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Elbit Systems Announces a Postponement of its Extraordinary General Meeting of Shareholders

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HAIFA, Israel, April 17, 2024 /PRNewswire/ — Elbit Systems (NASDAQ:) Ltd. (NASDAQ: ESLT) and (TASE: ESLT) (“Elbit Systems” or the “Company”) announced today that its Extraordinary General Meeting of Shareholders (the “Meeting”), which was postponed to Thursday, April 18, 2024, from its originally scheduled date of Tuesday, April 9, 2024, has been further postponed in order to allow the Company time to consider additional comments received from the market with respect to the items on the Meeting agenda. The date and time of the postponed Meeting will be published by the Company in due course, and a revised notice and proxy statement for such Meeting will be filed and made available to shareholders in accordance with applicable law.

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

For additional information, visit: https://elbitsystems.com, follow us on Twitter or visit our official Facebook (NASDAQ:), Youtube and LinkedIn Channels.

Company Contact:

Dr. Yaacov (Kobi) Kagan, ExecutiveVP – CFO
Tel: +972-77-2946663
kobi.kagan@elbitsystems.com

Dr. David Ravia, Investor Relations
Tel: +972-77-2947169
david.ravia@elbitsystems.com

Dalia Bodinger, VP, Communication & Brand
Tel: 972-77-2947602
dalia.bodinger@elbitsystems.com

This press release may contain forward“looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management’s current expectations, estimates, projections and assumptions about future events. Forward“looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company’s future financial results, its anticipated growth strategies and anticipated trends in its business. Therefore, actual future results, performance and trends may differ materially from these forward“looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.’s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward“looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies. All other brand, product, service and process names appearing are the trademarks of their respective holders. Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

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US stocks slightly lower after Christmas holiday

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Investing.com– U.S. stocks were slightly lower on Thursday, though trading volumes were thin a day after the Christmas holiday.  

At of 12:58 ET (17:58 GMT), the  fell 0.10%, the was down 0.1%, while the declined 0.01% or 6 points.

Jobless claims in U.S. dip to one-month low

The weekly U.S. jobless claims data released before the market opened on Thursday and saw a one-month low dip. 

The Labor Department reported a decrease of 1,000 in initial applications for state unemployment benefits, bringing the seasonally adjusted figure to 219,000 for the week that ended on December 21. This figure is lower than the 224,000 claims that economists had predicted for the same week.

Meanwhile, the number of individuals receiving benefits after their first week of aid, which serves as an indication of hiring, increased by 46,000. This brought the seasonally adjusted total to 1.910 million for the week that ended on December 14, the highest since November 2021. Economists had previously anticipated the number of these continued claims to be 1.880 million. 

“We do not think that this week’s data will move the needle for any of them, but more prints in line with the tone of this week’s data may motivate the doves on the Committee to speak up,” Jefferies said in a recent note.

Tech stocks flat despite Apple upgrade   

The major tech giants were mostly down after the markets opened, with Apple marginally higher despite an upgrade from tech-bull Wedbush. 

Apple Inc (NASDAQ:) gained 0.2% affter Wedbush raised its price target on Apple to $325 from $300 banking on transformative AI-driven iPhone upgrade cycle poised to fuel growth into 2025. 

“We believe Apple is heading into a multi-year AI driven iPhone upgrade cycle that is still being underestimated by the Street,” Wedbush said in a recent note.

Crypto-related stocks slip as bitcoin skids, but KULR Technology surges on BTC purchase 

Crypto-related stocks including MicroStrategy Incorporated (NASDAQ:), Coinbase Global Inc (NASDAQ:), and Riot Platforms (NASDAQ:) followed bitcoin lower as the most valuable cryptocurrency fell more than 2%. 

KULR Technology jumped 30% after the space technology company bought about 217 bitcoin and detailed plans to allocate up to 90% of its excess cash to bitcoin.

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Lichen China Limited announces $2.8 million share sale

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XIAMEN, China – Lichen China Limited (NASDAQ:LICN), a company specializing in financial and taxation services, has announced a definitive agreement with several investors for a registered direct offering. The offering involves the sale of 20 million Class A ordinary shares, or pre-funded warrants as an alternative, at a price of $0.14 per share. This transaction is expected to yield approximately $2.8 million in gross proceeds for the company. The offering comes as the company maintains strong financial fundamentals, with InvestingPro data showing an impressive gross profit margin of 61% and a healthy current ratio of 17.55x.

The closing of the sale is anticipated on or about December 27, 2024, pending the fulfillment of customary conditions. Univest Securities, LLC is the sole placement agent for the offering, which is being conducted under an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on March 1, 2024.

Investors can access the final prospectus supplement and accompanying prospectus, detailing the offering’s terms, on the SEC’s website once filed. The offering is only valid in jurisdictions where it is lawful, and the securities cannot be sold in any jurisdiction where such an offer, solicitation, or sale would be illegal prior to registration or qualification under the applicable securities laws.

Lichen China, with over 18 years of experience, has established a reputation for providing professional and high-quality financial and taxation solutions in China. The company also offers education support services and software and maintenance services under the “Lichen” brand. Despite the stock’s significant decline of 89% year-to-date, InvestingPro analysis indicates the company is currently undervalued, with robust revenue growth of 25% in the last twelve months. Get access to 16 additional ProTips and comprehensive financial analysis with an InvestingPro subscription.

The company’s press release contains forward-looking statements that involve risks and uncertainties. While Lichen China believes the expectations reflected in these statements are reasonable, they caution that actual results may differ materially. Trading at a P/E ratio of 6.4x and with a market capitalization of $8.17 million, investors are encouraged to review factors that may affect the company’s future results in its registration statement and other SEC filings.

This news article is based on a press release statement from Lichen China Limited.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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2024 Year-End NAIC Designations  for STACR REMIC Trust, STACR Trust, and STACR Debt Notes

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MCLEAN, Va., Dec. 26, 2024 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: OTC:) today published on its website the National Association of Insurance Commissioners (NAIC) 2024 filing year designations for certain STACR REMIC Trust, STACR Trust, and STACR Debt Notes (collectively, STACR Notes).

Overall, of the 209 reviewed STACR Notes, all have achieved NAIC 1 Designation including all A1, M1 and M2 Notes offered through 2024 STACR transactions. In addition, 10 of the 2024 NAIC 1 Designations are upgrades from their 2023 NAIC 2 Designations. The below table details the upgrades:

CUSIPDeal Name2023 Year-End NAIC Designation2023 Year-End NAIC Designation Modifier2024 Year-End NAIC Designation2024 Year-End NAIC Designation Modifier
35564KB57STACR 2022-HQA2 M2B2B1E
35564KB65STACR 2022-HQA2 M22A1D
35564KE62STACR 2022-HQA3 M2B2C1F
35564KE70STACR 2022-HQA3 M22B1E
35564KP60STACR 2023-DNA1 M2B2C1E
35564KP94STACR 2023-DNA1 M22A1E
35564KT82STACR 2023-DNA2 M2B2C1E
35564KU31STACR 2023-DNA2 M22A1E
35564KY29STACR 2023-HQA1 M2B2B1E
35564KY37STACR 2023-HQA1 M22A1E

About Freddie Mac Single-Family Credit Risk Transfer

Freddie Mac’s Investment & Capital Markets Credit Risk Transfer (CRT) programs transfer credit risk away from U.S. taxpayers to global private capital via securities and (re)insurance policies, providing stability, liquidity and affordability to the U.S. housing market. The GSE Single-Family CRT market was founded when Freddie Mac issued the first STACR ® (Structured Agency Credit Risk) notes in July 2013. In November 2013, ACIS ® (Agency Credit Insurance Structure ®) was introduced. Today, the industry-leading and award-winning programs attract institutional investors and (re)insurance companies worldwide. For specific STACR and ACIS transaction data, visit Clarity Data Intelligence ®.

About Freddie Mac
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | LinkedIn | Facebook| X | Instagram | YouTube

MEDIA CONTACT:
Fred Solomon
703-903-3861
Frederick_Solomon@FreddieMac.com

INVESTOR CONTACT:
Christian Valencia
571-382-4236

Source: Freddie Mac

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