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VNET Announces Certain Updates Regarding the Refinancing of the Founder’s Personal Loan

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10 months ago

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BEIJING, July 8, 2024 /PRNewswire/ — VNET Group, Inc. (Nasdaq: VNET) (“VNET” or the “Company”), a leading carrier- and cloud-neutral internet data center services provider in China, today announced the refinancing of the margin loan facility provided by Bold Ally (Cayman) Limited (the “Bold Ally Loan”) to Mr. Josh Sheng Chen (“Mr. Chen”), Founder, Co-Chairperson and interim Chief Executive Officer of VNET. The Bold Ally Loan was procured by Mr. Chen in or around August 2021 to finance his purchase of 17,140,898 Class A ordinary shares from another significant shareholder at the time, and was secured by the ordinary shares beneficially owned by Mr. Chen in the Company.

With reference to the Amendment No. 8 to the Schedule 13D filing dated July 8, 2024 filed by Mr. Chen (the “Schedule 13D Amendment”), Mr. Chen and various entities wholly owned by him (the “Corporate Obligors”) have settled all of their obligations under the Bold Ally Loan. The settlement was funded using proceeds generated from the issuance of a promissory note (the “Note”) to Shining Rich Holdings Limited and the existing cash reserves of Mr. Chen.  

As a result of the settlement of the Bold Ally Loan, the collateral for the Bold Ally Loan has been released in full pursuant to a deed of undertaking as disclosed in the Schedule 13D Amendment, and Mr. Chen has restored his beneficial ownership interest in 33,628,926 Class A ordinary shares of the Company, the ownership of which was previously transferred to Bold Ally (Cayman) Limited.

The Note is secured by 68,373,133 Class A ordinary shares and 27,757,992 Class B ordinary shares beneficially owned by Mr. Chen and the Corporate Obligors, representing in the aggregate approximately 6.00% of the issued and outstanding share capital and 18.41% of the total voting power in the Company as of the date of the Schedule 13D Amendment.

Mr. Chen and the Corporate Obligors have also made various undertakings with respect to the shares of the Company. These undertakings include procuring the Company not to issue or grant, in any financial year, equity securities (including rights to acquire shares) representing 5% or more of the total issued and outstanding capital of the Company (on a fully-diluted basis) to any person, including Mr. Chen and the Corporate Obligors themselves, subject to exceptions. Details of such undertakings are set forth in the Schedule 13D Amendment.

Considering the voting power owned by Mr. Chen, his veto rights over certain corporate actions through his beneficial ownership of 60,000 class C ordinary shares and his executive powers as co-Chairperson and interim Chief Executive Officer of the Company, Mr. Chen holds significant power to direct or influence the management and policies of the Company as a controlling person.

About VNET

VNET Group, Inc. is a leading carrier- and cloud-neutral internet data center services provider in China. VNET provides hosting and related services, including IDC services, cloud services, and business VPN services to improve the reliability, security, and speed of its customers’ internet infrastructure. Customers may locate their servers and equipment in VNET’s data centers and connect to China’s internet backbone. VNET operates in more than 30 cities throughout China, servicing a diversified and loyal base of over 7,500 hosting and related enterprise customers that span numerous industries ranging from internet companies to government entities and blue-chip enterprises to small- to mid-sized enterprises.

Safe Harbor Statement 

This announcement contains forward-looking statements. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “target,” “believes,” “estimates” and similar statements. Among other things, quotations from management in this announcement as well as VNET’s strategic and operational plans contain forward-looking statements. VNET may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about beliefs and expectations on the future performance of VNET, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: VNET’s goals and strategies; VNET’s liquidity conditions; VNET’s expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, VNET’s services; VNET’s expectations regarding keeping and strengthening its relationships with customers; VNET’s plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where VNET provides solutions and services. Further information regarding these and other risks is included in VNET’s reports filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and VNET undertakes no duty to update such information, except as required under applicable law.

Investor Relations Contact:

Xinyuan Liu
Tel: +86 10 8456 2121
Email: ir@vnet.com 

View original content:https://www.prnewswire.com/news-releases/vnet-announces-certain-updates-regarding-the-refinancing-of-the-founders-personal-loan-302190783.html

SOURCE VNET Group, Inc.

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Elbit Systems To Report First Quarter 2025 Financial Results on May 20, 2025

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31 minutes ago

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April 29, 2025

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The Company will host a Conference Call to discuss its financial results on May 20, 2025 at 9:00am ET

HAIFA, Israel, April 29, 2025 /PRNewswire/ — Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) (“Elbit Systems”) announced today that it will publish its First Quarter 2025 financial results on Tuesday, May 20, 2025.

Results Conference Call

The Company will host a conference call on May 20, 2025, at 9:00am Eastern Time. On the call, management will review and discuss the results and will be available to answer questions. To participate, please call one of the dial-in numbers below:

US Dial-in Number: 1-866-744-5399
Canada Dial-in Number: 1-866-485-2399
Israel Dial-in Number: +972-3-918-0644
International Dial-in Number: +972-3-918-0644

at 9:00am Eastern Time; 6:00am Pacific Time; 4:00pm Israel Time

This call will also be broadcast live on Elbit Systems’ website at http://www.elbitsystems.com. An online replay will be available from 24 hours after the call ends.

Alternatively, for two days following the call, investors will be able to dial a replay number to listen to the call. The dial-in numbers are: 1-888-782-4291 (US and Canada) or +972-3-925-5900 (Israel and International).

About Elbit Systems

Elbit Systems is a leading global defense technology company, delivering advanced solutions for a secure and safer world. Elbit Systems develops, manufactures, integrates and sustains a range of next-generation solutions across multiple domains.

Driven by its agile, collaborative culture, and leveraging Israel’s technology ecosystem, Elbit Systems enables customers to address rapidly evolving battlefield challenges and overcome threats.

Elbit Systems employs approximately 20,000 people in dozens of countries across five continents. As of December 31, 2024, the Company reported $6.8 billion in revenues and an order backlog of $22.6 billion.

For additional information, visit: www.elbitsystems.com, follow us on Twitter or visit our official Youtube Channel.

Company Contact:
Dr. Yaacov (Kobi) Kagan, EVP & Chief Financial Officer
Tel:  +972-77-2946663
kobi.kagan@elbitsystems.com

Daniella Finn, VP, Investor Relations
Tel: +972-77-2948984
daniella.finn@elbitsystems.com

Dalia Bodinger, VP, Communications & Brand
Tel: +972-77-2947602
dalia.bodinger@elbitsystems.com

This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management’s current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company’s future financial results, its anticipated growth strategies and anticipated trends in its business. Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others, including the duration and scope of the current war in Israel, and the potential impact on our operations; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.’s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies. All other brand, product, service and process names appearing are the trademarks of their respective holders. Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

Logo: https://mma.prnewswire.com/media/2017806/Elbit_Systems_Logo.jpg

 

View original content:https://www.prnewswire.com/news-releases/elbit-systems-to-report-first-quarter-2025-financial-results-on-may-20-2025-302440856.html

SOURCE Elbit Systems Ltd.

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Omdia ranks Infobip as a Leader in the CPaaS Universe report for the third time

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31 minutes ago

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April 29, 2025

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Infobip has strengthened its leadership position in the 2025 report

KUALA LUMPUR, Malaysia, April 29, 2025 /PRNewswire/ — Global communications platform Infobip has been ranked as a leader in the Omdia CPaaS Universe report 2025. Infobip has been recognized as a leader for the third time, improving its overall ranking in 2025 compared to the previous report in 2023. Infobip’s robust Communication Platform-as-a-Service (CPaaS) services, RCS Business Messaging (RBM) campaigns, connection to the emerging Network API ecosystem, and innovation through AI and Gen AI are key factors highlighted in the Omdia report.

The Omdia CPaaS Universe report is a comprehensive analysis of the CPaaS market, drawing on the firm’s forecasting and enterprise insights survey data. The report provides a forward-looking matrix of capabilities, attributes, and features that are important within the market.

Omdia recognizes Infobip as a leading CPaaS provider, delivering exceptional communication services to enterprises, developers, hyperscalers, partners, and telcos.

Pamela Clark-Dickson, Principal Analyst at Omdia, said: “Infobip provides an extensive range of communication channels and APIs. One of its key differentiators from other vendors in this Universe is that it is also at the forefront of adding emerging channels for business messaging, such as RCS Business Messaging and communications, which are crucial growth drivers for the industry and the company. Infobip enhances the developing Network API ecosystem and assists customers in achieving their business objectives through innovative AI and Gen AI features.”

Silvio Kutić, CEO at Infobip, said: “We are driving innovation within the communications platform ecosystem. With more than 9,700 connections to telco companies, our CPaaS platform is a leading option for various communication and customer engagement solutions. Omdia emphasizes our incorporation of AI and Gen AI features in the CPaaS solution, which promotes innovation, develops new use cases, and enhances existing ones. Combined, this has enabled us to strengthen our leadership position in the market this year.”

See Omdia CPaaS Universe report 2025 here: https://www.infobip.com/analyst-reports/omdia-ranks-infobip-as-a-leader 

ENDS

About Infobip

Infobip is a global cloud communications platform that enables businesses to build connected experiences across all stages of the customer journey. Accessed through a single platform, Infobip’s omnichannel engagement, identity, user authentication and contact centre solutions help businesses and partners overcome the complexity of consumer communications to grow business and increase loyalty. It offers natively built technology with the capacity to reach over seven billion mobile devices and ‘things’ in 6 continents connected to over 9,700+ connections of which 800+ are direct operator connections. Infobip was established in 2006 and is led by its co-founders, CEO Silvio Kutić, Roberto Kutić and Izabel Jelenić.

Recent award wins include:

Infobip ranked an Established Leader in the Juniper Research Conversational AI Leaderboard (Feb 2025)Infobip named a CPaaS Leader for the third time in the IDC MarketScape (Feb 2025)Infobip named one of the top CPaaS providers in Metrigy’s CPaaS MetriRank Report (Dec 2024)Infobip named number one among Established Leaders in RCS Business Messaging in Juniper Research’s RCS Business Messaging Competitor Leaderboard 2024 (Nov 2024)Infobip recognized as the number one provider in the AIT Fraud Prevention market by Juniper Research (Oct 2024)Infobip named a Leader in the Gartner® Magic Quadrant™ for Communications Platform as a Service (CPaaS) 2024 for the second year running (June 2024)Infobip named to Fast Company’s Annual List of the World’s Most Innovative Companies (March 2024)Omdia Ranks Infobip as Leader for the second year running in its CPaaS Universe Report (Nov 2023)

View original content:https://www.prnewswire.com/apac/news-releases/omdia-ranks-infobip-as-a-leader-in-the-cpaas-universe-report-for-the-third-time-302440570.html

SOURCE Infobip

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ProPhotonix Launches New Cost-Effective, High-Performance Multispectral LED Line Light

Published

31 minutes ago

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April 29, 2025

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ProPhotonix is pleased to announce the launch of its COBRA NX MultiSpec designed to deliver tunable multispectral light for cost-sensitive applications. The new COBRA NX MultiSpec is a pioneering multispectral line light offering all of the benefits of a tunable multispectral light, specifically engineered for applications where performance and budget must align.

BOSTON, April 29, 2025 /PRNewswire-PRWeb/ — ProPhotonix Limited, a designer and manufacturer of laser diode modules and LED illumination systems with operations in Ireland and the United Kingdom, part of the Exaktera group, is pleased to announce the launch of its COBRA NX MultiSpec designed to deliver tunable multispectral light for cost-sensitive applications.

“Our new multispectral line light represents a major leap forward in making multispectral lighting more accessible. A solution that is both powerful and cost-effective.”

The new COBRA NX MultiSpec is a pioneering multispectral line light offering all of the benefits of a tunable multispectral light, specifically engineered for applications where performance and budget must align. Built on a modular platform, the COBRA NX MultiSpec is available in four standard configurations – RGB, RGB-IR (855nm), RGB-White(3500K), and RGB-SWIR (1150mn, 1450nm) each designed to address a broad range of multispectral imaging applications including food sorting, print inspection, and pharmaceutical analysis. The advanced line light offers discrete control of individual wavelengths allowing the user to select the optimum intensities, maximizing the signal-to-noise ratio for their application.

Building on the success of the award-winning COBRA MultiSpec platform, the innovative COBRA NX MultiSpec has a market-leading compact, modular form factor. Available from 300mm and with unmatched optical options, it is configurable for a wide range of applications. Chip-on-board LED technology coupled with superior optical design, delivers intense and uniform multispectral illumination at the optimal price-performance ratio. Packed with functionality, COBRA NX MultiSpec also offers on-board Ethernet control.

COBRA NX MultiSpec will reduce the cost of entry for multispectral imaging applications. When paired with multispectral cameras from leading manufacturers the cost of a multispectral system can be dramatically reduced, enabling new applications to benefit from the many advantages of multispectral imaging. This innovative multispectral solution delivers an exceptional performance-to-cost ratio.

“Our new multispectral line light represents a major leap forward in making multispectral lighting more accessible,” said Simon Stanley, Director of Technology, Exaktera LED group “As multispectral imaging continues to evolve, the need for high-performance LED line lights continues to grow. The COBRA NX MultiSpec addresses this need with a solution that is both powerful and cost-effective.”

For more information, visit: https://www2.prophotonix.com/COBRA-NX-MultiSpec

Contact:

ProPhotonix Limited

Simon Stanley,

Director of Technology, Exaktera LED Group

Tel: +353(0) 21 5001313

sales@prophotonix.com

About ProPhotonix

ProPhotonix Limited is a high-technology designer and manufacturer of diode-based laser modules and LED systems for industry-leading OEMs and medical equipment companies. In addition, the Company distributes premium diodes for Ushio, Osram, QSI, Panasonic, and Sony. The Company serves a wide range of markets including the machine vision, industrial inspection, security, and medical markets. ProPhotonix has offices and subsidiaries in the U.S., Ireland, U.K., and Europe. For more information about ProPhotonix and its innovative products, visit the Company’s website at www.prophotonix.com.

Media Contact

ProPhotonix Sales, ProPhotonix, 1 603 893 8778, sales@prophotonix.com, www.prophotonix.com

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SOURCE ProPhotonix

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