Wright Investors’ Service Holdings, Inc. Completes Sale of The Winthrop Corporation

GREENWICH, Conn.–()–Wright Investors’ Service Holdings, Inc. (OTC Pink Sheets: WISH) announced the completion today of the sale of 100% of the issued and outstanding common stock of The Winthrop Corporation (Winthrop), a wholly owned subsidiary of WISH, to Khandwala Capital Management, Inc., a company principally owned and controlled by Amit S. Khandwala, the current Co-Chief Executive Officer and Chief Investment Officer of Winthrop. Winthrop, through its wholly owned subsidiary Wright Investors’ Service, Inc., is an investment management and financial advisory firm.

WISH received $6,000,000 in cash upon the closing of the sale. The sale was approved by the WISH stockholders on July 16, 2018 at the annual stockholders meeting.

Please refer to WISH’s filing on Form 8-K with the Securities and Exchange Commission for further information relating to the transaction.

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Bank of America Corporation a déposé un Formulaire 8-K

CHARLOTTE, Caroline du Nord–()–Bank of America Corporation (la « Société ») a informé ses actionnaires qu’un rapport de situation ponctuelle avait été déposé sur formulaire 8-K auprès de la Commission des valeurs mobilières des États-Unis (« SEC ») le 16 juillet 2018, annonçant les résultats financiers pour le deuxième trimestre clos au 30 juin 2018, déclarant un bénéfice net de 6,8 milliards USD, soit 0,63 USD par action diluée, pour le deuxième trimestre.

Principaux résultats financiers du T2 20181 (comparaisons établies en glissement annuel par rapport au même trimestre de l’exercice précédent, sauf indication contraire)

  • Le bénéfice net a progressé de 33 % pour atteindre un record de 6,8 milliards USD, stimulé par une meilleure performance d’exploitation et par les avantages de la réforme fiscale
  • Le bénéfice par action diluée a augmenté de 43 % pour atteindre 0,63 USD
  • Le revenu, net des intérêts débiteurs, a diminué de 1 % à 22,6 milliards USD ; le revenu du T2-2017 de 22,8 milliards USD comprenait un gain avant impôts de 793 millions USD sur la vente des activités de cartes de crédit hors États-Unis, de la Société ; si l’on exclut ce gain, le revenu a augmenté de 3 %2
    • Le revenu net d’intérêts (RNI) a augmenté de 664 millions USD, soit 6 %, pour atteindre 11,7 milliards USD, reflétant les avantages découlant de taux d’intérêt plus élevés, ainsi que la croissance des prêts et des dépôts
    • Le revenu autre que d’intérêts a baissé de 884 millions USD, soit 7 %, pour atteindre 11,0 milliards USD ; la période précédente comprend le gain de 793 millions USD auquel il est fait référence plus haut
  • La provision pour créances irrécouvrables a progressé de 101 à 827 millions USD
    • Le ratio des créances irrécouvrables nettes est resté faible à 0,43 %
  • Les frais autres que d’intérêts ont reculé de 698 millions USD, soit 5 %, pour atteindre 13,3 milliards USD
    • Les dépenses du T2-2017 de 14,0 milliards USD comprenaient des charges pour dépréciation de l’écart d’acquisition, d’un centre de données de 295 millions USD ; hormis ces charges, les frais autres que d’intérêts ont baissé de 3 %2
  • Les soldes moyens de prêts dans les segments commerciaux ont progressé de 45 milliards USD, soit 5 %, pour atteindre 872 milliards USD
    • Le segment consommateurs a progressé de 6 %, et le segment commercial de 5 %
  • Les soldes des dépôts moyens ont progressé de 44 milliards USD, soit 3 %, pour atteindre 1,3 billion USD
  • Retour de 6,2 milliards USD aux titres des actionnaires au T2-2018 via des rachats de dividendes et d’actions ordinaires

Principaux résultats du T2 2018 par segments commerciaux (comparaisons établies en glissement annuel par rapport au même trimestre de l’exercice précédent, sauf indication contraire)

Services bancaires aux particuliers

  • Les produits ont augmenté de 8 % pour atteindre 9,2 milliards USD
  • Les prêts ont progressé de 7 % pour atteindre 281 milliards USD
  • Les dépôts ont progressé de 5 % à 688 milliards USD
  • Les actifs de courtage Merrill Edge ont augmenté de 20 %
  • 18e trimestre consécutif de levier d’exploitation positif
  • Les dépenses combinées de crédit/débit ont augmenté de 8 % pour atteindre 148 milliards USD

Gestion mondiale du patrimoine et des investissements

  • Soldes client records de près de 2,8 billions USD
  • La marge avant impôts demeure forte à 28 %
  • Les prêts ont progressé de 7 %, passant à 161 milliards USD
  • La croissance organique des nouveaux ménages Merrill Lynch en 1H-2018 est en hausse de 70 % par rapport à 1H-2017

Services bancaires mondiaux

  • Chiffre d’affaires de 4,9 milliards USD
  • Les frais bancaires d’investissement atteignent 1,4 milliard USD pour l’ensemble de la société
  • Les prêts ont progressé de 3 %, passant à 355 milliards USD
  • Les dépôts ont progressé de 8 %, pour atteindre 323 milliards USD

Marchés internationaux

  • Le chiffre d’affaires des ventes et du négoce a atteint 3,4 milliards USD, y compris l’ajustement de l’évaluation du débit (AED) net négatif de (179) millions USD
  • Hors AED net, le chiffre d’affaires issu des ventes et du négoce a augmenté de 7 %, passant à 3,6 milliards USD
    • Actions en hausse de 17 %, passant à 1,3 milliard USD
    • FICC en hausse de 2 %, passant à 2,3 milliards USD

Tous les documents déposés auprès de la SEC par Bank of America Corporation sont accessibles depuis le site : http://investor.bankofamerica.com/phoenix.zhtml?c=71595&p=irol-irhome.

La SEC tient à jour un site Internet contenant des rapports, des sollicitations de procurations et d’autres informations concernant les émetteurs qui déposent des documents par voie électronique auprès de la SEC. Ces documents peuvent être obtenus par voie électronique en accédant au site Internet de la SEC à l’adresse : http://www.sec.gov. Une copie de ce document sera également disponible sur le site Web du National Storage Mechanism à l’adresse : http://www.morningstar.co.uk/uk/NSM.

1 Les Principaux résultats financiers, et les Principaux résultats par segments commerciaux doivent être comparés en glissement annuel par rapport au même trimestre de l’exercice précédent, sauf indication contraire. Les soldes des prêts et des dépôts sont présentés sur une base moyenne, sauf indication contraire.

2 Représente une mesure financière non PCGR.

Le texte du communiqué issu d’une traduction ne doit d’aucune manière être considéré comme officiel. La seule version du communiqué qui fasse foi est celle du communiqué dans sa langue d’origine. La traduction devra toujours être confrontée au texte source, qui fera jurisprudence.

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MetaStat Voluntarily Withdraws Listing on the OTCQB and Files Form 15 to Suspend its Reporting Obligations

BOSTON–()–MetaStat, Inc. (OTCQB:MTST) (the “Company”), a precision medicine company developing novel anti-metastatic drugs for the treatment of patients with aggressive cancer, today announced the Company is voluntarily deregistering its common stock under Section 12(g) of the Securities Exchange Act of 1934, as amended (“Exchange Act”) and suspending its reporting obligations under Section 15(d) of the Exchange Act by filing a Form 15 with the Securities and Exchange Commission (the “SEC”) on July 16, 2018.

After a thorough review of the benefits and risks associated with being a public company, management and the board of directors felt deregistering as an SEC reporting company is in the best interest of the Company and all shareholders,” stated Douglas A. Hamilton, President and CEO of MetaStat. “It has been clear for some time the Company was not benefiting from the public listing as the market capitalization, access to capital and liquidity decreased despite the Company generating positive data and executing on its product development milestones.”

The Company’s reporting obligations with the SEC are suspended immediately upon filing the Form 15, including its obligations to file annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. The Company expects termination of its duty to file all other reports with the SEC will become effective in 90 days.

The Company’s common stock is currently quoted on the OTCQB, operated by OTC Markets Group. The Company expects its common stock will continue to be quoted on the OTCQB until its periodic reporting obligations under the Exchange Act are suspended, at which time the Company anticipates its common stock will trade on OTC Pink Market, so long as market makers demonstrate an interest in trading in the Company’s common stock. However, there is no assurance trading in the Company’s common stock will continue on the OTC Pink Market or on any other securities exchange or quotation medium.

About MetaStat, Inc.

MetaStat is a precision medicine company dedicated to improving the survival of patients with aggressive cancer. Our goal is to transform aggressive cancer into a manageable disease. MetaStat’s therapeutic approach targets the MENA pathway, a critical metastatic pathway responsible for driving tumor resistance and the spread of aggressive cancer. MetaStat is developing novel inhibitors targeting the MAPKAPK2 pathway based on the discovery of its role in the activation of the MENA pathway. MetaStat is leveraging a proven and highly successful strategy in oncology through the development of small molecule inhibitors.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements as a result of various factors and other risks, including those set forth in the company’s Form 10-K and its other filings filed with the SEC. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and the company undertakes no obligation to update such statements.

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Deswell Announces Filing and Availability of Annual Report on Form 20-F

MACAO–()–Deswell Industries, Inc. (Nasdaq: DSWL) today announced that the Company has filed its Annual Report on Form 20-F, which includes its audited financial statements for its fiscal year ended March 31, 2018, with the United States Securities and Exchange Commission (“SEC”). The Company’s Annual Report is available on the SEC’s website at http://www.sec.gov.

The Company will deliver a paper copy of its fiscal 2018 Annual Report on Form 20-F, including its complete audited financial statements, free of charge, to any shareholder within a reasonable time after request. To obtain a paper copy of Deswell’s fiscal 2018 Annual Report on Form 20-F, written request should be made to Deswell Industries, Inc., 10B, Edificio Associacao Industrial De Macau, No. 32-36 Rua do Comandante Mata e Oliveira, Macau, Special Administrative Region, PRC.

Deswell is an independent manufacturer of injection-molded plastic parts and components, electronic products and subassemblies and metallic molds and accessory parts for original equipment manufacturers, or “OEMs” and contract manufacturers. Deswell also began to distribute audio equipment in China. The company conducts all of its manufacturing activities at separate plastics and electronics operation factories located in Dongguan, People’s Republic of China. Deswell produces a wide variety of plastic parts and components used in the manufacture of consumer, automotive, medical and industrial products. Electronic products manufactured by the Company include sophisticated professional audio equipment, high end home theatre audio products, and complex printed circuit board assemblies and telecommunication products.

To learn more about Deswell Industries, Inc., please visit the Company’s web site at www.deswell.com.

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Mitsubishi UFJ Financial Group, Inc. Announces Filing of Annual Report on Form 20-F for the Year Ended March 31, 2018

TOKYO–()–Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG)(TOKYO:8306)(ISIN:JP3902900004)(MUFG) hereby announces that it has filed its Annual Report on Form 20-F for the fiscal year ended March 31, 2018 (the “Annual Report”) with the U.S. Securities and Exchange Commission on July 12, 2018. The Annual Report includes MUFG’s audited consolidated financial statements prepared under U.S. GAAP as of and for the fiscal year ended March 31, 2018.

The Annual Report is available on our website at the following website address:
https://www.mufg.jp/english/ir/form20-f/

In addition, all shareholders may receive a hard copy of the Annual Report free of charge upon request at our website. Such request should be made to below:
https://form.hd.mufg.jp/regist/is?SMPFORM=nbp-lergt-4cdffa98f29ce1e48fbe39a625e48382

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Molina Healthcare Announces Notice of Redemption of 1.625% Convertible Senior Notes

LONG BEACH, Calif.–()–Molina Healthcare, Inc. (NYSE: MOH) (the “Company”) today announced that it has given notice of its election to redeem all of the outstanding 1.625% Convertible Senior Notes due 2044 (CUSIP No. 60855R AD2) (the “Notes”) on August 20, 2018 (the “Redemption Date”), pursuant to the terms of the Indenture governing the Notes. The outstanding Notes will be redeemed for cash equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the Redemption Date (the “Redemption Price”). The aggregate principal amount of the Notes outstanding is approximately $63.5 million.

The Company has instructed U.S. Bank National Association, as trustee of the Notes, to deliver a Notice of Redemption to all registered holders on July 11, 2018. Notes held through DTC should be surrendered for redemption in accordance with DTC’s procedures. Interest on the Notes will cease to accrue on and after the Redemption Date, and the only remaining right of holders of the Notes will be to receive payment of the Redemption Price.

Pursuant to the Indenture, the Notes are convertible at any time prior to 5:00 p.m., New York City time, on August 17, 2018. The conversion rate is 17.2157 shares of the Company’s common stock per $1,000 principal amount of the Notes. Upon conversion, the Company will deliver to the holders in respect of each $1,000 principal amount of Notes being converted both cash and a “settlement amount,” as defined in the Indenture, equal to the sum of the daily settlement amount for each of the 25 consecutive trading days of the applicable observation period. The Company expects to fund the redemption and conversion cash payments through existing unrestricted cash. After August 17, 2018, holders will be entitled only to the Redemption Price for the Notes.

Copies of the Notice of Redemption and additional information relating to the procedure for redemption and/or conversion of the Notes may be obtained by calling the Company at (562) 435-3666, Attention: Investor Relations.

This press release is for informational purposes only and shall not constitute a notice of redemption of the Notes, an offer to sell or a solicitation of an offer to buy any securities.

About Molina Healthcare

Molina Healthcare, Inc., a FORTUNE 500 company, provides managed health care services under the Medicaid and Medicare programs and through the state insurance marketplaces. Through its locally operated health plans, Molina Healthcare served approximately 4.1 million members as of March 31, 2018. For more information about Molina Healthcare, please visit our website at molinahealthcare.com.

Cautionary Statement under the Private Securities Litigation Reform Act: This press release contains “forward-looking statements”, including statements related to the redemption and conversion of the Notes, which are subject to risks and uncertainties, including, without limitation, risks related to market and other general economic conditions. A discussion of the risk factors facing the Company can be found in its annual report on Form 10-K for the year ended December 31, 2017, in its Form 10-Q quarterly reports, in its Form 8-K current reports, and in its other reports and filings with the Securities and Exchange Commission (“SEC”). These reports can be accessed on the SEC’s website at www.sec.gov. The Company undertakes no obligation to release any revisions to any forward-looking statements.

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Mace Discloses Supplemental Information Regarding Bonus and Voting Agreements

CLEVELAND–()–Mace Security International, Inc. (OTCQX: MACE) today announced that it has posted amended supplemental exhibits on the OTCQX website. These exhibits provide greater detail related to certain previously disclosed bonus and voting agreements.

The Bonus Agreement aligns the company’s new lead investors with all shareholders and is based on annual EBITDA growing above a threshold level starting at $1 million. The Voting Agreements between certain large Mace shareholders were entered into with a goal of providing continued stability in Mace’s Board composition. They do not bind and have no effect on how any of Mace’s directors vote on Board matters.

These agreements continue to be available for shareholder viewing in their entirety at Mace’s headquarters located at 4400 Carnegie Avenue, Cleveland, OH 44103. Click on the following link to access the amended supplemental exhibits: https://backend.otcmarkets.com/otcapi/company/financial-report/197176/content

About Mace Security International, Inc.

Mace Security International Inc. is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the Company designs and manufactures consumer and tactical products for personal defense, security and surveillance under its world-renowned Mace® Brand – the original trusted brand of pepper spray products and Vigilant® Brand alarms, the world-wide leader and number one recognized brand in personal alarms. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® and Take Down® brands.

Certain statements and information included in this press release constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. When used in this press release, the words or phrases “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “projected,” “intend to” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to economic conditions, dependence on management, our ability to compete with competitors, dilution to shareholders, and limited capital resources.

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Williams Industrial Services Group Comments on Koontz-Wagner Bankruptcy Filing

IRVING, Texas–()–Williams Industrial Services Group Inc. (“Williams” or “the Company”) (OTC:WLMS), a general and specialty construction services company, commented today on the filing of Chapter 7 bankruptcy proceeding by its discontinued operation and wholly-owned subsidiary, Koontz-Wagner Custom Controls Holdings LLC (“Koontz-Wagner”).

Tracy Pagliara, President and CEO of Williams, stated, “It has been a slow and difficult process to complete the strategic alternatives review for Koontz-Wagner. After their second sales effort did not go as planned, Koontz-Wagner assessed a number of other options and, in consultation with its professional advisors, came to an informed conclusion that a Chapter 7 bankruptcy filing was most appropriate under the circumstances.”

Williams also noted that its lender has agreed to waive the event of default that would have occurred under the term loan agreement as a result of Koontz-Wagner’s Chapter 7 bankruptcy filing. The lender also extended through April 1, 2020 the mandatory pre-payment date and financial covenant compliance date to June 30, 2020 under the term loan agreement. The Company and its lender have reached an agreement in principle regarding new terms for refinancing the current term loan and will endeavor to finalize a new term loan agreement prior to August 31, 2018.

Mr. Pagliara concluded, “We can now focus our efforts on reducing costs, restructuring the organization, closing the Dallas office, obtaining an asset-based revolver and refinancing our debt while expanding Williams’ business prospects.”

As of July 1, 2018, the Company had $11.7 million of cash, of which $6.5 million was restricted for letters of credit, and $26.5 million in borrowings. Backlog from continuing operations at the end of Q2 2018 was approximately $175 million.

Webcast and Teleconference:

Williams’ management will host a brief conference call today at 4:00 p.m. Eastern time (3:00 p.m. Central) to address investors questions regarding the Koontz-Wagner decision. A webcast of the call will be available at www.wisgrp.com. To access the conference call by telephone, listeners should dial 201-493-6780.

An audio replay of the call will be available from 7:00 p.m. Eastern time (6:00 p.m. Central) on the day of the teleconference until the end of day on July 25, 2018. To listen to the audio replay, dial 412-317-6671 and enter conference ID number 13681476. Alternatively, you may access the webcast replay at http://ir.wisgrp.com, where a transcript will be posted once available.

About Williams Industrial Services Group

Williams Industrial Services Group (formerly known as Global Power Equipment Group) has been safely helping plant owners and operators enhance asset value for more than 50 years. The Company provides a broad range of general and specialty construction, maintenance and modification, and plant management support services to the nuclear, hydro and fossil power generation, pulp and paper, refining, petrochemical and other process and manufacturing industries. Williams’ mission is to be the preferred provider of construction, maintenance, and specialty services through commitment to superior safety performance, focus on innovation, and dedication to delivering unsurpassed value to its customers.

The Company’s strategy for growth is to further diversify both the geography and industries served, while also advancing capabilities to meet changing customer needs which includes nuclear decommissioning and conversion of analog control systems to digital in power generation facilities.

Additional information can be found at www.wisgrp.com.

Forward-looking Statement Disclaimer

This press release contains “forward-looking statements” within the meaning of the term set forth in the Private Securities Litigation Reform Act of 1995. The forward-looking statements include statements or expectations regarding the impact of Koontz-Wagner’s bankruptcy, planned cost reductions, reorganization and restructuring efforts, management’s ability to position the Company to fulfill its significant potential for future growth and profitability, the Company’s ability to come to new terms under its lending agreement and other related matters. These statements reflect the Company’s current views of future events and financial performance and are subject to a number of risks and uncertainties, including its ability to comply with the terms of its credit facility and enter into new lending facilities and access letters of credit, ability to timely file its periodic reports with the U.S. Securities and Exchange Commission (“the SEC”), ability to implement strategic initiatives, business plans, and liquidity plans, and ability to maintain effective internal control over financial reporting and disclosure controls and procedures. Actual results, performance or achievements may differ materially from those expressed or implied in the forward-looking statements. Additional risks and uncertainties that could cause or contribute to such material differences include, but are not limited to, decreased demand for the services provided by the Williams Industrial Services Group due to declines in the industries served, reduced demand for, or increased regulation of, nuclear power, loss of any of the Company’s major customers, whether pursuant to the loss of pending or future bids for either new business or an extension of existing business, termination of customer or vendor relationships, cost increases and project cost overruns, unforeseen schedule delays, poor performance by its subcontractors, cancellation of projects, competition, including competitors being awarded business by current customers, damage to the Company’s reputation, warranty or product liability claims, increased exposure to environmental or other liabilities, failure to comply with various laws and regulations, failure to attract and retain highly-qualified personnel, loss of customer relationships with the loss of critical personnel, volatility of the Company’s stock price, deterioration or uncertainty of credit markets, changes in the economic and social and political conditions in the United States, including the banking environment or monetary policy, and any suspension of the Company’s continued reporting obligations under the Securities Exchange Act of 1934, as amended.

Other important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company’s filings with the SEC, including the section of the Annual Report on Form 10-K for its 2017 fiscal year titled “Risk Factors.” Any forward-looking statement speaks only as of the date of this press release. Except as may be required by applicable law, Williams undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, and you are cautioned to not to rely upon them unduly.

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Roadrunner Transportation Systems to Evaluate Financing Alternatives

DOWNERS GROVE, Ill.–()–Roadrunner Transportation Systems, Inc. (“Roadrunner” or the “company”) (NYSE: RRTS), a leading asset-right transportation and asset-light logistics services provider, confirmed today that the company is now current with SEC filing requirements after filing on June 29, 2018, its Form 10-Q for the quarter ended March 31, 2018. The company expects to file its second quarter Form 10-Q and future filings on a timely basis.

The company reported positive comparable trends in its Truckload & Express Services and Ascent Global Logistics segments in the first quarter of 2018 versus the first quarter of 2017. The company expects continued positive trends in these segments in 2018. Roadrunner also expects sequential quarterly improvement in LTL operating results in the 2018 second quarter and anticipates improvements in operating trends in the second half of 2018 compared to the first half.

Roadrunner also announced today that a special committee of its board of directors, consisting solely of independent directors, has been appointed to review and evaluate the company’s financing alternatives. In connection with this evaluation, the company has engaged Barclays Capital to provide financial advice regarding the company’s capital structure and to provide financial advisory services in connection with the strategic development of the company’s business plans. Capital raising alternatives could include a rights offering or other forms of new equity or debt capital. Roadrunner may enter into discussions with its various stakeholders as part of this evaluation.

“Now that we are current with our SEC filings and have positive momentum in operating results, we are moving forward with our plans to focus on improving our capital structure. When we accepted the preferred equity investment in May 2017, the lack of financial covenants afforded us the flexibility to navigate through a very challenging period and to set the operational momentum on a positive path,” said Curt Stoelting, Chief Executive Officer of Roadrunner.

Stoelting continued, “Based on our longer-term business plans and focus on driving sustainable returns on invested capital, the company expects to achieve revenue of over $2.2 billion and Adjusted EBITDA of over $100 million by the end of 2020. This represents a 2020 target for Adjusted EBITDA margin similar to the company’s restated 2015 revenue and Adjusted EBITDA of $2.0 billion and $93.6 million, respectively. We believe that the structural changes currently being implemented will make future profitability more resilient and better position the company for growth. We plan to work with Barclays to identify the optimal capital structure given our long-term business plans.”

About Roadrunner Transportation Systems, Inc.

Roadrunner Transportation Systems is a leading asset-right transportation and asset-light logistics service provider offering a full suite of solutions under the Roadrunner®, Active On-Demand® and Ascent Global Logistics® brands. The Roadrunner brand offers less-than-truckload, temperature controlled and intermodal services. Active On-Demand offers premium mission critical air and ground transportation solutions. Ascent Global Logistics offers domestic freight management, retail consolidation, international freight forwarding and customs brokerage. For more information, please visit Roadrunner’s websites, www.rrts.com and www.ascentgl.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which relate to future events or performance. Forward-looking statements include, among others, statements regarding the expectation to file future SEC filings on a timely basis, the positive operating trends emerging in the second quarter of 2018; the positive outlook for the remainder of 2018; the ability to improve the company’s capital structure; the projected revenue and Adjusted EBITDA for the end of 2020; and the ability to complete structural changes currently being implemented and the effect of those changes. These statements are often, but not always, made through the use of words or phrases such as “may,” “will,” “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “believe,” “intend,” “predict,” “potential,” “opportunity,” and similar words or phrases or the negatives of these words or phrases. These forward-looking statements are based on Roadrunner’s current assumptions, expectations and beliefs and are subject to substantial risks, estimates, assumptions, uncertainties and changes in circumstances that may cause Roadrunner’s actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. Such factors include, among others, the risk that the company’s current financial condition could adversely impact its relationships with customers and independent contractors, as well as risks related to the restatement of Roadrunner’s previously issued financial statements, the remediation of Roadrunner’s identified material weaknesses in its internal control over financial reporting, the litigation resulting from the restatement of Roadrunner’s previously issued financial statements and the other risk factors contained in Roadrunner’s SEC filings, including Roadrunner’s Annual Report on Form 10-K for the year ended December 31, 2017. Because the risks, estimates, assumptions and uncertainties referred to above could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements, you should not place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date hereof, and, except as required by law, Roadrunner assumes no obligation and does not intend to update any forward-looking statement to reflect events or circumstances after the date hereof.

Non-GAAP Financial Measures

EBITDA represents earnings before interest, taxes, depreciation and amortization. Roadrunner calculates Adjusted EBITDA as EBITDA excluding impairment and other non-cash gains and losses, other long-term incentive compensation expenses, losses from debt extinguishments, restructuring and restatements costs associated with legal matters (including the company’s internal investigation, SEC compliance and debt restructuring costs), and adjustments to contingent purchase obligations. Roadrunner uses Adjusted EBITDA as a supplemental measure in evaluating its operating performance and when determining executive incentive compensation. Roadrunner believes Adjusted EBITDA is useful to investors in evaluating its performance compared to other companies in its industry because it assists in analyzing and benchmarking the performance and value of a business. The calculation of Adjusted EBITDA eliminates the effects of financing, income taxes and the accounting effects of capital spending. These items may vary for different companies for reasons unrelated to the overall operating performance of a company’s business. Adjusted EBITDA is not a financial measure presented in accordance with GAAP. Although Roadrunner’s management uses Adjusted EBITDA as a financial measure to assess the performance of its business compared to that of others in Roadrunner’s industry, Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for analysis of Roadrunner’s results as reported under GAAP. Some of these limitations are:

• Adjusted EBITDA does not reflect Roadrunner’s cash expenditures, future requirements for capital expenditures or contractual commitments;

• Adjusted EBITDA does not reflect changes in, or cash requirements for, Roadrunner’s working capital needs;

• Adjusted EBITDA does not reflect the significant interest expense or the cash requirements necessary to service interest or principal payments on Roadrunner’s debt or dividend payments on Roadrunner’s preferred stock;

• Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future and Adjusted EBITDA does not reflect any cash requirements for such replacements; and

• Other companies in Roadrunner’s industry may calculate Adjusted EBITDA differently than Roadrunner does, limiting its usefulness as a comparative measure.

Because of these limitations, Adjusted EBITDA should not be considered a measure of discretionary cash available to Roadrunner to invest in the growth of the company’s business. Roadrunner compensates for these limitations by relying primarily on Roadrunner’s results of operations under GAAP.

For a reconciliation of 2015 Adjusted EBITDA to net income, see the company’s Form 10-K/A for the year ended December 31, 2015, filed with the Securities and Exchange Commission on January 30, 2018.

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ERAPSCO Protests Navy Decision to Exclude it from GFY19-23 Q-125A Sonobuoy Solicitation

SCHAUMBURG, Ill.–()–Sparton Corporation (NYSE: SPA) today announced the filing of a bid protest by ERAPSCO with the United States Government Accountability Office (GAO) challenging the recent competitive range exclusion of ERAPSCO under United States Navy (Navy) Solicitation No. N00019-19-R-0002 for the GFY19-23 AN/SSQ-125A Production Sonobuoy. ERAPSCO is a joint venture between Sparton DeLeon Springs, LLC, a wholly-owned subsidiary of Sparton Corporation (Sparton), and Undersea Sensor Systems, Inc. (USSI), a wholly-owned subsidiary of Ultra Electronics Holdings plc (Ultra). The protest challenges on a number of bases the Navy’s decision to exclude ERAPSCO from the solicitation process and requests that GAO restore ERAPSCO’s ability to participate in the process. A decision by GAO is expected no later than October 17, 2018. Under applicable law, if GAO denies ERAPSCO’s bid protest, ERAPSCO could seek further relief through a new bid protest filing at the U.S. Court of Federal Claims.

The competitive range exclusion of ERAPSCO does not affect the Navy’s award of Solicitation No. N00019-19-R-0001 for the GFY19-23 AN/SSQ-36B, AN/SSQ-53G, AN/SSQ-62F and AN/SSQ-101B Production Sonobuoys as a sole source to ERAPSCO. ERAPSCO currently expects that the Navy will award the contract for this solicitation in late 2018 or early 2019.

The AN/SSQ-125A production sonobuoy is a successor to the AN/SSQ-125 sonobuoy, which ERAPSCO is currently shipping under contract no. N00421-14-D-0025. ERAPSCO has been supplying the AN/SSQ-125 sonobuoy to the Navy since 2012. Shipments to the Navy of the AN/SSQ-125A are expected to begin around October 2019, and shipments by ERAPSCO to the Navy of the AN/SSQ-125 are expected to cease around August 2019. Sparton recorded revenues for the AN/SSQ-125 sonobuoy of $20.7 million and $23.9 million for fiscal years ended July 1, 2018 and July 2, 2017, respectively. ERAPSCO has sold and will continue to sell the AN/SSQ-125 to a growing list of select foreign countries that are interested in this technology and approved by the United States Department of State.

If ERAPSCO is unsuccessful with its bid protest action or if an award for the AN/SSQ-125A sonobuoy is made to ERAPSCO in an amount less than the value of the current AN/SSQ-125 shipments to the Navy, Sparton would expect to see a reduction in sonobuoy revenue beginning in Sparton’s fiscal year ending June 28, 2020, when AN/SSQ-125A shipments are scheduled to begin replacing AN/SSQ-125 shipments. However, Sparton would not be prevented from bidding future AN/SSQ-125A production contracts starting in GFY24 should it qualify a design in accordance with the Production Sonobuoy Specification.

Potential Sale Transaction

On March 5, 2018, Sparton announced the termination by Sparton and Ultra of their July 7, 2017 merger agreement as a result of the staff of the United States Department of Justice (DOJ) informing the parties that it intended to recommend that the DOJ block the merger. At that time, Sparton announced that it would seek to re-engage with parties that previously expressed an interest in acquiring all or a part of Sparton and that are in a position to expeditiously proceed to effect such a transaction. That process continues. However, there can be no assurance these discussions will result in the execution of a definitive agreement or the completion of a transaction.

ERAPSCO Joint Venture

On March 5, 2018, Sparton announced that, during the DOJ’s review of Sparton’s proposed merger with Ultra, the Navy expressed the view that instead of the parties proceeding with the merger, each of Sparton and Ultra should enhance its ability to independently develop, produce and sell sonobuoys and over time work toward the elimination of their use of Sparton’s and Ultra’s joint venture for such activities. Since that time, Sparton has been in communication with the Navy to better understand its expectations with respect to the timing, funding and terms of current and future sonobuoy IDIQ production contracts. Discussions with the Navy on this topic are ongoing.

About Sparton Corporation

Sparton Corporation (NYSE:SPA), now in its 118th year, is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service and refurbishment. The primary markets served are Medical & Biotechnology, Military & Aerospace and Industrial & Commercial. Headquartered in Schaumburg, Illinois, Sparton currently has thirteen manufacturing locations and engineering design centers worldwide. Sparton’s Web site may be accessed at www.sparton.com.

Safe Harbor and Fair Disclosure Statement

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: To the extent any statements made in this release contain information that is not historical, these statements are essentially forward-looking and are subject to risks and uncertainties, including the difficulty of predicting future results, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in Sparton’s filings with the Securities and Exchange Commission (SEC). The matters discussed in this press release may also involve risks and uncertainties concerning Sparton’s services described in Sparton’s filings with the SEC. In particular, see the risk factors described in Sparton’s most recent Form 10K and Form 10Q. Sparton assumes no obligation to update the forward-looking information contained in this press release.

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Molina Healthcare of Puerto Rico Awarded Contract for Island-Wide Medicaid Managed Care Program

LONG BEACH, Calif.–()–Molina Healthcare, Inc. (NYSE: MOH) today announced that its wholly owned subsidiary, Molina Healthcare of Puerto Rico, Inc., has been selected by the Puerto Rico Health Insurance Administration (ASES, by its Spanish acronym) to be one of the organizations to administer the Commonwealth’s new Medicaid Managed Care contract. Under the current contract, Molina serves approximately 316,000 members in the East and Southwest regions of Puerto Rico. Services under the new contract, currently expected to begin on November 1, 2018, would cover the entire island. Contracts will be executed pending the assessment and agreement to the contract terms by Molina and ASES. The base contract runs for a period of three years with an optional one year extension.

“Being awarded an island-wide contract in Puerto Rico represents an exciting opportunity for Molina to serve even more Puerto Rico citizens with improved access to high quality care,” said Joe Zubretsky, president and chief executive officer of Molina Healthcare, Inc. “We are honored to have the chance to be one of the health plans tasked with playing a role in the transformation of the Island’s managed care program in partnership with ASES.”

“Molina is thrilled to be selected to coordinate and offer integrated managed care to Medicaid beneficiaries in all municipalities,” said Carlos A. Carrero, president of Molina Healthcare of Puerto Rico. “Molina has been able to achieve cost savings while improving health outcomes through care coordination, commitment to quality, and a focus on preventive care, and we are excited to build upon that success with this new contract.”

The new Medicaid Managed Care model will establish a single, island-wide region including all municipalities. This model was designed to provide Medicaid beneficiaries with the option to select the insurer and the network of providers of their choice while improving overall access to care. In addition, the program will introduce a High-Cost High Needs model and emphasize both preventive health care and education while strengthening the oversight and audit process.

About Molina Healthcare, Inc.

Molina Healthcare, Inc., a FORTUNE 500 company, provides managed health care services under the Medicaid and Medicare programs and through the state insurance marketplaces. Through its locally operated health plans, Molina Healthcare served approximately 4.1 million members as of March 31, 2018. For more information about Molina Healthcare, please visit our website at molinahealthcare.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains “forward-looking statements” regarding the selection of Molina Healthcare of Puerto Rico to be one of the organizations to administer the Commonwealth’s new Medicaid Managed Care Contract. All forward-looking statements are based on current expectations that are subject to numerous risk factors that could cause actual results to differ materially. Such risk factors include, without limitation, a failure of the parties to finalize and execute the new contract, a delay in the start date for the new contract, a failure to satisfy readiness review requirements, a reversal of the contract awards in connection with a successful protest by another bidder, and results and performance under the new contract that are materially less favorable than under the existing contract. Additional information regarding the risk factors to which we are subject is provided in greater detail in our periodic reports and filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K. These reports can be accessed under the investor relations tab of our website or on the SEC’s website at sec.gov. Given these risks and uncertainties, we cannot give assurances that our forward-looking statements will prove to be accurate, or that any other results or events projected or contemplated by our forward-looking statements will in fact occur, and we caution investors not to place undue reliance on these statements. All forward-looking statements in this release represent our judgment as of the date hereof, and we disclaim any obligation to update any forward-looking statements to conform the statement to actual results or changes in our expectations that occur after the date of this release.

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Exelixis Announces CELESTIAL Phase 3 Pivotal Trial Results Published in The New England Journal of Medicine

SOUTH SAN FRANCISCO, Calif.–()–Exelixis, Inc. (Nasdaq: EXEL) today announced that The New England Journal of Medicine (NEJM) published results from the CELESTIAL phase 3 pivotal trial of cabozantinib in patients with previously treated advanced hepatocellular carcinoma (HCC).1 The data, originally presented at the 2018 American Society of Clinical Oncology’s Gastrointestinal Cancers Symposium (ASCO-GI) in January, demonstrate that cabozantinib provided a statistically significant and clinically meaningful improvement in overall survival (OS) versus placebo.

Patients with this form of advanced liver cancer have very limited treatment options once their disease progresses following treatment with sorafenib,” said Ghassan K. Abou-Alfa, M.D., Memorial Sloan Kettering Cancer Center, New York and lead investigator on CELESTIAL. “These results suggest that, if approved, cabozantinib could become an important addition to the treatment landscape that may help slow disease progression and, critically, improve survival for these patients.”

Exelixis announced in May 2018 that the U.S. Food and Drug Administration (FDA) accepted the company’s supplemental New Drug Application (sNDA) for CABOMETYX® (cabozantinib) tablets as a treatment for patients with previously treated HCC. The filing has been assigned a Prescription Drug User Fee Act action date of January 14, 2019. Exelixis’ partner Ipsen received validation by the European Medicines Agency in March 2018 for its application for variation to the CABOMETYX marketing authorization to include the new indication for patients with previously treated advanced HCC.

The publication of the CELESTIAL trial results in a peer-reviewed publication as prestigious as NEJM further validates the importance of these data for the advanced liver cancer community,” said Gisela Schwab, M.D., President, Product Development and Medical Affairs and Chief Medical Officer, Exelixis. “We’re working closely with the FDA as they review our sNDA in order to bring CABOMETYX to this growing patient population as quickly as possible.”

Median OS in CELESTIAL was 10.2 months with cabozantinib versus 8.0 months with placebo (HR 0.76, 95 percent CI 0.63-0.92; p=0.0049). Median progression-free survival (PFS) was more than doubled, at 5.2 months with cabozantinib and 1.9 months with placebo (HR 0.44, 95 percent CI 0.36-0.52; p<0.0001). Objective response rates per RECIST 1.1 were 4 percent with cabozantinib and 0.4 percent with placebo (p=0.0086). Disease control (partial response or stable disease) was achieved by 64 percent of patients in the cabozantinib group compared with 33 percent of patients in the placebo group.

In a subgroup analysis of patients whose only prior therapy for advanced HCC was sorafenib (70 percent of patients in the study), median OS was 11.3 months with cabozantinib versus 7.2 months with placebo (HR 0.70, 95 percent CI 0.55-0.88). Median PFS in the subgroup was 5.5 months with cabozantinib versus 1.9 months with placebo (HR 0.40, 95 percent CI 0.32-0.50).

Adverse events were consistent with the known safety profile of cabozantinib. The most common (≥10 percent) grade 3 or 4 adverse events in the cabozantinib group compared to the placebo group were palmar-plantar erythrodysesthesia (17 percent vs. 0 percent), hypertension (16 percent vs. 2 percent), increased aspartate aminotransferase (12 percent vs. 7 percent), fatigue (10 percent vs. 4 percent) and diarrhea (10 percent vs. 2 percent). Treatment-related grade 5 adverse events occurred in six patients in the cabozantinib group (hepatic failure, esophagobronchial fistula, portal vein thrombosis, upper gastrointestinal hemorrhage, pulmonary embolism and hepatorenal syndrome) and in one patient in the placebo group (hepatic failure). Sixteen percent of patients in the cabozantinib arm and three percent of patients in the placebo arm discontinued treatment due to treatment-related adverse events.

About the CELESTIAL Study

CELESTIAL is a randomized, double-blind, placebo-controlled study of cabozantinib in patients with advanced HCC conducted at more than 100 sites globally in 19 countries. The trial was designed to enroll 760 patients with advanced HCC who received prior sorafenib and may have received up to two prior systemic cancer therapies for HCC and had adequate liver function. Enrollment of the trial was completed in September 2017. Patients were randomized 2:1 to receive 60 mg of cabozantinib once daily or placebo and were stratified based on etiology of the disease (hepatitis C, hepatitis B or other), geographic region (Asia versus other regions) and presence of extrahepatic spread and/or macrovascular invasion (yes or no). No cross-over was allowed between the study arms during the blinded treatment phase of the trial. The primary endpoint for the trial is OS, and secondary endpoints include objective response rate and PFS. Exploratory endpoints include patient-reported outcomes, biomarkers and safety.

In October 2017, Exelixis announced that the independent data monitoring committee for the CELESTIAL study recommended that the trial be stopped for efficacy following review at the second planned interim analysis, with cabozantinib providing a statistically significant and clinically meaningful improvement in OS compared with placebo in patients with previously treated advanced HCC. In March 2017, the FDA granted orphan drug designation to cabozantinib for the treatment of advanced HCC.

About HCC

Liver cancer is the second-leading cause of cancer death worldwide, accounting for more than 700,000 deaths and nearly 800,000 new cases each year.2 In the U.S., the incidence of liver cancer has more than tripled since 1980.3 HCC is the most common form of liver cancer, making up about three-fourths of the estimated nearly 42,000 new cases in the U.S. in 2018.3 HCC is the fastest-rising cause of cancer-related death in U.S.4 Without treatment, patients with advanced HCC usually survive less than 6 months.5

About CABOMETYX® (cabozantinib)

CABOMETYX tablets are approved in the United States for the treatment of patients with advanced renal cell carcinoma (RCC). CABOMETYX tablets are also approved in the European Union, Norway, Iceland, Australia, Switzerland and South Korea for the treatment of advanced RCC in adults who have received prior VEGF-targeted therapy, and in the European Union for previously untreated intermediate- or poor-risk advanced RCC. On March 28, 2018, Ipsen announced that the European Medicines Agency validated its application for a new indication for cabozantinib as a treatment for previously treated advanced HCC in the European Union. In 2016, Exelixis granted Ipsen exclusive rights for the commercialization and further clinical development of cabozantinib outside of the United States and Japan. In 2017, Exelixis granted exclusive rights to Takeda Pharmaceutical Company Limited for the commercialization and further clinical development of cabozantinib for all future indications in Japan, including RCC.

CABOMETYX is not indicated for previously treated advanced HCC.

Please see Important Safety Information below and full U.S. prescribing information at https://cabometyx.com/downloads/CABOMETYXUSPI.pdf.

U.S. Important Safety Information

  • Hemorrhage: Severe and fatal hemorrhages have occurred with CABOMETYX. In two RCC studies, the incidence of Grade ≥ 3 hemorrhagic events was 3% in CABOMETYX-treated patients. Do not administer CABOMETYX to patients that have or are at risk for severe hemorrhage.
  • Gastrointestinal (GI) Perforations and Fistulas: In RCC studies, fistulas were reported in 1% of CABOMETYX-treated patients. Fatal perforations occurred in patients treated with CABOMETYX. In RCC studies, gastrointestinal (GI) perforations were reported in 1% of CABOMETYX-treated patients. Monitor patients for symptoms of fistulas and perforations, including abscess and sepsis. Discontinue CABOMETYX in patients who experience a fistula which cannot be appropriately managed or a GI perforation.
  • Thrombotic Events: CABOMETYX treatment results in an increased incidence of thrombotic events. In RCC studies, venous thromboembolism occurred in 9% (including 5% pulmonary embolism) and arterial thromboembolism occurred in 1% of CABOMETYX-treated patients. Fatal thrombotic events occurred in the cabozantinib clinical program. Discontinue CABOMETYX in patients who develop an acute myocardial infarction or any other arterial thromboembolic complication.
  • Hypertension and Hypertensive Crisis: CABOMETYX treatment results in an increased incidence of treatment-emergent hypertension, including hypertensive crisis. In RCC studies, hypertension was reported in 44% (18% Grade ≥ 3) of CABOMETYX-treated patients. Monitor blood pressure prior to initiation and regularly during CABOMETYX treatment. Withhold CABOMETYX for hypertension that is not adequately controlled with medical management; when controlled, resume CABOMETYX at a reduced dose. Discontinue CABOMETYX for severe hypertension that cannot be controlled with anti-hypertensive therapy. Discontinue CABOMETYX if there is evidence of hypertensive crisis or severe hypertension despite optimal medical management.
  • Diarrhea: In RCC studies, diarrhea occurred in 74% of patients treated with CABOMETYX. Grade 3 diarrhea occurred in 11% of patients treated with CABOMETYX. Withhold CABOMETYX in patients who develop intolerable Grade 2 diarrhea or Grade 3-4 diarrhea that cannot be managed with standard antidiarrheal treatments until improvement to Grade 1; resume CABOMETYX at a reduced dose.
  • Palmar-Plantar Erythrodysesthesia (PPE): In RCC studies, palmar-plantar erythrodysesthesia (PPE) occurred in 42% of patients treated with CABOMETYX. Grade 3 PPE occurred in 8% of patients treated with CABOMETYX. Withhold CABOMETYX in patients who develop intolerable Grade 2 PPE or Grade 3 PPE until improvement to Grade 1; resume CABOMETYX at a reduced dose.
  • Reversible Posterior Leukoencephalopathy Syndrome (RPLS), a syndrome of subcortical vasogenic edema diagnosed by characteristic finding on MRI, occurred in the cabozantinib clinical program. Perform an evaluation for RPLS in any patient presenting with seizures, headache, visual disturbances, confusion or altered mental function. Discontinue CABOMETYX in patients who develop RPLS.
  • Embryo-fetal Toxicity may be associated with CABOMETYX. Advise pregnant women of the potential risk to a fetus. Advise females of reproductive potential to use effective contraception during CABOMETYX treatment and for 4 months after the last dose.
  • Adverse Reactions: The most commonly reported (≥25%) adverse reactions are: diarrhea, fatigue, nausea, decreased appetite, hypertension, PPE, weight decreased, vomiting, dysgeusia, and stomatitis.
  • Strong CYP3A4 Inhibitors: If concomitant use with strong CYP3A4 inhibitors cannot be avoided, reduce the CABOMETYX dosage.
  • Strong CYP3A4 Inducers: If concomitant use with strong CYP3A4 inducers cannot be avoided, increase the CABOMETYX dosage.
  • Lactation: Advise women not to breastfeed while taking CABOMETYX and for 4 months after the final dose.
  • Hepatic Impairment: In patients with mild to moderate hepatic impairment, reduce the CABOMETYX dosage. CABOMETYX is not recommended for use in patients with severe hepatic impairment.

Please see accompanying full Prescribing Information

https://cabometyx.com/downloads/CABOMETYXUSPI.pdf.

About Exelixis

Founded in 1994, Exelixis, Inc. (Nasdaq: EXEL) is a commercially successful, oncology-focused biotechnology company that strives to accelerate the discovery, development and commercialization of new medicines for difficult-to-treat cancers. Following early work in model genetic systems, we established a broad drug discovery and development platform that has served as the foundation for our continued efforts to bring new cancer therapies to patients in need. We discovered our three commercially available products, CABOMETYX® (cabozantinib), COMETRIQ® (cabozantinib) and COTELLIC® (cobimetinib), and have entered into partnerships with leading pharmaceutical companies to bring these important medicines to patients worldwide. Supported by revenues from our marketed products and collaborations, we are committed to prudently reinvesting in our business to maximize the potential of our pipeline. We are supplementing our existing therapeutic assets with targeted business development activities and internal drug discovery – all to deliver the next generation of Exelixis medicines and help patients recover stronger and live longer. In July 2018, Exelixis was added to the Standard & Poor’s (S&P) MidCap 400 index, which measures the performance of profitable mid-sized companies. For more information about Exelixis, please visit www.exelixis.com, follow @ExelixisInc on Twitter or like Exelixis, Inc. on Facebook.

Exelixis Forward-Looking Statement Disclaimer

This press release contains forward-looking statements, including, without limitation, statements related to: the therapeutic potential of cabozantinib as a treatment option for patients with previously treaded advanced HCC, if approved; the regulatory review process, including Exelixis’ intent to continue to work closely with the FDA as they review the application for cabozantinib as a treatment for patients with previously treated advanced HCC; Exelixis’ plans to reinvest in its business to maximize the potential of the company’s pipeline, including through targeted business development activities and internal drug discovery; and Exelixis’ mission to deliver the next generation of Exelixis medicines and help patients recover stronger and live longer. Words such as “could” “may,” “commitment,” “potential,” “intend,” or other similar expressions identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are based upon Exelixis’ current plans, assumptions, beliefs, expectations, estimates and projections. Forward-looking statements involve risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of these risks and uncertainties, which include, without limitation: risks and uncertainties related to regulatory review and approval processes and Exelixis’ compliance with applicable legal and regulatory requirements; market acceptance of CABOMETYX, COMETRIQ, and COTELLIC and the availability of coverage and reimbursement for these products; the risk that unanticipated developments could adversely affect the commercialization of CABOMETYX, COMETRIQ, and COTELLIC; risks related to the potential failure of cabozantinib and cobimetinib to demonstrate safety and efficacy in clinical testing; Exelixis’ ability and the ability of its collaborators to conduct clinical trials of cabozantinib and cobimetinib, both alone and in combination with other therapies, sufficient to achieve a positive completion; Exelixis’ dependence on its relationships with its collaboration partners, including, the level of their investment in the resources necessary to successfully commercialize partnered products in the territories where they are approved; the level of costs associated with Exelixis’ commercialization, research and development, in-licensing or acquisition of product candidates, and other activities; Exelixis’ dependence on third-party vendors for the development, manufacture and supply of its products; Exelixis’ ability to protect the company’s intellectual property rights; market competition, including the potential for competitors to obtain approval for generic versions of Exelixis’ marketed products; changes in economic and business conditions, and other factors discussed under the caption “Risk Factors” in Exelixis’ annual report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on May 2, 2018, and in Exelixis’ future filings with the SEC. The forward-looking statements made in this press release speak only as of the date of this press release. Exelixis expressly disclaims any duty, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Exelixis’ expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

Exelixis, the Exelixis logo, CABOMETYX, COMETRIQ and COTELLIC are registered U.S. trademarks.

References:

1 Abou-Alfa, G, Meyer T, Cheng AL, et al. Cabozantinib in patients with advanced and progressing hepatocellular carcinoma. N Engl J Med. 2018. 379:54-63.

2 Cancer Incidence and Mortality Worldwide. Liver Cancer. International Agency for Research on Cancer, GLOBOCAN 2012. Available at: http://globocan.iarc.fr/Pages/fact_sheets_cancer.aspx. Accessed July 2018.

3 American Cancer Society: Cancer Facts and Figures 2018. Available at: https://www.cancer.org/content/dam/cancer-org/research/cancer-facts-and-statistics/annual-cancer-facts-and-figures/2018/cancer-facts-and-figures-2018.pdf. Accessed July 2018.

4 Mittal S, El-Serag HB. Epidemiology of HCC: Consider the Population. J Clin Gastroenterol. 2013. 47:S2-S6.

5 Weledji E, Orock G, Ngowe M, NsaghaD. How grim is hepatocellular carcinoma? Ann Med Surg. 2014. 3:71-76.

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Astrotech Files Universal Shelf Registration on Form S-3

AUSTIN, Texas–()–Astrotech (NASDAQ: ASTC) today announced that it has filed a universal shelf registration statement on Form S-3 with the United States Securities and Exchange Commission, or the SEC. The registration statement is intended to provide the company with efficient access to the capital markets and increased financial flexibility.

Once the shelf registration statement has been declared effective by the SEC, subject to market conditions and other factors, Astrotech may from time to time issue various types of securities, including common stock, preferred stock, warrants, debt securities, units, or any combination of such securities, up to an aggregate amount of $30 million, through one or more methods of distribution. An offering under this registration statement will be limited to one-third of Astrotech’s public float within any 12-month period and sales may be made from this registration statement for up to three years from the date it is declared effective by the SEC. The terms of any offering under the registration statement will be established at the time of such offering and will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering. A copy of the prospectus included in the registration statement may be obtained on the SEC’s website at www.sec.gov.

The shelf registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Astrotech

Astrotech (NASDAQ: ASTC) is an innovative science and technology company that invents, acquires, and commercializes technological innovations sourced from research institutions, laboratories, universities, and internally, and then funds, manages, and builds proprietary, scalable start-up companies for profitable divestiture to market leaders to maximize shareholder value. 1st Detect develops, manufactures, and sells chemical analyzers for use in the security, defense, healthcare, food and beverage, and environmental markets. Sourced from decades of image research from IBM and Kodak laboratories, Astral Images sells film-to-digital image enhancement, defect removal and color correction software, as well as post-processing services providing economically feasible conversion of television and feature 35mm and 16mm films to the new 4K ultra-high definition (UHD), high-dynamic range (HDR) format necessary for the new generation of digital distribution. Sourced from NASA’s extensive microgravity research, Astrogenetix is applying a fast-track, on-orbit discovery platform using the International Space Station to develop vaccines and other therapeutics. Demonstrating its entrepreneurial strategy, Astrotech management sold its state-of-the-art satellite servicing operations to Lockheed Martin in August 2014. Astrotech is headquartered in Austin, Texas. For information, please visit www.astrotechcorp.com.

This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, whether we can successfully develop our proprietary technologies and whether the market will accept our products and services, as well as other risk factors and business considerations described in the Company’s Securities and Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.

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LUMIBIRD CONFIRME SON ELIGIBILITE AU PEA PME

LES ULIS, France–()–Regulatory News:

Le Groupe LUMIBIRD (Paris:LBIRD) confirme pour les 12 mois à venir l’éligibilité de ses actions au dispositif PEA PME institué par la Loi de finance pour 2014 du 29 décembre 2013 et dont les modalités ont été précisées par le décret d’application n°2014-283 du 4 mars 2014.

Les actions LUMIBIRD peuvent donc être intégrées dans les portefeuilles PEA PME, dédiés aux investissements dans les PME et ETI répondant aux critères fixés par la réglementation applicable (notamment, moins de 5 000 salariés d’une part, chiffre d’affaires annuel inférieur à 1,5 Md€ ou total de bilan inférieur à 2 Md€, d’autre part, étant précisé que ces seuils doivent être appréciés à la date d’acquisition des titres).

Prochaine information : publication du chiffre d’affaires S1 2018, le 27 juillet 2018, avant Bourse

LUMIBIRD est un des plus grands spécialistes mondiaux du laser. Fort de 50 années d’expérience et maîtrisant les technologies de laser à solides, de diodes laser et de laser à fibres, le Groupe conçoit, fabrique et distribue des lasers haute performance à usages scientifiques (laboratoires de recherche, universités), industriels (production, défense, capteurs Lidar) et médical (ophtalmologie).

Issu du rapprochement en octobre 2017 entre les Groupes Keopsys et Quantel, LUMIBIRD, fort de plus de 400 collaborateurs et 85 M€ de chiffre d’affaires (pro forma 2017) est présent en Europe, en Amérique et en Asie.

Les actions de LUMIBIRD sont cotées au compartiment C d’Euronext Paris. FR0000038242 – LBIRD www.lumibird.com

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LFB SA : COMMUNIQUE DE MISE A DISPOSITION DU RAPPORT DU PRESIDENT DU CONSEIL D’ADMINISTRATION

PARIS–()–Regulatory News:

Le Laboratoire français du Fractionnement et des Biotechnologies (LFB S.A.) annonce avoir mis à la disposition du public et déposé auprès de l’Autorité des marchés financiers le rapport du Président du conseil d’administration sur le gouvernement d’entreprise et les procédures de contrôle interne et de gestion des risques relatif à l’exercice 2017.

Le rapport sur le gouvernement d’entreprise et le contrôle interne peut être consulté sur le site internet de la société à l’adresse www.groupe-lfb.com, dans la rubrique « Investisseurs ».

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Graña y Montero Files Its Annual Report 2017 20-F

LIMA, Peru–()–Graña y Montero S.A.A. (NYSE:GRAM) (BVL:GRAMONC1) (“the Company” or “Graña y Montero”) announced that on July 2, 2018, Graña y Montero S.A.A. (“Graña y Montero”) filed its Annual Report on Form 20-F for the year ended December 31, 2017 with the U.S. Securities and Exchange Commission (the “SEC”).

In compliance with the New York Stock Exchange rules, the Form 20-F is available on our website at http://www.granaymontero.com.pe. In addition, all shareholders of Graña y Montero may request, free of charge, a hard copy of Graña y Montero’s complete audited financial statements filed with the SEC. To request a hard copy of Graña y Montero’s audited financial statements or to confirm or clarify this press release, please contact the Investor Relations Department of Graña y Montero, whose contact information is as follows:

             
Corporate Affairs Officer
Julia Sobrevilla
Tel.: (511) 213 6509

E-mail: julia.sobrevilla@gym.com.pe

Av. Paseo de la República 4667 Surquillo, Lima – Perú
 
Investor Relations
Adriana Caballero Herbozo
Tel.: (511) 213 6573
Alternative Phone: (51) 981 295 497

E-mail: adriana.caballero@gym.com.pe

Av. Paseo de la República 4667 Surquillo, Lima – Perú

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TPG Pace Energy Holdings Corp. Announces Special Meeting of Stockholders

HOUSTON–()–TPG Pace Energy Holdings Corp. (“TPGE”) (NYSE:TPGE, TPGE.U TPGE.WS) today filed a definitive proxy statement with respect to its business combination with EnerVest’s South Texas Division. The special meeting of stockholders will be held at 9:00 a.m. Eastern Standard Time (EST), on July 17, 2018, at the offices of Vinson & Elkins L.L.P., 666 Fifth Avenue, 26th Floor, New York, NY 10103. The proxy statement will first be mailed on or about July 3, 2018, to all TPGE stockholders of record as of June 25, 2018.

TPGE expects the business combination to close on July 31, 2018, subject to the satisfaction of customary closing conditions, including the approval of the business combination by TPGE’s stockholders at the special meeting.

In connection with the consummation of the transaction, on August 1, 2018, TPGE will be renamed Magnolia Oil and Gas Corporation (“Magnolia”), its Class A common stock will trade on the NYSE under the ticker symbol “MGY” and it will start implementing Steve Chazen’s objective of maximizing shareholder returns by generating steady production growth, strong pre-tax margins in excess of industry norms and significant free cash flow.

The description of the business combination and related transactions contained herein is only a summary and is qualified in its entirety by reference to the related contribution agreements and other related agreements that have been filed with the Securities and Exchange Commission (the “SEC”).

About Magnolia

Following completion of the transaction, Magnolia (MGY) will be a publicly traded oil and gas exploration and production company with South Texas operations in the core of the Eagle Ford. Magnolia will focus on generating value for shareholders through steady production growth and free cash flow. For more information, visit www.magnoliaoilgas.com.

About TPG Pace Energy Holdings

TPG Pace Energy Holdings Corp. is a $650 million special purpose acquisition company formed by TPG Pace Group and Occidental Petroleum Veteran Steve Chazen that went public on the NYSE in May of 2017. TPGE was formed with the intent to build a large scale, focused oil and gas business with a meaningful production base, strong free cash flow and a disciplined financial return philosophy. Following its IPO, TPGE began its search for attractive assets that would fit with Chazen’s operating approach and succeed as a public company with low leverage. For more information, visit www.tpg.com/pace-energy.

About EnerVest

Houston-based EnerVest, founded in 1992, acquires, develops and operates oil and gas fields in 14 states on behalf of its investors.

Forward-Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the proposed acquisition discussed herein, TPGE’s ability to consummate the transaction, the benefits of the transaction and Magnolia’s future financial performance following the transaction, as well as Magnolia’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, TPGE and Magnolia disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. TPGE cautions you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of TPGE, incident to the development, production, gathering and sale of oil, natural gas and natural gas liquids. In addition, TPGE cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the business combination or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against TPGE following announcement of the transactions; (iii) the inability to complete the business combination due to the failure to obtain approval of the shareholders of TPGE, or other conditions to closing in the transaction agreement; (iv) the risk that the proposed business combination disrupts TPGE’s current plans and operations as a result of the announcement of the transactions; (v) Magnolia’s ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of Magnolia to grow and manage growth profitably following the business combination; (vi) costs related to the business combination; (vii) changes in applicable laws or regulations; and (viii) the possibility that Magnolia may be adversely affected by other economic, business, and/or competitive factors. Should one or more of the risks or uncertainties described in this press release, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in TPGE’s periodic filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2017. TPGE’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

No Offer or Solicitation

This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities pursuant to the proposed business combination or otherwise, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.

Important Information for Investors and Shareholders

In connection with the proposed business combination, TPGE has filed a proxy statement with the SEC. The definitive proxy statement and other relevant documents will be sent or made available to the shareholders of TPGE and will contain important information about the proposed business combination and related matters. TPGE shareholders and other interested persons are advised to read the proxy statement in connection with TPGE’s solicitation of proxies for the meeting of shareholders to be held to approve the business combination because the proxy statement contains important information about the proposed business combination. The definitive proxy statement will be first mailed on or about July 3, 2018 to TPGE shareholders as of June 25, 2018. Shareholders may obtain copies of the proxy statement, without charge, once available, at the SEC’s website at www.sec.gov. In addition, shareholders may obtain free copies of the proxy statement by directing a request to: TPG Pace Energy Holdings Corp., 301 Commerce Street, Suite 3300, Fort Worth, Texas 76102, email: media@mgyoil.com, Attn: Mike Gehrig. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.

Participants in the Solicitation

TPGE, EnerVest and their respective directors and officers may be deemed participants in the solicitation of proxies of TPGE’s shareholders in connection with the proposed business combination. TPGE shareholders and other interested persons may obtain, without charge, more detailed information regarding the directors and officers of TPGE in TPGE’s Registration Statement on Form S-1 initially filed with the SEC on April 17, 2017 and in the definitive proxy statement filed on July 2, 2018. Additional information is available in the definitive proxy statement.

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Sierra Wireless Delivers FirstNet Ready™ LTE Router for Public Safety Applications

VANCOUVER, British Columbia–()–Sierra Wireless (NASDAQ:SWIR) (TSX:SW), the leading provider of fully integrated device-to-cloud solutions for the Internet of Things (IoT), today announced its AirLink® MG90 High-Performance Multi-Network Vehicle Router, based on its AirPrime® EM7511 embedded module, is certified and approved for use on FirstNet. This is the first device of its kind to achieve the FirstNet Ready™ designation.

FirstNet is the nationwide public safety communications platform dedicated to America’s first responders. Being built with AT&T*, in public-private partnership with the First Responder Network Authority (FirstNet Authority), FirstNet is bringing public safety agencies a much-needed technology upgrade to help them connect to the critical information they need.

The FirstNet Ready AirLink MG90 router supports FirstNet’s First Priority™ – which includes priority and pre-emption for first responders – and FirstNet’s 700MHz Band 14 spectrum. The AirPrime EM7511 LTE-Advanced Pro Embedded Module was also recently approved by AT&T and is the first embedded module available for the FirstNet™ network.

“We’re pleased to welcome Sierra Wireless to the FirstNet ecosystem,” said Chris Sambar, senior vice president, AT&T – FirstNet. “The more tools public safety has access to on their network, the more we can help them achieve their mission. Sierra Wireless already has a well-established relationship with the first responder community, and with the FirstNet Ready designation, first responders can be confident that Sierra Wireless’ AirLink MG90 router is a trusted solution that meets FirstNet’s standards for relevancy, high security and performance.”

Before being certified and approved for use on FirstNet, devices are subject to hundreds of tests that cover a number of aspects, from security and durability to network impacts. This helps make sure that they can meet the needs of first responders.

The AirLink MG90, a high-performance vehicle multi-networking platform, is purpose-built to provide secure, always-on connectivity for mission-critical applications in public safety, transit and field services. The newest AirLink MG90 variant supports LTE-Advanced Pro (Cat-12 speeds) and can switch seamlessly between FirstNet Band 14 wireless spectrum and other U.S. commercial mobile networks, with dual concurrent Gigabit Wi-Fi and Gigabit Ethernet and extensions to Land Mobile Radio (LMR) and satellite systems. Part of the AirPrime EM75 Series, the new EM7511 embedded module provides 4G LTE Advanced Pro Cat-12 coverage, including FirstNet Band 14, with 3G fallback and integrated GNSS, delivering up to 600Mbps downlink speed and 150Mbps uplink speed. The EM7511 module will enable IoT device manufacturers to deliver new solutions to the public safety community.

“Sierra Wireless has been helping advance first responders’ communications capabilities for more than 15 years, allowing public safety organizations to deploy reliable and cost-effective wireless solutions,” said Jason Krause, senior vice president and general manager, Enterprise Solutions, Sierra Wireless. “More than half of the top 100 public safety agencies in the U.S. rely on Sierra Wireless products for mission-critical communications. We’re proud to collaborate with the FirstNet Authority and AT&T to support the FirstNet initiative to keep first responders and communities safer, and we will expand our portfolio of FirstNet Ready™ products in the coming months.”

Availability

EM7511 modules are available now for OEM testing and integration. AirLink MG90 routers with support for LTE-Advanced Pro and FirstNet Band 14 are commercially available today through Sierra Wireless’ authorized channel partners. Options to upgrade existing AirLink MG90 units that are already currently deployed are also available. To contact the Sierra Wireless Sales Desk, call +1 877-687-7795 or visit http://www.sierrawireless.com/sales.

Resources

About Sierra Wireless

Sierra Wireless (NASDAQ:SWIR) (TSX:SW) is an IoT pioneer, empowering businesses and industries to transform and thrive in the connected economy. Customers Start with Sierra because we offer a device to cloud solution, comprised of embedded and networking solutions seamlessly integrated with our secure cloud and connectivity services. OEMs and enterprises worldwide rely on our expertise in delivering fully integrated solutions to reduce complexity, turn data into intelligence and get their connected products and services to market faster. Sierra Wireless has more than 1,300 employees globally and operates R&D centers in North America, Europe and Asia. For more information, visit www.sierrawireless.com.

Connect with Sierra Wireless on the IoT Blog at http://www.sierrawireless.com/iot-blog, on Twitter at @SierraWireless, on LinkedIn at http://www.linkedin.com/company/sierra-wireless and on YouTube at http://www.youtube.com/SierraWireless.

“Sierra Wireless”, “AirLink” and “AirPrime” are trademarks of Sierra Wireless. Other product or service names mentioned herein may be the trademarks of their respective owners.

*About AT&T Communications

We help family, friends and neighbors connect in meaningful ways every day. From the first phone call 140+ years ago to mobile video streaming, we innovate to improve lives. We have the nation’s largest and most reliable network and the nation’s best network for video streaming.** We’re building FirstNet just for first responders and creating next-generation mobile 5G. With DIRECTV and DIRECTV NOW, we deliver entertainment people love to talk about. Our smart, highly secure solutions serve over 3 million global businesses – nearly all of the Fortune 1000. And worldwide, our spirit of service drives employees to give back to their communities.

AT&T Communications is part of AT&T Inc. (NYSE:T). Learn more at att.com/CommunicationsNews.

AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc. Additional information about AT&T products and services is available at about.att.com. Follow our news on Twitter at @ATT, on Facebook at facebook.com/att and on YouTube at youtube.com/att.

© 2018 AT&T Intellectual Property. All rights reserved. AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.

**Coverage not available everywhere. Based on overall coverage in U.S. licensed/roaming areas. Reliability based on voice and data performance from independent 3rd party data.

Forward Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply conditions, channel and end customer demand conditions, revenues, gross margins, operating expenses, profits, and other expectations, intentions, and plans contained in this press release that are not historical fact. Our expectations regarding future revenues and earnings depend in part upon our ability to successfully develop, manufacture, and supply products that we do not produce today and that meet defined specifications. When used in this press release, the words “plan”, “expect”, “believe”, and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in the wireless data communications market. In light of the many risks and uncertainties surrounding the wireless data communications market, you should understand that we cannot assure you that the forward-looking statements contained in this press release will be realized.

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RAIT Financial Trust Announces Progress on Its Strategic Steps

PHILADELPHIA–()–RAIT Financial Trust (OTCQB: RASF) (“RAIT”) is pleased to provide an update on its previously announced strategy of taking steps to increase liquidity and better position RAIT to meet its financial obligations as they come due. These steps are referred to as the 2018 strategic steps and they include, but are not limited to:

  • The suspension of our lending business along with the implementation of other steps to reduce costs within our other operating businesses; and
  • The continuation of the process of selling our owned real estate (“REO”) portfolio and selling certain of our commercial real estate (“CRE”) loans, while continuing to service and manage our existing CRE loan portfolio.

Key progress related to our 2018 strategic steps include the following:

Asset Monetization Plan and Liquidity Position

  • As of June 27, 2018, RAIT’s year to date REO and CRE loan divestitures, totaled $182.7 million. After repayment of obligations secured by these assets and related transaction costs of $88.9 million, RAIT received net proceeds of approximately $93.8 million.
  • As summarized below, on June 27, 2018, a RAIT subsidiary (“RAIT IV”), sold (the “FL Sale”) its interests (the “FL5/6 Interests”) in joint ventures which held securities with a $61.2 million aggregate par amount in two floating rate securitizations, which RAIT has referred to as RAIT FL5 and RAIT FL6 in its public filings, to an affiliate (the “FL5/6 Purchaser”) of the other members of these joint ventures.
  • RAIT’s cash and cash equivalents balance as of June 27, 2018 was $73 million.

Debt Reductions

  • During 2018, RAIT repurchased $42.3 million of its outstanding 4% convertible senior notes, leaving $68.2 million outstanding. Additionally, during 2018, RAIT redeemed $2.0 million of its senior secured notes, leaving $9.5 million outstanding.

RAIT completes the FL Sale, the Preferred Redemption (as defined below) and the Preferred Exchange (as defined below)

  • As detailed in the Form 8-K filed on June 28, 2018, on June 27, 2018, RAIT and RAIT IV closed on (1) the redemption (the “Preferred Redemption”) of a portion of RAIT IV’s preferred units (the “Units”) held by an investor (the “Preferred Investor”), resulting in the cancellation of the linked RAIT Series D Preferred Shares (the “Series D Preferred Shares”) held by the Preferred Investor; and (2) the exchange (the “Preferred Exchange”) of the remaining Units and linked Series D Preferred Shares held by the Preferred Investor for newly issued shares of RAIT’s publically traded Series A, B and C Preferred Shares, resulting in the cancellation of all of the outstanding Units and linked Series D Preferred Shares. RAIT IV, which owned specified assets required to be held by RAIT IV under the Series D Documents (as defined below) to support the redemption of the Units and the Series D Preferred Shares, closed on its sale to the FL5/6 Purchaser of the FL5/6 Interests. As described below, the proceeds from the sale were used to redeem certain of the Units, which resulted in the cancellation of the Series D Preferred Shares linked to such Units. RAIT IV utilized approximately $54.6 million in net proceeds from FL Sale plus $2.2 million of other cash held by RAIT IV to redeem $56.8 million of the Units and the Series D Preferred Shares linked to such Units having an aggregate liquidation preference of $56.8 million. The remaining balance of the Units and Series D Preferred Shares, with an aggregate liquidation preference of $16.7 million, was exchanged for 383,147 RAIT Series A Preferred Shares, 167,828 RAIT Series B Preferred Shares and 117,605 RAIT Series C Preferred Shares, having an aggregate liquidation preference of $16.7 million.

Key effects of the transactions for RAIT include:

  • The resolution of the previously disclosed dispute between the Preferred Investor and RAIT and the termination of the previously disclosed securities purchase agreement related to the Series D Preferred Shares and Units and related documents governing the Series D Preferred Shares and Units (collectively, the “Series D Documents”) and the operating covenants therein;
  • The release back to RAIT from RAIT IV’s assets of the remaining $28.2 million par amount of assets held by RAIT IV as part of the assets supporting the redemption of the Units and cancellation of the linked Series D Preferred Shares, making these assets available for RAIT’s future liquidity needs; and
  • The reduction in the size of RAIT’s Board of Trustees (the “Board”) thru the resignation from the Board of the Preferred Investor’s designated Board member and another Board member with business relationships with the Preferred Investor.

Please see the Form-8K filed on June 28, 2018 for further details.

Michael Malter, RAIT’s Chairman of the Board said, “With the combination of our current cash balance of $73 million, $44 million of corporate recourse debt reductions and completion of transactions resulting in the cancellation of the Series D Preferred Shares, we believe RAIT has mitigated the most significant immediate risks it faced during the first half of 2018. At this time, we anticipate RAIT’s liquidity position will be sufficient to meet its 2018 financial obligations as we expect them to come due.”

About RAIT Financial Trust

RAIT Financial Trust is an internally-managed real estate investment trust focused on providing debt financing options to owners of commercial real estate throughout the United States. For more information, please visit www.rait.com or call Investor Relations at 215.207.2100.

Forward-Looking Statements

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “strategic steps,” “expect,” “believe,” “anticipate,” or other similar words or terms. Such forward-looking statements include, but are not limited to, statements regarding RAIT’s 2018 strategic steps and RAIT’s expectations as to the impact of the 2018 strategic steps; statements regarding the mitigation of risks to RAIT; and statements regarding the anticipated sufficiency of RAIT’s liquidity position. Such forward-looking statements are based upon RAIT’s historical performance and its current strategies and expectations and are not a representation that such strategies or expectations will be achieved. Such statements are subject to known and unknown risks, uncertainties and contingencies that may cause actual results to differ materially from the expectations, intentions, beliefs, strategies or predictions of the future expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, whether of risks to RAIT have been mitigated by the 2018 strategic steps taken to date; whether RAIT’s liquidity position will be sufficient for its 2018 financial obligations as they come due; whether RAIT will be able to continue to implement the 2018 strategic steps to increase liquidity and better position RAIT to meet its financial obligations as they come due; whether RAIT will be able to continue to monetize its assets, including, without limitation, RAIT’s legacy REO, CRE loans, the majority of RAIT’s non-lending assets and existing property management operations, and repay any related debt, for amounts and on the schedule currently expected by RAIT management; whether any indebtedness or other obligations of RAIT will become due and payable sooner than expected by RAIT; final accounting determinations on gains or losses realized in the event properties and/or loans are sold or divested for prices that differ from their carrying value or if property and/or loan valuations are adjusted in the process of revaluating properties and/or loans when they are characterized as held for sale; and other factors described in RAIT’s Annual Report on Form 10-K, Quarterly Report on Form 10-Q and in other filings with the SEC. RAIT undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.

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Wipro Annual Report 2018 on Form 20-F Available Online for ADS Holders

BANGALORE, India & EAST BRUNSWICK, N.J.–()–Wipro Limited (NYSE: WIT) (BSE: 507685) (NSE: WIPRO), a leading global information technology, consulting, and business process services company, today announced that it has filed its Annual Report on Form 20-F for the year ended March 31, 2018 with the U.S. Securities and Exchange Commission on June 28, 2018 and will furnish the same to its American Depository Shares (ADS) holders on its website in lieu of a physical distribution.

The financial statements included in the Annual Report on Form 20-F for the year ended March 31, 2018 have been prepared in accordance with the International Financial Reporting Standards (IFRS) and is available through the Wipro Limited website at www.wipro.com.

In accordance with New York Stock Exchange rules, physical and email copies of Wipro’s Annual Report on Form 20-F will be made available, at no cost, to ADS holders upon request.

About Wipro Limited

Wipro Limited is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 160,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future. For more information, please visit www.wipro.com.

Forward-looking statements

The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the U.S. Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the U.S. Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

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