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Roberts & Ryan Selected as Co-Manager in Pershing Square Tontine Holdings’ (PSTYH.U) IPO

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Press Release updated: Aug 24, 2020 10:51 EDT


Roberts & Ryan Investments Inc., one of America’s first Service-Disabled Veteran-Owned (SDVOB) FINRA registered broker-dealers, is proud to announce their participation as co-manager in the record-breaking $4 billion special purpose acquisition company (SPAC) offering from Bill Ackman’s Pershing Square Tontine Holdings.

For this offering, Mr. Ackman changed the underwriting model by expanding the roles of minority-owned firms and increasing their underwriting fee participation. The lead underwriting banks, Mr. Ackman, and the minority-owned firms worked side by side, leveraging each other’s relationships with Ackman’s investing acumen, to maximize the coverage of the targeted accounts. The minority-owned firms got a seat at the table and an opportunity to bring value while being mentored by one of the industry’s great deal makers and some of the most prestigious bulge bracket underwriters. The minority-owned firms provided Pershing Square with access to their unique relationships, including niche international money managers and family offices.

Minority-owned firms on Wall Street have long participated in the Debt and Equity Capital Markets for new issues and secondaries as co-managers and selling group members. Their participation comes at the direction of the underwriting banks, and the issuing companies themselves, to further their ESG and diversity initiatives.

Traditionally, the economics for minority-owned firms has been 3% of the total fees generated. Often, multiple minority firms are included in each deal, diluting the economic benefit to each firm. With Pershing Square, Mr. Ackman is looking to set an example for companies in their future issuance of securities by increasing the total minority participation to 20% of the economics.

“This year, through our participation in the Mentor-Protégé program and with the support of our mentor Citigroup (CITI), other bulge bracket firms, and corporate issuers, Roberts & Ryan has been growing. We have been a co-manager or selling group member in multiple equity and debt transactions for a variety of companies including CITI, Zoom Info, Warner Music Group, Bank of America, Wells Fargo, and Becton Dickinson. Roberts & Ryan’s participation allows us to further our social mission to donate a percentage of our revenue to nonprofit groups that directly assist veterans in the areas of wellness, mental health, and career transition. As a direct result of Bill Ackman’s record-breaking SPAC, R&R can continue to do well by doing good, donating $100,000 each to both Boulder Crest & Year Up,” says Brian Rathjen, President of Roberts & Ryan.

“We are grateful and honored to partner with Roberts & Ryan, a firm dedicated to service and upholding America’s ideals,” said John Galante, Managing Director at Year Up, one of the foundations supported by Roberts & Ryan. “Their support will help us continue to create economic opportunity for young adults across the U.S. and reflects Roberts & Ryan’s commitment to a diverse, inclusive society.”

Mr. Ackman’s vision of increasing the economic and functional participation of minority-owned firms will cement their long-term viability in the industry. It will enable minority firms to endure turbulent market conditions if taken up by other issuers.

About Pershing Square Tontine Holdings, Ltd.

Pershing Square Tontine Holdings, Ltd. (“PSTH”), a Delaware corporation, is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with a private company. PSTH’s sponsor is 100% owned by the Pershing Square Capital Management, L.P. (“PSCM”) funds.

PSTH believes that its unique structure and willingness to acquire a minority interest in a company will help facilitate the completion of a transaction on attractive terms.

About Roberts and Ryan Investments, Inc.

Roberts & Ryan Investments, Inc. is a Service-Disabled Veteran-Owned (SDVO) broker-dealer with execution capabilities in the capital markets, equities and fixed-income trading. The firm was founded in 1987 by a United States Marine Corps Vietnam combat veteran and Purple Heart recipient.

Roberts & Ryan engages in underwriting and trading of corporate municipal and agency mortgage debt as well as, equity agency trade execution, stock buybacks, and equity underwriting.

The majority of the firm’s employees are veterans. The firm is active in donating to charitable foundations that make significant positive impacts in the lives of veterans and their families. Roberts & Ryan will directly support veteran-focused charitable organizations that are best positioned to aid the veteran community.

For more information, contact:
Roberts & Ryan Investments Inc.
Jennifer McDonough, 646-542-0745
Director of Administration
jmcdonough@roberts-ryan.com​

Source: Roberts & Ryan Investments Inc.

Source: https://www.newswire.com/news/roberts-ryan-selected-as-co-manager-in-pershing-square-tontine-21197779

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Adams Resources & Energy, Inc. Completes Acquisition Of VEX Pipeline And Related Pipeline Terminal Facilities

HOUSTON, Oct. 22, 2020 /PRNewswire/ — Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) (“Adams” or the “Company”) today announced that GulfMark Energy, Inc., Adams’ crude oil marketing subsidiary, and its wholly owned subsidiary, GulfMark Terminals, LLC (collectively, “GulfMark”) has…

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HOUSTON, Oct. 22, 2020 /PRNewswire/ — Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) (“Adams” or the “Company”) today announced that GulfMark Energy, Inc., Adams’ crude oil marketing subsidiary, and its wholly owned subsidiary, GulfMark Terminals, LLC (collectively, “GulfMark”) has acquired the outstanding equity interests of Victoria Express Pipeline, LLC (“VEX”) and certain related pipeline terminal facility assets from EnLink Midstream Operating, L.P. 

The VEX Pipeline System, with truck and storage terminals at both Cuero and the Port of Victoria, Texas, is a crude oil and condensate pipeline system, which connects the heart of the Eagle Ford Basin to the Gulf Coast waterborne market.  The VEX Pipeline System includes 56 miles of 12-inch pipeline, which spans DeWitt county to Victoria county, Texas, with 350,000 barrels of above ground storage, two 8 bay truck offload stations, and access to two docks at the Port of Victoria.  The VEX Pipeline System can receive crude oil by pipeline and truck, and has downstream pipeline connections to two terminals today, with potential for additional downstream connection opportunities in the future.  The pipeline system has a current capacity of 90,000 barrels per day. 

“Over the last several years, the VEX Pipeline System has been integral to GulfMark’s crude oil supply and marketing business in the Eagle Ford and Gulf Coast region,” said Greg Mills, President of GulfMark.  “As one of the system’s largest shippers, we look forward to fully integrating the VEX Pipeline System into our Gulf Coast marketing business, which will further strengthen our ability to provide excellent service to the producers in the region, as well as more effectively service our end-user markets along the Gulf Coast.  As important, the VEX Pipeline System complements our existing storage terminal and dock at the Port of Victoria, where GulfMark will now control 450,000 barrels of storage with three docks.”

Kevin Roycraft, Adams’ Chief Executive Officer and President, commented, “This acquisition is expected to provide growth opportunities to the current GulfMark business, as we will participate in a greater portion of the midstream value chain for crude oil and condensate production moving from the wellhead to the end market.  By effectively managing these assets, we plan to further enhance the quality and value of the services our customers have come to expect from GulfMark, as well as begin to provide midstream services to both new and former customers of the VEX Pipeline System.  Finally, we believe this transaction will generate long-term cash flow, and represents another key milestone in our strategic efforts to prudently grow the business.”

Adams Resources & Energy, Inc. is primarily engaged in the business of crude oil marketing, transportation and storage, tank truck transportation of liquid chemicals and dry bulk through its two subsidiaries, GulfMark Energy, Inc. and Service Transport Company, respectively. For more information, visit www.adamsresources.com.

Cautionary Statement Regarding Forward-Looking Statements
This news release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to future events and anticipated results of operations, business strategies, and other aspects of our operations or operating results. In many cases you can identify forward-looking statements by terminology such as “anticipate,” “intend,” “plan,” “project,” “estimate,” “continue,” “potential,” “should,” “could,” “may,” “will,” “objective,” “guidance,” “outlook,” “effort,” “expect,” “believe,” “predict,” “budget,” “projection,” “goal,” “forecast,” “target” or similar words. Statements may be forward looking even in the absence of these particular words. Where, in any forward-looking statement, the Company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including, but not limited to: Adams’ ability to efficiently integrate the VEX assets and to obtain the anticipated benefits therefrom, and other risk factors included in Adams’ reports filed with the Securities and Exchange Commission.  However, there can be no assurance that such expectation or belief will result or be achieved. Unless legally required, Adams undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact: 
Tracy E. Ohmart
EVP, Chief Financial Officer
[email protected]
(713) 881-3609

SOURCE Adams Resources & Energy, Inc.

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http://adamsresources.com

Source: https://www.prnewswire.com:443/news-releases/adams-resources–energy-inc-completes-acquisition-of-vex-pipeline-and-related-pipeline-terminal-facilities-301158426.html

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Gerber Technology Redefines Mass Production with Launch of Revolutionary, Next-Generation Cutting Room

NEW YORK, Oct. 22, 2020 /PRNewswire/ — Gerber Technology is revolutionizing the flexible materials processing industry with the launch of their end-to-end solution for mass production, which will be unveiled at their annual technology conference, ideation, on November 4-6. The connected…

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NEW YORK, Oct. 22, 2020 /PRNewswire/ — Gerber Technology is revolutionizing the flexible materials processing industry with the launch of their end-to-end solution for mass production, which will be unveiled at their annual technology conference, ideation, on November 4-6. The connected platform features the new Atria digital cutting solution and the October 2020 release of AccuMark® 2D and 3D, AccuNest™ and AccuPlan™. With decades of industry experience, a rich history of innovation and feedback from it’s global customer base, Gerber developed a next-generation, digital mass production solution that will offer the best throughput, quality and price per piece in the market.

The Atria digital cutting room leverages Industry 4.0 and IoT to seamlessly integrate with Gerber’s pattern design, cut planning and nesting solutions, which connects the entire mass production process from CAD to the cut room. Gerber’s latest product releases deliver what manufacturers need to succeed in the post-COVID world by integrating data management, improving efficiencies, reducing material waste, optimizing nesting and cutting production costs.

“We designed the Atria to be the most intelligent, integrated, and high-performance cutter the mass production market has ever seen,” said Lenny Marano, Chief Commercial Officer at Gerber Technology. “The new normal COVID era is a challenge for many manufacturers and requires them to be agile and innovative. The Atria is backed by Gerber’s end-to-end solution that will allow companies to easily adapt and respond to consumer demands and market challenges.”

The Atria digital cutting room builds on the innovative spirit of Joseph Gerber, the company’s founder and the pioneer behind the first automated cutting solution. As the industry’s smartest machine to date, the Atria promises to transform mass production by improving overall throughput by 50%, reducing consumable usage by over 30% and improving material yield by 5% with zero buffer cutting in many applications at full speed. The intuitive solution will be a gamechanger for the workwear, denim, furniture, transportation and personal protective equipment (PPE) markets as it utilizes powerful algorithms to eliminate errors, reduces costs and ensure data integrity at every point in the process.

The Atria has already received high praise from early adopters who have been testing and leveraging the advanced cutting room solutions for several months. GDI Grupo Diamante Internacional, manufacturer of professional uniforms, emphasized the Atria’s ability to cut even the toughest materials. The company has been able to cut 30% more material since implementing the Atria into their workflow . Apparel manufacturer, Lesato, has also seen a major improvement in cut quality. The Atria has allowed them to significantly increase their ply height while cutting faster and with absolute precision..   

“Fashion and transportation industries were two of the industry segments most impacted by COVID-19, which meant manufacturers in these industries had to quickly adapt their processes, accelerate eCommerce and look for new ways to connect with customers and maintain a competitive edge,” said Ron Ellis, Director of Hardware Product Management at Gerber Technology. “The Atria’s state-of-the-art control technology and intelligent sensors enable versatility and make it the perfect solution for a variety of markets including apparel, transportation and furniture”

For more information on the Gerber Atria Digital Cutter, please watch this interview with Leonard Marano and Ron Ellis.

About Gerber Technology
Gerber Technology delivers industry-leading software and automation solutions that help apparel and industrial customers improve their manufacturing and design processes and more effectively manage and connect the supply chain, from product development and production to retail and the end customer. With customers in 134 countries, Gerber Technology has a global team of passionate experts to support companies in apparel and accessories, personal protective equipment, home and leisure, transportation, packaging and sign and graphics industries.   

Based in Connecticut in the USA, Gerber Technology is owned by AIP, a New York-based, global private equity firm specializing in the technology sector and has more than $3.0 billion assets under management. The company develops and manufactures its products from various locations in the United States and Canada and has additional manufacturing capabilities in China.

Visit www.gerbertechnology.com for more information.

Contact: Ketty Pillet
Tel: +1 860-896-6036
Email: [email protected]

SOURCE Gerber Technology

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Source: https://www.prnewswire.com:443/news-releases/gerber-technology-redefines-mass-production-with-launch-of-revolutionary-next-generation-cutting-room-301158425.html

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Con Edison Declares Common Stock Dividend

NEW YORK, Oct. 22, 2020 /PRNewswire/ — Consolidated Edison, Inc. (Con Edison) (NYSE: ED) declared a quarterly dividend of 76.5 cents a share on its common stock, payable December 15, 2020 to stockholders of record as of November 18, 2020. Consolidated Edison, Inc. is one of the nation’s…

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NEW YORK, Oct. 22, 2020 /PRNewswire/ — Consolidated Edison, Inc. (Con Edison) (NYSE: ED) declared a quarterly dividend of 76.5 cents a share on its common stock, payable December 15, 2020 to stockholders of record as of November 18, 2020.

Consolidated Edison, Inc. is one of the nation’s largest investor-owned energy-delivery companies, with approximately $13 billion in annual revenues and $59 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,300-square-mile-area in southeastern New York State and northern New Jersey; Con Edison Clean Energy Businesses, Inc., which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which through its subsidiaries invests in electric and natural gas transmission projects.

SOURCE Consolidated Edison, Inc.

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https://www.coned.com/

Source: https://www.prnewswire.com:443/news-releases/con-edison-declares-common-stock-dividend-301158418.html

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