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EchoStar Corporation Announces Amendments to Exchange Offers for Certain Outstanding Notes Issued by DISH DBS Corporation for New DBS Notes (as defined herein) That Will Be Mandatorily Exchanged for New Secured Notes Issued by DTV Issuer (as defined herein) Immediately Prior to the Consummation of the Acquisition Transaction (as defined below) and Subject to the Satisfaction of the Terms and Conditions Described in the Exchange Offering Memorandum

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ENGLEWOOD, Colo., Oct. 28, 2024 /PRNewswire/ — EchoStar Corporation (Nasdaq: SATS) (“EchoStar”), today announced that DISH DBS Corporation (“DBS”) has amended certain terms of its previously announced offers to exchange (the “Exchange Offers”) any and all of its (a) 5.25% Senior Secured Notes due 2026 (the “Outstanding 2026 DBS Secured Notes”), (b) 5.75% Senior Secured Notes due 2028 (the “Outstanding 2028 DBS Secured Notes”), (c) 7.75% Senior Notes due 2026 (the “Outstanding 2026 DBS Notes”), (d) 7.375% Senior Notes due 2028 (the “Outstanding 2028 DBS Notes”) and (e) 5.125% Senior Notes due 2029 (the “Outstanding 2029 DBS Notes” and, together with the Outstanding 2026 DBS Secured Notes, the Outstanding 2028 DBS Secured Notes, the Outstanding 2026 DBS Notes and the Outstanding 2028 DBS Notes, the “Outstanding Notes”) for an equal principal amount of new notes issued by DBS (the “New DBS Notes”) that will be issued with substantially the same terms as the corresponding series of Outstanding Notes, including maturity, interest rate, interest payment dates and covenants, except for certain changes, including to facilitate the acquisition of the DISH Pay-TV Business by DIRECTV Holdings LLC, pursuant to an Equity Purchase Agreement (the “Purchase Agreement”) between DIRECTV Holdings LLC (“Purchaser”) and EchoStar (the “Acquisition Transaction”), such as that if the Acquisition Transaction is or will be consummated on or prior to the Outside Date (as defined in the Exchange Offering Memorandum), then immediately prior to the consummation of the Acquisition Transaction, such New DBS Notes will be acquired by Purchaser, an affiliate of the DTV Issuer, in a mandatory exchange, at the applicable exchange rate described in the table below (the “Mandatory Exchange Consideration”), with no further action by the holder of the New DBS Notes, for the applicable series of New DTV Issuer Notes set forth in the table below (the “New DTV Issuer Notes”, and together with the New DBS Notes, the “New Notes”), in each case to be issued by DIRECTV Financing, LLC and DIRECTV Financing Co-Obligor, Inc. (together with DIRECTV Financing, LLC, the “DTV Issuer”) with the terms set forth in the form of New DTV Issuer Notes Indentures included in the exchange offer memorandum and consent solicitation statement, dated September 30, 2024 (the “Original Exchange Offering Memorandum”) (each such mandatory exchange, a “Mandatory Acquisition/Exchange” and collectively, the “Mandatory Acquisition/Exchanges”, and the reduction in the principal amount of New DBS Notes resulting from the Mandatory Acquisition/Exchanges is herein referred to as the “Principal Reduction”). The Original Exchange Offering Memorandum has been supplemented by Supplement No. 1, dated October 28, 2024 (the “Supplement” and together with the Original Exchange Offering Memorandum, the “Exchange Offering Memorandum”).

The amendments to the Exchange Offers set forth herein and in the Supplement (i) decrease the Discount Amount (as defined below) to at least $1,498,625,000, (ii) increase the Mandatory Exchange Consideration issuable in the form of New 2029 DTV Issuer Secured Notes, New 2031-Series B DTV Issuer Secured Notes and New 2032 DTV Issuer Secured Notes as described in the table below, (iii) extend the Expiration Time (as defined in the Exchange Offering Memorandum) to 5:00 p.m., New York City time on November 12, 2024, (iv) amend and restate, in their entirety, the sections entitled “Unaudited Pro Forma Financial Information” and “Information About DIRECTV—Capitalization” of the Original Exchange Offer Memorandum and (v) amend and restate Section 3.07 of and Form of Note to Appendix A-3 of the Original Exchange Offering Memorandum to align with the optional redemption provisions of the Outstanding 2028 DBS Notes.

The following table describes certain terms of the Exchange Offers as amended (including the amended Mandatory Exchange Consideration of the (i) New 2029 DTV Issuer Secured Notes, (ii) the New 2031-Series B DTV Issuer Secured Notes and (iii) New 2032 DTV Issuer Secured Notes set forth in the last column):

Outstanding Notes

Exchange Consideration – New DBS Notes

Mandatory Exchange Consideration – New DTV Issuer Notes

For each $1,000 Principal Amount of the Relevant Series of Outstanding Notes

CUSIP(1)

ISIN(1)

Outstanding Aggregate Principal Amount

Principal Amount and Applicable Series of New DBS Notes to be Issued

Principal Amount and Applicable Series of New DTV Issuer Notes to be Issued in the Mandatory Acquisition/Exchanges

5.25% Senior Secured Notes due 2026 (“Outstanding 2026 DBS Secured Notes”)

25470XBE4 / U25486AQ1

US25470XBE40 / USU25486AQ11

$2,750,000,000

$1,000 principal amount of 5.25% First Lien Notes due 2026

(“New 2026 DBS First Lien Notes”)

$930 principal amount of new 8.875% Senior Secured Notes due 2028 (the “New 2028 DTV Issuer Secured Notes”)

5.75% Senior Secured Notes due 2028 (“Outstanding 2028 DBS Secured Notes”)

25470XBF1 / U25486AR9

US25470XBF15 / USU25486AR93

$2,500,000,000

$1,000 principal amount of 5.75% First Lien Notes due 2028

(“New 2028 DBS First Lien Notes”)

$870 principal amount of new 8.875% Senior Secured Notes due 2031 (the “New 2031-Series A DTV Issuer Secured Notes”)

7.75% Senior Notes due 2026

(“Outstanding 2026 DBS Notes”)

25470XAY1 / U25486AM0 /

25470XAX3

US25470XAX30 / USU25486AM07 / US25470XAY13

$2,000,000,000

$1,000 principal amount of 7.75% Second Lien Notes due 2026

(“New 2026 DBS Second Lien Notes”)

$855 principal amount of new 8.875% Senior Secured Notes due 2029 (the “New 2029 DTV Issuer Secured Notes”)

7.375% Senior Notes due 2028

(“Outstanding 2028 DBS Notes”)

25470XBB0 /

U25486AN8 / 25470XAZ8

US25470XAZ87 / USU25486AN89 / US25470XBB01

$1,000,000,000

$1,000 principal amount of 7.375% Second Lien Notes due 2028

(“New 2028 DBS Second Lien Notes”)

$740 principal amount of new 8.875% Senior Secured Notes due 2031 (the “New 2031-Series B DTV Issuer Secured Notes”)

5.125% Senior Notes due 2029

(“Outstanding 2029 DBS Notes”)

25470XBD6 /

U25486AP3 / 25470XBC8

US25470XBC83 / USU25486AP38 / US25470XBD66

$1,500,000,000

$1,000 principal amount of 5.125% Second Lien Notes due 2029

(“New 2029 DBS Second Lien Notes”)

$660 principal amount of new 8.875% Senior Secured Notes due 2032 (the “New 2032 DTV Issuer Secured Notes”)

(1) No representation is made as to the correctness or accuracy of the CUSIP numbers or ISINs listed herein or printed on the Outstanding Notes. They are provided solely for convenience.

The Mandatory Exchange Consideration has been amended to increase the principal amount of the applicable series of New DTV Issuer Notes issuable in the Mandatory Acquisition/Exchanges by $65, $60 and $60 per $1,000 principal amount for the New 2026 DBS Second Lien Notes, the New 2028 DBS Second Lien Notes and the New 2029 DBS Second Lien Notes, respectively, exchanged in the Mandatory Acquisition/Exchanges. The Mandatory Exchange Consideration is accordingly amended as shown in the table below:

For each $1,000 Principal Amount of the Relevant
Series of New DBS Notes

Principal Amount and Applicable Series of New
DTV Issuer Notes to be Issued in the Mandatory
Acquisition/Exchanges

New 2026 DBS First Lien Notes

$930 principal amount of New 2028 DTV Issuer Secured Notes

New 2028 DBS First Lien Notes

$870 principal amount of New 2031-Series A DTV Issuer Secured Notes

New 2026 DBS Second Lien Notes

$855 principal amount of New 2029 DTV Issuer Secured Notes

New 2028 DBS Second Lien Notes

$740 principal amount of New 2031-Series B DTV Issuer Secured Notes

New 2029 DBS Second Lien Notes

$660 principal amount of New 2032 DTV Issuer Secured Notes

Except as described herein, other terms of the previously announced Exchange Offers and related consent solicitations as described in the Exchange Offering Memorandum (the “Consent Solicitations”) remain unchanged. The Exchange Offers are conditioned upon the valid tenders for exchange being received from Eligible Holders (as defined below) of such series of Outstanding Notes and accepted in the relevant Exchange Offer of at least 66 2/3% in aggregate principal amount of the Outstanding Notes of such series currently outstanding, excluding any such Outstanding Notes held by DBS or any of its affiliates (the “Minimum Series Exchange Condition”). In addition, the inclusion in the New DBS Notes Indentures of the Mandatory Acquisition/Exchanges feature, is conditioned upon (i) the satisfaction or waiver of the conditions described herein, including the Minimum Series Exchange Condition, with respect to all series of the Outstanding Notes and (ii) the valid tenders for exchange being received and accepted from Eligible Holders of the Outstanding Notes as would result in a Discount Amount of at least $1,498,625,000, as amended ((i) and (ii) together, the “Acquisition Consent Threshold Condition”). The “Discount Amount” shall mean the aggregate amount of Principal Reduction that would be applicable to the New DBS Notes (aggregated among all such New DBS Notes) that would be issued on the settlement date.

Holders of Outstanding Notes should read carefully and in its entirety the Exchange Offering Memorandum before deciding whether to exchange their Outstanding Notes. Full details of the terms and conditions of the Exchange Offers and Consent Solicitations are described in the Exchange Offering Memorandum. The Exchange Offers and Consent Solicitations are only being made pursuant to, and the information in this press release is qualified in its entirety by reference to, the Exchange Offering Memorandum, which is being sent by DBS to Eligible Holders of the Outstanding Notes. Eligible Holders of the Outstanding Notes are encouraged to read these documents, as they contain important information regarding the Exchange Offers and the Consent Solicitations.

Each of the Exchange Offers is a separate offer and/or solicitation, and each may be individually amended, extended, terminated or withdrawn, subject to certain conditions and applicable law, at any time in DBS’s sole discretion, and without amending, extending, terminating or withdrawing any other Exchange Offer. Additionally, notwithstanding any other provision of the Exchange Offers, DBS’s obligations to accept and exchange any of the Outstanding Notes validly tendered pursuant to an Exchange Offer is subject, among other things, to the satisfaction or waiver of certain conditions, as described in the Exchange Offering Memorandum, and DBS expressly reserves its right, subject to applicable law, to terminate any Exchange Offer at any time.

As of the close of business on October 28, 2024, a total of (i) $121,224,000 principal amount of Outstanding 2026 DBS Secured Notes, (ii) $105,827,000 principal amount of Outstanding 2028 DBS Secured Notes, (iii) $53,816,000 principal amount of Outstanding 2026 DBS Notes, (iv) $42,162,000 principal amount of Outstanding 2028 DBS Notes and (v) $53,141,000 principal amount of Outstanding 2029 DBS Notes had been validly tendered and not withdrawn. Eligible Holders that have previously validly tendered (and not validly withdrawn) their Outstanding Notes pursuant to the procedures set forth in the Exchange Offer Memorandum are not required to take any further action to be eligible to receive the Exchange Consideration.

The Exchange Offers and Consent Solicitations are being made, and the applicable series of New Notes are being offered, only to holders of the Outstanding Notes who are either (a) persons who are reasonably believed to be “qualified institutional buyers” as defined in Rule 144A under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or (b) persons other than “U.S. persons” as defined in Regulation S under the Securities Act and who are otherwise in compliance with the requirements of Regulation S; provided that, in each case, if the holder is in the European Economic Area or the United Kingdom, such holder is a qualified investor and is not a retail investor. With respect to holders in the European Economic Area, a “retail investor” means a person who is one (or more) of: (i) a “retail client” as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”); or (ii) a “customer” within the meaning of Directive (EU) 2016/97, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a “qualified investor” as defined in Regulation (EU) 2017/1129. The holders of Outstanding Notes who have certified to DBS that they are eligible to participate in the Exchange Offers and Consent Solicitations pursuant to at least one of the foregoing conditions are referred to as “Eligible Holders.” Eligible Holders may go to https://deals.is.kroll.com/DISHDBS to confirm their eligibility.

None of EchoStar, DBS, DTV Issuer, any of their respective subsidiaries or affiliates, or any of their respective officers, boards of directors or directors, the dealer managers, the solicitation agent, the exchange agent and information agent or any trustee is making any recommendation as to whether Eligible Holders should tender any Outstanding Notes in response to the Exchange Offers or deliver any consents pursuant to the Consent Solicitations and no one has been authorized by any of them to make such a recommendation. Eligible Holders must make their own decision as to whether to tender their Outstanding Notes and deliver consents, and, if so, the principal amount of Outstanding Notes as to which action is to be taken.

The Exchange Offers and the Consent Solicitations are not being made to Eligible Holders of Outstanding Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

The New Notes have not been and will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The New Notes have not been and will not be qualified for sale to the public by prospectus under applicable Canadian securities laws and, accordingly, any issuance of New Notes in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws.

PJT Partners LP and Barclays Capital Inc. are acting as dealer managers for the Exchange Offers and Consent Solicitations. Kroll Issuer Services Limited is acting as exchange agent and information agent for the Exchange Offers and Consent Solicitations.

This press release does not constitute an offer to sell or exchange or the solicitation of an offer to buy or exchange any securities and is also not a solicitation of the related consents, nor shall there be any exchange of the New Notes for Outstanding Notes pursuant to the Exchange Offers in any jurisdiction in which such exchanges would be unlawful prior to registration or qualification under the laws of such jurisdiction.

About EchoStar Corporation

EchoStar Corporation (Nasdaq: SATS) is a premier provider of technology, networking services, television entertainment and connectivity, offering consumer, enterprise, operator and government solutions worldwide under its EchoStar®, Boost Mobile®, Sling TV, DISH TV, Hughes®, HughesNet®, HughesON™, and JUPITER™ brands. In Europe, EchoStar operates under its EchoStar Mobile Limited subsidiary and in Australia, the company operates as EchoStar Global Australia.

©2024 EchoStar, Hughes, HughesNet, DISH and Boost Mobile are registered trademarks of one or more affiliate companies of EchoStar Corp.

Where You Can Find Additional Information

As noted above, further details regarding the terms and conditions of the Exchange Offers can be found in the Exchange Offering Memorandum. ANY ELIGIBLE HOLDER HOLDING OUTSTANDING NOTES IS URGED TO READ THE EXCHANGE OFFERING MEMORANDUM THAT HAS BEEN MADE AVAILABLE TO THEM BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT DBS, THE ACQUISITION TRANSACTION AND THE EXCHANGE OFFER.

For additional information regarding the Exchange Offers and Consent Solicitation, please contact: (i) PJT Partners LP at DISHDBS_Exchange@pjtpartners.com or (212) 364-7117 or (ii) Barclays Capital Inc. at us.lm@barclays.com or (800) 438-3242 (toll-free) or (212) 528-7581 (collect). Requests from Eligible Holders for the Exchange Offering Memorandum and other documents relating to the Exchange Offers and Consent Solicitations may be directed to Kroll Issuer Services Limited, the exchange agent and information agent for the Exchange Offers and Consent Solicitations, by sending an email to DISHDBS@is.kroll.com or by calling (855) 388-4578 (U.S. toll-free) or (646) 937-7769 (International). Eligible Holders will be required to confirm their eligibility prior to receiving the Exchange Offering Memorandum and other documents relating to the Exchange Offers and Consent Solicitations. Holders can certify eligibility on the eligibility website at: https://deals.is.kroll.com/dishdbs.

Forward-looking Statements

This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, including, in particular, statements about plans, objectives and strategies, growth opportunities in our industries and businesses, our expectations regarding future results, financial condition, liquidity and capital requirements, estimates regarding the impact of regulatory developments and legal proceedings, and other trends and projections. Forward-looking statements are not historical facts and may be identified by words such as “future,” “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “estimate,” “expect,” “predict,” “will,” “would,” “could,” “can,” “may,” and similar terms. These forward-looking statements are based on information available to us as of the date hereof and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control. Accordingly, actual performance, events or results could differ materially from those expressed or implied in the forward-looking statements due to a number of factors. Additional information concerning these risk factors is contained in each of EchoStar’s, DISH Network Corporation’s and DBS’s most recently filed Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and in EchoStar’s and DBS’s subsequent Current Reports on Form 8-K, and other Securities and Exchange Commission (“SEC”) filings, which are accessible on the SEC’s website at www.sec.gov. All cautionary statements made or referred to herein should be read as being applicable to all forward-looking statements wherever they appear. You should consider the risks and uncertainties described or referred to herein and should not place undue reliance on any forward-looking statements. The forward-looking statements speak only as of the date made. We do not undertake, and specifically disclaim, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Should one or more of the risks or uncertainties described herein or in any documents we file with the SEC occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. 

SOURCE EchoStar Corporation

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Technology

DuPont and Zhen Ding Technology Group Sign Strategic Cooperation Agreement to Advance High-End Printed Circuit Board Technology Development

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54 mins ago

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October 29, 2024

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SHENZEN, China, Oct. 29, 2024 /PRNewswire/ — DuPont (NYSE: DD) and Zhen Ding Technology Group (Zhen Ding) (4958-TW) announced they have entered into a strategic cooperation agreement in advanced printed circuit board (PCBs) technology. The signing ceremony, held yesterday at the Shenzhen Avary Time Center, was attended by Charles Shen, Chairman, Zhen Ding; Yi Zhang, President of the Asia Pacific Region, DuPont; and Thean Ming Tan, Global Business Director for Laminates, DuPont.

Through this strategic partnership, DuPont and Zhen Ding will work to enhance end-user applications, advance cutting-edge research and development, improve material performance, and promote the sustainable development of the electronics sector. Furthermore, they intend to deepen their cooperation in advancing smart manufacturing, corporate governance, and sustainability initiatives.

“As a leader in the global PCB industry, Zhen Ding possesses significant technical expertise and is open to collaborations that drive industry development,” said Yi Zhang, President, DuPont Asia Pacific Region. “DuPont is honored to partner with the best in the field to enhance customer service and unlock new innovative possibilities for the global electronics sector.”

DuPont is an industry leader in advanced interconnects and thermal management, providing solutions for chip fabrication, packaging, PCBs, and assembly. These solutions are critical for fostering breakthrough innovations vital for advanced computing and artificial intelligence. DuPont is committed to being the partner of choice for its customers, addressing the evolving demands in sectors such as advanced packaging, high-end substrates, AI applications, automotive electronics, high-frequency communications, and data centers. Through materials innovation, DuPont delivers superior quality solutions that empower customers to succeed both now and in the future.

“As a global leader in the electronic materials industry, DuPont possesses robust R&D, reliable quality, manufacturing capabilities, and a stable global supply chain. These are core competencies that Zhen Ding highly values,” said Charles Shen, Chairman, Zhen Ding Group. “In this partnership, both parties will integrate their respective resources, collaboratively explore growth opportunities, and exert a positive influence on the industry. Through comprehensive cooperation in the development of new materials and key technologies, we aim to address the industry’s demand for the complex performance of advanced PCBs and foster future innovations.”

About DuPont Electronics & Industrial
DuPont Electronics & Industrial is a global supplier of new technologies and performance materials serving the semiconductor, circuit board, display, digital and flexographic printing, healthcare, aerospace, industrial and transportation industries. From advanced technology centers worldwide, teams of talented research scientists and application experts work closely with customers, providing solutions, products, and technical services to enable next-generation technologies. http://electronics.dupont.com/

About DuPont 
DuPont (NYSE: DD) is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety. More information about the company, its businesses and solutions can be found at www.dupont.com. Investors can access information included on the Investor Relations section of the website at investors.dupont.com. 

About Zhen Ding Technology Holding Limited
Zhen Ding Technology Holding Limited (Taiwan Stock Exchange: 4958) specializes in the research, development, production, and sales variety of products, including flexible printed circuit board (FPC) and surface mount assembly (SMA), substrate-likes PCBs (SLP), high-density interconnect (HDI) PCBs, ultra-thin Mini LED board, multilayer rigid printed circuit boards (RPCB) and IC substrates (ICS). These products are widely used in end products such as computer information, consumer electronics, communications networks, automotive electronics, AI server high-speed computing, optical module and medical applications. The company offers professional one-stop shopping, full-solution services to customer worldwide. For more detailed information, please visit the company website: www.zdtco.com.

DuPont™, the DuPont Oval Logo, and all trademarks and service marks denoted with ™, ℠ or ® are owned by affiliates of DuPont de Nemours, Inc. unless otherwise noted. 

Cautionary Statement about Forward Looking Statements
This communication contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “target, “outlook,” “stabilization,” “confident,” “preliminary,” “initial,” and similar expressions and variations or negatives of these words. All statements, other than statements of historical fact, are forward-looking statements, including statements regarding outlook, expectations and guidance. Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties, and assumptions, many of which that are beyond DuPont’s control, that could cause actual results to differ materially from those expressed in any forward-looking statements.

Forward-looking statements are not guarantees of future results. Some of the important factors that could cause DuPont’s actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) the ability of DuPont to effect the separation transactions described above and to meet the conditions related thereto; (ii) the possibility that the separation transactions will not be completed within the anticipated time period or at all; (iii) the possibility that the separation transactions will not achieve their intended benefits; (iv) the impact of the separation transactions on DuPont’s businesses and the risk that the separations may be more difficult, time-consuming or costly than expected, including the impact on DuPont’s resources, systems, procedures and controls, diversion of management’s attention and the impact and possible disruption of existing relationships with customers, suppliers, employees and other business counterparties; (v) the possibility of disruption, including disputes, litigation or unanticipated costs, in connection with the separation transactions; (vi) the uncertainty of the expected financial performance of DuPont or the separated companies following completion of the separation transactions; (vii) negative effects of the announcement or pendency of the separation transactions on the market price of DuPont’s securities and/or on the financial performance of DuPont; (viii) the ability to achieve anticipated capital structures in connection with the separation transactions, including the future availability of credit and factors that may affect such availability; (ix) the ability to achieve anticipated credit ratings in connection with the separation transactions; (x) the ability to achieve anticipated tax treatments in connection with the separation transactions and completed and future, if any, divestitures, mergers, acquisitions and other portfolio changes and the impact of changes in relevant tax and other laws; (xi) risks and uncertainties related to the settlement agreement concerning PFAS liabilities reached June 2023 with plaintiff water utilities by Chemours, Corteva, EIDP and DuPont; (xii) risks and costs related to each of the parties respective performance under and the impact of the arrangement to share future eligible PFAS costs by and between DuPont, Corteva and Chemours, including the outcome of any pending or future litigation related to PFAS or PFOA, including personal injury claims and natural resource damages claims; the extent and cost of ongoing remediation obligations and potential future remediation obligations; changes in laws and regulations applicable to PFAS chemicals; (xiii) indemnification of certain legacy liabilities; (xiv) the failure to realize expected benefits and effectively manage and achieve anticipated synergies and operational efficiencies in connection with the separation transactions and completed and future, if any, divestitures, mergers, acquisitions, and other portfolio management, productivity and infrastructure actions; (xv) the risks and uncertainties, including increased costs and the ability to obtain raw materials and meet customer needs from, among other events, pandemics and responsive actions; (xvi) timing and recovery from demand declines in consumer-facing markets, including in China; (xvii) adverse changes in worldwide economic, political, regulatory, international trade, geopolitical, capital markets and other external conditions; and other factors beyond DuPont’s control, including inflation, recession, military conflicts, natural and other disasters or weather-related events, that impact the operations of the company, its customers and/or its suppliers; (xviii) the ability to offset increases in cost of inputs, including raw materials, energy and logistics; (xix) the risks associated with demand and market conditions in the semiconductor industry and associated end markets, including from continuing or expanding trade disputes or restrictions, including on exports to China of U.S.-regulated products and technology; (xx) the risks, including ability to achieve, and costs associated with DuPont’s sustainability strategy, including the actual conduct of the company’s activities and results thereof, and the development, implementation, achievement or continuation of any goal, program, policy or initiative discussed or expected; (xxi) other risks to DuPont’s business and operations, including the risk of impairment; (xxii) the possibility that the Company may fail to realize the anticipated benefits of the $1 billion share repurchase program announced on February 6, 2024 and that the program may be suspended, discontinued or not completed prior to its termination on June 30, 2025;  and (xxiii) other risk factors discussed in DuPont’s most recent annual report and subsequent current and periodic reports filed with the U.S. Securities and Exchange Commission. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business or supply chain disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on DuPont’s consolidated financial condition, results of operations, credit rating or liquidity. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. DuPont assumes no obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

 

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SOURCE DuPont

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Technology

Yape Peru’s Supper App and TerraPay join forces to accelerate digital inclusion

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54 mins ago

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October 29, 2024

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The partnership will benefit over 16 million users to receive remittances digitally

LIMA, Peru, Oct. 29, 2024 /PRNewswire/ — To promote financial inclusion and accessibility, TerraPay, a leading global money movement company, has partnered with Yape, the superapp of Peru. This collaboration will enable all participant partners in Terrapay Global network to send seamless international money transfers directly to Yape users, allowing them to instantly access their funds and take advantage of a wide array of financial services within the app.

With a population of 32 million, Peru has become a significant player in the remittance landscape, receiving US$4,446 million in remittances in 2023. The demand for efficient and user-friendly financial solutions is paramount, especially among the unbanked population, which stands at approximately 40% of the adult population in Peru. Yape, launched in 2017, has emerged as a critical tool for managing everyday finances, boasting over 16 million users and 13 million monthly active users, who engage in an impressive average of +40 transactions each month.

Yape is a popular digital wallet and mobile payment app in Peru, developed by Banco de Crédito del Perú (BCP). It enables users to make peer-to-peer transfers, pay for services, and conduct transactions with businesses using only a phone number or QR code, without the need for traditional bank account details. Yape has gained widespread adoption for its convenience and accessibility, especially among younger users and those without formal banking relationships, making it a critical tool for financial inclusion in the country. The app’s user-friendly interface and integration with a variety of financial services have contributed to its rapid growth and adoption, becoming a key player in Peru’s digital payments ecosystem with more than 16 million users, with approximately 5 million without formal banking relationships.

The partnership will allow Yape users to receive remittances from partners in the TerraPay’s network, eliminating the need for traditional disbursement methods and significantly streamlining the money transfer process. Users will be able to use the funds immediately in their Yape wallet to pay bills, top up their phones, transfer money to friends, purchase groceries, and more—all from within the Yape app.

The key benefits are:

Immediate Access: Yape users will no longer need to visit physical branches to receive international transfers, allowing for a more convenient and efficient process.Diverse Functionality: Users can immediately utilize the received funds across various app features, promoting a cashless economy and fostering greater financial inclusivity.Enhanced User Base: Over 5 million Yape users previously without access to BCP financial system will benefit significantly from this initiative, highlighting the transformative impact of digital wallets in underserved communities.

“By collaborating with TerraPay, we are not just improving the remittance process; we are enhancing the overall financial experience for millions of Peruvians,” said Carolina Arbulú, Head of Payments Products of Yape. “This partnership empowers users, especially those who have historically lacked access to banking services, to receive and utilize their money instantly, thereby integrating them into the digital economy.”

Ambar Sur, CEO of TerraPay, stated, “This partnership is a significant step towards achieving our vision of connecting a borderless financial world leveraging digital wallets. By partnering with Yape to become member of our global digital wallet network, we are not only facilitating easier remittance solutions but also empowering millions of individuals to take part in the global economy. We share a mutual commitment to financial inclusion and innovation, and together we will enhance the user experience for millions of Peruvians.”

The collaboration will cover all regions of Peru, allowing users to benefit from cross-border remittances originating from TerraPay’s extensive sender network, which encompasses nearly all countries. Key corridors for remittances include Chile, the USA, and Spain, which are critical to supporting the financial needs of Peruvian families and communities.

For more information about this partnership, please contact:
Juveria Samrin, juveria.n@terrapay.com 

About TerraPay:

TerraPay simplifies the movement of money everywhere – providing a single connection to the most expansive cross-border payments network regulated in 30+ global markets and enabling payments to 144+ receive countries, 210+ send countries, 3.7 Bn+ mobile wallets, 7.5 Bn+ bank accounts and 12 Bn+ cards. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent and fully compliant. TerraPay has built the global digital wallet interoperable network and pushes the boundaries for global businesses – ranging from digital wallets, banks, fintech and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is a global company headquartered in London and comprising 42 nationalities. It has global offices in Bangalore, Dubai, Bogota, Dar es Salaam, Kampala, The Hague, Johannesburg, Nairobi, Milan, and Singapore, and is expanding rapidly. We have received funding from leading investors, including the IFC (World Bank), Prime Ventures, Partech Africa, and Visa. 

About Yape:

It is the superapp of Peru, which has the support of the BCP, and to date has more than 16 million users. It currently offers more than 10 functionalities such as transferring money, bill payments, access to microcredits, cell phone recharges, exchanging dollars, receiving remittances, paying for services, ticketing, promos and others.

Logo: https://mma.prnewswire.com/media/1222771/TerraPay_Logo.jpg

 

View original content:https://www.prnewswire.co.uk/news-releases/yape-perus-supper-app-and-terrapay-join-forces-to-accelerate-digital-inclusion-302289569.html

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Technology

Toshiba TV Celebrates International Animation Day, Bringing Animation Classics to Life

Published

54 mins ago

on

October 29, 2024

By

HONG KONG, Oct. 29, 2024 /PRNewswire/ — As the world prepares to commemorate International Animation Day in October, Toshiba invites you to rediscover the magic of your animation classics on the cutting-edge television series: X9900, Z870, and Z670. Whether it’s the enchanting classics, the adventure-filled tales, or the groundbreaking CGI masterpieces, the Toshiba TV series is engineered to bring the magic back and help users rediscover the joy and wonder of these timeless classics, but with an upgraded experience that makes those cherished memories sparkle like never before.

Embark on an Adventure with Impeccable Visual and Surround Sound

Equipped with its stunning 4K OLED picture quality, the X9900 faithfully reproduces every vivid detail, texture, and movement of these beloved animated tales. Paired with the immersive Dolby Atmos surround sound system, viewers are transported straight back to the carefree days of their youth, surrounded by the endearing characters and fantastical worlds they grew up with.

Relive your Favorite Animation with The Filmmaker Mode

Featuring the revolutionary REGZA Engine ZRi, the Toshiba Z670 is equipped with The Filmmaker Mode that supported QLED TVs, which ensures viewers can relive their excitement on animation the same as the original film director visioned. The AI-powered technology automatically optimizes picture and sound quality to a cinematic level, providing an immersive viewing experience that allows you to fully dive into the timeless animated worlds.

Appreciate CGI Masterpiece with Vibrant Colors

From early cartoons to modern animated films that blend traditional and digital techniques, the Toshiba TV series allows animation fans to appreciate the evolution. Even for the most intricate animations, Mini LED Z870 handles them like a pro, as its Total HDR Solution delivers deeper contrasts and brighter, more vibrant colors for a truly cinematic experience of those cherished cartoon favorites.

This International Animation Day, rediscover the magic of your favorite animation with the Toshiba TV series. Let the superior audio-visual quality ignite your imagination and appreciation for the art of animation again, paying homage to the importance and beauty of this timeless medium.

For more information please visit: @Toshiba TV Global

About Toshiba TV:

With 70+ years of history in TV production, Toshiba TV is known for its exquisite craftsmanship, innovative ideas and groundbreaking inventions. By prioritizing superior image quality and auditory experiences, Toshiba TV sets new standards in entertainment. Toshiba TV stems from the excellence quest of customers, providing the world with responsible products to make the world a better place. Emphasizing attention to product details and technological advancement, Toshiba TV integrates aesthetically pleasing design, quality assurance, and brand reputation to underscore its commitment to authenticity in the actual world and a sincere dedication to its consumers, showcasing Toshiba TV’s long-standing design philosophy and continuous pursuit of product quality.

Photo – https://mma.prnewswire.com/media/2542845/image_5030810_13052201.jpg
Logo – https://mma.prnewswire.com/media/2382469/Toshiba_logo.jpg

View original content:https://www.prnewswire.com/news-releases/toshiba-tv-celebrates-international-animation-day-bringing-animation-classics-to-life-302289575.html

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