Tag: Business

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance–Third paragraph, first sentence of the release should read: The rating affirmations follow the close of the transaction, effective December 17, 2021, where Asbury has acquired Landcar as part of an acquisition that also includes the Larry H. Miller dealerships for approximately $3.2 billion (instead of …approximately $3.3 billion).

The updated release reads:

AM BEST AFFIRMS CREDIT RATINGS OF LANDCAR CASUALTY COMPANY

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Landcar Casualty Company (Landcar) (Sandy, UT), recently acquired by Asbury Automotive Group, Inc. (Asbury) [NYSE: ABG]. The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Landcar’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).

The rating affirmations follow the close of the transaction, effective December 17, 2021, where Asbury has acquired Landcar as part of an acquisition that also includes the Larry H. Miller dealerships for approximately $3.2 billion. Asbury is a publicly traded Fortune 500 automotive retailer that is considered the fourth-largest automotive retailer in the United States. Immediate holding company, Asbury Automotive Group, LLC, will own 100% ownership of Landcar.

Landcar’s ratings are supported by its strongest risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), and solid underwriting performance, as well as benefits derived from its niche profile as a writer of auto-related insurance products sold through a network of affiliated automotive dealerships under the Asbury group. Landcar’s neutral business profile, while experiencing some execution risk associated with expansion into additional states, is expected to support the Asbury’s organization by vertically integrating its finance and insurance products within the group. AM Best considers Landcar’s ERM to be appropriate, with policies and procedures in place for the business written. AM Best will monitor the expansion and the new parent’s use of the operating entity, as Landcar is expected to support its growth by focusing on staffing needs and integration opportunities within Asbury.

The stable outlooks reflect AM Best’s expectation that Landcar will maintain its balance sheet strength at the very strong level and its operating performance at the adequate level, while managing its strategic initiatives to expand its book of business as a result of the Asbury acquisition.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Anthony Molinaro
Senior Financial Analyst
+1 908 439 2200, ext. 5608
anthony.molinaro@ambest.com

Vicky Riggs
Associate Director
+1 908 439 2200, ext. 5039
vicky.riggs@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Arculus partners with the world’s largest Bitcoin conference to distribute 25,000 crypto security cards during the April event in Miami Beach, Florida

SOMERSET, N.J. — (BUSINESS WIRE) — $DBDR #3FA–Insert at end of second paragraph, first sentence of release dated December 15, 2021: and CompoSecure, which recently announced it had signed a merger agreement with Roman DBDR Tech Acquisition Corp. (NASDAQ: DBDR) (“Roman DBDR”), a special purpose acquisition company.

The updated release reads:

ARCULUS^TM BRINGS THE NEXT GENERATION OF CRYPTO SECURITY TO BITCOIN 2022

Arculus partners with the world’s largest Bitcoin conference to distribute 25,000 crypto security cards during the April event in Miami Beach, Florida

CompoSecure Holdings, L.L.C. (“CompoSecure”), a leading provider of premium financial payment cards and an emergent provider of cryptocurrency storage and security solutions, today announced its Arculus business has partnered with Bitcoin 2022 to provide each of the estimated 25,000 conference attendees a custom-designed Arculus Key™ Card crypto security solution.

“Crypto is going mainstream and Bitcoin 2022 attendees, among the savviest crypto market participants, will lead the way to secure their crypto,” said Adam Lowe, Chief Innovation Officer of Arculus and CompoSecure, which recently announced it had signed a merger agreement with Roman DBDR Tech Acquisition Corp. (NASDAQ: DBDR) (“Roman DBDR”), a special purpose acquisition company. “As more people buy cryptocurrencies, hacks are expected to continue to rise, and Arculus, which literally means ‘strong box,’ is positioned to become the new standard in securing an individual’s digital assets.”

The Arculus Key Card and Arculus Wallet^TM App work together with a one-of-a-kind 3-factor authentication security solution to make it simple, safe and secure to store, buy, swap, send and receive cryptocurrency.

“The Arculus Card is a new cold storage product that we are excited to get in the hands of everyone attending the largest Bitcoin event in the world.” said David Bailey, CEO of BTC Media, “BTC works hard to educate our audience on the very best innovation on the market to protect their digital assets, and allow for easier use for the largest community.”

Your Arculus Card uses a secure element to store your encrypted private keys, meaning your crypto keys remain in your possession. Transactions require three factors of authentication combining:

• Something You Are – Your app will authenticate with your unique biometrics.
• Something You Know – Your app will ask you to input your private 6-digit PIN.
• Something You Have – Your Arculus Key Card contains an EAL 6+ embedded secure element that holds your encrypted private keys. Simply tap the card to your phone to complete your transaction.

The new co-branded Bitcoin 2022 Arculus Key Card to be distributed at the Miami Beach event in April 2022 is an example of a non-custodial private key management solution offering the Arculus Key Card and Arculus Wallet App’s security, privacy and ease of use. Whale Pass attendee (VIPs with added benefits at the conference) will receive an exclusively designed, limited-edition Bitcoin 2022 Arculus Whale Key Card. Cryptocurrency exchanges, financial institutions and other fintechs can add their own branding for a best-in-class white-label solution, offering their customers safe storage of their cryptocurrency.

On November 30, 2021, CompoSecure and Roman DBDR announced a special meeting of Roman DBDR stockholders to consider matters related to the proposed business combination with CompoSecure. The meeting will be held on December 23, 2021 at 10:00 a.m., Eastern Time, in a virtual format. Roman DBDR stockholders may attend and vote at the Special Meeting by visiting https://www.cstproxy.com/romandbdr/sm2021 and entering the control number found on their proxy card, voting instruction form or notice included in their proxy materials.

More information about voting and attending the Special Meeting is included in the definitive proxy statement filed by Roman DBDR with the Securities and Exchange Commission (the “SEC”) on November 30, 2021, which is available without charge on the SEC’s website at http://www.sec.gov or https://www.romandbdr.com/investor-relations.

About CompoSecure and Arculus

Founded in 2000, CompoSecure is a pioneer and category leader in premium payment cards and an emergent provider of cryptocurrency and digital asset storage and security solutions. The company focuses on serving the affluent customers of payment card issuers worldwide using proprietary production methods that meet the highest standards of quality and security. The company offers secure, innovative, and durable proprietary products that implement leading-edge engineering capabilities and security. CompoSecure’s mission is to increase clients’ brand equity in the marketplace by offering products and solutions which differentiate the brands they represent, thus elevating cardholder experience. For more information, please visit www.composecure.com. Arculus^TM was created with the mission to promote cryptocurrency adoption by making it safe, simple and secure for the average person to store, buy, swap, send and receive cryptocurrency. With a strong background in security hardware and financial payments, the Arculus^TM solution was developed to allow people to use a familiar payment card form factor to manage their cryptocurrency. For more information, please visit www.GetArculus.com.

About Roman DBDR Tech Acquisition Corp.

Roman DBDR is a special purpose acquisition company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or entities. While the company may pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector, it intends to focus its search on companies in the technology, media and telecom (“TMT”) industries. The company is led by its Co-Chief Executive Officers, Dr. Donald G. Basile and Dixon Doll, Jr. The company’s experienced board of directors includes former NVCA Chairman and longtime venture capitalist Dixon Doll, Global Net Lease (NYSE: GNL) CEO James L. Nelson, former fund manager Paul Misir, investment banker and investor Arun Abraham, and entrepreneur Alan Clingman. For more information, please visit www.romandbdr.com Roman DBDR raised $236 million in its initial public offering (inclusive of underwriter’s exercise of over-allotment option) in November 2020 and is listed on Nasdaq under the symbol “DBDR.”

Forward-Looking Statements

Certain statements included in this Press Release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to statements regarding Roman DBDR’s or CompoSecure’s expectations, hopes, beliefs, intentions or strategies regarding the future, including, without limitation, statements regarding: (i) the ability of Roman DBDR and CompoSecure to complete the proposed merger described in the Press Release, (ii) the size, demand and growth potential of the markets for CompoSecure’s products and CompoSecure’s ability to serve those markets, (iii) the degree of market acceptance and adoption of CompoSecure’s products, (iv) CompoSecure’s ability to develop innovative products and compete with other companies engaged in the financial services and technology industry, and (v) CompoSecure’s ability to attract and retain clients. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this Press Release, and on the current expectations of CompoSecure’s and Roman DBDR’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, a prediction or a definitive statement of fact or probability. Neither Roman DBDR nor CompoSecure gives any assurance that either Roman DBDR or CompoSecure will achieve its expectations. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of CompoSecure and Roman DBDR. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Roman DBDR’s and CompoSecure’s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These factors include, among others: the inability to complete the proposed merger; the inability to recognize the anticipated benefits of the proposed merger, including due to the failure to receive required security holder approvals, or the failure of other closing conditions; and costs related to the proposed merger. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the definitive proxy statement on Schedule 14A (the “Proxy Statement”) relating to the proposed merger filed by Roman DBDR with the U.S. Securities and Exchange Commission (the “SEC”) and other documents filed by Roman DBDR from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that none of Roman DBDR or CompoSecure presently know or that Roman DBDR or CompoSecure currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Roman DBDR’s and CompoSecure’s expectations, plans or forecasts of future events and views as of the date of this Press Release. Roman DBDR and CompoSecure anticipate that subsequent events and developments will cause Roman DBDR’s and CompoSecure’s assessments to change. However, while Roman DBDR and CompoSecure may elect to update these forward-looking statements at some point in the future, Roman DBDR and CompoSecure specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Roman DBDR’s and CompoSecure’s assessments as of any date subsequent to the date of this Press Release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Certain market data information in this Press Release is based on the estimates of CompoSecure and Roman DBDR management.

Additional Information about the Proposed Merger and Where to Find It

In connection with the proposed merger, Roman DBDR has filed a definitive proxy statement with the SEC. The documents relating to the proposed merger can be obtained free of charge from the SEC’s website at www.sec.gov. These documents can also be obtained free of charge by contacting CompoSecure at: Marc P. Griffin, ICR for CompoSecure, 646-277-1290, CompoSecure-IR@icrinc.com.

Participants in the Solicitation

This communication is not a solicitation of a proxy from any security holder of Roman DBDR. CompoSecure, Roman DBDR and our respective directors, executive officers, other members of management and employees may be deemed to be participants in the solicitation of proxies from Roman DBDR’s stockholders in connection with the proposed merger. Information regarding the names and interests in the proposed merger of Roman DBDR’s directors and officers is contained Roman DBDR’s filings with the SEC. Additional information regarding the interests of potential participants in the solicitation process has also been included in the definitive proxy statement relating to the proposed merger and other relevant documents filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

Contacts

Media Contact:

Wes Robinson

310-824-9000

wrobinson@olmsteadwilliams.com