STOCKS TELEGRAPH

Author: ST Staff

  • What Happened To Make NeuBase (NBSE) Stock Surge 10% After Hours?

    What Happened To Make NeuBase (NBSE) Stock Surge 10% After Hours?

    NeuBase Therapeutics Inc. (NBSE) closed Friday’s after-hours trading at $5.87, up 9.72%. NeuBase’s stock price finished last trading session up 5.31% at $5.35. A range of $4.96-$5.39 was observed for NBSE stock.

    NBSE stock traded 2.29 million shares, which was above its daily average of 0.34 million shares over 100 days. The NBSE’s shares have advanced by 15.55 percent in the last five days, while they have gained 2.6 percent in the last month. NBSE’s stock gained after the company offered an oncology program that demonstrated functional rescue.

    What was the NBSE program?

    In its mission to accelerate the genetic revolution, NeuBase is developing a new class of precision genetic medicines. These medicines will be able to change or increase gene function depending on the genetic defect. Targeted PATrOL therapies develop by NBSE combine genetic therapies with small molecules to effectively treat disorders at the DNA/RNA level and are highly targeted, therefore combining the advantages of small molecules with the broad organ distribution capabilities of genetic therapies. NBSE first focused on redefining medicine for patients suffering from debilitating neurological, neuromuscular, or oncologic conditions with what it calls specific genes that silence disease-causing mutations.

    Earlier this month, NeuBase announced new data and program updates regarding its genetic medicine development pipeline based on PATrOL technology.

    • NBSE was able to find ways to utilize the PATrOL platform to identify drug candidates that could interfere with DNA transcription, RNA translation, and mutant protein production, including dislodging bound proteins to aid mis-splicing.
    • In addition, NBSE has made significant progress since its last report, showing functional recovery after subcutaneous dosing in patients suffering from myotonic dystrophy type 1.
    • The NBSE data demonstrated that compounds could cross the blood-brain barrier in vivo by allele-selective mutant protein knock-down in Huntington’s disease.
    • In 2022, NBSE will have its DM1 program in the clinic as a result of the tremendous momentum it is building across its expanding development pipeline.
    • Also, the NBSE will continue to explore diseases where the PATrOL platform can provide significant therapeutic benefits.

    How NBSE will excel through its platform?

    PATrOL, NeuBase (NBSE)’s platform technology, enables it to generate precision genetic medicines with unrivaled flexibility aimed at distinct genetic disorders based on data from several programs in its pipeline. As demonstrated by the successful application of NBSE’s platform to three disease indications with different mechanisms of disease, its platform can regulate gene function in vivo at the RNA and DNA levels with high precision.

  • CTI BioPharma Corp. (CTIC) Stock Trends Higher Following Progress in Commercialization of Pacritinib

    CTI BioPharma Corp. (CTIC) stock prices stayed stable over the course of the trading day on June 25th, 2021. After-hours trading saw the stock climb by 6.84%, bringing it up to USD$2.50.

    Pacritinib Progress

    The company recently announced progress in their goal of providing pacritinib to myelofibrosis patients with thrombocytopenia, with current treatments leaving a large unaddressed need. The U.S Food and Drug Administration set a PDUFA action date of November 30th, 2021, following the acceptance of an NDA for the innovative drug.

    Ready for Commercialization

    Pushing for the commercialization and proliferation of their treatment, CTIC forecasts launching the drug in the US later in fiscal 2021. The most recent quarter has seen the ramping up of essential pre-commercial activities to facilitate a successful launch. These activities include, but are not limited to, coordinating market access, distribution, and supply chain, disease education, and force field planning and deployment.

    Operating and Net Loss Reports

    Operating loss for the first quarter of the fiscal year 2021 came out to USD$17.1 million, up from the USD$11.9 million reported for the three-month period ended March 31st, 2020. This difference is largely attributable to increases in research and development costs, as well as expenses from general and administrative activities associated with the build to the commercial launch of pacritinib.Net loss for the quarter came out to USD$17.3 million, representing a net loss of USD$0.23 per basic and diluted share. This is up from the USD$12.2 million reported in the prior-year quarter, which represented a net loss of USD$0.20 per basic and diluted share.

    Solid Liquidity Position

    The company reported a solid liquidity position as of March 31st, 2021, with cash, cash equivalents, and short-term investments coming out to USD$37.2 million. Despite being lower than the USD$52.5 million reported as of December 31st, 2021, the company forecasts being set to see its operations through to the fourth quarter of 2021. Significant contributions to this momentum was the equity financing that culminated on April 6th, 2021, generating net proceeds of USD$53.8 million.

    Future Outlook for CTIC

    Armed with a solid liquidity position, CTIC is poised to continue its trajectory of success. The company is keen to continue pushing for the eventual commercialization and proliferation of pacritinib. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Why Did SBTX Stock Lost 16%?

    Why Did SBTX Stock Lost 16%?

    In after-hours trading on Friday, Silverback Therapeutics Inc. (SBTX) saw its shares price dip -16.43 percent to $32.00. As of Friday’s close, Silverback shares were down -3.47%. In the past 50 days, the average daily volume has been 140K shares, and the stock volume remained 0.55 million shares.

    Since the beginning of the quarter, SBTX stock has decreased by -32.36%, but has stabilized in the past week. The current market cap of SBTX is $1.16 billion, and its outstanding shares were 34.77 million. Because the SBTX stock declined in the absence of recent news, we can then provide a deeper understanding of SBTX by referring to recent developments.

    What’s the latest at SBTX?

    Biopharmaceutical company Silverback Therapeutics develops drugs that can be delivered systemically and tissue-targeted for the treatment of cancer, chronic viral infections, and other serious diseases based on its unique ImmunoTAC technology platform.

    By combining proprietary payloads with monoclonal antibodies targeting specific disease sites, SBTX’s platform is able to modulate key disease modifying pathways. Silverback is initially developing targeted immuno-oncology agents that target the tumor microenvironment with a TLR8 agonist myeloid cell activator in order to kill cancer cells.

    Silverback attended the Raymond James Human Health Innovation Conference last week. During Wednesday, June 23rd’s presentation, SBTX’s Chief Executive Officer, Laura Shawver, Ph.D., provided a company overview.

    SBTX made the presentation available live via the website and a webcast replay is available for 30 days at the site. The management team of SBTX also attended the conference in addition to hosting investor meetings.

    Last month, Silverback reported financial results for the first quarter ended March 31, 2021.

    First Quarter Financial Results:

    • SBTX posted a net loss of $18.9 million, compared with a loss of $5.3 million a year ago.
    • Non-cash stock-based compensation expense of $4.3 million compared to $47,000 during the same period last year drove the loss.
    • According to the report, the R&D expenses of SBTX were $12.2 million, as compared to $4.4 million for the same period in 2020.
    • During 2021, SBTX’s research and development expenses, including those associated with SBT6290 and SBT8230, increased in large part due to the advancement of pipeline programs.
    • SBTX spent $6.6 million on general and administrative expenses, compared to $0.8 million last year.
    • In addition to higher personnel expenses in 2020, including new executives, and increased salary, bonus, and stock compensation, the increases in general and administrative costs are primarily due to increased headcount.

    Is the liquidity of SBTX is strong enough?

    Silverback (SBTX) had $374.2 million in cash and cash equivalents at March 31, 2021, compared with $386.6 million at December 31, 2020. Within the next 24 months, these funds will be sufficient to cover all SBTX’s operating expenses and capital expenditures.

  • Top 5 Dividend Stocks To Watch in 2021

    When someone wants to invest in a particular stock, a common question comes in the mind. Whether the stock pays the dividend or not. It is because the dividend is the source of passive income. Moreover, it gives you a general idea about the company’s performance.

    If you are new to stocks, you might be thinking about what actually the dividend is. Informally dividend is the thank you gesture to its loyal shareholders in the form of cash or shares. Formally, a Dividend is the part of the money or additional shares that a company gives regularly to its shareholders from its profits. But it is not mandatory for the company to pay a dividend. The company’s board of directors decide whether to give dividend or not. Here are few things that you need to know about the dividend.

    Declaration Date: It is the announcement date of the dividend.

    Ex-Dividend date: It is the date on or after which the buyer of the stock is not eligible to get the dividend.

    Date of Record: It is the date on which a company identifies its shareholders.

    If you want a dividend, you must have to purchase stock two days before the date of record.

    Now we will discuss the top 5 monthly paying dividends stocks that we have picked for you.

    Pembina Pipeline Corporation (PBA)

    Let’s start with stock number 5 which is Pembina Pipeline Corporation with the ticker symbol PBA. It is the leading energy transportation and midstream service provider for more than 65 years. The company owns pipelines that transport hydrocarbons and natural gas products. The company has an 18.15-billion-dollar market cap. Its shares have climbed more than 37% in the past 12 months. First-quarter 2021 revenue grew by 22.38% over the year. Pembina has a 3.38% dividend yield which is relatively good in the covid era. Its three-year dividend growth rate is 18.79% and almost  53% payout ratio based on cash flow. Why this stock is good because oil and gas are the need of almost every segment of life. As the global economy is in the recovery phase, the demand for oil and gas will increase. This change will have a positive impact on Pembina Pipeline. Furthermore, its earnings per share for the second quarter of 2021 are estimated to be increased by 42.88% year over year. So based on these facts, we can say that this low dividend yield stock is less risky as compared to other industry peers.

    Prospect Capital Corporation (PSEC)

    Prospect Capital Corporation, which trades with ticker symbol PSEC, is on number 4 in our list of monthly paying dividends stocks. It is a business development company that provides financing to middle-market companies. The company has a 3.45-billion-dollar market cap and is doing business in 39 industries. Its portfolio is mostly debt-based and expanded to more than 120 companies. The company’s shares reflect almost 70% growth over the last year which is a good sign. Prospect Capital has quite a high dividend yield of 8.08% however, its dividend has not shown growth in the last three years. The stock is appealing in terms of monthly dividends due to its income potential. As it operates by financing middle-market companies in various industries ranging from candle makers to IT service providers, it generates consistent revenue and pays high yield dividends to its shareholders. Its shares are climbing significantly in this year and therefore it can pay you high dividends along with handsome profits.

    AGNC Investment Corp (AGNC)

    The third monthly dividend stock that we have picked for you is AGNC Investment Corporation with the ticker symbol AGNC. It is a real estate investment trust company that mainly invests in mortgage-backed securities instead of physical real estate. Due to this reason, AGNC stock is appealing to many investors. The company has a market cap of 8.96 billion dollars. Its shares increased by 33.15% over the last 12 months. By the end of March 2021, the company had a 90.3 billion dollars investment portfolio which is quite massive. The company has made a great comeback in 2021 after an ordinary performance due to covid-19. Its first-quarter 2021 revenue and income surged by more than 140%. So it means that the AGNC stock is now on its way to grow. AGNC dividend yield is 8.44% and the payout ratio is 29.86%. Due to its massive mortgage-backed portfolio, the rising interest rates do not affect the company’s business rather it benefits AGNC. Moreover, the current financial condition is favorable for the company to enhance its portfolio. So based on its safe business nature and financial condition, this stock can prove to be fruitful to you in the future.

    STAG Industrial, Inc. (STAG)

    The stock number two in our list of monthly dividend stocks is the STAG industrial Incorporation with the ticker symbol STAG. It is the real estate investment trust company acting as the lead in the light industrial and logistic properties. The company has more than a 6 billion market cap. its portfolio is spread across 39 states of the U.S. Approximately 40% portfolio belongs to e-commerce activity and Amazon is its biggest tenant. The company owns 494 buildings covering 99.1 million square feet of area. So you can now imagine how large a portfolio we are talking about.

    STAG shares rose almost 35% over the past year. This shows that the company performed exceptionally even in the pandemic era. Its dividend yield is 3.80% and 2.49% three-year dividend growth rate. The payout ratio based on cash flow is 52.11%. Its dividend track record is quite attractive as it is consecutively growing for the last seven years. Its quarterly revenue has been increased 13% over the year. A 16% projected increase for the second quarter of 2021 is a good sign for investors. Now you must have got an idea why this stock is good for you. Furthermore, this stock is safe and consistent so if you are too shy to come out of your comfort zone in terms of investment in stocks, STAG Industrial will suit well to you.

    Realty Income Corporation (O)

    Realty Income Corporation is another dividend-paying stock to watch in 2021. It is a real estate investment trust company. Although several companies pay monthly dividends, this company is well known for its monthly dividends. That’s why it actually trademarked “The monthly dividend company “ as its official nickname. The companies diversified portfolio includes 6600+ properties and 56 retail and other industries. The company is dealing with more than 600 clients across 50 states, Puerto Rico, and the United Kingdom. Its share jumped 13.39% over the past year. The first-quarter revenue represents almost 7% positive change. The dividend yield for the Reality Income is 4.18%. The three-year dividend growth is 10.41%. Since its listing, it has paid 611 consecutive dividends to its shareholders. The dividend is growing consecutively for the past 27 years which is not an ordinary thing. Even in the pandemic era, its diversified portfolio and discipline helped to maintain the dividend growth streak. Now the economy is coming back to life, we expect that its affected tenants like cinema operators and gyms will be in much better shape financially.

  • Milestone Scientific Inc. (MLSS) Stock Surges Ahead of Expansion of Medical Sales Team

    Milestone Scientific Inc. (MLSS) stock prices surged by a hefty 14.15% some time after market trading commenced on June 25th, 2021, bringing the price per share up to USD$2.34. early on in the first half of the trading day.

    Financial Reports

    Revenue for the first quarter of the fiscal year 2021 was reported at USD$2.9 million, a 61% increase on the USD$1.8 million reported for the same quarter of the prior year. The company also reported a strong 32% sequential increase in sales for Q1 2021 as compared to the fourth quarter of the fiscal year 2020. Net loss was down significantly, as were operating expenses, as the company strove towards a leaner financial structure. The company’s dental segment continued to have a positive cash flow on a stand alone basis, ushering in continued growth opportunities.

    Flagship Technology

    The company continues to allocate resources and its primary focus towards the commercialization and proliferation of its CompuFlo Epidural System within our medical segment. As the prevalence of the CompuFlo Epidural Instrument and CathCheck System rises among medical institutions, the company continues to aggressively build the sales and market organization in preparation for the next phase of their growth.

    Snowballing Growth

    The latest commercial orders from various renowned hospitals serve to validate the safety and efficacy of MLSS’s technology, which set it apart from conventional syringe-based applications. 2021 is expected to be a year rife with transformative growth for the medical business, with the company keen to execute their goal of setting a new standard of care for epidural procedures in labor and delivery with their medical instruments and disposables.

    Strong Liquidity Position

    With the company reporting USD$17 million in cash and cash equivalents as of March 31st 2021, their strong liquidity positive offers them the ability to accelerate their sales and marketing activities, centering around both dental and medical instruments. MLSS is eager to advance the development and commercialization of their proprietary DPS Dynamic Pressure Sensing Technology, which they believe to indicate further growth opportunities. With the recent changes in leadership, the company is ready for an unprecedented rest of the year.

    Future Outlook for MLSS

    Armed with a solid liquidity position, MLSS is poised to continue its trajectory of success as it establishes itself as the new standard in healthcare. Current and potential investors are hopeful that management will continue leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Alfi, Inc. (ALF) Stock Continues to Skyrocket as Latest Target of Meme Stock Phenomenon

    Alfi, Inc. (ALF) stock prices were up by a massive 50.11% shortly after market trading commenced on June 25th, 2021, bringing the price per share up to USD$19.29 early on in the trading day.

    Share Repurchase Program

    June 23rd, 2021 saw the SaaS platform company announce that its Board of Directors had given the green light for the company to go ahead with a share repurchase program, which would see the repurchasing of up to USD$2 million of its common stock. The company cited the exercising of outstanding warrants, associated with its recent IPO, having benefited its balance sheet as a major factor in the decision to implement the repurchasing program.

    Recent Skyrocketing

    While potentially favorable for investors, these developments do not, however, explain the recent activity seen by ALF’s stock prices. June 22nd, 2021 saw the shares close while up 108.8%. Rather, ALF seems to be the latest target for the meme stock phenomenon that has dominated the stock markets in recent weeks. The company’s market cap has skyrocketed to USD$201 million, up from the USD$15.5 million valuation from earlier in May of 2021. June 22nd, 2021 saw the stock touch a high of USD$16.45 million, after having been traded at a monumental volume of 211 million shares. On that day, ALF was the third most actively traded stock on the U.S exchanges.

    Agreement with All-Niter

    June 15th, 2021 had seen another such massive surge in share price, of 104.4%, but this was in the wake of the announcement of ALF’s agreement with All-Niter. As per the agreement, the partner would be responsible for the shipment and installment of the first 10,000 digital Alfi tablets to be distributed on a global scale to drivers for Uber and Lyft.

    Meme Stock Phenomenon

    Driven by users of the popular social media platform, Reddit, investors coordinate to invest heavily in companies that exhibit a high short interest. As the price is inflated, the Reddit-driven investors cash out on their investments, while hedge funds and other corporate investors scramble to mitigate their losses as a result of the short squeezes. With a trend of picking underdog companies, sometimes on the brink of collapse, these readers confound more seasoned investors with the absence of a valid reason to invest in the companies they do. Lacking major recent developments or changes in fundamentals to justify the skyrocketing prices, this phenomenon has made for a very volatile market as of late.

    Future Outlook for ALF

    Armed with the influx of capital from the skyrocketing of equity value, ALF is poised to capitalize on the opportunities afforded to it. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Here’s to know why IKONICS Corporation (IKNX) stock is soaring today

    IKONICS Corporation (IKNX) stock and TeraWulf announced the merger agreement today on June 25, 2021, after which the IKNX stock price saw a surge of 97.35% to reach $22.30 a share at the time of this writing. IKONICS Corporation is an imaging technology company that is engaged in the manufacturing and selling of photosensitive liquids and films around the globe. Let’s discuss the recent events in detail.

    What’s Happening?

    IKONICS stock entered into the merger agreement with TeraWulf pursuant to which both of these companies will combine under the new holding company. TeraWulf is now expecting to be listed on the Nasdaq stock market. The new combined holding will have the name TeraWulf Inc and would trade in the Nasdaq stock market under the ticker symbol WULF.

    Agreement Overview:

    According to the unanimously approved agreement, each outstanding share of the IKNX common stock will get $5.00 in cash, one CVR, and one share of the common stock of the combined company. The shareholders of the IKNX stock will get 95% of the net proceeds via CVR’s from any sale of IKNX’s legacy business during the one and half year period following the closing of the combined business. The shareholders of IKNX would not be entitled to the above-mentioned percentage of net proceeds after 18 months concerning any unsold IKNX’s legacy business. Subject to regulatory approvals by concerned authorities, the transaction is expected to close in the second half of 2021.

    Previous activity by IKNX stock:

    On May 21, 2021, did announce the brand collaboration with Teresa Collins Studio, which is a reputable global brand in the craft industry, in order to promote the Ikonart® Custom Stencil Kit as well as Ikonart ancillary product line. Teresa’s brand images, designs, and patterns will be used by Ikonart.

    Financial View of the IKNX stock:

    According to first-quarter 2021 financial results, IKONICS stock net sales were reduced by  12.1% to drop at $3,073,000 as compared to $3,497,000 net sales in the first quarter of 2020.Net loss of $322,000 was improved by 45.1% as compared to $587,000 net loss in the same quarter of last year.

    IKNX stock had $4.4 million cash, $4.1 million working capital, and a netbook value of $11.6 million by the end of March 2021.

    Conclusion:

    The merger agreement with TeraWulf made the IKONICS stock bullish today. The management thinks that this merger agreement would provide ideal outcomes for its shareholders, employees, and customers.

  • loanDepot, Inc. (LDI) Stock Trends Higher Following Changes in Executive Leadership

    loanDepot, Inc. (LDI) stock prices were up by a marginal 1.15% shortly after market trading commenced on June 25th 2021, bringing the price per share up to USD$13.14 early on in the trading day.

    Joint Venture

    June 3rd 2021 saw the company announce an innovative new joint venture by the name of Farm Bureau Mortgage. As the second-largest retail mortgage lender in the U.S, LDI is keen to collaborate with Farm Bureau Bank, with its member-base of more than 5 million. The joint venture will see the two finance giants work together to consolidate and expand their cumulative market footprint.

    Farm Bank Bureau

    The federally chartered Savings Bank, Farm Bank Bureau has its HQ in Nevada and offers a myriad of financial products and services, including, but not limited to, checking accounts, quto loans, credit cards, and business services. Having been in operation since 1999, the Bank has come to serve local Farm Bureaus and their members in a total of 45 states.

    Dividend Payout

    May 13th 2021 had seen the company announce a regular cash dividend of USD$0.08 oper share of its Class A common stock and Class D common stock. The dividend will be paid out on July 16th 2021 to investors who were stockholders of record as of the close of July 1st 2021.

    Net Income Reports

    Net income for the first quarter of the fiscal year 2021 was reported at USD$427.9 million, down from the USD$547.2 million reported in the previous quarter. Adjusted net income was down to USD$319.4 million for the quarter, down from USD$375.7 million for the fourth quarter of 2020. These quarter-over-quarter decreases were largely attributable to a decline in gain on sale margins and increases variable expenses arising from higher loan origination volume.

    Solid Liquidity Position

    As of March 31st 2021, the company reported USD$630.5 million in unrestricted cash and cash equivalent, a massive increase from their liquidity position as of December 31st 2020. This drastic increase is largely driven by the issuance of USD$600 million in senior notes, offset by USD$6 million as per the company’s existing operating agreement. AS per the same agreement, the company also dished out profit distributions in the amount of USD$160.3 million.

    Future Outlook for LDI

    Armed with a solid liquidity position and an exciting new joint venture, LDI is poised to continue its trajectory of success. Current and potential investors are hopeful that management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Happiness Biotech Group Limited (HAPP) stock is falling today: What’s Going on?

    Happiness Biotech Group Limited (HAPP) stock announced a $2.16 million registered direct offering to strategic investors after which the stock price saw a drop of 2.78% to drop at $1.57a share at the time of this writing. At the previous closing, the stock was gloomy with a 0.61% loss. Let’s deep dive to explore more of it.

    What’s Happening?

    Happiness Biotech Group Limited is the nutraceutical and dietary supplement producer in the People’s Republic of China. Happiness stock signed the securities purchase agreement with certain U.S investors according to which HAPP stock will sell 1.24 million ordinary shares to the strategic investors at a purchase price of $1.74 which represents a premium of 7.4% to the closing price of June 24, 2021. HAPP stock is planning to use the net proceeds resulting from this offering in the development of its business under the brand Taochejun. Part of the net proceeds will be used for the working capital as well as general corporate purposes.

    Happy Buy International: eCommerce Platform

    On June 18, 2021, HAPP stock launched the beta version of the official site Happy Buy International that is mainly intended to promote HAPP’s cross-border eCommerce SaaS services. The COVID-19 pandemic has affected every business and many businesses were shifted from offline to online. The global economy has suffered a lot. Considering these facts, the HAPP stock decided to launch its official Happy Buy International site. TikTok will be used as the main social media platform for the promotion of the newly launched eCommerce site.

    Suppliers can make profits via selling their products in HAPP’s ecommerce platform via promoting their products through self-made videos and graphic content. Moreover, marketers can make sales reward by promoting the products to consumers via various marketing campaigns.

    Agreement with Guang’an Ruili:

    On June 14, 2021, HAPP stock did entered into the agreement with  Guang’an Ruili Trading Co., Ltd for joint purchasing and selling of 1213 Volkswagen electric vehicles.1213 pure electric vehicle “e-Bora” will be jointly purchased by Taochejun and Ruili with approximately $14.10 million consideration.

    Conclusion:

    The announcement of a $2.16 million registered direct offering is the obvious reason of the falling HAPP stock today. The management is keen to follow the latest trends in business for growth and signed many agreements recently.

  • Paysafe Ltd. (PSFE) Stock Surges as Partnership with Wix Gains Market Traction

    Paysafe Ltd. (PSFE) stock prices were down by a marginal 0.80% as of the market closing on June 24th, 2021, bringing the price per share down to USD$11.11 at the end of the trading day. Subsequent current market fluctuations have seen the stock rise by 12.69%, bringing it up to USD$12.52.

    Notes Offering

    June 10th, 2021 saw the company announce the pricing of its previously announced offering of USD$931 million aggregate principal among senior secured notes. The offering will consist of USD$400 million of 4.00% senior secured notes, with a due date of 2029, in addition to 435 million Euros worth of 3.00% senior secured notes that will also be due in 2029. The offering has an expected closing date of June 28th, 2021, pending customary closing conditions. PSFE plans to refinance certain existing indebtedness with the capital generated from the notes offering, in conjunction with proceeds from new term facilities.

    Partnership with Wix

    PaySafe’s digital payments brand announced on June 1st 2021 that it had entered into a strategic partnership with Wix, a leading global SaaS platform wherein businesses can develop their online presence. The multi-country collaboration will see Skrill’s payment gateway being integrated with Wix to facilitate the option to accept payments for millions of business owners.

    Scope of Collaboration

    With over 200 million users worldwide, Wix provides its consumer base with a world-class platform that facilitates the building of a commercial online presence. The collaboration allows for accessible payment options in over 40 currencies, via credit and debit cards, local payment methods, and more than 80 banks globally. Integrated into the system are Skrill digital wallet and other Paysafe services, including Rapid Transfer and Paysafecash.

    Promising Research

    Paysafe conducted research in October 2020 that showed 84% of small to medium-sized businesses experienced a need to modify operations in light of the outbreak of the pandemic, specifically to appeal to a broader target market with adapting digital strategies being a core part of the strategy. 78% of the businesses that implemented changes specifically diversified their payment offerings, while 66% consequently saw an increase in sales.

    Future Outlook for PSFE

    Armed with an influx of capital to consolidate its balance sheet and an exciting new partnership, PSFE is poised to continue its trajectory of success. The company is keen to capitalize on the opportunities afforded to it in order to usher in further growth. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.