Technology

HONEYWELL ANNOUNCES LEADERSHIP TEAM AND COMPANY NAME FOR ADVANCED MATERIALS SPIN-OFF

Published

4 days ago

March 25, 2025

Leadership team selections include Dr. Rajeev Gautam as Chairman of the Board, David Sewell as President and CEO and Tina Pierce as CFOIndependent company will be named Solstice Advanced MaterialsHeadquarters will be located in Morris Plains, New Jersey

CHARLOTTE, N.C., March 25, 2025 /PRNewswire/ — Honeywell (Nasdaq: HON) today announced key leadership roles for its Advanced Materials business, which will be named Solstice Advanced Materials after its tax-free spin to shareholders targeted to be completed by late 2025 or early 2026. The independent company will be headquartered in Morris Plains, New Jersey.

Solstice Advanced Materials will be a publicly traded, sustainability-focused, specialty chemicals and materials pure play. With nearly $4 billion in revenue last year, Solstice Advanced Materials will offer leading technologies with premier brands, including the Solstice® hydrofluoroolefin technology.

Ahead of the planned spin-off, Honeywell has announced several members of the new company’s leadership team:

Dr. Rajeev Gautam has been selected to serve as non-executive Chairman of the Board of Directors, effective on completion of the spin. Gautam brings more than four decades of experience at Honeywell in the process technologies and advanced materials sectors. Prior to his retirement in 2021, he served as President and Chief Executive Officer of Honeywell Performance Materials and Technologies (PMT) and also previously served as President of Honeywell UOP. He currently serves on the board of directors of NN, Inc.

David Sewell will join as President and Chief Executive Officer of the Advanced Materials business, effective immediately. He is expected to retain this title with the new company upon completion of the spin. Sewell brings more than 30 years of experience in the materials and chemicals industries, having most recently served as the President and Chief Executive Officer of WestRock Company. Prior to this, he was the President and Chief Operating Officer of The Sherwin Williams Company and spent more than 15 years in General Electric’s Plastics and Advanced Materials Division. He currently serves on the boards of directors of the National Association of Manufacturers and Huntsman Corporation.

Tina Pierce has been named Chief Financial Officer of the Advanced Materials business, effective May 1, 2025. She is expected to retain this title with the new company upon completion of the spin. Pierce is currently the Vice President and Chief Financial Officer of Honeywell Industrial Automation and has over 25 years of experience at Honeywell as a global Chief Financial Officer of several major business segments, including Performance Materials and Technologies and Home and Building Technologies. Pierce previously served on the board of directors of Garrett Motion, Inc.

Jeff Dormo and Simon Mawson will be promoted to lead Solstice Advanced Materials’ two business segments, each taking on the role of Senior Vice President and General Manager. Both currently lead business units of Honeywell Advanced Materials and bring a significant range of experience in the chemicals and specialty materials industry, with a focus on business growth and strengthening customer relationships.

“We are pleased to have this accomplished team lead Solstice Advanced Materials, and I have incredible confidence in their ability to innovate and grow the business moving forward,” said Vimal Kapur, Chairman and CEO of Honeywell. “Rajeev’s 43-year career as a leader in Honeywell’s Process Technologies and Advanced Materials businesses combined with David’s experience overseeing a multi-year transformation strategy as CEO of a publicly traded company make them the ideal leaders.”

Kapur added, “With a trusted legacy built from its breakthrough low global warming Solstice® technology and its next-generation chemistry advances, Solstice Advanced Materials is already well-positioned to be a leader in the specialty chemicals and materials market.”

In addition to its headquarters in Morris Plains, New Jersey, Solstice Advanced Materials will have teams located in Charlotte, Houston, Dublin, Shanghai, Tokyo, Bangalore, Bucharest and Mexico City. The independent company will maintain its global manufacturing footprint along with additional R&D sites. With a large-scale domestic manufacturing base, Solstice Advanced Materials will be positioned to benefit from a compelling investment profile and a more flexible and optimized capital allocation strategy.

Honeywell’s Portfolio Optimization
On October 8, 2024, Honeywell announced its plan to spin off its Advanced Materials business into an independent, U.S. publicly traded company. Following that announcement, on February 6, 2025, Honeywell announced a full separation of its Aerospace Technologies business, which is expected to be completed in the second half of 2026 in a manner that is tax-free to Honeywell shareholders.

Since December 2023, Honeywell has announced a number of strategic actions to drive organic growth and simplify its portfolio. This includes approximately $11 billion of accretive acquisitions: the Access Solutions business from Carrier Global, Civitanavi Systems, CAES Systems, the LNG business from Air Products and Sundyne. In addition, Honeywell entered into an agreement to divest its Personal Protective Equipment business, which is expected to close in the first half of 2025.

About Honeywell
Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world’s toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future and include statements related to the proposed spin-off of the Company’s Advanced Materials business into a stand-alone, publicly traded company and the proposed separation of Automation and Aerospace. They are based on management’s assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments, and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as lower GDP growth or recession, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K, and our other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.

Contacts:

Media

Investor Relations

Stacey Jones

Sean Meakim

(980) 378-6258

(704) 627-6200

Stacey.Jones@honeywell.com

Sean.Meakim@honeywell.com

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SOURCE Honeywell

Technology

JEGI CLARITY Has Advised Ai4 on Their Sale to CloserStill Media

Published

2 hours ago

March 29, 2025

NEW YORK, March 28, 2025 /PRNewswire/ — Ai4, advised by JEGI CLARITY, has been sold to CloserStill Media.

As the largest AI industry event in the U.S., Ai4 is considered the premier cross-industry conference and exhibition for organizations harnessing AI to drive innovation and transformation. Established in 2018, it serves as a platform for AI/ML experts, IT leadership, business CxOs, and Fortune 500 decision-makers to explore the full AI value chain – from infrastructure to applications.

The acquisition by CloserStill will help Ai4 accelerate growth even further. Ai4 will seamlessly integrate into CloserStill’s well-established business technology portfolio, further strengthening its global influence and market leadership. This strategic move bolsters CloserStill’s presence and reach in the U.S. and marks its first major technology event in the region.

About JEGI CLARITY
JEGI CLARITY is a pre-eminent M&A advisory firm for the media, events, marketing, information and technology industries. With a global reach from New York, London, Boston, and Sydney, we have closed more than 800 transactions during our 35+ year history. For more information, visit www.jegiclarity.com.

Contact: Kelsey Kovachik, Vice President of Marketing
+1 212 754 0710 | kkovachik@jegiclarity-us.com | www.jegiclarity.com/

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Technology

Afficient Academy Launches AI-Driven SAT Preparation Suite

Published

3 hours ago

March 29, 2025

Maximize SAT Success with Personalized, Adaptive Learning.

SAN JOSE, Calif., March 28, 2025 /PRNewswire-PRWeb/ — Afficient Academy, a leader in AI-driven education solutions, proudly announces the launch of its groundbreaking SAT Preparation Suite, empowering students to efficiently maximize their SAT scores, and transforming SAT preparation from overwhelming to overachieving!

Afficient’s AI-Driven SAT Preparation Suite helps achieve high scores efficiently.

Building on the success of its AI-driven K-12 programs Afficient Math and Afficient English, which have been proven to help students learn 2-5 times faster than traditional methods while achieving superior results, Afficient Academy now brings its advanced technology to SAT preparation.

With its data-driven, AI-powered approach, Afficient Academy’s SAT Preparation suite leverages:

Over 3,000 comprehensive and rigorous exercises to build essential skills

Targeted and personalized learning paths to accelerate learning

Eight full-length digital SAT practice tests and customized post-test practice to enhance test-taking confidence and performance.

AI-Powered Comprehensive SAT Mastery

Afficient Academy’s SAT Preparation suite includes three meticulously designed products:

Afficient SAT Math – Covers Algebra, Problem Solving and Data Analysis, Advanced Math, Geometry & Trigonometry, ensuring thorough understanding of mathematical concepts and mastering of problem-solving skills.Afficient SAT Reading & Writing – Enhances skills in Craft and Structure, Information and Ideas, Standard English Conventions, and Expression of Ideas, building strong reading comprehension and writing proficiency.Afficient SAT/ACT Vocabulary – Features 1,500 primary words and 2,000+ additional words, efficiently enhancing vocabulary knowledge and retention through adaptive exercises in word recognition and application.

Key Features and Benefits

Comprehensive Content Coverage – Master all SAT areas, including Vocabulary, Reading, Writing and Math, with in-depth instruction, helpful test-taking strategies, and extensive practice exercises.

AI-Powered Personalization – Predicts performance, customizes exercises, and tailors learning strategies to help students achieve their target SAT scores.

Proven Learning Acceleration – Afficient Academy’s patented technology delivers a result-oriented, optimized learning path to close learning gaps and efficiently achieve learning goals.

Full-Length Digital Practice Tests – Comprehensive digital practice exams assess student readiness, followed by customized post-test practice.

Flexible Learning Options – Offers both self-paced learning and instructor-led courses, catering to diverse student needs.

Expert-Designed Curriculum – Created by experienced education and technology professionals with a proven track record in delivering successful K-12 math and English learning solutions.

“We are thrilled to introduce an innovative SAT preparation platform that personalizes and accelerates student learning,” said Dr. Jiayuan Fang, President and CEO of Afficient Academy. “Our mission is to empower students with cutting-edge technology that enables them to reach their full academic potential.”

Availability

Afficient Academy’s AI-driven SAT Preparation Products are now available and can be accessed at:

https://www.afficienta.com/sat-test-preparation/

About Afficient Academy, Inc.

Founded in 2014 in Silicon Valley Californai, Afficient Academy is a pioneer in AI-powered learning solutions for math and English education. With patented, WASC-accredited programs used by thousands of students in 20+ countries, Afficient Academy delivers efficient, accelerated learning experiences that drive academic success.

Press Contact

Dilip Acharya

VP of Business Development and Marketing

dilip.acharya@afficienta.com

408-382-9458

Media Contact

Dilip Acharya, Afficient Academy, Inc., 1 4086277590, dilip.acharya@afficienta.com, https://afficienta.com

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Technology

WELL Health Announces Delay in Filing of Annual Audited Financial Statements Due to Matter Related to US Subsidiary Circle Medical

Published

3 hours ago

March 29, 2025

VANCOUVER, BC, March 28, 2025 /PRNewswire/ – WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) (“WELL” or the “Company”), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, announces that it will be delaying the filing of its audited annual consolidated financial statements for the year ended December 31, 2024, the related management’s discussion and analysis, and related CEO and CFO certificates (collectively, the “Required Filings”) beyond the March 31, 2025 deadline (the “Deadline”).

The delay is resulting from the accounting implications related to the Company’s non-wholly owned Delaware subsidiary Circle Medical Technologies, Inc. (“Circle Medical”), as described in further detail below. In fiscal 2023, Circle Medical contributed a net loss of $1.1 million to WELL’s consolidated net income of $16.6 million and contributed less than 2.7% to WELL’s consolidated Adjusted EBITDA(1).

In September 2024, Circle Medical received a request for the voluntary production of documents and information (“RFI”) from the Civil Division of the United States Attorney’s Office for the Northern District of California (“USAO”) investigating certain of Circle Medical’s billing practices in the US. Circle Medical has been responding to the RFI and engaging with the USAO to address and resolve this matter. Additional information and analysis regarding the impact of the USAO RFI is necessary in order to finalise Circle Medical’s financial statements and by extension, the Company’s annual consolidated financial statements for the year ended December 31, 2024. The production of information by Circle Medical and analysis by the Company for the financial statements is not expected to be completed prior to the March 31, 2025 filing deadline for the Required Filings.

The Company does not expect the resolution of the matter to have a material effect on the Company’s cash position or available resources. The Company and Circle Medical are currently working diligently to finalise the Company’s annual consolidated financial statements at the earliest possible date. The Company currently expects to be in a position to file the Required Filings on or before April 15, 2025 (the “Filing Interval”).

Notwithstanding the foregoing, the Company confirms that it continues to seek strategic alternatives for Circle Medical and is committed to carrying out this process in due course.

The Company has applied to the British Columbia Securities Commission, as principal regulator for the Company, for the imposition of a management cease trade order under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) throughout the duration of the Filing Interval. However, there can be no assurance that a management cease trade order will be granted. The management cease trade order, if approved, will not affect the ability of persons who are not or have not been management of the Company to trade in its securities.

WELL confirms that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports, if necessary, in the form of news releases for so long as it remains in default of the above-noted filing requirements. The British Columbia Securities Commission may issue a general cease trade order against WELL for failure to file the Required Filings within the prescribed time period or sooner if WELL fails to file the prescribed status reports.

Other than as disclosed herein, WELL is up to date in its filing obligations.

Footnote:

Non-GAAP Financial Measures – Adjusted EBITDA

In addition to results reported in accordance with IFRS, the Company uses Adjusted EBITDA as a supplemental indicator of its financial and operating performance. The Company believes this non-GAAP financial measure reflects the Company’s ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in its business. The Company defines Adjusted EBITDA as net income (loss) before interest, taxes, depreciation and amortization less (i) net rent expense on premise leases considered to be finance leases under IFRS and before (ii) transaction, restructuring, and integration costs, time-based earn-out expense, change in fair value of investments, share of income (loss) of associates, foreign exchange gain/loss, and stock-based compensation expense, and (iii) gains/losses that are not reflective of ongoing operating performance. The Company considers Adjusted EBITDA to be a financial metric that measures cash flow that can be used to fund working capital requirements, service future interest and principal debt repayments, and fund future growth initiatives. Adjusted EBITDA should not be considered an alternative to net income (loss), cash flow from operating activities, or other measures of financial performance defined under IFRS. A reconciliation of Adjusted EBITDA to the most directly comparable IFRS measure can be found in the Company’s Fiscal 2023 Annual MD&A.

WELL HEALTH TECHNOLOGIES CORP.

Per: “Hamed Shahbazi”

Hamed Shahbazi

Chief Executive Officer, Chairman and Director

About WELL Health Technologies Corp.

WELL’s mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL’s comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. WELL’s solutions enable more than 41,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with more than 200 clinics supporting primary care, specialized care, and diagnostic services. In the United States WELL’s solutions are focused on specialized markets such as the gastrointestinal market, women’s health, primary care, and mental health. WELL is publicly traded on the Toronto Stock Exchange under the symbol “WELL” and on the OTC Exchange under the symbol “WHTCF”. To learn more about the Company, please visit: www.well.company.

Forward-Looking Information

This news release contains “Forward-Looking Information” within the meaning of applicable Canadian securities laws, including, without limitation: statements regarding the grant of a management cease trade order, expected timing of the Required Filings, the impact of the resolution of the USAO RFI on WELL, and the ability to consummate strategic alternatives for Circle Medical. Forward-Looking Information is based on a number of estimates and assumptions are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond WELL’s control, which could cause actual results and events to differ materially from those disclosed in this news release. Forward-Looking Information generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe”, “goal” or “continue”, or the negative thereof or similar variations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the Forward-Looking Information and the Forward-Looking Information is not a guarantee of future results or performance. WELL’s comments expressed or implied by such Forward-Looking Information are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL’s control, and undue reliance should not be placed on such information. Forward-Looking Information are qualified in their entirety by inherent risks and uncertainties, including the risk factors identified in documents filed by WELL under its profile at www.sedar.com, including its most recent Annual Information Form and its most recent Management’s Discussion and Analysis. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.

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SOURCE WELL Health Technologies Corp.