Public Limited Companies – Julia Vinograd http://juliavinograd.com/ Thu, 22 Apr 2021 04:58:35 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.1 https://juliavinograd.com/wp-content/uploads/2021/04/cropped-hh-32x32.png Public Limited Companies – Julia Vinograd http://juliavinograd.com/ 32 32 Update on operations and expansion in North America https://juliavinograd.com/update-on-operations-and-expansion-in-north-america/ Thu, 22 Apr 2021 01:00:00 +0000 https://juliavinograd.com/update-on-operations-and-expansion-in-north-america/

STRONG POINTS

  • SenSen Annual Recurring Income (ARR) of North America to exceed AU $ 1.5M per year through new orders from Chicago Parking Meters and contract renewals from existing customers in the region.
  • Increases SenSen’s current ARR guidelines for ~ AU $ 4.5 million for FY2022 and beyond, on the basis of orders and confirmed contracts in progress.
  • Completed the hiring of key marketing and sales executives to accelerate growth in the region; and additional staff hired to increase key account management and customer support in the region.
  • North American head office opens in Las Vegas, Nevada, equipped with a range of SenSen solutions for demonstrations and sales to customers
  • Established engagements with multiple channel partners to increase sales momentum in the region.
  • SenSen will participate and present at several industry vertical trade shows and conferences in the region over the next six months to support marketing efforts and promote SenSen solutions in the region.

MELBOURNE, SYDNEY and LAS VEGAS, April 21, 2021 / PRNewswire / – Leading provider of software solutions for smart cities and AI SenSen Networks Limited (ASX: SNS, OTCQB: SNNSF, “SenSen” or “the Company“) is pleased to provide an update on its expanding business in the United States.

Revenue and sales

On the back of new orders and contract extensions, SenSen’s ARR from North America crossed AU $ 1.5M, which consists on:

  • Revenues from new orders from Chicago Parking Meters;
  • Renewals and extensions of contracts from the cities of Calgary and Edmonton (Canada);
  • Newly acquired Snap Network Surveillance multi-camera people tracking software customer contract renewals; and
  • Locked in a contract with the City of Las Vegas (Nevada) for the management and enforcement of parking.

This represents strong growth in overall turnover and in particular in the ARR of North America, which currently represents more than a third of the ARR contracted by SenSen (~ AU $ 4.5 million) in FY2022. ARR growth is expected to continue, with the establishment of new channel partner agreements and targeted sales and marketing activities underway.

SenSen’s revenue base in North America now fully funds operations in the United States and Canada, providing a solid platform for organic growth as the U.S. economy resurfaces from the impacts of the COVID-19 shutdown. The stability of SenSen’s North American customers demonstrates a stable and high-referral customer base to further accelerate sales growth in the region.

Chicago Parking Meters

In the American Midwest, SenSen works with Chicago Parking Meters (www.parkchicago.com) to provide parking and traffic analyzes in the City of Chicago (Illinois), the third largest city in the United States. After SenSen successfully completed the POC trial, Chicago Parking Meters ordered several systems from SenSen to improve the efficiency of its on-street parking management operations, which are currently being prepared for deployment in Q4 2021. Additional systems are scheduled for purchase in the next month. These systems are expected to generate both initial and recurring revenue at SenSen.

Snap network monitoring

SenSen received its first round of orders from Snap Network Surveillance (Snap) customers since the acquisition in December 2020. Snap’s AI-powered multi-camera network tracking technology is currently being implemented for customers by the through various resellers – A3 Communications (Caroline from the south), A + Technology (New York City) and Southeast Security (Ohio). SenSen will receive an annual software maintenance fee from these customers.

These new orders are a positive endorsement of the value that Snap technology brings to its customers. SenSen has developed a targeted education and market awareness plan to promote Snap’s multi-camera person tracking and other solutions to this loyal base of partners and end customers, including airports, prisons high security, shopping malls, universities, casinos and law enforcement agencies. .

City of Las Vegas

SenSen has worked extensively with the City of Las Vegas to install Smart City technology on city roads, car parks and garages, as well as to equip a range of municipal vehicles with smart sensors, including scooters and Segways. As part of the gradual deployment of SenSen systems under the contract with the City, several SenSen systems intended to improve the efficiency of on-street and off-street parking management have been put into production in the City of Las Vegas.

Additional systems are expected to go into production in the coming weeks. As previously announced, these systems generate both initial and ongoing income.

SenSen has become an important technology partner of City of Las Vegas. SenSen was recently invited to participate in a paid curbside smart corridor pilot program with the City of Las Vegas in collaboration with Cox Communications (www.cox.com) to explore new avenues to take advantage of SenSen technology.

The pilot’s objective is to use technological solutions to monitor congestion in high traffic areas of the city center. Las Vegas for the next six months with the aim of optimizing the efficiency of all types of transport, in particular passenger cars and taxis. The innovative public-private partnership trial covers six parking spaces along the sidewalk adjacent to the 100 block of Main Street with two digital kiosks that use SenSen’s video analytics and smart parking technology to better manage traffic. curbside loading areas for taxis and carpooling, making conditions safer for visitors and pedestrians.

Video analytics from devices along the sidewalk will capture vehicle and license plate information and send usage data to kiosks to start a countdown. If a vehicle remains in the loading area after the end of the countdown, the system reports the incident directly to the city, ensuring a constant flow of traffic.

US office now open

Under a special grant program, the City of Las Vegas invited SenSen to open its new US office at the Las Vegas International Innovation Center, a high-end site of Las Vegas downtown. The location is offered to businesses, at subsidized rates, who are seen as future disruptors in the tech space that align with City of Las Vegas priorities – including companies operating in IoT (Internet of Things), artificial intelligence, virtual and augmented reality, cybersecurity, water science and advanced mobile data.

At the end of March, SenSen opened its new office, which includes a showroom / demo area for marketing to potential Smart Cities and games customers. SenSen will benefit from a Las Vegas as the world’s leading convention city and global business organizer. The city’s favorable political environment and growing emphasis on innovation make it an ideal place to test and develop new SenSen technologies.

Recruitment of new employees in the region

Following the success of SenSen $ 7.15M capital increase for international expansion in January 2021, SenSen has completed the recruitment of several senior executives to accelerate sales and marketing in North America, comprising:

  • Senior sales executive focused on the casino market;
  • Senior sales manager focused on the security and surveillance market;
  • Account manager to support and manage high value direct clients; and
  • Pre-sales and after-sales technical support staff.

SenSen’s North American team now has six staff members with four more to join the team before the end of June 2021, including an additional senior sales manager focused on smart city market and customer support.

“I am delighted to take the lead in hiring new staff and setting up our new US headquarters to help execute our expansion plans in North America, “ said SenSen CEO Dr Subhash Challa.

“While our smart cities Chicago and Las Vegas are built around our core strength in intelligent transportation solutions, we have multiple pipeline opportunities across all of our verticals to pursue.

“In a post-pandemic world, we see significant potential to increase revenues in the United States and other geographies. These recently announced contracts will add significantly to our previously announced revenue for FY2021, but more importantly, will add to our growing ARR profile of FY2022. “

This version is approved by the SenSen Board of Directors.

About SenSen Networks Limited

SenSen’s primary focus is on the development, commercialization and delivery of innovative data-driven business process improvement solutions designed to assist customers in their business operations and dramatically improve business efficiency and productivity. SenSen provides artificial intelligence video analytics and data analytics software solutions to intelligent transportation systems and gaming customers located in Australia, WE, Canada, Singapore, New Zealand, Europe, Indiaand WATER.

Disclaimer – forward-looking statements
This press release may contain forward-looking statements. These statements are based on management’s current expectations, estimates, projections and beliefs regarding future events relating to SenSen’s business and the industry in which it operates. These forward-looking statements are provided for information only and should not be taken as an indication or a guarantee of future performance. The bases for these statements are subject to risks and uncertainties which may be beyond the control of SenSen Networks Limited and may cause actual results to differ from the publication. SenSen Networks Limited assumes no responsibility to make changes to these statements to reflect change in events or circumstances after posting.

SOURCE SenSen Networks Limited

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As UiPath closes above its final private valuation, CFO Ashim Gupta discusses his company’s path to market – TechCrunch https://juliavinograd.com/as-uipath-closes-above-its-final-private-valuation-cfo-ashim-gupta-discusses-his-companys-path-to-market-techcrunch/ Wed, 21 Apr 2021 23:12:39 +0000 https://juliavinograd.com/as-uipath-closes-above-its-final-private-valuation-cfo-ashim-gupta-discusses-his-companys-path-to-market-techcrunch/

After a rise Review, UiPath valued its IPO last night at $ 56 per share, a few dollars above its increased target range. The above price meant that the unicorn was putting more capital on its books through its public offering.

For a business in a market as competitive as robotic process automation (RPA), funds are welcome. In fact, RPA has been a priority for startups and established businesses over the past year or so. During this time, corporate pillars like SAP, Microsoft, IBM, and ServiceNow bought smaller RPA startups and built their own, all in an effort to find their way into an increasingly growing market. lucrative.

In June 2019, Gartner reported that RPA was the fastest growing area in enterprise software, and although growth has slowed since, the industry is still gaining attention. UIPath, which Gartner said was the market leader, rode this wave, and today’s influx of capital should help the company maintain its position in the market.

It should be noted that when the company had its last private financing round in February, it grossed $ 750 million for an impressive valuation of $ 35 billion. But as TechCrunch noted during its pivot to public markets, this round has valued the company above its final IPO price. As a result, this week’s public offering of $ 56 per share turned out to be a modest IPO to UiPath’s final private valuation.

Then a larger set of stock traders grabbed its shares and offered its shares higher. The former unicorn’s shares closed their first day of trading at precisely $ 69, above the price per share at which the company closed its last private round.

So despite a somewhat roundabout journey, UiPath closed its first day as a public company worth more than its Series F – when it sold 12,043,202 shares, which were sold at $ 62.27576 each, by filing with the SEC. Put simply, UiPath closed today for a higher value per share than in February.

How you might value the company, whether you prefer a straightforward or fully diluted stock count, doesn’t matter at this point. UiPath had a great day.

While it is unclear what the company could do with the profits, it is likely that it will continue to try to expand its platform beyond pure RPA, which could become constrained by the market over time as companies consider other, more modern approaches to automation. By adding additional automation capabilities – organically or through acquisitions – the business can begin to cover larger parts of its market.

TechCrunch spoke to the CFO of UiPath Ashim Gupta today curious about the company’s choice of a traditional IPO, its general avoidance of adjusted parameters in its SEC filings, and the current temperature of the IPO market. The last question was on our minds, because some companies withdrew their public listing following a market described as “difficult”.

Why didn’t UiPath lead the list after its huge February increase?

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Live Oak Mobility Acquisition Corp. Announces Separate Trading of its Class A Common Shares and Warrants Effective April 22, 2021 https://juliavinograd.com/live-oak-mobility-acquisition-corp-announces-separate-trading-of-its-class-a-common-shares-and-warrants-effective-april-22-2021/ Wed, 21 Apr 2021 21:20:00 +0000 https://juliavinograd.com/live-oak-mobility-acquisition-corp-announces-separate-trading-of-its-class-a-common-shares-and-warrants-effective-april-22-2021/

MEMPHIS, Tenn., April 21, 2021 / PRNewswire / – Live Oak Mobility Acquisition Corp. (the “Company”) announced today that, beginning April 22, 2021, unitholders sold as part of the company’s initial public offering may elect to trade separately the Class A common shares of the company and the warrants included in the units. No split warrants will be issued upon separation of the units and only whole warrants will be traded. The Class A Common Shares and the Separate Warrants will trade on the New York Stock Exchange under the symbols “LOKM” and “LOKM WS”, respectively. Non-segregated units will continue to trade on the New York Stock Exchange under the symbol “LOKM.U”. Unitholders should instruct their brokers to contact Continental Stock Transfer & Trust Company, the transfer agent of the Company, in order to separate the units into Class A common shares and warrants.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor any sale of such securities in any state or jurisdiction where such an offer, solicitation or sale would be unlawful before. registration or qualification under the securities laws of any such state or jurisdiction.

About Live Oak Mobility Acquisition Corp.

Live Oak Mobility Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, stock exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial goal of business combination in any business or industry, it intends to focus its research on companies in the mobility and motion technology sectors, which could include , but not limited to emerging technology companies, component / material suppliers, infrastructure providers and other mobility related services. The company is managed by the general manager, Richard J. Hendrix, Chief Financial Officer, President and Secretary, Gary K. Wunderlich, Jr., Chief Executive Officer, Adam J. Fishman and Chairman of the Board, Bob ferguson.

Forward-looking statements

This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and the Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may “,” Could “,” plan “,” possible “,” potential “,” predict “,” plan “,” should “,” would “and similar expressions, with respect to the company or its management team, identify forward-looking statements. These forward-looking statements are based on the beliefs of management, as well as on the assumptions made by the management of the company and on information currently available. Actual results could differ materially from those contemplated in forward-looking statements due to certain factors detailed in documents filed by the Company with the Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to the Company or to persons acting on its behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set out in the Risk Factors section of the Company’s registration statement for the Company’s initial public offering filed. with the SEC. The Company assumes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company contact:

Gary K. Wunderlich, Jr.
Chief Financial Officer, President and Secretary
Live Oak Mobility Acquisition Corp.
(901) 685-2865
[email protected]

SOURCE Live Oak Mobility Acquisition Corp.

Related links

https://www.liveoakacq.com/

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The Valens Company Expands Domestic Reach With Yukon Territory Distribution Agreement | New https://juliavinograd.com/the-valens-company-expands-domestic-reach-with-yukon-territory-distribution-agreement-new/ Wed, 21 Apr 2021 21:00:00 +0000 https://juliavinograd.com/the-valens-company-expands-domestic-reach-with-yukon-territory-distribution-agreement-new/

Valens can now ship products to five provinces and one territory in Canada

KELOWNA, British Columbia, April 21, 2021 / PRNewswire / – Valens Inc. (TSX: VLNS) (OTCQX: VLNCF) (on “Company,” “The Valens company” or “Valens”), a leading manufacturer of cannabis products, today announced its entry into the Yukon market with an agreement to buy and sell cannabis with the Yukon Liquor Corporation (YLC).

The agreement allows the sale and distribution of products manufactured by Valens to authorized cannabis retailers in Yukon and on Cannabis Yukon, The e-commerce platform of the Yukon Liquor Corporation. Valens plans to bring a range of Cannabis 2.0 and 3.0 products to the Yukon market, which could include vapors, concentrates, beverages, topicals and edibles, expanding the variety of innovative formats available in the territory.

“Our entry into the Yukon market not only reinforces our ability to gain market share Canada, but also widens the selection and quality of products that consumers in the territory can access, ”said Tyler robson, CEO, co-founder and chairman of The Valens Company. “We have made significant progress in growing our cannabis distribution network and plan to increase our national position in the near term as we continue discussions with other private and government regulated retailers across the country.”

Products manufactured by Valens will be shipped to Yukon and available to consumers in the coming quarters.

At Valens, it’s personal.

About the company Valens

The Valens Company is a leading manufacturer of cannabis products with a mission to bring the benefits of cannabis to the world. The company provides exclusive cannabis processing services in five core technologies, in addition to product development, formulation and manufacture of premium packaged consumer products. The high-quality products of the company Valens are exclusively formulated for the medical, therapeutic, health and wellness and leisure consumer segments, and are offered in numerous product formats, including oils, vapors, concentrates, edibles and topicals, as well as pre-rolls. , with a focus on new generation product development and innovation. Its revolutionary patented emulsification technology, SōRSE ™ from Valens, converts cannabis oil into water-soluble emulsions for seamless integration into a variety of product formats, allowing near perfect dosage, stability and taste. In partnership with brand houses, consumer packaged goods companies and licensed cannabis producers around the world, the company continues to develop its diverse product portfolio in response to changing market preferences of cannabis consumers. keys. Through its wholly owned subsidiary Valens Labs Ltd., the company sets the standard for cannabis testing and research and development with From Canada The only ISO17025 accredited analytical services laboratory, named a Center of Excellence in Plant Sciences by partner and global scientific leader Thermo Fisher Scientific. Learn more about The Valens Company and its subsidiaries at http://www.thevalenscompany.com.

Notice Regarding Forward-Looking Statements

All information included in this press release, including any information on future financial or operational performance and other statements by The Valens Company that express management’s expectations or estimates of future performance, other than statements of historical fact, constitute forward-looking or forward-looking information. – forward-looking statements within the meaning of applicable securities laws and are based on expectations, estimates and projections as of the date hereof. Forward-looking statements are included for the purpose of providing information about management’s current expectations and plans for the future. Whenever possible, words such as “plans”, “expects”, “planned”, “trends”, “forecasts”, “future”, “indications”, “potential”, “estimates”, ” predicts “,” anticipates “,” establish “,” believe “,” intend “,” ability to “, or statements that certain actions, events or results” may “,” should “,” might “,” would like “,” could “,” will “, or are” likely “to be taken, to occur or to be achieved, or the negative of these words or other variations thereof, have been used to identify this forward-looking information. Specific forward-looking statements include, without limitation, any disclosure regarding future results of operations, future results of transactions, economic conditions and planned action plans. Investors and other parties are advised that there is not necessarily a correlation between the number of SKUs manufactured and shipped and revenues and profits, and this information should not be relied on unduly.

Risks and uncertainties that may affect forward-looking statements include, but are not limited to, Canadian regulatory risk, Australian regulatory risk, US regulatory risk, bans on border crossings and travel to the United States, uncertainties, effects and responses to the COVID-19 pandemic, dependence on licenses, expansion of facilities, competition, dependence on the cannabis supply and dependence on other key inputs, dependence on with respect to senior management and key personnel, general business risks and liability, regulation of the cannabis industry, changing laws, regulations and guidelines, compliance with laws, business history, ” limited operations, vulnerability to rising energy costs, unfavorable consumer advertising or perception, product liability, Risks related to intellectual property, product recalls, difficulties with forecasting, growth management and litigation, many of which are beyond the control of The Société Valens. For a more complete discussion of the risks that The Valens Company faces, and which may cause The Valens Company’s actual financial results, performance or achievements to differ materially from the estimated future results, performance or achievements expressed or implied For forward-looking information or forward-looking statements, please refer to the latest annual information form of The Valens Company filed with the Canadian securities regulatory authorities at www.sedar.com or on The Valens Company website at www.thevalenscompany.com. The risks described in this Annual Information Form are incorporated herein by reference. Although the forward-looking statements contained herein reflect management’s current beliefs and reasonable assumptions based on information available to management as of the date hereof, The Valens Company cannot be certain that actual results will be consistent with such information. prospective. Valens cautions you not to place undue reliance on these forward-looking statements. Valens disclaims any intention or obligation to update or revise any forward-looking statement whether as a result of new information, future events or otherwise, except as required by applicable law. Nothing herein should be construed as an offer to sell or a solicitation to buy or sell securities of The Valens Company.

Show original content to download multimedia:http://www.prnewswire.com/news-releases/the-valens-company-increases-domestic-reach-with-distribution-agreement-with-yukon-territory-301274267.html

SOURCE Valens Inc.

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Lemonade appoints Irina Novoselsky and Silvija Martincevic to its board of directors https://juliavinograd.com/lemonade-appoints-irina-novoselsky-and-silvija-martincevic-to-its-board-of-directors/ Wed, 21 Apr 2021 20:30:00 +0000 https://juliavinograd.com/lemonade-appoints-irina-novoselsky-and-silvija-martincevic-to-its-board-of-directors/

NEW YORK–(BUSINESS WIRE) –Lemonade, the insurance company based on artificial intelligence and behavioral economics, has announced that it has elected two new members to its board of directors, Irina Novoselsky and Silvija Martincevic, with immediate effect.

Irina Novoselsky is a seasoned technology leader, with a strong track record of growth and operational efficiency for complex global organizations. She is currently the CEO and Board Member of CareerBuilder, a global talent acquisition and SaaS media company. Previously, she was President of Novitex Enterprise Solutions, a technology outsourcing company. Prior to Novitex, Irina was an Investment Professional at Apollo Global Management in the Private Equity Group and an Investment Bank in the M&A Group at Morgan Stanley.

“I have focused much of my career on disruptive technologies to create better customer experiences. Lemonade’s smooth user experience and its modern business model challenging the status quo is a natural alignment, ”Novoselsky said. “I look forward to working with Daniel, Shai, the board of directors and the management team of Lemonade to contribute to the future success of this growing company.”

Silvija Martincevic is the Commercial Director of Affirm, a payments technology company dedicated to creating honest financial products that improve lives. At Affirm, she is responsible for business strategy, partnerships and marketing. Prior to his current role, from 2011 to 2018, Silvija held various leadership roles at Groupon, including Chief Operating Officer and Chief Marketing Officer of Groupon’s international operations in Europe, Asia and Australia. Silvija also spent a decade in the investment management industry where she founded her own company focused on socially responsible equity investments.

“I strongly believe that companies can have a mission and a product that puts the consumer first while producing strong business results, and Lemonade is a great example of that,” said Martincevic. “I am delighted to join the company’s board of directors and look forward to working with the extended Lemonade team to support the continued growth of the company.”

The two new board members replace Haim Sadger and Tom Hutton, who resigned today after serving on Lemonade’s board since its inception. Haim and Tom both brought Lemonade exceptional insight and experience, and their dedication to the company is greatly appreciated.

“Irina and Silvija each bring a wealth of consumer and financial experience, knowledge and expertise, and we are delighted to welcome them to the Lemonade Board of Directors,” said Daniel Schreiber, CEO and co-founder of Lemonade. “We are also extremely grateful to Haim and Tom for their years of support, wisdom and friendship. The lemonade wouldn’t have gone as far as us if it wasn’t for them.

Along with Irina and Silvia, Lemonade’s current board is made up of Lemonade Co-Founders Daniel Schreiber and Shai Wininger, Joel Cutler (Co-Founder, Managing Director, General Catalyst Partners), Michael Eisenberg (Partner, Aleph), Shu Nyatta (Managing Partner, Softbank Group International) and Caryn Seidman-Becker (Chairman and CEO, CLEAR).

About lemonade

Lemonade offers renters, owners, pets and life insurance. Powered by artificial intelligence and behavioral economics, Lemonade’s full stack insurance companies in the US and EU are replacing brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and at any instant. B-Corp certified, Lemonade donates unused bounties to nonprofits selected by its community during its annual remittance. Lemonade is currently available in the United States, Germany, the Netherlands, and France, and continues to expand globally.

Keep in touch at @lemonade_inc or press@lemonade.com

Forward-looking statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release that do not relate to historical facts should be considered as forward-looking statements. These statements are not promises or guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements. expressed or implied by the forecasts. statements, including, but not limited to the following: our history of losses and the fact that we may not achieve or maintain profitability in the future; our ability to retain and expand our customer base; the fact that the “Lemonade” mark may not become as well known as the trademarks of the incumbents or the mark may be tarnished; denial of claims or our inability to pay claims accurately and in a timely manner; our ability to get more value from each user; the novelty of our business model and its unpredictable efficiency and sensitivity to unintended consequences; the possibility that we may be forced to modify or eliminate our feedback, which could undermine our business model; the results of reviews by our principal state insurance regulator that could result in adverse review results and require corrective action or give rise to regulatory orders requiring corrective, injunctive or other action; our limited operating history; our ability to effectively manage our growth; the impact of intense competition in the segments of the insurance industry in which we operate on our ability to achieve or increase profitability; the unavailability of reinsurance at current levels and prices, which could limit our ability to write new business; our ability to renew reinsurance contracts for a term and under conditions comparable to those currently in effect; our exposure to counterparty risks resulting from reinsurance; loss of personal customer information, damage to our reputation and brand, or to our business and operating results due to security incidents or actual errors, failures or bugs or perceived in our systems, website or application; our actual or perceived inability to protect customer information and other data, respect customer privacy, or comply with data privacy and security laws and regulations; our ability to comply with extensive insurance industry regulations and the need to incur additional costs or devote additional resources to comply with changes to existing regulations; our exposure to additional regulatory requirements specific to other markets we enter or have entered, including auto, pet and life insurance, and the need to devote additional resources to comply to these regulations; and our inability to predict the lasting impacts of COVID-19 on our business in particular, and the global economy in general. These and other important factors are discussed under the heading “Risk Factors” in our Annual Report on Form 10-K filed on March 8, 2021 and our other documents filed with the Securities and Exchange Commission could cause the actual results differ materially from those indicated by the forward-looking statements made in this press release. These forward-looking statements represent the beliefs of management as of the date of this press release. While we may choose to update these forward-looking statements at some time in the future, we disclaim any obligation to do so, even if subsequent events change our view.

]]> Oatly IPO: 5 things to know about the plant-based dairy company before its IPO https://juliavinograd.com/oatly-ipo-5-things-to-know-about-the-plant-based-dairy-company-before-its-ipo/ Wed, 21 Apr 2021 19:07:00 +0000 https://juliavinograd.com/oatly-ipo-5-things-to-know-about-the-plant-based-dairy-company-before-its-ipo/ After confidentially filing for its IPO in February, plant-based food company Oatly Group AB filed an application to go public with the United States Securities and Exchange Commission.

Oatly Group changed its name from Havre Global AB on March 1, 2021.

Oatly OTLY,

has set itself the goal of raising $ 100 million, usually a reserved amount that will be changed later.

There are nine main underwriters for the deposit: Morgan Stanley, JPMorgan, Credit Suisse, Barclays, Jeffries, BNP Paribas, BofA Securities, Piper Sandler and RBC Capital Markets.

Oatly is backed by private equity group Blackstone Group, as well as celebrity names like Oprah Winfrey and Jay Z who invested $ 200 million in the company last summer. The investment valued the company at $ 2 billion at the time, according to The Wall Street Journal.

Based in Malmö, Sweden, Oatly has been in the oat milk business for 25 years. The company’s product line now also includes frozen desserts and “oatmeal”, an alternative yogurt.

Toni Petersson has been Managing Director of Oatly since 2012 and will join the Board of Directors once the company goes public.

Christian Hanke, former head of Nasdaq Stockholm, has been Oatly’s CFO since March 2020.

The company goes public at a time when issues of climate change and sustainability are at the heart of the concerns of many consumers, especially younger ones.

“Generation Z and Generation Y will become the dominant global generations in the years to come, bringing to the market a new set of values ​​and expectations,” the company said in its prospectus.

Lily: Impossible Foods gears up for $ 10 billion IPO: report

“These factors combined are leading to rapid and accelerated growth and an influx of new consumers into the plant-based dairy market.”

According to the Plant Based Foods Association and the Good Foods Institute, sales of plant-based foods reached $ 7 billion in 2020.

Consumer Insights data cited in the prospectus indicates that the plant-based milk category will increase by 20% to 25% over the next three years.

Oatly is focused on its role of helping transform the food industry to be better for the environment and meet the health needs of its customers. The company points out that replacing a cup of Oatly with a cup of cow’s milk reduces greenhouse gas emissions, land use and energy consumption.

Tastewise, which provides food and drink data and intelligence, said in a December 2020 report that “everything plant-based” will be one of the top 10 US trends for this year.

“The main reason consumers turn to plant-based foods and drinks? Health, ”the report says.

“Vegetables are no longer just an ‘alternative’ to meat, but rather a
category in itself. “

Oatly’s main markets are Sweden, Germany and the United Kingdom, although its products are available in 60,000 retail stores and 32,200 cafes around the world as of December 31, 2020. Among the places where customers can find Oatly sits Starbucks SBUX,
+ 0.40%,
where demand was so high, there was a shortage soon after the coffee chain introduced the drinks made with the item.

COVID-19 has impacted Oatly’s business as lockdowns around the world limit access to restaurants, bars, and other dining establishments.

See: Starbucks oat milk shortage comes as plant-based food sales skyrocket

In 2020, Oatly had revenue of $ 421.4 million, up from $ 204.0 million the year before. However, the company reported a loss of $ 60.4 million “reflecting our continued investment in production, brand awareness, new markets and product development,” the prospectus states.

Oatly is classified as an “emerging growth company,” which means it does not have to make the same disclosures required by large state-owned companies. A company remains an emerging, growing business until it reaches a number of milestones, including annual revenue of over $ 1.07 billion.

Oatly warns that she has reported losses over the “past” years and expects operating and capital expenses to increase “substantially”.

“Our expansion efforts may take longer or prove to be more costly than we anticipate, particularly in light of the COVID-19 pandemic, and we may not be successful in increasing our revenues and margins enough to offset the higher planned spending, ”the company said in its statement. prospectus.

“We incur significant expenses in the research and development of our innovative products, the construction of our production and manufacturing facilities, the procurement and storage of ingredients and other products and the marketing of the products we offer. . “

Also: Alternative vegetable meat brand Incogmeato launches Chik’n Tenders

Here are five other things to know about Oatly ahead of its public debut:

Oatly will not pay a dividend for the “foreseeable future”. The company plans to use the proceeds of the offering as working capital, for gradual growth, including expansion, and for other general purposes.

The cafe opened the door to Oatly in the United States Oatly arrived in the United States in 2017. The company says it “focused on targeting coffee taste makers, professional independent coffee baristas” as a way to enter the market. “

As of December 31, 2020, Oatly has a presence in more than 7,500 retail stores and 10,000 cafes in the United States, with 2020 revenue of $ 100 million in the United States.

Oatly can also be found in 11,000 coffee shops and tea rooms in China and more than 6,000 retail and specialty stores across the country, including thousands of Starbucks locations.

A limited supply of oats could have a financial impact. Oatly relies on five suppliers for the oats it uses and buys this ingredient through millers in Sweden, Denmark, the United States and Belgium.

“In the past, we have experienced interruptions in a supplier’s oat supply that have resulted in delivery delays to us,” the company said, noting that its oat supply is also vulnerable to natural disasters such as drought or flooding.

“We could experience similar delays in the future from any of these suppliers.”

The company is also dependent on certain enzyme suppliers, including a supplier that supplies an enzyme for some of the Oatly products, including Barista Edition oat milk.

The main components of the company’s products are being manufactured at four main factories as of March 2021, which could also be a problem if something important happens at a facility.

The dairy product market is very competitive. Oatly identifies conventional dairy companies including Dean Foods Inc. DFODQ,
-1.12%
and Lactalis as competitors, as well as the growing number of plant-based dairy alternative companies entering the market, including soy, almond, hemp and cashew milk brands.

All of these businesses compete for a limited number of retail stores, coffee shops, restaurant customers and consumers.

“In order for us to not only maintain our position in the market, but also continue to grow and acquire more consumers, some of whom could switch from traditional dairy products to plant-based alternatives, we must continue to provide delicious and delicious products. High quality. , and consumers must believe in our vision for a food system that is better for people and the planet, ”the company said.

Don’t miss: America is set to reopen on July 4, and restaurants poised to benefit from a desire to ‘get out and get together’, says JPMorgan

Oatly’s marketing and COVID-19 could be a hindrance to growth. Oatly says his story of “provocative and unconventional marketing and advertising campaigns” put them in hot water, including a 2014 lawsuit filed by the Swedish dairy lobby in which courts found Oatly to be ” derogatory dairy products ”.

“The decision resulted in a ban on continuing to use a number of expressions marketing our products in Sweden, under penalty of damages of SEK 2 million per expression,” the prospectus states.

The company warns that future marketing could lead to further lawsuits.

More recently, Oatly’s Super Bowl commercial has been securities, but above all to provoke laughter.

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Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders https://juliavinograd.com/levi-korsinsky-llp-reminds-investors-of-class-actions-on-behalf-of-shareholders/ Wed, 21 Apr 2021 19:00:00 +0000 https://juliavinograd.com/levi-korsinsky-llp-reminds-investors-of-class-actions-on-behalf-of-shareholders/

NEW YORK, NY / ACCESSWIRE / April 21, 2021 / Levi & Korsinsky, LLP announces that class actions have been filed on behalf of shareholders of the following publicly traded companies. Shareholders interested in acting as the main plaintiff have until the time limits indicated to apply to the court. For more details on the cases, see the links provided. There is no cost or obligation for you.

SOS shareholders Click here: https://www.zlk.com/pslra-1/sos-limited-information-request-form?prid=14981&wire=1
KRMD Shareholders Click here: https://www.zlk.com/pslra-1/repro-med-systems-inc-loss-submission-form?prid=14981&wire=1
EBS shareholders Click here: https://www.zlk.com/pslra-1/emergent-biosolutions-inc-loss-submission-form?prid=14981&wire=1

* ADDITIONAL INFORMATION BELOW *

SOS Limited (NYSE: SOS)

SOS legal action on behalf of: investors who bought from July 22, 2020 to February 25, 2021
Lead Applicant Deadline : June 1, 2021
TO FIND OUT MORE, VISIT: https://www.zlk.com/pslra-1/sos-limited-information-request-form?prid=14981&wire=1

According to the complaint filed, during the course period SOS Limited made materially false and / or misleading statements and / or did not disclose that: (i) SOS had misrepresented the true nature, location and / or l ‘existence of at least one of the principal management offices listed in its documents filed with the SEC; (ii) HY and FXK were undisclosed related parties and / or manufactured entities of the Company; (iii) the Company had misrepresented the type and / or existence of the mining platforms that it claimed to have purchased; and (iv) therefore, the Company’s public statements were materially false and misleading at all material times.

Repro Med Systems, Inc. (NASDAQ: KRMD)

KRMD lawsuit on behalf of: investors who bought from August 4, 2020 to January 25, 2021
Lead Applicant Deadline May 25, 2021
TO FIND OUT MORE, VISIT: https://www.zlk.com/pslra-1/repro-med-systems-inc-loss-submission-form?prid=14981&wire=1

According to the complaint filed, during the course period, Repro Med Systems, Inc. made materially false and / or misleading statements and / or did not disclose that: (1) as of January 2020, Repro Med Systems has intensified the use of allowances. , including growth discounts, to retain key customers and to encourage growth; (2) as the discounts accumulated, the company’s net sales were reasonably likely to decline; and (3) as a result of the foregoing, the positive statements by the defendants regarding the business, operations and prospects of the company were substantially misleading and / or lacked reasonable basis.

Emergent Biosolutions Inc. (NYSE: EBS)

EBS lawsuit on behalf of: investors who bought from July 6, 2020 to March 31, 2021
Lead Applicant Deadline June 18, 2021
TO FIND OUT MORE, VISIT: https://www.zlk.com/pslra-1/emergent-biosolutions-inc-loss-submission-form?prid=14981&wire=1

According to the complaint filed, during the class period, Emergent Biosolutions Inc. made materially false and / or misleading statements and / or did not disclose that: (i) the Emergent plant in Baltimore had a history of problems with manufacturing increasing the likelihood of massive contamination; (ii) these long-standing contamination risks and quality control issues at the Emergent facility have led to a series of citations from the FDA; (iii) the company previously had to throw away the equivalent of millions of doses of COVID-19 vaccine after workers at the Baltimore plant deviated from manufacturing standards; and (iv) as a result of the foregoing, the defendants’ public statements about Emergent’s ability and ability to mass-manufacture multiple COVID-19 vaccines at its Baltimore manufacturing site were materially false and / or misleading and / or lacked a reasonable basis.

You have until the lead applicant’s deadline to ask the court to appoint you as the lead applicant. Your ability to participate in any recovery does not require you to act as the principal applicant.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise and experience in representing investors in stock market litigation and recovered hundreds of millions of dollars for aggrieved shareholders. Lawyer advertising. Past results do not guarantee similar results.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th floor
New York, NY 10006
jlevi@levikorsinsky.com
Phone: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

See the source version on accesswire.com:
https://www.accesswire.com/641626/CLASS-ACTION-UPDATE-for-SOS-KRMD-and-EBS-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of- Shareholders

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Adrenaline Performance LLC pays fine of $ 48,600 for sale, installation of ‘defeat’ emission control devices | US EPA Press Releases https://juliavinograd.com/adrenaline-performance-llc-pays-fine-of-48600-for-sale-installation-of-defeat-emission-control-devices-us-epa-press-releases/ Wed, 21 Apr 2021 18:17:31 +0000 https://juliavinograd.com/adrenaline-performance-llc-pays-fine-of-48600-for-sale-installation-of-defeat-emission-control-devices-us-epa-press-releases/

Today, the United States Environmental Protection Agency announced that Adrenaline Performance LLC of Shelley, Idaho, has agreed to pay a Clean Air Act fine of $ 48,600 for the illegal sale and installation of control devices. vehicle emissions to businesses and individuals in Southeast Idaho.

The EPA alleges that from approximately January 1, 2018 to approximately June 17, 2020, the company sold, marketed or installed at least 671 parts or components that bypass, neutralize, or inoperate the technology and manufacturer’s design necessary to reduce vehicle emissions. to meet federal Clean Air Act standards and tampered with the emission control systems of at least 248 on-road vehicles. The agency estimates that the defeat devices have led to 38,000 pounds of excess emissions from tampered vehicles for each year of sale.

The EPA estimates that – in terms of nitrogen oxides (NOx) – the impact on emissions of removing emissions controls from a single pickup truck is equivalent to putting about 300 new pickup trucks on the road.

“This company has sold and installed hundreds of aftermarket neutralization devices, and as a result, hundreds of trucks are now operating without the filters, catalysts and other emission controls that help keep our air clean,” said Ed Kowalski, EPA Region 10 Enforcement and Enforcement Director. Compliance Assurance Division. “We hope that this action and other similar enforcement measures will deter other companies from selling and installing products that violate required emission controls.”

Weathered diesel pickup trucks emit large amounts of NOx and particulate matter, both of which contribute to serious public health problems in the United States. These problems include premature mortality, worsening respiratory and cardiovascular disease, worsening existing asthma, acute respiratory symptoms, chronic bronchitis, and decreased lung function. Many studies also link diesel engine exhaust to an increased incidence of lung cancer.

To meet emission standards intended to protect public health, manufacturers use certain hardware devices – such as exhaust gas recirculation, diesel particulate filters, and selective catalytic reduction – as emission control systems to manage and treating the exhaust gases to reduce the levels of particulate matter, non-methane hydrocarbons, NOx and carbon monoxide released into the air. These hardware systems are operated and monitored by software systems.

In the agreement, the company has agreed to stop selling and installing all products that violate the CAA. The penalty that Adrenaline Performance has agreed to pay reflects the company’s demonstrated limited ability to pay a higher penalty.

The parts have been designed and marketed for use on makes and models of diesel light truck engines manufactured by Cummins Inc., General Motors Company and Ford Motor Company.

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PSPC transactions in cannabis: what is a PSPC | Locke Lord LLP https://juliavinograd.com/pspc-transactions-in-cannabis-what-is-a-pspc-locke-lord-llp/ Wed, 21 Apr 2021 16:14:02 +0000 https://juliavinograd.com/pspc-transactions-in-cannabis-what-is-a-pspc-locke-lord-llp/

Since 2018, millions of dollars have been raised in cannabis-focused special buy acquisition companies, or “PSPCs.” A PSPC is basically a “blank check” company with no operating history or assets. A SPAC is formed for the purpose of raising capital under an initial public offering (IPO) and using this capital to acquire an existing business and have that business go public as part of this referred to as a “de-SPAC” merger operation. IPO funds are held in trust for a period of time following the IPO, typically up to 24 months, until they are used to acquire and operate an existing business. If there is no de-SPAC transaction completed within the specified time frame, then the SPAC is liquidated.

The viability of a PSPC and the ultimate success of the business following a de-PSPC transaction depend in large part on the reputation of the PSPC sponsor. Typically, the sponsor (s) are an experienced team of individuals with significant industry experience and knowledge that will ultimately be relied on once a target business is acquired. For example, Joe Caltabiano, former CEO of Cresco Labs, and Peter Kadensand, former CEO of Green Thumb Industries, are involved in Choice Consolidation Corp., a PSPC that raised $ 150 million when it went public in February 2021. In other cases, the sponsor is backed by a celebrity who is looking to get involved simply as a source of capital. Before there is a de-SPAC acquisition, the role of the sponsor is to provide the necessary funding to form the PSPC and to pay the expenses arising from the IPO of the PSPC.

For an existing cannabis company who are potential targets for a de-PSPC transaction, an acquisition by a PSPC offers several advantages over a traditional IPO transaction, including (1) cost savings over the traditional IPO process, (2) more leverage to negotiate its purchase price versus a pricing by underwriters based on market demands during a traditional IPO, and (3 ) Typically a company has little recourse if the traditional IPO fails and is not started, whereas in a de-PSPC transaction, a company can negotiate a break-up fee to reimburse the target for expenses related to the IPO. acquisition if the transaction is not completed. As an example, WeedMaps and Clever Leaves were acquired and went public via a de-SPAC transaction in 2020. It is important to note that to date, many cannabis-focused PSPCs have been trained as Canadian companies where cannabis is legalized. . To the extent that cannabis-related PSPCs register in the United States, documents filed with the SEC generally indicate that the investment criteria for any target entity will be limited to companies operating in accordance with all applicable laws and regulations in the United States. the jurisdictions in which they are located and do not. otherwise operate in violation of United States federal laws, including the United States Controlled Substances Act. Until there was a movement in federal policy to legalize or defer cannabis as a Schedule 1 narcotic, PSPCs had to withdraw their securities from any U.S. stock exchange when acquiring a a company dealing with plants (such as a grower, processor, or dispensary) and relist those titles on a Canadian stock exchange.

As businesses continue to consider the viability of raising capital through PSPC and entering into de-PSPC transactions, it will be important to follow the SEC guidelines on PSPC registrations and disclosures. The SEC recently issued guidelines regarding the treatment of warrants issued in connection with a PSPC IPO. These warrants can generally be exercised subsequently for common shares at a predetermined price and used to induce investors to participate early. SEC guidelines treat them as liabilities of PSPC, which could harm the balance sheet and ultimately affect PSPC’s ability to complete an acquisition. Additionally, the SEC cautioned against closer scrutiny in examining forward-looking projections and accounting disclosures for blank check offerings that could have a chilling effect on the PSPC market in the future.

Please stay tuned to our blog for updates on the cannabis industry’s PSPC transactions and other related SEC developments.

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How this company beat Tesla with the world’s first self-driving electric truck https://juliavinograd.com/how-this-company-beat-tesla-with-the-worlds-first-self-driving-electric-truck/ Wed, 21 Apr 2021 06:30:00 +0000 https://juliavinograd.com/how-this-company-beat-tesla-with-the-worlds-first-self-driving-electric-truck/

When asked which company was the first to create an autonomous electric freight truck, most people are wrong. And when asked which company was the first to create an autonomous electric truck that is allowed to drive on public roads, most people are also wrong. It’s not Tesla, it’s not Alphabet’s Waymo, Uber, or Lyft, and it’s not one of the big car or truck makers.

It is Einride (pronounced as “n-ride”), a Swedish startup founded in 2016. I spoke to Linnéa Kornehed, 29, listed co-founder Forbes 30 Under 30 and CMO of Einride, to find out how they did this.

Some facts about Einride

Founded in 2016, Einride today has around 100 people and has raised a total of $ 41 million in funding. Good for a startup, but totally incomparable to the many billions that all of the above large companies have invested in electric and autonomous driving. And yet, it was this startup that beat them all by putting their first truck on the road, or “Pod” as Einride likes to call them. As Kornehed explains, “the day after Elon Musk ad the launch of the Tesla Semi, we have already launched our Pod. “

If you’re not already impressed with this, here are some more facts about Einride:

  • Named in Fast Company’s prestigious annual list of the world’s most innovative companies for 2021 in the Transportation category
  • Winner of the Edison Awards 2020 for innovations and innovators
  • Winner of the European Mobility Startup Award, an EU-funded acceleration and investment program for sustainable mobility startups
  • CB Insights Game Changers 2020 is one of 36 startups that could change the world
  • Featured on the 100 Global Cleantech 2020 list
  • First place in the “Sustainable transport” and in the “People’s Choice Award”, in the Electronic price competition from the energy company E.ON. and Veckans Affärer
  • Exclusive member of the World Economic Forum, Shaping the future of mobility

The many brands that have already partnered with Einride, including Coca-Cola, Lidl, Oatly and Ericsson, are further proof of their strength, and the fact that they are the first to set a record for an autonomous electric transport vehicle. at the top. Speed ​​running track (see photo and watch here).

Einride business model

Einride is no ordinary truck maker. It does not produce their pods, nor their pods for sale. Similar to a company like Apple, Einride is in charge of the design, technology and branding of their trucks, as well as control of the entire chain to which they outsource production, assembly and logistic. But the most important is its software platform. As Kornehed explains, “Basically, Einride is first and foremost a software company. It’s our platform that makes the difference. “

Einride has adopted the TaaS (Transportation as a Service) model. This means that as a customer you don’t buy their products but subscribe to a monthly service. In other words, you are buying a transport rather than a vehicle. The reason for adopting this innovative economic model lies in the specificities of autonomous and electric driving.

Kornehed: “Autonomous and electric driving requires careful and systematic planning. It is best to do this at the level of the fleet in order to have an efficient and safe overall planning that makes the best use of the range and the possibilities of recharging vehicles. With their TaaS model, software platform and ‘control room’, Einride can plan much more efficiently than individual transport companies could – and thus help them save money and money. reduce emissions.

Why and where then?

When asked why Kornehed joined Einride and what the company’s motivation is, there is no doubt: climate change. As Kornehed continues, “road freight transport is responsible for 7% of global greenhouse gas emissions. And the volume of goods shipped is increasing at a rate of 3-4% every year. Self-driving electric trucks could transform road freight transport as we know it by reducing CO2 emissions by 90%, Einride said. Besides, it could also reduce operating costs by 60% and drastically improve road safety.

When asked if less transportation might not be a better solution, Kornehed replies, “Logistics and transportation are so important in today’s global economy. We don’t want to let that go. The same goes for travel which is great. We should be able to keep all of this, but in a responsible and sustainable manner. “

The company wants to lead by example and show that the transformation towards electric and autonomous freight transport is within reach. As they show, the technology is there and the legal hurdles can be overcome. Admittedly, their current public road permit is very limited and limited to a small section of a public road in Sweden. But that means the start is there, even in Europe where the legal side is particularly problematic.

Going forward, Einride’s next steps begin operations in the United States and expand further in Europe. And, at the end of Kornehed, “we hope to show people and businesses that it is possible to make a change. But change doesn’t just happen. By achieving all that we have accomplished in just five years with our startup, we hope to inspire others to take their own sustainability initiatives.

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