sg777 github NexOptic Technology Corp. ( CVE:NXO – Get Free Report )’s share price reached a new 52-week low during trading on Friday . The company traded as low as C$0.02 and last traded at C$0.02, with a volume of 436200 shares. The stock had previously closed at C$0.03. NexOptic Technology Stock Performance The stock has a 50 day simple moving average of C$0.03 and a 200 day simple moving average of C$0.02. The stock has a market cap of C$3.90 million, a P/E ratio of -1.00 and a beta of 1.14. The company has a current ratio of 0.07, a quick ratio of 0.01 and a debt-to-equity ratio of 56.33. About NexOptic Technology ( Get Free Report ) NexOptic Technology Corp., a technology company, develops artificial intelligence and imaging products. It engages in developing All Light Intelligent Imaging Solutions (ALIIS), a suite of intelligent imaging solution that processes raw images and video in real time; and NexCompress technological solutions. See Also Receive News & Ratings for NexOptic Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NexOptic Technology and related companies with MarketBeat.com's FREE daily email newsletter .Aadi Enters into Exclusive License for Three-Asset ADC Portfolio Developed through a Collaboration between WuXi Biologics and HANGZHOU DAC Aadi Enters Agreement to Sell FYARRO ® and Associated Infrastructure to KAKEN Pharmaceutical for $100M ; Announces PIPE Financing of $100M Cumulative Capital Expected to Fund Operations into Late 2028, Including Anticipated Clinical Data for the ADC Portfolio Co-Founder and Former CEO of ProfoundBio, Baiteng Zhao, Appointed to Aadi Board of Directors Aadi to Hold Webcast and Conference Call on December 20 at 8:00 AM EST LOS ANGELES , Dec. 19, 2024 /PRNewswire/ -- Aadi Bioscience, Inc. (NASDAQ: AADI) today announced it has entered into an exclusive license agreement for development and global commercialization of a three-asset portfolio of preclinical, next-wave antibody-drug conjugates (ADCs), in collaboration with WuXi Biologics (2269.HK), a leading global Contract Research, Development and Manufacturing Organization (CRDMO), and HANGZHOU DAC BIOTECHNOLOGY CO., LTD. ( HANGZHOU DAC), a global leader in ADC innovation. Per the terms of the license agreement, Aadi is granted exclusive rights to certain patents and know-how pertaining to three preclinical ADC programs leveraging HANGZHOU DAC's CPT113 linker payload technology targeting each of Protein Tyrosine Kinase 7 (PTK7), Mucin-16 (MUC16) and Seizure Related 6 Homolog (SEZ6). Aadi will pay aggregate upfront payments of $44 million for in-licensing such ADC programs. Additionally, Aadi is obligated to pay cumulative development milestone payments of up to $265 million , cumulative commercial milestone payments of up to $540 million and single-digit royalties of sales. To support this transaction, Aadi entered into a subscription agreement with certain qualified institutional buyers and accredited investors for a private investment in public equity ("PIPE") financing that is expected to result in gross proceeds of approximately $100 million , before deducting placement agent fees and other offering expenses. The Company is selling an aggregate of 21,592,000 shares of its common stock ("Common Stock") at a price of $2.40 per share, representing a premium of approximately 3.4% to the closing price on December 19, 2024 on Nasdaq, and pre-funded warrants ("Pre-Funded Warrants") to purchase up to an aggregate of 20,076,500 shares of Common Stock at a purchase price of $2.3999 per Pre-Funded Warrant share. The syndicate was led by Ally Bridge Group, with participation from new investors OrbiMed, Invus, Kalehua Capital and other accredited investors, Tae Han co-founder of ProfoundBio, as well as existing investors, including Avoro Capital, KVP Capital and Acuta Capital Partners. The PIPE financing is expected to close in the first half of 2025, subject to stockholder vote and satisfaction of customary closing conditions. "I'm thrilled to announce our partnership with WuXi Biologics and HANGZHOU DAC to bring forward this thoughtfully selected ADC portfolio. We were deliberate in identifying broadly expressed tumor targets where first-generation ADCs have already shown proof of concept. With our next wave ADC portfolio, we aim to build upon these earlier therapies to deliver improved outcomes for people living with cancer," said David Lennon , PhD, President and CEO of Aadi Bioscience. "The financing underscores the confidence our investors have in both the potential of this portfolio and the strength of Aadi's management team." About the ADC Portfolio Each of the three ADC assets utilizes HANGZHOU DAC's CPT113 ADC platform, which consists of a highly stable yet cleavable linker that delivers a Topoisomerase I (TOPO1) inhibitor payload. The CPT113 platform's linker stability and novel payload has the potential to be highly competitive among the next generation ADC platforms. To effectively leverage the CPT113 platform, Aadi selected tumor targets that are upregulated in high-potential cancer indications and where clinical efficacy has been demonstrated by first-generation ADCs. These assets were discovered through the collaborative efforts of WuXi Biologics and HANGZHOU DAC, utilizing the innovative antibody discovery platform provided by WuXi Biologics and advanced linker-payload technology provided by HANGZHOU DAC. "Leveraging our advanced antibody discovery service, we're glad to enable Aadi to accelerate the discovery of precision therapies targeting some of the most challenging cancers," said Dr. Chris Chen , CEO of WuXi Biologics. "This collaboration underscores our wide recognition as an industry leader in discovery service solutions, and further validates our ability to provide integrated discovery technology platforms for global partners to develop next-generation modalities. We look forward to partnering with Aadi and HANGZHOU DAC to expeditiously move these assets forward into clinical development and benefit patients worldwide." " HANGZHOU DAC's CPT-ADC platform is designed to enable next wave ADC capabilities that surpass first-generation technologies, including two programs already in clinical development in China ," said Dr. Robert Y. Zhao , President and CEO of HANGZHOU DAC Biotechnology. "As a global leader in ADC innovation, we are excited to partner with Aadi and WuXi Biologics to deliver this promising portfolio to patients." Aadi to Sell FYARRO for $100 Million , Cumulative Capital Expected to Fund Operations into Late 2028 In a separate agreement, KAKEN Pharmaceutical Co., Ltd., an R&D driven pharmaceutical company in Japan , has entered into a stock purchase agreement under which KAKEN will acquire Aadi Subsidiary, Inc. and all of its assets, including FYARRO ® (sirolimus protein-bound particles for injectable suspension) (albumin-bound) and associated infrastructure, including the majority of Aadi employees who support the FYARRO ® business. FYARRO is approved by the U.S. Food and Drug Administration (FDA) for the treatment of adult patients with locally advanced unresectable or metastatic malignant perivascular epithelioid cell tumor (PEComa), with cumulative revenue of $25.2 million reported over the prior four quarters ended September 30, 2024 . Per the terms of the agreement, Kaken will pay Aadi $100 million in cash at closing, subject to certain adjustments. The transaction is expected to close in the first half of 2025, subject to Aadi stockholder approval and certain closing conditions. Upon the closing of this transaction, KAKEN will also acquire the rights to the Aadi name and trademark. "We are enormously proud of the impact FYARRO has had for people with PEComa, and Kaken's capabilities, coupled with the proven track record of the Aadi team, ensures physicians and patients will continue to have access to this critical treatment," said Lennon. The net proceeds from the PIPE financing and the sale of FYARRO, together with the Company's existing cash, cash equivalents and marketable securities are expected to fund operations into late-2028, including anticipated clinical data readouts for the ADC portfolio. Baiteng Zhao Appointed to the Board of Directors, Brings Significant ADC Expertise Baiteng Zhao, PhD, joins Aadi's board of directors. Zhao co-founded ProfoundBio, a clinical stage next-gen ADC developer, in 2018 and served as the Chairman and CEO of the company until it was acquired by Genmab for $1.8 billion in May 2024 . Prior to ProfoundBio, Dr. Zhao worked at Seagen (now part of Pfizer) for more than eight years and was responsible for the modeling and simulation strategies for the development pipeline and supported preclinical and clinical development of ADC drug candidates. "We are delighted to welcome Baiteng to our Board. His deep expertise and successful track record in ADC development will be instrumental as we tenaciously move this exciting portfolio forward," said Caley Castelein , MD, Chair of the Board of Directors of Aadi Bioscience. "I am thrilled to join the Board at this pivotal moment for Aadi," said Baiteng Zhao, PhD, Board of Directors of Aadi Bioscience and co-founder of ProfoundBio. "PTK7, MUC16 and SEZ6 represent highly promising targets that are commonly overexpressed in cancers with significant unmet therapeutic needs. Coupled with an advanced linker-payload platform that has the potential to enable next-gen ADCs, I believe Aadi is uniquely positioned to make a meaningful impact on patient outcomes. I look forward to collaborating with the leadership team and fellow Board directors to advance these innovative programs and drive transformative progress for patients." Advisors Leerink Partners is serving as financial advisor to Aadi on the sale of FYARRO and the licensing of the ADC portfolio. Jefferies LLC is acting as exclusive placement agent for the PIPE financing. Wilson Sonsini Goodrich & Rosati, P.C. is serving as legal counsel to Aadi. McDermott Will & Emery LLP is serving as legal counsel to Kaken. Cooley LLP is serving as legal counsel to Jefferies LLC. Nomura Securities Co., Ltd. is serving as financial advisor to KAKEN. Conference Call Information The Aadi management team is hosting a conference call and webcast tomorrow, Friday, December 20 th at 8:00 AM EST ( 5:00 AM PST ) to discuss these updates. Participants may access a live webcast of the call and the associated slide presentation on these data through the "Investors & News" page of the Aadi Bioscience website at aadibio.com . To participate via telephone, please register in advance at this link . Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call. A replay of the conference call and webcast will be archived on the Company's website for at least 30 days. Additional Information for Stockholders This communication relates to the proposed sale of FYARRO and the proposed PIPE financing and may be deemed to be solicitation material in respect of such transactions. In connection with these proposed transactions, Aadi will file a Proxy Statement with the SEC. This communication is not a substitute for the Proxy Statement or any other documents that Aadi may file with the SEC or send to Aadi stockholders in connection with the proposed transactions. Before making any voting decision, investors and securityholders are urged to read the Proxy Statement and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transactions as they become available because they will contain important information about the proposed transactions and related matters. Stockholders may obtain a copy of the Proxy Statement and other documents the Company files with the SEC (when they are available) through the website maintained by the SEC at www.sec.gov , as well as on the Investor and News section of Aadi's website at www.aadibio.com . Certain stockholders of Aadi holding approximately 36% of Aadi's outstanding shares, as of the date hereof, including members of its board of directors and related entities, have entered into voting and support agreements in favor of KAKEN Pharmaceutical and Aadi, pursuant to which such stockholders have agreed to vote in favor of the stock purchase transaction with KAKEN Pharmaceutical and the other transactions described above. Participants in the Solicitation Aadi and its respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Aadi in connection with the proposed transactions. Information about Aadi's directors and executive officers is set forth in Aadi's definitive proxy statement filed with the SEC on April 26, 2024 , and in subsequent filings made by Aadi with the SEC. Other information regarding the interests of such individuals, as well as information regarding Aadi's directors and executive officers and other persons who may be deemed participants in the proposed transactions, will be set forth in the Proxy Statement and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of these documents as described in the preceding paragraph. No Offer or Solicitation This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities nor a solicitation of any vote or approval with respect to the proposed transactions or otherwise, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. The offer and sale of securities of Aadi described above are being made in a transaction not involving a public offering and the securities have not been registered under the Securities Act of 1933, as amended, and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Concurrently with the execution of the subscription agreement, the Company and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file, following the closing of the PIPE financing, a registration statement with the SEC registering the resale of the shares of Common Stock and the shares of Common Stock underlying the Pre-Funded Warrants sold in the PIPE financing. About Aadi Bioscience Aadi is a precision oncology company with a vision to make bold choices in applying technology to efficiently deliver improved precision oncology therapies for people living with difficult-to-treat cancers. More information on the Company is available on the Aadi website at www.aadibio.com and connect with us on LinkedIn. Forward-Looking Statements This press release contains certain forward-looking statements regarding the business of Aadi Bioscience that are not a description of historical facts within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the Company's current beliefs and expectations and may include, but are not limited to, statements relating to: the timing and completion of the proposed sale of FYARRO to Kaken Pharmaceuticals and the anticipated timing of the closing of the transaction; expectations regarding the timing, closing and completion of the PIPE financing; Aadi's expected cash position at the closing and cash runway of the company following the sale of FYARRO and PIPE financing; the future operations of Aadi; the development and potential benefits of any of Aadi's product candidates, including the preclinical ADC assets proposed to be licensed from WuXi; anticipated preclinical and clinical development activities and related timelines, including the expected timing for announcement of data and other preclinical and clinical results and potential submission of IND filings for one or more product candidates; and other statements that are not historical fact. Actual results could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks associated with (i) the risk that the conditions to the closing of the proposed sale of FYARRO or the PIPE financing are not satisfied, including the failure to timely obtain stockholder approval for the transactions, if at all; (ii) uncertainties as to the timing of the consummation of the proposed transactions and the ability of each of Kaken and Aadi to consummate the proposed sale of FYARRO; (iii) risks related to Aadi's ability to manage its operating expenses and its expenses associated with the proposed transactions pending the closing; (iv) risks related to the failure or delay in obtaining required approvals from any governmental or quasi-governmental entity necessary to consummate the proposed transactions; (v) unexpected costs, charges or expenses resulting from the transactions; (vii) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed sale of FYARRO or the proposed PIPE financing; (vii) the uncertainties associated with Aadi's product candidates, as well as risks associated with the preclinical and clinical development and regulatory approval of product candidates, including potential delays in the completion of preclinical studies and clinical trials; (viii) risks related to the inability of Aadi to obtain sufficient additional capital to continue to advance these product candidates; (ix) uncertainties in obtaining successful preclinical and clinical results for product candidates and unexpected costs that may result therefrom; (x) risks related to the failure to realize any value from product candidates being developed and anticipated to be developed in light of inherent risks and difficulties involved in successfully bringing product candidates to market; and (xi) risks associated with the possible failure to realize certain anticipated benefits of the proposed sale of FYARRO or the proposed PIPE financing, including with respect to future financial and operating results. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 , including under the caption "Item 1A. Risk Factors," and in Aadi's subsequent Quarterly Reports on Form 10-Q, and elsewhere in Aadi's reports and other documents that Aadi has filed, or will file, with the SEC from time to time and available at www.sec.gov . All forward-looking statements in this press release are current only as of the date hereof and, except as required by applicable law, Aadi undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement. This cautionary statement is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Contact: IR@aadibio.com View original content to download multimedia: https://www.prnewswire.com/news-releases/aadi-bioscience-transforms-with-in-licensing-of-novel-adc-portfolio-100-million-sale-of-fyarro-and-100-million-pipe-financing-302336743.html SOURCE Aadi Bioscience

ZOOM Video Communications gave a sales forecast for the current quarter that failed to impress investors who were expecting a bigger boost from the company’s expanded suite of products. Revenue will be about US$1.18 billion in the period ending in January, Zoom said on Monday (Nov 25). Profit, excluding some items, will be US$1.29 to US$1.30 a share. Analysts, on average, projected adjusted earnings of US$1.28 a share on sales of US$1.17 billion, according to data compiled by Bloomberg. The shares, which initially declined about 9 per cent in extended trading, had recovered and were little changed at 5 pm in New York. While Zoom’s outlook met estimates, the stock had gained about 48 per cent to close at US$89.03 since the company’s last earnings report in August on optimism about the new products. The software maker known for videoconferencing has expanded its suite of tools to offer phone systems, a contact centre application and artificial intelligence (AI) assistants. In October, Zoom named former Microsoft executive Michelle Chang as chief financial officer to replace Kelly Steckelberg, who left to join design startup Canva. Zoom has seen a 59 per cent increase in monthly active users of its AI assistant since the prior quarter, the company said in a presentation to supplement its earnings statement. It also topped 1,250 customers of its contact centre application. Separately, the company announced it has dropped “video” from its official name and would now be known as Zoom Communications. “Our new name more accurately reflects our expanding scope and plans for long-term growth,” chief executive officer Eric Yuan wrote in a post announcing the change. In the fiscal third quarter, sales increased 3.6 per cent to US$1.18 billion, compared with analysts’ average estimate of US$1.16 billion, according to data compiled by Bloomberg. Profit, excluding some items, was US$1.38 a share in the period ended Oct 31. Enterprise revenue increased 5.8 per cent to US$699 million. Zoom said it had 3,995 customers who contributed more than US$100,000 over the past year. An ongoing loss of consumers and small businesses from Zoom has concerned investors, particularly since these customers are typically higher-margin than corporate clients. Average monthly churn in this segment was 2.7 per cent in the quarter, which was better than analysts’ estimates. Sales in the segment was little changed at US$479 million. That was Zoom’s lowest-ever online churn, Chang said, according to remarks prepared for the company’s earnings conference call. Zoom said it’s adding US$1.2 billion to its existing share buyback programme, raising the total repurchase authorisation to US$2 billion. BLOOMBERG

Macau is regarded by China as a shining example of its "One Country, Two Systems" model, and Xi praised the city as a "pearl in the nation's palm" at the start of his three-day visit. The Chinese casino hub has grown from a Portuguese trading outpost to the world's casino capital by gaming revenue and a popular destination for Chinese tourists. When Macau reverted to Chinese rule on December 20, 1999, Beijing promised that the city's "capitalist system and way of life shall remain unchanged for 50 years". Arriving in the city on Wednesday, Xi lauded Macau's "world-recognised success" in implementing the "One Country, Two Systems" framework and said the city had a bright future. "Macau is a pearl in the nation's palm, and I have always kept in my thoughts its development and the welfare of all its people," Xi said. The Chinese president added that he would use his trip for "extensive and in-depth exchanges with our friends from all places, and discuss plans for Macau's development". Friday's festivities will be centred around the inauguration of Sam Hou-fai, the former president of Macau's apex court, as the city's fourth post-handover leader, replacing Ho Iat-seng. Security was tight around the city on Thursday, with roadblocks set up around an event venue and authorities increasing checks on inbound visitors. Following the end of 442 years of Portuguese rule, Macau's fortunes have risen in lockstep with China's economic growth. It is the only place in China where casino gambling is permitted and has long surpassed Las Vegas as the world's top casino hub, fuelled by two decades of Chinese visitor spending. Macau, which has a resident population of 687,000, saw just over 29 million visitor arrivals in the first 10 months of the year. Its GDP has soared from $6.4 billion in 1999 to more than $47 billion last year, and its population is the richest in China on a per capita basis. Under orders from Beijing to diversify the economy, Macau leaders have proposed fields such as financial services, technology and Chinese medicine as new economic drivers. But as of November, gaming-related taxes still made up 81 percent of government revenue and experts say Macau is years away from weaning itself off casino wealth. Xi on Thursday visited the Macau University of Science and Technology and was "briefed on the development of two state-level key laboratories" that involved Chinese medicine and planetary science, according to state news agency Xinhua. He also visited the Guangdong-Macao In-Depth Cooperation Zone on Hengqin Island, speaking to residents and people there in charge of planning, construction, management and services, Xinhua reported. Hengqin Island, a landmass adjacent to Macau and three times its size, was partly leased by Beijing to Macau to boost its land supply for non-gaming development. hol/oho/scoJulen Lopetegui says West Ham were worthy winners at Newcastle

Nick Kern came off the bench for 20 points and 13 rebounds as Penn State remained unbeaten with an 85-66 thumping of Fordham in a semifinal of the Sunshine Slam on Monday in Daytona Beach, Fla. The Nittany Lions (6-0), who will play either San Francisco or Clemson for the tournament title on Tuesday, put four other players in double figures. Zach Hicks scored 16 points, while Puff Johnson added 15. Ace Baldwin and Yanic Konan Niederhauser each chipped in 12 points. Penn State sank nearly 53 percent of its field goal attempts and earned a 38-30 advantage on the boards, more than enough to offset missing 12 of its 32 foul shots. Four players reached double figures for the Rams (3-4), led by 15 points apiece from Jackie Johnson III and reserve Joshua Rivera. Romad Dean and Jahmere Tripp each added 13. Fordham was as close as 56-49 after Tripp made a layup with 14:25 left in the game. But the Nittany Lions responded with a 16-1 run, capped with a layup by Kern for a 22-point lead at the 9:33 mark, and they never looked back. The main storyline prior to tipoff was whether Penn State could continue its torrid early start that saw it come into the day leading Division I in steals and ranked second in scoring at 98.2 points per game. The Nittany Lions certainly played to their billing for most of the first half, establishing a 21-8 lead at the 10:08 mark via Hicks' three-point play. Fordham predictably struggled early with the pressure defense, committing four turnovers in the first four minutes. But the Rams got their bearings over the last 10 minutes and made some shots. They got as close as four on two occasions late in the half before Penn State pushed the lead to 42-34 at the half. The officials were busy in the half, calling 23 fouls and administering 27 free throws. --Field Level MediaManmohan Singh , the former Prime Minister whose lasting legacy would be seen by many as the economic liberalisation of 1991, will perhaps be remembered as much for his perseverance in bringing about the nuclear deal with the US. The deal came through in 2008 -- with Manmohan Singh steering it through 39 months amid initial disapproval from some in the Congress, including Sonia Gandhi, and later the strong Opposition from the Left Front, which pulled support from the government. Two years later, speaking on the sidelines of a G20 summit in Toronto (Canada), then US President Barrack Obama praised Dr. Singh. "I can tell you that here at G20, when the Prime Minister speaks, people listen," President Obama had said. The deal he stood by ended the era of sanctions placed on India after the Pokhran 2 nuclear tests of 1998 with partial sanctions by IAEA that covered only the civil nuclear facilities. It also steered the country away from the Nehruvian policy of non-alignment, placed it front and centre of the international community and secured it a place at the nuclear club high table. The situation also brought out an unexpected political savvy that many did not expect from the former Prime Minister. When the government, and the deal, were under threat, he secured the outside support of Mulayam Singh Yadav's Samajwadi Party to save both. Manmohan Singh died in Delhi this evening. He was 92. In his condolence message, Prime Minister Narendra Modi said India mourns the loss of one of its most distinguished leaders. "India mourns the loss of one of its most distinguished leaders, Dr. Manmohan Singh Ji. Rising from humble origins, he rose to become a respected economist. He served in various government positions as well, including as Finance Minister, leaving a strong imprint on our economic policy over the years. His interventions in Parliament were also insightful. As our Prime Minister, he made extensive efforts to improve people's lives," read his post on X. Track Latest News Live on NDTV.com and get news updates from India and around the worldTelstra Group Limited ( OTCMKTS:TLGPY – Get Free Report ) was the recipient of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 26,600 shares, a decline of 46.0% from the November 30th total of 49,300 shares. Based on an average daily volume of 125,900 shares, the days-to-cover ratio is currently 0.2 days. Telstra Group Stock Down 0.7 % Shares of OTCMKTS:TLGPY opened at $12.59 on Friday. The company has a 50 day moving average price of $12.79 and a two-hundred day moving average price of $12.91. Telstra Group has a 52 week low of $11.19 and a 52 week high of $13.90. Telstra Group Company Profile ( Get Free Report ) Featured Stories Receive News & Ratings for Telstra Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telstra Group and related companies with MarketBeat.com's FREE daily email newsletter .MINNEAPOLIS (AP) — A Connecticut couple has been charged in Minnesota with being part of a shoplifting ring suspected of stealing around $1 million in goods across the country from the upscale athletic wear retailer Lululemon. Jadion Anthony Richards, 44, and Akwele Nickeisha Lawes-Richards, 45, both of Danbury, Connecticut, were charged this month with one felony count of organized retail theft. Both went free last week after posting bail bonds of $100,000 for him and $30,000 for her, court records show. They're due back in Ramsey County District Court in St. Paul on Dec. 16. According to the criminal complaints, a Lululemon investigator had been tracking the pair even before police first confronted them on Nov. 14 at a store in suburban Roseville. The investigator told police the couple were responsible for hundreds of thousands of dollars in losses across the country, the complaints said. They would steal items and make fraudulent returns, it said. Police found suitcases containing more than $50,000 worth of Lululemon clothing when they searched the couple's hotel room in Bloomington, the complaint said. According to the investigator, they were also suspected in thefts from Lululemon stores in Colorado, Utah, New York and Connecticut, the complaint said. Within Minnesota, they were also accused of thefts at stores in Minneapolis and the suburbs of Woodbury, Edina and Minnetonka. The investigator said the two were part of a group that would usually travel to a city and hit Lululemon stores there for two days, return to the East Coast to exchange the items without receipts for new items, take back the new items with the return receipts for credit card refunds, then head back out to commit more thefts, the complaint said. In at least some of the thefts, it said, Richards would enter the store first and buy one or two cheap items. He'd then return to the sales floor where, with help from Lawes-Richards, they would remove a security sensor from another item and put it on one of the items he had just purchased. Lawes-Richards and another woman would then conceal leggings under their clothing. They would then leave together. When the security sensors at the door went off, he would offer staff the bag with the items he had bought, while the women would keep walking out, fooling the staff into thinking it was his sensor that had set off the alarm, the complaint said. Richards' attorney declined comment. Lawes-Richards' public defender did not immediately return a call seeking comment Monday. “This outcome continues to underscore our ongoing collaboration with law enforcement and our investments in advanced technology, team training and investigative capabilities to combat retail crime and hold offenders accountable,” Tristen Shields, Lululemon's vice president of asset protection, said in a statement. "We remain dedicated to continuing these efforts to address and prevent this industrywide issue.” The two are being prosecuted under a state law enacted last year that seeks to crack down on organized retail theft. One of its chief authors, Sen. Ron Latz, of St. Louis Park, said 34 states already had organized retail crime laws on their books. “I am glad to see it is working as intended to bring down criminal operations," Latz said in a statement. "This type of theft harms retailers in myriad ways, including lost economic activity, job loss, and threats to worker safety when crime goes unaddressed. It also harms consumers through rising costs and compromised products being resold online.” Two Minnesota women were also charged under the new law in August. They were accused of targeting a Lululemon store in Minneapolis.

NoneQatar tribune PA Media/DPA Doha British driver Abbi Pulling has been crowned champion of the F1 Academy - the all-female racing series - after she finished second in Qatar on Saturday night. Alpine’s Pulling, 21, has taken eight victories from 11 races this season to claim the title ahead of next weekend’s concluding round in Abu Dhabi. Pulling, from Gosberton in Lincolnshire, will be rewarded with a fully-funded season in GB3 – the United Kingdom’s number one single-seater category – with the Rodin team. “It is nice to hear those words,” said Pulling when informed she had won the second edition of series which aims to discover the first female F1 driver in almost half-a-century. “It has been a tougher season than most would think. I had to win this year, I had no choice. I have struggled financially so to get the prize next year makes me so happy. “There are so many people in my corner to thank, my family, the sacrifice my dad has made, it is just a sigh of relief and a weight off my shoulders. I am going to really put in the work and make the most of the opportunity. I will not leave any stone unturned.” Copy 01/12/2024 10Wray runs past Forge Christian to win 1A football championship

Penn State kicks off Sunshine Slam by cruising past FordhamMichigan upsets No. 2 Ohio State 13-10 for Wolverines' 4th straight win over bitter rivalAadi Enters into Exclusive License for Three-Asset ADC Portfolio Developed through a Collaboration between WuXi Biologics and HANGZHOU DAC Aadi Enters Agreement to Sell FYARRO ® and Associated Infrastructure to KAKEN Pharmaceutical for $100M ; Announces PIPE Financing of $100M Cumulative Capital Expected to Fund Operations into Late 2028, Including Anticipated Clinical Data for the ADC Portfolio Co-Founder and Former CEO of ProfoundBio, Baiteng Zhao, Appointed to Aadi Board of Directors Aadi to Hold Webcast and Conference Call on December 20 at 8:00 AM EST LOS ANGELES , Dec. 19, 2024 /PRNewswire/ -- Aadi Bioscience, Inc. (NASDAQ: AADI) today announced it has entered into an exclusive license agreement for development and global commercialization of a three-asset portfolio of preclinical, next-wave antibody-drug conjugates (ADCs), in collaboration with WuXi Biologics (2269.HK), a leading global Contract Research, Development and Manufacturing Organization (CRDMO), and HANGZHOU DAC BIOTECHNOLOGY CO., LTD. ( HANGZHOU DAC), a global leader in ADC innovation. Per the terms of the license agreement, Aadi is granted exclusive rights to certain patents and know-how pertaining to three preclinical ADC programs leveraging HANGZHOU DAC's CPT113 linker payload technology targeting each of Protein Tyrosine Kinase 7 (PTK7), Mucin-16 (MUC16) and Seizure Related 6 Homolog (SEZ6). Aadi will pay aggregate upfront payments of $44 million for in-licensing such ADC programs. Additionally, Aadi is obligated to pay cumulative development milestone payments of up to $265 million , cumulative commercial milestone payments of up to $540 million and single-digit royalties of sales. To support this transaction, Aadi entered into a subscription agreement with certain qualified institutional buyers and accredited investors for a private investment in public equity ("PIPE") financing that is expected to result in gross proceeds of approximately $100 million , before deducting placement agent fees and other offering expenses. The Company is selling an aggregate of 21,592,000 shares of its common stock ("Common Stock") at a price of $2.40 per share, representing a premium of approximately 3.4% to the closing price on December 19, 2024 on Nasdaq, and pre-funded warrants ("Pre-Funded Warrants") to purchase up to an aggregate of 20,076,500 shares of Common Stock at a purchase price of $2.3999 per Pre-Funded Warrant share. The syndicate was led by Ally Bridge Group, with participation from new investors OrbiMed, Invus, Kalehua Capital and other accredited investors, Tae Han co-founder of ProfoundBio, as well as existing investors, including Avoro Capital, KVP Capital and Acuta Capital Partners. The PIPE financing is expected to close in the first half of 2025, subject to stockholder vote and satisfaction of customary closing conditions. "I'm thrilled to announce our partnership with WuXi Biologics and HANGZHOU DAC to bring forward this thoughtfully selected ADC portfolio. We were deliberate in identifying broadly expressed tumor targets where first-generation ADCs have already shown proof of concept. With our next wave ADC portfolio, we aim to build upon these earlier therapies to deliver improved outcomes for people living with cancer," said David Lennon , PhD, President and CEO of Aadi Bioscience. "The financing underscores the confidence our investors have in both the potential of this portfolio and the strength of Aadi's management team." About the ADC Portfolio Each of the three ADC assets utilizes HANGZHOU DAC's CPT113 ADC platform, which consists of a highly stable yet cleavable linker that delivers a Topoisomerase I (TOPO1) inhibitor payload. The CPT113 platform's linker stability and novel payload has the potential to be highly competitive among the next generation ADC platforms. To effectively leverage the CPT113 platform, Aadi selected tumor targets that are upregulated in high-potential cancer indications and where clinical efficacy has been demonstrated by first-generation ADCs. These assets were discovered through the collaborative efforts of WuXi Biologics and HANGZHOU DAC, utilizing the innovative antibody discovery platform provided by WuXi Biologics and advanced linker-payload technology provided by HANGZHOU DAC. "Leveraging our advanced antibody discovery service, we're glad to enable Aadi to accelerate the discovery of precision therapies targeting some of the most challenging cancers," said Dr. Chris Chen , CEO of WuXi Biologics. "This collaboration underscores our wide recognition as an industry leader in discovery service solutions, and further validates our ability to provide integrated discovery technology platforms for global partners to develop next-generation modalities. We look forward to partnering with Aadi and HANGZHOU DAC to expeditiously move these assets forward into clinical development and benefit patients worldwide." " HANGZHOU DAC's CPT-ADC platform is designed to enable next wave ADC capabilities that surpass first-generation technologies, including two programs already in clinical development in China ," said Dr. Robert Y. Zhao , President and CEO of HANGZHOU DAC Biotechnology. "As a global leader in ADC innovation, we are excited to partner with Aadi and WuXi Biologics to deliver this promising portfolio to patients." Aadi to Sell FYARRO for $100 Million , Cumulative Capital Expected to Fund Operations into Late 2028 In a separate agreement, KAKEN Pharmaceutical Co., Ltd., an R&D driven pharmaceutical company in Japan , has entered into a stock purchase agreement under which KAKEN will acquire Aadi Subsidiary, Inc. and all of its assets, including FYARRO ® (sirolimus protein-bound particles for injectable suspension) (albumin-bound) and associated infrastructure, including the majority of Aadi employees who support the FYARRO ® business. FYARRO is approved by the U.S. Food and Drug Administration (FDA) for the treatment of adult patients with locally advanced unresectable or metastatic malignant perivascular epithelioid cell tumor (PEComa), with cumulative revenue of $25.2 million reported over the prior four quarters ended September 30, 2024 . Per the terms of the agreement, Kaken will pay Aadi $100 million in cash at closing, subject to certain adjustments. The transaction is expected to close in the first half of 2025, subject to Aadi stockholder approval and certain closing conditions. Upon the closing of this transaction, KAKEN will also acquire the rights to the Aadi name and trademark. "We are enormously proud of the impact FYARRO has had for people with PEComa, and Kaken's capabilities, coupled with the proven track record of the Aadi team, ensures physicians and patients will continue to have access to this critical treatment," said Lennon. The net proceeds from the PIPE financing and the sale of FYARRO, together with the Company's existing cash, cash equivalents and marketable securities are expected to fund operations into late-2028, including anticipated clinical data readouts for the ADC portfolio. Baiteng Zhao Appointed to the Board of Directors, Brings Significant ADC Expertise Baiteng Zhao, PhD, joins Aadi's board of directors. Zhao co-founded ProfoundBio, a clinical stage next-gen ADC developer, in 2018 and served as the Chairman and CEO of the company until it was acquired by Genmab for $1.8 billion in May 2024 . Prior to ProfoundBio, Dr. Zhao worked at Seagen (now part of Pfizer) for more than eight years and was responsible for the modeling and simulation strategies for the development pipeline and supported preclinical and clinical development of ADC drug candidates. "We are delighted to welcome Baiteng to our Board. His deep expertise and successful track record in ADC development will be instrumental as we tenaciously move this exciting portfolio forward," said Caley Castelein , MD, Chair of the Board of Directors of Aadi Bioscience. "I am thrilled to join the Board at this pivotal moment for Aadi," said Baiteng Zhao, PhD, Board of Directors of Aadi Bioscience and co-founder of ProfoundBio. "PTK7, MUC16 and SEZ6 represent highly promising targets that are commonly overexpressed in cancers with significant unmet therapeutic needs. Coupled with an advanced linker-payload platform that has the potential to enable next-gen ADCs, I believe Aadi is uniquely positioned to make a meaningful impact on patient outcomes. I look forward to collaborating with the leadership team and fellow Board directors to advance these innovative programs and drive transformative progress for patients." Advisors Leerink Partners is serving as financial advisor to Aadi on the sale of FYARRO and the licensing of the ADC portfolio. Jefferies LLC is acting as exclusive placement agent for the PIPE financing. Wilson Sonsini Goodrich & Rosati, P.C. is serving as legal counsel to Aadi. McDermott Will & Emery LLP is serving as legal counsel to Kaken. Cooley LLP is serving as legal counsel to Jefferies LLC. Nomura Securities Co., Ltd. is serving as financial advisor to KAKEN. Conference Call Information The Aadi management team is hosting a conference call and webcast tomorrow, Friday, December 20 th at 8:00 AM EST ( 5:00 AM PST ) to discuss these updates. Participants may access a live webcast of the call and the associated slide presentation on these data through the "Investors & News" page of the Aadi Bioscience website at aadibio.com . To participate via telephone, please register in advance at this link . Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call. A replay of the conference call and webcast will be archived on the Company's website for at least 30 days. Additional Information for Stockholders This communication relates to the proposed sale of FYARRO and the proposed PIPE financing and may be deemed to be solicitation material in respect of such transactions. In connection with these proposed transactions, Aadi will file a Proxy Statement with the SEC. This communication is not a substitute for the Proxy Statement or any other documents that Aadi may file with the SEC or send to Aadi stockholders in connection with the proposed transactions. Before making any voting decision, investors and securityholders are urged to read the Proxy Statement and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transactions as they become available because they will contain important information about the proposed transactions and related matters. Stockholders may obtain a copy of the Proxy Statement and other documents the Company files with the SEC (when they are available) through the website maintained by the SEC at www.sec.gov , as well as on the Investor and News section of Aadi's website at www.aadibio.com . Certain stockholders of Aadi holding approximately 36% of Aadi's outstanding shares, as of the date hereof, including members of its board of directors and related entities, have entered into voting and support agreements in favor of KAKEN Pharmaceutical and Aadi, pursuant to which such stockholders have agreed to vote in favor of the stock purchase transaction with KAKEN Pharmaceutical and the other transactions described above. Participants in the Solicitation Aadi and its respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Aadi in connection with the proposed transactions. Information about Aadi's directors and executive officers is set forth in Aadi's definitive proxy statement filed with the SEC on April 26, 2024 , and in subsequent filings made by Aadi with the SEC. Other information regarding the interests of such individuals, as well as information regarding Aadi's directors and executive officers and other persons who may be deemed participants in the proposed transactions, will be set forth in the Proxy Statement and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of these documents as described in the preceding paragraph. No Offer or Solicitation This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities nor a solicitation of any vote or approval with respect to the proposed transactions or otherwise, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. The offer and sale of securities of Aadi described above are being made in a transaction not involving a public offering and the securities have not been registered under the Securities Act of 1933, as amended, and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Concurrently with the execution of the subscription agreement, the Company and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file, following the closing of the PIPE financing, a registration statement with the SEC registering the resale of the shares of Common Stock and the shares of Common Stock underlying the Pre-Funded Warrants sold in the PIPE financing. About Aadi Bioscience Aadi is a precision oncology company with a vision to make bold choices in applying technology to efficiently deliver improved precision oncology therapies for people living with difficult-to-treat cancers. More information on the Company is available on the Aadi website at www.aadibio.com and connect with us on LinkedIn. Forward-Looking Statements This press release contains certain forward-looking statements regarding the business of Aadi Bioscience that are not a description of historical facts within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the Company's current beliefs and expectations and may include, but are not limited to, statements relating to: the timing and completion of the proposed sale of FYARRO to Kaken Pharmaceuticals and the anticipated timing of the closing of the transaction; expectations regarding the timing, closing and completion of the PIPE financing; Aadi's expected cash position at the closing and cash runway of the company following the sale of FYARRO and PIPE financing; the future operations of Aadi; the development and potential benefits of any of Aadi's product candidates, including the preclinical ADC assets proposed to be licensed from WuXi; anticipated preclinical and clinical development activities and related timelines, including the expected timing for announcement of data and other preclinical and clinical results and potential submission of IND filings for one or more product candidates; and other statements that are not historical fact. Actual results could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks associated with (i) the risk that the conditions to the closing of the proposed sale of FYARRO or the PIPE financing are not satisfied, including the failure to timely obtain stockholder approval for the transactions, if at all; (ii) uncertainties as to the timing of the consummation of the proposed transactions and the ability of each of Kaken and Aadi to consummate the proposed sale of FYARRO; (iii) risks related to Aadi's ability to manage its operating expenses and its expenses associated with the proposed transactions pending the closing; (iv) risks related to the failure or delay in obtaining required approvals from any governmental or quasi-governmental entity necessary to consummate the proposed transactions; (v) unexpected costs, charges or expenses resulting from the transactions; (vii) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed sale of FYARRO or the proposed PIPE financing; (vii) the uncertainties associated with Aadi's product candidates, as well as risks associated with the preclinical and clinical development and regulatory approval of product candidates, including potential delays in the completion of preclinical studies and clinical trials; (viii) risks related to the inability of Aadi to obtain sufficient additional capital to continue to advance these product candidates; (ix) uncertainties in obtaining successful preclinical and clinical results for product candidates and unexpected costs that may result therefrom; (x) risks related to the failure to realize any value from product candidates being developed and anticipated to be developed in light of inherent risks and difficulties involved in successfully bringing product candidates to market; and (xi) risks associated with the possible failure to realize certain anticipated benefits of the proposed sale of FYARRO or the proposed PIPE financing, including with respect to future financial and operating results. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 , including under the caption "Item 1A. Risk Factors," and in Aadi's subsequent Quarterly Reports on Form 10-Q, and elsewhere in Aadi's reports and other documents that Aadi has filed, or will file, with the SEC from time to time and available at www.sec.gov . All forward-looking statements in this press release are current only as of the date hereof and, except as required by applicable law, Aadi undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement. This cautionary statement is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Contact: IR@aadibio.com View original content to download multimedia: https://www.prnewswire.com/news-releases/aadi-bioscience-transforms-with-in-licensing-of-novel-adc-portfolio-100-million-sale-of-fyarro-and-100-million-pipe-financing-302336743.html SOURCE Aadi Bioscience

Affirm's CFO Robert O'Hare sells $8.26m in stock transactionsFOXBOROUGH, Mass. (AP) — If Los Angeles Chargers coach Jim Harbaugh has given any thought to the possibility of clinching a playoff berth in his first season with the team with a win at New England on Saturday, he isn't letting it show. “Just attacking, that’s our mindset. Win the next game," he said. Harbaugh's relative silence on the topic isn't a total departure from his usual business-first approach, but there could also be something else at play. Aside from wrapping up what would be Harbaugh’s fourth postseason trip in five years as an NFL head coach, since the Chargers (9-6) have the tiebreaker over the Denver Broncos but not against the Pittsburg Steelers, Los Angeles would appear destined to be the sixth seed in the postseason. That would mean a trip to Baltimore and a possible Harbaugh Bowl 4 matchup opposite older brother and Ravens coach John Harbaugh. The Ravens beat the Chargers earlier this season 30-23. But first things first. And that's taking care of the Patriots (3-12), who have lost five straight games but showed several signs of offensive improvement during their 24-21 loss at Buffalo last week. Jim Harbaugh sees a dangerous group. And his players say they are locked in on the present. “Always one week at a time. We’ve got a lot of respect for this Patriots team," Chargers quarterback Justin Herbert said. "We know we’re going on the road and have to be prepared for everything.” Turnover prone If the Patriots are going to play the role of spoiler, it must start with rookie quarterback Drake Maye. He has thrown a touchdown pass in seven consecutive games, tied with Jim Plunkett (1971) for the longest such streak by a rookie in franchise history. But he has also thrown at least one interception in each of the past seven games. Overall, the Patriots have a minus-9 turnover margin. The Patriots did score 14 points in the first half during last week’s loss at Buffalo. Still, New England's offense has had trouble finishing drives, scoring touchdowns on only 47.7% of its chances in the red zone. Maye said that doesn't mean he plans to be timid over the final two games. “I think there’s definitely a way we need to cut down turnovers,” he said. “That starts with me protecting the football and throwing it incomplete or throwing it in the dirt or little things like that. I’m still going to be aggressive.” More offensive momentum? The Chargers could have a major weapon return in running back J.K. Dobbins, who has been on injured reserve after suffering a knee injury against Baltimore on Nov. 25. With Dobbins out of the lineup, the Bolts have struggled to have any consistency on offense. Los Angeles has averaged only 74.8 rushing yards in the past four games, which is quite a drop from the 118.1 they were generating before Dobbins’ injury. Dobbins was listed as questionable, while Gus Edwards — who rushed for two touchdowns and a season-high 68 yards in last Thursday’s win over Denver — was ruled out with an ankle injury. Kimani Vidal and Hassan Haskins would likely take over in the backfield if Dobbins also can't play. Justin Herbert, who has 20,466 career passing yards, needs 153 yards to surpass Peyton Manning for the most in a player's first five seasons in league history. Ladd McConkey is 40 yards away from becoming the first Chargers rookie receiver to reach 1,000 yards since Keenan Allen in 2013. Success heading East The Chargers have won 11 of their past 13 when playing in the Eastern time zone, including last year’s 6-0 victory over the Patriots. Los Angeles has five of its nine games on Eastern time this season for the first time since 2005. They are trying to become the ninth team since 1988 on Pacific time to win at least four games when having to travel at least three time zones. Better start needed The Chargers have given up two touchdowns and a field goal on the first possession in the last three games. They allowed only one touchdown on an opening drive in the first 12 games. Another cause for concern is that the Bolts have given up scores on the first two series in back-to-back games. ___ AP Sports Writer Joe Reedy in Los Angeles contributed to this report. ___ AP NFL: https://apnews.com/hub/NFL Kyle Hightower, The Associated PressFaruqi & Faruqi Reminds Lilium Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of January 6, 2025 – LILM

FILE PHOTO: Nov 23, 2024; Las Vegas, Nevada, USA; Oracle Red Bull Racing driver Max Verstappen (1) during the Las Vegas Grand Prix at Las Vegas Circuit. Mandatory Credit: Gary A. Vasquez-Imagn Images/File Photo FILE PHOTO: The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo General Motors plans to enter Formula One with its Cadillac brand in 2026 after announcing on Monday an agreement in principle with the Liberty Media-owned sport. Hailing a landmark move to become the 11th team on the starting grid, the carmaker said it had also registered with the governing FIA as a power unit manufacturer to become a full works outfit by the end of the decade. They will be the first new team since U.S.-owned Haas debuted in 2016 and GM the sixth engine maker after Audi, Ferrari, Honda, Mercedes and Red Bull/Ford. GM will partner with TWG Global and Mario Andretti -- the last U.S. world champion in 1978 -- will serve as a director on the team's board. "My first love was Formula One and now, 70 years later, the F1 paddock is still my happy place," said Andretti in a Cadillac statement. "To still be involved at this stage of my life; I have to pinch myself to make sure I’m not dreaming." General Motors bosses were at the Las Vegas Grand Prix last weekend to put the seal on a project that was rejected by Formula One last January despite FIA approval. "With Formula One’s continued growth plans in the U.S., we have always believed that welcoming an impressive U.S. brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport," said Liberty Media's outgoing CEO Greg Maffei. "We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula One. "We are excited to move forward with the application process for the GM/Cadillac team to enter the Championship in 2026." FIA SUPPORT FIA President Mohammed Ben Sulayem, who was an early backer of an Andretti bid and has continued to push behind the scenes to get a deal over the line, expressed full support for the latest development. "All parties, including the FIA, will continue to work together to ensure the process progresses smoothly," he said in a statement. An investigation by the U.S. House of Representatives Judiciary Committee into possible 'anticompetitive conduct' also concentrated minds and changed the dialogue, sources said. Formula One had said in January it doubted the original Andretti bid would be competitive or add value but kept a door open for 2028 when partner General Motors could provide an engine. That bid was presented as an Andretti Cadillac entry, with Andretti Global led by Mario's son Michael -- a former F1 racer and 1991 CART champion who was seen by some as a more confrontational figure. Michael Andretti has since taken a step back from his day-to-day operational role and handed over to Dan Towriss, the CEO of TWG Global which owns and operates Andretti Global. The BBC separately quoted senior sources as saying GM and TWG will pay an anti-dilution fee, split between the 10 existing teams, of $450m to secure the entry. The current fee is 200 million, but new rules will apply from 2026. GM will also need to buy in an engine for 2026 and 2027, with Ferrari seen as a leading candidate given that they will have a spare supply when Sauber become Audi. "This is a global stage for us to demonstrate GM’s engineering expertise and technology leadership at an entirely new level," said GM president Mark Reuss. Cadillac has already assembled a team to work on aerodynamics, chassis and component development, software, and vehicle dynamics simulation. Andretti also has a base at Silverstone in England with a number of personnel employed, including former F1 chief technical officer Pat Symonds as executive engineering consultant REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you. Read 3 articles and stand to win rewards Spin the wheel nowSparkle And Style: DIY Table Settings To Dazzle Your New Year FeastBlackbaud CFO Anthony Boor sells $848,536 in stock

NASHVILLE — It was about as bad of a start that Tennessee could imagine on Saturday afternoon. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.

The Latest: Former President Jimmy Carter is Dead at age 100

FILE PHOTO: Nov 23, 2024; Las Vegas, Nevada, USA; Oracle Red Bull Racing driver Max Verstappen (1) during the Las Vegas Grand Prix at Las Vegas Circuit. Mandatory Credit: Gary A. Vasquez-Imagn Images/File Photo FILE PHOTO: The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo General Motors plans to enter Formula One with its Cadillac brand in 2026 after announcing on Monday an agreement in principle with the Liberty Media-owned sport. Hailing a landmark move to become the 11th team on the starting grid, the carmaker said it had also registered with the governing FIA as a power unit manufacturer to become a full works outfit by the end of the decade. They will be the first new team since U.S.-owned Haas debuted in 2016 and GM the sixth engine maker after Audi, Ferrari, Honda, Mercedes and Red Bull/Ford. GM will partner with TWG Global and Mario Andretti -- the last U.S. world champion in 1978 -- will serve as a director on the team's board. "My first love was Formula One and now, 70 years later, the F1 paddock is still my happy place," said Andretti in a Cadillac statement. "To still be involved at this stage of my life; I have to pinch myself to make sure I’m not dreaming." General Motors bosses were at the Las Vegas Grand Prix last weekend to put the seal on a project that was rejected by Formula One last January despite FIA approval. "With Formula One’s continued growth plans in the U.S., we have always believed that welcoming an impressive U.S. brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport," said Liberty Media's outgoing CEO Greg Maffei. "We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula One. "We are excited to move forward with the application process for the GM/Cadillac team to enter the Championship in 2026." FIA SUPPORT FIA President Mohammed Ben Sulayem, who was an early backer of an Andretti bid and has continued to push behind the scenes to get a deal over the line, expressed full support for the latest development. "All parties, including the FIA, will continue to work together to ensure the process progresses smoothly," he said in a statement. An investigation by the U.S. House of Representatives Judiciary Committee into possible 'anticompetitive conduct' also concentrated minds and changed the dialogue, sources said. Formula One had said in January it doubted the original Andretti bid would be competitive or add value but kept a door open for 2028 when partner General Motors could provide an engine. That bid was presented as an Andretti Cadillac entry, with Andretti Global led by Mario's son Michael -- a former F1 racer and 1991 CART champion who was seen by some as a more confrontational figure. Michael Andretti has since taken a step back from his day-to-day operational role and handed over to Dan Towriss, the CEO of TWG Global which owns and operates Andretti Global. The BBC separately quoted senior sources as saying GM and TWG will pay an anti-dilution fee, split between the 10 existing teams, of $450m to secure the entry. The current fee is 200 million, but new rules will apply from 2026. GM will also need to buy in an engine for 2026 and 2027, with Ferrari seen as a leading candidate given that they will have a spare supply when Sauber become Audi. "This is a global stage for us to demonstrate GM’s engineering expertise and technology leadership at an entirely new level," said GM president Mark Reuss. Cadillac has already assembled a team to work on aerodynamics, chassis and component development, software, and vehicle dynamics simulation. Andretti also has a base at Silverstone in England with a number of personnel employed, including former F1 chief technical officer Pat Symonds as executive engineering consultant REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you. Read 3 articles and stand to win rewards Spin the wheel nowA new round of Israeli air strikes in Yemen have targeted the Houthi rebel-held capital and multiple ports while the World Health Organisation’s director-general said the bombardment occurred nearby as he prepared to board a flight. “The air traffic control tower, the departure lounge — just a few metres from where we were — and the runway were damaged,” Tedros Adhanom Ghebreyesus said on the social media platform X. He added that he and UN colleagues were safe. “We will need to wait for the damage to the airport to be repaired before we can leave,” he said. UN spokesperson Stephanie Tremblay later said the injured person was with the UN Humanitarian Air Service. Our mission to negotiate the release of @UN staff detainees and to assess the health and humanitarian situation in #Yemen concluded today. We continue to call for the detainees' immediate release. As we were about to board our flight from Sana’a, about two hours ago, the airport... pic.twitter.com/riZayWHkvf — Tedros Adhanom Ghebreyesus (@DrTedros) December 26, 2024 Israel’s army later told The Associated Press it was not aware that the WHO chief was at the location in Yemen. The Israeli strikes followed several days of Houthi launches setting off sirens in Israel. The Israeli military in a statement said it attacked infrastructure used by the Iran-backed Houthis at the international airport in Sanaa and ports in Hodeida, Al-Salif and Ras Qantib, along with power stations, asserting they were used to smuggle in Iranian weapons and for the entry of senior Iranian officials. Israel’s military added it had “capabilities to strike very far from Israel’s territory — precisely, powerfully, and repetitively”. The strikes, carried out over 1,000 miles from Jerusalem, came a day after Prime Minister Benjamin Netanyahu said “the Houthis, too, will learn what Hamas and Hezbollah and Assad’s regime and others learned” as his military has battled those more powerful proxies of Iran. The Houthi-controlled satellite channel al-Masirah reported multiple deaths and showed broken windows, collapsed ceilings and a bloodstained floor and vehicle. Iran’s foreign ministry condemned the strikes. The US military has also targeted the Houthis in recent days. The UN has said the targeted ports are important entry points for humanitarian aid for Yemen, the poorest Arab nation that plunged into a civil war in 2014. Over the weekend, 16 people were wounded when a Houthi missile hit a playground in the Israeli city of Tel Aviv, while other missiles and drones have been shot down. Last week, Israeli jets struck Sanaa and Hodeida, killing nine people, calling it a response to previous Houthi attacks. The Houthis also have been targeting shipping on the Red Sea corridor in what it says is an act of solidarity with Palestinians in Gaza. The UN Security Council has an emergency meeting on Monday in response to an Israeli request that it condemn the Houthi attacks and Iran for supplying them with weapons. We do not moderate comments, but we expect readers to adhere to certain rules in the interests of open and accountable debate. Last Updated: Are you sure you want to delete this comment?