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On December 7, 2020, Servotronics, Inc. filed a petition for writ of certiorari asking the United States Supreme Court to decide whether parties may seek discovery in the United States for use in commercial arbitration proceedings seated outside the United States under 28 U.S.C. § 1782 (“Section 1782”), a vigorously debated question that has increasingly divided lower courts.
Under Section 1782, a petitioner may obtain evidence through U.S. federal district courts for use in a proceeding before a “foreign or international tribunal.” Importantly, Section 1782 does not define what qualifies as a “foreign or international tribunal.” Federal courts are increasingly divided on whether the definition includes private commercial arbitral tribunals.
AST & Science LLC to Become Public Company Through Combination with New Providence Acquisition Corp. (NASDAQ: NPA, NPAUU and NPAWW)
- AST & Science LLC ( AST SpaceMobile ) is building the first and only space-based cellular broadband network accessible directly by standard mobile phones
- AST SpaceMobile to become publicly listed through a business combination with New Providence Acquisition Corp. (NASDAQ: NPA, NPAUU and NPAWW)
- Combined company to have an estimated post-transaction enterprise value of $1.4 billion and will become listed on the NASDAQ under the ticker symbol ASTS following expected transaction close in the first quarter of 2021
- Transaction to provide up to $462 million in gross proceeds, comprised of New Providence Acquisition Corp. s $232 million of cash held in trust (assuming no redemptions) and a $230 million fully committed common stock PIPE at $10.00 per share, including investments from Rakuten, Vodafone, American Tower, UBS O Connor and a broad base
Posted on 554
Blackstone (NYSE: BX) today announced that Blackstone Property Partners Life Sciences (“BPPLS”) will acquire a best‐in‐class, 2.3 million square foot portfolio of lab office buildings from a Brookfield Asset Management real estate fund for $3.45 billion. BPPLS is Blackstone Real Estate’s long-term, perpetual capital, core+ return life sciences strategy that owns BioMed Realty, Blackstone’s life science real estate portfolio company. The transaction is expected to close in the first quarter of 2021 subject to customary closing conditions.
Approximately 90% of the portfolio being acquired is concentrated in Cambridge, Massachusetts. Following the completion of the transaction, Blackstone will become the largest life science office owner in Cambridge, and BioMed Realty, which will have an enterprise value of approximately $20 billion, will have two-thirds of its platform concentrated in the Boston
Item 8.01 Other Events.
On December 1, 2020, Virginia Electric and Power Company (the Company) entered into an underwriting agreement (the Underwriting Agreement) with BofA Securities, Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc. and TD Securities (USA) LLC, as Representatives for the underwriters named in the Underwriting Agreement, for the sale of $900,000,000 aggregate principal amount of the Company s 2020 Series A 2.45% Senior Notes due 2050 (the Senior Notes). The Senior Notes are Senior Debt Securities that were registered by the Company under Rule 415 under the Securities Act of 1933, as amended, pursuant to a registration statement on Form S-3, which became effective on June 26, 2020 (File No. 333-239472).A copy of the Underwriting Agreement, including exhibits thereto, is filed as Exhibit 1.1 to this Form 8-K.
Synopsis
While limited in its impact, the additional guidance could provide more clarity on what conditions would eventually prompt the Fed to increase or decrease the pace of bond purchases.
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By Christopher Condon and Sarina Yoo
Federal Reserve officials this week will link the future of asset purchases to measures of employment and inflation without taking any immediate action to alter the pace or composition of bond buying, according to economists surveyed by Bloomberg News.
A slight majority of the 47 respondents to a Dec. 4-10 questionnaire said they expected the new guidance will be approved at the two-day policy meeting ending Wednesday, while most of the remaining analysts expect it in January or March.