Worthington Steel, Inc. reports company news centered on value-added steel processing, quarterly and annual operating results, dividends, conference calls and corporate updates. Its business updates describe carbon flat-rolled steel processing, electrical steel laminations, tailor welded products and related capabilities such as galvanizing, pickling, configured blanking, specialty cold reduction and lightweighting.
Worthington Steel news also includes disclosures about material agreements, capital-structure matters and shareholder-related developments when they affect the company’s public reporting. The recurring news record reflects a NYSE-listed Ohio company with steel-processing operations across the United States and international markets.
On March 3, 2023, Local Bounti Corporation (NYSE: LOCL, WS) announced receipt of a notice from the New York Stock Exchange regarding non-compliance with continued listing standards due to an average stock price below $1.00 over 30 trading days. The Company has six months to regain compliance and plans to inform the NYSE of its intention to address this issue, potentially through a reverse stock split, pending stockholder approval. Notably, Local Bounti's stock will continue trading during this cure period if it meets other NYSE standards.
Live Oak Mobility Acquisition Corp. (NYSE: LOKM) announced its decision to redeem all outstanding shares of Class A common stock, effective March 20, 2023, as it failed to complete a business combination by the March 6 deadline. The redemption price will be based on the funds in its trust account, and the company's public shares will cease trading on March 7. Following the redemption, the company will wind down operations and file for delisting. The company will not redeem warrants, which will expire worthless. This marks a significant move towards dissolution after failing to secure a merger or acquisition.
Live Oak Mobility Acquisition Corp. (NYSE: LOKM) has cancelled its special meeting of stockholders that was scheduled for March 2, 2023. The company will withdraw proposals from its Definitive Proxy Statement, leading to the expected redemption of all outstanding Class A common stock sold during its IPO. This action is a result of failing to complete an initial business combination within the required time frame. Further details regarding the redemption process are anticipated to be announced soon.
Kaleyra, Inc. (NYSE: KLR, KLR WS) announced on February 28, 2023 that it has launched its global messaging services on Oracle Cloud Infrastructure (OCI). This strategic move aims to enhance innovation in the CPaaS sector and expand its services globally, particularly in the US, EU, UAE, and APAC regions across various industries, including fintech and healthcare. OCI's capabilities allow Kaleyra to provide personalized messaging at scale, thereby improving customer engagement. Kaleyra has partnered with Oracle since March 2022, managing billions of messages worldwide through its advanced communication platform.
Next.e.GO Mobile SE has signed a memorandum of understanding (MOU) with Trafigura Pte. Ltd. to establish a long-term supply chain management agreement, focusing on the supply of aluminum and battery metals including lithium, cobalt, and copper. Commencing in January 2024 and lasting at least five years, this collaboration aims to boost e.GO’s supply chain reliability and support its decentralized growth strategy. The partnership also includes provisions for a supply credit facility and emphasizes sustainability through carbon declaration via the Agora platform. This move is pivotal as e.GO prepares for its upcoming business combination with Athena Consumer Acquisition Corp. (NYSE: ACAQ).
Vicarious Surgical Inc. (NYSE: RBOT, RBOT WS) has announced its participation in two upcoming investor conferences. The company aims to enhance surgical procedures through innovative robotics technology.
The first event is the Cowen 43rd Annual Healthcare Conference, featuring a fireside chat on March 8th at 9:50 a.m. ET. The second is the Oppenheimer 33rd Annual Healthcare Conference, with a virtual presentation scheduled for March 14th at 1:20 p.m. ET. Live and archived versions of these presentations will be available on the company's website.
Kaleyra reported record revenues of $93.7 million for Q4 2022, a growth of 4.1% year-over-year, leading to a full-year total of $339.2 million, up 27% YoY. The company announced the implementation of a 2023 restructuring and cost reduction program aimed at reducing cash payroll costs by over 15%.
Despite the revenue growth, Kaleyra experienced a net loss of $57.8 million in Q4 due to a significant impairment loss on intangible assets. The gross profit also decreased to $17 million, reflecting higher customer onboarding costs.
Vicarious Surgical reported a cash burn of $67 million for 2022, meeting its objective, and announced initiatives to extend its cash runway. The company expects 2023 cash burn between $55-$65 million. Vicarious Surgical's operating expenses surged to $80.1 million in 2022 versus $38.2 million in 2021, with an adjusted net loss of $78.8 million, or $0.65 per share. Despite a GAAP net income of $5.2 million for the year, the company reported significant losses. Notable achievements include the completion of the Beta 2 robotic system and partnerships with major healthcare providers, enhancing its market position.
Kaleyra, Inc. (NYSE: KLR, KLR WS) will announce its Q4 and full-year 2022 financial results on February 15, 2023, at 4:30 PM ET. The call will be hosted by CEO Dario Calogero, CFO Giacomo Dall'Aglio, and Investor Relations VP Colin Gillis, featuring a presentation followed by a Q&A session. Interested parties can join the call by dialing 1-855-327-6837 (US) or 1-631-891-4304 (international) ten minutes before the start. A replay will be available post-call until February 22, 2023, via toll-free number 1-844-512-2921. Kaleyra provides CPaaS services to diverse sectors globally, managing vast messaging traffic securely.
Tailwind Acquisition Corp. (NYSE American: TWND, TWND.U, TWND WS) has completed its business combination with NUBURU, Inc., an innovator in industrial blue laser technology. NUBURU is now publicly listed, with its stock trading under the ticker 'BURU' starting February 1, 2023. The CEO of NUBURU, Dr. Mark Zediker, expressed optimism about gaining capital access and accelerating product development. The combined entity aims to strengthen its market position in sectors such as 3D printing and aerospace, highlighting innovations like the new BL-series blue lasers showcased at Photonics West.