Worthington Steel, Inc. - WS STOCK NEWS

Next.e.GO Mobile SE, a key player in urban electric vehicle production, will exhibit at the Hannover Messe trade fair from April 17-21, 2023, in collaboration with Microsoft at Hall 17 Booth G06. The event, focused on Industrial Transformation, will showcase e.GO's innovative MicroFactory technology aimed at decentralizing and optimizing automotive production. Demonstrations will highlight the integration of artificial intelligence and technologies like HoloLens to enhance production processes. Chairman Ali Vezvaei expressed enthusiasm about contributing to sustainable manufacturing. e.GO is also involved in a business combination agreement with Athena Consumer Acquisition Corp (ACAQ,WS,ACAQU) for a public listing, expected in Q2 2023.

Ambac Financial Group, Inc. (NYSE: AMBC) announced that the outstanding AFG warrants will expire on April 30, 2023. As this date is not a trading day, holders must exercise their warrants by 5 p.m. EDT on April 28, 2023. The NYSE will suspend trading in these warrants after April 25, 2023. Approximately 4.9 million warrants remain outstanding with an exercise price of $16.67 per share.

Holders wishing to exercise their warrants should contact their brokers or custodians for instructions, while brokers are encouraged to reach Computershare Inc. for procedure confirmation prior to the cutoff time.

On April 3, 2023, Kaleyra, Inc. (NYSE: KLR) received a notice from the NYSE indicating it no longer meets continued listing requirements due to an average market capitalization below $50 million and stockholders' equity of $42.2 million as of December 31, 2022. The average market capitalization was approximately $31.5 million over the last 30 trading days. Kaleyra has 45 days to submit a plan to regain compliance, which the NYSE will review. Despite this notice, the company's stock will remain listed and traded on the NYSE during the cure period, carrying the designation of '.BC' for non-compliance. Importantly, the NYSE confirmed that Kaleyra has regained compliance with the average closing price requirement, as its stock price exceeded the $1.00 minimum threshold as of March 31, 2023.

Kaleyra, Inc. (NYSE: KLR, NYSE American: KLR WS) has launched Kaleyra Video, an audio-video calling solution leveraging WebRTC technology, in the United States as of April 4, 2023. This expansion taps into a market that accounts for over 40% of global WebRTC usage, coinciding with a growing demand for real-time communication among American consumers. Currently, 38% of Americans utilize telehealth services, prompting Kaleyra to finalize HIPAA compliance. The video solution offers seamless integration, branding customization, and collaborative features. Kaleyra aims to enhance its omnichannel offerings and better serve U.S. clients amid rising telehealth usage.

KORE Group Holdings (NYSE: KORE, KORE WS) announced details regarding its delayed filing of the Annual Report on Form 10-K for fiscal year 2022. The Company filed a Form 12b-25 to notify of its inability to file by the deadline of March 16, 2023, and expects to do so no later than April 7, 2023. Management discovered misstatements relating to income tax liabilities affecting prior periods, which will necessitate a revision of past financial statements in the upcoming 10-K. However, KORE confirmed that revenue and adjusted EBITDA remain unchanged for 2022, as reported in a preceding press release. The filing delay is not due to disagreements with auditors.

Local Bounti Corporation (NYSE: LOCL) has announced securing up to $145 million in financing through an amended credit facility with Cargill and a sale-leaseback transaction. The financing includes an increase in the credit facility from $170 million to up to $280 million, which will fund construction in Georgia, Texas, and Washington. Additionally, a $35 million sale-leaseback of facilities in California is planned. CFO Kathleen Valiasek expressed optimism about meeting growing demand for sustainable produce with their Stack & Flow Technology™. The financing supports Local Bounti's growth strategy, aiming to improve agricultural yields.

Local Bounti Corporation (NYSE: LOCL, WS) announced it has secured up to $145 million in new financing to support its growth initiatives. This financing includes a $110 million credit facility expansion with Cargill and a $35 million sale-leaseback agreement for two California facilities. As part of its 2023 outlook, Local Bounti provides guidance of $34 to $40 million in sales, reflecting anticipated production from its Montana, California, and Georgia facilities. The company's net loss for 2022 was $111.1 million with $19.5 million in sales, showing significant growth compared to the previous year's $0.6 million.

Sky Harbour Group Corporation (AMEX: SKYH) released its 2022 Financial Results, highlighting a significant 41% increase in Q4 revenues compared to Q3 2022. The company reported a decrease in General & Administrative expenses from $3.6 million to $2.6 million in the same period. As of December 31, 2022, liquidity remains robust with over $180 million in cash and US Treasury investments. Notable developments include the opening of new campuses in Nashville and Miami, enhancing operational capabilities. The company is focused on addressing potential funding gaps and improving debt service coverage through strategic modifications.

KORE Group Holdings reported preliminary financial and operational results for Q4 and the full year ending December 31, 2022. Q4 revenue was $62.4 million, down 3.1% year-over-year, while full-year revenue reached $268.4 million, an 8.1% increase. Notably, KORE announced the acquisition of Twilio's IoT business for ten million shares, enhancing its service capabilities. The company expects 2023 revenue between $300 to $310 million, reflecting a growth outlook. Adjusted EBITDA for 2022 increased by 3.1% to $62.8 million, despite a significant net loss of $105.4 million due to a goodwill impairment charge. The total connections rose to 15 million, marking a 2.7% year-over-year increase.