Tag: PR Newswire

Unprecedented $20 Million Initiative Aims to Eliminate College Debt, Drive Economic Growth, and Set a New National Model for Student Success

HARTFORD, Conn., April 11, 2025 /PRNewswire/ — The Hartford Foundation for Public Giving today announces the launch of the Greater Futures Scholarship Fund, a pioneering new initiative that provides qualifying Hartford Public School students with up to $100,000 over four years to pursue higher education — without the crushing burden of student debt.

This first-of-its-kind program, developed in partnership with Hartford Promise, marks a bold investment in education, economic mobility, and Greater Hartford’s future as part of the Foundation’s 100th anniversary initiatives.

The scale of the initiative — the number of students it will support, the size of the financial investment, and the breadth of resources provided — is unlike any other program of its kind in the U.S.

With an initial $20 million investment, the Hartford Foundation will award each qualifying member of the Class of 2025 with $20,000 annually, which paired with Hartford Promise’s existing $5,000 annual scholarship award, will provide scholars with up to $25,000 per year — or up to $100,000 over four years.

More than 110 members of the Class of 2025 will receive the scholarship, with plans to expand the program to support as many as 500 students annually.

“Every student deserves the freedom to choose their own future without being held back by financial barriers,” said Jay Williams, President and CEO of the Hartford Foundation. “The Greater Futures Scholarship Fund is more than just tuition assistance — it’s a comprehensive support system that will change lives, strengthen communities, and serve as a national model for education-driven economic transformation.”

A Scholarship Unlike Any Other

In addition to significantly lowering or eliminating student debt for hundreds of future graduates annually, the Greater Futures Scholarship Fund delivers each student up to 10 years of wraparound support through Hartford Promise’s highly successful Reaching Forward, Reaching Back program. Services include:

• One-on-one coaching for academic and career guidance
• Financial assistance for books, laptops, and emergency needs
• Mental health support and wellness resources
• Soft skills training in time management, professionalism, and resume writing
• Career development including internships, mock interviews, and networking opportunities.

With a last-dollar scholarship paired with full wraparound support, the program is designed to empower students to excel in their classwork, graduate from college, and continue to develop as leaders in their communities.

Who Qualifies?

The Greater Futures Scholarship Fund is open to all Hartford Public School students who meet the following criteria:

• Hartford resident enrolled continuously in Hartford Public Schools since 9th grade.
• 93% attendance rate or higher throughout high school.
• 3.0 GPA or higher on a 4.0 scale.

An Investment in Hartford’s Future

The impact of student debt extends far beyond individual graduates — it affects families, communities, and the broader economy.

By significantly reducing or eliminating college debt, the Greater Futures Scholarship Fund will empower graduates to buy homes, start families, invest in businesses, and build wealth — without the constraints of student loans.

The new scholarship will also have tangible benefits for the city of Hartford, providing incentives for families to live in the city, send their children to city schools, and remain actively engaged in their educational journey.

“This program is truly transformative — not just for students, but for the entire city of Hartford,” said Sivan Hines, M.D., president of Hartford Promise. “It incentivizes families to stay in Hartford, strengthens our local workforce, and sets a new precedent for how philanthropy can drive economic growth.”

Join the Movement
As part of its centennial celebration in 2025, the Hartford Foundation has also launched a $10 million fundraising campaign to expand the reach of the Greater Futures Scholarship Fund. Donors and corporate partners are invited to be part of this groundbreaking initiative to ensure that every Hartford student has the freedom to dream, achieve, and succeed.

“This isn’t just about college — it’s about creating generational change that elevates all Hartford residents,” Williams said. “Together, we can break the barriers of college debt, open doors for more employment opportunities, and set a bold new standard for what’s possible when philanthropy, higher education, and policy makers work together.”

For more information on the Greater Futures Scholarship Fund or to learn how you can support this initiative, visit: https://www.hfpg.org/donors/ways-to-give/greater-futures-scholarship-fund

About the Hartford Foundation for Public Giving
The Hartford Foundation for Public Giving is the community foundation for Hartford and 28 surrounding towns. Through partnerships, the Foundation seeks to strengthen communities in Greater Hartford by putting philanthropy in action to dismantle structural racism and achieve equity in social and economic mobility. Made possible by the gifts of generous individuals, families and organizations, the Foundation has awarded grants of more than $1 billion since its founding in 1925. For more information, visit www.hfpg.org or call 860-548-1888.

About Hartford Promise
Since 2012, Hartford Promise has transformed student success with $5,000 annual scholarships and wraparound support. With one of the highest college graduation rates among first-generation and low-income students in the nation, Hartford Promise sets the standard for innovative, student-centered education solutions.

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SOURCE Hartford Foundation for Public Giving

Newly independent beauty brand deepens its commitment to Black maternal health equity by offering grants for free doula services to Black families and providing maternal health equity trainings to all

NEW YORK, April 11, 2025 /PRNewswire/ — Carol’s Daughter proudly celebrates the fifth year of its groundbreaking Black maternal health initiative, Love Delivered. Since its inception, Love Delivered has been committed to improving maternal health for Black women and birthing people, and in 2025, the initiative continues to empower, support, and uplift Black and Brown birthing people and their communities through impactful programs and partnerships.

Carol’s Daughter’s Love Delivered is expanding access to doula care with a new round of doula grants. Current pregnant or postpartum families in cities including New York City, Miami, Los Angeles, Atlanta, New Orleans, and Washington, D.C. are encouraged to apply for pro bono doula services through the grant program HERE.

According to the CDC, overall maternal mortality rates have been decreasing in the United States, yet Black women remain disproportionately impacted by maternal mortality and morbidity. Black women were found to be more than twice as likely to experience severe pregnancy-related complications and more than 3.4x as likely to die compared to white women.

“In Love Delivered we remain committed to Black maternal health equity and are working to provide full access and maternal health education and equitable support to every Black birthing person before, during and after birth,” said Lisa Price, President and founder of Carol’s Daughter. “As we enter our fifth year, I am proud of what we’ve accomplished and more committed than ever to ensuring that Black birthing people feel seen, heard, and importantly, valued.”

To date, the Love Delivered initiative, in partnership with the Mama Glow Foundation, has engaged nearly 500,000 people through events, grants, and education, funded doula support for over 120 births, and reached nearly 10 billion people through digital advocacy efforts.

“It warms my heart that we have touched so many lives through this partnership. We’ve created a blueprint and have led the charge in advocating for improved maternal health. We are not only ensuring Black women have access to free doula support, but also creating additional pathways for doulas to make a thriving wage as birth professionals,” said Latham Thomas, founder of the Mama Glow Foundation. “Together, we’ve modeled how advocacy, education, and service can come together to inspire new standards of care for Black birthing people nationwide.“

In honor of this year’s Black Maternal Health Week (April 11-17), Mama Glow will host a webinar on April 16 at 6:30 PM ET, titled Mama Glow Webinar: Black Maternal Health Week – Bumping While Black: Navigating Perinatal Wellness & Advocacy, sponsored by Carol’s Daughter. Featured panelists include Latham Thomas (Mama Glow), Dr. Rhonia Brooks, MD, FACOG, Vanessa Williams Jones, MS, RD, LD and Georbina DaRosa, LMSW. This year’s Black Maternal Health Week theme is “Healing Legacies: Strengthening Black Maternal Health Through Collective Action and Advocacy,” and highlights the leadership of Black-led perinatal, maternal, and reproductive health organizations in advancing systemic change and fostering community healing.” Registration is available HERE.

Carol’s Daughter also continues its impactful collaboration with NewYork-Presbyterian’s Dalio Center for Health Justice to support the needs of obstetric and pediatric patients. After a successful pilot offering hair kits for patients with curly, coily, and tightly textured hair at NewYork-Presbyterian/Weill Cornell Medical Center in 2021, the initiative has expanded to include multiple campuses in the academic healthcare system. To date,  Carol’s Daughter has distributed over 30,000 hair care products to NewYork-Presbyterian patients and community members.

In partnership with longtime retailer partner CVS, Carol’s Daughter will continue raising awareness for the Mama Glow Foundation’s mission to improve the maternal health experience with in store displays highlighting the program in more than 2000 doors.

Join Carol’s Daughter in the continued fight for Black maternal health. Learn how to become an advocate at www.carolsdaughter.com/lovedelivered and follow @CarolsDaughter and @MamaGlow on Instagram for updates.

About Carol’s Daughter
In 1993, encouraged by my mother, Carol, I began creating high-quality products made with love in my Brooklyn kitchen. As family and friends experienced how these products transformed their hair and skin, I knew that I was onto something good. I needed a name for my company, so I made a list of everything I was and everything I wanted to be, and I realized that the most special thing that I am is Lisa, Carol’s Daughter.
– Lisa Price, Carol’s Daughter Founder

About The Mama Glow Foundation
The Mama Glow Foundation is a 501c3 non-profit committed to advancing reproductive justice and birth equity through education, advocacy, and the arts as well as research and scholarship. The foundation strives to improve maternal health outcomes in 3 primary ways: Providing educational scholarships to aspiring doulas and midwives, engaging in robust workforce and professional development pathways for doulas to provide expanded doula care for vulnerable populations, and working with educational partners and engaging in research and advocacy. www.mamaglowfoundation.org

Media Contact: Nicole.Newsum@civic-us.com 

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SOURCE Carol’s Daughter

NEWARK, Calif., April 11, 2025 /PRNewswire/ — Lucid Group, Inc. (Nasdaq: LCID), maker of the world’s most advanced electric vehicles, today announced it has reached an agreement to acquire select facilities and assets in Arizona previously belonging to Nikola Corporation, subject to approval by the U.S. Bankruptcy Court for the District of Delaware. The transaction does not include the acquisition of Nikola’s business, customer base, or technology related to Nikola’s hydrogen fuel cell electric trucks.

Additionally, Lucid plans to offer employment to more than 300 former Nikola employees in roles across Lucid’s Arizona facilities. These offers will encompass various technical salaried and hourly positions including manufacturing engineering, software, assembly, vehicle testing, and warehouse support as Lucid welcomes employees with strong backgrounds in EV technology and further supports its local community.

As part of the agreement, Lucid will take over Nikola’s former Coolidge manufacturing facility (680 E Houser Rd, Coolidge, AZ), as well as the Phoenix facility (4141 E Broadway Rd, Phoenix, AZ) previously used as Nikola’s headquarters and product development center. These buildings collectively add more than 884,000 square feet to Lucid’s Arizona footprint. Most of this space is comprised of state-of-the-art manufacturing and warehousing buildings, which executes against Lucid’s prior planned expansion in Arizona. These facilities also include development equipment with extensive battery and environmental testing chambers, a full-size chassis dynamometer, machining equipment, and more.

Lucid’s agreement to acquire the aforementioned assets follows Nikola’s bankruptcy auction which concluded on April 10, 2025, as part of its filing for Chapter 11 bankruptcy relief.

“As we continue our production ramp of Lucid Gravity and prepare for our upcoming midsize platform vehicles, acquiring these assets is an opportunity to strategically expand our manufacturing, warehousing, testing, and development facilities while supporting our local Arizona community,” said Marc Winterhoff, Interim CEO at Lucid. “We are delighted to extend employment offers to more than 300 former employees, who bring valuable industry experience, and together with our outstanding teams, will continue powering Lucid’s industry-leading innovation.”

“Today’s announcement is fantastic news for Arizona workers and our state’s growing EV and battery manufacturing industry,” said Arizona Governor Katie Hobbs. “Arizona is the proud home of Lucid’s advanced EV manufacturing lines – and this acquisition promises to strengthen Lucid’s operations while offering continued employment to hundreds of skilled workers in our state.”

“I am honored to work with the local Lucid team to support the asset acquisition efforts of Nikola Corporation in my hometown of Coolidge,” said Arizona state Senator T.J. Shope. “This investment will be instrumental in helping those impacted by job loss to regain employment by Lucid and further solidify Lucid’s commitment to growth in Pinal County and our state, by utilizing the Coolidge facility for Lucid manufacturing operations.”

 About Lucid Group

Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The award-winning Lucid Air and new Lucid Gravity deliver best-in-class performance, sophisticated design, expansive interior space and unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factory in Arizona. Through its industry-leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology for the benefit of all.

Media Contact

media@lucidmotors.com

Forward-Looking Statements

This communication includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “shall,” “expect,” “anticipate,” “believe,” “seek,” “target,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Lucid’s expectations related to offers of employment and the planned acquisition of facilities and assets. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid’s management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed under the heading “Risk Factors” in Part I, Item 1A of Lucid’s Annual Report on Form 10-K for the year ended December 31, 2024, as well as other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid’s expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid’s assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

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SOURCE Lucid Group

Celebrating 10 years of honoring exceptional leadership in sustainability, global citizenship, and education

SEOUL, South Korea, April 11, 2025 /PRNewswire/ — The Sunhak Peace Prize Ceremony took place on Friday, April 11, at the Crystal Ballroom of Lotte Hotel World, Seoul, attended by over 750 international guests, including global leaders, former heads of state, and prominent civil society representatives. Celebrating its 10th anniversary, the Prize honored three distinguished leaders for their significant contributions in environmental sustainability, global citizenship, and educational innovation.

Wanjira Mathai from Kenya was recognized for her outstanding environmental leadership, notably through the AFR100 initiative and the Green Belt Movement. Her dedicated efforts have contributed significantly to environmental restoration, with over 51 million trees planted to rehabilitate degraded landscapes across Africa.

Hugh Evans from Australia, co-founder and CEO of Global Citizen, received the prize for his exceptional commitment to global citizenship. Through his leadership, Global Citizen mobilized over $43 billion, directly impacting the lives of more than 1.3 billion individuals worldwide by addressing poverty, health, education, and access to essential services.

Patrick Awuah Jr., founder of Ashesi University in Ghana, was honored for transforming African higher education. His visionary leadership introduced innovative curricula emphasizing ethics, gender equality, critical thinking, and leadership. Ashesi University is now recognized as a pioneering institution, producing graduates equipped to lead positive social change across Africa and beyond.

The Founders’ Award was presented to former Nigerian President Goodluck Jonathan for his contributions to peaceful democratic transitions and good governance, and Samuel Radebe from South Africa for his dedication to interreligious harmony and community peace in Africa. Meanwhile, the awarding of the Founders’ Award to Xanana Gusmão, Prime Minister of Timor-Leste, was postponed due to unavoidable circumstances.

In his congratulatory remarks, former UN Secretary-General Ban Ki-moon stated, “On its 10th anniversary, the Sunhak Peace Prize continues to spotlight the vital contributions of unsung heroes to global peace and solidarity. I deeply commend the laureates for their inspiring dedication and extend heartfelt gratitude to Founder Dr. Hak Ja Han Moon for her visionary leadership and unwavering support of global peace efforts.”

For more information, please visit www.sunhakpeaceprize.org or contact:
Sunhak Peace Prize Secretariat
sunhakprize@gmail.com

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SOURCE The Sunhak Peace Prize Committee

BLOOMFIELD, Conn., April 10, 2025 /PRNewswire/ — In an effort to aid local communities impacted by the Southern California wildfires, The Cigna Group and basketball legend Earvin “Magic” Johnson joined forces on a Bright Futures Carnival that provided Boys & Girls Club of Pasadena kids with a fun-filled day of activities, food and gifts – along with a special visit from the basketball legend himself.

The local Pasadena, Calif. community, as well as other areas, experienced devastating losses due to the fires. In all, 75 families from the Boys & Girls Club of Pasadena lost their homes, along with five local schools, including Odyssey Charter School, where Boys & Girls Club of Pasadena had a Clubhouse and afterschool program. The carnival aimed to provide a day of much-needed relief for kids and their families whose lives have been uprooted by the disaster.

“In the aftermath of the fires, many local children remain without access to vital resources and are facing increased mental health challenges such as anxiety, fear and grief,” said David M. Cordani, chairman and CEO of The Cigna Group. “The Boys & Girls Club of Pasadena is a pillar of support in this community, and we are honored that our long-term partner, Mr. Johnson, brought some much-needed joy and spread his special gift of positivity and inspiration to the kids and staff.”

“I’m so happy that we were able to provide a much-needed day of fun to local Altadena and Pasadena children, as well as others in surrounding communities. It’s so important for us to come together and support these families whose lives have been changed forever,” Mr. Johnson said. “I was fortunate to spend the day with so many of these special families, provide some encouragement and much-needed items – and most importantly – show that we’re here for them. Thank you to the Pasadena Boys & Girls Club for serving these communities at a time they need it most.”

Volunteers from The Cigna Group joined Mr. Cordani and Mr. Johnson to host the carnival at the Boys & Girls Club of Pasadena Slavik Clubhouse. Highlights of the event included:

• Food Truck Lunch: Kids enjoyed a delicious lunch from local food trucks.
• Outdoor Activities: The carnival kicked off with outdoor games and activities, providing a fun and engaging environment for the children.
• Carnival Stations: Kids rotated through various stations, including pop-a-shot, carnival games, and snack stations.
• Gifts: Each family received Ralph’s gift cards, along with LA Lakers and Dodgers items, and mental health packs from The Cigna Group.

“We are grateful for the support from The Cigna Group and Mr. Johnson,” said Lisa Cavelier, CEO of the Boys & Girls Club of Pasadena. “They are showing up for us when our community needs them the most.”

In January, The Cigna Group Foundation donated $150,000 to support local wildfire relief efforts and this week, The Cigna Group donated an additional $25,000 to the Boys & Girls Club of Pasadena. Since 2024, The Cigna Group Foundation has donated $250,000 to Boys & Girls Clubs of America to support youth mental health programming.

About The Cigna Group

The Cigna Group (NYSE:CI) is a global health company committed to creating a better future built on the vitality of every individual and every community. We relentlessly challenge ourselves to partner and innovate solutions for better health. The Cigna Group includes products and services marketed under Cigna Healthcare, Evernorth Health Services or its subsidiaries. The Cigna Group maintains sales capabilities in more than 30 countries and jurisdictions and has more than 186 million customer relationships around the world. Learn more at thecignagroup.com.

About The Cigna Group Foundation

The Cigna Group Foundation is a private foundation funded by contributions from The Cigna Group (NYSE:CI) and its subsidiaries. The Cigna Group Foundation aims to support, collaborate, and convene with nonprofit organizations addressing society’s greatest health challenges. In addition to increasing access to programs and care in geographies demonstrating significant need, the Foundation responds with humanitarian aid relief during critical times and strengthens colleagues’ support of causes through matching donations and volunteer rewards. To learn more, visit www.thecignagroup.com/community.

Media Contact
Jocelyn Parker
(313) 510-4173
Jocelyn.Parker@CignaHealthcare.com 

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SOURCE The Cigna Group

Merck for Mothers’ grant of half a million dollars will help expand the reach of Baby2Baby’s initiative to combat the maternal health crisis across the country

LOS ANGELES, April 10, 2025 /PRNewswire/ — Baby2Baby, the national nonprofit that has distributed over half a billion essential items to children in need across the U.S. over the last 14 years, announced the expansion of its initiative to combat the maternal health crisis. This year with a $500,000 grant from Merck for Mothers, Baby2Baby will deliver an additional 3,000 Maternal Health & Newborn Supply Kits to mothers and their babies across the country, immediately after giving birth.

U.S. maternal mortality rates have more than doubled in the last 20 years, with mental health cited as the leading cause of maternal mortality – disproportionately impacting Black mothers. The goal of the program is to address the mental health struggles of new mothers who cannot afford essential items for their babies. Baby2Baby’s Maternal Health & Newborn Supply Kits contain items that are vital for the health and wellbeing of both mother and newborn including diapers, hygiene products, breastfeeding supplies, postpartum care and educational resources.

“We are incredibly grateful for this generous donation from Merck for Mothers which will allow Baby2Baby to distribute thousands of Maternal Health & Newborn Supply Kits to new moms and their babies immediately after birth,” said Baby2Baby Co-CEOs Norah Weinstein and Kelly Sawyer Patricof. “When we provide these critical items to mothers, it helps alleviate the stress of struggling to meet their baby’s most basic needs during an already vulnerable time.”

“Through Merck for Mothers, we are committed to helping improve maternal health outcomes in the U.S. and around the world,” said Cristal Downing, chief communications & public affairs officer, Merck. “We are driven by our purpose to save and improve lives and are proud to support Baby2Baby’s efforts to help more mothers in need access essential resources to keep themselves and their babies healthy in the earliest days of life.”

In 2023, Baby2Baby was selected to pilot a program alongside the U.S. Department of Health & Human Services to combat the maternal health crisis. After a successful pilot in three states with the highest maternal mortality and child poverty rates – Louisiana, Arkansas and New Mexico – the program is now expanding to fifteen states including California, New York, Texas, Mississippi, Tennessee, Alabama, Georgia, Pennsylvania, New Jersey, Florida, South Carolina, and Virginia – in addition to the three pilot states. The expanded program is expected to reach 18,000 mothers in 2025 alone.

About Baby2Baby: 
Baby2Baby is a non-profit organization that provides children in need with diapers, formula, clothing, and the basic necessities that every child deserves, serving more than one million children across all 50 states. Led by Co-CEOs Kelly Sawyer Patricof and Norah Weinstein, the organization has distributed over 500 million items over the past 14 years to children in homeless shelters, domestic violence programs, foster care, hospitals and school districts as well as children who have lost everything in the wake of disaster. The organization’s success has been propelled forward by its industry-leading model that is redefining what it means to operate a non-profit with a seamless integration of impact, innovation, and influence, which earned them recognition as the #1 non-profit on Fast Company’s World’s Most Innovative Companies List and praise from TIME Magazine as one of 2023’s most influential companies. To learn more about Baby2Baby please visit www.baby2baby.org.

About Merck for Mothers:
Merck for Mothers is Merck’s $650 million global initiative to help create a world where no woman has to die while giving life. Applying Merck’s business and scientific resources, the initiative collaborates with partners to improve the health and well-being of women during pregnancy, childbirth and the postpartum period. For more information, visit www.merckformothers.com.

MEDIA CONTACT:
Sunshine Sachs Morgan & Lylis
baby2baby@ssmandl.com

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SOURCE Baby2Baby

BOSTON, April 10, 2025 /PRNewswire/ — Sinovac Biotech Ltd. (NASDAQ: SVA) shareholder Heng Ren Partners, LLC sent a letter on April 8, 2025, to Sinovac’s Board calling on the Board to disclose the record and payment dates of the special cash dividend announced on April 1, 2025.  More than a week after the dividend announcement, these simple and essential details oddly remain undisclosed.  Heng Ren previously sent the Board a letter on March 19, and received no response.  The April 8 letter urges Sinovac to pay an additional dividend of $41 per share, which would pay shareholders a total of $96 per share and leave Sinovac with more than $1.3 billion net cash on hand – an amount more than sufficient for Sinovac’s operating needs.  Heng Ren encourages like-minded shareholders to visit https://www.hengreninvestment.com/sinovac-fairness/ and contact Sinovac directly.

The full text of the letter follows:

April 8, 2025

Dear Board of Directors:

I write on behalf of Heng Ren regarding our March 19, 2025 Shareholder Demand for Cash Distribution and Inspection of Books and Records (the “Shareholder Demand“) and the Company’s press release dated April 1, 2025 (the “Press Release“), in which the Board announced a special cash dividend of US$55.00 per common share (the “Dividend“).¹  Specifically, the Press Release stated that the Board expects to “fund the Dividend from available cash resources of the Company and its subsidiaries, including prior distributions from Sinovac Life Sciences Co., Ltd. and other operating subsidiaries of the Company.”  Heng Ren also notes that the Board announced that the “Dividend is intended to provide [Company] shareholders with their appropriate share of these prior distributions from the Company’s subsidiaries.”

Heng Ren is encouraged that the Board has announced the Dividend, which is consistent with its fiduciary obligations to allow shareholders finally to receive some benefit of their investment in Sinovac.  But more is required.  In order to increase transparency and trust, and ensure that Sinovac shareholders receive the benefit of their investment, the Board must immediately disclose the exact timing of the record and payment dates, and mechanics for the payment of the announced Dividend. This disclosure is especially critical given that shareholders still are unable to trade their shares due to the continued trading halt on the Nasdaq. The Board should also provide an update this week on the status of the resumption of trading of Sinovac’s stock as it is of critical importance to all shareholders. 

Furthermore, even after paying the Dividend, the Company still will be holding more than $6.3 billion in net cash and cash equivalents.  We see no rational business reason for the Company to continue to sit on that much cash.  The time to distribute the cash is now.  Therefore, the Board must not only cause the Company to pay the Dividend, but also cause the Company to pay an additional special dividend of $41 per share.  Such a dividend payment would leave the Company with more than $1.3 billion net cash on hand, an amount well above its operating needs. 

The issue of excess cash and its distribution is not only a matter of interest to shareholders like us. It also is of interest to the U.S. Securities and Exchange Commission (SEC).  As Heng Ren referenced in its letter dated March 19, 2025, in the correspondence from the SEC’s Division of Corporate Finance to Sinovac dated June 26, 2023, the SEC specifically asked the Company to describe “any restrictions and limitations on [its] ability to distribute earnings from the [C]ompany . . . to U.S. investors.”  In response, Sinovac did not identify any limitations on its ability to make distributions to investors, but simply stated it had no intention of distributing dividends in the near future.  At that time, the Company was sitting on more than $10.0 billion in net cash or cash equivalents.  This action (or inaction) precluded Sinovac’s shareholders from benefiting from the billions of dollars in cash that their investment had created.

Without a clear timeline on the payment of the announced $55 cash dividend, and Sinovac’s problem of excess cash still unaddressed, from a shareholders’ perspective the situation hasn’t changed since 2023 when the SEC sent its inquiry to Sinovac.

As demonstrated by the Company’s June 30, 2024 financial report, Sinovac’s cash on hand – without any revenue or operating cash flow, and after distribution of the $55 cash dividend –would finance nearly nine years of capital expenditures.

Sinovac can responsibly distribute not only the $55 cash dividend, but an additional special dividend of $41 per share.  The board and shareholders all should be aligned and in agreement for the distributions. These distributions pale in comparison to the opportunity cost of Sinovac’s shares being halted from trading when the Company’s value peaked in 2021. Long-oppressed shareholders now are entitled to receive this cash.

Heng Ren reiterates its previous demand to inspect and to make copies or extracts from, the books and records set forth in Section II.C (Parts 1-9) of its Shareholder Demand.

About Heng Ren:

Heng Ren Partners is a Boston-based asset management firm investing in Chinese companies.  Ropes & Gray LLP is serving as its legal counsel.

¹ Capitalized terms undefined herein shall have the same meanings ascribed to them in the Shareholder Demand.

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SOURCE Heng Ren Partners

The new attestation meets financial-level assurance standards and makes Deepki the world’s first sustainability platform to achieve this standard

PARIS, April 10, 2025 /PRNewswire/ — Deepki, the leading sustainability SaaS solution, announces today that it has successfully attained ISAE 3000 Type 2 attestation, reinforcing its standing as the most trusted sustainability platform in the industry. This marks another milestone in its commitment to providing audit-ready data at an enterprise level to customers. ISAE 3000 Type 2 attestation ensures that sustainability data is held to the same rigorous assurance standards as financial information, to guide strategic business decisions and comply with non-financial regulation, while providing reliable data-driven climate risk management. 

ISAE 3000 Type 2 attestation means that the data collected by Deepki has been processed according to the most stringent quality standard and meets audit requirements. Conducted by KPMG, the attestation goes beyond Type 1 by not only evaluating the design of Deepki’s controls but also verifying that they operate effectively throughout the year.

Setting the industry benchmark

Deepki is the only sustainability SaaS solution worldwide to have secured ISAE 3000 Type 2 attestation, establishing it as the gold standard for sustainability data management. Deepki chose to apply this financial-level standard to its processes due to the critical  importance placed on reliable sustainability data by clients, auditors, and investors. 

By meeting these high standards, commercial real estate investment management companies working with Deepki deliver audit-ready sustainability reporting, better business orientations, and reduced climate-related risks. They also save time and resources by reducing the need for additional quality checks and focusing on outcomes.

Vincent Bryant, CEO and Co-founder of Deepki, comments: “Unlike other companies that merely collect and report data without such a certification, commercial real estate actors leveraging ISAE3000 Type 2 with Deepki prove that their entire process – data extraction, validation and transformation – meets the highest international standards for quality and consistency.  They can now operate with even greater confidence, knowing that their sustainable system, powered by Deepki, is continuously being scrutinised and validated by a Big 4 auditor. This highest level of rigour delivers unmatched trust in sustainability data management and empowers organisations with the solutions they need to drive profitable sustainability actions.”

Deepki is the leading and most trusted sustainability SaaS solution in real estate.

www.deepki.com

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SOURCE Deepki

See how the iconic candy brand plans to give back by sharing a little peace, love and vines

LA PORTE, Ind. , April 10, 2025 /PRNewswire/ — 

National Licorice Day History

When the National Confectioners Association and Licorice International established National Licorice Day on April 12th, 2004, it was unlikely they could foresee the many, many ways this delicious day would be celebrated over the course of the next two decades.

Prior year celebrations included things like a 2017 “Made in California” tour, where a customized Red Vines VW bus made its way around California to deliver candy. In 2020, the brand launched a nationwide drawing contest, resulting in 30 lucky artists’ work being featured on the inner tray of Red Vines Original Twists packaging.

2025 Celebrations

This year, the RED VINES® candy brand is once again living up to its brand purpose of sharing peace, love and vines, but in a few brand-new ways.

Though National Licorice Day has always been an opportunity to engage licorice candy fans and consumers, this year the brand extended an extra bit of sweetness to a handful of community partners across all manufacturing locations for parent company, American Licorice Co., including Indiana, California, and Texas.

Custom Red Vines jars were printed for each partner, and members of the American Licorice leadership team were onsite to present these special jars (along with a few extra sweets & treats) to organizations like Boys & Girls Club of La Porte County, Dunebrook, and The Pax Center food bank.

The brand also challenged another one of its partner organizations, Future Black Leaders, INC., to come up with some new and creative ways to celebrate the day with Red Vines candy.

For the Fans

The brand wasn’t going to forget about the longtime fans who’ve been enjoying Red Vines candy for over 70 years. Red Vines fans will be challenged to take a photo with their favorite candy at a sporting event, and from the submissions, 10 winners will be chosen to receive a special Red Vines bundle.

Visit @redvinescandy on Instagram or Facebook for more information about this year’s giveaway.

American Licorice will also be offering special discounts and promotions on their online store, featuring many of the classic Red Vines candy favorites.

What’s Next?

Though National Licorice Day falls but once a year, American Licorice Company continues to work on new and exciting innovations across all their brands – Red Vines being no exception. The company recently introduced the newest evolution for the Red Vines brand, with the creation of a new line of items under the sub-brand, Vines.

The first item to launch is Vines Gummy Peaces, soft and chewy gummy candies in a variety of tropical flavor combinations that are part of the brand’s vision of the next generation of candy under the legacy Red Vines brand. And, they’re another new and delicious way to keep sharing peace, love and vines for years to come.

About Red Vines Candy
RED VINES® candy is the deliciously rewarding treat that has been making special moments even sweeter for generations. For over 70 years, the Red Vines brand has delivered exceptional flavor that sets itself apart from the competition. Made in small batches, using artisanal techniques passed down through five generations, Red Vines candy has a rich heritage built on dedication to consistent quality, flavor, and freshness. Whether you pick-up our classic tray at the movie theater or pack up the iconic jar for a family picnic, Red Vines candy continues to be an essential part of celebrating life’s sweet moments for decades.

About American Licorice Company 
Family-owned and operated since 1914, the American Licorice™ Company is one of the original licorice manufacturers in the United States, and one of oldest privately held candy companies in the industry. American Licorice seeks to bring happiness in every bite with the best-selling brand of licorice candy in the western United States, Red Vines candy. In 1990, American Licorice Co. was one of the first candy companies to expand into the sour candy market with the launch of SOUR PUNCH® candy. American Licorice is headquartered in La Porte, IN and has a production facility in Union City, CA.

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SOURCE American Licorice Company

MANASQUAN, N.J., April 10, 2025 /PRNewswire/ — Jersey Mike’s Subs and customers across North America rallied to raise over $30 million to help more than 200 local charities during the company’s 15^th Annual Month of Giving in March.

Jersey Mike’s locations in the U.S. and Canada accepted donations throughout the month, building to the company’s Day of Giving on March 26, when more than 3,000 restaurants donated 100 percent of sales, not just profits, to local charities including hospitals, youth organizations, food banks and more.
(View/download b-roll from past years)

“Together, we’re making a difference in people’s lives thanks to all of you,” said Peter Cancro, Jersey Mike’s Founder and CEO, who this year celebrates 50 years since he bought his first sub shop at age 17.

This fundraising total exceeds the $25 million raised during last year’s campaign.

With this year’s donation, Jersey Mike’s has raised $143 million for local charities since Month of Giving began in 2011.

“Giving…making a difference in someone’s life” has been the mission of Jersey Mike’s from the beginning.

About Jersey Mike’s
Jersey Mike’s Subs, with more than 4,000 locations open and in development, serves authentic fresh sliced/fresh grilled subs on in-store freshly baked bread — the same recipe it started with in 1956. Passion for giving in Jersey Mike’s local communities is reflected in its mission statement “Giving…making a difference in someone’s life.” For more information, please visit our website or follow us on Facebook, Instagram, TikTok, and X. Join the conversation at #JerseyMikesGives.

Contact: Kyle Potvin, kpotvin@splashllc.com, 917-838-4500

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SOURCE Jersey Mike’s Subs