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Global Partners LP Announces Private Offering of Senior Notes
Global Partners LP plans a private offering of $400 million in senior unsecured notes due 2033 to refinance existing debt. Proceeds will fund a cash tender offer for outstanding 2027 notes, with any remaining notes redeemed around August 1, 2025. The offering is exclusively for qualified institutional buyers and non-U.S. persons. This strategic move aims to optimize Global’s capital structure and manage its debt profile.
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Lithia & Driveway Announces Southeast Expansion and Share Repurchase
Lithia & Driveway (LAD) expands its footprint by acquiring two Southeast Mercedes-Benz dealerships, expecting $220 million in annualized revenue. This acquisition brings LAD’s total 2024 acquired revenue to $400 million. Further demonstrating confidence, LAD updated its share repurchase program, investing $230 million to repurchase shares. This balanced approach combines strategic acquisitions and share repurchases, signaling positive growth and shareholder value.
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ASML Announces Transactions in Ongoing Share Repurchase Program
ASML Holding executed a share buyback program from June 2-6, 2025, repurchasing 94,040 shares at prices between €643.47 and €663.09. The total value of the repurchases was approximately €61.47 million. This buyback is part of the existing capital return strategy announced on November 10, 2022, and complies with Market Abuse Regulation (Nr. 596/2014).
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Elliptic Labs AI Platform Optimized for Ceva’s NeuPro-Nano NPU: Smarter Edge Devices Enabled
Elliptic Labs and Ceva are collaborating to integrate Elliptic Labs’ AI Virtual Smart Sensor Platform with Ceva’s NeuPro-Nano NPU. This partnership empowers Ceva customers to create context-aware, intelligent features in edge devices. The combined solution will enable precise, optimized AI models for improved user experience in applications such as wearables and industrial sensors, accelerating intelligent sensing development across various AIoT applications.
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Tolmer’s ‘Silver Zone’ Drilling Program Expanded
Barton Gold is prioritizing silver exploration at the Tolmer discovery in South Australia, following promising initial drilling results in the western “silver zone.” The company has shifted focus, expanding silver zone drilling and planning follow-up programs after reallocating resources from planned gold exploration. High-grade silver intercepts of up to 4,747 g/t Ag have been encountered.
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Sunnova Announces Strategic Action for Value-Maximizing Sale
Sunnova Energy has filed for Chapter 11 bankruptcy on June 8, 2025, aiming to sell assets and secure its future via a court-supervised process expected to take about 45 days. Agreements with TEPH Subsidiary and Lennar Homes will provide liquidity during the process. Existing tax equity partnerships and asset-backed securities are largely unaffected. Sunnova will continue operations and customer service, with interim court approvals in place to ensure continuity.
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Gordy Bunch of TWFG to Speak at Morgan Stanley US Financials Conference
TWFG’s CEO, Gordy Bunch, will present at the Morgan Stanley US Financials Conference on June 11, 2025, at 4 PM EDT. He’ll participate in a fireside chat, offering insights into TWFG’s strategic vision and growth. A live webcast will be available, with a replay accessible on TWFG’s website under the Investors section. This is a chance to learn about TWFG’s strategy in the insurance industry.
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OR Royalties Announces Increased Credit Facility and Positive Net Cash Position
OR Royalties Inc. amended its revolving credit facility, switching to U.S. dollar denomination and increasing it to $650 million, with a potential $200 million accordion. The company aims to leverage this enhanced financial flexibility for growth opportunities. Furthermore, OR Royalties will receive $49 million from the MAC Copper acquisition by Harmony Gold.
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Gerdau S.A. Announces Potential Cash Tender Offer for Outstanding 4.875% Notes due 2027 of Gerdau Trade Inc.
Gerdau S.A. announced a cash tender offer for its 4.875% notes due 2027, aiming to reshape its debt profile. The offer, detailed in the purchase offer dated June 3, 2025 and fully guaranteed by Gerdau, allows bondholders to tender notes until 5:00 p.m. (NY time) today. The settlement date is tentatively June 12, 2025. This strategic move reflects Gerdau’s commitment to financial management.
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T. Rowe Price: Midyear Investment Outlook 2025
T. Rowe Price’s 2025 midyear outlook highlights a financial landscape shaped by deglobalization, trade shifts, and bond market changes. The report anticipates challenges for the global economy and foresees a shift away from U.S. equities towards value stocks and emerging markets. It emphasizes inflation protection and diversification within multi-asset portfolios, suggesting active management may outperform in the evolving market.