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Business Standard
04-07-2025
- Business
- Business Standard
Banking system liquidity surplus tops ₹4 trillion; strong VRRR demand
Liquidity jumps on government spending and surplus transfer; RBI gets ₹1.7 tn bids at 7-day VRRR, with cut-off at 5.47%; experts see preference for shorter operations Mumbai Listen to This Article The liquidity surplus in the banking system, measured by banks parking funds in the Reserve Bank of India's liquidity adjustment facility (LAF), surged to ₹4.04 trillion on Thursday, the highest since 19 May 2022. The surge in liquidity is mainly due to increased government spending following a record surplus transfer by the central bank—₹2.69 trillion—in May. RBI conducted a 7-day Variable Rate Reverse Repo (VRRR) auction for which it received bids worth ₹1.7 trillion against the notified amount of ₹1 trillion. The central bank accepted ₹1 trillion at a cut-off rate of 5.47 per cent. The bidding was significantly higher
Yahoo
10-06-2025
- Business
- Yahoo
System1 Announces Reverse Stock Split
Shares Expected to Begin Trading on a Split-Adjusted Basis on June 12, 2025 LOS ANGELES, June 10, 2025--(BUSINESS WIRE)--System1, Inc. (NYSE: SST) ("System1" or the "Company"), an omnichannel customer acquisition marketing platform, today announced that its board of directors has approved a reverse stock split (the "Reverse Stock Split") of its Class A Common Stock, par value $0.0001 per share ("Class A Common Stock") and Class C Common Stock, par value $0.0001 per share ("Class C Common Stock", and together with the Class A Common Stock, the "Common Stock") at a ratio of 1-for-10. Stockholders approved a proposal to allow the board of directors, in its discretion, to effect the Reverse Stock Split at the Annual Meeting of Stockholders held on June 10, 2025, with the final ratio determined by the Company's board of directors. The Reverse Stock Split is expected to become effective at 5:00 p.m. Eastern Time on June 11, 2025 (the "Effective Time"). Shares of System1 Class A Common Stock are expected to begin trading on a split-adjusted basis on the New York Stock Exchange (the "NYSE") on June 12, 2025. Shares of the Class A Common Stock will continue to trade under the symbol "SST" and the new CUSIP number will be 87200P 208. Warrant Adjustments and Trading Information The CUSIP for the Company's redeemable warrants will remain unchanged. However, under the terms of the applicable warrant agreement, the number of shares of Class A Common Stock issuable on exercise of each warrant will be proportionately decreased. Specifically, following effectiveness of the Reverse Stock Split, every 10 shares of Class A Common Stock that may be purchased pursuant to the exercise of redeemable warrants now represents one (1) share of Class A Common Stock that may be purchased pursuant to such warrants. Accordingly, every 10 warrants will be exercisable for one share of Class A Common Stock at an exercise price of $115.00 per share of Class A Common Stock. Impact on Common Stock The Company will file an amendment to its Amended and Restated Certificate of Incorporation to implement the Reverse Stock Split as of the Effective Time. The Reverse Stock Split is intended to, among other things, increase the per share trading price of the Class A Common Stock in order to satisfy the closing price requirements for continued listing on the NYSE. At the Effective Time of the Reverse Stock Split, every 10 shares of Common Stock outstanding and held of record by each stockholder of the Company, including treasury shares, will be automatically reclassified into one (1) new share of Common Stock. As a result of the Reverse Stock Split, proportionate adjustments will also be made to the number of shares of Common Stock underlying System1's outstanding equity awards and the number of shares issuable under System1's equity incentive plans and existing agreements, as well as the exercise price and/or any strike price, as applicable. The Reverse Stock Split has no effect on the par value of the Company's Common Stock or authorized shares of any class of Common Stock. The Reverse Stock Split will affect all stockholders uniformly and will not alter any stockholder's percentage interest in the Company's equity (and the proportional voting power will remain unchanged), except to the extent that the Reverse Stock Split results in some stockholders receiving cash in lieu of fractional shares. No fractional shares will be issued in connection with the Reverse Stock Split. Instead, each holder of Class A Common Stock will be entitled to receive a cash payment in lieu thereof at a price equal to the fraction of one share to which the stockholder would otherwise be entitled multiplied by the closing price per share of Class A Common Stock on the NYSE on June 11, 2025. The terms of System1's outstanding warrants do not permit issuance of fractional shares upon exercise of such warrants. Instead, the number of shares issuable shall be rounded down upon exercise of the warrants. Shareholder Information and Transfer Agent Details Continental Stock Transfer & Trust Company is acting as transfer and exchange agent for the Reverse Stock Split. Registered stockholders who hold shares of Common Stock are not required to take any action to receive split-adjusted shares. Stockholders who own shares via a broker, bank, trust or other nominee organization will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to such organization's particular processes, and will not be required to take any action in connection with the Reverse Stock Split. Additional information about the Reverse Stock Split can be found in the Company's definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission (the "SEC") on May 19, 2025, which is available on the SEC's website, and on the "Investors" section of the Company's website at or the Company's Current Report on Form 8-K filed on June 10, 2025. About System1, Inc. System1 combines best-in-class technology & data science to operate its advanced Responsive Acquisition Marketing Platform (RAMP). System1's RAMP is omnichannel and omnivertical, and built for a privacy-centric world. RAMP enables the building of powerful brands across multiple consumer verticals, the development & growth of a suite of privacy-focused products, and the delivery of high-intent customers to advertising partners. For more information, visit Cautionary Statement Regarding Forward-Looking Statements Certain statements made in this press release are considered "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect System1's current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from System1's expectations and projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the Company's ability to regain compliance with the minimum bid price requirement; the effectiveness of the Reverse Stock Split; the continued listing of the Class A Common Stock on NYSE; and the Company's financial condition. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the SEC, as updated by other reports filed with the SEC, including, but not limited to, our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, and the Company's other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. View source version on Contacts Investors: Brett MilotteICR, Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Elle
02-06-2025
- Health
- Elle
A Derm's Guide to Simplifying Your Skin-Care Routine Without Sacrificing Results
The more work you put into something, the better the outcome, right? Actually, it's not always so when it comes to your skin-care routine. While there's nothing wrong with using double digits' worth of products if you really want to, you can achieve results with much less time, effort, and counter real estate, according to Dr. Hadley King, a New York City-based board-certified dermatologist. It's all about identifying your main skin goals, and then choosing products with formulas that work harder for your needs. 'Skin minimalism doesn't mean that you're choosing just one ingredient to use, or a single skin concern to focus on,' Dr. King says. 'Well-formulated products smartly incorporate multiple ingredients in one—so you don't need to use 10 products to reap major benefits.' Here, the derm shares her top tips for building an efficient, results-driven routine, as well as why Rodan + Fields is her recommended brand to do it with. Take the guesswork out of the equation. Dr. King is a fan of Rodan + Fields because the female-founded brand offers dermatologist-developed regimens created for different skin concerns, each with three to four complete steps. 'So much thought has been put into the ingredient combinations in each formula, and the products are engineered to work together,' she says. The options include Redefine, an anti-aging system that lifts, firms, and visibly minimizes the appearance of lines; Unblemish, which works to clear and prevent breakouts as well as to visibly minimize the look of pores and fine lines; and Reverse, designed to target discoloration and dark spots at every step. If you're struggling with where in your routine you can downsize, Dr. King suggests wiping the slate clean and going back to the essentials. 'The basics are always going to be a gentle cleanser, a moisturizer, and SPF that all support the skin barrier,' she says. This simple combination is key in addressing so many skin concerns, from dehydration and sensitivity to signs of aging and skin-cancer prevention. This step is where your skin's unique needs really take center stage. Once you've built a solid base, consider your most pressing concerns—acne, wrinkles, dullness—and then look for a treatment product with active ingredients that are proven to target them, such as a concentrated serum. To effectively tackle adult acne, for example, Dr. King recommends Rodan + Fields Unblemish Dual Intensive Acne Treatment, which you can purchase solo or as part of the Unblemish Regimen. 'As you get older, you need to be cautious to choose acne products your skin can tolerate,' she says, noting that harsh formulas that work on teen skin can be too irritating for adults. In addition to 2.5 percent benzoyl peroxide to clear and prevent blemishes, the multitasking Unblemish treatment also contains pomegranate and chamomile extracts to calm redness, and ceramides to condition, hydrate, and visibly plump. Or to target multiple signs of aging in one step, look for a serum with proven ingredients that firm, boost cell turnover, hydrate, and defend against the environmental aggressors that cause these concerns—like Rodan + Fields Total RF Serum. It features the brand's patented RF TriEnergy Complex, which revitalizes compromised skin cells for a more youthful appearance, and also works to address uneven tone and texture, dullness, dry skin, and enlarged pores.
Associated Press
30-04-2025
- Business
- Associated Press
Snow Lake Announces Reverse Stock Split
Reverse Stock-Split to be effective on May 2, 2025 Winnipeg, Manitoba--(Newsfile Corp. - April 30, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ('Snow Lake'), a North American uranium exploration and development company (the 'Company'), today announced that it will effect a 1-for-13 reverse stock split ('Reverse Stock Split') of its common shares, no par value per share ('Common Shares'). This Reverse Stock Split was approved by the board of directors of the Company on April 11, 2025 and by the Company's shareholders at the shareholders meeting held on May 8, 2024, where shareholder approval was given to undertake a reverse stock split of the Company's Common Shares at a ratio to be determined by the board of directors, at its sole discretion, at such time as the board of directors deems appropriate, but in any event no later than May 1, 2027. The Reverse Stock Split will become effective at 1:01 a.m. Eastern Time on Friday, May 2, 2025, and the Company's Common Share will commence trading on the Nasdaq Capital Market on a post-split basis at the opening of the market on May 2, 2025. The Company's Common Share will continue to trade on the Nasdaq Capital Market under the Company's existing trading symbol, 'LITM,' and a new CUSIP number 83336J307 has been assigned as a result of the Reverse Stock Split. The Reverse Stock Split is primarily intended to bring the Company into compliance with the $1.00 minimum bid price requirement for maintaining its listing on Nasdaq. There is no guarantee the Company will meet the minimum bid price requirement. The 1-for-13 reverse stock split (the 'Ratio') will automatically combine and convert 13 current shares of the Company's Common Shares into 1 issued and outstanding new share of Common Shares. Each outstanding stock options, warrants, restricted share units or RSUs of the Company convertible into pre-Reverse Stock Split Common Shares that has not been exercised or cancelled prior to the effective date of the implementation of the Reverse Stock Split will be adjusted pursuant to the terms of the instrument or plan governing such security on the same Reverse Stock Split Ratio described above, and each holder of such pre-Reverse Stock Split convertible securities will become entitled to receive post-Reverse Stock Split Common Shares pursuant to such adjusted terms. The Reverse Stock Split will not change the par value of the Common Share nor the authorized number of shares of Common Shares or any preferred shares. The Reverse Stock Split will affect all shareholders uniformly and will not alter any shareholder's relative interest in the Company's equity securities, except for any adjustments for fractional shares. No fractional shares will be issued, all fractional shares will be rounded down to the next lowest whole numbers, and cash in lieu will be paid for fractional shares in connection with the Reverse Stock Split. The Reverse Stock Split will reduce the number of issued and outstanding common shares of the Company from approximately 101,704,516 to approximately 7,823,360. The Company's transfer agent, Endeavor Trust Corporation, will serve as exchange for the Reverse Stock Split. Registered shareholders holding pre-split shares of the Company's Common Shares electronically in book-entry form are not required to take any action to receive post-split shares. Shareholders owning shares via a broker, bank, trust or other nominee will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to such broker's particular processes, and will not be required to take any action in connection with the Reverse Stock Split. Holders of stock certificates will need to send their old physical certificates with a letter of transmittal to receive their new post-Reverse Stock Split certificate. Snow Lake Resources Ltd. Snow Lake Resources Ltd., d/b/a Snow Lake Energy, is a Canadian mineral exploration company listed on Nasdaq: LITM, with a global portfolio of critical mineral and clean energy projects. The Pine Ridge Uranium project is an exploration stage project located in Wyoming, United States, and the Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia. Snow Lake also holds a portfolio of additional exploration stage critical minerals projects located in Manitoba. Learn more at Forward-Looking Statements: This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the 'safe harbor' provisions under the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including without limitation statements with regard to Snow Lake Resources Ltd. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements contained in this press release may be identified by the use of words such as 'anticipate,' 'believe,' 'contemplate,' 'could,' 'estimate,' 'expect,' 'intend,' 'seek,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'target,' 'aim,' 'should,' 'will,' 'would,' or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Snow Lake Resources Ltd.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Some of these risks and uncertainties are described more fully in the section titled 'Risk Factors' in our registration statements and annual reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no duty to update such information except as required under applicable law. To view the source version of this press release, please visit
Chicago Tribune
16-04-2025
- Politics
- Chicago Tribune
Letters: Republican spending cuts threaten my son David and other people who need Medicaid
Robin Hood took from the rich and gave to the poor. Congressional Republicans are now poised to play Reverse Robin Hood. Their budget committees are in the process of cutting $880 billion in spending, mostly from Medicaid, in order to offset tax cuts for billionaires and profitable corporations. Medicaid cuts would be devastating for some of the most vulnerable people in Illinois — individuals with intellectual disabilities. Because of a pre-birth brain injury, my adult son David requires 24/7 care. He lives in a Medicaid-funded group home and receives Medicaid-funded day training, both in Elgin. The federal government pays 51% of his service costs and Illinois, 49%. Any reduction in federal funding would strip away access to vital services David needs to live a full life in the community. Why are Republicans determined to hurt people who don't deserve it? So the richest Americans can own even more. There are 900 billionaires in the U.S., with a combined wealth of more than $5 trillion. Their riches have almost doubled in the last four years. You don't have to be a moral genius to know that it's just plain wrong to shred safety net programs that David relies on in order to give massive tax cuts to Elon Musk and Jeff Bezos. David isn't a number — he's a real person. Who will be hurt? Congressional legislators are in their home offices right now. Tell them to reject harmful cuts to Medicaid. — James B. Gould, Carpentersville Americans oppose cuts An overwhelming majority of Americans oppose cuts to critical programs including Medicaid, Social Security, Medicare, food assistance and K-12 education. That opposition extends across party lines, with more than 60% of Donald Trump voters opposing cuts to Medicaid. I have worked in health care as a crisis therapist for 20-plus years. I'm married to a union firefighter and am a mother of two teen boys. Education is the foundation of a healthy, successful society. Health care is a human right, and families struggling with an illness or disability need support — not worry over costs for care. — Heather Namors, Chicago Trickle-down failure So the House has voted to cut Medicaid and nutritional programs to make budget room for tax cuts for those with higher incomes. This is blatantly taking from the poor to give to the rich, denying those who need help in favor of those who don't. If you're thinking 'trickle-down,' think about whether it's ever worked in the 50 years or more the GOP has been pushing it. Here's a hint: No, it hasn't. One clear demonstration: In a highly visible test, the Kansas experiment of the previous decade nearly bankrupted the state and drove the governor out of office. Look it up. Whether it's driven by clueless detachment, simple selfishness, a 'because we can' power grab or cruelty for its own sake, this is simply wrong. And it's being done by government officials who are working to disenfranchise voters and support the kidnapping, deportation and incarceration of legal residents without due process. If you're not appalled, please explain. — Bill Page, Morton Grove Trump's tariff victory An April 10 headline in the Tribune print edition reads, 'Trump retreats on some tariffs.' Why can't the Tribune call it what it is — an evolving great victory on the part of President Donald Trump? Nearly 100 countries were hit with tariffs by Trump because of their tariffs against American products, often high and occasionally extreme. The intent was in part payback for the high tariffs imposed on us, but also to force trade negotiations that are more fair to and for America. According to the Trump administration, more than 75 countries came running to America wanting to negotiate fair or no tariffs with America. That is a major win for Trump and not retreating. Common sense. Trump is holding back on the tariffs for those countries to give them time to seek negotiations on a fair trade deal. That so far appears to be a major victory, not a retreat. — E L Foertsch, Chicago American manufacturing During the summer of 1964, I worked on the frying pan cover assembly line at the sprawling Sunbeam Corp. plant on Chicago's West Side where the majority of the inventory of Sunbeam products was produced and sent all over the country. My job involved taking a frying pan cover off a conveyor belt, using a press to punch a hole, attaching a fly wheel and returning the finished product to the conveyor belt. My fellow workers were good, hardworking neighbors including African Americans, refugees from Eastern Europe escaping the tyranny of the Soviet Union and workers from the mid-South (Kentucky and Tennessee) looking for better jobs in Chicago. Needless to say, today, those types of jobs would be performed by automation and robotics. Only 8% of our workforce is now employed in manufacturing; if my fellow workers from Sunbeam and I were looking for work this summer, we would probably look to the service industry (maybe hospitality careers), which now employs 80% of our workforce and especially those with limited job skills. No amount of tariffs, legislation and incentives from state and federal governments, and pressure on American industry, will bring back my job making frying pan covers. American manufacturing will look very different in the future and require new skills. And we need to raise salaries and benefits significantly for those in the service industry to provide fair compensation and dignity to today's employees like those I worked with at Sunbeam. — Alan Bergeson, Winfield Trump's reassurance I know I should feel good and not worry about our retirement funds because our president tells me these market conditions are temporary and soon I'll be rich. I would feel better if the president's resume didn't include six business bankruptcies and several fraud cases. If I were searching for a financial manager to handle my retirement savings, I don't think the president would get consideration. — Richard Schultz, Crete Judgment at the polls I am only 95 years old, but in my lifetime, I have never seen any presidential term of office where those in charge were not working for the betterment of our people and those we could help around the world. What we have seen since Jan. 20 is not only unprecedented; it is also despicable, unfortunate and illegal. Let us work toward a clean sweep. Get the rascals out and let us put people in office who care more about human needs than filling their coffers. — Ruth Rose, Glenview People have the power So the Republicans in the House and Senate are afraid of Elon Musk and his threats to primary them so they lose their seats. Perhaps they should fear the American people who have the power to vote them out. The protests indicate that we are well on our way to doing just that. Power to the people! — Kathye Boyle, Chicago
