Advent Technologies Holdings, Inc. (ADN)
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Exclusive: Advent's $1 billion deal talks for Whirlpool India stake collapse, sources say
Global private equity firm Advent International's talks to acquire U.S. giant Whirlpool's India unit for up to $1 billion have collapsed due to disagreements over valuation, four people familiar with the matter told Reuters.
After Market: ASX companies turn to OTC Markets
In this episode of our Proactive Podcast, After Market, OTC Markets Group executive vice president Jason Paltrowitz joins us to discuss how international companies—especially those listed on the Australian Securities Exchange (ASX)—can efficiently expand their reach to United States investors through secondary trading on OTC Markets. Paltrowitz joined us last week to explain the challenges US investors face when trying to access equities listed on overseas exchanges such as the ASX, London Stock Exchange, or Euronext Paris. Paltrowitz outlined how OTC Markets bridges this gap by allowing companies to make their shares available in US dollars during US trading hours, through regulated trading platforms. The episode also explores OTC Markets’ tiered structure, with a focus on OTCQX—the “best market”—and OTCQB, the “venture market,” tailored for growth-stage companies. Over 80 ASX-listed companies are already leveraging these platforms. Paltrowitz introduces the “List Local, Trade Global” strategy, enabling firms to maintain their primary listings at home while gaining exposure to US liquidity—without the added burden of full US regulatory compliance such as SEC filing or Sarbanes-Oxley. The conversation concludes with a look at rising US investor interest in international equities—Asian and European trading volumes have surged—and previews upcoming innovations like overnight trading and the OTCID platform aimed at enhancing market access and transparency. Andromeda Metals Ltd (ASX:ADN, OTC:ANDMF)has received credit approval for a A$75 million debt facility from Merricks Capital to advance the development of its Great White Project in South Australia. The facility includes principal, interest, fees, reserves, and a cost overrun tranche and represents a key step toward finalising the Stage 1A+ development. Negotiations for binding financing documentation are now underway, with completion subject to standard conditions precedent including securing the balance of required funding. “Receiving confirmation from Merricks Capital that the proposed facility is credit approved, following extensive due diligence, represents a significant milestone in the financing of Stage 1A+ of the Great White Project,” acting chief executive officer Sarah Clarke said. “This outcome is a strong endorsement of the project’s quality and a testament to the team’s dedication, expertise and commitment to delivering an investment ready project.” The A$75 million facility carries a tenor of 78 months from financial close. Amortisation will begin after a 12-month grace period post-development completion, concluding with a 50% bullet repayment at maturity. Interest is payable on drawn funds, with line fees applied to undrawn amounts. Security and covenant conditions are aligned with conventional debt arrangements of this nature, including cover ratios and minimum cash balances. Should financial close be achieved and shareholder approvals granted, Merricks Capital is expected to receive 400 million equity warrants. These will be priced at a 10% premium to the share price in the balance of development funding and expire upon final facility repayment. The credit approval follows detailed due diligence by Merricks Capital across the technical, financial, legal, market, environmental and social aspects of the Great White Project. Pareto Securities acted as financial adviser during the process. With this milestone reached, Andromeda is now focused on securing additional funding required for a final investment decision and financial close, while continuing due diligence with selected capital providers. In late May, Andromeda secured A$5 million through a placement to institutional and sophisticated investors, bolstering its pathway to a FID for the Great White Project. Shares were issued at A$0.013 each. Proceeds from the raise have gone towards early works on the Great White Project, finalising plant design, and covering key legal, technical and financial due diligence activities required for project financing. Funds will also contribute to a scoping study for a potential high-purity alumina (HPA) project and provide general working capital. Read more: Andromeda Metals completes $5 million placement, sharpens focus on Great White and HPA Following the placement, Andromeda held approximately A$9.5 million in cash, enabling continued progress toward FID. MST Access senior analyst Michael Bentley described the Great White Project as “largely de-risked”, noting that most long-lead items have been secured, key permits granted and offtake agreements signed. “Final project funding is the key catalyst for a material re-rating,” Bentley said. He values Andromeda at A$0.13 per share, compared to its current price of around A$0.011. “We also believe that a cornerstone investor may well pay a premium to the current share price to take a significant share of the company,” Bentley added.
Advent of ChatGPT: Boon/Bane to Cybersecurity ETFs?
ChatGPT has both positive and negative cybersecurity implications.
Advent, Apollo among potential bidders for Reckitt's homecare assets, Bloomberg News reports
Private equity groups Advent International and Apollo Global are among firms mulling a potential buyout of British consumer goods company Reckitt's homecare assets, Bloomberg News reported on Wednesday, citing people familiar with the matter.
PE firm Advent prepares takeover offer for UK's Tate & Lyle, FT reports
Private equity firm Advent International is preparing a takeover offer for UK-based food and beverage ingredients maker Tate & Lyle , the Financial Times reported on Wednesday, citing two people familiar with the discussions.
Advent Technologies Holdings, Inc. (ADN) Q4 2023 Earnings Call Transcript
Advent Technologies Holdings, Inc. (NASDAQ:ADN ) Q4 2023 Earnings Call Transcript August 20, 2024 9:00 AM ET Company Participants Vasilis Gregoriou - Chairman, CEO, and Acting CFO Operator Good morning, everyone. I will be your conference operator today.
Honeywell to acquire CAES Systems for about $2 billion from Advent International: WSJ
Honeywell International Inc. HON has agreed to a roughly $2 billion deal to acquire aerospace and defense company CAES Systems from private-equity firm Advent International, the Wall Street Journal reported Thursday, citing people familiar with the matter. The all-cash deal is expected to be announced on Thursday, the people said.
