Month: May 2021

NEW ALBANY, Ohio, May 03, 2021 (GLOBE NEWSWIRE) — CVG (NASDAQ: CVGI) (“CVG” or the “Company”) today announced that on April 30, 2021 it had closed on $275 million in senior secured credit facilities, consisting of a $150 million Term Loan A (the “Term Loan A”) and a $125 million Revolving Credit Facility (the “Revolver” and together with the Term Loan A the “Senior Secured Credit Facilities”). The Company used a portion of the proceeds of the Senior Secured Credit Facilities to pay off its existing Term Loan B and Asset Backed Loan Facility which at April 30, 2021 had outstanding principal of $151.6 million and $11.3 million respectively. CVG expects to reduce its interest expense by approximately $3.1 million on a full quarter basis as a result of this transaction. Harold...

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES (Note: All dollar amounts in this news release are expressed in U.S. dollars except as otherwise noted.) TORONTO, May 03, 2021 (GLOBE NEWSWIRE) — Fairfax India Holdings Corporation (“Fairfax India”) (TSX: FIH.U) announces that Chemplast Sanmar Limited (“CSL”), a subsidiary of Sanmar Chemicals Group (“Sanmar”), has filed a draft red herring prospectus with the Securities and Exchange Board of India (“SEBI”) in connection with its proposed initial public offering (the “IPO”). Pursuant to the IPO, CSL may raise up to INR 35 billion (approximately $472 million at current exchange rates), comprised of a primary issuance of fresh equity shares of up to INR 15 billion ($202 million) and a secondary sale of CSL equity shares by the Sanmar group aggregating...

Nilorn has released a one-page progress report that highlights both our Sustainability and Annual Report, designed to give you a ‘teaser’. We hope you enjoy the highlights and welcome you to read the full reports, which can be easily accessed via separate links. For further information, please contact:Krister Magnusson, President and CEOtel: 0704-852 114, e-mail: krister.magnusson@nilorn.com General about Nilorn GroupNilorn Group is a global company, founded in the 1970s, with expertise in how to add value to brands through branding and design in the form of labels, packaging and accessories, primarily to customers in the fashion and clothing industry. Nilorn Group offers complete, creative and tailor-made concepts in branding, design, product development and logistical solutions. The Group operates through its own companies in Sweden,...

Company Prepares for Next Stage of Growth FRAMINGHAM, Mass., May 03, 2021 (GLOBE NEWSWIRE) — Arch Therapeutics, Inc. (OTCQB: ARTH) (“Arch” or the “Company”), developer of novel self-assembling wound care and biosurgical devices, today announced that it has appointed Michael S. Abrams its Chief Financial Officer effective May 10, 2021. In alignment with the Company’s succession plan, Mr. Abrams joins Arch’s financial team today, one week before assuming the role currently held by the Company’s Chief Financial Officer, Richard Davis. Mr. Davis will remain with the Company during a Transition Period, which will end on June 30, 2021, after which he will support the Company in a consulting role through December 31, 2021. Mr. Abrams has over 25 years of experience as a Chief Financial Officer to numerous public and private companies;...

JERSEY CITY, N.J., May 03, 2021 (GLOBE NEWSWIRE) — Bel Fuse Inc. (Nasdaq: BELFA and BELFB), a designer, manufacturer and provider of products that power, protect and connect electronic circuits, today announced preliminary financial results for the first quarter of 2021. First Quarter 2021 HighlightsNet sales of $110.6 million represent a 6.4% increase from $104.0 million in last year’s first quarter Gross profit of $24.3 million, or 21.9% of net sales, compared to $25.8 million, or 24.8% of net sales in Q1-20 GAAP net earnings of $3.2 million (leading to GAAP EPS of $0.24 per Class A share and $0.26 per Class B share) versus GAAP net loss of $(3.8) million in Q1-20 (GAAP net loss per share of $(0.30) per Class A share and $(0.31) per Class B share) Sale of Hong Kong property resulted in $6.2 million gain in Q1-21 which...

Positioned as Leader in Emerging Psychedelic Therapeutics Market through Robust IP Portfolio, Novel Clinical Trials and Evolving Proprietary Technology Strengthened Balance Sheet with Approximately $30 Million in Capital Raised Subsequent to the Year-End Announced Appointment of Experienced Software and Engineering Leader, William Cook as Interim CEO of Mindleap DENVER, May 03, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, today reported its financial results for the full year ended December 31, 2020 and provided a business update. “In 2020, our team worked diligently and effectively to establish...

Results for the First Quarter of 2021:Net loss attributable to the company of $6.5 million, or $(0.17) per diluted share inclusive of a $36.9 million gain related to the sale of certain assets and a $22.1 million charge related to the extinguishment of convertible notes Adjusted EBITDA of $15.4 million, exclusive of a $36.9 million gain related to the sale of certain assets Consolidated crush margin of $0.11 per gallon, significantly better than the prior year’s first quarter Strong liquidity position, with cash, cash equivalents and restricted cash of $654.4 million and $330.4 million available under committed credit facilities Fully funded its Total Transformation Plan during the quarter by completing over $600.0 million in transactions while retiring over $170.0 million of debtOMAHA, Neb., May 03, 2021 (GLOBE NEWSWIRE) —...

YONKERS, N.Y., May 03, 2021 (GLOBE NEWSWIRE) — ContraFect Corporation (Nasdaq: CFRX), a late clinical-stage biotechnology company focused on the discovery and development of direct lytic agents (DLAs), including lysins and amurin peptides, as new medical modalities for the treatment of life-threatening, antibiotic-resistant infections, today announced that the United States Patent and Trademark Office issued U.S. Patent No. 10,988,520 (the ‘520 patent), on April 27, 2021 for CF-370, the company’s second potential therapeutic product candidate. The ‘520 patent, which is owned by ContraFect, expires in March of 2039, and is the latest U.S. patent to issue from the company’s DLA patent portfolio. The ‘520 patent, entitled “Lysin-Antimicrobial Peptide (AMP) Polypeptide Constructs, Lysins, Isolated Polynucleotides Encoding Same and...

COVAXIN effectively neutralizes Brazil variant along with UK variant and India double mutant variantPotential effectiveness against multiple variants reduces the possibility of mutant virus escapeAccording to World Health Organization, the double mutant variant of SARS-CoV-2 has spread to at least 17 countriesMALVERN, Pa., May 03, 2021 (GLOBE NEWSWIRE) — Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19, today announced that in a new study, scientists at Indian Council of Medical Research (ICMR)-National Institute of Virology have found that COVAXIN demonstrated potential effectiveness against the Brazil variant of SARS-CoV-2, B.1.128.2. As previously disclosed, a study...