Puerto Rico to receive about $4 billion in federal education pandemic relief funds

(Reuters) – The U.S. Education Department said on Monday that Puerto Rico will receive about $4 billion in federal education pandemic relief funds to help boost its fight against COVID-19.

The additional funds available as of Monday include $2 billion from the American Rescue Plan Act; $1.2 billion from the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSA); and $662 million in FY 2020 program grants, the Education Department said in a statement.

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SentinelOne Expects To Price IPO In $31.00 – $32.00/shr Range

SentinelOne Inc. expects to price its initial public offering of 32 million shares of its Class A common stock in the range of $31.00 and $32.00 per share.

The company has applied to list its Class A common stock on the New York Stock Exchange under the symbol “S.”

SentinelOne is an American cybersecurity startup based out of Mountain View, California. The company was founded in 2013.

Tomer Weingarten, co-founder, the Chairman of Board of Directors, President, and Chief Executive Officer, on the one hand, and Almog Cohen, co-founder and former director, on the other hand, have entered into a voting agreement, or the Co-Founder Voting Agreement, to be effective as of the closing of this offering.

The company said it primarily plans to use the net proceeds from this offering and the private placement for working capital and other general corporate purposes. We may also use a portion of the proceeds for the acquisition of, or investment in, technologies, solutions, or businesses that complement business.

Honda to reveal electric SUV called the Prologue: 2024 model developed with GM

Honda announced Monday that it will introduce an electric SUV called the Prologue, marking the automaker’s first attempt to sell an EV in high volume as it pivots away from gasoline-powered cars.

The launch is part of Honda’s recently announced plan to switch to all zero-emission vehicles in North America by 2040, including battery-electric cars and hydrogen vehicles.

“Our zero-emission focus has begun,” Dave Gardner, executive vice president of American Honda, said on a conference call.

When the Prologue arrives in 2024, the company expects U.S. sales of the new vehicle to reach the levels of two of its most popular SUVs, the Passport and Pilot.

Gardner said the 2024 Prologue is being developed in partnership with General Motors, whose battery system will be used on the vehicle. The two automakers have been closely collaborating on several projects.

The automaker declined to reveal any details about the vehicle’s price, technical specifications or appearance.

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So-Young Int’l To Acquire Controlling Interest In Wuhan Miracle Laser Systems – Quick Facts

So-Young International Inc. (SY) announced Monday that it has entered into definitive agreements with Wuhan Miracle Laser Systems, Inc. and shareholders of Wuhan Zeqi Technology Co., Ltd., a shareholder of Wuhan Miracle, to acquire controlling interest in Wuhan Miracle for a total consideration of RMB 791 million.

The closing of the transaction is subject to customary closing conditions and is currently expected to occur in the third quarter of 2021.

The strategic investment in Wuhan Miracle will enable So-Young to continue to seize the opportunities of the medical aesthetics industry and bring greater returns to shareholders.

JBT To Buy Food Safety Technology Provider Prevenio In $170 Mln Deal

JBT Corp.(JBT), a solutions provider to food and beverage industry, announced Monday that it signed a definitive agreement to acquire Prevenio, a provider of food safety solutions primarily for the poultry industry.

The agreed purchase price is $170 million, before customary post-closing adjustments. The transaction is expected to close early in the third quarter.

Prevenio expects run rate annual revenue at the end of 2021 of approximately $50 million with EBITDA margins accretive to JBT FoodTech’s Adjusted EBITDA margins.

The deal is expected to have a minimal impact to GAAP earnings per share, and be accretive to adjusted earnings per share by approximately $0.03 in 2021. In 2022, Prevenio is expected to be accretive to GAAP and adjusted earnings per share by approximately $0.10.

New Jersey -based Prevenio, formerly known as CMS Technology, provides highly effective pathogen protection through its anti-microbial delivery solution.

JBT expects the acquisition of Prevenio will enhance its recurring revenue portfolio and furthers its investment in solutions that support its customers’ daily operations.

Brian Deck, JBT’s President and Chief Executive Officer, said, “JBT’s investment in Prevenio furthers our support in the protection of our customers’ brands and reputation by focusing on the prevention of foodborne illness. Prevenio’s solutions ensure anti-microbial dosing precision and effectiveness with automated process controls, allowing it to provide a tailored approach to protect food and flavor profile.”