Originals CIPO http://originalscipo.info/ Fri, 30 Sep 2022 01:35:53 +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 AVCT announces its intention to carry out a reverse stock split https://originalscipo.info/avct-announces-its-intention-to-carry-out-a-reverse-stock-split/ Thu, 29 Sep 2022 22:54:50 +0000 https://originalscipo.info/avct-announces-its-intention-to-carry-out-a-reverse-stock-split/

ATLANTA, Sept. 29, 2022 (GLOBE NEWSWIRE) — American Virtual Cloud Technologies, Inc.. (Nasdaq: AVCT) (the “Company”) today announces that it intends to effect a reverse stock split of 1 for 15 of its issued and outstanding common shares (the “Share Split”) ). The Reverse Stock Split will become effective on September 30, 2022 (the “Effective Period”) upon filing with the Delaware Secretary of State of an amendment to the Company’s amended and restated certificate of incorporation (the “Charter”) and ordinary shares of the Company. the shares are expected to begin trading on a split-adjusted basis at the market open on October 3, 2022. The company’s common stock will continue to trade on the Nasdaq Capital Markets under the symbol “AVCT”. The new CUSIP number for the common shares after the Reverse Stock Split will be 030382204.

As previously reported, at the Company’s annual meeting of shareholders held on May 24, 2022, the Company’s shareholders voted to approve three alternative amendments to the Company’s charter to effect a business amalgamation. ordinary shares of the Company at a ratio of 1:-5, 1:10 or 1:15, with such ratio and the implementation and timing of this Reverse Stock Split to be determined by the board of directors of the society. The Board of Directors subsequently approved the implementation of a 1 for 15 reverse stock split.

Following the Share Consolidation, each Common Share issued and outstanding immediately prior to the Effective Time will automatically be reclassified and converted into one-fifteenth (1/15) Common Share. The Reverse Stock Split will affect all shareholders evenly and will not change a shareholder’s percentage interest in the equity of the Company, except to the extent that the Reverse Stock Split would result in a shareholder owning a fractional share. No fractional shares will be issued in connection with the Reverse Stock Split. Shareholders who would otherwise be entitled to receive a fractional share will instead be entitled to receive cash in lieu of such fractional share from the Company’s transfer agent, Continental Stock Transfer and Trust Company.

The reverse stock split did not change the par value of the common shares or the authorized number of common shares. All outstanding warrants and preferred shares entitling their holders to purchase or obtain or convert into shares of our common stock will be adjusted, as required by the terms of such securities.

About American Virtual Cloud Technologies, Inc.

American Virtual Cloud Technologies (“AVCtechnologies”; Nasdaq: AVCT) now operates under the Kandy brand. Kandy establishes and operates cloud-based communications marketplaces for telecom operators, offering proprietary API enabling services such as Microsoft Teams Direct Routing as a Service and SIP Trunking as a Service. For more information, visit https://www.avctechnologies.com.

Caution Regarding Forward-Looking Statements

This press release contains certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally accompanied by words such as “believe”, “may”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “should”, “would”, “plan”, “predict”, “potential”, “look”, “seek”, “future”, “outlook” and similar expressions which predict or indicate future events or trends or which are not statements of historical matters. include, but are not limited to, statements regarding the stock consolidation and other future events and expectations described in this press release.The actual results or results of the Company and the timing of certain events. statements may differ materially from those discussed in the forward-looking statements. These statements are based on various assumptions and the current expectations of the Company’s management and are not predictions of actual performance. These forward-looking statements are provided for informational purposes only and are not intended to serve as, and should not be relied upon by, any investor as a guarantee, assurance, prediction or definitive statement of fact or probability.

Actual events and circumstances are difficult or impossible to predict and will differ from the assumptions. Many actual events and circumstances are beyond the Company’s control. These forward-looking statements are subject to a number of risks and uncertainties, including the Company’s need for additional financing to continue operations; the possibility of Nasdaq delisting the Company’s securities; changes in the Company’s customer preferences, outlook and competitive conditions prevailing in the industries in which the Company operates; the Company’s substantial indebtedness; risks associated with the potential effects of COVID-19 on the Company’s business; the risks that the recently acquired business of Kandy Communications will not be successfully integrated; ability to retain key personnel; and the factors discussed in the Company’s Annual Report on Form 10-K filed with the SEC on April 15, 2022 and Quarterly Report on Form 10-Q filed with the SEC on August 16, 2022, in each case under the heading “Risk Factors”, and other Company documents filed or to be filed with the SEC. If the risks materialize or the assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company is not currently aware of or that it currently considers to be immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts regarding future events and views as of the date of this document. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may elect to update these forward-looking statements at some time in the future, the Company expressly disclaims any obligation to do so. These forward-looking statements should not be taken to represent the Company’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed on forward-looking statements.

American Virtual Cloud Technologies, Inc.
info@avctechnologies.com
+1 (404) 239-2863

]]> ‘First of its kind’ condo development in Fort Erie with Buffalo skyline views https://originalscipo.info/first-of-its-kind-condo-development-in-fort-erie-with-buffalo-skyline-views/ Thu, 29 Sep 2022 17:20:29 +0000 https://originalscipo.info/first-of-its-kind-condo-development-in-fort-erie-with-buffalo-skyline-views/

A 12-story, 230-unit condominium is planned for the former Keystone Kelly Restaurant in Fort Erie that will feature “fantastic” views of the Peace Bridge, Niagara River, Lake Erie and the skyline of Buffalo.

Marketed as Discoverie, the one-of-a-kind project for the city, currently valued at around $250 million, is proposed for 7 Central Ave., Garrison Road. Across the street is the Nexus Enrollment Center and Mather Arch Park.

The person behind the project is local developer Jeffrey Andrews, while Signature Communities will be the company building it.

Ray Rosettani, a longtime Niagara real estate agent with Re/Max and local representative marketing the development, recently posted a YouTube video describing the project, noting that it had been “in the works” for a few years.

“I was fortunate to be involved from day one, helping Cengar Developments secure, first, 7 Central, then negotiate and expand it into the duty-free (overflow) parking lot, which was owned by the Peace Bridge Authority,” Rosettani said.

“We have a real nice size site, which offers fantastic views. Obviously, the location of our development is phenomenal. It’s very, very close to the QEW…really close to Buffalo airport, Niagara Falls (NY) airport, all kinds of entertainment very, very close.”

He said the building will have a “stately” foyer/reception area for residents and their guests, as well as parking access.

A rooftop terrace will be above the eighth floor offering panoramic views of Buffalo, Rosettani said.

“We have rooms you can book on the roof for private functions, just go there to barbecue and hang out with friends and family,” he said. “We also have Discoverie Lanes, which is a bowling alley, and a wine bar, which will be for residents and your guests only.”

In an interview, Rosettani said there was “nothing” like this development in town.

“It will be the first of its kind, and I think it will pave the way for others to come,” he said. “I think a lot of people have always been afraid of, you hear it all over town, like, ‘This will never happen in Fort Erie.’ It’s time. There are outside investors who really believe in Fort Erie, especially in this place.

Rosettani said the original plan was for the developer to build a smaller, 80-unit building on the land that housed the former Keystone Kelly restaurant, which sat vacant for about 15 years.

“We had so much interest that Jeff said, ‘Why don’t we see if we can negotiate the parking lot behind.’

Rosettani said negotiations with the Peace Bridge Authority were successful and the size and scope of the project could be expanded.

He said only about 10 spaces were used as overflow parking for employees with the nearby Duty-Free shop, which has its own lot.

Rosettani said the development will also include commercial uses on the first floor, a meeting area on the second floor, a fitness center on the third floor and four floors of covered ground parking.

He said inaccurate information had been posted online about the development, including that the building would be directly on the water or that the motel behind the development would be demolished, which is not the case.

Rosettani said an exhibit hall to promote on-site development allows visitors to meet him or his team and interact with a touchscreen showing 3D renderings of different areas of the future building, units and buildings. floor plans.

He said building and infrastructure permits will have to be obtained from the municipality, but “what they are offering and what they are doing has all been approved by the city.”

The plan is to begin construction next June, with completion by the end of 2025, early 2026.

Rosettani said he received “a lot of positive feedback” on the development, adding that the cost to purchase a unit will range from around $560,000 to $1 million.

For more information, visit sellingforterie.com.

]]> SPAC Bamboozle Keeps Giving: Shredded Inventory, Low Money, Ongoing Layoffs, Volta Tackles Government Subsidies for Electric Vehicle Charging Stations https://originalscipo.info/spac-bamboozle-keeps-giving-shredded-inventory-low-money-ongoing-layoffs-volta-tackles-government-subsidies-for-electric-vehicle-charging-stations/ Thu, 29 Sep 2022 10:30:00 +0000 https://originalscipo.info/spac-bamboozle-keeps-giving-shredded-inventory-low-money-ongoing-layoffs-volta-tackles-government-subsidies-for-electric-vehicle-charging-stations/

The “growth at all costs” model has been thrown out.

By Wolf Richter for WOLF STREET.

Volta Inc., which went public via a merger with a SPAC in August last year, sells electric vehicle charging stations with large media screens resembling billboards that allow or compel people to watch advertisements while waiting for their vehicle to be recharged. Media screens also face passers-by, and therefore there are more eyeballs.

The company derives revenue from its electric vehicle charging network and the sale of advertisements on these billboards. But not by much: it is infamous for losing $276 million last year out of $32 million in revenue, based on Silicon Valley’s unassailable “growth at all costs” strategy. In 2021, its revenue increased by $13 million; and its losses increased by $206 million. You had the idea. This kind of growth model.

Based in expensive San Francisco, it burned about $100 million in cash in the second quarter, at the end of which it had $105 million in cash left on its balance sheet. That’s not much of a track at this rate of cash burn. Earlier this month, he filed a prospectus with the SEC for an “in-the-market” stock offering to raise up to $150 million by selling shares “from time to time.” What will be kind of a chore as the shares have crashed 89% from a high of $14.34 after the SPAC merger – which gave the company an absurd market cap of over $2 billion – it almost exactly one year ago, September 19, 2021 at $1.55 today (data via Y-Charts):

In March, the company announced that CEO Scott Mercer had stepped down but would stay on for a transition period, and that Chairman Christopher Wendel had stepped down “effective immediately.” They both resigned as board members, “effective immediately”. This kind of business.

But now there are all kinds of novelties.

#1, The “Growth at All Costs” Model Has Been Thrown Awayand it’s time to cut costs and lay off staff, cut “outside consultants”, consolidate “its three San Francisco offices into one”, and cut “marketing and administrative costs”.

As part of these cost reductions, the company announced today after-hours that it would lay off 10% of its full-time staff going forward, having already laid off 18% of its full-time staff since June 1 “through further downsizing and of organic attrition”.

Volta is “taking difficult but important steps to align the business with current market dynamics and position the business for long-term success,” he said.

#2, the company cut its Q3 revenue forecast by about 20% between $13.5 and $14.5 million. And he withdrew his full-year forecast, blaming: “the advertising environment, particularly as automotive brands delay ad spending due to inventory shortages; limited availability of power transformers affecting DC fast charger installations; and the impact of the fourth quarter shopping season on construction availability in commercial properties. He didn’t blame the strong dollar — unlike most of his big brothers — which would have been a hoot.

The thing is, the “grow at all costs” model works great if you have enough money to pay all the costs forever. But if you run out of money, not only is the growth over, but the whole show is over and everyone goes home. And now the cash is running out, and it’s time to pivot, like to a new model… And you know what’s coming.

#3, Congress threw away hundreds of billions of dollars in all directions, including some of them at companies that build electric vehicle charging networks, and so Volta announced today that it is scrambling to get its piece of the federal pie.

In the section of its announcement, titled “Competition for Federal Funds,” the company said its “dedicated team is well positioned as a public-private partner for state and federal funding.” He said he “intends to continue to prioritize EV charger installations eligible for government-provided funds.

It wants to “leverage” its infrastructure planning software PredictEV, he said: “By analyzing multiple sources of data, including local economic and equity data, PredictEV can identify locations in the pipeline of more than 8,200 EV charging stations signed or covered by the main service. (MSA) that meet government requirements.

Sure, but everyone and their dog has been installing charging stations for years, from Tesla down, and they’ll be competing for federal subsidies. In California alone, there are already more than 79,000 charging stations, compared to 7,572 gas stations, according to the EIA. Everyone goes after. The little Walgreens parking lot in my neighborhood has had them for many years.

It’s not like Volta invented anything new. The novelty of Volta is that its charging stations have multimedia screens that display advertisements. And the government doesn’t care.

When all else fails, try to feed yourself at the deep end of the government.

American companies have been doing this for a long time. This includes the wealthiest semiconductor makers such as Intel and Nvidia, and even foreign companies with a presence in the United States, which currently receive $52 billion in federal subsidies paid into their trough. So compared to them, any crumbs Volta can get, if any – wedged between the big charging station companies – will be small, but they better put some cash in the door soon, otherwise the show is finished and everybody come home.

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Sexual Wellness Market Shares SWOT Analysis, Key Development Strategies and Forecast to 2028 – The Colby Echo News https://originalscipo.info/sexual-wellness-market-shares-swot-analysis-key-development-strategies-and-forecast-to-2028-the-colby-echo-news/ Thu, 29 Sep 2022 05:21:35 +0000 https://originalscipo.info/sexual-wellness-market-shares-swot-analysis-key-development-strategies-and-forecast-to-2028-the-colby-echo-news/

The sexual wellness market The report provides qualitative and quantitative information and detailed analysis of the market size and growth rate of all possible market segments. Global Sexual Wellness Industry provides market overview, product details, classification and market concentration. This analysis report covers key aspects of the Sexual Wellness market along with drivers, restraints, historical and current trends, regulatory situations and technological advancements, the information provides inclusive study on key segments with market growth history, new products present, and the latest news on the overall state of the market.

Sexual Wellness continues to grow and expand at a CAGR of 4.2% over the period 2022-2028.

Get a free sample of this report:

https://www.marketintelligencedata.com/reports/5745878/sexual-wellness-market-2022-by-manufacturers-regions-type-and-application-forecast-to-2027/inquiry?mode=KETANA

Main companies

Ansell, BioFilm, Church & Dwight, Doc Johnson, Reckitt Benckiser, Adam & Eve, Ann Summers, Bayer, Beate Uhse, Bijoux Indiscrets, Caya, Dico, Eau Zone Oils & Fragrances, Fuji Latex, Good Clean Love, Intimate Organics, Jimmyjane , LELO, Liberator, Lipocine, LoveHoney, OhMiBod, pjur, Pure Romance, Sagami Rubber Industries, Tenga, The Female Health Company,

This report covers the major players in the Sexual Wellness industry, their market shares, product portfolio and company profiles. To analyze major market players based on production volume, gross margin, market value, and pricing structure. The competitive market scenario among the Sexual Wellness players will help the industry aspirants to plan their strategies. The statistics presented in this report will serve as an accurate and helpful guide in shaping business growth.

This report segments the Global sexual well-being The market based types are:

  • Condoms
  • Vibrators
  • Lubricants
  • Others

Based on the application, the Global sexual well-being The market is segmented into:

The research objectives of this report are:

  • To study and analyze the size (value & volume) of the global Sexual Wellness by companies, key regions/countries, products and application, history data from 2022 to 2028, and forecast data to 2028.
  • Understand the structure of sexual wellness by identifying various sub-segments.
  • Share detailed information on key factors influencing market growth (growth potential, opportunities, drivers, industry-specific challenges and risks).
  • Focuses on the key global Sexual Health manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in years to come.
  • To analyze individual growth trends, future prospects, and Sexual Wellness contribution to the overall market.
  • Analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
  • Strategically analyze key players and thoroughly analyze their growth strategies.

The full report with detailed table of contents here:

https://www.marketintelligencedata.com/reports/5745878/sexual-wellness-market-2022-by-manufacturers-regions-type-and-application-forecast-to-2027?mode=KETANA

Regions covered by the sexual well-being Market Report 2022-2028

For a comprehensive understanding of market dynamics, the global sexual wellness market is analyzed across key geographies, namely: North America (United States, Canada, and Mexico), Europe (Germany, France, UK United, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina and Colombia), Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, Nigeria and South Africa). Each of these regions is analyzed based on the market research findings of key countries in these regions to understand the market at a macro level.

Main highlights of sexual well-being The markets are:

  • The geographical report analysis highlights the consumption of products/services in the region and also indicates the factors influencing the market in each region
  • The report outlines the opportunities and threats facing the global sexual wellness industry
  • The report identifies the fastest growing projected regions and segments and
    The competitive landscape includes the market ranking of major players, as well as new product launches, partnerships, business expansions, and acquisitions.
  • The report provides detailed company profiles, including company profiles, company information, product references and SWOT analysis of key market players.

BUY NOW

https://www.marketintelligencedata.com/report/purchase/5745878?mode=su?mode=KETANA

About Us:

Market Intelligence Data is a global leader in the research industry, providing its clients with contextual and data-driven research services. The organization helps clients create business plans and achieve long-term success in their respective markets. The industry provides consulting services, market intelligence data research studies, and custom research reports.

Contact us:

Irfan Tamboli (Head of Sales) – MARKET INTELLIGENCE DATA

Phone: +1 (704) 266-3234 Mail to: sales@marketintelligencedata.com

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Twin Vee PowerCats Co. Announces Public Offering Pricing https://originalscipo.info/twin-vee-powercats-co-announces-public-offering-pricing/ Thu, 29 Sep 2022 01:44:46 +0000 https://originalscipo.info/twin-vee-powercats-co-announces-public-offering-pricing/

FORT PIERCE, FL /ACCESSWIRE/September 28, 2022/ Twin Vee PowerCats Co. (NASDAQ:VEEE) (“Twin Vee” or the “Company”), a manufacturer, marketer and marketer of powersports catamarans, today announced the pricing of its subscribed public offering of 2,500,000 common stock shares at a public offering price of $2.75 per share, for gross proceeds of $6,875,000, before deduction of underwriting discounts, commissions and offering costs. All Common Shares are offered by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 375,000 common shares at the public offering price less discounts and commissions, to cover over-allotments. The offering is expected to close on October 3, 2022, subject to satisfaction of customary closing conditions.

The Company intends to use the net proceeds from the offering primarily for product development and general corporate purposes, which may include working capital, capital expenditures, operational objectives and acquisitions. potential in complementary businesses.

ThinkEquity is acting as sole bookrunner for the offering.

The securities will be offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-266858), including a base prospectus, filed with the United States Securities and Exchange Commission (the ” SEC”) on August 15, 2022 and declared effective on August 24, 2022. The offering will be made only by means of a written prospectus. A prospectus supplement and the accompanying prospectus describing the terms of the offering will be filed with the SEC on its website at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus relating to the offering may also be obtained, when available, from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004, by phone at (877) 436-3673 or by email at [email protected].

This press release does not constitute an offer to sell or a solicitation of an offer to buy, 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 Twin Vee PowerCats Co.
Twin Vee is a designer, manufacturer, marketer and distributor of powersports catamarans. The company is located in Fort Pierce, Florida and has been building and selling boats for over 27 years. Learn more at twinvee.com. Twin Vee is one of the most recognizable brands in the catamaran sport boat category, and is known as the “Best Riding Boats on the Water™”.

Forward-looking statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are identified by the use of the words “may”, “believe”, “anticipate”, “” intend”, “estimate”, “expect”, “may”, “continue”, “predict”, “potential”, “project” and similar expressions intended to identify forward-looking statements and include statements regarding the closing of the public offering and the intended use of the net proceeds of the offering These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to assess. anticipate that actual results could differ materially from current expectations and assumptions and those set forth or implied by the forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to close the offering, the duration and extent of the global COVID-19 outbreak. , including the impact on supply chains and states and locals. economic, and risk factors described in the company’s annual report on Form 10-K for the fiscal year ended December 31, 2021, the company’s quarterly reports on Form 10-Q, the company’s current reports on Form 8-K and subsequent filings with SECOND. The information in this release speaks only as of the date of this release, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unforeseen events, except as required by law.

For Investor Relations Inquiries:
Contact:
Glenn Sonoda
[email protected]

THE SOURCE: Twin Vee PowerCats Co.

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UiPath disappoints Wall Street with forecast as stocks near 80% drop from IPO price https://originalscipo.info/uipath-disappoints-wall-street-with-forecast-as-stocks-near-80-drop-from-ipo-price/ Wed, 28 Sep 2022 22:28:00 +0000 https://originalscipo.info/uipath-disappoints-wall-street-with-forecast-as-stocks-near-80-drop-from-ipo-price/

UiPath Inc. disappointed Wall Street with its way forward during an Investor Day presentation, sending shares down more than 5% in Wednesday trading. The company has seen its shares fall nearly 80% since its IPO in April.

Analysts responding to yesterday’s event on Wednesday expressed concern about UiPath’s PATH,
-3.72%
the sales revamp, which executives hope will allow the ‘software bot’ vendor’s sales force to reach out to its most important customers, but which will weigh on the company’s performance in the short term term.

The result was a weaker-than-expected forecast for fiscal year 2024, which begins in February 2023. Analysts particularly focused on management’s projected annualized renewal rate of around $1.36 billion for this year. . Annualized Renewal Rate, or ARR, is a metric often used by Software as a Service, also known as SaaS, companies to show how much revenue a company can expect based on subscriptions.

Mizuho analyst Siti Panigrahi, who downgraded the stock to neutral in early September with a price target of $14, predicted that the ARR forecast would be affected by the sell shake.

“While we are positive about UiPath’s transition to a platform business (which expands the [total addressable market] from $61 billion to $93 billion) and the company’s fine-tuned go-to-market movement (which is expected to result in increased traction within enterprise customers), the financial guidance for FY24 is weaker than expected and reflect the challenges due to the restructuring and change of [go-to-market strategy] in an uncertain macroeconomic environment, while balancing growth and profitability,” said Panigrahi.

UiPath shares fell 7.3% to an intraday low of $12.46, 78% below their April 2021 IPO price of $56 per share, and ended down 3.7% to $12.94. In 2022, stocks fell 70%, while the S&P 500 SPX index,
+1.97%
fell 22% and the technology-heavy Nasdaq Composite Index COMP
+2.05%
fell 29%.

In a preview of fiscal 2024 at Tuesday’s event, Ashim Gupta, chief financial officer of UiPath, told analysts that even if revenue growth of up to 25% year-over-year was possible, expected Software as a Service headwinds of approximately 500 basis points and FX headwinds of approximately 200 basis points result in an anchor forecast of 18% growth, or approximately 1, $19 billion in revenue.

Lily: 5 Things to Know About UiPath, the Nearly $30 Billion “Software Robots” Company

“That explains the turbulent macroenvironment we find ourselves in,” Gupta told analysts. “That also explains repositioning, which still takes time to execute.”

By mid-Wednesday, the Wall Street revenue consensus had fallen to $1.22 billion from Monday’s $1.24 billion, and analysts’ ARR forecasts had fallen to an average of $1.41 billion. , up from $1.43 billion, according to FactSet data. .

JPMorgan analyst Mark Murphy, who has a neutral rating and a price target of $18, said investors were focused on the below-consensus ARR forecast on top of the “choppy macro environment.”

“While management has been emphasizing the ‘re-acceleration’ of growth, we believe this will take time and there is wood to cut given the expected deceleration of its medium-term ARR trajectory” , Murphy said, adding, “[We] see a significant improvement in the company’s glide path taking multiple quarters to materialize, especially as the competitive landscape continues to evolve.

Hash – or maybe “hash” – has become standard this year for UiPath. Earlier in September, the company cut its full-year revenue outlook by $1 billion to $1.01 billion and its ARR by $1.15 billion to $1.16 billion, from its previous revenue guidance of around $1 billion. $.09 billion and its ARR of $1.22-1.23 billion for the year.

Lily about mars cutlet: UiPath stock wipes over $4 billion in market capitalization after guidance hit by Ukraine conflict and shift in sales leadership

Read about the June chop: UiPath stock rallies as earnings and outlook beat Wall Street consensus

Read about the early September chop: UiPath shares drop 16% after outlook downgrade

Evercore ISI analyst Kirk Materne, who has an online rating and a price target of $19, stressed that he was bullish on UiPath as a “long-term opportunity” and that executives had made “a compelling presentation” on Tuesday, but he stressed that the ongoing organizational changes “remain overhead”.

“The company is also repackaging its offerings to drive greater adoption on the platform and realigning its sales movement to better tie automation to business outcomes,” Materne said. “All these commitments are wise in a long-term vision; However, there are clear near-term risks to execution and this is reflected in the initial revenue guidance for FY24.”

He continued, “We think some of the near-term headwinds on growth were already here heading into this event, but investors are going to need patience as these changes take hold.”

Of the 22 analysts who cover UiPath, 11 have buy ratings, 10 have holds, and one has a sell rating. Eight lowered their price targets, resulting in an average target price of $18.23, down from $27.98 at the end of August, according to FactSet data.

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Gamida Cell values ​​its follow-on public offering at $20 million; Rallybio touts phase Ib data for monoclonal antibody – Endpoints News https://originalscipo.info/gamida-cell-values-its-follow-on-public-offering-at-20-million-rallybio-touts-phase-ib-data-for-monoclonal-antibody-endpoints-news/ Wed, 28 Sep 2022 14:37:00 +0000 https://originalscipo.info/gamida-cell-values-its-follow-on-public-offering-at-20-million-rallybio-touts-phase-ib-data-for-monoclonal-antibody-endpoints-news/

While Gamida Cell is still working its way toward approval for its therapies with new CEO Abigail Jenkins in place, it’s looking to raise some more money.

The company announcement Wednesday that it will offer more than 12 million shares and expects proceeds estimated at $20 million. The offering is expected to close on September 30. According to Gamida Cell, it plans to use the money to help with the potential launch of its omidubicel therapy if it gets approval. Omidubicel has a PDUFA date set for January 30, 2023.

If the therapy is approved, the company also plans to use the money to further develop its other candidates and for other corporate purposes.

RallyBio previews its phase Ib results for the monoclonal antibody

The biotech specializing in rare diseases RallyBio is preparing to unveil its first Phase Ib results for one of its candidates.

The company announced on Wednesday that it has presented preliminary results from its Phase IB proof-of-concept study for its monoclonal antibody, dubbed RLYB212. The candidate aims to prevent fetal and neonatal alloimmune thrombocytopenia (FNAIT).

Martin MacKay

The data reportedly showed that one week after a single dose, levels of transfused HPA-1a positive platelets declined rapidly when contrasted with a placebo, in a model of “catastrophic maternal hemorrhage”. The first data also show the possibility of dosing less frequently.

“These preliminary results continue to support our projected effective target therapeutic concentrations for the prevention of maternal HPA-1a alloimmunization by RLYB212. We are pleased to see the rapid and complete clearance of transfused platelets in all subjects to date, with a greater than 90% reduction in mean platelet clearance half-life compared to placebo, consistent with our criteria. of proof of concept,” RallyBio CEO Martin Mackay said in a statement.

Mackay also said full data will be presented in the first quarter of 2023.

MaxCyte signs a strategic platform license with Vertex to develop its CRISPR program

Maryland-based biotech MaxCyte is working with a major company to advance its CRISPR program.

MaxCyte has sign a license agreement with Vertex Pharmaceuticals. The agreement will allow Vertex to obtain the right to use MaxCyte’s CRISPR/Cas-9-based gene editing platform both commercially and clinically, although these rights are not exclusive. As part of the agreement, MaxCyte will receive license fees and other program-related revenue. However, financial details of the deal were not disclosed.

The platform itself, according to MaxCyte, is a genetically engineered cell therapy intended to treat patients with sickle cell disease.

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The Weather Network – Power still out for most Islanders on Wednesday, with Red Cross offering to help https://originalscipo.info/the-weather-network-power-still-out-for-most-islanders-on-wednesday-with-red-cross-offering-to-help/ Wed, 28 Sep 2022 11:52:00 +0000 https://originalscipo.info/the-weather-network-power-still-out-for-most-islanders-on-wednesday-with-red-cross-offering-to-help/

Maritime Electric is set to restore power to a third of its customers following post-tropical storm Fiona’s strike on Prince Edward Island over the weekend, but no more close to providing an estimate of when the work would be done.

Fiona hit Prince Edward Island early Saturday morning causing widespread destruction and power outages. Around 57,000 Maritime Electric customers were still in the dark as of Wednesday morning, with power only restored to around 26,000 customers on the fifth day of the outage.

As crews set to return to work Wednesday morning, spokeswoman Kim Griffin said things were particularly bad in the eastern part of the province.

“We don’t have all the essential services. That’s definitely something our crews are focused on,” Griffin said.

SEE: PEI’s iconic Teacup Rock. disappeared after post-tropical storm Fiona

“They worked until about midnight last night, many of them before they finished, and expect to be on the road maybe 6:30 a.m. 7 this morning.”

Tuesday’s inspections found more broken posts than expected, and the number is now at 475.

Yesterday’s rain slowed down the work but the weather forecast is more favorable today. Streets will be closed in parts of Charlottetown on Wednesday to allow crews space to work.

Maritime Electric still can’t give an estimate on when power will be fully restored, but Griffin hopes to provide a real update this Thursday or Friday.

WATCH: How does Canada’s Fiona storm surge compare to Hurricane Ian?

Red Cross Help

The Canadian Red Cross is urging Islanders who need assistance following the storm to register.

Bill Lawlor, Provincial Director for PEI. and New Brunswick, said that even in a tightly knit province like PEI, there are people with health and housing issues who are isolated.

“We tend to think that’s not the case. You know, everybody knows everybody, it’s a nice, friendly atmosphere, a friendly province,” Lawlor said.

Finding the people who need help can be a challenge. The Red Cross is working with provincial authorities and conducting wellness checks on those of whom the province is aware. Even when those people are contacted, it can be difficult to determine their needs, Lawlor said.

“You find that someone who says he’s fine, [but] they haven’t eaten for a day. They don’t know where they are going to have their next meal,” he said.

Islanders who need help, even if they feel isolated and want wellness checks, can register with the Red Cross online or by calling 1-800-863-6582

PEI Ground Search and Rescue also travels across the province, knocking on doors to check on people.

Schools closed until Monday

All English and French-speaking public schools will remain closed until at least Monday October 3, Education Minister Natalie Jameson said at a press conference on Tuesday.

Six PEI schools. suffered significant damage. The schools are École Evangeline, Queen Charlotte Intermediate, Cardigan Consolidated, East Wiltshire Intermediate, West Royalty Elementary and Westwood Primary.

Students may need to temporarily relocate to other schools, and some may transition to online learning.

Various shots of Fiona’s damage (Shane Hennessey/CBC)

Pat and the elephant run again

Pat and the Elephant, a transport service for islanders with reduced mobility, resumed full service on Monday, but co-manager Halbert Pratt said he had difficulty reaching some customers.

“There are so many trees and wires and stuff down there that you can’t seem to get from point A to point B in a straight line anymore,” Pratt said.

He said communication also continues to be an issue.

This article was originally published for CBC News.

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Brakes India Accelerates New Product Development to Triple Exports https://originalscipo.info/brakes-india-accelerates-new-product-development-to-triple-exports/ Wed, 28 Sep 2022 05:28:39 +0000 https://originalscipo.info/brakes-india-accelerates-new-product-development-to-triple-exports/
Lightweight 22.5-inch single-piston one-piece air disc brake

Brakes India is eyeing both domestic market and exports to expand its business, Sriram Viji, Managing Director of Brakes India, said in an interview with Mobility prospects.

The company is part of the TSF group (following the recent restructuring of the TVS group) which also includes Wheels India and Axles India managed by the TS Santhanam family.

Brakes India’s exports at INR 1,200 crore represent just over 20% of total sales, and Viji was confident that they would grow more than the domestic market over the next five years.

By 2027, he added, global sales would double and exports would triple. “That’s what we set as an aspiration for ourselves; what we get depends on market conditions,” Viji said.

As part of this effort, Brakes India launched the lightweight 22.5-inch one-piece air disc brake at IAA Transportation 2022 in Hannover. This is the first time in the company’s 60-year history that a product has been launched globally.

The new offering has been tested to global standards and is set to become a benchmark in the commercial vehicle segment. According to Brakes India, it is significantly lighter at 34kg including pad compared to the company’s twin-piston system, and can be used in buses, trucks and trailers.

Tested over a million miles, the system features fewer internal tuning parts and a one-piece housing to reduce design failure modes. Designed and tested for two-piston bus and truck duty cycles, its structural rigidity has been improved by 25% at 0.6g torque compared to conventional systems.

Infographics
Sriram Viji (left) and his colleague examine the new braking system

Therefore, it can be used with brake pads with low μ (mu – coefficient of friction – the ratio of the force of friction resisting the movement of two surfaces in contact with the normal force that presses the two surfaces together) and smaller air chambers.

This is a significant property that can attract customers from Europe and North America, where buses, trucks and trailers largely operate in snowy conditions for much of the year.

The system has a double seal to control the influx of foreign bodies into the adjustment assembly. It also has an anti-wear contact surface, 360 cm² of brake pad and a 434 mm diameter rotor for better cooling and longer life.

Viji said the new braking system, which is also suitable for Indian conditions, is ready for overseas markets with validations in place. “It is ready to use for trucks, buses and trailers in global markets. We will launch all joint products simultaneously in all markets,” he added.

Market for new products

Viji was convinced of the niche applications with the product in the United States and South America. “We will start in this direction where we think we can enter the market and learn better. This will be our first step,” he said. According to him, it was better to be careful and understand customer expectations before slowly entering the market.

Brakes India was part of a joint venture with the German automotive systems manufacturer ZF Friedrichshafen AG for many years, which did not prevent it from working on new product development on its own. This has gained ground over the past five years; thus, it accelerated the speed of new product development, which required an increase in its R&D expenditure of approximately 50%.

The company also accelerated its time to market while streamlining R&D to develop new products and manufacturing processes. He is now focusing on further development, especially in the field of electronics.

It was June last year when ZF divested its 49% stake, but continued its technology licensing and supply agreements with Brakes India. “It’s a big change because ZF has been our technology partner for nearly 60 years. We will have challenges in terms of the continuity of some of the technologies. However, only around 27% of total sales depended on ZF technologies,” Viji said.

Even in this space, the company has localized many products and only a small part remains without technological continuity. “We will continue to work with our partners, including ZF, to see where we can see the right technologies for the product,” he added.

Electrification

Regarding electrification, Viji said there will be “a lot of big changes” in the core product portfolio over the next five to ten years. “Braking systems remain stable in electric vehicles, even in the commercial vehicle segment. As a result, we see core braking products, including the new lightweight 22.5-inch air disc brake, fitting seamlessly into the EV portfolio,” he explained.

The company has also supplied braking systems for many electric buses on the roads as well as electric passenger car platforms. “We are fully ready for electric vehicles,” he reiterated.

TSF companies at the IAA

Other TSF Group companies such as Wheels India and Axles India showcased their products at the IAA show. While the former featured its painted milled wheel and powder coated matte black wheel for the commercial vehicle segment (suitable for truck and trailer applications up to 5,000 kg load), the latter featured 9T-12T trailer axles stronger fully clad hub-to-hub and air suspension compatible.

Read also :

Brakes India sets benchmark in supplying green castings for Volvo

Brakes India launches ‘Elite’ high performance brake pads

ZF finalizes its disposals in Brakes India

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Nano Labs Ltd Announces Public Offering Price of https://originalscipo.info/nano-labs-ltd-announces-public-offering-price-of/ Wed, 28 Sep 2022 02:30:00 +0000 https://originalscipo.info/nano-labs-ltd-announces-public-offering-price-of/

HANGZHOU, China, Sept. 27, 2022 (GLOBE NEWSWIRE) — Nano Labs Ltd (Nasdaq: NA) (the “Company” or “Nano Labs”), a leading fabless integrated circuit (“IC”) design company and of product solutions provider in China, today announced that the Company’s previously announced registered public offering of American Depositary Shares (“ADSs”) was priced at US$2.40 per ADS. The Company will issue and sell 2,083,334 ADSs, each representing two Class A ordinary shares of the Company. The Company has granted subscribers a 30-day option to purchase up to a total of 312,500 additional ADSs. Gross proceeds to the Company will be US$5.0 million, assuming the option to purchase additional ADSs is not exercised.

Maxim Group LLC, AMTD Global Markets Limited and Tiger Brokers (NZ) Limited are acting as joint bookrunners for this offering.

A registration statement relating to these securities was declared effective by the United States Securities and Exchange Commission (the “SEC”) on September 27, 2022. This announcement does not constitute an offer to sell or a solicitation of an offer. purchase of securities. described herein, and there will be no offer, solicitation or sale of such 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. securities of any such state or jurisdiction.

This offering is being made only by means of a written prospectus forming part of the effective registration statement. A copy of the prospectus relating to this offering may be obtained by visiting the SEC’s website at www.sec.gov or by contacting: Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, by telephone at +1-212-895-3500, or by email at syndicate@maximgrp.com; AMTD Global Markets Limited, Attention: Equity Capital Markets, 23/F – 25/F Nexxus Building, 41 Connaught Road Central, Hong Kong, by phone at +852-3163-3288, or by email at project.metaverse@amtdinc .com; and Tiger Brokers (NZ) Limited, Level 27, 151 Queen Street, Auckland Central, Auckland 1010, New Zealand, by phone at +64-93-938-128 or by email: info_nz@tigerfintech.com.

About Nano Labs Ltd

Nano Labs Ltd is a leading fabless integrated circuit (“IC”) design company and product solution provider in China. Nano Labs is engaged in the development of High Speed ​​Computing (“HTC”) Chips, High Performance Computing (“HPC”) Chips, Distributed Computing and Storage Solutions, Vision Computing Chips for intelligent network interface cards (“NICs”) and distributed rendering. Nano Labs has built a complete Stream Processing Unit (“FPU”) architecture that provides a solution that integrates HTC and HPC functionality. Nano Lab’s Cuckoo series is one of the first near-memory HTC chips available on the market with a maximum bandwidth of approximately 2.27 Tbps, as well as one of the first engines in the Grin mining market based on ASIC* . For more information, please visit the company’s website at: ir.nano.cn.

*Based on an industry report prepared by Frost & Sullivan.

For investor and media inquiries, please contact:

Nano Laboratories Ltd.

Email: ir@nano.cn

Ascent Investor Relations LLC

Ms. Tina Xiao

Tel: (917) 609-0333

Email: tina.xiao@ascent-ir.com

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