Originals CIPO http://originalscipo.info/ Thu, 23 Jun 2022 22:01:47 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://originalscipo.info/wp-content/uploads/2021/11/cropped-icon-32x32.png Originals CIPO http://originalscipo.info/ 32 32 Philex Mining’s stock rights offering will continue next month https://originalscipo.info/philex-minings-stock-rights-offering-will-continue-next-month/ Thu, 23 Jun 2022 21:20:00 +0000 https://originalscipo.info/philex-minings-stock-rights-offering-will-continue-next-month/

Philex Mining Corp., led by Manuel Pangilinan, is set to stage its stock rights offering (SRO) next month as the company ramps up trading activities.

In a statement to the Philippine Stock Exchange, Philex Mining said it plans to hold the fundraising activity from July 14-25.

Up to 842 million shares will be offered to the market at a maximum price of P4.81 each. The offer price is yet to be determined.

“Please note that the conduct of the SRO and relevant details, including timing, are still subject to regulatory approvals and are not yet final,” he added.

Volatile market conditions forced Philex Mining to suspend its SRO plans, which would allow the listed company to raise 3.15 billion pesos.

The company announced its decision in April, which was made in consultation with BDO Capital & Investment Corp., the issue manager and lead underwriter of the transaction.

“The mining sector is booming, with gold and copper prices holding at higher levels. We will continue our fundraising, which includes ORS, to help fund the launch of our Silangan mine as soon as possible,” Francis Joseph Ballesteros Jr., public and regulatory affairs manager for Philex Mining, told the Inquirer.

Silangan Project

Philex Mining intends to start the $224 million Silangan copper-gold project in Surigao del Norte, dubbed one of the largest mining projects in the Philippines, this year.

The first phase of this project concerns the development of a start-up mine which will produce approximately 2,000 tonnes of ore per day, with production to be gradually increased to reach 12,000 tonnes per day or 4 million tonnes per year.

Philex Mining is financing the development of the Silangan mine through a combination of capital injection, ORS and debt. The company alone is ready to inject between 2.5 and 3.5 billion pesos to get the ball rolling.

Commercial operations are targeted for the first quarter of 2025.

Philex Mining had expected to generate nearly $7 billion in metallic mineral sales over the 28-year life of the Silangan project, which covers the Boyongan and Bayugo deposits in Mindanao.


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Bailard launches development-focused multi-family real estate fund https://originalscipo.info/bailard-launches-development-focused-multi-family-real-estate-fund/ Thu, 23 Jun 2022 14:00:00 +0000 https://originalscipo.info/bailard-launches-development-focused-multi-family-real-estate-fund/

FOSTER CITY, Calif.–(BUSINESS WIRE)–Bailard, an independent, values-focused asset and wealth management firm, is pleased to announce the launch of its new development-focused multi-family real estate strategy, alongside its core private equity real estate fund diversified with open capital.

The Bailard Multifamily Fund, LP (“BMF”) will focus on building “achievable Class A” units with first-class amenities in underserved growth markets across the country. The BMF intends to capitalize on the shortage of affordable rental housing/labour in the United States. Demographic and economic trends are resulting in significant unmet demand from middle-income earners for new, high-quality rental housing, which Bailard says creates an attractive opportunity for new developments. The Fund will target “ABCD” markets, defined as having, among others, the following attributes:

  • Affordability

  • Business-friendly environment

  • College diploma

  • Demographic strength and excellent growth measures

“The past two years have had a huge impact on housing markets across the country, especially for renters,” said Preston Sargent, President and CEO of Bailard Real Estate Fund and Head of Real Estate. Baillard. “Bailard’s team of investment professionals is launching this fund to access a significant and actionable opportunity for investors, and believe it will also deliver societal benefits by creating more affordable housing options for Americans who live in it. need. Increasing access to high-quality, moderately priced apartments is all the more important as rising mortgage rates crowd out potential first-time home buyers.

Preston Sargent and Tess Gruenstein, with over 40 years of combined investment expertise, will act as co-portfolio managers of the Bailard Multi-Family Fund. BMF builds on the strong track record of multi-family development within the firm’s existing flagship fund, Core. Multi-family developments targeted by BMF will include a range of desirable amenities including a community pool, fitness center, clubhouse with business center, and a variety of energy-efficient features to enhance tenant satisfaction and environmental benefits.

“Through the team’s multi-family developments executed to date, we have seen the returns this strategy can deliver for our investors, as well as the strong demand for this type of development in ‘ABCD’ markets across the country,” explained Tess Gruenstein, Senior Vice President of Acquisitions and Portfolio Management at Bailard. “This new fund builds on our existing expertise, offering our investors the opportunity for increased exposure to the asset class in a different risk profile than our Core fund.”

For more information, please visit bailard.com/immobilier.

About Bailard Immobilier

The unwavering mission of Bailard’s real estate investment team is to outperform by uncovering value, focusing on the fundamentals during acquisition and actively managing each property throughout its life cycle. Bailard has over 40 years of experience in real estate investing and, during this extensive campaign, has gone through five full cycles in the real estate market. The size and structure of the team allow it to be agile, flexible and opportunistic in the execution of its investment and portfolio management strategies. Bailard prides itself on transparency and high quality customer service across its diverse clientele that encompasses both institutions and individuals.

About Bailard, Inc.

Founded in 1969, Bailard is an independent asset and wealth management firm serving individuals, families and institutions. Bailard has built up long-term asset management experience in domestic and international equities, fixed income and private real estate, as well as strong in-house ESG expertise. Through it all, and in line with its core principles and strong ESG mindset, Bailard works with its clients to align their financial goals with their values.

With over $5 billion under management as of 03/31/2022, Bailard is a majority employee-owned and women-led company, and a signatory to the Principles for Responsible Investment (PRI). A values-driven company based in the San Francisco Bay Area, Bailard has its own private charitable foundation and is deeply committed to its core values ​​of Responsibility, Compassion, Courage, Excellence, Fairness and Integrity. independence.

Disclosures

Bailard, Inc. (“Bailard”) is the investment manager of Bailard Multifamily Fund, LP (the “Fund”) and is the investment and operating manager of Bailard Real Estate Investment Trust, Inc. (the “Bailard Real Estate Fonds”). Bailard receives annual fees from the funds, which are based on the net asset value. development and ownership of income-producing real estate, including illiquidity, fluctuations in supply and demand, and inaccurate valuation Stocks and interests fluctuate in value and may be illiquid due to a lack of redemption, absence of a secondary market and transfer restrictions Fees and expenses may offset return on investment The Fund may be leveraged Although projects may ections used for acquisitions are based on assumptions that Bailard believes are reasonable under the circumstances, they are subject to uncertainties, changes (for example, changes in public health, economic, operational, political, legal, tax and others) and other risks, including, but not limited to, future operating results, including rent, occupancy and other real estate cash flows, and other expenses.

The inception date of the Bailard Real Estate Fund is April 20, 1990. The Bailard Multifamily Fund, LP is a new private real estate fund formed by Bailard, Inc., a California corporation to facilitate investment in multifamily residential real estate projects located in the United States -United. States. The Bailard Multifamily Fund, LP will be formed as a Delaware limited partnership. Bailard Real Estate 2022 GP LLC, a newly formed Delaware limited liability company (the “General Partner”), will act as general partner of the Fund; and, Bailard will manage the investment process and day-to-day operations of the Fund as investment manager. Investors will be admitted to the Fund as limited partners in accordance with the terms and conditions contained in the Fund’s confidential private placement memorandum dated April 2022. This does not constitute an offer. Shares of either fund, if offered, would only be available for purchase by qualified investors. This notice is qualified in its entirety by, and an offer or solicitation will only be made by way of a final confidential offering memorandum or private placement memorandum, as applicable, and will be subject to the terms and conditions contained in each memorandum, respectively. Securities of the Fund may not be available for sale in all states.

It should not be assumed that recommendations made in the future will pay off or equal the performance described here. For a more in-depth discussion of the risks of making an investment in either Sub-Fund, please refer to its Memorandum, including the respective sections relating to Risk Factors. Past performance is not indicative of future results. All investments involve a risk of loss.

]]> New Chinese equity options to help retail investors hedge risk https://originalscipo.info/new-chinese-equity-options-to-help-retail-investors-hedge-risk/ Thu, 23 Jun 2022 05:25:51 +0000 https://originalscipo.info/new-chinese-equity-options-to-help-retail-investors-hedge-risk/

China plans to soon launch equity index futures and options based on the CSI1000 index, which tracks 1,000 small caps listed in Shanghai and Shenzhen.

Draft regulations published by the China Financial Futures Exchange (CFFEX) on Wednesday could give foreign and domestic investors additional hedging tools and potentially lead to new investment products.

Currently, CFFEX only offers three types of equity index futures products, following the mega cap SSE50 index, the blue chip CSI300 index and the small cap CSI500 index respectively.

New derivatives will help diversify portfolios and make it easier to invest in small cap stocks, Huatai Futures said in a note.

China is deepening its capital markets

It also shows that China continues to deepen its capital markets, offering new tools to help investors mitigate risk. China has already allowed foreign investors to trade domestic index futures.

Chinese mutual fund companies have already launched more than a dozen funds following CSI1000, and the planned derivatives will likely increase the number of investment programs betting on small caps.

HuaAn Fund Management Co this month launched a CSI1000 tracking index fund that seeks enhanced returns.

China launched its first equity index futures product in 2010, but imposed draconian restrictions on index futures trading during the stock market crash of 2015.

It has gradually eased trading restrictions over the past few years, and the annual turnover of CSI500 index futures has already surpassed the 2015 peak, although trading of the other two index futures products remains weak.

The draft rules for new derivatives have been published on the CFFEX website and are soliciting public opinion until June 28.

• Reuters with additional editing by Sean O’Meara

READ ALSO :

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Sean O’Meara

Sean O’Meara is an editor at Asia Financial. He has been a newspaper man for over 30 years, working for local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. Passionate about football, cricket and rugby, he is particularly interested in the financing of sport.

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ToughBuilt Industries Announces Closing of $6 Million Public Offering | New https://originalscipo.info/toughbuilt-industries-announces-closing-of-6-million-public-offering-new/ Wed, 22 Jun 2022 21:31:54 +0000 https://originalscipo.info/toughbuilt-industries-announces-closing-of-6-million-public-offering-new/

LAKE FOREST, Calif., June 22, 2022 (GLOBE NEWSWIRE) — ToughBuilt Industries, Inc. (“ToughBuilt” or the “Company”) (NASDAQ: TBLT; TBLTW), today announced the closing of its previously announced public offering of 3,157,895 shares of its ordinary stock (or pre-funded warrants instead), together with warrants to purchase up to 3,157,895 shares of its ordinary stock at a public offering price of $1.90 per share (or prefunded warrant) and associated guarantee. The warrants will have an exercise price of $1.90 per share, are exercisable upon issuance and will expire five years from the date of issuance.

HC Wainwright & Co. acted as exclusive placement agent for the offering.

The Company’s gross proceeds from the offering were approximately $6 million, before deducting placement agent fees and other offering costs payable by ToughBuilt. The Company intends to use the net proceeds of the offering for general corporate purposes, including working capital and the redemption of certain existing warrants.

A registration statement on Form S-1 (File No. 333-264930) relating to these securities has been filed with the Securities and Exchange Commission, or SEC, and was declared effective by the SEC on June 17, 2022. The offering has been made solely by means of a prospectus, which forms part of the actual registration statement. Electronic copies of the final prospectus may be obtained free of charge from the SEC’s website at http://www.sec.gov and may also be obtained by contacting HC Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or by email at investments@hcwco.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, and there will be no sale of such securities in any state or other jurisdiction in which a such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.

ABOUT TOUGHBUILT INDUSTRIES, INC.

ToughBuilt is an advanced product designer, manufacturer and marketer with a focus on innovative products. Currently we focus on tools and other accessories for the professional construction and DIY industries. We market and distribute various lines of home improvement and construction products for the DIY and professional markets under the TOUGHBUILT® brand, within the global multi-billion dollar-a-year tool market industry . All of our products are designed by our in-house design team. Since launching product sales in 2013, we have experienced significant annual sales growth. Our current product range comprises three main categories, with several additional categories in various stages of development, consisting of Soft Goods & Kneepads and Sawhorses & Work Products. Our mission is to provide the building and home improvement communities with innovative, superior products resulting in part from informed creativity for our end users while enhancing performance, enhancing well-being and by strengthening brand loyalty. Additional information about the Company is available at: https://www.toughbuilt.com/.

FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements”. Such statements include, but are not limited to, statements regarding the intended use of the proceeds of the offer and may be preceded by the words “intends”, “may”, “will”, “plans”. , “expects”, “anticipates”, “projects”, “predicts”, “estimates”, “aims”, “believes”, “hopes”, “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the Company and cannot be predicted or quantified and, therefore, the actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties associated with (i) the impact of the global COVID-19 pandemic and government actions on our business, (ii) supply chain disruptions. supply, (iii) market acceptance of our new products, (iv) delays in product introduction in key markets, (v) inability to obtain regulatory approvals for the ability to sell our products in certain markets, (vi) intense industry competition from much larger multinational corporations, (vii) product liability claims, (viii) product malfunctions, (ix) our manufacturing capabilities limitations and our reliance on subcontractors for assistance, (x) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (xi) our d reliance on sole suppliers for certain product components, (xii) the fact that we will need to raise additional capital to meet our business needs in the future and that raising capital may be costly, dilutive or difficult to obtain, (xiii) the fact that we operate in multiple foreign jurisdictions, exposing us to currency exchange rate fluctuations, logistical and communication challenges, the burdens and costs of complying with foreign laws and policies and economic instability in each jurisdiction, (xiv) our use of net proceeds from the offering, and (xv) market and other conditions. More detailed information about the Company and the risk factors that could affect the making of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s annual report on Form 10-K and its quarterly reports. on Form 10-Q. Investors and security holders are urged to read these materials free of charge on the SEC’s website at http://www.sec.gov. The Company undertakes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, except as required by law.

Contact with Investor Relations:

KCSA Strategic Communications

David Hanover

ToughBuilt@KCSA.com

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ToughBuilt Industries Announces Closing of $6 Million Public Offering https://originalscipo.info/toughbuilt-industries-announces-closing-of-6-million-public-offering/ Wed, 22 Jun 2022 21:30:00 +0000 https://originalscipo.info/toughbuilt-industries-announces-closing-of-6-million-public-offering/

ToughBuilt Industries, Inc.

LAKE FOREST, Calif., June 22, 2022 (GLOBE NEWSWIRE) — ToughBuilt Industries, Inc. (“ToughBuilt” or the “Company”) (NASDAQ: TBLT; TBLTW), today announced the closing of its 3 157,895 shares of its ordinary stock (or pre-funded warrants instead), together with warrants to purchase up to 3,157,895 shares of its ordinary stock at a public offering price of 1, $90 per share (or prefunded warrant) and associates guarantee. The warrants will have an exercise price of $1.90 per share, are exercisable upon issuance and will expire five years from the date of issuance.

HC Wainwright & Co. acted as exclusive placement agent for the offering.

The Company’s gross proceeds from the offering were approximately $6 million, before deducting placement agent fees and other offering costs payable by ToughBuilt. The Company intends to use the net proceeds of the offering for general corporate purposes, including working capital and the redemption of certain existing warrants.

A registration statement on Form S-1 (File No. 333-264930) relating to these securities has been filed with the Securities and Exchange Commission, or SEC, and was declared effective by the SEC on June 17, 2022. The offering has been made solely by means of a prospectus, which forms part of the actual registration statement. Electronic copies of the final prospectus may be obtained free of charge from the SEC’s website at http://www.sec.gov and may also be obtained by contacting HC Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or by email at investments@hcwco.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, and there will be no sale of such securities in any state or other jurisdiction in which a such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.

ABOUT TOUGHBUILT INDUSTRIES, INC.

ToughBuilt is an advanced product designer, manufacturer and marketer with a focus on innovative products. Currently we focus on tools and other accessories for the professional construction and DIY industries. We market and distribute various lines of home improvement and construction products for the DIY and professional markets under the TOUGHBUILT® brand, within the global multi-billion dollar-a-year tool market industry . All of our products are designed by our in-house design team. Since launching product sales in 2013, we have experienced significant annual sales growth. Our current product range comprises three main categories, with several additional categories in various stages of development, consisting of Soft Goods & Kneepads and Sawhorses & Work Products. Our mission is to provide the building and home improvement communities with innovative, superior products resulting in part from informed creativity for our end users while enhancing performance, enhancing well-being and by strengthening brand loyalty. Additional information about the Company is available at: https://www.toughbuilt.com/.

FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements”. Such statements include, but are not limited to, statements regarding the intended use of the proceeds of the offer and may be preceded by the words “intends”, “may”, “will”, “plans”. , “expects”, “anticipates”, “projects”, “predicts”, “estimates”, “aims”, “believes”, “hopes”, “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the Company and cannot be predicted or quantified and, therefore, the actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties associated with (i) the impact of the global COVID-19 pandemic and government actions on our business, (ii) supply chain disruptions. supply, (iii) market acceptance of our new products, (iv) delays in product introduction in key markets, (v) inability to obtain regulatory approvals for the ability to sell our products in certain markets, (vi) intense industry competition from much larger multinational corporations, (vii) product liability claims, (viii) product malfunctions, (ix) our manufacturing capabilities limitations and our reliance on subcontractors for assistance, (x) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (xi) our d dependence on sole suppliers for certain product components, (xii) the fact that we will need to raise additional capital to meet our business needs in the future and that raising capital may be costly, dilutive or difficult to obtain, (xiii) the fact that we operate in multiple foreign jurisdictions, exposing us to exchange rate fluctuations, logistical and communication challenges, the burdens and costs of complying with foreign laws and policies and the economic instability in each jurisdiction, (xiv) our use of net offering proceeds, and (xv) market and other conditions. More detailed information about the Company and the risk factors that could affect the making of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s annual report on Form 10-K and its quarterly reports. on Form 10-Q. Investors and security holders are urged to read these materials free of charge on the SEC’s website at http://www.sec.gov. The Company undertakes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, except as required by law.

Contact with Investor Relations:

KCSA Strategic Communications
David Hanover
ToughBuilt@KCSA.com

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Construction of the Whiteland mixed-use development begins next month https://originalscipo.info/construction-of-the-whiteland-mixed-use-development-begins-next-month/ Wed, 22 Jun 2022 19:03:00 +0000 https://originalscipo.info/construction-of-the-whiteland-mixed-use-development-begins-next-month/

Whiteland’s first mixed-use development is now underway, with construction of the first building due to begin in 30 days.

Westfield-based Patch Development is building an almost 159-acre mixed-use development on the southwest corner of Whiteland and Graham roads. The property, now called Gateway @ Whiteland, will include apartments, several smaller buildings for restaurant and retail space, mid-rise buildings for flexible commercial space and a large light industrial building.

The Whiteland Planning Commission on Tuesday approved the first construction platform for the first building, which will be a 617,316 square foot industrial building located at the southeast rear of the property. There are 12 total lots planned for the property, including a 300-unit apartment complex.

Construction is expected to begin next month. The industrial building will be speculative, with a tenant to come later. Patch Development is already in talks with potentially interested companies, said Patch Development’s Andrew Greenwood.

Ideally, they’re looking for a tenant in the advanced manufacturing industry and are particularly mindful of which company they’ll be renting the space from, Greenwood said.

A digital rendering of the planned over 600,000 square foot industrial building in the new mixed-use development in Whiteland to the southwest. corner of Whiteland and Graham roads. Westfield-based Patch Development is developing the property on 159 acres of former farmland. Photo courtesy of Patch Development

Patch Development also plans to apply for a property tax abatement from the city and is in the process of preparing it. Municipalities offering tax breaks are now common practice in order to attract business development, Greenwood said.

“That discount is passed directly to the renter…so if we don’t have that and can’t offer it, we can’t attract any business because if you go to Plainfield or Greenwood or Franklin they’re all offering discounts said Greenwood.

Prior to the planning commission meeting, a few neighboring residents who live next to the planned development came to the town hall for an information meeting with the developers.

Many locals said they weren’t a fan of the massive project taking place outside their homes, but they embraced it anyway.

Angela Graves, who lives on Graham Road opposite the south end of the site, was unsure what to make of the project but she is trying to stay positive, she said.

She moved to Whiteland 11 years ago when it was just farm fields, she said.

“I love this town, it just has that old country town feeling, but it loses that really fast,” Graves said.

She had concerns, as did others present, about the possible widening of Whiteland or Graham roads for the project. She didn’t want the city to use eminent domain to enter her property to widen the road, but she was sure that wouldn’t happen.

There are currently no plans to widen Graham and Whiteland Roads on site. However, left turn lanes will be added on both roads to avoid traffic jams, Greenwood said.

Graves also felt better knowing that none of the entrances to the property are in front of her house. There will be at least 25 feet of buffer zone between the development and neighboring properties. Trees will be planted throughout the development and outside along the roads, with drainage basins and earth mounds to protect the development from existing neighbours.

Drainage was another issue raised by local residents. Flooding to the north is expected to be mitigated through the development’s drainage plan as water will drain to ponds on the property.

There were also concerns about building construction and noise when businesses inside are operating. Greenwood said all work being done on the property will comply with the city’s noise ordinance between 7 a.m. and 9 p.m.

Jaquelyn and Charles Hutt have lived in their home along Graham Road since 2003, they said. They do not support the project, but attended the meeting to inquire and ask questions.

Jaquelyn Hutt also said she felt their property had been “compressed” by development over the years.

The total time expected to build the entire Gateway property is about five to seven years, Greenwood said.

The apartment complex along the northern end of the property on Whiteland Road would have all 300 market-priced units arranged around a pond. A public park, called Horsely Park, is also planned near the complex.

Some of the smaller commercial lots will be reserved for retail and restaurant space, which will be along Whiteland Road. Other buildings will be designated for flexible commercial spaces that can be customized for many different uses, including offices or warehouses.

The planned unit development details which businesses are expected and not permitted to enter the site. Truck stops, gas factories or harmful industrial buildings, for example, will not be allowed there. Commercial blocks allow for a range of businesses from law firms, entrepreneurs and research centers to breweries, grocery stores and bed and breakfasts.

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FactSet sets fundamental bar high, but stock isn’t cheap (FDS) https://originalscipo.info/factset-sets-fundamental-bar-high-but-stock-isnt-cheap-fds/ Wed, 22 Jun 2022 12:38:00 +0000 https://originalscipo.info/factset-sets-fundamental-bar-high-but-stock-isnt-cheap-fds/

shapecharge/E+ via Getty Images

Information and innovation are now at the forefront of capital market growth. It’s no wonder that data and financial solutions providers are experiencing an upsurge in business. Over the past decade, FactSet Research Systems Inc. (NYSE: MSDS) accelerated its growth. Its acquisitions expanded its capacity as more and more clients poured into the capital market. Fortunately, this appears to be fruitful as revenue and margin expansion remain solid. It maintains stable cash levels and stable financial leverage. As such, it can support its expansion, borrowing and dividends. Still, the stock price seems divorced from its impressive fundamentals.

Business performance

FactSet provides financial data and analytics, and software solutions to customers around the world. For more than four decades, it has adapted to market changes and digital transformation. From its offices across the regions, it works to create value for its stakeholders. Today, it remains a valuable platform for asset managers and other investment professionals.

Its revenue comes primarily from customer subscriptions. It gives them access to financial data and analysis, aggregated market data and other software solutions. In its financial segment, the raw materials come in the form of financial reports, which the analyst rearranges using an app. The accounts are reclassified according to FDS accounting principles. Even so, it is still consistent with GAAP used in financial reporting. Financial data appears as simplified financial statements with financial ratios and workflow information. Even better, they can access global market information and industry trends. The app also allows clients to monitor their portfolio performance and execute trades. As such, FDS provides a seamless user experience in data analysis and risk management. It combines its technology offerings and data solutions with its customer services.

Its operating income of $431 million is a 10% year-over-year growth from $392 million in Q2 2021. Driven by increased demand for research, consulting and analytics solutions. He is also motivated by his prudent acquisitions, investments and disposals. Although its peers have similar offers, the opportunities remain high. Information and technology remain at the forefront of market developments. Moreover, differentiated content is what sets every business apart from the rest. Compared to its closest peers, it holds a market share of 6.2% compared to 6.1%. Additionally, its revenue growth is above the peer average of 8.8%. I included S&P Global (SPGI) since it owns Capital IQ, a direct competitor. Similarly, the London Stock Exchange Group (LSEG) has Refinitiv.

FactSet Operating Revenues

Operating revenue (Market watch)

FactSet market share

Market share (Market watch)

But what makes it enduring is its strong following. He has 90% customer loyalty and 5% increase in the number of users. Of course, sustained growth is not driven by market demand for content alone. In fact, it’s one of the companies capitalizing on cautious M&As and investments. These appear to be successful, allowing FDS to improve digital capabilities and data management strategy. Even better, they help accelerate its revenue growth while improving its productivity. It shows that FDS maintains effective asset management as it expands its capacity. Costs and expenses increase but remain relatively lower than operating income. Thus, the operating margin without exceptional charges is even higher at 32%.

FactSet Operating Margin

Operating margin (Market watch)

This year, FactSet estimates its operating revenue to be $1.8–1.83 billion. Meanwhile, their operating margin estimate, including one-time charges, is 26%. I also have an optimistic view, but my estimate is less than $1.72 billion. It is in line with average revenue growth in recent years and quarterly values. This may be a conservative estimate, given the potential impact of inflationary pressures.

FactSet Operating Revenue Outlook

Operating revenue (2Q 2022 report and author’s estimate)

Why FactSet Research Systems Inc. can maintain its success

The capital market is expanding but is facing macroeconomic pressures. Inflation increases operating costs, but its impact can extend further. This can affect the market as it erodes the value of earnings. As such, it can be difficult to assess the value of companies, especially those that are part of stock indices. This also applies to the FDS, given that it is part of the S&P 500.

Fortunately, FactSet Research Systems Inc. continues to demonstrate strong performance. Its steady revenue growth and expanding margins remain evident. Even better, it is now better able to meet the needs of more customers and improve its processes thanks to its recent mergers and acquisitions. It continues to expand its offering in the private market and improves workflow solutions through targeted investments. The broad scope of its data and analytics enables it to offer more accurate insights and solutions. It can even maximize its untapped potential in other regions. Note that more than 50% of its income comes from the United States. The United States alone understands $121.9 trillion, which accounts for more than half of the world’s market capitalization. $39 trillion comes from the Asia-Pacific region, while $45 trillion is the combined value of other regions.

For more efficient trading and market settlement, FDS now owns CUSIP Global Services (CGS). In turn, the company is offering $1 billion in senior notes. As such, FactSet will play a more crucial role in the capital market. This may attract more demand since CUSIP operates as a provider of a single common language or code for financial instruments across exchanges. FactSet can streamline its products and workflow capabilities by using it.

Besides its ability to expand, FactSet shows its sustainability through its strong balance sheet. It has impressive liquidity, given its stable cash levels and financial leverage. Its cash and cash equivalents of $808 million are 30% higher than in 2Q 2022. Meanwhile, borrowings are lower at $838 million versus $884 million. But, it will have a substantial raise, given the issuance of its senior notes to acquire CUSIP. Even so, this decision can pay off in no time. Note that the entity covers 170 million dollars of income in S&P Global. It’s also a staple in the financial market, which makes it an advantage for FactSet. Additionally, FactSet continues to generate positive cash inflows, increasing its cash levels. Currently, cash covers 34% of total assets, so it remains very liquid. Additionally, net debt/EBITDA is low at 1.34x. If we add the senior ratings, the ratio will be 2.96x. But, it is still below the maximum range of 4x. This means that the company has sufficient income to cover its borrowings.

FactSet Cash and cash equivalents and borrowings

Cash and cash equivalents and borrowings (Market watch)

FactSet may also need to be careful with its Goodwill since it already represents 33% of total assets. But, it is typical for S&P 500 companies to have a 30-40% percentage as they acquire more assets and businesses. Plus, it’s still below the maximum percentage of 40%, so FactSet isn’t overspending yet. Its deep value and growth remain attractive, which can generate more revenue.

Stock price valuation

FactSet’s stock price has fallen sharply since the end of the previous year. To $354.36, it has already been reduced by 26% compared to its starting price. Still, it doesn’t seem to be cheap. These measures show that the stock price is not yet fairly valued. The same goes for its close peers, making FDS the second most valuable stock on the list.

P/E ratio

P/B ratio

EV/EBITDA

set of facts

32.13

10.88

23.56

Thomson Reuters

29.23

4.29

31.17

the morning star

53.87

7.24

26.70

Tradeweb

58.02

2.99

MarketAxess

41.49

9.76

25.97

When it comes to its dividend payouts, the company remains consistent and generous. The amount increases by 11% on average. Additionally, he is part of Dividend Contenders as he has been paying and raising dividends for over 20 years. But, the dividend yield is only 1%, which is much lower than the S&P 500 average. To better assess the price, we can refer to the DCF model and the dividend discount model.

DCF model

FCFF $426,150,000

Cash and cash equivalents $808,000,000

Borrowings $838,000,000

Growth rate to infinity 4.8%

WACC 9.2%

Common shares outstanding 37,884,000

Share price $354.36

Derived value $288.88

Dividend discount model

Share price $354.36

Average dividend growth 0.1111541418

Estimated dividend per share $3.42

Cost of capital Equity 0.1238053439

Derived value $300.3843446 or $300.38

The value derived in both models confirms the potential overvaluation. The stock price may still be expensive even after the downward trend continues. As such, there is a potential price drop of 16-20%.

Conclusion

FactSet Research Systems Inc. is a very solid, viable and liquid company. It develops while keeping its fundamentals solid and intact. But even though it’s a strong buy for me, the price doesn’t seem cheap today. Moreover, it is not an attractive dividend stock, given the low dividend yield. The recommendation is that FactSet Research Systems Inc. is an expectation.

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Astoria West Waterfront Residential Development Launches Rental https://originalscipo.info/astoria-west-waterfront-residential-development-launches-rental/ Wed, 22 Jun 2022 03:44:14 +0000 https://originalscipo.info/astoria-west-waterfront-residential-development-launches-rental/

Cape Advisors, the New York-based real estate development and investment firm, today announced the official launch of leasing for its new rental property, Astoria West. Located along the East River waterfront’s Cove Beach, the amenity-driven development comprises three buildings with an interior garden and 534 thoughtfully designed residences. Astoria West’s contemporary homes are anchored in flexible layouts designed to meet the needs of today’s modern tenants, as well as an unparalleled collection of amenities, spanning over 40,000 square feet and include one of the most comprehensive lifestyle packages in New York. Seamlessly connected to Manhattan via a four-minute ferry ride, the development reshapes Astoria’s waterfront which has yet to see new residential development of this scale and caliber.

“Astoria West represents our first development in Queens and the site itself could not have presented a more ideal opportunity for our entry into this thriving market,” said Craig Wood, CEO of Cape Advisors. “Astoria has some of the last waterfront land available for residential development in the city and boasts expansive parks as well as a thriving creative community rooted in one of the most popular and diverse dining and dining scenes. We saw a tremendous opportunity here to introduce a larger-scale development that aptly reflects the serviced lifestyle that so many New Yorkers crave and that will redefine the experience of living in the neighborhood.

RESIDENTIAL HOMES

Located at 30-77 Vernon Boulevard, steps from the East River waterfront and adjacent to the thriving arts district of Astoria, Astoria West’s elevated design is the brainchild of renowned architecture and design firm Fogarty Finger. The residences range from studios to T2. Along with a variety of layouts, the homes are filled with natural light and feature expansive bedrooms, ample closet space and nine-foot high ceilings. Astoria West’s ideal waterfront location provides incredible views from the property, which offer a host of unique perspectives, including the East River; the Robert F. Kennedy Triboro and Hell Gate bridges; quaint townhouses synonymous with the tree-lined streets of Astoria and the skylines of Manhattan and Long Island City.

Additional highlights of the residence include wide plank-style flooring; oversized custom windows; central heating and cooling; and the coveted Blomberg home stackable washers and dryers. Designed for home entertainment, the kitchens were outfitted with custom walnut cabinetry, blush concrete quartz countertops accented by a beige ceramic tile backsplash, and Grohe polished chrome fixtures. Those looking to hone their culinary skills will appreciate the top-of-the-line appliances, which include a Blomberg stainless steel electric range, ventilation hood and refrigerator. Spa-inspired bathrooms have deep soaking tubs; custom medicine cabinets and vanities; Grè Bianco ceramic tiled floor; and Grohe fixtures in polished chrome. Some houses have different types of outdoor spaces, from garden terraces to rooftop patios and terraces.

“We are very pleased to celebrate this final milestone and officially launch leasing efforts,” added David Kronman, president and director of Cape Advisors. “This will be a game-changing project for Astoria, and we are confident that Astoria West will resonate with tenants today and further elevate the residential supply in one of Queens’ most desirable neighborhoods.”

Thirty percent of residences in Astoria West provide affordable housing for middle-income New Yorkers.

APPROVALS

A cornerstone of the development, Astoria West’s extensive set of amenities is one of the largest of its kind in the city. While Astoria has become a hotbed of development in recent years, it has historically lacked the amenity-oriented residential buildings now synonymous with Manhattan and Brooklyn. The property’s strong collection of experiences and common spaces introduces a new dynamic to the neighborhood, while meeting the current demand for a residential offering of this caliber.

Set against the backdrop of the Manhattan and Long Island City skylines, the property’s expansive rooftop features a private residents’ pool club, lounge area, and waterfront deck with barbecue grills and cabanas. A landscaped private interior courtyard and gardens further illustrate the teams’ commitment to integrating shared outdoor spaces for the enjoyment of residents. A spacious coworking lounge with private work rooms and outdoor space will accommodate the growing remote workforce. The game room, media, billiards and karaoke rooms offer multiple opportunities to connect with friends and other residents, while a state-of-the-art fitness center with motion studio and golf simulator allows fitness enthusiasts to get clean. The younger residents of the building will also enjoy an on-site children’s playroom.

Astoria West also has a busy lobby; pet spa; bike storage; and shuttle service for local residents on the N and W trains. The on-site Riverfront Cafe & Bar ensures residents can start each day with caffeine, while the building’s indoor parking garage offers 276 parking spaces. parking – the greatest convenience for New Yorkers who own vehicles.

PIECE

Astoria is an in-demand neighborhood for people who love access to Manhattan with the nearby ferry and appreciate the space and value that comes from being just outside of town. The area is a destination for locals and tourists alike with its thriving arts district and access to Socrates Sculpture Park, Noguchi Museum and the Welling Court Mural Project. Conveniently located near these cultural hubs, Astoria West is also just a three-minute walk from the Manhattan Ferry, making for an easy and beautiful ride to Midtown in less than 25 minutes. Astoria West is also just steps away from the N and W subway lines, providing a seamless connection between Astoria and Queens Plaza or Astoria and 59th Street & Lexington Ave in Midtown East in as little as 8-10 minutes with direct access to the 7 Trains , E, M, R, 4, 5, and 6. Nearby Astoria Park offers nearly 60 acres of lush green space, waterfront access, and a community pool, and there are a host of other Lush parks and green spaces within walking distance of Astoria West including Rainy Park and Socrates Sculpture Park. At night, bustling bars take over bustling streets like 30th Avenue, where foodies can enjoy Michelin-starred restaurants and the best Greek cuisine in New York.

“For years, residents have constantly looked outside of Manhattan and Brooklyn to enjoy more space, better value, and an authentic New York neighborhood. Astoria in particular has garnered tremendous attention in recent years for these exact reasons as well as its proximity to Manhattan via the Ferry and N and W subway lines while offering incredible parks, nightlife and culture,” said David J. Maundrell III, executive vice president. to the new development of Corcoran. “Astoria West, with its thoughtful layouts and amenity-driven lifestyle experience, directly addresses the desire for an amenity-rich lifestyle experience, providing the necessary resonance point for those seeking new developments just outside the city. New York City is in dire need of a new development of this quality, and we look forward to bringing this exceptional project to market.

Corcoran New Development is the exclusive marketing and leasing agent for Astoria West. For more information, please visit www.astoriawestnyc.com. Take a virtual tour of Astoria West here.

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Arcellx Announces Closing of Increased Public Offering of Common Shares and Full Exercise of Option to Purchase Additional Shares by Underwriters https://originalscipo.info/arcellx-announces-closing-of-increased-public-offering-of-common-shares-and-full-exercise-of-option-to-purchase-additional-shares-by-underwriters/ Tue, 21 Jun 2022 20:01:00 +0000 https://originalscipo.info/arcellx-announces-closing-of-increased-public-offering-of-common-shares-and-full-exercise-of-option-to-purchase-additional-shares-by-underwriters/

REDWOOD CITY, CA., June 21, 2022 /PRNewswire/ — Arcellx, Inc. (NASDAQ: ACLX), a biotechnology company reinventing cell therapy by developing innovative immunotherapies for patients with cancer and other terminal diseases, today announced the closing of its increased public offering of 8,050,000 ordinary shares, which includes the full exercise by the underwriters of their option to purchase an additional 1,050,000 ordinary shares, at a public price of $16.00 per share. The total gross proceeds raised under the offering were $128.8 million, before deduction of subscription discounts and commissions and offering costs, payable by Arcellx. All shares in the offer were offered by Arcellx.

BofA Securities, SVB Securities, William Blair and Canaccord Genuity acted as joint bookrunners for the offering.

Registration statements relating to the offering have been filed with the Securities and Exchange Commission and are effective as of June 15, 2022. The offering has been made solely by means of a prospectus forming part of the registration statements, copies of which may be obtained from: BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, Attention: Service Prospectus, or by email at [email protected]; or SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by phone at 1-800-808-7525, ext. 6105, or by email at [email protected]. William Blair & Company, LLC, Attn: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, by phone at 1-800-621-0687, or by email at [email protected]; or Canaccord Genuity LLC, Attention: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110, or by phone at (617) 371-3900, or by email at [email protected]. Copies of the registration statements and final prospectus relating to the offering are also available at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and there will be no 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 such state or territory.

About Arcellx, Inc.

Arcellx, Inc. is a clinical-stage biotechnology company reinventing cell therapy by designing innovative immunotherapies for patients with cancer and other life-threatening diseases. Arcellx believes that cell therapies are one of the advanced pillars of medicine and Arcellx’s mission is to advance humanity by developing safer, more effective and more widely available cell therapies. Arcellx’s lead product candidate, CART-ddBCMA, is being developed for the treatment of relapsed or refractory multiple myeloma (r/r MM) in an ongoing Phase 1 study. CART-ddBCMA has been granted Fast Track, Orphan Drug, and Regenerative Medicine Advanced Therapy designations by the United States Food and Drug Administration.

Arcellx is also advancing its doseable and controllable CAR-T therapy, ARC-SparX, through two programs: a Phase 1 study of ACLX-001 for r/r MM, initiated in the second quarter of 2022; and ACLX-002 in relapsed or refractory acute myeloid leukemia and high-risk myelodysplastic syndrome, which is expected to enter the clinic in the second half of 2022.

For more information please contact:

Myesha Lacy
Arcellx, Inc.
[email protected]

SOURCEArcellx, Inc

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Share Comment: Globe Board Approves P32-B Rights Offering https://originalscipo.info/share-comment-globe-board-approves-p32-b-rights-offering/ Tue, 21 Jun 2022 01:00:00 +0000 https://originalscipo.info/share-comment-globe-board-approves-p32-b-rights-offering/

The Globe Telecom [GLO 2092.00 5.77%] [link] the board approved a plan to conduct a stock rights offering (SRO) to raise 32 billion pesos from existing shareholders.

The shares will come from the increase in GLO’s authorized share capital which was already approved by the board of directors and shareholders in April.

GLO will use SRO money to “accelerate growth” and support “strategic initiatives,” including “mobile and broadband-related” investments, and debt repayment of “loans used to fund infrastructure spending.” capital”.

GLO selected BPI Capital, the investment banking subsidiary of its sister company, BPI [BPI 93.50 1.37%]to be the “unique global coordinator” of the OAR.

BPI Capital and PNB Capital will be co-managers for the part of the SRO that will be sold in the Philippines. No word yet on the really important details, like dates, price or duty ratio.

MB RESULTS

It’s refreshing to see a big company like GLO go to market to cash in on something related to growth, like capital expenditure, and not something related to survival, like working capital.

I’ll reserve my opinion on the SRO itself until I have a chance to see in more detail what GLO will be using the money for, specifically, and what kind of rebate and entitlement ratio we’ll get for the actual SRO shares.

At current prices, GLO would need to sell about 15.3 million ordinary shares to raise 32 billion pesos, which would be (very roughly) about 1 SRO share for every 10 GLO shares. Of course, the actual SRO stock price could be quite different from my estimate.

It’s up to GLO’s board of directors to decide what kind of discount existing shareholders should get for having to respond to this capital call.

The larger the discount, the higher the duty rate. It’s interesting to see GLO and the Ayala Group moving forward with an SRO for GLO after canceling the share swap and follow-up offer with ACE Enexor [ACEX 8.00] and AC energy [ACEN 7.34 0.55%] just a few weeks ago due to “market conditions”.

Don’t try to infer anything here! I just felt that canceling this whole transaction was irrelevant for the band. I will update here as GLO makes new details available to the public.

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