Home / Press Releases

Press Releases

Novavax Announces Updates to Leadership Team

Frank Czworka appointed SVP, Global Sales

Brian Webb promoted to SVP, Manufacturing

GAITHERSBURG, Md., July 02, 2020 (GLOBE NEWSWIRE) — Novavax, Inc. (NASDAQ: NVAX), a late-stage biotechnology company developing next-generation vaccines for serious infectious diseases, today announced the appointment of Frank Czworka as Senior Vice President, Global Sales, with responsibility for leading sales planning and distribution. Novavax also announced the promotion of Brian Webb to Senior Vice President, Manufacturing, with responsibility for overseeing antigen manufacturing and supply activities in support of Novavax’ vaccine candidates.

“Frank’s extensive commercial and sales expertise will be invaluable to Novavax’ transformation into a commercial stage organization,” said Stanley C. Erck, President and Chief Executive Officer of Novavax. “Brian has been instrumental in the recent expansion and alignment of our manufacturing capabilities and supply partnerships. I am confident that the company will benefit greatly from their mutual expertise as we advance our efforts to bring NVX‑CoV2373 and NanoFlu to market.”

Mr. Czworka brings more than two decades of biopharmaceutical experience to Novavax, most recently serving as Vice President, Global Customer Engagement at U.S. Pharmacopeia. In sales and marketing leadership positions at Osiris Therapeutics, Auxilium Pharmaceuticals, MedImmune and TAP Pharmaceuticals, Mr. Czworka has assembled, developed, deployed and directed award-winning global sales and marketing teams to achieve business objectives. He has launched multiple medications across a variety of therapeutic areas while increasing patient access to vital treatments. Mr. Czworka received a bachelor of science degree in business administration – marketing from the University of Central Florida.

“This is an exciting time to join Novavax, with much to be accomplished as we advance our COVID-19 candidate and prepare the regulatory submission for NanoFlu,” said Mr. Czworka. “I’m excited to contribute to the team so that we can positively impact the lives of patients and reduce the global burden of these infectious diseases.”

Mr. Webb joined Novavax in May 2014 with responsibility for internal and external manufacturing. Prior to joining Novavax, Mr. Webb held numerous operational leadership roles at GlaxoSmithKline and Human Genome Sciences where he had the opportunity to take multiple products from early clinical stage through licensure and launch. He received a bachelor of science degree in biology from Salisbury University and a master of science degree in biotechnology from Johns Hopkins University.

About Novavax

Novavax, Inc. (Nasdaq:NVAX) is a late-stage biotechnology company that promotes improved health globally through the discovery, development, and commercialization of innovative vaccines to prevent serious infectious diseases. Novavax recently initiated development of NVX-CoV2373, its vaccine candidate against SARS-CoV-2, the virus that causes COVID-19, with Phase 1 clinical trial results expected in July of 2020. NanoFlu™, its quadrivalent influenza nanoparticle vaccine, met all primary objectives in its pivotal Phase 3 clinical trial in older adults. Both vaccine candidates incorporate Novavax’ proprietary saponin-based Matrix-M™ adjuvant in order to enhance the immune response and stimulate high levels of neutralizing antibodies. Novavax is a leading innovator of recombinant vaccines; its proprietary recombinant technology platform combines the power and speed of genetic engineering to efficiently produce highly immunogenic nanoparticles in order to address urgent global health needs.

For more information, visit www.novavax.com and connect with us on Twitter and LinkedIn.

Forward-Looking Statements

Statements herein relating to the future of Novavax and the ongoing development of its vaccine and adjuvant products, including statements regarding the manufacturing of vaccine antigen dose amounts and timing, are forward-looking statements. Novavax cautions that these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include those identified under the heading “Risk Factors” in the Novavax Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the Securities and Exchange Commission (SEC) and updated by any Quarterly Report on Form 10-Q, particularly the risks inherent to developing novel vaccines. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of the statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

Contacts:

Investors
Novavax, Inc.
Silvia Taylor and Erika Trahan
ir@novavax.com
240-268-2022

Media
Brandzone/KOGS Communication
Edna Kaplan
kaplan@kogspr.com
617-974-8659

Imperial Capital Hires Distressed Debt Trading Veteran, Simon Mullaly, to Head New European Private Credit Group

LOS ANGELES, July 02, 2020 (GLOBE NEWSWIRE) — Imperial Capital Group, LLC (“Imperial Capital”), announced today that Simon Mullaly has returned to the markets to launch a European Private Credit Group in which he will serve as Head Trader.  The European Private Credit Group will source private European credit investment opportunities for Imperial Capital’s institutional investors in both Europe and the US.

“We believe that Simon is rejoining the market at the opportune time when there is an increasing appetite for special situations trading in both Europe and the US,” said Tim Sullivan, President of Imperial Capital, LLC. “The addition of Simon to head a dedicated European Private Credit effort affirms the Company’s vision to expand our existing credit sales & trading franchise into non-cusip trading solutions for our clients.”

Simon Mullaly joins Imperial Capital as a Managing Director and Head of the European Private Credit Trading Group.  He will be based in Stamford, CT.  Previously, Mr. Mullaly was the founder and CEO of Yorvik Partners, a European based credit brokerage firm that specialized in distressed debt before being acquired by Sterne Agee in late 2013.  Prior to founding Yorvik, Mr. Mullaly managed trading desks for Deutsche Bank, AG and Lehman Brothers in London.  Mr. Mullaly earned an MBA from The Wharton School at the University of Pennsylvania and a BSc at Nottingham Trent University.

“I am excited to join Imperial Capital’s well-established fixed income platform that includes bespoke research,” said Simon Mullaly.  “I believe that we can leverage Imperial Capital’s platform to grow a Private European Credit group that complements the growth of private debt in Europe as a credible asset class that is systemically changing and here to stay.”

About Imperial Capital, LLC

Imperial Capital, LLC is a full-service investment bank offering a uniquely integrated platform of comprehensive services to institutional investors and middle market companies. We offer sophisticated sales and trading services to institutional investors and a wide range of investment banking advisory, capital markets and restructuring services to middle market corporate clients. Paired with our proprietary research and sales & trading desk analysis, we provide investment analysis across an issuer’s capital structure, including bank loans, debt securities, the hybrid/bank capital marketplace (through our ELP Framework), post-reorganization equities, special situations claims and listed and unlisted equities. Our comprehensive and integrated service platform, expertise across the global capital structure, and deep industry sector knowledge enable us to provide clients with research driven ideas, superior advisory services, and trade execution. We are quick to identify opportunities under any market conditions and we have a proven track record of offering creative, proprietary solutions to our clients. Imperial Capital, LLC has three principal businesses: Investment Banking, Institutional Sales & Trading and Institutional Research. More information about Imperial Capital, LLC can be found at www.imperialcapital.com.

For more information regarding Imperial Capital, please contact:
Mark Martis
+1 310 246 3674
mmartis@imperialcapital.com

About Imperial Capital (International), LLP

Imperial Capital International, founded in 2011, is an affiliate of Imperial Capital, LLC with an office in central London.  Complementing Imperial Capital’s existing corporate credit sales and trading franchise, Imperial Capital International expanded the Imperial Capital franchise into the EEA.  The company focuses on the entire credit spectrum and takes a full capital structure research approach to supplement sales and trading services to its European institutional clients.

For more information regarding Imperial Capital (International), LLP, please contact:
Emma McClintock
+ 44 (0) 207 650 5429
emcclintock@imperialcapital.com

Helsinn Group and MEI Pharma Discontinue the Phase 3 Study with Pracinostat in AML after Completing Interim Analysis

Helsinn Group and MEI Pharma Discontinue the Phase 3 Study with Pracinostat in AML after Completing Interim Analysis

Lugano, Switzerland and San Diego, USA, July 2, 2020 – Helsinn, a Swiss pharmaceutical group focused on building quality cancer care and rare diseases products, and MEI Pharma, Inc. (Nasdaq: MEIP), a late-stage pharmaceutical company focused on advancing potential new therapies for cancer, today announce that an interim futility analysis of the ongoing Phase 3 study of pracinostat in combination with azacitidine in patients with AML who are unfit to receive standard intensive chemotherapy, undertaken by the study Independent Data Monitoring Committee (“IDMC”), has demonstrated it was unlikely to meet the primary endpoint of overall survival compared to the control group. Based on the outcome of the interim analysis, the decision was made to discontinue the recruitment of patients and end the study. The decision was based on a lack of efficacy and not on safety concerns. Pending further evaluation, patients currently enrolled in other pracinostat studies will continue treatment.

About AML

Acute Myeloid Leukemia (AML) is a disorder of the blood and bone marrow caused by the uncontrolled proliferation of an abnormal hematopoietic cell of myeloid lineage. This results in a high circulating number of immature blood cells and replacement of normal bone marrow by malignant cells. AML has various subtypes, which are based on the type of cell from which the leukemia developed. It is typically a disease of older patients, with a median age at diagnosis of 67 years. Whilst the cure rate with intensive chemotherapy for AML patients who are 60 or younger is 35 to 40%, the rate is poor in older patients, typically not exceeding 15%.

About Pracinostat

Pracinostat is an oral histone deacetylase (“HDAC”) inhibitor that is being investigated in combination with azacitidine for the treatment of adults with newly diagnosed acute myeloid leukemia (“AML”) who are unfit for standard intensive chemotherapy. It is also being evaluated in a Phase II study in patients with high or very high-risk myelodysplastic syndromes (“MDS”). The U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have granted Orphan Drug Designation for pracinostat in combination with azacitidine for the treatment of patients with newly diagnosed AML who are ≥75 years of age or unfit for intensive chemotherapy. In addition, the FDA has granted Breakthrough Therapy Designation to the combination treatment.

In August 2016, Helsinn and MEI Pharma entered an exclusive license, development and commercialization agreement for pracinostat in AML and other potential indications. The agreement provides that Helsinn is primarily responsible for development and commercialization costs for pracinostat in AML and other indications, including MDS.

Pracinostat is an investigational agent and is not approved for commercial use in the U.S. or any other country worldwide.

About the Helsinn Group

Helsinn is a privately-owned Swiss Pharma Company which, since 1976, has been improving the lives of patients, guided by core family values of respect, integrity and quality. The Group has an extensive portfolio of marketed innovative cancer and rare disease therapies, a robust drug development pipeline and ambitions to further accelerate its growth through in-licensing and acquisition to address unmet medical needs. Helsinn operates a unique integrated licensing business model, achieving success with over 80 long-standing partners in 190 countries, who share our values. The Group’s pharmaceutical business, (Helsinn Healthcare) is headquartered in Lugano, Switzerland with operating subsidiaries in the U.S. (Helsinn Therapeutics US) and China (Helsinn Pharmaceuticals China) which market the Group’s products directly in these countries. The Group has additional operating subsidiaries in Switzerland (Helsinn Advanced Synthesis, an active pharmaceutical ingredient manufacturer) and Ireland (Helsinn Birex Pharmaceuticals, a drug product manufacturer). Helsinn Investment Fund was created to enhance the future of healthcare by providing funding and strategic support to innovative companies.

Helsinn Group plays an active and central role in promoting social transformation in favor of people and the environment. Corporate social responsibility is at the heart of everything we do which is reinforced in the company’s strategic plan by a commitment to sustainable growth.

To learn more about Helsinn Group please visit www.helsinn.com

About MEI Pharma

MEI Pharma, Inc. (Nasdaq: MEIP) is a late-stage pharmaceutical company focused on developing potential new therapies for cancer. MEI Pharma’s portfolio of drug candidates contains four clinical-stage assets, including ME-401, currently in an ongoing Phase 2 clinical trial which may support an accelerated approval marketing application with the U.S. Food and Drug Administration. Each of MEI Pharma’s pipeline candidates leverages a different mechanism of action with the objective of developing therapeutic options that are: (1) differentiated, (2) address unmet medical needs and (3) deliver improved benefit to patients either as standalone treatments or in combination with other therapeutic options. For more information, please visit www.meipharma.com.

Forward-Looking Statements

Under U.S. law, a new drug cannot be marketed until it has been investigated in clinical studies and approved by the FDA as being safe and effective for the intended use. Statements included in this press release that are not historical in nature are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. You should be aware that our actual results could differ materially from those contained in the forward-looking statements, which are based on management’s current expectations and are subject to a number of risks and uncertainties, including, but not limited to, our failure to successfully commercialize our product candidates; costs and delays in the development and or FDA approval, or the failure to obtain such approval, of our product candidates; uncertainties or differences in interpretation in clinical trial results; the impact of the COVID-19 pandemic on our industry and individual companies, including on our counterparties, the supply chain, the execution of our clinical development programs, our access to financing and the allocation of government resources; our inability to maintain or enter into, and the risks resulting from our dependence upon, collaboration or contractual arrangements necessary for the development, manufacture, commercialization, marketing, sales and distribution of any products; competitive factors; our inability to protect our patents or proprietary rights and obtain necessary rights to third party patents and intellectual property to operate our business; our inability to operate our business without infringing the patents and proprietary rights of others; general economic conditions; the failure of any products to gain market acceptance; our inability to obtain any additional required financing; technological changes; government regulation; changes in industry practice; and one-time events. We do not intend to update any of these factors or to publicly announce the results of any revisions to these forward-looking statements.

For more information:

Helsinn Group Media Contact:
Paola Bonvicini
Group Head of Communication
Lugano, Switzerland
Tel: +41 (0) 91 985 21 21
Email: Info-hhc@helsinn.com
For more information, please visit www.helsinn.com and follow us on Twitter, LinkedIn and Vimeo

MEI Pharma

David A. Walsey
VP of IR and Corporate Communications
Tel: 858-369-7104
investor@meipharma.com

Jason I. Spark
Canale Communications for MEI
Tel: 619-849-6005
jason@canalecomm.com

WillScot and Mobile Mini Complete Combination, Creating a North American Leader in Modular Space and Portable Storage Solutions

BALTIMORE and PHOENIX, July 01, 2020 (GLOBE NEWSWIRE) — WillScot Corporation (Nasdaq: WSC) (“WillScot”) and Mobile Mini, Inc. (Nasdaq: MINI) (“Mobile Mini”) today announced the successful completion of the previously announced merger pursuant to which WillScot, a leading specialty rental services provider of innovative modular space and portable storage solutions across North America, combined with Mobile Mini, a leading provider of portable storage solutions serving customers in the U.S., U.K., and Canada. The combined company is named WillScot Mobile Mini Holdings Corp. and its common stock will trade, beginning July 2, 2020, on Nasdaq under the ticker symbol “WSC.”

“The closing of this strategic and financially compelling merger creates a stronger and more diverse company that is better positioned for the future,” said Brad Soultz, President and Chief Executive Officer of WillScot. “I would first like to thank the employees of both companies for their invaluable contributions in creating these two complementary industry leaders.  During our time working with the Mobile Mini team, it is clear that our cultures are aligned, which gives me great confidence in our ability to execute and realize the value inherent in this combination.  I would also like to thank both the Mobile Mini and WillScot investors for their trust in us and their overwhelming support of the merger.”

Soultz continued, “The fact that we consummated this transaction and have continued to deliver outstanding operating results, while prioritizing the welfare of our employees and customers during an unprecedented pandemic, is truly a testament to the grit of our organizations and the resilience of our combined businesses.  We are entering the next chapter of our transformation with a stronger team, more diversified assets and end markets, a solid and rapidly de-leveraging balance sheet, robust free cash flow, and multiple compelling revenue and earnings growth levers that are within our control.  Together, we expect these combined strengths will compound and drive significant shareholder value creation for years to come.”

Kelly Williams, Mobile Mini’s President and Chief Executive Officer, remarked, “I am very proud of our entire team’s hard work and contributions towards making Mobile Mini the world class business it is today, and look forward to this next step in our company’s evolution. We are excited to join forces with WillScot to become an undisputed leader for the rental industry in both the portable storage and modular space solutions sectors.  We expect these two highly successful organizations to become even stronger together as our teams apply best practices and drive efficiencies across the combined business, providing even higher levels of premium service for our customers and further increasing value for our shareholders.”

Debt Structure at Closing

In connection with the transaction, WillScot, through its subsidiary, Williams Scotsman International, Inc., issued $650 million in aggregate principal amount of senior secured notes due 2025 and entered into a new $2.4 billion asset-based revolving credit facility. The proceeds from the notes offering together with approximately $1.43 billion of borrowings under the new credit facility were used to pay fees and expenses related to the transaction and to repay WillScot’s and Mobile Mini’s existing asset-based credit facilities, WillScot’s senior secured notes due 2022 and all of Mobile Mini’s outstanding senior notes. In addition, $490 million in aggregate principal amount of WillScot’s senior secured notes due 2023 and approximately $77 million of Mobile Mini capital leases remain outstanding following the transaction.  Upon completion of the aforementioned transactions, WillScot Mobile Mini Holdings Corp. had approximately $2.65 billion of gross debt and capital leases outstanding, and over $900 million of available liquidity in its credit facility.

Equity Structure at Closing

Shares of Mobile Mini common stock ceased trading prior to the market open on July 1, 2020, and each share of Mobile Mini common stock has been converted into the right to receive 2.4050 shares of WillScot Class A common stock, less any applicable withholding taxes and, if applicable, cash in lieu of fractional shares. Upon the closing of the merger, WillScot’s name changed to “WillScot Mobile Mini Holdings Corp.,” all shares of WillScot’s Class A common stock, including those to be issued to Mobile Mini stockholders as merger consideration, were reclassified as shares of common stock of WillScot Mobile Mini Holdings Corp., and will trade on Nasdaq under the ticker symbol “WSC.” WillScot stockholders continue to hold their shares, which now constitute shares of common stock of WillScot Mobile Mini Holdings Corp.

Pursuant to the transactions contemplated by the merger agreement and prior to the closing of the merger, the former minority owner of shares in WillScot’s direct subsidiary exchanged such shares for shares of WillScot Class A common stock. This exchange resulted in the elimination of the minority interest previously held in WillScot’s direct subsidiary and the cancellation of WillScot’s outstanding shares of Class B common stock. As a result, WillScot Mobile Mini Holdings has a single class of common stock and 100% ownership in its operating subsidiaries.

Upon completion of the aforementioned transactions, we expect WillScot Mobile Mini Holdings Corp. will have approximately 228,000,000 common shares outstanding, as of July 1, 2020, subject to adjustment based on the final settlement of the shares issued to Mobile Mini stockholders and giving effect to the payment of cash in lieu of any fractional shares. In addition, 8,780,850 shares underlying the 2015 Private Warrants ($11.50 exercise price), and 9,782,106 shares underlying the 2018 Warrants ($15.50 exercise price) were outstanding as of July 1, 2020.

Headquarters and Executive Leadership Team

WillScot Mobile Mini Holdings Corp. is headquartered in Phoenix, Arizona. The company is led by a highly experienced executive leadership team comprised of Brad Soultz, Chief Executive Officer, Kelly Williams, President and Chief Operating Officer, and Tim Boswell, Chief Financial Officer.

Advisors

Morgan Stanley & Co. LLC served as the lead financial advisor to WillScot, Rothschild & Co. served as the financing advisor to WillScot, and Stifel, Nicolaus & Co., Inc. served as the financial advisors to the special committee of WillScot’s Board of Directors. BofA Securities Inc., Deutsche Bank Securities Inc., and J.P. Morgan Securities LLC served as additional financial advisors to WillScot. Allen & Overy LLP acted as external legal counsel to WillScot.

Barclays Capital Inc. and Goldman Sachs & Co. LLC served as the financial advisors to Mobile Mini, and Davis Polk & Wardwell LLP acted as external legal counsel to Mobile Mini.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. The words “estimates,” “expects,” “anticipates,” “believes,” “forecasts,” “plans,” “intends,” “may,” “will,” “should,” “shall,” “outlook” and variations of these words and similar expressions (or the negative thereof) identify forward-looking statements, which are generally not historical in nature. Certain of these forward-looking statements relate to the business combination (the “Transaction”) involving WillScot and Mobile Mini, including: expected scale; operating efficiency; stockholder, employee and customer benefits; key assumptions; the amount and timing of revenue and expense synergies; future financial benefits and operating results; and integration spend, which reflects management’s beliefs, expectations and objectives as of the date hereof. Forward-looking statements are subject to a number of risks, uncertainties, including the impacts of the COVID-19 pandemic, assumptions and other important factors, many of which are outside our control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. These forward-looking statements are only estimates, assumptions and projections and involve known and unknown risks and uncertainties, many of which are beyond the control of WillScot and Mobile Mini. Important Transaction-related factors that may cause such differences include, but are not limited to: the risk that expected revenue, expense and other synergies from the Transaction may not be fully realized or may take longer to realize than expected; the parties are unable to successfully implement their integration strategies; the inherent uncertainty associated with financial or other projections; the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; and disruptions to the parties’ businesses and financial condition as a result of the Transaction. Other important factors include: the parties’ ability to manage growth and execute their business plan; their estimates of the size of the markets for their products; the rate and degree of market acceptance of their products; the success of other competing modular space and portable storage solutions that exist or may become available; rising costs adversely affecting their profitability (including cost increases resulting from tariffs); general economic and market conditions impacting demand for their products and services; the value of WillScot shares to be issued in the Transaction; the parties’ capital structure, levels of indebtedness and availability of credit; the ability to retain and hire key personnel and uncertainties arising from leadership changes; the response of business partners as a result of the Transaction; the diversion of management attention from business operations to the Transaction; the ability to implement and maintain an effective system of internal controls; potential litigation involving WillScot, Mobile Mini or the combined company; implementation of tax reform; the intended qualification of the Transaction as a tax-free reorganization; the changes in political conditions in the U.S. and other countries in which the parties operate, including U.S. trade policies or the U.K.’s withdrawal from the European Union; and such other risks and uncertainties described in the periodic reports WillScot files with the SEC from time to time including the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on March 2, 2020 and its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020, which was filed with the SEC on May 6, 2020, each of which are or will be available through the SEC’s EDGAR system at www.sec.gov. Any forward-looking statement speaks only as of the date on which it is made, and none of WillScot, Mobile Mini or Holdings assumes any obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

About WillScot Mobile Mini Holdings Corp.

WillScot Mobile Mini Holdings Corp. trades on the Nasdaq stock exchange under the ticker symbol “WSC.” Based in Phoenix, Arizona, WillScot Mobile Mini Holdings is a North American leader in modular space and portable storage solutions.  It was formed in 2020 upon the merger of leaders in the modular space and portable storage markets.  Together the WillScot and Mobile Mini brands operate approximately 375 locations across the United States, Canada, Mexico, and the United Kingdom with a combined fleet of over 350,000 portable offices and storage containers.  They lease turnkey office space and storage solutions for temporary applications across a diverse customer base in the commercial and industrial, construction, retail, education, health care, government, transportation, security and energy sectors.  They create value by enabling customers to add space efficiently and cost-effectively – when the solution is perfect, productivity is all the customer sees.

Additional Information and Where to Find It

Additional information about WillScot Mobile Mini Holdings Corp can be found on its website at www.willscotmobilemini.com

Contact Information

Investor Inquiries:

Emily Tadano

emily.tadano@willscotmobilemini.com

Media Inquiries:

Scott Junk

scott.junk@willscotmobilemini.com

WillScot and Mobile Mini Complete Combination, Creating a North American Leader in Modular Space and Portable Storage Solutions

BALTIMORE and PHOENIX, July 01, 2020 (GLOBE NEWSWIRE) — WillScot Corporation (Nasdaq: WSC) (“WillScot”) and Mobile Mini, Inc. (Nasdaq: MINI) (“Mobile Mini”) today announced the successful completion of the previously announced merger pursuant to which WillScot, a leading specialty rental services provider of innovative modular space and portable storage solutions across North America, combined with Mobile Mini, a leading provider of portable storage solutions serving customers in the U.S., U.K., and Canada. The combined company is named WillScot Mobile Mini Holdings Corp. and its common stock will trade, beginning July 2, 2020, on Nasdaq under the ticker symbol “WSC.”

“The closing of this strategic and financially compelling merger creates a stronger and more diverse company that is better positioned for the future,” said Brad Soultz, President and Chief Executive Officer of WillScot. “I would first like to thank the employees of both companies for their invaluable contributions in creating these two complementary industry leaders.  During our time working with the Mobile Mini team, it is clear that our cultures are aligned, which gives me great confidence in our ability to execute and realize the value inherent in this combination.  I would also like to thank both the Mobile Mini and WillScot investors for their trust in us and their overwhelming support of the merger.”

Soultz continued, “The fact that we consummated this transaction and have continued to deliver outstanding operating results, while prioritizing the welfare of our employees and customers during an unprecedented pandemic, is truly a testament to the grit of our organizations and the resilience of our combined businesses.  We are entering the next chapter of our transformation with a stronger team, more diversified assets and end markets, a solid and rapidly de-leveraging balance sheet, robust free cash flow, and multiple compelling revenue and earnings growth levers that are within our control.  Together, we expect these combined strengths will compound and drive significant shareholder value creation for years to come.”

Kelly Williams, Mobile Mini’s President and Chief Executive Officer, remarked, “I am very proud of our entire team’s hard work and contributions towards making Mobile Mini the world class business it is today, and look forward to this next step in our company’s evolution. We are excited to join forces with WillScot to become an undisputed leader for the rental industry in both the portable storage and modular space solutions sectors.  We expect these two highly successful organizations to become even stronger together as our teams apply best practices and drive efficiencies across the combined business, providing even higher levels of premium service for our customers and further increasing value for our shareholders.”

Debt Structure at Closing

In connection with the transaction, WillScot, through its subsidiary, Williams Scotsman International, Inc., issued $650 million in aggregate principal amount of senior secured notes due 2025 and entered into a new $2.4 billion asset-based revolving credit facility. The proceeds from the notes offering together with approximately $1.43 billion of borrowings under the new credit facility were used to pay fees and expenses related to the transaction and to repay WillScot’s and Mobile Mini’s existing asset-based credit facilities, WillScot’s senior secured notes due 2022 and all of Mobile Mini’s outstanding senior notes. In addition, $490 million in aggregate principal amount of WillScot’s senior secured notes due 2023 and approximately $77 million of Mobile Mini capital leases remain outstanding following the transaction.  Upon completion of the aforementioned transactions, WillScot Mobile Mini Holdings Corp. had approximately $2.65 billion of gross debt and capital leases outstanding, and over $900 million of available liquidity in its credit facility.

Equity Structure at Closing

Shares of Mobile Mini common stock ceased trading prior to the market open on July 1, 2020, and each share of Mobile Mini common stock has been converted into the right to receive 2.4050 shares of WillScot Class A common stock, less any applicable withholding taxes and, if applicable, cash in lieu of fractional shares. Upon the closing of the merger, WillScot’s name changed to “WillScot Mobile Mini Holdings Corp.,” all shares of WillScot’s Class A common stock, including those to be issued to Mobile Mini stockholders as merger consideration, were reclassified as shares of common stock of WillScot Mobile Mini Holdings Corp., and will trade on Nasdaq under the ticker symbol “WSC.” WillScot stockholders continue to hold their shares, which now constitute shares of common stock of WillScot Mobile Mini Holdings Corp.

Pursuant to the transactions contemplated by the merger agreement and prior to the closing of the merger, the former minority owner of shares in WillScot’s direct subsidiary exchanged such shares for shares of WillScot Class A common stock. This exchange resulted in the elimination of the minority interest previously held in WillScot’s direct subsidiary and the cancellation of WillScot’s outstanding shares of Class B common stock. As a result, WillScot Mobile Mini Holdings has a single class of common stock and 100% ownership in its operating subsidiaries.

Upon completion of the aforementioned transactions, we expect WillScot Mobile Mini Holdings Corp. will have approximately 228,000,000 common shares outstanding, as of July 1, 2020, subject to adjustment based on the final settlement of the shares issued to Mobile Mini stockholders and giving effect to the payment of cash in lieu of any fractional shares. In addition, 8,780,850 shares underlying the 2015 Private Warrants ($11.50 exercise price), and 9,782,106 shares underlying the 2018 Warrants ($15.50 exercise price) were outstanding as of July 1, 2020.

Headquarters and Executive Leadership Team

WillScot Mobile Mini Holdings Corp. is headquartered in Phoenix, Arizona. The company is led by a highly experienced executive leadership team comprised of Brad Soultz, Chief Executive Officer, Kelly Williams, President and Chief Operating Officer, and Tim Boswell, Chief Financial Officer.

Advisors

Morgan Stanley & Co. LLC served as the lead financial advisor to WillScot, Rothschild & Co. served as the financing advisor to WillScot, and Stifel, Nicolaus & Co., Inc. served as the financial advisors to the special committee of WillScot’s Board of Directors. BofA Securities Inc., Deutsche Bank Securities Inc., and J.P. Morgan Securities LLC served as additional financial advisors to WillScot. Allen & Overy LLP acted as external legal counsel to WillScot.

Barclays Capital Inc. and Goldman Sachs & Co. LLC served as the financial advisors to Mobile Mini, and Davis Polk & Wardwell LLP acted as external legal counsel to Mobile Mini.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. The words “estimates,” “expects,” “anticipates,” “believes,” “forecasts,” “plans,” “intends,” “may,” “will,” “should,” “shall,” “outlook” and variations of these words and similar expressions (or the negative thereof) identify forward-looking statements, which are generally not historical in nature. Certain of these forward-looking statements relate to the business combination (the “Transaction”) involving WillScot and Mobile Mini, including: expected scale; operating efficiency; stockholder, employee and customer benefits; key assumptions; the amount and timing of revenue and expense synergies; future financial benefits and operating results; and integration spend, which reflects management’s beliefs, expectations and objectives as of the date hereof. Forward-looking statements are subject to a number of risks, uncertainties, including the impacts of the COVID-19 pandemic, assumptions and other important factors, many of which are outside our control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. These forward-looking statements are only estimates, assumptions and projections and involve known and unknown risks and uncertainties, many of which are beyond the control of WillScot and Mobile Mini. Important Transaction-related factors that may cause such differences include, but are not limited to: the risk that expected revenue, expense and other synergies from the Transaction may not be fully realized or may take longer to realize than expected; the parties are unable to successfully implement their integration strategies; the inherent uncertainty associated with financial or other projections; the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; and disruptions to the parties’ businesses and financial condition as a result of the Transaction. Other important factors include: the parties’ ability to manage growth and execute their business plan; their estimates of the size of the markets for their products; the rate and degree of market acceptance of their products; the success of other competing modular space and portable storage solutions that exist or may become available; rising costs adversely affecting their profitability (including cost increases resulting from tariffs); general economic and market conditions impacting demand for their products and services; the value of WillScot shares to be issued in the Transaction; the parties’ capital structure, levels of indebtedness and availability of credit; the ability to retain and hire key personnel and uncertainties arising from leadership changes; the response of business partners as a result of the Transaction; the diversion of management attention from business operations to the Transaction; the ability to implement and maintain an effective system of internal controls; potential litigation involving WillScot, Mobile Mini or the combined company; implementation of tax reform; the intended qualification of the Transaction as a tax-free reorganization; the changes in political conditions in the U.S. and other countries in which the parties operate, including U.S. trade policies or the U.K.’s withdrawal from the European Union; and such other risks and uncertainties described in the periodic reports WillScot files with the SEC from time to time including the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on March 2, 2020 and its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020, which was filed with the SEC on May 6, 2020, each of which are or will be available through the SEC’s EDGAR system at www.sec.gov. Any forward-looking statement speaks only as of the date on which it is made, and none of WillScot, Mobile Mini or Holdings assumes any obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

About WillScot Mobile Mini Holdings Corp.

WillScot Mobile Mini Holdings Corp. trades on the Nasdaq stock exchange under the ticker symbol “WSC.” Based in Phoenix, Arizona, WillScot Mobile Mini Holdings is a North American leader in modular space and portable storage solutions.  It was formed in 2020 upon the merger of leaders in the modular space and portable storage markets.  Together the WillScot and Mobile Mini brands operate approximately 375 locations across the United States, Canada, Mexico, and the United Kingdom with a combined fleet of over 350,000 portable offices and storage containers.  They lease turnkey office space and storage solutions for temporary applications across a diverse customer base in the commercial and industrial, construction, retail, education, health care, government, transportation, security and energy sectors.  They create value by enabling customers to add space efficiently and cost-effectively – when the solution is perfect, productivity is all the customer sees.

Additional Information and Where to Find It

Additional information about WillScot Mobile Mini Holdings Corp can be found on its website at www.willscotmobilemini.com

Contact Information

Investor Inquiries:

Emily Tadano

emily.tadano@willscotmobilemini.com

Media Inquiries:

Scott Junk

scott.junk@willscotmobilemini.com

Aviation Week Network offering complimentary access to Urban Air Mobility Virtual, August 11-13

NEW YORK, July 01, 2020 (GLOBE NEWSWIRE) — Aviation Week Network is hosting Urban Air Mobility (UAM) August 11-13 as a virtual event with complimentary access. Speakers include leaders from companies that are leading the way in this new frontier, including Uber, Elevate, NASA, Jaunt Air, Varon Vehicles, Votlwerke, and more.

UAM, which is sponsored by EmbraerX and Janicki Industries, will help attendees mitigate today’s challenges through the revolutionary virtual conference and networking event for the urban air mobility community. Attendees will access live streamed content, set up a profile and meet with attendees through Aviation Week Network’s matchmaking algorithm, and visit virtual exhibitors to learn more from the top leaders in the industry.

The event will bring together OEMs, Aviation Authorities and Regulators, Transport Providers, Investors, Start Ups, Hardware and Software Companies, Government, Regulatory Bodies and Trade Associations, Consultants, Academia, Air Traffic Management.

Conference subjects include:

“NASA estimates that 400 companies are already involved in this new era of air travel, and the sector is now at a stage where prototypes are being invested in to prepare for commercialization and deployment throughout the world,” said Jessica Bradley, UAM Conference Producer for Aviation Week Network. “We’ve been bringing the sector together through our Urban Air Mobility series, which have taken place in the U.S., Europe and Asia. The virtual platform breaks down physical barriers and builds virtual communities and the event continues to deliver the same high-quality content.”

While in-person events are paused, connecting with the industry audience is not. Aviation Week Network’s virtual platform enables attendees to break down physical barriers, build virtual communities, engage with content and network with colleagues.

ABOUT AVIATION WEEK NETWORK
Aviation Week Network is the largest multimedia information and services provider for the global aviation, aerospace, and defense industries, serving 1.7 million professionals around the world. Industry professionals rely on Aviation Week Network to help them understand the market, make decisions, predict trends, and connect with people and business opportunities. Customers include the world’s leading aerospace manufacturers and suppliers, airlines, airports, business aviation operators, militaries, governments and other organizations that serve this worldwide marketplace. Aviation Week Network’s portfolio delivers award-winning journalism, data, intelligence and analytical resources, world-class tradeshows and conferences, and results-driven marketing services and advertising is helping our customers succeed. Aviation Week Network is part of Informa Markets, a division of Informa PLC.

ABOUT INFORMA MARKETS
Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio is comprised of more than 550 international B2B events and brands in markets including Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage, and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world’s leading exhibitions organiser, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, please visit www.informamarkets.com.

MEDIA CONTACT:
Elizabeth Kelley Grace
Elizabeth@thebuzzagency.net
+1-561-702-7471

Ria Money Transfer Unveils New Logo and Launches New Brand Image

BUENA PARK, Calif., July 01, 2020 (GLOBE NEWSWIRE) — Ria Money Transfer, a leading money transfer company and subsidiary of Euronet Worldwide Inc. (NASDAQ: EEFT), unveiled today its new visual identity following a holistic rebranding effort. The new logo and visual concept are inspired by the company’s spirit and honor its diverse customer base, workforce, and the lives touched by Ria’s expansive geographic and digital network.

Ria’s brand transformation establishes a more dynamic dialogue with its customers. Aside from a new logo and contemporary visual concept, the company has redefined its messaging scope to better connect with its diverse customer base. While Ria has always been about opening ways for a better everyday life, it is now the company’s defining purpose and will guide the evolution of the business into the future.

Today, people are on the move more than ever before. For a better future. For a better everyday life. As a leading money transfer company, Ria is committed to helping businesses and individuals prosper through the safe, convenient, and affordable transfer of funds. By providing a fast and reliable service at a great value, Ria gets money to where it matters.

“Our customers are at the heart of everything we do, and we want our new brand identity to reflect that,” said Shawn Fielder, CEO of Ria Money Transfer. “ Through our new brand concept, we honor the journeys and sacrifices of our customers. For us, it’s about providing more than just a money transfer service. Our goal is to strengthen our close-knit relationships with our customers and make them feel safe, appreciated, and understood.”

Introducing the new Ria Brand

Purpose: What’s behind Ria’s drive

Ria opens ways for a better everyday life. This is the company’s purpose and driving force behind why, how, and what it does. No matter where customers are in the world, Ria gets your money to where it needs to go – quickly, simply, and affordably.

Logo: Putting our customers front and center

The new Ria logo lets customers take center stage. The “i” symbolizes the individual, with the “r” and “a” representing Ria’s support. The dot in the “i” when extrapolated from the logo serves as a standalone orange disc, an element that speaks to the connection and support customers can achieve through using Ria’s services.

The Orange Disc: Bringing the logo to life

What was once an image of an interconnected globe has been simplified to an orange disc that represents the story of each money transfer. The emphasis is no longer on the world in its entirety but on the customer’s individual world and what each person can do for herself or himself and their loved ones when given the necessary tools.

Photography and Illustrations: Communicating across borders

Ria’s new photography style is simple and powerful, effectively highlighting the message it’s looking to convey. The use of illustration also gives Ria the flexibility to connect with diverse audiences, cultures, and age groups through inclusive and emotionally compelling content.

The rebranding also comes as a response to Ria’s expanding global footprint as well as its digital product and expansion strategy.

“When you start a company, your focus is on serving customers and creating products or solutions that fit their needs,” said Juan Bianchi, CEO of Euronet’s Money Transfer Segment. “Now, after nearly 35 years in the industry, we’ve realized that Ria has become much more than just a business. It’s an idea, a community. We needed a brand identity that reflected what Ria means to people and, more importantly, what people mean to Ria.”

For Ria, the most important aspect of its business is being a part of its customers’ lives. Ultimately, this is what the new brand tries to illustrate: An orange glow working behind the scenes to make loved ones feel close and goals feel attainable.

To learn more about the Ria brand and its new look, click here.

About Ria Money Transfer

Ria, a subsidiary of Euronet Worldwide, Inc. (EEFT), is a global leader in the money transfer industry. The company is steadfast in its commitment to its clients and their communities, offering fast, secure, and affordable money transfers through a network of over 402,000 locations spanning across 158 countries and online at www.riamoneytransfer.com.

For more information, visit www.corporate.riafinancial.com.

Contact:

Aura Martínez Schifflers

amschifflers@riafinancial.com

+34 691517636