
Sprott: Q1 Earnings Snapshot
The Toronto-based company said it had net income of 46 cents per share.
The company posted revenue of $43.4 million in the period.
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Los Angeles Times
11 minutes ago
- Los Angeles Times
Kayne Anderson BDC Announces Investment in Southern California Credit Platform SG Credit Partners
Kayne Anderson BDC Inc., a business development company externally managed by its investment adviser, KA Credit Advisors LLC, which is an affiliate of Kayne Anderson Capital Advisors LP, announced an investment in SG Credit Partners Inc., a Southern California-based national credit platform focused on the lower middle market. SG Credit was formed in 2013 and has offices in Newport Beach and Santa Monica, along with regional offices in Atlanta, Boston and Chicago. It has invested in more than 200 companies, originating over $1 billion in commitments across its three lending verticals (commercial finance, consumer products and software & technology). It plans to use its expanded capital base to grow existing verticals and develop adjacent businesses. 'This is a key strategic opportunity for KBDC and highlights our commitment to growing our portfolio with value-enhancing investments,' said Doug Goodwillie, co-chief executive of KBDC, in a statement. 'SG Credit's unique lower middle market lending platform is highly complementary to our business and will further enhance the returns of KBDC's diversified portfolio.' The investment complements KBDC's private credit investment capabilities by further diversifying proprietary investment channels and will be structured as an $80-million term loan facility, $34-million delayed draw term loan facility and $12-million common equity investment. KBDC anticipates that its debt investment in SG Credit will be immediately accretive to earnings in 2025, and it will be a significant minority shareholder in SG Credit following the closing of the transaction. 'We are proud and excited to partner with a firm of the caliber and history of Kayne Anderson. This collaboration will not only support our growth with additional capital but also enable us to offer innovative, value-added financing solutions to a wider range of companies,' said Marc Cole, co-founder and chief executive of SG Credit, in a statement. Fenchurch Advisory Partners US LP served as financial advisor and Mayer Brown LLP as legal advisor to KBDC. Solomon Partners served as financial advisor and Greenberg Traurig LLP and Brenner, Saltzman & Wallman LLP as legal advisors to SG Credit. Information for this article was sourced from Kayne Anderson BDC.


Newsweek
12 minutes ago
- Newsweek
Ford's New Assembly Line Design is Key to Lowering Vehicle Costs
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Ford tore up the moving assembly line concept and designed a better one, the company's CEO Jim Farley explained to a crowd gathered at Louisville Assembly Plant in Kentucky for Ford's announcement that a new, lower-cost electric truck is coming to market in 2027. "One of the first things we did was bring in manufacturing expertise directly from our teams in Dearborn. That was incredibly important [it] set the baseline of what the architecture of the products would be off the platform. [It is a] marriage of both worlds, in terms of the expertise of 122-year-old company with massive capabilities and supply chain and industrialization in general," Alan Clarke, Ford's executive director of advanced EV development, told Newsweek. "[It] was really important to not only engage early, but also ensure that the ideas were able to fail fast. That's a startup mentality. When you're moving quickly, you want to really quickly determine: Is this actually more efficient? Does it actually save us money? Do we still deliver what we need to the customer in order to effectively make the product?" he said. The formula for the new assembly line structure, the Ford Universal EV Production System, starts with the new Ford Universal EV Platform. That platform underpins future battery-electric vehicles and is the result of a California-based skunkworks operation that was designed and enabled to break Ford's timeline, agility and product development norms. F-150 Lightning trucks coming down an assembly line. F-150 Lightning trucks coming down an assembly line. Ford Motor Company Instead of a traditional snaking assembly line structure, Ford's Louisville plant, which expanded 52,000 square feet as part of the effort, will feature an "assembly tree." That tree will include three sub-assemblies that run down their own separate assembly lines in unison, then join together at the end. "There's been a lot of work in the last three years on AI, on plants, and we're doing that and putting that into the system too. You've seen some of that already, but then we've also taken to this new platform, what we're able to do and add to that. So again, it's a win, win on both sides," a Ford spokesperson said. As part of the vehicle building shift, single-piece aluminum unicastings will replace dozens of smaller parts. This will allow the front and rear of the vehicle to be assembled separately. Additionally, less parts means fewer opportunities for failures that result in recalls, a business element that Ford has continuously struggled with during Farley's tenure, costing the company billions. "Elegant, simple designs are ultimately what enable low-cost: deletion of parts, deletion of process.... There's a lot of innovation of powertrain, in how we put the whole product together," the spokesperson said. Under the new assembly plan, Ford's assembly line workers on the third branch of the line put together the battery, seats, consoles and carpeting. Parts travel down the assembly tree to operators, further simplifying operations, in kit form with all fasteners, scanners and power tools included, in the order in which they are intended to be used. The team has further optimized the assembly line and order of operations for building the vehicle to improve the ergonomics for employees, reducing twisting, reaching and bending. Ford estimates that this new way of assembling vehicles will be 40 percent faster than the current assembly time of the Ford Escape. Some of that time, Ford says, will be yielded back to the company for other tasks, with an ultimate net speed improvement of 15 percent. It takes 20 hours to build one Ford Escape today.

Epoch Times
43 minutes ago
- Epoch Times
Intel ‘Engaging With' White House After Trump Calls for CEO to Resign Over China Portfolio
Intel's new CEO Lip-Bu Tan, a long-term chip executive and prolific investor, came under scrutiny for his investments in China's largest chip companies. Intel's CEO Lip-Bu Tan on Aug. 7 said the company is engaging with the Trump administration after President Donald Trump called for Tan's resignation over his alleged ties to Chinese companies with military backgrounds. Tan, a chip veteran and prolific investor, took the reins of Intel in March as the embattled chipmaker tries to regain territory from its competitors. Trump on Aug. 7 called for Tan's immediate resignation, after Senate Intelligence Committee Chairman Tom Cotton (R-Ark.) raised concerns over Tan's history of investing in Chinese companies, including those with alleged ties to the People's Liberation Army (PLA), via Walden International; and over his tenure at Cadence Design Systems, which pleaded guilty in July to unauthorized selling of controlled chip design tools to a Chinese military university between 2015 and 2021, when Tan was CEO of the company. Story continues below advertisement In a statement , Tan said he 'fully share[s] the President's commitment to advancing U.S. national and economic security.' The executive said that there has been 'a lot of misinformation' about his past roles at Walden International and Cadence Design Systems, and that Intel is 'engaging with the Administration to address the matters that have been raised and ensure they have the facts.' In a separate statement , Intel said the company, its board of directors, and Tan are 'deeply committed to advancing U.S. national and economic security interests and are making significant investments aligned with the President's America First agenda.' Tan, 65, a naturalized U.S. citizen, is an ethnic Chinese born in Malaysia. He was educated in Singapore and the United States and has been a U.S. resident for more than 40 years. The long-term tech investor sat on the board of Intel for two years before stepping down in August 2024. He rejoined the board and was appointed CEO in March. Story continues below advertisement As founder and chairman of Walden International, a California-based venture capital firm that described itself as 'one of the pioneers in venture investing in China,' he was also a board member of multiple Chinese companies, including state-backed chipmakers Semiconductor Manufacturing International Corporation (SMIC) and Advanced Micro-Fabrication Equipment (AMEC), and tech conglomerate Sina. SMIC, a partially state-owned semiconductor foundry company, was blacklisted by multiple U.S. departments, including the U.S. Department of Defense (DOD), as a Chinese military company. According to a July 2020 statement , Tan, who, at the time, had been a SMIC board member for 18 years, said Walden International was 'the founding shareholder and close partner of SMIC at its founding in 2000.' Walden no longer holds a stake in SMIC. AMEC, also partially state-owned, was designated by the DOD as a Chinese military company in 2021 and removed from the list in December 2024. Story continues below advertisement Tan was an AMEC board member between February 2005 and April 2020, his LinkedIn profile shows. According to Wirescreen , which provides open-source intelligence on companies' links to China, Tony Zhang, a managing partner of Walden International, is currently on the board of AMEC. In a report published in 2024, the House Select Committee on CCP, which investigated five U.S. venture capital firms, including Walden International, said U.S. investments had been 'critical to the early growth and success' of some of China's 'largest and most notorious AI and semiconductor companies, many of which are now blacklisted by the U.S. government over national security concerns,' and many of which are backed by the Chinese regime. According to the report, SMIC, China's largest chip foundry, and its affiliates, received $125 million in early investment from Walden. Story continues below advertisement The committee said the firms have also invested in Chinese companies that are blacklisted by the U.S. government for supporting genocide or other human rights abuses or for supporting the Chinese military. It's unclear whether Walden has divested from these companies. Intel and the White House did not respond to The Epoch Times's request for comment by publication time.