Business combination closed November 13, 2024 Raised $10 million of gross proceeds in connection with the business combination Agreements are in place with Yorkville for up to a $50 million standby equity purchase agreement, to raise an additional $2 million in debt financing and the sale of up to 500,000 shares of common stock pursuant to forward purchase agreement Financing will support advancement of Abpro’s pipeline of its next-generation antibody therapies for cancer, ophthalmology, and infectious diseases WOBURN, Mass., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Abpro Holdings, Inc. (Nasdaq:ABP) (“Abpro”), a biotech company with the mission of improving the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies, celebrated the closing of its business combination with Atlantic Coastal Acquisition Corp II (“ACAB”), a special purpose acquisition company, with a Nasdaq bell ringing ceremony. Abpro also celebrated the consummation of a PIPE offering raising $7 million in gross proceeds and a $2.76 million convertible note financing with YA II PN, LTD (“Yorkville”) to cover expenses in connection with the closing of the business combination. As previously announced, Abpro also has entered into a Standby Equity Purchase Agreement with Yorkville (the “SEPA”) pursuant to which Abpro has the right, but not the obligation, to issue up to $50 million in shares of its common stock to Yorkville upon registration of such shares, provided that no balance is outstanding on any promissory note to Yorkville (currently $3 million dollars outstanding). Among other restrictions and conditions set forth in the SEPA, the number of shares Abpro may request may not exceed the average of the daily traded amount of its shares of common stock during the five consecutive trading days preceding such request, and shall not cause Yorkville’s ownership to exceed 4.99% of the then outstanding common stock of Abpro, and the maximum amount of shares issued under the SEPA cannot exceed 19.99% of the outstanding common stock of Abpro without prior shareholder approval. Upon registration of the shares subject to the SEPA, Abpro has the right to receive financing for an additional $2 million. As previously announced, Abpro also has entered into a forward purchase agreement for the sale of up to 500,000 shares of common stock. Abpro believes that the various financings should significantly improve Abpro’s financial flexibility as it advances the development of its pipeline of its next-generation antibody therapies. “Becoming a public company represents a major milestone in our journey to provide solutions for patients with difficult-to-treat oncology and ophthalmology indications,” said Ian Chan, CEO and co-founder of Abpro. “The funds are expected to help accelerate the advancement of our pipeline to clinical trials. The financing will also provide the foundation for ongoing development of novel immunotherapies and next-generation antibody treatments in our pipeline with the aim of improving the lives of patients in need.” Abpro is advancing its pipeline of next-generation antibody therapies for HER2+ breast, gastric, and colorectal cancers, non-HER2+ gastric and liver cancer, wet age-related macular degeneration (AMD) and diabetic macular edema (DME), and infectious diseases. These next-generation antibodies are developed using Abpro's proprietary DiversImmune® platform, which creates antibody therapies against traditionally difficult targets. Abpro has partnered with Celltrion , a leading South Korean pharmaceutical company, in an exclusive global collaboration to further advance ABP 102, a T-cell engager, which is being developed for the treatment of HER2+ breast, gastric, and pancreatic cancers. Soo Young Lee, Senior Vice President and Head of the New Drug Division of Celltrion Inc. and a member of Abpro's Board of Directors, remarked, “Abpro’s ABP 102 drug candidate has shown preclinical data indicating the potential for better efficacy and less toxicity. We look forward to working closely with Abpro to advance ABP 102 into clinical trials.” Tony Eisenberg, who serves as a Director of Abpro, and had served as Chief Strategy Officer of ACAB prior to the business combination, added, “It’s an honor to be part of Abpro and the groundbreaking work they are doing. The Atlantic Coastal team is excited to have successfully completed this business combination with Abpro and to work with the Abpro management team to execute their long-term operational and strategic objectives as they develop next-generation antibody therapies with the potential to save lives and generate real return for investors.” Abpro’s Chairperson, Miles Suk, stated, "As the chairperson of the board, I am honored to guide Abpro through this landmark achievement. This listing marks a new chapter of growth and opportunity, and we remain committed to delivering sustainable value to our shareholders." About Abpro Abpro’s mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro is advancing a pipeline of next-generation antibody therapies, for HER2+ breast, gastric, and colorectal cancers, non-HER2+ gastric and liver cancer, wet age-related macular degeneration (AMD) and diabetic macular edema (DME), and infectious diseases. These antibodies are developed using Abpro's proprietary DiversImmune® platform. Abpro has partnered with Celltrion, which is a leading South Korean biotechnology company, ranked top 25 in the world by market capitalization, in an exclusive collaboration to further advance ABP 102, a T-cell engager, which is being developed for the treatment of HER2+ breast, gastric, and pancreatic cancer. Abpro is located in Woburn, Massachusetts. For more information, please visit www.abpro.com . Forward Looking Statements This press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “aim,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; Abpro’s ability to raise additional capital; the outcome of judicial proceedings to which Abpro or its subsidiaries is, or may become a party; failure to realize the anticipated benefits of the Business Combination, including difficulty in, or costs associated with, integrating the businesses of ACAB and Abpro; risks related to the rollout of Abpro’s business and the cost and timing of expected business milestones; the effects of competition on Abpro’s future business; and those factors discussed in Abpro’s public filings under the heading “Risk Factors,” and other documents of Abpro filed, or to be filed, with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the “Risk Factors” section of Abpro’s public filings and other documents to be filed by Abpro from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while Abpro may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Abpro does not give any assurance that Abpro will achieve its expectations. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control.
Intel's leadership hinted at a possible sale of its manufacturing operations amid uncertainties surrounding a new chip technology, 18A, slated for next year. As co-CEOs Michelle Johnston Holthaus and David Zinsner took the helm following Pat Gelsinger's ouster, they face the challenge of revitalizing the company's manufacturing edge against competitors like Nvidia. During a Barclays conference in San Francisco, Holthaus discussed Intel's unique dual role in chip design and manufacturing, noting the potential need to separate these functions if the new technology does not deliver results. Intel aims to bring its flagship PC chip manufacturing back in-house, a move crucial for regaining momentum in the chip industry. Chief Financial Officer Zinsner highlighted the separation of Intel Foundry, its manufacturing division, into a standalone subsidiary. While its finances and operations are already distinct, a complete separation remains uncertain. Intel's shares climbed 2.3% after the executives' remarks, reflecting cautious optimism. (With inputs from agencies.)Week 17 of the 2024 NFL season promises excitement as three Saturday games carry significant playoff implications. Here's a look at the schedule, TV channels, odds, and storylines for today's matchups. ET Year-end Special Reads Take That: The gamechanger weapon's India acquired in 2024 10 big-bang policy moves Modi government made in 2024 How governments tried to rein in the social media beast Saturday NFL Matchups and Where to Watch Los Angeles Chargers (9-6) vs. New England Patriots (3-12) Time: 1:00 PM ET Channel: NFL Network The Chargers aim to solidify the No. 6 seed in the AFC playoff bracket. A win makes their playoff spot nearly certain, but the Patriots could disrupt their momentum. 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Cincinnati Bengals (7-8) Time: 4:30 PM ET Channel: NFL Network Denver holds the No. 7 seed, but Cincinnati wants to play spoiler. With one of the league's best second-half pass defenses, the Broncos will try to overcome the Bengals' home advantage. Arizona Cardinals (7-8) at Los Angeles Rams (9-6) Time: 8:15 PM ET Channel: NFL Network A big NFC West battle, where the Rams can move closer to a division title. The Cardinals dominated in Week 2, but this matchup looks far different with the Rams playing at home. Odds and Predictions Chargers at Patriots: LAC (-4), O/U 42.5 Broncos at Bengals: CIN (-3.5), O/U 49.5 Cardinals at Rams: LAR (-6.5), O/U 48 Live Streaming Options All games are available for live streaming on FuboTV. Also Read : Apple Pulls iPhone 14 and SE from Europe as USB-C Mandate Changes the Game The Saturday slate brings pivotal moments as playoff spots and division titles hang in the balance. With the Chargers, Broncos, and Rams each controlling their fates, the stakes couldn't be higher. Football fans can expect a thrilling day of action. FAQs: Can I stream the NFL Saturday games? Yes, you can live stream the games on platforms like FuboTV. What are the odds for the NFL Saturday matchups? The Chargers are favored over the Patriots (-4), the Bengals are slightly favored against the Broncos (-3.5), and the Rams are favorites over the Cardinals (-6.5). (You can now subscribe to our Economic Times WhatsApp channel )
FOXBOROUGH, Mass. (AP) — Drake Maye received a nice ovation from the Gillette Stadium crowd when he returned to Saturday’s game after it appeared the New England Patriots had lost their rookie quarterback to another head injury. By the fourth quarter, those fans who chose to stick around until the end of a 40-7 lopsided loss to the Los Angeles Chargers chose to voice their displeasure in a season in which very little has gone right for the former NFL powerhouse. Chants of “Fire Mayo!” reverberated throughout the stadium, which was a quarter full by game’s end. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.‘Senior cops complicit in extortion’
BIRMINGHAM, Ala. , Dec. 16, 2024 /PRNewswire/ -- RxBenefits, Inc., the employee benefits industry's first technology-enabled pharmacy benefits optimizer (PBO), announced today that Robert Gamble has been appointed Chief Executive Officer, effective immediately. Gamble succeeds Wendy Barnes , who has decided to pursue another professional opportunity. Gamble has also joined the RxBenefits Board of Directors. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Success! An email has been sent to with a link to confirm list signup. Error! There was an error processing your request. Success! An email has been sent to with a link to confirm list signup. Error! There was an error processing your request. Top trending stories from the past week. News, Sports, and more throughout the week. The week's obituaries, delivered to your inbox.
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( MENAFN - EIN Presswire) Solar fuel Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033 The Business Research Company's Early Year-End Sale! Get up to 30% off detailed market research reports-for a limited time only! LONDON, GREATER LONDON, UNITED KINGDOM, December 17, 2024 /EINPresswire / -- The Business Research Company's Early Year-End Sale! Get up to 30% off detailed market research reports-limited time only! Will Solar Fuel Market Continue to Show Strong Growth? The solar fuel market has witnessed a significant rise in recent years. The market grew from $12.16 billion in 2023 to an anticipated $13.06 billion in 2024, indicating a compound annual growth rate CAGR of 7.4%. This considerable growth during the historic period can be ascribed to breakthrough research in solar technology, government incentives, rising energy costs, and public awareness about climate change, and the establishment of renewable energy standards. How Will Solar Fuel Market Size Grow In The Coming Years? The size of the solar fuel market is projected to see substantial growth in the upcoming years, reaching $17.52 billion in 2028 at a CAGR of 7.6%. The surge in growth during the forecast period can be attributed to an increase in industrialization, substantial investments in renewable energy, government rewards and subsidies, as well as improvements in energy storage systems. Major trends include advancements in solar cell efficiency, expansion of large-scale solar farms, a push for energy storage integration, and development in hybrid solar technologies. For detailed insights, get a sample of the market report now: What Are the Key Market Drivers for Solar Fuel Industry? The rising demand for renewable energy is expected to propel the growth of the solar fuel market moving forward. Renewable energy refers to energy from natural resources that replenish constantly, such as solar, wind, and hydropower. This shift supports sustainable power generation while reducing reliance on fossil fuels. The increased demand for renewable energy originates from environmental concerns, the falling prices of renewable technologies, government stimuli, energy security needs, and advancements in energy storage solutions. Solar fuel allows the production of renewable energy by offering a dependable method to store and convert solar power into usable energy, improving overall energy accessibility and sustainability. Download the full market report for in-depth analysis: Who Are The Industry Leaders In Solar Fuel Market? The industry is dominated by major players such as Royal Dutch Shell plc, TotalEnergies SE, Reliance Industries Ltd., Linde plc, Sharp Corporation, Plug Power Inc., Pilatus Aircraft Ltd., Waaree Energies Limited, Azure Power Global Limited, Sunfire Solar Energy LLC, BrightSource Energy, Ballard Power Systems Inc., Motech Industries Inc., Green Hydrogen Systems A/S, eSolar Inc., Solar Energy Industries Association, Synhelion SA, Heliogen Inc., Synhelion SA, and SolarFuel GmbH. What Are The Major Developments In Solar Fuel Industry? Strategic partnerships aimed at developing solar fuels for aviation and enhancing the efficiency and effectiveness of solar fuel production and utilization are trending in the solar fuel market. An example being the partnership in June 2024 between Synhelion SA, a Switzerland-based cleantech company, and Pilatus Aircraft Ltd., a Switzerland-based aerospace company. The collaboration aims to accelerate the development of large-scale solar fuel production facilities, improve the solar-to-fuel conversion process efficiency, and reduce costs through innovative engineering solutions. How Is The Solar Fuel Market Segmented? The solar fuel market in this report is characterized as - 1 By Type: Hydrogen, Ammonia, Other Types 2 By Application: Power Generation, Transportation, Other Applications 3 By End Use: Residential, Commercial, Industrial, Utility What Is The Regional Outlook For Solar Fuel Market? Asia-Pacific was the largest region in the solar fuel market in 2023, with the market report covering regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Browse Through More Similar Reports By The Business Research Company: Smart Solar Global Market Report 2024 Solar Tracker Global Market Report 2024 Solar Inverter Global Market Report 2024 About The Business Research Company Learn More About The Business Research Company. With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game. Contact us at: The Business Research Company: Americas +1 3156230293 Asia +44 2071930708 Europe +44 2071930708 Email us at ... 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Powerful pomegranates, glorious geraniums and more to do in the gardenHyderabad: The Hyderabad metropolitan water supply and sewerage board (HMWSSB) has set the target of completing the Godavari Phase-2 drinking water project in the next two years. Construction of pumphouses, sub-stations, sewage treatment plants (STP), and laying main pipelines are part of that project. The project endeavours to draw 15 tmcft water from Mallanna Sagar which will meet the drinking water needs of Hyderabad, including 5 tmcft to replenish the Himayatsagar and Osmansagar reservoirs under the Musi rejuvenation project. Presently, the demand for drinking water in the twin cities is 560 mgd (million gallons per day), which is expected to climb to 867 mgd by 2030 and 1,114 mgd by 2050. Hyderabad’s urban agglomeration generates 1,950 mld (million litres per day) of sewage, with 1,650 mld coming from GHMC limits. Currently, 25 sewage treatment plants (STPs) with a capacity of 772 mld treat 46% of the sewage. To address future needs, HMWSSB will invest Rs 3,866 crore to install STPs with a combined capacity of 1,106 mld, sufficient to meet the twin cities’ sewage treatment requirements until 2036. Hyderabad currently has 11 STPs with plans to install nine more which will have the capacity to treat 443 mld of sewage. The Telangana government has sent proposals for 39 additional STPs to the Centre, as part of the AMRUT 2.0 scheme. HMWSSB also plans to instal four more 4 STPs to treat the sewage entering Osmansagar and Himayatsagar reservoirs. The HMWSSB has completed a 90-day special drive, desilting of sewage pipelines spanning 2,106 km across 16,395 localities. Approximately 1,68,000 manholes were desilted by December 28. During the two-month special drive conducted by HMWSSB, 1.17 lakh consumers paid their water bills amounting to Rs 102 crore after receiving a discount of Rs 35 crore through a one-time settlement. This year also saw a total number of 16,43,660 tankers ordered by residents from multiple localities. To encourage residents to dig soak-pits, an awareness campaign is being held across the twin cities, and in residential properties extending beyond 300 square metre area with no soak-pits, a higher charge is being levied for booking tankers.
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