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Verizon 5G vendor Casa Systems files for bankruptcy – what went wrong?
April 4, 2024
https://www.sdxcentral.com/articles/news/verizon-5g-vendor-casa-systems-files-for-bankruptcy-what-went-wrong/2024/04/
Robin Raina-led Ebix Inc files for bankruptcy after defaulting on $617 million loan: Report
Story by Business Today Desk
• 5mo
Indian-American Robin Raina-led technology firm Ebix Inc. has filed for bankruptcy protection in a North Texas court after defaulting on a $617 million loan, Bloomberg reported on Monday. Several subsidiaries of Ebix, which also runs a financial transactions and remittances company Ebixcash in India, have also filed for bankruptcy, the report said citing a court filing. The law firm Sidney Austin LLP has been assigned bankruptcy counsel, while Jefferies LLC will act as the investment banker to the proceedings.
Last month, the Atlanta-headquartered firm reported its operating income for Q3 2023 of $20.5 million, down by 32.4 per cent year-over-year from $30.4 million in Q3 2022, "primarily due to certain IPO marketing costs, and restructuring-related costs". Ebix's operating income of $80.1 million for the nine-month ended Q3 2023 decreased by 11.5 per cent as compared to $90.6 million in the nine-month ended Q3 2022.
In an annual report filed in December 2021, Ebix had $656.0 million of outstanding debt obligations, excluding amounts related to deferred financing costs, which consisted of a $212.9 million term loan, a $439.4 million balance on its revolving line of credit under the credit facility, a $1.8 million note due to IHC by the EbixHealth JV, and a $2.0 million short-term debt financing of its large corporate insurance requirements.
https://www.msn.com/en-in/money/topstories/robin-raina-led-ebix-inc-files-for-bankruptcy-after-defaulting-on-617-million-loan-report/ar-AA1lFxG0
The construction of our own natural gas processing plant which will process gas produced from the Pecos Slope Field, is underway. The Pecos Slope Plant will be located approximately 20 miles north of Roswell, New Mexico will produce approximately 2.7 million standard cubic feet (MMscf) of gaseous helium per month or an estimated 32 MMscf per year. The Pecos Slope Plant is expected to commence operations on June 1, 2024. It will also produce 477,000 MCF per month of methane and 32,545 bbls per month of natural gas liquids.
https://www.linkedin.com/company/new-era-helium/
New Era Helium Begins Construction of its Pecos Slope Plant in New Mexico
July 19, 2023
https://www.globenewswire.com/en/news-release/2023/07/19/2707430/0/en/New-Era-Helium-Begins-Construction-of-its-Pecos-Slope-Plant-in-New-Mexico.html
New Era Helium Corp. and Roth CH Acquisition V Co. announce the Filing of an Investor Presentation for the Proposed Business Combination
January 17, 2024
https://www.globenewswire.com/news-release/2024/01/17/2810592/0/en/New-Era-Helium-Corp-and-Roth-CH-Acquisition-V-Co-announce-the-Filing-of-an-Investor-Presentation-for-the-Proposed-Business-Combination.html
4,58 https://ast-science.com/
In the upcoming summer, AST SpaceMobile plans to transport its first batch of five commercial satellites to Cape Canaveral.
Updated: May 17, 2024
https://interestingengineering.com/space/att-first-space-based-broadband
Thunder Bridge Capital Partners IV, Inc. Announces Public Filing of Registration Statement with the SEC for Proposed Business Combination with Coincheck, Inc., a Subsidiary of Japan’s Monex Group
May 07, 2024 13:31 ET | Source: Thunder Bridge Capital Partners IV,
https://www.globenewswire.com/news-release/2024/05/07/2877111/0/en/Thunder-Bridge-Capital-Partners-IV-Inc-Announces-Public-Filing-of-Registration-Statement-with-the-SEC-for-Proposed-Business-Combination-with-Coincheck-Inc-a-Subsidiary-of-Japan-s-M.html
Coincheck, Inc.
Business Description
Cryptocurrency exchange and R&D on new financial services
https://www.monexgroup.jp/en/group_companies/coincheck.html
https://www.monexgroup.jp/en/index.html
May 08,2024 IR
Announcement by Monex Group regarding the public filing etc. of Coincheck Group B.V. to become publicly listed on Nasdaq through a De-SPAC transaction pdf (421KB)
Monex Group, Inc. Manekkusu Guru-pu Kabushiki-gaisha) is a financial services company based in Tokyo, Japan. Monex Inc., its main subsidiary, engages in online securities trading, with approximately 2 million accounts. In 2010, the company integrated its operations by making ORIX Securities Corporation its wholly owned subsidiary through a share exchange. As a result, ORIX Corporation became the largest shareholder with a 22.5% stake and became an equity method affiliate of ORIX Corporation.[2][3] TradeStation, its US subsidiary, provides securities, options, futures and cryptocurrency trading services. The Monex Group acquired Coincheck, which is one of the largest crypto exchanges in Japan, in April 2018.
Monex Group - Wikipedia https://en.wikipedia.org/wiki/Monex_Group
....a state-of-the-art movie studio complex planned for the 60-acre site....
Connecticut entertainment company Infinite Reality will be the primary tenant.
April 25, 2024
https://www.miamiherald.com/news/local/community/broward/article287986530.html
NEW YORK, May 03, 2024 (GLOBE NEWSWIRE) — Infinite Reality (“iR” or the “Company”), a leading global provider of cutting-edge virtual, AI-powered immersive experiences, today announced that its previously announced business combination partner, Newbury Street Acquisition Corporation (Nasdaq: NBST) (“Newbury”), has engaged BTIG, LLC (“BTIG”) as its capital markets advisor.
BTIG has previously advised on similar business combinations including for AST SpaceMobile, Pinstripes Holdings and Vacasa.
Tom Bushey, Chief Executive Officer of Newbury commented, “Partnering with the BTIG team is critical to Newbury’s transaction with iR and the Company’s journey towards becoming a publicly traded company. Their expertise is invaluable to Newbury as iR enters this next phase of growth with a public currency to further expand its immersive technology platform and services.”
The addition of BTIG as capital markets advisor to Newbury comes at an exciting time as Infinite Reality has recently announced multiple strategic acquisitions, including the pending landmark $250 million deal to purchase the Drone Racing League in April, as well as acquisitions of spatial web design pioneer Ethereal Engine and social sports platform Stakes earlier this year. These transactions, which add to the Company’s previous major acquisition of entertainment production company Thunder Studios, bolster iR’s already significant technology capabilities and boost its valuation to $3.5 billion.
Leveraging its unique combination of proprietary technology, content production and marketing capabilities, iR has pioneered immersive augmented and virtual reality experiences that allow fans and consumers to step inside interactive worlds and engage with brands, artists and creators like never before.
John Acunto, Chief Executive Officer of Infinite Reality, commented, “BTIG’s distinguished, proven track record in equity and debt financing solutions will play a crucial role in shaping our capital strategy following the completion of our business combination to effectively scale our operations. Their deep expertise and robust industry presence are key assets that will help guide our financial trajectory and strengthen our market position.”
iR’s financial foundation is further strengthened with BTIG’s robust partnership with Newbury, better positioning the Company after the business combination to continue to execute on its acquisitive strategy, as well as invest in R&D that bolsters its technology stack and drives innovation for blue chip partners which have included brands such as Vodafone, Warner Bros. Discovery, T-Mobile, and Google, among others.
BTIG joins a strong roster of partners advising and working alongside iR as the Company pursues its capital markets strategy, including leading strategic communications and advisory firm, ICR.
For more information on Infinite Reality, please visit theinfinitereality.com.
About Infinite Reality
Infinite Reality (“iR”) is an innovative technology and entertainment company specializing in the development of cutting-edge, AI-powered immersive experiences. iR’s immersive experiences enable brands and creators to fully control the ways in which they distribute content, engage audiences, and commercialize their creations while also giving them ownership over their data. With its deep expertise in Hollywood production, iR develops immersive experiences that maximize the value between brands, content, and audiences and redefine the possibilities in connected digital environments.
About Newbury Street Acquisition Corporation
Newbury Street Acquisition Corporation (“NBST”) is a special purpose acquisition blank check company (“SPAC”) whose business purpose is to effect formed for the purpose of entering into a merger, capital stock or share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. NBST is sponsored by Newbury Street Acquisition Sponsor LLC. NBST is led by Thomas Bushey, Chief Executive Officer and Kenneth King, Chief Financial Officer. NBST’s Directors include Jennifer Vescio (Chief Business Development Officer at Uber), Matthew Hong (Former COO of Turner Sports), and Teddy Zee (Former EVP of Columbia Pictures). Additionally, the NBST’s Advisors include Ted Seides (Capital Allocators) and Katie Soo (Former HBO Max and WB) and Maurice Koo (Rockpool Capital).
About BTIG
BTIG is a global financial services firm specializing in institutional trading, investment banking, research and related brokerage services. With an extensive global footprint and more than 700 employees, BTIG, LLC and its affiliates operate out of 20 cities throughout the U.S., and in Europe, Asia and Australia. BTIG offers execution, expertise and insights for equities, equity derivatives, ETFs and fixed income, currency and commodities. The firm’s core capabilities include global execution, portfolio, electronic and outsource trading, transition management, investment banking, prime brokerage, capital introduction, corporate access, research and strategy, commission management and more.
Investor Contact:
Brett Milotte, ICR
Brett.Milotte@icrinc.com
https://theinfinitereality.com/infinite-realitys-spac-partner-engages-btig-as-capital-markets-advisor-continues-to-drive-robust-expansion-and-strengthened-market-position/
Lynk Global, Inc. https://lynk.world/
About us
Lynk is a patented, proven, and commercially licensed satellite-direct-to-standard-mobile-phone system. Today, Lynk allows commercial subscribers to send and receive text messages to and from space, via standard unmodified mobile devices. Lynk’s service has been demonstrated in over 25 countries and is currently being deployed commercially, based on 36 MNO commercial service contracts covering approximately 50 countries. Lynk is currently providing cell broadcast (emergency) alerts and two-way SMS messaging and plans to launch voice and mobile broadband services in the future. By partnering with Lynk via a simple roaming agreement, a mobile network operator opens the door to new revenue in untapped markets, gives subscribers peace of mind with ubiquitous connectivity, and provides a potential pathway to economic prosperity for billions
Slam Corp. and Lynk Global, Inc. Announce Definitive Business Combination Agreement
Feb 5, 2024
https://finance.yahoo.com/news/slam-corp-lynk-global-inc-130000145.html
Lynk is a patented, proven, and commercially-licensed satellite-direct-to-standard-mobile-phone system. Today, Lynk allows commercial subscribers to send and receive text messages to and from space, via standard unmodified mobile devices. Lynk’s service has been tested and proven in over 25 countries and is currently being deployed commercially, based on 36 MNO commercial service contracts covering approximately 50 countries. Lynk is currently providing cell broadcast (emergency) alerts, and two-way SMS messaging, and intends to launch voice and mobile broadband services in the future. By partnering with Lynk via a simple roaming agreement, a mobile network operator opens the door to new revenue in untapped markets, gives subscribers peace of mind with ubiquitous connectivity, and provides a potential pathway to economic prosperity for billions.
NOTICE OF FILING AND HEARING
NEW SOUTH WALES REGISTRY - FEDERAL COURT OF AUSTRALIA
A1. Extension of the convening period
1 An order pursuant to section 439A(6), or in the alternative section 1322(4), of the Act that
the date of the convening period as defined by section 439A(5) of the Act, for the second
meeting of creditors of the Companies required pursuant to section 439A of the Act
(Second Meeting) be extended up to and including 20 September 2024 or such other
period that the Court considers appropriate.
Convening Period Extension – 9 May 2024
https://kpmg.com/au/en/home/creditors/tritium-group.html#court-documents
ChargeNet unaffected by Tritium situation
by Geoff Dobson
May 6, 2024
https://evsandbeyond.co.nz/chargenet-unaffected-by-tritium-situation/
I am playing this like WKHS was at .75 cents 5 years ago. I did not load at the time.
I see a little champ maybe in 5 years.
A Buy out by Telsa would be moon shot. NOT.
Company is playing in the big leagues. Ticker could go EXPERT trading
Added today Date posted
05/13/2024
Amount
$3,599.00
Description
3600 TRITIUM DCFC LIMITED UNSOLICITED TRADE
Tritium operations "stabilised" as EV players show interest in potential transaction
10 May 2024
https://www.businessnewsaustralia.com/articles/tritium-operations--stabilised--as-ev-players-show-interest-in-potential-transaction.html
Tritium will be an acquisition
"successfully stabilised" and continuing business-as-usual operations.
So far they have received interest from a number of interested entities with established operations in the EV charging and electronic component manufacturing sectors, as well as potential financial sponsors.
"We are very confident the sale process will identify a new owner that can build on this success to date, and capture the opportunity to bring new Tritium products to market and grow the business, under a different capital structure."
NRMA addresses exit of EV charger manufacturer Tritium, which entered voluntary administration in April 2024.
Tritium has announced it will seek a buy out after being placed under voluntary administration in April 2024. The NRMA is working closely with the administrators, to work through a solution for the supply and maintenance of its chargers.
The NRMA’s focus remains on expanding the national EV charging network, jointly funded by the NRMA as well as the federal, NSW and Queensland governments.
What will happen to existing sites with Tritium fast chargers?
Tritium fast chargers currently make up a significant proportion of the NRMA’s charging network. With the earliest of those now reaching their end of life, there are already plans in place to upgrade certain charging locations with units made by other manufacturers.
Newer units and in particular those still under warranty will remain online.
Regarding the upgrade of the older units, there may be grid and space restrictions at certain existing locations that rule out a straight swap of hardware.
07 May, 2024
https://www.mynrma.com.au/electric-vehicles/charging/nrma-charging-plan-tritium
What does CBA do in Australia?
The Commonwealth Bank is Australia's largest retail bank and offers customers a range of products and services, including loans, credit cards, transaction and savings accounts. It has the largest branch and ATM network. It also offers services to people planning to move to Australia.
Commonwealth Bank - Wikipedia https://en.wikipedia.org/wiki/Commonwealth_Bank
CBA Corporate Services NSW which is claiming $199.5 million,
ASX-listed Rectifier Technologies claims $25m debt from collapsed Tritium
8 May 2024
https://www.businessnewsaustralia.com/articles/asx-listed-rectifier-technologies-claims--25m-debt-from-collapsed-tritium.html
According to the first meeting of creditors for Tritium held at the start of this month, Rectifier-affiliated companies Rectifier Technologies Pacific Pty Ltd and Rectifier Technologies Singapore Pte Ltd claimed they were owed $5.23 million and $19.4 million respectively.
Other major creditors to Tritium include Sunset Power as a trustee for the St Baker Family Trust which is claiming $65 million, CBA Corporate Services NSW which is claiming $199.5 million, and GPT Newcastle Development which is claiming $11.8 million, alongside others such as Flextronics Industrial ($13 million), Jiyuan Co ($2.7 million), Syskim International ($1.2 million), Venture Electronics Services Malaysia ($4.4 million) and Click International Hong Kong ($1.3 million).
A second meeting of creditors is due to be held on or before 27 May, unless the court extends the date.
1 day ago This is an active crime scene in progress.
1 day ago
Have any civil or criminal lawsuits started?
8 hours ago
Is it weird that we see no law firm adds here?
1 day ago
I wouldn't touch this stock at all. Lots of us loss money here. Beware
3 May, 2024
So let me get this straight... This company splits its stock 1 for 200 just a month ago and it crashed back down below a buck and was delisted anyway?
2 May, 2024
So that was was it? No communication whatsoever?
30 April, 2024
"Mr Fraser (Receiver of Tritium) said he had received significant inquiries, including from big companies that operate in the sector, and from parties interested in participating in an expedited sale process."
That's not bad news at all.. No one knows the outcome, but if you like a gamble, now's the time..
Laid Off Tesla Supercharger Employee Predicts Network Quality Will “Deteriorate”
8 hours ago
https://www.carscoops.com/2024/05/laid-off-tesla-supercharger-employee-predicts-network-quality-will-deteriorate/
This ought to excite Bp pulse and their 100 million dollar order of Telsa chargers
Guys on another website suggest higher ups want to take Tritium private. And possible delist the ticket. I don't know but the silence from this company is horror to the public investor.
Definitely not NASA rocket science thrill.
Investors have 1 percent of their investment.
Janes actions, investors are calling FRAUD.
Let's see if ticket can bring back my money to 100 percent.
Yeah my 100k shares is 500. At a dollar I bought 1k shares hoping for a 20.00 dollar run. That would bring my money back.
Sitting here @ a dollar is sickness in misery.
It ain't over. I think Tritium is dumping it's Australian liabilities . If a sale is possible I would like to see Ionna, BP pulse or Shell recharge to buy company and merge into shell. That would be a strong hand take over company with billions of muscles to get things done..
Jane said shell was companies nemesis .
Delisting of ticket ain't yet but that would mean total failure on Jane's part.
Crazie money wants things to happen.
Australia-headquartered EV fast-charging company Tritium DCFC has declared insolvency.
May 3, 2024
The company has so far made no public statements regarding the insolvency and whether there are any potential buyers.
https://www.evcandi.com/news/fast-charger-manufacturer-tritium-insolvent
The Tritium Group
Information for creditors of The Tritium Group (in Voluntary Administration).
https://kpmg.com/au/en/home/creditors/tritium-group.html
3 hours ago Most of you may already know this, but there's a shareholder FAQ available if you search for "kpmg" and "tritium".
It outlines that shareholders are considered the same as unsecured creditors. A lot of the process they're going through is to make sure secured creditors are paid back. They're legally required to sell things at market value.
Up next is a meeting of the creditors to vote between three things:
To accept a binding agreement between company and creditors on how the company will be dealt with.
Immediate liquidation.
Return control to company directors
It's scheduled for the time limit of May 20th, but an extension is likely.
Controversial SPAC listing hobbled Tritium
The receivers selling the shell of failed electric vehicle charging company Tritium have blamed its $2 billion listing via the controversial SPAC method for...
.
13 hours ago
https://www.afr.com/technology/controversial-spac-listing-hobbled-tritium-20240424-p5fm7m
It’s still early days, but receivers McGrathNicol are in the process of finding a buyer for Tritium.
Partner Shaun Fraser said a sale process for Tritium’s business and assets had already been under way, and McGrathNicol would engage as a “matter of urgency” with those potential buyers.
“Our immediate focus is to stabilise operations and work closely with Tritium’s employees, customers and suppliers as we attempt to secure the best possible outcome for all parties,” Fraser said in a statement after Tritium’s collapse was announced last week.
Tritium’s rapid rise and spectacular collapse will be a lesson for Labor’s Made in Australia campaign
....In November CEO Jane Hunter said: “While we continue to build on our recently reported financial results, which include achieving record revenue and gross margin, strategic restructuring of our business is necessary to drive both profitability and shareholder value.”
However consolidation in the US and a much vaunted change programme failed to put the company on a path to becoming EBITDA positive.
Most recently it has been fighting NASDAQ to retain its listing which has failed to meet minimum price requirements.
Now it is in financial collapse.
Apr 22, 2024
https://reneweconomy.com.au/tritiums-rapid-rise-and-spectacular-collapse-will-be-a-lesson-for-labors-made-in-australia-campaign/
$DCFCQ This is the email address shareholders are supposed to use for inquiries.
tritiumshareholders@kpmg.com.au
Duh, whats it say....
EV charger manufacturer Tritium declares insolvency
Posted April 22, 2024
https://chargedevs.com/newswire/ev-charger-manufacturer-tritium-declares-insolvency/
The directors of Australian fast charger manufacturer Tritium have declared the company as well as three of its Australian subsidiaries—Tritium, Tritium Holdings and Tritium Nominee—insolvent and called in voluntary administration, according to a statement filed to the US Securities and Exchange Commission (SEC).
“The Company’s other subsidiaries will continue to operate outside the voluntary administration,” the SEC filing stated.
The company stated on April 11 that it had received a warning from the Nasdaq stock exchange in New York where its shares were listed that it no longer met the requirements to retain its listing.
Lenders have appointed a receiver to take control of the company’s assets and seek buyers.