Financial corporation – Hledam http://hledam.biz/ Fri, 08 Oct 2021 14:45:27 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://hledam.biz/wp-content/uploads/2021/06/icon-2021-07-01T003219.761-150x150.png Financial corporation – Hledam http://hledam.biz/ 32 32 Osisko Green Acquisition Limited announces the exercise of https://hledam.biz/osisko-green-acquisition-limited-announces-the-exercise-of/ https://hledam.biz/osisko-green-acquisition-limited-announces-the-exercise-of/#respond Fri, 08 Oct 2021 13:28:51 +0000 https://hledam.biz/osisko-green-acquisition-limited-announces-the-exercise-of/ NOT FOR DISTRIBUTION TO US NEWSWIRE OR UNITED STATES DISTRIBUTION TORONTO, 08 Oct 2021 (GLOBE NEWSWIRE) – Osisko Green Acquisition Limited (the “company“) (TSX: GOGR.UN) is pleased to announce that the syndicate of underwriters led by Eight Capital and which included BMO Nesbitt Burns Inc., Canaccord Genuity Corp., National Bank Financial Inc. and RBC Dominion […]]]>

NOT FOR DISTRIBUTION TO US NEWSWIRE OR UNITED STATES DISTRIBUTION

TORONTO, 08 Oct 2021 (GLOBE NEWSWIRE) – Osisko Green Acquisition Limited (the “company“) (TSX: GOGR.UN) is pleased to announce that the syndicate of underwriters led by Eight Capital and which included BMO Nesbitt Burns Inc., Canaccord Genuity Corp., National Bank Financial Inc. and RBC Dominion Securities Inc. . (collectively, the “Subscribers“) have partially exercised their over-allotment option (the”Over-allotment option“) to acquire 817,000 additional Class A Restricted Voting Units of the Company (the”Class A Restricted Voting Units“) at a price of $ 10.00 per Class A Restricted Voting Unit (the”Offer price“) for additional gross proceeds of $ 8,170,000. Each Class A Restricted Voting Unit consists of one Class A Restricted Voting Share of the Company (a”Class A Restricted Voting Share“) and a half share purchase warrant of the Company (each entire warrant, a”To guarantee“).

The Over-Allotment Option was granted to the Underwriters in connection with the Company’s previously announced initial public offering for 25,000,000 Class A Restricted Voting Units at the offering price per Right Unit. restricted voting category A (the “”Offer“) for total gross proceeds of $ 250,000,000, closed on September 8, 2021.

The partial exercise of the Over-Allotment Option brings the total number of Class A Restricted Voting Units issued in connection with the Offering to 25,817,000 and the total gross proceeds to $ 258,170,000. The total gross proceeds of the placement (including the gross proceeds of the partial exercise of the over-allotment option) have been placed in the escrow account established with the escrow agent pending the completion of a qualifying acquisition by the Company. and will only be released on certain prescribed conditions.

In addition, Osisko Green Sponsor Corp. (the “Sponsor“), certain of the officers and directors of the Company and certain other investors received a total of 163,400 share purchase warrants (the”Funding mandates“) at an offering price of $ 1.00 per warrant for total proceeds equal to $ 163,400.

The Class A Restricted Voting Units issued in connection with the Offering (including under the Over-Allotment Option) were offered by final prospectus dated September 8, 2021 in each of the provinces and territories of the Canada (the “Final prospectusCopies of the Final Prospectus and the documents incorporated by reference therein are available electronically under the Company’s issuer profile on SEDAR at www.sedar.com.

For further information regarding the Class A Restricted Voting Shares, Warrants and Funding Warrants, please refer to the Company’s press release dated September 8, 2021 and the Final Prospectus.

This press release does not constitute an offer to sell any securities in the United States, and the securities may not be offered or sold in the United States without registration or exemption from registration. The securities have not been and will not be registered under the United States Securities Act of 1933. A copy of the final prospectus is available on SEDAR at www.sedar.com.

About Osisko Green Acquisition Limitée

Osisko Green Acquisition Limited is a newly incorporated special purpose acquisition company incorporated under the laws of the Province of British Columbia for the purpose of making, directly or indirectly, a qualifying acquisition within a specified time frame.

Forward-looking statements

This press release may contain forward-looking information within the meaning of applicable securities laws, which reflects the current expectations of the Promoter and the Company regarding future events, including its expectations relating to the qualifying acquisition of the Company. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the control of the Limited Partner or the Partnership, which could cause actual results and events differ materially from those disclosed in or implied by such forward-looking information. These risks and uncertainties include, without limitation, the intentions relating to the qualifying acquisition of the Company and related transactions and the factors described under “Risk Factors” in the final prospectus. Neither the Limited Partner nor the Company undertakes to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

FOR MORE INFORMATION, PLEASE CONTACT:

Osisko Green Acquisition Limited
Alexandre dann
Financial director
adann@osiskodev.com


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Global FinTech Blockchain Markets Report 2021-2028 – https://hledam.biz/global-fintech-blockchain-markets-report-2021-2028/ https://hledam.biz/global-fintech-blockchain-markets-report-2021-2028/#respond Thu, 07 Oct 2021 08:08:31 +0000 https://hledam.biz/global-fintech-blockchain-markets-report-2021-2028/ Dublin, 07 Oct 2021 (GLOBE NEWSWIRE) – The report “FinTech Blockchain Market by Application, Provider, Organization Size, and Business Domain – Global Forecast to 2028” has been added to ResearchAndMarkets.com offer. The global FinTech blockchain market is expected to reach $ 36.04 billion by 2028, with a CAGR of 59.9% during the forecast period 2021-2028. […]]]>

Dublin, 07 Oct 2021 (GLOBE NEWSWIRE) – The report “FinTech Blockchain Market by Application, Provider, Organization Size, and Business Domain – Global Forecast to 2028” has been added to ResearchAndMarkets.com offer.

The global FinTech blockchain market is expected to reach $ 36.04 billion by 2028, with a CAGR of 59.9% during the forecast period 2021-2028.

The growth of this market is mainly attributed to the growing need for faster and cheaper cross-border payment systems, increased compatibility with the ecosystem of the financial services industry and the increasing demand for comprehensive security mechanisms are the key factors for the growth. of the FinTech blockchain market. .

On the basis of applications, the cross-border payments, clearing and settlement segment is expected to be the most important segment in terms of market share during the forecast period. The significant share of this segment is mainly attributed to the growing risk of fraud in the payment journey, the growing demand for a superior payment experience, the clarity of payment systems and the growing need to reduce transaction costs.

Based on the size of the organization, the small and medium business segment is expected to grow at the fastest CAGR during the forecast period. The adoption of FinTech blockchain solutions is gaining popularity among small and medium-sized businesses. Small and medium-sized businesses are gradually moving towards FinTech blockchain infrastructure, and this trend is expected to multiply in the years to come.

On a vendor basis, in 2021, the middleware and service provider segment is expected to hold the largest share of the FinTech blockchain market. The growing demand for smart contract services, the growing adoption of sophisticated middleware security solutions, the growing need for account aggregation and financial well-being are the key factors driving the growth of the middleware segment and service providers. .

In 2021, Asia-Pacific is estimated to hold the largest share of the FinTech blockchain market.

However, North America is expected to experience rapid growth during the forecast period. The rapid growth of this region is mainly due to the increasing adoption of cutting-edge technologies across a wide range of industries and the support of government initiatives in the region and investments from leading FinTech blockchain companies.

Main topics covered:

1. Introduction

2. Research methodology

3. Executive summary

4. Impact of Covid-19 on the Fintech Blockchain market

5. Market overview
5.1. introduction
5.2. Market dynamics
5.2.1. Conductors
5.2.1.1. Growing need for faster and cheaper cross-border payment systems
5.2.1.2. High safety and reliability standards
5.2.1.3. Growing demand for regulated trading platform
5.2.1.4. Growing Demand for Know Your Customer (KYC) System on the Blockchain Platform
5.2.2. Constraints
5.2.2.1. Lack of a balanced regulatory framework for Blockchain applications
5.2.3. Opportunities
5.2.3.1. Growing need to improve customer experience in global companies
5.2.3.2. Growing demand for a secure digital payment system that eliminates the need for intermediaries
5.2.4. Challenges
5.2.4.1. Security, privacy and control concerns
5.2.5. Tendencies
5.2.5.1. Increase in DLT offerings by non-traditional financial institutions
5.2.5.2. Digital-only banks
5.3. Case study

6. Blockchain Fintech Market, By Application
6.1. introduction
6.2. Cross-border payments, clearing and settlement
6.3. Smart contract
6.4. Exchanges and discounts
6.5. Compliance management / Know your customer
6.6. Identity management
6.7. Other applications

7. Fintech Blockchain Market, By Supplier
7.1. introduction
7.2. Middleware and service providers
7.3. Basic infrastructure and protocol providers
7.4. Application and solution providers

8. Fintech Blockchain Market, by Organization Size
8.1. introduction
8.2. Large companies
8.3. Small and medium enterprises

9. Fintech Blockchain Market, by Business Area
9.1. introduction
9.2. Payments
9.3. Assurance
9.4. Capital markets
9.5. Commercial Bank
9.6. Regulatory conformity
9.7. Trade and supply chain finance
9.8. Risk management

10. Fintech Blockchain Market, By Geography
10.1. introduction
10.2. North America
10.2.1. we
10.2.2. Canada
10.3. Europe
10.3.1. UK
10.3.2. Germany
10.3.3. France
10.3.4. Italy
10.3.5. Spain
10.3.6. Switzerland
10.3.7. The rest of europe
10.4. Asia Pacific
10.4.1. China
10.4.2. Japan
10.4.3. Singapore
10.4.4. Australia
10.4.5. South Korea
10.4.6. India
10.4.7. Rest of Asia-Pacific
10.5. Latin America
10.5.1. Brazil
10.5.2. Mexico
10.5.3. Rest of Latin America
10.6. Middle East and Africa

11. Competitive landscape
11.1. introduction
11.2. Key growth strategies
11.3. Competitive benchmarking
11.4. Market share analysis (2020)

12. Company profiles (company overview, financial overview, product portfolio, strategic development)
12.1. IBM Company
12.2. Coinbase
12.3. Ripple
12.4. Accenture PLC
12.5. Salt Blockchain, Inc.
12.6. Gemini Trust Company, LLC
12.7. Circle Internet Financial Limited
12.8. Celsius Lending LLC
12.9. Bitgo
12.10. Blockchain.com
12.11. Oracle Corporation
12.12. Chainalysis, Inc.
12.13. Creator Dao
12.14. Robin Hood
12.15. Trust Token
12.16. JP Morgan
12.17. Morgan stanley
12.18. the Goldman Sachs, Inc.
12.19. Axoni
12.20. Token, Inc.
12.21. Amazon Web Services (a subsidiary of Amazon.com, Inc.)

For more information on this report, visit https://www.researchandmarkets.com/r/62xlku

        


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Ocwen (OCN) buys reverse mortgage service platforms and REO https://hledam.biz/ocwen-ocn-buys-reverse-mortgage-service-platforms-and-reo/ https://hledam.biz/ocwen-ocn-buys-reverse-mortgage-service-platforms-and-reo/#respond Wed, 06 Oct 2021 17:38:00 +0000 https://hledam.biz/ocwen-ocn-buys-reverse-mortgage-service-platforms-and-reo/ You are reading Entrepreneur United States, an international Entrepreneur Media franchise. This story originally appeared on Zacks Ocwen Financial CorporationOCN’s wholly owned subsidiary, PHH Mortgage Corporation, enters into the agreement with Reverse Mortgage Solutions, Inc. and its parent company Mortgage Assets Management, LLC.Ocwen acquires the RMS reverse mortgage service platform along with the outstanding interests […]]]>

You are reading Entrepreneur United States, an international Entrepreneur Media franchise. This story originally appeared on Zacks

Ocwen Financial CorporationOCN’s wholly owned subsidiary, PHH Mortgage Corporation, enters into the agreement with Reverse Mortgage Solutions, Inc. and its parent company Mortgage Assets Management, LLC.
Ocwen acquires the RMS reverse mortgage service platform along with the outstanding interests in RMS Real Estate Owned, REO Management Solutions, LLC.
Subject to certain holdbacks and adjustments, the purchase price was $ 12.4 million.
PHH Mortgage is now the sub-contractor under a five-year sub-service agreement for reverse mortgages held by Reverse Mortgage Solutions and Mortgage Asset Management, assuming approximately 350 reverse service and REO Management employees.
Certain outsourcing agreements with third parties were also assigned from Reverse Mortgage Solutions to PHH Mortgage. This led to PHH Mortgage becoming the sub-contractor for approximately 57,000 reverse mortgages or $ 14.3 billion of outstanding principal balance, which was transferred to PHH Mortgage’s reverse service platform upon closing. of the transaction.
Subject to final counterparty approvals and other customary approvals and conditions, PHH Mortgage expects to begin managing its portfolio of 34,000 reverse mortgages or an outstanding principal balance of $ 6.7 billion in the fourth quarter of 2021.
Ocwen President and CEO Glen A. Messina said: “We are very pleased to complete this transaction which triples our total reverse owned and outsourced portfolio and enables additional growth opportunities through a deal. five-year sub-service. The acquisition provides us with a high quality reverse service platform, experienced people and custom reverse reverse technology and supports our strategy of building an internal reverse service platform. We believe this transaction allows us to significantly expand our reverse mortgage portfolio and position us as the only mortgage company to originate, securitize and directly serve clients and clients of reverse mortgages. “
So far this year, shares of Ocwen are down 0.6% from its industry’s 39.3% decline.

– Zack

Zacks investment researchImage source: Zacks Investment Research

Currently Ocwen wears a Zacks Rank # 3 (Hold). You can see The full list of today’s Zacks # 1 Rank (Strong Buy) stocks here.

Competitive landscape

In February of this year, Loan tree TREE announced a partnership with Westlake Technology Holdings to launch an indirect auto loan platform. The move was part of the company’s efforts to allow its consumers to shop and distinguish prequalified indirect car loan rates on its site, LendingTree.com.

Acquisitions by other finance companies

Currently, several finance companies, especially banks, are moving towards consolidation to avoid the increased costs of investing in technology and to counter rate cuts in an effort to remain competitive. For the sake of income diversification, National Bank of the Valley VLY has signed an agreement to acquire Bank Leumi USA, the US banking arm of Bank Leumi Le-Israel BM, for $ 1.15 billion.
In August, Seacoast Banking Corporation of Florida SBCF announced two separate merger agreements, one with Sabal Palm Bancorp, Inc. and the other with Business Bank of Florida, Corp.

Zacks’ top picks for leveraging artificial intelligence

This world-changing technology is expected to generate $ 100 billion by 2025. From self-driving cars to analyzing consumer data, people are relying on machines more than ever. Now is the time to capitalize on the 4th industrial revolution. Zacks’ Urgent Special Report Reveals 6 AI Choices Investors Need To Know Today.

See 6 artificial intelligence stocks with extreme upside potential >>

Want the latest recommendations from Zacks Investment Research? Today you can download 7 best stocks for the next 30 days. Click to get this free report

Ocwen Financial Corporation (OCN): Free share analysis report

LendingTree, Inc. (TREE): Free Stock Analysis Report

Seacoast Banking Corporation of Florida (SBCF): Free Inventory Analysis Report

Valley National Bancorp (VLY): Free Stock Analysis Report

To read this article on Zacks.com, click here.

Zacks investment research


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WeLab and Apple Authorized Resellers Launch “Subscribe + for Apple Products” https://hledam.biz/welab-and-apple-authorized-resellers-launch-subscribe-for-apple-products/ https://hledam.biz/welab-and-apple-authorized-resellers-launch-subscribe-for-apple-products/#respond Wed, 06 Oct 2021 06:10:00 +0000 https://hledam.biz/welab-and-apple-authorized-resellers-launch-subscribe-for-apple-products/ The first such program in Asia Posted: October 6, 2021 at 12:10 am MDT|Update: 39 minutes ago HONG KONG, October 6, 2021 / PRNewswire / – WeLab, a leading fintech company in Asia, Launches Innovative Subscription Program for Purchasing Apple Products from Apple Authorized Resellers – Subscribe + for Apple products. Customers can purchase Apple […]]]>

The first such program in Asia

Posted: October 6, 2021 at 12:10 am MDT|Update: 39 minutes ago

HONG KONG, October 6, 2021 / PRNewswire / – WeLab, a leading fintech company in Asia, Launches Innovative Subscription Program for Purchasing Apple Products from Apple Authorized Resellers – Subscribe + for Apple products. Customers can purchase Apple products through the subscription program using the new Pay WeLab powered by WeLend Platform[1]. For as little as HK $ 204 per month, customers can own the latest iPhone 13 (128GB storage) or HK $ 152 for a MacBook Air (256GB storage). WeLab is the first and only financial services provider in Asia offering this program for the purchase of Apple products. FORTRESS is the first retail partner to offer this unique program seamlessly through its extensive network of over 70 physical branches[2] as well as its online store at Hong Kong.

WeLab and Apple Authorized Resellers Launch “Subscribe + for Apple Products”

Main characteristics of the Subscribe + for Apple products program:

  • Guaranteed trade-in option at the end of the term
  • Deduct the trade-in value up front, making monthly payments as low as $ 58/ month[3] for a 10.2-inch iPad (64 GB of storage), with no hidden fees or other upfront fees
  • From 0% interest rate[4]
  • Customers can continue to enjoy reduced monthly payments on future device upgrades

The The launch of WeLab Pay is our innovative adaptation of the popular subscription model, powered by WeLab technology tailored to customer preferences. In Hong Kong, consumers are always looking for more transparent and better payment options that meet their spending needs. With the launch of Subscribe + for Apple products in Hong Kong, WeLab offers customers, in particular the new generation of – Gen Zers and Millennials — with a game that changes way to buy Apple products with more flexibility in spending. The most unique part of this program is the innovative mechanism – by first deducting the high trade-in value of Apple products[5], before calculating monthly payments, this offers great value and allows low monthly payments for customers. The trade-in value of the device can be carried forward for future upgrades from Apple, creating a perpetual discount on the list price of the device as long as they remain customers of this program.!” noted Simon loong, the founder and CEO of the WeLab group.

“FORTRESS is committed to providing an innovative O + O shopping experience to meet customer needs and stay up to date with their lifestyles and purchasing behaviors. We are delighted to strengthen our partnership with WeLab, offering this first on the market Subscribe + program for Apple products to our customers with a flexible and seamless integration of the O + O shopping and payment experience. Customers can visit our FORTRESS stores and online store to bring their favorite Apple products home, school or office by subscribing to this plan for great convenience and payment flexibility. At the end of the plan period, customers can return their device to FORTRESS and renew it with the latest models, or keep their device by paying the trade-in value “, noted Clarice Au, general manager of FORTERESSE.

Subscribe to Subscribe + for Apple products online is quick and easy, via the WeLab Pay platform and will only take around 5 minutes at a point of sale. Customers can design their plans based on their needs and the approved expense credit. For iPhone and Apple Watch, WeLab offers a 24-month subscription period. For iPad and Mac, the subscription term is 36 months. At the end of the subscription period, customers can either renew the program and upgrade to a newer model by simply swapping the device; keep their devices by reimbursing the trade-in value and the last amount of the monthly payment; or simply return their devices to participating Authorized Apple Resellers with trade-in value.

Please refer to the official website for full details and terms and conditions – https://subscribe-plus-for-apple-products.welend.hk/en/.

About WeLab

WeLab, a leading fintech company in Asia, operates one of the first digital banks licensed in Asia – WeLab Bank, as well as multiple online financial services with leading positions in Hong Kong, Mainland China and Indonesia, with nearly 50 million individual users and more than 700 corporate clients. WeLab uses revolutionary technology to help customers access credit, save money, and enjoy their financial journey.

Leveraging proprietary risk management technology, patented privacy techniques and advanced AI capabilities, WeLab offers mobile-based consumer finance solutions and digital banking services to individuals and technological solutions for corporate clients.

WeLab operates in three markets under seven key brands, including WeLend and WeLab Bank in Hong Kong, WeLab Digitame, TaoxinjI, Gug walletyou, and Tianmian TecHellon Mainland China and Maucash in Indonesia.

WeLab is backed by the most renowned investors including Allianz, China Construction Bank International, International Finance Corporation (part of the World Bank Group), Malaysian sovereign wealth fund Khazanah Nasional Berhad, TOM group of CK Hutchison and Sequoia Capital.

To learn more, please visit: www.welab.co, or follow WeLab on LinkedIn and Facebook.

For media inquiries:

Communication team
Email: pr@welab.co

[1] The official name of the WeLab Pay platform is “WeLab Pay powered by WeLend”.

[2] The “Subscribe + for Apple Products” program will be gradually rolled out in FORTRESS stores, starting with 22 stores designated in the first phase.

[3] On the purchase of a 10.2-inch iPad (64GB storage) at a retail price of HK $ 2,599.

[4] The actual monthly payment is subject to interest that may be payable under the program based on your credit score.

[5] Trade-in eligibility and trade-in value will vary depending on the actual condition and extent of damage to the device (s).

View original content to download multimedia:

SOURCE WeLab

The above press release has been provided courtesy of PRNewswire. The views, opinions and statements contained in the press release are not endorsed by Gray Media Group and do not necessarily state or reflect those of Gray Media Group, Inc.


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Beware of These 5 Top Performing S&P 500 Banks From Q3 https://hledam.biz/beware-of-these-5-top-performing-sp-500-banks-from-q3/ https://hledam.biz/beware-of-these-5-top-performing-sp-500-banks-from-q3/#respond Tue, 05 Oct 2021 14:56:02 +0000 https://hledam.biz/beware-of-these-5-top-performing-sp-500-banks-from-q3/ Bank stocks remain a favorite for investors after a turbulent 2020. In the third quarter of 2021, the S&P Banks Select Industry Index rose 3.1%, down from nearly 12% last year. One of the key themes in the third quarter of the year was the Federal Reserve’s likely hawkish stance. At the end of the […]]]>

Bank stocks remain a favorite for investors after a turbulent 2020. In the third quarter of 2021, the S&P Banks Select Industry Index rose 3.1%, down from nearly 12% last year.

One of the key themes in the third quarter of the year was the Federal Reserve’s likely hawkish stance. At the end of the two-day FOMC meeting on September 22, the central bank signaled that interest rates could rise at the end of 2022, a year earlier than expected, and an official decision to cut purchases of The bonds could be announced in the November 2021 meeting, if recovery progress remains on track.

Apart from that, the continued expectation of an impressive economic rebound has led to bullish sentiments from investors. The Fed, in its latest summary of economic projections, noted that the US economy will grow 5.9% in 2021. Steadily declining jobless claims, a strong real estate market, and growing consumer confidence are just a few. one of the main factors that will continue to keep the economy going.

While interest rates will remain at near zero levels at least for now, the Fed hinting at rate hikes by the end of 2022 will support bank finances over time. In addition, as the economic recovery gains momentum, the demand for loans (which had been weak so far) will increase.

The steepening of the yield curve (the difference between short and long term interest rates) is likely to support banks’ net interest margin. Although the yield on 10-year US Treasury bonds of 1.49% at the end of September was relatively stable on a sequential basis, it increased by 57 basis points from 0.92% at the end of 2020. Thus, net interest income – which constitutes a large part of bank income – will receive some support.

Banks are also undertaking business rationalization / expansion initiatives (both domestic and international). These efforts are likely to support their sources of fee income and lead to revenue growth.

Following the Fed’s approval after completing this year’s stress tests in June, the big banks announced robust capital deployments (including dividend hikes and share buybacks) starting in the third quarter 2021. This indicates that banks are able to withstand micro / macroeconomic shocks, stay well above regulatory capital requirements and return more capital to shareholders. It has also instilled investor confidence in the banking sector.

5 best performing bank stocks in the S&P 500

While most banking investors have had much to celebrate over the past three months, some stocks have outperformed others. The biggest winners of the S&P 500 index were Zions Bancorporation IF WE, SVB Financial SIVB, Comerica CMA, Fifth Third Bancorp FITB as well as Huntington Bancshares HBAN.

In the third quarter of 2021, these stocks significantly outperformed the 3.9% rise in the S&P 500 Index (the worst quarter of the index since March 2020) and the 2.3% growth in the Zacks Finance sector.

Price performance in the third quarter

Zacks investment research

Image source: Zacks Investment Research

Here is a brief description of the five bank stocks mentioned above:

If we : Based in Salt Lake City, Utah, Zions is a diverse financial services provider, operating an extensive network of nearly 430 bank offices. Its footprint spans 11 western states: Utah, Idaho, California, Nevada, Arizona, Colorado, Texas, New Mexico, Washington, Oregon and Wyoming .

Strong loans, a strong financial position, and business simplification initiatives will continue to support Zions. The bank’s strong non-interest bearing deposit balance also helps its finances. The company’s initiatives to efficiently deploy the capital generated by these deposits and expectations of a gradual increase in loan demand will likely support income growth despite falling rates.

Zions’ capital deployment activities remain impressive. In July, this company Zacks Rank # 3 (Hold) declared an 11.7% increase in its quarterly dividend, while in August, the bank authorized additional share buybacks of $ 200 million, after having achieved $ 125 million (announced in July) for the repurchase authorization initially scheduled for the third quarter of 2021.

You can see The full list of today’s Zacks # 1 Rank (Strong Buy) stocks here.

Zions shares gained 17.1% in the third quarter of 2021. For the quarter, Zacks’ consensus estimate of earnings of $ 1.38 per share was revised 1.5% north over the past seven last days.

SVB Financial: Headquartered in Santa Clara, California, SVB Financial is a diversified financial services company. Established in 1999, it operates through, among others, Silicon Valley Bank, its main subsidiary, offering a wide range of banking and financial products and services.

SVB Financial remains focused on its organic growth strategy, as evidenced by the steady increase in loans, deposits and net interest income in recent years. The company is making efforts to expand globally.

SVB Financial is growing through strategic buyouts, which will continue to support its position as a leading provider of innovative corporate finance solutions. In July, the company acquired Boston Private Financial Holdings, Inc., which will further strengthen its private banking and wealth management offerings. In December 2020, it had acquired the debt investing business of WestRiver Group and in 2019 the company acquired Leerink Holdings LLC, now renamed SVB Leerink.

During the June-September quarter, the shares of this Zacks Rank # 3 share gained 16.3%. Additionally, for the third quarter of 2021, Zacks’ consensus estimate of $ 5.11 per share has risen slightly over the past seven days.

Comeric: Based in Dallas, Texas, Comerica provides banking and financial services in three main geographic markets: Texas, California, Michigan, and Arizona and Florida. In addition, the company operates in many other US states, as well as Canada and Mexico.

Comerica’s focus on improving operational efficiency led to the introduction of GEAR Up initiatives in mid-2016. Since the implementation of this initiative, the bank has consolidated many banking centers, significantly reduced pension expenses and laid off a number of employees. These efforts have resulted in an improvement in the efficiency ratio and return on equity over time.

Comerica remains focused on the revenue growth strategy. With the gradual recovery of loan commitments, the strong loan pipeline and the economic recovery, the Company’s loan balance is expected to continue to improve, fueling growth in net interest income.

A manageable level of debt, superior long-term credit ratings, a strong balance sheet and impressive credit standing are other catalysts supporting Comerica. In addition, the capital deployment activities of this Zacks Rank # 3 company are encouraging and sustainable.

Over the past three months, the stock has gained 12.9%. For the third quarter of 2021, Zacks’ consensus estimate of earnings of $ 1.66 per share has remained unchanged for the past seven days.

Fifth Third Bancorp: With assets of $ 205 billion, Fifth Third Bancorp, based in Cincinnati, HO, has 1,096 full-service banking centers in 10 states in the Midwestern and Southeastern regions of the United States.

Its expansion of the non-interest income base over the years through strategic partnerships and acquisitions in different sectors such as healthcare (including the acquisition of Coker Capital in 2020 and the takeover of Provide in August 2021) will support vertical markets and generate revenue. growth, expense savings as well as operational excellence.

In addition, the company remains focused on optimizing branches to strengthen its presence in high growth markets. In fact, Fifth Third Bancorp is reallocating its branch network to improve its presence in the Southeast and decrease its presence in the Midwest. Thus, nearly 25 branch openings per year until 2025 are targeted, while the bank is in the process of closing 42 additional branches by January 2022 (mainly in the Midwest).

In addition, a strong balance sheet and superior long-term credit ratings from major rating agencies should continue to support the growth of the business. Additionally, Fifth Third Bancorp’s sustainable capital deployments reflect a strong liquidity position and will continue to increase shareholder value.

Shares of this company Zacks Rank # 3 rose 11.1% for the third quarter of the year. Zacks’ consensus estimate of 90 cents per share for the quarter has remained unchanged for the past seven days.

Huntington Bancshares: Columbus, OH, Huntington Bancshares is a diversified multi-state regional banking holding company. Its inorganic expansion is shifting, and growth in loan and deposit balances is expected to drive long-term growth.

Huntington Bancshares is well positioned to grow through strategic buyouts given the strong liquidity. Over the past few years, it has broadened its footprint with a number of acquisitions. Last June, Huntington Bancshares completed the merger with TCF Financial Corporation to form one of the 25 largest US banking holding companies.

The agreement, along with others, has strengthened the company’s position in existing markets, established a presence in new markets and combined complementary activities. Thus, such opportunistic acquisitions will allow Huntington Bancshares to achieve significant synergies and fuel its growth. In addition, the normalization of asset quality (following the chaos associated with COVID 2020), a strong liquidity position and the economic recovery are expected to continue to support the company’s finances.

During the June-September quarter, the stock appreciated 8.4%. Zacks’ consensus estimate of 37 cents per share for the third quarter has remained unchanged for the past seven days.

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Heritage Financial announces E – GuruFocus.com https://hledam.biz/heritage-financial-announces-e-gurufocus-com/ https://hledam.biz/heritage-financial-announces-e-gurufocus-com/#respond Mon, 04 Oct 2021 23:00:41 +0000 https://hledam.biz/heritage-financial-announces-e-gurufocus-com/ OLYMPIA, Washington, October 4, 2021 OLYMPIA, Wash., October 4, 2021 / PRNewswire / – Heritage Financial Corporation (“Company” or “Heritage”) (Nasdaq: HFWA) Expects to Release Third Quarter Results on Thursday, October 21, 2021 before the market opens. The Company has scheduled a conference call to discuss the third quarter on Thursday, October 21, 2021 To […]]]>

OLYMPIA, Washington, October 4, 2021

OLYMPIA, Wash., October 4, 2021 / PRNewswire / – Heritage Financial Corporation (“Company” or “Heritage”) (Nasdaq: HFWA) Expects to Release Third Quarter Results on Thursday, October 21, 2021 before the market opens. The Company has scheduled a conference call to discuss the third quarter on Thursday, October 21, 2021 To 11:00 am Pacific Time (2:00 p.m. Eastern Time).

To access the conference call, call the numbers below:

Live conference call

(844) 200-6205

Access code 212793

Replay of the conference call

(866) 813-9403

Access code 056393

The conference call will be recorded and will be available after the live conference call for a 24 hour replay ending October 28, 2021. Questions regarding the conference call can be directed to Kaylene lahn at 360-943-1500.

About Heritage Financial
The Heritage Financial Corporation is a Olympiabanking holding company with Heritage Bank, a full-service commercial bank, as its only wholly-owned banking subsidiary. Heritage Bank has a branch network of 53 bank branches in Washington and Oregon. Heritage Bank also operates as Whidbey Island Bank on Whidbey Island. Heritage shares trade on the NASDAQ Global Select Market under the symbol “HFWA”. More information about Heritage Financial Corporation can be found on its website at www.hf-wa.com and more information about Heritage Bank can be found on its website at www.heritagebanknw.com .

View original content: https://www.prnewswire.com/news-releases/heritage-financial-announces-earnings-release-date-and-conference-call-301392329.html

SOURCE Heritage Financial Corporation


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The complex art of restructuring https://hledam.biz/the-complex-art-of-restructuring/ https://hledam.biz/the-complex-art-of-restructuring/#respond Sun, 03 Oct 2021 22:30:00 +0000 https://hledam.biz/the-complex-art-of-restructuring/ Somchai: positive on partnerships Large companies are becoming service providers, abandoning their traditional businesses by relying on digital technology and strong partners to gain a competitive advantage in the hope of becoming major regional players. In the latest transformation case, Siam Commercial Bank (SCB) recently announced a restructuring to achieve an ambitious goal of becoming […]]]>

Somchai: positive on partnerships

Large companies are becoming service providers, abandoning their traditional businesses by relying on digital technology and strong partners to gain a competitive advantage in the hope of becoming major regional players.

In the latest transformation case, Siam Commercial Bank (SCB) recently announced a restructuring to achieve an ambitious goal of becoming a major digital platform service provider under its new parent company – SCB X – as well as a conglomerate regional FinTech by 2025, with the goal of serving 200 million customers.

SCB plans to create SCB X to own the operational entities of the group, including SCB. The move aims to create flexibility in operations and better service for a diverse set of clients.

SCB Managing Director Arthid Nanthawithaya said the company should no longer limit itself to traditional banking, but rather leverage its financial strength to accelerate its aggressive expansion into other types of financial enterprises, develop technological capabilities and manage a large technological platform to keep pace with global players.

SCB plans to create a parent company SCB X to own the operational entities of the group, including SCB.

He said entering this new arena quickly was crucial to survive for the next 3-5 years.

The country’s fourth-largest bank in terms of total assets also plans to create business units and create new digital branches under SCB X, which will act as the mother ship for the SCB financial group.

As the partnership is a key strategy to develop the group, SCB recently announced three partnership agreements. One is with Advanced Info Service Plc (AIS) to set up a 50:50 joint venture – AISCB – to provide digital loans through an online platform.

More and more complex

According to the Bank of Thailand, the new structure of SCB Group is not new – it has been around for some time in the Thai and global banking sectors. The central bank does not oppose the restructuring as long as this decision ensures better services and fair treatment for customers.

The Financial Institutions Act empowers the central bank to supervise and review groups of financial enterprises, including their parent companies, subsidiaries and joint ventures.

SCB has yet to submit a formal request for approval to the Bank of Thailand for the restructuring after SCB shareholders approve the move.

SCB has scheduled an extraordinary general meeting of shareholders on November 15 to seek approval for the restructuring. The bank is expected to seek central bank clearance for the restructuring in November, with the Bank of Thailand due to make a decision in December or January.

According to Fitch Ratings, the restructuring of the SCB group is part of the trend of Thai banks to become more complex financial groups.

Thailand’s banking sector faces a prolonged environment of low growth and low interest rates that inhibits growth opportunities in traditional banking segments, leading to several transformative mergers and acquisitions over the past two years, the agency said. rating.

Telecom with new services

Telecoms are a key sector where players are turning into service providers of daily life by capitalizing on digital power.

More cross-sector partnerships are expected from telecom operators in the future to secure their revenue streams against a backdrop of rapid changes in consumer behavior.

The core telecom infrastructure business of operators could decline as digital lifestyles could be fueled by a disruptor, said Somchai Lertsutiwong, managing director of AIS.

As for AISCB, this is the country’s first joint venture between banking and telecommunications players to engage in digital banking services, including a digital lending platform, Mr. Somchai said. . This is the most appropriate model for a partnership that serves the strategy of AIS, he said.

Some carriers have only engaged in co-marketing campaigns with players in other sectors, or have branched out into other companies in a different segment, Mr. Somchai said.

“The joint venture model is the highest level of partnership, allowing both parties the flexibility to extend their reach outside of their traditional activities,” he said.

The model makes it easier for commercial banks, which are governed by the central bank, to run new businesses and add value to their existing funds and operations, Mr. Somchai said.

AIS chose to form a joint venture with SCB instead of partnering with a non-bank organization, as the latter is unlikely to meet the long-term growth of AIS’s business, he said. .

“A good partnership model is one in which each part lacks different elements and we complement each other,” Mr. Somchai said.

AIS believes that the strength of the bank lies in the lending sector and that AISCB should benefit from low financing costs for granting loans.

Mr. Arthid believes that SCB should no longer limit itself to traditional banking activities.

Non-bank companies are at a disadvantage in terms of financing costs, especially when developing their businesses for the long term, he said.

AIS has been developing its digital credit scoring model through a data analysis system for the past five years, Mr. Somchai said. Nanofinance services require accurate data, especially the personal credit scores of consumers who apply for loans, he said.

In June, AIS had 43.2 million subscribers. SCB has 12.4 million customers using its SCB Easy application.

Daily service platform

Mr Somchai said mobile services accounted for 85% of AIS’s revenue, but that proportion is expected to drop to 70% by 2024. The rest comes from fixed broadband, corporate and digital businesses.

“Telecommunications or other companies that provide service to the masses must become a provider of everyday service platform that people use regularly,” he said.

Even with mobile services as the main long-term business, AIS has strived to develop digital platforms to take advantage of changes in people’s lifestyles, Mr. Somchai said.

He said AIS wanted to branch out into video entertainment, games, manufacturing, retail and healthcare.

In April, AIS launched a virtual mall – V-Avenue.Co – to provide a new shopping experience for customers using virtual reality (VR) technology.

The company has also expanded its presence by entering the digital insurance market through partnerships with insurance companies.

AIS is now exploring opportunities for smart health services, Mr. Somchai said.

“Smart healthcare is an innovation mega-trend embraced in people’s daily lives,” he said.

Positive movement

According to an analysis by Kasikorn Securities (KS), AIS could use AISCB’s digital lending platform to make it easier for its mid-to-lower level clients to upgrade to smart devices. This in turn could increase customer loyalty.

AIS customers could have better access to financial services and a competitive borrowing rate through its customer database and analysis of its credit profile, KS said. AIS will also be able to provide funding to its resellers and distributors through a nanofinance program, KS said.

However, KS indicated that AIS could incur losses from the joint venture in the early stages.

AISCB’s direct competitor is Line BK, a social banking platform partnership between Kasikornbank and Line Corporation. Line BK has a total loan portfolio estimated at 9 billion baht.

KS said AIS’s expansion in financial services is clearly a “positive” move in terms of market sentiment.

Speed ​​and focus

Voralak Tulaphorn, director of marketing at The Mall Group Co, said domestic retail operators have gradually adjusted their businesses after feeling the effects of the digital disruption.

She said the pandemic has made speed and focus using agile management the focus to increase the competitiveness of retailers.

“Collaboration will be another area we prioritize to build a new retail ecosystem. Synergy with partners helps products and services have a stronger impact on customers,” said Ms. Voralak.

She said that with changing customer demand and digitization, the retail market will see a new fragmented model for serving personalized shopping.

For The Mall, the company will continue to transform the design of its store at each location to serve the customer journey, in addition to offering new customer services, said Ms. Voralak.


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Old Republic International Corporation (NYSE: ORI) fundamentals look pretty solid: Could the market be wrong about the stock? https://hledam.biz/old-republic-international-corporation-nyse-ori-fundamentals-look-pretty-solid-could-the-market-be-wrong-about-the-stock/ https://hledam.biz/old-republic-international-corporation-nyse-ori-fundamentals-look-pretty-solid-could-the-market-be-wrong-about-the-stock/#respond Sat, 02 Oct 2021 14:25:49 +0000 https://hledam.biz/old-republic-international-corporation-nyse-ori-fundamentals-look-pretty-solid-could-the-market-be-wrong-about-the-stock/ With its stock down 9.3% in the past month, it’s easy to overlook Old Republic International (NYSE: ORI). However, stock prices are usually determined by a company’s long-term financial performance, which in this case looks quite promising. In this article, we’ve decided to focus on Old Republic International’s ROE. Return on equity or ROE is […]]]>

With its stock down 9.3% in the past month, it’s easy to overlook Old Republic International (NYSE: ORI). However, stock prices are usually determined by a company’s long-term financial performance, which in this case looks quite promising. In this article, we’ve decided to focus on Old Republic International’s ROE.

Return on equity or ROE is a test of how effectively a company increases its value and manages investor money. In other words, it reveals the company’s success in turning shareholders’ investments into profits.

Check out our latest analysis for Old Republic International

How to calculate return on equity?

ROE can be calculated using the formula:

Return on equity = Net income (from continuing operations) ÷ Equity

So, based on the above formula, the ROE for Old Republic International is:

23% = US $ 1.6 billion ÷ US $ 6.8 billion (based on the last twelve months to June 2021).

The “return” is the amount earned after tax over the past twelve months. One way to conceptualize this is that for every $ 1 of shareholder capital it has, the company has made $ 0.23 in profit.

Why is ROE important for profit growth?

So far, we’ve learned that ROE measures how efficiently a business generates profits. Based on the portion of its profits that the company chooses to reinvest or “keep”, we are then able to assess a company’s future ability to generate profits. Assuming everything else remains the same, the higher the ROE and profit retention, the higher the growth rate of a business compared to businesses that don’t necessarily have these characteristics.

A side-by-side comparison of Old Republic International’s profit growth and 23% ROE

For starters, Old Republic International has a pretty high ROE, which is interesting. Second, even compared to the industry average of 12%, the company’s ROE is quite impressive. This likely laid the foundation for Old Republic International’s moderate 19% net income growth seen over the past five years.

In the next step, we compared Old Republic International’s net income growth with the industry and luckily we found that the growth observed by the company is higher than the industry average growth of 13 %.

NYSE: ORI Past Profit Growth October 2, 2021

Profit growth is an important metric to consider when valuing a stock. It is important for an investor to know whether the market has factored in the expected growth (or decline) in company earnings. This will help them determine whether the future of the stock looks bright or threatening. Has the market taken into account the future prospects of ORI? You can find out in our latest Intrinsic Value infographic research report.

Is Old Republic International Efficiently Reinvesting Its Profits?

With a median payout rate of 35% over three years (implying that the company keeps 65% of its profits), it looks like Old Republic International is reinvesting effectively so as to see respectable profit growth and pay a dividend. which is well covered.

In addition, Old Republic International has paid dividends over a period of at least ten years, which means the company is very serious about sharing its profits with its shareholders. After studying the latest consensus data from analysts, we found that the company is expected to continue to pay out around 37% of its profits over the next three years.

Summary

Overall, we are quite happy with the performance of Old Republic International. In particular, it is great to see that the company is investing heavily in its business and with a high rate of return, which has resulted in significant growth in its profits. However, according to the latest forecast from industry analysts, the company’s profits are expected to decline in the future. To learn more about the latest analyst forecast for the business, check out this visualization of the analyst forecast for the business.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts using only unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell shares and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative documents. Simply Wall St has no position in the mentioned stocks.

Do you have any feedback on this item? Are you worried about the content? Get in touch with us directly. You can also send an email to the editorial team (at) simplywallst.com.

When trading Old Republic International or any other investment, use the platform considered by many to be the gateway for professionals to the global market, Interactive Brokers. You get the cheapest * trading on stocks, options, futures, forex, bonds and funds from around the world from a single integrated account.Promoted


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HYZN DEADLINE: Hyzon Motors Inc. Investors with Substantial Losses Have Class Action Option https://hledam.biz/hyzn-deadline-hyzon-motors-inc-investors-with-substantial-losses-have-class-action-option/ https://hledam.biz/hyzn-deadline-hyzon-motors-inc-investors-with-substantial-losses-have-class-action-option/#respond Sat, 02 Oct 2021 13:05:00 +0000 https://hledam.biz/hyzn-deadline-hyzon-motors-inc-investors-with-substantial-losses-have-class-action-option/ SAN DIEGO, October 2, 2021 / PRNewswire / – Robbins Geller Rudman & Dowd LLP announces that the buyers or acquirers of Hyzon Motors Inc. f / k / a Decarbonization Plus Acquisition Corporation (NASDAQ: HYZN; HYZNW) have traded securities between February 9, 2021 and September 27, 2021, inclusive (the “Recourse Period”) until November 29, […]]]>

SAN DIEGO, October 2, 2021 / PRNewswire / – Robbins Geller Rudman & Dowd LLP announces that the buyers or acquirers of Hyzon Motors Inc. f / k / a Decarbonization Plus Acquisition Corporation (NASDAQ: HYZN; HYZNW) have traded securities between February 9, 2021 and September 27, 2021, inclusive (the “Recourse Period”) until November 29, 2021 to seek appointment as principal applicant in the Hyzon Engines class action lawsuit. The Hyzon Engines The class action lawsuit accuses Hyzon Motors and some of its senior executives of violations of the Securities Exchange Act of 1934. Hyzon Engines a class action lawsuit was initiated on September 30, 2021 in the western district of new York and is subtitled Kauffmann v. Hyzon Motors Inc. f / k / a Decarbonization Plus Acquisition Corporation, n ° 21-cv-06612.

If you wish to serve as the principal applicant of the Hyzon Engines class action lawsuit, please provide your information by clicking here. You can also contact attorney JC Sanchez de Robbins Geller by calling 800 / 449-4900 or emailing [email protected]. The principal applicant’s requests for the Hyzon Engines the class action must be filed with the court at the latest November 29, 2021.

CASE ALLEGATIONS: At February 9, 2021, Hyzon Motors issued a press release titled “Hyzon Motors, Leading Hydrogen Fuel Cell Heavy Vehicle Company, Announces Business Combination with Decarbonization Plus Acquisition Corporation; the combined company is expected to be listed on the Nasdaq ”. At July 16, 2021, the merger between Decarbonization Plus Acquisition Corporation – a special purpose acquisition vehicle, also known as “SPAC” or blank check company – and Hyzon Motors United States Inc. f / k / a Hyzon Motors Inc. closed. On that date, Decarbonization Plus Acquisition Corporation changed its name to Hyzon Motors Inc. and the July 19, 2021, the common shares of Hyzon Motors began trading on the NASDAQ under the symbol “HYZN” and the Hyzon Motors warrants began to trade under the symbol “HYZNW”. Prior to the merger, the securities of Hyzon Motors were traded on the NASDAQ under the ticker symbols “DCRBU” for the Units, “DCRB” for the Common Shares and “DCRBW” for the Warrants.

The Hyzon Engines The class action alleges that, throughout the Class Period, the Defendants made false and misleading statements and failed to disclose that: (i) Hyzon Motors distorted the nature of its “customer” contracts and severely embellished its “ agreements ”and“ partnerships ”with clients; (ii) Hyzon Motors was unable to deliver its vehicles announced in 2021, within the announced deadlines; and (iii) accordingly, the defendants’ public statements were materially false and / or misleading at all relevant times.

At September 28, 2021, market analyst Blue Orca Capital published a report on Hyzon Motors revealing, among other things, that: (i) “Hyzon’s biggest customer is a fake Chinese Shell entity formed 3 days before the announcement of the OK ” ; (ii) “Channel checks reveal that the next most important customer isn’t really a customer”; and (iii) “Reputable ghost customers suggest overestimated orders and financial projections”. On this news, shares of Hyzon Motors fell about 28%, hurting investors.

Robbins Geller Rudman & Dowd LLP launched a dedicated SPAC Task Force to protect investors in blank check companies and seek redress for malpractice. Comprised of experienced litigators, investigators and forensic accountants, the PSPC task force is dedicated to eradicating and prosecuting fraud on behalf of aggrieved PSPC investors. The increase in blank check financing presents unique risks for investors. Robbins Geller’s PSPC Working Group represents the forefront of integrity, honesty and fairness in this rapidly developing area of ​​investment.

THE MAIN COMPLAINANT PROCESS: The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Hyzon Motors securities during the Recourse Period to seek appointment as principal plaintiff in the Hyzon Engines class action lawsuit. A principal plaintiff is generally the plaintiff with the greatest financial interest in the remedy sought by the putative class which is also typical and adequate of the putative class. A principal applicant acts on behalf of all other class members by ordering Hyzon Engines class action lawsuit. The lead plaintiff can choose a law firm of their choice to argue the case. Hyzon Engines class action lawsuit. The ability of an investor to participate in any potential future recovery of the Hyzon Engines the class action does not depend on the function of principal plaintiff.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices across the country, Robbins Geller Rudman & Dowd LLP is the largest US law firm representing investors in securities class actions. Robbins Geller lawyers have secured many of the largest shareholder recoveries in history, including the largest securities class action recovery ever – $ 7.2 billion – in In re Enron Corp. Dry. Litigation. 2020 ISS Securities Class Action Services Top 50 report ranked Robbins Geller # 1 for recovery $ 1.6 billion for investors last year, more than double the amount recovered by any other company from securities claimants. Please visit http://www.rgrdlaw.com for more information.

Lawyer advertising.
Past results do not guarantee future results.
Services can be performed by lawyers in one of our offices.

Contact:

Robbins Geller Rudman & Dowd LLP
655 West Broadway, San Diego, CA 92101
JC Sanchez, 800-449-4900
[email protected]

SOURCE Robbins Geller Rudman & Dowd LLP

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Pareteum Corporation Announces Review of Strategic Alternatives and Commitment of FTI Capital Advisors https://hledam.biz/pareteum-corporation-announces-review-of-strategic-alternatives-and-commitment-of-fti-capital-advisors/ https://hledam.biz/pareteum-corporation-announces-review-of-strategic-alternatives-and-commitment-of-fti-capital-advisors/#respond Fri, 01 Oct 2021 21:00:00 +0000 https://hledam.biz/pareteum-corporation-announces-review-of-strategic-alternatives-and-commitment-of-fti-capital-advisors/ NEW YORK, October 1, 2021 / PRNewswire / – Pareteum Company (OTC: TEUM) (“Pareteum” or the “Company”), a global Cloud Communications-Platform-as-a-Service (CPaaS) company, today announced that due to continued liquidity needs, it intends to assess a range of strategic alternatives. These strategic alternatives include, but are not limited to, sale or other business combinations, financing […]]]>

NEW YORK, October 1, 2021 / PRNewswire / – Pareteum Company (OTC: TEUM) (“Pareteum” or the “Company”), a global Cloud Communications-Platform-as-a-Service (CPaaS) company, today announced that due to continued liquidity needs, it intends to assess a range of strategic alternatives. These strategic alternatives include, but are not limited to, sale or other business combinations, financing and / or restructuring transactions.

Pareteum engaged FTI Capital Advisors, LLC to assist with the valuation process.

Marie Beth Vitale, Chairman of the Board of Directors of the Company, said: “Our board has determined that it is prudent at this time to undertake this strategic review to ensure that all alternatives available to the Company are evaluated. Pareteum will remain focused on our customers, suppliers, employees and other stakeholders, while continuing to manage day-to-day operations as usual while it evaluates these alternatives. “

The Company has not set a timeline for the conclusion of its review of strategic alternatives, and it does not intend to comment further unless and until a specific action plan has been approved or the Company has otherwise determined that further disclosure is appropriate or required and in accordance with the requirements of applicable securities laws.

About Pareteum Corporation

Pareteum is a cloud-based software communication platform company whose mission is to connect everything and everything.MT. As a global provider of Communication as a Service (CPaaS) platform solutions with operations in North America, Latin America, Europe, Middle East and Africa, and Asia Pacific regions, Pareteum gives businesses, communications service providers, startup innovators, developers, Internet of Things (IoT) and telecommunications infrastructure providers the freedom and control to create, deliver and develop innovative communication experiences. The Pareteum platform connects people and devices around the world using the secure, ubiquitous and highly scalable solution to deliver data, voice, video, SMS / text messages, media and contents. For more information, visit www.pareteum.com and follow the company on LinkedIn.

Forward-looking statements
Certain statements contained in this document constitute “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Except for historical matters, the matters discussed in this press release are forward-looking statements. We have based these forward-looking statements on our current expectations and projections regarding future events. Forward-looking statements are generally identified by words such as “believe”, “expect”, “anticipate”, “intend”, “estimate”, “plan”, “plan”, “should”, “Will”, “should” and other similar expressions. In addition, any statement that refers to expectations or other characterizations of future events or circumstances are forward-looking statements. However, our actual results may differ materially from those contained in, or implied by, these forward-looking statements. Factors that could cause actual results to differ materially from those of forward-looking statements include, but are not limited to: risks and uncertainties associated with integrating assets and transactions that we have acquired and that we may acquire in the future ; our possible inability to raise additional capital that will be required to expand our operations; the substantial doubt about our ability to continue our activity expressed in the last report on our audited financial statements; our potential lack of revenue growth; the length of our sales cycle; ongoing SEC investigations and other legal proceedings; the epidemic and the impact of the novel coronavirus (COVID-19) on the global economy and our activities; our potential inability to add new products and services that will be necessary to generate increased sales; our potential inability to successfully develop and market any platforms or services or our inability to obtain adequate funding to operate or grow our business; our ability to successfully remedy material weaknesses in our internal control over financial reporting on time and in the manner currently anticipated; the effectiveness of our internal control over financial reporting, including the identification of additional control weaknesses; risks relating to restrictions and covenants on our convertible debt facility that could adversely affect our business; risks associated with our current non-compliance with certain terms of our senior secured convertible debt; our potential loss of key personnel and our ability to find qualified personnel; international, national, regional and local economic political changes, political risks and risks associated with global tariffs and import / export regulations; fluctuations in foreign currency exchange rates; our potential inability to use and protect our intellectual property; risks associated with our continued investment in research and development, product defects or software errors, or cybersecurity threats; general economic and market conditions; regulatory risks and the potential consequences of non-compliance with applicable laws and regulations; increases in operating expenses associated with the growth of our operations; risks relating to our share capital, including the potentially dilutive effect of issuing additional shares and the fact that shares eligible for future sale could have an adverse effect on the market for our common shares; the possibility of changes in telecommunications tariffs and technological changes; disruptions to our networks and infrastructure; the potential for increased competition and the risks associated with competing with major competitors who are bigger than us; our positioning in the market as a small supplier; risks resulting from the restatement of some of our financial statements; and other risks discussed in our Form 10-K for the year ended December 31, 2020. Except to the extent required by applicable laws or rules, we assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor Reports:
Investor Relations +1 (646) 975-0400
[email protected]

Media Surveys:
[email protected]

SOURCE Pareteum Corporation

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