Latest news with #MarkPorter
Yahoo
4 days ago
- Business
- Yahoo
High Wire Networks Announces Reverse Stock Split
BATAVIA, Ill., May 30, 2025 (GLOBE NEWSWIRE) -- High Wire Networks, Inc. (OTCQB: HWNI), a global provider of managed cybersecurity services, today announced that its board of directors has determined to effect a one-for-250 reverse stock split of the Company's common stock, par value $0.0001 per share (the 'Common Stock'). Mark Porter, High Wire Networks CEO commented, 'This is an important and essential step in our ongoing efforts to become listed on a major exchange. Inclusive of increasing our stock price, it also better positions the Company to meet several requirements as set out by Nasdaq, while more closely reflecting the true value of our stock to the market. We look forward to continuing the pursuit to list on the Nasdaq and to providing updates to shareholders on our progress.' The reverse stock split will take effect at market open on Monday June, 2, 2025 on the OTCQB market. The CUSIP number of 42981W203 will be assigned to the Company's Common Stock when the reverse stock split becomes effective. When the reverse stock split becomes effective, every 250 of the Company's issued shares of Common Stock will be combined into one issued share of Common Stock, without any change to the par value per share. This will reduce the number of outstanding shares of Common Stock from approximately 251,151,117 million shares to approximately 1,004,604 million shares. No fractional shares will be issued in connection with the reverse stock split. Stockholders who would otherwise hold a fraction of a share of Common Stock of the Company will automatically be entitled to receive an additional fraction of a share of Common Stock to round up to the next whole share. The reverse stock split ratio approved by the board of directors is within the previously disclosed range of ratios for a reverse stock split disclosed in the Company's Information Statement filed on February 10, 2025. About High Wire NetworksHigh Wire Networks, Inc. (OTCQB: HWNI) is a fast-growing, award-winning global provider of managed cybersecurity. Through over 200 channel partners, it delivers trusted managed services for more than 1,100 managed security customers worldwide. End customers include Fortune 500 companies and many of the nation's largest government agencies. The company's Overwatch by High Wire Networks™ platform offers a range of subscription services for threat prevention, detection, and response, meeting the security and compliance requirements of organizations large and small. The company's IT enablement services provide the foundation for growing its higher-margin Overwatch business. High Wire was recently ranked by Frost & Sullivan as a Top 12 Managed Security Service Provider in the Americas. It was also named to CRN's MSP 500 and Elite 150 lists of the nation's top IT managed service providers. Learn more at Follow the company on X, view its extensive video series on YouTube or connect on LinkedIn. Forward-Looking StatementsThe above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as 'anticipate,' 'appear,' 'believe,' 'could,' 'estimate,' 'expect,' 'hope,' 'indicate,' 'intend,' 'likely,' 'may,' 'might,' 'plan,' 'potential,' 'project,' 'seek,' 'should,' 'will,' 'would,' and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all 'forward- looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations. Company ContactMark Porter, CEOHigh Wire NetworksTel +1 (952) 974-4000 Media RelationsLori AlemanDirector of MarketingHigh Wire NetworksO: 630-635-8477 | C: 602-920-0902Email:
Yahoo
4 days ago
- Business
- Yahoo
High Wire Networks Announces Reverse Stock Split
BATAVIA, Ill., May 30, 2025 (GLOBE NEWSWIRE) -- High Wire Networks, Inc. (OTCQB: HWNI), a global provider of managed cybersecurity services, today announced that its board of directors has determined to effect a one-for-250 reverse stock split of the Company's common stock, par value $0.0001 per share (the 'Common Stock'). Mark Porter, High Wire Networks CEO commented, 'This is an important and essential step in our ongoing efforts to become listed on a major exchange. Inclusive of increasing our stock price, it also better positions the Company to meet several requirements as set out by Nasdaq, while more closely reflecting the true value of our stock to the market. We look forward to continuing the pursuit to list on the Nasdaq and to providing updates to shareholders on our progress.' The reverse stock split will take effect at market open on Monday June, 2, 2025 on the OTCQB market. The CUSIP number of 42981W203 will be assigned to the Company's Common Stock when the reverse stock split becomes effective. When the reverse stock split becomes effective, every 250 of the Company's issued shares of Common Stock will be combined into one issued share of Common Stock, without any change to the par value per share. This will reduce the number of outstanding shares of Common Stock from approximately 251,151,117 million shares to approximately 1,004,604 million shares. No fractional shares will be issued in connection with the reverse stock split. Stockholders who would otherwise hold a fraction of a share of Common Stock of the Company will automatically be entitled to receive an additional fraction of a share of Common Stock to round up to the next whole share. The reverse stock split ratio approved by the board of directors is within the previously disclosed range of ratios for a reverse stock split disclosed in the Company's Information Statement filed on February 10, 2025. About High Wire NetworksHigh Wire Networks, Inc. (OTCQB: HWNI) is a fast-growing, award-winning global provider of managed cybersecurity. Through over 200 channel partners, it delivers trusted managed services for more than 1,100 managed security customers worldwide. End customers include Fortune 500 companies and many of the nation's largest government agencies. The company's Overwatch by High Wire Networks™ platform offers a range of subscription services for threat prevention, detection, and response, meeting the security and compliance requirements of organizations large and small. The company's IT enablement services provide the foundation for growing its higher-margin Overwatch business. High Wire was recently ranked by Frost & Sullivan as a Top 12 Managed Security Service Provider in the Americas. It was also named to CRN's MSP 500 and Elite 150 lists of the nation's top IT managed service providers. Learn more at Follow the company on X, view its extensive video series on YouTube or connect on LinkedIn. Forward-Looking StatementsThe above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as 'anticipate,' 'appear,' 'believe,' 'could,' 'estimate,' 'expect,' 'hope,' 'indicate,' 'intend,' 'likely,' 'may,' 'might,' 'plan,' 'potential,' 'project,' 'seek,' 'should,' 'will,' 'would,' and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all 'forward- looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations. Company ContactMark Porter, CEOHigh Wire NetworksTel +1 (952) 974-4000 Media RelationsLori AlemanDirector of MarketingHigh Wire NetworksO: 630-635-8477 | C: 602-920-0902Email: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Europe's chemical recycling requires over €400 billion in cumulative capex to compete with virgin plastics production - who will lead?
LONDON, May 27, 2025 /PRNewswire/ -- Despite impending mandates and ambitious corporate targets, chemical recycling in Europe remains nascent today mostly due to unattractive economics. A new report published by Bain & Company revealed that the industry is worth over €400 billion in cumulative capex and cost parity with virgin plastics production could be achieved in 20-30 years. Plastics companies now have a window of opportunity to be early movers and reap material benefits. Recycling polyolefins—a common type of thermoplastics—in Europe costs more than twice as much as producing virgin polyolefins today. Market forces alone are insufficient to drive change as customer demand is highly price sensitive and volumes are too limited to generate substantial cost benefits. Policy could play a significant role to close the supply-demand gap. Like the sustainable diesel and aviation fuel mandates, European plastic companies could start small and gradually increase recycled material blending requirements, the report said. For instance, country-level or regional blending mandates that increase chemical recycling market penetration by 1–2% annually could unlock over 15% share of the plastics market by 2040. This pathway can deliver a smooth ramp-up with manageable capital requirements, healthy returns, and minimal margin erosion or unintended substrate switching. Longer term, maturing technologies and accumulated operational experience will unlock cost efficiencies, eventually closing the gap with virgin plastics. The industry is developing technologies across the recycling process, from waste sorting to pre-treatment of waste. "Our analysis shows that chemical recycling could become competitive with virgin production once cumulative global volume reaches 650 million metric tons of polyolefins recycled through pyrolysis, assuming a virgin price of €1,250 per metric ton and depending on gate fees and broader market conditions," said Mark Porter, head of Bain & Company's global Chemicals practice. "This would take at least 20 to 30 years and by then recycled plastic would account for approximately 20-30% of total plastic demand." Getting to cost parity with marginal producers in Europe would require cumulative global capital expenditures of at minimum €400 billion in a base case, at a cumulative cost premium of approximately €270 billion. That premium includes the sum of price premiums that would be paid by customers, regulatory mechanisms, and margin investment by the value chain. "Moving the needle will require a systems approach with regulatory support. Once scale reaches critical mass, chemical recycling can transition from a subsidy-reliant push to a demand-driven pull. That inflection point could fundamentally shift the economics, turning chemical recycling into a competitive, market-driven solution," said Porter. The report outlines three strategies for plastics producers to become chemical recycling leaders. First, companies need to proactively co-create offtake opportunities in close collaboration with value chain partners while setting themselves up for long-term advantage. Early movers can lock in premium waste streams and serve high-value customers, creating a virtuous cycle of scale and performance. These positions are hard to replicate once established. Second, leading companies should actively engage with regulators on policy levers that are critical to their businesses and help to materialize them. Reframing public dialogue and perception around the role of plastics is equally important, highlighting both the performance benefits and the sustainability potential of plastics when managed responsibly. Lastly, producers must be willing to be flexible and rewrite their playbooks. Leaders will experiment with new business models, novel sourcing strategies, and unconventional partnerships. That could mean forming 10-year offtake agreements with dynamic pricing mechanisms—the kind of creative moves that may be invisible from the outside but lay the groundwork for future advantage. Media contact:Ann Lee (Singapore) — Gary Duncan (London) — Dan Pinkney (Boston) – About Bain & Company Bain & Company is a global consultancy that helps the world's most ambitious change makers define the future. Across 65 cities in 40 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today's urgent challenges in education, racial equity, social justice, economic development, and the environment. We earned a platinum rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, putting us in the top 1% of all companies. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry. View original content to download multimedia: SOURCE Bain & Company Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
23-05-2025
- Business
- Zawya
US new home sales unexpectedly rise in April
Sales of new U.S. single-family homes unexpectedly increased in April as builders lowered prices to lure buyers, but rising mortgage rates and an uncertain economic outlook remain constraints for the housing market. New home sales surged 10.9% to a seasonally adjusted annual rate of 743,000 units last month, the Commerce Department's Census Bureau said on Friday. The sales pace for March was revised down to a rate of 670,000 units from the previously reported 724,000 units. Economists polled by Reuters had forecast new home sales, which make up about 14% of U.S. home sales, declining to a rate of 693,000 units. (Reporting by Lucia Mutikani; Editing by Mark Porter)
Yahoo
22-05-2025
- Business
- Yahoo
Startup Anthropic says its new AI model can code for hours at a time
(Reuters) -Artificial intelligence lab Anthropic on Thursday unveiled its latest top-of-the-line technology, Claude Opus 4, which it says can write computer code autonomously for hours at a time. The startup, backed by Google and has distinguished its work in part by building AI that excels at coding. It also announced the AI model Claude Sonnet 4, Opus's smaller and more cost-effective cousin. (Reporting By Jeffrey Dastin in San Francisco; Editing by Mark Porter)
