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Flatiron Realty Capital and UBS O’Connor Form Co-Investment Strategy

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Janney Served as Sole Financial Advisor to Flatiron Realty Capital, LLC

NEW YORK, Oct. 16, 2024 /PRNewswire/ —

Transaction Overview

Flatiron Realty Capital, LLC (“Flatiron”) has announced the formation of a co-investment strategy focused on residential transition loans (“RTL”) with O’Connor Capital Solutions (“OCS”), the private credit strategy within UBS O’Connor.

RTLs are short-term, 1st lien business purpose loans on residential real estate used for renovation and / or construction.

The investment will enable Flatiron to capitalize on its robust pipeline and attractive market dynamics. The vehicle is expected to be capitalized through an expandable investment of up to $100 million USD from OCS alongside co-invested equity from Flatiron and its owners, as well as mortgage funding facilities. The investment is expected to expand Flatiron’s managed loan portfolio to at least $600 million USD.

Janney served as sole financial advisor to Flatiron in connection with the transaction.

“We are pleased to announce the formation with OCS. We continue to see attractive opportunities within our target markets. This speaks to the strengths of the platform we have built at Flatiron and enables us to leverage our expertise by providing solutions to an expanded client base,” said Robert Talas, Founding Partner of Flatiron.

“RTLs are a growing product within the broader real estate lending industry. We see increasing liquidity and attractive capital markets dynamics for capital deployment in RTLs,” said Joshua Mercado, a principal at OCS.

Since 2015, OCS has raised more than $3 billion USD in committed capital across multiple funds and separately managed accounts. OCS focuses on credit and credit-like investments across corporate direct lending, asset finance, and real estate. It targets investment sizes from $20 to $150 million USD.

About Flatiron Realty Capital LLC

Flatiron Realty Capital was founded in 2018 as a privately funded real estate portfolio lender that offers alternative sources of financing to real estate developers and investors. Specializing in bridge loans, construction / rehabilitation financing, and 30-year rental investment products, Flatiron provides holistic solutions to satisfy the short-term and long-term financing needs of its core customer base.

Flatiron harnesses the hands-on, service-oriented approach of a local lender with the capital markets execution capabilities and technology-enabled infrastructure of a highly-scalable organization to offer customers proprietary credit solutions and customized service offerings.

For more information, please visit www.flatironrealtycapital.com

About UBS O’Connor
O’Connor is a multi-strategy hedge fund manager within UBS Asset Management, with complete independence in its investment decision-making. O’Connor has over 40 years of institutional experience in trading and market making and 20 years’ experience as a hedge fund manager with a strong focus on relative value investing and risk management. O’Connor’s capabilities cover a wide range of investment programs and manage over USD 11.4 billion in assets (as of August 2024) on behalf of institutional and high net worth clients. The firm has a global operating platform with offices located in New York, Chicago, Stamford, London, Hong Kong, Shanghai and Singapore.

For more information on UBS O’Connor, please contact:

ol-am-mediarelations@ubs.com
UK: +44 20 7901 5538
Americas: +1 212 713 3803

About the Financial Institutions Group at Janney

The Financial Institutions Group at Janney specializes in serving financial institutions looking to better manage assets, risks, operations, and create shareholder value. We offer expert advisory in a buy-side or sell-side M&A role, as well as guidance in capital raising transactions through equity or debt instruments for both public and private institutions. We have a consistent track record of delivering highly customized solutions, exceptional service, and support from a senior team of professionals.

The group has deep expertise and experience in the following sectors: Depositories, Specialty Finance, REITS, BDCs, Insurance, and Fintech.

About Janney Investment Banking

Janney’s Investment Banking practice is a leader in middle-market advisory and financing solutions. We place a high value on our consistent track record of delivering solutions and results to our clients. Since 2015, we have completed over 630 transactions aggregating over $85 billion in transaction value. We work with clients on a highly personalized basis, providing exceptional service, commitment, and senior-level attention.

Matt Veneri
Head of Investment Banking
404-601-7222
mveneri@janney.com

Depositories | Business Services | Consumer | Healthcare | Industrials | Energy | Infrastructure |    Financial Services | Technology

About Janney

Janney Montgomery Scott LLC is a leading full-service investment banking and financial services firm serving individual, corporate, institutional, and government clients. Janney is an independently operated subsidiary of The Penn Mutual Life Insurance Company, one of the 15 largest mutual insurance companies in the nation, and is a member of the New York Stock Exchange, Financial Industry Regulatory Authority, and the Securities Investor Protection Corporation.

Janney Montgomery Scott LLC
The Highest Standard of Success in Financial Relationships
www.Janney.com

For more information, please contact:
Kipp Fawcett
Managing Director
212-230-2328
kfawcett@janney.com

Matthew Pennino
Managing Director
646-812-7927
mpennino@janney.com

Matthew Paul
Vice President
215-665-6022
mpaul@janney.com

Zach Zygmunt
Associate
212-888-2527
zzygmunt@janney.com

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SOURCE Flatiron Realty Capital

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Massive Gaming, Neowiz, and Kangwon Land Launched ‘Shen Shou Wan fu’ Slot Machine Offline

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‘Shen Shou Wan fu’ is an online slot game that features three powerful guardians, symbolizing immense wealth

Now available as physical slot machines in offline casinos through a collaboration with Kangwon Land

MVG plans to expand distribution with exclusive B2B rights to online channels for slot games

SYDNEY, Jan. 16, 2025 /PRNewswire/ — Massive Gaming(“MVG”) announced that it has launched the ‘Shen Shou Wan fu (神兽万福)’ slot game, co-developed with Neowiz, MVG’s parent company, and Kangwon Land, which hosts the only casino in South Korea open to locals. The game is now available in offline venues as slot machines.

‘Shen Shou Wan fu’ is an online slot game featuring motifs of the Golden Dragon (JIN LONG), Phoenix (FENGHUANG), and Haetae (XIEZHI), which symbolize luck and prosperity.

The slot machine debuted in offline casino venues. Key personnel from MVG and Neowiz worked closely on the art resources and software design of ‘Shen Shou Wan fu’, ensuring a seamless integration of creative and technical expertise. Kangwon Land managed the slot machine’s hardware design and manufacturing. This launch marks the first commercialization of software-based products through public-private collaboration in South Korea’s casino market.

After successfully establishing ‘Shen Shou Wan fu’ in the Korean market, MVG is ready to leverage this success for aggressive global sales. Holding exclusive rights to the slot game, MVG plans to expand its presence in the regulated gaming market by targeting key regions with strategic marketing and distribution.

A representative stated, “We are pleased to showcase our slot game in offline casinos with Kangwon Land,” adding plans to introduce diverse content for global markets.

Massive Gaming(MVG), a prominent B2B iGaming content provider and a subsidiary of Neowiz (KOSDAQ:095660), offers a diverse range of slot, table, and crash games, as well as an advanced Casino Management System and Live Streaming Services. With brands like Whale House, known for its unique slot games, and Blitzcrown, focused on non-traditional gaming experiences, MVG leads in innovative gaming solutions. Committed to high-quality service and technological excellence, MVG continues to expand its global presence. Learn more at: https://massivegaming.io/

 

 

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SOURCE Massive Gaming Pty. Ltd.

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LG Display Unveils 4th-Generation OLED Panel Optimized for AI Era

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SEOUL, South Korea, Jan. 15, 2025 /PRNewswire/ — LG Display, the world’s leading innovator of display technologies, continues to lead the way in large-sized OLED technology by unveiling its fourth-generation OLED TV panel. 33% brighter than the previous generation and optimized for the AI TV era, it is the industry’s first-ever OLED display to achieve a maximum brightness as high as 4,000 nits (1 nit is the brightness produced by a candle).

Panels with both high brightness and energy efficiency are essential for AI TVs, as they use upscaling that analyzes content in real time to deliver ultra-high picture quality of up to 8K. The industry also considers higher brightness to be a key picture quality factor because it enables more vivid images that are akin to natural human vision.

LG Display’s fourth-generation OLED TV panel meets the performance demands of the most advanced AI TVs, interacting in real-time with the TV’s on-device AI to deliver the perfect picture in any environment.   

The new panel’s innovation centers on a Primary RGB Tandem structure, which is LG Display’s proprietary technology that uses independent stacks of RGB elements to produce light. It had previously used a three-stack light source, with two layers of blue elements emitting relatively short energy wavelengths alongside red, green, and yellow elements in a single layer.

The Primary RGB Tandem structure applied to the fourth-generation OLED TV panel organizes the light source into four stacks by adding two layers of blue elements and independent layers of red and green elements. It improves maximum brightness by increasing the amount of light produced by each layer compared to the previous structure.

As well as increasing maximum brightness, LG Display has raised the latest OLED panel generation’s color brightness. Color purity is enhanced by separating the red, green, and blue elements – the three primary colors of light – into distinct layers, resulting in a color brightness of 2,100 nits, a 40% improvement over the previous generation (1,500 nits).

In addition, energy efficiency has been maximized in line with the significantly higher expected power consumption of AI TVs. By enhancing the fourth-generation OLED TV panel’s structure and power supply system, LG Display has reduced its temperature and achieved around 20% greater energy efficiency than the previous generation (in the case of a 65-inch panel).

It also delivers a customer experience that pushes the limits of display with stunning picture quality featuring perfect blacks and rich colors in any environment.

In general, a display’s color reproduction is affected by external light. As the screen reflects ambient light in a bright room, black may appear gray or overlapping reflections of nearby objects might disrupt the viewing experience. For example, while watching content featuring a night sky in a living room in the middle of the day, any sense of immersion would be broken if the sky appears foggy or if reflected furniture overlaps on the screen.

To solve this customer inconvenience, LG Display has developed a special film that offsets both light reflected from the display’s surface and light absorbed and reflected inside the panel. With the advantage of this ultra-low reflection technology, the company’s fourth-generation OLED TV panel blocks 99% of internal and external light reflections, realizing perfect black just like in a movie theater with the lights off even in a midday living room setting (500 lux).

A display’s color gamut and accuracy also decrease dramatically as the viewing environment gets brighter. However, this TV panel sees virtually no change in color gamut and offers 100% color accuracy at 500 lux. It is therefore the only display to overcome the viewing environment limitations of conventional displays.

Meanwhile, the fourth-generation OLED TV panel provides differentiated customer value through human-friendly technologies, such as by emitting only 45% blue light compared with the 70-80% level that would typically be produced by an LCD screen. Blue light is known to negatively affect users’ vision and circadian rhythms.

It additionally stands out as a sustainable display by adopting eco-friendly methods in the entire product life cycle from development to mass production, including using more than 90% fewer plastic raw materials than LCDs and improving the recycling rate of end-of-life product parts to over 92.7%.

LG Display will apply its fourth-generation OLED TV panel to its top-of-the-line mass-produced lineup this year to consolidate its dominance in the premium TV market.

The company then plans to gradually apply its Primary RGB Tandem technology to its Gaming OLED lineup, targeting the high-end gaming market with a diverse range of panels. This already includes the world’s fastest monitor panel equipped with the industry’s highest response speed and refresh rate, which are important specifications for gaming monitors, as well as bendable panels that adjust their curvature according to the gaming content.

“The fourth-generation OLED panel is the essence of innovation that exceeds the limits of existing displays by applying LG Display’s unique technologies such as Primary RGB Tandem and ultra-low reflection technology,” said Hyeon-woo Lee, Senior Vice President and Head of the Large Display Business Unit at LG Display. He added, “We will provide an unprecedented customer experience along with superior picture quality and user-friendly technology while strengthening our OLED technology leadership.”

About LG Display

LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world’s leading innovator of display technologies, including thin-film transistor liquid crystal and OLED displays. The company manufactures display panels in a broad range of sizes and specifications primarily for use in TVs, notebook computers, desktop monitors, automobiles, and various other applications, including tablets and mobile devices. LG Display currently operates manufacturing facilities in Korea and China, and back-end assembly facilities in Korea, China, and Vietnam. The company has approximately 70,707 employees operating worldwide. For more news and information about LG Display, please visit www.lgdisplay.com.

Media Contact:
Joo Yeon Jennifer Ha, Manager, Communication Team
Email: hjy05@lgdisplay.com

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SOURCE LG Display

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Agoda: Tokyo crowned top international destination for welcoming ‘The Year of the Snake’

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SINGAPORE, Jan. 16, 2025 /PRNewswire/ — As the Lunar New Year approaches, digital travel platform Agoda reveals the top 10 most sought-after cities in Asia to celebrate the start of ‘The Year of the Snake’. Japanese cities emerged as tourist favorites for the holiday period with Tokyo taking the top spot.

Tokyo is followed by Bangkok (Thailand), Osaka (Japan), Fukuoka (Japan), and Seoul (South Korea) rounding out the top five based on accommodation search data on Agoda. The list continues with Hong Kong, Sapporo (Japan), Singapore, Phuket (Thailand), and Hat Yai (Thailand) completing the top ten.

Asian travelers are drawn to celebrate the Lunar New Year in metropolitan hubs such as Tokyo, Bangkok, and Seoul. These cities offer an exciting array of festivities and cultural experiences, making them attractive destinations for a festive getaway. The rankings also reveal that travelers seeking international destinations enjoy a mix of climates, from the cooler weather in Osaka and Sapporo to the warmer temperatures in Phuket and Hat Yai.

Hiroto Ooka, Associate Vice President North Asia at Agoda shared, “The Lunar New Year is a special time for travelers, and it’s exciting to see Japanese cities like Tokyo and Osaka being such sought-after destinations during the holiday. Agoda is thrilled to be part of this journey, helping travelers welcome a prosperous ‘Year of the Snake’ and celebrate in style with great deals on flights, accommodations and activities.”

The Lunar New Year holiday marks new beginnings and the arrival of Spring, making it a popular travel period as people look to reunite with family and friends. ‘The Year of the Snake’ symbolizes rebirth and transformation and is said to present an auspicious opportunity for embracing self-discovery and exploring new horizons. Known for their association with good fortune, snakes inspire travelers to shed the old and welcome the new — whether by rediscovering familiar places or venturing abroad during this festive season. 

As travelers prepare for their Lunar New Year holidays, Agoda offers exceptional deals on over 5 million holiday properties, more than 130,000 flight routes, and over 300,000 activities available on the platform. Travelers can find the latest deals on the Agoda app or at agoda.com/deals.

–ENDS–

 

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SOURCE Agoda

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