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EVERETT, Wash., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (NASDAQ: CCB) (“Coastal” or the “Company”), the holding company for Coastal Community Bank (the “Bank”), today announced the launch of a proposed underwritten public offering of shares of its common stock, no par value. Coastal expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of its Common Stock sold in this offering at the public offering price, less underwriting discounts and commissions. The Company intends to use the net proceeds from this offering for general corporate purposes, including, without limitation, supporting investment opportunities and the Bank’s growth. Keefe, Bruyette & Woods, a Stifel company , is serving as the lead bookrunning manager, Hovde Group, LLC is serving as a joint bookrunning manager and Raymond James & Associates, Inc. and Stephens Inc. are serving as co-managers for the proposed offering. The shares of common stock will be issued pursuant to an effective shelf registration statement on Form S-3 (File No. 333-279879) filed by Coastal with the U.S. Securities and Exchange Commission (the “SEC”), which was declared effective by the SEC on June 13, 2024. A preliminary prospectus supplement related to the offering has been filed with the SEC and a final prospectus supplement relating to this offering will be filed with the SEC. Prospective investors should read the preliminary prospectus supplement, the final prospectus supplement, when available, and other documents Coastal has filed with the SEC for more complete information about Coastal and the offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov . Copies of the preliminary prospectus supplement, the final prospectus supplement, when available, and the accompanying prospectus relating to this offering may be obtained by contacting Keefe, Bruyette & Woods, Inc., 787 Seventh Avenue, Fourth Floor, New York, NY 10019, attention: Equity Capital Markets, or by calling toll free at (800) 966-1559 or emailing USCapitalMarkets@kbw.com. This press release is for informational purposes only and shall not constitute an offer to sell, or the solicitation of an offer to buy, the securities, nor shall there be any offer, solicitation, or sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About Coastal Financial Corporation Coastal Financial Corporation (Nasdaq: CCB) (the “Company”), is an Everett, Washington based bank holding company whose wholly owned subsidiaries are Coastal Community Bank (“Bank”) and Arlington Olympic LLC. The $4.07 billion Bank provides service through 14 branches in Snohomish, Island, and King Counties, the Internet and its mobile banking application. The Bank provides banking as a service to broker-dealers, digital financial service providers, companies and brands that want to provide financial services to their customers through the Bank's CCBX segment. Member FDIC. 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 reflect our current views with respect to, among other things, future events and our financial performance and statements regarding the proposed offering. Any statements about our management’s expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. Words or phrases such as “anticipate,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or phrases are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Any or all of the forward-looking statements in this press release may turn out to be inaccurate. The inclusion of or reference to forward-looking information in this press release should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. We have based these forward- looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Our actual results could differ materially from those anticipated in such forward-looking statements as a result of risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, the risks and uncertainties discussed under “Risk Factors” in our Annual Report on Form 10-K for the most recent period filed, our Quarterly Report on Form 10-Q for the most recent quarter, and in any of our other filings with the SEC. If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. You are cautioned not to place undue reliance on forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made and we undertake no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as required by law. Contact: Joel Edwards CFO 425.357.6987 Jedwards@coastalbank.comThe list of President-elect Donald Trump's legal cases is shrinking — or being delayed. On Monday, Special Counsel Jack Smith filed a motion to dismiss the Washington, D.C. election subversion case. He also asked a federal appeals court to stop reviewing the classified documents case in Florida. On Tuesday, that court granted dismissal of the case against Trump — though not against other appellees. In dismissing the cases, the Special Counsel cited the Department of Justice's long-standing policy of not prosecuting sitting presidents. "After careful consideration, the Department has determined that OLC's prior opinions concerning the Constitution's prohibition on federal indictment and prosecution of a sitting President apply to this situation and that as a result this prosecution must be dismissed before the defendant is inaugurated," Smith wrote in his court filing regarding the election subversion case. "We've used the word unprecedented a lot over the course of the last four years, and yet again this is something that is unprecedented, and Smith himself said this in his motion," former state and federal prosecutor David S. Weinstein told Scripps News. "He took great detail to point out that this was not based on the strength or weakness of the case." In a post on Truth Social , Trump said in part "These cases, like all of the other cases I have been forced to go through, are empty and lawless." RELATED STORY | Special counsel evaluating how to wind down federal cases against Trump Earlier this year, Trump faced four on-going criminal cases. He was convicted in his New York hush money case in May, but sentencing — which was scheduled for this week — has been delayed . After Smith's actions Monday, Trump now faces only the Georgia election interference case. In Georgia, Trump was indicted along with 18 allies, accused of trying to overturn the 2020 election results in the state. But that case is now on hold after the state appeals court unexpectedly removed a December hearing from its calendar. That court will issue a new order on how this case will move forward, but with less than two months before the inauguration, the future of the Georgia and New York hush money cases are still being decided. "The two state cases are likely to recede into the background — at best," former Department of Justice attorney and current partner at Gelber, Schachter & Greenberg, Barbara Llanes, told Scripps News. "We probably won't hear much about these cases following the inauguration of President-elect Trump." Defense attorneys for Trump believe his election victory is enough for the hush money case to be dismissed. They need to file a motion by Dec. 2 making that argument. Then prosecutors have until Dec. 9 to file a rebuttal. They still believe Trump should be sentenced — even if it's after he leaves office. Judge Juan Merchan will then make a decision on how this case should move forward. There's no set date on exactly when he will make that decision.
NoneLAKE FOREST, Ill. (AP) — Thomas Brown insists he's focused on the job at hand and not the one he might have down the line. His immediate task as the interim coach of the Chicago Bears is helping the team finish strong over the final five games, starting this weekend at San Francisco. The rest of his life can wait. “I think about just the moment. ... I obviously understand the role that I'm in, understand what might come with it," he said Wednesday. "But I also understand that we make most situations bigger than what it has to be because of the outside noise, what everybody else puts a value on it.” The Bears are in a moment unlike any other in the history of the founding NFL franchise. They fired a head coach for the first time during a season when they let Matt Eberflus go on Friday with a 4-8 record and the team in a six-game losing streak marked by head-scratching decisions. They promoted Brown, who in a span of three weeks went from passing game coordinator to offensive coordinator and now the person in charge. The tipping point was a 23-20 loss at Detroit on Thanksgiving, when the Bears let the clock run down rather than call a timeout following a sack. It led to Caleb Williams throwing an incomplete pass from the Lions 41 as time expired when Chicago should have been able to run more than one play. Star cornerback Jaylon Johnson interrupted Eberflus' postgame speech and made his feelings clear. Other players had gone public in recent weeks with their frustrations over the coaching decisions, and they didn't exactly hide their emotions following the Detroit game. On Wednesday, defensive end DeMarcus Walker said he sensed a change was coming after the loss to the Lions. “You guys just look at the whole turnaround, how everything had been going, we just knew some changes were going to be made,” he said. The 38-year-old Brown now has a huge opportunity. He spent last season as Carolina's offensive coordinator and the previous three on Sean McVay's staff with the Los Angeles Rams — the final two as assistant head coach. Prior to that, he spent nine years as a college assistant, including stops at Wisconsin, Georgia, Miami and South Carolina. It's his job to help right a team that came into the season thinking a playoff spot was in reach. Williams' development obviously will be front and center. To that end, the No. 1 overall draft pick has looked more comfortable in the three games since Brown took over for the fired Shane Waldron as offensive coordinator, completing 75 of 117 passes for 827 yards with five touchdowns, no interceptions and a rating of 99.2. Though Brown will continue to call plays, the Bears have another new offensive coordinator in wide receivers coach Chris Beatty. “I think it is a stepping stone actually with my development because I think down the line I’ll have different OCs or different head coaches or whatever the case may be,” Williams said. “And so being able to handle it my first year, handle a new playbook, handle all these different changes, handle all of this I think it definitely will help the development instead of hurting it or anything like that.” Beyond the development of the prized quarterback, Brown also will be judged during his audition for the regular job on his preparation, decisions during games and command of the locker room. He said he reached out to each player individually on Friday and Saturday and tried to set a tone when the team met on Monday. “I want them to be excellent,” Brown said. “I can nitpick at every single play and tell a guy how he wasn’t perfect. And, so, perfection’s not the goal. It’s to excel at your craft.” Notes: The Bears had a lengthy injury report on Wednesday. WRs Keenan Allen (ankle) and DJ Moore (quad), RBs D'Andre Swift (quad) and Roschon Johnson (concussion), DB Elijah Hicks (ankle) and OL Ryan Bates (concussion) all missed practice. S Kevin Byard (shoulder) and OLs Darnnell Wright (knee) and Coleman Shelton (knee) were limited. ___ AP NFL coverage: https://apnews.com/hub/NFL Andrew Seligman, The Associated Press
SAN FRANCISCO , Dec. 4, 2024 /PRNewswire/ -- The Board of Directors of Prologis, Inc. PLD declared a regular cash dividend for the quarter ending December 31, 2024 , on the following securities: A dividend of $0.96 per share of the company's common stock, payable on December 31, 2024 , to common stockholders of record at the close of business on December 16, 2024 ; and A dividend of $1.0675 per share of the company's 8.54% Series Q Cumulative Redeemable Preferred Stock, payable on December 31, 2024 , to Series Q stockholders of record at the close of business on December 16, 2024 . ABOUT PROLOGIS Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At September 30, 2024 , the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (116 million square meters) in 20 countries. Prologis leases modern logistics facilities to a diverse base of approximately 6,700 customers principally across two major categories: business-to-business and retail/online fulfillment. FORWARD-LOOKING STATEMENTS The statements in this document that are not historical facts are 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. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) risks related to global pandemics; and (xi) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law. View original content to download multimedia: https://www.prnewswire.com/news-releases/prologis-declares-quarterly-dividend-302323230.html SOURCE Prologis, Inc. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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