Daily Archives: June 1, 2020

WillScot to Participate in the Deutsche Bank 2020 Global Industrials & Materials Summit – Virtual

BALTIMORE, June 01, 2020 (GLOBE NEWSWIRE) — WillScot Corporation (“WillScot”) (Nasdaq: WSC), the specialty rental services market leader providing innovative modular space and portable storage solutions across North America, today announced that Brad Soultz, President and Chief Executive Officer, and Tim Boswell, Chief Financial Officer, will host virtual meetings with investors during Deutsche Bank’s 2020 Global Industrials & Materials Summit – VIRTUAL.  The meetings are by appointment only and will take place on Monday, June 8th, 2020.

About WillScot Corporation

Headquartered in Baltimore, Maryland, WillScot is the public holding company for the Williams Scotsman family of companies. WillScot trades on the Nasdaq stock exchange under the ticker symbol “WSC,” and is the specialty rental services market leader providing innovative modular space and portable storage solutions across North America. WillScot is the modular space supplier of choice for the construction, education, health care, government, retail, commercial, transportation, security and energy sectors. With over half a century of innovative history, organic growth and strategic acquisitions, WillScot serves a broad customer base from approximately 120 locations throughout the United States, Canada and Mexico, with a fleet of approximately 150,000 modular space and portable storage units.

Additional Information and Where to Find It

Additional information about WillScot can be found on its investor relations website: https://investors.willscot.com

Contact Information

Investor Inquiries:

Mark Barbalato
investors@willscot.com

Media Inquiries:

Scott Junk
scott.junk@willscot.com

cPacket Networks Rounds Out Solution by Adding Packet-to-Flow Gateway, Extensible Storage, and Self-Encrypted Drives

 New cProbe® and Additions to Existing cStor® Family Enable New Use Cases and Offer More Options for Customers

SAN JOSE, Calif., June 01, 2020 (GLOBE NEWSWIRE) — cPacket Networks, a leading provider of AIOps-ready network-aware application performance and security assurance, has launched the new cProbe® series appliance. cProbe is a purpose-built device designed to collect packet-data from the network, construct flow-data out of it, and export it in standard (NetFlow/IPFIX) format to be consumed by security and performance tools, flow collectors, and analytics applications. This enables network operators to monitor bandwidth identifying client devices, applications consuming most bandwidth, policy shaping, capacity planning, identifying throughput bottlenecks, containing shadow-IT, and using the data for security analysis. cProbe-V® provides the same capabilities in virtualized and multi-cloud environments.

There are many applications across the enterprise IT and service providers that require flow-data for extended network visibility,said Nadeem Zahid, VP of Product Management at cPacket Networks. “cPacket cProbe provides superior performance, better efficiency, and lower costs compared to mechanisms such as flow-export licenses with traditional packet brokers, which is expensive and does not scale.”

cPacket also adds the cPacket Extensible Storage (CES) capability to its existing cStor® series packet capture appliances. CES adds external storage capacity of up to 1.6 Petabytes for retaining packet data for compliance and security forensics; desired by financial services, healthcare, and other regulated industries.

Additionally, cStor now offers a Self-Encrypted Drives (SED) option for storing the packet data in a secure manner.

To learn more, visit cProbe and cStor product pages.

About cPacket Networks
cPacket enables IT through network-aware application performance and security assurance across the distributed hybrid environment. Our AIOps-ready single-pane-of-glass analytics provide the deep network visibility required for today’s complex IT environments. With cPacket, you can efficiently manage, secure, and future-proof your network – enabling digital transformation. cPacket solutions are fully reliable, tightly integrated, and consistently simple. cPacket enables organizations around the world to keep their business running. Our cutting-edge technology enables network, application, and security teams to proactively identify issues before negatively impacting the business. The result: increased security, reduced complexity, and increased operational efficiency.

Learn more at cpacket.com, read our blogs, or follow us on Twitter, LinkedIn, Facebook, YouTube, and BrightTalk.

Media Contact:

Steve Farnsworth
sfarnsworth@cpacketnetworks.com
650-275-3656

WillScot Announces $500 Million Senior Secured Notes Offering

BALTIMORE, June 01, 2020 (GLOBE NEWSWIRE) — WillScot Corporation (Nasdaq: WSC) (“WillScot”), a specialty rental services market leader providing innovative modular space and portable storage solutions across North America, today announced that its indirect subsidiary, Picasso Finance Sub Inc. (“Issuer”), plans to offer up to $500 million in aggregate principal amount of senior secured notes due 2025 (the “Notes”). WillScot intends to use the offering proceeds, together with funds from WillScot’s fully committed $2.4 billion ABL credit facility, to be entered into at the closing of the Merger (as defined below), to repay all outstanding indebtedness under its existing ABL Facility and Mobile Mini Inc.’s (“Mobile Mini”) existing ABL Facility, repay all of Mobile Mini’s outstanding senior notes, and repay all of Williams Scotsman International, Inc.’s (“WSII”) senior secured notes due 2022 (collectively, the “Refinancing Transactions”), in connection with WillScot’s pending merger with Mobile Mini (the “Merger” or the “Proposed Transaction”), and to pay fees and expenses related to the Refinancing Transactions and the Merger.

The Issuer, a wholly-owned subsidiary of WSII, was formed to issue notes to facilitate the Refinancing Transactions in connection with the Merger. If the offering is consummated, the initial purchasers will deposit the gross offering proceeds into an escrow account. Upon consummation of the Merger and the satisfaction of other conditions, the escrowed proceeds will be released to complete the Refinancing Transactions and pay Refinancing Transaction and Merger related fees and expenses. Upon the closing of the Merger, the Issuer will also merge with and into WSII, with WSII continuing as the surviving corporation, and WSII will assume the obligations of the Issuer under the Notes and the indenture governing the Notes. If the Merger is not completed by a specified date or certain other events occur, the Notes will be subject to a special mandatory redemption.

The Notes are being offered in a private placement transaction to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States in accordance with Regulation S under the Securities Act. The Notes will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.  This press release does not constitute an offer to sell any security and shall not constitute an offer to sell or the solicitation of any offer to buy any security in any jurisdiction in which such offer or solicitation would be unlawful.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. The words “estimates,” “expects,” “anticipates,” “believes,” “forecasts,” “plans,” “intends,” “may,” “will,” “should,” “shall,” “outlook” and variations of these words and similar expressions identify forward-looking statements, which are generally not historical in nature. Certain of these forward-looking statements relate to the proposed business combination (the “Proposed Transaction”) involving WillScot and Mobile Mini, including: expected scale; operating efficiency; stockholder, employee and customer benefits; key assumptions; timing of closing; the amount and timing of revenue and expense synergies; future financial benefits and operating results; and integration spend, which reflects management’s beliefs, expectations and objectives as of the date hereof. Forward-looking statements are subject to a number of risks, uncertainties, assumptions and other important factors, many of which are outside our control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Although WillScot believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance that any such forward-looking statement will materialize. Important factors that may affect actual results or outcomes include, among others, our ability to acquire and integrate new assets and operations; our ability to achieve planned synergies related to acquisitions; our ability to manage growth and execute our business plan; our estimates of the size of the markets for our products; the rate and degree of market acceptance of our products; the success of other competing modular space and portable storage solutions that exist or may become available; rising costs adversely affecting our profitability (including cost increases resulting from tariffs); potential litigation involving our company; general economic and market conditions impacting demand for our products and services; implementation of tax reform; our ability to implement and maintain an effective system of internal controls; and such other risks and uncertainties described in the periodic reports we file with the SEC from time to time (including our Form 10-K for the year ending December 31, 2019 and our Form 10-Q for the quarter ended March 31, 2020), which are available through the SEC’s EDGAR system at www.sec.gov and on our website. Any forward-looking statement speaks only at the date on which it is made, and WillScot disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Important Information About the Proposed Transaction

In connection with the Proposed Transaction, WillScot filed a registration statement on Form S-4 (No. 333-237746), originally filed on April 17, 2020, which includes a prospectus of the Company and a joint proxy statement of the Company and Mobile Mini (the “joint proxy statement/prospectus”). The registration statement was declared effective by the SEC on May 5, 2020, and WillScot and Mobile Mini commenced mailing the joint proxy statement/prospectus on or about May 8, 2020. Each party will file other documents regarding the Proposed Transaction with the SEC. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY, IF AND WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT STOCKHOLDERS SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain these documents (if and when available) free of charge from the SEC’s website at www.sec.gov. The documents filed by the Company with the SEC may also be obtained free of charge from the Company by requesting them by mail at WillScot Corporation, 901 S. Bond Street, Suite 600, Baltimore, Maryland 21231. The documents filed by Mobile Mini may also be obtained free of charge from Mobile Mini by requesting them by mail at Mobile Mini, Inc. 4646 E. Van Buren Street, Suite 400, Phoenix, Arizona 85008.

Participants in the Solicitation

WillScot, Mobile Mini, their respective directors and executive officers and other members of management and employees and certain of their respective significant stockholders may be deemed to be participants in the solicitation of proxies in respect of the Proposed Transaction. Information about WillScot’s directors and executive officers is available in WillScot’s proxy statement, dated March 20, 2020, as supplemented by the supplement dated April 13, 2020, for the 2020 Annual Meeting and WillScot’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on March 2, 2020. Information about Mobile Mini’s directors and executive officers is available in Mobile Mini’s proxy statement, dated March 16, 2020 as supplemented by the supplement dated April 10, 2020, for its 2020 Annual Meeting of Stockholders and Mobile Mini’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on February 3, 2020. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holding or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the Proposed Transaction when they become available. Investors should read the joint proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the SEC, WillScot or Mobile Mini as indicated above.

No Offer or Solicitation

This press release shall 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 jurisdiction 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.

Contact Information

Investor Inquiries:

Mark Barbalato
investors@willscot.com

Media Inquiries:

Scott Junk
scott.junk@willscot.com

Bombardier Concludes Sale of the CRJ Series Regional Jet Program to Mitsubishi Heavy Industries

All amounts in this press release are in U.S. dollars unless otherwise indicated.

MONTREAL, June 01, 2020 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) confirmed today the closing of the previously announced sale of the CRJ Series aircraft program to Mitsubishi Heavy Industries, Ltd (MHI) (TOKYO:7011) for a cash consideration of approximately $550 million, subject to post-closing adjustments and the assumption of liabilities by MHI related to credit and residual value guarantees and lease subsidies amounting to approximately $200 million. Under the agreement, the Corporation’s net beneficial interest in the Regional Aircraft Securitization Program (RASPRO), which is valued at approximately $170 million, has been transferred to MHI.

Through this sale, MHI acquires the maintenance, support, refurbishment, marketing, and sales activities for the CRJ Series aircraft, including the related services and support network located in Montréal, Québec, and Toronto, Ontario, and its service centres located in Bridgeport, West Virginia, and Tucson, Arizona, as well as the type certificates.

Bombardier will continue to supply components and spare parts and will assemble the remaining 15 CRJ aircraft in the backlog as of March 31, 2020 on behalf of MHI until the complete delivery of the current backlog, expected in the second half of 2020.

Bombardier retains certain liabilities representing a portion of the credit and residual value guarantees totalling $288 million as of March 31, 2020. This amount is largely fixed and not subject to future changes in aircraft value and is mainly payable by Bombardier over the next four years.

About Bombardier
With over 60,000 employees across two business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier has production and engineering sites in over 25 countries across the segments of Aviation and Transportation. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2019, Bombardier posted revenues of $15.8 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Bombardier is a trademark of Bombardier Inc.

For Information
Jessica McDonald Patrick Ghoche
Advisor, Media Relations Vice President, Corporate Strategy and Investor Relations
Bombardier Inc. Bombardier Inc.
+514 861 9481 +514 861 5727
jessica.mcdonald@bombardier.com

Jokowi leads virtual commemoration of Pancasila Day

Jakarta President JokoWidodo (Jokowi) virtually led the commemoration of the state ideology Pancasila Day through videoconferencing from the Garuda Room of the Bogor Presidential Palace in West Java, Monday.

In his address, the head of state affirmed that this year, Pancasila Day must be commemorated amid the COVID-19 pandemic, as it tested the nation’s fighting spirit, sacrifice, discipline, obedience, and composure in taking prompt and appropriate policy steps.

Jokowi further noted that Pancasila remained the cornerstone to forge ahead in a unified manner to overcome all challenges.

The president highlighted the need for all elements of the nation to come together in boosting unity and kinship by helping one another and sharing the workload.

Jokowi also called on the people to harbor belief that Indonesia is a nation of victors and that all should work together to overcome all deficiencies and weaknesses.

The president pointed to the tough challenges faced by the nation for which hard work was tantamount to tiding over the difficult, unprecedented time of the pandemic.

“Happy Pancasila Day. Let us always stand united, care for one another, and share with one another for the advancement of our beloved country,” Jokowi noted in his message.

Indonesian Vice-President Ma’ruf Amin, Chairperson of the Steering Committee and fifth President of Indonesia Megawati Soekarnoputri, chairs and heads of state agencies and institutions, ministers of the Onward Indonesian Cabinet, Chairmen of the Pancasila Ideology Development Board, and other invitees partook in the ceremony to commemorate Pancasila Day.

 

Source: Antara News