The Company is rescheduling its reporting due to the recent statement issued by the Securities and Exchange Commission (the “SEC”) on April 12, 2021 …
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Stratim Cloud Acquisition Corp. Announces the Separate Trading of its Shares of Class A Common Stock and Redeemable Warrants Commencing May 3, 2021
INCLINE VILLAGE, NV, April 30, 2021 (GLOBE NEWSWIRE) — Stratim Cloud Acquisition Corp. (Nasdaq: SCAQU) (the “Company,” “us” or “our”) today announced that, commencing May 3, 2021, holders of the units sold in the Company’s initial public offering of 25,000,000 units completed on March 16, 2021, may elect to separately trade the shares of Class A common stock and redeemable warrants included in the units. Those units not separated will continue to trade on The Nasdaq Capital Market (“Nasdaq”) under the symbol “SCAQU”, and the shares of Class A common stock and redeemable warrants that are separated will trade on the Nasdaq under the symbols “SCAQ” and “SCAQW”, respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into shares of Class A common stock and redeemable warrants.
The units were initially offered by the Company in an underwritten offering. BofA Securities and Cowen acted as joint book-running managers. A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission (the “SEC”) on March 11, 2021.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor shall there be any sale of these securities 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.
The offering was made only by means of a prospectus, copies of which may be obtained for free from the SEC website at www.sec.gov or by contacting BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by emailing [email protected]; or Cowen, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, or by email at [email protected].
About Stratim Cloud Acquisition Corp.
Stratim Cloud Acquisition Corp. is a special purpose acquisition company. While the Company may pursue an initial business combination target in any industry or geographic location, it intends to focus its search on a target business operating in the technology sector.
Forward Looking Statements
This press release may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor Contact:
Sreekanth RaviChief Executive OfficerStratim Cloud Acquisition Corp.1605 Pine Cone CircleIncline Village, Nevada 89451Telephone: (775) 318-3629Email: [email protected]
Zachary AbramsChief Strategy Officer and Chief Financial OfficerStratim Cloud Acquisition Corp.1605 Pine Cone CircleIncline Village, Nevada 89451Telephone: (775) 318-3629Email: zach@stratimcloud.
[…]
Tutoring Startup Settles SEC Claims It Cooked The Books – Law360
Law360 (April 30, 2021, 3:51 PM EDT) — A 25-year-old Harvard graduate agreed Thursday to pay around $223,000 to settle a U.S. Securities and Exchange Commission suit alleging he lied to investors to raise $1 million for his floundering online tutoring business, once dubbed the “Uber of edtech startups” by Forbes.Without admitting or denying the allegations, Students of Strength Inc. and its founder and CEO, Rahsaan King, settled claims that the once-promising company broke securities laws by misrepresenting its revenue, assets and operations to more than 20 investors in convertible notes and common stock between 2017 and 2018.
[…]
Online Tutoring Firm, Founder Settle SEC False Statements Suit
The founder and CEO of online tutoring company Students of Strength Inc. agreed to pay more than $222,500 to end an SEC suit, according to federal court documents filed in Massachusetts.
Rahsaan King and his company allegedly raised $1 million from investors while falsely describing Students of Strength, which had “very few customers,” as “thriving,” the Securities and Exchange Commission told the U.S. District Court for the District of Massachusetts. The defendants didn’t admit wrongdoing as part of their settlement.
King misrepresented the company’s historical revenue, current cash flow, assets, liabilities, operations, and “the numbers of tutors hired and…
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[…]
SEC to Move ‘Promptly’ on ESG Rulemaking in 2021, Official Says
The SEC is poised to progress “promptly” on plans to require new corporate disclosures on climate change and other environmental, social, and governance issues in the coming months, a senior agency official said.
The Securities and Exchange Commission won’t wait long to act after the June 13 end of a public comment period on potential ESG regulations, John Coates, acting director of the SEC’s Division of Corporation Finance, said Friday.
The agency is soliciting feedback on a range of topics, including possible corporate disclosures on greenhouse gas emissions and risks from climate change, as well as the possibility of an ESG standard setter. The SEC has received a few dozen comments so far and likely will get many more.
SEC action on ESG is “overdue,” Coates said at a New York University conference.
“Nobody else is waiting,” he said. “The rest of the world is moving forward pretty rapidly.”
The SEC first prioritized ESG under the helm of Democratic Commissioner Allison Lee, who served as the agency’s acting chair earlier this year. Gary Gensler, who became SEC chairman this month, has made clear he’ll continue Lee’s efforts, Coates said.
“It’s great to have him on board,” Coates said. “I think his energy and experience are evidenced every time anybody ever talks to him.
[…]
SEC joins growing push for climate risk disclosure
The Securities and Exchange Commission held meetings this month with powerful K Street and Wall Street players as regulators mull new rules on corporate disclosure of climate-related risks.
Why it matters: Disclosure could soon move beyond voluntary and private-sector-led efforts to become more deeply embedded in federal regulation.
Driving the news: Recently posted SEC records show a suite of meetings in response to the commission’s March request for input.
The records show discussions with entities including the U.S. Chamber of Commerce, State Street Global Advisors, the Business Roundtable, the Edison Electric Institute, Walmart and others.
The big picture: Recent years have brought a growing push to provide investors and regulators more information about the ways climate change creates risks for many kinds of companies.
Think everything from how emissions policy and energy transition could affect fossil fuel producers, users and lenders to ways that climate change can affect physical assets and supply chains.
Catch up fast: The SEC initiative is part of a wider push among financial regulators and overseers.
Federal Reserve board member Lael Brainard recently made comments supportive of compulsory disclosure of financial institutions’ risks.
What we’re watching: Where various companies and lobbying groups come out on the topic as the SEC considers going beyond its 2010 “guidance” on the topic.
The SEC asked for input on a detailed set of questions, but written submissions are not due until mid-June (though some have arrived already).
In some, look for less of a yay-or-nay and instead input on how standards should be crafted.
“There is a broader base of support for mandatory disclosure than there has ever been before,” Steven Rothstein of the sustainable investment advocacy group Ceres tells Axios.
[…]
DOL’s Khawar Previews Reg Plans; SEC Enforcement Chief Steps Down
The Department of Labor will revisit Prohibited Transaction Exemption 2020-02 and the rules on Financial Factors in Selecting Plan Investments and proxy voting issued in the final weeks of the Trump administration, DOL Acting Assistant Secretary Ali Khawar confirmed April 29.Speaking at an American Savings Education Council meeting on savings considerations for minorities in America, the Acting Assistant Secretary for the Labor Department’s Employee Benefits Security Administration provided a preview on upcoming regulatory guidance.
Fiduciary Rulemaking
Khawar explained that after meeting with numerous stakeholders at the beginning of the Biden administration, a conclusion was reached that they would allow PTE 2020-02 to go into effect, with the current period serving as a “runway” through mid-December before people really need to be in full compliance.
Khawar noted that the department’s current area of focus is to put out guidance as soon as possible addressing incoming questions and issues identified for the department. “As people are starting up systems and taking other steps to come into compliance and fully implement that exemption, we want to make sure that they have the benefit of our thinking earlier in the process, because I can envision any number of scenarios where we might put out guidance in December, but unquestionably, it’s more helpful to people the earlier in that runway period we put out guidance,” he said.
Khawar reiterated that the DOL’s February announcement also made clear that they do not believe their work is done. “The other things that we’re looking at are the question of whether there is really a level playing field right now, because that, of course, is one of the things the Trump administration didn’t do is to amend the other preexisting exemptions, which investment advisors can also take advantage of,” Khawar explained. “And so, that’s one set of issues we’re thinking about—to what extent other changes are needed to the other preexisting exemptions, and then, of course, it probably goes without saying, but the rule itself and defining who is a fiduciary is another area of focus for us.”
ESG and Proxy Voting
In reiterating the March announcement that the DOL will not enforce the final rules on Financial Factors in Selecting Plan Investments and Fiduciary Duties Regarding Proxy Voting and Shareholder Rights, Khawar confirmed that there’s more to come.
In doing outreach on the financial factors’ regulation and the pecuniary versus non-pecuniary issues, Khawar notes that one of the things that they consistently heard in talking to consumer groups, service providers, plan sponsors and other stakeholder groups was that the Trump administration rule had a “chilling effect” on investment behavior. This was true, he said, even in circumstances that appear to be squarely within the realm of the kinds of activities the rules said were appropriate to consider in making investment decisions.
“The atmospherics around this rule really are giving fiduciaries pause and wondering whether they were exposing themselves to excessive liability by taking these kinds of factors into account, even when it was being viewed just as a financial factor, not as a kind of collateral issue that they were trying to promote,” Khawar explained. He noted that the department is continuing to conduct stakeholder outreach, which will ultimately lead to additional rulemaking in the not-too-distant future.
Cybersecurity Best Practices
Regarding the DOL’s recent cybersecurity guidance outlining best practices and tips for participants, service providers and sponsors, Khawar explained that they didn’t establish standards in this guidance, but thought it was important to share best practices the department would like to see in terms of what each stakeholder group should be doing. For example, Khawar noted, best practices they’d like to see in the service provider community are things like whether their IT security is being audited by an outside vendor and what their patch maintenance looks like.
Khawar also noted that this is an important area and that the guidance is just the beginning of the department’s work. “The way that I think about this issue is that we have a shared responsibility on the part of government, on the part of the regulated community and on the part of participants. And as we’ve seen in just the last several months, the cybersecurity bad actors can be very sophisticated and the assets under management in this space are also very significant … so we think it’s important that we’re all working on this issue together.”
Expanding Coverage and Lifetime Income
In the area of expanding coverage, the Khawar noted that he’s hopeful that pooled employer plans (PEPs) will help lower the threshold to entry for those employers that believe starting a 401(k) is either too complicated, too expensive or isn’t a priority for them. And in turn, he’s hopeful this will help move the needle in terms of expanding coverage. Khawar noted that they are taking a close look at the plans and are working on some things in this space with the hope that they will bring more participants into the system.
Khawar also believes that current state-based initiatives hold a lot of promise in bringing more people into the system, which will have positive impacts on state and local budgets, and more of a financial safety net available to individuals.
Responding to a question about the timing for the lifetime income disclosure regulation, Khawar noted that a Request for Information has already been issued and that the department intends to issue guidance ahead of the September 2021 deadline under the SECURE Act.
SEC Enforcement Chief Steps Down
Meanwhile, Securities and Exchange Commission director of enforcement Alex Oh resigned April 28 after only a week in that post. News reports suggest that the underlying cause was Oh’s conduct when she was part of a legal defense team representing ExxonMobil in a lawsuit seeking to hold the company liable for human rights abuses allegedly committed by its security personnel in Indonesia.
Melissa Hodgman, who served as the Enforcement Division’s Acting Director from January 2021 through this month, will return to the role of Acting Director of the Division of Enforcement.
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Shinhan Financial Group files its FY2020 Form 20-F to the SEC
BloombergChina Reins In Tech Giants’ Finance Arms After Hobbling Ant(Bloomberg) — Chinese regulators imposed wide-ranging restrictions on the fast-growing financial divisions of 13 companies including Tencent Holdings Ltd. and ByteDance Ltd., leveling many of the same curbs employed against Jack Ma’s Ant Group Co. in a crackdown on the tech sector.Units of JD.com Inc., Meituan and Didi Chuxing were also among firms summoned to a meeting with several watchdogs including the central bank, which spelled out a raft of requirements including stricter compliance when listing abroad and curbs on information monopolies and the gathering of personal data. Companies must restructure their financial wings into holding companies as part of a broad effort to subject themselves to more rigorous supervision, and sever “improper links” between their existing payments services and financial products, according to a joint statement Thursday from the central bank, banking and insurance regulator, securities watchdog and the forex overseer.Shares in Tencent, Meituan and JD fell between 1% and 3% early Friday in Hong Kong. Representatives for Tencent, ByteDance, JD, Meituan and Didi didn’t respond to requests for comment.China has waged a campaign to rein in its internet titans as the government grew increasingly concerned over their growing influence over every aspect of Chinese life as well as the vast amounts of data they’ve amassed through providing services like online shopping, chatting and ride-hailing. The crackdown has already forced Ma’s Ant to scrap its initial public offering while regulators have levied a record fine against affiliate Alibaba Group Holding Ltd.What Is Behind China’s Crackdown on Its Tech Giants: QuickTake“Nobody can escape the tough regulatory crackdown on fintech,” said Zhang Xiaoxi, a Beijing-based analyst at Gavekal Dragonomics. “While the requirements are broadly in line with those imposed on Ant, those who are considering listing need to wait till they rectify all the problems.”Analysts Cautious After Beijing Summons Tech Titans: Street WrapIt’s unclear how long the companies have to enact changes, or how it would affect their core operations. Companies like Meituan, JD and Tencent rely on their payments operations to drive their core operations in e-commerce, gaming and social media. Some, like ByteDance and Didi, are said to be exploring overseas initial public offerings and the new regulations may impose a stricter oversight of the process.The firms were also ordered to break up their information monopoly and to conduct personal credit reporting services through licensed agencies. They should strengthen their capital structure and compliance, strictly implement regulatory requirements and step up consumer protection mechanisms, according to the statement. Baidu Inc., Trip.com Group Ltd. and Lufax Holding Ltd. were among others summoned to the meeting.Read more: Jack Ma’s Double-Whammy Marks End of China Tech’s Golden Age“Good days have gone,” wrote Shujin Chen, an analyst with Jefferies. “We reiterate that China has shifted from encouraging personal consumption lending to curbing rapid increases in residential leverage.”The changes will likely hit profits and growth on several fronts, the analyst wrote. They’ll have to set up holding companies, which will require more capital; their payment and shopping apps will have to cut links with other financial products; and fintech firms will find it more difficult to get listed, including overseas and secondary listings.“Regulators will keep close communication with platforms and check on their rectification progress at an appropriate time,” the watchdog agencies said in their statement. “Those failing to rectify as requested or defying rules will face severe punishment.”Regulators have pledged to curb the “reckless push” of technology firms into finance and this month outlined an overhaul of Ant, which will drastically revamp its business and be supervised more like a bank. The overhaul meant Ant will have to cut off any improper linking of payments with other financial products including its Jiebei and Huabei lending services.Ant said it will fold those units into its consumer finance arm, apply for a license for personal credit reporting, and improve consumer data protection.Read more: Ant to Be Financial Holding Firm in Overhaul Forced by ChinaEarlier this year, China proposed measures to curb market concentration in online payments, which Ant and Tencent have transformed with their ubiquitous mobile apps that are used by a combined 1 billion people. The central bank said in draft rules that any non-bank payment company with half of the market in online transactions or two entities with a combined two-thirds share could be subject to antitrust probes.If a monopoly is confirmed, the central bank can suggest that the cabinet impose restrictive measures including breaking up the entity by its business type.(Updates with share action from the third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
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Volaris Files its 20-F Report for the Year 2020
MEXICO CITY, April 30, 2021 /PRNewswire/ — Controladora Vuela Compañia de Aviación, S.A.B. de C.V. (“Volaris” or the “Company”) (BMV: VOLAR) (NYSE: VLRS) announced today that it filed its annual report under the Form 20-F for the fiscal year ended December 31, 2020 with the U.S. Securities and Exchange Commission (the “SEC”).
A copy of the report can be accessed by visiting the SEC’s website at www.sec.gov and is also available at the website www.ir.volaris.com. Shareholders may request a hard copy of the audited financial statements included in such report free of charge by contacting Volaris Invertors Relations at the email address specified below.
Volaris is an ultra-low-cost carrier (ULCC), with point-to-point operations, serving Mexico, the United States and Central America. Volaris offers low base fares to build its market, providing quality service and extensive customer choice. Since beginning operations in March 2006, Volaris has increased its routes from five to 170 and its fleet from four to 87 aircraft. Volaris offers up to 410 daily flight segments on routes that connect 43 cities in Mexico as well as 22 cities in the United States and three in Central America with one of the youngest fleet in the Americas. Volaris targets passengers who are visiting friends and relatives (VFR), cost-conscious business people and leisure travelers in Mexico and to select destinations in the United States and Central America. Volaris has received the ESR Award for Corporate Social Responsibility for eleven consecutive years. For more information, please visit: www.volaris.com
This release contains statements that may be considered forward looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties, including in respect of the Company’s prospects for growth and its ongoing access to capital to fund the Company’s business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, market conditions, applicable regulations, the exchange rate, the Company’s competitiveness and the performance of Mexico’s economy and industry, to mention a few. We do not intend, and do not assume any obligation to update these forward-looking statements.
For further information, please contact:
Investor Relations:
María Elena Rodríguez / Investor Relations / [email protected] / +52 55 5261 6444
[email protected]
SOURCE Volaris
Related Links
http://www.volaris.
[…]
Tarena Enters into Definitive Agreement for “Going Private” Transaction
BEIJING, April 30, 2021 /PRNewswire/ — Tarena International, Inc. (Nasdaq: TEDU) (“Tarena” or the “Company”), a leading provider of professional education and K-12 education services in China, today announced that it has entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Kidedu Holdings Limited (“Parent”) and Kidarena Merger Sub, a wholly owned subsidiary of Parent (“Merger Sub”). Pursuant to the Merger Agreement, Merger Sub will merge with and into the Company, with the Company continuing as the surviving company and becoming a wholly owned subsidiary of Parent (the “Merger”), in a transaction implying an equity value of the Company of approximately US$230.6 million.
Pursuant to the Merger Agreement, at the effective time of the Merger, each American depository share of the Company (each, an “ADS”), representing one Class A ordinary share of the Company (together with the Class B ordinary shares of the Company, the “Shares”), issued and outstanding immediately prior to the effective time of the Merger, together with the Shares represented by such ADSs, will be cancelled in exchange for the right to receive US$4.00 in cash per ADS without interest, and each Share issued and outstanding immediately prior to the effective time of the Merger, other than the Excluded Shares (as defined in the Merger Agreement), the Dissenting Shares (as defined in the Merger Agreement) and Shares represented by ADSs, will be cancelled and cease to exist, in exchange for the right to receive US$4.00 in cash per Share without interest.
The merger consideration represents a premium of approximately 27.4% to the closing price of the ADSs on December 7, 2020, the last trading day prior to the Company’s announcement of its receipt of the preliminary non-binding “going-private” proposal from Mr. Shaoyun Han, and premiums of approximately 84.4% and 98.1% to the volume-weighted average trading price of the ADSs during the 60 trading days and 90 trading days, respectively, prior to and including December 7, 2020.
The merger consideration will be funded through cash contribution by Ascendent Capital Partners III, L.P. or its affiliates (the “Sponsor,” together with Mr. Shaoyun Han, the “Buyer Group”). Parent has entered into an equity commitment letter, pursuant to which the Sponsor has agreed, subject to the terms and conditions thereof, to provide the financing amounts for the purpose of financing the merger consideration. Mr. Shaoyun Han and his affiliates, Talent Fortune Investment Limited (an affiliate of KKR, “KKR”), New Oriental Education & Technology Group Inc. (“New Oriental”), and Banyan Enterprises Limited and Banyan Enterprises A Limited (affiliates of Gaorong Capital, “Gaorong,” together with Mr. Shaoyun Han and his affiliates, KKR and New Oriental, the “Rollover Shareholders”) have agreed to roll over all Shares they beneficially own in the Company in connection with the Merger.
The Company’s board of directors, acting upon the unanimous recommendation of a committee of independent directors established by the board of directors (the “Special Committee”), approved the Merger Agreement and the Merger, and resolved to recommend that the Company’s shareholders vote to authorize and approve the Merger Agreement and the Merger. The Special Committee negotiated the terms of the Merger Agreement with the assistance of its financial and legal advisors.
The Merger is currently expected to close during the third quarter of 2021 and is subject to customary closing conditions, including the approval of the Merger Agreement by the affirmative vote of shareholders representing at least two-thirds of the voting power of the outstanding Shares present and voting in person or by proxy at a meeting of the Company’s shareholders. The Rollover Shareholders have agreed to vote all Shares they beneficially own, which represent approximately 74.8% of the voting rights attached to the outstanding Shares as of April 30, 2021, in favor of the authorization and approval of the Merger Agreement and the Merger. If completed, the Merger will result in the Company becoming a privately held company and its ADSs will no longer be listed on the NASDAQ Global Select Market.
Duff & Phelps, LLC is serving as the financial advisor to the Special Committee. Gibson, Dunn & Crutcher LLP is serving as U.S. legal counsel to the Special Committee. Walkers (Hong Kong) is serving as Cayman Islands legal counsel to the Special Committee.
Skadden, Arps, Slate, Meagher & Flom LLP is serving as U.S. legal counsel to the Buyer Group. Morrison & Foerster LLP is serving as U.S. legal counsel to the Sponsor. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as U.S. legal counsel to KKR. Allen & Overy LLP is serving as U.S. legal counsel to New Oriental. Cooley LLP is serving as U.S. legal counsel to Gaorong. Conyers Dill & Pearman is serving as Cayman Islands legal counsel to the Buyer Group. Appleby is serving as the Cayman Islands legal counsel to the Sponsor. Han Kun Law Offices is serving as the PRC legal counsel to the Buyer Group. Zhong Lun Law Firm is serving as the PRC legal counsel to the Sponsor.
Additional Information About the Merger
The Company will furnish to the U.S. Securities and Exchange Commission (the “SEC”) a current report on Form 6-K regarding the Merger, which will include as an exhibit thereto the Merger Agreement. All parties desiring details regarding the Merger are urged to review these documents, which will be available at the SEC’s website (http://www.sec.gov).
In connection with the Merger, the Company will prepare and mail a Schedule 13E-3 Transaction Statement (the “Schedule 13E-3”) to its shareholders. The Schedule 13E-3 will be filed with the SEC. INVESTORS AND SHAREHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE SCHEDULE 13E-3 AND OTHER MATERIALS FILED WITH OR FURNISHED TO THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE MERGER, AND RELATED MATTERS. In addition to receiving the Schedule 13E-3 by mail, shareholders also will be able to obtain these documents, as well as other filings containing information about the Company, the Merger, and related matters, without charge from the SEC’s website (http://www.sec.gov).
About Tarena International, Inc.
Tarena is a leading provider of adult professional education and K-12 education services in China. Through its innovative education platform combining live distance instruction, classroom-based tutoring and online learning modules, Tarena offers adult professional education courses in IT and non-IT subjects. Its adult professional education courses provide students with practical skills to prepare them for jobs in industries with significant growth potential and strong hiring demand. Tarena also offers K-12 education programs, including computer coding and robotics programming courses, etc., targeting students aged between three and eighteen.
Safe Harbor Statement
This press release contains forward-looking statements made under the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Tarena may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to fourth parties. Any statements that are not historical facts, including any business outlook and statements about Tarena’s beliefs and expectations, are forward-looking statements. Many factors, risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: Tarena’s goals and strategies; its future business development, financial condition and results of operations; its ability to continue to attract students to enroll in its courses; its ability to continue to recruit, train and retain qualified instructors and teaching assistants; its ability to continually tailor its curriculum to market demand and enhance its courses to adequately and promptly respond to developments in the professional job market; its ability to maintain or enhance its brand recognition, its ability to maintain high job placement rate for its students, and its ability to maintain cooperative relationships with financing service providers for student loans. Further information regarding these and other risks, uncertainties or factors is included in Tarena’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Tarena does not undertake any obligation to update such information, except as required under applicable law.
For further information, please contact:
Amanda Wang
Investor Relations Contact
Tarena International, Inc.
Email: [email protected]
SOURCE Tarena International, Inc.
[…]
ESM Acquisition Corporation Announces the Separate Trading of its Class A Ordinary Shares and Redeemable Warrants Commencing April 30, 2021
HOUSTON–(BUSINESS WIRE)–Apr 30, 2021–
ESM Acquisition Corporation (the “Company”) announced today that, commencing April 30, 2021, holders of the units sold in the Company’s initial public offering of 30,694,067 units may elect to separately trade the Class A ordinary shares and redeemable warrants included in the units. Those units not separated will continue to trade on the New York Stock Exchange (the “NYSE”) under the symbol “ESM.U,” and the Class A ordinary shares and redeemable warrants that are separated will trade on the NYSE under the symbols “ESM” and “ESM WS,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into Class A ordinary shares and redeemable warrants.
The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company is led by Chairman John Raymond, co-founder and CEO of private equity firm The Energy & Minerals Group (“EMG”), and CEO and Director Sir Michael Davis, Chairman of Vision Blue Resources, Ltd. and former CEO of Xstrata, one of the world’s largest global diversified mining and metals companies. John Calvert, Co-Founder & President of EMG, serves as Vice Chairman of the Company and Jeffrey Ball, a Managing Director of EMG, is CFO of the Company. The Company intends to focus on a target business that is positioned to benefit from the global transition towards a low carbon economy, including but not limited to the shift away from fossil fuels, the light-weighting and electrification of vehicles and the reduction of carbon emissions from key industrial processes.
The units were initially offered by the Company in an underwritten offering. Credit Suisse acted as the sole book-running manager of the offering.
The offering was being made only by means of a prospectus, copies of which may be obtained for free from the U.S. Securities and Exchange Commission (the “SEC”) website at www.sec.gov or by contacting Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, Telephone: 1-800-221-1037, Email: [email protected].
The registration statement relating to the securities became effective on March 9, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor shall there be any sale of these securities 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.
Forward-Looking Statements
This press release may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210430005257/en/
CONTACT: Investor Contact:
Jeffrey Ball, ESM Acquisition Corporation
[email protected]
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: FINANCE BANKING NATURAL RESOURCES PROFESSIONAL SERVICES MINING/MINERALS
SOURCE: ESM Acquisition Corporation
Copyright Business Wire 2021.
PUB: 04/30/2021 08:00 AM/DISC: 04/30/2021 08:01 AM
http://www.businesswire.
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SEC probes Volkswagen’s name change joke: report
–The U.S. Securities and Exchange Commission is investigating whether Volkswagen influenced its share price when it joked about rebranding itself as ‘Voltswagen,’ German news magazine Spiegel reports.
–The investigations are at an early stage and the company confirmed to Spiegel that the SEC had requested information from its U.S. subsidiary Volkswagen Group of America, according to the magazine.
–Volkswagen declined to comment to The Wall Street Journal.
Full story (in German): https://bit.
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SEC Enforcer’s Exit Won’t Sour Gensler On BigLaw Hires – Law360
Law360 (April 29, 2021, 10:28 PM EDT) — Alex Oh’s unexpected resignation from the U.S. Securities and Exchange Commission’s top enforcement job comes as a shock, but is unlikely to dissuade Chairman Gary Gensler from looking to BigLaw for a replacement, securities attorneys told Law360.The agency is back to the drawing board for a new Enforcement Division director after announcing Wednesday that Oh, a two-decade Paul Weiss Rifkind Wharton & Garrison LLP veteran and former federal prosecutor, would be stepping down just one week after taking on the role, citing “personal reasons.
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Sezzle (ASX:SZL) to register for U.S. IPO – The Market Herald
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Payment platform Sezzle (SZL) has revealed plans to file a registration statement with the U.S. Securities and Exchange Commission (SEC)
The registration statement will be for a proposed initial public offering (IPO) of the company’s common stock in the U.S.
Sezzle has not yet determined the proposed IPO’s timing, number of shares to be offered, use of proceeds or pricing
The company’s offering is subject to market conditions, as well as the effectiveness of its registration statement
Sezzle is up 7.55 per cent and trading at $9.55 per share
Payment platform Sezzle (SZL) has revealed plans to file a registration statement with the U.S. Securities and Exchange Commission (SEC).
The registration statement will be for a proposed initial public offering (IPO) of the company’s common stock in the United States.
Earlier this month, Sezzle filed a Form 10 General Form for Registration of Securities with the SEC. As a result, the company has become a reporting company for U.S. SEC purposes, and will be subject to filing annual, quarterly and current reports with SEC, in addition to its periodic filings on the Australian Securities Exchange.
The time seems ripe for Sezzle to pursue an IPO in the U.S. market, considering its recent growth in activities there. Only yesterday, the company announced its partnership with Market America Worldwide, a U.S. product brokerage and internet marketing company.
Market America Worldwide is also the owner of popular e-commerce site, SHOP.COM, an enterprise where Sezzle’s buy now, pay later online payment services may be of use.
Under the companies’ new partnership, Sezzle will provide Market America’s independent distributors, customers, and online shoppers with a flexible and convenient payment option. This will allow the distributors, customers, and shoppers to exercise greater control over when and how they pay.
Sezzle has not yet determined a number of details about the proposed IPO in the U.S. These details include the IPO’s timing, pricing, the number of shares in common stock to be offered, or how the IPO’s proceeds will be used by the company.
The proposed IPO is subject to a number of conditions, including the condition of the market and the effectiveness of the registration statement to be filed.
Sezzle is up 7.55 per cent, trading at $9.55 per share at 10:16 am AEST.
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SEC Thailand Seeks Investigative, Prosecutorial Powers
The SEC seeks powers to investigate and prosecute its own cases and speed up enforcement against capital market violations.
Thailand’s SEC (Securities and Exchange Commission) is proposing amendments to the Securities and Exchange Act to give it more authority to investigate and punish breaches.
The SEC currently lacks power to investigate violations of the Act. If violations are found, a lawsuit needs to be filed from the Ministry of Justice for larger cases and from the Police for smaller cases .
The amendment will give the SEC broader investigative authority and the ability to provide additional protections to witnesses – which will enable it to prosecute its own cases and speed up enforcement in capital markets.
The SEC also wants to raise the penalties it can impose on offenders, allowing for criminal penalties to be imposed for serious offences.
The consultations are available here and here. They are open for comment until 22 May and 24 May, respectively.
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