Month: September 2026

Vectus CEO Erik Prince confirms intent to purchase at least 40 Swarmer-built air defense systems in year one and 80 or more in year two following the start of production in Poland

AUSTIN, Texas, Sept. 23, 2026 (GLOBE NEWSWIRE) — Swarmer, Inc (“Swarmer”) (NASDAQ: SWMR), a drone autonomy platform company that has supported more than 100,000 real-world combat missions in Ukraine since April 2024, today announced it has signed a nonbinding memorandum of understanding with Vectus Air Defense Systems, a company in which Swarmer holds a 20% interest, to manufacture, sell and deploy end-to-end air defense systems in eligible markets, subject to applicable export-control, sanctions, procurement, and other governmental requirements.

Swarmer intends to establish an air defense system manufacturing facility in Poland. Under the memorandum, Vectus has confirmed its intent to purchase and deploy at least 40 Swarmer-built systems in year one and 80 or more in year two following the start of production.

“We intend to manufacture an end-to-end solution that includes radars, cameras, fire control and effectors to target a variety of threats, including newer jet-powered Shahed-type attack drones,” said Alex Fink, Swarmer U.S. CEO and president. “The systems use combat-proven Gatling-type rotary cannons, capable of firing 20mm rounds at a rate of up to 6,000 rounds per minute, as the last line of defense.”

Fink estimates each system will retail at approximately $5 million to $6 million. Gun-based kinetic effectors are intended to significantly reduce the cost per kill compared with multimillion-dollar precision-guided missiles. Historically, drones are much cheaper than the missiles used to intercept them, whereas 20mm ammunition is relatively inexpensive and widely available.

“In my experience, high-powered rotary cannons produce a wall of lead that few aerial threats can survive,” said Erik Prince, who acts as both Vectus’ CEO and Swarmer’s board chairman. “I believe these systems will be in high demand because they are portable, affordable and designed to destroy targets on impact. High-speed enemy drones may outfly an interceptor, but they can’t outfly thousands of 20mm rounds.”

Final quantities, pricing, financing, specifications, and delivery schedules remain subject to definitive agreements.

About Swarmer

Swarmer™ (Nasdaq: SWMR) is a defense technology company that specializes in vendor-agnostic software which allows one operator to intuitively control hundreds of autonomous platforms in real time. Swarmer’s primary mission areas include autonomous swarm coordination, integration of multi-domain unmanned systems and AI-powered autonomy software for distributed operations. Swarmer’s technology has been rigorously validated in real-world kinetic environments and was first deployed in combat operations in Ukraine in April 2024. Since then, it has completed more than 100,000 combat missions, generating terabytes of proprietary data that informs its machine-learning models and enables the replication of advanced pilot performance at scale. Swarmer’s routine use in combat missions generates continuous streams of telemetry, sensor data and operational feedback which are then used to refine performance, increase resilience and accelerate learning. Swarmer has headquarters in Austin, Texas, and maintains operations and teams in Ukraine, Poland and Estonia. For more information, visit www.swarmer.com.

About Vectus Air Defense Systems

Vectus Air Defense Systems provides Air Defense as a Service for sovereign governments and critical infrastructure operators. The company designs, integrates and continuously operates layered air-defense systems under multi-year service agreements, while monitoring evolving threats and upgrading deployed systems as technologies and tactics change. Its mission is to help ensure that critical infrastructure remains operational when disruption is not an option. For more information, visit: https://www.vectusairdefense.com.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements that are not historical facts, including statements concerning the negotiation and execution of definitive agreements between Swarmer and Vectus; the proposed establishment, timing, financing and operation of manufacturing operations in Poland; the anticipated development, manufacturing, pricing, commercial availability, sales, purchase, deployment, delivery, capabilities and performance of the air defense systems; Vectus’ intended purchases including anticipated quantities and timing; potential customer demand, cost savings and market opportunity; Swarmer’s product roadmap, commercialization plans, customer adoption, growth strategy and defense technology strategy; and any other statements using words such as “anticipate,” “believe,” “can,” “could,” “designed,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “seek,” “should,” “will,” “would” or similar expressions.

These forward-looking statements are based on current expectations, estimates, assumptions and beliefs and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties include, among others: the risk that the nonbinding memorandum of understanding may be terminated or may not result in definitive agreements or binding purchase orders; the risk that Vectus may purchase fewer systems than currently contemplated or none at all; the risk that required financing, permits, regulatory approvals or governmental authorizations may not be obtained or may be subject to conditions; the risk that the proposed manufacturing operations in Poland may be delayed, reduced in scope or not established; the risk that final pricing, quantities, configurations, delivery schedules and other commercial terms may differ from current expectations; the risk that product development, testing, validation, commercial availability, production or deliveries may be delayed or unsuccessful; risks associated with sourcing and integrating radars, cameras, fire-control systems, effectors, ammunition and other third-party components; reliance on partners, suppliers, customers and government stakeholders; technical, operational, cybersecurity, safety and field-performance risks; the risks related to government, defense and international procurement processes; risks related to operating in or supporting customers in active conflict zones, including Ukraine; geopolitical, sanctions, export-control, defense-trade-control and other regulatory risks; competition in the defense technology sector; and the risk that the transactions and relationships described in this press release may not produce the anticipated operational, commercial, technical or strategic benefits.

Forward-looking statements speak only as of the date of this press release. Swarmer undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Additional risks and uncertainties are described in Swarmer’s filings with the Securities and Exchange Commission, including under the caption “Risk Factors” in Swarmer’s registration statement and other filings filed with or furnished to the SEC.

Investor Contact (Swarmer): swmr@gateway-grp.com 

Media Contact (Swarmer): media@swarmer.tech 

Dr. Jennifer Billingsley Appointed President

PHOENIX, Sept. 23, 2026 (GLOBE NEWSWIRE) — Aspen Group, Inc. (“AGI”) (OTCQB: ASPU), an education technology holding company and the parent company of Aspen University (AU) and United States University (USU), announced today that Dr. Scott Burrus has resigned as President of USU and AU (the “Universities”), effective September 23, 2026. Dr. Jennifer Billingsley, DNP, FNP-BC, CNE, currently Provost and Chief Academic Officer of the Universities, has been appointed President, effective immediately.

Dr. Billingsley brings more than 20 years of experience in academic leadership, higher education and clinical practice to the role. As a member of the Aspen Group leadership team for over 8 years, she is currently serving in the role of Provost and Chief Academic Officer where she oversees USU’s and AU’s academic programs, student services, accreditation and faculty development. Dr. Billingsley previously served as Dean and Professor of USU’s College of Nursing and Health Sciences, where she helped launch the University’s first doctoral program, supported the Commission on Collegiate Nursing Education (“CCNE”) accreditation and led initiatives focused on student success and faculty development.

“Jennifer is an accomplished academic leader who has played an important role in the development of our institutions,” said Matt LaVay, Chief Executive Officer of Aspen Group. “Her deep knowledge of their academic programs and students, together with her experience in accreditation and academic leadership, makes her well suited to lead them through their next phase, including the pending merger of AU into USU. We look forward to working with Jennifer as we continue to advance our academic programs and support student success.”

LaVay continued, “On behalf of USU and AU, I would also like to thank Scott for his leadership and contributions to the Universities. During his tenure, Scott played an important role in the academic and institutional development of both institutions. We appreciate his service and wish him all the best in his future endeavors.”

Prior to joining USU’s senior leadership team, Dr. Billingsley served as Dean and Professor of the College of Nursing and Health Sciences. Earlier in her career, she served at Grand Canyon University, including as Chair of the Doctor of Nursing Practice program. She holds a Doctor of Nursing Practice and Master of Nursing in Family Nurse Practitioner from Grand Canyon University and a Bachelor of Science in Nursing from Arizona State University.

“I am honored to have the opportunity to serve as President of both USU and AU,” said Dr. Billingsley. “I have had the privilege of working alongside our faculty, staff and students and have seen firsthand their commitment to academic excellence and student success. I look forward to building on that foundation as we continue to advance the Universities’ mission and provide accessible, high-quality educational opportunities for our students.”

About Aspen Group, Inc.

Aspen Group, Inc. is an education technology holding company that leverages its infrastructure and expertise to allow its two universities, United States University and Aspen University, to deliver on the vision of making college affordable again. For more information, visit www.aspu.com.

Contact Information:

Hayden IR
Kimberly Rogers
(385) 831-7337
Kim@HaydenIR.com

NOT FOR DISTRIBUTION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.

The final short form prospectus is accessible through SEDAR+

CALGARY, Alberta, Sept. 23, 2026 (GLOBE NEWSWIRE) — Alaris Equity Partners Income Trust (“Alaris” or the “Trust“) (TSX: AD.UN) is pleased to announce today that it has filed, and obtained a receipt for, a final short form prospectus (the “Prospectus“) in each of the provinces of Canada, other than Québec, with respect to the previously announced bought deal offering of 4,465,000 trust units of the Trust (“Units“) at a price of $22.40 per Unit for aggregate gross proceeds of approximately $100 million (the “Offering“) through a syndicate of underwriters (the “Underwriters“) led by CIBC Capital Markets, Acumen Capital Finance Partners Limited and National Bank of Canada Capital Markets. The Trust has also granted the Underwriters an option to purchase up to an additional 669,750 Units, on the same terms and conditions as the Offering, exercisable in whole or in part at any time and from time to time, up to 30 days following closing of the Offering to cover over-allotments and for market stabilization purposes, for additional gross proceeds of up to approximately $15 million.

Access to the Prospectus and any amendment thereto is provided in accordance with securities legislation relating to procedures for providing access to a prospectus and any amendment thereto. The Prospectus and any amendment thereto is accessible on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Prospectus and any amendment thereto may be obtained, without charge, by contacting CIBC Capital Markets, 161 Bay Street, 5th floor, Toronto, Ontario M5J 2S8, by telephone at 1-416-956-6378 or by email at mailbox.canadianprospectus@cibc.com, from Acumen Capital Finance Partners Limited at info@acumencapital.com or from National Bank of Canada Capital Markets by telephone at 416-869-8414 or by email at nbf-syndication@bnc.ca, by providing the contact with an email address or address, as applicable. Prospective investors should read the Prospectus in its entirety before making an investment decision.

The closing of the Offering is expected to occur on September 28, 2026, subject to customary closing conditions.

ABOUT ALARIS

Alaris’ investment and investing activity refers to providing, through the wholly-owned subsidiaries of Alaris (the “Acquisition Entities“), structured equity to private companies (“Partners“) to meet their business and capital objectives, which includes management buyouts, dividend recapitalization, growth and acquisitions. Alaris achieves this by investing its unitholder capital, as well as debt, through the Acquisition Entities, in exchange for distributions, dividends or interest (collectively, “Distributions“) as well as capital appreciation on both preferred and common equity. The principal objective is to generate predictable cash flows for distribution payments to its unitholders while growing net book value through returns from capital appreciation. Distributions, other than common equity Distributions, from the Partners are adjusted annually based on the percentage change of a “top-line” financial performance measure such as gross margin or same store sales and rank in priority to common equity position.

FORWARD LOOKING STATEMENTS

This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this press release contains forward-looking statements concerning the Underwriters’ over-allotment option and the expected closing date of the Offering. Although Alaris believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Alaris can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements contained in this press release are made as of the date hereof and Alaris undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

For further information please contact:

ir@alarisequity.com
P: (403) 260-1457
Alaris Equity Partners Income Trust
Suite 250, 333 24th Avenue S.W.
Calgary, Alberta T2S 3E6
www.alarisequitypartners.com

MUNCIE, Ind., Sept. 23, 2026 (GLOBE NEWSWIRE) — First Merchants Corporation (Nasdaq: FRME) (the “Company”) today announced the pricing of its offering of $100 million of its 6.750% Fixed-to-Floating Rate Subordinated Notes due 2036 (the “Notes”) in a registered public offering (the “Offering”). The Notes will initially bear interest at 6.750% per annum from and including September 25, 2026 to, but excluding, October 1, 2031, with interest payable semiannually in arrears commencing on April 1, 2027. Commencing October 1, 2031, the interest rate on the Notes will reset quarterly to a floating rate per annum equal to a benchmark rate that is expected to be Three-Month Term SOFR (which is defined in the Notes) plus 202 basis points, with interest payable quarterly in arrears.

The Company may redeem the Notes, in whole or in part, on October 1, 2031 and on any interest payment date thereafter at a price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon. The Notes will mature on October 1, 2036 if they are not earlier redeemed.

The Company expects to close the Offering, subject to the satisfaction of customary closing conditions, on or about September 25, 2026. The Company intends to use the net proceeds from this offering for general corporate purposes, including, but not limited to, the repurchase of its common shares. The Notes are intended to qualify as Tier 2 capital for regulatory purposes.

Piper Sandler is acting as the sole book-running manager for the Offering. Keefe, Bruyette & Woods, A Stifel Company, Hovde Group and Brean Capital are serving as co-managers.

This press release is neither an offer to sell nor a solicitation of an offer to purchase any securities of the Company. There will be no sale of securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer to sell or solicitation of an offer to purchase securities of the Company will be made only pursuant to a prospectus supplement and prospectus filed with the Securities and Exchange Commission (the “SEC”). The Company has filed a registration statement (including a prospectus) (File No. 333-298983) and a preliminary prospectus supplement with the SEC for the Offering to which this press release relates. Before making an investment decision, you should read the prospectus and preliminary prospectus supplement and other documents that the Company has filed with the SEC for additional information about the Company and the Offering.

Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering can be obtained without charge by visiting the SEC’s website at www.sec.gov, or may be obtained by emailing Piper Sandler & Co. at fsg-dcm@psc.com.

About First Merchants Corporation

First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank).

First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. Quotations are carried in daily newspapers and can be found on the company’s Internet web page (http://www.firstmerchants.com).

FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation.

Forward-Looking Statements

This press release and any other written or oral statements made by us from time to time may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as “believe”, “continue”, “pattern”, “estimate”, “project”, “intend”, “anticipate”, “expect” and similar expressions or future or conditional verbs such as “will”, “would”, “should”, “could”, “might”, “can”, “may”, or similar expressions. These forward-looking statements include (i) statements of the Company’s goals, intentions, and expectations; (ii) statements regarding the Company’s business plan and growth strategies; (iii) statements regarding the asset quality of the Company’s loan and investment portfolios; and (iv) estimates of the Company’s risks and future costs and benefits.

All forward-looking statements are subject to risks, uncertainties, and other factors, many of which are beyond our control, that may cause the actual results, performance, or achievements of the Company to differ materially from any results expressed or implied by such forward-looking statements. Such factors include, among others: (i) fluctuations in market rates of interest and loan and deposit pricing, which could negatively affect our net interest margin, asset valuations, and expense expectations; (ii) adverse changes in the economy, which might affect our business prospects and could cause credit-related losses and expenses; (iii) the impacts of epidemics, pandemics, or other infectious disease outbreaks; (iv) the impacts related to or resulting from recent bank failures or adverse developments at other banks on general investor sentiment regarding the stability and liquidity of banks; (v) adverse developments in our loan and investment portfolios; (vi) competitive factors in the banking industry, such as the trend towards consolidation in our market; (vii) changes in the banking legislation or the regulatory requirements of federal and state agencies applicable to bank holding companies and banks like our affiliate bank; (viii) acquisitions of other businesses by us and integration of such acquired businesses; (ix) changes in market, economic, operational, liquidity, credit, and interest rate risks associated with our business; and (x) the continued availability of earnings and excess capital sufficient for the lawful and prudent declaration and payment of cash dividends.

Actual results, performance or achievement could differ materially from those contained in these forward-looking statements for a variety of reasons, including, without limitation, those discussed under “Risk Factors” in Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 25, 2026, and other factors discussed in the filings we make with the SEC.

All forward-looking statements attributable to the Company are expressly qualified in their entirety by these cautionary statements. Forward-looking statements speak only as of the date on which such statements are made. Except as required by law, we disclaim any obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise. There is no assurance that future results, levels of activity, performance, or goals will be achieved.

For more information, contact:
First Merchants Corporation
Nicole M. Weaver, First Vice President and Director of Corporate Administration
765-521-7619
http://www.firstmerchants.com

SOURCE: First Merchants Corporation, Muncie, Indiana

 TruGolf appoints Brenner Adams as Interim CEO in Place of resigning CEO and Director Chris Jones 

 Names Jay Heller as New Director

SALT LAKE CITY, UT, Sept. 23, 2026 (GLOBE NEWSWIRE) — TruGolf Holdings Inc. (NASDAQ: TRUG) today announced the resignation of its founder, Chris Jones, as both Chief Executive Officer and as a director of the company. Brenner Adams, TruGolf’s current Chairman of the Board, will serve as Interim Chief Executive Officer while the company undertakes an executive search for a long-term replacement. Mr. Adams, a seasoned executive and serial entrepreneur, brings extensive experience in both the gaming and sports markets, having worked on Microsoft’s Xbox team, as Global Brand Director at Burton Snowboards, and as a senior officer at TruGolf prior to stepping into his current principal role as Chief Strategist at TrueMark, an AWS Advanced Tier Partner.

TruGolf’s Board of Directors also appointed Jay Heller as a new director, replacing Mr. Jones. Mr. Heller is the Chief Executive Officer of K Lab, a technology company building programmable payments infrastructure for institutional money movement. He brings 18 years of leadership experience at NASDAQ, where he served as Vice President and Head of Capital Markets & IPO Execution, overseeing more than 3,000 public listings, including the landmark market debuts of Coinbase, Airbnb, Rivian, and CoreWeave.

“We want to thank Chris for his years of dedication to both the golf simulation industry and to TruGolf,” said Brenner Adams, Chairman and Interim Chief Executive Officer of TruGolf. “We also want to welcome Jay to the Board. We believe he will be an incredible advisor during this transition period for the Company. We are also progressing toward closing our previously announced acquisition of Polymath, which will create a new digitization company with two growing, complementary lines of business. I am also focused on continuing to strengthen our core virtual golf business while improving efficiency and developing strategic global partnerships to accelerate growth and innovation.

Disclaimer on Forward-Looking Statements

This news release contains certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this release include, without limitation, statements regarding the Company’s intention to close the acquisition of Polymath, the expected benefits of the Polymath acquisition, the Company’s plans to strengthen its core virtual golf business, improve efficiency, and develop strategic global partnerships to accelerate growth and innovation, and the Company’s executive search for a long-term Chief Executive Officer. Statements that are not historical facts constitute “forward-looking statements” and, accordingly, involve estimates, assumptions, forecasts, judgments, and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ”believes,” ”estimates,” ”anticipates,” ”expects,” ”plans,” ”projects,” ”intends,” ”potential,” ”may,” ”could,” ”might,” ”will,” ”should,” ”approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC, which are available on the SEC’s website, www.sec.gov

About TruGolf:

Since 1983, TruGolf has been passionate about driving the golf industry with innovative indoor golf solutions. TruGolf builds products that capture the spirit of golf. TruGolf’s mission is to help grow the game by attempting to make it more Available, Approachable, and Affordable through technology – because TruGolf believes Golf is for Everyone. TruGolf’s team has built award-winning video games (“Links”), innovative hardware solutions, and an all-new e-sports platform, E6, to connect golfers around the world. Since TruGolf’s beginning, TruGolf has continued to attempt to define and redefine what is possible with golf technology.

Contact:	Michael Bacal
	mbacal@darrowir.com
	917-886-9071