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Pisces Monthly Horoscope for December, 2024 predicts financial windfallThe Kremlin fired a new intermediate-range ballistic missile at Ukraine on Thursday in response to Kyiv’s use this week of American and British missiles capable of striking deeper into Russia, President Vladimir Putin said. In a televised address to the country, the Russian president warned that U.S. air defense systems would be powerless to stop the new missile, which he said flies at ten times the speed of sound and which he called the Oreshnik — Russian for hazelnut tree. He also said it could be used to attack any Ukrainian ally whose missiles are used to attack Russia. “We believe that we have the right to use our weapons against military facilities of the countries that allow to use their weapons against our facilities,” Putin said in his first comments since President Joe Biden gave Ukraine the green light this month to use U.S. ATACMS missiles to strike at limited targets inside Russia. Pentagon deputy press secretary Sabrina Singh confirmed that Russia’s missile was a new, experimental type of intermediate range missile based on it’s RS-26 Rubezh intercontinental ballistic missile. “This was new type of lethal capability that was deployed on the battlefield, so that was certainly of concern,” Singh said, noting that the missile could carry either conventional or nuclear warheads. The U.S. was notified ahead of the launch through nuclear risk reduction channels, she said. The attack on the central Ukrainian city of Dnipro came in response to Kyiv’s use of longer-range U.S. and British missiles in strikes Tuesday and Wednesday on southern Russia, Putin said. Those strikes caused a fire at an ammunition depot in Russia’s Bryansk region and killed and wounded some security services personnel in the Kursk region, he said. “In the event of an escalation of aggressive actions, we will respond decisively and in kind,” the Russian president said, adding that Western leaders who are hatching plans to use their forces against Moscow should “seriously think about this.” Putin said the Oreshnik fired Thursday struck a well-known missile factory in Dnipro. He also said Russia would issue advance warnings if it launches more strikes with the Oreshnik against Ukraine to allow civilians to evacuate to safety — something Moscow hasn’t done before previous aerial attacks. Kremlin spokesman Dmitry Peskov initially said Russia hadn’t warned the U.S. about the coming launch of the new missile, noting that it wasn’t obligated to do so. But he later changed tack and said Moscow did issue a warning 30 minutes before the launch. Putin’s announcement came hours after Ukraine claimed that Russia had used an intercontinental ballistic missile in the Dnipro attack, which wounded two people and damaged an industrial facility and rehabilitation center for people with disabilities, according to local officials. But American officials said an initial U.S. assessment indicated the strike was carried out with an intermediate-range ballistic missile. Ukrainian President Volodymyr Zelenskyy said in a Telegram post that the use of the missile was an “obvious and serious escalation in the scale and brutality of this war, a cynical violation of the UN Charter.” He also said there had been “no strong global reaction” to the use of the missile, which he said could threaten other countries. “Putin is very sensitive to this. He is testing you, dear partners,” Zelenskyy wrote. “If there is no tough response to Russia’s actions, it means they see that such actions are possible.” The attack comes during a week of escalating tensions , as the U.S. eased restrictions on Ukraine’s use of American-made longer-range missiles inside Russia and Putin lowered the threshold for launching nuclear weapons. The Ukrainian air force said in a statement that the Dnipro attack was launched from Russia’s Astrakhan region, on the Caspian Sea. “Today, our crazy neighbor once again showed what he really is,” Zelenskyy said hours before Putin’s address. “And how afraid he is.” Russia was sending a message by attacking Ukraine with an intermediate-range ballistic missile capable of releasing multiple warheads at extremely high speeds, even if they are less accurate than cruise missiles or short-range ballistic missiles, said Matthew Savill, director of military sciences at the Royal United Services Institute, a London-based think tank. “Why might you use it therefore?” Savill said. “Signaling — signaling to the Ukrainians. We’ve got stuff that outrages you. But really signaling to the West ‘We’re happy to enter into a competition around intermediate range ballistic missiles. P.S.: These could be nuclear tipped. Do you really want to take that risk?’” Military experts say that modern ICBMs and IRBMs are extremely difficult to intercept, although Ukraine has previously claimed to have stopped some other weapons that Russia described as “unstoppable,” including the air-launched Kinzhal hypersonic missile. David Albright, of the Washington-based think tank the Institute for Science and International Security, said he was “skeptical” of Putin’s claim, adding that Russian technology sometimes “falls short.” He suggested Putin was “taunting the West to try to shoot it down ... like a braggart boasting, taunting his enemy.” Earlier this week, the Biden administration authorized Ukraine to use the U.S.-supplied, longer-range missiles to strike deeper inside Russia — a move that drew an angry response from Moscow. Days later, Ukraine fired several of the missiles into Russia, according to the Kremlin. The same day, Putin signed a new doctrine that allows for a potential nuclear response even to a conventional attack on Russia by any nation that is supported by a nuclear power. The doctrine is formulated broadly to avoid a firm commitment to use nuclear weapons. In response, Western countries, including the U.S., said Russia has used irresponsible nuclear rhetoric and behavior throughout the war to intimidate Ukraine and other nations. White House press secretary Karine Jean-Pierre said Thursday that Russia’s formal lowering of the threshold for nuclear weapons use did not prompt any changes in U.S. doctrine. She pushed back on concerns that the decision to allow Ukraine to use Western missiles to strike deeper inside Russia might escalate the war. ′′They’re the ones who are escalating this,” she said of the Kremlin — in part because of a flood of North Korean troops sent to the region. More than 1,000 days into war , Russia has the upper hand, with its larger army advancing in Donetsk and Ukrainian civilians suffering from relentless drone and missile strikes. Analysts and observers say the loosening of restrictions on Ukraine’s use of Western missiles is unlikely to change the the course of the war, but it puts the Russian army in a more vulnerable position and could complicate the logistics that are crucial in warfare. Putin has also warned that the move would mean that Russia and NATO are at war. “It is an important move and it pulls against, undermines the narrative that Putin had been trying to establish that it was fine for Russia to rain down Iranian drones and North Korean missiles on Ukraine but a reckless escalation for Ukraine to use Western-supplied weapons at legitimate targets in Russia,” said Peter Ricketts, a former U.K. national security adviser who now sits in the House of Lords.Shah Rukh Khan Wishes 'Coolest Of Cool' Rajinikanth With A Throwback Pic On His 74th Birthday
On the night of Dec. 3, 2024, South Korean President Yoon Suk Yeol declared martial law in the country. Soldiers entered Seoul, South Korea’s capital city, and attempted to prevent the country’s legislature from meeting while citizens took to the streets in protest. Since then, the National Assembly, South Korea’s legislature, voted 190-0 to lift the country’s martial law declaration. At 4:30 a.m. local time on Dec. 4, Yoon lifted the declaration. We’re VERIFYING photos that have gone viral in the hours since Yoon first declared martial law. THE QUESTION Was this photo of a convoy of military vehicles on a South Korea city street taken after President Yoon declared martial law? THE SOURCES KFN , a YouTube channel run by the South Korean military Seoul Shinmun , an online news publication in South Korea THE ANSWER No, the photo of a convoy of military vehicles in Seoul, South Korea’s capital city, was not taken during the country’s period of martial law. VERIFY used RevEye, a reverse image search tool, to trace the image back to a Jan. 27, 2024, Korean news article . That article, which sourced the image to the Defense Public Relations Agency, said the armored vehicles were participating in a training exercise in downtown Seoul. The South Korean military posted a video about the convoy and training exercise to its YouTube channel , KFN, on Jan. 25, 2024. That video showed multiple angles of the convoy as it moved through Seoul. Rumors that tanks were deployed to Seoul after the martial law declaration have not been confirmed. VERIFY has not found any local press photos of tanks in the city, and the veracity of social media photos of tanks in the city could not be confirmed. THE QUESTION Is this a real photo of people protesting South Korea’s martial law? THE SOURCES European Pressphoto Agency , a photo service founded by seven European news agencies RevEye, a reverse image source tool THE ANSWER No, this is not a photo of people protesting President Yoon’s declaration of martial law on the night of Dec. 3. It is a photo from an earlier protest against Yoon, calling for his resignation amid allegations of corruption. VERIFY once again checked for the source of the image using RevEye. Through that search, VERIFY found an Italian news article published Nov. 30, 2024, that credited the image to Jeon Heon Kyun of the EPA. “EPA” is the acronym of the European Pressphoto Agency , which published the photo that same day. THE QUESTION Is this a real photo of staff at the National Assembly Building using fire extinguishers to prevent soldiers from advancing? THE SOURCES Reuters SBS News , a Korean news broadcaster THE ANSWER Yes, this is a real photo of staff at the National Assembly Building using fire extinguishers to prevent soldiers from advancing during martial law on the night of Dec. 3, 2024. The photo was published by Reuters . The incident was captured on video by Korean news broadcaster SBS News. It can be seen 11:56 minutes into this video . THE QUESTION Is this a real photo of protesters pushing a Korean lawmaker over the gate to parliament while the military was blocking it? THE SOURCES Gukjenews News Agency , a Korean news publication Livestream of Lee Jae Myung , leader of South Korea’s opposition party THE ANSWER Yes, this is a real photo of protesters pushing a Korean lawmaker over the gate of the National Assembly Building, which is where Korea’s legislative body gathers. At the time, when martial law was in effect, the military was attempting to prevent entry into the building. The image is watermarked with the logo of the Gukjenews news agency. That photo can be found on the news agency’s website . Gukjenews published a number of photos from the protest outside of South Korea’s National Assembly Building in Seoul. This lawmaker was not the only one who had to climb over the gate to enter the National Assembly Building. Lee Jae Myung, a member of the National Assembly and the leader of the country’s opposition party, climbed over the fence to enter the National Assembly Building while recording a livestream posted to his YouTube channel. Related Articles Yes, Trump’s proposed tariffs would raise costs for Americans Yes, a president can pardon someone for crimes they haven’t actually been charged with What we can VERIFY about Enron’s return to the internet The VERIFY team works to separate fact from fiction so that you can understand what is true and false. Please consider subscribing to our daily newsletter , text alerts and our YouTube channel . You can also follow us on Snapchat , Instagram , Facebook and TikTok . Learn More » Follow Us YouTube Snapchat Instagram Facebook TikTok Want something VERIFIED? Text: 202-410-8808
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NFL coaches and players are constantly on camera, even when they're not on the field. Frequent press conferences with the media provide NFL fans with a steady stream of quotes about their favorite teams and players. These quotes can actually be used to make informed decisions about our fantasy teams. These useful quotes can pertain to injury outlooks, player usage, overall offensive tendencies and philosophy, and more. The key is to know which quotes are actionable, and which ones are just fluff that can be ignored. The vast majority of these quotes will be sourced from the interviews that beat reporters conduct with players and coaches throughout the week. The Coachspeak Index (CSI) does a phenomenal job of listening to these interviews and picking out the key nuggets. In this article, we'll be taking a look at quotes (from CSI and other sources) and analyzing their fantasy impact. Some may be more serious than others, but it's all about getting a feel for coaches and players from information that may not show up in the box score. WEEK 13 FANTASY FOOTBALL RANKINGS QBs | RBs | WRs | TEs | D/ST | Kickers Fantasy Football Coachspeak Highlights: What are coaches saying about Malik Nabers, Brock Purdy, and more? Brian Daboll comments on Malik Nabers' usage Brian Daboll says he talked with Malik Nabers after his postgame comments yesterday: "He's a very competitive individual. You want to get the ball in his hands and I've got to do a better job of getting the ball in his hands early. He's a smart young guy who's very competitive." pic.twitter.com/jm00NZo1QS Following the Buccaneers' 30-7 rout of the Giants, Malik Nabers had some comments for the media, expressing his frustration about his lack of usage in the first half of the game. When he was asked why he did not see a target in the first half, Nabers replied, " I don't know, talk to Dabs (Daboll) about that." When asked about these comments, Brian Daboll noted Nabers' competitiveness, and how it's his job to get the ball into Nabers' hands. Key Fantasy Takeaway: With the Giants coming in as the No. 32 scoring offense in the league, Nabers essentially needs to command a 30-percent target share every week to be a WR1 option. We'll see what Daboll can do in terms of scheming up targets for Nabers next week, but Nabers' fantasy value has been in freefall as a part of the sinking ship that is the Giants' offense. WEEK 13 FANTASY FOOTBALL WAIVER WIRE ADVICE Full Waiver Wire List | FAAB Recommendations Matt Eberflus is impressed with Caleb Williams' development #Bears HC Matt Eberflus on Caleb Williams: “He’s growing in front of our eyes. And today was really good growth for him, to be able to go out there and execute the way he did” pic.twitter.com/7Xi8uYm6ft After a string of disappointing games through the middle part of the year, Caleb Williams has played some of the best football of his young career in the last two weeks. These two games have been narrow losses, but head coach Matt Eberflus has taken note of his development. Eberflus specifically noted Williams has shown growth in his ability to find space on the field and adjust the velocity of his passes in recent weeks. Key Fantasy Takeaway: Improved play from Caleb Williams has been critical for the fantasy value of Chicago's wide receivers, particularly DJ Moore and Keenan Allen. Both Moore and Allen eclipsed 23 PPR points last Sunday against the Vikings, with both setting season-highs in terms of their fantasy output. If Williams can continue to deliver quality balls to his receivers, they could emerge in the group of players you're comfortable starting every week in fantasy. Sean Payton speaks highly of Devaughn Vele #Broncos head coach Sean Payton on rookie WR Devaughn Vele: “Very quickly we’ve seen his growth. He’s got strong hands in traffic... he reminds me a lot of Marques Coltson.” “In our staff meeting 20 minutes ago I said we gotta continue to find touches for him” pic.twitter.com/m5gzfSVoNg Rookie wide receiver Devaughn Vele has been breaking out in recent weeks. In the Broncos' last two games, Vele has combined for 10 receptions and 146 yards on 14 targets. Sean Payton is well aware of his play in these games and was complimentary of Vele in Monday's press conference. He noted Vele's strong hands and even compared him to former Saints' receiver Marques Colston. Key Fantasy Takeaway: Vele has not yet been elevated to a full-time role in the Broncos' offense, but he's drawing targets at a high rate, and now it's clear that it is a priority for this offense to get him the ball. Vele is a strong waiver wire pickup this week in hopes that his role continues to expand and he solidifies himself as the No. 2 option behind Courtland Sutton. Kyle Shanahan provides an update on Brock Purdy #49ers QB Brock Purdy did some light throwing today without issue, according to Kyle Shanahan. He'll rest tomorrow and then see how it feels as the week goes on. The San Francisco 49ers have been rather cagey regarding the status of Brock Purdy's shoulder. There have been conflicting reports regarding his Week 13 availability, but at this point, we simply don't know if he'll play against the Bills. All we know is that Purdy is back on the field throwing in some capacity, and we'll get further updates later this week. Key Fantasy Takeaway: Having Brandon Allen under center was disastrous for the 49ers' offense last week. They posted their lowest yardage and point totals of the year, and George Kittle was the only 49er who delivered meaningful fantasy production. Against a talented Buffalo defense, it could be another week of disappointment for the 49ers' weapons if Allen is at the helm again. Purdy has been crucial to the fantasy success of the players in this offense, and it clearly showed last week while he was sidelined. Injury updates for the Washington backfield Austin Ekeler's tests last night came back 'good', Dan Quinn said. But Ekeler will be in the concussion protocol. So, too, is Andrew Wylie. Brian Robinson is getting treatment for his ankle. Will know more later in the week. By the end of the game last Sunday, Jeremy McNichols was the only healthy running back in Washington. Brian Robinson left with an ankle injury while Austin Ekeler suffered a concussion. Head coach Dan Quinn noted that Ekeler's results were "good", but he's still in concussion protocol. Robinson will undergo treatment for his ankle, and his status for next week seems to be up in the air. Key Fantasy Takeaway: The Commanders' backfield has not had much stability this season. This is Ekeler's second time in concussion protocol, while Robinson has dealt with a litany of lower-body injuries. These injuries make McNichols a priority waiver target this week. There's a very real chance he operates in a featured role against the Titans, which would provide fantasy appeal for teams that lack RB depth.FAIRVIEW, N.C. (AP) — Vice President-elect JD Vance on Friday assured residents of western North Carolina still cleaning up from Hurricane Helene that they haven't been forgotten as he surveyed storm wreckage and talked to first responders in one of his first public appearances since the election. Vance said he was visiting because the holidays are approaching and he wants to provide some comfort to those affected by the hurricane as they go about trying to rebuild their homes and livelihoods. “My simple message to the people of Appalachia is that we haven’t forgotten you — we love you,” said Vance, who made a name for himself writing about the region in his memoir “Hillbilly Elegy.” He added, “Certainly when this administration changes hands in the next 45 days, we’re going to do everything that we can to help people rebuild, to get them back on their feet, to bring some commerce back to this area, but, most importantly, to allow people to live in their homes.” The hurricane struck in late September and caused at least $53 billion in damage in North Carolina, according to a state government estimate. More than 100 North Carolina residents died from the storm, which the state estimates damaged over 120,000 homes, at least 6,000 miles (9,700 kilometers) of roads and over 160 sewer and water systems. The incoming vice president and his wife, Usha, visited the Fairview Volunteer Fire Department, where they heard that the building flooded with 4 to 6 inches of water and that roughly a dozen people contracted walking pneumonia as they responded to the hurricane's destruction. Power outages meant that some first responders and their families could not check in on each other for several days. At least one firefighter lost his life while trying to save lives in the storm. Vance also toured a two-story house that is being rebuilt after the storm. The construction is being undertaken by Samaritan's Purse, an evangelical Christian charity led by Franklin Graham, son of the late pastor Billy Graham, who was known for his close relationships with U.S. presidents. “We want you to have the best Christmas as you possibly can have, despite the circumstances,” he said in a message to residents while speaking to reporters after touring the damaged home. More than 60% of voters in Buncombe County, where Vance visited Friday, backed Vice President Kamala Harris, the Democratic nominee, in November's presidential election. Liberal-leaning Asheville is known for its vibrant arts scene and the Biltmore Estate tourist attraction. The city’s arts district faced substantial damage from Helene. But the majority of North Carolina voters supported President-elect Donald Trump, and he generally fared better among voters hurt by Hurricane Helene. The Republican gave a blistering critique of the Biden administration's relief efforts, which President Joe Biden characterized as “un-American” misinformation. AP VoteCast, an extensive survey of the electorate, found that 26% of North Carolina voters said the hurricane affected their lives by damaging their homes, causing extended power outages or interfering with their ability to cast a ballot. Trump won 53% of those voters. Vance has largely stayed out of the public eye since the Nov. 5 election aside from shepherding Trump's Cabinet nominees around Capitol Hill. Vance defended Pete Hegseth after his tour of the region, saying that Trump's defense secretary nominee deserved a Senate confirmation hearing rather than a “sham hearing before the American media” over allegations of sexual assault and excessive drinking of alcohol. The incoming vice president also said he did not know whether he would be escorting Kash Patel, Trump's pick for FBI director, around the Senate next week. In North Carolina, state lawmakers have already allocated more than $900 million in disaster relief, but Gov. Roy Cooper has sought at least $3.9 billion. The Democratic governor and other state leaders have asked the federal government for $25 billion in aid. Hundreds of miles of roads have been reopened and water systems are back online, but the work has been slow-going. More than 100,000 western North Carolina residents were told just two weeks ago that they could once again use water coming out of Asheville’s water system to bathe and to drink from the faucet. A destroyed water system in at least one isolated county could take years to rebuild. Many Republicans and residents were critical of the initial recovery operations by the federal government and Cooper’s administration. Housing for displaced residents for the winter has become a concern, and some allies of Cooper have blamed GOP lawmakers for failing to provide grants to small businesses at risk of failing and housing renters faced with eviction. Darlene Superville And Gary Robertson, The Associated PressPLANO, Texas--(BUSINESS WIRE)--Dec 12, 2024-- Upbound Group, Inc. (“Upbound” or the “Company”) (NASDAQ: UPBD), a technology and data-driven leader in accessible and inclusive financial products that address the evolving needs and aspirations of underserved consumers, today announced it has entered into a definitive agreement to acquire Brigit, a leading financial health technology company, for total consideration of up to $460 million consisting of cash and shares of Upbound common stock. This transaction is a logical next step reflecting Upbound’s strategic focus on expanding its technology-driven financial solutions for consumers who are underserved by the traditional financial system. Brigit, which offers a subscription-based model, was launched nationally in 2019 to expand financial inclusion and help consumers build a brighter financial future. It is consistently ranked among the most downloaded financial health apps and is a recognized leader in innovation in the industry. Built on proprietary artificial intelligence and machine learning-powered cash flow data insights, Brigit’s core product is its direct-to-consumer Instant Cash advance product (earned wage access or EWA) which has saved its users approximately $1 billion in overdraft fees since inception 2. Brigit also offers a credit builder product that helps its subscribers build their credit history over time as they increase their savings, as well as financial wellness solutions and educational resources to help consumers better manage, save, and earn money. Brigit currently serves nearly two million monthly active customers, including over one million active paying subscribers and almost one million free subscribers. Their customers are highly engaged, with paid users logging in on average six times per month. The business is expected to generate revenues of approximately $215 million to $230 million in 2025 and approximately $350 million to $400 million in 2026. Brigit will expand Upbound’s offerings of innovative and flexible financial solutions, positioning the combined company to create an industry-leading technology platform for the financially underserved that meets the consumer wherever they are on their financial journey. In addition, Brigit’s proprietary data and sophisticated tech stack are expected to enhance Upbound’s existing brands, including Acima and Rent-A-Center (RAC), by improving risk management and fraud prevention, enabling more customer approvals while also mitigating net losses and enhancing account management. The combined company’s data-driven insights will create a more personalized customer experience with the ability to deliver, at the right time and through the right channels, a wider range of targeted solutions for consumers. Upbound expects these enhancements to boost conversion rates, lower churn, and increase customer loyalty and engagement. “We are thrilled to welcome Brigit, a company whose mission and target customer base are closely aligned with ours, into our family of brands,” said Upbound’s Chief Executive Officer Mitch Fadel. “Creating a financial solutions platform with Brigit as the backbone expands our addressable market and enables Upbound to innovate across even more product categories to improve the financial health of our customers. The ability to add new products for our customers beyond lease-to-own is an important part of our strategy and now we can offer liquidity solutions, budgeting, credit building, financial literacy and savings. We believe this transaction will position Upbound for accelerated growth, with greater scale and a more diversified financial profile, ultimately driving long-term value for our shareholders.” “Brigit has helped everyday Americans build a brighter financial future through a suite of innovative financial products that leverage cutting-edge cash flow technology,” said Brigit cofounder & CEO Zuben Mathews. “This transaction is a testament to our team’s continued passion for helping the underserved and our dedication to innovation. By combining forces with Upbound, we can accelerate our impact and better serve the millions of Americans who have been historically underserved by traditional financial institutions. Together, we are excited to widen our reach and bring financial freedom to even more people in need.” Brigit founders Zuben Mathews and Hamel Kothari will continue to lead the Brigit team as a business segment of Upbound. Brigit will continue to operate under its existing branding and will retain its headquarters in New York City, which is expected to serve as one of Upbound’s innovation hubs. Transaction Details Upbound is acquiring Brigit for up to $460 million, comprised of (1) $325 million payable at closing, 75% in cash and 25% in Upbound shares; (2) $75 million in deferred cash consideration over two years; and (3) a potential earnout of up to $60 million in cash based on achievement of certain financial performance metrics for the Brigit business in 2026. Upbound will fund the transaction through a combination of cash on hand, borrowing capacity under its $550 million revolving credit facility, and issuance of new shares of Upbound common stock to Brigit stockholders. The integration of Brigit’s all-digital, scalable platform is expected to expand Upbound’s addressable market outside of durable goods and enhance its strong financial profile while adding an additional complementary growth segment. With approximately 80% recurring subscription revenue, and an estimated total revenue growth in 2024 of 40% to 50% compared to 2023 with similar expectations in 2025, Upbound believes the transaction will accelerate its growth and is expected to be neutral to non-GAAP EPS in year one and meaningfully accretive to non-GAAP EPS in year two and beyond. Brigit will diversify Upbound’s revenue/Adjusted EBITDA mix; within the next four years, Upbound expects approximately two-thirds of revenue and Adjusted EBITDA 3 will be derived from virtual and digital platforms. Following the transaction, Upbound expects pro forma net leverage ratio of approximately 3x 4 and pro forma available liquidity of nearly $300 million 5. Upbound continues to target leverage of approximately 2x over the long-term. The acquisition is expected to close in Q1 2025, subject to receipt of requisite regulatory approvals and satisfaction of other customary closing conditions. Advisors Greenhill & Co. Inc. is acting as financial advisor to Upbound, Sullivan & Cromwell LLP and Mayer Brown LLP are acting as its legal counsel. FT Partners is acting as financial advisor to Brigit and Cooley LLP and Morgan Lewis & Bockius LLP are acting as its legal counsel. Investor Conference Call Details Upbound will host a conference call on Friday, December 13, 2024, at 9:00 am (ET) to discuss this transaction. Interested parties can access a live webcast of the conference call via this link or through the Company's investor relations website. About Upbound Group, Inc. Upbound Group, Inc. (NASDAQ: UPBD), is a technology and data-driven leader in accessible and inclusive financial products that address the evolving needs and aspirations of underserved consumers. The Company’s customer-facing operating units include industry-leading brands such as Rent-A-Center® and Acima® that facilitate consumer transactions across a wide range of store-based and digital retail channels, including over 2,300 company branded retail units across the United States, Mexico and Puerto Rico. Upbound Group, Inc. is headquartered in Plano, Texas. For additional information about the Company, please visit our website Upbound.com . About Brigit Brigit is a holistic financial health app that has helped millions of Americans budget better, get their earned wages early, build their credit through savings, protect themselves from identity theft, and find ways to earn and save money. Its mission is to help everyday Americans build a better financial future. Brigit is backed by Lightspeed, DCM, Nyca, Flourish Ventures, Hummingbird VC, DN Capital, Will Smith, Kevin Durant, and other prominent investors. Cautionary Note Regarding Forward-Looking Statements This press release and the associated investor presentation and webcast contain forward-looking statements that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "could," "estimate," "predict," "continue," "should," "anticipate," "believe," or “confident,” or the negative thereof or variations thereon or similar terminology and include, among others, statements concerning (a) the anticipated benefits of the proposed transaction, (b) the anticipated impact of the proposed transaction on the combined company’s business and future financial and operating results, (c) the anticipated closing date for the proposed transaction, (d) other aspects of both companies’ operations and operating results, and (e) our goals, plans and projections with respect to our operations, financial position and business strategy. However, there can be no assurance that such expectations will occur. The Company's actual future performance could differ materially and adversely from such statements. Factors that could cause or contribute to such material and adverse differences include, but are not limited to: (1) risks relating to the proposed transaction, including (i) the inability to obtain regulatory approvals required to consummate the transaction with Brigit on the terms expected, at all or in a timely manner, (ii) the impact of the additional debt on the Company’s leverage ratio, interest expense and other business and financial impacts and restrictions due to the additional debt, (iii) the failure of conditions to closing the transaction and the ability of the parties to consummate the proposed transaction on a timely basis or at all, (iv) the failure of the transaction to deliver the estimated value and benefits expected by the Company, (v) the incurrence of unexpected future costs, liabilities or obligations as a result of the transaction, (vi) the effect of the announcement of the transaction on the ability of the Company or Brigit to retain and hire necessary personnel and maintain relationships with material commercial counterparties, consumers and others with whom the Company and Brigit do business, (vii) the ability of the Company to successfully integrate Brigit’s operations over time, (viii) the ability of the Company to successfully implement its plans, forecasts and other expectations with respect to Brigit’s business after the closing and (ix) other risks and uncertainties inherent in a transaction of this size and nature, (2) the general strength of the economy and other economic conditions affecting consumer preferences, demand, payment behaviors and spending; (3) factors affecting the disposable income available to the Company's and Brigit’s current and potential customers; (4) the appeal of the Company’s and Brigit’s offerings to consumers; (5) the Company's and Brigit’s ability to protect their proprietary intellectual property; (6) the impact of the competitive environment in the Company’s and Brigit’s industries; (7) the Company's and Brigit’s ability to identify and successfully market products and services that appeal to their current and future targeted customer segments; (8) consumer preferences and perceptions of the Company's and Brigit’s brands; (9) the Company’s and Brigit’s compliance with applicable laws and regulations and the impact of active enforcement of those laws and regulations, including any changes with respect thereto or attempts to recharacterize their offerings as credit sales, (10) information technology and data security costs; (11) the impact of any breaches in data security or other disturbances to the Company's or Brigit’s information technology and other networks and the Company's and Brigit’s ability to protect the integrity and security of individually identifiable data of its customers and employees; and (12) the other risks detailed from time to time in the Company's SEC reports, including but not limited to, its Annual Report on Form 10-K for the year ended December 31, 2023 and in its subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Non-GAAP Financial Measures This release and the associated investor presentation and webcast contain certain financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles (GAAP), including (1) Adjusted EBITDA (net earnings before interest, taxes, stock-based compensation, depreciation and amortization, as adjusted for special items) on a consolidated and segment basis and (2) Net Leverage Ratio (total debt less unrestricted cash, divided by Adjusted EBITDA). “Special items” refers to certain gains and charges we view as extraordinary, unusual or non-recurring in nature or which we believe do not reflect our core business activities. Special items are reported as Other Gains and Charges in our Consolidated Statements of Operations. Because of the inherent uncertainty related to these special items, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measures or reconciliation to any forecasted GAAP measure without unreasonable effort. These non-GAAP measures are additional tools intended to assist our management in comparing our performance on a more consistent basis for purposes of business decision-making by removing the impact of certain items management believes do not directly reflect our core operations. These measures are intended to assist management in evaluating operating performance and liquidity, comparing performance and liquidity across periods, planning and forecasting future business operations, helping determine levels of operating and capital investments and identifying and assessing additional trends potentially impacting our Company that may not be shown solely by comparisons of GAAP measures. Consolidated Adjusted EBITDA is also used as part of our incentive compensation program for our executive officers and others. We believe these non-GAAP financial measures also provide supplemental information that is useful to investors, analysts and other external users of our consolidated financial statements in understanding our financial results and evaluating our performance and liquidity from period to period. However, non-GAAP financial measures have inherent limitations and are not substitutes for, or superior to, GAAP financial measures, and they should be read together with our consolidated financial statements prepared in accordance with GAAP. Further, because non-GAAP financial measures are not standardized, it may not be possible to compare such measures to the non-GAAP financial measures presented by other companies, even if they have the same or similar names. ______________________________ 1 Non-GAAP Financial Measure. See descriptions below in this release. Due to the inherent uncertainty related to the special items discussed under “Non-GAAP Financial Measures” below, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measure or reconciliation to any forecasted GAAP measure without unreasonable effort. 2 Assumes all Brigit’s cash advances since inception have assisted customers with avoiding overdraft fees at an estimated $34/overdraft. 3 Non-GAAP Financial Measure. See descriptions below in this release. Due to the inherent uncertainty related to the special items discussed under “Non-GAAP Financial Measures” below, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measure or reconciliation to any forecasted GAAP measure without unreasonable effort. 4 Non-GAAP Financial Measure. See descriptions below in this release. Due to the inherent uncertainty related to the special items discussed under “Non-GAAP Financial Measures” below, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measure or reconciliation to any forecasted GAAP measure without unreasonable effort. 5 Pro forma net leverage ratio (total debt less unrestricted cash, divided by Adjusted EBITDA) and pro forma available liquidity (estimated available borrowings under the company’s revolving credit facility and unrestricted cash) assume the acquisition of Brigit is completed March 31, 2025 and the Company makes the closing date cash payment at that time. Above metrics reflect the Company’s estimates and are not reflective of actual amounts or indicative of future results. View source version on businesswire.com : https://www.businesswire.com/news/home/20241212082702/en/ CONTACT: Investor Contact Jeff Chesnut SVP, Strategy & Corporate Development 972-801-1108 jeff.chesnut@upbound.comMedia Contacts Kelly Kimberly 713-822-7538 Kelly.kimberly@fgsglobal.com Leah Polito 212-687-8080 Leah.polito@fgsglobal.com KEYWORD: TEXAS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: APPS/APPLICATIONS TECHNOLOGY FINANCE FINTECH HEALTH TECHNOLOGY PROFESSIONAL SERVICES SOFTWARE HEALTH DATA MANAGEMENT SOURCE: Upbound Group, Inc. Copyright Business Wire 2024. PUB: 12/12/2024 05:00 PM/DISC: 12/12/2024 05:00 PM http://www.businesswire.com/news/home/20241212082702/en
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