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SHAREHOLDER ALERT: WeissLaw LLP Investigates Knoll, Inc.

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NEW YORK, April 19, 2021 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Knoll, Inc. (“Knoll” or the “Company”) (NYSE: KNL) in connection with the proposed cash and stock acquisition of the Company by Herman Miller, Inc. (“MLHR”) (NASDAQ: MLHR). Under the terms of the merger agreement, Knoll shareholders will receive $11.00 in cash and 0.32 shares of MLHR common stock for each Knoll share that they own, representing implied per-share merger consideration of approximately $25.18 based upon MLHR’s April 16, 2021 closing price of $44.30. Upon consummation of the transaction, current MLHR shareholders will own approximately 78% of the combined company and Knoll shareholders will own approximately 22%. The transaction is valued at approximately $1.8 billion.

WeissLaw LLP (PRNewsfoto/WeissLaw LLP)

If you own Knoll shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

Knoll, Inc. Investigation

Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

WeissLaw LLP is investigating whether (i) Knoll’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates Knoll’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-weisslaw-llp-investigates-knoll-inc-301271965.html

SOURCE WeissLaw LLP

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Molecule Completes $12M Series A to Bring Cloud-Native ETRM/CTRM to Global Market

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HOUSTON, May 6, 2021 /PRNewswire/ — Molecule, the leading SaaS platform powering the energy transition, announced the close of their $12 million Series A preferred round of funding. The investor group includes Mercury, a Houston-based early-stage venture capital firm that was an early believer in the Molecule team.

Molecule will use the new capital to capitalize on its strengths, further building out its Elektra offering for physical and financial power and launching world-class offerings to manage renewables credits and back-office ETRM functionality.

“In 2020, we realized that electricity—the growth commodity of the 2020s—represented over half of Molecule’s customer base, and we decided to double down,” said Sameer Soleja, founder and CEO of Molecule. “We were also rated the #1 SaaS ETRM/CTRM vendor. With this fundraise, we have the fuel to become #1 SaaS platform for power and renewables, and then the market leader overall. Molecule is ready to power the energy transition.”

“We led the seed round of Molecule upon their formation and are excited to participate in their Series A,” said Blair Garrou, co-founder and Managing Director of Mercury. “Molecule’s success in the ETRM/CTRM industry, especially in relation to electricity and renewables, positions them as the company to beat for the energy transition in the 2020s.”

Molecule is the only modern, mature energy trading and risk management solution on the market that is cloud-native. Legacy products require on-premise implementations and are complex to upgrade. Because Molecule was built in the cloud, the team can complete implementations in about ninety days – meaning they can respond quickly to the changing needs and complexities of the energy industry. Molecule supports a wide variety of physical and financial commodities, live on its platform: power, natural gas, crude/refined products, chemicals, agricultural commodities, softs, metals, cryptocurrencies, and more.

For more information, please visit www.molecule.io.

About Molecule
Molecule is the leader in cloud-native ETRM/CTRM. We make reliable, easy-to-use SaaS software for commodity traders, risk managers, and operations teams at hedge funds, marketers, hedge advisors, IPPs, and world-scale energy and PE firms – in power, gas, crude, refined products, chemicals, and agricultural products. Our customers can go home earlier because Molecule automates routine tasks and complex position, P&<, and risk calculations. Learn more about Molecule at https://www.molecule.io.

About Mercury
Mercury is an early-stage venture capital firm headquartered in Houston, Texas. With over $300 million under management, and $6 billion of value creation since inception, Mercury invests in entrepreneurs and innovation across Middle America. Our investment themes focus on SaaS, Cloud, and Data Science/AI platforms enabling the digital transformation of markets and industries. Learn more at www.mercuryfund.com.

Media Contact:
Melanie Bell
Phone: +1 281.900.5287
Email: melanie@strategicpiece.com

Cision View original content:https://www.prnewswire.com/news-releases/molecule-completes-12m-series-a-to-bring-cloud-native-etrmctrm-to-global-market-301285766.html

SOURCE Molecule

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Novavax and Gavi Execute Advance Purchase Agreement for COVID-19 Vaccine for COVAX Facility

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  • Novavax to deliver 350 million doses beginning Q3 2021
  • 1.1 billion doses of Novavax vaccine to be available to countries participating in COVAX
  • Serum Institute of India to provide balance of doses for LMICs
  • Underscores commitment to global equitable access to Novavax vaccine

GAITHERSBURG, Md., May 6, 2021 /PRNewswire/ — Novavax, Inc. (Nasdaq: NVAX), a biotechnology company developing next-generation vaccines for serious infectious diseases, today announced that it has finalized an advance purchase agreement (APA) with Gavi, the Vaccine Alliance (Gavi) for supply of its recombinant protein-based COVID-19 vaccine candidate to the COVAX Facility. Under the APA, Novavax is expected to manufacture and distribute 350 million doses of NVX-CoV2373 to countries participating under the COVAX Facility, which was established to allocate and distribute vaccines equitably to participating countries and economies. Under a separate purchase agreement with Gavi, the Serum Institute of India (Serum Institute) is expected to manufacture and deliver the balance of the 1.1 billion doses of Novavax’ vaccine.

“This is a tremendous opportunity to partner with global organizations focused on accelerating equitable access to safe and effective COVID-19 vaccines, particularly in countries where vaccination rates are currently low,” said Stanley C. Erck, President and Chief Executive Officer, Novavax. “This arrangement is the culmination of a collaboration among CEPI, Gavi, Serum Institute and Novavax, who are partnering in our urgent mission to deliver significant amounts of vaccines to all countries, regardless of income level. Novavax thanks CEPI for its longstanding support and tireless work with Gavi as the curators of the COVAX Facility.”

Under the APA, Novavax expects to deliver doses with antigen and adjuvant manufactured at facilities directly funded by the investments Novavax received from the Coalition for Epidemic Preparedness Innovations (CEPI). CEPI invested nearly $400 million in Novavax in the spring of 2020 to advance preclinical and early clinical development, manufacturing scale-up, technology transfer, and manufacturing capacity reservation for NVX-CoV2373.

“CEPI’s investments to accelerate the clinical development and manufacturing of this vaccine candidate have been critical to enabling equitable access to the vaccine through COVAX,” said Dr. Richard Hatchett, CEO of CEPI. “With this agreement in place, the Novavax vaccine candidate will play a vital role in our mission to protect those most at risk from COVID-19, wherever they are in the world.”

“Today’s agreement with Novavax marks a major step towards COVAX’s objective of building the world’s largest and most diverse portfolio of COVID-19 vaccines, and a major step towards our goal of delivering 2 billion doses of safe and effective vaccines in 2021,” said Dr Seth Berkley, CEO of Gavi. “Novavax’ commitment not only to support COVAX directly, but also through technology transfer via other manufacturers, shines a light on the end-to-end nature of COVAX and the kind of collaboration needed to bring this pandemic under control.”

Together, Novavax and Serum Institute expect to initiate delivery of the cumulative 1.1 billion doses in the third quarter of 2021, pending receipt of appropriate regulatory authorizations. Under the APA, Novavax will receive an upfront payment from Gavi later this month and an additional payment after it secures Emergency Use Listing for its vaccine by the WHO. In addition, Novavax has agreed to provide additional doses in the event that Serum Institute cannot materially deliver expected vaccine doses to the COVAX Facility.

Vaccine dose allocation will be determined by Gavi across the AMC-eligible and self-financing participants under a tiered pricing schedule.

“CEPI’s early support served as a catapult for Novavax to create a global supply network that we expect could provide a significant percent of the world’s vaccine supply via COVAX,” Erck continued. “We look forward to the ongoing collaboration with Serum Institute to deliver on our manufacturing capacity and to working with WHO to secure authorization as rapidly as possible for NVX-CoV2373.”

About the COVAX Facility
The COVAX Facility is a global risk-sharing mechanism for pooled procurement and equitable distribution of COVID-19 vaccines that currently includes more than 190 participating economies, designed and administered by Gavi, the Vaccine Alliance. It is part of COVAX, co-led by CEPI, Gavi and the World Health Organization (WHO), which are working in partnership with developed and developing country vaccine manufacturers, UNICEF, PAHO, the World Bank, civil society organizations and others to guarantee fair and equitable access to the vaccine.

About NVX-CoV2373
NVX-CoV2373 is a protein-based vaccine candidate engineered from the genetic sequence of SARS-CoV-2, the virus that causes COVID-19 disease. NVX-CoV2373 was created using Novavax’ recombinant nanoparticle technology to generate antigen derived from the coronavirus spike (S) protein and is adjuvanted with Novavax’ patented saponin-based Matrix-M™ to enhance the immune response and stimulate high levels of neutralizing antibodies. NVX-CoV2373 contains purified protein antigen and can neither replicate, nor can it cause COVID-19. In preclinical studies, NVX-CoV2373 induced antibodies that blocked the binding of spike protein to cellular receptors and provided protection from infection and disease. It was generally well-tolerated and elicited robust antibody response in Phase 1/2 clinical testing.

NVX-CoV2373 is being evaluated in two pivotal Phase 3 trials, a trial in the U.K. that demonstrated 100% protection against severe disease, efficacy of 96.4% against the original virus strain and 89.7% overall, and the PREVENT-19 trial in the U.S. and Mexico that began in December 2020. It is also being tested in two ongoing Phase 2 studies that began in August 2020: A Phase 2b trial in South Africa that demonstrated 100% protection against severe disease and 48.6% efficacy against a newly emerging escape variant, and a Phase 1/2 continuation in the U.S. and Australia.

NVX-CoV2373 is stored and stable at 2°- 8°C, allowing the use of existing vaccine supply chain channels for its distribution. It is packaged in a ready-to-use liquid formulation in 10-dose vials.

About Matrix-M™
Novavax’ patented saponin-based Matrix-M™ adjuvant has demonstrated a potent and well-tolerated effect by stimulating the entry of antigen presenting cells into the injection site and enhancing antigen presentation in local lymph nodes, boosting immune response.

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

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

Novavax Forward Looking Statements
Statements herein relating to the future of Novavax and the ongoing development of its vaccine and adjuvant products 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, 2020, as filed with the Securities and Exchange Commission (SEC). We caution investors not to place considerable reliance on 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. 
Erika Schultz | 240-268-2022
ir@novavax.com

Solebury Trout
Alexandra Roy | 617-221-9197
aroy@soleburytrout.com

Novavax Media
Laura Keenan | 202-709-7521
media@novavax.com

Logo – https://mma.prnewswire.com/media/1487159/Novovax_Logo.jpg

SOURCE Novavax, Inc.

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U.S. Labor Productivity Rebounds 5.4% In Q1, More Than Expected

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(RTTNews) – After reporting a sharp pullback in U.S. labor productivity in the previous quarter, the Labor Department released a report on Thursday showing productivity rebounded by more than expected in the first quarter of 2021.

The Labor Department said labor productivity spiked by 5.4 percent in the first quarter after tumbling by a revised 3.8 percent in the fourth quarter of 2020.

Economists had expected productivity to surge up by 4.3 percent compared to the 4.2 percent nosedive that had been reported for the previous quarter.

The rebound in productivity, a measure of output per hour, came as output shot up by 8.4 percent compared to a 2.9 percent increase in hours worked.

“Looking ahead, we expect productivity to strengthen in coming quarters and remain well supported as the economy experiences a mini boom in activity and the labor market lags to overall economic recovery,” said Kathy Bostjancic, Chief US Financial Economist at Oxford Economics.

She added, “Stronger productivity gains should buffer companies’ bottom lines against rising input costs and further boost profit growth this year amid an expected surge in companies’ sales.”

Meanwhile, the report showed unit labor costs edged down by 0.3 percent in the first quarter after soaring by a revised 5.6 percent in the fourth quarter.

Unit labor costs were expected to slump by 1.0 percent compared to the 6.0 percent jump that had been reported for the previous quarter.

The modest decrease in unit labor costs came as a 5.1 percent surge in hourly compensation was offset by the spike in productivity.

Real hourly compensation, which takes into account changes in consumer prices, increased by 1.3 percent in the first quarter.

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IIROC Trading Halt – VOTI

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VANCOUVER, BC, May 6, 2021 /CNW/ – The following issues have been halted by IIROC:

Company: Voti Detection Inc.

TSX-Venture Symbol: VOTI

All Issues: Yes

Reason: At the Request of the Company Pending News

Halt Time (ET): 9:06 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

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