
Quantum computing firm IonQ to acquire UK-based Oxford Ionics for $1.08 billion
Niccolo de Masi, CEO and President of IonQ, Inc, rings the Closing Bell at the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2025. REUTERS/Brendan McDermid/File Photo

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2 hours ago
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FirstEnergy Announces Proposed Offering of $950 Million of Convertible Senior Notes Due 2029 and $850 Million of Convertible Senior Notes Due 2031
AKRON, Ohio, June 9, 2025 /PRNewswire/ — FirstEnergy Corp. (NYSE: FE) ('FirstEnergy') announced today that it intends to offer, subject to market and other conditions, $950 million aggregate principal amount of convertible senior notes due 2029 (such series, the '2029 Notes') and $850 million aggregate principal amount of convertible senior notes due 2031 (such series, the '2031 Notes' and, together with the 2029 Notes, the 'Notes') in a private placement under the Securities Act of 1933, as amended (the 'Securities Act'). FirstEnergy also intends to grant to each of the initial purchasers of the Notes an option to purchase, within a 13-day period from, and including, the date on which the convertible notes are first issued, up to an additional $150 million aggregate principal amount of the 2029 Notes and an additional $150 million aggregate principal amount of the 2031 Notes. FirstEnergy intends to use the net proceeds from the offering of the Notes for (i) the repurchase of all or a portion of the $1.5 billion aggregate principal amount outstanding of its 4.00% convertible senior notes due May 1, 2026, (ii) the repayment, redemption or refinancing of existing indebtedness, (iii) general corporate purposes, or (iv) any combination of the foregoing. FirstEnergy's management will have broad discretion in determining how the net proceeds from the offering will be used. The Notes will be unsecured and unsubordinated obligations of FirstEnergy, and will be convertible at the option of the holders of each series of Notes upon satisfaction of certain conditions and during certain periods. Interest will be payable semiannually in arrears. FirstEnergy will settle conversions of the Notes by paying cash up to the aggregate principal amount of the convertible notes to be converted and paying or delivering, as the case may be, cash, shares of its common stock or a combination of cash and shares of its common stock, at its election, in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the Notes being converted. The interest rate, initial conversion rate and other terms of each series of Notes will be determined at the pricing of the offering. The offering is being made to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. Any offers of the Notes will be made only by means of a private offering memorandum. None of the Notes or any shares of the common stock issuable upon conversion of the Notes have been or are expected to be registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any shares of common stock issuable upon conversion of the Notes, nor will there be any sale of the Notes or any such shares 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 any such state or jurisdiction. About FirstEnergy Corp. FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving more than 6 million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at and on X @FirstEnergyCorp. Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management and unless the context requires otherwise, references to 'we,' 'us,' 'our' and 'FirstEnergy' refers to FirstEnergy Corp. and its subsidiaries. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements typically contain, but are not limited to, the terms 'anticipate,' 'potential,' 'expect,' 'forecast,' 'target,' 'will,' 'intend,' 'believe,' 'project,' 'estimate,' 'plan' and similar words. These statements include declarations regarding management's intents, beliefs and current expectations, including statements regarding FirstEnergy Corp.'s current expectations and beliefs as to the pricing and closing of the convertible notes offering and use of the proceeds thereof. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve or rely on a number of known and unknown risks, uncertainties and other factors that are difficult to predict or are beyond our control, and reflect management's beliefs and assumptions based on information available at the time the statements are made. FirstEnergy Corp. cautions you that actual results may differ materially from those expressed, implied or forecast by the forward-looking statements. Risks that may cause these forward-looking statements to be inaccurate or incorrect include, among others whether we will be able to consummate the convertible notes offering; the final terms of the convertible notes offering; the satisfaction of customary closing conditions with respect to the convertible notes offering; prevailing market conditions; the anticipated use of net proceeds of the convertible notes offering which could change as a result of market conditions or for other reasons; and the risks and other factors discussed from time to time in our Securities and Exchange Commission filings, including, but not limited to, the most recent Annual Report on Form 10-K, and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. FirstEnergy Corp. expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein or in the information incorporated by reference as a result of new information, future events or otherwise.


The Star
7 hours ago
- The Star
Quantum computing firm IonQ to acquire UK-based Oxford Ionics for $1.08 billion
Niccolo de Masi, CEO and President of IonQ, Inc, rings the Closing Bell at the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2025. REUTERS/Brendan McDermid/File Photo


Malaysian Reserve
8 hours ago
- Malaysian Reserve
Markel International appoints Sucheng Chang to lead Asia Pacific operations
LONDON, June 9, 2025 /PRNewswire/ — Markel Insurance, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced that it has appointed Sucheng Chang as its new Managing Director for Asia Pacific, with effect from 14 July. In his new role, Chang will head up Markel International's Asia Pacific business, which operates from its regional hub in Singapore and from offices in Australia, Hong Kong, China, India, Malaysia and Dubai. He will be responsible for leading the strategic direction of the business, centered on maximizing profitable growth and delivering exceptional client and broker service. Markel International's Asia Pacific business has witnessed significant expansion in recent years, following investment made as part of its Accelerate Asia Pacific strategy. Since 2019, GWP has increased by approximately 600%, underwriting profitability has improved and the number of employees in the region has increased by nearly 300%. Chang will take over from Christian Stobbs, who earlier this year announced his decision to leave the Asia Pacific region, remaining with Markel in another role. Commenting on Chang's appointment, Andrew McMellin, President of Markel International, said: 'Sucheng is a highly strategic and well-respected leader within the Asia Pacific market, and I'm thrilled that he's joining Markel to lead our regional business in the next phase of its development. The Accelerate Asia Pacific strategy is a cornerstone of the profitable growth agenda at Markel International. I've no doubt that Sucheng's leadership qualities and his significant experience of scaling insurance operations in Asia will help us to build on this momentum as we push it forward to even greater success.' Chang added: 'Markel has made huge inroads in Asia Pacific and today is a well-respected insurance partner to clients and trading partners in the region, renowned for its focus on exceptional service and customer outcomes. I therefore couldn't be more excited to lead the next phase of the expansion of Markel's Asia Pacific business, building on the progress that's been made to expand our presence even further and take advantage of the opportunities available in the US$300-billion GWP Asia-Pacific insurance market.' Chang arrives at Markel with significant experience scaling insurance operations across the Asia Pacific, most recently as Chief Executive Officer, Hong Kong, for Aon. Prior to joining Aon, Chang spent more than 13 years at Liberty Mutual in strategic roles, including Chief Distribution Officer, Global Retail Markets East and Chief Executive Officer of Liberty Insurance Singapore. He holds an MBA from Yale University and BA from Boston University. About Markel Insurance We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide. Logo – View original content: