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NEW YORK — Stoli Group USA, the owner of the namesake vodka , has filed for bankruptcy as it struggled to contend with slowing demand for spirits, a major cyberattack that has snarled its operations and several years of fighting Russia in court. The company in its bankruptcy filing said it is “experiencing financial difficulties” and lists between $50 million and $100 million in liabilities. Stoli vodka and Kentucky Owl bourbon will continue to be available on store shelves while the company navigates the Chapter 11 process, which only pertains to its U.S. business. Until 2022, Stoli was sold as Stolichnaya in the United States, which loosely translates to “capital city” in Russian. The company shortened its title following Russia’s invasion of Ukraine and boycotts against Russian-branded vodkas . Stoli Group’s founder, Russian-born billionaire Yuri Shefler, was exiled from that nation in 2000 because of his opposition to President Vladimir Putin. The liquor has long been marketed as a Russian vodka, but its production facilities have been in Latvia for several decades. Stoli Group is a unit of Luxembourg-based SPI Group, which owns other spirit and wine brands. “The Stoli Group has been targeted by the Russian Federation since it was formed nearly 25 years ago,” said Stoli Group CEO Chris Caldwell in a statement. “Earlier this year the company and our owner were both named by the Russian state as ‘extremist groups working against Russia’s interests.’” Its ongoing legal battle with the Russia government has forced Stoli to “spend dozens of millions of dollars on this long-term court battle across the globe with the Russian authorities,” according to its court filing. Caldwell also said that Stoli’s global operations has been a “victim of a malicious cyber attack” that has forced the company to operate “entirely manually while the systems are rebuilt.” A slowdown in demand for alcohol has crushed several company’s bottom lines following the pandemic when people were stuck at home and stocked up. Stoli’s filings said that it has seen a “decline and softening of demand for alcohol and spirits products post-Covid and especially beginning in 2023 and continuing into 2024.”Marc-Andre Fleury’s game still blooms in new Wild role
Jamiya Neal's monster game leads Creighton past UNLVFort Lauderdale, FL, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm” or the “Company”) (NASDAQ: RIME), an AI-driven technology and consumer electronics holding company, announced today the closing of its previously announced public offering with gross proceeds to the Company of approximately $9.5 million, before deducting placement agent fees and other estimated expenses payable by the Company. The offering comprised of 55,882,352 shares of the Company’s common stock (or pre-funded warrants in lieu of shares of common stock). Each share of common stock or pre-funded warrant was sold with one Series A Warrant to purchase one share of common stock at an exercise price of $0.17 per share (the “Series A Warrants”) and one Series B Warrant to purchase one share of common stock at an exercise price of $0.34 per share (the “Series B Warrants” and, together with the Series A Warrants, the “Warrants”). The Warrants will become exercisable upon the approval of the Company’s stockholders of the issuance of the shares of common stock issuable upon exercise of the Warrants, and certain other provisions of the Warrants. The Series A Warrants will expire on the five-year anniversary of its initial exercise date and the Series B Warrants will expire on the two and one-half-year anniversary of its initial exercise date. The purchase price of each share of common stock and accompanying Warrants was $0.17, and the purchase price of each pre-funded warrant and accompanying Warrants was such price minus $0.01. The Company intends to use the net proceeds from this offering for working capital and other general corporate purposes, and for repayment of certain outstanding senior secured notes of the Company. Univest Securities, LLC is acting as sole placement agent for the offering. The securities described above are being offered by the Company pursuant to a registration statement on Form S-1 (File No. 333283178) (the “Registration Statement”) previously filed and declared effective by the Securities and Exchange Commission (the “SEC”). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or 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 jurisdiction. The offering is being made only by means of a prospectus which is a part of the Registration Statement. A final prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov . Electronic copies of the final prospectus relating to this offering may be obtained, when available, by contacting Univest Securities, LLC at info@univest.us , or by calling +1 (212) 343-8888. About Algorhythm Holdings Algorhythm Holdings, Inc. is a holding company with two primary investments. First, the Company owns SemiCab Holdings, an emerging leader in the AI-enabled global logistics industry. Second, the Company owns The Singing Machine Company, the worldwide leader in the consumer karaoke industry. SemiCab is a cloud-based Collaborative Transportation Platform built to achieve the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. To orchestrate collaboration across manufacturers, retailers, distributors, and their carriers, SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners. To build fully loaded round trips, SemiCab uses AI/ML predictions and advanced predictive optimization models. On the SemiCab platform, shippers pay less and carriers make more while not having to change a thing. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address these common supply-chain problems globally. SemiCab's Orchestrated Collaboration TM AI model has proven to increase transportation capacity, improve asset utilization, reduce empty miles, lower logistics costs, and provide visibility into the entire transportation network. Models show the technology has the capability of saving shippers tens of billions of dollars annually through optimization. Further, SemiCab’s technology also has the potential to play a key role in the improved sustainability model globally. Based on its proven ability to improve truck utilization rates from 65% to over 90%, this results in a dramatic reduction in the carbon footprint of the industry. The optimization of existing truck utilization can add approximately 30% more trucking capacity without adding more trucks, drivers or driven miles which addresses common problems plaguing the industry like severe driver shortage and road congestion. Trucking optimization could also eliminate approximately 25% of CO2 emissions attributable to road freight. For additional information regarding SemiCab: http://www.semicab.com The Singing Machine Company, Inc. is the worldwide leader in consumer karaoke products. Based in Fort Lauderdale, Florida, and founded over forty years ago, the Company designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products. Their portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street. Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products and is also developing the world’s first globally available, fully integrated in-car karaoke system. The Company also has a new philanthropic initiative, CARE-eoke by Singing Machine , to focus on the social impact of karaoke for children and adults of all ages who would benefit from singing. Their products are sold in over 25,000 locations worldwide, including Amazon, Costco, Sam’s Club, Target, and Walmart. To learn more, go to www.singingmachine.com . Investor Relations Contact: investors@algoholdings.com www.algoholdings.com Forward Looking Statements This press release contains certain 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, which statements are subject to considerable risks and uncertainties. The Company intends such forward-looking statements to be covered by the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release, including statements about our beliefs and expectations, are "forward-looking statements" and should be evaluated as such. Forward-looking statements may be identified by words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “suggest”, “will,” and similar expressions. Forward-looking statements in this press release include, without limitation, statements relating to the timing, size and expected gross proceeds of the Offering, the completion of the Offering, the satisfaction of customary closing conditions related to the Offering and sale of securities, the Company’s ability to complete the Offering, and the intended use of proceeds from the Offering. The Company has based these forward-looking statements on its current expectations and projections about future events. Forward-looking statements are subject to and involve risks, uncertainties, and assumptions that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements predicted, assumed or implied by such forward-looking statements, including, without limitation, risks, uncertainties and assumptions related to market conditions and the satisfaction of closing conditions related to the Offering, risks disclosed in the section titled “Risk Factors” included in the Registration Statement on Form S-1 initially filed with the SEC on November 12, 2024, and risks disclosed under item 1A. “Risk Factors” in the Company’s most recently filed Form 10-KT filed with the SEC and the Company’s Quarterly Reports on Form 10-Q. This press release speaks as of the date indicated above. The Company undertakes no obligation and expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.Music Don't miss out on the headlines from Music. Followed categories will be added to My News. Global streaming giant Spotify has released its annual results to users which give them a personalised wrap list of who they listened to the most in the past year – and Australian Prime Minister Anthony Albanese was roasted online after he shared his. The end-of-year campaign known as Spotify Wrapped is a big hit with users looking to reflect on what dominated their playlists in the 12-month period, typically divided into categories such as the Top Tracks, Top Artists and Top Genres. Albanese shared his list on X on Thursday morning, showing his Top Songs as Australia by G Flip, Letting Go by Angie McMahon, Still Have Room by Hockey Dad, Pedestal by Lime Cordiale and Get Me Out by Stingray – and the internet had thoughts. Australian Prime Minister Anthony Albanese was roasted online after he shared his Spotify Wrapped Top Songs for 2024. Picture: NewsWire / Martin Ollman G Flip’s Australia topped the PM’s list. “No one gives a frig what’s on your Spotify list. What they want to hear is what you are actually doing to bring the cost of living issues down and what you are doing with the housing affordability crisis,” read one brutal comment under his post. And on they went: “Your taste in music is almost as trashy as your leadership.” “No one cares. Do your job.” “The country is f***ed & your tweeting about Spotify #priorities.” “WTF? my electricity bill just went up 20% this morning and you’re show me this !!” Spotify Wrapped 2024 is out now. Spotify also released an insight into what the rest of the country and the world tuned into in 2024. No surprises Taylor Swift was the Most-Streamed Artist both is Australia and globally, amassing a whopping 26.6 billion streams worldwide this year. Her album The Tortured Department: The Anthology also took out the number one spot for Australia’s most-streamed album, followed by Sabrina Carpenter’s Short n’ Sweet , and Billie Eilish’ s Hit Me Hard and Soft . Spotify Wrapped 2024 is out now. US artist Benson Boone’s hit Beautiful Things was the Most Streamed Track across the country, while The Wiggles was announced as Australia’s Most-Streamed Local Artists, followed by The Kid LAROI. Here is what dominated Spotify Wrapped’s 2024 global and local top lists: Most-Streamed Artists Globally: 1. Taylor Swift 2. The Weeknd 3. Bad Bunny 4. Drake 5. Billie Eilish 6. Travis Scott 7. Peso Pluma 8. Kanye West 9. Ariana Grande 10. Feid Taylor Swift was 2024’s Most Streamed Artist with 26.6 billion streams worldwide. Picture: ANDRE DIAS NOBRE / AFP Most-Streamed Songs Globally: 1. Espresso by Sabrina Carpenter 2. Beautiful Things by Benson Boone 3. Bird of a Feather by Billie Eilish 4. Gata Only by FloyyMenor, Cris Mj 5. Lose Control by Teddy Swims Most-Streamed Albums Globally: 1. The Tortured Department: The Anthology by Taylor Swift 2. Hit Me Hard and Soft by Billie Eilish 3. Short n’ Sweet by Sabrina Carpenter 4. Mañana Será Bonito by Karol G 5. Eternal Sunshine by Ariana Grande Swift’s The Tortured Poets Department: The Anthology was the Most Streamed Album both locally and globally. Most Viral Songs Globally: 1. Die With A Smile by Bruno Mars, Lady Gaga 2. Birds of a Feather by Billie Eilish 3. Beautiful Things by Benson Boone 4. Lose Control by Teddy Swims 5. Good Luck, Babe! by Chappell Roan Top Podcasts Globally: 1. The Joe Rogan Experience 2. Call Her Daddy 3. Huberman Lab 4.This Past Weekend w/ Theo Von 5. The Diary Of A CEO with Steven Bartlett 6. Serial Killers 7. Relatos de la Noche 8. Crime Junkie 9. Café Com Deus Pai | Podcast oficial 10. El Podcast de Marian Rojas Estapé The Joe Rogan Experience was the top podcast both in Australia and around the world. Illustration: Cindy Ord/Getty Images Top Audiobooks in Premium Globally: 1. A Court of Thorns and Roses by Sarah J. Maas 2. The Fellowship of the Ring by J.R.R. Tolkien 3. I’m Glad My Mom Died by Jennette McCurdy 4. A Court of Mist and Fury by Sarah J. Maas 5. It Ends with Us by Colleen Hoover 6. The 48 Laws of Power by Robert Greene 7. A Court of Wings and Ruin by Sarah J. Maas 8. A Game of Thrones: A Song of Ice and Fire: Book One by George R. R. Martin 9. Icebreaker: A Novel by Hannah Grace 10. Fourth Wing by Rebecca Yarros Here’s what dominated Spotify Wrapped Australia top lists: Australia Most-Streamed Artists: 1. Taylor Swift 2. Drake 3. Zach Bryan 4. Billie Eilish 5. The Weekend Australia Top Local Artists: 1. The Wiggles 2. The Kid LAROI 3. AC/DC 4. Vance Joy 5. RÜFÜS DU SOL The Kid LAROI was among the top Australian artists in 2024. Picture: Matt Winkelmeyer/Getty Images Australia Most-Streamed Songs: 1. Beautiful Things by Benson Boone 2. Espresso by Sabrina Carpenter 3. Stick Season by Noah Kahan 4. A Bar Song (Tipsy) by Shaboozey 5. Lose Control by Teddy Swims Australia Top Local Songs: 1. Riptide by Vance Joy 2. Stumblin’ In by CYRIL 3. Saving Up by Dom Dolla 4. Nights Like This by The Kid LAROI 5. You Shook Me All Night Long by AC/DC Australia Most-Streamed Albums: 1. The Tortured Department: The Anthology by Taylor Swift 2. Short n’ Sweet by Sabrina Carpenter 3. Hit Me Hard and Soft by Billie Eilish 4. Stick Season by Noah Hakan 5. One Thing At A Time by Morgan Wallen 'Short N' Sweet by Sabrina Carpenter was one of Australia’s Most Streamed Albums in 2024. Australia Top Podcasts: 1. The Joe Rogan Experience 2. The Diary Of A CEO with Steven Bartlett 3. Huberman Lab 4. Casefile True Crime 5. Call Her Daddy Australia Top Audiobooks in Premium: 1. Spare by Prince Harry The Duke of Sussex 2. A Court of Thorns and Roses by Sarah J. Maas 3. Atomic Habits by James Clear 4. It Ends with Us by Colleen Hoover 5. The Fellowship of the Ring by J.R.R. Tolkien Australia top local audiobooks in Premium: 1. Lola in the Mirror by Trent Dalton 2. Here One Moment by Liane Moriarty 3. Showing Up by Nedd Brockmann, Hamish Blake 4. Strong Money Australia by Dave Gow 5. Rebel Rising by Rebel Wilson More Coverage ‘Hatred’: Brutal post after Eminem tragedy Sabrina Picou – Page Six Brand’s ‘Freak Off’ antics while married Joshua Haigh Originally published as Spotify Wrapped reveals Australia’s most favourite artists and music for 2024 Read related topics: Anthony Albanese Join the conversation Add your comment to this story To join the conversation, please log in. Don't have an account? 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