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ATLANTA , Dec. 12, 2024 /PRNewswire/ -- Cousins Properties Incorporated (the "Company" or "Cousins") (NYSE:CUZ) announced today that its operating partnership, Cousins Properties LP (the "Operating Partnership"), has priced an offering of $400 million aggregate principal amount of 5.375% senior unsecured notes due 2032 at 99.463% of the principal amount. The offering is expected to close on December 17, 2024 , subject to the satisfaction of customary closing conditions. Cousins intends to use the net proceeds from the offering to fund a portion of the purchase price of 601 West 2nd Street, also known as Sail Tower, an 804,000 square foot trophy lifestyle office property in Austin (the "Sail Tower Acquisition"), and the remainder to repay borrowings under its credit facility and for general corporate purposes. In the event the Sail Tower Acquisition is not completed, Cousins will use the net proceeds from the offering for general corporate purposes, including the acquisition and development of office properties, other opportunistic investments and the repayment of debt. The notes will be fully and unconditionally guaranteed on a senior unsecured basis by the Company. J.P. Morgan, Truist Securities, US Bancorp, BofA Securities, Morgan Stanley, PNC Capital Markets LLC, TD Securities and Wells Fargo Securities are acting as joint book-running managers. A shelf registration statement relating to these securities is effective with the Securities and Exchange Commission. The offering may be made only by means of a prospectus supplement and accompanying prospectus. Copies of these documents may be obtained by contacting J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York , 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, telephone collect at 1-212-834-4533; Truist Securities, Inc., Attention: Prospectus Department, 303 Peachtree Street, Atlanta, GA 30308, telephone: 800-685-4786, or e-mail: TruistSecurities.prospectus@Truist.com ; or U.S. Bancorp Investments, Inc., Attention: High Grade Syndicate, 214 North Tryon Street, 26th Floor, Charlotte, NC 28202, or by telephone at: (877) 558-2607. Electronic copies of these documents are also available from the Securities and Exchange Commission's website at www.sec.gov . This press release is neither an offer to purchase nor a solicitation of an offer to sell the notes, nor shall it constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale is unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Cousins Properties Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust ("REIT"). The Company, based in Atlanta, GA and acting through the Operating Partnership, primarily invests in Class A office buildings located in high growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing, and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets, and opportunistic investments. Forward-Looking Statements Certain matters contained in this press release are "forward-looking statements" within the meaning of the federal securities laws and are subject to uncertainties and risks, as itemized in Item 1A included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and in the Company's Quarterly Reports on Form 10-Q for the quarters ended June 30, 2024 and September 30, 2024 . These forward-looking statements include information about the Company's possible or assumed future results of the business and the Company's financial condition, liquidity, results of operations, plans, and objectives. They also include, among other things, statements regarding subjects that are forward-looking by their nature, such as: guidance and underlying assumptions; business and financial strategy; future debt financings; future acquisitions and dispositions of operating assets or joint venture interests; future acquisitions and dispositions of land, including ground leases; future acquisitions of investments in real estate debt; future development and redevelopment opportunities; future issuances and repurchases of common stock, limited partnership units, or preferred stock; future distributions; projected capital expenditures; market and industry trends; future occupancy or volume and velocity of leasing activity; entry into new markets, changes in existing market concentrations, or exits from existing markets; future changes in interest rates and liquidity of capital markets; and all statements that address operating performance, events, investments, or developments that we expect or anticipate will occur in the future — including statements relating to creating value for stockholders. Any forward-looking statements are based upon management's beliefs, assumptions, and expectations of our future performance, taking into account information that is currently available. These beliefs, assumptions, and expectations may change as a result of possible events or factors, not all of which are known. If a change occurs, our business, financial condition, liquidity, and results of operations may vary materially from those expressed in forward-looking statements. Actual results may vary from forward-looking statements due to, but not limited to, the following: the availability and terms of capital and our ability to obtain and maintain financing arrangements on terms favorable to us or at all; the ability to refinance or repay indebtedness as it matures; any changes to our credit rating; the failure of purchase, sale, or other contracts to ultimately close; the failure to achieve anticipated benefits from acquisitions, developments, investments, or dispositions; the effect of common stock or operating partnership unit issuances, including those undertaken on a forward basis, which may negatively affect the market price of our common stock; the availability of buyers and pricing with respect to the disposition of assets; changes in national and local economic conditions, the real estate industry, and the commercial real estate markets in which we operate (including supply and demand changes), particularly in Atlanta , Austin , Tampa , Charlotte , Phoenix , Dallas , and Nashville , including the impact of high unemployment, volatility in the public equity and debt markets, and international economic and other conditions; threatened terrorist attacks or sociopolitical unrest such as political instability, civil unrest, armed hostilities, or political activism, which may result in a disruption of day-to-day building operations; changes to our strategy in regard to our real estate assets may require impairment to be recognized; leasing risks, including the ability to obtain new tenants or renew expiring tenants, the ability to lease newly-developed and/or recently acquired space, the failure of a tenant to commence or complete tenant improvements on schedule or to occupy leased space, and the risk of declining leasing rates; changes in the preferences of our tenants brought about by the desire for co-working arrangements, trends toward utilizing less office space per employee, and the effect of employees working remotely; any adverse change in the financial condition or liquidity of one or more of our tenants or borrowers under our real estate debt investments; volatility in interest rates (including the impact upon the effectiveness of forward interest rate contract arrangements) and insurance rates; inflation; competition from other developers or investors; the risks associated with real estate developments (such as zoning approval, receipt of required permits, construction delays, cost overruns, and leasing risk); supply chain disruptions, labor shortages, and increased construction costs; risks associated with security breaches through cyberattacks, cyber intrusions or otherwise, as well as other significant disruptions of our information technology networks and related systems, which support our operations and our buildings; changes in senior management, changes in the Company's board of directors, and the loss of key personnel; the potential liability for uninsured losses, condemnation, or environmental issues; the potential liability for a failure to meet regulatory requirements, including the Americans with Disabilities Act and similar laws or the impact of any investigation regarding the same; the financial condition and liquidity of, or disputes with, joint venture partners; any failure to comply with debt covenants under debt instruments and credit agreements; any failure to continue to qualify for taxation as a real estate investment trust or meet regulatory requirements; potential changes to state, local, or federal regulations applicable to our business; material changes in dividend rates on common shares or other securities or the ability to pay those dividends; potential changes to the tax laws impacting real estate investment trusts and real estate in general; risks associated with climate change and severe weather events, as well as the regulatory efforts intended to reduce the effects of climate changes and investor and public perception of our efforts to respond to the same; the impact of newly adopted accounting principles on our accounting policies and on period-to-period comparisons of financial results; risks associated with possible federal, state, local, or property tax audits; and those additional risks and environmental or other factors discussed in reports filed with the Securities and Exchange Commission by the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company cannot guarantee the accuracy of any such forward-looking statements contained in this press release, and the Company does not intend to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Contacts Roni Imbeaux Vice President, Finance and Investor Relations 404-407-1104 rimbeaux@cousins.com View original content: https://www.prnewswire.com/news-releases/cousins-properties-announces-pricing-of-senior-notes-offering-302330787.html SOURCE Cousins PropertiesTOMS RIVER, N.J. — A U.S. senator has called for mysterious drones spotted flying at night over sensitive areas in New Jersey and other parts of the Mid-Atlantic region to be “shot down, if necessary,” even as it remains unclear who owns the unmanned aircraft. “We should be doing some very urgent intelligence analysis and take them out of the skies, especially if they’re flying over airports or military bases,” Sen. Richard Blumenthal of Connecticut said Thursday, as concerns about the drones spread across Capitol Hill. People in the New York region are also concerned that the drones may be sharing airspace with commercial airlines, he said, demanding more transparency from the Biden administration. The White House said Thursday that a review of the reported sightings shows that many of them are actually manned aircraft being flown lawfully. White House National Security spokesman John Kirby said there were no reported sightings in any restricted airspace. He said the U.S. Coast Guard has not uncovered any foreign involvement from coastal vessels. “We have no evidence at this time that the reported drone sightings pose a national security or a public safety threat, or have a foreign nexus,” Kirby said, echoing statements from the Pentagon and New Jersey Gov. Phil Murphy. Pentagon spokesperson Sabrina Singh has said they are not U.S. military drones. In a joint statement issued Thursday afternoon, the FBI and the Department of Homeland Security said they and their federal partners, in close coordination with the New Jersey State Police, “continue to deploy personnel and technology to investigate this situation and confirm whether the reported drone flights are actually drones or are instead manned aircraft or otherwise inaccurate sightings.” The agencies said they have not corroborated any of the reported sightings with electronic detection, and that reviews of available images appear to show many of the reported drones are actually manned aircraft. “There are no reported or confirmed drone sightings in any restricted air space,” according to the statement. The drones appear to avoid detection by traditional methods such as helicopter and radio, according to a state lawmaker briefed Wednesday by the Department of Homeland Security. The number of sightings has increased in recent days, though officials say many of the objects seen may have been planes rather than drones. It’s also possible that a single drone has been reported more than once. The worry stems partly from the flying objects initially being spotted near the Picatinny Arsenal, a U.S. military research and manufacturing facility, and over President-elect Donald Trump’s golf course in Bedminster. In a post on the social media platform X, Assemblywoman Dawn Fantasia described the drones as up to 6 feet (1.8 meters) in diameter and sometimes traveling with their lights switched off. Drones are legal in New Jersey for recreational and commercial use but are subject to local and Federal Aviation Administration regulations and flight restrictions. Operators must be FAA certified. Most, but not all, of the drones spotted in New Jersey appeared to be larger than those typically used by hobbyists. Sen. Cory Booker of New Jersey said he was frustrated by the lack of transparency, saying it could help spread fear and misinformation. “We should know what’s going on over our skies,” he said Thursday. John Duesler, president of the Pennsylvania Drone Association, said witnesses may be confused about what they are seeing, especially in the dark, and noted it’s hard to know the size of the drones or how close they might be. “There are certainly big drones, such as agricultural drones, but typically they are not the type you see flying around in urban or suburban spaces,” Duesler said Thursday. Duesler said the drones — and those flying them — likely cannot evade detection. “They will leave a radio frequency footprint, they all leave a signature,” he said. “We will find out what kind of drones they were, who was flying them and where they were flying them.” Fantasia, a Morris County Republican, was among several lawmakers who met with state police and Homeland Security officials to discuss the sightings from the New York City area across New Jersey and westward into parts of Pennsylvania, including over Philadelphia. It is unknown at this time whether the sightings are related. Duesler said the public wants to know what’s going on. “I hope (the government agencies) will come out with more information about this to ease our fears. But this could just be the acts of rogue drone operators, it’s not an ‘invasion’ as some reports have called it,” Duesler said. “I am concerned about this it but not alarmed by it.”https www haha777 love promotions



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Cousins Properties Announces Pricing of Senior Notes Offering- Enhanced liquidity through issuance of Second Lien Notes - Obtained amendment to credit agreement and extended note payable - Fourth quarter fiscal 2024 revenue down 7.3% to $130.4 million - Full year fiscal 2024 revenue down 14.3% to $490.7 million - Conference call begins today at 4:30 pm ET WEST LAFAYETTE, Ind., Dec. 03, 2024 (GLOBE NEWSWIRE) -- Inotiv, Inc. (Nasdaq: NOTV) (the "Company”), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, today announced financial results for the three months ("Q4 FY 2024”) and twelve months ("FY 2024") ended September 30, 2024. Revenue by Segment (in millions of USD) September 30, change September 30, change Robert Leasure Jr., President and Chief Executive Officer, commented, "The fourth quarter was productive for Inotiv, including completing previously announced site optimization plans, some recovery of NHP sales with existing and new customers, raising capital and amending our credit agreement. Going forward, we are planning further integration and cost reduction initiatives, we will continue to focus on improving the customer experience, and we will continue to evaluate opportunities to improve our balance sheet. We look forward to seeing results from initiatives we have implemented during the last two years. Moreover, addressing the challenges we have faced over the past two years has made many aspects of our business stronger. "Overall, with the exception of the volatility we saw in the NHP business in 2024, we have seen financial improvements in some other aspects of our business. In addition to improving our financial performance, our goals for 2025 include reducing volatility in our NHP business and a continued focus on the customer, compliance and animal welfare. We will continue our customer-driven strategy that has a strong scientific foundation and fuels innovation as One Inotiv. We've grown stronger, adding key partners and building new services and products that have expanded our scientific expertise, services, and offerings. By integrating these efforts over the last two years, we're streamlining our systems and processes to create a more unified customer driven approach across our global footprint." Highlights Q4 FY 2024 Highlights 2 "Q3 FY 2024" refers to the three months ended June 30, 2024. Operational and Capital Resources Highlights Revenue decreased 7.3% to $130.4 million in Q4 FY 2024 as compared to $140.7 million in Q4 FY 2023. The lower total revenue in the fourth quarter was driven by a $5.6 million decrease in DSA revenue and a $4.7 million decrease in RMS revenue. DSA revenues decreased primarily due to a decrease in safety assessment services of $3.4 million, which was primarily due to decreased revenue from general toxicology services as a result of a change in the mix of studies conducted, and a decrease in discovery service revenue of $2.0 million as a result of the decline in overall biotech activity in the market. The decrease in RMS revenue was due to the lower non-human primate ("NHP") related product and service revenue of $1.6 million mainly as a result of lower pricing for NHPs. Additionally, in Q4 FY 2024, there was a decrease of $1.7 million in RMS revenue as a result of the sale of our Israeli businesses in Q4 FY 2023. The remaining decrease in RMS revenue in Q4 FY 2024 was primarily due to a decline in small animal model sales. Operating loss was $13.2 million in Q4 FY 2024 as compared to operating income of $2.5 million in Q4 FY 2023. RMS operating income decreased by $10.7 million, or 91.1%, driven by the decrease in revenue discussed above and an increase in cost of revenue of $6.8 million. The increased RMS cost of revenue was primarily due to increased costs associated with NHP-related product and service revenue of $10.4 million, partially offset by decreases from the impact of the sale of our Israeli business of $1.2 million, as well as decreases in restructuring costs, transportation costs and costs related to sites closed in connection with our optimization plan. DSA operating income decreased by $4.8 million, or 71.5%, primarily due to the decrease in revenue noted above. Full Year Fiscal 2024 Financial Results (Twelve Months Ended September 30, 2024) Revenue decreased 14.3% to $490.7 million in FY 2024 as compared to $572.4 million in FY 2023. The lower total revenue in FY 2024 was primarily driven by a $76.7 million decrease in RMS revenue and a decrease in DSA revenue of $5.0 million. The decrease in RMS revenue was due primarily to the negative impact of lower NHP sales of $60.4 million. Additionally, there was a decrease of $10.6 million in RMS revenue as a result of the sale of our Israeli businesses in the fourth quarter of fiscal 2023. The remaining decrease in RMS revenue in FY 2024 was due primarily to decreases in small animal model sales and RMS services in the U.S., partially offset by an increase in diet, bedding and enrichment product sales and an increase in small animal model sales outside of the U.S. and RMS services outside of the U.S. The decrease in DSA revenue in FY 2024 was primarily driven by a $5.0 million decrease in discovery services revenue as a result of the decline in overall biotech activity in the market. Operating loss was $86.4 million in FY 2024 as compared to $81.5 million in FY 2023. The higher total operating loss in FY 2024 was due to an increase in RMS operating loss of $7.0 million and a decrease in DSA operating income of $6.5 million, partially offset by a decrease in unallocated corporate expenses of $8.6 million. The increase in RMS operating loss was primarily driven by the negative margin impact resulting from the decrease in RMS revenue noted above and included the $28.5 million charge incurred during FY 2024 related to the Resolution Agreement and Plea Agreement, partially offset by the $66.4 million non-cash goodwill impairment charge related to our RMS segment in FY 2023 that did not recur in FY 2024. DSA operating income decreased primarily due to the decreased revenue noted above. Unallocated corporate expenses decreased primarily due to decreases in professional fees, acquisition and integration costs, stock compensation expense and compensation and benefits expense, partially offset by an increase in information technology expenses. Cash and cash equivalents of $21.4 million at September 30, 2024, compares to $35.5 million at September 30, 2023. Cash used by operating activities was $6.8 million for FY 2024, which included payments of $6.5 million related to the Resolution Agreement and the Plea Agreement, compared to cash provided by operating activities of $27.9 million for FY 2023. For FY 2024, capital expenditures totaled $22.3 million compared to $27.5 million for FY 2023. Total debt, net of debt issuance costs, as of September 30, 2024, was $393.3 million. As of September 30, 2024, there were no borrowings on the Company's $15.0 million revolving credit facility. Webcast and Conference Call Management will host a conference call on Tuesday, December 3, 2024, at 4:30 pm ET to discuss fourth quarter and full year fiscal 2024 results. Interested parties may participate in the call by dialing: https://viavid.webcasts.com/starthere.jsp?ei=1697836&tp_key=5c08e65813 For those who cannot listen to the live broadcast, an online replay will be available in the Investors section of Inotiv's web site at: https://ir.inotiv.com/events-and-presentations/default.aspx . Note on Non-GAAP Financial Measures This press release contains financial measures that are not calculated in accordance with generally accepted accounting principles in the United States (GAAP), including Adjusted EBITDA and Adjusted EBITDA as a percentage of total revenue for the three and twelve months ended September 30, 2024 and 2023 and selected business segment information for those periods. Adjusted EBITDA as reported herein refers to a financial measure that excludes from consolidated net loss, statements of operations line items interest expense and income tax benefit/provision, as well as non-cash charges for depreciation and amortization of intangible assets, stock compensation expense, acquisition and integration costs, startup costs, restructuring costs, unrealized foreign exchange (gain) loss, amortization of inventory step up, (gain) loss on disposition of assets, other unusual, third party costs, the charge in connection with the Resolution and Plea Agreements, gain on sale of subsidiary, gain on extinguishment of debt, and goodwill impairment loss. The adjusted business segment information excludes from operating loss and unallocated corporate operating expenses for these same expenses. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in this press release. The Company believes that these non-GAAP measures provide useful information to investors. Among other things, they may help investors evaluate the Company's ongoing operations. They can assist in making meaningful period-over-period comparisons and in identifying operating trends that would otherwise be masked or distorted by the items subject to the adjustments. Management uses these non-GAAP measures internally to evaluate the performance of the business, including to allocate resources. Investors should consider these non-GAAP measures as supplemental and in addition to, not as a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. Management has chosen to provide this supplemental information to investors, analysts, and other interested parties to enable them to perform additional analyses of our results and to illustrate our results giving effect to the non-GAAP adjustments. Management strongly encourages investors to review the Company's condensed consolidated financial statements and publicly filed reports in their entirety and cautions investors that the non-GAAP measures used by the Company may differ from similar measures used by other companies, even when similar terms are used to identify such measures. About the Company Inotiv, Inc. is a leading contract research organization dedicated to providing nonclinical and analytical drug discovery and development services and research models and related products and services. The Company's products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development, all while increasing efficiency, improving data, and reducing the cost of taking new drugs and medical devices to market. Inotiv is committed to supporting discovery and development objectives as well as helping researchers realize the full potential of their critical research and development projects, all while working together to build a healthier and safer world. Further information about Inotiv can be found here: https://www.inotiv.com/ . This release contains forward-looking statements that are subject to risks and uncertainties including, but not limited to, statements regarding our intent, belief or current expectations with respect to ( i) our strategic plans; (ii) trends in the demand for our services and products; (iii) trends in the industries that consume our services and products; (iv) market and company-specific impacts of NHP supply and demand matters; (v) compliance with the Resolution Agreement and Plea Agreement and the expected impacts on the Company related to the compliance plan and compliance monitor, and the expected amounts, timing and expense treatment of cash payments and other investments thereunder; (vi) our ability to service our outstanding indebtedness and to comply or regain compliance with financial covenants, including those established by the Seventh Amendment to our Credit Agreement; (vii) our current and forecasted cash position; (viii) our ability to make capital expenditures, fund our operations and satisfy our obligations; (ix) our ability to manage recurring and unusual costs; (x) our ability to realize the expected benefits related to our restructuring and site optimization plans; (xi) our expectations regarding the volume of new bookings, pricing, operating income or losses and liquidity; (xii) our ability to effectively fill the recent expanded capacity or any future expansion or acquisition initiatives undertaken by us; (xiii) our ability to develop and build infrastructure and teams to manage growth and projects; (xiv) our ability to continue to retain and hire key talent; (xv) our ability to market our services and products under our corporate name and relevant brand names; (xvi) our ability to develop new services and products; (xvii) our ability to negotiate amendments to the Credit Agreement or obtain waivers related to the financial covenants defined within the Credit Agreement, including those detailed in the Company's filings with the U.S. Securities and Exchange Commission. Further discussion of these risks, uncertainties, and other matters can be found in the Risk Factors detailed in our Annual Report on Form 10-K as filed on December 12, 2023, as well as other filings we make with the Securities and Exchange Commission. CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited) September 30, September 30,

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