Latest news with #Securities
Yahoo
4 days ago
- Business
- Yahoo
Hawthorn Bancshares Announces New Common Stock Repurchase Program
JEFFERSON CITY, Mo., June 05, 2025 (GLOBE NEWSWIRE) -- Hawthorn Bancshares, Inc. (NASDAQ: HWBK), (the 'Company'), the bank holding company for Hawthorn Bank, announced that its Board of Directors approved a new common stock repurchase program authorizing the repurchase of up to $10.0 million in market value of the Company's common stock. The new common stock repurchase program replaces the Company's prior common stock repurchase program. Management was given discretion to determine the number and pricing of the shares to be purchased, as well as, the timing of any such purchases. The timing and total amount of stock repurchases will depend upon market and other conditions and may be made from time to time in open market purchases or privately negotiated transactions. The program has no termination date, may be suspended or discontinued at any time and does not obligate the Company to acquire any amount of common stock. The repurchased shares will be held in treasury and may be used by the Company for general corporate purposes, including stock-based employee benefit plans and stock dividends. It is expected that the stock repurchases will be funded by cash generated through cash on hand, operations and other sources. At June 3, 2025, the Company had 6,946,656 common shares outstanding. About Hawthorn Bancshares, Inc. Hawthorn Bancshares, Inc., a financial-bank holding company headquartered in Jefferson City, Missouri, is the parent company of Hawthorn Bank, which has served families and businesses for more than 150 years. Hawthorn Bank has multiple locations, including in the greater Kansas City metropolitan area, Jefferson City, Columbia, Springfield, and Clinton. Contact: Hawthorn Bancshares, M. Giles Chief Executive OfficerTEL: Statements made in this press release that suggest Hawthorn Bancshares' or management's intentions, hopes, beliefs, expectations, or predictions of the future include "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those projected in such forward-looking statements is contained from time to time in the company's quarterly and annual reports filed with the Securities and Exchange Commission. These forward-looking statements are made as of the date of this communication, and the Company disclaims any obligation to update any forward-looking statement or to publicly announce the results of any revisions to any of the forward-looking statements included herein, except as required by law.
Cision Canada
29-05-2025
- Business
- Cision Canada
Perimeter Announces Pricing of Public Offering of Units
TORONTO and DALLAS, May 29, 2025 /CNW/ - Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTCQX: PYNKF) (" Perimeter" or the " Company"), a commercial-stage medical technology company, is pleased to announce the pricing and terms of its previously announced public offering. The offering is of units of the Company (" Units") or pre-funded units of the Company in lieu of Units (" Pre-Funded Units" and, together with the Units, the " Securities") (the " Offering"). The Offering is being conducted on a reasonable "best efforts" agency basis for the issuance of a minimum of 8,333,334 Securities at a price of $0.30 per Unit or $0.29999 per Pre-Funded Unit for gross proceeds of at least $2,500,000 with expected participation from healthcare focused U.S. institutional investors as well as participation from one or more control persons of the Company. Each Unit will consist of one common share (each, a " Common Share") and one common share purchase warrant (each, a " Warrant"). Each Pre-Funded Unit issued in lieu of a Unit at the election of any purchaser will consist of one pre-funded warrant (each, a " Pre-Funded Warrant") and one Warrant. Each Warrant will entitle the holder thereof to purchase one Common Share (each, a " Warrant Share") at an exercise price of $0.35 per Warrant Share at any time until 5:00 p.m. (Toronto time) on the date that is 60 months following the Closing Date (as defined herein), subject to adjustment in certain events. The Company intends to use the net proceeds from the Offering to continue the commercialization of its technology, establish clinical evidence and continue product development. The Company also intends to use the net proceeds for working capital and other general corporate purposes. A.G.P. Canada Investments ULC ("Agent") is acting as the sole bookrunner and agent for the Offering and A.G.P./Alliance Global Partners is acting as sole U.S. placement agent for the Offering. The Offering is expected to be completed pursuant to the terms and conditions of an agency agreement to be entered into between the Company and the Agent. The Company will file a final short form prospectus (the " Final Prospectus") with the securities regulatory authorities in the provinces of Alberta, British Columbia and Ontario. There will not be any sale of Securities until a receipt for the Final Prospectus has been issued. The initial tranche of the Offering is expected to close on or about June 3, 2025, or such other date as may be mutually agreed to by the Company and the Agent (the " Closing Date"). The Company may close additional tranches of the Offering following the Closing Date for total gross proceeds of up to $15,000,000 (inclusive of the initial closing). The Offering is subject to the satisfaction of customary closing conditions, including the receipt of all necessary regulatory and stock exchange approvals, including approval of the TSX Venture Exchange (the " TSXV"). The Company will pay to the Agent a cash fee equal to 7.0% of the gross proceeds raised under the Offering, and grant the Agent compensation options equal to 5.0% of the aggregate number of Securities issued under the Offering (the " Compensation Options"). Each Compensation Option shall entitle the Agent to buy one Common Share at the same price as the price per Unit under the Offering. The Compensation Options shall be exercisable until that date which is 36 months following the Closing Date. The Agent will receive a reduced cash commission of 3.5% and Compensation Options equal to 2.5% in respect of Securities sold to certain purchasers on a president's list to be agreed to between the Company and the Agent. In addition, the Agent will receive no cash commission or Compensation Options with respect to sales to certain insiders of the Company. In addition, the Securities are anticipated to be offered by way of private placement in certain jurisdictions outside of Canada pursuant to and in compliance with applicable securities laws. For further details with respect to the Offering, please see the amended and restated preliminary short form prospectus dated April 15, 2025 (the " A&R Prospectus") and the Final Prospectus, copies of which are or will be available on the Company's SEDAR+ profile at This press release is not an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act"), and such securities may not be offered or sold to, or for the account or benefit of, persons in the United States or U.S. persons absent registration or an applicable exemption from U.S. registration requirements. "United States" and "U.S. persons" have the meanings ascribed to them in Regulation S under the U.S. Securities Act. Access to the A&R Prospectus and Final Prospectus and any amendments to such documents will be provided in accordance with securities legislation relating to procedures for providing access to a short form prospectus and any amendment thereto. The A&R Prospectus is, and the Final Prospectus will be, accessible on SEDAR+ at Alternatively, an electronic or paper copy of the A&R Prospectus and the Final Prospectus (when filed), and any amendment to such documents may be obtained without charge, from A.G.P. Canada, 5063 North Service road, Suite 100, Office 74, Burlington, Ontario L7L 5H6, by email to [email protected] attention: Investment Banking and by providing the contact with an email address or address, as applicable. The A&R Prospectus and the Final Prospectus (when filed) contain important, detailed information about the Company and the Offering. Prospective investors should read the A&R Prospectus and the Final Prospectus (when filed) before making an investment decision. About Perimeter Medical Imaging AI, Inc. Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSX-V: PINK) (OTCQX: PYNKF) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that is currently being evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas. The Company's ticker symbol "PINK" is a reference to the pink ribbons used during Breast Cancer Awareness Month. Perimeter B-Series OCT is limited by U.S. law to investigational use and not available for sale in the United States. Perimeter S-Series OCT has 510(k) clearance under a general indication and has not been evaluated by the U.S. FDA specifically for use in breast tissue, breast cancer, other types of cancer, margin evaluation, and reducing re-excision rates. The safety and effectiveness of these uses has not been established. For more information, please visit Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. In this news release, words such as "may," "would," "could," "will," "likely," "believe," "expect," "anticipate," "intend," "plan," "estimate," and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management's future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, taxes and plans and objectives of, or involving, Perimeter. Without limitation, statements regarding the anticipated terms and jurisdictions of the Offering; securities offered thereunder; the timing of the Offering, including the anticipated Closing Date; use of proceeds from the Offering; fees anticipated to be paid to the Agent and terms thereof; regulatory and exchange approvals, including the listing of the Common Shares offered pursuant to the Offering on the TSXV, are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter's control. Such forward-looking statements reflect Perimeter's current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter's financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter's Annual Information Form for the year ended December 31, 2024, which is available on Perimeter's SEDAR+ profile at and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws. Contacts Stephen Kilmer Investor Relations Direct: 647-872-4849 Email: [email protected] Adrian Mendes Chief Executive Officer Toll-free: 888-988-7465 (PINK) Email: [email protected] 529266508v.6 SOURCE Perimeter Medical Imaging AI Inc.
Global News
28-05-2025
- Business
- Global News
Will Trump's budget bill tax Canadians more? What to know about fears
Canadians who invest or own property in the U.S. could soon pay more in taxes if President Donald Trump gets his proposed new spending bill passed by the Senate. And everyday Canadians, as well as seasoned investors, could be affected. Not to be confused with Trump's tariff policies, his administration's so-called 'Big, Beautiful, Bill' contains a large amount of tax amendments, with many aimed at nations with what Trump deems 'unfair' foreign tax regimes. Although specific countries are not mentioned in the bill, there is growing concern being expressed by experts that the wording could let Trump target Canada, among other nations. 'If that happens, that would not be great for Canadian investors in U.S. companies because we could face taxes up to 50 per cent as well as Canadian taxes on owning U.S. Securities,' says cross-border investment adviser Joe Macek at IA Private Wealth. Story continues below advertisement 'Right now we have a tax treaty with America and we are not double taxed on many of our pension plans. This would include RSPs, pension plans, and those things that have that tax-treaty privilege, that could be affected.' What are the proposed changes? If Canada is included in the potential tax changes, then investors who see income generated from holdings in the United States should expect to pay more to receive those funds. This may include dividends generated from some equities like U.S. stocks, which are a common part of many people's retirement investment portfolios. A dividend is a form of investment income where a company that offers stock to the public for purchase pays those shareholders additional money depending on the company's performance, and usually every quarter or three-month period. 1:59 Trump threatens more tariffs for Apple, Samsung if smartphones not made in U.S. For example, Apple's stock is worth approximately $200 USD as of Wednesday morning with the current dividend rate set at $0.26 per share. Story continues below advertisement That dividend payment is what would be considered income by this proposed tax amendment if it is being paid to an individual or business based outside of the U.S, like in Canada. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy If an individual has 50 shares valued at about $10,000 in total, that means they will be paid $13 USD every quarter as long as they keep their Apple stock. The current tax owed on U.S. income such as a dividend is 15 per cent under the taxation treaty between Canada and the U.S. If this scenario involves a Canadian investor in Apple, then that $13 dividend example means they would owe $1.95 in taxes each time the dividend is paid out. However, under these new tax proposals in Trump's bill, that figure would increase by five per cent each year starting in January 2026 to a total of 50 per cent tax after seven years. 2:06 Snowbird sell-off: New travel requirements, Trump's rhetoric pushing some Canadians out of U.S. Another example of investment income could be from real estate. Story continues below advertisement For example, if a Canadian individual or business owns rental property in the U.S., the monthly rent paid by tenants to those owners would also be subject to these new potential increases. 'Basically all U.S. taxes paid by foreigners are going up five per cent a year,' says cross-border tax lawyer Max Reed at Polaris Tax Council. 'Foreign businesses that operate in the United States are really affected too, including big Canadian multinationals with U.S. subsidiaries.' Canadians may also see their retirement portfolios impacted if this bill gets passed, as Reed explains, 'Canadian pensions like CPP, teachers, and down from there are mostly all exempt from U.S. tax on a bunch of their U. S. income, and that's getting turned off if the Trump administration applies this, so all of a sudden they will start having some U.S. tax exposure.' What's behind the proposed change? As for the motivation behind the tax changes in Trump's spending bill, Reed notes, 'It's really easy to link it to the tariffs…it's the same ideology.' Story continues below advertisement Although Trump has shown that he is willing to negotiate on tariffs, the same may not be the case for these new tax laws if passed. 'The implications are going to get a slow burn. And so I think that that makes it a lot more likely to stick than the tariffs, which are just so acute and so shocking,' says Reed. Reed said while the U.S. does not name Canada, it does refer to any foreign country that imposes a form of digital services tax on U.S. companies — which Canada does. Canada's digital services tax requires foreign tech giants to pay three-per cent tax 'on certain revenue earned from engaging with online users in Canada if they meet certain conditions,' according to the federal government's webpage about the tax. While the news of potential higher taxes may have many Canadians worrying about their retirements or investments, Macek says the best thing to do right now is keep calm and watch what happens next. 'Panic buying and panic selling I don't think has ever served any investor well,' he said. 'Right now, the bill has not passed. So the short answer is: do nothing, and stay patient.'
Globe and Mail
28-05-2025
- Business
- Globe and Mail
Zacks Industry Outlook Highlights Intercontinental Exchange, CME Group, Nasdaq and Cboe Global Markets
For Immediate Release Chicago, IL – May 28, 2025 – Today, Zacks Equity Research discussesIntercontinental Exchange ICE, CME Group CME, Nasdaq Inc. NDAQ and Cboe Global Markets CBOE. Industry: Securities & Exchanges Link: A compelling and diversified product portfolio helps drive the revenues of Zacks Securities and Exchanges industry players. A rise in trading volumes, product expansion through prudent acquisitions and the increased adoption of a greater number of crypto assets are expected to benefit Intercontinental Exchange, CME Group, Nasdaq Inc. and Cboe Global Markets. Increased focus on accelerating their non-trading revenue base, which comprises market technology, listing and information revenues, infuses dynamism in the business profile of the industry players. Given his crypto favoritism, the industry is expected to get an impetus from Trump's second term. The sector is also witnessing increased retail trading. However, alterations in investment patterns and priorities and compliance with regulations pose challenges. With the increasing digitization of financial markets, cyber threats and data breaches continue to pose serious risks. About the Industry The Zacks Securities and Exchanges industry comprises companies that operate electronic marketplaces, which facilitate the buying and selling of stocks, stock options and bonds or commodity contracts. The companies facilitate trading across a diverse range of products in multiple asset classes and geographies. The companies generate revenues from fees received from the listed companies on their exchanges. They also provide a range of data and listing services to global financial and commodity markets, including pricing and reference data, exchange data, analytics, feeds, index services, investments, risk management, desktops, and connectivity solutions, as well as corporate and ETF listing services, on the cash equity exchanges of the industry players. The industry is witnessing increased adoption of crypto assets. Yet, industry players have to comply with a number of regulations 3 Trends Shaping the Future of the Securities and Exchanges Industry Volatility Fueling Trading Volume: The players in the industry are largely dependent on product and service portfolios for revenues. Major services include trade execution, clearing, settlement services for securities and commodity contracts, listing services plus trading, and clearing systems services. Sustainable trading volume growth, driven by trading volatility, fuels transaction and clearing fees (a major component of the top line of industry players). With Trump's second term, a pro-crypto environment and easing regulatory control, trading is expected to increase, which should drive higher fees. The maximization of transaction and clearing fees and the lowering of transaction-based expenses drive profits. Other revenue sources include data products and financial indexes, along with information and public company services. Increasing focus on accelerating the non-trading revenue base, which includes market technology, listing and information revenues, infuses dynamism in the business profiles of the industry participants. Per technavio, the securities exchanges market in 2028 is expected to reach $49.6 billion at a five-year CAGR of 12.1%, given increasing demand for various investment opportunities. Also, the increased adoption of cryptocurrencies like Bitcoin and Ethereum, among others, is a boon. Mergers and acquisitions: The industry is witnessing a continued surge in mergers and acquisitions, as companies aim to boost their organic growth through strategic partnerships or the acquisition of complementary businesses and technologies. These initiatives enable organizations to break into untapped markets, launch new products or services and enhance the value of their platforms and trade-related activities. Reports indicate that stablecoin issuer Circle is exploring a possible sale to either COIN or Ripple. In a recent move, COIN agreed to acquire Deribit, reinforcing its foothold in the derivatives segment. Such strategic buyouts are instrumental in broadening product portfolios—an essential driver of growth—and support companies in maintaining domestic market share while extending their global reach. Deloitte notes that exchanges are also turning to consolidation in response to shifting technological, legal, and competitive dynamics. Continuous Investment in Technology: Industry players continue to invest heavily in technological development. Focus on building a strategic economic market model via technological advancements and upgrades of products and services, AI in particular, will help all exchanges stay afloat amid changing industry dynamics. They are increasingly integrating artificial intelligence (AI) and blockchain technology. In recent years, the players have launched a number of innovative technologies that rely on machine learning, automation and algorithms designed to improve trading decisions while reducing trading inefficiencies, cyber threats and human errors, thus accelerating trading frequency. Players are also investing in automating non-trading operations that have an important part in revenue generation for the companies. Zacks Industry Rank Indicates Bright Prospects The Zacks Securities and Exchanges industry is housed within the broader Zacks Finance sector. It carries a Zacks Industry Rank #10, which places it in the top 4% of the 251 Zacks industries. The group's Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, reflects encouraging near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1. The industry's positioning in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts have been gaining confidence in this group's earnings growth potential. Estimates for 2025 have increased 8.5% in a year. Before we present a few securities and exchanges stocks worth considering for your portfolio, let's take a look at the industry's recent stock-market performance and valuation picture. Industry Outperforms Sector and S&P 500 The Zacks Securities and Exchanges industry has outperformed the broader Zacks Finance sector as well as the Zacks S&P 500 composite year to date. The industry has gained 17.3% compared with the broader sector's increase of 3.9%. In contrast, the Zacks S&P 500 composite has declined 1.8% in the said time frame. Industry's Current Valuation On the basis of trailing 12-month price-to-earnings (P/E), which is commonly used for valuing exchange stocks, the industry is currently trading at 24.69X compared with the S&P 500's 21.36X and the sector's 16.03X. Over the last five years, the industry has traded as high as 27.94X, as low as 19.02X and at the median of 22.45X. 4 Securities and Exchanges Stocks to Keep an Eye On We are presenting three Zacks Rank #2 (Buy) stocks and one Zacks Rank #3 (Hold) stock from the Securities and Exchanges industry. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Intercontinental Exchange: This Atlanta, GA-based company is a leading global operator of regulated exchanges, clearing houses and listings venues and a provider of data services for commodity, financial, fixed-income and equity markets. Its compelling portfolio, expansive risk-management services, strategic buyouts and a solid balance sheet bode well. It is the second-largest global fixed-income provider. This Zacks Rank #2 company, with the largest mortgage network across the United States, remains well-positioned to benefit from accelerated digitization in the U.S. residential mortgage industry. The Zacks Consensus Estimate for Intercontinental Exchange's 2025 and 2026 EPS indicates a year-over-year rise of 14.3% and 10.7%, respectively. The expected long-term earnings growth rate is pegged at 13.3%, better than the industry average of 9.8%. The consensus mark for 2025 and 2026 earnings has moved 3 cents north each in the past seven days. CME Group: Headquartered in Chicago, IL, CME Group is the largest futures exchange in the world in terms of trading volume as well as notional value traded. Efforts to expand future products in emerging markets, non-transaction-related opportunities, OTC offerings, cross-selling through alliances, strong global presence and solid liquidity should drive this company's growth. The Zacks Consensus Estimate for this Zacks Rank #2 company's 2025 and 2026 EPS indicates a year-over-year increase of 8.7% and 3.3%, respectively. It came up with a four-quarter average earnings surprise of 1.7%. The expected long-term earnings growth rate is pegged at 6.6%. The consensus mark for 2025 has moved 0.6% north in the past 30 days, while the same for 2026 earnings has witnessed no movement. Cboe Global Markets: Based in Chicago, IL, Cboe Global is one of the largest stock exchange operators by volume in the United States and globally for ETP trading. This Zacks Rank #2 stock is poised for growth, given an expanding product line across asset classes, broadening geographic reach and a diversifying business mix with recurring revenues and technology. The Zacks Consensus Estimate for the company's 2025 and 2026 EPS indicates a year-over-year increase of 9.8% and 6.2%, respectively. The expected long-term earnings growth rate is pegged at 10.5%, better than the industry average. The consensus mark for 2025 and 2026 earnings has moved 1.1% and 0.5% north in the past 30 days. It came up with a four-quarter average earnings surprise of nearly 2%. Nasdaq: Headquartered in New York, Nasdaq is a leading provider of trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services. Its strategy of accelerating its non-trading revenue base, successfully maximizing opportunities as a technology and analytics provider, and growing core marketplace businesses, as well as intensifying its focus on Market Technology and Information Services businesses, should continue to drive this Zacks Rank #3 stock. The Zacks Consensus Estimate for 2025 and 2026 earnings per share indicates an increase of 13.1% and 11.7%, respectively, year over year. NDAQ came up with a four-quarter average earnings surprise of 3.33%. The expected long-term earnings growth rate is pegged at 12.1%, better than the industry average. The consensus mark for 2025 and 2026 earnings has moved 1 cent and 3 cents north, respectively, in the past 30 days. Why Haven't You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year. Today you can access their live picks without cost or obligation. See Stocks Free >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@ Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit for information about the performance numbers displayed in this press release. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Intercontinental Exchange Inc. (ICE): Free Stock Analysis Report CME Group Inc. (CME): Free Stock Analysis Report Nasdaq, Inc. (NDAQ): Free Stock Analysis Report Cboe Global Markets, Inc. (CBOE): Free Stock Analysis Report This article originally published on Zacks Investment Research (
Business Wire
27-05-2025
- Business
- Business Wire
Lincoln Financial Announces Pricing Terms
RADNOR, Pa.--(BUSINESS WIRE)--Lincoln Financial (NYSE: LNC) (the 'Company') today announced the pricing terms for its previously announced cash tender offer (the 'Offer') for its: 4.375% Senior Notes due 2050 (the '2050 Notes'); 4.350% Senior Notes due 2048 (the '2048 Notes'); Capital Securities due 2067 (the '2067 Securities'); Capital Securities due 2066 (the '2066 Securities'); Subordinated Notes due 2067 (the '2067 Subordinated Notes'); Subordinated Notes due 2066 (the '2066 Subordinated Notes' and, collectively with the 2067 Securities, the 2066 Securities, and the 2067 Subordinated Notes, the 'Subordinated Securities'); 3.050% Senior Notes due 2030 (the '2030 Notes'); and 3.400% Senior Notes due 2032 (the '2032 Notes'). The 2050 Notes, the 2048 Notes, the Subordinated Securities, the 2030 Notes, and the 2032 Notes are collectively referred to herein as the 'Securities' and, each, as a 'Series' of Securities. Capitalized terms used but not defined herein shall have the meanings given to them in the Offer to Purchase, dated May 12, 2025, as amended by the Company's press release relating to the early results and upsizing of the Offer issued on May 27, 2025 (together, the 'Offer to Purchase'). Holders of the Securities that were validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on May 23, 2025 (the 'Early Tender Deadline') and are accepted for purchase will be eligible to receive the applicable Total Tender Offer Consideration, which includes the Early Tender Premium of $30 per $1,000 principal amount of such Securities. The applicable Total Tender Offer Consideration paid for Securities that were validly tendered and not validly withdrawn as of the Early Tender Deadline and are accepted for purchase was calculated in the manner below, as indicated in the Offer to Purchase: with respect to each Series of the Securities other than the Subordinated Securities, by reference to the applicable fixed spread specified on the front cover of the Offer to Purchase over the yield to maturity based on the bid-side price of the applicable Reference U.S. Treasury Security specified on the front cover of the Offer to Purchase; and with respect to the Subordinated Securities, by reference to the applicable fixed price specified on the front cover of the Offer to Purchase. All payments for the Securities purchased in connection with the Early Tender Deadline will also include accrued and unpaid interest on such Securities from the last interest payment date applicable to such Series of Securities to, but excluding, the early settlement date, which is currently expected to be May 29, 2025 (the 'Early Settlement Date'). The Total Tender Offer Consideration for each Series of the Securities other than the Subordinated Securities was calculated by TD Securities (USA) LLC, the lead dealer manager for the Offer, at 10:00 a.m., New York City time, today, May 27, 2025 (the 'Price Determination Date'). The following table sets forth (i) the pricing terms for the Offer and (ii) the aggregate principal amount of each Series of Securities that the Company has accepted for purchase: (1) Includes the Early Tender Premium of $30.00 per $1,000 principal amount of Securities for each Series (the 'Early Tender Premium'). (2) Rounded to the nearest hundredth of one percent. Because the aggregate purchase price of the Securities validly tendered and not validly withdrawn as of the Early Tender Deadline exceeds the Aggregate Offer Cap, the Securities will be accepted for purchase subject to the Acceptance Priority Levels and proration factors set forth in the table above and, in each case, as described in the Offer to Purchase. The Company will accept for purchase the aggregate principal amount of each Series of the Securities that were validly tendered and not validly withdrawn as of the Early Tender Deadline as set forth in the table above. The Securities that were validly tendered and not validly withdrawn as of the Early Tender Deadline and are accepted for purchase will be canceled by the Company on the Early Settlement Date and will no longer remain outstanding obligations of the Company. The Securities not accepted for purchase will be promptly credited to the account of the registered holder of such Securities with The Depository Trust Company and otherwise returned in accordance with the Offer to Purchase. Although the Offer is scheduled to expire at 5:00 p.m., New York City time, on June 10, 2025 (the 'Expiration Date'), the Company does not expect to accept for purchase any Securities that are tendered after the Early Tender Deadline and before the Expiration Date. The withdrawal rights for the Offer expired at 5:00 p.m., New York City time, on May 23, 2025 and have not been extended; therefore, previously tendered Securities may no longer be withdrawn, except in certain limited circumstances where additional withdrawal rights are required by law (as determined by the Company). The Company reserves the right, in its sole discretion, subject to applicable law, with respect to the Securities to: (i) waive any and all conditions to the Offer with respect to one or more Series of the Securities; (ii) extend or terminate the Offer with respect to one or more Series of the Securities or change the Acceptance Priority Level with respect to one or more Series of the Securities; (iii) increase the Aggregate Offer Cap without extending the Withdrawal Deadline or otherwise reinstating withdrawal rights; (iv) increase, decrease or eliminate the Sub-Cap at any time, including on or after the Price Determination Date; or (v) otherwise amend the Offer in any respect in relation to one or more Series of the Securities. Information Relating to the Offer TD Securities (USA) LLC is serving as the sole structuring advisor and lead dealer manager and BofA Securities, Inc., Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., PNC Capital Markets LLC, and Wells Fargo Securities, LLC are serving as dealer managers for the Offer. The tender and information agent for the Offer is Global Bondholder Services Corporation. Copies of the Offer to Purchase and related offering materials are available by contacting Global Bondholder Services Corporation at (855) 654‑2015 (toll-free) or (212) 430‑3774 (banks and brokers). Questions regarding the Offer should be directed to TD Securities (USA) LLC at (212) 827‑2806 (collect) or (866) 584‑2096 (toll-free). This press release shall not constitute an offer to sell, a solicitation to subscribe for or purchase, an offer to subscribe for or purchase, or a solicitation to sell any securities. The Offer is being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law. About Lincoln Financial Lincoln Financial helps people confidently plan for their vision of a successful financial future. As of December 31, 2024, approximately 17 million customers trust our guidance and solutions across four core businesses – annuities, life insurance, group protection, and retirement plan services. As of March 31, 2025, the company had $312 billion in end-of-period account balances, net of reinsurance. Headquartered in Radnor, PA, Lincoln Financial is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. Learn more at Cautionary Statement Regarding Forward-Looking Statements Certain statements made in this press release are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 (the 'PSLRA'). A forward-looking statement is a statement that is not a historical fact and, without limitation, includes any statement that may predict, forecast, indicate or imply future results, performance or achievements. Forward-looking statements may contain words like: 'anticipate,' 'believe,' 'estimate,' 'expect,' 'project,' 'shall,' 'will' and other words or phrases with similar meaning in connection with a discussion of future operating or financial performance. In particular, these include statements relating to the Company's intent to purchase the Securities in the Offer, as well as statements related to the expected timing of the actions described herein. The Company claims the protection afforded by the safe harbor for forward-looking statements provided by the PSLRA. Forward-looking statements involve risks and uncertainties. Actual results could differ materially from those expressed in or implied by such forward-looking statements due to a variety of factors, including our ability to satisfy the conditions to, and consummate, the Offer. The risks and uncertainties included herein are not exhaustive. The Company's most recent Annual Report on Form 10-K, as well as other reports that the Company files with the Securities and Exchange Commission, include additional factors that could affect future actions and our business and financial performance. Moreover, we operate in a rapidly changing and competitive environment. New risk factors emerge from time to time, and it is not possible for management to predict all such risk factors. Further, it is not possible to assess the effect of all risk factors on our businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. In addition, we disclaim any obligation to correct or update any forward-looking statements to reflect events or circumstances that occur after the date of this press release.
