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OnTrac Secures Agreement With Lenders To Accelerate Growth As A National Pure-Play E-Commerce Delivery Platform

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Liquidity created by the transaction enables OnTrac to advance operational and growth initiatives, strengthen its financial profile, and continue its expansion as the only last-mile alternative to the national carriers.

VIENNA, Va., Nov. 15, 2024 /PRNewswire-PRWeb/ — OnTrac Final Mile (“OnTrac” or the “Company”), a leading last-mile delivery e-commerce parcel carrier, today announced it has reached an agreement with more than 85% of the holders of its first and second lien term loans for a comprehensive financing and exchange transaction that includes new debt financing, extended debt maturities, and other liquidity enhancements. All existing OnTrac lenders will be offered the opportunity to participate in the transaction.

OnTrac is the largest last-mile delivery company in the U.S. outside of the national carriers, reaching over 70% of the population in two days or less. The Company has a footprint of 16 highly automated sort centers and nearly 100 branches across the U.S. and recently completed its expansion to the Midwest and South-Central regions. OnTrac continues to invest in its network and expand its geographies served and value proposition with customers, offering same-day delivery, 7-day delivery, and transcontinental shipping, with additional near-term service launches on the horizon.

“This transaction will strengthen our balance sheet and enhance our ability to help current and future customers to provide excellent service to their consumers,” said OnTrac CEO Mike Duffy. “We will continue identifying new opportunities for growth, expanding our geographic reach, investing in technology and automation to improve the customer experience, and completing the transition from a super-regional to a national carrier.”

Evercore Group LLC served as exclusive financial advisor and Weil, Gotshal & Manges LLP served as exclusive legal advisor to the Company.

PJT Partners Inc. served as exclusive financial advisor and Gibson, Dunn & Crutcher LLP served as exclusive legal advisor to the ad hoc group of lenders.

About OnTrac Final Mile
OnTrac is a leading last-mile delivery solutions provider, serving e-commerce retailers. Headquartered in Vienna, Virginia, the Company’s footprint stretches across the United States to reach approximately 70% of the population in 35 states and Washington, D.C. and enhance retailers’ ability to meet growing demand in the consumer e-commerce delivery market. OnTrac has evolved into a critical part of the e-commerce infrastructure and is trusted by leading retailers and shippers that desire reduced transit times and increased flexibility within their supply chains. Learn more at http://www.ontrac.com or follow us on LinkedIn, Twitter, YouTube, or Facebook.

Media Contact

Caroline Taylor, OnTrac, (703) 662-2215, mediarelations@ontrac.com, www.ontrac.com 

View original content:https://www.prweb.com/releases/ontrac-secures-agreement-with-lenders-to-accelerate-growth-as-a-national-pure-play-e-commerce-delivery-platform-302307018.html

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Aviat Networks to Participate in Upcoming Investor Conferences

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AUSTIN, Texas, Jan. 9, 2025 /PRNewswire/ — Aviat Networks, Inc. (NASDAQ: AVNW), the leading expert in wireless transport and access solutions, today announced that it will participate in the following upcoming investor conferences.

27th Annual Needham Growth Conference to be held virtually on January 16, 202510th Annual Oppenheimer Emerging Growth Conference to be held virtually on February 26, 202537th Annual Roth Conference to be held in Dana Point, CA from March 16, 2025 to March 18, 2025

Investors interested in scheduling a meeting with the company should contact their representative at the respective institutions. All presentations and supplemental materials will be available under the Investor Relations section of Aviat’s website following the event.

About Aviat Networks, Inc.
Aviat is the leading expert in wireless transport and access solutions and works to provide dependable products, services and support to its customers. With more than one million systems sold into 170 countries worldwide, communications service providers and private network operators including state/local government, utility, federal government and defense organizations trust Aviat with their critical applications. Coupled with a long history of microwave innovations, Aviat provides a comprehensive suite of localized professional and support services enabling customers to drastically simplify both their networks and their lives. For more than 70 years, the experts at Aviat have delivered high performance products, simplified operations, and the best overall customer experience. Aviat is headquartered in Austin, Texas. For more information, visit www.aviatnetworks.com or connect with Aviat Networks on Facebook and LinkedIn.

Investor Contact
Andrew Fredrickson
Corporate Development and Investor Relations
(512) 582-4626
andrew.fredrickson@aviatnet.com

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SOURCE Aviat Networks, Inc.

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CREO Announces Leadership Appointments to Drive Continued Growth

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CREO, the preferred consultancy to the world’s most promising life sciences companies seeking to improve human health, announced today four leadership appointments designed to support the company’s continued growth.

DURHAM, N.C., Jan. 9, 2025 /PRNewswire-PRWeb/ — CREO, the preferred consultancy to the world’s most promising life sciences companies seeking to improve human health, announced today four leadership appointments designed to support the company’s continued growth.

Announced in September 2023, CREO’s strategic recapitalization from Grant Avenue Capital has accelerated its expansion in strategy, technology, and commercialization services to life sciences and healthcare organizations. To position the company for further growth, the new appointments include the following:

Mike Townley, CREO’s Co-Founder and President, has transitioned to a full-time role as CREO’s Chief Commercial Officer. In this capacity, Mike has assumed responsibility for driving business development and sales excellence across CREO’s rapidly expanding service portfolio, geographic footprint, and client base.Connie Pearcy, previously CREO’s Senior Managing Director, has been named the company’s first Chief Operating Officer. As CREO’s third employee, Connie has been instrumental in growing the organization and delighting its customers throughout the company’s history. With this appointment, she has assumed responsibility for all CREO service delivery.Bob Riefer, Managing Director, has been appointed practice area leader for all growth acceleration services. Bob’s deep consulting background and industry expertise make him an ideal leader for continuing CREO’s growth in value-creation engagements, including strategy, M&A, and product commercialization services.Roger Davy, Managing Director, has been appointed practice area leader for all technology services. With an extensive career in information technology and digital transformation, Roger has a long track record of success in areas such as enterprise and scientific IT, cybersecurity, and data sciences.

“I am thrilled to recognize these leaders in our company,” said Susan Acker-Walsh, CEO and Co-Founder of CREO. “In addition to enabling me to spend more time focusing on the future of our company, these leaders offer market-proven expertise to every client.”

CREO is an award-winning management consulting and advisory services firm specializing in value creation in growth-oriented life sciences and healthcare businesses. Since its founding in 2015, CREO has generated strong market momentum, placing numerous times on Inc. 5000 Fastest-Growing Companies, Inc. Regionals Mid-Atlantic Fastest-Growing Companies, and the Triangle Business Journal’s Fast 50 list.

“It’s an amazing milestone,” said Mike Townley, Co-Founder and Chief Commercial Officer. “Our people are the special sauce at CREO. We are fortunate to have such a powerful mix of people working with clients that are making a healthier world each day.”

About CREO

CREO is the preferred consultancy to the world’s most promising companies seeking to improve human health. We accelerate growth and value creation for life sciences, healthcare, and private equity portfolio companies worldwide through tailored consulting and operating solutions. With deep expertise in strategic planning, M&A, product commercialization, IT enablement, data sciences, and regulatory compliance, CREO has helped hundreds of organizations enhance business performance and advance clinical innovations. Founded in 2015 and headquartered in North Carolina’s Research Triangle Park, CREO is committed to making a better, healthier world. Visit us at www.creoconsulting.com.

Media Contact

Jason Burke, CREO, 1 919-589-1212, jburke@creoconsulting.com, https://creoconsulting.com/

View original content:https://www.prweb.com/releases/creo-announces-leadership-appointments-to-drive-continued-growth-302345554.html

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Rolling Wireless Introduces 5G Release 17 Automotive Module with NB-NTN Support

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RN941Y Module to Support Advanced Automotive OEM Programs and Enable Satellite-Based Connectivity for Vehicles Starting Production in 2027

LUXEMBOURG, Jan. 9, 2025 /PRNewswire/ — Rolling Wireless, the world’s leading supplier of connectivity solutions for the automotive industry, today announced the launch of its first automotive-grade 5G Release 17 and NB-NTN Network Access Device (NAD)

The RN941Y module will bring seamless connectivity to the next generation of vehicles, even in areas where terrestrial networks are unavailable. 

Advanced Capabilities for Seamless Connectivity 

With Release 17, the global 5G standard now includes specifications for non-terrestrial networks. The full integration of NTN in the 3GPP ecosystem enables devices—including vehicles—to connect directly to satellites, paving the way for reliable communication in areas without terrestrial coverage.  

The RN941Y module offers NB-NTN satellite communication as an option. It supports multiple NB-NTN bands, enabling services such as roadside or medical assistance, fleet tracking (vehicle location), and messaging in remote and underserved areas. 

By incorporating support for NB-NTN into its NAD portfolio, Rolling Wireless is addressing one of the key challenges of automotive connectivity: enabling the availability of critical communication services anywhere and anytime. 

The RN941Y will also integrate memory with higher density and better performances for boot and reliability, in accordance with the latest automotive requirements. 

Easy Evolution Path

The RN941Y module is designed to offer automotive OEMs a seamless upgrade path to the latest technology. It features a compatible form factor and footprint as Rolling Wireless’ existing range of 5G NADs. 

The module supports 4×4 downlink MIMO and 2×2 uplink MIMO with up to 200MHz of downlink spectrum. It also provides flexibility with support for 5G sub-6 bands in both NSA and SA modes, plus seamless fallback to LTE, WCDMA, and 2G across worldwide cellular networks. 

Equipped with a powerful quad-core ARM Cortex A55 processor, the RN941Y module allows automotive OEMs and Tier 1 suppliers to develop Linux-based connectivity units for a wide range of present and future applications.  

Like all Rolling Wireless NADs, it is delivered with an ultra-flexible NAD Software Platform (NSP) designed to optimize and speed up the connected vehicle application development process. 

The RN941Y 5G Release 17 and NB-NTN NAD will be available for integration in vehicle models with start of production in 2027. Engineering samples for global markets will be available in the first half of 2025.  

Meet Rolling Wireless at CES in Las Vegas 

Rolling Wireless is showcasing its latest connectivity solutions at CES in Las Vegas from January 7th to 11th. To schedule a meeting: rollingwireless.com/en/contact

About Rolling Wireless  

Rolling Wireless is the world’s leading supplier of Network Access Devices (NADs) to the automotive industry, with over 60 million automotive-grade cellular modules shipped to date.    

Building on more than two decades of innovation and operational excellence, Rolling Wireless helps automotive OEMs and Tier 1 suppliers create applications that enhance safety, delight drivers, and generate additional revenue. The company’s unique open-source software platform enables customers to build Linux-based connectivity units on a single module.   

Rolling Wireless was established as an independent company in 2020, with the divestiture of Sierra Wireless’ automotive business unit. Headquartered in Luxembourg, the company employs more than 300 automotive experts worldwide. 

www.rollingwireless.com

Click here for more details about our booth at: https://ces25.mapyourshow.com/8_0/exhibitor/exhibitor-details.cfm?exhid=001Pp00000HwmaMIAR.

View original content:https://www.prnewswire.com/news-releases/rolling-wireless-introduces-5g-release-17-automotive-module-with-nb-ntn-support-302347400.html

SOURCE Rolling Wireless

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