put options contracts, which limits the degree to which the Fund will participate in increases in value experienced by the Underlying NVDA ETF over the Call Period. This means that if the Underlying NVDA ETF experiences an increase in value above the strike price of the sold put options during a Call Period, the Fund will likely not experience that increase to the same extent and may significantly underperform the Underlying NVDA ETF over the Call Period. Additionally, because the Fund is limited in the degree to which it will participate in increases in value experienced by the Underlying NVDA ETF over each Call Period, but has full exposure to any decreases in value experienced by the Underlying NVDA ETF over the Call Period, the NAV of the Fund may decrease over any given time period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the performance of the Underlying NVDA ETF. The degree of participation in the Underlying NVDA ETF gains the Fund will experience will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put options contracts and will vary from Call Period to Call Period. The value of the options contracts is affected by changes in the value and dividend rates of the Underlying NVDA ETF, changes in interest rates, changes in the actual or perceived volatility of the Underlying NVDA ETF and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the price of the Underlying NVDA ETF share changes and time moves towards the expiration of each Call Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly correlate on a day-to-day basis with the returns of the Underlying NVDA ETF share price. The amount of time remaining until the options contract’s expiration date affects the impact of the potential options contract income on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the price of the Underlying NVDA ETF share will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than that experienced by the Underlying NVDA ETF share price.

Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current monthly income. There is no assurance that the Fund will make a distribution in any given month. If the Fund makes distributions, the amounts of such distributions will likely vary greatly from one distribution to the next. Additionally, the monthly distributions, if any, may consist of returns of capital, which would decrease the Fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment.

NAV Erosion Risk Due to Distributions. When the Fund makes a distribution, the Fund’s NAV will typically drop by the amount of the distribution on the related ex-dividend date. The repeated payment of distributions by the Fund, if any, may significantly erode the Fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment.

Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing strategy will impact the extent that the Fund participates in the positive price returns of the Underlying NVDA ETF and, in turn, the Fund’s returns, both during the term of the sold put options and over longer time periods. 187 If, for example, the Fund were to sell 10% in-the-money put options having a one-month term, the Fund’s participation in the positive price returns of the Underlying NVDA ETF will be capped at 10% for that month. However, over a longer period (e.g., a three-month period), the Fund should not be expected to participate fully in the first 30% (i.e., 3 months x 10%) of the positive price returns of the Underlying NVDA ETF, or the Fund may even lose money, even if the Underlying NVDA ETF share price has appreciated by at least that much over such period, if during any particular month or months over that period the Underlying NVDA ETF had a return less than 10%. This example illustrates that both the Fund’s participation in the positive price returns of the Underlying NVDA ETF and its returns will depend not only on the price of the Underlying NVDA ETF but also on the path that the Underlying NVDA ETF takes over time.

If, for example, the Fund were to sell 5% out-of-the-money put options having a one-week term, the Fund’s downward protection against the negative price returns of the Underlying NVDA ETF will be capped at 5% for that week. However, over a longer period (e.g., a four-week period), the Fund should not be expected to be protected fully in the first 25% (i.e., 4 weeks x 5%) of the negative price returns of the Underlying NVDA ETF, and the Fund may lose money, even if the Underlying NVDA ETF share price has appreciated over such period, if during any particular week or weeks over that period the Underlying NVDA ETF share price had decreases by more than 5%. This example illustrates that both the Fund’s protection against the negative price returns of the Underlying NVDA ETF and its returns will depend not only on the price of the Underlying NVDA ETF but also on the path that the Underlying NVDA ETF takes over time.

Under both cases the Fund may be fully exposed to the downward movements of the Underlying NVDA ETF, offset only by the premiums received from selling put contracts. The Fund does not seek to offer any downside protection, except for the fact that the premiums from the sold options may offset some or all of the Underlying NVDA ETF’s decline.

Option Market Liquidity Risk. The trading activity in the option market of the Underlying NVDA ETF may be limited and the option contracts may trade at levels significantly different from their economic value. The lack of liquidity may negatively affect the ability of the Fund to achieve its investment objective. This risk may increase if the portfolio turnover is elevated, for instance because of frequent changes in the number of Shares outstanding, and if the net asset value of the Underlying NVDA ETF is modest. For the 12-month period ending September 30, 2024, the net asset value of the Underlying NVDA ETF ranged from $0.6m to $5,986m.

Concentration Risk. To the extent that the Underlying NVDA ETF concentrates its investments in a particular industry, the Fund will be subject to the risks associated with that industry.

ETF Risks.

Authorized Participants, Market Makers, and Liquidity Providers Concentration Risk. The Fund has a limited number of financial institutions that are authorized to purchase and redeem Shares directly from the Fund (known as “Authorized Participants” or “APs”). In addition, there may be a limited number of market makers and/or liquidity providers in the marketplace. To the extent either of the following events occur, Shares may trade at a material discount to NAV and possibly face delisting: (i) APs exit the business or otherwise become unable to process creation and/or redemption orders and no other APs step forward to perform these services; or (ii) market makers and/or liquidity providers exit the business or significantly reduce their business activities and no other entities step forward to perform their functions.

Cash Redemption Risk. The Fund currently expects to affect a significant portion of its creations and redemptions for cash, rather than in-kind securities. Paying redemption proceeds in cash rather than through in-kind delivery of portfolio securities may require the Fund to dispose of or sell portfolio securities or other assets at an inopportune time to obtain the cash needed to meet redemption orders. This may cause the Fund to sell a security and recognize a capital gain or loss that might not have been incurred if it had made a redemption in-kind. As a result, the Fund may pay out higher or lower annual capital gains distributions than ETFs that redeem in-kind. The use of cash creations and redemptions may also cause the Fund’s Shares to trade in the market at greater bid-ask spreads or greater premiums or discounts to the Fund’s NAV. Furthermore, the Fund may not be able to execute cash transactions for creation and redemption purposes at the same price used to determine the Fund’s NAV. To the extent that the maximum additional charge for creation or redemption transactions is insufficient to cover the execution shortfall, the Fund’s performance could be negatively impacted.

Costs of Buying or Selling Shares. Due to the costs of buying or selling Shares, including brokerage commissions imposed by brokers and bid-ask spreads, frequent trading of Shares may significantly reduce investment results and an investment in Shares may not be advisable for investors who anticipate regularly making small investments.

Shares May Trade at Prices Other Than NAV. As with all ETFs, Shares may be bought and sold in the secondary market at market prices. Although it is expected that the market price of Shares will approximate the Fund’s NAV, there may be times when the market price of Shares is more than the NAV intra-day (premium) or less than the NAV intra-day (discount) due to supply and demand of Shares or during periods of market volatility. This risk is heightened in times of market volatility, periods of steep market declines, and periods when there is limited trading activity for Shares in the secondary market, in which case such premiums or discounts may be significant.

Trading. Although Shares are listed on a national securities exchange, such as The Nasdaq Stock Market, LLC (the “Exchange”), and may be traded on U.S. exchanges other than the Exchange, there can be no assurance that an active trading market for the Shares will develop or be maintained or that the Shares will trade with any volume, or at all, on any stock exchange. This risk may be greater for the Fund as it seeks to have exposure to a single underlying stock as opposed to a more diverse portfolio like a traditional pooled investment. In stressed market conditions, the liquidity of Shares may begin to mirror the liquidity of the Fund’s underlying portfolio holdings, which can be significantly less liquid than Shares. Shares trade on the Exchange at a market price that may be below, at or above the Fund’s NAV. Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange, make trading in Shares inadvisable. In addition, trading in Shares on the Exchange is subject to trading halts caused by extraordinary market volatility pursuant to the Exchange “circuit breaker” rules. There can be no assurance that the requirements of the Exchange necessary to maintain the listing of the Fund will continue to be met or will remain unchanged. In the event of an unscheduled market close for options contracts that reference a single stock, such as the Underlying NVDA ETF’s securities being halted or a market wide closure, settlement prices will be determined by the procedures of the listing exchange of the options contracts. As a result, the Fund could be adversely affected and be unable to implement its investment strategies in the event of an unscheduled closing.

High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses. Frequent trading may also cause adverse tax consequences for investors in the Fund due to an increase in short-term capital gains.

Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil. This risk is greater for the Fund as it will hold options contracts on a single security, and not a broader range of options contracts. Markets for securities or financial instruments could be disrupted by a number of events, including, but not limited to, an economic crisis, natural disasters, epidemics/pandemics, new legislation or regulatory changes inside or outside the United States. Illiquid securities may be difficult to value, especially in changing or volatile markets. If the Fund is forced to sell an illiquid security at an unfavorable time or price, the Fund may be adversely impacted. Certain market conditions or restrictions, such as market rules related to short sales, may prevent the Fund from limiting losses, realizing gains or achieving a high correlation with the Underlying NVDA ETF. There is no assurance that a security that is deemed liquid when purchased will continue to be liquid. Market illiquidity may cause losses for the Fund.

Management Risk. The Fund is subject to management risk because it is an actively managed portfolio. In managing the Fund’s investment portfolio, the portfolio managers will apply investment techniques and risk analyses that may not produce the desired result. There can be no guarantee that the Fund will meet its investment objective.

Money Market Instrument Risk. The Fund may use a variety of money market instruments for cash management purposes, including money market funds, depositary accounts and repurchase agreements. Repurchase agreements are contracts in which a seller of securities agrees to buy the securities back at a specified time and price. Repurchase agreements may be subject to market and credit risk related to the collateral securing the repurchase agreement. Money market instruments, including money market funds, may lose money through fees or other means.

New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. As a result, a decline in the value of an investment in a single issuer or a smaller number of issuers could cause the Fund’s overall value to decline to a greater degree than if the Fund held a more diversified portfolio.

Operational Risk. The Fund is subject to risks arising from various operational factors, including, but not limited to, human error, processing and communication errors, errors of the Fund’s service providers, counterparties or other third-parties, failed or inadequate processes and technology or systems failures. The Fund relies on third-parties for a range of services, including custody. Any delay or failure relating to engaging or maintaining such service providers may affect the Fund’s ability to meet its investment objective. Although the Fund, Adviser, and Sub-Adviser seek to reduce these operational risks through controls and procedures, there is no way to completely protect against such risks.

Recent Market Events Risk. U.S. and international markets have experienced significant periods of volatility in recent years and months due to a number of economic, political and global macro factors including the impact of COVID-19 as a global pandemic, which has resulted in a public health crisis, disruptions to business operations and supply chains, stress on the global healthcare system, growth concerns in the U.S. and overseas, staffing shortages and the inability to meet consumer demand, and widespread concern and uncertainty. The global recovery from COVID-19 is proceeding at slower than expected rates due to the emergence of variant strains and may last for an extended period of time. Continuing uncertainties regarding interest rates, rising inflation, political events, rising government debt in the U.S. and trade tensions also contribute to market volatility. Conflict, loss of life and disaster connected to ongoing armed conflict between Ukraine and Russia in Europe and Israel and Hamas in the Middle East could have severe adverse effects on the region, including significant adverse effects on the regional or global economies and the markets for certain securities. The U.S. and the European Union have imposed sanctions on certain Russian individuals and companies, including certain financial institutions, and have limited certain exports and imports to and from Russia. The war has contributed to recent market volatility and may continue to do so.

Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment vehicle which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (the Underlying NVDA ETF), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

Tax Risk. The Fund intends to elect and to qualify each year to be treated as a RIC under Subchapter M of the Code. As a RIC, the Fund will not be subject to U.S. federal income tax on the portion of its net investment income and net capital gain that it distributes to Shareholders, provided that it satisfies certain requirements of the Code. If the Fund does not qualify as a RIC for any taxable year and certain relief provisions are not available, the Fund’s taxable income will be subject to tax at the Fund level and to a further tax at the shareholder level when such income is distributed. To comply with the asset diversification test applicable to a RIC, the Fund will attempt to ensure that the value of the derivatives it holds is never 25% of the total value of Fund assets at the close of any quarter. If the Fund’s investments in the derivatives were to exceed 25% of the Fund’s total assets at the end of a tax quarter, the Fund, generally, has a grace period to cure such lack of compliance. If the Fund fails to timely cure, it may no longer be eligible to be treated as a RIC. In addition, distributions received by the Fund from the Underlying NVDA ETF may generate “bad income” that could prevent the Fund from meeting the “Income Requirement” of Subchapter M of the Code, which may cause the Fund to fail to qualify as a RIC.

Investing in U.S. Equities Risk. Investing in U.S. issuers subjects the Fund to legal, regulatory, political, currency, security, and economic risks that are specific to the U.S. Certain changes in the U.S., such as a weakening of the U.S. economy or a decline in its financial markets, may have an adverse effect on U.S. issuers.

U.S. Government and U.S. Agency Obligations Risk. The Fund may invest in securities issued by the U.S. government or its agencies or instrumentalities. U.S. Government obligations include securities issued or guaranteed as to principal and interest by the U.S. Government, its agencies or instrumentalities, such as the U.S. Treasury. Payment of principal and interest on U.S. Government obligations may be backed by the full faith and credit of the United States or may be backed solely by the issuing or guaranteeing agency or instrumentality itself. In the latter case, the investor must look principally to the agency or instrumentality issuing or guaranteeing the obligation for ultimate repayment, which agency or instrumentality may be privately owned. There can be no assurance that the U.S. Government would provide financial support to its agencies or instrumentalities (including government-sponsored enterprises) where it is not obligated to do so.

Fixed Income Securities Risk. The market value of Fixed Income Securities will change in response to interest rate changes and other factors, such as changes in the effective maturities and credit ratings of fixed income investments. During periods of falling interest rates, the values of outstanding Fixed Income Securities and related financial instruments generally rise. Conversely, during periods of rising interest rates, the values of such securities and related financial instruments generally decline. Fixed Income Securities are also subject to credit risk.

Investments in Fixed Income Securities may also involve the following risks, depending on the instrument involved:
- Asset-Backed/Mortgage-Backed Securities Risk – The market value and yield of asset-backed and mortgage-backed securities can vary due to market interest rate fluctuations and early prepayments of underlying instruments.
- Credit Risk – An investment in the Fund also involves the risk that the issuer of a Fixed Income Security that the Fund holds will fail to make timely payments of interest or principal or go bankrupt, or that the value of the securities will decline because of a market perception that the issuer may not make payments on time, thus potentially reducing the Fund’s return.
- Event Risk – Event risk is the risk that corporate issuers may undergo restructurings, such as mergers, leveraged buyouts, takeovers, or similar events financed by increased debt. As a result of the added debt, the credit quality and market value of a company’s bonds and/or other debt securities may decline significantly.
- Extension Risk – Payment on the loans underlying Fixed Income Securities held by the Fund may be made more slowly when interest rates are rising.
- Interest Rate Risk – Generally, the value of Fixed Income Securities will change inversely with changes in interest rates. As interest rates rise, the market value of Fixed Income Securities tends to decrease. Conversely, as interest rates fall, the market value of Fixed Income Securities tends to increase. This risk will be greater for long-term securities than for short-term securities. In recent periods, governmental financial regulators, including the U.S. Federal Reserve, have taken steps to maintain historically low interest rates. Very low or negative interest rates may magnify interest rate risk. Changes in government intervention may have adverse effects on investments, volatility, and illiquidity in debt markets.
- Prepayment Risk – When interest rates are declining, issuers of Fixed Income Securities held by the Fund may prepay principal earlier than scheduled.
The Fund is distributed by ALPS Distributors, Inc, which is not affiliated with GraniteShares or any of its affiliates ©2024 GraniteShares Inc. All rights reserved. GraniteShares, GraniteShares Trusts, and the GraniteShares logo are registered and unregistered trademarks of GraniteShares Inc., in the United States and elsewhere. All other marks are the property of their respective owners.

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

The MIL Network –
May 22, 2025
MIL-OSI: Bilibili Inc. Announces Proposed Offering of US$500 Million Convertible Senior Notes

Source: GlobeNewswire (MIL-OSI)

SHANGHAI, May 21, 2025 (GLOBE NEWSWIRE) — Bilibili Inc. (“Bilibili” or the “Company”) (Nasdaq: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced the proposed offering (the “Notes Offering”) of US$500 million in aggregate principal amount of convertible senior notes due 2030 (the “Notes”), subject to market conditions and other factors, only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company intends to grant the initial purchasers in the Notes Offering an option to purchase up to an additional US$75 million principal amount of the Notes, exercisable for settlement within a 30-day period beginning on, and including, the date on which the Notes are first issued.

The Company plans to use the net proceeds from the Notes Offering to enhance its content ecosystem to facilitate user growth, facilitate IP asset creation, and unleash its inherent potential. The Company also plans to use the net proceeds from the Notes Offering to improve its overall monetization efficiency, fund the Concurrent Repurchase (as defined below), fund future repurchases (from time to time) under its share repurchase program, and for other general corporate purposes.

When issued, the Notes will be senior, unsecured obligations of the Company. The Notes will mature on June 1, 2030, unless repurchased, redeemed or converted in accordance with their terms prior to such date. Holders may convert their Notes at their option at any time prior to the close of business on the seventh scheduled trading day immediately preceding the maturity date. Upon conversion, the Company will cause to be delivered the Company’s Class Z ordinary shares, par value US$0.0001 per share. Holders may elect to receive the Company’s American depositary shares (“ADS”), each representing one Class Z ordinary share, in lieu of Class Z ordinary shares deliverable upon conversion, subject to certain procedures and conditions set forth in the terms of the notes. The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of pricing of the Notes.

The Company may redeem for cash all or any part of the Notes on or after June 6, 2028 if the last reported sale price of the Class Z ordinary shares has been at least 130% of the conversion price for the Notes then in effect for at least 20 trading days, whether or not consecutive, during any 30 consecutive trading day period preceding the date on which the Company provides notice of redemption (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption (the “Optional Redemption”). In addition, the Company may redeem for cash all but not part of the Notes at any time if less than 10% of the aggregate principal amount of Notes originally issued remains outstanding at such time (the “Cleanup Redemption”). The Company may also redeem the Notes upon the occurrence of certain tax-related events (the “Tax Redemption”). Holders of the Notes may require the Company to repurchase for cash all or part of their Notes in cash on June 1, 2028, or in the event of certain fundamental changes. In connection with certain corporate events or if the Company issues a notice of Optional Redemption, Cleanup Redemption or Tax Redemption, it will, under certain circumstances, increase the conversion rate for holders who elect to convert their Notes in connection with such corporate event or such Optional Redemption, Cleanup Redemption or Tax Redemption.

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

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

The Company will use part of the proceeds from the Notes Offering for the Concurrent Repurchase. The Concurrent Repurchase enables investors to establish some of their initial short positions in the Class Z ordinary shares to hedge market risk in the Notes and reflects the Company’s confidence in its long-term strategy and growth. The repurchased shares will be cancelled. It is generally expected that the Concurrent Repurchase will help offset some of the potential dilution for the Company’s shareholders upon conversion of the Notes.

Other Matters

The Notes, the Class Z ordinary shares deliverable upon conversion of the Notes or the ADSs deliverable in lieu thereof, have not been registered under the Securities Act, or any state securities laws. They may not be offered or sold within the United States or to U.S. persons, except in reliance on the exemption from registration under the Securities Act.

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

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

Safe Harbor Statement

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

About Bilibili Inc.

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

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

For investor and media inquiries, please contact:

In China:

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

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

In the United States:

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

The MIL Network –

May 21, 2025

MIL-OSI United Kingdom: UK House Price Index for March 2025

Source: United Kingdom – Executive Government Non-Ministerial Departments

Press release

UK House Price Index for March 2025

The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland.

The March data shows:

on average, house prices have risen 1.1% since February 2025
there has been an annual price rise of 6.4% which makes the average property in the UK valued at £271,000

England

In England, the March Data shows on average, house prices rose by 1.3% since February 2025. The annual price rise of 6.7% takes the average property value to £296,000.

The North East experienced the most significant monthly increase with a movement of 4.2%
London saw the greatest monthly price fall, with a fall of -0.3%
The North East experienced the greatest annual price rise, up by 14.3%
London saw the lowest annual price growth, with a rise of 0.8%

The regional data for England indicates that:

Price change by region for England

Region	Average price March 2025	Annual change % since March 2024	Monthly change % since February 2025
East Midlands	£244,000	7.1	0.7
East of England	£344,000	6.5	1.4
London	£552,000	0.8	-0.3
North East	£168,000	14.3	4.2
North West	£217,000	9.4	2.5
South East	£386,000	5.3	0.7
South West	£311,000	5.3	0.7
West Midlands	£250,000	7.8	1.2
Yorkshire and the Humber	£211,000	9.5	2.0

Repossession sales by volume for England

The lowest number of repossession sales in January 2025 was in the South West.

The highest number of repossession sales in January 2025 was in the North East.

Repossession sales	January 2025
East Midlands	6
East of England	5
London	15
North East	20
North West	11
South East	12
South West	1
West Midlands	6
Yorkshire and the Humber	14
England	90

Average price by property type for England

Property type	March 2025	March 2024	Difference %
Detached	£471,000	£448,000	5
Semi-detached	£291,000	£268,000	8.5
Terraced	£247,000	£228,000	8.4
Flat/maisonette	£231,000	£222,000	3.9
All	£296,000	£277,000	6.7

Funding and buyer status for England

Transaction type	Average price March 2025	Annual price change % since March 2024	Monthly price change % since January 2025
Cash	£282,000	6	1.2
Mortgage	£301,000	7.1	1.3
First-time buyer	£250,000	7.7	1.9
Former owner occupier	£356,000	5.6	0.5

Building status for England

Building status*	Average price January 2025	Annual price change % since January 2024	Monthly price change % since December 2025
New build	£416,000	17.4	-1.1
Existing resold property	£285,000	3.6

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

London

London shows, on average, house prices decreased by 0.3% since Jan 2025. House prices have shown an annual price increase of 0.8% meaning the average price of a property is £552,000.

Average price by property type for London

Property type	March 2025	March 2024	Difference %
Detached	£1,097,000	£1,099,000	-0.3
Semi-detached	£694,000	£669,000	3.7
Terraced	£620,000	£606,000	2.2
Flat/maisonette	£444,000	£447,000	-0.7
All	£552,000	£547,000	0.8

Funding and buyer status for London

Transaction type	Average price March 2025	Annual price change % since March 2024	Monthly price change % since February 2025
Cash	£583,000	-2.1	-0.7
Mortgage	£546,000	1.7	-0.2
First-time buyer	£477,000	1.4	0.5
Former owner occupier	£677,000	-0.1	-1.6

Building status for London

Building status*	Average price January 2025	Annual price change % since January 2024	Monthly price change % since December 2024
New build	£564,000	11.9	-0.7
Existing resold property	£561,000	1.5	1.2

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

Wales

Wales shows, on average, house prices fell by 0.2% since February 2025. An annual price increase of 3.6% takes the average property value to £208,000

There were 3 repossession sales for Wales in January 2025.

Average price by property type for Wales

Property type	March 2025	March 2024	Difference %
Detached	£321,000	£318,000	0.9
Semi-detached	£208,000	£198,000	4.9
Terraced	£166,000	£158,000	4.9
Flat/maisonette	£133,000	£129,000	3.1
All	£208,000	£201,000	3.6

Funding and buyer status for Wales

Transaction type	Average price March 2025%	Annual price change % since March 2024	Monthly price change % since December 2024
Cash	£208,000	2.7	0.3
Mortgage	£208,000	4.1	0.2
First-time buyer	£180,000	4.6	0.6
Former owner occupier	£247,000	2.4	-0.3

Building status for Wales

Building status*	Average price January 2025	Annual price change % since January 2024	Monthly price change % since December 2024
New build	£355,000	19.9	-0.5
Existing resold property	£206,000	4.9	0.9

*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.

UK house prices

UK house prices rose by 6.4% in the year to March 2025, up from the revised estimate of 5.5% in the 12 months to Feb 2025. On a non-seasonally adjusted basis, average house prices in the UK increased by 1.1% between February 2025 and March 2025, compared with a increase 0.2% from the same period 12 months ago (February 24 and March 2024).

The UK Property Transactions Statistics showed that in March 2025, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 177,000. This is 104.3% higher than a year ago (March 2025). Between February 2025 and March 25, UK transactions increased by 61.7% on a seasonally adjusted basis.

House price monthly increase was highest in The North East where prices increased by 4.2% in the year to March 2025. The highest annual growth was in the The North East, where prices increased by 14.3% in the year to March 2025.

See the economic statement.

The UK HPI is based on completed housing transactions. Typically, a house purchase can take 6 to 8 weeks to reach completion. As with other indicators in the housing market, which typically fluctuate from month to month, it is important not to put too much weight on one month’s set of house price data.

Access the full UK HPI

Background

We publish the UK House Price Index (HPI) on the second or third Wednesday of each month with Northern Ireland figures updated quarterly. We will publish the April 2025 UK HPI at 9:30am on Wednesday 18 June 2025. See calendar of release dates.
We have made some changes to improve the accuracy of the UK HPI. We are not publishing average price and percentage change for new builds and existing resold property as done previously because there are not currently enough new build transactions to provide a reliable result. This means that in this month’s UK HPI reports, new builds and existing resold property are reported in line with the sales volumes currently available.
The UK HPI revision period has been extended to 13 months, following a review of the revision policy (see calculating the UK HPI section 4.4). This ensures the data used is more comprehensive.
Sales volume data is available by property status (new build and existing property) and funding status (cash and mortgage) in our downloadable data tables. Transactions that require us to create a new register, such as new builds, are more complex and require more time to process. Read revisions to the UK HPI data.
Revision tables are available for England and Wales within the downloadable data in CSV format. See about the UK HPI for more information.
HM Land Registry, Registers of Scotland, Land & Property Services/Northern Ireland Statistics and Research Agency and the Valuation Office Agency supply data for the UK HPI.
The Office for National Statistics (ONS) and Land & Property Services/Northern Ireland Statistics and Research Agency calculate the UK HPI. It applies a hedonic regression model that uses the various sources of data on property price, including HM Land Registry’s Price Paid Dataset, and attributes to produce estimates of the change in house prices each month. Find out more about the methodology used from the ONS and Northern Ireland Statistics & Research Agency.
We take the UK Property Transaction statistics from the HM Revenue and Customs (HMRC) monthly estimates of the number of residential and non-residential property transactions in the UK and its constituent countries. The number of property transactions in the UK is highly seasonal, with more activity in the summer months and less in the winter. This regular annual pattern can sometimes mask the underlying movements and trends in the data series. HMRC presents the UK aggregate transaction figures on a seasonally adjusted basis. We make adjustments for both the time of year and the construction of the calendar, including corrections for the position of Easter and the number of trading days in a particular month.
UK HPI seasonally adjusted series are calculated at regional and national levels only. See data tables.
The first estimate for new build average price (April 2016 report) was based on a small sample which can cause volatility. A three-month moving average has been applied to the latest estimate to remove some of this volatility.
The UK HPI reflects the final transaction price for sales of residential property. Using the geometric mean, it covers purchases at market value for owner-occupation and buy-to-let, excluding those purchases not at market value (such as re-mortgages), where the ‘price’ represents a valuation.
HM Land Registry provides information on residential property transactions for England and Wales, collected as part of the official registration process for properties that are sold for full market value.
The HM Land Registry dataset contains the sale price of the property, the date when the sale was completed, full address details, the type of property (detached, semi-detached, terraced or flat), if it is a newly built property or an established residential building and a variable to indicate if the property has been purchased as a financed transaction (using a mortgage) or as a non-financed transaction (cash purchase).
Repossession sales data is based on the number of transactions lodged with HM Land Registry by lenders exercising their power of sale.
For England, we show repossession sales volume recorded by government office region. For Wales, we provide repossession sales volume for the number of repossession sales.
Repossession sales data is available from April 2016 in CSV format. Find out more information about repossession sales.
We publish CSV files of the raw and cleansed aggregated data every month for England, Scotland and Wales. We publish Northern Ireland data on a quarterly basis. They are available for free use and re-use under the Open Government Licence.
HM Land Registry is a government department created in 1862. Its vision is: “A world-leading property market as part of a thriving economy and a sustainable future.”
HM Land Registry’s purpose is: “We protect your land ownership and provide services and data that underpin an efficient and informed property market.”
HM Land Registry safeguards land and property ownership valued at £8 trillion, enabling over £1 trillion worth of personal and commercial lending to be secured against property across England and Wales. The Land Register contains more than 26.5 million titles showing evidence of ownership for more than 89% of the land mass of England and Wales.
For further information about HM Land Registry visit www.gov.uk/land-registry.
Follow us on @HMLandRegistry, our blog, LinkedIn and Facebook

Contact

Press Office

Trafalgar House
1 Bedford Park
Croydon
CR0 2AQ

Email HMLRPressOffice@landregistry.gov.uk

Phone (Monday to Friday 8:30am to 5:30pm) 0300 006 3365

Mobile (5:30pm to 8:30am weekdays, all weekend and public holidays) 07864 689 344

Published 21 May 2025

MIL OSI United Kingdom –

May 21, 2025

MIL-OSI New Zealand: Government decision to abandon proposed Digital Services Tax disappointing – Better Taxes

Source: Better Taxes for a Better Future

The decision by the Government to abandon the proposed Digital Services Tax has been described as very disappointing by the Better Taxes for a Better Future campaign, raising questions about how the Government intends to fill the revenue gap left by this move. It also raises questions about how the Government will ensure digital services companies are paying a fair rate of tax on their earnings in New Zealand.

The Digital Services Tax Bill, which was introduced by the previous Labour Government has been sitting on Parliament’s order paper since August 2023. It would have instituted a 3% tax on digital services revenue earned from New Zealand customers by large digital services companies. Treasury had already included the revenue from the proposed tax in its latest forecasts and estimated it would contribute $479m between 2027 and 2029.

“We need to know how the Government intends to plug the $479m revenue gap left by their decision to drop the Digital Services Tax, at a time when our public services, particularly health, are in crisis because of underfunding,” says Glenn Barclay spokesperson for the Better Taxes campaign.

“The digital economy has proven very difficult to tax and the absence of a digital services tax has allowed multi-national tech companies to avoid paying their fair share of tax in Aotearoa New Zealand.”

“Around 18 countries already operate digital services taxes, and while the American administration doesn’t like them, we are not aware of any countries repealing these laws in response to threats from the Trump administration,” says Glenn Barclay.

“Instead of giving in to such threats,the Government should have proceeded with the Bill, or at the very least left it on the Parliamentary Order Paper until it could be implemented or an alternative developed.”

“If the Government is stepping away from the Bill then we need to know how it intends to progress the taxation of multi-national tech companies in this country, to ensure that these companies contribute to this country, rather than just exploiting their privileged position.” says Glenn Barclay.

“We don’t share the Minister’s optimism about an enforceable agreement on minimum corporate tax rates at the OECD in the medium term in the face of opposition from the Trump Administration. New Zealand needs another solution.”

“In addition it leaves another big question mark over how the Government will ensure advertising-dependent news local media will survive when their news and advertising is being taken by the social media giants who don’t pay a fair rate of tax,” says Glenn Barclay.

ENDS

Media spokesperson: Glenn Barclay – 027 295 5110

The Better Taxes for a Better Future Campaign is a coalition of over 20 organisations led by Tax Justice Aotearoa.

We believe that tax reform is the only solution to the current challenges facing Aotearoa NZ. We need the tax system to:

be transparent
raise more revenue to enable us address the challenges we face
make sure people who have more to contribute make that contribution: that we gather more revenue from wealth, gains from wealth, all forms of income, and corporates
make greater use of fair taxes to promote good health and environmental health
address the tax impact on the least well off in our society.

MIL OSI New Zealand News –

May 21, 2025
MIL-OSI: IDEX Biometrics ASA: First quarter 2025 report
Source: GlobeNewswire (MIL-OSI)

IDEX Biometrics ASA’s first quarter 2025 report is attached to this notice.

Recent highlights:

On 11 March 2025 IDEX Biometrics announced a new strategy with a fundamental shift in how the company would take its unique technology and products to market

New CEO appointed – Anders Storbråten

Securing a new debt facility of NOK 30 million, converted to shares

Heights convertible bond renegotiated and amended

Range of operational improvement initiatives under way – target quarterly run rate OPEX from end Q3 2025 in the range of $1.5-1.7 million.

Production order in Japan from the manufacturing partner Beautiful Card Corporation (BCC). The order has a value of approx. USD 50,000

Order received from DigAware to deliver biometric sensor solution for access cards with sensor systems from IDEX

IDEX Biometrics receives IDEX Pay order for VISA biometric cards in the Middle East & Africa region of 10,000 units

KONA I granted Mastercard Letter of Approval for IDEX Pay biometric cards

Completed debt conversion, launching subsequent offering allowing investors to participate at the same terms as shareholders participating in the debt conversion

Financial results Q1 2025:

Revenues of $0.1 million in the quarter.

Ordinary operating expenses amounting to $2.4 million.

Net loss was $4.1 million.

Cash balance per 31 March 2025 at $1.1 million

IDEX Biometrics CEO Anders Storbråten will host a presentation at Arctic Securities at 12:00 CET today. The presentation will be published to the stock exchange.

IDEX Biometrics’ reports and presentations are available on our website: www.idexbiometrics.com/investors

For further information, please contact:

Kristian Flaten, CFO, Tel: +47 95092322

E-mail: ir@idexbiometrics.com

About IDEX Biometrics:

IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market. For more information, visit www.idexbiometrics.com

About this notice:

This notice was issued by Kristian Flaten, CFO, on 21 May 2025 at 08:52 CET on behalf of IDEX Biometrics ASA. This information is subject to the disclosure requirements pursuant to the Norwegian Securities Trading Act section 5-12.

Attachment
- IDEX BIOMETRICS Q1 2025 REPORT
The MIL Network –
May 21, 2025

MIL-OSI: Wix Reports First Quarter 2025 Results

Source: GlobeNewswire (MIL-OSI)

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

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

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

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

Q1 2025 Financial Results

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

Increase to Share Repurchase Program

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

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

Financial Outlook

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

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

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

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

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

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

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

Conference Call and Webcast Information

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

About Wix.com Ltd.

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

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

Share Repurchase Program

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

Non-GAAP Financial Measures and Key Operating Metrics

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

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

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

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

Forward-Looking Statements

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


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

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

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

Gross Profit		321,859		282,479

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

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

Basic net income per share	$	0.61	$	0.43

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

Diluted net income per share	$	0.57	$	0.41

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Free Cash Flow	$	142,441		$	105,711

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



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

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

Y/Y growth		12	%

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

Y/Y growth		10	%

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

Y/Y growth		15	%



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

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



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

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



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

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



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

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

Non GAAP Gross margin		69	%		68	%

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

Non GAAP Gross margin – Creative Subscriptions		84	%		83	%

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

Non GAAP Gross margin – Business Solutions		31	%		30	%



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

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

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

Non GAAP operating margin		21	%		17	%



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

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


Basic Non GAAP net income per share	$	1.69		$	1.38

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

Diluted Non GAAP net income per share	$	1.55		$	1.29

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



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

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


Capex related to HQ build out		–			5,362

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

The MIL Network –

May 21, 2025

MIL-OSI: Prosafe SE: First-quarter results 2025
Source: GlobeNewswire (MIL-OSI)

(Figures in brackets refer to the corresponding period last year)

21 May 2025 – Prosafe SE reported EBITDA of USD 4.6 million (USD 7.2 million) for the first quarter of 2025. The company had four active vessels during the quarter.

Operations and HSSE
- Good operating performance
- Safe Zephyrus extended with Petrobras to Q3 2027
- Sale of Safe Concordia and Safe Scandinavia
- Safe Caledonia re-activated for UK contract with start 1 June
- Safe Boreas in transit to Singapore ahead of Australia contract
- Safe Notos declared winner of Brazil 4-year tender
Q1 financials
- Revenues of USD 33 million (USD 34 million) and EBITDA of USD 4.6 million (USD 7.2 million)
- Cash flow from operations of USD 28.4 million (negative USD 1.4 million) including contract prepayments for Safe Boreas and Safe Caledonia
- Capex of USD 21.2 million (USD 1.7 million) due to reactivation of Safe Boreas and Safe Caledonia
- Liquidity position of USD 54 million, compared to USD 46.8 million at year-end 2024
Recapitalisation
- Terms agreed for equitisation of USD 193 million of debt for 90% of the shares in the company
- Supported by lenders representing the USD 250 million and the USD 93 million loan facilities and approved by Prosafe shareholders at the extraordinary general meeting on 16 May
- Existing shareholders to retain 5% ownership with penny warrants for further 5% at EUR 0.01 per share
- Transaction provides a sustainable capital structure and sufficient liquidity to meet capital expenditure and working capital needs for the foreseeable future
- Estimated post recapitalization net debt of USD 220 million
- Expected completion in Q3 2025
Market and outlook
- Ongoing Petrobras tenders confirm strong market fundamentals in Brazil
- North Sea operators continue to plan for future campaigns with focus on 2027 and beyond
- Increased backlog, improved market and recapitalisation positions Prosafe for improved earnings
Please see the Q1 2025 presentation for further details.

Terje Askvig, the CEO of Prosafe, says, “Operationally, we maintain high utilisation on our active fleet, while making good progress on preparing for new contracts in Australia and the UK. We also continue to build backlog with Safe Notos recently named winner, subject to final contract, of a 4-year tender with Petrobras in Brazil. We are also very pleased with the support shown by our lenders and shareholders through the agreed refinancing which will create a sustainable capital structure going forward and ensure that Prosafe continues to be the world’s leading provider of floating accommodation vessels and Units for Maintenance and Safety (UMS).”

Presentation

Terje Askvig, CEO, and Reese McNeel, CFO, will present the results at Pareto Securities, located at Dronning Mauds gate 3, 0115 Oslo, on 21 May 2025 at 10:00 CEST.

This presentation is open to the public and will be live-streamed on Prosafe’s website.

https://wwww.prosafe.com

It will be possible to ask questions during the presentation by using the Q&A tool embedded in the audiocast. These questions will be answered after the presentation.

A replay of the audiocast will be made available on Prosafe’s website shortly after.

The Q1 2025 press release and presentation is attached and can be downloaded from https://www.prosafe.com and www.newsweb.no (https://www.newsweb.no). The 2024 annual report was published on 30 April 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 www.prosafe.com (https:///www.prosafe.com)

For further information, please contact:

Terje Askvig, CEO Phone: +47 952 03 886

Reese McNeel, CFO Phone: +47 415 08 186

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

Attachments
- Q1 2025 presentation Prosafe
- Q1 2025 earnings release
The MIL Network –
May 21, 2025
MIL-OSI New Zealand: Release: Half a billion dollar tax break for tech giants

Source: New Zealand Labour Party

The Government is taking the Digital Services Tax off their books, effectively handing a $479 million tax break to global tech giants, like Facebook and Google.

“First it was tax breaks for landlords and tobacco companies, now it’s multinational technology companies,” Labour finance and economy spokesperson Barbara Edmonds said.

“Under National if you’re already doing well, you can have a tax break to do even better. But everyone else, everyday Kiwis, miss out.

“The message from this Government could not be clearer: if you’re a woman seeking equal pay, or a family trying to get the FamilyBoost payment that was promised to you, then you don’t matter.

“But if a wealthy corporation comes asking for help, they will bend over backwards to give them a break—at your expense.

“Nicola Willis promised Kiwi families $250 a fortnight, but she can’t find a single family who got it. More than a quarter of their FamilyBoost scheme, about $14 million, has been eaten up in bureaucracy instead of going to families as promised.

“They’re telling New Zealanders we need to tighten our belts, but this Government keeps giving handouts to the people who need it least and taking it from the people who need it most.

“Budgets are about choices, and at every turn this Government is making the wrong choices.

“We need a government that is focused on improving the lives of New Zealanders, not making global tech giants like Facebook and Google even more profit,” Barbara Edmonds said.

Note to editors: The $479 million figure comes from the Half Year Economic and Fiscal Update 2024 (page 76), which states: “The forecasts currently account for a 1 January 2026 implementation and include revenue of $479 million over the forecast period in relation to the DST with an additional $146 million per annum expected beyond the forecast period.”

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MIL OSI New Zealand News –

May 21, 2025
MIL-Evening Report: Interest rates are coming down. Here’s what homeowners should know about refinancing
Source: The Conversation (Au and NZ) – By Ama Samarasinghe, Lecturer, Financial Planning and Tax, RMIT University

doublelee/Shutterstock

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

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

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

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

What is refinancing?

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

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

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

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

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

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

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

Can refinancing save you money?

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

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

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

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

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

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

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

2. Careful how you compare

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

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

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

3. Factor in all associated costs

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

4. Consider renegotiating with your existing lender first

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

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

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

5. Don’t assume your repayments will drop automatically

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

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

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

6. Check your credit score before applying

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

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

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

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

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

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

– ref. Interest rates are coming down. Here’s what homeowners should know about refinancing – https://theconversation.com/interest-rates-are-coming-down-heres-what-homeowners-should-know-about-refinancing-257116
MIL OSI Analysis – EveningReport.nz –
May 21, 2025
MIL-OSI USA: 05.20.2025 Sen. Cruz’s ‘No Tax on Tips’ Legislation Passes Senate

US Senate News:

Source: United States Senator for Texas Ted Cruz
WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas) issued a statement following the passing of his No Tax on Tips Act in the U.S. Senate with a vote of 100-0. This bipartisan legislation will exempt tips from being subject to taxation under the federal income tax.
Sen. Cruz said, “President Trump made a promise to the American people that he would eliminate taxes on tips. In Congress, I formed a bipartisan, bicameral coalition to get that done, and in the Senate introduced the No Tax on Tips Act. Today, I went with Senator Rosen to the floor to secure Senate passage of the bill. This legislation will have a lasting impact on millions of Americans by protecting the hard-earned dollars of blue-collar workers, the very people who are living paycheck-to-paycheck. I urge my colleagues in the House to pass this important bill and send it to the President’s desk to be signed into law.”
BACKGROUND
The bill exempts “cash tips”—cash, credit and debit card charges, and checks—from federal income tax by allowing taxpayers to claim a 100% deduction at filing for tipped wages. The updated text includes guardrails to ensure only traditionally tipped employees will benefit from No Tax on Tips.
Read the bill text here.
Sen. Cruz has consistently prioritized tax cuts and job access:
Sen. Cruz helped enact historic tax reform in 2017, which gave a tax cut to virtually every taxpayer in America. It reduced taxes on small businesses, farmers, ranchers, and job producers, which has helped bring jobs to Texas.
He has fought to make permanent the 2017 historic tax cuts for individuals.
Sen. Cruz also helped pass the USMCA trade agreement, which was signed by President Trump, a decisive victory for Texas farmers, ranchers, businesses, and manufacturers.
For his efforts to support Texas businesses large and small, Sen. Cruz received the U.S. Chamber of Commerce’s prestigious “Spirit of Enterprise” award.

MIL OSI USA News –

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

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

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

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

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

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

MIL Security OSI –

May 21, 2025
Airstrikes kill dozens in Gaza, international criticism of Israel grows

Source: Government of India

Source: Government of India (4)

Israeli forces killed at least 55 Palestinians in airstrikes in Gaza on Tuesday, local medics said, continuing to bombard the enclave despite mounting international pressure to halt military operations and allow unimpeded deliveries of aid.

Britain announced it was suspending trade talks with Israel and summoning its ambassador over “egregious policies” in the occupied West Bank and Gaza, while European Union foreign policy chief Kaja Kallas asked for a review of the EU-Israel trade deal, according to Dutch news agency ANP.

The war, now in its 20th month, has left Gaza in ruins and its population facing a worsening hunger crisis. It has strained Israel’s relations with much of the world and those with its closest ally, the United States, now appear to be wavering.

The United Nations said no humanitarian aid had been distributed yet in Gaza, although Israel eased its 11-week-old blockade on Monday.

“Israeli authorities are requiring us to offload supplies on the Palestinian side of Kerem Shalom crossing and reload them separately once they secure our team’s access from inside Gaza,” said U.N. spokesperson Stephane Dujarric.

He said four trucks of baby food were dropped off on the Palestinian side of the border on Monday, and that a few dozen trucks of flour, medicine, nutrition supplies and other basic items entered Gaza on Tuesday.

Israel’s military said 93 UN aid trucks entered Gaza on Tuesday via Kerem Shalom “after a thorough security inspection”.

Indirect ceasefire talks between Israel and Hamas militants in Qatar appeared to falter again, with Israeli Prime Minister Benjamin Netanyahu saying he had decided to bring back the senior negotiating team from Doha for consultations.

Hamas accused Netanyahu of entering the talks in bad faith, pretending to participate in a bid to mislead global public opinion. “No real negotiations have taken place since last Saturday,” the Palestinian Islamist group said in a statement.

Israel’s military chief said during a Gaza field tour that the army would expand its operations against Hamas, capture additional territory and “clear and destroy the terrorist infrastructure until (Hamas) is defeated”.

18 DEAD IN AIRSTRIKE ON TWO HOMES, MEDICS SAY

Israel conducted further airstrikes on Tuesday across the densely populated enclave and medics said the sites hit included two homes where children were among the 18 dead, and a school housing displaced families.

Israel’s military, which on Monday warned those in the southern Gaza city of Khan Younis to evacuate to the coast as it prepared for an “unprecedented attack”, had no comment. Israel says Hamas uses civilian buildings for cover; Hamas denies this.

In Gaza City, Reuters footage showed men, women and children sifting through the rubble of the Daraj neighbourhood school where they had been sheltering, and where charred pieces of clothing and a red teddy bear lay among scattered belongings.

At nearby Al-Ahli Hospital, men said prayers over bodies wrapped in white shrouds, before carrying them to their graves.

“What is our fault? What is the fault of children? What is the fault of the women we found on the stairs with their hair and clothes torn and burned?” said Omar Ahel, who had been sheltering at the school. “By God, this is injustice.”

Israeli strikes have killed more than 500 people in the past nine days as the military campaign has intensified, Gaza medics say.

SANCTIONS

British Prime Minister Keir Starmer told parliament he, along with the leaders of France and Canada, was “horrified” by Israel’s military escalation, repeating calls for a ceasefire.

The three nations had warned on Monday of “concrete actions” against Israel if it did not stop military operations in Gaza and lift restrictions on aid.

In addition to suspending trade talks, Britain announced sanctions against a number of individuals and groups in the Israeli-occupied West Bank over alleged violence against Palestinian residents.

EU sanctions on violent Israeli settlers have been prepared but have so far been blocked by one member state, the EU’s Kallas said, without naming the country.

“External pressure will not divert Israel from its path in defending its existence and security against enemies who seek its destruction,” Israeli Foreign Ministry spokesperson Oren Marmorstein posted on X.

Israel’s ground and air offensive has displaced nearly all Gaza’s 2.3 million residents and killed more than 53,000, according to Gaza health authorities.

The campaign began after Hamas-led militants attacked Israeli communities near Gaza’s border in October 2023, killing about 1,200 people and seizing 251 hostages, according to Israeli tallies.

The hunger crisis in Gaza deepened after Israel imposed a blockade on supplies from March 2. The U.N. says at least 500 trucks of aid and commercial goods need to enter Gaza every day to alleviate the humanitarian crisis.

Louise Wateridge of the U.N. Palestinian refugee agency UNRWA said on Tuesday there was little food left.

“Everything’s empty. The warehouses, the distribution centres, they’ve been empty for weeks,” she said, speaking from a warehouse in Jordan that she said had food for 200,000 people that could be driven to Gaza in just a few hours.

Israel’s leadership has insisted that it can free remaining hostages and dismantle Hamas through stepped-up military action. Hamas has said it would free the hostages in exchange for an end to the war and the release of Palestinians in Israeli jails.

(Reuters)

May 21, 2025

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