Qumu Corp. To Be Bought By Enghouse Systems For Around $18 Mln Cash

Russia Launches Rare Overnight Drone Attacks In Kyiv

Russian forces carried out rare overnight drone attacks in Ukrainian capital Kyiv, injuring two and damaging a critical infrastructure facility.

A Ukrainian military commander accused Russia of using Iranian-made Shahed attack drones Monday morning. Serhiy Popko, head of Kyiv’s military administration, claimed that Ukrainian forces shot down most of them.

Solomyanskyi district and Shevchenkivskyi district were the most-affected in Monday’s attacks, causing blackout across the region.

The latest round of Russian attack comes three days after four people were killed in widespread missile and drone attacks launched across Ukraine.

Russia has intensified attacks since October, targeting Ukraine’s energy system and civilian infrastructure, causing power outages in the freezing winter.

Meanwhile, Russian President Vladimir Putin is to meet his close ally Belarus President Alexander Lukashenko in Minsk Monday.

Ukraine’s President Volodymyr Zelensky had warned that Russia could be planning a Belarus-based major attack in January.

In his nightly address on Sunday, Zelensky said power has been restored to 9 million people who were left in darkness after Russian forces targeted several Ukrainina cities with dozens of missiles Friday.

The country’s nine power generation facilities were damaged in the attacks.

Zymeworks Reports Positive Topline Data From HERIZON-BTC-01 Trial Of Zanidatamab

Zymeworks Inc. (ZYME) reported positive topline results from the Phase 2b HERIZON-BTC-01 trial investigating zanidatamab as monotherapy in patients with previously treated HER2-amplified and expressing BTC. The company said the topline results showed that 41.3% of enrolled patients with HER2-amplified and expressing disease achieved an objective response as assessed by independent central review. The safety profile was consistent with that observed in previously reported monotherapy studies. Full results from the trial are expected to be presented at a medical meeting in 2023.

“These data demonstrate that zanidatamab, as a single agent, improves on the current standard of care for patients in a difficult-to-treat disease who currently have a poor prognosis based on the limited treatment options currently available,” said Neil Josephson, Chief Medical Officer at Zymeworks.

For More Such Health News, visit rttnews.com.

China Bank Lending Growth Misses Expectations

China’s bank lending increased less than expected in November despite efforts of the central bank to prop up credit and support economic growth, official data revealed Monday.

Banks extended CNY 1.21 trillion in new yuan loans in November, figures from the People’s Bank of China showed. This was weaker than economists’ forecast of CNY 1.4 trillion but it improved from CNY 615.2 billion in October.

M2 money supply expanded at a faster pace of 12.4 percent from the last year, faster than the 11.7 percent rise expected by economists.

Total social financing, a broad measure of credit and liquidity in the economy, increased to CNY 1.99 trillion. Still, this was below economists’ forecast of CNY 2.1 trillion.

Data provides a clear sign that monetary easing has failed to gain traction due to virus disruption and waning confidence among households and firms, Capital Economics’ economist Julian Evans-Pritchard, said.

The economist expects the leadership to signal plans for strong policy easing at the Central Economic Work Conference this week, and there is a chance that the central bank will lower its Medium-term lending facility rate on Thursday.

“Nonetheless, a substantial rebound in credit growth seems unlikely until the bumpy transition to living with the virus has run its course,” the economist added.

Last month, the PBoC had kept the rate on the medium-term lending facility, which acts as a guide to the loan prime rate, unchanged at 2.75 percent.

Unique Logistics To Merge With Edify’s Arm To Form New Nasdaq Listed Firm

Unique Logistics International, Inc. (UNQL), a logistics and freight forwarding firm, said on Monday that it has inked a definitive deal with Edify Acquisition Corp. (EAC), a special purpose acquisition company, for its merger with Edify’s arm.

The transaction will allow Unique to become a subsidiary of Edify and the new firm will list its class A shares on the Nasdaq Capital Market.

Financial terms of the transaction, which provides Unique Logistics with debt capital to facilitate previously announced acquisitions and additional working capital, are not known.

Sunandan Ray, CEO of Unique, said: “We also expect the merger to provide us with additional capital to advance freight forwarding and contract logistics expansion efforts in strategic markets in the United States, helping Unique achieve our goal of rapidly capturing market share across all critical logistics hubs in the country…”

Unique Logistics has committed to a senior secured financing facility of up to $35 million.

The company intends to use the proceeds to fund its previously announced pending acquisitions of eight subsidiaries and affiliates of Unique Logistics Holdings Limited.

Qumu Corp. To Be Bought By Enghouse Systems For Around $18 Mln Cash

Qumu Corporation (QUMU), a provider of cloud-based enterprise video technology, and Enghouse Systems Ltd. (ENGH), a Canadian enterprise software solutions firm, said on Monday that it agreed to be acquired by Enghouse for around $18 million in cash.

A newly formed wholly owned arm of Enghouse will start a tender offer to purchase all shares of Qumu for $0.90 per share in cash, a premium of around 105 percent over the $0.44 per share, the closing price of Qumu share on December 16.

The transaction is expected to be completed in February 2023. .

Neil Cox, Chairman, Qumu Board, said: “The Qumu board is committed to maximizing shareholder value and has unanimously approved the transaction with Enghouse. We believe this transaction will deliver excellent value to our shareholders.”