NEW YORK, Oct. 16, 2024 /PRNewswire/ — MongoDB, Inc. (“MongoDB”) (Nasdaq: MDB), the leading, modern general purpose database platform, today announced that it issued a notice of redemption for all $1,149,972,000 aggregate principal amount outstanding of its 0.25% convertible senior notes due 2026 (the “Notes”).  The redemption date will be December 16, 2024.  The redemption price with respect to any redeemed note will equal 100% of the principal amount thereof, plus accrued and unpaid interest, from July 15, 2024, to, but excluding the redemption date.  On the redemption date, the redemption price will become due and payable upon each note to be redeemed and interest thereon will cease to accrue on and after the redemption date.

The notes may be converted by holders at any time before 5:00 p.m. (New York City time) on December 13, 2024 (the “conversion deadline”).  The conversion rate for notes converted after today and through the conversion deadline is equal to 4.9260  shares of common stock of MongoDB, par value $0.001 per share (the “Common Stock”), per $1,000 principal amount of the notes, which includes an increase to the conversion rate of 0.1911 shares of Common Stock per $1,000 principal amount of the notes as a result of the notes being called for redemption.  MongoDB has elected to settle any conversions of the notes during the redemption period by delivering shares of its Common Stock, together with cash, if applicable, in lieu of delivering any fractional share of Common Stock (physical settlement).

About MongoDB

Headquartered in New York, MongoDB’s mission is to empower innovators to create, transform, and disrupt industries by unleashing the power of software and data. Built by developers, for developers, MongoDB’s developer data platform is a database with an integrated set of related services that allow development teams to address the growing requirements for today’s wide variety of modern applications, all in a unified and consistent user experience. MongoDB has tens of thousands of customers in over 100 countries. The MongoDB database platform has been downloaded hundreds of millions of times since 2007, and there have been millions of builders trained through MongoDB University courses.

Forward Looking Statements

This press release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning the planned redemption of the notes. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,” “would” or the negative or plural of these words or similar expressions or variations. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control including, without limitation: risks associated with executing the redemption of the notes and events that could impact the terms of the redemption, as well as those described in MongoDB’s filings with the United States Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended July 31, 2024, filed with the SEC on August 30, 2024, and other filings and reports that we may file from time to time with the SEC. Except as required by law, we undertake no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, changes in expectations or otherwise.   

Investor Relations
Brian Denyeau
ICR for MongoDB
646-277-1251
ir@mongodb.com

Media Relations
MongoDB
press@mongodb.com

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SOURCE MongoDB, Inc.

NEW YORK, Oct. 16, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The Global Metal Detector Market  size is estimated to grow by USD 267.6 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.2%  during the forecast period. Increase in technological innovations in metal detectors is driving market growth, with a trend towards increase in adoption of metal detectors in residential areas. However, high cost of metal detectors  poses a challenge – Key market players include Bounty Hunter, Codan Ltd, Costruzioni Elettroniche Industriali Automatismi SpA, Dongguan Juzheng Electronic Technology Co. Ltd., Elektral AS, Garrett Electronics Inc., Leidos Holdings Inc., Metal Detectors Inc., Nokta Makro Metal Detectors, OSI Systems Inc., Pirate Electronics Ltd., Quest Metal Detectors, The Tamis Corp., View Systems Inc., WIPOTEC OCS GmbH, XP Metal Detectors, and Zorpro Inc..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Key Market Trends Fueling Growth

The Metal Detector Market is witnessing significant growth due to increasing residential security concerns. Homeowners and authorities are recognizing the importance of security equipment, leading to the installation of metal detectors in residential areas. Terrorist activities have heightened the need for metal detectors in such places, with both walk-through and handheld models being used. Handheld detectors, which are cost-effective and portable, are popular among small residential apartments. The deployment of metal detectors in residential buildings worldwide is anticipated to increase during the forecast period, driving market expansion. 

The Metal Detector market is experiencing significant growth due to increasing security concerns in various sectors. Portable metal detectors, ideal for finding metallic objects in public spaces, are trending. Security applications include airports, schools, public events, industrial settings, and border checkpoints. Metal detectors are essential for safety purposes, detecting weapons, drugs, contraband, and other threats. Siddhi Equipments offers innovative solutions with handheld and walk-through detectors, featuring wireless audio, integrated GPS, waterproof platforms, and LED indicators. Alarm types and sensitivity levels cater to specific needs. Detectors are used in transportation, law enforcement, and security service providers. Food metal detectors ensure safety in residential areas and theme parks. Ferrous and nonferrous metal detection are crucial in museums and transportation hubs. Warranties and detector innovations ensure customer satisfaction. Security technology continues to evolve, addressing terrorism, mass shootings, and terrorist activity. 

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Market Challenges

The global metal detector market faces a challenge due to the high cost of metal detector products. Prices vary based on features such as detection surface design, LED indicators, alarm types, sensitivity levels, and warranties. Handheld metal detectors range from USD95 to USD550, offering visual, audible, and vibration alarms. Walk-through metal detectors cost between USD2,500 and USD10,000, while ground search metal detectors are priced at USD250 to USD1,000. This high price point may deter potential customers, particularly in developing countries, from purchasing these products, potentially impacting the growth of the metal detector market negatively during the forecast period.The Metal Detector Market faces several challenges in various industries. In the security sector, mass shootings and terrorist activity necessitate advanced security technology, including metal detectors for law enforcement, schools, and transportation hubs. Siddhi Equipments and security service providers compete to offer innovative metal detectors with features like wireless audio, integrated GPS, waterproof platforms, and LED indicators. In the food industry, metal detectors are crucial for food safety. Detecting ferrous, nonferrous, and stainless metals in food products is essential to prevent foodborne diseases and comply with regulations. Handheld and walk-through detectors are popular options, with sensitivity levels and alarm types varying to meet specific needs. Warranties and detector innovations are key considerations for food manufacturers. Residential areas and theme parks also use metal detectors for security. Ground searches for metal contaminants are common in these settings. Vibration alarms and sensitivity levels are important features for these applications. Overall, the Metal Detector Market continues to evolve, addressing the diverse needs of various industries.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This metal detector market report extensively covers market segmentation by

Application 1.1 Security1.2 HobbyProduct 2.1 Walk-through2.2 Handheld2.3 Ground searchGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Security-  Metal detectors are becoming essential tools for enhancing security screening processes in various sectors. Following increased security measures after terrorist attacks, major theme parks in the US and government organizations worldwide are installing metal detectors. Airport construction and expansion projects, driven by the growing number of airlines and commuters, will also result in a higher deployment of metal detectors. Commercial places like shopping malls and IT parks are also potential targets for terror attacks, creating demand for metal detector applications in the security segment. This trend is expected to fuel the growth of the global metal detector market during the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Metal Detector market encompasses a range of portable devices designed to detect metallic objects in various settings. These devices find extensive applications in security scenarios such as airports, schools, public events, industrial settings, and safety purposes, addressing growing security concerns. The technology is employed at border checkpoints for weapons detection and in theme parks, museums, and transportation hubs for enhanced safety. Portable handheld detectors and walk-through detectors are popular choices, with features like wireless audio, integrated GPS, waterproof platforms, LED indicators, and different alarm types catering to diverse user needs. Sensitivity levels and warranties are crucial factors in determining the suitability of metal detectors for ferrous metals, nonferrous metals, stainless metals, and food metal detection in food industries.

Market Research Overview

The Metal Detector market encompasses a range of portable devices designed to detect metallic objects in various settings. These devices find extensive applications in security scenarios, including airports, schools, public events, industrial settings, and border checkpoints, for safety purposes and security concerns. Metal detectors are essential in detecting weapons, drugs, contraband, and other potential threats in public spaces, where terrorism and mass shootings are a concern. Siddhi Equipments and other manufacturers offer a wide range of metal detectors, including handheld and walk-through models, with features like wireless audio, integrated GPS, and waterproof platforms. Metal detectors are also used in food industries for detecting metal contaminants in food products, ensuring food safety and complying with regulations. Food metal detectors can detect ferrous, nonferrous, and stainless metals in packaged foods, preventing foodborne diseases and ensuring the quality and safety of food products. Metal detector innovations continue to advance security technology, providing sensitivity levels and alarm types to suit various applications.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationSecurityHobbyProductWalk-throughHandheldGround SearchGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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