BDC
Bhopal, India
BDC
Bhopal, India

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The Company's summarized financial information is as follows: "In fiscal year 2017 we maintained our focus on expanding assets under management, maintaining our strong investment quality, broadening our investor base, diversifying sources of low-cost liquidity and increasing our pipeline of available deal sources," said Christian L. Oberbeck, Chairman and Chief Executive Officer of Saratoga Investment. "We achieved market-leading results. In fiscal year 2017, we continued to increase our quarterly dividend by 12% while increasing it every quarter, paying a total of $1.93 per share through a special dividend and our regular quarterly dividends. Our investments in our business development and origination team enabled us to keep apace of heavy redemptions, putting a record $127 million in new capital to work. AUM and NAV continue to grow. Total shareholder return for the most recent twelve months is almost 50%, and we remain at the top of the BDC space in terms of total return performance, both short- and long-term. In addition, we are well structured for a potential higher interest rate environment, with over 80% of our investments having floating rate interest rates and all of our currently outstanding debt fixed-rate and long-term. This has been another strong year for Saratoga Investment, and we are extremely pleased with the strong and leading risk-adjusted investment performance we have delivered for our shareholders." Michael J. Grisius, President and Chief Investment Officer, added, "During fiscal year 2017, the steady expansion of our asset base continued, with a year-on-year increase in our investments at fair value of 3%, and a 208% increase since 2012. Despite a market environment defined by reduced transaction volumes and high levels of repayments, we were able to review an increased amount of deal opportunities and deploy capital at a pace sufficient to grow AUM. Furthermore, we were able to do so generally at multiples below the market average. We continue to see demand for financing in the markets we serve and believe that our investments in new business development and origination capabilities will result in a continued robust and productive pipeline." As of February 28, 2017, Saratoga Investment increased its assets under management ("AUM") to $292.7 million, an increase of 3.1% from $284.0 million as of February 29, 2016, and an increase of 5.4% from $277.5 million as of November 30, 2016. This increase reflects the record originations of $126.9 million new investments during the year ended February 28, 2017, offset by significant repayments of $121.2 million during fiscal year 2017, generating a gross unlevered IRR of 17.0% for the fiscal year. These investments and repayments for the year are inclusive of the $41.1 million in originations and $26.5 million in repayments during the quarter ended February 28, 2017. Saratoga Investment's portfolio has continued to grow this quarter and remains strong, with a continued high level of investment quality in loan investments with 94.1% of our loans at our highest internal rating for this quarter. As a result, both the year and quarter ended February 28, 2017 benefitted from higher investment income as compared to the prior period – investment income increased to $33.2 million for the year ended February 28, 2017, up 10.3% from $30.1 million for the year ended February 29, 2016, and up to $8.4 million from $7.8 million for the same quarterly periods, a 7.2% increase. This increased investment income was generated from an investment base that has grown by 3.1% since last year, resulting in both higher interest income and other income. The investment income increase was offset by (i) increased debt and financing expenses from higher outstanding Notes payable and SBA debentures this year reflective of the growing investment and asset base, (ii) increased base and incentive management fees generated from the management of this larger pool of investments, and (iii) increased total expenses, excluding interest and debt financing expenses, base management fees and incentive fees, reflecting higher administrator and deal research fees. Net investment income on a weighted average per share basis was $1.68 and $0.19 for the year and quarter ended February 28, 2017, respectively. Adjusted for (i) the incentive fee accrual related to net unrealized capital gains, (ii) the loss on extinguishment of our 2020 notes, and (iii) the interest on the 2020 notes during the call notice period while the 2023 notes were already issued and outstanding, the net investment income on a weighted average per share basis was $2.01 and $0.49, respectively. This compares to adjusted net investment income per share of $1.90 and $0.45 for the year and quarter ended February 29, 2016, reflecting an increase of 5.8% and 8.9%, respectively. Net investment income yield as percentage of average net asset value ("Net Investment Income Yield") was 7.6% and 3.5% for the year and quarter ended February 28, 2017, respectively. Adjusted for (i) the incentive fee accrual related to net unrealized capital gains, (ii) the loss on extinguishment of our 2020 notes, and (iii) the interest on the 2020 notes during the call notice period while the 2023 notes were already issued and outstanding, the Net Investment Income Yield was 9.1% and 8.8%, respectively. In comparison, Net Investment Income Yield was 8.6% and 9.8% for the year and quarter ended February 29, 2016, respectively. Adjusted Net Investment Income Yield was 8.6% and 8.0% for the year and quarter ended February 29, 2016, respectively. Net Asset Value ("NAV") increased $2.1 million from $125.1 million as of February 29, 2016 to $127.3 million as of February 28, 2017. NAV per share was $21.97 as of February 28, 2017, compared to $22.06 as of February 29, 2016 and $22.21 as of November 30, 2017. Return on equity for the year and quarter ended February 28, 2017 was 9.0% and 3.9%, respectively, compared to 9.4% and -1.3% for the comparable periods last year. Earnings per share for the year and quarter ended February 28, 2017 was $1.98 (including $1.7 million net gain on investments) and $0.22 (including $0.2 million net gain on investments), respectively, compared to earnings per share of $2.09 and loss per share of $(0.07) for the year and quarter ended February 29, 2016, respectively. For the fiscal year ended February 28, 2017, Saratoga Investment reported net investment income of $9.7 million, or $1.68 on a weighted average per share basis, and a net gain on investments of $1.7 million, or $0.30 on a weighted average per share basis, resulting in a net increase in net assets from operations of $11.4 million, or $1.98 on a weighted average per share basis. Net investment income reflected a one-time $1.5 million loss associated with the extinguishment of Saratoga Investment's 2020 notes. The $1.7 million net gain on investments was comprised largely of $12.4 million in net realized gain on investments offset by $10.6 million in net unrealized depreciation on investments. The net realized gains primarily relate to realized gains on our investments in Take 5 Oil Change, LLC and Legacy Cabinets, Inc during the year. The net unrealized loss was due primarily to (i) $9.8 million change in unrealized depreciation related to these two realizations, with unrealized appreciation being adjusted to zero resulting in a change in unrealized depreciation for the year, and (ii) $1.6 million unrealized depreciation in our legacy Elyria investment. This compared to the fiscal year ended February 29, 2016 with net investment income of $10.7 million, or $1.91 on a weighted average per share basis, and a net gain on investments of $1.0 million, or $0.17 on a weighted average per share basis, resulting in a net increase in net assets from operations of $11.6 million, or $2.09 on a weighted average per share basis. The $1.0 million net gain on investments consisted of $0.2 million in net realized gains on investments and $0.7 million unrealized depreciation. Adjusted for (i) the incentive fee accrual related to net unrealized capital gains, (ii) the loss on extinguishment of our 2020 notes, and (iii) the interest on the 2020 notes during the call notice period while the 2023 notes were already issued and outstanding, the net investment income was $11.5 million and $10.6 million for the years ended February 28, 2017 and February 29, 2016, respectively – this is an increase of $0.9 million year-over-year, or 8.3%. For the quarter ended February 28, 2017, Saratoga Investment reported net investment income of $1.1 million, or $0.19 on a weighted average per share basis, and a net gain on investments of $0.2 million, or $0.03 on a weighted average per share basis, resulting in a net increase in net assets from operations of $1.3 million, or $0.22 on a weighted average per share basis. The $0.2 million net gain on investments was largely comprised of $0.09 million in net unrealized appreciation on investments offset by $0.07 million in net realized losses. This compared to the quarter ended February 29, 2016 with net investment income of $3.1 million, or $0.54 on a weighted average per share basis, and a net loss on investments of $3.5 million, or $0.62 on a weighted average per share basis, resulting in a net decrease in net assets from operations of $0.4 million, or $0.07 on a weighted average per share basis. The $3.5 million net loss on investments consisted of $4.0 million in net realized losses, offset by $0.5 million in net unrealized appreciation on investments. Adjusted for (i) the incentive fee accrual related to net unrealized capital gains, (ii) the loss on extinguishment of our 2020 notes, and (iii) the interest on the 2020 notes during the call notice period while the 2023 notes were already issued and outstanding, the net investment income was $2.8 million and $2.5 million for the quarters ended February 28, 2017 and February 29, 2016, respectively – this is an increase of $0.3 million year-over-year, or 10.6%. Total expenses, excluding interest and debt financing expenses, base management fees and incentive management fees, increased from $4.2 million for the year ended February 29, 2016 to $4.3 million for the year ended February 28, 2017, remaining consistent at 1.4% of average total assets for both years. For the quarters ended February 28, 2017 and February 29, 2016, these total expenses decreased from $1.25 million to $1.16 million. As of February 28, 2017, the fair value of Saratoga Investment's portfolio was $292.7 million (excluding $22.1 million in cash and cash equivalents), principally invested in 28 portfolio companies and one collateralized loan obligation fund ("CLO"). The overall portfolio composition consisted of 54.3% of first lien term loans, 30.0% of second lien term loans, 5.3% of subordinated notes in a CLO, 3.4% of syndicated loans, and 7.0% of common equity. For the fiscal year ended February 28, 2017, Saratoga Investment invested $126.9 million in new or existing portfolio companies and had $121.2 million in aggregate amount of exits and repayments, resulting in net investments of $5.7 million for the year.  For the quarter ended February 28, 2017, Saratoga Investment invested $41.1 million in new or existing portfolio companies, and had $26.5 million in aggregate amount of exits and repayments, resulting in net investments of $14.6 million for the quarter. As of February 28, 2017, the weighted average current yield on Saratoga Investment's portfolio for the twelve months ended was 10.8%, which was comprised of a weighted average current yield of 10.5% on first lien term loans, 11.7% on second lien term loans, 12.7% on CLO subordinated notes, and 5.3% on syndicated loans. As of February 28, 2017, 83.1% of Saratoga Investment's portfolio is in floating rate debt, with many of these investments having floors. For most of these investments, the relevant 1-month or 3-month LIBOR rate is currently above the floors. Saratoga Investment has analyzed the potential impact of changes in interest rates on interest income from investments, and assuming that the investments as of February 28, 2017 were to remain constant for a full fiscal year and no actions were taken to alter the existing interest rate terms, a hypothetical change of 1.0% in interest rates would cause a corresponding increase of approximately $2.2 million to interest income. During the quarter ended February 28, 2017, Saratoga Investment increased its first lien investment in Easy Ice, LLC to $26.7 million to facilitate a change of control transaction at the company. Concurrent with this transaction, it also invested $8.0 million in a significant preferred equity position. As part of a further recapitalization that is currently in advanced stages, there is expected to be a repayment of a significant portion of the first lien investment in the near term. As of February 28, 2017, Saratoga Investment had $0.0 million in outstanding borrowings under its $45 million senior secured revolving credit facility with Madison Capital Funding LLC. At the same time, Saratoga Investment had $112.7 million outstanding of SBA debentures, $74.5 million of Baby Bonds (fair value of $77.1 million) and an aggregate of $22.1 million in cash and cash equivalents. With the $45.0 million credit facility and the $37.3 million additional borrowing capacity at the SBIC subsidiary, as well as the $22.1 million of cash and cash equivalents, Saratoga Investment has a total of $104.4 million of undrawn borrowing capacity and cash and cash equivalents available as of February 28, 2017. The proceeds from the DRIP totaled $5.1 million of equity investments in fiscal year 2017. Saratoga Investment also has the ability to issue additional baby bonds through the existing shelf registration statement. On December 21, 2016, the Company issued $74.5 million in aggregate principal amount of our 6.75% fixed-rate notes due 2023 (the "2023 Notes") for net proceeds of $71.7 million after deducting underwriting commissions of approximately $2.3 million and offering costs of approximately $0.5 million. The issuance included the exercise of substantially all of the underwriters' option to purchase an additional $9.8 million aggregate principal amount of 2023 Notes within 30 days. Interest on the 2023 Notes is paid quarterly in arrears on March 15, June 15, September 15 and December 15, at a rate of 6.75% per year, beginning March 30, 2017. The 2023 Notes mature on December 30, 2023, and commencing December 21, 2019, may be redeemed in whole or in part at any time or from time to time at our option. The net proceeds from the offering were used to repay all of the outstanding indebtedness under the 2020 Notes, which amounts to $61.8 million, and for general corporate purposes in accordance with Saratoga Investment's investment objective and strategies. The 2023 Notes are listed on the NYSE under the trading symbol "SAB" with a par value of $25.00 per share. On March 16, 2017, we entered into an equity distribution agreement with Ladenburg Thalmann & Co. Inc., through which Saratoga may offer for sale, from time to time, up to $30.0 million of its common stock through an ATM offering. As of May 15, 2017, the Company sold 60,679 shares for gross proceeds of $1.4 million at an average price of $22.49 for aggregate net proceeds of $1.3 million (net of transaction costs). In fiscal year 2015, the Company announced the approval of an open market share repurchase plan that allows it to repurchase up to 200,000 shares of its common stock at prices below its NAV as reported in its then most recently published financial statements. During fiscal year 2017, this share repurchase plan was extended for another year, through October 2017, and increased to 600,000 of common stock. As of February 28, 2017, we purchased 218,491 shares of common stock, at the average price of $16.87 for approximately $3.7 million pursuant to this repurchase plan. During fiscal year 2017, Saratoga Investment declared and paid dividends of $1.93 per share, composed of $0.41 for the quarter ended February 29, 2016, $0.43 per share for the quarter ended May 31, 2016, $0.44 per share for the quarter ended August 31, 2016, $0.45 per share for the quarter ended November 30, 2016, and a special dividend of $0.20 per share in the second quarter of fiscal year 2017. In addition, on February 28, 2017, Saratoga Investment announced a dividend of $0.46 per share for the fiscal quarter ended February 28, 2017, paid on March 28, 2017 to all stockholders of record at the close of business on March 15, 2017. When:             Wednesday, May 17, 2017, 10:00 a.m. Eastern Time (ET) Call:                Interested parties may participate by dialing (877) 312-9208 (U.S. and Canada) or (678) 224-7872 (outside U.S. and Canada). A replay of the call will be available from 1:00 p.m. ET on Wednesday, May 17, 2017 through 1:00 p.m. ET on Wednesday, May 24, 2017 by dialing (855) 859-2056 (U.S. and Canada) or (404) 537-3406 (outside U.S. and Canada), passcode for both replay numbers: 11205097. Webcast:        Interested parties may access a simultaneous webcast of the call and find the FY2017 presentation by going to the "Events & Presentations" section of Saratoga Investment's investor relations website, http://www.saratogainvestmentcorp.com/investor.html Saratoga Investment Corp. is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses.  The Company invests primarily in senior and unitranche leveraged loans, mezzanine debt, and, to a lesser extent, equity to provide financing for change of ownership transactions, strategic acquisitions, recapitalizations and growth initiatives in partnership with business owners, management teams and financial sponsors.  Saratoga Investment Corp.'s objective is to create attractive risk-adjusted returns by generating current income and long-term capital appreciation from its debt and equity investments.  Saratoga Investment Corp. has elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940 and is externally-managed by Saratoga Investment Advisors, LLC, an SEC-registered investment advisor focusing on credit-driven strategies.  Saratoga Investment Corp. owns an SBIC-licensed subsidiary and manages a $300 million Collateralized Loan Obligation (CLO) fund.  It also owns 100% of the subordinated notes of the CLO.  These diverse funding sources, combined with a permanent capital base, enable Saratoga Investment Corp. to provide a broad range of financing solutions. This press release contains certain forward-looking statements. These forward-looking statements are subject to risks and uncertainties and other factors enumerated in this press release and the filings Saratoga Investment Corp. makes with the SEC.  Saratoga Investment Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Supplemental Information Regarding Adjusted Net Investment Income, Adjusted Net Investment Income Yield and Adjusted Net Investment Income per share On a supplemental basis, we provide information relating to adjusted net investment income, adjusted net investment income yield and adjusted net investment income per share, which are non-GAAP measures. These measures are provided in addition to, but not as a substitute for, net investment income, net investment income yield and net investment income per share. Adjusted net investment income represents net investment income excluding any capital gains incentive fee expense or reversal attributable to unrealized gains. The management agreement with our advisor provides that a capital gains incentive fee is determined and paid annually with respect to cumulative realized capital gains (but not unrealized capital gains) to the extent such realized capital gains exceed realized and unrealized losses for such year. In addition, we accrue, but do not pay, a capital gains incentive fee in connection with any unrealized capital appreciation, as appropriate. As such, we believe that adjusted net investment income, adjusted net investment income yield and adjusted net income per share is a useful indicator of operations exclusive of any capital gains incentive fee expense or reversal attributable to unrealized gains. In addition, adjusted net investment income also excludes the loss on extinguishment of our 2020 notes, and the interest expense related to the 2020 notes during the call notice period while the 2023 notes were already issued and outstanding. Both these expenses are directly attributable to the issuance of the 2023 notes and the subsequent repayment of the 2020 notes, and are deemed to be non-recurring in nature and not representative of the operations of Saratoga Investment. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. The following table provides a reconciliation of net investment income to adjusted net investment income, net investment income yield to adjusted net investment income yield and net investment income per share to adjusted net investment income per share for the year and quarter ended February 28, 2017 and February 29, 2016. (1)   Adjusted net investment income is calculated as adjusted net investment income divided by average net asset value. (2)   Adjusted net investment income per share is calculated as adjusted net investment income divided by weighted average common shares outstanding. (3)   Interest on 2020 notes during call period is presented net of the incentive fee accrual To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/saratoga-investment-corp-announces-fiscal-year-end-and-fourth-quarter-2017-financial-results-300458795.html


LONDON, UK / ACCESSWIRE / May 22, 2017 / Active Wall St. blog coverage looks at the headline from Research Frontiers Inc. (NASDAQ: REFR) as the Company announced on May 19, 2017 that its licensee France's Vision Systems had signed a commercial agreement with PPG Industries, Inc.'s (NYSE: PPG) Aerospace division. The partnership is for the development of new applications using Vision Systems electronic window shading solutions for aircrafts. Register with us now for your free membership and blog access at: One of Research Frontiers' competitors within the Industrial Electrical Equipment space, Belden Inc. (NYSE: BDC), reported on May 03, 2017, its Q1 FY17 results for the period ended April 02, 2017. AWS will be initiating a research report on Belden in the coming days. Today, AWS is promoting its blog coverage on REFR and PPG; touching on BDC. Get all of our free blog coverage and more by clicking on the link below: The commercial agreement outlines a broad framework wherein PPG and Vision Systems can leverage each other's expertise to take advantage of opportunities available in commercial, regional, military and general aviation for the new applications jointly developed by them. The commercial and financial details of the agreement were not shared by either party. Research Frontiers is the developer of SPD-SmartGlass, electronically tintable window technology. Its patented SPD-SmartGlass technology effectively blocks UV and infrared rays regardless of whether the glass is in its clear or tinted state. Vision Systems is licensed to sell SPD-Smart products for aircraft, trains, recreational vehicles, busses, trucks, mobile cranes and construction vehicles. Pittsburgh, Pennsylvania based PPG Aerospace provides a range of innovative products and services for the global aerospace business. The portfolio includes coatings, sealants, transparencies, packaging and application systems, and transparent armor, as well as chemical management and other services. It has presence in 70 countries, and in 2016, the company reported net sales of $14.8 billion. Reaction from the parties to the agreement Sharing his views on the partnership between PPG and Vision Systems, Joseph M. Harary, President and CEO of Research Frontiers said: "The combination of these two companies with their focus, resources, and combined experience and expertise, is a major win for aircraft customers around the world who want the finest and best performing systems to enhance the passenger experience." "As a pioneer in the electrochromic window segment, PPG recognized the added value offered by Vision Systems to the standard dimmable film technology, especially with the interface that makes its system work." Catherine Robin, Group Managing Director of Vision Systems also commented on the partnership: "This agreement is fully in-line with our commitment to continuous innovation and customer satisfaction. Furthermore, this constructive collaboration will allow Vision Systems to strengthen its presence throughout the world." All about Vision Systems and its dimmable window solutions Lyon, France based Vision Systems is a tier-one system supplier for the aeronautic, land transport, and marine industries offering customized designs and product solutions as per industry requirements. It specializes in solar protection including Electronically Dimmable Windows, wireless entertainment systems. and high-end composite solutions. The solar protection solutions include roller and pleated shades, driver blinds, and cockpit sun visors, and Electronically Dimmable Windows. The Company has a production and sales office in Florida USA, and trade offices in Singapore and Dubai. In September 2016, Vision Systems started a new Business Unit dedicated to dimmable solutions - Smart Lite. This new generation of solutions helps in improving visual and thermal comfort. They offer variable shading from clear to dark to control daylight, glare, and heat while preserving the view. Due to the darkest possible shade, the system offers heat rejection and UV blockage resulting in cooler interiors which in turn reduces the consumption of air conditioning. These dimmable windows can be easily operated and controlled. When controlled individually, a seat-side wired or wireless interface is used and when controlled cabin-wide it can be done through the aircraft's cabin window management system. These windows use integrated electronics and hence are low maintenance. Since these dimmable window solutions have no size limitations relative to aircraft transparency application, applications for larger transparencies with flat or curved shapes as well as retrofit installations including with add-on panels can be easily developed. Vision Systems' latest-generation Nuance V2 dimmable window is being produced by its Smart Lite division. It is based on suspended particle device film technology licensed from Research Frontiers and an innovative Vision Systems interlayer that offers unprecedented optical quality with 2.5% haze, 100% clarity, and 99.6% blockage of visible light with the ultra-dark version of the Nuance product. Both PPG and Vision Systems have an established history of supplying electronically dimmable window shading systems. While PPG has been supplying electrochromic window shading systems for commercial aircraft and ground vehicles since 2007, Vision Systems is an established supplier of aircraft shading systems and associated electronics. PPG's Global Business Director for Aerospace Transparencies, Brent Wright feels that the partnership will allow the company to provide innovative solutions that are enhanced with Vision Systems' product for managing window light and heat transmission to its customers. At the close of trading session on Friday, May 19, 2017, Research Frontiers' stock price rose 10.00% to end the day at $1.10. A total volume of 161.83 thousand shares were exchanged during the session, which was above the 3-month average volume of 59.97 thousand shares. The stock currently has a market cap of $24.00 million. At the close of trading on May 19, 2017, PPG's shares closed at $106.73 with a gain of 1.27%. Approximately 1.08 million shares exchanged hands at the end of the trade session. The stock has gained 0.70% in the last 30 days and 4.64% in the last 90 days. Comparatively, the stock gained 11.60% in the last six-month and 2.63% in the last 12-month periods. The stock has a dividend yield of 1.50% and is trading at a PE ratio of 49.76. The market capital of the stock is $27.49 billion. Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. 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If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at: CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. LONDON, UK / ACCESSWIRE / May 22, 2017 / Active Wall St. blog coverage looks at the headline from Research Frontiers Inc. (NASDAQ: REFR) as the Company announced on May 19, 2017 that its licensee France's Vision Systems had signed a commercial agreement with PPG Industries, Inc.'s (NYSE: PPG) Aerospace division. The partnership is for the development of new applications using Vision Systems electronic window shading solutions for aircrafts. Register with us now for your free membership and blog access at: One of Research Frontiers' competitors within the Industrial Electrical Equipment space, Belden Inc. (NYSE: BDC), reported on May 03, 2017, its Q1 FY17 results for the period ended April 02, 2017. AWS will be initiating a research report on Belden in the coming days. Today, AWS is promoting its blog coverage on REFR and PPG; touching on BDC. Get all of our free blog coverage and more by clicking on the link below: The commercial agreement outlines a broad framework wherein PPG and Vision Systems can leverage each other's expertise to take advantage of opportunities available in commercial, regional, military and general aviation for the new applications jointly developed by them. The commercial and financial details of the agreement were not shared by either party. Research Frontiers is the developer of SPD-SmartGlass, electronically tintable window technology. Its patented SPD-SmartGlass technology effectively blocks UV and infrared rays regardless of whether the glass is in its clear or tinted state. Vision Systems is licensed to sell SPD-Smart products for aircraft, trains, recreational vehicles, busses, trucks, mobile cranes and construction vehicles. Pittsburgh, Pennsylvania based PPG Aerospace provides a range of innovative products and services for the global aerospace business. The portfolio includes coatings, sealants, transparencies, packaging and application systems, and transparent armor, as well as chemical management and other services. It has presence in 70 countries, and in 2016, the company reported net sales of $14.8 billion. Reaction from the parties to the agreement Sharing his views on the partnership between PPG and Vision Systems, Joseph M. Harary, President and CEO of Research Frontiers said: "The combination of these two companies with their focus, resources, and combined experience and expertise, is a major win for aircraft customers around the world who want the finest and best performing systems to enhance the passenger experience." "As a pioneer in the electrochromic window segment, PPG recognized the added value offered by Vision Systems to the standard dimmable film technology, especially with the interface that makes its system work." Catherine Robin, Group Managing Director of Vision Systems also commented on the partnership: "This agreement is fully in-line with our commitment to continuous innovation and customer satisfaction. Furthermore, this constructive collaboration will allow Vision Systems to strengthen its presence throughout the world." All about Vision Systems and its dimmable window solutions Lyon, France based Vision Systems is a tier-one system supplier for the aeronautic, land transport, and marine industries offering customized designs and product solutions as per industry requirements. It specializes in solar protection including Electronically Dimmable Windows, wireless entertainment systems. and high-end composite solutions. The solar protection solutions include roller and pleated shades, driver blinds, and cockpit sun visors, and Electronically Dimmable Windows. The Company has a production and sales office in Florida USA, and trade offices in Singapore and Dubai. In September 2016, Vision Systems started a new Business Unit dedicated to dimmable solutions - Smart Lite. This new generation of solutions helps in improving visual and thermal comfort. They offer variable shading from clear to dark to control daylight, glare, and heat while preserving the view. Due to the darkest possible shade, the system offers heat rejection and UV blockage resulting in cooler interiors which in turn reduces the consumption of air conditioning. These dimmable windows can be easily operated and controlled. When controlled individually, a seat-side wired or wireless interface is used and when controlled cabin-wide it can be done through the aircraft's cabin window management system. These windows use integrated electronics and hence are low maintenance. Since these dimmable window solutions have no size limitations relative to aircraft transparency application, applications for larger transparencies with flat or curved shapes as well as retrofit installations including with add-on panels can be easily developed. Vision Systems' latest-generation Nuance V2 dimmable window is being produced by its Smart Lite division. It is based on suspended particle device film technology licensed from Research Frontiers and an innovative Vision Systems interlayer that offers unprecedented optical quality with 2.5% haze, 100% clarity, and 99.6% blockage of visible light with the ultra-dark version of the Nuance product. Both PPG and Vision Systems have an established history of supplying electronically dimmable window shading systems. While PPG has been supplying electrochromic window shading systems for commercial aircraft and ground vehicles since 2007, Vision Systems is an established supplier of aircraft shading systems and associated electronics. PPG's Global Business Director for Aerospace Transparencies, Brent Wright feels that the partnership will allow the company to provide innovative solutions that are enhanced with Vision Systems' product for managing window light and heat transmission to its customers. At the close of trading session on Friday, May 19, 2017, Research Frontiers' stock price rose 10.00% to end the day at $1.10. A total volume of 161.83 thousand shares were exchanged during the session, which was above the 3-month average volume of 59.97 thousand shares. The stock currently has a market cap of $24.00 million. At the close of trading on May 19, 2017, PPG's shares closed at $106.73 with a gain of 1.27%. Approximately 1.08 million shares exchanged hands at the end of the trade session. The stock has gained 0.70% in the last 30 days and 4.64% in the last 90 days. Comparatively, the stock gained 11.60% in the last six-month and 2.63% in the last 12-month periods. The stock has a dividend yield of 1.50% and is trading at a PE ratio of 49.76. The market capital of the stock is $27.49 billion. Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below. AWS has not been compensated; directly or indirectly; for producing or publishing this document. The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way. AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice. This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/. For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at: CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.


News Article | May 18, 2017
Site: www.businesswire.com

NEW YORK--(BUSINESS WIRE)--Goldman Sachs BDC, Inc. (the “Company”) (NYSE:GSBD) announced today that it has priced an offering of 3,250,000 shares of common stock, par value $0.001 per share (the “Shares”) at a public offering price of $22.50. In connection with the offering, the Company has also granted the underwriters for the offering an option to purchase up to an additional 487,500 Shares. The offering is subject to customary closing conditions, and the Shares are expected to be delivered on or about May 24, 2017. The Company intends to use the net proceeds of this offering to pay down debt under its revolving credit facility. In addition, the Company intends to make new investments in accordance with its investment objective and strategies. BofA Merrill Lynch, Morgan Stanley, Wells Fargo Securities, Goldman Sachs & Co. LLC, Citigroup and Credit Suisse are acting as joint book-running managers and Raymond James is acting as lead manager for this offering. Investors are advised to carefully consider the investment objective, risks, charges and expenses of the Company before investing. The preliminary prospectus supplement dated May 18, 2017 and the accompanying prospectus dated January 19, 2017, which have been filed with the Securities and Exchange Commission (the “SEC”), contain this and other information about the Company and should be read carefully before investing. The information in the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. The preliminary prospectus supplement, the accompanying prospectus and this press release are not offers to sell any securities of the Company and are not soliciting an offer to buy such securities in any jurisdiction where such offer and sale is not permitted. A shelf registration statement relating to these securities is on file with and has been declared effective by the SEC. The offering may be made only by means of a preliminary prospectus supplement and an accompanying prospectus, copies of which may be obtained from BofA Merrill Lynch, NC1-004-03-43 200, North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or e-mail dg.prospectus_requests@baml.com; Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or Wells Fargo Securities, LLC, Attn: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152-4077 (telephone number: 1-800-326-5897), or by emailing cmclientsupport@wellsfargo.com. Goldman Sachs BDC, Inc. is a specialty finance company that has elected to be regulated as a business development company under the Investment Company Act of 1940. The Company was formed by The Goldman Sachs Group, Inc. (“Goldman Sachs”) to invest primarily in middle-market companies in the United States, and is externally managed by Goldman Sachs Asset Management, L.P., an SEC-registered investment adviser and a wholly-owned subsidiary of Goldman Sachs. The Company seeks to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien, first lien/last-out unitranche and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments. This press release may contain forward-looking statements that involve substantial risks and uncertainties. These statements include the possible sale of the Shares and expected terms. You can identify these statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “target,” “estimate,” “intend,” “continue,” or “believe” or the negatives thereof or other variations thereon or comparable terminology. You should read statements that contain these words carefully because they discuss our plans, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. These statements represent the Company’s belief regarding future events that, by their nature, are uncertain and outside of the Company’s control. We believe that it is important to communicate our future expectations to our investors. There are likely to be events in the future, however, that we are not able to predict accurately or control. Any forward-looking statement made by us in this press release speaks only as of the date on which we make it. Factors or events that could cause our actual results to differ, possibly materially from our expectations, include, but are not limited to, market conditions and the risks, uncertainties and other factors we identify in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in filings we make with the SEC, and it is not possible for us to predict or identify all of them. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.


LAKE SUCCESS, N.Y., May 15, 2017 (GLOBE NEWSWIRE) -- Newtek Business Services Corp. (“Newtek” or the “Company”), (Nasdaq:NEWT), an internally managed business development company ("BDC"), today announced that Newtek Small Business Finance, LLC, (“NSBF”) the Company’s nationally licensed SBA lender subsidiary, increased its existing revolving credit facility through Capital One, National Association (“Capital One”)  by $50.0 million to $100.0 million.  Concurrent with the line increase, NSBF received a reduction in the interest rate from its present facility of 1.125% when NSBF utilizes the facility to fund the unguaranteed portion of SBA loans and 1.25% when NSBF utilizes the facility to fund the guaranteed portion of SBA loans.  The term of this loan has been extended three years, through May 2020. Barry Sloane, Chairman, President and Chief Executive Officer said, “We are appreciative of our nine-year relationship with Capital One, who has provided us with financing through multiple credit cycles. We have worked with Capital One through seven separate Standard and Poor’s rated securitizations, all of which were rated ‘A’ or better, which have enabled us to replenish our capital availability.  Over time, we have proven that our credit quality and 14-year track record as an issuer, loan assembler and underwriter of small business credit can withstand differing interest rate and credit cycles and have allowed for the continued improvement in lending terms for our revolving credit facility. We have now further established ourselves with in-house pre-closing, post-closing, legal, underwriting and loan assembly teams that are dedicated to ensuring strong loan credit quality and embody the desire to continually improve the lending process and client experience.” Mr. Sloane continued, “We expect to launch our new mobile application for financial and business solution referrals within the next 30 days with the goal to further grow our total loan referral business.   While Newtek employs a FinTech strategy to acquire its clients, that strategy is supported by a dedicated, experienced in-house team who handles the entire credit underwriting process.  Newtek uses technology to enhance client experience and work flow without sacrificing credit quality or collateral provisions, which are necessary to mitigate loan losses.” Mr. Sloane concluded, “I would like to thank Peter Downs, Chief Lending Officer and President of Newtek Small Business Finance who, with the dedicated effort of his senior management team, has built a first-class true retail national lending platform for small- to medium-sized businesses.  I would also like to thank Capital One for this successful partnership that has withstood the test of time.” John Walsh, Managing Director, Capital One said, “Newtek has been successfully executing its small business strategy for many years, and Capital One is pleased to be a partner in that success." Newtek Business Services Corp., Your Business Solutions Company®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business services and financial products under the Newtek® brand to the small- and medium-sized business (“SMB”) market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to SMB accounts across all 50 states to help them grow their sales, control their expenses and reduce their risk. Newtek’s and its portfolio companies’ products and services include: Business Lending, SBA Lending Solutions, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval), eCommerce, Accounts Receivable Financing & Inventory Financing, The Secure Gateway, The Newtek Advantage™, Insurance Solutions, Web Services, and Payroll and Benefits Solutions. Newtek® and Your Business Solutions Company® are registered trademarks of Newtek Business Services Corp. This press release contains certain forward-looking statements. Words such as “believes,” “intends,” “expects,” “projects,” “anticipates,” “forecasts,” “goal” and “future” or similar expressions are intended to identify forward-looking statements. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek’s actual results to differ from management’s current expectations, are contained in Newtek’s filings with the Securities and Exchange Commission and available through http://www.sec.gov/.  Newtek cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements.


LONDON, UK / ACCESSWIRE / May 22, 2017 / Active Wall St. blog coverage looks at the headline from Research Frontiers Inc. (NASDAQ: REFR) as the Company announced on May 19, 2017 that its licensee France's Vision Systems had signed a commercial agreement with PPG Industries, Inc.'s (NYSE: PPG) Aerospace division. The partnership is for the development of new applications using Vision Systems electronic window shading solutions for aircrafts. Register with us now for your free membership and blog access at: One of Research Frontiers' competitors within the Industrial Electrical Equipment space, Belden Inc. (NYSE: BDC), reported on May 03, 2017, its Q1 FY17 results for the period ended April 02, 2017. AWS will be initiating a research report on Belden in the coming days. Today, AWS is promoting its blog coverage on REFR and PPG; touching on BDC. Get all of our free blog coverage and more by clicking on the link below: The commercial agreement outlines a broad framework wherein PPG and Vision Systems can leverage each other's expertise to take advantage of opportunities available in commercial, regional, military and general aviation for the new applications jointly developed by them. The commercial and financial details of the agreement were not shared by either party. Research Frontiers is the developer of SPD-SmartGlass, electronically tintable window technology. Its patented SPD-SmartGlass technology effectively blocks UV and infrared rays regardless of whether the glass is in its clear or tinted state. Vision Systems is licensed to sell SPD-Smart products for aircraft, trains, recreational vehicles, busses, trucks, mobile cranes and construction vehicles. Pittsburgh, Pennsylvania based PPG Aerospace provides a range of innovative products and services for the global aerospace business. The portfolio includes coatings, sealants, transparencies, packaging and application systems, and transparent armor, as well as chemical management and other services. It has presence in 70 countries, and in 2016, the company reported net sales of $14.8 billion. Reaction from the parties to the agreement Sharing his views on the partnership between PPG and Vision Systems, Joseph M. Harary, President and CEO of Research Frontiers said: "The combination of these two companies with their focus, resources, and combined experience and expertise, is a major win for aircraft customers around the world who want the finest and best performing systems to enhance the passenger experience." "As a pioneer in the electrochromic window segment, PPG recognized the added value offered by Vision Systems to the standard dimmable film technology, especially with the interface that makes its system work." Catherine Robin, Group Managing Director of Vision Systems also commented on the partnership: "This agreement is fully in-line with our commitment to continuous innovation and customer satisfaction. Furthermore, this constructive collaboration will allow Vision Systems to strengthen its presence throughout the world." All about Vision Systems and its dimmable window solutions Lyon, France based Vision Systems is a tier-one system supplier for the aeronautic, land transport, and marine industries offering customized designs and product solutions as per industry requirements. It specializes in solar protection including Electronically Dimmable Windows, wireless entertainment systems. and high-end composite solutions. The solar protection solutions include roller and pleated shades, driver blinds, and cockpit sun visors, and Electronically Dimmable Windows. The Company has a production and sales office in Florida USA, and trade offices in Singapore and Dubai. In September 2016, Vision Systems started a new Business Unit dedicated to dimmable solutions - Smart Lite. This new generation of solutions helps in improving visual and thermal comfort. They offer variable shading from clear to dark to control daylight, glare, and heat while preserving the view. Due to the darkest possible shade, the system offers heat rejection and UV blockage resulting in cooler interiors which in turn reduces the consumption of air conditioning. These dimmable windows can be easily operated and controlled. When controlled individually, a seat-side wired or wireless interface is used and when controlled cabin-wide it can be done through the aircraft's cabin window management system. These windows use integrated electronics and hence are low maintenance. Since these dimmable window solutions have no size limitations relative to aircraft transparency application, applications for larger transparencies with flat or curved shapes as well as retrofit installations including with add-on panels can be easily developed. Vision Systems' latest-generation Nuance V2 dimmable window is being produced by its Smart Lite division. It is based on suspended particle device film technology licensed from Research Frontiers and an innovative Vision Systems interlayer that offers unprecedented optical quality with 2.5% haze, 100% clarity, and 99.6% blockage of visible light with the ultra-dark version of the Nuance product. Both PPG and Vision Systems have an established history of supplying electronically dimmable window shading systems. While PPG has been supplying electrochromic window shading systems for commercial aircraft and ground vehicles since 2007, Vision Systems is an established supplier of aircraft shading systems and associated electronics. PPG's Global Business Director for Aerospace Transparencies, Brent Wright feels that the partnership will allow the company to provide innovative solutions that are enhanced with Vision Systems' product for managing window light and heat transmission to its customers. At the close of trading session on Friday, May 19, 2017, Research Frontiers' stock price rose 10.00% to end the day at $1.10. A total volume of 161.83 thousand shares were exchanged during the session, which was above the 3-month average volume of 59.97 thousand shares. The stock currently has a market cap of $24.00 million. At the close of trading on May 19, 2017, PPG's shares closed at $106.73 with a gain of 1.27%. Approximately 1.08 million shares exchanged hands at the end of the trade session. The stock has gained 0.70% in the last 30 days and 4.64% in the last 90 days. Comparatively, the stock gained 11.60% in the last six-month and 2.63% in the last 12-month periods. The stock has a dividend yield of 1.50% and is trading at a PE ratio of 49.76. The market capital of the stock is $27.49 billion. Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below. AWS has not been compensated; directly or indirectly; for producing or publishing this document. The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst, for further information on analyst credentials, please email [email protected]. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way. AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice. This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/. For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at: CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.


NEW YORK--(BUSINESS WIRE)--Ares Capital Corporation (“Ares Capital”) (NASDAQ:ARCC) announced today that its CEO, Kipp deVeer, and its CFO, Penni Roll are scheduled to present at the Deutsche Bank Global Financial Services Conference on Tuesday, May 30, 2017 at 1:45 pm EDT in New York City. A live audio webcast of the presentation will be available in the Investor Resources section of the Company’s website at www.arescapitalcorp.com. For those unable to listen to the live audio webcast, a replay will be available on the Company’s website shortly after the event. Ares Capital is a leading specialty finance company that provides one-stop debt and equity financing solutions to U.S. middle market companies, venture capital backed businesses and power generation projects. Ares Capital originates and invests in senior secured loans, mezzanine debt and, to a lesser extent, equity investments through its national direct origination platform. Ares Capital’s investment objective is to generate both current income and capital appreciation through debt and equity investments primarily in private companies. Ares Capital has elected to be regulated as a business development company (“BDC”) and as of March 31, 2017, was the largest BDC by total assets and market capitalization. Ares Capital is externally managed by a subsidiary of Ares Management, L.P. (NYSE:ARES), a publicly traded, leading global alternative asset manager. For more information about Ares Capital, visit www.arescapitalcorp.com. However, the contents of such website are not and should not be deemed to be incorporated by reference herein. Statements included herein or on the webcast may constitute “forward-looking statements,” which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results and conditions may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. Ares Capital Corporation undertakes no duty to update any forward-looking statements made herein or on the webcast.


News Article | May 24, 2017
Site: www.businesswire.com

ST. LOUIS--(BUSINESS WIRE)--Belden Inc. (NYSE: BDC), a global leader in high quality, end-to-end signal transmission solutions for mission-critical applications, today announced that it will participate in two upcoming investor events. Specifics regarding the events are as follows: Belden Inc. delivers a comprehensive product portfolio designed to meet the mission-critical network infrastructure needs of industrial, enterprise and broadcast markets. With innovative solutions targeted at reliable and secure transmission of rapidly growing amounts of data, audio and video needed for today's applications, Belden is at the center of the global transformation to a connected world. Founded in 1902, the company is headquartered in St. Louis and has manufacturing capabilities in North and South America, Europe and Asia. For more information, visit us at www.belden.com or follow us on Twitter @BeldenInc.


Applications for intensive one-year program open now through July 24 BURNABY, BC--(Marketwired - May 23, 2017) - Today D-Wave Systems Inc., the leader in quantum computing systems and software, announced a new initiative with the Creative Destruction Lab (CDL) at the University of Toronto's Rotman School of Management. D-Wave will work with CDL, as a CDL Partner, to create a new track to foster startups focused on quantum machine learning. The new track will complement CDL's successful existing track in machine learning. Applicants selected for the intensive one-year program will go through an introductory boot camp led by Dr. Peter Wittek, author of Quantum Machine Learning: What Quantum Computing means to Data Mining, with instruction and technical support from D-Wave experts, access to a D-Wave 2000Q™ quantum computer, and the opportunity to use a D-Wave sampling service to enable machine learning computations and applications. D-Wave staff will be a part of the committee selecting up to 40 individuals for the program, which begins in September 2017. "Helping to build an ecosystem of quantum AI and machine learning startups who develop applications speaks directly to D-Wave's vision: bringing quantum computing out of the research lab and into the real world," said Vern Brownell, CEO of D-Wave. "The convergence of quantum computing and machine learning will drive significant value to businesses and the world. We're proud to join with CDL and use their proven approach to facilitate the creation of early-stage companies who share that vision, and to help them use D-Wave's technology to jumpstart their businesses." "We are thrilled to have D-Wave as a CDL partner and for our companies to have access not only to their quantum computing and sampling technologies, but also to their world-class team of quantum machine learning experts," said Rachel Harris, Director of CDL. "Access to D-Wave systems will not only help strengthen learning from the theoretical and applied concepts taught in the boot camp, it will also create an environment of experimentation and exploration of new approaches, and technologies, which lies at the very core of what we do at the Lab." Applications for the training program will be accepted in three rounds with dates set for May 29, June 26, and July 24. International applicants are encouraged to apply as early as possible. The program will be provided free to successful candidates, who will also be offered equity financing upon meeting specific launch criteria. D-Wave will provide a specified level of access to its quantum system and sampling service to each participant chosen by CDL. Each startup that fully leverages the D-Wave platform may procure additional access from D-Wave in exchange for equity or cash. More information is available at www.creativedestructionlab.com/quantum or via email at quantum@creativedestructionlab.com. About D-Wave Systems Inc. D-Wave is the leader in the development and delivery of quantum computing systems and software, and the world's only commercial supplier of quantum computers. Our mission is to unlock the power of quantum computing for the world. We believe that quantum computing will enable solutions to the most challenging national defense, scientific, technical, and commercial problems. D-Wave's systems are being used by some of the world's most advanced organizations, including Lockheed Martin, Google, NASA Ames, USRA, USC, and Los Alamos National Laboratory. With headquarters near Vancouver, Canada, D-Wave's U.S. operations are based in Palo Alto, CA and Hanover, MD. D-Wave has a blue-chip investor base including Goldman Sachs, Bezos Expeditions, DFJ, In-Q-Tel, BDC Capital, Growthworks, 180 Degree Capital Corp., International Investment and Underwriting, and Kensington Partners Limited. For more information, visit: www.dwavesys.com. About the Creative Destruction Lab The Creative Destruction Lab is a seed-stage program for massively scalable, science based ventures. It was launched in 2012 and employs a unique, objectives-focused coaching process to help founders commercialize advances in science and technology. Graduates include Thalmic Labs (Waterloo), Atomwise (San Francisco), Deep Genomics (Toronto), Nymi (Toronto), Automat (Montreal), Kyndi (Palo Alto), and Heuritech (Paris). For more information, visit: www.creativedestructionlab.com.


« WorldAutoSteel release v6 of Advanced High-Strength Steels Application Guidelines | Main | Researchers find that high pressure is key to high-entropy alloys » INFINITI LAB Toronto, an Internet of Things (IoT) and smart cities accelerator program from premium car brand INFINITI, announced the nine startups that will participate in the inaugural four-week accelerator program in Toronto. The nine participating startups have raised $2.7 million in funding between them, and during the program they will receive education, mentorship and access to technology from corporate and technology partners including new partners IBM Canada and TribalScale, and existing partners including Techstars, OMERS Ventures, and the City of Toronto. The month-long Toronto program kicks off on 29 May, and the top startup will be fast-tracked into the three-month global program at the brand’s HQ, the INFINITI LAB Hong Kong driven by Nest, which launches in August. Pitstop Predictive Maintenance. Pitstop is your proactive virtual technician. With a powerful combination of a mobile app, a telematics device and artificial intelligence, Pitstop has the ability to monitor and report vehicle data. Pitstop has gone through Techstars Mobility program in Detroit and is backed by BDC. InnerSpace. InnerSpace provides a turnkey indoor mapping and location platform to commercial real estate companies who use it to boost productivity or create new revenue by offering indoor location services to their tenants. Pull Technologies. Pull is a mobile application that allows humans to connect to the internet of things. It creates a frictionless way to connect with new business associates or friends, as well as brick and mortar retailers. Tap Report. Tap Report is a digital solution for any workplace inspection including washrooms, fire equipment, preventative maintenance (PM) and more. Ubiqweus Inc. Ubiqweus Inc., is currently designing and developing an electronic IoT device called qBiq. qBiq is a social sensing and monitoring device that builds data-sharing communities around people, places, and things. RoadLaunch. RoadLaunch was built to make shipping easier. We delivered an IoT platform that makes transportation management fast and automated. NXCAR. NXCAR is the first connected car solution for the extended warranty industry. It transforms new and used vehicles into smart cars with new safety, security and convenience features. DRVEN. DRVEN allows drivers to upgrade their car, without upgrading their car. It also unlocks the value in the data that you and your car generate. The month-long program features guest speakers from partners IBM Canada, TribalScale, T4G, Techstars, OMERS Ventures, TELUS Ventures, the City of Toronto, and Fleet Complete. The program will also feature IoT and smart cities experts from around North America, as well as guest speakers on topics including marketing, finance, sales, and data science. The program will culminate in Demo Day on 28 June, where each startup will pitch to a panel of venture capitalists. The Toronto program is produced in partnership with Multiplicity, a Toronto-based non-profit that provides education and mentorship to startups. The INFINITI LAB program was originally launched in Hong Kong in order to harness the power of innovation and entrepreneurship, and to date has produced two cohorts of startups. The Toronto-based expansion is the first international launch, and the program is open to pre-seed startups working on IoT and smart city innovation.


News Article | May 25, 2017
Site: www.businesswire.com

ST. LOUIS--(BUSINESS WIRE)--The Board of Directors of Belden Inc. (NYSE: BDC) today approved a new share repurchase authorization and declared quarterly dividends to holders of its common stock and 6.75% series B mandatory convertible preferred stock. Specifics regarding the share repurchase authorization and dividends are as follows: Belden Inc. delivers a comprehensive product portfolio designed to meet the mission-critical network infrastructure needs of industrial, enterprise and broadcast markets. With innovative solutions targeted at reliable and secure transmission of rapidly growing amounts of data, audio and video needed for today's applications, Belden is at the center of the global transformation to a connected world. Founded in 1902, the company is headquartered in St. Louis and has manufacturing capabilities in North and South America, Europe and Asia. For more information, visit us at www.belden.com or follow us on Twitter @BeldenInc.

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