Tag: Business

— Appointment to become effective on June 14, 2021 —

 

PARSIPPANY, N.J. — (BUSINESS WIRE) — B&G Foods, Inc. (NYSE: BGS) announced today that it has appointed Kenneth C. “Casey” Keller, age 59, as its next President and Chief Executive Officer, effective June 14, 2021. Mr. Keller will succeed B&G Foods’ Interim President and Chief Executive Officer, David L. Wenner, who will remain a director of the Company and will work closely with Mr. Keller to ensure a seamless transition. Mr. Keller will also be elected to B&G Foods’ Board of Directors.

Most recently, Mr. Keller served as president and CEO of JDE Peet’s NV, a $7 billion global coffee and tea company with over 20,000 employees based in Amsterdam, The Netherlands. He led the merger of Jacobs Douwe Egberts (JDE) and Peet’s Coffee, Inc. and the successful initial public offering of the combined company in May 2020. Prior to the merger, Mr. Keller was the president and CEO of Peet’s Coffee, a premium specialty coffee company based in California, and led the business through rapid growth in the United States and successful expansion into China.

 

Prior to that, Mr. Keller served as global president of the Wm. Wrigley Jr. Company, a subsidiary of Mars, Inc., where he was responsible for delivering sales and profit growth across the global gum, mints and candy business. He joined Wrigley in 2011 as president of Wrigley North America and later assumed responsibility for Wrigley Americas. In the United States, the company’s largest global market, Mr. Keller led a turnaround of the Wrigley business, delivering growth well above the industry average. During the integration of Wrigley into Mars, Mr. Keller helped establish the global business units and strategy for the combined Mars-Wrigley confectionery business.

 

Mr. Keller served as president of Alberto Culver USA from 2008 until the company’s acquisition by Unilever in 2011. He also worked at the H.J. Heinz Company in both the United States and Europe, leading the ketchup, condiments and sauces division in the United States and was the CEO of Heinz Italy. Mr. Keller began his consumer goods career with Procter & Gamble.

 

Mr. Keller earned a Bachelor of Arts degree from Cornell University and served for four years as an officer in the U.S. Navy before receiving his Master of Business Administration (MBA) from Harvard Business School.

 

Stephen C. Sherrill, Chairman of the Board of Directors of B&G Foods, stated, “We feel extremely fortunate to add Casey to our already very strong management team. Casey is a food and beverage industry veteran with excellent leadership skills and a proven track record of generating revenue and earnings growth. Casey also has experience with mergers & acquisitions and public company finance, most recently guiding JDE and Peet’s Coffee through a successful merger and post-merger IPO. We believe that Casey is the right person to lead B&G Foods and drive our organic and M&A growth strategy, promote our core values, promote our ESG and diversity, equity and inclusion (DEI) efforts, and generate value for our stockholders.”

 

Mr. Sherrill continued, “I would like to express my appreciation to the Board’s special committee on CEO succession, which was chaired by Dennis Mullen and included DeAnn Brunts, Chuck Marcy and Rob Mills. The committee conducted an extensive, thorough and intense search process that produced many exceptional candidates. It is exciting to see B&G Foods generate such a field of incredibly talented candidates as we continue to grow as a company, and I look forward to Casey leading B&G Foods into the future and toward continued growth.”

 

“On behalf of the entire company, I would also like to thank Dave Wenner for his service as our Interim President and CEO. Dave’s incredibly strong leadership skills, breadth of experience, integrity and passion for our business have been invaluable as he has guided us through this transition period.”

 

Mr. Keller stated, “I am incredibly excited to be joining B&G Foods and its very talented and dedicated workforce. We will continue to focus on organic and acquisition growth, innovation, operational improvements, cost reduction efforts and the creation of stockholder value. At the same time, we will also continue to promote and further enhance B&G Foods’ corporate social responsibility efforts, including the company’s environmental, sustainability and DEI efforts.”

 

Mr. Wenner stated, “I would like to thank all B&G Foods employees for their tremendous efforts. It has been a very rewarding experience to once again lead our company, work with our talented executive leadership team, and reinforce the principles and strategies that have helped create tremendous value for all of our stakeholders over the years. I look forward to continuing to serve on B&G Foods’ Board of Directors and assisting with Casey’s transition.”

 

About B&G Foods, Inc.

Based in Parsippany, New Jersey, B&G Foods and its subsidiaries manufacture, sell and distribute high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. With B&G Foods’ diverse portfolio of more than 50 brands you know and love, including Back to Nature, B&G, B&M, Bear Creek, Cream of Wheat, Crisco, Dash, Green Giant, Las Palmas, Le Sueur, Mama Mary’s, Maple Grove Farms, New York Style, Ortega, Polaner, Spice Islands and Victoria, there’s a little something for everyone. For more information about B&G Foods and its brands, please visit www.bgfoods.com.

 

Forward-Looking Statements

Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” The forward-looking statements contained in this press release include, without limitation, statements related to the CEO transition and the Company’s strategies, growth plans and corporate social responsibility efforts. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of B&G Foods to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “projects,” “intends,” “anticipates,” “assumes,” “could,” “should,” “estimates,” “potential,” “seek,” “predict,” “may,” “will” or “plans” and similar references to future periods to be uncertain and forward-looking. Factors that may affect actual results include, without limitation: the impact of the COVID-19 pandemic on the Company’s business, including, without limitation, the ability of the Company and its supply chain partners to continue to operate manufacturing facilities, distribution centers and other work locations without material disruption; whether and when the Company will be able to realize the expected financial results and accretive effect of the Crisco acquisition, and how customers, competitors, suppliers and employees will react to the acquisition; the Company’s substantial leverage; the effects of rising costs for the Company’s raw materials, packaging and ingredients; crude oil prices and their impact on distribution, packaging and energy costs; the Company’s ability to successfully implement sales price increases and cost saving measures to offset any cost increases; intense competition, changes in consumer preferences, demand for the Company’s products and local economic and market conditions; the Company’s continued ability to promote brand equity successfully, to anticipate and respond to new consumer trends, to develop new products and markets, to broaden brand portfolios in order to compete effectively with lower priced products and in markets that are consolidating at the retail and manufacturing levels and to improve productivity; the risks associated with the expansion of the Company’s business; the Company’s possible inability to identify new acquisitions or to integrate recent or future acquisitions or the Company’s failure to realize anticipated revenue enhancements, cost savings or other synergies from recent or future acquisitions; the Company’s ability to successfully complete the integration of recent or future acquisitions into the Company’s enterprise resource planning (ERP) system; tax reform and legislation, including the effects of the U.S. Tax Cuts and Jobs Act and the U.S. CARES Act; the Company’s ability to access the credit markets and the Company’s borrowing costs and credit ratings, which may be influenced by credit markets generally and the credit ratings of the Company’s competitors; unanticipated expenses, including, without limitation, litigation or legal settlement expenses; the effects of currency movements of the Canadian dollar and the Mexican peso as compared to the U.S. dollar; the effects of international trade disputes, tariffs, quotas, and other import or export restrictions on the Company’s international procurement, sales and operations; future impairments of the Company’s goodwill and intangible assets; the Company’s ability to protect information systems against, or effectively respond to, a cybersecurity incident or other disruption; the Company’s sustainability initiatives and changes to environmental laws and regulations; and other factors that affect the food industry generally. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in B&G Foods’ filings with the Securities and Exchange Commission, including under Item 1A, “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and in its subsequent reports on Forms 10-Q and 8‑K. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. B&G Foods undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contacts

Investor Relations:

ICR, Inc.

Dara Dierks

866.211.8151

Media Relations:

ICR, Inc.

Matt Lindberg

203.682.8214

Longtime Partner at EY and Former Security and Risk Executive at AIG and Kaiser Permanente Joins Semperis to Elevate Awareness of Urgent Need for Threat Mitigation and Rapid Response to Directory Attacks

 

HOBOKEN, N.J. — (BUSINESS WIRE) — Semperis, the pioneer of identity-driven cyber resilience for enterprises, today announced the appointment of James (Jim) W. Doggett Jr. as chief information security officer (CISO). A longtime partner at Ernst & Young (EY) LLP and a veteran security and risk executive, Doggett will be responsible for managing Semperis’ cybersecurity posture and information and risk management program, along with helping customers improve the resiliency of their foundational identity systems.

“Jim brings strong information resilience expertise and deep cybersecurity knowledge to Semperis,” said Mickey Bresman, CEO of Semperis. “His background in security risk management is particularly impressive. Today’s CISOs are tasked with managing risks that threaten their organization’s information and data security, which continue to grow in number and scope. Jim has coached and mentored some of today‘s leading CISOs and has been a staunch advocate for taking a risk-based approach to security. We look forward to building on his leadership experience to further strengthen Semperis’ cybersecurity and risk posture and expand our message on the vital role that identity systems like Active Directory play in strong foundational security.”

Demand for Semperis’ cutting-edge identity protection technology continues to grow, as the number of cyberattacks connected to privileged credential abuse rises. Forrester Research estimated that 80% of data breaches have a connection to compromised privileged credentials. With attacks increasing in both scale and complexity, security executives must prioritize the data and applications that have the greatest impact on their business, which attackers frequently attempt to access by exploiting identity systems. There has recently been an uptick in headline-grabbing attacks — including the infamous SolarWinds supply chain attack and the Hafnium attack on Microsoft Exchange — especially those that target Active Directory as an initial access vector.

With more than 35 years of experience leading cybersecurity and risk programs at global organizations, Doggett brings a powerful combination of leadership acumen and real-world experience to his new role at Semperis. Doggett served as partner at one of the largest professional services firms in the world, EY, for 28 years, where he was practice leader of the company’s information security group and responsible for all aspects of running and growing the business. During his time at EY, Doggett increased revenue by over $10 million annually, helped found its Information Technology Enablement Center (ITEC), and assisted in the development of the company’s Advanced Security Center. Most recently, Doggett held the position of senior vice president at Panaseer, where he currently serves on the Board of Directors. Doggett has previously held role as chief technology risk officer at AIG; chief security officer and chief technology risk officer at Kaiser Permanente; and managing director at JP Morgan Chase.

Doggett is the latest hire to join Semperis’ rapidly growing leadership team. The company recently announced the appointments of Chief Revenue Officer Coley Burke (former Dell EMC and Zerto sales leader), Chief Technologist Guido Grillenmeier (former HPE chief technologist), and Chief Scientist Igor Baikalov (former Bank of America senior vice president of global information security).

“This role at Semperis presents an exciting opportunity to join a team that truly understands the importance of foundational security,” said Doggett. “Active Directory is the gatekeeper to critical applications and data in 90% of organizations worldwide. The keys to the kingdom are really owned by Active Directory. It’s incredibly important that we protect Active Directory by staying abreast of the latest indicators of exposure and compromise, optimizing configurations and continually monitoring for drift from a known good state, in addition to implementing auto-remediation capabilities to stop attacks in progress and avert disasters. There’s a massive need in the market right now for organizations to approach cyber resilience with a risk-based mindset and advocate for making the most impact with the fewest resources, which can largely be accomplished through securing Active Directory. I’m looking forward to helping raise Semperis’ security posture while elevating its message around foundational security and the critical role that Active Directory and identity systems play among the broader community of security leaders.”

About Semperis

For security teams charged with defending hybrid and multi-cloud environments, Semperis ensures integrity and availability of critical enterprise directory services at every step in the cyber kill chain and cuts recovery time by 90%. Purpose-built for securing Active Directory, Semperis’ patented technology protects over 40 million identities from cyberattacks, data breaches, and operational errors. The world’s leading organizations trust Semperis to spot directory vulnerabilities, intercept cyberattacks in progress, and quickly recover from ransomware and other data integrity emergencies. Semperis is headquartered in New Jersey and operates internationally, with its research and development team distributed between San Francisco and Tel Aviv.

Semperis hosts the award-winning Hybrid Identity Protection conference (www.hipconf.com). The company has received the highest level of industry accolades and was recently ranked the fourth fastest-growing company in the tri-state area and 35th overall in Deloitte’s 2020 Technology Fast 500™. Semperis is accredited by Microsoft and recognized by Gartner.

Twitter https://twitter.com/SemperisTech
LinkedIn https://www.linkedin.com/company/semperis
Facebook https://www.facebook.com/SemperisTech
YouTube https://www.youtube.com/channel/UCycrWXhxOTaUQ0sidlyN9SA

Contacts

PR:
Ashley Crutchfield

fama PR for Semperis

617-986-5025

semperis@famapr.com

Wynn Interactive is delivering one-of-a-kind digital gaming experiences to mobile users through proprietary, differentiated technology

Combined company expected to have post-transaction enterprise value of approximately $3.2 billion

Business combination includes approximately $640 million of cash proceeds from Austerlitz Acquisition Corp I, led and founded by William P. Foley II, to help fuel growth

Cannae Holdings, Inc. has agreed to fully backstop share redemptions, assuring availability of cash proceeds at closing

Current shareholders of Wynn Interactive will retain approximately 79% of the combined Company, including 58% to be held by Wynn Resorts, Ltd.

LAS VEGAS — (BUSINESS WIRE) — Wynn Resorts, Limited (NASDAQ: WYNN) (“Wynn Resorts”) and Austerlitz Acquisition Corporation I (NYSE: AUS.U) (“Austerlitz I”) today announced that they have entered into a definitive agreement under which Austerlitz I will combine with Wynn Interactive Ltd. (“Wynn Interactive” or the “Company”), a subsidiary of Wynn Resorts, to create an independent public company. Upon closing of the proposed transaction, the combined company will retain the “Wynn Interactive, Ltd.” name and relist its shares on the Nasdaq Stock Exchange under the new ticker symbol “WBET.”

Wynn Interactive, the online gaming division of Wynn Resorts, offers a world-class collection of casino and sports betting mobile options to consumers across the U.S. and U.K. through its WynnBET, BetBull and WynnSLOTS brands. The Company delivers one-of-a-kind experiences in digital gaming that drive enhanced user acquisition and retention through unique social betting mechanics, a proprietary tech stack and high-quality user interface. Wynn Interactive currently has market access to 15 states covering approximately 51% of the U.S. population and expects to gain access to additional states in the near-term, resulting in its footprint covering approximately 77% of the U.S. population.

“We are confident that this transaction will unlock the tremendous potential of Wynn Interactive to further accelerate growth and enable the business to capture the massive opportunity in North America. Bill Foley is the ideal partner to ensure continued success – his track record with business combinations, extensive experience growing marquee consumer brands and partnering to maximize value in businesses like ours will be invaluable as we continue scaling,” said Matt Maddox, CEO of Wynn Resorts and Chairman of Wynn Interactive.

“Wynn Interactive is rapidly establishing a leadership position in what will ultimately be a $45 billion North American online sports betting and iGaming market through our relentless focus on product features, user experience and customer service. We look forward to working with Bill Foley and Austerlitz I to support Wynn Interactive’s long-term growth,” said Craig Billings, President and Executive Director of Wynn Interactive.

William P. Foley, II, Founder of Austerlitz I, commented, “I am excited to be a partner and future owner of Wynn Interactive. Wynn is the premier brand in gaming and luxury resorts and we believe our investment in Wynn Interactive fits the criteria for the type of company and management team with which we like to co-invest. I’m optimistic about the future of U.S. online casino gaming and sports betting and am confident in the ability of Matt and the Wynn Interactive team to execute the business plan and exceed their financial projections against what will be a massive addressable market.”

The business combination will provide Wynn Interactive with additional capital and expertise to accelerate its vision as a standalone company. Beyond its base of live operations in six U.S. states, together with Austerlitz I and Wynn Resorts, the Company is well-positioned to capitalize on opportunities to scale in the highly complementary and rapidly expanding online sports betting and iCasino markets, which brokers expect to grow at a 10-year CAGR of approximately 32% to $45 billion by 2030, driven in part by legislative momentum in the U.S. and Canada. Wynn Interactive plans to accelerate growth through customer acquisition initiatives, executing a broad-based, national marketing and branding campaign, including investment in mass media and partnerships, and continued product enhancements leveraging BetBull’s proprietary technology.

Transaction Overview

The combined company is expected to have an enterprise value of approximately $3.2 billion at closing, representing 4.5x Wynn Interactive’s projected 2023 revenue.

Cannae Holdings, Inc. has agreed to fully backstop share redemptions, assuring availability of cash proceeds at closing. As a result, irrespective of share redemptions by the public stockholders of Austerlitz I, approximately $640 million in cash will be available to fund the combined Company’s operations and support new and existing growth initiatives of Wynn Interactive.

Upon closing of the transaction, assuming no share redemptions by the public stockholders of Austerlitz I, Wynn Interactive’s current shareholders will retain an equity interest in the Company of approximately 79%, inclusive of 58% equity interest (and 72% voting interest) by Wynn Resorts, Ltd., Austerlitz I’s stockholders will hold approximately 18% and Austerlitz I’s sponsor will hold approximately 3%.

The proposed business combination, which has been unanimously approved by the boards of directors of both Wynn Resorts and Austerlitz I, is expected to close by the end of 2021, subject to approval by Austerlitz I’s stockholders, gaming regulatory approval and other customary closing conditions.

Following the closing of the proposed business combination, Matt Maddox will continue to serve as Chairman, Craig Billings will continue to serve as President and Executive Director, Wynn Interactive co-founder Sadok Kohen will continue to serve as CPO and Director, and Norbert Teufelberger and Ellen F. Whitemore will continue to serve as Directors. Additionally, William P. Foley, II intends to serve as a Director on the Company’s Board.

Advisors

Credit Suisse and Moelis & Company LLC are serving as financial and capital markets advisors and Kirkland & Ellis LLP is serving as legal counsel to Wynn Resorts. Bank of America is serving as financial advisor with Weil, Gotshal & Manges LLP serving as legal counsel to Austerlitz Acquisition Corporation I.

Investor Conference Call Information

Wynn Resorts and Austerlitz I will provide an investor slide presentation and pre-recorded audio-video presentation discussing the proposed business combination on their respective investor relations websites on May 10, 2021 at 5:30 p.m. EDT / 2:30 p.m. PDT. The presentations can be accessed on the “Company Info” page of the Wynn Resorts Investor Relations website (https://www.wynnresorts.com/) or the Investor Relations website of Austerlitz I (https://investor.austerlitz1.com).

An archive of the audio-video presentation, along with this press release and the investor slide presentation are available in the “investor” sections of the Austerlitz I website (https://investor.austerlitz1.com) and Wynn Resorts Investor Relations website at (https://www.wynnresorts.com/).

In addition, Austerlitz I will file the investor presentation with the SEC as an exhibit to a Current Report on Form 8-K prior to the call, which will be available on the SEC’s website at www.sec.gov.

About Wynn Resorts

Wynn Resorts, Limited is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 Index. Wynn Resorts owns and operates Wynn Las Vegas (wynnlasvegas.com), Encore Boston Harbor (encorebostonharbor.com), Wynn Macau (wynnmacau.com), and Wynn Palace, Cotai (wynnpalace.com).

Wynn and Encore Las Vegas feature two luxury hotel towers with a total of 4,748 spacious hotel rooms, suites and villas, approximately 194,000 square feet of casino space, 22 dining experiences featuring signature chefs and 11 bars, two award-winning spas, approximately 560,000 rentable square feet of meeting and convention space, approximately 160,000 square feet of retail space as well as two showrooms, two nightclubs, a beach club and recreation and leisure facilities. Wynn Las Vegas also operates the recently redesigned Wynn Golf Club and 18-hole, 129-acre championship golf course, and in February 2020 debuted a 430,000-square-foot meeting and convention space expansion powered by 100 percent renewable energy.

Encore Boston Harbor is a luxury resort destination featuring a 210,000 square foot casino, 671 hotel rooms, an ultra-premium spa, specialty retail, 16 dining and lounge venues, and approximately 71,000 square feet of state-of-the-art ballroom and meeting spaces. Situated on the waterfront along the Mystic River in Everett, Massachusetts, the resort has created a six-acre public park and Harborwalk along the shoreline. It is the largest private, single-phase development in the history of the Commonwealth of Massachusetts.

Wynn Macau is a luxury hotel and casino resort located in the Macau Special Administrative Region of the People’s Republic of China with two luxury hotel towers with a total of 1,010 spacious rooms and suites, approximately 252,000 square feet of casino space, 12 food and beverage outlets, approximately 31,000 square feet of meeting and convention space, approximately 59,000 square feet of retail space, and recreation and leisure facilities including two opulent spas, a salon and a rotunda show.

Wynn Palace is a luxury integrated resort in Macau. Designed as a floral-themed destination, it boasts 1,706 exquisite rooms, suites and villas, approximately 424,000 square feet of casino space, 14 food and beverage outlets, approximately 37,000 square feet of meeting and convention space, approximately 106,000 square feet of designer retail, SkyCabs that traverse an eight-acre Performance Lake, an extensive collection of rare art, a lush spa, salon and recreation and leisure facilities.

About Wynn Interactive

Wynn Interactive is the online gaming division of Wynn Resorts, Ltd. (Nasdaq: WYNN) offering a world-class collection of casino and sports betting mobile options for discerning players who understand the difference between placing a bet and experiencing a bet. Wynn Interactive’s products, operated under the WynnBET, WynnSLOTS, and BetBull brands, are designed to digitally deliver the legendary service and guest experience Wynn Resorts is known for, backed by the Company’s trusted legacy as the world’s premier international casino operator.

WynnBET is anchored by its eponymous mobile sports and casino betting app providing one-of-a-kind experiences, unique social betting mechanics, and a high-quality user interface. Currently available in New Jersey, Colorado, Michigan, Virginia, Indiana, and Tennessee, WynnBET is poised for rapid expansion in 2021 with market access opportunities in nine states and several pending license applications in process. WynnBET is an Authorized Gaming Operator of NASCAR and proud partner of the Memphis Grizzlies and Detroit Pistons, with more partnerships to be announced. For more information, visit WynnInteractive.com or WynnBET.com.

About Austerlitz Acquisition Corporation I

Austerlitz Acquisition Corporation I is a newly incorporated blank check 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. For more information, please visit https://investor.austerlitz1.com/.

About Cannae Holdings, Inc.

Cannae Holdings, Inc. (NYSE: CNNE) is engaged in actively managing and operating a group of companies and investments, as well as making additional majority and minority equity portfolio investments in businesses in order to achieve superior financial performance and maximize the value of these assets. Cannae was founded and is led by investor William P. Foley, II. Foley is responsible for the creation and growth of over $140 Billion in publicly traded companies including Fidelity National Information Services (“FIS”), Fidelity National Financial (“FNF”), and Black Knight, Inc. (“BKI”). Cannae’s current principal holdings include Dun & Bradstreet Holdings, Inc. (“DNB”), which recently completed a successful business transformation and IPO. Cannae holds an approximately 18% interest in Dun & Bradstreet or approximately 76.0 Million shares. Cannae’s second principal holding is Ceridian (“CDAY”), which Foley transformed from a legacy payroll bureau into a leading cloud-based provider of human capital management software. Cannae owns 9.4% of Ceridian representing approximately 14 Million shares. Cannae also holds approximately 54.0 Million shares, or approximately 7.5% of Paysafe (“PFSE”), as well as 8.1 Million Paysafe warrants.

Additional Information about the Business Combination and Where to Find It

In connection with the proposed business combination, a registration statement on Form S-4 (the “Form S-4”) is expected to be filed by Austerlitz I with the U.S. Securities and Exchange Commission (“SEC”) that will include a proxy statement to be distributed to holders of Austerlitz I ordinary shares in connection with Austerlitz I’s solicitation for proxies for the vote by Austerlitz I’s shareholders regarding the proposed business combination with Wynn Interactive and other matters as described in the Form S-4, as well as a prospectus of Austerlitz I relating to the offer of the securities to be issued in connection with the completion of the business combination. Austerlitz I and Wynn Interactive urge investors, shareholders and other interested persons to read, when available, the Form S-4, including the proxy statement/prospectus, as well as other documents filed with the SEC in connection with the proposed business combination, as these materials will contain important information about Austerlitz I, Wynn Interactive and the proposed business combination. Such persons can also read Austerlitz I’s final prospectus dated February 25, 2021 (SEC File No. 333-252932), for a description of the security holdings of Austerlitz I’s officers and directors and their respective interests as security holders in the consummation of the proposed business combination. After the Form S-4 has been filed and declared effective, the definitive proxy statement/prospectus will be mailed to Austerlitz I’s shareholders as of a record date to be established for voting on the proposed business combination. Shareholders will also be able to obtain copies of such documents, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to Austerlitz Acquisition Corporation I, 1701 Village Center Circle, Las Vegas, NV 89134, or (702) 323-7330.

Participants in the Solicitation

Austerlitz I and Wynn Interactive and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Austerlitz I’s shareholders in connection with the proposed business combination. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of Austerlitz I’s directors and executive officers in Austerlitz I’s final prospectus dated February 25, 2021 (SEC File No. 333-252932), which was filed with the SEC on March 1, 2021. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of Austerlitz I’s shareholders in connection with the proposed business combination will be set forth in the proxy statement/prospectus for the proposed business combination when available. Information concerning the interests of Austerlitz I’s and Wynn Interactive’s participants in the solicitation, which may, in some cases, be different than those of Austerlitz I’s and Wynn Interactive’s equity holders generally, will be set forth in the proxy statement/prospectus relating to the proposed business combination when it becomes available.

No Offer or Solicitation

This communication is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Austerlitz I or Wynn Interactive, nor shall there be any sale of any such 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. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or exemptions therefrom.

Forward-Looking Statements

This communication includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. 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, an assurance, a prediction or a definitive statement of fact or probability. Austerlitz I’s and Wynn Interactive’s actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Austerlitz I’s and Wynn Interactive’s expectations with respect to future performance and anticipated financial impacts of the proposed business combination, the satisfaction or waiver of the closing conditions to the proposed business combination, and the timing of the completion of the proposed business combination.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially, and potentially adversely, from those expressed or implied in the forward-looking statements. Most of these factors are outside Austerlitz I’s and Wynn Interactive’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change, or other circumstances that could give rise to the termination of the business combination agreement (the “Agreement”); (2) the outcome of any legal proceedings that may be instituted against Austerlitz I and/or Wynn Interactive following the announcement of the Agreement and the transactions contemplated therein; (3) the inability to complete the proposed business combination, including due to failure to obtain approval of the shareholders of Austerlitz I, certain regulatory approvals, or satisfy other conditions to closing in the Agreement; (4) the occurrence of any event, change, or other circumstance that could give rise to the termination of the Agreement or could otherwise cause the transaction to fail to close; (5) the impact of COVID-19 on Wynn Interactive’s business and/or the ability of the parties to complete the proposed business combination; (6) the inability to obtain or maintain the listing of Austerlitz I’s ordinary shares on the NYSE or NASDAQ following the proposed business combination; (7) the risk that the proposed business combination disrupts current plans and operations as a result of the announcement and consummation of the proposed business combination; (8) the ability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, competition, the ability of Wynn Interactive to grow and manage growth profitably, and retain its key employees; (9) costs related to the proposed business combination; (10) changes in applicable laws or regulations; and (11) the possibility that Austerlitz I or Wynn Interactive may be adversely affected by other economic, business, and/or competitive factors. The foregoing list of factors is not exclusive. Additional information concerning certain of these and other risk factors is contained in Austerlitz I’s most recent filings with the SEC and will be contained in the Form S-4, including the proxy statement/prospectus expected to be filed in connection with the proposed business combination. All subsequent written and oral forward-looking statements concerning Austerlitz I or Wynn Interactive, the transactions described herein or other matters and attributable to Austerlitz I or Wynn Interactive or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Each of Austerlitz I and Wynn Interactive expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based, except as required by law.

Contacts

For inquiries regarding Wynn Resorts and Wynn Interactive:

Investors
Vincent Zahn, Senior Vice President and Treasurer

702-770-7555

investorrelations@wynnresorts.com

Media
Michael Weaver, Chief Communications Officer

702-770-7777

michael.weaver@wynnlasvegas.com

For inquiries regarding Austerlitz Acquisition Corporation I:

Shannon Devine

Solebury Trout

sdevine@soleburytrout.com
203-428-3228

Deal will strengthen company’s network in New Jersey

SAN DIEGO — (BUSINESS WIRE) —  #caremanagement—Mitchell | Genex | Coventry, a leader in cost containment technology, provider networks, clinical services, pharmacy benefit management (PBM), and disability management, announced today it has entered into a definitive agreement to acquire QualCare Alliance Networks Inc. (QANI), one of the largest managed care organizations serving the New Jersey, Pennsylvania and New York tri-state area.

This acquisition allows Mitchell | Genex |Coventry to strengthen its position as a market leader in provider network access, care management and workers’ compensation services. QANI will become part of the Coventry organization, expanding its network footprint in that region.

“Both Coventry and QANI have proud traditions of maintaining excellent provider networks,” said Art Lynch, Coventry President. “Our long-standing relationship over the past decade confirms why QANI is a good fit for Coventry both from a geographic and talent acquisition perspective. This opportunity demonstrates the combined organizations’ commitment to deliver the right solutions to our clients in terms of market presence and product offerings.”

Headquartered in Piscataway and Egg Harbor Township, New Jersey, QANI, owned by Cigna Corp., contracts with over 100 acute, specialty and rehabilitation hospitals, as well as 40,000 professional providers. Additionally, QANI provides clinical management services that will complement similar programs offered by Coventry and Genex. Alice Herron Lihou, president of QANI, will continue in her role and report to Lynch. The transaction is subject to customary closing conditions.

About Mitchell | Genex | Coventry

Mitchell, Genex, and Coventry recently combined their joint industry expertise and advanced technology solutions into one organization to simplify and optimize property, casualty, and disability claims processes and services. Coventry offers workers’ compensation, auto and disability care and cost-management solutions for employers, insurance carriers and third-party administrators. With roots in both clinical and network services, Coventry leverages more than 40 years of industry experience, knowledge, and data analytics.

About QANI

QualCare Alliance Networks, Inc. (QANI) was founded in 1993 to serve as the parent organization to QualCare, Inc. and Qual-Lynx. QualCare provides Health and Workers’ Compensation Preferred Provider Network services to its clients, and Qual-Lynx, through its partnership with QualCare, offers full service Managed Care, Administrative, and Claims Management services for its Property and Casualty business. QANI is among New Jersey’s largest managed care organizations with a Preferred Provider Organization (PPO) comprised of over 100 acute, specialty and rehabilitation hospitals, as well as over 40,000 physicians and other ancillary providers across New Jersey, Pennsylvania and New York. For more information, visit www.qualcareinc.com.

Contacts

Barb Robinette

Coventry

barobinette@cvty.us.com
858-547-2528

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bbb+” of Talcott Resolution Life Insurance Company and Talcott Resolution Life and Annuity Insurance Company. These companies are domiciled in Windsor, CT, and collectively are referred to as Talcott Resolution Group (Talcott Resolution). Additionally, AM Best has affirmed the Long-Term ICR of “bbb-” of Talcott Resolution Life, Inc. (Delaware), along with its Long-Term Issue Credit Ratings (Long-Term IRs). The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the Long-Term IRs).

The ratings reflect Talcott Resolution’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

Talcott Resolution maintains the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), despite recent stockholder dividends, with good liquidity and a sufficient hedge program in place to protect statutory capital from any potential negative impacts due to equity and interest rate sensitivities within its core variable and fixed annuity businesses. Talcott Resolution’s variable annuity business continues to perform in line with reserve assumptions, despite some modest impacts to policyholder behavior caused by the COVID-19 pandemic. In addition, Talcott Resolution’s general account investment portfolio performed well over the past year with just minimal impairments and downward ratings migration as a result of the pandemic.

In January 2021, AM Best commented that the ratings of Talcott Resolution would remain unchanged following the announcement that Sixth Street, a leading global investment firm with over $50 billion in assets under management and committed capital, had entered into a definitive agreement to acquire the group from a consortium of investors. These investors are led by Cornell Capital LLC, Atlas Merchant Capital LLC, TRB Advisors LP, Global Atlantic Financial Group Limited, Pine Brook, J. Safra Group and The Hartford Financial Services Group, Inc. The transaction is expected to close before the end of the second quarter of 2021. AM Best believes that Talcott Resolution will continue to remain well-capitalized and will maintain its current business strategy of attempting to grow its platform by providing risk transfer solutions to the insurance industry through reinsurance or legal entity acquisitions.

The following Long-Term IRs have been affirmed with a stable outlook:

Talcott Resolution Life, Inc.—

— “bbb-” on $250 million 7.65% senior unsecured debentures, due 2027 (approximately $80 million outstanding)

— “bbb-” on $400 million 7.375% senior unsecured notes, due 2031 (approximately $63 million outstanding)

Hartford Life Institutional Funding—“bbb+” on program rating

— “bbb+” on outstanding notes issued under the program

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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

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

Michael Adams
Associate Director
+1 908 439 2200, ext. 5133
michael.adams@ambest.com

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

Thomas Rosendale
Senior Director
+1 908 439 2200, ext. 5201
thomas.rosendale@ambest.com

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

SHORT HILLS, N.J. — (BUSINESS WIRE) — Accelerate Acquisition Corp. (NYSE: AAQC.U) (the “Company”) announced that, commencing May 10, 2021, holders of the units sold in the Company’s initial public offering of 40,000,000 units, completed on March 22, 2021, may elect to separately trade the shares of Class A common stock and warrants included in the units. Any units not separated will continue to trade on the New York Stock Exchange (the “NYSE”) under the symbol “AAQC.U,” and the separated shares of Class A common stock and warrants are expected to trade on the NYSE under the symbols “AAQC” and “AAQC WS,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Unitholders will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into Class A ordinary shares and warrants.

 

The units were initially offered by the Company in an underwritten offering. UBS Investment Bank acted as sole book-running manager of the offering. A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission (the “SEC”) on March 17, 2021.

 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any 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 any such state or jurisdiction.

 

Cautionary Note Concerning Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated separation of the units into shares of Class A common stock and warrants. No assurance can be given that the units will be separated as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and final prospectus relating to the Company’s initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contacts

Company Contact:
Michael Simoff

Chief Operating Officer, Chief Financial Officer and Treasurer

msimoff@xlr8ac.com
(973) 314-3060

Media Contact:
Jonathan Gasthalter/Nathaniel Garnick

Gasthalter & Co.

(212) 257-4170

accelerate@gasthalter.com