Exeter Finance To Be Acquired By Warburg Pincus From Blackstone For Undisclosed Term – Quick Facts

Indirect auto finance company Exeter Finance LLC announced Monday that it has entered into a definitive agreement to be acquired by an investor group led by Warburg Pincus from funds managed by Blackstone (BX). Terms of the private transaction were not disclosed.

Exeter is a rapidly growing tech-enabled indirect auto lender, with a managed loan portfolio of more than $7 billion

The investment will help accelerate the growth and development of innovative, tech-enabled auto financing solutions.

Warburg Pincus is a long-time, active investor in the auto industry across a variety of verticals including auto lenders, rental car providers, e-commerce distribution, and software platforms.

The transaction is expected to close by the end of 2021 and is subject to customary closing conditions. Jason Grubb will remain as CEO and a meaningful investor in the company, alongside the current Exeter management team.

QAD Inc. To Be Acquired By Private Equity Firm Thoma Bravo For $2 Bln In Cash – Quick Facts

QAD Inc. (QADA,QADB), cloud-based manufacturing and supply chain solutions provider, announced Monday that it has entered into a definitive agreement to be acquired by private equity firm Thoma Bravo, in an all-cash transaction with an equity value of approximately $2 billion.

Under the terms of the agreement, QAD shareholders will receive $87.50 per share of Class A Common Stock or Class B Common Stock in cash.

Upon completion of the transaction, QAD will become a private company with the flexibility to continue investing in the development and deployment of Enterprise Resource Planning (ERP) software and related enterprise software for manufacturing companies around the world.

Anton Chilton will continue to lead QAD as CEO, and the Company will maintain its headquarters in Santa Barbara, California.

The transaction is expected to close in the fourth quarter of 2021, subject to the satisfaction of customary closing conditions, including the approval of owners of the majority of QAD shares not held by Lopker, her affiliates and other directors and officers of the Company.

Following closing of the transaction, Ms. Lopker intends to retain a significant ownership interest in the Company and will continue to serve on the QAD Board.

Syndax’s SNDX-5613 Gets FDA Fast Track Designation To Treat Relapsed/Refractory Acute Leukemias

Syndax Pharmaceuticals, Inc. (SNDX), a clinical stage biopharmaceutical company focused on cancer therapies, announced Monday that the U.S. Food and Drug Administration has granted Fast Track Designation or FTD to SNDX-5613 to treat relapsed/refractory acute leukemias.

In pre-market activity on Nasdaq, Syndax shares were gaining around 9 percent to trade at $19.99.

The FTD is given for the treatment of adult and pediatric patients with relapsed or refractory acute leukemias harboring a mixed lineage leukemia rearranged or MLLr or nucleophosmin or NPM1 mutation. SNDX-5613 is the company’s highly selective, oral menin inhibitor.

The FDA grants FTD to facilitate the development and expedite the review of drugs to treat serious conditions and fulfill an unmet medical need, enabling drugs to reach patients earlier. These clinical programs may also be eligible to apply for Accelerated Approval and Priority Review if relevant criteria are met.

Briggs Morrison, Chief Executive Officer of Syndax, said, “Genetically-defined acute leukemias represent an underserved area marked by particularly poor prognosis and limited therapeutic options. As we move toward initiating our pivotal study, receipt of FTD from the FDA underscores SNDX-5613’s potential to meaningfully improve outcomes for patients with MLLr and NPM1 mutant acute leukemias.”

Surfer gets attacked by great white shark near San Francisco

A surfer was attacked by a great white shark Saturday at the Gray Whale Cove State Beach close to San Francisco.  

The 35-year-old man was able to make it back to shore, where "advanced life support measures" were applied, according to the Santa Cruz County Fire Department.  

He was transported to a local hospital, where he has since been released, according to ABC7, which cited officials.  

The San Mateo County Sheriff's Office said the shark was an estimated 6 to 8 feet long. 

“He was surfing. So, he was relatively close to the shore and he was out surfing and a great white just took one bite out of him and released him,” said Brian Ham, Cal Fire's battalion chief, to NBC Bay Area.

“It was only one bite and there were about 10 lacerations to the back of the right thigh,” Ham told CBS5.

Shawarma, Shawarma, Shawarma!

By Sam Sifton

Good morning. Air fryers, Instant Pots, sous vide machines, I’ve tried them all. With the exception of the air fryer, which I think is just a big toaster oven with a fan in it, I’m agnostic about their worth. If you use them, great. But I’ve seen a lot of kitchens where they sit, dusty and unused, in a cabinet alongside the pasta machine. When it comes to gadgets, I’m happy with a food processor, a stand mixer, my stove.

FIGS Shares Up 5%

Shares of FIGS Inc. (FIGS) are currently trading at $45.68, up $2.22 or 5.11%, with trading volume rising over 398K versus an average volume of 2.15 million shares. The stock has been trading in the range of $28.25 – $49.74 for the past one year.

Earlier this month, the healthcare apparel company announced the closing of its initial public offering of 30,344,317 shares of its Class A common stock, including the full exercise of the underwriters’ option to purchase an additional 3,957,954 shares of Class A common stock, at a price to the public of $22.00 per share.

The shares began trading on the New York Stock Exchange on May 27, 2021 under the ticker symbol “FIGS.”