FOX Business’ Jeff Flock reviews on the letter the CEOs despatched to President Biden calling on him to end the federal mask mandate on public transportation.
Southwest Airways flights were delayed and canceled early Saturday morning.
In a assertion to Fox Small business, the airline cited “intermittent effectiveness difficulties adhering to plan right away maintenance of some of [its] backend technological innovation.”
“We offer you heartfelt apologies to our prospects for any inconvenience, and gratitude to our staff who are working diligently to make it up to them,” the airline wrote. “We’ll continue on to update prospects whose journey with us now may be delayed as end result of the now-fixed concerns.”
AUSTIN AIRPORT SENDS OUT Gas Shortage Warn AMID ‘INCREASED FLIGHT ACTIVITY’
Flight tracker FlightAware confirmed a lot more than a thousand delayed flights on Southwest soon right after 9 a.m. ET, with 179 cancellations.
Passengers reacted to the improvements on social media, responding to a Friday April Fool’s Working day tweet from Southwest.
A Southwest Airlines aircraft usually takes off for flight. The company is working with cancellation issues for practically a 7 days in October 2021. (AP Image/Wilfredo Lee)
“You want a joke? Bag fees,” the @SouthwestAir account stated.
“Sort of bad taste to make a Twitter joke when seemingly every flight nowadays is delayed,” Fox 61 meteorologist Ryan Breton replied.
GET FOX Organization ON THE GO BY CLICKING Here
Ticker
Protection
Final
Adjust
Alter {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}
Some others shared stories of prolonged shoppers provider phone calls, double cancellations and exorbitant airfare.
Airline ticket selling prices have risen owing to increased travel and already sky-substantial gas fees have been driven further more up by Russia’s invasion of Ukraine.
KPRC 2 in Houston, Texas noted Saturday that the source of delays was a “planned system outage” and that a spokesperson for Houston Airports advised the station the airways technique was down for two hours, beginning at 4 a.m. community time.
Former Frontier Airways CEO and Manifest founder and CEO Jeff Potter on the affect of better power price ranges on journey.
North Carolina’s WNCN explained the “nationwide system failure” experienced brought on delays out of Raleigh-Durham International Airport.
Simply click Below TO Go through Much more ON FOX Company
Fox Business’ Edward Lawrence was at Ronald Reagan Washington National Airport in Washington, D.C., and tweeted about the difficulty.
“Update: Gate Agents expressing that the @SouthwestAir process is back up. They are beginning to try and catch up with bag checks and boarding,” he wrote at 6:57 a.m. ET.
Emirates, Air India, All Nippon Airways, Japan Airlines, Lufthansa and British Airways all announced alterations to some flights, citing the situation.
Emirates mentioned it would suspend flights into 9 US airports: Boston, Chicago O’Hare, Dallas Fort Truly worth, George Bush Intercontinental in Houston, Miami, Newark, Orlando, San Francisco and Seattle. It claimed it would proceed traveling into New York’s John F. Kennedy airport, Los Angeles International and Washington Dulles.
“We are functioning carefully with plane companies and the related authorities to ease operational concerns, and we hope to resume our US products and services as shortly as attainable,” Emirates claimed in its assertion.
Air India claimed it would suspend company concerning Delhi and San Francisco, Chicago and JFK. It will also suspend a Mumbai to Newark flight. It will continue to fly into Washington Dulles.
Both ANA and Japan Airways stated they canceled some flights to the United States scheduled to use Boeing 777 aircraft, but will operate some flights applying Boeing 787s rather.
Germany’s Lufthansa canceled a flight among Frankfurt and Miami. It said it would swap Boeing 747-8 plane for 747-400s on flights from Frankfurt to Los Angeles, Chicago and San Francisco.
A spokesperson for British Airways instructed CNN Company that it “experienced to make a handful of cancellations” since a decision by telecom operators to hold off activating the new 5G assistance at some destinations didn’t deal with all the airports the airline serves.
Other carriers such as Virgin Atlantic and Air France-KLM explained they experienced not canceled any flights but have been monitoring the circumstance.
Delta Air Lines(DAL) claimed it is organizing for the chance of weather conditions-linked cancellations as early as Wednesday owing to the new 5G provider in the vicinity of dozens of US airports.
Transportation regulators experienced by now been anxious that the version of 5G that was scheduled to be switched on could interfere with some plane devices, and a lot of aviation business teams shared all those fears — inspite of reassurances from federal telecom regulators and wi-fi carriers.
Specifically, the Federal Aviation Administration has been worried that 5G mobile antennas near some airports — not air travelers’ mobile gadgets — could toss off readings from some aircraft machines intended to notify pilots how far they are from the ground. People units, identified as radar altimeters, are employed throughout a flight and are regarded essential devices. (Radar altimeters vary from normal altimeters, which count on air stress readings and do not use radio signals to gauge altitude.)
In December, the FAA issued an urgent buy forbidding pilots from utilizing the perhaps impacted altimeters around airports wherever small-visibility disorders would otherwise involve them. That new rule could maintain planes from having to some airports in specific circumstances, simply because pilots would be not able to land employing devices by itself.
AT&T, which owns CNN’s mum or dad business, and Verizon each declared Tuesday that they would hold off activating 5G on some towers all-around particular airports. The wireless technology’s rollout near major airports experienced been scheduled for Wednesday.
“We are annoyed by the FAA’s lack of ability to do what nearly 40 nations have finished, which is to safely and securely deploy 5G technologies devoid of disrupting aviation expert services, and we urge it do so in a well timed method,” Megan Ketterer, a spokesperson for AT&T, claimed.
The Biden administration welcomed the hold off, expressing in a assertion that the “settlement will prevent likely devastating disruptions to passenger travel, cargo functions, and our financial restoration, even though allowing additional than 90{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of wi-fi tower deployment to occur as scheduled.”
Airlines also praised the move.
“When this is a optimistic advancement towards preventing popular disruptions to flight functions, some flight limits may keep on being,” Delta reported in a statement.
In a Tuesday letter, CEOs from 10 airlines told the Biden administration to press back the already-delayed rollout. Airways estimate 1,000 flight disruptions for each working day for the reason that of feasible interference with radar altimeters that pilots use to land in minimal visibility ailments. The telecom market has not commented on the letter, but has mentioned fears are unfounded considering the fact that there have not been issues in other countries where 5G is now deployed.
— Brian Fung, Jackie Wattles and Chris Liakos contributed to this posting.
Outcomes in about $188 million of gross money proceeds to Heliogen
Accelerates and developments Heliogen’s mission to empower a sustainable civilization with reduced-price solar electricity that makes clear power additional cost-effective than fossil fuels
Heliogen’s shares to start out investing on the NYSE tomorrow, December 31, 2021 less than ticker “HLGN”
PASADENA, Calif., December 30, 2021–(Business WIRE)–Heliogen Inc. (“Heliogen” or the “Organization”), a top service provider of AI-enabled concentrated solar electrical power, right now declared that it has done its earlier announced small business combination with Athena Technological innovation Acquisition Corp. (“ATHN”).
The transaction was unanimously authorized by ATHN’s Board of Administrators and was accepted at a distinctive conference of ATHN stockholders on December 28, 2021. Far more than 91{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of the votes cast at the particular meeting were in favor of acceptance of the enterprise mix. THN stockholders also voted to approve all other proposals presented at the special assembly.
Concurrent with the completion of its business enterprise mixture, the put together firm altered its title from “Athena Technologies Acquisition Corp.” to “Heliogen Inc.” Commencing at the open of trading on December 31, 2021, Heliogen Inc.’s Class A widespread stock and Heliogen Inc.’s warrants are envisioned to commence investing on The New York Stock Trade under the symbols “HLGN” and “HLGNW,” respectively.
Company Track record
Started in 2013, Heliogen’s modular, AI-enabled, concentrated photo voltaic ability plants have the prospective to revolutionize the vitality marketplace by assuaging intermittency problems affiliated with renewable resources of energy era. Heliogen’s technologies is designed to flatten the electricity era curve by making use of concentrated photo voltaic power with storage to raise the availability of energy to industrial buyers.
The Company’s proprietary heliostat structure and management system aid concentration of the sun’s rays and have the capability to generate temperatures at the issue of concentrate that can exceed 1,000 levels centigrade. This warmth can then be captured, stored and transformed for industrial use, electric power generation, or to deliver green hydrogen gas, with the intention of providing in the vicinity of-24 hour renewable electricity that could change fossil fuels with concentrated daylight. Heliogen is commencing the commercialization of its AI-enabled, concentrated solar electric power modules with internationally identified buyers in the industrial, mining, and energy sectors.
Considering the fact that saying the organization combination with ATHN on July 7, 2021, Heliogen has declared important professional development which includes:
Collaboration with Woodside on a breakthrough solar technology venture to decrease carbon emissions. Heliogen has been granted by Woodside a Restricted Discover To Commence (“LNTP”) to start procurement of critical machines for a 5 megawatt (MW) industrial-scale demonstration facility in California. The proposed facility will use Heliogen’s AI-enabled concentrated photo voltaic engineering.
In partnership with Bloom Electrical power, the generation of environmentally friendly hydrogen by integrating the companies’ technologies – Heliogen’s concentrated photo voltaic energy program and the Bloom Electrolyzer. The modern effective demonstration in Lancaster, California made hydrogen and showcased the many gains of combining the companies’ complementary technologies to reach small-cost eco-friendly hydrogen generation.
A new technological breakthrough in the production of small-charge renewable electrical power. In field assessments at Heliogen’s Lancaster, California facility, the Business efficiently finished the initially technological demonstration of an autonomous field servicing method, Heliogen’s Installation & Cleansing Autonomous Robotic & Utility Remedy, or ICARUS. By bringing the identical advanced technologies that allow its AI-enabled concentrated photo voltaic electricity methods to the process of setting up and keeping people units, the Company’s most up-to-date innovation is envisioned to drastically minimize the time to deploy its concentrated solar facilities, as effectively as the prices associated with design and ongoing routine maintenance.
Finalized a $39 million award from the U.S. Department of Power (“DOE”) to deploy the Company’s breakthrough renewable power know-how in California. Heliogen will use the cash gained from the DOE towards a industrial-scale facility leveraging its AI-enabled concentrated photo voltaic engineering.
Collaboration with CarbonCapture to create sustainably-run direct air seize (DAC) services. The companies intend to kick off front-stop engineering for the integration of Heliogen’s concentrated solar electricity and reliable media thermal storage techniques with CarbonCapture’s carbon removing technologies to effectively and price tag-correctly harness the industrial warmth generation abilities of Heliogen methods for use in CarbonCapture DAC programs.
Management Commentary
Bill Gross, Founder and Main Executive Officer of Heliogen, commented: “Powering the earth with renewable strength is not only critical to combating climate change – it is also the greatest economic chance in background. The money elevated in this transaction will fund our accelerated advancement and enable us to globally scale our video game changing AI-enabled concentrated photo voltaic power technologies. We consider we have the likely to remodel the world’s power output and meaningfully tackle local climate adjust, even though providing lengthy-term stakeholder value. With our proficient and devoted group, a entire world-class Board of Administrators, our potent customer and companion interactions, a developing buyer pipeline, and technology that is in large need globally, I couldn’t be additional optimistic about Heliogen’s means to provide on our mission of changing fossil fuels with concentrated daylight.”
Phyllis Newhouse, former CEO of Athena Engineering Acquisition Corp. and member of the Heliogen board of administrators, commented: “We’re very proud to reach this milestone and get started the up coming chapter in Heliogen’s advancement story. Our authentic mission at Athena was to operate with imagined leaders and know-how innovators whose groundbreaking answers will help both industry and culture. With the closing of our business enterprise blend right now, we’re going a person phase nearer to a more healthy environment where by fossil fuels are changed by cleaner resources of energy.”
Transaction Overview
The transaction resulted in roughly $188 million of income to Heliogen’s harmony sheet, comprised of equally cash from ATHN’s former belief account and a private investment decision in community fairness (PIPE). The PIPE is anchored by funds and accounts managed by Counterpoint Worldwide (Morgan Stanley), Salient Companions, Saba Funds, and the XCarb Innovation Fund of ArcelorMittal.
In addition to the proceeds from this transaction, the Corporation has beforehand disclosed the conversion to popular shares of $83.4 million in Safe and sound financing on closing of the organization combination.
Heliogen Inc. will use the proceeds to scale heliostat production, to assist investigate and advancement efforts on following generation heliostat technological innovation, to guidance international challenge development, and to fund the stability sheet.
Management
Heliogen’s current senior management crew will carry on to guide the merged business, including Invoice Gross (Chief Executive Officer Director), Christie Obiaya (Main Fiscal Officer), Steve Schell (Main Engineering Officer and Chief Engineer) and Tom Doyle (Main Business Officer).
Heliogen Inc.’s Board of Directors will be comprised of a the vast majority of unbiased administrators, particularly Phyllis Newhouse, Stacey Abrams, Paddy Padmanathan, Julie Kane, Robert Kavner and David Crane. Heliogen CEO Bill Gross will serve as the only non-independent director.
Advisors
Cohen & Enterprise Money Markets (a division of J.V.B. Fiscal Team, LLC), is serving as economical advisor to Athena. Barclays is serving as economical advisor to Heliogen. Cohen & Firm Money Marketplaces is also serving as placement agent to Athena. DLA Piper LLP (US) is serving as lawful advisor to Athena. Cooley LLP is performing as legal advisor to Heliogen.
About Heliogen
Heliogen is a renewable electricity know-how company targeted on getting rid of the have to have for fossil fuels in hefty sector and powering a sustainable future. The company’s AI-enabled, modular concentrated solar technology aims to charge-efficiently produce around 24/7 carbon-free of charge electrical power in the sort of heat, energy, or environmentally friendly hydrogen fuel at scale – for the initial time in historical past. Heliogen was created at Idealab, the primary engineering incubator launched by Monthly bill Gross in 1996. For additional information about Heliogen, be sure to pay a visit to heliogen.com.
Forward-Seeking Statements
This press launch contains selected forward-looking statements inside the meaning of the “safe and sound harbor” provisions of the United States Non-public Securities Litigation Reform Act of 1995. Statements that are not historic in character, which include the words and phrases “anticipate,” “count on,” “suggests,” “strategy,” “consider,” “intend,” “estimates,” “targets,” “tasks,” “really should,” “could,” “would,” “might,” “will,” “forecast” and other similar expressions are intended to establish forward-searching statements. Forward-on the lookout statements are predictions, projections and other statements about future events that are centered on latest expectations and assumptions and, as a result, are issue to challenges and uncertainties. A lot of elements could result in actual long term activities to vary materially from the forward-wanting statements in this press release, including but not constrained to: (i) the means to acquire or keep the listing of Heliogen’s popular stock on the New York Stock Trade next the company mixture (ii) the chance that the proposed transaction disrupts current plans and functions as a consequence of the announcement and consummation of the company mixture (iii) the outcome of any authorized proceedings that may be instituted towards Heliogen or other folks following the organization combination (iv) the ability to recognize the predicted benefits of the business enterprise mixture, which may well be afflicted by, among other matters, the capacity of Heliogen to increase and manage expansion profitably, maintain associations with shoppers, contend within just its marketplace and keep its vital personnel (v) expenses similar to the proposed small business combination (vi) variations in applicable legal guidelines or rules (vii) the result of the COVID-19 pandemic on Heliogen’s enterprise (viii) the means of Heliogen to execute its company model, together with marketplace acceptance of its planned items and solutions and obtaining ample production volumes at satisfactory quality ranges and price ranges (ix) Heliogen’s capability to raise cash (x) the likelihood that Heliogen may be adversely impacted by other financial, enterprise, and/or competitive things and (xi) foreseeable future trade and curiosity fees. The foregoing checklist of components is not exhaustive. You should meticulously contemplate the foregoing factors and the other threats and uncertainties described in the “Danger Aspects” portion of the registration statement on Sort S-4, as amended via November 19, 2021, in the definitive proxy assertion / prospectus, dated December 3, 2021 and other paperwork filed by the Firm from time to time with the SEC. These filings establish and deal with other crucial threats and uncertainties that could cause actual occasions and success to vary materially from all those contained in the ahead-on the lookout statements. Ahead-looking statements talk only as of the day they are created. Readers are cautioned not to place undue reliance on forward-looking statements, and Heliogen assumes no obligation and does not intend to update or revise these forward-looking statements, irrespective of whether as a end result of new information and facts, foreseeable future situations, or usually. No assurance is specified that the merged company, will reach its anticipations.
Britishvolt’s LeCain sees EV batteries improving in the same way that the internal combustion engine improved over more than a century: incrementally. He said he believes there are plenty of gains to be made in making lithium ion batteries better. The company is working on technology that reduces the weight and size of the pack.
“Right now we’re trying to take parts out, going from cell to chassis, using hard-cased prismatic cells that bear some of the weight and structure of the vehicle,” LeCain said.
Britishvolt’s first cells for the auto industry will be lithium ion, but the company is also investing in solid-state batteries. And unlike many other battery companies, its leadership team includes two auto industry veterans, both of whom have extensive powertrain backgrounds:
Joe Bakaj, former Ford of Europe vice president of product development. He is Britishvolt’s vice chairman.
Graham Hoare, former chairman of Ford of Britain. He is the battery-maker’s president of global operations.
Although global automakers and battery companies are investing billions over the next nine years toward cell development, it’s not clear whether a battery will ever hold as much energy as a gallon of gasoline or be as convenient to use.
A Chevrolet Silverado pickup, for example, has a 24-gallon fuel tank that can be refilled at most stations in about three minutes. Driven on the highway, the truck will get 21 mpg and travel around 504 miles before it needs more fuel. A full fuel tank in the Silverado weighs 146.4 pounds.
To get a driving range of 300 or more miles, the battery pack in electric vehicles has to be very large. A Tesla Model 3 with the long-range battery pack contains 4,410 cells and weighs more than 1,200 pounds; the EPA-estimated range is 358 miles. Even a compact Chevrolet Bolt’s battery pack, with its range of 259 miles, weighs around 960 pounds.
And then there’s the matter of charging times. For the roughly 80 percent of EV drivers who charge at home and don’t exceed their vehicle’s range, those long waits aren’t usually a problem. But for those who need to use public chargers, wait times can be long, anywhere from 15 minutes to an hour, once plugged in, to get reasonable range.
“Were combustion cars viable in 1950? Absolutely. People got to and from work every day. Are they better today than they were in 1950? Absolutely,” said Renna. “You’ve had billions of R&D dollars and engineers working on making them better every day. Using that analogy, I think electric cars are viable today, and solid-state batteries have the potential to make them more viable in the future.”
Commits to Compelling 2025 Growth Objectives and Announces Multi-Year Share Buyback Program
– Grow, Innovate, and Optimize strategic initiatives to deliver accelerated, compound annual growth rates of mid-single-digits for revenue and mid-teens for operating income from 2022 – 2025
– Expect to deliver strong cash flow generation with cumulative cash from operations of approximately $4.0 billion and free cash flow of about $2.4 billion from 2022 – 2025
– Balanced capital allocation plans support business reinvestment, debt reduction, and increased shareholder returns
– $300 million multi-year share buyback program announced, enhancing shareholder returns after recently reinstating quarterly cash dividend
– Separate public listing of the Digital & Betting business under evaluation
LONDON, Nov. 16, 2021 /PRNewswire/ — International Game Technology PLC (“IGT”) (NYSE:IGT) will host a virtual Investor Day today at 8:30 am EST, detailing the progress the Company has made over the past two years to build a solid foundation for profitable growth across all business segments, generate robust cash flows, and pursue a disciplined capital allocation strategy.
IGT (NYSE:IGT) is the global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Gaming Machines and Lotteries to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.igt.com.
“IGT’s industry leadership is built on a legacy of innovation and trust. Through greater player engagement, responsible management, and best-in-class content, services, and solutions, we are well-positioned for profitable growth,” said Marco Sala, CEO of IGT. “Our diverse portfolio aligns with attractive end-markets and our strategy is to grow, innovate, and optimize. Over the next four years, we are confident we can deliver accelerating organic growth, significant margin expansion, and robust free cash flow to drive stakeholder value and increased shareholder returns.”
Strategic Initiatives to Grow, Innovate, and Optimize Provide Foundation for Compelling Long-term Outlook
Grow: leverage innovation in content and solutions as well as leading market positions to expand market share, support customer sales growth, and capture new market opportunities
Innovate: utilize large and highly differentiated intellectual property portfolio and leading investment in research and development to create best-in-class games, systems, and solutions to further enhance player experiences and support customer growth
Optimize: operational excellence and structural cost reductions enable continued margin improvement; new OPtiMa 2.0 cost-reduction program expected to deliver more than $150 million in incremental savings, compared to pre-pandemic levels, by the end of 2023
Introducing 2022 Outlook
Revenue of $4.1 – $4.3 billion
Operating margin of 20{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} – 22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}
Cash from operations ranging from $850 million – $1.0 billion
Capital expenditures totalling $400 million – $450 million
Net debt leverage of 3.5x – 4.0x
Setting Compelling and Achievable Financial Goals for 2022 – 2025, Including Robust Growth in Revenue and Margins and Significant Cash Flow Generation
Revenue of $4.6 – $5.0 billion in 2025, reflecting a mid-single-digit compound annual growth rate (“CAGR”)
Mid-teens operating income CAGR; operating margin expansion of over 500 basis points to 26{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} – 29{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} (at the mid-point) in 2025
Cumulative cash from operations of approximately $4.0 billion; free cash flow of approximately $2.4 billion
Disciplined Capital Allocation Plans Balance Reinvestment in the Business with Increased Shareholder Returns
A comprehensive capital investment plan of approximately $2.8 billion in aggregate capital expenditures and research and development from 2022 – 2025, supporting the existing portfolio with a focus on fast-growing iLottery and Digital & Betting activities
Continue to reduce leverage to a range of 2.5x – 3.5x across the investment cycle, targeting the lower part of the guidance range by 2025
Reinstated quarterly cash dividend of $0.20 per common share (previously announced with earnings on November 9, 2021)
Implementing $300 million multi-year share repurchase program, the first in IGT PLC’s history
Strategic Positioning to Increase Optionality for Digital & Betting Segment
Event Details Tuesday, November 16, 2021 8:30 a.m. – 11:30 a.m. EST
Webcast Registration: A live webcast is available under “Events Calendar” on IGT’s Investor Relations website at www.IGT.com. Registration for the event is required and can be completed in advance. A replay will also be available on the website following the call.
Presentation Materials: Materials presented at the event will be posted on IGT’s Investor Relations website at www.IGT.com during the event.
Share Repurchase Program IGT’s Board of Directors authorized a program for the repurchase of up to $300 million of the Company’s outstanding ordinary shares during a period of four years commencing on November 18, 2021.
Repurchases will be made pursuant to repurchase contracts entered into with counterparties approved by IGT’s shareholders, pursuant to which such counterparties will purchase ordinary shares for delivery to the Company. The timing and amount of any repurchases will be determined by IGT’s management based on an evaluation of market conditions, applicable securities laws and other factors. These repurchases may be made pursuant to repurchase plans that meet the requirements of Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Rule 10b5-1 allows the Company to repurchase its ordinary shares at times it might otherwise be prevented from doing so under insider trading laws or because of self-imposed blackout periods.
The share repurchase program is expected to be funded through cash generated from operations. Any shares acquired pursuant to the repurchase program will be cancelled or held in treasury. The repurchase program does not obligate the Company to acquire any particular amount of its ordinary shares, and it may be suspended or terminated at any time.
Any repurchases of the Company’s ordinary shares will be made in accordance with the authority granted by IGT shareholders at its annual general meeting (“AGM”) to repurchase ordinary shares that is in effect from time to time. At its 2021 AGM, IGT shareholders voted to authorize the repurchase of up to 20,485,646 ordinary shares of the Company. Repurchases will be discontinued in the event the Company lacks the general authority to repurchase ordinary shares.
Evaluation of Potential Separate Public Listing of Digital & Betting Business IGT recently established a dedicated Digital & Betting business segment, enhancing visibility to this high-growth part of IGT’s portfolio of businesses. As a part of its ongoing commitment to ensuring appropriate strategic flexibility for its Digital & Betting business, the Company is also undertaking a legal entity and organizational realignment over the next 12 months designed to provide the Digital & Betting business with dedicated management, a more nimble organization and governance structure and the ability to pursue organic and inorganic growth opportunities. As part of this process, the Company may evaluate a potential separate public listing of its Digital & Betting business to further enhance its strategic flexibility while maintaining a controlling interest following the consummation of any such potential separate public listing. There can be no assurances as to the form and timing of any separate public listing or other strategic activity that may result from this evaluation or if any such listing or activity will be consummated at all. IGT does not currently intend to disclose further developments regarding its evaluation of a potential separate public listing for its Digital & Betting business until such time as a final determination has been made or IGT otherwise determines that further disclosure is appropriate.
About IGT IGT (NYSE: IGT) is a global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Gaming Machines and Lotteries to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivalled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.IGT.com.
Cautionary Statement Regarding Forward-Looking Statements This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the “Company”) and other matters. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, dividends, results of operations, or financial condition, or otherwise, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as “aim,” “anticipate,” “believe,” “plan,” “could,” “would,” “should,” “shall”, “continue,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project” or the negative or other variations of them. These forward-looking statements do not guarantee future performance and speak only as of the date on which such statements are made. These forward-looking statements are subject to various risks and uncertainties, many of which are outside the Company’s control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the factors and risks described in the Company’s annual report on Form 20-F for the financial year ended December 31, 2020 and other documents filed from time to time with the SEC, which are available on the SEC’s website at www.sec.gov and on the investor relations section of the Company’s website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company’s business. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.
Contact Phil O’Shaughnessy, Global Communications, toll free in U.S./Canada +1 (844) IGT-7452; outside U.S./Canada +1 (401) 392-7452 Francesco Luti, +39 06 5189 9184; for Italian media inquiries James Hurley, Investor Relations, +1 (401) 392-7190
Share on PinterestInspired by ancient medicine, experts have tested a new technique to improve vaccine delivery. Pansfun Images/Stocksy
A team of researchers recently developed a novel way of delivering nucleic acid-based medicines using a method similar to an ancient cupping technique, Home Garden USA.
Their experiments indicate that the technique makes vaccine delivery more effective by several orders of magnitude.
The cupping technique is currently undergoing clinical trials to deliver a COVID-19 vaccine.
Over the past 20 years, scientists have developed a range of nucleic acid-based medicines as both treatments and vaccines.
Nucleic acids are present in all living cells, most notably as DNA and RNA.
Treatments and vaccines that use nucleic acids work by inhibiting, adding, replacing, or editing DNA and RNA in host cells.
How well these treatments and vaccines work depends on how well they can be delivered to the host’s cells. If directly injected into tissue, for example, most nucleic acids will rapidly degrade unless protected.
The Pfizer-BioNTech and Moderna COVID-19 vaccines are both nucleic acid-based medicines. Nucleic acids in these vaccines are enclosed and protected by lipid nanoparticles that deliver them across the host cell membrane.
Although they are effective, drugs delivered in this way are vulnerable to degradation during storage.
One delivery method for nucleic acid-based medicines is electroporation. This involves delivering nucleic acids to cells made more permeable using a pulse of electricity.
While somewhat effective, these electrical impulses can cause muscle contractions, tissue damage, and pain, and they may not be suitable for people who use implantable electrical devices such as defibrillators or pacemakers.
Using this method also requires substantial training, and equipment costs may make it inaccessible to regions and populations with fewer resources.
Creating a method for delivering nucleic acid-based medicines that overcomes unwanted side effects and cost barriers while still being effective could increase the accessibility of vaccines to areas with limited resources.
Recently, researchers from Rutgers, the State University of New Jersey in Piscataway, and GeneOne Life Science in Seoul, South Korea, developed a method based on an ancient cupping technique to deliver nucleic acid-based medicines.
“Development of enhanced delivery technologies plays an instrumental role in bringing nucleic acid-based biologics to broad use and clinical relevance, and worldwide vaccine distribution is just one example,” said senior study author Prof. Hao Lin.
“We have demonstrated an alternative, safe, and effective transfection platform that yields high levels of transgene expression.”
“The advantages also include device cost effectiveness, […] manufacturing scalability, and minimal requirements for user training,” he added.
“Because of the inherent advantages of DNA, not least of which is avoiding cold-chain requirements of other vaccines, this technology facilitates vaccination programs into remote regions of the world where resources are limited,” he added.
The study now appears in the journal Science Advances.
Cupping therapy is an ancient treatment method from the Middle East and China. It involves applying heated cups to the skin to create negative pressure and increase blood circulation to promote healing.
Since 1950, doctors have used the method in hospitals in China and elsewhere for conditions such as acne, facial paralysis, and dyspnea.
Although evidence of its health benefits is lacking, the authors of the new study decided to investigate a similar technique as a potential delivery method for nucleic acid-based medicine.
To test the method, the researchers gathered two groups of rats and injected both with DNA in the upper layers of their skin. One group received the “suction cup treatment” on their injection site, whereas the other group did not.
The researchers monitored the activity of the DNA with fluorescence microscopy. They found that gene expression from the vaccine was detectable at 4 hours post-vaccination. In the rats who also underwent cupping, however, gene expression was detectable at 1 hour post-vaccination.
At 24 hours post-injection, the researchers saw that gene expression was detectable eight times deeper under the skin among the rats who underwent cupping than among those who received DNA injections alone.
To investigate whether or not this technology could work to deliver potential COVID-19 vaccines, the researchers next injected the rats with a synthetic SARS-CoV-2 DNA candidate vaccine.
They split the rats into three groups:
The first group received two injections of the vaccine candidate without suction on days 0 and 14.
The second group received one vaccine, followed by dermal suction on day 0.
The third group received two vaccinations and dermal suction on days 0 and 14.
The researchers collected blood samples from the rats on days 0 and 14, before vaccination, and again on day 29.
They found that the rats who received cupping after the vaccine had a significantly stronger immune response than those who received the vaccine alone.
The researchers also found that immune responses in the rats who received a single vaccine followed by suction were not statistically different from those who received two vaccines followed by suction.
They also note that the rats who underwent suction had no evidence of tissue damage or lymphocyte infiltration in their injected areas.
The researchers say that the underlying mechanisms for suction-enhanced delivery are not clear. They hypothesize, however, that it may work via the CG pathway. This plays a role in determining which molecules travel through membranes and enter cells.
The researchers explain that it will be challenging to confirm the underlying mechanisms of cupping due to the complexity of the processes involved and a lack of availability of drugs used for testing.
Nevertheless, the researchers say that even without mechanistic understanding, it is still possible to improve the method.
“Currently, the procedure is two-step: an injection followed by suction,” Dr. Lin told Medical News Today.
“We are working on a combination device/method to render one-step application — that is, injection and suction in a single step by a single device,” he continued. “Furthermore, we are trying to reduce suction time even further to increase patient and staff acceptance.”
When asked whether this method could work for COVID-19 vaccines, Dr. Lin said, “Theoretically, this may be possible, but we cannot answer without testing since, except for DNA vaccines, COVID-19 vaccines are delivered into the muscle, whereas this device delivers [the] vaccine to the upper layers of the skin.”
“The [suction] device is being tested currently in phase 1 and phase 2 clinical trials of a COVID-19 vaccine. The documentation to enable filing with regulatory agencies for general and widespread clinical use is being readied,” he said.
The researchers conclude that cupping is a promising method for nucleic acid-based medicine delivery. However, further research is necessary to see whether it could work to deliver COVID-19 vaccines to humans.
“The suction device has numerous advantages relative to other devices for DNA vaccine delivery. First, it is very inexpensive and easy to use, requiring minimal training,” Dr. Lin told MNT. “Secondly, the device is run from a battery that is easily rechargeable.”
“Third,” he continued, “is the high degree of patient acceptance, as the device will help deliver DNA vaccines without pain or discomfort.”
“And fourth, unlike the significant setup times with other devices, this only requires changing out a cap and then pressing the power button; the machine will turn off in a few seconds.”
“This, coupled with the many advantages of DNA as a vaccine type — the greatest advantages being the ability to completely avoid the need for freezers from the clinician’s perspective, and low side effects and discomfort from the patient’s perspective — makes this an ideal vaccine platform for resource-limited and remote regions,” he concluded.
