NAV $2.82 (6/30/24)

Semi-Annual Report (6/30/24)

https://www.altaba.com/static-files/65088a03-33f0-4e1d-b40d-ebf1589fc491

Altaba Announces Liquidating Distribution of $1.10 Per Share (7/31/24)

NEW YORK--(BUSINESS WIRE)--Altaba Inc. (“Altaba” or the “Fund”) today announced that the Board approved a
liquidating distribution of $1.10 per share of the Fund’s common stock, par value $0.001 per share, or $571,462,502 in the
aggregate (the “Liquidating Distribution”), which will be payable on August 13, 2024.

As previously announced, at a special meeting of stockholders held on June 27, 2019, stockholders of the Fund approved
a Plan of Complete Liquidation and Dissolution (the “Plan”), pursuant to which, the Fund filed a certificate of dissolution
with the Secretary of State of the State of Delaware to dissolve the Fund on October 4, 2019.

On May 28, 2020, as part of the Fund’s court-supervised wind-up proceedings pursuant to Sections 280 and 281(a) of the
General Corporation Law of the State of Delaware (the “DGCL”) pending before the Court of Chancery of the State of
Delaware (the “Chancery Court”), the Fund filed a verified petition for determinations pursuant to Section 280 of the DGCL
(the “Chancery Action”).

On June 18, 2020, the United States Department of Justice (the “DOJ”), on behalf of the United States Internal Revenue
Service (the “IRS”), filed a Notice of Removal in the Chancery Court removing claims of the IRS in the Chancery Action to
the United States District Court for the District of Delaware (the “District of Delaware”). The Fund, together with the DOJ,
filed with the District of Delaware a Joint Motion Regarding Claims Raised by Claimant the Internal Revenue Service,
following which the District of Delaware entered an order on October 26, 2020 (the “Order”) establishing a separate
account in the Fund’s name with the purpose of holding an agreed upon amount as security for the claims asserted by the
IRS (the “Agreed Security Amount”). During the second quarter of 2023 and the second quarter of 2024, the IRS approved
a reduction to the Agreed Security Amount for a total of approximately $132 million that allowed the Fund to make a
distribution of such amount.

On January 20, 2023, Altaba and Emily Larocque filed, and the Chancery Court granted, a stipulated order (the “Larocque
Order”) setting the final holdback for the putative class action claim asserted by Emily Larocque in Saskatchewan,
Canada, arising from the security incidents that took place between 2013 and 2016, which involved stolen Yahoo! user
account information and forged cookies (the “Larocque Action”) and authorizing the Fund, among other things, to make
one or more additional distributions totaling, in the aggregate, $200,000,000 upon the issuance by the Court of Appeal for
Saskatchewan, Canada, of an opinion affirming the grant of the permanent stay previously granted by the Queen’s Bench
for Saskatchewan, Canada, reflecting the difference between the Fund’s then current holdback for the Larocque Action
and the stipulated holdback. On May 25, 2023, the Court of Appeal for Saskatchewan, Canada affirmed the permanent
stay of the Larocque Action which allowed the Fund to distribute the additional $200,000,000 from the holdback in the
Larocque Action. On December 14, 2023, the Court of Appeal for Saskatchewan, Canada dismissed the leave to appeal
from its judgment from the Larocque Action, which allowed the Fund to distribute the final holdback of $100,000,000.

Altaba Announces Liquidating Distribution of $1.10 Per Share

On June 23, 2022, the Company filed with the Chancery Court a Stipulation and Proposed Order Regarding Final
Monetary Holdback and Security for Claim of Droplets, Inc. (the “Requested Droplets Holdback Order”) that requested a
holdback be maintained for $75 million until the earlier of (i) the full payment of all amounts due to Droplets pursuant to a
settlement of all claims in the Patent Litigation; or (ii) the full payment of the amounts due to Droplets pursuant to a final
non-appealable judgment in the Patent Litigation. On June 23, 2022, the Chancery Court entered the Requested Droplets
Holdback Order. On December 20, 2023, a mandate was issued by the United States District Court for the Northern
District of California to dismiss the case allowing the Fund to distribute the holdback of $75 million.

In determining the aggregate amount to be distributed in the Liquidating Distribution, the Board also determined to
authorize certain additional funds for distribution including, among others, the receipt of state income tax refunds received
by the Company, federal interest refunds received by the Company, and excess interest earned on the Company’s
investment portfolio, which in the aggregate, totaled approximately $65 million.

The Liquidating Distribution represents a partial distribution of the remaining assets of the Fund. Further information
regarding the amount and timing of any subsequent liquidating distributions to stockholders will be provided in subsequent
press releases or filings with the SEC as such information becomes available.

About Altaba

Altaba is an independent, closed-end management investment company registered under the Investment Company Act of
1940. The Fund’s assets primarily consist of a mix of cash and cash equivalents.

Prior to June 16, 2017, Altaba was known as “Yahoo! Inc.” Altaba was created from Yahoo! Inc. after the sale of its
operating businesses, at which time Yahoo! Inc. reorganized as an investment company, was renamed Altaba Inc., and
began trading under the Nasdaq ticker symbol AABA.

Visit www.altaba.com for more information.

https://www.altaba.com/static-files/02086331-07a1-4172-9a9f-c154d578f62f

NAV $2.79 (3/31/24)

https://www.altaba.com/static-files/fe5ad18c-55b8-4b05-a584-3f45cc3d0c9e

Vistra to Acquire Equity Interests of Vistra Vision LLC from Minority Investors (9/18/24)

Vistra to become the sole owner of Vistra Vision

Highlights

- Transaction, consisting of the acquisition of the entire 15% equity interest in Vistra Vision currently owned by affiliates of Nuveen and Avenue, is expected to close on Dec. 31, 2024.

- Net present value cash purchase price, which will be paid in installments over two years from the closing date, of $3.085 billion(1), subject to adjustment based on the amount of Vistra Vision dividends received by the minority investors prior to closing.

- Increases upside related to nuclear, solar, and battery assets, as well as its retail business currently majority owned and operated by Vistra.

- Transaction is expected to significantly exceed the company's mid-teens levered return thresholds and is forecasted to be immediately accretive to shareholders.

- Vistra remains committed to its long-term net leverage target of less than 3x(2) and continues to expect to execute at least $2.25 billion of share repurchases in 2024 and 2025, and at least $1 billion of additional share repurchases in 2026(3).

IRVING, Texas, Sept. 18, 2024 /PRNewswire/ -- Vistra Corp. (NYSE: VST) today announced that it has executed definitive agreements with affiliates of Nuveen Asset Management, LLC, and Avenue Capital Management II, L.P., to acquire their combined 15% equity interest in Vistra Vision LLC. This will result in Vistra being the sole owner of its Vistra Vision subsidiary, which includes its zero-carbon nuclear, energy storage, and solar generation assets, as well as its retail business.

Vistra President and CEO Jim Burke stated, "This is another key milestone in the evolution of our company. Through this transaction we are simplifying the overall structure by acquiring the minority interest at an attractive valuation and increasing our shareholder's ownership to 100% of highly valuable, carbon-free assets in the key growing markets across the U.S."

Burke concluded, "Vistra believes its strength is its integrated model of pairing a large fleet of dispatchable generation assets with best-in-class retail and commercial operations, ensuring customers are served in a reliable, affordable, and sustainable manner. Vistra continues to be well-positioned to assist with the growing power needs across our country."

Transaction Structure

Vistra will acquire the 15% equity interest collectively owned by Nuveen and Avenue for an undiscounted purchase price of $3.248 billion in cash, which it expects to pay in five installments of $1.18 billion on Dec. 31, 2024, $114 million on June 30, 2025, $1.0 billion on Dec. 31, 2025, $54 million on June 30, 2026, and $900 million on Dec. 31, 2026. The net present value of the purchase price as of Dec. 31, 2024, discounted at a 6% interest rate, is $3.085 billion.

Additionally, if Nuveen and Avenue receive less than $165 million in dividends from Vistra Vision for the remainder of 2024, then the amount of the installment payable on Dec. 31, 2024, will be adjusted upward by the difference, and if they receive dividends in excess of $165 million, then the amount will be adjusted downward by the difference.

Vistra's Capital Allocation Plan Unchanged

The agreement does not impact or change Vistra's capital allocation priorities. Vistra remains committed to its long-term net leverage target of less than 3x2. Vistra also continues to expect to execute at least $2.25 billion of share repurchases in 2024 and 2025 and at least $1 billion in 20263, as well as pay $300 million in aggregate common dividends in each year 2024-20263.

Conditions and Timing

The transaction, which is not subject to any regulatory approvals, is expected to close on Dec. 31, 2024.

Advisors

Citi is serving as financial advisor, and Latham & Watkins LLP and Sidley Austin LLP are serving as legal advisors to Vistra.

Evercore and PJT Partners are serving as financial advisors and Kramer Levin Naftalis & Frankel LLP is serving as legal advisor to Nuveen and Avenue.

About Vistra Vision LLC

Assets owned by Vistra Vision LLC consist of the Beaver Valley, Comanche Peak, Davis-Besse, and Perry nuclear generation facilities with total capacity of approximately 6.4 GW, the Vistra Zero renewables and energy storage business, and Vistra's retail business. As of June 30, 2024, total debt outstanding and cash on hand at Vistra Vision LLC were approximately $3.55 billion and $375 million, respectively.

About Vistra

Vistra (NYSE: VST) is a leading Fortune 500 integrated retail electricity and power generation company that provides essential resources to customers, businesses, and communities from California to Maine, including the key markets of ERCOT, PJM and ISO New England. Based in Irving, Texas, Vistra is a leader in the energy transformation with an unyielding focus on reliability, affordability, and sustainability. The company safely operates a reliable, efficient, power generation fleet of natural gas, nuclear, coal, solar, and battery energy storage facilities while taking an innovative, customer-centric approach to its retail business. Learn more at https://www.vistracorp.com.

(1) Calculated as of Dec. 31, 2024, utilizing a 6% discount rate.

(2) Excluding any non-recourse debt at Vistra Zero and any benefit from margin deposits.

(3) Subject to board authorization.

https://www.prnewswire.com/news-releases/vistra-to-acquire-equity-interests-of-vistra-vision-llc-from-minority-investors-302252376.html

Vistra to Acquire Equity Interests of Vistra Vision LLC from Minority Investors (9/18/24)

Vistra to become the sole owner of Vistra Vision

Highlights

- Transaction, consisting of the acquisition of the entire 15% equity interest in Vistra Vision currently owned by affiliates of Nuveen and Avenue, is expected to close on Dec. 31, 2024.

- Net present value cash purchase price, which will be paid in installments over two years from the closing date, of $3.085 billion(1), subject to adjustment based on the amount of Vistra Vision dividends received by the minority investors prior to closing.

- Increases upside related to nuclear, solar, and battery assets, as well as its retail business currently majority owned and operated by Vistra.

- Transaction is expected to significantly exceed the company's mid-teens levered return thresholds and is forecasted to be immediately accretive to shareholders.

- Vistra remains committed to its long-term net leverage target of less than 3x(2) and continues to expect to execute at least $2.25 billion of share repurchases in 2024 and 2025, and at least $1 billion of additional share repurchases in 2026(3).

IRVING, Texas, Sept. 18, 2024 /PRNewswire/ -- Vistra Corp. (NYSE: VST) today announced that it has executed definitive agreements with affiliates of Nuveen Asset Management, LLC, and Avenue Capital Management II, L.P., to acquire their combined 15% equity interest in Vistra Vision LLC. This will result in Vistra being the sole owner of its Vistra Vision subsidiary, which includes its zero-carbon nuclear, energy storage, and solar generation assets, as well as its retail business.

Vistra President and CEO Jim Burke stated, "This is another key milestone in the evolution of our company. Through this transaction we are simplifying the overall structure by acquiring the minority interest at an attractive valuation and increasing our shareholder's ownership to 100% of highly valuable, carbon-free assets in the key growing markets across the U.S."

Burke concluded, "Vistra believes its strength is its integrated model of pairing a large fleet of dispatchable generation assets with best-in-class retail and commercial operations, ensuring customers are served in a reliable, affordable, and sustainable manner. Vistra continues to be well-positioned to assist with the growing power needs across our country."

Transaction Structure

Vistra will acquire the 15% equity interest collectively owned by Nuveen and Avenue for an undiscounted purchase price of $3.248 billion in cash, which it expects to pay in five installments of $1.18 billion on Dec. 31, 2024, $114 million on June 30, 2025, $1.0 billion on Dec. 31, 2025, $54 million on June 30, 2026, and $900 million on Dec. 31, 2026. The net present value of the purchase price as of Dec. 31, 2024, discounted at a 6% interest rate, is $3.085 billion.

Additionally, if Nuveen and Avenue receive less than $165 million in dividends from Vistra Vision for the remainder of 2024, then the amount of the installment payable on Dec. 31, 2024, will be adjusted upward by the difference, and if they receive dividends in excess of $165 million, then the amount will be adjusted downward by the difference.

Vistra's Capital Allocation Plan Unchanged

The agreement does not impact or change Vistra's capital allocation priorities. Vistra remains committed to its long-term net leverage target of less than 3x2. Vistra also continues to expect to execute at least $2.25 billion of share repurchases in 2024 and 2025 and at least $1 billion in 20263, as well as pay $300 million in aggregate common dividends in each year 2024-20263.

Conditions and Timing

The transaction, which is not subject to any regulatory approvals, is expected to close on Dec. 31, 2024.

Advisors

Citi is serving as financial advisor, and Latham & Watkins LLP and Sidley Austin LLP are serving as legal advisors to Vistra.

Evercore and PJT Partners are serving as financial advisors and Kramer Levin Naftalis & Frankel LLP is serving as legal advisor to Nuveen and Avenue.

About Vistra Vision LLC

Assets owned by Vistra Vision LLC consist of the Beaver Valley, Comanche Peak, Davis-Besse, and Perry nuclear generation facilities with total capacity of approximately 6.4 GW, the Vistra Zero renewables and energy storage business, and Vistra's retail business. As of June 30, 2024, total debt outstanding and cash on hand at Vistra Vision LLC were approximately $3.55 billion and $375 million, respectively.

About Vistra

Vistra (NYSE: VST) is a leading Fortune 500 integrated retail electricity and power generation company that provides essential resources to customers, businesses, and communities from California to Maine, including the key markets of ERCOT, PJM and ISO New England. Based in Irving, Texas, Vistra is a leader in the energy transformation with an unyielding focus on reliability, affordability, and sustainability. The company safely operates a reliable, efficient, power generation fleet of natural gas, nuclear, coal, solar, and battery energy storage facilities while taking an innovative, customer-centric approach to its retail business. Learn more at https://www.vistracorp.com.

(1) Calculated as of Dec. 31, 2024, utilizing a 6% discount rate.

(2) Excluding any non-recourse debt at Vistra Zero and any benefit from margin deposits.

(3) Subject to board authorization.

https://www.prnewswire.com/news-releases/vistra-to-acquire-equity-interests-of-vistra-vision-llc-from-minority-investors-302252376.html

Nuveen Intermediate Duration Municipal Term Fund Liquidating Trust – Monthly Update (8/31/24)

Schedule of portfolio investments

27,647 shares Vistra Vision $69,394,715

NAV: $1.49

Nuveen Intermediate Duration Quality Municipal Term Fund Liquidating Trust – Monthly Update (8/31/24)

Schedule of portfolio investments

2,777 shares Vistra Vision $6,970,468

NAV: $0.54

Vistra to Acquire Equity Interests of Vistra Vision LLC from Minority Investors (9/18/24)

Vistra to become the sole owner of Vistra Vision

Highlights

- Transaction, consisting of the acquisition of the entire 15% equity interest in Vistra Vision currently owned by affiliates of Nuveen and Avenue, is expected to close on Dec. 31, 2024.

- Net present value cash purchase price, which will be paid in installments over two years from the closing date, of $3.085 billion(1), subject to adjustment based on the amount of Vistra Vision dividends received by the minority investors prior to closing.

- Increases upside related to nuclear, solar, and battery assets, as well as its retail business currently majority owned and operated by Vistra.

- Transaction is expected to significantly exceed the company's mid-teens levered return thresholds and is forecasted to be immediately accretive to shareholders.

- Vistra remains committed to its long-term net leverage target of less than 3x(2) and continues to expect to execute at least $2.25 billion of share repurchases in 2024 and 2025, and at least $1 billion of additional share repurchases in 2026(3).

IRVING, Texas, Sept. 18, 2024 /PRNewswire/ -- Vistra Corp. (NYSE: VST) today announced that it has executed definitive agreements with affiliates of Nuveen Asset Management, LLC, and Avenue Capital Management II, L.P., to acquire their combined 15% equity interest in Vistra Vision LLC. This will result in Vistra being the sole owner of its Vistra Vision subsidiary, which includes its zero-carbon nuclear, energy storage, and solar generation assets, as well as its retail business.

Vistra President and CEO Jim Burke stated, "This is another key milestone in the evolution of our company. Through this transaction we are simplifying the overall structure by acquiring the minority interest at an attractive valuation and increasing our shareholder's ownership to 100% of highly valuable, carbon-free assets in the key growing markets across the U.S."

Burke concluded, "Vistra believes its strength is its integrated model of pairing a large fleet of dispatchable generation assets with best-in-class retail and commercial operations, ensuring customers are served in a reliable, affordable, and sustainable manner. Vistra continues to be well-positioned to assist with the growing power needs across our country."

Transaction Structure

Vistra will acquire the 15% equity interest collectively owned by Nuveen and Avenue for an undiscounted purchase price of $3.248 billion in cash, which it expects to pay in five installments of $1.18 billion on Dec. 31, 2024, $114 million on June 30, 2025, $1.0 billion on Dec. 31, 2025, $54 million on June 30, 2026, and $900 million on Dec. 31, 2026. The net present value of the purchase price as of Dec. 31, 2024, discounted at a 6% interest rate, is $3.085 billion.

Additionally, if Nuveen and Avenue receive less than $165 million in dividends from Vistra Vision for the remainder of 2024, then the amount of the installment payable on Dec. 31, 2024, will be adjusted upward by the difference, and if they receive dividends in excess of $165 million, then the amount will be adjusted downward by the difference.

Vistra's Capital Allocation Plan Unchanged

The agreement does not impact or change Vistra's capital allocation priorities. Vistra remains committed to its long-term net leverage target of less than 3x2. Vistra also continues to expect to execute at least $2.25 billion of share repurchases in 2024 and 2025 and at least $1 billion in 20263, as well as pay $300 million in aggregate common dividends in each year 2024-20263.

Conditions and Timing

The transaction, which is not subject to any regulatory approvals, is expected to close on Dec. 31, 2024.

Advisors

Citi is serving as financial advisor, and Latham & Watkins LLP and Sidley Austin LLP are serving as legal advisors to Vistra.

Evercore and PJT Partners are serving as financial advisors and Kramer Levin Naftalis & Frankel LLP is serving as legal advisor to Nuveen and Avenue.

About Vistra Vision LLC

Assets owned by Vistra Vision LLC consist of the Beaver Valley, Comanche Peak, Davis-Besse, and Perry nuclear generation facilities with total capacity of approximately 6.4 GW, the Vistra Zero renewables and energy storage business, and Vistra's retail business. As of June 30, 2024, total debt outstanding and cash on hand at Vistra Vision LLC were approximately $3.55 billion and $375 million, respectively.

About Vistra

Vistra (NYSE: VST) is a leading Fortune 500 integrated retail electricity and power generation company that provides essential resources to customers, businesses, and communities from California to Maine, including the key markets of ERCOT, PJM and ISO New England. Based in Irving, Texas, Vistra is a leader in the energy transformation with an unyielding focus on reliability, affordability, and sustainability. The company safely operates a reliable, efficient, power generation fleet of natural gas, nuclear, coal, solar, and battery energy storage facilities while taking an innovative, customer-centric approach to its retail business. Learn more at https://www.vistracorp.com.

(1) Calculated as of Dec. 31, 2024, utilizing a 6% discount rate.

(2) Excluding any non-recourse debt at Vistra Zero and any benefit from margin deposits.

(3) Subject to board authorization.

https://www.prnewswire.com/news-releases/vistra-to-acquire-equity-interests-of-vistra-vision-llc-from-minority-investors-302252376.html

Pink

ExO Phosphate Project - NAFTA Case

OMEX sought damages of over $2 billion.

NexPoint Highlights How United Development Funding IV (UDF IV) Financial Statements Reveal Questionable Conduct and Value Erosion Under Board of Trustees (9/16/24)

Urges Shareholders to Vote for Board Change by Supporting NexPoint Nominees

DALLAS, Sept. 16, 2024 /PRNewswire/ -- NexPoint Real Estate Opportunities, LLC (together with its affiliates "NexPoint") announced today that it has sent a letter to fellow shareholders of United Development Funding IV ("UDF IV" or the "Company"), a real estate investment trust, ahead of the Company's upcoming Annual Meeting of Shareholders, which must be held on or before December 31, 2024.

NexPoint's letter details how UDF IV's financial statements reveal questionable conduct by the Board of Trustees, leading to significant value erosion. The letter highlights UDF IV's skyrocketing impaired loans, questionable loan extensions, unhealthy loan concentration to one borrower, asset erosion from G&A expenses, and misleading statements. NexPoint urges shareholders to vote for change by supporting NexPoint nominees Paul S. Broaddus, Edward N. Constantino, John A. Good, and Julie Silcock.

Shareholders can read the full letter here.

While UDF IV has not announced its Annual Meeting date, shareholders can vote TODAY using NexPoint's GREEN proxy materials to enact long overdue change and elect Trustees who will work for all shareholders to maximize value at UDF IV.

NexPoint encourages shareholders to visit udfaccountability.com and complete the contact form to receive ongoing updates about the Company and the upcoming Annual Meeting.

Shareholders can also contact NexPoint via email at udfinvestors@nexpoint.com.

About NexPoint

NexPoint Real Estate Opportunities, LLC is a wholly owned subsidiary of NexPoint Diversified Real Estate Trust, Inc. (NYSE: NXDT), an affiliate of NexPoint Advisors, L.P.

NexPoint Advisors, L.P. is an SEC-registered adviser on the NexPoint alternative investment platform. It serves as the adviser to a suite of funds and investment vehicles, including a closed-end fund, interval fund, business development company, and various real estate vehicles. For more information visit www.nexpoint.com

IMPORTANT INFORMATION

NexPoint Real Estate Opportunities, LLC ("NexPoint") intends to deliver a proxy statement with respect to its solicitation of proxies for nominees to be elected to the United Development Funding IV ("UDF IV") Board of Trustees at the Annual Meeting of Shareholders of UDF IV. The date for the Annual Meeting has not yet been set and NexPoint is not soliciting proxies at this time. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE NEXPOINT PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) WHEN AVAILABLE IN ITS ENTIRETY BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. Copies of the documents will be made available free of charge from NexPoint by accessing the website www.udfaccountability.com.

NexPoint, its affiliates, their directors and executive officers and other members of management and employees may be participants (collectively "Participants") in the solicitation of proxies by NexPoint. Information about NexPoint's nominees to the UDF IV Board of Trustees and information regarding the direct or indirect interests in UDF IV, by security holdings or otherwise, of NexPoint, the other Participants and NexPoint's nominees will be available in the proxy statement. NexPoint's disclosure of any security holdings will be based on information made available to NexPoint by such Participants and nominees. UDF IV is no longer subject to the reporting requirements of the Securities Exchange Act of 1934, as amended. Consequently, NexPoint's knowledge of significant security holders of UDF IV and as to UDF IV itself is limited.

CONTACT INFORMATION

UDF IV Investor Contacts
Chuck Garske / Jeremy Provost / Theo Caminiti (Okapi Partners):
Email: info@okapipartners.com
Phone: (212) 297-0720

For Additional Information/Updates on UDF IV
Website: www.udfaccountability.com
Email: udfinvestors@nexpoint.com

https://www.prnewswire.com/news-releases/nexpoint-highlights-how-united-development-funding-iv-udf-iv-financial-statements-reveal-questionable-conduct-and-value-erosion-under-board-of-trustees-302249289.html

Digital Media Solutions, Inc. Reaches Agreement to Transition Ownership to Existing Lenders, Positioning Business for Continued Innovation and Growth (9/12/24)

Enters Asset Purchase Agreement with Existing Lenders

Commences Voluntary Chapter 11 Cases to Facilitate Efficient Sale; Expects to Complete Process in the Fourth Quarter of 2024

Secures Commitment of Approximately $122 Million in Debtor-in-Possession Financing

Continues to Serve Customers as Usual with Leading Technology-Enabled Digital Performance Advertising Solutions

CLEARWATER, Fla., Sept. 11, 2024 (GLOBE NEWSWIRE) -- Digital Media Solutions, Inc., (“DMS” or the “Company”), a leading provider of technology-enabled digital performance advertising solutions connecting consumers and advertisers, today announced it has entered into an asset purchase agreement (the “APA”) with existing lenders (the “Lenders”), including a consortium of leading financial institutions. In addition, the Company has secured an approximately $122 million financing commitment from certain of the Lenders to facilitate voluntary Chapter 11 proceedings and execute a court-supervised sale process designed to maximize value, strengthen the business’s financial foundation and position DMS for continued growth.

“DMS has a strong foundation and serves our expansive blue-chip client base across the insurance, e-commerce, education, home services and non-profit sectors through our differentiated performance marketing solutions,” said Joe Marinucci, Co-Founder and CEO of DMS. “The steps we are taking are the result of the strategic review that the DMS Board of Directors initiated in April. We are now moving forward with the support of highly sophisticated investors, and we believe their commitments for new financing and the APA underscore their conviction in our business and the future of DMS. We are continuing our growth trajectory and are confident we will be an even stronger partner for our clients and vendors.”

Mr. Marinucci continued, “We expect this to be an orderly and efficient process and, as we move through it, we remain committed to connecting advertisers with high-intent consumers. We appreciate the continued support of our customers, vendors and financial stakeholders. We also thank our employees for their continued hard work and dedication to innovating and serving our clients.”

To facilitate the sale process, DMS today commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas. The Company’s ClickDealer subsidiaries are not part of the Chapter 11 proceedings, but they are included in the proposed sale to the Lenders. DMS is operating in the ordinary course across its businesses, including its ClickDealer subsidiaries, and continuing to provide innovative solutions, vertical expertise and outstanding support to its clients and vendors.

The Chapter 11 Proceedings

The court-supervised sale process will be conducted pursuant to section 363 of the U.S. Bankruptcy Code. Accordingly, the proposed transaction with the Lenders is subject to higher or otherwise better offers, Court approval and other customary conditions.

In connection with the Chapter 11 proceedings, DMS has received a commitment for approximately $122 million in debtor-in-possession (“DIP”) financing from certain of its existing lenders, comprising $30 million in new money commitments and approximately $92 million in a “roll-up” of pre-petition funded debt. Upon approval from the Court, the DIP financing, coupled with cash generated from the Company’s ongoing operations, is expected to support the business throughout the court-supervised sale process.

The Company has filed a number of customary motions seeking Court authorization to continue to support its business operations during the court-supervised sale process, including authority to continue payment of employee and contractor wages and benefits. The Company expects to receive Court approval for these requests and, accordingly, anticipates continuing its ordinary course operations. The Company also intends to pay vendors and suppliers in full under normal terms for services contracted for on or after the filing date.

Additional Information

Additional information is available at AdvancingDMS.com. Court filings and other information related to the sale process are available on a separate website administered by the Company’s claims agent, Omni Agent Solutions, at https://omniagentsolutions.com/DMS; by calling Omni representatives toll-free at (866) 680-8083, or (818) 574-6886 for calls originating outside of the U.S. or Canada; or by emailing DMSInquiries@OmniAgnt.com.

https://www.globenewswire.com/news-release/2024/09/12/2944913/0/en/Digital-Media-Solutions-Inc-Reaches-Agreement-to-Transition-Ownership-to-Existing-Lenders-Positioning-Business-for-Continued-Innovation-and-Growth.html

Advisors

Kirkland & Ellis LLP and Porter Hedges LLP are serving as legal counsel to DMS, Portage Point Partners is serving as restructuring advisor and Houlihan Lokey Capital, Inc. is serving as investment banker.

About DMS

Digital Media Solutions, Inc. (DMS) drives better business results by connecting high-intent consumers with advertisers across our core verticals: Insurance (auto, home, health), Education and Consumer/E-Commerce. Our innovative solutions help consumers shop and save, while helping our advertisers achieve above average return on ad spend. Learn more at https://digitalmediasolutions.com.

Mind Technology, Inc. Reports Fiscal 2025 Second Quarter Results (9/11/24)

THE WOODLANDS, Texas, Sept. 11, 2024 /PRNewswire/ -- MIND Technology, Inc. (NASDAQ: MIND) ("MIND" or the "Company") today announced financial results for its fiscal 2025 second quarter ended July 31, 2024.

Revenues from continuing operations for the second quarter of fiscal 2025 were approximately $10.0 million compared to approximately $7.6 million in the second quarter of fiscal 2024. The Company reported operating income from continuing operations of approximately $1.4 million for the second quarter of fiscal 2025 compared to an operating loss of $767,000 for the second quarter of fiscal 2024. Net income for the second quarter of fiscal 2025 amounted to $798,000 compared to a loss of approximately $1.5 million in the second quarter of fiscal 2024. Second quarter of fiscal 2025 net loss attributable to common shareholders (after declared and undeclared preferred stock dividends) was $149,000, or a loss of $0.11 per share compared to a loss of approximately $2.4 million, or a loss of $1.74 per share in the second quarter last year. Adjusted EBITDA from continuing operations for the second quarter of fiscal 2025 was approximately $1.8 million compared to a loss of $120,000 in the second quarter of fiscal 2024.

Adjusted EBITDA from continuing operations, which is a non-GAAP measure, is defined and reconciled to reported net income (loss) from continuing operations and cash used in operating activities in the accompanying financial tables. These are the most directly comparable financial measures calculated and presented in accordance with United States generally accepted accounting principles, or GAAP.

The backlog of Marine Technology Products related to our Seamap segment as of July 31, 2024 was approximately $26.2 million compared to approximately $17.0 million at July 31, 2023.

Rob Capps, MIND's President and Chief Executive Officer, stated, "We delivered positive results for our fiscal second quarter that were in line with our expectations and achieved further operational efficiencies that drove margin improvement. In addition to streamlining our operations and narrowing our strategic focus with the sale of Klein, we have been able to implement various cost containment initiatives that have meaningfully enhanced our financial results over the last twelve months. Our backlog remains strong, and is over 50% above the year ago amount. Furthermore, our pipeline of pending orders and prospects is also strong, with over $6 million of orders having been added since quarter end or that we expect shortly. This activity and ongoing discussions regarding other pending orders demonstrate the significant customer demand we are seeing across our differentiated product lines.

"Given our enhanced cost structure, current visibility, and robust customer engagement, we fully expect to achieve year-over-year revenue growth, positive Adjusted EBITDA and greater full year profitability in fiscal 2025.

"As announced last week, we have completed the conversion of our preferred stock to common stock. This is an important step for MIND. It simplifies our capital structure and, in my opinion, sets the stage for creating meaningful stockholder value," concluded Capps.

CONFERENCE CALL

Management has scheduled a conference call for Thursday, September 12, 2024 at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) to discuss the Company's fiscal 2025 second quarter results. To access the call, please dial (412) 902-0030 and ask for the MIND Technology call at least 10 minutes prior to the start time. Investors may also listen to the conference call live on the MIND Technology website, http://mind-technology.com, by logging onto the site and clicking "Investor Relations". A telephonic replay of the conference call will be available through September 19, 2024 and may be accessed by calling (201) 612-7415 and using passcode 13748560#. A webcast archive will also be available at http://mind-technology.com shortly after the call and will be accessible for approximately 90 days. For more information, please contact Dennard Lascar Investor Relations by email at MIND@dennardlascar.com.

ABOUT MIND TECHNOLOGY

MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit designs, manufactures, and sells specialized, high performance, marine exploration and survey equipment.

https://www.prnewswire.com/news-releases/mind-technology-inc-reports-fiscal-2025-second-quarter-results-302245348.html

Mesabi Trust Announces Arbitration Final Award (9/10/24)

NEW YORK--(BUSINESS WIRE)--AAA Arbitration Final Award

As previously reported, on October 14, 2022, Mesabi Trust initiated arbitration against Northshore Mining Company (“Northshore”), the lessee/operator of the leased lands, and its parent, Cleveland-Cliffs Inc. (“Cliffs”), with the American Arbitration Association (“AAA”). The Trust sought an award of damages relating to Cliffs’ and Northshore’s underpayment of royalties in 2020, 2021, and the first four months of 2022 by virtue of Cliffs’ and Northshore’s failure to use the highest priced arm’s-length iron ore pellet sale from the preceding four quarters in pricing certain pellet shipments from 2020 through the first four months of 2022. The Trust also sought declaratory relief related to the Trust’s entitlement to certain documentation and to the time when Cliffs’ and Northshore’s royalty obligations accrue.

The evidentiary hearing was completed before a panel of three arbitrators in March 2024 under the commercial rules of the AAA. Post-hearing briefs were exchanged in May 2024. Post-hearing oral arguments and final submissions were concluded in June 2024. The Trust received the final award on September 6, 2024, which unanimously awarded the Trust damages in the amount of $59,799,977 for underpaid royalties in 2020, 2021 and the first four months of 2022, plus pre-award interest in the amount of $11,288,269, calculated at the rate of 10% simple interest per annum from the date of the initial demand through September 1, 2024, and continuing to accrue until paid. Pursuant to the award, Cliffs and Northshore must pay the Trust the amounts specified in the Award by no later than October 6, 2024. The Tribunal approved the parties’ stipulated Consent Award approving the Trust’s ongoing entitlement to certain documentation related to verifying royalty calculations. The Tribunal denied the Trust’s request for declaratory relief regarding the time at which Cliffs’ and Northshore’s royalty obligations accrue.

Contacts
Mesabi Trust SHR Unit
Deutsche Bank Trust Company Americas
904-271-2520

https://www.businesswire.com/news/home/20240910020258/en/MESABI-TRUST-Announces-Arbitration-Final-Award

Simply, there are two proxies.

If you approve of the NexPoint slate and have already voted, do nothing.

LL Flooring Signs Agreement with F9 Investments for Going-Concern Sale of Business (9/06/24)

Asset Purchase Agreement Includes Acquisition of 219 Stores, Certain Inventory, Intellectual Property and Other Assets

Company Continues to Serve Customers and Provide a Broad Range of Hard and Soft Surface Flooring Both Online and in Stores

RICHMOND, Va.--(BUSINESS WIRE)--LL Flooring Holdings, Inc. (“LL Flooring” or the “Company”) (OTC Pink: LLFLQ), today announced that, as part of its ongoing Chapter 11 process, the Company has signed an agreement with F9 Investments for a going-concern sale of the business. Under the terms of the asset purchase agreement, F9 Investments will acquire 219 stores, inventory in those stores and in the Company’s Sandston, Virginia, distribution center, LL Flooring’s intellectual property and other company assets. The transaction is expected to be completed by the end of September, subject to approval by the Bankruptcy Court and other closing conditions.

Charles Tyson, President and Chief Executive Officer of LL Flooring, said, “We are pleased to have reached this agreement with F9 Investments for a going-concern sale following significant efforts by our team and advisors to preserve the business and maintain ongoing operations. As we move through the court-supervised process toward the approval and completion of this transaction, we remain committed to continuing to serve our valued customers and working closely with our vendors and partners. I continue to be appreciative of the ongoing focus and efforts of our associates to provide the best experience for our customers.”

As previously communicated, prior to entering the Chapter 11 process, the Company conducted extensive marketing processes with respect to its business and certain of its assets. The marketing process garnered significant interest, and the Company has used the Chapter 11 proceedings to continue pursuing a going-concern sale of its business under the Bankruptcy Code. While the Company had filed materials with the Bankruptcy Court on August 30, 2024 regarding the intent to pivot to a full liquidation of the business, the Company was able to subsequently reach the asset purchase agreement with F9 Investments that will maintain the business as a going-concern, pending approval by the Bankruptcy Court.

During the Chapter 11 process and as the Company works to complete the going-concern sale of the business, LL Flooring continues to generally operate in the normal course and remains focused on providing customers with a broad range of hard and soft surface flooring and an exceptional shopping experience. The 219 continuing stores that are part of the asset purchase agreement, along with the Company’s online platform, are open and continuing to serve customers with few changes to store operations and policies.

LL Flooring also continues to work with Hilco Merchant Resources, LLC, to assist the Company in store closing sales at 211 of its locations, including the recently initiated 117 store closings and the 94 store closings already in process that had been previously announced on August 11, 2014. These locations will remain open and serving customers through the store closing process.

Additional information about the Company’s Chapter 11 process is available at www.LLFlooringRestructuring.com.

Court filings and other information related to the proceedings are available on a separate website administrated by the company's claims agent, Stretto, at https://cases.stretto.com/LLFlooring; by calling Stretto representatives toll-free at 855-314-5841, or 714-716-1925 for calls originating outside of the U.S. or Canada; or by emailing Stretto at TeamLLFlooring@stretto.com.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel, Houlihan Lokey is serving as financial adviser, and AlixPartners LLP is serving as restructuring advisor to the Company.

About LL Flooring

LL Flooring is one of the country’s leading specialty retailers of hard-surface flooring with more than 300 stores nationwide. The Company seeks to offer the best customer experience online and in stores, with more than 500 varieties of hard-surface floors featuring a range of quality styles and on-trend designs. LL Flooring's online tools also help empower customers to find the right solution for the space they've envisioned. LL Flooring's extensive selection includes waterproof hybrid resilient, waterproof vinyl plank, solid and engineered hardwood, laminate, bamboo, porcelain tile, and cork, with a wide range of flooring enhancements and accessories to complement, as well as carpet in select stores. LL Flooring stores are staffed with flooring experts who provide advice, Pro partnership services and installation options for all of LL Flooring's products, the majority of which is in stock and ready for delivery.

Forward Looking Statements

Certain information in this press release may constitute "forward-looking statements" within the meanings of the Private Securities Litigation Reform Act of 1995, including but not limited to, the asset purchase agreement and the Chapter 11 proceedings and any other statements that refer to our expected, estimated or anticipated future results or that do not relate solely to historical facts. These statements, which may be identified by words such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "assumes," "believes," "thinks," "estimates," "seeks," "predicts," "could," "projects," "targets," "potential," "will likely result," and other similar terms and phrases, are based on the beliefs of the Company’s management, as well as assumptions made by, and information currently available to, the Company’s management as of the date of such statements. These statements are subject to risks and uncertainties, all of which are difficult to predict and many of which are beyond the Company’s control, including, among other things, the following: the outcome of our contingency planning and restructuring activities; settlement discussions or negotiations; the Company’s liquidity, financial performance, cash position and operations; the Company’s strategy; risks and uncertainties associated with Chapter 11 proceedings; the negative impacts on the Company’s businesses as a result of filing for and operating under Chapter 11 protection; the time, terms and ability to confirm a sale of the Company’s businesses under Section 363 of the U.S. Bankruptcy Code; the Company’s ability to obtain Bankruptcy Court approval with respect to motions in the Chapter 11 proceedings; the Bankruptcy Court rulings in the Chapter 11 proceedings and the outcome of the proceedings in general; the adequacy of the capital resources of the Company’s businesses and the difficulty in forecasting the liquidity requirements of the operations of the Company’s businesses; the unpredictability of the Company’s financial results while in Chapter 11 proceedings; the Company’s ability to discharge claims in Chapter 11 proceedings; negotiations with the holders of the Company’s indebtedness and its trade creditors and other significant creditors; risks and uncertainties with performing under the terms of any arrangement with lenders or creditors while in Chapter 11 proceedings; the Company’s ability to conduct business as usual; any challenges and risks associated with the Company continuing to operate and manage its business under Chapter 11 protection, including the provision of any transition services to the purchaser and any risks to the Company’s remaining estate; the Company’s ability to continue to serve customers, suppliers and other business partners at the high level of service and performance they have come to expect from the Company; the Company’s ability to continue to pay employees, suppliers and vendors; the ability to control costs during Chapter 11 proceedings; adverse litigation; the risk that the Company’s Chapter 11 cases may be converted to cases under Chapter 7 of the Bankruptcy Code; the Company’s ability to secure operating capital; the Company’s ability to take advantage of opportunities to acquire assets with upside potential; the Company’s ability to execute on its strategic plan to pursue, evaluate and close an asset sale of the Company’s businesses pursuant to Section 363 of the U.S. Bankruptcy Code; our inability to maintain compliance with financial covenants and operating obligations which would expose us to potential events of default under our outstanding indebtedness; our ability to incur additional debt or equity financing for working capital, capital expenditures, business development, debt service requirements, acquisitions or general corporate or other purposes; a significant reduction in our short-term or long-term revenues which could cause us to be unable to fund our operations and liquidity needs or repay indebtedness; and supply chain interruptions or difficulties. Therefore, the reader is cautioned not to rely on these forward-looking statements.

The Company specifically disclaims any obligation to update these statements, which speak only as of the dates on which such statements are made, except as may be required under the federal securities laws. For a discussion of other risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see the "Risk Factors" section of the Company’s annual report on Form 10-K for the year ended December 31, 2023, and the Company’s other filings with the Securities and Exchange Commission. Such filings are available on the SEC’s website at www.sec.gov and the Company’s Investor Relations website at https://investors.llflooring.com.

https://www.businesswire.com/news/home/20240906798892/en/LL-Flooring-Signs-Agreement-with-F9-Investments-for-Going-Concern-Sale-of-Business

Notice of Service Notice of Liquidation Pivot. Filed by LL Flooring Holdings, Inc. (8/30/24)

https://cases.stretto.com/public/x352/13019/PLEADINGS/1301908302480000000043.pdf

Source: Stretto [Docket 168]

Order Granting Medley LLC Liquidating Trust's Motion Pursuant to 11 U.S.C. § 105(a) and Federal Rule of Bankruptcy Procedure 9019 to Approve Settlement with Certain Insurance Companies (9/03/24)

https://www.veritaglobal.net/medley/document/2110526240903000000000001

Source: Verita Global [Docket 715]

NexPoint Alerts United Development Funding IV (UDF IV) Shareholders to Current Board's Red Flags, Including Track Record of Fraud and Value Destruction (9/03/24)

Urges Shareholders to Vote for Board Change by Supporting NexPoint Nominees

DALLAS, Sept. 3, 2024 /PRNewswire/ -- NexPoint Real Estate Opportunities, LLC (together with its affiliates "NexPoint") announced today that it has sent a letter to fellow shareholders of United Development Funding IV ("UDF IV" or the "Company"), a real estate investment trust, ahead of the Company's upcoming Annual Meeting of Shareholders, which must be held on or before December 31, 2024.

In its letter, NexPoint urges shareholders to consider the numerous red flags around UDF IV's current Board of Trustees before voting in the Trustee election. Given the incumbent Trustees' track record on the Board, which includes presiding over fraud and value destruction, among other offenses, NexPoint encourages shareholders to vote for change by supporting NexPoint nominees: Paul S. Broaddus, Edward N. Constantino, John A. Good, and Julie Silcock.

Shareholders can read the full letter here.

While the Company has not announced an Annual Meeting date, shareholders can vote TODAY using NexPoint's GREEN proxy materials to enact long overdue change and elect Trustees who will work for all shareholders to maximize value at UDF IV.

NexPoint encourages shareholders to visit udfaccountability.com and complete the contact form to receive ongoing updates about the Company and the upcoming Annual Meeting.

Shareholders can also contact NexPoint via email at udfinvestors@nexpoint.com.

About NexPoint

NexPoint Real Estate Opportunities, LLC is a wholly owned subsidiary of NexPoint Diversified Real Estate Trust, Inc. (NYSE: NXDT), an affiliate of NexPoint Advisors, L.P.

NexPoint Advisors, L.P. is an SEC-registered adviser on the NexPoint alternative investment platform. It serves as the adviser to a suite of funds and investment vehicles, including a closed-end fund, interval fund, business development company, and various real estate vehicles. For more information visit www.nexpoint.com

IMPORTANT INFORMATION

NexPoint Real Estate Opportunities, LLC ("NexPoint") intends to deliver a proxy statement with respect to its solicitation of proxies for nominees to be elected to the United Development Funding IV ("UDF IV") Board of Trustees at the Annual Meeting of Shareholders of UDF IV. The date for the Annual Meeting has not yet been set and NexPoint is not soliciting proxies at this time. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE NEXPOINT PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) WHEN AVAILABLE IN ITS ENTIRETY BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. Copies of the documents will be made available free of charge from NexPoint by accessing the website www.udfaccountability.com.

NexPoint, its affiliates, their directors and executive officers and other members of management and employees may be participants (collectively "Participants") in the solicitation of proxies by NexPoint. Information about NexPoint's nominees to the UDF IV Board of Trustees and information regarding the direct or indirect interests in UDF IV, by security holdings or otherwise, of NexPoint, the other Participants and NexPoint's nominees will be available in the proxy statement. NexPoint's disclosure of any security holdings will be based on information made available to NexPoint by such Participants and nominees. UDF IV is no longer subject to the reporting requirements of the Securities Exchange Act of 1934, as amended. Consequently, NexPoint's knowledge of significant security holders of UDF IV and as to UDF IV itself is limited.

CONTACT INFORMATION

UDF IV Investor Contacts
Chuck Garske / Jeremy Provost / Theo Caminiti (Okapi Partners):
Email: info@okapipartners.com
Phone: (212) 297-0720

For Additional Information/Updates on UDF IV
Website: www.udfaccountability.com
Email: udfinvestors@nexpoint.com

Media Contacts
Lucy Bannon (NexPoint): lbannon@nexpoint.com
Paul Caminiti/Pamela Greene (Reevemark): nexpointteam@reevemark.com

NexPoint Investor Relations
Kristen Thomas: ir@nexpoint.com

https://www.prnewswire.com/news-releases/nexpoint-alerts-united-development-funding-iv-udf-iv-shareholders-to-current-boards-red-flags-including-track-record-of-fraud-and-value-destruction-302236961.html

MIND Technology Announces Approval of Preferred Stock Proposal (8/29/24)

THE WOODLANDS, Texas, Aug. 29, 2024 /PRNewswire/ -- MIND Technology, Inc. ("MIND" or the "Company") (Nasdaq: MIND; MINDP) reconvened its virtual special meeting (the "Special Meeting") of holders of its 9% Series A Cumulative Preferred Stock (the "Preferred Stock") today at 9:00 a.m., Central Time. The Special Meeting was held to approve an amendment to the Certificate of Designations, Preferences and Rights of the Preferred Stock, which provides that each share of Preferred Stock may be converted into 3.9 shares of the Company's common stock, $0.01 par value per share, at the sole discretion of the Company's Board of Directors (the "Preferred Stock Proposal"). At the reconvened meeting, the votes in favor of the Preferred Stock Proposal represented more than two-thirds of the outstanding shares of Preferred Stock and therefore the proposal was approved.

With the passage of the Preferred Stock Proposal, the Company's Board of Directors may effect the conversion of the Preferred Stock into common stock by filing the amendment to the Certificate of Designations, Preferences and Rights of the Preferred Stock with the Delaware Secretary of State at any time prior to October 31, 2024. The Company expects its Board of Directors to consider the merits of the conversion and act promptly.

Rob Capps, President and CEO of MIND, stated, "This approval is an important and exciting step for MIND. I believe the conversion, should the Board choose to effect it, will provide much needed flexibility which will enable us to provide meaningful value to all our stakeholders. We appreciate the strong support we received from our preferred stockholders. Of the votes received, approximately 89% were in favor of the proposal," concluded Capps.

About MIND Technology

MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit designs, manufactures, and sells specialized, high performance, marine exploration and survey equipment.

https://www.prnewswire.com/news-releases/mind-technology-announces-approval-of-preferred-stock-proposal-302234114.html

No argument from me. Common shareholders will be wiped out.

For those who have not taken the time for read my profile:

Investment Philosophy: (1) Relatively unpopular large companies (2) Bargain issues; and (3) Workouts

None one should ever expect a "pump and dump" from me.

However, I will continue to post information from dockets and news sources. Some Chapter 11 and Chapter 7 cases I have been involved in have lasted a decade or more, and there are posts that far back.

Limited Objection of Chicken Soup for the Soul, LLC to HPS Investment Partners, LLCs Motion for Relief from the Automatic Stay (related document(s)243) Filed by Chicken Soup for the Soul, LLC (8/28/24)

Source: PACER [Docket 284]

Omnibus Objection to (I) Application of the Strategic Review Committee and the Debtors for Authorization to Employ and Retain Pachulski Stang Ziehl & Jones LLP as Chapter 11 Counsel Effective as of June 28, 2024 Through and Including July 10, 2024 and (II) Application of the Chapter 7 Trustee for an Order Authorizing the Retention of Pachulski Stang Ziehl & Jones LLP as Special Litigation and Transactional Counsel to the Chapter 7 Trustee Effective as of July 11, 2024 (related document(s)225, 226) Filed by Chicken Soup for the Soul, LLC, William Rouhana (8/28/24)

Chicken Soup for the Soul, LLC is a non-debtor indirect parent company and creditor of Chicken Soup for the Soul Entertainment, Inc.

Source: PACER [Docket 283]

MIND Technology Reminds Preferred Stockholders To Vote Proxies (8/05/24)

THE WOODLANDS, Texas, Aug. 5, 2024 /PRNewswire/ -- MIND Technology, Inc. ("MIND" or the "Company") (Nasdaq: MIND; MINDP) will reconvene its virtual special meeting (the "Special Meeting") of holders of its 9% Series A Cumulative Preferred Stock (the "Preferred Stock") on Thursday, August 29, 2024 at 9:00 a.m. Central Time. The Special Meeting is being held to approve an amendment to the Certificate of Designations, Preferences and Rights of the Preferred Stock, which provides that each share of Preferred Stock may be converted into 3.9 shares of the Company's common stock, $0.01 par value per share, at the sole discretion of the Company's Board of Directors (the "Preferred Stock Proposal"). Preferred stockholders have previously approved a proposal to adjourn the Special Meeting one or more times to give the Company's management additional time to solicit additional proxies to approve the Preferred Stock Proposal. Given the length of the adjournment, a new record date of Tuesday, July 16, 2024 was established for the Special Meeting.

The Company filed a revised proxy statement with the Securities and Exchange Commission (the "SEC") on July 22, 2024 and distributed such proxy to holders of record as of July 16, 2024 who will be eligible to vote at the Special Meeting. Previously voted proxies are no longer valid.

Rob Capps, President and CEO of MIND, stated, "We understand that the new meeting date creates some confusion since previously cast proxies are no longer valid and must be voted again. If you executed a proxy prior to July 16, 2024, that proxy is no longer valid, and you must vote again. If you have not yet received the revised proxy statement, please contact your broker or other nominee for instructions on how to vote. We encourage all holders of Preferred Stock as of July 16, 2024 to vote in favor of the Preferred Stock Proposal," concluded Capps.

You may obtain additional information from our information agent at the following:

Alliance Advisors, LLC
200 Broadacres Dr.
Bloomfield, NJ 07003
Call: 833-795-8497
E-mail: MIND@AllianceAdvisors.com

Additionally, you may find further information regarding the Preferred Stock Proposal on the Company's web site at the following:

PowerPoint Presentation (mind-technology.com)

About MIND Technology

MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit designs, manufactures, and sells specialized, high performance, marine exploration and survey equipment.

https://www.prnewswire.com/news-releases/mind-technology-reminds-preferred-stockholders-to-vote-proxies-302213199.html

Carlyle Credit Income Fund Announces Private Placement of Convertible Preferred Shares and Registered Direct Placement of Common Shares (8/27/24)

Carlyle Credit Income Fund (the “Fund”) (NYSE: CCIF), an externally managed closed-end fund focused on investing in primarily equity and junior debt tranches of collateralized loan obligations, has entered into a Purchase Agreement with certain institutional investors for the purchase and sale of approximately 11,517 shares of the Fund’s 7.125% Series B Convertible Preferred Shares due August 2029 (the “Convertible Preferred Shares”), liquidation preference $1,000.00 per share. The Fund expects to receive net proceeds (before expenses) from the sale of the Convertible Preferred Shares of approximately $10.6 million. The offering is expected to close on or about August 27, 2024, subject to the satisfaction of customary closing conditions.

The Convertible Preferred Shares pay a quarterly dividend at a fixed annual rate of 7.125% of the liquidation preference, or $71.25 per share, per year.

The Fund is required to redeem, out of funds legally available therefor, all outstanding Convertible Preferred Shares on August 27, 2029, or the “Term Redemption Date,” at a price equal to the liquidation preference plus an amount equal to accumulated but unpaid dividends and distributions, if any, on such shares (whether or not earned or declared, but excluding interest on such dividends) to, but excluding, the Term Redemption Date.

At any time on or after February 27, 2025, at the Fund’s sole option, the Fund may redeem, from time to time, the Convertible Preferred Shares in whole or in part, out of funds legally available for such redemption, at a price per share equal to the sum of the liquidation preference plus an amount equal to accumulated but unpaid dividends, if any, on such shares (whether or not earned or declared, but excluding interest on such dividends) to, but excluding, the date fixed for such redemption.

Each holder of a Convertible Preferred Share shall have the right, at such holder’s option, to convert any such Convertible Preferred Share, at any time on or after the date six months after the issuance date of the Convertible Preferred Share (the “Convertibility Date”) and prior to the close of business on the business day immediately preceding the Term Redemption Date, into such number of common shares of beneficial interest (“Common Shares”) equal to the liquidation preference of the Convertible Preferred Share plus an amount equal to all unpaid dividends and distributions on such Share accumulated to (but excluding) the date of exercise, divided by the Conversion Price. The “Conversion Price” is the greater of (i) the market price per Common Share, the average official closing price for the five (5) trading days immediately prior to the date of exercise, or (ii) the Fund’s most recently reported net asset value per Common Share immediately prior to the date of exercise.

The Convertible Preferred Shares will not be listed on any exchange and may not be transferred without the consent of the Fund.

Additional information regarding the Convertible Preferred Shares is included in a Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission (“SEC”).

The Convertible Preferred Shares were offered directly to the purchasers without a placement agent, underwriter, broker or dealer.

The Convertible Preferred Shares and the Common Shares into which the Convertible Preferred Shares are convertible are being issued in reliance upon an exemption from registration under the Securities Act of 1933 (the “Securities Act”) and have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.

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

Concurrently, the Fund has entered into a Purchase Agreement with certain institutional investors for the purchase and sale of Common Shares in a registered direct placement pursuant to the Fund’s effective shelf registration statement filed with the SEC. The Fund has agreed to sell 1,444,865 Common Shares at a price of $7.9592 per Common Share. The offering is expected to close on or about June 30, 2022, subject to the satisfaction of customary closing conditions. The Fund expects to receive net proceeds (before expenses) from the sale of Common Shares of approximately $11.5 million.

The Common Shares were offered directly to the purchasers without a placement agent, underwriter, broker or dealer.

The offering of Common Shares may be made only by means of a prospectus.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Fund carefully before investing. The prospectus supplement, dated August 26, 2024, and accompanying prospectus, dated September 23, 2023, each of which has been filed with the SEC, contain a description of these matters and other important information about the Fund and should be read carefully before investing.

Copies of the prospectus supplement and accompanying prospectus may be obtained by emailing investorrelations @.

Investors may also obtain these documents free of charge from the SEC’s website at www.sec.gov.

The information in the prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

The Fund intends to use the net proceeds from the offerings to acquire investments in accordance with our investment objectives and strategies, to make distributions to our shareholders and for general working capital purposes.

About Carlyle Credit Income Fund

Carlyle Credit Income Fund (NYSE: CCIF) is an externally managed closed-end fund focused on investing in primarily equity and junior debt tranches of collateralized loan obligations (“CLOs”). The CLOs are collateralized by a portfolio consisting primarily of U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors. CCIF is externally managed by Carlyle Global Credit Investment Management L.L.C. (“CGCIM”), an SEC-registered investment adviser and wholly owned subsidiary of Carlyle. CCIF draws upon the significant scale and resources of Carlyle as one of the world's largest CLO managers.

Web: www.carlylecreditincomefund.com

Permian Basin Royalty Trust Announces August Cash Distribution (8/20/24)

DALLAS, Aug. 20, 2024 /PRNewswire/ -- Argent Trust Company, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT) ("Permian" or the "Trust") today declared a cash distribution to the holders of its units of beneficial interest of $0.051902 per unit, payable on September 16, 2024, to unit holders of record on August 30, 2024. The distribution does not include proceeds from the Waddell Ranch properties for the current month but does include the proceeds from July in the amount of $1,508,873. More information regarding the Waddell Ranch properties is described below.

This month's distribution decreased from the previous month due mainly to the July proceeds being less than the June proceeds from Waddell Ranch properties and, for the Texas Royalty Properties, lower gas volumes and oil prices, slightly offset by higher oil volumes and gas prices for the month reported.

WADDELL RANCH

Notwithstanding requests from the Trustee to Blackbeard Operating, LLC ("Blackbeard"), the operator of the Waddell Ranch properties, and the fact that prior to May 2024, Blackbeard has provided this information on a monthly basis since Argent Trust Company has become Trustee of the Trust, Blackbeard has refused to provide the Trustee information necessary to calculate the net profits interest ("NPI") proceeds for July 2024 as of the announcement date for this month's distribution. As a result of Blackbeard's failure to provide this information by the NYSE notification date for the distribution, in accordance with the Trust indenture, if NPI proceeds are received from the Waddell Ranch properties on or prior to the record date, they will be included in the August distribution, rather than the July distribution. As noted above, proceeds of $1,508,873 received by the Trustee in July 2024 after the announcement date for the July distribution will be included in the August distribution. The Trustee has continued to request information from Blackbeard, including production and pricing information, however, there can be no assurances that additional information will be forthcoming or on what time frame.

TEXAS ROYALTY PROPERTIES

Production for the underlying Texas Royalty Properties was 16,295 barrels of oil and 5,722 Mcf of gas. The production for the Trust's allocated portion of the Texas Royalty Properties was 14,513 barrels of oil and 5,101 Mcf of gas. The average price for oil was $77.62 per bbl and for gas was $11.27, which includes significant NGL pricing, per Mcf. This would mainly reflect production and pricing in May for oil and April for gas. These allocated volumes were impacted by the pricing of both oil and gas. This production and pricing for the underlying properties resulted in revenues for the Texas Royalty Properties of $1,329,226. Deducted from these revenues were taxes and expenses of $141,804, resulting in a Net Profit of $1,187,422 for August. With the Trust's Net Profit Interest (NPI) of 95% of the Underlying Properties, this would result in a net contribution by the Texas Royalty Properties of $1,128,051 to this month's distribution.

General and Administrative Expenses deducted for the month, net of interest earned were $217,800 resulting in a distribution of $2,419,132 to 46,608,796 units outstanding, or $0.051902 per unit.

The worldwide market conditions continue to affect the pricing for domestic production. It is difficult to predict what effect these conditions will have on future distributions.

Trust Litigation. On May 8, 2024, the Trustee announced that it had initiated a lawsuit by filing a petition in the District Court of Tarrant County, Texas against Blackbeard Operating, LLC ("Blackbeard"), the operator of properties in the Waddell Ranch, in Crane County, Texas, in which the Trust holds a 75% net overriding royalty. On June 10, 2024, Blackbeard filed its original answer and counterclaim to the lawsuit. The parties are currently engaged in discovery, and the District Court of Tarrant County has set a preliminary trial date of April 21, 2025, 8:30 a.m., Central Time.

Pursuant to the petition, the Trustee seeks to recover more than $15 million in damages to the Trust resulting from overhead costs and other expenses the Trustee alleges were impermissibly deducted from royalty payments to the Trust. The Trustee routinely engages in audits of the revenues and expenses with respect to the Trust's royalty payments. In connection with its audit for the period from 2020-2022 the Trustee identified exceptions to certain expenses deducted from the Trust's royalty payments, including among other things, incorrect overhead charges, application of overhead charges to non-producing wells, duplicate charges for services, materials and utilities as well as other expenses the Trustee alleges are ineligible charges. Attempts to resolve the disputed charges outside of court have been unsuccessful to date. Included in Blackbeard's original answer and counterclaim are requests for declaratory judgment by the court that it may deduct certain disputed overhead charges from Trust royalty payments and that it may limit information it provides to the Trust to quarterly statements of the net proceeds computation and inspection of books and record during normal business hours.

The 2023 Annual Report with Form 10-K, which includes the December 31, 2023, Reserve Summary, is posted on Permian's website. Permian's cash distribution history, current and prior year financial reports, tax information booklets, and a link to filings made with the Securities and Exchange Commission, all can be found on Permian's website at http://www.pbt-permian.com/. Additionally, printed reports can be requested and are mailed free of charge.

Contact: Jana Egeler, Vice President, Argent Trust Company, Trustee, Toll Free – 1.855.588.7839

https://www.prnewswire.com/news-releases/permian-basin-royalty-trust-announces-august-cash-distribution-302225402.html

Texas Pacific Land Corporation Acquires Permian Mineral Interests and Surface Acreage in Cash Transactions (8/27/24)

Acquisitions Add High-Quality Assets that are Expected to Generate Attractive Returns

DALLAS--(BUSINESS WIRE)--Texas Pacific Land Corporation (NYSE: TPL) (the “Company” or “TPL”) today announced the closing of two acquisitions for oil and gas mineral interests and surface acreage located in the Permian Basin for an aggregate $169 million in cash.

TPL acquired mineral interests across approximately 4,106 net royalty acres located in Culberson County, Texas. The acquired mineral interests overlap existing TPL royalty acreage in current and anticipated Drilling and Spacing Units (“DSU”), enhancing TPL’s net revenue interests in existing and future oil and gas wells. The acreage is leased to and operated by Coterra Energy (NYSE: CTRA). In addition, the acquired mineral interests overlap with TPL surface acreage.

The acquired surface asset spans approximately 4,120 acres in Martin County, Texas and is strategically located in the core of the Midland Basin. The asset generates numerous revenue streams across water supply, produced water disposal, and multiple other surface-related activities, including royalties from a solids waste landfill owned and operated by Waste Connections, Inc. (NYSE: WCN), and possesses significant additional commercial growth opportunities.

“Acquiring high-quality mineral interests in the northern Delaware Basin and strategic surface acreage in the Midland Basin will immediately contribute to TPL’s free cash flow,” said Tyler Glover, Chief Executive Officer of the Company. “The combined asset purchase price implies a greater than 13% 2025 free cash flow yield at current strip prices giving credit to only existing production and line-of-sight wells and opportunities. These bolt-on transactions, in addition to the cash flow currently generated, have excellent growth qualities commensurate with TPL’s legacy portfolio. By owning overlapping and nearby surface and water assets, we believe we can accelerate development and generate incremental value. Both assets were sourced through our industry and professional networks and were not part of a broad marketed process. These type of premium assets located within the core subregions of the Permian Basin represent the growth opportunities available to TPL that can provide a substantial incremental value driver to our legacy asset base.”

About Texas Pacific Land Corporation

Texas Pacific Land Corporation is one of the largest landowners in the State of Texas with approximately 873,000 acres of land in West Texas, with the majority of its ownership concentrated in the Permian Basin. The Company is not an oil and gas producer, but its surface and royalty ownership provide revenue opportunities throughout the life cycle of a well. These revenue opportunities include fixed fee payments for use of our land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and/or treated produced water, revenue from our oil and gas royalty interests, and revenues related to saltwater disposal on our land. The Company also generates revenue from pipeline, power line and utility easements, commercial leases and temporary permits related to a variety of land uses including midstream infrastructure projects and hydrocarbon processing facilities.

Visit TPL at http://www.TexasPacific.com.

Linked to map

https://www.businesswire.com/news/home/20240827099522/en/

How Chicken Soup for the Soul entangled a titan of private credit (8/24/24)

https://www.ft.com/content/48306f95-cf86-4634-af24-ca4372ab60df

Meeting of Creditors held 8/20/24.

The Debtors were not represented by management or counsel.

Trustee Miller stated that he was unable to access bank accounts at this time. The case is currently in a standstill until he works either out an agreement with secured lender HPS Investment Partners or the Court gives him authority to deal with assets.

Kiosks must stay put for now.

I'll take early every time.

This scene from Moneyball comes to mind if I was an insider.

Clip

Billy Beane: Would you rather get a bullet to the head, or five to the chest and bleed to death?

Proxy Statement and Letter received.

I have been investing since December 1982 and never recall receiving a proxy statement so far in advance. The meeting is scheduled for 12/31/24 at noon ET.

A couple of things comes to mind... Who schedules a shareholder meeting for New Year's Eve? I guess everyone connected with UDF wants to keep their roles for as long as possible? Or maybe they are hoping people forget to vote by 12/30/24?

RHDGF liquidated at $0.16 per share (8/20/24).

The clock continues to tick…

UGE International Ltd. Announces Closing of Plan of Arrangement (8/16/24)

Toronto, Ontario–(Newsfile Corp. – August 16, 2024) – UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) (the “Company” or “UGE“) is pleased to announce the closing of the previously announced plan of arrangement (the “Arrangement“) pursuant to which 1000896425 Ontario Ltd. (the “Purchaser“), an affiliate of NOVA Infrastructure Fund II, LP, acquired, with an effective date of August 15, 2024 (the “Effective Date“) all of the issued and outstanding common shares of the Corporation (the “Common Shares“) for C$2.00 per Common Share (the “Consideration“), other than Common Shares held by certain management representatives and shareholders of the Corporation (the “Rolling Shares“) which Rolling Shares were rolled over into the private entity that will carry on the business of the Company. The Arrangement was approved by the Company’s shareholders (the “Shareholders“), holders of the Company’s compensation warrants (the “Warrantholders“) and holders of the Company’s convertible debentures (the “Debentureholders“, and collectively with the Shareholders and Warrantholders, the “Securityholders“) on July 31, 2024 and by the Superior Court of Justice (Commercial List) on August 6, 2024.

With the Arrangement now complete, the Common Shares will be halted from trading on the TSX Venture Exchange (the “TSX-V“) and UGE intends to cause the Common Shares to be delisted from the TSX-V and OTC Markets as soon as reasonably practicable. In connection therewith, UGE intends to submit an application to the applicable securities regulators to cease to be a reporting issuer and to terminate its public reporting obligations.

As at the Effective Date: (i) each Shareholder is entitled to receive the Consideration per Common Share; (ii) each Warrantholder is entitled to receive the balance of the Consideration and the exercise price of their respective compensation warrant; and (iii) each Debentureholder is entitled to receive the Consideration per Common Share they hold after giving effect to the conversion of their convertible debentures (inclusive of principal and interest accrued thereon). To receive their respective Consideration, registered Shareholders, Warrantholders and Debentureholders must surrender the certificates representing their UGE securities together with a duly completed and corresponding executed Letter of Transmittal to TSX Trust. The Letter of Transmittal was mailed to UGE Securityholders with UGE’s management information circular dated June 28, 2024. The Letters of Transmittal, applicable to each Securityholder, is for use by registered Securityholders only and is not to be used by beneficial holders of Common Shares (“Beneficial Shareholders“). A Beneficial Shareholder does not hold Common Shares in its name but such shares are held by an intermediary such as a brokerage firm, or clearing agency such as CDS. If you are a Beneficial Shareholder, your intermediary will submit the required documentation in order to receive your consideration.

A copy of the Purchaser’s early warning report will be filed on the Corporation’s profile on SEDAR+ at www.sedarplus.ca and available upon request by contacting Chris Beall at +1 646 889 8100.

About UGE International Ltd.

UGE develops, owns, and operates community and commercial solar & battery storage projects. Our distributed energy solutions provide cheaper, cleaner energy to businesses and households throughout the United States. With over 500 megawatts of project experience, UGE is working daily to make renewable energy accessible and affordable for all. Visit us at www.ugei.com. For more information, contact UGE:

Nick Blitterswyk – investors@ugei.com or +1 917 720 5685.

About NOVA Infrastructure

Founded in 2018, NOVA Infrastructure (http://www.novainfra.com) is a value-added, middle market infrastructure investment firm focused on North America. NOVA seeks to make investments that pair the downside protection features of the infrastructure asset class with operationally focused, value-added upside strategies. NOVA targets investments in environmental services, transportation, energy / energy transition, and digital sectors.

Ellen DeGiusti – edegiusti@sloanepr.com.

No argument from me.

Just sharing some of their propaganda.

First Financial Northwest, Inc. Announces Receipt of Federal Deposit Insurance Corporation Approval for Transaction with Global Credit Union (8/12/24)

First Financial Northwest, Inc. (the “Company”) (NASDAQ GS: FFNW), the holding company for First Financial Northwest Bank (the “Bank”), announced today that they received the required regulatory approval from the Federal Deposit Insurance Corporation (“FDIC”) for Global Federal Credit Union (“Global”) to acquire substantially all of the assets and assume substantially all of the liabilities (including deposit liabilities) of the Bank (the “Asset Sale”), on the terms and subject to the conditions of the Purchase and Assumption Agreement, dated as of January 10, 2024, by and among the Company, the Bank and Global. The Company previously announced that the Bank had received approval from the Washington State Department of Financial Institutions. The Company shareholders approved the transaction at a special meeting of shareholders held on July 19, 2024.

The consummation of the Asset Sale remains subject to Global receiving the required regulatory approval from the National Credit Union Administration (“NCUA”), which has not yet been obtained. The Company cannot provide any assurance as to whether the required final regulatory approval from the NCUA will be received, when such approval will be received, or whether there will be conditions to such approval that are unacceptably burdensome to the Company or Global.

First Financial Northwest, Inc. is the parent company of First Financial Northwest Bank; an FDIC insured Washington State-chartered commercial bank headquartered in Renton, Washington, serving the Puget Sound Region through 15 full-service banking offices. For additional information about us, please visit our website at ffnwb.com and click on the “Investor Relations” link at the bottom of the page.

For more information, contact:
Joseph W. Kiley III, President and Chief Executive Officer
Rich Jacobson, Executive Vice President and Chief Financial Officer
(425) 255-4400

UDF IV Files Proxy Statement and Mails Letter to Shareholders (8/12/24)

https://cdn.prod.website-files.com/6672de653872fa53a4cbe8e2/66b6cc48d8d7622b928a2022_UDF%20IV%20Files%20Proxy%20Statement%20and%20Mails%20Letter%20to%20Shareholders.pdf

AQN price drops to $5.27 in early trading as it cuts quarterly dividend to $0.065.

Overreaction.

AQN will receive about $1.077 billion for its 42.2% stake in Atlantica and receive up to $2.5 billion from LS Power for the sale of its renewable energy business to LS Power. It will then be a pure-play regulated utility in early-to-mid 2025.

LS Power Agrees to Acquire Large Scale Renewable Energy Business from Algonquin Power & Utilities Corp. (8/09/24)

NEW YORK, Aug. 9, 2024 /PRNewswire/ -- LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector, today announced it has reached an agreement with Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) ("AQN") to acquire its renewable energy business (the "Renewables Business").

The Renewables Business is comprised largely of wind and solar assets located throughout the United States and Canada, including 44 operating assets with more than 3,000 megawatts (MW) of generating capacity and an 8,000 MW pipeline of wind, solar, battery energy storage and renewable natural gas projects in various stages of development.

Approximately 2,700 MW of the portfolio's assets are located in the U.S., across NYISO, MISO, PJM, ERCOT and CAISO markets, with the remaining 300 MW located in Canada.

"This represents a significant strategic investment in and expansion of LS Power's renewable energy portfolio," said Paul Segal, CEO of LS Power. "This business complements our existing fleet of more than 19,000 MW of top-performing renewable, energy storage, flexible gas and renewable fuels projects. We believe this platform will play a significant role in meeting the challenges of rising electric demand and advancing the energy transition."

The Renewables Business will join LS Power's existing portfolio of energy transition platforms, including:

- REV Renewables, a leader in renewable generation and energy storage

- EVgo, a fast-charging network for electric vehicles, powered by 100% renewable energy

- CPower Energy Management, a leading, national distributed energy resource monetization and virtual power plant services business

- Rise Light & Power, New York City's largest generator and developer of clean energy infrastructure including battery storage and offshore wind interconnection

- Primary Renewable Fuels, a leading waste-to-renewable natural gas development and operating platform
- Endurant Energy, a provider of distributed energy infrastructure

- LS Power Transmission, a leading private transmission owner and developer with 780+ miles of high-voltage transmission lines operating and 350+ miles and multiple substations under development or construction

- LS Power Generation, a large scale dispatchable generation platform providing energy, reliability and flexibility to the grid

The transaction is expected to close in Q4 2024 or Q1 2025 and is subject to the satisfaction of customary closing conditions, including the approval of the U.S. Federal Energy Regulatory Commission and approval under applicable competition laws.

Milbank LLP is serving as legal advisor and Scotiabank and BMO Capital Markets Corp. are serving as financial advisors to LS Power on the acquisition.

About LS Power

Founded in 1990, LS Power is a premier development, investment, and operating company focused on the North American power and energy infrastructure sector, with leading platforms across generation, transmission and energy transition solutions. Since inception, LS Power has developed or acquired 47,000 MW of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. Additionally, LS Power Grid has built 780+ miles of high-voltage transmission, with 350+ miles and multiple grid infrastructure projects currently under construction or development. LS Power actively invests in and scales businesses that are accelerating the energy transition, including electric vehicle charging, demand response, distributed energy resources, renewable fuels and other essential energy infrastructure. Over the years, LS Power has raised $59 billion in debt and equity capital to support North American infrastructure. For information, please visit www.LSPower.com.

About Algonquin Power & Utilities Corp. and Liberty

Algonquin Power & Utilities Corp., parent company of Liberty, is a diversified international generation, transmission, and distribution utility with approximately $18 billion of total assets. AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. In addition, AQN owns, operates, and/or has net interests in over 4 GW of installed renewable energy capacity. AQN's common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively. AQN's common shares and Series 2019-A subordinated notes are listed on the New York Stock Exchange under the symbols AQN and AQNB, respectively. Visit AQN at www.algonquinpower.com and follow us on Twitter @AQN_Utilities.

https://www.prnewswire.com/news-releases/ls-power-agrees-to-acquire-large-scale-renewable-energy-business-from-algonquin-power--utilities-corp-302218817.html