Hedge fund sells stake in Trump SPAC agency DWAC after merger information

At least one hedge fund has its stake in the SPAC. sold Digital World Acquisition Corp. after The company announced plans to merge with the social media company planned by the former president Donald Trump.

Lighthouse Investment Partners, one of at least nine hedge funds that hold shares in Digital World Acquisition, abandoned its stakes in this particular acquisition company after learning of its merger with Trump’s Venture, the fund told CNBC on Friday.

Lighthouse owned 3.2 million shares, or 11.2% of the SPAC, according to a government filing dated Sept. 30.

“Lighthouse was unaware of the upcoming merger and no longer holds unrestricted shares in SPAC,” the fund said. When asked if Lighthouse had benefited from its DWAC investment, the company said it would not comment.

The sell-off came when DWAC saw that a huge surge in stock price on Thursday following the merger news.

DWAC shares up more than 100% on Friday after the share price more than quadrupled in the previous session.

It’s not clear whether the hedge fund was sold to capture profits from its stake in DWAC or whether it was concerned about the risk of being associated with Trump, who was twice indicted and accused as president of the fatal one For instigating the January 6th Capitol Rebellion among his followers.

The social media app is developed by the Trump Media and Technology Group (TMTG).

Rafael Henrique | LightRakete | Getty Images

SPACs, also known as blank check companies, are formed to raise capital from the public stock markets and then use that cash to merge with a private company that has or will have an actual operating business.

The shares of this merged company will then be traded under the stock market ticker created by SPAC.

Investors in SPACs are generally unaware of the identity of the other company being considered for a merger.

Among the other hedge funds listed as major DWAC shareholders in September, DE Shaw owned 8% of SPAC, or 2.4 million shares, while ARC Capital held nearly 18%, or 6.6 million shares.

Other funds that held stakes in the last month prior to the announcement of the merger were Saba Capital Management, Highbridge Capital Management, Lighthouse Investment Partners, K2 Principal Fund, ATW Spac Management, Boothbay Fund Management, and RG Capital Management.

Highbridge Capital Management and ATW Spac Management declined to comment when asked if they would keep shares in DWAC, and the rest of the hedge funds did not immediately respond to CNBC’s requests for comment.

Another fund listed as a major DWAC investor is ARC Global Investments II, LLC.

The executive member of ARC Global is listed in a government filing as Patrick Orlando, who is also the CEO of DWAC.

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In an 8-K filing with the Securities and Exchange Commission on Thursday, DWAC announced that it had entered into an agreement and merger plan with DWAC Merger Sub Inc., a wholly owned subsidiary of DWAC, and Trump Media & Technology Group ARC Global Investments II.

Trump’s company, the previously unstarted Trump Media & Technology Group, said in an announcement on Wednesday that his “mission is to create a rival for the liberal media consortium and to fight back against the ‘big tech’ companies of Silicon Valley that have used their one-sided power to silence opposing voices in America.”

Trump was banned from Twitter, his favorite social media platform, and Facebook earlier this year after he was accused of sparking the Capitol invasion.

A top post on the WallStreetBets forum on Friday revealed what the user’s stock portfolio looked like and touted daily winnings of over $ 10,000 from wagering on DWAC. The post calling the former president “Daddy Trump” quickly drew more than 800 comments.

This is the latest news. Check back for updates.

Fertitta Leisure, Inc. Broadcasts Modification to Merger Settlement with FAST Acquisition Corp.

HOUSTON, June 30, 2021 /PRNewswire/ — Fertitta Entertainment, Inc., the parent company of Golden Nugget/Landry’s (“Fertitta” or the “Company”), a leader in the gaming, restaurant, hospitality and entertainment industry, and FAST Acquisition Corp. (NYSE: FST) (“FAST”), a special purpose acquisition company co-headed by Doug Jacob and Sandy Beall, announced today that they have entered into an amendment to their previously announced Agreement and Plan of Merger entered into between the parties on February 1, 2021.   According to the amendment, the Company has agreed to contribute certain operating businesses not originally included as part of the business combination with FAST for no additional debt.  Businesses that will now be contributed to the public company include the Mastro’s brand, the Aquariums, the Pleasure Pier, Vic and Anthony’s, and a handful of smaller restaurant concepts, adding a total of 42 incremental, high-quality business assets.  Also, the Company will enter into a transaction to acquire the Catch restaurants, including Catch Steak, which restaurant group is already 50% owned indirectly by Tilman J. Fertitta.  In connection with the amendment, Mr. Fertitta, the Company’s owner, will receive additional equity in the NYSE public company which will increase his total equity stake post -closing of the transaction to approximately 72%.   

Pro forma for the revised transaction, Fertitta Entertainment, Inc. will be one of the largest publicly-traded hospitality companies with 5 land-based casinos and substantial ownership of Golden Nugget Online Gaming, Inc. and over 500 restaurants, amusements, hotels, entertainment venues and other business units across 38 states, the District of Columbia, Puerto Rico, Hong Kong, mainland China, Mexico and Singapore, plus numerous licensed restaurants throughout the world.

In addition, the Company announced preliminary pro forma financial results for the quarter ended June 30, 2021.  Including the additional assets and business units, pro forma net revenues for the three-month period are expected to be between $917 million and $920 million, with pro forma adjusted EBITDA estimated to be between $270 million and $275 million.  For full year 2021, the Company believes that its pro forma adjusted EBITDA will exceed $800 million assuming the contribution or acquisition of all of the operating businesses by the Company was completed as of January 1, 2021.  According to Tilman J. Fertitta, “the contribution of the new business assets greatly improves the Company’s operating cash flow, provides better assets for organic growth, and significantly deleverages the Company as no incremental debt is being incurred by the Company as part of the revised transaction.  Since the rollout of covid vaccinations, the operating results of the incremental assets have been so strong, I decided that I should be focused all in on the Company as I see opportunities for a significant acquisition that would not otherwise be available to the Company without this revised transaction.  We were a great company before and now even better today.”

“The addition of Mastro’s and the destination entertainment businesses provide tremendous cash flow and growth opportunities to the Company and we are excited that Tilman is contributing the new assets to the Company,” said Doug Jacob. “These brands create an even stronger portfolio to leverage for potential future acquisitions.”

Sandy Beall added: “We believe the new assets provide tremendous value to the public company and greatly strengthen the balance sheet for future growth.”

Amended Transaction Overview

The amended transaction implies an enterprise valuation for Golden Nugget/Landry’s of approximately $8.6 billion. This enterprise value includes the value of the GNOG equity to be contributed to the Company, based on an assumed per share trading price of approximately $13.00 for GNOG shares, which will be subject to adjustment based on the 60 day average price of the stock before closing. Estimated cash proceeds from the transaction are expected to consist of FAST’s $200 million of cash in trust, assuming no redemptions. In addition, shareholders have committed to invest approximately $1.24 billion in the form of a PIPE at a price of $10.00 per share of common stock of FAST immediately prior to the closing of the transaction.

The Company expects to use the proceeds from the transaction to accelerate the Company’s growth initiatives, general corporate purposes and reduce existing debt. In connection with the merger, the parties will undertake certain reorganizational transactions to exclude from the public company certain businesses and assets that Tilman J. Fertitta will continue to wholly own on a private basis.

The boards of directors of each of FAST and Fertitta have unanimously approved the amended transaction. The amended transaction will require the approval of the stockholders of FAST and is subject to other customary closing conditions, including the receipt of certain regulatory and gaming approvals. The SEC review process is expected to begin around the third week in July, and the transaction is now expected to close in the fourth quarter of 2021.

Fertitta Entertainment, Inc.

Fertitta Entertainment, Inc. is Tilman J. Fertitta’s holding company for substantially all of his assets, including all of the equity in Golden Nugget, LLC and Landry’s, LLC, approximately 31.494 million shares in Golden Nugget Online Gaming, Inc. (“GNOG”), hotels, real estate, and other investments. The business combination will only include all of its holdings in GNOG and the majority of the assets and businesses that comprise Golden Nugget, LLC and Landry’s, LLC.  Golden Nugget/Landry’s is a multinational, diversified gaming, restaurant, hospitality, and entertainment company based in Houston, Texas.  The Company’s gaming division includes the renowned Golden Nugget Hotel and Casino concept, with locations in Las Vegas and Laughlin, NV; Atlantic City, NJ; Biloxi, MS; and Lake Charles, LA.  GNOG is a leading online gaming company that is considered a market leader by its peers and was first to bring Live Dealer and Live Casino Floor to the United States online gaming market. GNOG was the past recipient of 15 eGaming Review North America Awards, including the coveted “Operator of the Year” award in 2017, 2018, 2019 and 2020. Entertainment and hospitality divisions encompass popular destinations including the Kemah Boardwalk. The Company also operates more than 500 outlets, including over 400 high-end and casual dining establishments around the world, with well-known concepts such as Del Frisco’s, Landry’s Seafood House, Bubba Gump Shrimp Co., Rainforest Cafe, Morton’s The Steakhouse, The Oceanaire Seafood Room, McCormick & Schick’s Seafood, Chart House, Joe’s Crab Shack, and Saltgrass Steak House. Landry’s also operates the popular New York BR Guest Restaurants such as Dos Caminos, Strip House and Bill’s Bar & Burger.

FAST Acquisition Corp.

FAST is a hospitality-focused blank check company launched by the principals of &vestwhose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. FAST is led by founder Doug Jacob and CEO Sandy Beall. FAST raised $200,000,000 in its initial public offering on August 20, 2020 and is listed on NYSE under the ticker symbol “FST.”

Advisors

Latham & Watkins LLP is acting as legal advisor to Fertitta, and Jefferies LLC is acting as financial advisor and capital markets advisor to Fertitta. Jefferies LLC acted as lead placement agent on the PIPE. Both Winston & Strawn LLP and White & Case LLP are acting as legal advisors to FAST.  Citigroup Global Markets Inc. is acting as sole financial advisor to FAST, and Citigroup Global Markets Inc. and UBS Investment Bank are jointly acting as capital markets advisor to FAST.  Goodwin Procter LLP and Skadden, Arps, Slate, Meagher & Flom LLP are acting as legal advisors to Jefferies LLC.

Non-GAAP Financial Measures

This press release includes certain non-GAAP financial measures, including EBITDA and Pro forma Adjusted EBITDA. EBITDA is defined as net income plus interest expense, income tax expense, depreciation and amortization. Pro forma Adjusted EBITDA is defined as EBITDA, plus impairment expenses, pre-opening costs, and onetime non-recurring items, as if all of the businesses were owned as of January 1, 2021. These financial measures are not prepared in accordance with accounting principles generally accepted in the United States and may be different from non-GAAP financial measures used by other companies. FAST and the Company believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. These non-GAAP measures with comparable names should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995.  The Company’s and FAST’s 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.  Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements.  These forward-looking statements include, without limitation, the Company’s and FAST’s expectations with respect to future performance and anticipated financial impacts of the transactions contemplated by the merger (the “Business Combination”), the satisfaction of the closing conditions to the Business Combination and the timing of the completion of the Business Combination.  These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.  Most of these factors are outside the Company’s and FAST’s control and are difficult to predict.  Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the agreement and plan of merger for the Business Combination (the “Merger Agreement”) or could otherwise cause the Business Combination to fail to close, (2) the outcome of any legal proceedings that may be instituted against the Company and FAST following the announcement of the Merger Agreement and the transactions contemplated therein; (3) the inability to complete the Business Combination, including due to failure to obtain approval of the stockholders of FAST or satisfy other conditions to closing in the Merger Agreement, including the failure to obtain gaming or other regulatory approvals; (4) the impact of COVID-19 on the Company’s business and/or the ability of the parties to complete the Business Combination; (5) the inability to obtain or maintain the listing of FAST’s shares of common stock on the New York Stock Exchange following the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably and retain its key employees; (8) costs related to the Business Combination; (9) changes in applicable laws or regulations; (10) the possibility that FAST or the Company may be adversely affected by other economic, business, and/or competitive factors; and (11) other risks and uncertainties indicated from time to time in the Registration Statement (as defined below) relating to the Business Combination, including those under “Risk Factors” therein, and in FAST’s other filings with the SEC.  The foregoing list of factors is not exclusive.   Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.  Neither FAST nor the Company undertakes or accepts any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. 

No Offer or Solicitation

This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Additional Information

In connection with the proposed Business Combination, FAST’s wholly owned subsidiary, FAST Merger Corp. (“FAST TX”) intends to file with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-4 (the “Registration Statement”), which will include a proxy statement/prospectus, and certain other related documents, which will be both the proxy statement to be distributed to holders of shares of FAST’s common stock in connection with its solicitation of proxies for the vote by FAST’s stockholders with respect to the proposed Business Combination and other matters as may be described in the Registration Statement, as well as the prospectus relating to the offer and sale of the securities of FAST TX to be issued in the Business Combination. FAST’s stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus included in the Registration Statement and the amendments thereto and the definitive proxy statement/prospectus, as these materials will contain important information about the parties to the Merger Agreement, FAST and the Business Combination. After the Registration Statement is declared effective, the definitive proxy statement/prospectus will be mailed to stockholders of FAST as of a record date established for voting on the Business Combination and other matters as may be described in the Registration Statement. Stockholders will also be able to obtain copies of the proxy statement/prospectus and other documents filed with the SEC that will be incorporated by reference in the proxy statement/prospectus, without charge, once available, at the SEC’s web site at www.sec.gov, or by directing a request to: FAST Acquisition Corp., 3 Minetta Street, New York, New York 10012, Attention: Sandy Beall, Chief Executive Officer.

Participants in the Solicitation

FAST and Fertitta and their respective directors and executive officers may be deemed participants in the solicitation of proxies from FAST’s stockholders with respect to the Business Combination. A list of the names of those directors and executive officers and a description of their interests in FAST are contained in FAST’s final prospectus dated August 20, 2020 relating to its initial public offering and in FAST’s subsequent filings with the SEC, and is available free of charge from the sources. Additional information regarding the interests of such participants will be contained in the Registration Statement when available.

SOURCE Landry’s

How Gojek and Tokopedia teamed up in Indonesia’s largest merger

Kevin Aluwi and William Tanuwijaya recently made Indonesian history.

As founding members of the GoTo Group, the 30-year-olds are responsible for creating Indonesia’s newest and most valuable tech company after turning their ride-hailing and e-commerce startups into the biggest business in the country ever.

The combined company is contributing 2% to Indonesia’s GDP across its various lines of business, including a powerful super app, according to the company. And that is just the beginning.

“Hopefully one day we’ll add 5 to 10% of that,” said Tanuwijaya, Co-Founder and CEO of Tokopedia CNBC does it.

But maybe you have never heard of it. What exactly is GoTo and how did it get so big?

Founding of Indonesia’s largest technology company

GoTo Group is an Indonesian tech giant founded in May 2021 through a blockbuster merger between two of the country’s largest startups: Gojek and Tokopedia.

Tokopedia was founded one year apart in the capital Jakarta and started as an e-commerce marketplace in 2009 to connect small traders with buyers, while Gojek was launched in 2010 as a ride-hailing platform for motorcycle taxis.

Both companies were owned by a Group of friends in their 20s, who at the time were responding to an emerging wave of Internet connectivity that swept the country.

Indonesian technology company GoTo offers on-demand, e-commerce and digital payment services.

Go to

“There was something of a tipping point where people began to see the potential of the internet, especially with the advent of mobile devices,” said Aluwi, Gojek’s co-founder and CEO.

In a vast country with the fourth largest population in the world and a rapidly growing middle class, the founders had something under control. In the years that followed, both companies ventured into digital payments and other services.

Imagine that Amazon, DoorDash, Uber, PayPal, Stripe are combined with each other.

William Tanuwijaya

Co-Founder and CEO, Tokopedia

Tokopedia has doubled in size to add new market segments such as parents and small stallholders to its ecosystem. In the meantime, Gojek has expanded its ride-hailing platform regionally and expanded its local super app, which offers users on-demand services from food to massages and manicures.

In 2015, the two began working together, using Gojek drivers to deliver Tokopedia products on the same day outside of rush hour.

“We were the first in the world to form a partnership between an on-demand platform and an e-commerce platform,” said Aluwi.

A localized super app

Six years later, amid growing competition from regional and global tech companies, the two agreed to officially merge into an $ 18 billion deal last month. Indonesia’s greatest ever.

“Imagine Amazon, DoorDash, over, PayPal“Stripe is combined with each other,” said Tanuwijaya. “There is a saying that if you want to go fast you go alone; if you want to go far you go together. So GoTo basically means to go far, to go together. “

The Indonesian technology company GoTo Group comprises three business lines, Gojek, GoTo Financial and Tokopedia.

CNBC

In the new structure, Andre Soelistyo from GoJek will take over as CEO of GoTo Group and GoTo Financial, Patrick Cao from Tokopedia will become President, while Aluwi and Tanuwijaya will remain CEOs of Gojek and Tokopedia, respectively.

The combined company has over 100 million monthly active users, more than 11 million dealers and over 2 million drivers in an ecosystem that works for 2% of Indonesia’s GDP of $ 1 trillionannounced the company.

GoTo hopes to use it to capture more of the market in Indonesia and beyond.

Seize the opportunity in Southeast Asia

Indonesia’s digital economy is projected to be worth $ 124 billion by 2025 as the value of the broader Southeast Asian online market triples to more than $ 309 billion. According to a recent study.

“Indonesia remains very exciting because of the population in Southeast Asia, the enormous economic growth forecasts for the next 10 years or so and (and) a really consumer-oriented economy,” said Florian Hoppe, partner at Bain & Company and co-author of the study.

This is both a huge business opportunity and an area where we truly believe we can make a big difference.

Kevin Aluwi

Co-founder and CEO, Gojek

However, in order to expand, companies need to focus on their services 120 million Indonesians those outside urban areas in the more than 17,000 archipelago.

“Much of the early growth was driven by major urban centers, was driven by Java,” he said. “The next half will be the really interesting story. How do you get there? Establishing logistics services there, integrating them for payments, really integrating them into the digital economy. ”

Southeast Asia’s digital economy is expected to triple in value by 2025.

CNBC

For GoTo, this includes providing payments and financial services in a country where 47 million adults do not have access to popular financial services and products, and 92 million people have never used a bank.

“It’s these people, with or without a bank account, where illness or economic shock can really make the difference between belonging to the middle class and falling back into poverty,” said Aluwi. “So this is both a huge business opportunity and an area where we really believe we can make a big difference.”

Target of the IPO in 2021

To date, neither Gojek nor Tokopedia is profitable.

GoTo is said to be planning another round of fundraising prior to a public listing. likely in Jakarta and the US The company already has an impressive list of investors like Softbank, Alibaba, Tencent, Facebook and Google.

“In terms of the timeframe, not just for going public but for all product development, my timeframe is always yesterday,” said Tanuwijaya. “But to be realistic for the team and so on, it’s as soon as possible. We hope we can try to get on the list hopefully by the end of this year.”

The potential is clearly there and I think international investors have recognized that.

Florian Hoppe

Partner, Bain & Company

In April, the competing super app Grab completed a Nasdaq listing the world’s largest “blank check merger” – an acquisition company for special purposes valued at nearly $ 40 billion. GoTo is intended to be a public market valuation target for $ 35 to $ 40 billion.

The GoTo and Grab IPOs will also serve as a litmus test for the region. If successful, it could pave the way for more tech startups as investor appetite grows.

“Historically, Southeast Asia has had a slightly more difficult time getting on the radar alongside China and India,” said Hoppe. “The last few years have shown that the digital economy is now at least competing with India. But the potential is clearly there and I think international investors have become aware of it.”

Prepare for global alignment

With the newly combined resources and thriving business in the new landscape, the company is now planning its expansion strategy, including an ambitious promise of sustainability.

“GoTo comes with a great responsibility,” said Tanuwijaya. “We’re trying to provide solutions to a problem we figured out a decade ago. But that solution will also create another problem: with millions of drivers, emissions, so many dealerships, packaging, and so on.”

GoTo is an Indonesian technology company that emerged in May 2021 from the merger of ridesharing giant Gojek and the e-commerce platform Tokopedia.

Go to

“That’s why we’re committed to truly zero waste and zero emissions by 2030 and become a company that can be a legacy for the next generation.”

The bold ambitions imply that the GoTo of 2030 could look very different than it is today. But as for the leaders, they’re just getting started.

“Our ambitions are without a doubt global,” said Aluwi. “We are not only active in Indonesia and we firmly believe that the future of our combined group is beyond one country.”

Do not miss: How 3 friends from Indonesia’s street stalls made a billion dollar business

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Indoor leisure middle undergoes merger

An entertainment destination in Sterling Heights is racing into the future.

Since the Kart 2 Kart Entertainment Center first opened in 2000, owner Tony Eckrich has made a few adjustments over the years. With a full-service bar and racing go-karts that reach top speeds at speeds of around 60 mph, Kart 2 Kart was originally an adults-only destination, ideal for groups and company outings. As an adaptation to the recession of 2008 and ’09, Eckrich expanded the facility to accommodate junior karts and made Kart 2 Kart a destination for the whole family. He would expand ax throwing in 2018.

2020 would see her biggest changes yet.

“With the COVID-19 madness, the question arose: Will we be here next year?” Says Eckrich.

That question partly led Eckrich Kart 2 Kart to merge with Full Throttle Adrenaline Park, a like-minded company that first opened in Cincinnati in 2012. Today he is part of the Full Throttle Ownership Group, a growing company with six indoor go-kart racing tracks in Michigan, Kentucky and Ohio. They will celebrate the renaming of Novis JD Racing Indoor Karting to a different Full Throttle location later this month.

“Maybe there will be new signs with new names, but we still have the same great faces,” says Eckrich. “And we want to add more activities in Sterling Heights.”

At the beginning of this year, Eckrich introduced the Adrenaline Pass, an indication of a later company-wide rebranding in May. Guests can purchase the two-hour pass that guarantees entry to the park and access to its amenities.

“The two-hour pass came from Covid and with capacity restrictions. Historically, we have a one to two hour wait on a Saturday evening. The pass allows us to manage this and provide a better experience for our guests. And better value for money, ”he says.

“And the employees have more fun because they are not so stressed and overworked to cope with the crowds.”

In addition to indoor kart racing, ax throwing and its food and drink options, the Sterling Heights Full Throttle will also be adding some new activities soon. Eckrich expects that a virtual reality center and a “rage room” will be added somewhere in the next 90 days. Rage Rooms, a growing trend, welcome guests to smash televisions and old appliances with sledgehammers and other tools.

“At Full Throttle, I find confidence in the fact that we’re doing things similarly. We will preserve the integrity of what I developed over 20 years ago, ”says Eckrich.

“We have the same opinions on safety and that is our number one priority.

“The experience won’t change, but it will improve.”

Full throttle adrenaline park located at 42705 Van Dyke Ave. in Sterling Heights.

Madison Sq. Backyard Leisure Corp. and MSG Networks Inc. Announce Key Submitting Dates and Plans to Host Joint Webcast on Proposed Merger

NEW YORK–() – Madison Square Garden Entertainment Corp. („MSG Entertainment“) (NYSE: MSGE) gab heute bekannt, dass am Freitag, dem 7. Mai 2021, vor Marktöffnung eine Pressemitteilung veröffentlicht werden soll, in der die Finanzergebnisse für das abgelaufene dritte Geschäftsquartal veröffentlicht werden 31. März 2021. MSG Networks Inc. („MSG Networks“) (NYSE: MSGN) gab zuvor bekannt, dass es am Freitag, dem 7. Mai 2021, vor Marktöffnung eine Pressemitteilung veröffentlichen wird, in der die Finanzergebnisse für das im März endende dritte Geschäftsquartal veröffentlicht werden 31, 2021.

Darüber hinaus plant MSG Entertainment, eine Registrierungserklärung auf Formular S-4 einzureichen, die eine gemeinsame Proxy-Erklärung und einen gemeinsamen Prospekt enthält, bevor der Markt am Freitag, dem 7. Mai 2021, eröffnet wird. MSG Entertainment und MSG Networks planen, eine gemeinsame Investorenpräsentation auf der Website einzureichen geplante Übernahme von MSG Networks durch MSG Entertainment am Freitag, den 7. Mai 2021.

Die Unternehmen planen, am Montag, dem 10. Mai 2021, um 16:30 Uhr Eastern Time einen gemeinsamen Webcast über die geplante Übernahme von MSG Networks durch MSG Entertainment zu moderieren, moderiert von Brandon Ross, Partner und TMT Analyst bei LightShed Partners. Die Veranstaltung wird per Webcast unter verfügbar sein investor.msgentertainment.com unter der Überschrift „Events & Presentations“ und unter investor.msgnetworks.com unter der Überschrift “Events & Presentations”.

Über Madison Square Garden Entertainment Corp.

Die Madison Square Garden Entertainment Corp. (MSG Entertainment) ist führend bei Live-Unterhaltungserlebnissen. Das Unternehmen präsentiert oder veranstaltet eine breite Palette von Veranstaltungen in seiner vielfältigen Sammlung von Veranstaltungsorten: New Yorks Madison Square Garden, Hulu Theatre im Madison Square Garden, Radio City Music Hall und Beacon Theatre; und das Chicago Theatre. MSG Entertainment baut außerdem in Las Vegas einen neuen hochmodernen Veranstaltungsort, MSG Sphere im The Venetian, und hat Pläne für den Bau einer zweiten MSG Sphere in London angekündigt, sofern die erforderlichen Genehmigungen vorliegen. Darüber hinaus zeigt das Unternehmen die Originalproduktion – das Weihnachtsspektakel mit den Radio City Rockettes – und produziert über Boston Calling Events das Boston Calling Music Festival. Unter dem Dach von MSG Entertainment befindet sich auch die Tao Group Hospitality mit Marken für Unterhaltungsrestaurants und Nachtleben, darunter Tao, Marquee, Lavo, Avenue, Beauty & Essex, Cathédrale, Hakkasan und Omnia. Weitere Informationen finden Sie unter www.msgentertainment.com.

Über MSG Networks Inc.

MSG Networks Inc., ein Pionier in den Sportmedien, besitzt und betreibt zwei preisgekrönte regionale Sport- und Unterhaltungsnetzwerke sowie einen begleitenden Streaming-Dienst, der den landesweit führenden Medienmarkt, den New York DMA, sowie andere Teile von New York bedient , New Jersey, Connecticut und Pennsylvania. Die Netzwerke bieten eine breite Palette überzeugender Sportinhalte, darunter exklusive lokale Live-Spiele und andere Programme der New York Knicks, der New York Rangers, der New York Islanders, der New Jersey Devils und der Buffalo Sabres sowie eine umfassende Berichterstattung über die New York Giants und Buffalo Bills. Dieser Inhalt hat neben einer Vielzahl anderer Sportveranstaltungen und der von der Kritik gefeierten Originalprogrammierung MSG Networks als Goldstandard im regionalen Sport etabliert.

Zusätzliche Informationen und wo sie zu finden sind

Diese Pressemitteilung kann als Werbematerial für die geplante Transaktion zwischen MSG Entertainment und MSG Networks angesehen werden. Im Zusammenhang mit der geplanten Transaktion beabsichtigen MSG Entertainment und MSG Networks, bei der Securities and Exchange Commission („SEC“) eine Registrierungserklärung auf Formular S-4 einzureichen, die eine gemeinsame Proxy-Erklärung von MSG Entertainment und MSG Networks enthält, aus der auch besteht ein Prospekt von MSG Entertainment. MSG Entertainment und MSG Networks können bei der SEC auch andere Dokumente bezüglich der geplanten Transaktion einreichen. Dieses Dokument ist kein Ersatz für die gemeinsame Proxy-Erklärung / den gemeinsamen Prospekt, das Formular S-4 oder ein anderes Dokument, das MSG Entertainment oder MSG Networks bei der SEC einreichen können. INVESTOREN UND SICHERHEITSINHABER VON MSG ENTERTAINMENT UND MSG NETWORKS SIND VERPFLICHTET, DIE REGISTRIERUNGSERKLÄRUNG, die GEMEINSAME PROXYERKLÄRUNG / den GEGENSTANDSPROSPEKT UND ALLE ANDEREN RELEVANTEN DOKUMENTE, DIE ANGEGEBEN SIND oder ANGEGEBEN WERDEN , SORGFÄLTIG UND VOLLSTÄNDIG, WEIL SIE WICHTIGE INFORMATIONEN ÜBER DIE VORGESCHLAGENE TRANSAKTION ENTHALTEN ODER ENTHALTEN WERDEN. Anleger und Wertpapierinhaber können kostenlose Kopien des Formulars S-4 und der gemeinsamen Proxy-Erklärung / des gemeinsamen Prospekts (sofern verfügbar) sowie anderer Dokumente, die von MSG Entertainment und MSG Networks bei der SEC eingereicht wurden, auf der Website der SEC unter www.sec.gov erhalten. Kopien von Dokumenten, die von MSG Entertainment bei der SEC eingereicht wurden, werden kostenlos auf der Investor Relations-Website von MSG Entertainment unter https://investor.msgentertainment.com zur Verfügung gestellt. Kopien von Dokumenten, die von MSG Networks bei der SEC eingereicht wurden, werden kostenlos auf der Investor Relations-Website von MSG Networks unter https://investor.msgnetworks.com zur Verfügung gestellt.

Kein Angebot oder Aufforderung

Diese Mitteilung dient nur zu Informationszwecken und ist nicht dazu gedacht und stellt kein Angebot zum Verkauf oder zur Aufforderung zur Abgabe eines Angebots zum Abonnieren oder Kaufen oder zur Aufforderung zur Stimmabgabe oder Genehmigung in einer Rechtsordnung dar, und es wird auch keine geben Verkauf, Ausgabe oder Übertragung von Wertpapieren in einer Gerichtsbarkeit, in der ein solches Angebot, ein solcher Verkauf oder eine solche Werbung rechtswidrig wäre, bevor sie gemäß den Wertpapiergesetzen einer solchen Gerichtsbarkeit registriert oder qualifiziert werden. Es wird kein Angebot von Wertpapieren gemacht, außer mittels eines Prospekts, der die Anforderungen von Abschnitt 10 des Securities Act von 1933 in seiner jeweils gültigen Fassung und ansonsten in Übereinstimmung mit geltendem Recht erfüllt.

Teilnehmer an der Aufforderung

MSG Entertainment, MSG Networks und einige ihrer jeweiligen Direktoren und leitenden Angestellten können als Teilnehmer an der Einholung von Stimmrechtsvertretern der Inhaber von MSG Entertainment- und MSG Networks-Wertpapieren in Bezug auf die geplante Transaktion gemäß den Regeln der SEC angesehen werden. Bestimmte Informationen zu diesen Direktoren und leitenden Angestellten sowie eine Beschreibung ihrer direkten und indirekten Interessen durch Wertpapierbestände oder auf andere Weise werden in das Formular S-4 und die gemeinsame Proxy-Erklärung / den gemeinsamen Prospekt bezüglich der geplanten Transaktion (sofern verfügbar) und anderer relevanter Informationen aufgenommen Materialien, die von MSG Entertainment und MSG Networks bei der SEC eingereicht werden müssen. Informationen zu den Direktoren und leitenden Angestellten von MSG Entertainment finden Sie in der Proxy-Erklärung von MSG Entertainment zu der am 27. Oktober 2020 bei der SEC eingereichten Jahreshauptversammlung 2020. Informationen zu den Direktoren und leitenden Angestellten von MSG Networks finden Sie in der Proxy-Erklärung von MSG Networks Diese Dokumente werden kostenlos bei den oben genannten Quellen erhältlich sein.

Vorausschauende Aussagen

Dieses Dokument enthält Aussagen, die zukunftsgerichtete Aussagen im Sinne des Private Securities Litigation Reform Act von 1995 in seiner jeweils gültigen Fassung darstellen können. Einige dieser zukunftsgerichteten Aussagen können durch die Verwendung zukunftsgerichteter Wörter wie „glaubt“, „erwartet“, „kann“, „wird“, „sollte“, „sucht“, „ungefähr“ und „beabsichtigt“ identifiziert werden , “Pläne”, “Schätzungen”, “Projekte”, “Strategie” oder “antizipiert” oder das Negative dieser Wörter oder einer anderen vergleichbaren Terminologie. Das Fehlen dieser Wörter bedeutet jedoch nicht, dass die Aussagen nicht zukunftsgerichtet sind. Diese zukunftsgerichteten Aussagen umfassen, ohne darauf beschränkt zu sein, Aussagen bezüglich der geplanten Transaktion, Pro-forma-Beschreibungen des kombinierten Unternehmens und seiner Geschäftstätigkeit, Integrations- und Übergangspläne, Synergien, Chancen und erwartete zukünftige Leistung. Solche zukunftsgerichteten Aussagen sind keine Garantie für zukünftige Leistungen oder Ergebnisse und beinhalten Risiken und Ungewissheiten. Die tatsächlichen Ergebnisse, Entwicklungen und Ereignisse können aufgrund verschiedener Faktoren, einschließlich, aber nicht beschränkt, erheblich von denen in den zukunftsgerichteten Aussagen abweichen zu den folgenden Faktoren: die Auswirkungen von Krisen im Bereich der öffentlichen Gesundheit wie Pandemien (einschließlich Coronavirus (COVID-19)) und Epidemien sowie alle damit verbundenen Unternehmens- oder Regierungsrichtlinien und -maßnahmen zum Schutz der Gesundheit und Sicherheit von Einzelpersonen oder Regierungsrichtlinien oder -maßnahmen Aufrechterhaltung des Funktionierens nationaler oder globaler Volkswirtschaften und Märkte; Die Fähigkeit von MSG Entertainment und MSG Networks, die Auswirkungen der COVID-19-Pandemie und die Maßnahmen, die Regierungsbehörden und bestimmte professionelle Sportligen ergriffen haben, wirksam zu bewältigen; das Eintreten eines Ereignisses, einer Änderung oder anderer Umstände, die zur Beendigung des Fusionsvertrags in Bezug auf die geplante Transaktion zwischen MSG Entertainment und MSG Networks führen oder auf andere Weise dazu führen könnten, dass die Transaktion nicht stattfindet; das Risiko, dass die Bedingungen für den Abschluss der geplanten Transaktion zwischen MSG Entertainment und MSG Networks möglicherweise nicht erfüllt oder aufgehoben werden, einschließlich des Risikos, dass Genehmigungen der Aktionäre von MSG Entertainment und MSG Networks, behördliche Genehmigungen und andere Genehmigungen nicht eingeholt werden müssen; das Risiko, dass die erwartete steuerliche Behandlung der geplanten Transaktion zwischen MSG Entertainment und MSG Networks nicht erreicht wird; potenzielle Rechtsstreitigkeiten im Zusammenhang mit der geplanten Transaktion zwischen MSG Entertainment und MSG Networks; Unsicherheiten hinsichtlich des Zeitpunkts des Vollzugs der geplanten Transaktion zwischen MSG Entertainment und MSG Networks; das Risiko, dass die vorgeschlagene Transaktion die aktuellen Geschäftspläne und den Betrieb von MSG Entertainment oder MSG Networks stört; die Fähigkeit von MSG Entertainment und MSG Networks, Schlüsselpersonal zu halten und einzustellen; unerwartete Kosten, Gebühren oder Aufwendungen, die sich aus der geplanten Transaktion ergeben; mögliche nachteilige Reaktionen oder Änderungen der Geschäftsbeziehungen von MSG Entertainment und MSG Networks aufgrund der Ankündigung, Anhängigkeit oder des Abschlusses der geplanten Transaktion; Wahrnehmung der Finanzgemeinschaft und der Ratingagenturen in Bezug auf MSG Entertainment und MSG Networks sowie deren Geschäft, Betrieb, Finanzlage und die Branche, in der das Unternehmen tätig ist; strategische oder finanzielle Vorteile oder Chancen, wenn die Fusion abgeschlossen ist; die Auswirkungen des Zusammenschlusses auf die Liquiditätsposition oder die finanzielle Flexibilität sowie andere potenzielle Auswirkungen der geplanten Transaktion; Möglichkeiten im Zusammenhang mit Sportspielen oder Wachstumsinitiativen; und die möglichen Auswirkungen allgemeiner wirtschaftlicher, politischer und marktbezogener Faktoren auf MSG Entertainment und MSG Networks oder die geplante Transaktion. Diese Risiken sowie andere Risiken im Zusammenhang mit der geplanten Transaktion zwischen MSG Entertainment und MSG Networks werden in der gemeinsamen Proxy-Erklärung / dem gemeinsamen Prospekt, die in der Registrierungserklärung auf Formular S-4 enthalten ist, bei der eingereicht wird, ausführlicher erörtert die SEC im Zusammenhang mit der geplanten Transaktion. Die Auswirkungen der COVID-19-Pandemie können zu derzeit unbekannten Risiken führen oder die mit vielen dieser Faktoren verbundenen Risiken verstärken. Darüber hinaus unterliegen die zukünftige Leistung und die tatsächlichen Ergebnisse anderen Risiken und Ungewissheiten, die sich allgemeiner auf die allgemeine Geschäfts- und Finanzlage von MSG Entertainment und MSG Networks beziehen, einschließlich derjenigen, die in den bei der SEC eingereichten Unterlagen von MSG Entertainment und MSG Networks einschließlich ihrer ausführlicher beschrieben sind entsprechende Jahresberichte auf Formblatt 10-K, nachfolgende Quartalsberichte auf Formblatt 10-Q und andere SEC-Einreichungen, einschließlich der darin enthaltenen Abschnitte mit dem Titel „Risikofaktoren“ und „Diskussion und Analyse der Finanzlage und der Ertragslage durch das Management“. Zukunftsgerichtete Aussagen gelten nur zum Zeitpunkt der Veröffentlichung, und MSG Entertainment und MSG Networks lehnen jede Verpflichtung ab, zukunftsgerichtete Aussagen zu aktualisieren oder zu überarbeiten, es sei denn, dies ist gesetzlich vorgeschrieben.

New merger means United Manner prescription card might prevent more cash on drugs

MACON, Ga. – The United Way of Central Georgia announced that it is merging its FamilyWize prescription drug card with the SingleCare rebate plan.

That means you could save even more money than you did before.

The merger offers a larger network of pharmacies and bigger prescription discounts.

According to United Way, the card has saved Central Georgians an average of 45% on prescriptions, but now those savings can increase to 80%.

“This card really works for everyone. If you get a prescription and give them the individual care information, the drugstore will run it and they’ll give you either the single card price, the insurance price, or the retail price, which is always lower,” said George McCanless .

The card is free, you don’t have to register and there are no conditions of participation.

Electrical automobile agency Lucid Motors to go public in $11.eight billion blank-check merger

The Lucid Air sedan, which is slated to go into production at a facility in Arizona next year.

Clear

Electric vehicle company Lucid Motors plans to go public with a combined stock valuation of $ 11.75 billion and a pro forma stock value of $ 24 billion through a reverse merger with a blank check company founded by veteran investment banker Michael Klein.

The deal between Lucid of Newark, California and Churchill Capital Corp IV is the largest in a series of such amalgamations involving EV companies and blank check companies, also known as Special Purpose Acquisition Companies (SPACs).

Previous SPAC dealt with EV startups like Nikola, Fisker and Lordstown Motors scored less than $ 4 billion in pro forma valuations, but Lucid is ahead of these companies. Lucid will deliver its first vehicle – a Luxury sedan called Air – this spring.

The deal will generate approximately $ 4.4 billion in cash for expansion plans for Lucid, including the current Arizona factory.

Shares of CCIV fell around 30% to $ 40 in expanded trading.

Lucid is run by ex-Tesla Technical director and automotive veteran Peter Rawlinson, who joined the company in 2013 as Chief Technology Officer before adding CEO to his duties in April 2019. He will continue to assume these roles after the business is expected to close in the second quarter, according to the companies.

Lucid was founded in 2007 as Atieva, a name it now uses for its technical and engineering division that supplies batteries for the Formula E electric circuit. The company initially focused on electric battery technology before changing its name to an electric vehicle manufacturer in 2016, three years after Rawlinson joined the company to lead technology development.

Lucid struggled with some difficulty raising capital to fund his plans until he received $ 1 billion from the Saudi Arabian sovereign wealth fund in September 2018.

Rawlinson described SPAC deals last year as easy money, but not enough capital to get a vehicle into production, which companies like Fisker To seek contract manufacturers.

Prior to the announcement at Klein’s company, Rawlinson said the company had the funds to begin producing the air at a facility in Casa Grande, Arizona, southeast of Phoenix.

The new funding is intended to support Lucid in its expansion plans. Rawlinson expects the Air to be the catalyst for a number of future all-electric vehicles, including an SUV starting production in early 2023, and cheaper vehicles across the board.

Lucid currently employs almost 2,000 people. The US is expected to employ 3,000 people domestically by the end of 2022.

The deal includes a total investment of around $ 4.6 billion. It is funded with $ 2.1 billion in cash from CCIV and a fully committed PIPE of $ 2.5 billion at $ 15 per share from the Saudi Arabian state fund, as well as funds and accounts held by BlackRock, Fidelity and managed by others.

Launch of KAKAO ENTERTAINMENT by means of strategic merger of Kakao Web page and Kakao M

The combination of Kakao Page and Kakao M means creating a Korean entertainment giant that is about to generate KRW 1 trillion in annual revenue. At a time when the global entertainment industry is facing tough competition due to the appearance of new players in the industry, this strategic merger was decided to give KAKAO ENTERTAINMENT a competitive advantage in the market. This is also the first large-scale merger between the subsidiaries of Kakao Corp., the technology conglomerate behind Korea’s most popular messaging app, Kakao Talk.

The merger of Kakao Page and Kakao M is expected to create a robust synergy effect given the capabilities of the respective companies in the content business and on digital platforms and lay the foundation for KAKAO ENTERTAINMENT’s next growth phase through global expansion.

Through the merger, KAKAO ENTERTAINMENT will have an unparalleled business portfolio and value chain, including 50 subsidiaries and affiliates in all sectors of the entertainment industry. Kakao Page offers a special value chain that is optimized for both the creation of original content and the creation of original content a global platform network, while Kakao M offers expertise in creating music, TV series, films, performances as well a Portfolio of Korea’s best creative talent.

With this foundation, KAKAO ENTERTAINMENT will expand its investments and strategic partnerships with industry leaders to develop into a global entertainment company. In addition to diversifying its business, the company will focus on producing blockbuster media franchises that will captivate global audiences and look for various ways to create synergies between combined assets.

Kakao Page commented: “The merger of Kakao Page and Kakao M is that of a strategic alliance to build a foundation for competition in the global entertainment industry. By combining the two companies’ business acumen, skills and value chain, we aim to disrupt the global entertainment industry. “

Kakao M commented: “The decision to combine our expertise in content and digital platforms was made so that we can seriously compete in the highly competitive global entertainment sector. Together we can accelerate and develop into a global player.”

About Cocoa Page Corp.

Cocoa Page Corp. specializes in creating compelling IPs for stories, mainly in the form of webtoons and web novels. The company pioneered the Korean story entertainment industry in 2014 with an innovative monetization model called “Wait or Pay”. In addition to this growth model, the company’s active investment in 16 subsidiaries and affiliates paved the way for Kakao Page Corp. highest number of original titles in Korea (8,500 IPs). The company operates two digital platforms in Korea, the “Kakaopage” platform of the same name and the world’s first Webtoon platform called “Daum Webtoon”. The company also has widespread global platform networks in Japan, North America, Greater China and ASEAN regions. The original content of Kakao Page Corp. have been converted into various derivative formats such as TV series, movies, games and are popular in too Japan, the world’s largest comic book market, and in North America Regions.

About Kakao M Corp.

Cocoa M Corp. has unrivaled production capacity for content on mobile, TV, screen and live platforms with 7 leading talent management subsidiaries, 4 music labels and various production companies for drama, film and performance. Cocoa M Corp. has a significant market share in the Korean music industry and produces over 1,200 tracks annually. In addition, the company has 80 top creators, 150 celebrities and a large number of star producers in its talent portfolio. Kakao M also runs its own studio recruiting Korea’s most wanted producers and operate a new genre of experimental and fun mobile content.

SOURCE Cocoa Page Corp.

Launch of KAKAO ENTERTAINMENT by strategic merger of Kakao Web page and Kakao M

TipRanks

3 top dividend stocks with growth opportunities; Goldman Sachs Says “Buy”

Investing is about making a profit, and investors have long seen two main paths towards that goal. Growth stocks, stocks that generate a return based primarily on the appreciation of the stock price, is one way. The second route is through dividend stocks. These are stocks that pay back a percentage of profits to shareholders – a dividend that is usually paid quarterly. Payments vary widely from less than 1% to more than 10%, but the average among stocks listed on the S&P 500 is around 2%. Dividends are a nice addition for a patient investor as they provide a steady stream of income. Goldman Sachs analyst Caitlin Burrows has looked into the real estate trust segment, a group of stocks long known for high and reliable dividends – and she sees many reasons to expect strong growth in three stocks in particular. As we led the trio through TipRanks’ database, we learned that all three were cheered on by the rest of the street as well, as they have an analyst consensus of “Strong Buy”. Broadstone Net Lease (BNL) First off, Broadstone Net Lease is an established REIT that went public last September and grossed over $ 533 million. The company launched 33.5 million shares, followed by another 5 million shares, which were acquired by subscribers. It was viewed as a successful opening and BNL now has a market cap of over $ 2.63 billion. Broadstone’s portfolio includes 628 properties in 41 states and the Canadian province of British Columbia. These properties have 182 tenants and are valued at $ 4 billion. The best feature here is the long-term nature of the leases – the weighted average remaining lease is 10.8 years. For the third quarter, the most recent with full financial data available, BNL posted net income of $ 9.7 million, or 8 cents per share. Most of its income came from rents, and the company said it collected 97.9% of rents due in the quarter. Looking ahead, the company expects property acquisitions of $ 100.3 million in the fourth quarter and an increased rent collection rate of 98.8%. Broadstone’s earnings and high rental income support a dividend of 25 cents per common share, or $ 1 a year. This payment is affordable for the company and offers investors a 5.5% return. Goldman’s Burrows sees the company’s acquisition moves as the most important factor. “Acquisitive acquisitions are the main earnings driver for Broadstone … While management stopped acquisitions after COVID-induced market uncertainties (BNL did not make any acquisitions in the first half of 20) and before going public, we are confident that the acquisitions will be in 2021 will begin activity in the fourth quarter of 20 … We estimate that BNL has a positive investment spread of 1.8%, resulting in earnings growth of 0.8% (to 2021E FFO) per $ 100 million acquisitions (or 4, To this end, Burrows rates BNL as a buy and their target price of $ 23 implies an uptrend of ~ 27% for the coming year. (Click to see Burrow’s track record You here.) Wall Street broadly agrees with Burrows on Broadstone, as evidenced by the 3 positive ratings the stock has received over the past few weeks the only ratings available to make the analysts’ consensus rating a unanimous strong buy. The shares are currently valued at $ 18.16 and the average target price is $ 21.33, which corresponds to a year-long upward trend of ~ 17%. (See BNL stock analysis on TipRanks.) Realty Income Corporation (O) Realty Income is a major player in the REIT space. The company has a portfolio valued at more than $ 20 billion with more than 6,500 properties in 49 states, Puerto Rico and the United Kingdom. Annual sales exceeded $ 1.48 billion in fiscal 2019 (the last with full data) and has held a monthly dividend for 12 years. If we look at the latest data, we find that O had earnings of 7 cents per share and total revenue of $ 403 million for the third quarter of 20. The company collected 93.1% of its contracted rents in the quarter. A drill down to the monthly values ​​is relatively low, but shows that the rental collection rates have increased since July. As already mentioned, O pays a monthly dividend and has done so regularly since it was listed on the stock exchange in 1994. The company increased its payout in September 2020, marking the 108th increase in that time. The current payment is 23.45 cents per common share, which equates to an annual return of $ 2.81 – and a return of 4.7%. Based on the above, Burrows has placed this stock on their Americas Conviction List with a Buy rating and a target price of $ 79 for the next 12 months. This target implies an upward movement of 32% from the current level. Burrows reiterated their stance: “We estimate FFO growth of 5.3% per annum over the period 2020E-2022E versus an average of 3.1% for full REIT coverage. We assume that the main drivers of earnings will be a sustained recovery in acquisition volume and a gradual improvement in theater rents (in 2022). The analyst added, “We expect O to make acquisitions of $ 2.8 billion each in 2021 and 2022, which is the consensus expectation of $ 2.3 billion. [We] We believe our acquisition volume assumptions may actually turn out to be conservative, given that eight days after 2021, the company has already made or approved acquisitions worth $ 807.5 million (or 29% of our 2021 estimate). “Overall, Wall Street is taking a bullish stance on Realty Income stocks. 5 buys and 1 hold issued in the past three months make the stock a strong buy. Meanwhile, the average price target indicates $ 69.80 on an upward movement of ~ 17% against the current share price (see O share analysis on TipRanks) Essential Properties Realty Trust (EPRT) Most recently, Essential Properties owns and manages a portfolio of single-tenant commercial properties in the US There are 214 tenants in more than 1,000 properties in 16 industries including car washes, convenience stores, medical services and restaurants. Essential Properties has a high occupancy rate of 99.4% for its properties. In the third quarter of 20, the company saw sales increase 18.2% over the Last year, reaching $ 42.9 million. Essential Properties F ended the quarter with an impressive amount of liquid available $ 589.4 million including cash, cash equivalents, and available credit. The strong cash position and rising sales left the company confident enough to raise its dividend for the fourth quarter. The new dividend payment is 24 cents per common share, 4.3% more than the previous payment. The current interest rate is 96 cents and gives a return of 4.6%. The company has been increasing its dividend regularly for the past two years. In her review for Goldman, Burrows focuses on the recovery Essential Properties has had since the peak of the COVID panic last year. “When protection mandates went into effect in early 2020, only 71% of EPRT’s properties were open (fully or to a limited extent). This situation has improved over the past few months and now only 1% of the EPRT portfolio is closed. We anticipate EPRT’s future earnings growth to be driven by acquisition gains and estimate 2.8% potential earnings growth from $ 100 million acquisitions, ”Burrows wrote. In keeping with their bullish approach, Burrow’s EPRT stock is rated buy and a price target of $ 26 for a year, indicating an upward trend of 27%. Overall, EPRT has 9 current analyst ratings, and the 8 buy and 1 sell breakdown gives the stock a strong buy consensus rating. The shares are priced at $ 20.46 and have an average price target of $ 22.89, which represents an upside potential of ~ 12% from current levels. (See EPRT stock analysis on TipRanks.) To find great ideas for trading dividend stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buy, a newly launched tool that brings together all of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the presented analysts. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.