CoreWeave Eyes $35 Billion Valuation in Upcoming IPOPLANO, Texas--(BUSINESS WIRE)--Dec 12, 2024-- Upbound Group, Inc. (“Upbound” or the “Company”) (NASDAQ: UPBD), a technology and data-driven leader in accessible and inclusive financial products that address the evolving needs and aspirations of underserved consumers, today announced it has entered into a definitive agreement to acquire Brigit, a leading financial health technology company, for total consideration of up to $460 million consisting of cash and shares of Upbound common stock. This transaction is a logical next step reflecting Upbound’s strategic focus on expanding its technology-driven financial solutions for consumers who are underserved by the traditional financial system. Brigit, which offers a subscription-based model, was launched nationally in 2019 to expand financial inclusion and help consumers build a brighter financial future. It is consistently ranked among the most downloaded financial health apps and is a recognized leader in innovation in the industry. Built on proprietary artificial intelligence and machine learning-powered cash flow data insights, Brigit’s core product is its direct-to-consumer Instant Cash advance product (earned wage access or EWA) which has saved its users approximately $1 billion in overdraft fees since inception 2. Brigit also offers a credit builder product that helps its subscribers build their credit history over time as they increase their savings, as well as financial wellness solutions and educational resources to help consumers better manage, save, and earn money. Brigit currently serves nearly two million monthly active customers, including over one million active paying subscribers and almost one million free subscribers. Their customers are highly engaged, with paid users logging in on average six times per month. The business is expected to generate revenues of approximately $215 million to $230 million in 2025 and approximately $350 million to $400 million in 2026. Brigit will expand Upbound’s offerings of innovative and flexible financial solutions, positioning the combined company to create an industry-leading technology platform for the financially underserved that meets the consumer wherever they are on their financial journey. In addition, Brigit’s proprietary data and sophisticated tech stack are expected to enhance Upbound’s existing brands, including Acima and Rent-A-Center (RAC), by improving risk management and fraud prevention, enabling more customer approvals while also mitigating net losses and enhancing account management. The combined company’s data-driven insights will create a more personalized customer experience with the ability to deliver, at the right time and through the right channels, a wider range of targeted solutions for consumers. Upbound expects these enhancements to boost conversion rates, lower churn, and increase customer loyalty and engagement. “We are thrilled to welcome Brigit, a company whose mission and target customer base are closely aligned with ours, into our family of brands,” said Upbound’s Chief Executive Officer Mitch Fadel. “Creating a financial solutions platform with Brigit as the backbone expands our addressable market and enables Upbound to innovate across even more product categories to improve the financial health of our customers. The ability to add new products for our customers beyond lease-to-own is an important part of our strategy and now we can offer liquidity solutions, budgeting, credit building, financial literacy and savings. We believe this transaction will position Upbound for accelerated growth, with greater scale and a more diversified financial profile, ultimately driving long-term value for our shareholders.” “Brigit has helped everyday Americans build a brighter financial future through a suite of innovative financial products that leverage cutting-edge cash flow technology,” said Brigit cofounder & CEO Zuben Mathews. “This transaction is a testament to our team’s continued passion for helping the underserved and our dedication to innovation. By combining forces with Upbound, we can accelerate our impact and better serve the millions of Americans who have been historically underserved by traditional financial institutions. Together, we are excited to widen our reach and bring financial freedom to even more people in need.” Brigit founders Zuben Mathews and Hamel Kothari will continue to lead the Brigit team as a business segment of Upbound. Brigit will continue to operate under its existing branding and will retain its headquarters in New York City, which is expected to serve as one of Upbound’s innovation hubs. Transaction Details Upbound is acquiring Brigit for up to $460 million, comprised of (1) $325 million payable at closing, 75% in cash and 25% in Upbound shares; (2) $75 million in deferred cash consideration over two years; and (3) a potential earnout of up to $60 million in cash based on achievement of certain financial performance metrics for the Brigit business in 2026. Upbound will fund the transaction through a combination of cash on hand, borrowing capacity under its $550 million revolving credit facility, and issuance of new shares of Upbound common stock to Brigit stockholders. The integration of Brigit’s all-digital, scalable platform is expected to expand Upbound’s addressable market outside of durable goods and enhance its strong financial profile while adding an additional complementary growth segment. With approximately 80% recurring subscription revenue, and an estimated total revenue growth in 2024 of 40% to 50% compared to 2023 with similar expectations in 2025, Upbound believes the transaction will accelerate its growth and is expected to be neutral to non-GAAP EPS in year one and meaningfully accretive to non-GAAP EPS in year two and beyond. Brigit will diversify Upbound’s revenue/Adjusted EBITDA mix; within the next four years, Upbound expects approximately two-thirds of revenue and Adjusted EBITDA 3 will be derived from virtual and digital platforms. Following the transaction, Upbound expects pro forma net leverage ratio of approximately 3x 4 and pro forma available liquidity of nearly $300 million 5. Upbound continues to target leverage of approximately 2x over the long-term. The acquisition is expected to close in Q1 2025, subject to receipt of requisite regulatory approvals and satisfaction of other customary closing conditions. Advisors Greenhill & Co. Inc. is acting as financial advisor to Upbound, Sullivan & Cromwell LLP and Mayer Brown LLP are acting as its legal counsel. FT Partners is acting as financial advisor to Brigit and Cooley LLP and Morgan Lewis & Bockius LLP are acting as its legal counsel. Investor Conference Call Details Upbound will host a conference call on Friday, December 13, 2024, at 9:00 am (ET) to discuss this transaction. Interested parties can access a live webcast of the conference call via this link or through the Company's investor relations website. About Upbound Group, Inc. Upbound Group, Inc. (NASDAQ: UPBD), is a technology and data-driven leader in accessible and inclusive financial products that address the evolving needs and aspirations of underserved consumers. The Company’s customer-facing operating units include industry-leading brands such as Rent-A-Center® and Acima® that facilitate consumer transactions across a wide range of store-based and digital retail channels, including over 2,300 company branded retail units across the United States, Mexico and Puerto Rico. Upbound Group, Inc. is headquartered in Plano, Texas. For additional information about the Company, please visit our website Upbound.com . About Brigit Brigit is a holistic financial health app that has helped millions of Americans budget better, get their earned wages early, build their credit through savings, protect themselves from identity theft, and find ways to earn and save money. Its mission is to help everyday Americans build a better financial future. Brigit is backed by Lightspeed, DCM, Nyca, Flourish Ventures, Hummingbird VC, DN Capital, Will Smith, Kevin Durant, and other prominent investors. Cautionary Note Regarding Forward-Looking Statements This press release and the associated investor presentation and webcast contain forward-looking statements that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "could," "estimate," "predict," "continue," "should," "anticipate," "believe," or “confident,” or the negative thereof or variations thereon or similar terminology and include, among others, statements concerning (a) the anticipated benefits of the proposed transaction, (b) the anticipated impact of the proposed transaction on the combined company’s business and future financial and operating results, (c) the anticipated closing date for the proposed transaction, (d) other aspects of both companies’ operations and operating results, and (e) our goals, plans and projections with respect to our operations, financial position and business strategy. However, there can be no assurance that such expectations will occur. The Company's actual future performance could differ materially and adversely from such statements. Factors that could cause or contribute to such material and adverse differences include, but are not limited to: (1) risks relating to the proposed transaction, including (i) the inability to obtain regulatory approvals required to consummate the transaction with Brigit on the terms expected, at all or in a timely manner, (ii) the impact of the additional debt on the Company’s leverage ratio, interest expense and other business and financial impacts and restrictions due to the additional debt, (iii) the failure of conditions to closing the transaction and the ability of the parties to consummate the proposed transaction on a timely basis or at all, (iv) the failure of the transaction to deliver the estimated value and benefits expected by the Company, (v) the incurrence of unexpected future costs, liabilities or obligations as a result of the transaction, (vi) the effect of the announcement of the transaction on the ability of the Company or Brigit to retain and hire necessary personnel and maintain relationships with material commercial counterparties, consumers and others with whom the Company and Brigit do business, (vii) the ability of the Company to successfully integrate Brigit’s operations over time, (viii) the ability of the Company to successfully implement its plans, forecasts and other expectations with respect to Brigit’s business after the closing and (ix) other risks and uncertainties inherent in a transaction of this size and nature, (2) the general strength of the economy and other economic conditions affecting consumer preferences, demand, payment behaviors and spending; (3) factors affecting the disposable income available to the Company's and Brigit’s current and potential customers; (4) the appeal of the Company’s and Brigit’s offerings to consumers; (5) the Company's and Brigit’s ability to protect their proprietary intellectual property; (6) the impact of the competitive environment in the Company’s and Brigit’s industries; (7) the Company's and Brigit’s ability to identify and successfully market products and services that appeal to their current and future targeted customer segments; (8) consumer preferences and perceptions of the Company's and Brigit’s brands; (9) the Company’s and Brigit’s compliance with applicable laws and regulations and the impact of active enforcement of those laws and regulations, including any changes with respect thereto or attempts to recharacterize their offerings as credit sales, (10) information technology and data security costs; (11) the impact of any breaches in data security or other disturbances to the Company's or Brigit’s information technology and other networks and the Company's and Brigit’s ability to protect the integrity and security of individually identifiable data of its customers and employees; and (12) the other risks detailed from time to time in the Company's SEC reports, including but not limited to, its Annual Report on Form 10-K for the year ended December 31, 2023 and in its subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Non-GAAP Financial Measures This release and the associated investor presentation and webcast contain certain financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles (GAAP), including (1) Adjusted EBITDA (net earnings before interest, taxes, stock-based compensation, depreciation and amortization, as adjusted for special items) on a consolidated and segment basis and (2) Net Leverage Ratio (total debt less unrestricted cash, divided by Adjusted EBITDA). “Special items” refers to certain gains and charges we view as extraordinary, unusual or non-recurring in nature or which we believe do not reflect our core business activities. Special items are reported as Other Gains and Charges in our Consolidated Statements of Operations. Because of the inherent uncertainty related to these special items, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measures or reconciliation to any forecasted GAAP measure without unreasonable effort. These non-GAAP measures are additional tools intended to assist our management in comparing our performance on a more consistent basis for purposes of business decision-making by removing the impact of certain items management believes do not directly reflect our core operations. These measures are intended to assist management in evaluating operating performance and liquidity, comparing performance and liquidity across periods, planning and forecasting future business operations, helping determine levels of operating and capital investments and identifying and assessing additional trends potentially impacting our Company that may not be shown solely by comparisons of GAAP measures. Consolidated Adjusted EBITDA is also used as part of our incentive compensation program for our executive officers and others. We believe these non-GAAP financial measures also provide supplemental information that is useful to investors, analysts and other external users of our consolidated financial statements in understanding our financial results and evaluating our performance and liquidity from period to period. However, non-GAAP financial measures have inherent limitations and are not substitutes for, or superior to, GAAP financial measures, and they should be read together with our consolidated financial statements prepared in accordance with GAAP. Further, because non-GAAP financial measures are not standardized, it may not be possible to compare such measures to the non-GAAP financial measures presented by other companies, even if they have the same or similar names. ______________________________ 1 Non-GAAP Financial Measure. See descriptions below in this release. Due to the inherent uncertainty related to the special items discussed under “Non-GAAP Financial Measures” below, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measure or reconciliation to any forecasted GAAP measure without unreasonable effort. 2 Assumes all Brigit’s cash advances since inception have assisted customers with avoiding overdraft fees at an estimated $34/overdraft. 3 Non-GAAP Financial Measure. See descriptions below in this release. Due to the inherent uncertainty related to the special items discussed under “Non-GAAP Financial Measures” below, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measure or reconciliation to any forecasted GAAP measure without unreasonable effort. 4 Non-GAAP Financial Measure. See descriptions below in this release. Due to the inherent uncertainty related to the special items discussed under “Non-GAAP Financial Measures” below, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measure or reconciliation to any forecasted GAAP measure without unreasonable effort. 5 Pro forma net leverage ratio (total debt less unrestricted cash, divided by Adjusted EBITDA) and pro forma available liquidity (estimated available borrowings under the company’s revolving credit facility and unrestricted cash) assume the acquisition of Brigit is completed March 31, 2025 and the Company makes the closing date cash payment at that time. Above metrics reflect the Company’s estimates and are not reflective of actual amounts or indicative of future results. View source version on businesswire.com : https://www.businesswire.com/news/home/20241212082702/en/ CONTACT: Investor Contact Jeff Chesnut SVP, Strategy & Corporate Development 972-801-1108 jeff.chesnut@upbound.comMedia Contacts Kelly Kimberly 713-822-7538 Kelly.kimberly@fgsglobal.com Leah Polito 212-687-8080 Leah.polito@fgsglobal.com KEYWORD: TEXAS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: APPS/APPLICATIONS TECHNOLOGY FINANCE FINTECH HEALTH TECHNOLOGY PROFESSIONAL SERVICES SOFTWARE HEALTH DATA MANAGEMENT SOURCE: Upbound Group, Inc. Copyright Business Wire 2024. PUB: 12/12/2024 05:00 PM/DISC: 12/12/2024 05:00 PM http://www.businesswire.com/news/home/20241212082702/enNorth Dakota regulators OK underground storage for proposed Midwest carbon dioxide pipeline
During the Singapore FinTech Festival, I had a chance to visit the National Library of Singapore and explore the Generative AI-powered ChatBook featuring one of the founders of modern Singapore S. Rajaratnam. The showcase was inaugurated by Prime Minister of Singapore Lawrence Wong while launching the second volume of the biography of S. Rajaratnam, “The Lion’s Roar”, authored by Irene Ng. Singapore’s Senior Minister and former Prime Minister Lee Hsien Loong, who graced the showcase, noted: “Raja belonged to the core group of Founding Fathers who shared fierce conviction of what Singapore should be, and defied the odds to build a united, successful, and confident nation. It is befitting that NLB has made this ChatBook prototype publicly available with Raja’s materials.” Rajaratnam was born on 25 February 1915 in Jaffna, Ceylon, and at the age of six months, his mother brought him to join his father in Malaya. His mother had taken the precaution of giving birth to him in her hometown Jaffna because of her traumatic experience at a hospital in Malaya a few years earlier. Rajaratnam spent his childhood in Malaya and later went to London to study at King’s College but had to return to Malaya before completing his studies due to World War II. Eventually, he settled in Singapore, where he became a prominent journalist, political leader, and one of the Founding Fathers of independent Singapore. Rajaratnam was close to Lee Kuan Yew, and they shared a strong working relationship as part of Singapore’s founding leadership. Both were core members of the People’s Action Party (PAP) and worked together to guide Singapore through its early years of independence. Rajaratnam served as Singapore’s first Foreign Minister, while Lee was the first Prime Minister, and their shared vision for the country’s future helped them build a solid and effective partnership. As the Foreign Minister, Rajaratnam was skilled in diplomacy and worked to establish Singapore’s presence on the global stage, especially during a time when Singapore was a small, newly independent country. He advocated for principles of non-alignment, peaceful coexistence, and cooperation, which allowed Singapore to build strong relationships with both Eastern and Western nations. His influence also extended domestically. He played a key role in promoting multiculturalism and social cohesion, particularly through the drafting of the Singapore National Pledge, which emphasised unity across racial and religious lines. His ideals of harmony, meritocracy, and national unity continue to shape Singapore’s identity today. Rajaratnam’s contributions to the nation’s broader development had a significant impact on Singapore’s emergence as a global financial hub. As Foreign Minister, he played a key role in shaping Singapore’s international image and establishing diplomatic ties with countries and organisations that would later facilitate global trade and investment. His efforts in building strong foreign relations and advocating for Singapore’s strategic location as a neutral and stable nation created an environment conducive to economic growth, including in the financial sector. Additionally, Rajaratnam’s emphasis on national stability, meritocracy, and social cohesion helped to create the social and political foundation that made the country an attractive destination for global businesses and investors. Singapore’s reputation as a stable, efficient, and transparent country, with policies that encouraged foreign investment, was crucial to its success as a powerful financial hub in the world today. (The writer is the Founding President of Fintech Association of Sri Lanka and a relative of Late S. Rajaratnam)Douglas Elliman Assumes Miami Office Lease Agreement
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Olivia Lloyd | (TNS) The Charlotte Observer CHARLOTTE, N.C.— A pet food company based in North Carolina is recalling puppy mix sold in seven states after a batch tested positive for salmonella, the U.S. Food and Drug Administration said. The contamination came to light when a litter of puppies got sick after consuming Blue Ridge Beef’s Puppy Mix, and the customer reported it to the Virginia Department of Agriculture and Consumer Services, according to the FDA. The FDA said it notified the company that the food tested positive for salmonella on Nov. 27, and Blue Ridge Beef issued a voluntary recall on its 2-pound plastic-wrapped logs sold in North Carolina, Pennsylvania, Maryland, Virginia, Connecticut, Massachusetts and New York. The recall affects puppy mix sold from Aug. 6 to Aug. 23 with logs labeled with lot numbers 08/06/N25 and 08/16/N25, with UPC 854298001696. It’s not the company’s only recall in the past year. In January, Blue Ridge Beef expanded a December 2023 recall of its puppy mix, as well as some of its kitten food, due to possible salmonella and listeria contamination, FDA records show. “Pets with Salmonella infections may be lethargic and have diarrhea or bloody diarrhea, fever and vomiting,” according to the FDA. “Some pets will have only decreased appetite, fever, and abdominal pain. Infected but otherwise healthy pets can be carriers and infect other animals or humans.” Related Articles National News | White House says at least 8 US telecom firms, dozens of nations impacted by China hacking campaign National News | Powell: Fed’s independence from politics is vital to its interest rate decisions National News | United Healthcare CEO kept a low public profile. Then he was shot to death in New York National News | US senators grill officials from 5 airlines over fees for seats and checked bags National News | Supreme Court seems likely to uphold Tennessee’s ban on medical treatments for transgender minors Pet owners who notice these symptoms should notify their veterinarian. Humans are also at risk of contracting the food-borne illness if they don’t wash their hands or sanitize surfaces the product has touched. The FDA said customers who believe they purchased the recalled mix should return the product to the place they bought it or destroy the food in a way that ensures no humans or animals will be contaminated. The company declined to comment on the recall to McClatchy News on Dec. 3. Blue Ridge Beef is located in Statesville in Iredell County, about a 40-mile drive north from Charlotte. ©2024 The Charlotte Observer. Visit charlotteobserver.com. Distributed by Tribune Content Agency, LLC.
DETROIT (AP) — Two towers at Detroit's iconic Renaissance Center would be razed and the complex converted to a mix of housing and offices under an ambitious $1.6 billion plan announced Monday. The complex, which next year will lose the headquarters of owner General Motors Co., is the symbol of Detroit, with aerial views often shown on television sports broadcasts. GM decided last spring to leave what's locally known as the “RenCen” for a more modern building being constructed downtown. GM said in April it would join forces with the Bedrock real estate development firm and Wayne County to turn the partially vacant property into a roughly 27-acre entertainment complex across the Detroit River from Windsor, Ontario. Under the plans, Bedrock would invest at least $1 billion in the property, with roughly $250 million more coming from GM and another $250 million in yet-to-be-allocated public money, possibly from the state of Michigan. The plan, called conceptual by Bedrock, would preserve most of the skyline and reduce the center's office footprint. Demolishing the two 39-story towers would free land for the waterfront project that would complement a walkway along the river, Bedrock said in a press release. A pedestrian promenade would link the heart of downtown to the riverfront, Bedrock said. The 73-story main tower would remain, with high-end housing on the upper floors, according to Crain's Detroit Business, which first reported the plans. GM CEO Mary Barra said last April that the move to a brand new state-of-the-art office building in the heart of the city will help GM recruit talent in the future. The new site, being built by Bedrock, is about a mile (1.6 kilometers) north of the Renaissance Center. The move also keeps GM’s headquarters in the city for the foreseeable future, she said.
NoneOlivia Lloyd | (TNS) The Charlotte Observer CHARLOTTE, N.C.— A pet food company based in North Carolina is recalling puppy mix sold in seven states after a batch tested positive for salmonella, the U.S. Food and Drug Administration said. The contamination came to light when a litter of puppies got sick after consuming Blue Ridge Beef’s Puppy Mix, and the customer reported it to the Virginia Department of Agriculture and Consumer Services, according to the FDA. The FDA said it notified the company that the food tested positive for salmonella on Nov. 27, and Blue Ridge Beef issued a voluntary recall on its 2-pound plastic-wrapped logs sold in North Carolina, Pennsylvania, Maryland, Virginia, Connecticut, Massachusetts and New York. The recall affects puppy mix sold from Aug. 6 to Aug. 23 with logs labeled with lot numbers 08/06/N25 and 08/16/N25, with UPC 854298001696. It’s not the company’s only recall in the past year. In January, Blue Ridge Beef expanded a December 2023 recall of its puppy mix, as well as some of its kitten food, due to possible salmonella and listeria contamination, FDA records show. “Pets with Salmonella infections may be lethargic and have diarrhea or bloody diarrhea, fever and vomiting,” according to the FDA. “Some pets will have only decreased appetite, fever, and abdominal pain. Infected but otherwise healthy pets can be carriers and infect other animals or humans.” Related Articles Nation | White House says at least 8 US telecom firms, dozens of nations impacted by China hacking campaign Nation | Powell: Fed’s independence from politics is vital to its interest rate decisions Nation | United Healthcare CEO kept a low public profile. Then he was shot to death in New York Nation | US senators grill officials from 5 airlines over fees for seats and checked bags Nation | Today in History: December 4, journalist freed after years as Hezbollah hostage Pet owners who notice these symptoms should notify their veterinarian. Humans are also at risk of contracting the food-borne illness if they don’t wash their hands or sanitize surfaces the product has touched. The FDA said customers who believe they purchased the recalled mix should return the product to the place they bought it or destroy the food in a way that ensures no humans or animals will be contaminated. The company declined to comment on the recall to McClatchy News on Dec. 3. Blue Ridge Beef is located in Statesville in Iredell County, about a 40-mile drive north from Charlotte. ©2024 The Charlotte Observer. Visit charlotteobserver.com. Distributed by Tribune Content Agency, LLC.
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Several social media users speculated that LeBron James is 'quitting' the Los Angeles Lakers, with some linking his absence to Sean 'Diddy' Combs. The 39-year-old has not addressed these claims. ESPN reported he is unlikely to play Friday against the Minnesota Timberwolves due to personal reasons. Earlier in the day, The New York Post highlighted his absence, describing it as a step back during a challenging performance period. Lakers coach JJ Redick confirmed LeBron's excused absence, citing personal matters but offering no further details. The NBA All-Time Points Leader missed the first game of the season on Sunday against the Blazers after setting a goal to play all 82 games at his age. Read More: Who Was Stephon Mack? Lil Durk Linked To Alleged 'Chicago Disciples' Gang Member Killing Users on X, platform formerly known as Twitter, linked LeBron's absence to Diddy. "LeBron James, a close friend of Diddy, is stepping away from playing for the Lakers for "personal reasons" during what’s been his worst season yet. Struggling both on and off the court, LeBron has faced heavy criticism for attending Diddy’s parties, while his media company lost nearly $30 million last year and is set to lose even more," one person said on X, platform formerly known as Twitter. Another person referred to reports of three man coming up, accusing Diddy of sexual accuse. "Anyone else find it odd that Diddy’s Best Friend LeBron James announced he’s “Stepping Away” from the Lakers for “Personal Reasons” just hours after 3 Men came forward and said they were drugged and raped by Diddy..? 🤔" a second person tweeted. Read More: Did Juan Soto's Agent Slam Aaron Judge, Volpe For Wearing Trump Gear? Truth HERE LeBron James' Diddy Link LeBron James and Sean 'Diddy' Combs have a known social connection, primarily through the music mogul's famous parties, which LeBron has praised publicly in the past. A now-viral clip from an Instagram live session shows LeBron saying, "Ain't no party like a Diddy party." This statement has drawn renewed attention following recent legal troubles involving Diddy, including allegations of sex trafficking and racketeering. LeBron, like other celebrities, has faced questions about his association with Diddy but has avoided commenting on the matter. Get Latest News Live on Times Now along with Breaking News and Top Headlines from US Buzz, World and around the world.Vance takes on a more visible transition role, working to boost Trump’s most contentious picks
Past Pages for Dec. 28-Dec. 31, 2024MDB Capital Holdings, LLC ( NASDAQ:MDBH – Get Free Report ) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totalling 2,900 shares, a drop of 29.3% from the November 30th total of 4,100 shares. Based on an average daily volume of 7,800 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the company’s stock are sold short. MDB Capital Stock Performance Shares of MDBH stock opened at $6.89 on Friday. MDB Capital has a 52-week low of $5.78 and a 52-week high of $13.25. The stock has a market cap of $64.05 million, a price-to-earnings ratio of -2.40 and a beta of 1.12. The firm’s 50-day moving average is $6.74 and its 200-day moving average is $7.71. Insider Buying and Selling at MDB Capital In other MDB Capital news, CFO Jeremy William James sold 4,161 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $8.21, for a total value of $34,161.81. Following the completion of the sale, the chief financial officer now owns 15,839 shares in the company, valued at $130,038.19. This trade represents a 20.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link . Corporate insiders own 55.52% of the company’s stock. About MDB Capital MDB Capital Holdings, LLC, through its subsidiaries, primarily operates as a broker-dealer. The company operates through two segments, Broker Dealer & Intellectual Property Service, and Technology Development. The Broker Dealer & Intellectual Property Service segment operates as a full-service broker dealer that focuses on conducting private and public securities offerings, as well as providing research services for investment banking due diligence. Read More Receive News & Ratings for MDB Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MDB Capital and related companies with MarketBeat.com's FREE daily email newsletter .