Loan Principal – Flight 93 http://flight93.org/ Sat, 25 Jun 2022 05:41:06 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://flight93.org/wp-content/uploads/2021/07/icon-5-150x150.png Loan Principal – Flight 93 http://flight93.org/ 32 32 Arbor Realty Trust closes a $1 https://flight93.org/arbor-realty-trust-closes-a-1/ Fri, 24 Jun 2022 23:20:21 +0000 https://flight93.org/arbor-realty-trust-closes-a-1/ UNIONDALE, NY, May 25, 2022 (GLOBE NEWSWIRE) — Arbor Realty Trust, Inc. (:ABR), today announced the closing of a $1.05 billion commercial real estate loan securitization (the “Securitization “). A total of approximately $873 million of investment grade notes have been issued (the “Notes”) and Arbor has retained subordinate interests in the issuance vehicle of […]]]>

UNIONDALE, NY, May 25, 2022 (GLOBE NEWSWIRE) — Arbor Realty Trust, Inc. (:ABR), today announced the closing of a $1.05 billion commercial real estate loan securitization (the “Securitization “). A total of approximately $873 million of investment grade notes have been issued (the “Notes”) and Arbor has retained subordinate interests in the issuance vehicle of approximately $177 million. The $1.05 billion guarantee includes approximately $73 million of capacity to acquire additional loans for a period of up to 180 days from the securitization closing date.

The Notes have an initial weighted average spread of 2.36% on forward SOFR, excluding fees and transaction costs. The facility has a replenishment period of approximately two years which allows the principal proceeds of repayments of portfolio assets to be reinvested in eligible replacement assets, subject to certain conditions.

The offering of investment grade notes was made pursuant to a private placement. The investment grade notes were issued pursuant to an indenture and initially secured by a portfolio of property-related assets and cash with a face value of $1.05 billion, such assets related to the real estate being mainly made up of first mortgage bridge loans.

Arbor intends to hold the portfolio of real estate-related assets through the vehicle until maturity and expects to account for the securitization on its balance sheet as financing. Arbor will use the proceeds from this securitization to repay borrowings under its current credit facilities, pay transaction costs and fund future loans and investments.

Certain of the Notes have been rated by Moody’s Investors Service, Inc. and all of the Notes have been rated by DBRS, Inc.

The Notes are not registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. prior to registration or qualification under the securities laws of such state or jurisdiction.

About Arbor Realty Trust, Inc.

Arbor Realty Trust, Inc. (:ABR) is a nationwide real estate investment trust and direct lender, providing loans and services for multi-family and single-family rental (SFR) portfolios and other real estate assets various trades. Based in New York, Arbor manages a multibillion-dollar portfolio of services, specializing in government-sponsored enterprise products. Arbor is a leading Fannie Mae DUS®, Freddie Mac Optigo® Seller/Servicer, and FHA Multifamily Accelerated Processing (MAP) approved lender. Arbor’s product platform also includes bridge, CMBS, mezzanine and senior loans. Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation for service, quality and personalized solutions with an unparalleled dedication to providing our clients with excellence throughout the life of a loan.

Safe Harbor Statement

Certain elements of this press release may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to a number of trends. and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Arbor cannot guarantee that its expectations will be met. Factors that could cause actual results to differ materially from Arbor’s expectations include, but are not limited to, changes in economic conditions generally, and real estate markets specifically, in particular, due to the uncertainties created by the COVID-19 pandemic, the continued ability to source new investments, changes in interest rates and/or credit spreads and other risks detailed in Arbor’s Annual Report on Form 10-K for fiscal year ended December 31, 2021 and its other reports filed with the SEC. These forward-looking statements speak only as of the date of this press release. Arbor expressly disclaims any obligation or undertaking to issue updates or revisions to any forward-looking statements contained herein to reflect any change in Arbor’s expectations with respect thereto or any change in events, conditions or circumstances about which a such statement is based.

Contact:
Arbor Realty Trust, Inc.
Paul Elenio, Chief Financial Officer
516-506-4422
[email protected]

Arbor-Realty-Trust.png

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First-time home buyers in CT can qualify for up to $50,000 under new program https://flight93.org/first-time-home-buyers-in-ct-can-qualify-for-up-to-50000-under-new-program/ Thu, 23 Jun 2022 13:19:31 +0000 https://flight93.org/first-time-home-buyers-in-ct-can-qualify-for-up-to-50000-under-new-program/ Governor Ned Lamont on Wednesday announced a state partnership with Webster Bank that will provide down payment and closing cost assistance to low- and moderate-income first-time homebuyers who enroll in the purchase program. of a first Connecticut Housing Finance Authority home. The “Time to Own” program, which launched last Monday, is administered by CHFA on […]]]>

Governor Ned Lamont on Wednesday announced a state partnership with Webster Bank that will provide down payment and closing cost assistance to low- and moderate-income first-time homebuyers who enroll in the purchase program. of a first Connecticut Housing Finance Authority home.

The “Time to Own” program, which launched last Monday, is administered by CHFA on behalf of the Connecticut Department of Housing and is funded by $20 million that has been allocated for home purchase assistance. a house by the State Bond Commission in December.

“I just want to say, on a personal note, ownership is really important,” Lamont said. “I want them [the community] be owners, so that they know that the community is invested in them and that they are invested in the community.


Seila Mosquera-Bruno, Commissioner of the Department of Housing, said rental costs in Hartford rose rapidly during the first quarter of 2022. On average, rental costs are 8% higher than in 2021. Still, the houses are sold at the asking price.

Nandini Natarajan, CEO and Executive Director of CHFA, said now is the time to buy a home for those who qualify.

“Some studies suggest it takes nine years for the average renter to save enough money to pay 20% down payment,” Natarajan said.

Natarajan said the program will provide some type of assistance to qualified homebuyers no matter where in the state they are.

“It’s about ensuring that no matter where people choose to put down roots in Connecticut, they have access to opportunities that will help them and their families thrive,” Natarajan said.

According to CHFA, “Time to Own” will cover up to 20% down payment and up to 5% closing costs. Ten percent of the principal balance will be canceled each year, on the anniversary date of loan closing, until the loan is fully canceled on the tenth anniversary.

John Ciulla, CEO and Chairman of Webster Bank, said Time to Own was a perfect fit for Webster’s $6.5 billion community investment program.

Hartford Mayor Luke Bronin said the program will create wealth among Connecticut families.

“One of the best ways to help families build wealth over time [and] escaping the intergenerational poverty trap is through home ownership,” Bronin said.

Senator Saud Anwar, D-South Windsor, said the scheme would bring back the American dream of home ownership.

Republican gubernatorial candidate Bob Stefanowski said while owning a home is important, Democrats have made it difficult to buy basic necessities.

“With Biden-Lamont inflation, it’s costing the average family an extra $656 a month just to get by,” Stefanoski said. “We don’t need gimmicks and giveaways for election year anymore, we need real tax reform that makes Connecticut more affordable.”

During the press conference, Natarajan said that 14 applications had been submitted for the program. Mosquera-Bruno said she believes 500 to 1,000 people will benefit from “Time to Own”.

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Sling Therapeutics in Ann Arbor Closes $35M Series A Funding https://flight93.org/sling-therapeutics-in-ann-arbor-closes-35m-series-a-funding/ Tue, 21 Jun 2022 00:06:20 +0000 https://flight93.org/sling-therapeutics-in-ann-arbor-closes-35m-series-a-funding/ Sling Therapeutics was launched following a $35 million Series A funding round for its oral small molecule for the treatment of thyroid eye disease (TED). // Image bank Sling Therapeutics Inc. of Ann Arbor, a biopharmaceutical company focused on the advanced development of an oral small molecule for the treatment of thyroid eye disease (TED), […]]]>
Sling Therapeutics was launched following a $35 million Series A funding round for its oral small molecule for the treatment of thyroid eye disease (TED). // Image bank

Sling Therapeutics Inc. of Ann Arbor, a biopharmaceutical company focused on the advanced development of an oral small molecule for the treatment of thyroid eye disease (TED), announced the official launch of the company with $35 in Series A funding. million led by The Rise Fund of San Francisco’s TPG.

The U.S. Food and Drug Administration (FDA) has authorized an Investigational New Drug (IND) application for linsitinib for the treatment of ASD, and Sling Therapeutics is launching a Phase 2b clinical trial, which the funds will support. The company is also exploring other potential indications beyond PDD, including in rare and autoimmune diseases.

“We are launching Sling Therapeutics with a data-driven clinical development program with more than 800 patients who have received linsitinib in cancer clinical trials, allowing us to accelerate the development of linsitinib in PDD” , says Ryan Zeidan, President and CEO. CEO of Sling Therapeutics.

“Linsitinib will be the first oral IGF-1R inhibitor to enter late-stage clinical trials for PDD and we have the potential to provide patients with a convenient orally administered drug. We are pleased to have received IND clearance from the FDA and are initiating a phase 2b study. Our goal is to significantly reduce the burden of treatment on patients and the healthcare system compared to currently marketed products. »

PDD is a debilitating autoimmune disease that affects approximately 20,000 people in the United States per year and has a similar prevalence in Europe. The immune system mistakenly attacks muscle and fat tissue behind the eyes, causing inflammation and scar tissue to form.

The inflammation can push the eyes forward or cause the eyes and eyelids to become red and swollen. As the disease progresses, it can lead to pain, eye swelling, double vision, and a profound reduction in quality of life. PDD primarily affects women and most commonly affects people with hyperthyroidism due to Graves’ disease.

Linsitinib, which was licensed from Astellas Pharma to Sling Therapeutics, is designed to inhibit the insulin-like growth factor I receptor (IGF-1R). Dysfunction of the IGF-1R signaling pathway results in a prevalence of thyroid-stimulating hormone receptor autoantibodies (TSHR-Abs) that lead to excessive fibrous tissue growth in PDD. Independent data from a model of PDD in patient fibroblast cells suggests that linsitinib is at least as potent as currently available therapy.

Peter Bojo, Director of TPG Life Sciences Innovation, and Dr. Lucian Iancovici, Managing Director of TPG Life Sciences Innovation, will join the Board on behalf of The Rise Funds and work closely with management to launch the company.
Sling Therapeutics has assembled a leadership team that has extensive experience in drug development and operation:

Zeidan, President and CEO, was previously Director of Development at Millendo Therapeutics and held various positions at Celgene and Novartis where he led research and development activities for late-stage assets including rare diseases, oncology and vaccines.

Robin Schmidt, the COO, brings more than 25 years of experience in clinical trial strategy and execution at large pharmaceutical, biotechnology and CRO companies. She is the former Vice President of Clinical Operations at Millendo Therapeutics.

Catherine Radovich, Vice President of Clinical Operations, has over 25 years of experience running clinical trials and delivering data to large pharmaceutical, biotech, academic and CRO companies. She previously served as director of clinical operations at Millendo Therapeutics and is the former administrative program director for the Michigan Institute for Clinical and Health Research.

Ronald Dadino, CMC Vice President and Manufacturing, has more than 35 years of experience in the development, manufacturing and marketing of pharmaceutical products.

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The usurer Sattahip claims self-defense; did not kill a dog as the debtors accuse https://flight93.org/the-usurer-sattahip-claims-self-defense-did-not-kill-a-dog-as-the-debtors-accuse/ Sun, 19 Jun 2022 03:58:47 +0000 https://flight93.org/the-usurer-sattahip-claims-self-defense-did-not-kill-a-dog-as-the-debtors-accuse/ Supaporn Intiphan mourns the loss of her beloved pit bull who was killed by a loan shark in cold blood while her husband digs a grave to bury their 3-year-old pet. A suspected loan shark is claiming innocence and self-defense after a Sattahip family shouted to the media that they had been attacked and their […]]]>
Supaporn Intiphan mourns the loss of her beloved pit bull who was killed by a loan shark in cold blood while her husband digs a grave to bury their 3-year-old pet.

A suspected loan shark is claiming innocence and self-defense after a Sattahip family shouted to the media that they had been attacked and their dog had been killed.

Chaowalit Benjamas, 35, turned himself in to Plutaluang police on Friday to refute claims by Supaporn Intiphan, 36, Watchara Wongruk, 39, and Nattapon Intiphan, 20, that they were physically assaulted in their home of Plutaluang on June 15 for non-payment of a loan of 80,000 baht and 40,000 baht in interest.

Admitting to loaning the family money at 5% interest a day two months ago and then repossessing their two motorbikes when payment had not been made, Chaowalit said he did not went to their house only to ‘speak nicely’ about the outstanding debt of 80,000-90,000. Instead, one of the family members stabbed him and then lied saying he was trying to collect 120,000 baht.

Chaowalit showed police a stab wound to his left side that required 11 stitches as evidence. He also claimed to have video of the home visit, proving that no threats were made and that he did not kill the family pit bull as they claimed.

Watchara and Supaporn gently lower their beloved pit bull into a grave after their 3-year-old pet is stabbed to death by a cruel loan shark.

During their meeting with local media, Supapon said that she had borrowed the money two months ago but due to further financial problems she was unable to pay. Chaowalit then took their motorcycles, preventing the couple from going to work. Supaporn said a new loan agreement dated June 10 provided for daily payments of 300 baht in interest and 10,000 baht in principal per month without foreclosure.


The couple then went to the police to complain and ask for help in recovering their motorbikes.

On Wednesday, according to Supaporn, Chaowalit and his girlfriend called the three family members outside and attacked them. Neighbors sent them to Queen Sirikit Naval Medical Center.

Supaporn said Watchara had a blood clot in her brain and needed surgery, while her 20-year-old son needed eight stitches in his face.

During the melee, the woman claimed Chaowalit stabbed her 3-year-old pit bull Choky in the neck. She then buried him in the foothills of Plutaluang. Chaowalit denied killing the dog.


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Deferred Interest/Promote in 2022: Action Items for Investing, Private Equity and Real Estate Fund Managers | Jackson Lewis CP https://flight93.org/deferred-interest-promote-in-2022-action-items-for-investing-private-equity-and-real-estate-fund-managers-jackson-lewis-cp/ Fri, 17 Jun 2022 17:22:54 +0000 https://flight93.org/deferred-interest-promote-in-2022-action-items-for-investing-private-equity-and-real-estate-fund-managers-jackson-lewis-cp/ Managers of investment funds, private equity and real estate should consider familiarizing themselves with the complex final regulations on the preferential tax treatment of “carried interest” under Section 1061 of the Internal Revenue Code (Code) which are generally effective for taxation years beginning on or after January 1, 2022. Preferential treatment of carried interest Frequently […]]]>

Managers of investment funds, private equity and real estate should consider familiarizing themselves with the complex final regulations on the preferential tax treatment of “carried interest” under Section 1061 of the Internal Revenue Code (Code) which are generally effective for taxation years beginning on or after January 1, 2022.

Preferential treatment of carried interest

Frequently referred to as a “promote” in the real estate investment trust industry, a “deferred interest” is a profit interest in an investment-oriented partnership or limited liability company taxed as a partnership for the purposes of federal income tax (each, an “Investment Pass-Through Entity”) held by the manager providing investment management services to such entity for a fee (fund manager) (for example, the general partner of the general partnership or the managing partner of the limited liability company).

For the fund manager, the main benefit of a deferred interest/promotion is the preferential federal tax treatment on distributions from the investment transfer entity: if the assets of the investment transfer entity are held for the required holding period (currently, more than three years; prior to 2018, more than one year), the gains from the sale of these assets are transferred to the fund manager — and, by extension, to the fund manager’s employees. funds directly or indirectly, through the Fund Manager, holding interests in the Investment Transfer Entity – as capital gains, rather than as gains subject to ordinary income tax. Accordingly, in return for providing investment management services to the Channeling Entity, the Fund Manager (and its employees with direct or indirect interests in the Channeling Entity) receive investment income, taxed at a capital gains rate of up to 23.8%, rather than compensation income, taxed at an ordinary tax rate of up to 37%.

Tax Cuts and Jobs Act

In 2017, Congress passed the Tax Cuts and Jobs Act (TCJA), which was signed into law by President Donald Trump. The TCJA attempted to curb the deemed preferential treatment of carried/promoted interest by requiring that assets held by the investment transfer entity be held for more than three years (instead of more than one year) in order to that capital gains are triggered by the sale of those assets (and passed on to the general partner or managing member, as the case may be) to benefit from the treatment of long-term capital gains.

Code Section 1061, the carried/promoting interest status added by the TCJA, only applies to an “applicable partnership interest” (API). The law generally defines an API as an interest in a partnership (including a limited liability corporation taxed as a partnership for federal income tax purposes) that qualifies as an “applicable trade or business” that directly or indirectly, is transferred to (or is held by) a taxpayer in connection with the provision of substantial services by the taxpayer.

An “applicable business or business”, in turn, generally means a business engaged, on a regular, continuous and substantial basis, in raising or repaying capital. and That is:

  1. Invest in (or dispose of) specified assets (or identify specified assets for such investment or disposal); Where
  2. Develop such assets.

Investment Transfer Entities will generally be considered applicable transactions or activities. Therefore, unless an exception applies, interests carried/promoted held by the fund manager (and its employees holding stakes therein) will generally qualify as API subject to the holding rule of more than three years (API holding rule).

Exceptions

The law provides for three exceptions. First, in certain circumstances, the API holding rule does not apply to income or gains attributable to any assets not held for portfolio investment purposes on behalf of third-party investors.

Second, an API does not include (therefore the API holding rule does not apply to) an interest in a partnership (or a limited liability company taxed as a partnership for the purposes of federal income tax) held directly or indirectly by a corporation.

Third, an API does not include certain capital interests.

Final settlement

In January 2021, the Treasury Department issued the final rule under Code Section 1061. This final rule (which followed the draft rule published in July 2020) clarified the requirements for applying the capital interest exception, required loans made by partners or members of the transfer entity. investment to employees seeking to purchase capital interest therein to bring personal responsibility for the employee (while prohibiting loans from the investment transfer entity itself), reduced “transparency” with respect to API sales, under which APIs held for more than three years could be subject to short-term capital gains treatment (generally ordinary tax rates would apply) and clarified the scope of the law with respect to transfers of APIs to related persons .

Action Items

The final settlement is complex. From the perspective of a fund manager seeking to incentivize its key employees/shareholders with respect to stakes/promotions and equity stakes in investment transfer entities, consideration should be given to taking the following measures in 2022:

  1. Determine if the investment transfer entities are applicable businesses or businesses. One cannot have an API unless the interest is held in an applicable trade or business. A key determination is whether Investment Transferring Entities are engaged in activities that would otherwise give rise to applicable business or commercial status on a “regular, continuous and substantial basis”.
  1. Inventory the sales history of assets held by investment transfer entities. If assets held by Investment Transfer Entities are typically held for more than three years (which is often the case in real estate development and investment), Code Section 1061 should not be applicable. such an important issue.
  1. Review partnership agreements and operating agreements in connection with the granting of equity investments. The Final Rule generally requires equity interests to receive allocations determined and calculated in the same manner as allocations for equity interests held by non-service partners and similarly situated members who have made equity contributions. important aggregates.
  1. Structuring Loans to Acquire Equity Investments Carefully. Few key employees will be satisfied with a loan from an associate or member with personal liability. (The requirement extends to loan guarantees.) In addition, loans from investment transfer entities themselves are prohibited. In applying these rules, certain concepts of “related person” apply.
  1. Review the holding period of API sales held over three years. The Final Rule recategorizes the holding period to three years or less if: (1) the holding period does not include any period prior to when a partner or unrelated member not providing substantial services to the Transferring Entity Investment Transferee becomes legally obligated to contribute cash or property to the Transferring Entity; or (2) the sale of the API is part of a transaction or series of transactions the primary purpose of which is to avoid the application of Code Section 1061.

Deferred interest/promotional tax rules require careful planning and, almost always, expert legal analysis applying Code Section 1061 and the Final Rule to the particular facts. This analysis is perhaps even more important when dealing with general partnerships and limited liability companies.

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BODY & MIND INC. : Regulation FD Disclosure, Financial Statements and Supporting Documents (Form 8-K) https://flight93.org/body-mind-inc-regulation-fd-disclosure-financial-statements-and-supporting-documents-form-8-k/ Wed, 15 Jun 2022 21:13:12 +0000 https://flight93.org/body-mind-inc-regulation-fd-disclosure-financial-statements-and-supporting-documents-form-8-k/ Section 7.01 Disclosure of FD Regulations On June 15, 2022, body and mind inc. (the “Company” or “BaM”) has issued a press release to provide an update on the extension and amendments of its loan agreement (the “Loan Agreement”) entered into between the Company, DEP Nevada, Inc.a wholly-owned subsidiary of the Company, the guarantors as […]]]>

Section 7.01 Disclosure of FD Regulations

On June 15, 2022, body and mind inc. (the “Company” or “BaM”) has issued a press release to provide an update on the extension and amendments of its loan agreement (the “Loan Agreement”) entered into between the Company, DEP Nevada, Inc.a wholly-owned subsidiary of the Company, the guarantors as set out in the Loan Agreement, FG Agency Lending LLC (the “Agent”) and Bomind Holdings LLC
(the “Lender”), dated July 19, 2021as amended on November 30, 2021.

The Company entered into a second amendment to the Loan Agreement (“Amendment No. 2 to the Loan Agreement”) to extend the maturity date by one year until
July 19, 2026. In addition, rider no. 2 to the loan agreement allows the company to impose a deadline on the deferred draw term loan of $4.44 million be extended by June 1, 2022 at March 31, 2023by which $4 million
in funds will be advanced to the Company. The Company’s ability to draw on the Deferred Drawn Term Loan is subject to compliance with certain provisions of the Loan Agreement, including the provision of a satisfactory budget approved at the Lender’s sole discretion. Amendment No. 2 to the loan agreement increases the interest rate on funds advanced from 13% to 15% per annum, which additional interest of 2% may be paid in kind, with interest payable on the first day of each month. Amendment No. 2 to the loan agreement provides for an exit fee equal to 1.5% of the principal balance, which is due and payable upon any payment, partial or total, of the initial term loan and the loan deferred draw term.

In partial consideration for Amendment No. 2 to the Loan Agreement, the Company issued 1,000,000 common stock purchase warrants (each, a “Warrant”) to the Lender. Each Warrant entitles its holder to purchase Common Shares (each, a “Warrant Share”) at an exercise price of $0.16 per Warrant Share up to June 14, 2027.

Amendment No. 2 to the Loan Agreement contains additional features and requirements and the material terms will be described in a current report on Form 8-K to be filed by the Company on or about June 17, 2022.

“The extension of our current lending facility aligns with our development program and provides flexibility for future opportunities,” said Michael MillsCEO of body and mind. “As we continue with our expansion plans, this opportunity to modify the loan facility provides the company with the ability to pursue opportunities.”

A copy of the press release is attached as Exhibit 99.1 hereto.




2

Item 9.01 Financial statements and supporting documents




(d) Exhibits



Exhibit    Description
  99.1       News Release dated June 15, 2022.
  104      Cover Page Interactive Data File (the cover page XBRL tags are embedded
           within the inline XBRL document)





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© Edgar Online, source Previews

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Acquisition of Blue Safari Group – GuruFocus.com https://flight93.org/acquisition-of-blue-safari-group-gurufocus-com/ Sat, 11 Jun 2022 23:25:45 +0000 https://flight93.org/acquisition-of-blue-safari-group-gurufocus-com/ HONG KONG, June 1, 2022 /PRNewswire/ — Blue Safari Group Acquisition Corp. (NASDAQ: BSGA, the “Company”), a special purpose acquisition company, today announced that it has deposited into the Company’s trust account (the “Trust Account”) a total of $575,000 (representing $0.10 per Class A common share), to extend the period available to the Company to […]]]>

HONG KONG, June 1, 2022 /PRNewswire/ — Blue Safari Group Acquisition Corp. (NASDAQ: BSGA, the “Company”), a special purpose acquisition company, today announced that it has deposited into the Company’s trust account (the “Trust Account”) a total of $575,000 (representing $0.10 per Class A common share), to extend the period available to the Company to effect a business combination (the “Combination Period”) for an additional period of three (3) months, with the applicable deadline (the ” applicable time) extended by June 14, 2022 at September 14, 2022. As previously indicated, pursuant to the First Amendment of the Amended and Restated Agreement and Plan of Merger dated May 30, 2022 by and between the Company, Bitdeer Technologies Holding Company (“Bitdeer”) and the other parties named therein, Bitdeer has agreed to lend to the Company an aggregate principal amount of $1.99 million in two tranches to fund all amounts necessary to extend the combination period up to two (2) times for an additional period of three (3) months each time. The loan bears no interest and is repayable only upon closing of a business combination by the Company. On June 1, 2022the company used $575,000 the amount of the loan received to extend the Applicable Time September 14, 2022.

About Blue Safari Group Acquisition Corp.

Blue Safari Group Acquisition Corp. is a British Virgin Islands corporation incorporated as a blank check for the purpose of entering into a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more companies or entities.

Forward-looking statements

This press release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. These forward-looking statements, including the successful completion of the Company’s IPO, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances about which any statement is based.

View original content: https://www.prnewswire.com/news-releases/blue-safari-group-acquisition-corp-announces-contribution-to-trust-account-to-extend-period-to-consummate-business – combination-301559476.html

SOURCE Blue Safari Group Acquisition Corp

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Legal notice of June 10, 2022 https://flight93.org/legal-notice-of-june-10-2022/ Fri, 10 Jun 2022 09:24:22 +0000 https://flight93.org/legal-notice-of-june-10-2022/ US EPA UIC Permit Action Public Notice Announcement: U.S. Environmental Protection Agency Region 8 intends to issue action related to Underground Injection Control Permit (UIC), under the authority of the Safe Drinking Water Act and UIC program regulations. A decision to issue a permit would authorize Dan-o’s Car Wash to inject liquid, not to exceed […]]]>

US EPA UIC Permit Action Public Notice Announcement: U.S. Environmental Protection Agency Region 8 intends to issue action related to Underground Injection Control Permit (UIC), under the authority of the Safe Drinking Water Act and UIC program regulations. A decision to issue a permit would authorize Dan-o’s Car Wash to inject liquid, not to exceed 2,500 (two thousand five hundred) gallons per day, limited to the overflow of gray water from the car wash into a Class V well. The address of the facility is 31544 US-2, Libby, Montana 59923. EPA will post a public notice of this proposed action and seek comment on its website at www.epa.gov/uic/underground -injection-control-epa-region-8-co-mt-nd-sd-ut-and-wy, for a minimum of 30 days. Notification of any extension of the public comment period will appear at the web address only and will not appear in this log. Alternatively, the public may contact Omar Sierra-Lopez by email at Sierra-Lopez.Omar@epa.gov or by phone at (800) 227-8917, extension 312-7045 or (303) 312-7045, for information. information on the proposed action or to add to the notification list for any extension of the public comment period and any final decision by the EPA. Published in The Western News on June 10, 2022. MNAXLP

NOTICE OF TRUSTEE SALE For cash sale at a Trustee Sale on October 11, 2022 at 2:00 p.m. outside the steps of the North Gate of the Lincoln County Courthouse located at 512 California Avenue, Libby, MT 59923, the property described below located in Lincoln County, State of Montana: Lot 1 of Leo Orsborn Lots, part of SE1/4SE1/4NE1/4 of Sec. 9, Twp.30N.,R.31W., PMM, described on Plat No. 1282 on the office of the Clerk and Recorder of Lincoln County, Montana. More commonly known as 160 Cedar Street Ext, Libby, MT 59923. Dan Duff also known as Daniel B. Duff and Millie L. Duff, as licensors, conveyed said real estate to Title Source, Inc. ., as trustee, to secure an obligation owed to Mortgage Electronic Registration Systems, Inc., as appointed agent for Quicken Loans Inc., beneficiary of the collateral instrument, its successors and assigns, by indenture dated November 22, 2013, and filed for recording in the records of the County Clerk and Recorder in the County of Lincoln, State of Montana, on December 5, 2013 under Instrument Number 248781, in Book 351, at page 73 , official documents. The Indenture has been assigned for value as follows: Assignee: Quicken Loans, LLC Assignment dated: May 20, 2020 Registered Assignment: June 15, 2020 Assignment Registration Information: as Instrument No. 285886, in book 382, ​​page 843 the records of the Clerk and Recorder of Lincoln County, Montana. Jason J. Henderson is the successor administrator pursuant to a substitution of administrator registered in the office of the Clerk and Recorder of the County of Lincoln, State of Montana, on May 23, 2022, under Instrument Number 300869, in Book 396, at page 995, of the Official Records. The Beneficiary has declared a default in the terms of said Trust Deed due to the Settlor(s) failure to make monthly payments commencing February 1, 2020 and each month thereafter, which monthly payments would have been applied against Principal and interest due on said bond and other charges on the property or loan. By reason of said default, the Beneficiary declared immediately due and payable all sums due on the obligation guaranteed by said Deed of Trust. The total amount due on this bond is principal of $94,645.76, interest in the amount of $10,351.80, escrow advances of $4,748.69, other amounts due and payable in the amount of $763.12 for a total amount due of $110,509.37, plus accrued interest, late fees, and other fees and costs that may be incurred or advanced. The Beneficiary anticipates and may disburse such amounts as may be necessary to preserve and protect the property and for property taxes which may become due or past due, unless such tax amounts are paid by the Grantor. If such amounts are paid by the Beneficiary, the amounts or taxes will be added to the obligations guaranteed by the Deed of Trust. Other expenses to be charged against the proceeds of such sale include trustee and attorney fees, costs and expenses of the sale and late fees, if any. The Beneficiary has elected and directed the Trustee to sell the property described above to satisfy the obligation. The sale is a public sale and anyone, including the Beneficiary, with the sole exception of the Trustee, can bid at the sale. The auction price must be paid immediately after the auction closes in cash or near cash (valid money orders, certified checks or cashier’s checks). Transfer will be made by deed of trust, without any representations or warranties, including warranty of title, express or implied, as the sale is made strictly on an as is basis, without limitation, the sale is subject to all existing conditions. , if any, lead paint, mold, or other environmental or health hazards. The buyer-seller takes possession of the property on the 10th day following the sale. The grantor, successor in title to the grantor, or any other person having an interest in the property, is entitled, at any time before the sale by the trustee, to pay to the beneficiary, or the successor in title to the beneficiary, the the full amount then due under the indenture and the obligation secured thereunder (including costs and expenses actually incurred and attorneys’ fees) other than that part of the principal not then due in the absence of default and in remedying any other default which is the subject of the complaint herein which is capable of being cured by offering the performance required under the obligation or to remedy the default, by paying all the costs and expenses actually incurred in enforcing the obligation and the trust indenture together with the successor trustee’s fees and attorney’s fees. In the event that all defects are corrected, the foreclosure will be rejected and the foreclosure sale will be cancelled. The scheduled trustee sale may be postponed by public proclamation for up to 15 days for any reason. In the event of a bankruptcy filing, the sale may be deferred by the trustee for up to 120 days by public proclamation at least every 30 days. If the Trustee is unable to pass title for any reason, the winning bidder’s sole and exclusive remedy shall be reimbursement of monies paid to the successor trustee and the winning bidder shall have no further recourse. . This is an attempt to collect a debt and any information obtained will be used for this purpose. Dated May 27, 2022 c/o Jason J. Henderson Substitute Trustee 38 2nd Avenue East, Dickinson, ND 58601 801-355-2886 Monday through Friday, 8:00 a.m. to 5:00 p.m. (MST) File No. MT11515 Published in The Western News June 10, 17 and 24, 2022. MNAXLP

C. Mark Hash Hash, O’Brien, Biby & Murray, PLLP Lawyers 136 1st Ave. West PO Box 1178 Kalispell, MT 59903-1178 (406) 755-6919 cmhash@hashlaw.com Attorneys Personal Representative MONTANA NINETEENTH JUDICIAL DISTRICT COURT, LINCOLN COUNTY IN RE THE ESTATE OF DAVID A. STRAND Deceased Cause No. DP-22 -71 NOTICE TO CREDITORS NOTICE IS HEREBY GIVEN that the undersigned has been appointed personal representative of the aforesaid estate. All persons with claims against the said deceased are required to present their claims within four months from the date of the first publication of this notice, failing which the said claims will be forever barred. Complaints should be sent to Peggy S. Strand, the Personal Representative, by certified mail, return receipt requested, c/o Hash, O’Brien, Biby & Murray, PLLP, Attorneys at Law, PO Box 1178, Kalispell, Montana 59903 -1178, or filed with the Registry of the aforementioned Court. DATED June 2, 2022 s/ Peggy S. Strand Personal Representative Hash, O’Brien, Biby & Murray, PLLP By s/ C Mark Hash Published in The Western News June 10, 17 and 24, 2022. MNAXLP

Kelly R. O’Brien MEASURE LAW, PC 128 2nd Street East PO Box 918 Kalispell, Montana 59903 Telephone: (406) 752-6373 Fax: (406) 752-7168 Solicitors for the Estate of Daniel M. Ooley MONTANA ELEVENTH COURT OF JUDICIAL DISTRICT, COUNTY OF LINCOLN IN THE MATTER OF THE ESTATE OF DANIEL M. OOLEY, deceased No. DP-22-68 NOTICE TO CREDITORS Hon. Matthew J. Cuffe, Judge________________________ NOTICE IS HEREBY GIVEN that STEPHANIE SOLIS has been appointed personal representative of the above-named estate and the address of the personal representative is set forth below. All persons or creditors having claims against the deceased are required to present their claims within four (4) months following the date of the first publication of this notice, failing which the said claims will be forever barred. A written statement of the claim stating its basis, the plaintiff’s name and address, and the amount claimed, may be filed with the Clerk of the District Court, Libby, Lincoln County, Montana, and mailed, acknowledgment requested, to Personal Representative, Stephanie Solis, c/o Measure Law, PC, Attorneys for the Estate of Daniel M. Ooley, PO Box 918, Kalispell, MT 59903. DATED: May 19, 2022 /s/ STEPHANIE SOLIS Representative personal Estate of Daniel M. Ooley, deceased. MEASURE LAW, PC By: /s/ Kelly R. O’Brien Attorneys for the Estate of Daniel M. Ooley Published in The Western News May 27, June 3 and June 10, 2022. MNAXLP

Public Notice DEPARTMENT OF NATURAL RESOURCES AND CONSERVATION TIMBER SALE The Department of Natural Resources and Conservation, Libby Unit is offering timber harvesting on approximately 165 acres of Crown-owned land located at T31N, R29W, Sec. 12 in the Cripple Horse Creek watershed. A brief description of the proposed action is presented below. Preliminary estimates indicate that approximately 1 to 1.5 million board feet of timber would be harvested. Approximately 1 mile of new road construction, approximately 0.6 mile of road reconstruction and approximately 1.6 mile of road maintenance would be required to access the timber. Ground tractor logging systems would be used on almost all acres. Proposed silvicultural treatments would include shelterwood, seed trees and/or commercial thinning. Follow-up treatments could include machine piling and scarifying, slash burning, noxious weed spraying, hand planting of tree seedlings and pre-commercial thinning. Road construction and harvesting activities could begin in 2023. This timber sale is part of a state forest land management program to generate revenue to support the Capital Buildings Trust. The Department is seeking public input on the proposal to harvest timber from this parcel. Interested persons should direct written comments to: Montana Department of Natural Resources and Conservation, Attention: Dave Marsh, 177 State Lands Office Road, Libby, MT 59923, or E-mail: dmarsh@mt.gov. You can call: (406) 283-3535. Comments must be received by 5:00 p.m. June 13, 2022. Published in The Western News May 13, 20, 27, June 3 and 10, 2022. MNAXLP

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KBRA Assigns Preliminary Ratings to Velocity Commercial Capital 2022-3 (VCC 2022-3) https://flight93.org/kbra-assigns-preliminary-ratings-to-velocity-commercial-capital-2022-3-vcc-2022-3/ Wed, 08 Jun 2022 09:33:00 +0000 https://flight93.org/kbra-assigns-preliminary-ratings-to-velocity-commercial-capital-2022-3-vcc-2022-3/ NEW YORK–(BUSINESS WIRE)–KBRA assigns preliminary ratings to 12 categories of Velocity Commercial Capital 2022-3 (VCC 2022-3) mortgage-backed certificates. VCC 2022-3 is a $315.2 million securitization secured by 682 low balance commercial loans secured by 781 residential rental or commercial real estate (CRE) properties. The pool is made up of 569 fixed rate mortgages (90.9% of […]]]>

NEW YORK–(BUSINESS WIRE)–KBRA assigns preliminary ratings to 12 categories of Velocity Commercial Capital 2022-3 (VCC 2022-3) mortgage-backed certificates.

VCC 2022-3 is a $315.2 million securitization secured by 682 low balance commercial loans secured by 781 residential rental or commercial real estate (CRE) properties. The pool is made up of 569 fixed rate mortgages (90.9% of the total pool) and 113 adjustable rate mortgages (9.9%). The loans have an average outstanding principal balance of $462,224, which ranges from $27,023 (0.0%) to $3.8 million (1.2%). The valuation weighted average loan-to-value (LTV) ratio and FICO score for the pool are 63.3% and 729, respectively.

The underlying properties are located in or near 127 Central Statistical Areas (CBSAs) in 37 states. The top three CBSAs represent 41.6% of the portfolio and include New York-Newark-Jersey City, NY-NJ (23.9%), Los Angeles-Long Beach-Anaheim, CA (11.4%) and Miami-Fort Lauderdale-West. Palm Beach, Florida (6.3%). The three largest state exposures represent 58.8% of the portfolio and consist of California (25.7%), New York (19.0%) and Florida (14.1%).

KBRA relied on its RMBS and CMBS methodologies to analyze the transaction. In doing so, KBRA divided the pool into two separate loan groups as follows: Sub-pool 1 (384 loans, 43.7% of the total pool balance) consists of loans to investors secured by residential rental properties of four units or less. Sub-pool 2 (298 loans, 56.3%) consists of commercial real estate assets. This sub-pool is largely made up of multi-family buildings (56 assets, 14.2% of the Total), mixed-use buildings (78 assets, 13.3%), businesses with five or more units (63 assets, 13.2%), industrial (25 assets, 5.9%), offices (36 assets, 4.6%), automotive service properties (20 assets, 3.1%) and commercial co-ownership (20 assets, 2.1%). KBRA reclassified mixed-use and commercial property types into condominium based on each asset’s respective primary use, and automotive service properties into retail for our analysis.

The results of the RMBS and CMBS portfolio credit models were combined, on a WA basis, to determine KBRA’s modeled expected losses in each rating category and reflect the quality of collateral, due diligence and quality of information against to typical RMBS and CMBS transactions. The losses were then incorporated into our cash flow modeling, which was used to assess the transaction’s credit enhancement levels in the context of its modified pro rata structure.

Click here to see the report. To access relevant notes and documents, click here.

Related Publications

Disclosures

Further information on key credit considerations, sensitivity analyzes that consider factors that may affect these credit ratings and how they could lead to an upgrade or downgrade, and ESG factors (where they are a key factor in changing the credit rating or rating outlook) can be viewed in the full rating report mentioned above.

A description of all substantially significant sources that were used to prepare the credit rating and information on the methodology(ies) (including all significant models and sensitivity analyzes of key relevant rating assumptions, if any) used to determine the credit rating are available. in the information disclosure form(s) located here.

Information on the meaning of each rating category can be found here.

Additional information relating to this rating metric is available in the information disclosure form(s) referenced above. Additional information regarding KBRA’s policies, methodologies, grading scales and disclosures is available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the United States Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a rating agency with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a rating agency with the UK Financial Conduct Authority under the temporary registration scheme. In addition, KBRA is designated as the Designated Rating Agency by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a credit rating provider.

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Why Crypto Term Deposits Are Riskier Despite Yields https://flight93.org/why-crypto-term-deposits-are-riskier-despite-yields/ Mon, 06 Jun 2022 16:52:47 +0000 https://flight93.org/why-crypto-term-deposits-are-riskier-despite-yields/ The crypto industry offers products that mimic the offerings of traditional asset classes. So far, crypto exchanges offer Systematic Investment Plans (SIPs) and baskets of crypto tokens, just like mutual funds. Then there is the “crypto deposit”, presented as similar to a fixed bank deposit. As these products are not regulated, their characteristics and their […]]]>

The crypto industry offers products that mimic the offerings of traditional asset classes. So far, crypto exchanges offer Systematic Investment Plans (SIPs) and baskets of crypto tokens, just like mutual funds. Then there is the “crypto deposit”, presented as similar to a fixed bank deposit. As these products are not regulated, their characteristics and their interests differ enormously from one exchange to another.

Generally, under the “locked” option of crypto deposits, clients have to pledge their crypto assets for a stipulated term, which can be 7, 30, 60, 90 days, etc. They will get a fixed return at a pre-determined interest rate for the chosen term. The interest payment, which can be as low as 1% per annum or as high as 24%, varies depending on the type of crypto asset and the exchange. Interest earned is credited to the portfolio at the end of the term. However, clients will lose any interest earned if they decide to withdraw the asset before the lock-up period expires.

Usually, “blue-chip” cryptos such as bitcoin, ethereum, and cardano earn a lower interest rate, while smaller tokens earn more.

CoinDCX recently launched its earning program, “Earn”, where customers can earn interest on their dormant crypto assets. The exchange deploys the assets through multiple yield-generating opportunities such as margin trading, lending or staking to generate returns.

Keep in mind that unlike bank fixed deposits, in the crypto “deposit” feature, the value of the principal amount can change depending on the price of the token. However, some platforms also offer a principal amount lock.

Bharat Vivek, co-founder and COO of Kassio, a global crypto asset management platform, said, “In the Kassio earning program, if you invest in crypto fixed deposits, your initial principal amount will remain the same. (in rupees) for the duration of the fixed deposit.”

The platforms also claim to have introduced security features such as cold wallet storage and insurance up to a certain level to keep investors’ assets safe.

“Deposits are managed through the hot and cold wallet balance – 99% of funds are stored in the cold wallet, which is powered by the best custody solution to reduce exposure to any potential security risk,” Vivek said. .

A key difference between bank FDs and crypto FDs is government security. In accordance with the Law on the Deposit Insurance and Credit Guarantee Company (DICGC), each depositor of a bank is insured up to a maximum of 5 lakh for principal and amount of interest held. However, no such collateral is available for a crypto deposit.

Financial advisors have warned against using these investment instruments as they are usually not a fixed deposit but a loan product. Moreover, there is no clarity on the current crypto regulations in India, which makes the legal status of these deposits questionable. “Investing in cryptocurrency is a big risk as it is still unregulated in India. Also, as an investor, you don’t know where your funds are lent to. Investors should understand that this is not akin to a fixed deposit,” said Mrin Agarwal, Founding Director of Finsafe India Pvt Ltd.

Investors should also note the tax angle when it comes to crypto “fixed deposits”. “Currently, the law has not solved all these problems. But it is clear that the resulting income would be taxable. So, if you have income, which is in the nature of interest, you must include it under “income from other sources” and pay tax on it according to the slab rate. This is assuming the investor hasn’t exited the crypto, because the moment you transfer the crypto, the 30% tax rate would kick in,” said Archit Gupta, Founder and CEO of Clear.

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