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Scripps announces a series of transactions to refinance its revolver and 2026, 2028 term loans

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CINCINNATI, March 11, 2025 /PRNewswire/ — The E.W. Scripps Company (NASDAQ: SSP) has entered into a transaction support agreement (TSA) with lenders representing more than 70% of the aggregate principal amount of Scripps’ outstanding tranche B-2 term loans due May 2026 and tranche B-3 term loans due June 2028. The company has also entered into commitment letters with accounts receivable securitization providers for a new A/R securitization facility and its revolving banks to extend a portion of its revolving credit facility through July 2027. These transactions will provide Scripps the runway and liquidity to continue the progress of its strategic and operating initiatives. 

The transactions include:

Repayment or extension of up to $1.3 billion of existing term loans
The initial consenting lenders holding existing B-2 term loans will exchange certain of their existing B-2 term loans (not otherwise repaid as part of these transactions) for new B-2 term loans due June 2028 and initial consenting lenders holding existing B-3 term loans will exchange their existing B-3 term loans for a combination of new B-2 term loans and new B-3 term loans due November 2029.
  New committed financings to support successful execution of the transactions
The company executed commitment letters with new lenders to provide for a $450 million accounts receivable securitization facility, with a portion of such proceeds used to partially repay the existing B-2 term loans and certain initial consenting holders to provide new B-2 term loans, the proceeds of which will be used for cash repayment of any existing B-2 term loans not exchanged or repaid with the proceeds of the accounts receivable securitization facility.
  Commitment to enter into a new revolving credit facility to support go-forward liquidity
The company executed a commitment letter with certain existing lenders to provide a new $208 million revolving credit facility due July 2027. The new revolving credit facility will extend and substantially replace a portion of the company’s existing revolving credit facility, with the remaining committed amount of the existing revolver still available for draw.

All holders of existing B-2 term loans and existing B-3 term loans will be offered the opportunity to exchange their term loans for new B-2 term loans and/or new B-3 term loans, as applicable.

Following the transactions, no existing B-2 term loans will remain outstanding. Existing B-3 term loans that remain outstanding after the transaction will be subordinated in right of payment to the new B-2 term loans, new B-3 term loans, new revolving credit facility and non-extended revolving credit facility. The company expects to complete the transactions by April.

“Our agreement includes a series of actions to transform Scripps’ balance sheet and strengthen our ability to implement key strategic initiatives that support our ongoing transformation,” Scripps Chief Financial Officer Jason Combs said. “We are grateful for the broad-based support from our existing and new investors that contributed to this attractive refinancing. As we move forward, we remain focused on improving the company’s operating performance, managing our debt and positioning the company for the future.”

The company will file a Form 8-K with the Securities and Exchange Commission that will contain further details regarding the terms of the transactions. The foregoing descriptions of the transactions do not purport to be complete and are qualified in their entirety by reference to the Form 8-K and TSA.

Simpson Thacher & Bartlett LLP served as counsel and Perella Weinberg Partners served as financial advisor to the company. Davis Polk & Wardwell LLP served as counsel and Moelis & Company LLC served as financial advisor to an ad hoc group of certain of the initial consenting holders. Cahill Gordon & Reindel LLP acted as counsel to JPMorgan Chase Bank, N.A., as left lead arranger with respect to the new revolving credit facility. Mayer Brown LLP served as counsel to PNC Bank, National Association, as administrative agent and a lender with respect to the new accounts receivable securitization facility. Orrick Herrington & Sutcliffe LLP served as counsel to KKR Credit Advisors (US) LLC, on behalf of itself, certain of its affiliates and its or their managed funds and accounts, as a lender with respect to the new accounts receivable securitization facility.

This press release is not intended to be, and does not constitute, an offer to sell, buy or subscribe for any securities or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. In particular, this communication is not an offer of securities for sale into the United States or any other jurisdiction. No offer of securities shall be made absent registration under the Securities Act of 1933, as amended, or pursuant to an exemption from, or in a transaction not subject to, such registration requirements.

Forward-looking statements
This document contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “believe,” “anticipate,” “intend,” “expect,” “estimate,” “could,” “should,” “outlook,” “guidance,” and similar references to future periods. Examples of forward-looking statements include, among others, statements the company makes regarding expected operating results and future financial condition. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations, and assumptions regarding the future of the industry and the economy, the company’s plans and strategies, anticipated events and trends, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, and changes in circumstance that are difficult to predict and many of which are outside of the company’s control. The company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: change in advertising demand, fragmentation of audiences, loss of affiliation agreements, loss of distribution revenue, increase in programming costs, changes in law and regulation, the company’s ability to identify and consummate strategic transactions, the controlled ownership structure of the company, and the company’s ability to manage its outstanding debt obligations. These statements include, but are not limited to, statements related to the transactions described above, including the company’s ability to complete any of the transactions on the terms contemplated by the TSA (and related commitment letters), on the timeline contemplated or at all, and the company’s ability to realize the intended benefits of any such transactions.

A detailed discussion of such risks and uncertainties is included in the company’s Form 10-K, on file with the SEC, in the section titled “Risk Factors.” Any forward-looking statement made in this document is based only on currently available information and speaks only as of the date on which it is made. The company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.

Media contact: Becca McCarter, The E.W. Scripps Company, (513) 410-2425, rebecca.mccarter@scripps.com
Investor contact: Carolyn Micheli, The E.W. Scripps Company, (513) 313-5910, carolyn.micheli@scripps.com

About Scripps
The E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating a better-informed world. As one of the nation’s largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of more than 60 stations in 40+ markets. Scripps reaches households across the U.S. with national news outlets Scripps News and Court TV and popular entertainment brands ION, ION Plus, ION Mystery, Bounce, Grit and Laff. Scripps is the nation’s largest holder of broadcast spectrum. Scripps is the longtime steward of the Scripps National Spelling Bee. Founded in 1878, Scripps’ long-time motto is: “Give light and the people will find their own way.”

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SOURCE The E.W. Scripps Company

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GRE Alpha to Showcase Innovative LED Driver Solutions with LumiFree™ Light Distribution Technology at LEDucation 2025

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GRE Alpha, a global leader in LED power solutions, will exhibit cutting-edge LED drivers and control systems that power LumiFree™ light distribution technology at LEDucation 2025.

NEW YORK, March 15, 2025 /PRNewswire-PRWeb/ — GRE Alpha, a global leader in LED power solutions, will exhibit cutting-edge LED drivers and control systems that power LumiFree™ light distribution technology at LEDucation 2025.

LEDucation attendees are invited to visit GRE Alpha at Booth #205 to experience innovations firsthand and discuss how these solutions can be customized for specific project requirements.

Visitors to Booth #205 will experience firsthand how this powerful combination solves traditional challenges associated with manual lighting controls while offering superior flexibility and performance.

The showcase at the annual trade show and conference organized by the Designers Lighting Forum of New York will take place at the New York Hilton Midtown on March 18-19, 2025.

Visitors to GRE Alpha’s booth will witness live demonstrations highlighting the system’s wireless capabilities across multiple control protocols, including Bluetooth Low Energy (BLE), Wi-Fi, 0-10V, DALI, and DMX.

The GRE Alpha and LumiFree™ combination offers several key advantages:

Enhanced Control Flexibility: LumiFree™ technology enables electrical control of light spread and independent two-axis light distribution control (horizontal and vertical), representing a breakthrough in lighting customization with applications across general lighting, specialized lighting, and optical inspection systems.Simplified Integration: GRE Alpha’s LED drivers seamlessly integrate with a wide range of luminaire designs, allowing OEMs complete freedom in their mechanical requirements.Extended Product Lifespan: The elimination of mechanical control components reduces wear and failure points, significantly enhancing system reliability and longevity.Greater Automation Capabilities: With wireless connectivity and advanced programming options, lighting systems can be easily updated, monitored, and controlled remotely.Reduced Installation Complexity: Wireless controls eliminate the need for additional control wiring, simplifying installation and reducing associated costs.

The technology supports a wide range of applications, including architectural lighting, commercial installations, industrial applications, smart building integration, and retail and hospitality environments.

LEDucation attendees are invited to visit GRE Alpha at Booth #205 to experience these innovations firsthand and discuss how these solutions can be customized for specific project requirements.

About GRE Alpha

GRE Alpha is dedicated to the design and manufacture of high-quality power supplies and lighting control accessories that meet the needs of the lighting industry. With more than two decades of power conversion expertise, GRE Alpha provides OEM and ODM services to lighting manufacturers and offers a comprehensive portfolio of LED drivers and lighting control modules to global lighting brands.

For more information, visit www.grealpha.com/contact.

About LEDucation

LEDucation, presented by the Designers Lighting Forum of New York, is the largest LED-only trade show and conference in the United States. The event connects lighting design professionals with manufacturers, allowing attendees to explore cutting-edge innovations in LED technology.

For more information, visit https://leducation.org/

Media Contact

Marina Milutinovic, GRE Alpha, 1 (770) 538-0630, marina@grealpha.com, https://grealpha.com/ 

View original content to download multimedia:https://www.prweb.com/releases/gre-alpha-to-showcase-innovative-led-driver-solutions-with-lumifree-light-distribution-technology-at-leducation-2025-302402290.html

SOURCE GRE Alpha

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Mitolyn Alerts Consumers About Misleading Third-Party Resellers and Reinforces Commitment to Product Integrity

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NEW YORK, March 15, 2025 /PRNewswire/ — The official brand behind Mitolyn has issued a public advisory regarding unauthorized third-party resellers misrepresenting the product online. Reports of unverified vendors listing non-official versions of Mitolyn across various platforms have surfaced, leading to confusion among consumers.

The official Mitolyn brand has been receiving complaints from individuals who unknowingly made purchases from unverified sources, later realizing discrepancies in packaging, labeling, and product details. This has raised concerns about authenticity and product integrity, as the original product was developed only under Bioventra’s portfolio of advanced formulations.

In response to these growing concerns, the company has issued an official statement emphasizing that Mitolyn should only be purchased through its official website to ensure quality and authenticity.

 

Unverified Resellers Causing Widespread Confusion

In recent weeks, multiple consumer reports have highlighted the increasing prevalence of unauthorized sellers listing Mitolyn outside of the brand’s verified distribution channels. This issue is not unique to Mitolyn, as the broader supplement industry has faced similar challenges with third-party vendors presenting themselves as legitimate sources.

The official brand has actively monitored unauthorized listings and is committed to raising awareness about the potential risks associated with purchasing from unknown third-party vendors.

While some unauthorized sellers may present Mitolyn as genuine, discrepancies in packaging, ingredients, and descriptions have raised red flags. Some consumers have reported receiving products that appear different from what is shown on official materials, while others have struggled with returns and refund processes due to unclear seller policies.

 

Customer Complaints Highlight Need for Greater Awareness

Consumer reports received by the official Mitolyn brand have included concerns such as:

Product inconsistencies – Some customers noted that the labeling, logo placement, or product descriptions did not match official representations.Ingredient discrepancies – While the core formulation of Mitolyn remains proprietary, there have been concerns about whether third-party products match the expected ingredient profile.Unclear storage conditions – Customers have questioned whether Mitolyn’s third-party resellers handle and store the product correctly, as dietary supplements require specific conditions to maintain quality.Limited customer support – Many individuals who purchased Mitolyn from non-official sources found that customer service inquiries went unanswered, leaving them unable to address concerns or seek refunds.

A spokesperson for the official Mitolyn brand commented:
 “We take product integrity seriously and are committed to ensuring that consumers receive only authentic formulations. Unfortunately, unauthorized sellers sometimes misrepresent products, leading to confusion. We encourage customers to remain vigilant when verifying sources.”

 

The Rise of Unauthorized Supplement Sellers

Unauthorized supplement resellers have become a growing issue across various e-commerce platforms, social media marketplaces, and third-party retail websites. Many third-party sellers attempt to capitalize on Mitolyn’s demand, sometimes presenting products at unrealistic discounts or listing them in ways that do not align with official brand communications.

This trend has led to several industry-wide concerns, including:

Unverified product origins – Some sellers source products through unauthorized means, making it difficult for consumers to determine where and how the product was handled before purchase.Potential product substitutions – In some cases, third-party vendors list a product under a brand name, Mitolyn, for instance, but ship alternative formulations or lookalike substitutes.Misleading discount strategies – Some resellers attempt to lure in customers with extremely low prices, which can indicate unverified stock or repackaged items.

While Mitolyn’s official brand is actively monitoring unauthorized sales, the company emphasizes that consumers should take proactive steps to avoid misleading listings.

 

How Consumers Can Identify Official Product Sources

Consumers can take several steps to avoid misleading third-party listings and ensure they are purchasing authentic products. It is important to examine product details carefully, checking for inconsistencies in labeling, packaging, or branding that may indicate a non-official Mitolyn version. Pricing should also be reviewed with caution, as significantly lower prices than usual may suggest an unauthorized seller. Verifying the legitimacy of the seller by researching whether they are recognized as an authorized distributor can help prevent confusion. Lastly, consumers are encouraged to confirm product details through official channels to ensure accuracy and authenticity.

 

Company Response & Consumer Safety Commitment

The official Mitolyn brand has reaffirmed its commitment to consumer safety, product integrity, and transparency. With the increase in unauthorized sales, the company remains focused on educating customers about product authenticity.

“We are committed to making sure that individuals who seek out Mitolyn receive the correct formulation as originally designed. By raising awareness about misleading third-party listings, we hope to prevent unnecessary confusion and ensure a positive customer experience,” the spokesperson added.

Additionally, the company is actively monitoring third-party sales channels and taking steps to minimize unauthorized Mitolyn product listings that could misrepresent the brand.

 

Final Advisory for Consumers

With misleading third-party listings continuing to appear across various online marketplaces, consumers are encouraged to be diligent in verifying sources before making a purchase. The official Mitolyn brand has issued this advisory to help prevent further confusion and misinformation.

For updates regarding product authenticity and verification measures, consumers can refer to official sources.

Photo – https://mma.prnewswire.com/media/2642391/Bioventra_Inc.jpg

View original content:https://www.prnewswire.co.uk/news-releases/mitolyn-alerts-consumers-about-misleading-third-party-resellers-and-reinforces-commitment-to-product-integrity-302402432.html

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Muon Space Deploys FireSat Protoflight, Marking a Major Milestone in Global Wildfire Monitoring

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Initial FireSat satellite is healthy, paving the way for improved real-time wildfire intelligence and future constellation expansion

MOUNTAIN VIEW, Calif., March 15, 2025 /PRNewswire/ — Muon Space, an end-to-end space systems provider, has successfully launched the FireSat Protoflight satellite, marking a significant milestone in the deployment of the FireSat constellation. This groundbreaking initiative aims to transform global wildfire detection, monitoring, and response.

Designed and built by Muon Space—including its state-of-the-art six-channel multispectral infrared (IR) instrument—FireSat showcases the company’s expertise in delivering fully integrated, mission-tailored satellite systems from concept to operation. Launched aboard SpaceX’s Transporter 13 rideshare mission on March 14 from Vandenberg Space Force Base, Muon Space has successfully established communications with the satellite and confirmed its operational health.

“The FireSat mission exemplifies Muon Space’s ability to rapidly design, build, and deploy high-performance remote sensing systems tailored to address complex, real-world challenges,” said Jonny Dyer, CEO of Muon Space. “FireSat is just the beginning—we are demonstrating how purpose-built constellations can deliver transformative solutions at the speed our customers and partners require.”

Announced in May 2024, the FireSat Constellation is a collaboration between Muon Space and Earth Fire Alliance, combining Muon’s expertise in space-based remote sensing with the Alliance’s deep knowledge of wildfire management and response strategies. This partnership aims to enhance global wildfire response, management, and situational awareness by providing actionable data to first responders, policymakers, and communities facing escalating wildfire threats.

Working closely with hundreds of members of the federal, state, and local fire communities, Muon Space developed the FireSat system and delivered its first satellite to orbit in just 16 months. The initiative has been supported by leading NGOs and philanthropic organizations, including Environmental Defense Fund, the Gordon and Betty Moore Foundation, and others.

“Designing and building an advanced infrared instrument capable of detecting wildfires with high confidence required significant scientific and engineering innovation,” said Dan McCleese, Chief Scientist of Muon Space. “This achievement underscores Muon Space’s ability to push the boundaries of space-based observation, advancing not only wildfire intelligence but also a broad range of critical operational, scientific, and security applications.”

The planned 50+-satellite constellation will eventually provide global coverage with each point on Earth observed every 20 minutes with key wildfire-prone regions benefiting from more frequent observations.

“FireSat is a game-changer for wildfire response,” said Brian Collins, Executive Director of Earth Fire Alliance. “For too long, decision-makers have relied on outdated or incomplete fire data. FireSat is poised to provide persistent, high-fidelity, and detailed information that will empower end users to save more lives and structures, better protect ecosystems, and reduce economic losses.”

Muon is currently developing three additional satellites, which will launch in 2026. FireSat is expected to reach full operational capacity by 2030.

About Muon Space

Founded in 2021, Muon Space is an end-to-end Space Systems Provider that designs, builds, and operates LEO satellite constellations delivering mission-critical data. Our revolutionary, integrated technology stack, Halo enables customers to optimize every dimension of their missions for faster time-to-orbit and superior constellation remote sensing performance. Our state-of-the-art facilities in CA are optimized for manufacturing spacecraft and rapid, flexible payload integration at scale. From earth observation to national security, Muon Space is dedicated to delivering Earth Intelligence for a safer and more resilient world.

For more information on Muon Space, visit: https://www.muonspace.com/

About Earth Fire Alliance

Earth Fire Alliance is a California Nonprofit Public Benefit Corporation founded in 2024 on the belief that high-fidelity data, accessible on a global scale, will transform humanity’s collective approach and relationship to fire. The Alliance shares a vision of expanding wildfire focus and funding from reactive suppression to proactive stewardship that includes better informed real-time decisions on the ground, data-driven resilience initiatives, and improved understanding about the positive and negative role of fire on the landscape. Committed to delivering transformative real-time data from all wildfires on Earth through user-driven technology and radical collaboration, Earth Fire Alliance champions the FireSat satellite constellation. FireSat will deliver unprecedented data about where fires are and how fast they’re moving to frontline fire responders around the globe.

Learn more about the Alliance, FireSat, and how to get involved or support at https://www.earthfirealliance.org/

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SOURCE Muon Space

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