Essent Group Ltd. (NYSE: ESNT) announced today that its wholly-owned subsidiary, Essent Guaranty, Inc., has obtained $399.2 million of fully collateralized excess of loss reinsurance coverage on mortgage insurance policies written in September 2019 through July 2020 from Radnor Re 2020-2 Ltd., a newly formed Bermuda special purpose insurer. Radnor Re 2020-2 Ltd. is not a subsidiary or an affiliate of Essent Group Ltd.

Radnor Re 2020-2 Ltd. has funded its reinsurance obligations through the issuance of five classes of mortgage insurance-linked notes, with 10-year legal maturities, to eligible third party capital markets investors in an unregistered private offering.

The mortgage insurance-linked notes issued by Radnor Re 2020-2 Ltd. consist of the following five classes:

  • $79,832,000 Class M-1A Notes with an initial interest rate of one-month LIBOR plus 315 basis points;

  • $93,137,000 Class M-1B Notes with an initial interest rate of one-month LIBOR plus 400 basis points;

  • $93,137,000 Class M-1C Notes with an initial interest rate of one-month LIBOR plus 460 basis points;

  • $99,790,000 Class M-2 Notes with an initial interest rate of one-month LIBOR plus 560 basis points;

  • $33,263,000 Class B-1 Notes with an initial interest rate of one-month LIBOR plus 760 basis points;

The securities described herein have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the aforementioned securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom, such an offer, solicitation or sale would be unlawful.

Forward-Looking Statements

This press release may include “forward-looking statements” which are subject

HAYWARD, Calif., Oct. 6, 2020 /PRNewswire/ — Benitec Biopharma Inc. (NASDAQ: BNTC) (“Benitec” or “the Company”), a development-stage, gene therapy-focused, biotechnology company developing novel genetic medicines based on the proprietary DNA-directed RNA interference (“ddRNAi”) platform, today announced the closing of an underwritten public offering of 3,225,806 shares of its common stock (or common stock equivalents in lieu thereof) at an effective offering price of $3.10 per share of common stock. In addition, the Company also announced that the underwriter fully exercised its over-allotment option to purchase 483,870 additional shares of its common stock.


(PRNewsfoto/Benitec Biopharma Inc.)

H.C. Wainwright & Co. acted as the sole book-running manager for the offering.

The gross proceeds from this offering to the Company are approximately $11.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for the continued advancement of development activities for its product pipeline, general corporate purposes, and strategic growth opportunities.

A registration statement on Form S-1 (File No. 333-246314) relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC“) on October 2, 2020. This offering is being made only by means of a prospectus forming part of the effective registration statement. A final prospectus relating to and describing the terms of the offering has been filed with the SEC. Electronic copies of the final prospectus relating to the offering may be obtained for free by visiting the SEC’s website at www.sec.gov or by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, New York 10022, by email at [email protected] or by telephone at 646-975-6996.

This press release shall not constitute an offer to sell or a solicitation of an offer

DENVER, Oct. 6, 2020 /PRNewswire/ — Hycroft Mining Holding Corporation (Nasdaq: HYMC) (“Hycroft” or the “Company”), today announced the closing of its previously announced public offering (the “Offering”) of 9,583,334 units (which includes the exercise in full of the underwriters’ option to purchase 1,250,000 additional units) at a price to the public of $9.00 per unit.  The Offering was upsized from the initial offering of 7,220,000 units (not including the underwriters’ initial over-allotment option of 1,083,000 units). Each unit issued in the Offering consists of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $10.50 per share. The warrants are immediately exercisable and expire five years from the date of issuance. The Company does not plan to apply to list the warrants on The Nasdaq Capital Market, any other national securities exchange or any other nationally recognized trading system. The shares of common stock and warrants are immediately separable and were issued separately in the Offering.

(PRNewsfoto/Hycroft Mining Holding Corporat)
(PRNewsfoto/Hycroft Mining Holding Corporat)

After deducting underwriting discounts and commissions and estimated offering expenses payable by the Company, the net proceeds to the Company were approximately $83.1 million.

Diane Garrett, Hycroft’s President and CEO commented “we are very pleased with the success of this financing which allows us to continue advancing the Hycroft Mine and unlocking the value of this significant mineral endowment.  This financing also demonstrates the continued support of our existing shareholders and we welcome the many new shareholders who also participated.”

David Kirsch, Chairman of the Board, said “Hycroft has always been one of the largest gold and silver deposits in the world, and now coupled with Diane’s leadership and the proceeds of this financing, we believe Hycroft is well positioned for success as it continues

The fast-fashion retailer plans to lean toward more online shopping.

H&M plans to close 250 stores next year as they struggle with sales during the coronavirus pandemic.

The Swedish fashion retailer announced on Thursday that it plans to close hundreds of brick-and-mortar stores as a result of the ongoing COVID-19 crisis, which contributed to its 5% sales decline in September.

“More and more customers started shopping online during the pandemic, and they are making it clear that they value a convenient and inspiring experience in which stores and online interact and strengthen each other,” said H&M CEO Helena Helmersson in a statement.

She continued, “To ensure that our offerings are relevant to customers and improve availability in all channels, speed and flexibility will be even more important in the future, particularly in the supply chain.”

H&M currently has more than 5,000 stores, and the upcoming closures will account for 5% of them.

Like many other retailers, the pandemic forced some H&M stores to close resulting in lost revenue.

“Although the challenges are far from over, we believe that the worst is behind us and we are well placed to come out of the crisis stronger,” said Helmersson. “Demand for good value, sustainable products is expected to grow in the wake of the pandemic and our customer offering is well positioned for this.”

She added, “We are now accelerating our transformation work so that we continue to add value for our customer.”

H&M joins a host of other companies, such as Victoria’s Secret, JCPenney and several others, that have announced store closures.

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Nearly half of New York City bars and restaurants that were open pre-pandemic may close permanently within a year due to the coronavirus pandemic, according to an audit released Thursday by State Comptroller Thomas DiNapoli.

If a third — about 8,000 — of the restaurants and bars close, the city would lose more than 100,000 jobs, the report says. If half, or 12,000, of the enterprises close, around 160,000 jobs will be lost.

The city brought back indoor dining at restaurants and bars on Wednesday with a limit of 25% of seating capacity plus additional requirements, including temperature checks, wearing masks, and leaving contact-tracing information. 

During the pandemic restaurants and bars largely closed or continued to operate for takeout and through delivery apps. 

But many have already closed and owners have been quoted as saying that they’ll have a tough time making the nut with a 25% capacity limit. 

“The industry is challenging under the best of circumstances and many eateries operate on tight margins. Now they face an unprecedented upheaval that may cause many establishments to close forever,” DiNapoli said.

The report shows how Covid-19 has devastated employment at eateries. 

In February 2020, more than 315,000 people were working in New York City’s restaurant industry. By April, restaurant employment had dropped 71% to 91,000 jobs as the city – hit hard by the pandemic – largely closed and locked down. 

“As rules loosened and outdoor dining was permitted, employment rose, reaching 174,000 jobs in August,” the DiNapoli report says.

In September almost 43% of restaurants and bars citywide received sidewalk-seating permits, including 50% of places in Manhattan, and over 40% for each of Brooklyn and Queens. But New York weather is turning cooler, and outdoor dining will not work well into the late fall and winter.

In June, the