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PennantPark Floating Rate Capital Ltd. Closes New Securitization, Substantially Lowering Borrowing Costs - ForexTV

MIAMI, Feb. 21, 2025 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the “Company”) (NYSE: PFLT) today announced that it completed a $474.6 million term debt securitization transaction with a four-year reinvestment period, twelve-year final maturity in the form of a collateralized loan obligation (“CLO”). The debt issued in this securitization transaction (the “ Debt”) is structured in the following manner: ClassPar Amount($ in millions)% of Capital StructureCouponExpected Rating(S&P)Issuance PriceA-1L-A Loans$10,000,0002.1%3 Mo SOFR + 1.49%AAA100.0%A-1L-B Loans 45,000,0009.5%3 Mo SOFR + 1.49%AAA100.0%A-1 Notes 220,500,00046.5%3 Mo SOFR + 1.49%AAA100.0%A-2 Notes 19,000,0004.0%3 Mo SOFR + 1.60%AAA100.0%B Notes 28,500,0006.0%3 Mo SOFR + 1.75%AA100.0%C Notes 38,000,0008.0%3 Mo SOFR + 2.20%A100.0%D Notes 28,500,0006.0%         RetainedBBB-100.0%Subordinated Notes 85,100,00017.9% NRNATotal$474,600,000      “We are delighted to close on the lowest spread debt financing in PFLT’s 14-year history, which will support the Company’s growth and net investment income. The weighted average spread of 159 basis points on $361 million of financing is a 66-basis point reduction from the bank facility this capital is replacing. We are also thrilled about the continued momentum and positive market recognition that our senior lending strategy has received, which is demonstrative of our industry-leading team as well as the merits of our disciplined and differentiated approach to core middle market credit investing,” said Arthur Penn, Chief Executive Officer. “We are proud to have onboarded several new investors into our securitization liabilities as part of this transaction and now have over 75 unique investors across our securitization platform. With their support, we were able to issue our largest securitization to date while also achieving our lowest cost of capital to date. Together, these attributes will continue to enable and further enhance PFLT’s ability to offer attractive risk-adjusted returns to its investors. With the closing of its eleventh securitization, PennantPark Investment Advisers, LLC currently manages approximately $3.7 billion in CLO assets, and we look forward to continued growth with the support of our current and new investors.” PFLT will continue to retain the Class D Notes and the Subordinated Notes. The reinvestment period for the term debt securitization ends no later than April 2029 and the Debt is scheduled to mature in April 2037. The term debt securitization is expected to be approximately 100% funded at close. In addition, the Company acts as retention holder in the transaction to retain exposure to the performance of the securitized assets. GreensLedge Capital Markets LLC acted as lead placement agent on the CLO transaction. The notes offered as part of the term debt securitization have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state “blue sky” laws, and may not be offered or sold in the United States absent registration under Section 5 of the Securities Act or an applicable exemption from such registration requirements. The CLO is a form of secured financing incurred and consolidated by the Company. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the notes 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. ABOUT PENNANTPARK FLOATING RATE CAPITAL LTD. PennantPark Floating Rate Capital Ltd. is a business development company which primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans, including first lien secured debt, second lien secured debt and subordinated debt. From time to time, the Company may also invest in equity investments. PennantPark Floating Rate Capital Ltd. is managed by PennantPark Investment Advisers, LLC. ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC PennantPark Investment Advisers, LLC is a leading middle-market credit platform, managing approximately $9.5 billion of investable capital, including available leverage. Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors access to middle-market credit by offering private equity firms and their portfolio companies as well as other middle-market borrowers a comprehensive range of creative and flexible financing solutions. PennantPark Investment Advisers, LLC is headquartered in Miami and has offices in New York, Chicago, Houston, Los Angeles, and Amsterdam. FORWARD-LOOKING STATEMENTS This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You should understand that under Section 27A(b)(2)(B) of the Securities Act and Section 21E(b)(2)(B) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 do not apply to forward-looking statements made in periodic reports PennantPark Floating Rate Capital Ltd. files under the Exchange Act. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. PennantPark Floating Rate Capital Ltd. undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made. CONTACT:Richard T. Allorto, Jr.PennantPark Floating Rate Capital Ltd. (212) 905-1000www.pennantpark.com Source: PennantPark Floating Rate Capital Ltd.

STEALTHGAS INC. Reports Fourth Quarter and Twelve Months 2024 Financial and Operating Results - ForexTV

ATHENS, Greece, Feb. 21, 2025 (GLOBE NEWSWIRE) -- STEALTHGAS INC. (NASDAQ: GASS), a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today its unaudited financial and operating results for the fourth quarter and twelve months ended December 31, 2024. OPERATIONAL AND FINANCIAL HIGHLIGHTS All-time record Net Income of $69.9 million for the twelve month period of 2024, a 34.7% increase compared to the same period last year. Strong profitability continued for the fourth quarter, with Net income of $14.2 million corresponding to a basic EPS of $0.38.Revenues increased by 27.3% compared to the same period of last year to $43.5 million for the fourth quarter of 2024.Further increased period coverage. About 70% of fleet days for 2025 are secured on period charters, with total fleet employment days for all subsequent periods generating over $200 million (excl. JV vessels) in contracted revenues.Continued reducing leverage, making $108.2 million in debt repayments during the twelve month period of 2024 and $34.4 million in the current quarter of 2025. Currently, 26 out of 28 vessels in the fully owned fleet are unencumbered.Maintaining ample cash and cash equivalents (incl. restricted cash) of $84.5 million as of December 31, 2024 enabling the Company to further reduce debt. Fourth Quarter 2024 Results1: Revenues for the three months ended December 31, 2024 amounted to $43.5 million compared to revenues of $34.1 million for the three months ended December 31, 2023, based on an average of 27.6 vessels and 27.0 vessels owned by the Company, respectively, as the vessels remaining in the fleet earned higher revenues due to better market conditions.Voyage expenses and vessels’ operating expenses for the three months ended December 31, 2024 were $3.2 million and $13.6 million, respectively, compared to $3.3 million and $12.9 million, respectively, for the three months ended December 31, 2023. The $0.7 million increase in vessels’ operating expenses was mainly due to increase in crew costs and maintenance expenses, while the voyage expenses remained stable between 2024 and 2023.Drydocking costs for the three months ended December 31, 2024 and 2023 were $1.9 million and $0.03 million, respectively. Drydocking expenses during the fourth quarter of 2024 mainly relate to the completed drydocking of three vessels, compared to no drydocking of vessels in the same period of last year.General and administrative expenses for the three months ended December 31, 2024 and 2023 were $3.0 million and $1.7 million, respectively. The change is mainly attributed to the increase in stock-based compensation expense.Depreciation for the three months ended December 31, 2024 and 2023 was $6.6 million and $5.6 million, respectively, a $1.0 million increase is mainly related to the increase in average number of vessels owned by the Company and to the partial replacement of some of the older vessels with newer and larger ones which have a higher cost.Interest and finance costs for the three months ended December 31, 2024 and 2023, were $1.4 million and $2.3 million, respectively. The $0.9 million decrease from the same period of last year is primarily due to continued debt prepayments.Interest income for the three months ended December 31, 2024 and 2023, were $1.1 million and $1.0 million, respectively.Equity earnings in joint ventures for the three months ended December 31, 2024 and 2023 was a gain of $0.5 million and $0.9 million, respectively. The $0.4 million decrease was primarily due to decrease in number of vessels in joint ventures.As a result of the above, for the three months ended December 31, 2024, the Company reported net income of $14.2 million, compared to net income of $8.9 million for the three months ended December 31, 2023. The weighted average number of shares outstanding, basic, for the three months ended December 31, 2024 and 2023 was 35.3 million and 35.3 million, respectively.Earnings per share, basic, for the three months ended December 31, 2024 amounted to $0.38 compared to earnings per share, basic, of $0.25 for the same period of last year.Adjusted net income was $16.4 million corresponding to an Adjusted EPS, basic, of $0.44 for the three months ended December 31, 2024 compared to Adjusted net income of $10.3 million corresponding to an Adjusted EPS, basic, of $0.29 for the same period of last year.EBITDA for the three months ended December 31, 2024 amounted to $21.2 million. Reconciliations of Adjusted Net Income, EBITDA and Adjusted EBITDA to Net Income are set forth below.An average of 27.6 vessels were owned by the Company during the three months ended December 31, 2024 compared to 27.0 vessels for the same period of 2023. Twelve months 2024 Results: Revenues for the twelve months ended December 31, 2024, amounted to $167.3 million, an increase of $23.8 million, or 16.6%, compared to revenues of $143.5 million for the twelve months ended December 31, 2023, as the vessels remaining in the fleet earned higher revenues due to better market conditions.Voyage expenses and vessels’ operating expenses for the twelve months ended December 31, 2024 were $11.7 million and $49.8 million, respectively, compared to $13.2 million and $53.1 million for the twelve months ended December 31, 2023. The $1.5 million decrease in voyage expenses was mainly due to the decrease in spot days, while the $3.3 million decrease in vessels’ operating expenses was mainly due to the decrease in the average number of owned vessels in our fleet.Drydocking costs for the twelve months ended December 31, 2024 and 2023 were $5.3 million and $2.6 million, respectively. The costs for the twelve months ended December 31, 2024 mainly related to the completed drydocking of seven vessels, while the costs for the same period of last year mainly related to the completed drydocking of three of the larger handysize vessels.General and administrative expenses for the twelve months ended December 31, 2024 and 2023 were $10.3 million and $5.3 million, respectively. The change is mainly attributed to the increase in stock-based compensation expense.Depreciation for the twelve months ended December 31, 2024, was $26.1 million, a $2.4 million increase from $23.7 million for the same period of last year, as the Company partly replaced some of the older vessels with newer and larger vessels which have a higher cost.Impairment loss for the twelve months ended December 31, 2024 and 2023 was nil and $2.8 million, respectively. The impairment loss for the year ended December 31, 2023, related to two vessels for which the Company had entered into separate agreements to sell to third parties.Gain on sale of vessels for the twelve months ended December 31, 2024 was $0.05 million compared to $7.6 million for the same period last year. The decrease is attributed to the sale of four of the Company’s vessels during the twelve months ended December 31, 2023 compared to the sale of two vessels during the twelve months ended December 31, 2024, which had been classified as held for sale as of December 31, 2023.Interest and finance costs for the twelve months ended December 31, 2024 and 2023 were $9.1 million and $10.0 million, respectively. The $0.9 million decrease from last year is primarily due to continued debt prepayments.Interest income for the twelve months ended December 31, 2024 and 2023 was $3.4 million and $3.7 million, respectively. The $0.3 million decrease is mainly attributed to decrease in interest rates and over the corresponding period.Equity earnings in joint ventures for the twelve months ended December 31, 2024 and 2023 was a gain of $15.6 million and a gain of $12.3 million, respectively. The $3.3 million increase from the same period of last year is mainly due to a profitable sale of one of the Medium Gas carriers owned by one of our joint ventures.As a result of the above, the Company reported a net income for the twelve months ended December 31, 2024 of $69.9 million, compared to a net income of $51.9 million for the twelve months ended December 31, 2023. The weighted average number of shares outstanding, basic, for the twelve months ended December 31, 2024 and 2023 was 35.2 million and 37.2 million, respectively.Earnings per share, basic, for the twelve months ended December 31, 2024 amounted to $1.91 compared to earnings per share, basic, of $1.38 for the same period of last year.Adjusted net income was $77.3 million, corresponding to an Adjusted EPS, basic, of $2.11 per share, for the twelve months ended December 31, 2024 compared to adjusted net income of $50.5 million, or $1.34 per share, for the same period of last year.EBITDA for the twelve months ended December 31, 2024 amounted to $101.6 million. Reconciliations of Adjusted Net Income, EBITDA and Adjusted EBITDA to Net Income are set forth below.An average of 27.2 vessels were owned by the Company during the twelve months ended December 31, 2024, compared to 29.3 vessels for the same period of 2023.As of December 31, 2024, cash and cash equivalents (including restricted cash) amounted to $84.5 million and total debt amounted to $84.9 million.1  EBITDA, Adjusted EBITDA, Adjusted Net Income and Adjusted EPS are non-GAAP measures. Refer to the reconciliation of these measures to the most directly comparable financial measure in accordance with GAAP set forth later in this release. Fleet Update Since Previous Announcement The Company announced the conclusion of the following chartering arrangements (of three or more months duration):   A twelve months time charter for its 2024 built LPG carrier Eco Wizard, until Dec 2025.A twelve months time charter for its 2020 built LPG carrier Eco Alice, until Feb 2026.A twelve months time charter for the JV-owned 2007 built LPG carrier Gas Haralambos, until Dec 2025.A three months time charter for the 2012 built LPG carrier Gas Husky, until April 2025. As of February 2025, the Company has total contracted revenues of approximately $200 million. As of February 2025, the Company has circa 70% of fleet days secured under period contracts and contracted revenues of approximately $107 million for the remainder of the year. On January 21, 2025, the previously announced sale of the Gas Shuriken was concluded and the vessel was delivered to its new owners. Share Repurchase Program Increase Today the Board of Directors authorized a $5 million increase to the existing $25 million common stock repurchase program for a total aggregate amount of $30 million. Shares of common stock may be purchased, from time to time, in open market or privately negotiated transactions, at times and prices that are considered to be appropriate by the Company, and the program may be suspended or discontinued at any time. As of the date hereof, the Company has repurchased an aggregate of approximately $19.4 million. CEO Harry Vafias Commented It is with great pride that we announce today for the third consecutive year record annual profits. After a successful fourth quarter we concluded 2024 reporting net income of $70 million for the year, a 35% increase, far outpacing the underlying market improvement for our vessels. We are delivering on our strategic priorities, modernizing the fleet, securing revenues and de-risking the business, aiming to bring strong value to StealthGas shareholders. We can now say we are net debt free, after having further reduced our debt in the current quarter. We are close to completing our deleverage that will bring a long term advantage to the fleet and the Company is in a solid footing. As successful as we have been we are established in the shipping markets long enough not to forget that we operate in a volatile sector where fortunes can be made and lost quite rapidly. We are optimistic for the future albeit evermore cautiously not least because the current global geopolitics that can have a strong influence on shipping markets are for the time being quite opaque with too many developing situations. Finally, in order to give further value back to our shareholders, we are renewing our share repurchases and increasing up to $10.5 million the amount available to us for this task.  Conference Call details: On February 21, 2025 at 10:00 am ET, the company’s management will host a conference call to discuss the results and the company’s operations and outlook. Conference call participants should pre-register using the below link to receive the dial-in numbers and a personal PIN, which are required to access the conference call. https://register.vevent.com/register/BIa607c71e1abf4ac08816dfc43bd8d733 Slides and audio webcast: There will also be a live and then archived webcast of the conference call, through the STEALTHGAS INC. website (www.stealthgas.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. About STEALTHGAS INC. StealthGas Inc. is a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry. StealthGas Inc. has a fleet of 31 LPG carriers, including three Joint Venture vessels in the water. These LPG vessels have a total capacity of 349,170 cubic meters (cbm). StealthGas Inc.’s shares are listed on the Nasdaq Global Select Market and trade under the symbol “GASS.” Visit our website at www.stealthgas.com Forward-Looking Statements Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although STEALTHGAS INC. believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, STEALTHGAS INC. cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydockings, shipyard performance, changes in STEALTHGAS INC’s operating expenses, including bunker prices, drydocking and insurance costs, ability to obtain financing and comply with covenants in our financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, the conflict in Ukraine and related sanctions, the conflict in Israel and Gaza, potential disruption of shipping routes due to ongoing attacks by Houthis in the Red Sea and Gulf of Aden or  accidents and political events or acts by terrorists. Risks and uncertainties are further described in reports filed by STEALTHGAS INC. with the U.S. Securities and Exchange Commission. Fleet List         For information on our fleet and further information: Visit our website at www.stealthgas.com Fleet Data: The following key indicators highlight the Company’s operating performance during the periods ended December 31, 2023 and 2024. FLEET DATAQ4 2023 Q4 2024 12M 2023 12M 2024 Average number of vessels (1)27.0 27.6 29.3 27.2 Period end number of owned vessels in fleet27 28 27 28 Total calendar days for fleet (2)2,484 2,542 10,698 9,944 Total voyage days for fleet (3)2,441 2,446 10,566 9,677 Fleet utilization (4)98.3%96.2%98.8%97.3%Total charter days for fleet (5)2,207 2,265 9,544 8,930 Total spot market days for fleet (6)234 181 1,022 747 Fleet operational utilization (7)96.8%95.0%96.6%95.4%          1) Average number of vessels is the number of owned vessels that constituted our fleet for the relevant period, as measured by the sum of the number of days each vessel was a part of our fleet during the period divided by the number of calendar days in that period. 2) Total calendar days for fleet are the total days the vessels we operated were in our possession for the relevant period including off-hire days associated with major repairs, drydockings or special or intermediate surveys. 3) Total voyage days for fleet reflect the total days the vessels we operated were in our possession for the relevant period net of off-hire days associated with major repairs, drydockings or special or intermediate surveys. 4) Fleet utilization is the percentage of time that our vessels were available for revenue generating voyage days, and is determined by dividing voyage days by fleet calendar days for the relevant period. 5) Total charter days for fleet are the number of voyage days the vessels operated on time or bareboat charters for the relevant period. 6) Total spot market charter days for fleet are the number of voyage days the vessels operated on spot market charters for the relevant period. 7) Fleet operational utilization is the percentage of time that our vessels generated revenue, and is determined by dividing voyage days excluding commercially idle days by fleet calendar days for the relevant period. Reconciliation of Adjusted Net Income, EBITDA, adjusted EBITDA and adjusted EPS: Adjusted net income represents net income before loss/gain on derivatives excluding swap interest paid/received, impairment loss, net gain/loss on sale of vessels and share based compensation. EBITDA represents net income before interest and finance costs, interest income and depreciation. Adjusted EBITDA represents net income before interest and finance costs, interest income, depreciation, impairment loss, net gain/loss on sale of vessels, share based compensation and loss/gain on derivatives. Adjusted EPS represents Adjusted net income divided by the weighted average number of shares. EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS are included herein because they are a basis, upon which we and our investors assess our financial performance. They allow us to present our performance from period to period on a comparable basis and provide investors with a means of better evaluating and understanding our operating performance. EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS are not recognized measurements under U.S. GAAP. Our calculation of EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS may not be comparable to that reported by other companies in the shipping or other industries. In evaluating Adjusted EBITDA, Adjusted net income and Adjusted EPS, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in this presentation. (Expressed in United States Dollars, except number of shares)Fourth Quarter Ended December 31st,Twelve months Periods Ended December 31st, 2023202420232024Net Income - Adjusted Net Income    Net income8,889,046 14,198,527 51,936,829 69,862,177 Plus/(Less) loss/(gain) on derivatives255,736 -- (237,618)(99,286)(Less)/Plus swap interest (paid)/received216,432 -- 1,027,127 208,127 (Less)/Plus (gain)/loss on sale of vessels, net-- -- (7,645,781)(46,384)Plus impairment loss-- -- 2,816,873 -- Plus share based compensation940,216 2,206,295 2,589,405 7,326,807 Adjusted Net Income10,301,430 16,404,822 50,486,835 77,251,441      Net income – EBITDA    Net income8,889,046 14,198,527 51,936,829 69,862,177 Plus interest and finance costs2,344,430 1,425,886 9,956,712 9,062,562 Less interest income(952,287)(1,052,786)(3,712,239)(3,416,221)Plus depreciation5,565,955 6,598,549 23,707,797 26,076,687 EBITDA15,847,144 21,170,176 81,889,099 101,585,205      Net income - Adjusted EBITDA    Net income8,889,046 14,198,527 51,936,829 69,862,177 Plus/(Less) loss/(gain) on derivatives255,736 -- (237,618)(99,286)(Less)/Plus (gain)/loss on sale of vessels, net-- -- (7,645,781)(46,384)Plus impairment loss-- -- 2,816,873 -- Plus share based compensation940,216 2,206,295 2,589,405 7,326,807 Plus interest and finance costs2,344,430 1,425,886 9,956,712 9,062,562 Less interest income(952,287)(1,052,786)(3,712,239)(3,416,221)Plus depreciation5,565,955 6,598,549 23,707,797 26,076,687 Adjusted EBITDA17,043,096 23,376,471 79,411,978 108,766,342      EPS - Adjusted EPS    Net income8,889,046 14,198,527 51,936,829 69,862,177 Adjusted net income10,301,430 16,404,822 50,486,835 77,251,441 Weighted average number of shares, basic35,300,965 35,345,251 37,166,449 35,237,059 EPS - Basic 0.25 0.38 1.38 1.91 Adjusted EPS – Basic0.29 0.44 1.34 2.11   StealthGas Inc. Unaudited Condensed Consolidated Statements of Income (Expressed in United States Dollars, except for number of shares) Quarters Ended December 31, Twelve month Periods Ended December 31, 2023 2024 2023 2024      Revenues       Revenues34,139,248  43,467,117  143,527,769  167,262,185         Expenses       Voyage expenses2,878,732  2,679,927  11,429,716  9,594,880 Voyage expenses - related party426,108  535,991  1,779,488  2,063,228 Vessels' operating expenses12,690,873  13,404,725  52,206,248  48,961,137 Vessels' operating expenses - related party207,500  212,500  911,250  875,002 Drydocking costs27,696  1,855,672  2,641,706  5,312,614 Management fees - related party1,048,800  1,089,040  4,531,920  4,258,240 General and administrative expenses1,657,671  3,010,733  5,331,029  10,309,693 Depreciation5,565,955  6,598,549  23,707,797  26,076,687 Impairment loss--  --  2,816,873  -- Net gain on sale of vessels--  --  (7,645,781) (46,384)Total expenses24,503,335  29,387,137  97,710,246  107,405,097         Income from operations9,635,913  14,079,980  45,817,523  59,857,088         Other (expenses)/income       Interest and finance costs(2,344,430) (1,425,886) (9,956,712) (9,062,562)(Loss)/gain on derivatives(255,736) --  237,618  99,286 Interest income952,287  1,052,786  3,712,239  3,416,221 Foreign exchange (loss)/gain(27,829) 25,598  (190,722) (70,692)Other expenses, net(1,675,708) (347,502) (6,197,577) (5,617,747)        Income before equity in earnings of investees7,960,205  13,732,478  39,619,946  54,239,341 Equity earnings in joint ventures928,841  466,049  12,316,883  15,622,836 Net Income8,889,046  14,198,527  51,936,829  69,862,177         Earnings per share        - Basic0.25  0.38  1.38  1.91 - Diluted0.25  0.38  1.37  1.90         Weighted average number of shares        - Basic35,300,965  35,345,251  37,166,449  35,237,059 - Diluted35,430,883  35,409,350  37,236,951  35,333,160   StealthGas Inc. Unaudited Condensed Consolidated Balance Sheets (Expressed in United States Dollars) December 31, December 31,  2023 2024      Assets    Current assets    Cash and cash equivalents77,202,843  80,653,398 Trade and other receivables4,506,741  6,156,300 Other current assets130,589  193,265 Claims receivable55,475  55,475 Inventories1,979,683  3,891,147 Advances and prepayments1,409,418  733,190 Restricted cash659,137  -- Assets held for sale34,879,925  -- Fair value of derivatives--  387,630 Total current assets120,823,811  92,070,405      Non current assets    Advances for vessel acquisitions23,414,570  -- Operating lease right-of-use assets99,379  -- Vessels, net504,295,083  608,214,416 Other receivables48,040  370,053 Restricted cash5,893,721  3,867,752 Investments in joint ventures39,671,603  27,717,238 Deferred finance charges1,105,790  -- Fair value of derivatives1,858,677  -- Total non current assets576,386,863  640,169,459 Total assets697,210,674  732,239,864      Liabilities and Stockholders' Equity    Current liabilities    Payable to related parties955,567  388,130 Trade accounts payable9,953,137  10,994,434 Accrued liabilities5,681,144  4,922,587 Operating lease liabilities71,173  -- Deferred income5,386,126  4,304,667 Current portion of long-term debt16,624,473  23,333,814 Total current liabilities38,671,620  43,943,632      Non current liabilities    Operating lease liabilities28,206  -- Deferred income1,928,712  213,563 Long-term debt106,918,176  61,555,855 Total non current liabilities108,875,094  61,769,418 Total liabilities147,546,713  105,713,050      Commitments and contingencies         Stockholders' equity    Capital stock453,434  370,414 Treasury stock(44,453,836) -- Additional paid-in capital446,938,868  409,912,934 Retained earnings145,993,681  215,855,858 Accumulated other comprehensive income731,814  387,608 Total stockholders' equity549,663,961  626,526,814 Total liabilities and stockholders' equity697,210,674  732,239,864   StealthGas Inc. Unaudited Condensed Consolidated Statements of Cash Flows (Expressed in United States Dollars)  Twelve month Periods EndedDecember 31, 2023 2024  Cash flows from operating activities   Net income for the year51,936,829  69,862,177     Adjustments to reconcile net income to net cash    provided by operating activities:   Depreciation23,707,797  26,076,687 Amortization of deferred finance charges1,345,941  711,378 Amortization of operating lease right-of-use assets99,379  99,379 Share based compensation2,589,405  7,326,807 Change in fair value of derivatives789,509  108,841 Proceeds from disposal of interest rate swaps--  1,018,000 Equity earnings in joint ventures(12,316,883) (15,622,836)Dividends received from joint ventures14,589,215  20,570,036 Impairment loss2,816,873  -- Gain on sale of vessels(7,645,781) (46,384)Changes in operating assets and liabilities:   (Increase)/decrease in   Trade and other receivables238,627  (1,971,610)Other current assets139,925  (62,676)Inventories1,365,189  (1,664,736)Changes in operating lease liabilities(99,379) (99,379)Advances and prepayments(728,005) 676,228 Increase/(decrease) in   Balances with related parties(1,532,943) (555,589)Trade accounts payable(1,813,377) 628,898 Accrued liabilities(100,515) (758,558)Deferred income2,058,409  (2,796,608)Net cash provided by operating activities77,440,215  103,500,055     Cash flows from investing activities   Insurance proceeds126,666  -- Proceeds from sale of vessels, net80,109,781  34,679,584 Acquisition and improvements of vessels(85,201) (106,169,013)Maturity of short term investments26,500,000  -- Return of investments from joint ventures4,688,785  7,007,164 Net cash provided by/(used in) investing activities111,340,031  (64,482,265)    Cash flows from financing activities   Proceeds from exercise of stock options747,500  356,250 Stock repurchase(19,080,455) (338,176)Deferred finance charges paid(988,166) (22,167)Advances from joint ventures11,847  -- Advances to joint ventures--  (11,847)Loan repayments(154,870,215) (108,236,401)Proceeds from long-term debt--  70,000,000 Net cash used in financing activities(174,179,489) (38,252,341)    Net increase in cash, cash equivalents and restricted cash14,600,757  765,449 Cash, cash equivalents and restricted cash at beginning of period69,154,944  83,755,701 Cash, cash equivalents and restricted cash at end of year83,755,701  84,521,150 Cash breakdown   Cash and cash equivalents77,202,843  80,653,398 Restricted cash, current659,137  -- Restricted cash, non current5,893,721  3,867,752 Total cash, cash equivalents and restricted cash shown in the statements of cash flows83,755,701  84,521,150 CONTACT: Company Contact: Konstantinos Sistovaris STEALTHGAS INC. 00-30-210-6250-001 E-mail: info@stealthgas.com

SRS Real Estate Partners Expands Industrial Platform with Strategic Hires in Phoenix and Southern California - ForexTV

Jeffrey Garza Walker, SRS Industrial Jeffrey Garza Walkers joins SRS Real Estate Partners to lead Phoenix industrial team. Garza Walker is joined by Anna Sepic and Brenda Walker to round out the Phoenix industrial team. James deRegt, SRS Industrial James deRegt joins SRS Real Estate Partners along with Nick Krakower and RJ Dumke to lead industrial services for SRS in Southern California. Dallas, TX, Feb. 21, 2025 (GLOBE NEWSWIRE) -- SRS Real Estate Partners announces a major expansion of its industrial services platform with the addition of six industry professionals across its Phoenix and Southern California offices. “Our dedication to expanding our industrial platform has never been stronger, as we continue to recruit top talent nationwide,” said SRS President Garrett Colburn. “These significant additions will enhance the platform in two key markets while continuing to elevate our client-first approach.” Phoenix Expansion As Executive Vice President & Managing Principal, Jeffrey Garza Walker will lead the expansion of SRS’ industrial platform to Phoenix. Garza Walker brings 20 years of experience specializing in industrial advisory, investment sales, and cross-border transactions. His expertise includes tenant/landlord representation in Metro Phoenix and across the U.S., as well as investor and corporate occupier services in Mexico and Latin America. Prior to SRS, Garza Walker was an executive managing director at NAI Global and also served in a corporate management role with APL Logistics, Ltd. Joining Garza Walker from NAI Horizon are Anna Sepic as Senior Vice President and Brenda Walker as Senior Client Services Associate. Sepic brings over 10 years of commercial real estate experience and specializes in buyer representation with an emphasis on owner-user and industrial land development. Southern California Expansion James deRegt joins SRS as Senior Vice President in the Newport Beach office. Formerly with Lee & Associates, deRegt has over 30 years of industry experience and more than $1 billion in the acquisition, disposition and development of industrial real estate. He specializes in industrial brokerage and investments in Orange, San Bernardino, and Riverside Counties and has developed over a million square feet of industrial product over the last decade. Joining deRegt from Lee & Associates, Nick Krakower has been named Senior Vice President and RJ Dumke is an Associate. Krakower specializes in the acquisition, disposition, and leasing of industrial properties in the Orange County, Inland Empire and Mid Counties markets. "Our expansion in Phoenix and Southern California is strengthening our national platform and creating opportunities in other key industrial markets like Chicago and New Jersey," said Brant Landry, Managing Principal of SRS Industrial. "This talented group of industry veterans is a key part of that growth and will be a game-changer for our clients." About SRS Real Estate Partners Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com. Attachments Jeffrey Garza Walker, SRS Industrial James deRegt, SRS Industrial CONTACT: Tracy Cobb SRS Real Estate Partners 2145618824 tracy.cobb@srsre.com

Singular Genomics Announces Closing of Acquisition by Deerfield Management - ForexTV

SAN DIEGO, Feb. 21, 2025 (GLOBE NEWSWIRE) -- Singular Genomics Systems, Inc. (Nasdaq: OMIC), a company leveraging novel next-generation sequencing (NGS) and spatial multiomics technologies to empower researchers and clinicians, announced today the closing of its acquisition by an affiliate of Deerfield Management Company, L.P.    On December 23, 2024, Singular Genomics announced that Deerfield had signed a definitive agreement to acquire all of the outstanding shares of Singular Genomics common stock not currently owned by Deerfield for $20.00 per share in cash. Following the satisfaction of customary conditions, including a vote of the holders of Singular Genomics’ common stock to approve the transaction, which occurred on February 19, 2025, the transaction has now closed. Effective as of closing, Singular Genomics now operates as a private company, which the Singular Board of Directors believes will provide the Company with greater flexibility to continue advancing its business strategy. Trading of Singular Genomics’ common stock has been suspended on Nasdaq and Singular Genomics has requested that its common stock be delisted from Nasdaq. Pursuant to the transaction, Josh Stahl has been appointed to lead Singular Genomics as Chief Executive Officer and will join the company’s Board of Directors. Jason Myers will also join the Board. Drew Spaventa, co-founder of Singular Genomics and the company’s previous Chief Executive Officer and Chairman, will continue to serve on the Board and assume an additional role as special advisor to the CEO. “We are pleased to support Singular Genomics during this important transition,” said Andrew ElBardissi, M.D., Partner at Deerfield. “We look forward to this new direction for the company and its technology as Singular continues its work to provide physicians and scientists with crucial sequencing and multiomics information.” AdvisorsTD Securities and Houlihan Lokey served as financial advisors to the Special Committee of the Singular Genomics Board of Directors, Gunderson Dettmer, LLP served as legal advisor to Singular Genomics, and Richards, Layton & Finger, P.A. served as counsel to the Special Committee of the Singular Genomics Board of Directors. Katten Muchin Rosenman LLP served as legal advisor to Deerfield. About Singular Singular Genomics is a life science technology company that develops next-generation sequencing and multiomics technologies. The commercially available G4® Sequencing Platform is a powerful, highly versatile benchtop genomic sequencer designed to produce fast and accurate results. In addition, the Company is currently developing the G4X™ Spatial Sequencer, which will leverage its proprietary sequencing technology, applying it as an in situ readout for transcriptomics, proteomics and fluorescent H&E in tissue, with spatial context and on the same platform as the G4. Singular Genomics’ mission is to empower researchers and clinicians to advance science and medicine. Visit www.singulargenomics.com for more information. About DeerfieldDeerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy. The firm works across the healthcare ecosystem to connect people, capital, ideas and technology in bold, collaborative and inclusive ways. For more information, visit www.deerfield.com. Forward-looking StatementsCertain statements contained in this press release, other than historical information, constitute forward-looking statements within the meaning of the federal securities laws. In some cases, forward-looking statements can be identified by terms such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “foresees,” “forecasts,” “guidance,” “intends” “goals,” “may,” “might,” “outlook,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “targets,” “will,” “would” or similar expressions and the negatives of those terms. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Further information on these and additional risks that could affect Singular Genomics’ results is included in its filings with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and future reports that Singular Genomics may file with the SEC from time to time, which could cause actual results to vary from expectations. Any forward-looking statement made by Singular Genomics in this press release speaks only as of the day on which Singular Genomics makes it. Singular Genomics assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release. Investor ContactPhilip Trip TaylorGilmartin Groupir@singulargenomics.com Media ContactMatt Browningpr@singulargenomics.com

Breaking News: Mike Lindell Will Take the Stage at CPAC at 10:15 A.M. E.T. at CPAC - FRANKSPEECH NETWORK, INC further known as Mike Lindell Media Corp. (OTC Pink “FSBN”) and Many Other Headlines. - ForexTV

In an Age of Slanted News, Mike Lindell, Cara Castronuova, Alison Steinberg, Vanessa Broussard and Nikki Stanzione Bring a Team that Covers News Unlike Any Other With Truth, Integrity, and Faith as they Help Bring America Back on Track. After years of being an initiative to get the President elected and save our country, this year is turning out to be a celebration and victory lap!Washington, D.C., Feb. 21, 2025 (GLOBE NEWSWIRE) -- FrankSpeech Network, Inc (“FSBN”), which is currently being rebranded as Mike Lindell Media Corp., enters today's CPAC event with various interviews slated. Mike Lindell will be speaking at CPAC today at 10:15 E.T. -- You do not want to miss what Mike Lindell has to say.  TV Personalities Alison Steinberg, Cara Castronuova, Nikki Stanzione, and Vanessa Broussard will join Mike Lindell and the team at CPAC as they enter the last 2 days of the event with great guests as they help bring America back on track.  Today's line-up is sure to please and the Company will provide wall to wall media coverage. Be sure to tune into LindellTV.com for all the news and events.  Here are a few of today's top headlines. The Network congratulates Kash Patel on his recent appointment as FBI Director.  President Trump is expected to be at CPAC. Will the President speak? Sources indicated yes. The President has indicated that he will find the gold at Ft. Knox.  (Assuming it's there.) There have been a lot of foreign shipments of gold enetering the U.S. DOGE made an appearance at CPAC yesterday in the form of Elon Musk armed with a chainsaw as he is saving money almost as fast as politicians can spend it.  It's rumored that Mike Lindell and Vanessa Broussard will start their TV show on Monday, February 24, 2025 on LindellTV.com  Guest Editorial: After years of being an initiative to get the President elected and save our country, this year is turning out to be a celebration and victory lap!  There is still much work to be done. Today we ask the question what has happened to the Democrat party? It's in meltdown mode. Even Democratic Senators are melting like snowflakes on a hot day in front of crowds smaller than a Biden/Harris rally. Sometimes drawing only themselves and a few news media to such an event. Have Senators lost touch with their voters or just lost their minds? While we would never purposely do anything to help the Democrat party be more competitive, we should help them end the pity party many of them have been recently attending for the last month. Nevertheless, many realize they are the party which is barely on life support. They are the party who supports death...please tell us how that's working out. America needs a two-party system. We wish them no ill will. We just want to see them come back to "common sense." After all, it's one of the many things that got President Trump elected.  President Trump chose to make America Great Again. What's so bad about that? Peace, Safety, Properity? Is that such a bad thing? Common sense. We are all humans whether we call ourselves Democrat, Independent or Republican. What happened back in the days where people got together and just took one another for face value and we cared and listened to what that person had to say? When we stop to help someone do we say, are you a Republican or a Democrat? Do we choose our friends by their political stripe?  We encourage everyone to help their Democrat friends and neighbors to stop it with the political suicide and embrace "common sense." Stop smoking the legacy media weed! Many Democrats voted for President Trump because they didn't really have a viable choice on the other side. Let's face it, would you rather be led by a successful bsinessman or a politician. A net worth of Billions or a 37 Trillion Dollar deficit? Common sense. We urge everyone to consider these facts. Too many on that side allowed the rabid legacy media a/k/a/ mainstream media to jam a false narrative of their already fleeting viewers and listeners down their throats. People of all political persuasions have something in common and that is we are all human beings (some people might debate that) and most people have common sense (most but not all) ” Who purposely steps off the curb to be hit by a bus because they don't like who got elected. If you want to sterilize yourself because you don't like who was elected that's your business but somewhere down the way, that move will be regretable.  Greg Martin - President and COO said, "Don't blame this article on Mike Lindell. He's way too busy at CPAC. The world is a better place when we treat people they way we want to be treated. Unity versus division, love versus hate, cling to what is good, abhor that which is evil. England Dan and John Ford Coley wrote a song called "Love is the Answer." Jesus too said that Love is the Answer, so why not try that the next time you want to light someone up on social media who doesn't think like you. Then do what one of Mike Lindell's favorite musical artists Bob Segar did when he performed that song, "Turn the Page." Common Sense, right?" So turn the page and have a great weekend and visit CPAC. Love one another, let's all try it!  FSBN LindellTV Chairman and Chief Executive Officer Mike Lindell stated, "Let's treat everyone with love and respect. God calls us to do so and the world becomes a better place when we do. The Bible tells us to, "Love one another." "Love your neighbor as you love yourself." "Love does no harm." I'll see you at CPAC where I will be speaking at 10:15 A.M. Eastern."  ABOUT FRANKSPEECH NETWORK, INC. further known as MIKE LINDELL MEDIA CORP. (“FSBN”) and LindellTV provides accurate, unbiased and timely reporting without interference of slanted legacy media, biased corporate decision makers and other politically motivated newsmakers and influencers who do not accurately report the news. FSBN and LindellTV with its expanded news coverage and breaking news reporting will continue to be a major contributor in media the next four years and beyond at the White House, especially under the Trump Administration. The Company will be reporting from Washington, D.C., inside and outside the White House and covering the USA. FSBN is a public company quoted on the OTC Markets (OTC: Pink Market) FrankSpeech (now LindellTV), is a major broadcast platform founded by Mike Lindell in April 2021. FSBN provides a superior First-Amendment-friendly alternative to highly censored Big Tech options. In just a few short years, FrankSpeech has grown to serve over 7 million monthly viewers on its various channels. GET VOCL! VOCL isn’t just a new name; it represents a significant leap forward in our commitment to fostering free speech and vibrant community engagement. It’s time to Get VOCL! On VOCL, your voice makes the difference! With the launch of VOCLSocial, users can anticipate the same trusted platform they have come to value, enhanced with a suite of exciting new features designed to elevate your social media experience: Visit www.LindellTV.com to learn more.  Media Contact: MIKE LINDELL  www.LindellTV.com investor@fsbn.com Forward Looking Statements: This press release contains forward looking statements, including statements related to the business, operations and future plans of FSBN and Mike Lindell Media Corp within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934, that involve substantial risks and uncertainties. All statements, other than statements of historical facts, including statements regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans and objectives of management and expected market growth are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. FSBN believes that its primary risk factors include, but are not limited to its limited capital resources and its need for substantial financing; the need to develop effective internal process and system; changes in the overall economy; changes in technology, the number and size of competitors and the mix of products and services offered in its markets; and changes in the law and regulatory policy. Additionally, certain information included in this communication contains statements that are forward- looking, such as statements relating to the future anticipated direction of the media industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. These forward statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated. These risks include, among others, risks associated with unproven sales derived from the Company’s programming, risks associated with the media and communications industry, global or domestic terrorism, energy or power failure, and the risks related to the transition to a new management team.

Fintech founder Charlie Javice’s criminal trial has begun | TechCrunch

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