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- Biomind Labs Inc. Completes Reverse Take-Over Transaction
- Jam City, Inc. and DPCM Capital, Inc. Mutually Agree to Terminate Business Combination Agreement
- Jam City, Inc. and DPCM Capital, Inc. Mutually Agree to Terminate Business Combination Agreement
- Materion to Participate in the Jefferies Virtual Industrials Conference
- Chemtrade Logistics Income Fund to Announce Second Quarter 2021 Results on August 11, 2021
- 15 Homeowners Receive $110K in Hurricane Recovery Assistance
- BAE Systems Receives Concept Development Contract for OMFV Program
- PropertyGuru, Southeast Asia’s Leading Digital Property Marketplace Group, Plans to Go Public in Partnership with Bridgetown 2
- 15 Homeowners Receive $110K in Hurricane Recovery Assistance
- How leading Google One is like solving a puzzle
| Biomind Labs Inc. Completes Reverse Take-Over Transaction Posted: 23 Jul 2021 05:59 PM PDT dWeb.News Article from Daniel Webster dWeb.News
TORONTO--(BUSINESS WIRE)--Biomind Labs Inc. (formerly Crosswinds Holdings Inc.) (the "Company"), announces that it has completed its previously announced acquisition of all of the outstanding shares of BioMind Research Corp ("Biomind"), a biotech research and development company aimed at transforming biomedical sciences knowledge from natural psychotropic plants into novel pharmaceutical drugs and innovative nanotech delivery systems for a variety of psychiatric and neurological conditions (the "Reverse Takeover"). The Reverse Takeover was completed by way of a merger pursuant to a plan of merger under the BVI Business Companies Act 2004 (British Virgin Islands) (the "Plan of Merger") between Biomind and a wholly owned subsidiary of the Company, which resulted in the reverse takeover of the Company by the shareholders of Biomind. Further details of the Reverse Takeover and the Plan of Merger are available in the Company's filing statement dated June 29, 2021 (the "Filing Statement"), available under the Company's profile on SEDAR at www.sedar.com. Unless otherwise indicated, all currency references are to Canadian dollars. Alejandro Antalich, CEO of the Company, said: "Our listing on the Neo Exchange is the next chapter in the Company's evolution. We will aim to build a strong relationship with the psychiatric community with the potential to establish, while working closely with government authorities and health agencies, the safety and effectiveness that psychiatrists need when prescribing medications. Millions of people around the world suffer from debilitating mental conditions that may have been exacerbated by the collateral effects of the COVID-19 pandemic. Our company is focusing on affordable and fast-acting psychedelics that have the potential to alleviate such mental conditions. Our motivation is to assist doctors in saving more lives and to give a second chance to patients who have lost hope." Prior to the Reverse Takeover taking effect, the Company (a) continued out of the jurisdiction of Alberta under the Business Corporations Act (Alberta) and into the jurisdiction of Ontario under the Business Corporations Act (Ontario) (the "Continuance"), (b) consolidated its common shares (the "Common Shares") on the basis of 32.5 old Common Shares into one (1) new Common Share (the "Consolidation"), (c) changed its name to "Biomind Labs Inc." (the "Name Change"); and approved a new stock option plan (the "New Plan"). The Continuance, Consolidation, Name Change and the New Plan were approved at the annual and special meeting of the shareholders of the Company held on May 14, 2021. On closing of the Reverse Takeover, the holders of common shares in the capital of Biomind (each, a "Biomind Share") received one (post-Consolidation) Common Share for each Biomind Share outstanding immediately prior to completion of the Reverse Takeover. On July 9, 2021, Biomind issued 4,420,647 subscription receipts (the "Subscription Receipts") at a price of $1.40 per Subscription Receipt for aggregate gross proceeds of $6,188,906. Canaccord Genuity Corp. (the "Agent") acted as agent and sole bookrunner in relation to the brokered private placement. Immediately prior to closing the Reverse Takeover, each Subscription Receipt was converted into one Biomind Share. The Common Shares (post-Continuance, Consolidation and Name Change) are expected to commence trading on the facilities of the Neo Exchange Inc. (the "NEO Exchange") under the symbol "BMND" at the opening of the markets on or about July 28, 2021, subject to the satisfaction of certain conditions to listing. A further press release will be issued in advance of the commencement of trading. In connection with the Reverse Takeover, the Company issued a total of 74,045,647 Common Shares in exchange for Biomind Shares. Upon completion of the Reverse Takeover, the Company has a total of 74,761,853 Common Shares issued and outstanding as well as compensation warrants exercisable for up to 180,343 Common Shares at a price of $1.40 per share and options to purchase up to 3,020,000 Common Shares. Following the Reverse Takeover, the leadership team of the Company is as follows:
Additional information related to the Company's business and the Reverse Takeover (including the members of the management team and board of directors listed above) is available in the Filing Statement. Early Warning As a result of the Reverse Takeover, Union Group Ventures Limited has beneficial ownership of, or control or direction over, an aggregate of 50,000,000 Common Shares and options to purchase up to 1,000,000 Common Shares representing approximately 66.9% of the issued and outstanding Common Shares on a non-diluted basis, and representing approximately 65.4% of the issued and outstanding Common Shares on a fully-diluted basis. The Common Shares were acquired for investment purposes and Union Group Ventures Limited has no current intention to acquire control or direction over additional securities of the Company as of the date of this news release, either alone or together with any joint actors. A copy of the early warning report providing further details of Union Group Ventures Limited's holdings will be available on the Company's SEDAR profile at www.sedar.com. A copy of this report can be obtained by contacting Alejandro Antalich, Chief Executive Officer, at +59892251500. About Biomind Labs Inc. The Company is a biotech research and development company aimed at transforming biomedical sciences knowledge from natural psychotropic plants into novel pharmaceutical drugs and innovative nanotech delivery systems for a variety of psychiatric and neurological conditions. Through its acceleration platform, the Company is developing novel pharmaceutical formulations of the main natural psychedelic molecules, N, N-dimethyltryptamine (DMT), 5-MeO-DMT and mescaline for treating a wide range of therapeutic indications. The Company's focus is to guarantee patients access to affordable and modern-day treatments and use cases. The Company understands that long-lasting psychedelic effects make it difficult to create adequate clinical protocols to serve a larger number of patients, and this is the reason why the Company specializes in fast-acting psychedelics. Cautionary Note Regarding Forward-Looking Statements This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this document include, among others, statements relating to expectations regarding the trading of the Common Shares on the NEO Exchange, the potential of the Company's products to alleviate certain mental conditions, building strong relationships with the psychiatric community, the business plans and growth plans of the Company and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: (a) the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; (b) compliance with extensive government regulation; (c) domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; (d) the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating peers; (e) adverse changes in the public perception of tryptamine-based treatments and psychedelic-based therapies; (f) the impact of COVID-19; and (g) general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. The Company makes no medical, treatment or health benefit claims about the Company's proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding tryptamine-based treatments, psychedelic-based therapies or other psychedelic compounds. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psychedelic tryptamines, tryptamine derivatives or other psychedelic compounds can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. The Company has not completed clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that the Company verified such in clinical trials or that the Company will complete such trials. If the Company cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the Company's performance and operations. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Investors are cautioned that, except as disclosed in the Filing Statement to be prepared in connection with the Reverse Takeover, any information released or received with respect to the Reverse Takeover may not be accurate or complete and should not be relied upon. The NEO Exchange has in no way passed upon the merits of the Reverse Takeover and has neither approved nor disapproved the contents of this press release and accepts no responsibility for the adequacy or accuracy of this release.
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| Jam City, Inc. and DPCM Capital, Inc. Mutually Agree to Terminate Business Combination Agreement Posted: 23 Jul 2021 05:58 PM PDT dWeb.News Article from Daniel Webster dWeb.News MIAMI & LOS ANGELES--(BUSINESS WIRE)--DPCM Capital, Inc. ("DPCM Capital") (NYSE: XPOA), a publicly traded special purpose acquisition company, and Jam City, Inc. ("Jam City"), a… The post Jam City, Inc. and DPCM Capital, Inc. Mutually Agree to Terminate Business Combination Agreement appeared first on dWeb.News dWeb.News from Daniel Webster Publisher dWeb.News - dWeb Local Tech News and Business News       |
| Jam City, Inc. and DPCM Capital, Inc. Mutually Agree to Terminate Business Combination Agreement Posted: 23 Jul 2021 05:58 PM PDT dWeb.News Article from Daniel Webster dWeb.News
MIAMI & LOS ANGELES--(BUSINESS WIRE)--DPCM Capital, Inc. ("DPCM Capital") (NYSE: XPOA), a publicly traded special purpose acquisition company, and Jam City, Inc. ("Jam City"), a leading mobile entertainment company behind some of the world's highest grossing and most enduring mobile games, today announced that both companies have mutually agreed to terminate the previously announced business combination agreement, effective immediately. In light of current market conditions, DPCM Capital and Jam City believe that terminating the business combination agreement is the best path forward for the parties and their respective stockholders. DPCM Capital intends to continue to pursue a business combination and is proceeding to evaluate alternative business combinations. About DPCM Capital, Inc. DPCM Capital, Inc. is a special purpose acquisition company led by Chairman and CEO Emil Michael, formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. UBS Securities LLC acted as sole book-running manager for DPCM Capital's initial public offering. Its common stock, units, and warrants began trading on the NYSE on October 23, 2020 under the ticker symbols XPOA, XPOA.U and XPOA WS, respectively. www.dpcmcapital.com. About Jam City Jam City is an award-winning mobile entertainment company providing unique and deeply engaging games that appeal to a broad, global audience. Led by CEO Chris DeWolfe, former MySpace co-founder and CEO, and COO Josh Yguado, former 20th Century Fox executive, Jam City is the creative powerhouse behind some of the highest-grossing and most enduring mobile games. [Jam City's global franchise Cookie Jam has generated $790 million in lifetime bookings and Panda Pop has generated $375 million in lifetime bookings as of Q4 2020.] The company is a partner of choice for Hollywood studios, having developed immersive, narrative-rich mobile games around iconic entertainment brands. The company's popular RPG game Harry Potter: Hogwarts Mystery was the #1 game in more than 40 countries at its launch in April 2018. Jam City currently has studios and talent located in Los Angeles (HQ), Burbank, Cedar Falls, Las Vegas, San Diego, San Francisco and, internationally, in Berlin, Bogotá, Buenos Aires, and Toronto. For more information, please visit www.jamcity.com. Forward-Looking Statements Certain statements in this press release may be considered "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements herein include statements regarding DPCM Capital's ability to complete a business combination. In some cases, you can identify forward-looking statements by terminology such as "may," " should," "expect," " intend," " will," "estimate," " anticipate," " believe," " predict," "project," "target," "plan," or "potentially" or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that are inherently uncertain and subject to material change. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risk and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, DPCM Capital's ability to select an appropriate target business or businesses, complete its initial business combination, general economic conditions and other risks, uncertainties and factors set forth in the section entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in DPCM Capital's Annual Report on Form 10-K/A, filed with the SEC on June 24, 2021, and other filings with the SEC. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein and the risk factors of DPCM Capital described above. DPCM Capital does not undertake any duty to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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| Materion to Participate in the Jefferies Virtual Industrials Conference Posted: 23 Jul 2021 05:55 PM PDT dWeb.News Article from Daniel Webster dWeb.News
MAYFIELD HEIGHTS, Ohio--(BUSINESS WIRE)--Materion Corporation (NYSE: MTRN) will participate in the Jefferies Virtual Industrials Conference on August 4, 2021. Jugal Vijayvargiya, President and Chief Executive Officer, and Shelly Chadwick, Vice President, Finance and Chief Financial Officer, will be available for virtual one-on-one meetings with investors throughout the day. To schedule a meeting please contact your Jefferies institutional sales representative or Materion investor relations. About Materion Materion Corporation is headquartered in Mayfield Heights, Ohio. The Company, through its wholly owned subsidiaries, supplies highly engineered advanced enabling materials to global markets. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems.
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| Chemtrade Logistics Income Fund to Announce Second Quarter 2021 Results on August 11, 2021 Posted: 23 Jul 2021 05:54 PM PDT dWeb.News Article from Daniel Webster dWeb.News
 Release SummaryChemtrade Logistics Income Fund to Announce Second Quarter 2021 Results on August 11, 2021 Contacts Rohit Bhardwaj Ryan Paull
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| 15 Homeowners Receive $110K in Hurricane Recovery Assistance Posted: 23 Jul 2021 05:53 PM PDT dWeb.News Article from Daniel Webster dWeb.News
HATTIESBURG, Miss.--(BUSINESS WIRE)--Fifteen Gulf Coast homeowners received up to a $10,000 subsidy to assist with repairing damages to their homes as a result of 2020's hurricanes, Laura, Delta and Zeta, that pummeled the Gulf Coast. The funds are part of the Federal Home Loan Bank of Dallas' (FHLB Dallas) Disaster Rebuilding Assistance. The program provides funds for the repair and rehabilitation of owner-occupied housing affected by a federally declared disaster within FHLB Dallas' five-state District. This year, The First, A National Banking Association (The First) was among the many members who participated in the program. Peggy Parker, of Waveland, Mississippi, was just one of the 15 Disaster Rebuilding Assistance subsidy recipients from The First and FHLB Dallas. Ms. Parker's home was damaged by Hurricane Zeta in October 2020, and she received a $4,745 subsidy to make several repairs. "They replaced my storm door, painted the front and back doors, repaired the front porch, painted the ceiling in the kitchen and dining room, and they replaced the plastic covering underneath my home," Ms. Parker said. "I would not have been able to make any of these repairs if it weren't for the funds. I would have had to just live with what was dealt to me from Zeta." Together, The First and FHLB Dallas provided $110,198 to 15 homeowners along the Gulf Coast, and for Lauren Wilson, community development specialist at The First, it has been an amazing feeling to provide help to her community. "Distributing the Disaster Rebuilding Assistance funds to people in need is a great feeling," Ms. Wilson said. "We couldn't have done this alone. Our nonprofit partners, Hancock Resource Center and Back Bay Mission, did the majority of the heavy lifting to ensure our homeowners' needs were met. And we are very grateful for our partnership with FHLB Dallas, which helped provide the funds." In 2021, FHLB Dallas set aside $500,000 for Disaster Rebuilding Assistance. The funds are disbursed through member institutions like The First on a first-come, first-served basis, one homeowner at a time. Ms. Wilson added that the program helps the bank maintain relationships and assist people who need it most. "We are building and maintaining a relationship with the community," she said. "We are someone they can turn to in a time of need, especially during a pandemic when funds and resources can be limited." Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas, said the program is a great tool to help support recovery efforts after a natural disaster. "Natural disasters such as hurricanes can devastate a region with very short notice. We offer financial assistance tools for our members, like The First, and their communities through programs such as the Disaster Rebuilding Assistance program to support the recovery process," said Mr. Hettrick. Ms. Wilson said she highly recommends the program to other banks in her community. "It is an amazing program. The pool of money helps lift a weight off the community," she said. "As a community bank, serving people is our focus. It is a very easy process, and the staff at FHLB Dallas have been very helpful." About The First Bancshares Inc. The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is the parent company of The First, A National Banking Association. Founded in 1996 near Hattiesburg, Mississippi, The First has grown rapidly through South Mississippi, South Alabama, Louisiana, Florida and Georgia providing services competitive to those found at larger regional banks. The company's stock is traded on Nasdaq Global Market under the symbol FBMS. Information is available on the company's website www.TheFirstBank.com. About the Federal Home Loan Bank of Dallas The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $61.1 billion as of March 31, 2021, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.
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| BAE Systems Receives Concept Development Contract for OMFV Program Posted: 23 Jul 2021 05:52 PM PDT dWeb.News Article from Daniel Webster dWeb.News
WASHINGTON--(BUSINESS WIRE)--The U.S. Army has awarded BAE Systems, Inc. a contract for the concept development phase of the Optionally Manned Fighting Vehicle (OMFV) program. During this phase, BAE Systems will further develop a design that will meet - with ample growth and adaptability - the Army's needs for lethality, mobility and survivability on future battlefields. BAE Systems, along with teammate Elbit Systems of America, will explore crew automation, active protection, and other transformational combat vehicle technologies and turret solutions that will deliver the advanced warfighting capabilities the Army needs for the future. "Our soldiers on the future battlefield should set the pace of the fight and dominate in lethality, survivability, and mobility through technology," Jim Miller, director of business development at BAE Systems, said. "The conceptual design phase allows us to demonstrate how we marry future technology with our integration and production experience to deliver a new level of capability to our troops on an ever-changing, interconnected, multi-domain, joint battlefield." BAE Systems' OMFV design will provide a highly maneuverable and survivable solution for the Army's Armored Brigade Combat Team (ABCT) to engage in close combat and deliver decisive lethality. BAE Systems' solution will accommodate a host of targeting systems that will share threat and target data across the ABCT team, and will help protect soldiers as they get to the fight. BAE Systems' OMFV concept is an integrated system of systems based on a Modular Open Systems Approach (MOSA), which allows for rapid upgrades and technology refresh for quick insertion of new innovations or to counter emerging threats. MOSA solutions also help lower lifecycle sustainment costs and enable commonality across platforms. Preliminary design work on the contract will take place in York, Pennsylvania; Sterling Heights, Michigan; Minneapolis, Minnesota; and San Jose, California.
Contacts For more information, please contact:
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| Posted: 23 Jul 2021 05:51 PM PDT dWeb.News Article from Daniel Webster dWeb.News
SINGAPORE & HONG KONG--(BUSINESS WIRE)--PropertyGuru Pte. Ltd. ("PropertyGuru" or "the Company"), Southeast Asia's leading property technology ("PropTech") company1, and Bridgetown 2 Holdings Limited (NASDAQ: BTNB) ("Bridgetown 2"), a special purpose acquisition company formed by Pacific Century Group ("Pacific Century") and Thiel Capital LLC ("Thiel Capital"), announced today that they have entered into a business combination agreement. Upon closing, the combined company is expected to begin trading on the New York Stock Exchange ("NYSE"). Founded in 2007, PropertyGuru has grown to become Southeast Asia's #1 digital property marketplace with leading positions in Singapore, Vietnam, Malaysia and Thailand1. The Company currently hosts more than 2.8 million monthly real estate listings and serves 37 million monthly property seekers and 49,000 active property agents across the five largest economies in Southeast Asia – Indonesia, Malaysia, Singapore, Thailand and Vietnam. PropertyGuru provides digital property marketplaces to match buyers and tenants with sellers and landlords; digital marketing services for property agents and developers; SaaS-based sales process automation for property developers, a digital mortgage marketplace and brokerage, and property data consultancy services for banks, valuers and property developers. The Company's PropTech business model leverages proprietary data and technology to drive greater transparency and efficiency in the market and deliver a trusted platform for agents, consumers, developers and banks. PropertyGuru's high growth business delivered an average annual revenue growth of approximately 25%3 in the four years preceding the COVID-19 pandemic, and its pro-forma revenue is expected to have a compounded annual growth rate of 29% between CY20A and CY25F. Well-Positioned to Capture Long-Term Market Opportunities Southeast Asia is estimated to become the fourth largest economy in the world by 20304, driven by long-term macroeconomic trends, including urbanization, a rising middle class and digitalization. These favorable dynamics are creating significant opportunities in the region's property market as an increasingly affluent and digital-first population seeks property across the region. PropertyGuru has positioned itself to capture these growth opportunities through continued investment in its products and services to stay ahead of the evolving market and made a series of strategic acquisitions to add new capabilities and extend its leadership position. Over the last 18 months, the Company has:
The Company expects that its continued investments will enable it to emerge from the pandemic even stronger. It also expects that the growth of its core offerings will allow it to successfully expand into adjacent opportunities, such as Developer Operating Systems and Home Services. Management Commentary Hari V. Krishnan, Chief Executive Officer and Managing Director, PropertyGuru Group, said, "We have established a market leadership position in the Southeast Asian property ecosystem and a track record of revenue growth. Much of our success is the result of our investment in technology over the years and capturing strategic growth opportunities in recent times. We have a story to be told and found the right partner to help us tell it to public market investors. We are delighted to partner with Bridgetown 2 as we accelerate our mission to be the trusted advisor for property. This process of becoming a public company will provide us with greater financial resources to do what we do best – helping people find, finance and own their homes in an efficient and transparent manner. We believe the strategic, proactive steps that we have taken over the past 18 months will enable us to stay ahead of the market's evolving needs, which are increasingly being shaped by the growth of affluent and digitally-enabled populations living in cities across Southeast Asia." Matt Danzeisen, Chairman, Bridgetown 2, said, "We evaluated a number of very impressive companies across Southeast Asia and PropertyGuru is the perfect fit for us. The Company is a category leader and category creator – they helped define the PropTech industry in Southeast Asia and have taken it to new heights by leveraging technology and data to create a trusted and transparent digital property marketplace. We believe PropertyGuru is just scratching the surface of what it can deliver as Southeast Asia's property market continues to accelerate, and we are excited to work with Hari and his talented team to capture the incredible opportunities that lie ahead." Peter Thiel, President, Thiel Capital, said, "The market for property is probably the oldest market in the world, and only now is it beginning to change rapidly. As PropertyGuru spearheads that change in Southeast Asia, Bridgetown 2 will provide capital and expertise to accelerate it even further." Richard Li, Founder and Chairman, Pacific Century Group, said, "Southeast Asia is a unique market in that it has very high economic growth but lacks quality services in many sectors. Fast growing middle-class, increased urbanization and technological disruption create a unique combination. We recognize the transformational impact of these long-term trends and are focused on operating our own core business and investing in local champions that are successfully leveraging technology to reshape the region's economy and how people carry out their everyday lives." Transaction Overview The combined company will have an enterprise value of approximately US$1.35 billion and an equity value of approximately US$1.78 billion at closing. The transaction is expected to deliver up to US$431 million of gross proceeds through the contribution of up to US$299 million of cash held in Bridgetown 2's trust account, a concurrent US$100 million private placement ("PIPE") of common stock anchored by Baillie Gifford, Naya, REA Group, Akaris Global Partners, and one of Malaysia's largest asset managers, priced at US$10.00 per share, and an additional US$32 million equity investment from REA Group. KKR, TPG Group and REA Group will roll 100% of their equity into the combined company, demonstrating their continued commitment to the Company's growth strategy5. The transaction is expected to close in the fourth quarter of 2021 or first quarter of 2022, subject to regulatory and stockholder approvals, and other customary closing conditions. PropertyGuru's management team, led by Chief Executive Officer and Managing Director Hari V. Krishnan and Chief Financial Officer Joe Dische will continue to lead the public company after the completion of the transaction. Advisors Merrill Lynch (Singapore) Pte. Ltd. is serving as exclusive financial advisor to PropertyGuru. Latham & Watkins LLP and Allen & Gledhill LLP are serving as legal advisors to PropertyGuru. Merrill Lynch (Singapore) Pte. Ltd., Citigroup Global Markets Inc., KKR Capital Markets Asia Limited and TPG Capital BD, LLC are serving as placement agents to Bridgetown 2. Skadden, Arps, Slate, Meagher & Flom LLP and Rajah & Tann Singapore LLP are serving as legal advisors to Bridgetown 2. Investor Presentation PropertyGuru and Bridgetown 2 have posted an investor presentation to their respective websites, which can be accessed here and here. Bridgetown 2 filed a Current Report on Form 8-K, which includes a copy of the business combination agreement and the investor presentation, with the Securities and Exchange Commission and is available at www.sec.gov. About PropertyGuru Group PropertyGuru Group is Southeast Asia's leading property technology company1 and the preferred destination for 37 million property seekers to find their dream home, every month. PropertyGuru and its group companies empower property seekers with more than 2.8 million real estate listings, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam. PropertyGuru.com.sg was launched in 2007 and has helped to drive the Singapore property market online and has made property search transparent for the property seeker. Over the decade, the Group has grown into a high-growth technology company with a robust portfolio of leading property portals across its core markets1; award-winning mobile apps; a high quality developer sales enablement platform, FastKey; mortgage marketplace PropertyGuru Finance; and a host of other property offerings including Awards, events and publications across Asia. For more information, please visit www.PropertyGuruGroup.com; https://www.linkedin.com/company/propertyguru About Bridgetown 2 Holdings Bridgetown 2 Holdings Limited is a blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, with a focus on technology, financial services, or media sectors in Southeast Asia. The company is formed by Pacific Century Group and Thiel Capital, led by Chief Executive Officer and Chief Financial Officer, Daniel Wong, and Chairman Matt Danzeisen. For more information, please visit https://www.bridgetownholdings.co/ Forward-Looking Statements This document includes "forward-looking statements" within the meaning of the federal securities laws with respect to the proposed transaction between PropertyGuru Pte. Ltd. ("Property Guru"), PropertyGuru Group Limited and Bridgetown 2 Holdings Limited ("Bridgetown 2"), and also contains certain financial forecasts and projections. All statements other than statements of historical fact contained in this document, including, but not limited to, statements as to future results of operations and financial position, planned products and services, business strategy and plans, objectives of management for future operations of PropertyGuru, market size and growth opportunities, competitive position, technological and market trends and the potential benefits and expectations related to the terms and timing of the proposed transactions, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of Bridgetown 2 and PropertyGuru, which are all subject to change due to various factors including, without limitation, changes in general economic conditions as a result of COVID-19. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this document, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The forward-looking statements and financial forecasts and projections contained in this document are subject to a number of factors, risks and uncertainties. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in domestic and foreign business, market, financial, political and legal conditions; the timing and structure of the business combination; changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations; the inability of the parties to successfully or timely consummate the business combination, the PIPE investment and other transactions in connection therewith, including as a result of the COVID-19 pandemic or the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the business combination or that the approval of the shareholders of Bridgetown 2 or PropertyGuru is not obtained; the risk that the business combination disrupts current plans and operations of Bridgetown 2 or PropertyGuru as a result of the announcement and consummation of the business combination; the ability of PropertyGuru to grow and manage growth profitably and retain its key employees including its chief executive officer and executive team; the inability to obtain or maintain the listing of the post-acquisition company's securities on the NYSE following the business combination; failure to realize the anticipated benefits of business combination; risk relating to the uncertainty of the projected financial information with respect to PropertyGuru; the amount of redemption requests made by Bridgetown 2's shareholders and the amount of funds available in the Bridgetown 2 trust account; PropertyGuru's ability to attract new and retain existing customers in a cost effective manner; competitive pressures in and any disruption to the industry in which PropertyGuru and its subsidiaries (the "Group") operates; the Group's ability to achieve profitability despite a history of losses; the Group's ability to implement its growth strategies and manage its growth; customers of the Group continuing to make valuable contributions to its platform, the Group's ability to meet consumer expectations; the success of the Group's new product or service offerings; the Group's ability to produce accurate forecasts of its operating and financial results; the Group's ability to attract traffic to its websites; the Group's ability to assess property values accurately; the Group's internal controls; fluctuations in foreign currency exchange rates; the Group's ability to raise capital; media coverage of the Group; the Group's ability to obtain insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) of the countries in which the Group operates, general economic conditions in the countries in which the Group operates, the Group's ability to attract and retain management and skilled employees, the impact of the COVID-19 pandemic on the business of the Group, the success of the Group's strategic investments and acquisitions, changes in the Group's relationship with its current customers, suppliers and service providers, disruptions to information technology systems and networks, the Group's ability to grow and protect its brand and the Group's reputation, the Group's ability to protect its intellectual property; changes in regulation and other contingencies; the Group's ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; the fact that closing (the "REA Closing") of the Group's contemplated purchase of the Malaysian and Thai Assets of REA Group Ltd. ("REA") is subject to the satisfaction of certain closing conditions, including REA's divestment of its 27% interest in 99 Group (the operator of the websites 99.co, iProperty.com.sg and rumah123.com), failing which the REA Closing may not occur; potential and future litigation that the Group may be involved in; unanticipated losses, write-downs or write-offs, restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required subsequent to, or in connection with, the consummation of the Business Combination and technological advancements in the Group's industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of PubCo's registration statement on Form F-4, the proxy statement/consent solicitation statement/prospectus discussed below, Bridgetown 2's Quarterly Report on Form 10-Q and other documents filed by PubCo or Bridgetown 2 from time to time with the U.S. Securities and Exchange Commission (the "SEC"). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, there may be additional risks that neither Bridgetown 2 nor PropertyGuru presently know, or that Bridgetown 2 or PropertyGuru currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements reflect Bridgetown 2's and PropertyGuru's expectations, plans, projections or forecasts of future events and view. If any of the risks materialize or Bridgetown 2's or PropertyGuru's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. Bridgetown 2 and PropertyGuru anticipate that subsequent events and developments may cause their assessments to change. However, while PubCo, Bridgetown 2 and PropertyGuru may elect to update these forward-looking statements at some point in the future, PubCo, Bridgetown 2 and PropertyGuru specifically disclaim any obligation to do so, except as required by law. The inclusion of any statement in this document does not constitute an admission by PropertyGuru nor Bridgetown 2 or any other person that the events or circumstances described in such statement are material. These forward-looking statements should not be relied upon as representing Bridgetown 2's or PropertyGuru's assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. In addition, the analyses of PropertyGuru and Bridgetown 2 contained herein are not, and do not purport to be, appraisals of the securities, assets or business of the PropertyGuru, Bridgetown 2 or any other entity. Non-IFRS Financial Measures This document may also include references to non-IFRS financial measures. Such non-IFRS measures should be considered only as supplemental to, and not as an alternative to, financial measures prepared in accordance with IFRS, and such non-IFRS measures may not be comparable to similarly titled non-IFRS financial measures used by other companies. Participants in the Solicitation Bridgetown 2, PubCo and PropertyGuru and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from Bridgetown 2's shareholders in connection with the proposed transactions. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Bridgetown 2's shareholders in connection with the proposed transactions will be set forth in PubCo's proxy statement/prospectus when it is filed with the SEC. You can find more information about Bridgetown 2's directors and executive officers in Bridgetown 2's final prospectus filed with the SEC on January 27, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement/prospectus when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above. No Offer or Solicitation This document 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 transactions 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 of 1933, as amended.
1 In terms of relative engagement market share based on SimilarWeb data.
More Communications Business News dWeb.News The post PropertyGuru, Southeast Asia's Leading Digital Property Marketplace Group, Plans to Go Public in Partnership with Bridgetown 2 appeared first on dWeb.News dWeb.News from Daniel Webster Publisher dWeb.News - dWeb Local Tech News and Business News       |
| 15 Homeowners Receive $110K in Hurricane Recovery Assistance Posted: 23 Jul 2021 05:49 PM PDT dWeb.News Article from Daniel Webster dWeb.News
HATTIESBURG, Miss.--(BUSINESS WIRE)--Fifteen Gulf Coast homeowners received up to a $10,000 subsidy to assist with repairing damages to their homes as a result of 2020's hurricanes, Laura, Delta and Zeta, that pummeled the Gulf Coast. The funds are part of the Federal Home Loan Bank of Dallas' (FHLB Dallas) Disaster Rebuilding Assistance. The program provides funds for the repair and rehabilitation of owner-occupied housing affected by a federally declared disaster within FHLB Dallas' five-state District. This year, The First, A National Banking Association (The First) was among the many members who participated in the program. Peggy Parker, of Waveland, Mississippi, was just one of the 15 Disaster Rebuilding Assistance subsidy recipients from The First and FHLB Dallas. Ms. Parker's home was damaged by Hurricane Zeta in October 2020, and she received a $4,745 subsidy to make several repairs. "They replaced my storm door, painted the front and back doors, repaired the front porch, painted the ceiling in the kitchen and dining room, and they replaced the plastic covering underneath my home," Ms. Parker said. "I would not have been able to make any of these repairs if it weren't for the funds. I would have had to just live with what was dealt to me from Zeta." Together, The First and FHLB Dallas provided $110,198 to 15 homeowners along the Gulf Coast, and for Lauren Wilson, community development specialist at The First, it has been an amazing feeling to provide help to her community. "Distributing the Disaster Rebuilding Assistance funds to people in need is a great feeling," Ms. Wilson said. "We couldn't have done this alone. Our nonprofit partners, Hancock Resource Center and Back Bay Mission, did the majority of the heavy lifting to ensure our homeowners' needs were met. And we are very grateful for our partnership with FHLB Dallas, which helped provide the funds." In 2021, FHLB Dallas set aside $500,000 for Disaster Rebuilding Assistance. The funds are disbursed through member institutions like The First on a first-come, first-served basis, one homeowner at a time. Ms. Wilson added that the program helps the bank maintain relationships and assist people who need it most. "We are building and maintaining a relationship with the community," she said. "We are someone they can turn to in a time of need, especially during a pandemic when funds and resources can be limited." Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas, said the program is a great tool to help support recovery efforts after a natural disaster. "Natural disasters such as hurricanes can devastate a region with very short notice. We offer financial assistance tools for our members, like The First, and their communities through programs such as the Disaster Rebuilding Assistance program to support the recovery process," said Mr. Hettrick. Ms. Wilson said she highly recommends the program to other banks in her community. "It is an amazing program. The pool of money helps lift a weight off the community," she said. "As a community bank, serving people is our focus. It is a very easy process, and the staff at FHLB Dallas have been very helpful." About The First Bancshares Inc. The First Bancshares, Inc., headquartered in Hattiesburg, Mississippi, is the parent company of The First, A National Banking Association. Founded in 1996 near Hattiesburg, Mississippi, The First has grown rapidly through South Mississippi, South Alabama, Louisiana, Florida and Georgia providing services competitive to those found at larger regional banks. The company's stock is traded on Nasdaq Global Market under the symbol FBMS. Information is available on the company's website www.TheFirstBank.com. About the Federal Home Loan Bank of Dallas The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $61.1 billion as of March 31, 2021, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.
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| How leading Google One is like solving a puzzle Posted: 23 Jul 2021 05:48 PM PDT dWeb.News Article from Daniel Webster dWeb.News
How have you seen the subscription model take over tech? The open, free internet is still incredibly important, and ad-supported models provide significant value to users. There are also cases where ad-supported solutions may not be the right fit. Subscriptions are growing across industries, not just tech. Car companies are building subscriptions, kids' clothing companies — there are many examples. And it's because people rightfully expect ongoing value for the things they buy. Buying something that's one-and-done, that doesn't consistently get better, isn't as appealing. Tech lends itself particularly well to this idea, because we can provide more innovation and continuous improvements over time. What's a habit or routine that helps you in your job? I have a habit of spending the first few minutes of every meeting just connecting with my coworkers, especially in video calls. Having an awareness of other people's overall wellbeing is personally important to me, and I also think it helps us work better together. I want to hear how you're doing, what's going on in the rest of your life — and then we can get into the potentially harder, thornier stuff we need to talk about. It makes my work a lot more enjoyable and I think it makes the people I work with feel the same — at least I hope so! We created these values for our team a couple of years ago, and one of them is "woohoo often." It sounds silly, but we do a group "woohoo!" out loud when we have a win or hit a milestone, personal or work-related. We kept it going throughout working from home, and it felt a little strange at first to cheer "woohoo!" over a video call, but it's actually been great. What's something about you that would surprise people? I did gymnastics growing up and was on the national team for about nine years and I competed on two world championship teams. I have a move named after me, the Fontaine. It was considered difficult at the time, but you'll see far more impressive skills from Simone Biles in Tokyo!
The post How leading Google One is like solving a puzzle appeared first on dWeb.News dWeb.News from Daniel Webster Publisher dWeb.News - dWeb Local Tech News and Business News      |
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