Tag: GlobeNewswire

Sale removes approximately $98.1 million of prospective equipment financing and frees capital for new AI colocation sites

Columbus customer continues without interruption under a new five-year agreement

JACKSONVILLE, Fla., Oct. 05, 2026 (GLOBE NEWSWIRE) — Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT), a provider of adaptive, modular architecture data center colocation and infrastructure solutions, today announced that it has completed the sale of its GPU-as-a-Service entity, Duos Edge AI – GPUaaS, LLC (the “GPUaaS Entity”), to Axe Compute, Inc. (“Axe Compute”) (Nasdaq: AGPU), a neocloud AI infrastructure company delivering dedicated, bare-metal GPU compute and large-scale AI cluster build-outs at global scale, pursuant to which Axe Compute will acquire all of the outstanding equity interests of the GPUaaS Entity, the special purpose subsidiary formed to hold the Company’s GPU compute cluster and the related equipment supply and financing positions.

Duos built the Columbus campus to demonstrate that its modular architecture could deploy quickly and support frontier AI workloads at scale. The rapid development, energization, and operation of the facility proved the Company’s deployment model and showed that operating AI infrastructure assets built this way can attract institutional capital. The sale of the GPUaaS Entity monetizes that success, allowing Duos to recycle capital into additional edge data center deployments while maintaining service to its customer. The transaction sharpens Duos into a pure-play landlord for AI compute, owning and operating the site, the power, and the colocation infrastructure while its customers bring and operate the hardware, and it frees the Company’s capital for long-lived AI colocation sites in high-demand U.S. markets.

“Columbus proves that our rapid deployment, modular architecture model can serve the most demanding AI workloads anywhere,” said Duos CEO Doug Recker. “That proof brought us an anchor, hyperscale customer and additional investment from a trusted partner in Axe Compute. Just as importantly, it demonstrated that assets developed through our model can attract institutional capital once they are operating and performing, creating opportunities to reinvest capital into the next generation of deployments. The job now is to advance the platform. We continue serving our existing Columbus customer under a revised five-year agreement with improved terms. Our capital belongs in colocation capacity, new sites, new campuses, and new customers.”

This year’s commercial momentum reflects that model, including a 10 MW hyperscaler colocation agreement with a total contract value over $111 million signed in July 2026, and, separately, a five-year hosting service order with Axe Compute across an aggregate 55 MW of U.S. sites with a total contract value over $500 million signed in August 2026. Duos is now directing its capital exclusively to developing and operating 10 to 30 MW modular colocation sites across the United States.

Duos is now singularly focused on being the colocation landlord. Duos provides the site, the power, and the colocation services, and is paid for delivering them. The tenant brings and operates the compute equipment. Compute equipment ownership, GPU utilization, and technology refresh sit with the counterparty whose core business that is, while Duos retains what a landlord retains: the asset, the power capacity, the customer relationship, and contracted revenue tied to capacity rather than to hardware cycles.

Duos will continue to serve the customer that was previously contracted for these GPUs at the Columbus, Georgia facility without interruption. Additionally, Duos and the customer have also entered into a revised five-year agreement that is expected to increase the revenue Duos recognizes from the customer over the life of the contract.

Following the closing of the Agreement, Duos will lease the underlying GPU compute capacity from Axe Compute under a capacity supply arrangement rather than owning and financing the equipment itself. Duos will continue to own and operate the colocation facility at Columbus, Georgia and continue to provide scalable power, cooling, security, and managed infrastructure services on which the site runs.

“Selling the GPU fleet sharpens Duos into a pure-play edge data center operator,” said Chris DeAlmeida, Duos CFO. “We keep the customer and the economics, we shed roughly $98.1 million of prospective equipment debt, and we free the balance sheet to fund sites instead of servers. Our outlook for 2026 is unchanged: full year revenue above $50 million and positive adjusted EBITDA.”

Transaction Highlights

Sale of the GPUaaS Entity: Axe Compute acquires 100% of the equity interests of the Special Purpose Vehicle GPUaaS Entity, including the GPU clusters and all associated equipment supply obligations.

Continuity of service to the end customer: Duos will continue to deliver service to the existing end customer at Columbus under a revised five-year agreement. Rather than taking on the risk of owning the GPU compute capacity, Duos will now lease the capacity from Axe Compute.

Termination of future equipment debt: In connection with the closing, the approximately $98.1 million GPU equipment financing facility, together with the associated covenants and debt service, was satisfied by Axe Compute and removed any debt obligations for Duos.

Capital redeployment: Capital that would have funded GPU equipment and its associated debt service is available for new modular architecture sites and campus development, where it is deployed once into a long-lived asset serving multiple contract cycles. This repositioning allows Duos to more meaningfully deploy available capital to further advance its focus on colocation and providing the infrastructure customers increasingly demand.

Balance sheet capacity: Eliminating the prospective equipment facility preserves the Company’s debt capacity and covenant headroom for additional site development financing to meet the accelerating demand, rather than equipment financing.

Sale consideration and capital recycling: Duos will receive $42.9 million in consideration for the GPUaaS Special Purpose Vehicle Entity through evenly scheduled monthly payments over the next 60 months.

The transaction closed on September 30, 2026.

About Duos Technologies Group, Inc.
Duos Technologies Group, Inc. (Nasdaq: DUOT), headquartered in Jacksonville, Florida, provides and manages modular architecture colocation data centers and infrastructure solutions. Through its Duos Edge AI brand, the Company delivers high-performance computing infrastructure built on its proprietary, scalable Duos Modular Architecture, designed to support the high-power environments required for AI and enterprise computing. Separately, Duos Technology Solutions provides manufacturer-agnostic sourcing and fulfillment services that enable efficient deployment of data centers and IT environments. Together, these platforms position the Company to address growing demand for distributed digital infrastructure in underserved Tier 3 and Tier 4 markets. For more information, visit www.duostech.com and www.duosedge.ai.

About Axe Compute, Inc.
Axe Compute Inc. (NASDAQ: AGPU) is a neocloud AI infrastructure platform built on a fundamental premise: AI innovation should not be constrained by hardware choice or availability. The company provides enterprises and AI innovators with flexibility across hardware, geography, and deployment models. Axe Compute provides the design, deployment, ownership, and operation of large-scale, dedicated AI infrastructure worldwide, supported by enterprise-grade SLAs and operational expertise. Axe Compute is headquartered in Pittsburgh, Pennsylvania. For more information, visit axecompute.com.

Forward-Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies and prospects — both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as “believe,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend,” “estimated” and “potential,” among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. All forward-looking statements attributable to Duos Technologies Group, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.

Contacts
Investor Relations
Tom Colton & Greg Bradbury
Gateway Group, Inc.
+1 949-574-3860 | DUOT@duostech.com

Media Contact
Duos Technologies Group
iMiller Public Relations
+1.914.315.6424
duot@imillerpr.com

TORONTO, Oct. 05, 2026 (GLOBE NEWSWIRE) — Mink Ventures Corporation (TSXV:MINK) (“Mink” or the “Company“) today announced it completed the drill program at its Rankin Ni, Cu, Co Property, located approximately 35km west of Timmins Ontario (Figure 1). At this time all drill core has been logged and samples for assay have been sent to lab and put on a priority rush request.

Exploration work on the Rankin Property was initiated to test two priority VTEM Maxwell Plate anomalies with inordinately high, conductive values (Figures 2 & 3). A total of four holes and 656 meters of drilling was completed to evaluated the target areas. Drilling encountered a mineralized zone with disseminated and semi massive sulphides. Assays are pending and will be released as soon as they are received. Plans and permitting are now under way to complete some down hole geophysical surveys during winter in order to cover areas of interest under Rankin Lake. A phase 2 drill program will be evaluated following the completion of the geophysics, and interpretation and modelling of all the data.

Since acquiring the Rankin Property in July, Mink obtained an independent geophysical review of the Maxwell Plate data received from the optionor. This work confirmed the presence of highly conductive zones suggesting the presence of massive sulphide zones with potential to host associated nickel, copper, and cobalt. The Rankin Property is located in the highly prospective Kam Kotia gabbro complex. Further, the targets at the Rankin Property are covered by a strong coincident gravity response which supports the possibility of a sulphide zone associated with the VTEM targets.

Qualified Person:

Mr. Kevin Filo, P. Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr. Filo has verified and approved the scientific and technical data disclosed in this news release by reviewing the VTEM survey data. Mr. Filo is a Director of the Company.

About Mink Ventures Corporation:

Mink Ventures Corporation (TSXV:MINK) is a Canadian mineral exploration company exploring for critical minerals in Ontario, Canada. It has a prospective, nickel copper cobalt exploration portfolio, with its Montcalm project, which now covers approximately 104 km² adjacent to Glencore’s former Montcalm Mine with historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010), as well as its 11 km² Warren Ni Cu Co Project and its newly optioned Rankin Property. These complementary nickel copper cobalt projects have excellent access and infrastructure and are in close proximity to the Timmins Mining Camp. The Company has 41,672,296 common shares outstanding.

For further information about Mink Ventures Corporation please contact: Natasha Dixon, President & CEO, T: 250-882-5620 E: ndixon@minkventures.com or Kevin Filo, Director, T: 705-266-6818 or visit www.sedarplus.ca

Forward Looking Statements

This press release includes certain “forward-looking information”, including, but not limited to, statements with respect to the prospectivity of the Montcalm and Warren Projects.  Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mink to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of exploration work; inability to raise the money necessary to incur the expenditures required to retain and advance the Warren Project and Montcalm Project; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, or delays in obtaining governmental and stock exchange approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Mink’s filings with Canadian securities regulators available on SEDAR+. These forward-looking statements are made as of the date hereof and Mink disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or ac curacy of this release.

Figure 1: General Location Map

Figure 2: Rankin Property VTEM Anomalies

Figure 3: Rankin Gravity Map

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/11607951-07cc-4597-890f-9c1422c672d4 

https://www.globenewswire.com/NewsRoom/AttachmentNg/e71e4af5-4fa1-4197-a42b-bcfd5ab4c73e 

https://www.globenewswire.com/NewsRoom/AttachmentNg/ae6d3cc1-02a8-4413-81c0-2214a30ab664 

MCLEAN, Va., Oct. 05, 2026 (GLOBE NEWSWIRE) — Worldwide NFT, Inc. (OTC: WNFT) (“WNFT” or the “Company”) announces that the Company has hired Peter (“Finn”) Dunne, Jr. as its Vice President of Mergers and Acquisitions, reporting to CEO Jay Wright.

Mr. Dunne graduated from Georgetown University, where he majored in Finance and played on the University’s Division I Lacrosse Team. He has significant transaction experience over the past several years, including in leveraged finance, acquisitions, and capital structure. He will be working out of the Company’s Northern Virginia office.

“I am very pleased to have Finn join WNFT and provide his strong transaction background to our Company,” said Jay Wright, WNFT CEO. “Finn brings rigor to our analytical work and creativity to our origination work. He will be an excellent addition to the team.”

“I am excited to join Jay in helping to grow WNFT and create a large, successful technology company in the U.S. defense and federal civilian industries,” said Finn Dunne. “Defense tech is one of the most dynamic areas in the U.S. economy, and helping the Department of War’s mission by enabling the warfighter with the best possible cyber tools is something I look forward to helping support.”

About Worldwide NFT, Inc.

Worldwide NFT, Inc. (OTC: WNFT; WNFT) is a publicly traded company focused on acquiring strong operating companies, including looking to make accretive acquisitions in the defense, tech, manufacturing, or related industries – https://www.wnft.us/.

Cautionary statement on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Words such as “plan,” “goal,” “will,” “would,” “believe,” and “is expected,” and similar language are indicative of forward-looking statements. These forward-looking statements are subject to risks and uncertainties, many of which are outside of the company’s control, that could cause actual results to differ (sometimes materially) from the results expressed or implied in the forward-looking statements, including, among others, the company’s ability to find, finance, and close accretive acquisitions. Except as required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise.

Contact:
Jay Wright, CEO
Worldwide NFT, Inc.
301.524.4759
jwright@wnft.us
https://www.wnft.us/

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/720c833e-8330-4d4a-b3ab-2dd0cabaf402

Whole Foods Market Approves RaiseWell Certification for Chicken, Turkey, Pork and Lamb Following Recent Approval for Beef

CASTLE ROCK, Colo., Oct. 05, 2026 (GLOBE NEWSWIRE) — Where Food Comes From, Inc. (WFCF) (Nasdaq: WFCF), the most trusted resource for independent, third-party verification of food production practices in North America, today announced that Whole Foods Market has expanded its approval for the Company’s RaiseWell^® Certified program to include chicken, turkey, pork and lamb. The expansion follows the successful launch of RaiseWell earlier this year for Whole Foods Market’s beef suppliers.

“Whole Foods Market’s expansion of its relationship with RaiseWell underscores the value this new certification offers suppliers and consumers as well as the strength of our long-standing relationship with Whole Foods Market, which is a pioneer in promoting high standards of animal welfare and transparency to farm or ranch,” said Leann Saunders, President and CSO of Where Food Comes From. “We are excited about this expansion and look forward to supporting Whole Foods Market and its suppliers in helping conscious consumers learn that the proteins they are purchasing meet Whole Foods Market’s rigorous animal welfare standards.”

Saunders added that the early response from beef suppliers has been strong with more than 347,000 head of cattle already enrolled in the RaiseWell program. Because Where Food Comes From has the industry’s largest portfolio of food claim certifications, existing and new customers for RaiseWell can benefit from the Company’s programs, which reduce costs and audit fatigue.

The RaiseWell standard is a market-ready, retailer-backed certification designed to meet the evolving expectations of premium natural retailers, foodservice operators, and consumers seeking higher standards for animal care, sourcing integrity, and supply chain transparency.

Developed in response to growing consumer demand and direct retailer input, RaiseWell Certified offers Whole Foods Market and other natural retailers a clear, third-party verified animal welfare claim that supports premium positioning, trusted sourcing, and differentiated in-store storytelling.

The certification requires that animals are raised to strict animal welfare standards at every stage of life, with no antibiotics or added hormones ever, and that livestock is source-verified back to the farm or ranch of origin, enabling traceability across the supply chain.

“Whole Foods Market has been a longtime leader on farm animal welfare. Expanding RaiseWell to cover all of our major farm-raised proteins is a natural next step,” said Ann Marie Hourigan, Head of Quality Standards for Whole Foods Market. “It gives our producers access to rigorous animal welfare certification alongside a range of other food claims certifications.”

RaiseWell Certified integrates seamlessly with WFCF’s CARE Certified^® sustainability standard, enabling producers and retailers to combine verified claims to communicate practices related to animal care, environmental stewardship, and social responsibility, as well as add-on opportunities such as pasture-raised, grass-fed, and other value-added attributes into a single certification and audit experience.

Natural retailers, foodservice operators, farmers and ranchers, and producers interested in enrolling can contact WFCF for program requirements and onboarding information.

Learn more at www.wherefoodcomesfrom.com.

About Where Food Comes From, Inc.

Where Food Comes From, Inc. is America’s trusted resource for third party verification of food production practices. Through proprietary technology and patented business processes, the Company estimates that it supports more than 17,500 farmers, ranchers, vineyards, wineries, processors, retailers, distributors, trade associations, consumer brands and restaurants with a wide variety of value-added services. Where Food Comes From solutions are used to verify food claims, optimize production practices and enable food supply chains with analytics and data driven insights. In addition, the Company’s Where Food Comes From® retail and restaurant labeling program uses web-based customer education tools to connect consumers to the sources of the food they purchase, increasing meaningful consumer engagement for our clients.

CAUTIONARY STATEMENT

This news release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, based on current expectations, estimates and projections that are subject to risk. Forward-looking statements are inherently uncertain, and actual events could differ materially from the Company’s predictions. Important factors that could cause actual events to vary from predictions include those discussed in our SEC filings. Specifically, statements in this news release about industry leadership and expectations that the Company’s services will add value for producers, retailers, and consumers; and demand for, and impact and efficacy of, the Company’s products and services on the marketplace, are forward-looking statements that are subject to a variety of factors, including availability of capital, personnel and other resources; competition; governmental regulation of the agricultural industry; the market for beef and other commodities; and other factors. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update its forward-looking statements to reflect new information or developments. For a more extensive discussion of the Company’s business, please refer to the Company’s SEC filings at www.sec.gov.

Company Contacts:

Jennifer Moore-Stover
Manager, Livestock Marketing & Communications
jmoore@wherefoodcomesfrom.com
303.895.3002

Jay Pfeiffer
Manager, Investor Relations
jpfeiffer@wherefoodcomesfrom.com 
Direct: 303-880-9000

Solution combines digital power control, GaN technology, and hardware-based security to accelerate development of high-efficiency rack power systems based on the 800V DC OCP standard

TORRANCE, Calif. and CHANDLER, Ariz., Oct. 05, 2026 (GLOBE NEWSWIRE) — Navitas Semiconductor (Nasdaq: NVTS) and Microchip Technology (Nasdaq: MCHP) – As AI data centers scale to support high-power GPU clusters, the industry is shifting toward 800V DC rack power architectures to improve distribution efficiency, increase power density and support next-generation server designs. To help accelerate this transition, Navitas and Microchip have collaborated on an 800V DC-to-6V DC reference design for AI data center rack power applications.

The platform combines Microchip’s digital power control and security technologies with Navitas’ GaNFast™ gallium nitride (GaN) power devices to give developers a practical path to implement high-efficiency power conversion aligned with the Open Compute Project (OCP) 800V DC standard. Complete with reference hardware, software and design documentation, the solution helps reduce design risk, shorten development cycles and accelerate deployment of next-generation AI infrastructure.

“AI infrastructure optimization is driving one of the most significant power architecture transitions the data center industry has experienced in decades,” said Joe Thomsen, corporate vice president of Microchip’s digital signal controller business unit. “As the ecosystem moves toward higher-voltage rack power systems, developers need proven building blocks that help reduce design risk and accelerate innovation. Our collaboration with Navitas brings together complementary technologies to help customers navigate this transition and bring next-generation power solutions to market more quickly.”

At the core of the reference platform are Microchip’s dsPIC33AK Digital Signal Controllers (DSCs), TA100 CryptoAuthentication™ device, and Navitas’ GaNFast FETs. The dsPIC33AK is designed to provide high-resolution control, high-speed analog and security with support for post-quantum cryptography. The devices offer library support for Commercial National Security Algorithm (CNSA) Suite 2.0 recommended post-quantum cryptographic (PQC) algorithms and feature hardware accelerated cryptographic functions needed in Open Compute Project (OCP) power supplies and other connected real-time control designs. Powered by a 200 MHz 32-bit core with a double-precision floating-point unit (FPU), the dsPIC33AK256MPS306 family combines 78 ps high-resolution Pulse Width Modulators (PWMs) and multiple 12-bit Analog-to-Digital Converters (ADCs) operating at up to 40 MSPS. The high-speed core and peripherals support fast, deterministic control loops for high frequency, high-efficiency DC/DC power conversion.

This PDB is powered by 16 × NV6034, 650 V, 17 mΩ GaNFast FETs in a stacked half-bridge topology on the primary side. The DFN8×8 dual-side-cooled package extends the performance advantages of GaN by reducing thermal resistance, allowing higher continuous power operation while maintaining exceptional efficiency. The PDB targets delivering up to 96% peak efficiency at full load with 1 MHz switching frequency, enabling a power density of 2,100 W/in³.

Approximately 20% thinner than a mobile phone, its ultra-low profile enables extremely close integration with the GPU board, maximizing transient performance and improving power distribution efficiency. Navitas’ system-level approach ensures that advances in GaN technology translate into measurable improvements in efficiency, power density, transient performance, and total cost of ownership. Direct conversion from 800V DC to 6V DC combines both 800V DC to 50V DC and 50V DC to 6V DC conversion stages into one converter, delivering higher end-to-end efficiency.

“As AI infrastructure scales to support increasingly demanding computing platforms, Navitas’ GaNFast technology is a critical enabler of higher power density, greater efficiency, and improved system performance,” said Vipin Bothra, vice president of Global Solution Marketing at Navitas Semiconductor. “By combining Navitas’ leadership in power semiconductors with Microchip’s digital control expertise, this collaboration accelerates the delivery of advanced power solutions tailored to the evolving requirements of next-generation AI data centers.”

The reference design also incorporates Microchip’s TA100 CryptoAuthentication™ device to help address growing security requirements within modern power infrastructure. By integrating hardware-based security into the design, developers can establish a trusted foundation for system authentication and protection without the complexity of implementing security measures from scratch. The TA100 device provides support for code authentication (secure boot), Message Authentication Code (MAC) generation, trusted firmware updates, multiple key management protocols including Transport Layer Security (TLS) and other root-of-trust-based operations.

The Microchip and Navitas reference design provides a platform for developing high-voltage, high power, compact rack power systems for AI data centers. The design combines power control, security and GaN power technologies to support efficient 800V-to-6V-power conversion while helping system developers address evolving power delivery, performance and form-factor requirements. The solution will be showcased at Microchip’s OCP Event, taking place October 12–15, 2026, in San Jose, California.

The design will be supported with a reference board, software and supporting documentation, giving developers access to the resources needed to evaluate and accelerate deployment of 800V DC power conversion systems for AI data center applications.

About Navitas
Navitas Semiconductor (Nasdaq: NVTS) is a next-generation power semiconductor leader in gallium nitride (GaN) and integrated-circuit devices, and high-voltage silicon carbide (SiC) technology. Navitas drives innovation across AI Infrastructure, combining Grid and Energy Infrastructure and AI data centers, as well as Performance Computing and Industrial Electrification. With more than 30 years of combined expertise in wide-bandgap technologies, GaNFast™ power ICs integrate GaN power, drive, control, sensing and protection to deliver faster power delivery, higher system density and greater efficiency. GeneSiC™ high-voltage SiC devices leverage patented Trench-Assisted Planar technology to provide industry-leading voltage capability, efficiency and reliability for medium-voltage grid and infrastructure applications. Navitas has more than 300 patents issued or pending and is the world’s first semiconductor company to be CarbonNeutral® certified.

Navitas Semiconductor, GaNFast, GaNSense, GaNSafe, GeneSiC, and the Navitas logo are trademarks or registered trademarks of Navitas Semiconductor Limited or affiliates. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

About Microchip Technology
Microchip Technology Inc. is a broadline supplier of semiconductors committed to making innovative design easier through total system solutions that address critical challenges at the intersection of emerging technologies and durable end markets. Its easy-to-use development tools and comprehensive product portfolio supports customers throughout the design process, from concept to completion. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support and delivers solutions across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. For more information, visit the Microchip website at www.microchip.com.

Note: The Microchip name and logo and the Microchip logo are registered trademarks of Microchip Technology Incorporated in the U.S.A. and other countries. CryptoAuthentication is a trademark of Microchip Technology Inc. in the U.S.A. and other countries. All other trademarks mentioned herein are the property of their respective companies.

Contact Information
Navitas Semiconductor
Vipin Bothra
info@navitassemi.com

Microchip Technology
Amber Liptai    
480-792-5047    
Amber.liptai@microchip.com

Navitas Investors Contact
Leanne Sievers | Brett Perry
Shelton Group
sheltonir@sheltongroup.com

Cautionary Statement Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are attempts to predict or indicate future events or trends or similar statements that are not a reflection of historical fact. Forward-looking statements are not predictions of actual future performance. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions and expectations. Microchip’s risks are discussed in its most recent annual report on Form 10-K, as updated in its most recent quarterly report on Form 10-Q, and other documents filed with the SEC. For Navitas, these and other risk factors are discussed in the Risk Factors section of its most recent annual report on Form 10-K, as updated in its most recent quarterly report on Form 10-Q, and in other documents filed with the SEC. If any of these risks materialize or if assumptions underlying forward-looking statements prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Statements may be identified by the use of words such as “we expect,” “are expected to be,” “estimate,” “plan,” “project,” “forecast,” “intend,” “anticipate,” “believe,” “seek,” ”will,” “targets,” “designed to,” “help accelerate” or other similar expressions. Forward-looking statements are made based on estimates and forecasts of financial and performance metrics, projections of market opportunity and current indications of customer interest, all of which are based on various assumptions. All such statements are based on current expectations of the management of Navitas and Microchip. Neither Microchip nor Navitas undertakes any obligation to update forward-looking statements to reflect events or circumstances after the date of this press release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d521aa42-41af-479c-bd1e-f276adec5b1f

• Non-dilutive transaction retires $87.8 million in asset-backed financing with no new equity issued; Duos and Axe Compute to expedite additional SPV site developments
• Axe Compute’s AI Cluster Customer Agreement Extended to Five Years

PITTSBURGH, Oct. 05, 2026 (GLOBE NEWSWIRE) — Axe Compute Inc. (NASDAQ: AGPU) today announced that it completed its acquisition from Duos Technologies Group, Inc. (“Duos”) of 100% of the special purpose vehicle (the “SPV”) that owns the Axe Compute AI cluster in Columbus, Georgia (the “Georgia Cluster”) on September 30, 2026. At closing, Axe Compute paid off the SPV’s asset-backed loan facility of approximately $87.8 million, with no new equity issued. The remaining consideration consists of a $42.9 million deferred purchase price payable to Duos in monthly installments of $715,000, with any unpaid balance due in full by the earlier of twelve months after signing and the date Axe Compute enters into a financing secured by the Georgia Cluster. Axe Compute expects to pay the deferred purchase price directly from cash flows generated by the Georgia Cluster. Axe Compute expects to generate approximately $364.6 million in revenue over the life of the customer agreement, with a significant expected improvement to estimated contract gross margin. In addition, the Georgia AI Cluster customer agreement has been extended from three years to five years, running through 2031 with renewal options thereafter.

Under a separate agreement, Duos covers the facility’s colocation and energy costs for the full five-year term, so the Georgia Cluster’s power and facility costs are fixed for the life of the customer contract. Duos continues to own and operate the Georgia facility.

Located at Duos’ facility in Columbus, Georgia, the Georgia Cluster consists of 288 servers containing 2,304 NVIDIA B300 GPUs. This Georgia Cluster is a landmark deployment and demonstrates Axe Compute’s program for designing, deploying, owning and operating dedicated AI infrastructure for enterprise customers. Axe Compute intends to apply the same structure to future deployments under the program: a committed customer, infrastructure secured for the same term, and ownership of the compute hardware.

“In another validation of our partnership with Duos, we are taking this step so we can both focus on what we do best. Duos is a world class data center builder and we are fortunate to call them a partner,” said Christopher Miglino, Chief Executive Officer of Axe Compute. “Our customer is committed for five years, our power and facility costs are covered for five years, and we own our GPUs. That alignment is expected to significantly expand the margin profile and return on this existing cluster.”

“This is the right move for both companies, and our relationship with Axe Compute has never been stronger,” said Doug Recker, Chief Executive Officer of Duos Technologies Group. “It streamlines the Georgia structure so Axe Compute can focus on what it does exceptionally well, delivering AI clusters to its customers. Duos stays focused on what we do best, providing the power and infrastructure behind them, now under a five-year partnership.”

Details of the acquisition are provided in a Current Report on Form 8-K filed by Axe Compute with the U.S. Securities and Exchange Commission.

About Axe Compute Inc.
Axe Compute Inc. (NASDAQ: AGPU) is a neocloud AI infrastructure platform built on a fundamental premise: AI innovation should not be constrained by hardware choice or availability. The company provides enterprises and AI innovators with flexibility across hardware, geography, and deployment models. Axe Compute provides the design, deployment, ownership, and operation of large-scale, dedicated AI infrastructure worldwide, supported by enterprise-grade SLAs and operational expertise. For more information, visit www.axecompute.com.

About Duos Technologies Group, Inc.
Duos Technologies Group, Inc. (NASDAQ: DUOT), headquartered in Jacksonville, Florida, provides and manages modular architecture colocation data centers and infrastructure solutions. Through its Duos Edge AI brand, the Company delivers high-performance computing infrastructure built on its proprietary, scalable Duos Modular Architecture, designed to support the high-power environments required for AI and enterprise computing. Separately, Duos Technology Solutions provides manufacturer-agnostic sourcing and fulfillment services that enable efficient deployment of data centers and IT environments. Together, these platforms position the Company to address growing demand for distributed digital infrastructure in underserved Tier 3 and Tier 4 markets. For more information, visit www.duostech.com and www.duosedge.ai.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the expected benefits of the transaction and the extended customer and power and facility agreements; the expected profitability, including impacts to estimated contract gross margin, and contracted revenue of the Georgia Cluster; Axe Compute’s ability to pay or refinance the deferred purchase price, including by use of cash flows generated by the Georgia Cluster or upon its accelerated maturity; the security interest held by Duos in the Georgia Cluster pending payment of the deferred purchase price; Axe Compute’s reliance on Duos and third-party service providers for facility, power and operational services; the application of the same structure to future deployments; the availability of power and facility capacity; the timing of deployment and customer delivery of the Georgia Cluster; the commencement, timing, deployment and activation of contracted customer projects; deployment and operational capabilities; customer demand; and the company’s ability to design, deploy, own and operate dedicated AI infrastructure at scale. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such statements. Axe Compute undertakes no obligation to update or revise forward-looking statements except as required by applicable law.

Media and Investor Relations Contact
Erin McMahon, CMO and Head of Investor Relations
ir@axecompute.com

Transaction Establishes New Structural Line of Business, Adding One of the Largest Independent Structural Steel Fabrication and Erection Platforms in the U.S.

HOUSTON, Oct. 05, 2026 (GLOBE NEWSWIRE) — IES Holdings, Inc. (“IES”) (NASDAQ: IESC) today announced the closing of its previously announced acquisition of DBM Global Inc. (“DBM Global”), a vertically integrated structural steel fabrication, erection and industrial construction and engineering services platform, for total consideration of approximately $691 million, consisting of cash and shares of IES common stock. IES acquired 100% of the common stock of DBM Global, including the approximately 91.2% interest held by INNOVATE Corp. (“INNOVATE”) (NYSE: VATE) and the remaining interests held by other DBM Global stockholders. Effective today, DBM Global will operate as IES’s new Structural line of business alongside IES’s existing Communications, Residential, Infrastructure Solutions, and Commercial & Industrial segments. DBM Global generated revenue of approximately $1.5 billion for the twelve months ended June 30, 2026.

“Today we welcome DBM Global’s approximately 4,000 employees to IES,” said Matt Simmes, President and Chief Executive Officer of IES. “DBM Global brings scaled engineering, fabrication and erection capabilities and a long track record of successfully delivering complex structural projects. We are also excited to work with DBM Global to offer a broader range of products and services so that together we deliver innovative solutions to our combined customer base, particularly in data center, industrial and infrastructure markets. We look forward to investing in DBM Global’s people, facilities and equipment and to working together on our customers’ most complex projects.”

“DBM Global is a premier business with an outstanding team and substantial long-term growth potential, and we believe it will be an excellent addition to IES’s portfolio of businesses,” said Jeff Gendell, Executive Chairman of IES. “As our largest acquisition to date, we were deliberate in how we financed the transaction, with a focus on maintaining our strong balance sheet by using a combination of cash, borrowings and IES equity. We expect substantial cash flow from both IES and DBM Global will allow us to rapidly repay acquisition-related borrowings while continuing to reinvest in our businesses and pursue additional opportunities.”

Rustin Roach, President and Chief Executive Officer of DBM Global, added, “Joining IES marks an exciting next chapter for our businesses and our people. IES’s long-term ownership approach and financial strength will allow us to accelerate investment in our operations while continuing to deliver for our customers, many of whom we have served for decades. We look forward to working alongside IES’s other operating segments to bring additional capabilities and capacity to our customers’ projects.”

Total consideration of approximately $691 million consisted of approximately $545 million in cash and 430,974 shares of IES common stock (as adjusted for IES’s two-for-one stock split effected on August 21, 2026) valued at approximately $146 million based on the closing price of IES common stock on October 2, 2026, subject to customary net working capital and other post-closing adjustments. The cash consideration includes a $35 million payment to INNOVATE in respect of the estimated cost to INNOVATE of participating in a joint election under Section 338(h)(10) of the Internal Revenue Code. IES funded the cash consideration with cash on hand and borrowings under its amended and expanded credit facility arranged by Wells Fargo.

Headquartered in Phoenix, Arizona, DBM Global operates through a family of established brands, including Schuff Steel, Banker Steel, GrayWolf, DBM Vircon and Aitken, with more than 2 million square feet of fabrication and operating facilities across the United States. DBM Global provides structural steel fabrication, erection and industrial construction and engineering services across commercial, industrial, data center, stadium and infrastructure end markets and has supplied structural steel and erection services to many of the country’s most recognizable projects.

About IES Holdings, Inc.
IES designs and installs integrated electrical and technology systems, provides infrastructure solutions and services, and delivers structural steel engineering, fabrication and erection to a variety of end markets, including data centers, residential housing, and commercial, industrial and infrastructure facilities. Our more than 16,000 employees serve clients primarily in the United States. For more information about IES, please visit www.ies-co.com.

Company Contact:
Tracy McLauchlin, Chief Financial Officer
IES Holdings, Inc.
(713) 860-1500

Investor Relations Contact:
Robert Winters
Alpha IR Group
(312) 445-2870
IESC@alpha-ir.com

Certain statements in this release may be deemed “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, all of which are based upon various estimates and assumptions that IES believes to be reasonable as of the date hereof. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “seek,” “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” the negative of such terms or other comparable terminology. These statements involve risks and uncertainties that could cause IES’s actual future outcomes to differ materially from those set forth in such statements. Such risks and uncertainties include, but are not limited to, a general reduction in the demand for our products or services; changes in general economic conditions, including supply chain constraints, high rates of inflation, changes in consumer sentiment, elevated interest rates, and market disruptions resulting from a number of factors, including geo-political events; competition in the industries in which we operate, which could result in the loss of one or more customers or lead to lower margins on new projects; the use of estimates in placing bids on fixed price contracts, variations from estimated contract costs and our ability to successfully manage and execute projects, the cost and availability of qualified labor and the ability to maintain positive labor relations, and our ability to pass along increases in the cost of commodities used in our business; our ability to enter into, and the terms of, future contracts; the existence of a small number of customers from whom we derive a meaningful portion of our revenues; reliance on third parties, including subcontractors and suppliers, to complete our projects; the inability to carry out plans and strategies as expected, including the inability to identify and complete acquisitions that meet our investment criteria, or the subsequent underperformance of those acquisitions; challenges integrating new businesses into IES or new types of work, products or processes into our segments; backlog that may not be realized or may not result in profits; failure to adequately recover on contract change orders or claims against customers; closures or sales of our facilities resulting in significant future charges or a significant disruption of our operations; the impact of future epidemics or pandemics on our business; an increased cost of surety bonds affecting margins on work and the potential for our surety providers to refuse bonding or require additional collateral at their discretion; the impact of seasonality, adverse weather conditions, and climate change; fluctuations in operating activity due to factors such as cyclicality, downturns in levels of construction or the housing market, and differing regional economic conditions; difficulties in managing our billings and collections; accidents resulting from the physical hazards associated with our work and the potential for accidents; the possibility that our current insurance coverage may not be adequate or that we may not be able to obtain policies at acceptable rates; the effect of litigation, claims and contingencies, including warranty losses, damages or other latent defect claims in excess of our existing reserves and accruals; costs and liabilities under existing or potential future laws and regulations, including those laws and regulations related to the environment and climate change, as well as the inability to transfer, renew and obtain electrical and other professional licenses; interruptions to our information systems and cyber security or data breaches; expenditures to conduct environmental remediation activities required by certain environmental laws and regulations; loss of key personnel, ineffective transition of new management, or general labor constraints; credit and capital market conditions, including changes in interest rates that affect the cost of construction financing and mortgages, and the inability of some of our customers to obtain sufficient financing at acceptable rates, which could lead to project delays or cancellations; limitations on our ability to access capital markets and generate cash from operations to fund our capital needs; the impact on our effective tax rate or cash paid for taxes from changes in tax positions we have taken or changes in tax laws; difficulty in fulfilling the covenant terms of our revolving credit facility, which could result in a default and acceleration of any indebtedness under such revolving credit facility; reliance on certain estimates and assumptions that may differ from actual results in the preparation of our financial statements and the impacts of new accounting, control and operating procedures resulting from new accounting pronouncements; uncertainties inherent in the use of percentage-of-completion accounting, which could result in the reduction or elimination of previously recorded revenues and profits; the recognition of potential goodwill, long-lived assets and other investment impairments; the existence of a controlling shareholder, who has the ability to take action not aligned with other shareholders or to dispose of all or a significant portion of the shares of our common stock it holds, which may trigger certain change of control provisions in a number of our material agreements; the relatively low trading volume of our common stock, which could increase the volatility of our stock price and could make it more difficult for shareholders to sell a substantial number of shares for the same price at which shareholders could sell a smaller number of shares; the possibility that we issue additional shares of common stock, preferred stock or convertible securities that will dilute the percentage ownership interest of existing stockholders and may dilute the value per share of our common stock; the potential for substantial sales of our common stock, which could adversely affect our stock price; the impact of increasing scrutiny and changing expectations from investors and customers, or new or changing regulations, with respect to climate change or environmental impacts of our operations; the cost or effort required for our shareholders to bring certain claims or actions against us, as a result of our designation of the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings; and the possibility that our internal controls over financial reporting and our disclosure controls and procedures may not prevent all possible errors that could occur, as well as other risk factors discussed in this document, in IES’s annual report on Form 10-K for the year ended September 30, 2025 and in IES’s other reports on file with the SEC. You should understand that such risk factors could cause future outcomes to differ materially from those experienced previously or those expressed in such forward-looking statements. IES undertakes no obligation to publicly update or revise any information or any forward-looking statements to reflect events or circumstances that may arise after the date of this release.

Forward-looking statements are provided in this press release pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of the estimates, assumptions, uncertainties, and risks described herein.

General information about IES Holdings, Inc. can be found at http://www.ies-co.com under “Investor Relations.” IES’s annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, as well as any amendments to those reports, are available free of charge through IES’s website as soon as reasonably practicable after they are filed with, or furnished to, the SEC.

RESTON, Va., Oct. 05, 2026 (GLOBE NEWSWIRE) — Science Applications International Corp. (NASDAQ: SAIC), a leading mission integrator supporting defense, space, intelligence, and civilian agencies, today announced it has completed the acquisition of Information Security Corporation (ISC).

For more than three decades, ISC has delivered public key infrastructure (PKI), encryption, and credential management software to some of the most security-conscious organizations in government and industry, providing the critical cryptographic building blocks for confidentiality, integrity, and availability of sensitive data. Engineered with a forward-looking focus on automation and crypto-agility, ISC’s product suite helps customers modernize their cryptographic infrastructure and transition to post-quantum cryptography. The suite spans PKI and data protection solutions, including CertAgent, which has been on the National Security Agency’s Commercial Solutions for Classified (CSfC) Components List for more than a decade.

“This strategic tuck-in acquisition reflects our disciplined approach to investing in technology and capabilities that address the nation’s most critical challenges,” said Jim Reagan, Chief Executive Officer of SAIC. “Integrating ISC’s mission-proven cryptographic technologies with SAIC’s pedigree of delivering and operating robust zero-trust architectures, provides our intelligence and defense customers with the security and scalability to protect against rapidly evolving threats.”

“Joining SAIC marks an exciting new chapter for ISC and our employees,” said Jonathan Schulze-Hewett, Vice President of Development at ISC. “For more than three decades, our team has built innovative products to solve some of our customers’ most difficult security challenges. Joining SAIC gives us the opportunity to build on that work and bring ISC’s technology to more customers and more missions.”

ISC’s technology is deeply embedded across the U.S. intelligence community and Department of War, supporting identity, authentication, and data protection in some of the government’s most sensitive environments.

Financial terms were not disclosed. SAIC was supported by KPMG and ISC was advised by TideLock Partners.

About SAIC
SAIC^® is a premier mission integrator focused on advancing the power of technology and innovation to serve and protect our world. Our robust portfolio of offerings across the defense, space, intelligence, and civilian markets includes secure high-end solutions in mission IT, enterprise IT, engineering services, and professional services. We integrate emerging technology, rapidly and securely, into mission critical operations that modernize and enable critical national imperatives.

We are approximately 23,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.3 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.

Media Contact: 
Caralyn Duke
publicrelations@saic.com

Forward-Looking Statements
Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at www.saic.com or on the SEC’s website at www.sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.

NEW YORK, Oct. 05, 2026 (GLOBE NEWSWIRE) — INNOVATE CORP.^® (NYSE: VATE) (“INNOVATE”) announced today that it has completed the previously announced sale of DBM Global, Inc. (“DBMG”) to IES Holdings, Inc. (Nasdaq: IESC) (“IES”) pursuant to the Transaction Agreement (the “Agreement”) announced on August 10, 2026 (the “Transaction”).

“Closing this transaction is a significant milestone for INNOVATE,” said Paul Voigt, Interim CEO of INNOVATE. “With these proceeds, we are substantially reducing our debt and strengthening INNOVATE’s balance sheet, which improves our financial flexibility as we focus on our remaining businesses. We want to thank Rustin Roach and his world-class team for their years of dedicated service and the tremendous value they have built. We wish Rustin and the team continued success as part of IES. INNOVATE’s remaining businesses are well positioned in attractive end markets, and we remain focused on executing our strategy, enhancing shareholder value and building on this momentum.”

Transaction Details

Under the terms of the Agreement, IES has acquired 100% of the outstanding shares of DBMG common stock — including approximately 91.21% previously held by INNOVATE (through DBM Global Intermediate Holdco Inc.) and the remaining approximately 8.79% previously held by other DBMG stockholders.

Consideration received by INNOVATE and DBM Global Intermediate Holdco Inc. (together, “Seller”) consisted of Seller’s approximately 91.21% pro rata share of the base purchase price, as adjusted at closing based on estimates of cash, working capital, indebtedness and transaction expenses of DBMG and certain additional adjustments as set forth in the Agreement. The purchase price remains subject to finalization following delivery of a post-closing statement and, if necessary, resolution of any disputes through an independent accounting firm. At closing, Seller received (subject to post-closing adjustments):

• approximately $378 million in cash, representing Seller’s portion of the $510 million cash consideration after giving effect to Seller’s receipt of 100% of the IES common stock issued as part of the total consideration and closing adjustments; and
• 430,974 shares of IES common stock (as adjusted for IES’s two-for-one stock split effected on August 21, 2026), valued at approximately $146 million based on the closing price of IES common stock on October 2, 2026.

The stock consideration is subject to a maximum 60-day lock-up period following the closing of the Transaction, subject to terms of the Agreement.

Each of the other DBMG stockholders will be entitled to receive its pro rata share of the base purchase price, subject to customary adjustments, entirely in cash.

In addition, Seller received $35 million in cash at closing as compensation for costs and obligations to be borne by Seller in connection with the joint tax election under Section 338 of the Internal Revenue Code being made with respect to the Transaction. Including this payment, Seller received total cash of approximately $413 million at closing.

Use of Proceeds

INNOVATE intends to use all net proceeds from the Transaction to reduce its outstanding debt.

For more information, please refer to the Current Report on Form 8-K to be filed by INNOVATE with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the completion of the Transaction.

You may obtain copies of all documents filed by INNOVATE with the SEC regarding this transaction, free of charge, at the SEC’s website, www.sec.gov or from INNOVATE’s website at https://www.innovate-ir.com/.

Advisors

Cleary Gottlieb Steen & Hamilton LLP served as legal advisor to INNOVATE in connection with the Transaction. Jefferies served as financial advisor to INNOVATE.

About INNOVATE

INNOVATE is a holding company that owns, operates and invests in a portfolio of best-in-class businesses in the Life Sciences and Spectrum markets. INNOVATE is focused on maximizing value through disciplined capital allocation, strategic oversight and operational support of its subsidiaries. For more information, please visit: http://www.innovatecorp.com.

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally relate to future events, including statements regarding post-closing adjustments to the purchase price under the Agreement; the value of the IES common stock received by INNOVATE and INNOVATE’s plans with respect to such stock; INNOVATE’s intended use of the net proceeds of the Transaction and its expected levels of indebtedness; and INNOVATE’s strategies with respect to its capital structure and its remaining businesses. You are cautioned that such statements are not guarantees of future performance and that INNOVATE’s actual results may differ materially from those set forth in the forward-looking statements. All of these forward-looking statements are subject to risks and uncertainties that may change at any time. Factors that could cause INNOVATE’s actual results to differ materially from these forward-looking statements include, but are not limited to (i) the outcome of post-closing purchase price adjustments, including any resolution of disputes under the Agreement; (ii) fluctuations in the market price of IES common stock, including during the lock-up period; (iii) INNOVATE’s ability to complete planned debt repayments on anticipated terms and timing; (iv) the performance of INNOVATE’s remaining businesses following the Transaction; (v) macroeconomic conditions; and (vi) the other factors under the heading “Risk Factors” set forth in INNOVATE’s Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, which are available on INNOVATE’s website or at www.sec.gov. You should not place undue reliance on these forward-looking statements, which are made only as of the date of this press release. INNOVATE undertakes no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events, or circumstances, except as may be required under applicable securities laws.

INNOVATE Investor Contact:
Solebury Strategic Communications
Jenna Kozlowski
(212) 235-2691
Email: ir@innovatecorp.com

ATLANTA, Oct. 05, 2026 (GLOBE NEWSWIRE) — DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the “Company”), a leading provider of digital, engineering, and scientific solutions for health and defense missions, today announced that it has been awarded a task order to design, develop, and pilot a data governance framework for secure access to controlled biomedical research data by the National Institutes of Health (“NIH”).

Under this task order, DLH will serve as a technical advisor to harmonize NIH and federal data policies and integrate governance workflows across biomedical data platforms, piloting a data management approach within the National Heart, Lung, and Blood Institute (“NHLBI”) and at least one other NIH Institute or Center which could serve as a roadmap for NIH-wide adoption.​ DLH will incorporate security, privacy, data rights, and artificial intelligence (“AI”) governance requirements where applicable, and collect performance metrics related to usability, compliance, interoperability, and stakeholder satisfaction.

“This award expands our role as a technical and strategic advisor to NIH and brings together DLH’s expertise in biomedical research, data governance, and secure digital solutions,” said Brooke Pierce, President of DLH’s Health business group. “We believe this work will strengthen our foundation for pursuing future enterprise-scale modernization opportunities as NIH evaluates broader adoption of the framework.”

This task order represents new work for DLH and has a total value of $2 million over an eighteen-month period of performance.

About DLH

DLH (NASDAQ: DLHC) enhances technology, public health, and cyber security readiness missions through science, technology, cyber, and engineering solutions and services. Our experts solve some of the most complex and critical missions faced by federal customers, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With a world-class workforce dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to innovative solutions to improve the lives of millions. For more information, visit www.DLHcorp.com.

Contact Information:

Investor Relations

investorrelations@dlhcorp.com

Media

communications@dlhcorp.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or DLH`s future financial performance. Any statements that refer to expectations, projections or other characterizations of future events or circumstances or that are not statements of historical fact (including without limitation statements to the effect that the Company or its management “believes”, “expects”, “anticipates”, “plans”, “intends” and similar expressions) should be considered forward-looking statements that involve risks and uncertainties which could cause actual events or DLH’s actual results to differ materially from those indicated by the forward-looking statements. Forward-looking statements in this release include, among others, statements regarding expected contract performance, future task order value, and anticipated operational benefits. These statements reflect our belief and assumptions as to future events that may not prove to be accurate. Our actual results may differ materially from such forward-looking statements due to a variety of factors, including: the failure to achieve the anticipated benefits of any future acquisition (including anticipated future financial operating performance and results); the inability to retain employees and customers; contract awards in connection with re-competes for present business and/or competition for new business; our ability to manage our debt obligations; compliance with bank financial and other covenants; changes in client budgetary priorities; government contract procurement (such as bid and award protests, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; significant delays or reductions in appropriations for our programs and broader changes in U.S. government funding and spending patterns; legislation that amends or changes discretionary spending levels or budget priorities; legal, regulatory, and political changes from the federal government that could result in economic uncertainty; the impact of inflation and higher interest rates; and other risks described in our SEC filings. For a discussion of such risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s periodic reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2025, as well as interim quarterly filings thereafter. The forward-looking statements contained herein are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our industry and business. Such forward-looking statements are made as of the date hereof and may become outdated over time. The Company does not assume any responsibility for updating forward-looking statements.