SPI Energy Co., Ltd. [NASDAQ: SPI]
SPI Energy Co., Ltd., a world renewable energy company, and a manufacturer of electric vehicles and photovoltaic solutions for residential, business, logistics, government and utility clients announced today that its fully owned subsidiary, EdisonFuture will be signing a strategic cooperation framework agreement with China’s leading manufacturer of all-electric motor vehicles Tongjia. According to the agreement terms and conditions, the two signatories will work together to design, develop, produce and sell a new generation of smart electric logistics vehicles and electric trucks. Tongjia will be supplying parts to the EdisonFuture assembly plant in California where the vehicles will be assembled. The assembly will also include the installation of software.
Organogenesis Holdings Inc [NASDAQ: ORGO]
Organogenesis Holdings Inc., a medical company whose focus is on the development, manufacture, and sale of advanced wound care as well as surgical and sports medicine products released today a preliminary report of their financial results for the three months ending September 30, 2020. According to the report, the company has recorded an increase in net revenue from $64.3 million to $99 million. Sale of Advanced Wound Care products, Surgical & Sports Medicine, and Puraply have recorded an increase in sales contributing to the net sales. In the coming financial year, the company expects a rise in revenue by about 19% to 20%, which will be about $311 and $314 million. Following these projections, the company expects to report an increase in GAAP net income as well as a positive EBITDA for the three months ending December 31, 2020.
PREIT [NYSE: PEI]
PREIT an international operator of retail and experiential destinations announced yesterday that it has sign agreements with more than 80% of its bank lenders in a move that will see the company secure $150 million to revamp its business and prolong its debt maturity schedule. This loan will go into expanding the company’s operations and executing planned strategic activities. The company’s Chief Executive Officer Joseph Coradino said that they have been repositioning their business to strengthen their capital base by actively selling some of their assets and diversifying their tenant base in a bid to get more capital. They have now managed to secure the $150 million that will see them revamp their business and have financial flexibility.