Fintech
Mittleman Investment Management, LLC Announces Early Warning Report in Respect of Aimia Inc.
Toronto, Ontario–(Newsfile Corp. – May 14, 2020) – Mittleman Investment Management, LLC (“Mittleman”) will be filing an early warning report pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103“) in respect of the common shares (“Common Shares“) of Aimia Inc. (the “Issuer“).
On May 12, 2020, Mittleman ceased to have direction or control over 4,100,000 Common Shares due to the termination of Mittleman’s discretionary investment authority with respect to one or more managed accounts (“Accounts“). During the period between April 30, 2020 (such date being the date Mittleman filed a report on Form 62-103F2 – Required Disclosure by an Eligible Institutional Investor under Section 4.3 of NI 62-103) (the “Last Reporting Date“) and May 12, 2020, the number of Common Shares over which Mittleman has control or direction decreased by 4,292,000 Common Shares held by Accounts.
As of the date of this press release, Mittleman owned or exercised control or direction over 19,571,552 Common Shares on behalf of the Accounts (including 12,500 Common Shares beneficially owned by Mittleman Brothers, LLC (“MB“), an affiliate of Mittleman and therefore deemed beneficially owned by Mittleman), representing a security holding percentage of approximately 20.86% of the 93,838,329 outstanding Common Shares of the Issuer, as set out in the Issuer’s condensed interim consolidated financial statements dated May 12, 2020 (the “Interim Financials“). This represents a decrease of 4.57% of the outstanding Common Shares of the Issuer from the Last Reporting Date. As at the Last Reporting Date, Mittleman owned or exercised control or direction over 23,863,552 Common Shares on behalf of the Accounts, representing a security holding percentage of approximately 25.43% of the 93,838,329 outstanding Common Shares of the Issuer, as set out in the Interim Financials.
Mittleman may be deemed to exercise control or direction over the Common Shares beneficially owned by its officers and employees in accounts over which Mittleman does not exercise control or direction (the “Designated Persons“) (and Mittleman disclaims any beneficial ownership thereof). During the period between the Last Reporting Date and May 12, 2020, the number of Common Shares over which Mittleman may be deemed to exercise control or direction beneficially owned by the Designated Persons did not change. If Mittleman is deemed to exercise control or direction over the 394,757 Common Shares beneficially owned by the Designated Persons (and Mittleman disclaims any beneficial ownership thereof), Mittleman would be deemed to exercise control or direction over 19,966,309 Common Shares representing a security holding percentage of approximately 21.28% of the Common Shares as set out in the Interim Financials.
As noted above, a report on Form 62-103F1 – Required Disclosure under the Early Warning Requirements will be filed by Mittleman in accordance with applicable securities laws and will be available on the Issuer’s profile on the SEDAR website (www.sedar.com).
This news release is issued under the early warning provisions of the Canadian securities legislation. The head office of the Issuer is 525, avenue Viger West, suite 1000, Montreal, Québec, H2Z 0B2. The address of Mittleman is 105 Maxess Road, Suite 207, Melville, NY 11747.
TRANSACTION WITH THE ISSUER
On April 29, the Issuer announced that Mittleman and MB have entered into a definitive agreement to be acquired by the Issuer (the “Transaction“). On closing of the Transaction, it is anticipated that certain Designated Persons will acquire up to 3,396,553 Common Shares. Further details with respect to the Transaction can be found in the press release issued by Mittleman on April 30, 2020 and report on Form 62-103F2 – Required Disclosure by an Eligible Institutional Investor under Section 4.3 of NI 62-103 filed by Mittleman on that date and available on the Issuer’s profile on the SEDAR website (www.sedar.com).
SETTLEMENT AGREEMENT
On November 15, 2019, Mittleman and MB entered into a settlement agreement (the “Settlement Agreement“) with the Issuer and Charles Frischer (the “Parties“), pursuant to which the Parties agreed to a governance process that was materially implemented before and at the annual meeting of the shareholders of the Issuer held on April 30, 2020. Further details with respect to the Settlement Agreement can be found in the most recent alternative monthly report of Mittleman filed on January 10, 2020 and available on the Issuer’s profile on the SEDAR website (www.sedar.com).
FOR MORE INFORMATION:
For further information or to receive a copy of the early warning report filed in connection with this press release, please see the Issuer’s profile on the SEDAR website (www.sedar.com) or contact Philip C. Mittleman, Chief Executive Officer of Mittleman at 212-217-2340.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55860
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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