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MCLEAN, VA / ACCESS Newswire / May 23, 2025 / Gladstone Investment Corporation (NASDAQ:GAIN) (“Gladstone Investment”) is pleased to announce its investment in Sun State Nursery & Landscaping, LLC (“Sun State”), in partnership with Everglades Equity, LLC. Gladstone Investment provided senior secured debt and equity in support of the transaction

Sun State, based in Jacksonville, Florida, is a leading commercial landscaping installation and maintenance provider in the Jacksonville area. “We are looking forward to working with Everglades, President Paul Kassab, and the team at Sun State to build on the company’s established reputation in the Jacksonville market. We look forward to supporting Sun State through its next phase of growth,” said Christopher Lee, Senior Managing Director of Gladstone Investment.

“We are thrilled to be adding another quality portfolio company to Gladstone Investment’s assets through this acquisition, as we expect it to produce both income for dividends to shareholders and longer-term capital appreciation for capital gains,” said David Dullum, President of Gladstone Investment.

Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments in lower middle market businesses in connection with acquisitions, changes in control, and recapitalizations. Additional information on the transaction can be found at www.gladstoneinvestment.com.

For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstone.com.

Forward-looking Statements:

The statements in this press release regarding the longer-term prospects of Gladstone Investment and Sun State and its management team, and the ability of Gladstone Investment and Sun State to grow and expand are “forward-looking statements.” These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on Gladstone Investment’s current plans that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from time to time in Gladstone Investment’s filings with the Securities and Exchange Commission. Gladstone Investment undertakes no obligation to update or revise these forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

For further information:

Gladstone Investment Corporation, (703) 287-5893

SOURCE: Gladstone Investment Corporation

View the original press release on ACCESS Newswire

ORLANDO, FL / ACCESS Newswire / May 23, 2025 / RedChip Companies will air interviews with FatPipe, Inc. (Nasdaq:FATN) and Foremost Clean Energy (Nasdaq:FMST) on the RedChip Small Stocks, Big Money™ show, a sponsored program on Bloomberg TV this Saturday, May 24, at 7 p.m. Eastern Time (ET). Bloomberg TV is available in an estimated 73 million homes across the U.S.

Access the interviews in their entirety at:

• FATN:https://www.redchip.com/assets/access/fatn_access

• FMST: https://www.redchip.com/assets/access/fmst_access

In an exclusive interview, Dr. Ragula Bhaskar, CEO of FatPipe, appears on the RedChip Small Stocks Big Money™ show on Bloomberg TV to discuss how the company is transforming enterprise connectivity through its patented, software-defined networking technologies. With a product suite spanning SD-WAN, Secure Access Service Edge (SASE), and Network Monitoring Services (NMS), FatPipe enables over 2,500 customers-including government agencies, financial institutions, and healthcare providers-to unify, secure, and optimize their networks across cloud, hybrid, and on-premise environments. Dr. Bhaskar highlights FatPipe’s robust financial performance, including $17.9 million in revenue and $4.4 million in net income for fiscal 2024, and outlines the company’s growth strategy focused on global expansion, product innovation, and deepening its high-margin, subscription-based revenue model. Positioned at the intersection of three multi-billion-dollar markets and operating as a “Rule of 40” business, FatPipe offers investors a compelling blend of profitability, scalability, and exposure to the accelerating digital infrastructure megatrend.

Jason Barnard, President and CEO of Foremost Clean Energy, appears on the RedChip Small Stocks Big Money™ show on Bloomberg TV to share the company’s strategic vision for advancing uranium exploration in the world-renowned Athabasca Basin. Barnard details Foremost’s expansive portfolio of 10 uranium properties spanning over 330,000 acres, including high-priority drill targets at Hatchet Lake and Murphy Lake South, where recent assays confirm strong mineralization and discovery potential. He also discusses the company’s transformational partnership with Denison Mines, which brings technical, financial, and strategic backing from a C$2.9 billion uranium leader with a 19.13% equity stake in Foremost. With nuclear energy gaining momentum as a critical clean power source-and global pledges to triple capacity by 2050-Foremost is uniquely positioned to benefit from structural supply deficits and surging demand. Barnard highlights the company’s fully funded 2025 exploration program, robust institutional backing, and dual exposure to uranium and lithium as key drivers of long-term shareholder value.

FATN and FMST are clients of RedChip Companies. Please read our full disclosure at https://www.redchip.com/legal/disclosures.

About FatPipe, Inc.

FatPipe pioneered the concept of software-defined wide area networking (SD-WAN) and hybrid WANs that eliminate the need for hardware and software or cooperation from ISPs and allows companies and service providers to control multi-link network traffic. FatPipe currently has 12 U.S. patents related to multipath, software-defined networking. FatPipe products are sold by 200+ resellers worldwide. For more information, visit www.fatpipeinc.com. Follow us on X @FatPipe_Inc.

To learn more, visit www.fatpipeinc.com or contact sales321@fatpipeinc.com.

About Foremost

Foremost Clean Energy Ltd. (NASDAQ:FMST)(CSE:FAT)(WKN:A3DCC8) is a rapidly growing North American uranium and lithium exploration company. The Company holds an option to earn up to a 70% interest in 10 prospective uranium properties (with the exception of the Hatchet Lake, where Foremost is able to earn up to 51%), spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin region of northern Saskatchewan. As the demand for carbon-free energy continues to accelerate, domestically mined uranium and lithium are poised for dynamic growth, playing an important role in the future of clean energy. Foremost’s uranium projects are at different stages of exploration, from grassroots to those with significant historical exploration and drill-ready targets. The Company’s mission is to make significant discoveries alongside and in collaboration with Denison through systematic and disciplined exploration programs.

Foremost also has a portfolio of lithium projects at varying stages of development, which are located across 55,000+ acres in Manitoba and Quebec. For further information, please visit the Company’s website at www.foremostcleanenergy.com.

About RedChip Companies

RedChip Companies, an Inc. 5000 company, is an international investor relations, media, and research firm focused on microcap and small-cap companies. For 33 years, RedChip has delivered concrete, measurable results for its clients. Our newsletter, Small Stocks, Big Money™, is delivered online weekly to 60,000 investors. RedChip has developed the most comprehensive service platform in the industry for microcap and small-cap companies. These services include the following: a worldwide distribution network for its stock research; retail and institutional roadshows in major U.S. cities; outbound marketing to stock brokers, RIAs, institutions, and family offices; a digital media investor relations platform that has generated millions of unique investor views; investor webinars and group calls; a television show, Small Stocks, Big Money™, which airs weekly on Bloomberg US; TV commercials in local and national markets; corporate and product videos; website design; and traditional investor relation services, which include press release writing, development of investor presentations, quarterly conference call script writing, strategic consulting, capital raising, and more. RedChip also offers RedChat™, a proprietary AI-powered chatbot that analyzes SEC filings and corporate disclosures for all Nasdaq and NYSE-listed companies, giving investors instant, on-demand insights.

To learn more about RedChip’s products and services, please visit:

https://www.redchip.com/corporate/investor_relations

“Discovering Tomorrow’s Blue Chips Today”™

Follow RedChip on LinkedIn: https://www.linkedin.com/company/redchip/

Follow RedChip on Facebook: https://www.facebook.com/RedChipCompanies

Follow RedChip on Instagram: https://www.instagram.com/redchipcompanies/

Follow RedChip on Twitter: https://twitter.com/RedChip

Follow RedChip on YouTube: https://www.youtube.com/@redchip

Follow RedChip on Rumble: https://rumble.com/c/c-3068340

Subscribe to our Mailing List: https://www.redchip.com/newsletter/latest

Contact:

Dave Gentry
RedChip Companies Inc.
1-407-644-4256
info@redchip.com

–END–

SOURCE: RedChip Companies, Inc.

View the original press release on ACCESS Newswire

• bGen™ thermal energy storage system to be charged using renewable energy to store and provide 56 MWh of clean heat for green e-methanol production at SolWinHy Cadiz S.L.

• SolWinHy selected as one the European Union’s top green hydrogen projects with plans to deliver 6,500 tons of green hydrogen annually for 30,000 tons of green e-methanol, 100% renewable energy from off-grid solar and wind, and sustainable water sourced from local waste water plant

• Project demonstrates the potential of hydrogen and e-fuels to decarbonize the European Union’s industrial, power generation, and transportation sectors

• Project is part of Brenmiller Europe’s $200 million pipelineof commercial opportunities that are advancing toward funding and implementation

MADRID, SPAIN / ACCESS Newswire / May 23, 2025 / Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy” or the “Company”) (Nasdaq:BNRG), a leading global provider of thermal energy storage (“TES”) solutions for industrial and utility customers, announced today that the European Hydrogen Bank, has granted SolWinHy Cádiz S.L. (the “SolWinHy Project”) in Arcos de la Frontera, Spain, €25 million in funding. From the total project CAPEX, €7 million are earmarked for Brenmiller’s bGen™ TES. The project is slated to commence in the first quarter of 2026 when Brenmiller expects to receive a purchase order for the bGen™ andassociated services.

SolWinHy is a special purpose company jointly owned by leading renewable energy developers Green Enesys Group (“Green Enesys”) and Viridi RE (“Viridi”) to build new green hydrogen and green e-methanol projects in Europe. Green Enesys and Viridi are Brenmiller’s joint venture partners in Brenmiller Europe S.L. (“Brenmiller Europe”) which currently has a growing project pipeline of commercial opportunities valued at over $200 million.

“We believe that this +€25 million project funding from the European Hydrogen Bank is a strong validation of bGen™’s critical place in Europe’s clean energy ecosystem and demonstrates the value of our industry-leading TES technology globally” stated Brenmiller’s Chairman and Chief Executive Officer, Avi Brenmiller. “We’ve worked diligently with our partners Green Enesys and Viridi to complete the front-end engineering and design that led to the financing of the SolWinHy Project. This is a model for how we plan to roll out potentially up to $200 million worth of projects in Europe, by leveraging project financing and collaborations, as Brenmiller generates upfront and recurring revenues delivering bGen™ systems, services, and technology licensing.”

José Luis Morán, Green Enesys and Viridi’s Integrated Energy Solutions director added, “Brenmiller’s bGen™ is an essential part of making SolWinHy one of the EU’s top green hydrogen projects and was a key component in securing this funding, without the bGen™ the project could not operate off-grid, using only renewable electricity. As a partner in Brenmiller Europe, we expect several other potential bGen™ projects to rapidly advance toward funding and implementation as the EU prioritizes achieving its clean energy goals.”

Green e-methanol, a clean energy source, is produced from hydrogen that is sourced from renewable electricity and captured biogenic carbon dioxide. The SolWinHy Project is being designed to produce over 30,000 tons of green e-methanol per year and will incorporate 54 MWh of wind and 130 MWp of photovoltaic electricity production disconnected from the electrical grid, generating power exclusively from renewable energy with no impact on Spain’s national grid. The SolWinHy Project is expected to integrate bGen™ thermal energy storage capabilities with a 56 MWh capacity.

About SolWinHy

SolWinHy Cádiz is an innovative green methanol production plant located in Arcos de la Frontera, Cádiz, Spain. As the first project in a series aimed at advancing renewable energy, this facility is set to produce 30,000 tons of E-Methanol annually. The plant is powered entirely by renewable energy, utilizing a 130 MW solar PV installation and a 54 MW wind farm. This setup allows the facility to operate independently of the national grid in island mode, ensuring that all hydrogen and methanol production is 100% renewable. An 80 MW electrolyzer generates green hydrogen, which is combined with biogenic CO₂ to produce methanol. The project is situated on 463 hectares of agricultural land, secured through a 35-year lease with the option to extend for an additional five years. SolWinHy Cádiz is strategically positioned to supply green methanol to Germany, with advanced negotiations already underway with potential off-takers.

For more information about the project and Brenmiller Energy’s latest updates, please visit www.bren-energy.com.

About bGen™

bGen™ ZERO is Brenmiller’s TES system, which converts electricity into heat to power sustainable industrial processes at a price that is competitive with natural gas. The bGen™ ZERO charges by capturing low-cost electricity from renewables or the grid and stores it in crushed rocks. It then discharges steam, hot water, or hot air on demand according to customer requirements. The bGen™ ZERO also supports the development of utility-scale renewables by providing critical flexibility and grid-balancing capabilities. bGen™ ZERO was named among TIME’s Best Inventions of 2023 in the Green Energy category and won Gold in the Energy Storage and Management category at the 2025 Edison Awards.

About Brenmiller Energy Ltd.

Brenmiller Energy helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller’s patented bGen™ ZERO thermal battery is a modular and scalable energy storage system that turns renewable electricity into zero-emission heat. It charges using low-cost renewable electricity and discharges a continuous supply of heat on demand and according to its customers’ needs. The most experienced thermal battery developer on the market, Brenmiller operates the world’s only gigafactory for thermal battery production and is trusted by leading multinational energy companies. For more information visit the Company’s website at https://bren-energy.com/ and follow the company on X and LinkedIn.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the company is using forward-looking statements in this press release when it discusses: the SolWinHy project and its expected integration of bGen™ thermal energy storage capabilities with a 56 MWh capacity; SolWinHy Project plans to produce 6,500 tons of green hydrogen annually to generate 3′,000 tons of green e-methanol using 100% renewable energy from solar and wind and sustainable water sourced from local wastewater reuse; bGen™ TES deployment scheduled to commence in Q1 2026, subject to receipt of purchase order for system and associated services;; Brenmiller Europe’s growing commercial project pipeline valued at over $200 million advancing toward funding and implementation through strategic collaborations and project financing; and SolWinHy’s renewable power generation designed to include 54 MW of wind and 130 MWp of photovoltaic electricity disconnected from the national grid. Without limiting the generality of the foregoing, words such as “plan,” “project,” “potential,” “seek,” “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” are intended to identify forward-looking statements. Readers are cautioned that certain crucial factors may affect the company’s actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company’s results include, but are not limited to: the company’s planned level of revenues and capital expenditures; risks associated with the adequacy of existing cash resources; the demand for and market acceptance of our products; impact of competitive products and prices; product development, commercialization or technological difficulties; the success or failure of negotiations; trade, legal, social and economic risks; and political, economic and military instability in the Middle East, specifically in Israel. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the company, including those set forth in the Risk Factors section of the company’s Annual Report on Form 20-F for the year ended December 31, 2024 filed with the SEC on March 4, 2025, which is available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact:

investors@bren-energy.com

SOURCE: Brenmiller Energy Ltd.

View the original press release on ACCESS Newswire

From Common Myths to Smart Solutions, Clear Start Tax Explains How to Handle IRS Debt the Right Way

IRVINE, CA / ACCESS Newswire / May 23, 2025 / Owing money to the IRS can feel overwhelming, and confusion about what to do often leads taxpayers to make costly mistakes. According to Clear Start Tax, a trusted tax resolution firm, many people fall victim to common myths or make panic-driven decisions that worsen their situation.

Whether it’s ignoring IRS notices, falling for false promises, or assuming there are no options, misunderstanding how IRS debt works can quickly escalate to wage garnishments, levies, or liens. Clear Start Tax is working to educate taxpayers on what’s true, what’s not, and how to take the right steps toward resolution.

Common Myths About Owing the IRS

Many taxpayers delay action because they believe misinformation or rely on assumptions about how the IRS operates. These myths can lead to inaction-or worse, decisions that trigger enforcement. Clear Start Tax highlights some of the most common misconceptions that often cause taxpayers to miss out on relief opportunities or face avoidable penalties:

• “If I ignore it, the IRS will leave me alone.”
  The IRS never forgets-and ignoring notices accelerates enforcement.

• “I shouldn’t file if I can’t afford to pay.”
  Not filing triggers additional penalties, even if you owe nothing upfront.

• “Tax relief is only for people in extreme hardship.”
  Many taxpayers qualify for relief programs without being in financial crisis.

• “I can negotiate directly with the IRS without risk.”
  A single error on financial forms can lead to denial, delays, or tougher terms.

“The biggest mistake we see is taxpayers believing they have no options-or believing the wrong ones,” said the Head of Client Solutions at Clear Start Tax. “Understanding the facts is the first step to avoiding serious consequences.”

Step-by-Step: How to Start Resolving IRS Debt the Right Way

Once taxpayers understand what not to believe, the next challenge is knowing where to begin. The IRS does offer programs to help, but they require proactive effort and accurate information. Clear Start Tax recommends following these essential steps to avoid enforcement and move toward a manageable resolution:

• Open Every IRS Letter – Important deadlines and warnings are often missed

• File All Outstanding Returns – Staying current is critical, even without payment

• Review Your Finances Honestly – Know what you can actually afford

• Explore IRS Programs – Options like Offer in Compromise, Installment Agreements, or CNC status can offer real relief

• Consult a Licensed Tax Professional – Expert guidance prevents errors and maximizes your chances of approval

“The IRS provides relief options, but navigating them correctly is critical,” added the Head of Client Solutions at Clear Start Tax. “We help taxpayers avoid costly mistakes and ensure they get the best possible outcome.”

Clear Start Tax: Guiding Taxpayers Away From Mistakes-and Toward Relief

Successfully resolving IRS debt isn’t just about knowing what options exist-it’s about avoiding missteps and following the right process from start to finish. Many taxpayers lose time, money, or face enforcement simply because they misunderstood IRS procedures or submitted incomplete information. Clear Start Tax provides the expertise and support needed to navigate complex tax issues confidently and efficiently.

• IRS notice review and strategic next steps

• Application support for relief programs like OIC and CNC

• Customized payment solutions based on real financial situations

• Direct IRS communication to prevent enforcement actions

About Clear Start Tax

Clear Start Tax is a full-service tax liability resolution firm that serves taxpayers throughout the United States. The company specializes in assisting individuals and businesses with a wide range of IRS and state tax issues, including back taxes, wage garnishment relief, IRS appeals, and offers in compromise. Clear Start Tax helps taxpayers apply for the IRS Fresh Start Program, providing expert guidance in tax resolution. Fully accredited and A+ rated by the Better Business Bureau, the firm’s unique approach and commitment to long-term client success distinguish it as a leader in the tax resolution industry.

Need Help With Back Taxes?

Click the link below:
https://clearstarttax.com/qualifytoday/

Contact Information

Clear Start Tax
Corporate Communications Department
seo@clearstarttax.com
(949) 535-1627

SOURCE: Clear Start Tax

View the original press release on ACCESS Newswire

Top-to-Top Conversation Details Further Integration Planning Following Strong Q1 Earnings Report

AUSTIN, TEXAS / ACCESS Newswire / May 23, 2025 / Interactive Strength Inc. (Nasdaq:TRNR) (“TRNR” or the “Company”), maker of innovative specialty fitness equipment under the CLMBR and FORME brands and pending acquirer of Sportstech and Wattbike, today announced the publication of a shareholder update and Q&A conversation with TRNR Founder & CEO Trent Ward and Wattbike CEO Stephen Loftus.

The candid discussion – now available on the Company’s investor website – provides new details on the companies’ integration progress, how Wattbike and Sportstech will collaborate on go-to-market planning in the UK and US, tech and data advantages that both bring to each other and TRNR, and cross-channel selling including on Amazon.

“Leading up to the formal completion of our transformational acquisitions, investors should continue to have confidence in our growth, success and potential as a company,” said Mr. Ward. “This update provides further concrete confirmation in the immediate, specific business initiatives underway right now across all three companies that we expect will create shareholder value.”

Read the full update on our investor website.

TRNR Investor Contact
ir@interactivestrength.com

TRNR Media Contact
john@sintercompany.com

View the original press release on ACCESS Newswire

Epique Realty Recognized in Premier Global Business Awards Program for Exceptional Performance

HOUSTON, TX / ACCESS Newswire / May 22, 2025 / The 2025 Globee® Awards for Artificial Intelligence is an esteemed program dedicated to honoring groundbreaking achievements and celebrating excellence and innovation across the international AI industry.

Epique Realty and CEO Joshua Miller are happy to announce that together they have been named winners of seven awards at the 2025 Globee® Awards for Artificial Intelligence, one of the world’s premier data-driven business awards programs. This recognition underscores Epique’s dedication to pushing the boundaries of what’s possible with artificial intelligence.

Empowering agents. Epique Realty’s integrated AI solutions are transforming real estate. Epique is committed to delivering innovative, agent-centric solutions that drive business value and set new industry standards.

Epique received these 2025 Globee® Awards for Artificial intelligence specifically for empowering agents as Epique’s integrated AI solutions are transforming real estate. The following seven winners were awarded:

2025 Silver Globee® Winners

• Epique AIPRO and integrated AI solutions, Real Estate AI Solutions

• Epique AIPRO, Most Innovative AI Product for Real Estate

2025 Bronze Globee® Winners

• Epique Realty, Best Achievement in AI Operations

• Joshua Miller, Epique Realty

  1. AI Thought Leadership of the Year

  2. AI Expertise Achievement

  3. AI Technology Leadership Achievement

  4. AI Leadership Achievement

“Winning the 2025 Globee Awards for AI means we’re delivering on the promise,” declared Joshua Miller, CEO and Co-Founder of Epique Realty. “We’ve always believed that technology, especially AI, should be a powerful force for good, something that truly changes the equation. This incredible recognition for Epique is a bright, shining signal that our commitment to real-world impact for our agents and their clients to building AI that genuinely creates extraordinary and lasting value, is not just a vision – it’s a reality. We’re not only building tools; we’re building the future.”

Janice Delcid, CFO and Co-Founder of Epique, was enthusiastic, “We are so proud of Josh and our Epique AI team for these outstanding awards. This recognition acknowledges Josh’s innovative and visionary leadership. It includes Epique’s focus on agent well-being and success. Epique Realty offers a range of benefits at no cost to agents, including healthcare, vision and dental coverage, and essential business tools like CRM access and personalized marketing materials. Through strategic partnerships with industry leaders, Epique Realty has created a support system that agents have reported saving $30,000 annually while improving business performance.”

Epique AIPRO, Epique.ai and Epique’s integrated AI solutions exemplify the company’s dedication to democratizing success for agents, offering them powerful AI tools to streamline everyday tasks, from generating property descriptions to executing strategic marketing campaigns. Recognized as the #1 AI tool for real estate agents by publications like Ascendix and Real Trends, Epique.ai brings natural language processing capabilities to agents’ fingertips, helping them focus more on client relationships and closing deals.

“Epique Realty’s rapid expansion and dedication to agent success highlight the effectiveness of Epique’s visionary strategy,” states Christopher Miller, COO and Co-Founder of Epique. “By integrating innovative technology with an agent-focused model, Epique has not only disrupted the conventional brokerage landscape but has also set a precedent for the future of real estate, showcasing that a brokerage can be both transformative and empowering.”

“Moreover, Epique Realty is raising the bar and setting the pace for transformation. The company’s amazing growth is a direct result of its steadfast commitment to its agents. As Epique Realty invites ambitious agents ready to redefine their careers and embrace the future of real estate to join the revolution,” concludes COO and Co-Founder Christopher Miller.

The Globee® Awards for Artificial Intelligence honor organizations, products, teams, and individuals leading the way in AI innovation. From breakthrough AI models and intelligent automation to transformative use cases in healthcare, finance, security, and more, these awards spotlight those making the most significant impact through artificial intelligence.

Over 2,995 judges from around the world, representing a diverse array of industry experts, applied for the judging process. The final judges are listed here: https://globeeawards.com/artificial-intelligence/judges, Judges evaluate nominations based on four key criteria: Achievement, Main Content, Summary, and Supporting Materials. This systematic approach guarantees consistent, transparent, and high-quality evaluations, making it a trusted benchmark for recognizing excellence worldwide.

“The 2025 winners reflect the innovation and forward-thinking mindset needed to lead in AI today,” said San Madan, President of the Globee® Awards. “With over 2,995 professionals globally participating in data-driven evaluations, this recognition truly represents industry-wide respect and validation.”

The Globee® Awards present recognition in ten programs and competitions. To learn more about the Globee Awards, please visit the website: https://globeeawards.com. All trademarks belong to their respective owners.

About Epique Realty
Epique Realty is redefining the real estate brokerage with its groundbreaking agent-first model. By providing agents with exceptional tools, state-of-the-art AI technology, unheard of benefits and comprehensive support at no cost, Epique empowers agents to thrive and succeed in today’s competitive market. With a solid foundation of inclusion, innovation, mentorship, and integrity, Epique Realty is one of the fastest-growing real estate brokerages in the country. #BeEpique

Barbara Simpson | PR and Communications
281-773-7842 | Barbara@EpiqueRealty.com

https://www.instagram.com/epiquerealty/
https://www.facebook.com/epiquerealty
https://www.linkedin.com/company/epique-realty/mycompany/
https://www.youtube.com/@epiquerealty

SOURCE: Epique Realty

View the original press release on ACCESS Newswire

NEW YORK CITY, NEW YORK / ACCESS Newswire / May 22, 2025 / New to The Street, one of the nation’s most widely viewed business media platforms, has announced a high-profile partnership with Skip Barber Racing School, America’s premier motorsports education brand, and Stables Motor Condos, Georgia’s elite luxury garage community.

Together, these three brands will deliver a bold, multi-channel initiative that merges premium driving experiences, private garage ownership, and national media exposure. The collaboration will connect motorsports enthusiasts, car collectors, and investors through a shared passion for performance, lifestyle, and visibility.

“This partnership goes beyond brand synergy-it’s about unlocking unforgettable experiences for our owners,” said Jeff Beal, Managing Partner at Stables Motor Condos. “With Skip Barber Racing School and New to The Street, we’re offering more than garages-we’re offering gateways to adrenaline, learning, and community.”

Key Elements of the Strategic Partnership:

• National Television Exposure through New to The Street’s sponsored programming on Bloomberg and FOX Business

• Exclusive Member Access to Skip Barber Racing School discounts for Stables garage owners

• Signature Events, including “Racer’s Chat” sessions with professional drivers and “Ladies, Ditch Your Heels & Grab Your Wheels” performance driving clinics

• Branded Showcase Garage with Skip Barber Racing features inside the Stables model experience

• Monthly Lifestyle Features published across New to The Street and Stables media channels

• Complimentary Driving Experiences for new garage buyers, providing access to the track from day one

“We’re excited to bring the thrill of the track to the heart of the Stables community,” said Michael Berg, Chief Financial Officer at Skip Barber Racing School. “This partnership strengthens the bridge between performance driving and premium garage ownership-two passions that naturally belong together.”

The initiative launches this quarter, with the first wave of VIP and women-led track events rolling out this summer. Additional co-branded experiences and integrated media activations will extend throughout 2025.

About New to The Street

New to The Street is a nationally syndicated media platform spotlighting public and private companies through CEO interviews, investor segments, and brand storytelling. With over 2.51 million YouTube subscribers and a growing social community of 714,000+ followers across X, LinkedIn, Instagram, and Facebook, the platform delivers unmatched visibility across digital and broadcast media.

As sponsored programming on FOX Business and Bloomberg Television, New to The Street showcases the companies shaping tomorrow’s economy. Clients also benefit from weekly placements on iconic Times Square billboards and the highest volume of TV commercials across CNBC, FOX Business, and Bloomberg of any financial media company-making it the definitive media engine for exposure, trust, and market reach.

Media Contacts

Jeff Beal
Managing Partner
Stables Motor Condos
jeff@stablesmotorcondos.com | 678.793.8402

Michael Berg
Chief Financial Officer
Skip Barber Racing School
michael.berg@skipbarber.com | 516.428.2555

Monica Brennan
Director, Media Relations
New to The Street
monica@newtothestreet.com

SOURCE: New To The Street

View the original press release on ACCESS Newswire

TORONTO, ON / ACCESS Newswire / May 22, 2025 / Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF)(FRA:BAI0) (“Cerrado” or the “Company“) announces that it will file its first quarter 2025 financial results on May 29, 2025, before the market opens. Financial results will be posted on SEDAR+ (www.sedarplus.com) under Cerrado’s issuer profile and on the Company website at www.cerradogold.com.

Conference Call Details

Cerrado Management will also host a conference call on May 29, 2025, at 11:00 AM ET to discuss the Q1 Financial and Operational results as well as the outlook for the Company. The accompanying presentation for the call can be found on the investor page on Cerrado Gold’s website at cerradogold.com. Call details are as follows:

Pre-Registration for Conference Call

Participants can preregister for the conference by navigating to:

https://dpregister.com/sreg/10200183/ff3862e66f

Participants will receive dial-in numbers to connect directly upon registration completion.

Those without internet access or unable to pre-register may dial in by calling:

PARTICIPANT DIAL IN (TOLL FREE): 1-833-752-3576

PARTICIPANT INTERNATIONAL DIAL IN: 1-647-846-8340

About Cerrado

Cerrado Gold is a Toronto-based gold production, development, and exploration company. The Company is the 100% owner of the producing Minera Don Nicolás and Las Calandrias mine in Santa Cruz province, Argentina. In Portugal, the Company holds an 80% interest in the highly prospective Lagoa Salgada VMS project through its position in Redcorp – Empreendimentos Mineiros, Lda. In Canada, Cerrado Gold is developing its 100% owned Mont Sorcier Iron project located outside of Chibougamou, Quebec.

In Argentina, Cerrado is maximizing asset value at its Minera Don Nicolas operation through continued operational optimization and is growing production through its operations at the Las Calandrias heap leach project. An extensive campaign of exploration is ongoing to further unlock potential resources in our highly prospective land package in the heart of the Deseado Masiff.

In Portugal, Cerrado focused on the exploration and development of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal. The Lagoa Salgada project is a high-grade polymetallic project, demonstrating a typical mineralization endowment of zinc, copper, lead, tin, silver, and gold. Extensive exploration upside potential lies both near deposit and at prospective step-out targets across the large 7,209-hectare property concession. Located just 80km from Lisbon and surrounded by exceptional infrastructure, Lagoa Salgada offers a low-cost entry to a significant exploration and development opportunity, already showing its mineable scale and cashflow generation potential.

In Canada, Cerrado holds a 100% interest in the Mont Sorcier Iron project, which has the potential to produce a premium iron ore concentrate over a long mine life at low operating costs and low capital intensity. Furthermore, its high grade and high purity product facilitates the migration of steel producers from blast furnaces to electric arc furnaces, contributing to the decarbonization of the industry and the achievement of sustainable development goals.

For more information about Cerrado please visit our website at: www.cerradogold.com.

Mark Brennan
CEO and Chairman

Mike McAllister
Vice President, Investor Relations
Tel: +1-647-805-5662
mmcallister@cerradogold.com

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE: Cerrado Gold Inc.

View the original press release on ACCESS Newswire

NEW YORK CITY, NY / ACCESS Newswire / May 22, 2025 / Luminar Technologies (NASDAQ:LAZR), a leading global automotive technology company, today announced it has entered into a definitive agreement with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, and another accredited investor to issue up to $200 million of convertible preferred stock to the investors in registered direct offerings over an 18-month period.

“Today’s transaction provides us with additional financial flexibility and further strengthens our balance sheet,” said Tom Fennimore, Chief Financial Officer of Luminar. “We’ve made substantial progress in extending our liquidity runway with our restructuring efforts, and the additional capital available to us under this facility provides us with another tool to realize our long-term value.”

Under the terms of the agreement, Luminar has issued $35 million in stated value of convertible preferred stock to the investors at initial closing, and may subsequently issue additional tranches of convertible preferred stock to the investors in amounts of up to $35 million not more than every 60 days (or 90 days if the prior tranche was more than $25 million), at a purchase price equal to 96% of the stated value of the convertible preferred stock. Issuances are subject to specified closing conditions, including certain conditions based on the trading price and volume of the company’s shares of common stock and the company’s continued compliance with the terms of the preferred stock. Luminar has no obligation to issue additional convertible preferred stock to the investors at any time after the initial closing. The proceeds from the initial $35 million issuance are expected to be used for general corporate purposes and debt retirement.

The terms, rights, obligations, and preferences of the convertible preferred stock, including voluntary conversion and redemption provisions, as well as beneficial ownership and voting restrictions and share cap limitations, were set forth in a certificate of designations filed with the Delaware Secretary of State prior to the initial closing. The convertible preferred stock will be convertible, at the holder’s option at any time, subject to certain exceptions as will be set forth in the certificate of designations, into shares of the company’s Class A common stock. The convertible preferred stock will rank junior to the company’s existing first and second lien senior secured and any unsecured debt. Under the terms of the certificate of designations for the convertible preferred stock, the company will be subject to covenants substantially consistent with those in the company’s senior secured debt, among other provisions.

D. Boral Capital LLC acted as the exclusive placement agent for the placement of the convertible preferred stock.

Additional details regarding the transaction were made available in a Form 8-K to be filed with the U.S. Securities and Exchange Commission.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities 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 Luminar

Luminar is a global automotive technology company ushering in a new era of vehicle safety and autonomy. For the past decade, Luminar has built an advanced hardware and software/AI platform to enable its various partners, ranging from Volvo Cars and Mercedes-Benz to NVIDIA and Mobileye, to develop and deploy the world’s most advanced passenger vehicles. Following the launch of the Volvo EX90 as the first global production vehicle to standardize its technology, Luminar is poised to lead the industry in enabling next-generation safety and autonomous capabilities for global production vehicles. For more information, please visit www.luminartech.com.

About D. Boral Capital

D. Boral Capital LLC is a premier, relationship-driven global investment bank headquartered in New York. The firm is dedicated to delivering exceptional strategic advisory and tailored financial solutions to middle-market and emerging growth companies. With a proven track record, D. Boral Capital provides expert guidance to clients across diverse sectors worldwide, leveraging access to capital from key markets, including the United States, Asia, Europe, the Middle East, and Latin America.

A recognized leader on Wall Street, D. Boral Capital has successfully aggregated approximately $30 billion in capital since its inception in 2020, executing ~350 transactions across a broad range of investment banking products.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “aims,” “believe,” “may,” “will,” “estimate,” “set,” “continue,” “towards,” “anticipate,” “intend,” “expect,” “should,” “would,” “forward,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements are based on expectations and assumptions by the Company management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated, including but not limited to whether the Company will consummate the financing on the expected terms or at all, which could differ or change based upon market conditions or for other reasons. More information on these risks and other potential factors that could affect the Company’s business is included in the Company’s periodic filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s reports on Form 10-K and Form 10-Q, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and subsequent reports filed with the SEC. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date they are made.

For more information, please contact:

D. Boral Capital LLC
Email: info@dboralcapital.com
Telephone: +1 (212) 970-5150

SOURCE: D. Boral Capital

View the original press release on ACCESS Newswire

Askeladden Capital Shares Plan to Maximize Shareholder Value, Including Specific Operational Improvements Based on Extensive Primary Research

Transdigm’s May 2025 Acquisition of Public Aerospace Component Company Servotronics At 274% Premium Highlights Potential to Unlock Value at AstroNova Through Comprehensive Evaluation of Strategic Alternatives

CEO Greg Woods and Lead Independent Director Richard Warzala Were Colleagues In the 1990s; Long-Standing Relationships May Compromise Board Independence

AstroNova Has Suffered Severe and Persistent Shareholder Value Destruction Under Five Long-Tenured Board Members; Recent Statements Demonstrate Lack of Commitment to Shareholder Value

FORT WORTH, TX / ACCESS Newswire / May 22, 2025 / Askeladden Capital Management LLC

To AstroNova Shareholders,

I write to you as the portfolio manager of Askeladden Capital (collectively, “we”), which on behalf of our clients is the largest shareholder of AstroNova, owning approximately 9.2% of the shares. We recently filed our definitive proxy statement for the upcoming annual shareholder meeting scheduled for July 9th. You will soon receive these materials by mail and electronically through your broker.

The company callously suggests that you “disregard and discard” Askeladden’s GOLD proxy card.¹ We make no such recommendation about the company’s card.

Instead, we encourage you to make your own decision about who has the better plan, motivation, and capability to deliver value for all long-suffering shareholders of AstroNova. We encourage you to compare AstroNova’s recent financial results and long-term track record of shareholder value destruction with Askeladden’s rigorous analysis, including the plan we present below. We encourage you to speak to AstroNova’s management and Board as well as the Askeladden nominees, and ask each of us detailed, candid questions. In fact, on June 12^th at 11 AM ET, we plan to host a virtual town hall meeting for AstroNova shareholders to interact directly with our nominees. More details will follow, but for now, please save the date.

If and when elected, we will work tirelessly to maximize the value of your investment. We will solicit and incorporate your feedback about how to improve AstroNova. We do not have a monopoly on good ideas, and sincerely look forward to hearing yours.

This letter has two sections:

1. Askeladden’s plan to maximize value at AstroNova, including a clear explanation of the research backing the plan, and how our nominees’ specific and relevant expertise is critical to executing this plan. A very comparable transaction from earlier this week, Servotronics, highlights the potential value at AstroNova with better leadership.

2. Analysis of the shareholder value destruction that has occurred under the tenure of current directors Mr. Quain, Mr. Woods, Mr. Warzala, Ms. Schlaeppi, and Mr. Michas, with emphasis on longstanding relationships among certain of these Board members that calls into question their independence and objectivity. We also address some of the recent misleading claims made by these Board members, providing shareholders with important context, from the company’s own disclosures, that the company omitted.

SECTION 1: ASKELADDEN’S PLAN TO MAXIMIZE VALUE AT ASTRONOVA

1.1 Background to the Plan

AstroNova’s recent letter to shareholders falsely states “[Mr. Patel] has failed to provide concrete or additive ideas to unlock value for AstroNova.”² In fact, Askeladden has engaged with AstroNova on numerous occasions since 2023, seeking to understand the root causes of performance challenges and suggest responses.

In March, when we began to express our concerns and suggestions more forcefully, the company eventually simply stopped responding to our emails rather than attempting to engage with us. We then reluctantly began this proxy contest. The company’s proxy statement discloses that it has already spent $200,000 of shareholder money and anticipates a total expenditure of $1,000,000.³ Not once did the company even attempt to avoid such expenditure by addressing our concerns privately, even though we repeatedly requested them to do so. The company’s own proxy materials disclose that on March 21, 2025, when I submitted the nomination packet at company headquarters, “Mr. Patel requested to have a cup of coffee with [Chief Financial Officer] Mr. DeByle, and Mr. DeByle declined.” ⁴ Therefore, we humbly submit that a more accurate version of this statement might read: “AstroNova has failed to engage with Askeladden’s concrete and additive ideas to unlock value.”

Before publicly presenting a detailed plan, we took the time to conduct thorough due diligence of AstroNova’s operations and competitive position – something we believe is the fiduciary duty of a public-company Board, and something we believe the incumbent Board failed to do prior to consummating the MTEX acquisition. AstroNova recorded a $13.4 million impairment charge on MTEX less than a year after purchasing it for $18.7 million in cash and assuming certain MTEX debt, and discontinued 70% of the company’s product portfolio.⁵

Askeladden has researched AstroNova since 2016 and continuously been a 5% shareholder since 2020. Recently, we have developed an even deeper and broader understanding of AstroNova’s business by speaking to fifteen individuals with directly relevant expertise. We sought to understand the root causes of AstroNova’s challenges, as well as industry best practices.

These interviews have been extremely informative. For example, CEO Greg Woods frequently touts the “AstroNova Operating System” in conference calls and presentations, including referencing it during the most recent quarterly call in April 2025 as the path to fixing MTEX and driving strong returns on investment.⁶ Yet a former AstroNova employee who worked for the company for over four years, who managed a key integration project and was subsequently hired into Director / VP of Operations positions at two other companies, stated, verbatim:

“I don’t remember the AstroNova Operating System per se, which means that it didn’t stick out significantly to me in my career. I’m not going to say it was nothing, but it certainly wasn’t memorable.” ⁷

Other individuals whom we interviewed had backgrounds including, but not limited to:

• Managers at printhead technology providers such as Memjet and Epson who directly interacted with AstroNova (one also directly interacted with MTEX);

• C-level executives and key leaders at industrial printing peers such as Domino and Markem-Imaje, who oversaw significant growth or transformation of those businesses;

• A former sales representative and former sales executive at AstroNova, and a current customer whom they served;

• The principal of a private equity firm which thoroughly evaluated MTEX as a potential investment, as well as a former MTEX employee directly reporting to MTEX CEO Eloi Ferreira at the time of AstroNova’s acquisition

In the coming weeks, we will publish more comprehensive analysis of AstroNova’s performance and the best path forward based on these expert insights, with direct excerpts from transcribed interviews available to subscribers of platforms such as Tegus and In Practise.

Our research leads us to believe that AstroNova lacks a culture of accountability, has a dated business strategy in need of significant modernization, is overly reliant on its plan to utilize MTEX’s technology, and is missing key opportunities to better reach and serve its customers.

Our plan will leverage our nominees’ specific and relevant expertise to address the various issues that have arisen repeatedly in our research. We aim to move AstroNova’s strategy closer to best practices successfully utilized by peers. Unlike AstroNova’s existing management and Board, who seem resistant to feedback, we will remain data-driven, nimble, and open to new ideas.

Below is our three-part framework.

An important caveat: We are seeking five out of the six board seats up for election this year. Thus, if only one or two of the Askeladden nominees should be elected, there can be no guarantee that those directors would be able to implement the actions that Askeladden believes are necessary to unlock shareholder value. Whatever the outcome, each of the Askeladden nominees would, in elected, act as a fiduciary for shareholders and seek to work with other members of the Board to evaluate all opportunities to enhance shareholder value.

1.2: First 60 Days: Implement Culture of Accountability, Upgrade Executive Talent, and Improve Margins and Cash Conversion

Given AstroNova’s margin degradation since FY2024, limited availability under its revolving credit facility,⁸ and the volatile macroeconomic environment, our immediate priority during the first 60 days will be driving rapid improvement in gross and EBITDA margins as well as cash conversion, to maximize free cash flow generation. We will also seek to upgrade talent throughout the organization wherever needed, promoting or hiring individuals with a demonstrated history of excellence in rapidly meeting or exceeding targets.

We will implement an incentives-driven culture of accountability to drive operating results and shareholder value. Immediate priorities will include but not be limited to the following:

• Directors will meet with AstroNova’s lender to understand its concerns and discuss plans to pay down debt and create headroom on our line of credit;

• Shorten the cash cycle and reduce working capital by negotiating substantially better payables and receivables terms with vendors and customers and reduce inventory levels.

• Develop and implement a 26-week cashflow forecast to micromanage costs and preserve working capital.

• Directors will meet with large customers and suppliers to understand their concerns

• A/B test price increases, aiming to determine price elasticity and maximize margin dollars as well as return on capital employed;

• Assess and reprioritize marketing expenditures. This will start with calculation of cost per lead generated, conversion rate, return on advertising spend (ROAS), lifetime value to customer acquisition cost (LTV/CAC), and other relevant metrics to evaluate the effectiveness of sales and marketing expenditures. Based on this analysis, we will rebalance marketing expenditures, reducing spending on trade shows and reallocating those funds to search engine optimization (SEO), search engine advertising (SEA), and other forms of digital marketing, shifting spending to channels with the highest quantifiable ROI.

• Thoroughly review all major cost categories, reduce and defer non-essential expenditures such as travel and executive perks,

• Institute stricter controls including requiring CEO or CFO approval for all consulting, and related expenses;

• Audit customer and product-level profitability to determine and administer minimal contribution standards for margins and returns on capital employed

• Streamline the sales organization, institute processes to avoid competing against channel partners / distributors, and allocate sales resources to the highest-value activities, shifting low-value activities to other channels such as e-commerce.

1.3: Next 100 Days: Identify Highest-ROI Improvement Opportunities

AstroNova faces many challenges after years of mismanagement. While the company certainly needs some disruption to improve its results, it’s impractical and unwise to immediately and simultaneously address all potential issues we may identify. AstroNova is a small company, and we don’t want to unnecessarily stress the organization’s capacity for change.

Furthermore, some potential initiatives, such as consolidation of the manufacturing footprint, would take time and require investment.

Therefore, we will emphasize “low hanging fruit” – quick wins with limited up-front investment. We seek to maximize cash generation or margin improvement in the short term, without overwhelming the organization’s capacity to manage change or disrupting other initiatives.

Once the company is generating more substantial cash flows and has reduced its indebtedness, we will work to address the remaining issues and focus on longer-term strategic initiatives.

We will review:

• Product lines and market positioning – in which product categories and customer segments do we have a right to win, and do so profitably? Evaluate all aspects of the business through the lens of return on invested capital (ROIC) and focus investment in ROIC-maximizing areas, prioritizing returns and profitability over absolute size.

• Go-to-market strategy: conduct a deeper and more thorough segmentation and re-evaluation of the go-to-market strategy, including the appropriate methods (direct, channel, e-commerce) and sales team organization and compensation for each product line and customer type. Consider hiring a specific executive with relevant prior experience to manage and build the company’s global channel strategy.

• Customer strategy: center the organization around the customer to maximize the lifetime value of the installed base; deepen customer relationships and aim to become a trusted partner rather than just a supplier. Recognizing that labels are a small component of customers’ costs but a critical part that can prevent shipments and revenue recognition, aim to provide a superlative quality and reliability experience and compete on value and service rather than price. Implement “Voice of Customer” strategies, particularly for new product introductions, and institute and incentivize against key health metrics such as Net Promoter Score and customer retention (measured in both units and dollars).

• Analyze operating footprint: analyze make-vs-buy decisions for components that are currently (or could possibly be) vertically integrated using existing manufacturing capacity, and conversely any components that could be outsourced to reliable supply partners. Evaluate facilities and determine which products can most profitably be produced where.

• Evaluate production equipment, particularly in areas such as electronics and printed circuit boards, to determine areas where modest capital investments might drive tangible improvements in operating costs and product quality.

• Identify opportunities to monetize owned real estate, including working with the lender to determine their views on a sale-leaseback of the Chicago and West Warwick properties to reduce debt.

• Evaluate integration plans at MTEX and determine the best path forward for maximizing the value of that asset.

1.4: Ongoing: evaluate strategic alternatives and, when appropriate, execute on risk-adjusted value-maximizing opportunities

Based on our research and analysis, we think that AstroNova’s current corporate structure is inefficient. A portion of AstroNova’s unallocated corporate overhead attributable to public-company costs would be significantly reduced or eliminated in a transaction with a private purchaser or a larger public company. Furthermore, we think the Aerospace and Product Identification businesses have negligible overlap in customers and at best limited overlap in underlying technology. Both segments are individually much smaller than many of their peers. Many aerospace and printing companies have substantially larger revenues and thus a greater ability to leverage technology and marketing spend over a broader customer base.

Given AstroNova’s low liquidity and current depressed market valuation, we think a transaction or series of transactions resulting in the sale or merger of the company may represent the most efficient way to maximize shareholder value. After years of shareholder value destruction, fiduciary duty demands that the Board – whether the incumbents or our nominees – thoroughly investigate strategic alternatives. We will prioritize developing and implementing a viable standalone business strategy as a public company, and pursue whichever path maximizes shareholder value. It is critical for the company to at least be aware of the private-market value for the business as a whole, and its individual segments, and weigh that against its valuation in the public markets to determine the appropriate path forward. (For the latter scenario, tax considerations would factor into our assessment of the value-maximizing strategy).

We note Servotronics (SVT), a global designer and manufacturer of servo controls and other components for aerospace and defense applications, announced a merger with large aerospace manufacturer Transdigm (TDG) for $110 million in cash on May 19, 2025. That price is almost identical to AstroNova’s entire enterprise value as of May 20, 2025.^9,10 This all-cash transaction represents a 274% premium to Servotronics’ share price at the prior close. For the fiscal year 2024, Servotronics generated $44.9 million in revenue with only $8.2 million in gross profit and less than $1 million in Adjusted EBITDA.¹¹

Meanwhile, for its FY2025 ended a month later, AstroNova’s Test and Measurement segment (subsequently renamed Aerospace) generated a slightly higher $48.9 million in revenues with a much higher $11.1 million in segment operating profit. It seems reasonable to assume that a buyer evaluating these two businesses side by side would assign a higher valuation to AstroNova Aerospace given its modestly higher revenues and substantially higher profits. In other words (and apart from any tax considerations), that would imply that if AstroNova Aerospace was sold at a similar value, AstroNova could pay off all its debt and return cash to shareholders equivalent to roughly the current share price. Shareholders would then still own the entire Product Identification segment, with slightly over $100 million in annual revenues generated each of the past three fiscal years, which is clearly worth substantially more than the zero or even negative value implied if Servotronics’ valuation is applied to AstroNova Aerospace.¹²

While the Servotronics transaction is merely one data point, it demonstrates the potential value if AstroNova focuses on rapid improvements and evaluates strategic alternatives, rather than doubling down on a strategy promoted by the value-destroying incumbent CEO and Board.

1.5: Our Directors Have Specific and Relevant Experience To Execute the Plan

Shawn Kravetz. Mr. Kravetz has relevant experience as a change agent under similar circumstances. He joined the Board of Nevada Gold & Casinos, Inc. as a large shareholder frustrated by performance, including a recent acquisition. He served from 2016 until Nevada Gold was sold in 2019, including Chairman of the Corporate Governance and Nominating Committee. Mr. Kravetz was recently nominated for election to the Board of publicly-traded Spruce Power Holding Corporation by the company’s Nominating and Governance Committee.¹³

Jeff Sands. As Mr. Sands discusses in his book, “Corporate Turnaround Artistry: Fix Any Business in 100 Days,” he has successfully used techniques included in our plan to restore profitability at numerous businesses, including some merely weeks away from lender-forced liquidation. He has won the Turnaround Management Association “Turnaround of the Year” award three times. Mr. Sands has successfully worked with businesses such as a $100M supplier of aerospace components to Boeing (~2x the size of AstroNova’s Aerospace segment), as well as complex and capital-intensive businesses such as steel and pharmaceuticals. Given AstroNova’s significant recent decline in profitability and elevated inventory balances, Mr. Sands’ experience in driving rapid cash flow improvement is extremely relevant.

Ryan Oviatt. Mr. Oviatt has extensive experience – as CFO, CEO, and Board Member of Profire – of managing an industrial products business for margin and cash flow in the highly cyclical energy market. AstroNova’s relatively more advantaged capital-light business model, with substantial recurring revenues driven by a large installed base, provide a solid foundation to build on. Mr. Oviatt managed a team that used techniques such as automation of manual processes and key administrative functions, customer outreach, and performance-based incentive compensation programs designed to instill a sense of ownership throughout the company.

Boyd Roberts. Mr. Roberts was the youngest member of the executive team at Franklin Covey (FC) and has integrated and substantially grown an acquired division, with ownership of full P&Ls and high employee net promoter scores. Mr. Roberts has extensive experience with Franklin Covey’s customer-focused recurring-revenue business model. Mr. Roberts is fluent in Portuguese. His linguistic and cultural strengths uniquely qualify him to address the challenging MTEX acquisition, which we believe has suffered due to a cultural mismatch between the labor force at its facility in Porto in northern Portugal, and AstroNova’s American business culture.¹⁴

Samir Patel. As AstroNova’s largest shareholder, who has researched the business since 2016, I am deeply familiar with the company’s ongoing (flawed) strategy, contrary to the company’s misleading assertion that the company will be damaged by a new Board “unacquainted with recent decision-making.” ¹⁵ I will ensure that AstroNova’s operational and capital allocation decisions consistently maximize shareholder value.

1.6: Strategic Alternatives Qualifications

Our nominees, are, collectively, extremely qualified to evaluate whether AstroNova can generate more shareholder value through a standalone strategy, or through the sale of the company in whole or part. They have participated in the consummation of successful transactions.

• Mr. Sands has been involved in the sale of numerous private companies.

• As CEO and Board Member at public company Profire Energy, Mr. Oviatt helped lead the acquisition of two small private companies and the successful sale of Profire to a strategic public-company buyer, CECO Environmental. After multiple rounds of negotiation, Profire successfully achieved a final offer price 27.5% higher than CECO’s original offer, and an all-cash deal rather than the original offer of 75% cash and 25% stock. This final offer represented a 60.3% premium to Profire’s volume-weighted average share price over the 30 days prior to the Board approving the merger.¹⁶

• Mr. Kravetz was involved in the sale of Nevada Gold & Casino to a strategic buyer, Maverick Casinos.¹⁷

• Mr. Roberts has extensive experience with mergers and acquisitions from deal sourcing and negotiating through integration in his various roles at Franklin Covey, including Vice President of Corporate Development.

SECTION 2: THE CASE FOR CHANGE: WHY ASTRONOVA’S EXISTING BOARD SIMPLY ISN’T GOOD ENOUGH

2.1: Track Record of Poor Performance

We believe that AstroNova’s recent shareholder letter demonstrates that the existing Board is not serious about addressing shareholder value. To start, their letter claims that the election of new directors “presents a significant danger of damaging… employees’ morale.”¹⁸ That statement is difficult to take seriously when on March 20, 2025, the company announced “the reduction of approximately 10% of the Company’s global workforce, primarily in the PI [Product Identification] segment.” Poor management and governance has necessitated downsizing – hardly a boon for employee morale. A more profitable and growing AstroNova would benefit employees as well as shareholders by providing opportunities for bonuses and career growth.

The Company’s most recent shareholder letter, similarly, states that “our stock price has recovered from its low of $6.15 during the global pandemic, to its recent price of $9.00.” It is misleading and disingenuous for the Board and executives to compare today’s price to the depths reached during the pandemic – when travel, and life as we know it, was shut down on a global basis. In our view, focusing on the pandemic-low stock price, while ignoring a decade-plus track record of shareholder value destruction, highlights incumbents’ callous attitude towards owners.

We think much more relevant comparison points are:

1. AstroNova’s total shareholder return under the tenure of CEO Greg Woods and each of the other directors serving prior to 2025;

2. Shareholder returns since the disastrous MTEX acquisition in May 2024.

We further think it is important to compare AstroNova’s performance to relevant peers. Given AstroNova’s two distinct segments (Aerospace and Product Identification) and the absence of direct publicly-traded competitors, identifying an exact like-for-like peer group is challenging. As benchmarks for comparison, we have selected:

• the iShares Micro-Cap ETF (IWC) and iShares Small-Cap ETF (IWM) to reflect AstroNova’s market capitalization,

• the iShares US Aerospace & Defense ETF (ITA) to reflect AstroNova’s Aerospace segment,

• two U.S. companies offering industrial and label printing solutions (Brady Corporation, BRC and Zebra Technologies, ZBRA) to reflect AstroNova’s Product Identification segment.¹⁹ (We note that AstroNova’s Chief Technology Officer, Michael Natalizia, joined AstroNova in 1986, but worked as a Senior Engineer for Zebra Technologies from 2000 – 2005. We have identified two other AstroNova employees whose LinkedIn profiles cite prior roles at Brady Corporation or Zebra Technologies.^20,21)

None of these benchmarks is individually perfect. However, they collectively demonstrate that companies of similar size, producing similar products, or serving similar end markets, have delivered substantially greater returns over relevant time periods. We believe AstroNova’s incumbent Board is touting their resumes and their previous accomplishments elsewhere because their track record of total shareholder return at AstroNova is horrific.

Measured through the record date for the annual meeting (May 15, 2025), AstroNova’s total shareholder return (TSR) has severely underperformed each of these peers since each of the following milestones:

1. Mitch Quain joins Board – August 24, 2011

2. Greg Woods becomes CEO – February 1, 2014

3. Richard Warzala joins Board – December 6, 2017

4. Yvonne Schlaeppi joins Board – April 3, 2018

5. Alexis P. Michas joins Board – June 17, 2022

6. MTEX Acquisition announced – May 9, 2024

	TSR Since Mitchell Quain joins Board (August 24, 2011)	TSR since Greg Woods Named CEO (February 1, 2014)	TSR since Richard Warzala Joins Board (December 6, 2017)	TSR since Yvonne Schlaeppi Joins Board (April 3, 2018)	TSR since Alexis Michas Joins Board (June 17, 2022)	TSR Since AstroNova Announces MTEX (May 9, 2024)
AstroNova (ALOT)	40.1%	-28.3%	-37.0%	-43.5%	-24.1%	-51.1%
iShares Micro-Cap ETF (IWC)	228.8%	81.6%	37.8%	35.8%	18.2%	1.8%
iShares Small-Cap ETF (IWM)	264.2%	115.3%	52.5%	51.6%	31.0%	2.3%
iShares US Aerospace & Defense ETF (ITA)	629.0%	266.4%	101.7%	86.4%	86.5%	27.1%
Brady Corporation (BRC)	294.0%	254.6%	125.1%	132.7%	82.8%	26.1%
Zebra Technologies (ZBRA)	772.6%	442.80%	183.3%	113.4%	3.4%	-5.7%
Peer Median Performance	294.0%	254.6%	101.7%	86.4%	31.0%	2.3%
ALOT Underperformance vs. Peer Median	-253.9%	-282.9%	-138.7%	-129.9%	-55.1%	-53.3%
ALOT Underperformance vs. Worst Peer	-188.7%	-109.9%	-74.8%	-79.3%	-27.6%	-45.3%

This analysis demonstrates that AstroNova has dramatically underperformed its peers during the tenure of CEO Greg Woods and each of the directors who have enabled him.²² Excluding Mr. Michas and Mr. Nevin, the other four directors have had tenures of 7 to 14 years – and what have they accomplished for shareholders during this time? No matter when they joined the board, AstroNova’s share price today shows that the Company has substantially underperformed the worst-performing peer, let alone the median or the best-performing peer. ALOT has a negative absolute return under the tenure of Mr. Woods, Mr. Warzala, Ms. Schlaeppi, and Mr. Michas.

2.2 Long-Standing Relationships May Compromise Board Independence and Objectivity

We think an intertwined web of long-term relationships among four of the five longer-serving Board members may explain their reluctance to hold Mr. Woods accountable:

• Mitchell Quain has been a director since 2011 and was thus part of the Board that appointed Mr. Woods CEO.

• Lead Independent Director Richard Warzala and Mr. Woods both worked at Buffalo, NY based American Precision Industries (API) in the mid to late 1990s, through its subsequent acquisition by Danaher. Mr. Woods’ final role was President, API Controls while Mr. Warzala’s was President, API Motion.^23,24

• From 2015 – 2017, Alexis P. Michas served on the Board of Allied Motion Technologies (the former name of Allient, Inc), where according to AstroNova’s proxy statement, Mr. Warzala has served as CEO since 2009 and Chairman since 2014.²⁵

AstroNova has been at the bottom of the selected benchmarks during the tenure of each of these directors. Shareholders have suffered for long enough. The time for substantial Board refreshment is now.

2.3 Lack of Organic Growth

The company’s own recent words demonstrate its lack of commitment to shareholder value. The company trumpets its growth in revenues and operating income but omits important facts, thereby misleading shareholders:

“The strategic repositioning of our Company in the last eleven years has translated into a much-improved financial profile. Since fiscal 2014, AstroNova has delivered a 7.5% compound annual growth rate (“CAGR”) in revenue. While operating income was a loss of $8.6 million in fiscal 2025, adjusted operating income¹ over the eleven-year period grew at a 12.2% CAGR.”²⁶

FY2014 is a particularly favorable starting point: GAAP operating income nearly halved from $2.9 million in FY2013 to $1.5 million in FY2014.²⁷ The company sold its medical division, Grass Technologies, on January 31, 2013, for $18.6 million in cash, depressing operating income the following year.²⁸

Further, its Form 10-K for FY2024 notes “at the end of fiscal 2014, we had approximately $27 million of cash, cash equivalents and investments held for sale.” The balance sheet listed no debt and only $11.4 million in total liabilities, primarily comprised of working capital items such as accounts payable, accrued compensation, and other accrued expenses. Additionally, the company discloses that it spent $6.7 million to purchase the ruggedized printer product line from Miltope on January 22, 2014 – so this acquisition contributed virtually nothing to FY2014 results given it was only owned for a week, but would have benefited FY2015 results.

11 years later, for FY2025, AstroNova reports $5.1 million of cash and equivalents²⁹, with $46.6 million of total indebtedness, and $69.8 million of total liabilities. In other words, AstroNova today has over $41 million in net debt, whereas it had over $27 million in net cash when Mr. Woods became CEO, along with nearly $7 million spent on an acquisition merely a week prior. That balance sheet swing of approximately $75 million is essentially equivalent to AstroNova’s entire market capitalization today. We further note that according to Form 10-K disclosures over the past 11 years, AstroNova has spent roughly $92 million on acquisitions since the start of January 2014.³⁰

	Date	Purchase Price (Millions)	Notes
Miltope	January 22, 2014	$6.7
RITEC	June 18, 2015	$7.4
TrojanLabel	February 1, 2017	$9.1
Honeywell	September 28, 2017	$29.6	$14.6 million in up-front cash, $15.0 million in minimum royalty obligations, and additional excess royalty obligations – we are only including the minimum obligations and the cash payment
Astro Machine	August 4, 2022	$17.0
MTEX	May 9, 2024	$22.1	$18.7 million cash purchase price and $3.4 million of MTEX debt assumed.
Total		$91.9

What did the company get in return for spending this shareholder capital? While the company does not always disclose financials for individual transactions, the company disclosed that it purchased Astro-Machine for $17.1 million in cash in August 2022; the business generated $22 million in revenue with “mid-teens” operating margins – implying over $3 million in operating income or a purchase value of less than 6x operating income.³¹

If AstroNova had spent the remaining $75 million at double the valuation paid for Astro-Machine, the company would have been able to add over $6 million of operating income, in addition to the $3 million delivered by Astro-Machine, for a total of $9+ million in additional operating income.

Yet the company’s own table discloses that non-GAAP operating income grew from $1.86 million as of FY2014 to $6.6 million in FY2025.³² Total operating income is thus less than what the company should have been able to acquire for $92 million. Operating income has grown less than $5 million in 11 years, compared to the over $9 million that they should have generated by deploying over $90 million in shareholder capital, to say nothing of organic growth they should have generated along the way.

Even if we exclude the ongoing MTEX losses, this suggests that AstroNova has not generated organic growth or profitability improvement from the many acquisitions it has consummated, and in fact has likely seen deteriorating results in the businesses that it has purchased.

So Mr. Woods has indeed grown revenues and income by spending the cash he inherited, then borrowing more – but he has not created shareholder value in the process. Most recently, the disastrous MTEX acquisition – which added significant debt while reducing earnings and cash flow due to ongoing losses at MTEX – resulted in breached debt covenants, forcing AstroNova to seek a waiver and deferred debt payment schedule from the lender, which was subsequently granted.³³ AstroNova’s letter to shareholders fails to mention this precarious financial situation.

2.4 Guidance for FY 2026 Still Below FY2024 Actual Results

Meanwhile, although the company is pointing to its expected growth in FY2026, it neglects to mention that it still expects to be behind where it was in FY2024, even with the costly addition of MTEX.

In FY2025, excluding MTEX (i.e., organically), revenue declined to $147.1 million from $148.1 million in FY2024, and operating income declined to $8.2 million from $8.8 million in FY2024.³⁴Including MTEX but excluding the associated goodwill impairment of $13.4 million less than a year(!) after purchase, AstroNova’s revenue increased from $148.1 million in FY2024 to $151.3 million in FY2025, but operating income decreased from $8.8 million in FY2024 to $4.8 million in FY2025, with MTEX losing over $3 million even without the goodwill impairment.

The company boasts of its guidance of $160 to $165 million in revenue with 8.5% to 9.5% Adjusted EBITDA margins, but even if the company achieves the high end of this guidance, it would only generate $15.7 million in Adjusted EBITDA. For FY 2024, it had $17.6 million of Adjusted EBITDA excluding restructuring and retrofit-related items.³⁵ So despite the costly MTEX acquisition, FY2026 results – even at the high end of guidance – would still fall below FY2024 results.

2.5 MTEX Strategy Faces Many Pitfalls

Finally, the company’s strategy to fix the ailing Product Identification segment appears primarily based on the roll-out of new MTEX technology. We have multiple reasons to believe this is an unsound approach. First, it is worth asking: if this technology is so revolutionary, why has MTEX been unable to sell it profitably so far as part of AstroNova, and why was it necessary to discontinue 70% of the MTEX product portfolio and write off 70% of the purchase price less than a year after consummation of the acquisition?³⁶

We believe MTEX was an immature business for which AstroNova vastly overpaid, with newly-developed products which may have reliability issues. A former Senior Vice President at Memjet – who worked closely with both AstroNova and MTEX – observed the following (note that “Trojan” refers to AstroNova’s TrojanLabel product line, specifically the T2-C):

The purchase price paid by AstroNova for MTEX, I compare that with the solidity of the Astro Machine business, which was a similar order of magnitude purchase price […] when I compare that to MTEX and the fact that the business was significantly less mature, the fact that one minute, MTEX is making an ATOM, Trojan two Compact competitor, then moves into an overprinter, then starts selling UV cabinets for clothing during COVID, to then switch back to trying to extend into more expensive, higher markets in terms of the packaging segment, it seemed like a very rich price, given that less maturity and with a very fluid product portfolio. […]

Just one last thing to mention about MTEX. I think there was also a lot of disquiet in the marketplace in terms of their ability, that they grew very fast and then to support products. There were a number of situations where I heard from OEMs and resellers who would struggle to get post-sales support when there were issues with the technology.

When it’s one or two, that can be very much a customer-specific scenario. When you get a little bit more of a regular point of feedback around that, then it raises some more questions. I think I’ve read some online comments about the support experience. I think that was another area that was questionable for me around their potential ability.³⁷

We note that AstroNova is no stranger to quality issues, with ink quality issues that were not resolved until the end of FY2024 after originally surfacing at the end of FY2022³⁸, despite assurances that it would be a short term fix.³⁹ We question why AstroNova’s Board agreed to pay such a robust price for MTEX – a price they had to write down by 70% relative to cash outlay less than a year later – despite MTEX’s history and seemingly foreseeable potential issues. What kind of due diligence did the Board conduct prior to this acquisition? If they missed these issues, what might they still be missing about the technology upon which AstroNova’s future products apparently rely?

Second, even if AstroNova can work through these reliability concerns, the company’s claim that it is at an “inflection point… positioned to drive meaningful growth and profitability”⁴⁰ needs additional context. The Company’s own earnings presentation discloses that the company’s Product Identification segment has an installed base of 10,000+ printers with 82% recurring revenue, and only 18% of FY25 revenue attributable to hardware / the sales of new printers.⁴¹

While exact lifespans vary depending on the model, maintenance, and usage, we believe inkjet printers and label printers have a lifespan of 3 – 7 years, with well-maintained models potentially lasting longer.⁴² AstroNova’s large installed base and recurring revenue base is clearly one of the company’s greatest strengths, but it also means that a new technology rollout cannot be accomplished quickly. Even if this new technology proves to be reliable and achieves product-market fit – as of yet unproven – and even if it benefits margins – also as-of-yet unproven, given that MTEX has reported substantial operating losses even excluding its goodwill impairment – it could be 2030 or beyond before the existing installed base is fully replaced by this new technology. We believe that a more balanced focus including other levers to improve performance would be much more advantageous.

Conclusion

Under the 11-year tenure of CEO Greg Woods and the tenure of each of the four Board members nominated prior to 2025, AstroNova shareholders have suffered substantial value destruction, including a loss of almost 50% of the value of their investment over the year following the MTEX acquisition.

The incumbent Board has stood idly by. The current CEO and Board fail to take advantage of AstroNova’s inherently attractive qualities, such as its large base of recurring revenue. AstroNova needs more talented management, a better strategy aligned with industry best practices, and a stronger governance framework focused on accountability to results and shareholder returns. Finally, the company’s Board owes shareholders a comprehensive strategic alternatives process, to determine whether a transaction, or series of transactions, would provide a superior risk-adjusted outcome for shareholders relative to remaining public.

Our slate of nominees has the skills, experience, and motivation to effectively address each of these challenges. We look forward to rolling up our sleeves and working to maximize the value of your investment.

I encourage all shareholders, large or small, to reach out to me directly if they wish to share their perspectives on AstroNova and discuss how our nominees can set the company on a path to a brighter future. I have committed to not accepting any cash or stock compensation for serving as a director (only customary reimbursement of expenses.) My sole motivation is the restoration of shareholder value on behalf of my clients and all long-suffering AstroNova shareholders.

I look forward to speaking with you individually and earning your vote. As a reminder, on June 12^th at 11 AM ET, we plan to host a virtual town hall meeting for AstroNova shareholders to interact directly with our nominees. More details will follow, but please save the date.

This filing, and future filings, will also be made available to shareholders after dissemination on EDGAR via our website: https://www.askeladdencapital.com/astronova/

These documents will also be available at no cost at www.sec.gov.

Sincerely,

Samir Patel
samir@askeladdencapital.com
(682) 553-8302

Samir Patel, Askeladden Capital Management LLC, Jeff Sands, Shawn Kravetz, Ryan Oviatt and Boyd Roberts (collectively the “Participants”) filed a definitive proxy statement and accompanying proxy card with the SEC on May 20, 2025, as amended on May 21, 2025, to be used in soliciting proxies in connection with the 2025 annual meeting of shareholders (the “Annual Meeting”) of AstroNova, Inc. (the “Company”). All shareholders of the Company are advised to read the Proxy Statement and other documents related to the solicitation of proxies, each in connection with the Annual Meeting, by the Participants, as they contain important information, including additional information related to the Participants, including a description of their direct or indirect interests by security holdings or otherwise. The Proxy Statement and an accompanying GOLD proxy card will be furnished to some or all of the Company’s stockholders and is, along with other relevant documents, available at no charge on the SEC website at http://www.sec.gov, or by contacting Samir Patel at 1452 Hughes Road, Suite 200 #582, Grapevine, TX, 76051.

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¹⁷Maverick Casinos Announces Sales/Merger Agreement with Nevada Gold. September 2018.
https://www.maverickgaming.com/uncategorized/maverick-casinos-announces-sales-merger-agreement-with-nevada-gold/

View the original press release on ACCESS Newswire