ARCW - ARCW STOCK NEWS

ARC Group has announced its acquisition of a controlling profit-sharing interest in Luminous Capital Inc., a US-based private equity firm. This move is intended to enhance ARC Group's advisory services and establish a presence in New York City, a crucial financial hub. The partnership is expected to leverage Luminous's expertise in the legal cannabis sector, facilitating unique investment opportunities and deeper client relationships. Notably, Luminous will launch a high-yield private credit fund, targeting rapid growth in the cannabis market. This acquisition aligns with ARC Group's strategic goal of expanding its global reach in financial advisory.

ARC Group, a leader in financial services based in Shanghai, has signed a share purchase agreement to acquire 100% of Scandinavian consultancy Asia Perspective for USD 12.8M. This strategic acquisition aims to enhance ARC's global financial advisory capabilities, especially in cross-border M&A. The integration of Asia Perspective's expertise is expected to foster synergies in various service areas, including operational restructuring and corporate strategy. The deal aligns with ARC Group's growth strategy, particularly in connecting Asian markets with Nordic companies.

ARC Group Worldwide, Inc. (ARCW) reported strong demand for its BLOCKPal™ pallets following its merger with RM2 International S.A. Demand outstrips supply as retailers seek smart, high-performance pallets. The company maintained gross margins despite inflation, becoming EBITDA positive in June 2022. However, due to unmet performance metrics, 11,594,619 shares were canceled, resulting in 116,099,776 shares outstanding. The company is awaiting a name change approval from FINRA to RM2 International, Inc.

NUBURU has appointed Brian Knaley as Chief Financial Officer, bringing over 25 years of experience, including roles at CEA Industries (Nasdaq: CEAD), ViewRay (Nasdaq: VRAY), and ARC Group Worldwide (Nasdaq: ARCW). His expertise will enhance NUBURU's financial processes and support its growth strategy in blue laser technology. Mr. Knaley previously raised $3 million in a PIPE financing for CEA Industries and has a proven track record of optimizing financial functions.

ARC Group Worldwide, Inc. (ARCW) has completed the sale of its legacy assets and closed its business combination with RM2 International S.A. on February 1, 2022. RM2, known for its innovative BLOCKPal pallets, utilizes IoT technology to enhance logistics efficiency and traceability. This merger positions ARCW for growth, as RM2's shareholders have exchanged shares for newly issued ARC shares. The company plans to change its name to RM2 International, Inc., effective around February 15, 2022, leveraging new capital to expand its pallet services.

ARC Group Worldwide has announced a pivotal decision to sell its existing operating businesses and assets, termed the Legacy Business Sale, in order to acquire RM2 International S.A., known for its innovative composite pallets integrated with IoT technology. The acquisition aims to leverage RM2's smart pallets to address the growing demand for hygienic logistics solutions. ARC anticipates net proceeds of approximately $30 million from the sale, while RM2 will receive an additional $20 million investment from external stakeholders, indicating strong investor interest.

ARC Group Worldwide reported strong results for its fiscal first quarter ending September 26, 2021, with net sales reaching $15.2 million, a 32.7% increase year-over-year. Gross profit also rose to $3.3 million, up 56.9%. The company achieved an operating income of $1.6 million, a remarkable 259.3% increase. EBITDA stood at $2.9 million, a 57.1% rise. However, there were challenges in the defense sector, notably a slowdown in plastic injection molding. Management remains optimistic about the recovery in the medical segment.

ARC Group Worldwide reported fiscal year 2021 results with net sales reaching $62.2 million, up 28.1% year-over-year. Gross profit increased to $14.1 million, a 106.8% rise, leading to a gross margin of 22.6%. Operating expenses decreased by 13.6% to $7.3 million, while income from continuing operations surged to $6.8 million from a loss of $1.6 million a year ago. EBITDA also saw a considerable increase, climbing 176% to $12.3 million. The company noted a strong performance in the defense and firearms sector despite challenges in the automotive and aerospace industries.

ARC Group Worldwide excelled at the annual POWDERMET2021 Conference held in Orlando from June 20-23, winning 5 awards, the most by any participating company. Notable accolades included the Grand Prize for Enclosed Striker in the Aerospace category and another Grand Prize for Quick Disconnect Assembly in Hand Tools. The company aims to showcase advancements in metal injection molding and other manufacturing technologies, highlighting its commitment to innovation in the industry.