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.
Fortress Value Acquisition Corp. III (NYSE: FVT) is seeking shareholder approval to redeem its Class A common stock for cash from its trust account before December 31, 2022, due to a low likelihood of securing a suitable merger partner before its January 7, 2023 expiration. The company has reviewed nearly 60 potential targets since its IPO but faced challenges including valuation disagreements and concerns about target companies' business models. Approximately $231.1 million is held in trust, allowing a return of about $10.04 per Public Share post-expenses.
Tailwind Acquisition Corp. (TWND) announced its plans to transfer its listing from the New York Stock Exchange to NYSE American, effective around October 12, 2022. This decision is influenced by favorable listing requirements on NYSE American. TWND will continue to provide periodic reports to the Securities and Exchange Commission (SEC) following the transfer. The company emphasizes its commitment to maintaining compliance with SEC regulations throughout this transition.
Nuburu has secured a Phase II contract from AFWERX to develop a blue laser-based 3D printing solution, enhancing military capabilities. The project aims to demonstrate a revolutionary 3D printer that achieves up to 100 times faster build speeds, improved accuracy, and matches full metal density with minimal post-processing. This innovation could significantly expedite the production of critical aircraft components, reducing downtime. Nuburu is leveraging its existing expertise in metal welding to expand into the aerospace and automotive markets, focusing on high throughput and cost-effective manufacturing.
Vicarious Surgical Inc. (NYSE: RBOT, RBOT WS) announced its participation in the Inaugural Gilmartin Group Emerging Growth Company Showcase, scheduled for August 31, 2022, at 11:30 am ET. The virtual event aims to highlight emerging growth companies. Vicarious Surgical focuses on enhancing surgical efficiency and patient outcomes through advanced robotic technology. A live webcast will be available through a provided link, with an archived version accessible on their investor website following the event.
Sky Harbour Group Corporation (SKYH, SKYH WS) announced its Q2 2022 financial results and ongoing developments in aviation infrastructure. The company secured a new ground lease at Addison Airport, Texas, and advanced construction projects at Nashville and Miami airports. A significant transaction reduced cash ground lease payments by an estimated $30 million. The company continues to accelerate its expansion plans, affirming its commitment to establishing a nationwide network of Home-Basing Solutions for business aircraft.
Volta reported a remarkable second quarter in 2022, with a 121% year-over-year revenue increase to $15.3 million. Media revenue also soared by 73% year-over-year to $11.2 million. The company added a record 372 charging stalls, achieving a total of 2,920 stalls, marking a 48% year-over-year growth. Volta announced partnerships with Kroger and major brands like Michelin and Lyft, enhancing its advertising capabilities. However, the company reported a net loss of $37.4 million, indicating a need for improved profitability.
Vicarious Surgical Inc. (NYSE: RBOT, RBOT WS) announced its Q2 2022 financial results, revealing a significant increase in operating expenses to $19.1 million, up from $6.6 million in Q2 2021. Adjusted net loss rose to $19.1 million, or $0.16 per share, compared to a loss of $6.6 million or $0.08 per share in the previous year. The company is advancing its Beta 2 system and partnering with UH Ventures and HCA Healthcare for surgical innovations. Cash burn rate for the quarter was $15.7 million. A conference call will be held today at 4:30 p.m. ET.
Energy Vault Holdings, Inc. (NYSE: NRGV, NRGV WS) has completed the redemption of all outstanding public warrants. This involved the redemption of 9,583,333 public warrants, where 682,948 were exercised for cash at $11.50 each, and 8,602,400 were exercised on a cashless basis for 2,172,854 shares of common stock. Approximately 96.7% of public warrants were exercised before the redemption. Following this, no public warrants remain, and trading was suspended on the NYSE. The company's private placement warrants remain outstanding.
Next.e.GO Mobile SE and Athena Consumer Acquisition Corp. have announced a definitive business combination, leading to e.GO's public listing on the New York Stock Exchange under the ticker EGOX. The transaction is expected to yield gross proceeds of approximately $285 million, aiding e.GO in ramping up production and expanding its MicroFactory capacity. e.GO’s unique production model focuses on affordability and convenience, with over 1,000 vehicles already deployed from its first MicroFactory in Germany. The pro forma enterprise value stands at $913 million.
Vicarious Surgical Inc. (NYSE: RBOT, RBOT WS) has announced its participation in the Canaccord Genuity 42nd Annual Growth Conference set for Wednesday, August 10 at 9:30 a.m. ET. A live webcast of the presentation will be available on the company’s website, with an archive for later viewing. Founded in 2014 and headquartered in Waltham, Massachusetts, Vicarious Surgical is pioneering robotic technology aimed at enhancing surgical efficiency and patient outcomes while reducing healthcare costs.