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Kryton International Urges Durable Concrete Standards as Data Centers Face Mounting Infrastructure Risks

The Hoyt Organization

As the demand for high-performance data centers surges around the world, Kryton International, the global leader in waterproofing and durability solutions for concrete, is calling attention to a growing threat to uptime and asset longevity: concrete degradation. With operators increasingly adopting robotics and automation within their facilities, the need for ultra-durable, waterproof concrete is no longer optional — it’s critical. According to Forbes, the average cost of a data center outage has soared to over $9,000 per minute, with some incidents exceeding $1 million per hour. Seemingly minor infrastructure failures — such as a hairline crack in a concrete slab that leads to water ingress — can escalate rapidly, damaging sensitive servers and power infrastructure. Even small leaks that do not fully penetrate can corrode the internal steel rebar and trigger a full collapse of concrete walls, cable trays, raised floors, power conduits, or cooling lines. “Concrete is often treated as a static component of a data center, but in reality, it is a dynamic and vulnerable part of the facility,” said Kari Yuers, President & CEO of Kryton International. “Traditional concrete is prone to microcracking, water penetration, and abrasion — all of which can lead to costly damage, downtime, and reputational risk for operators.” This risk is amplified by the massive volumes of water used to cool today’s data centers. Many large facilities use millions of gallons of water daily to regulate temperature — Google alone reported using over 5 billion gallons of water across its U.S. data centers in 2022. As cooling systems circulate water through and around concrete infrastructure, the potential for seepage and structural degradation grows — especially when relying on outdated or inadequately treated concrete. Additionally, the implementation of robotics to handle racks within the facility – an increasingly more common practice within the data center industry – subjects the concrete to abrasion from wheeled traffic cycles. Kryton’s Krystol Internal Membrane™ (KIM®) and Hard-Cem® admixtures provide industry-leading protection by making concrete self-sealing, waterproof, and resistant to abrasion — even under the heavy loads and constant movement associated with robotic systems. “Data centers are expanding to handle the processing power of AI systems, and the modern, high-efficiency warehouses are increasingly being driven by robotics,” said Yuers. “That shift demands a new standard in concrete performance — one that resists not just time, but moisture and abrasion.” The need is growing as hyperscale and edge data centers expand into regions with high water tables, such as Texas and the Southern U.S.; seismic activity; or wide seasonal temperature swings — all of which increase the risk of concrete deterioration. Once a water leak occurs, not only is there potential damage to electronics, but entire operations may grind to a halt for remediation and equipment replacement. By integrating Kryton's innovative admixtures at the time of construction, operators can avoid costly shutdowns, eliminate reliance on external waterproofing membranes, and ensure long-term operational resilience. Key Advantages of Advanced Concrete Solutions in Data Centers: Moisture Protection: Waterproof concrete helps eliminate the risk of seepage and moisture migration through floors and below-grade walls, which is especially vital in facilities with raised floors or sensitive power and cooling infrastructure. Long-Term Integrity: Abrasion-resistant concrete stands up to the high traffic and mechanical wear caused by heavy equipment, maintenance operations, and cable tray installations—ensuring longevity without the need for frequent repairs. Energy and Cost Efficiency: By mitigating risks of structural damage, corrosion, and mold growth, advanced concrete formulations reduce the need for costly repairs, operational disruptions, and energy losses from compromised insulation systems. For more information about Kryton’s concrete durability solutions for mission-critical infrastructure, visit www.kryton.com. ABOUT KRYTON Kryton International Inc. is the inventor of the crystalline waterproofing admixture and has been waterproofing concrete structures with its proprietary KrystolÂ® technology since 1973. Kryton has won awards for innovation, manufacturing, best place to work, and entrepreneurship. Kryton is an active member of the American Concrete Institute, International Concrete Repair Institute, American Shotcrete Association, and many other thought-leading organizations. Kryton exports its products to more than 50 countries globally. www.kryton.com Contact Details Kryton International Andrew King +1 914-513-6895 aking@hoytorg.com Company Website https://www.kryton.com/

June 10, 2025 09:00 AM Pacific Daylight Time

Clarion Partners Welcomes MEI Industrial Solutions to the Tahoe Reno Industrial Center

Clarion Partners

New York, NY – May 29, 2025 – Clarion Partners, LLC, a leading real estate investment manager, welcomes MEI Industrial Solutions (“MEI”) to 500 Denmark Drive, a newly constructed 322,000-square-foot Class A building located within the Tahoe Reno Industrial Center (“TRIC”). MEI Industrial Solutions (formerly MEI Rigging & Crating) is a leading provider of rigging, machinery moving, industrial storage, millwrighting, crating, export packing services, and specialized transportation services across the nation. The company has leased 161,200 sq. ft. of space, representing approximately half of the building. 500 Denmark is part of a larger development of over 1 million square feet of Class A warehouses at the TRIC, considered to be one of the largest industrial parks in the world. “We’re pleased that MEI Industrial Solutions has chosen to include 500 Denmark Drive as part of its regional West Coast logistics expansion,” said Clarion Partners Managing Director Jason Glasser. “As a high-growth and desirable submarket conveniently located near major transportation routes, Reno continues to offer industrial users like MEI a compelling value proposition.” The new facility significantly expands MEI’s operational footprint in Northern Nevada and enhances MEI’s service capacity with secured indoor and outdoor storage space, joining MEI’s nationwide network of 50+ facilities across 24 states. In addition, the facility is well positioned to serve the company’s data center and manufacturing customer base nearby. Clarion Partners acquired 500 Denmark Drive on behalf of a commingled fund in July 2024. Surrounded by numerous data centers as well as national tech, big box, and e-retailer tenants, the acquisition expanded Clarion’s existing Reno-area industrial footprint of over 1.7 million sq. ft. It also marked Clarion’s first entry into Sparks, NV - one of Reno’s most active submarkets and an active Federally designated Qualified Opportunity Zone (“QOZ”). Clarion is currently invested in 170 properties (nearly $8 billion in GRE) in areas designated as QOZs and owns an additional 560 properties (over $30 billion in GRE) in submarkets neighboring QOZs. 1 Clarion Partners, LLC, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 40 years. Headquartered in New York, the Firm maintains strategically located offices across the United States and Europe. With $73.1 billion in total real estate and debt assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to approximately 500 institutional investors across the globe. Clarion is scaled in all major property types and was an early entrant into the Industrial sector. The Firm’s global industrial team manages a ~1,000 property portfolio in the U.S. and Europe consisting of more than 250 million square feet. Clarion Partners is an independently operated specialist investment manager of Franklin Templeton. More information about the firm is available at www.clarionpartners.com. Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and over $1.5 trillion in assets under management as of April 30, 2025. Contact Details Chris Sullivan +1 917-902-0617 chris@craftandcapital.com Company Website https://www.clarionpartners.com

June 09, 2025 04:00 PM Eastern Daylight Time

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Shumate Engineering Presents Breakthrough Hybrid Dry Adiabatic Cooling Design, Passes Key Benchmark

The Hoyt Organization

In a major breakthrough for the data center industry, Shumate Engineering, a leading full-service MEP engineering firm specializing in mission-critical data center environments, has launched its new cooling design, which is proven to significantly reduce power and water consumption. Hybrid-Dry/Adiabatic-Cooling (HDAC), a patent-pending design, was presented last month at AFCOM’s Data Center World conference in Washington, D.C., to hundreds of industry insiders who agreed with the system. HDAC utilizes both wet and dry cooling techniques within a closed loop, has the potential to disrupt the sector – just as its grappling with the proliferation of artificial intelligence. “With the need for massive computing power taking hold around the world, the data center industry is booming right now; however, the power and water needed to cool the racks and keep them functioning has limited its progress,” said Daren Shumate, PE, founder and managing principal of Tysons, Va.-based Shumate Engineering. “Major data center projects backed by the biggest names in tech have resorted to drastic measures to meet this demand, including the construction of high-density data centers that span city blocks and recommissioning nuclear power plants, but our cooling design manages to use half of the power and less than 10 percent of the water compared to traditional data centers – offering a massive savings of natural resources and billions of dollars in costs.” This hybrid-dry adiabatic (HDAC) design was presented by Shumate and R. Stephen Spinazzola, PE, director of mission critical services at Shumate Engineering at the AFCOM conference. They explained how to get power usage effectiveness (PUE) for a hyperscale data center in the mid-Atlantic region – typically higher than 1.2 – down to a range between 1.1 to 1.06 PUE, depending on the ratio of traditional air cooled versus direct liquid cooled equipment. They followed up the presentation with a successful test at Baltimore Aircoil Company's testing facility where the system met all specific design requirements, including: Maintaining 68 deg F fluid supply temp up to 60 deg F ambient dry bulb Maintaining 90 deg F fluid supply temp up to 82 deg F ambient dry bulb Maintaining 90 deg F fluid supply temp up to 81 deg F ambient wet bulb “We are incredibly pleased with the performance of our HDAC design,” said Spinazzola, the creator of the design who already has six patents in his name. “This test verifies our claim that this system uses approximately the same water an air-cooled chiller system uses when combining on site and electrical power plant water use.” The timing couldn’t be more relevant. As global demand for high-performance data centers surges — driven largely by the exponential growth of artificial intelligence, machine learning, and cloud computing — cooling infrastructure has become a critical bottleneck. Shumate Engineering's groundbreaking solution addresses both the energy and environmental challenges associated with traditional evaporative and mechanical cooling methods. “Our new hybrid system is a game-changer,” Shumate said. “By dramatically reducing both energy and water consumption, we're enabling data center operators to scale up AI and high-density workloads sustainably and cost-effectively. It’s an engineering solution that meets the moment.” Unlike conventional systems that rely heavily on water-based evaporative cooling, Shumate Engineering’s HDAC design combines advanced dry cooling principles with prescribed adiabatic enhancements, optimizing thermal performance without compromising environmental responsibility. The result is a scalable, modular system that not only meets the intense thermal demands of AI-driven computing but also reduces operational costs and environmental footprint — a critical consideration as data centers face growing scrutiny over resource usage. “Considering that a typical ChatGPT query used 10 times more power than the average Google search, the future of computing demands a future-ready infrastructure,” Spinazzola said. “Our HDAC system keeps pace with technological advancements while meeting aggressive sustainability goals – cutting power usage in half and using just a sip of water." About Shumate Engineering Shumate Engineering is a full-service MEP engineering firm specializing in mission critical, data center environments. Its ever-growing roster of engineers have collaborated on many projects — from the namesakes of northern Virginia’s “Data Center Alley” and the rapidly growing DMV housing market to new prospects in Richmond and beyond. The team’s game-changing Hybrid Adiabatic Fluid Cooler - which uses half as much power and 90 percent less water than traditional cooling systems for AI data centers - is set to be approved by the U.S. Patent and Trademark Office this summer. Learn more at shumateengineering.com. Daren Shumate, Founder and Managing Principal of Shumate Engineering, boasts many accomplishments in data center design including is an engineering icon the Smithsonian Institution’s main data center in Herndon, eBay’s chief 26-megawatt Tier E structure in Utah, the NSA’s High Performance Computing Center in Ft. Meade, and the Fannie Mae-owned data center in Urbana that was the first of its kind to attain LEED. He is a licensed electrical engineer in more than 20 states and lives in the Washington, D.C. area. Steve Spinazzola, Director of Mission Critical Services for Shumate Engineering, offers more than 42 years of experience in both mechanical design and project management on corporate, mission-critical, educational, health and science, retail, and institutional projects. His game-changing Hybrid Adiabatic Fluid Cooler - which uses half as much power and 90 percent less water than traditional adiabatic cooling - is set to be approved by the U.S. Patent and Trademark Office this summer. ### Contact Details Shumate Engineering Andrew King +1 914-513-6895 aking@hoytorg.com Company Website https://shumateengineering.com

June 03, 2025 04:01 PM Eastern Daylight Time

130 Years Strong: KDW Celebrates Extraordinary Legacy of Building Excellence

KDW

KDW, an award-winning Texas design-build firm, is celebrating an extraordinary milestone — 130 years of continuous, multigenerational family-owned operations. Since its founding in 1895, the company has grown from a reputable and respected East Texas construction business to Texas’ premier design-builder. "Celebrating 130 years in business is a rare and humbling milestone. It’s a testament to the enduring relationships we’ve built along the way,” said KDW Co-founder and CEO Keith Dalton. “We are profoundly grateful to the clients who have trusted us to bring their visions to life. Their partnership and friendship have fueled our growth, inspired our innovation, and sustained our legacy that began with a simple promise: to go beyond for every client. We carry that promise forward with pride and purpose, with a commitment to deliver every project with excellence and integrity for generations to come.” In 1895, the Kingham family established its first construction company in Nacogdoches, Texas, where it shaped the infrastructure of East Texas, building schools, hospitals, churches and several Stephen F. Austin State University buildings. In 2004, the business entered a new era with the launch of Kingham Dalton Wilson, Ltd. (KDW), a strategic partnership between the Kingham family, Keith Dalton and Welcome Wilson Jr. that brought together their respective years of experience with forward-thinking practices needed to meet the needs of global and domestic companies. Today, KDW operates from offices in Houston, Austin and Nacogdoches, supporting clients in commercial and industrial sectors with an integrated, single-contract design-build model staffed by in-house architects, in-house designers and multidisciplinary building professionals. KDW is a one-stop partner for global, national and local businesses alike. Its portfolio of more than 2,500 projects includes award-winning work for Elin Energy and Waaree Solar, state-of-the-art manufacturing and logistics facilities for Goya Foods, Sika and MAN Energy Solutions, advanced recycling centers for Balcones Resources, and destination venues such as Typhoon Texas Waterparks and the Fredonia Hotel. The firm has built more than $1 billion in projects since 1895 but recognizes its true impact in its long-standing relationships. By prioritizing open collaboration with clients, design partners and trade professionals, KDW establishes the foundation of trust and transparency that leads to successful completions. Learn more about KDW’s legacy at KDW.com. About KDW KDW is a full-service design-build firm with offices in Houston, Austin, and Nacogdoches. A fifth-generation family-owned business, KDW has simplified the construction process for global and domestic clients for 130 years, with projects spanning industrial, manufacturing, cold storage, food & beverage, commercial, lifestyle and interiors. Its team of over 100 multi-disciplinary experts ensures projects are completed on time, within budget, and beyond client expectations. For more information about the company’s culture of innovation, collaboration, and commitment to its people, visit KDW.com. Contact Details Jessica Poulalier jessica@centerreachcommunication.com Company Website https://kdw.com/

May 27, 2025 10:00 AM Central Daylight Time

Rebuilding LA: Steel Frame Construction on the Rise Amid Push to Fireproof Homes

The Hoyt Organization

MAY 1, 2025 – In the aftermath of January’s wildfires that swept through 40,000 acres causing $250 billion in local economic damage, destroying more than 16,000 structures and affecting thousands more, builders and city officials, alike, are analyzing construction practices to incorporate materials that won’t burn. At the top of the list? Steel frame construction. Steel has emerged as the primary option for homebuilders who need to adhere to new standards in wildfire zones and keep insurance costs at bay for those who will ultimately live there. The steel-framing industry, itself, is projected to grow to more than $58 billion by 2033, up from $35 billion in 2023, according to Spherical Insights. “This year’s fires were a heartbreaking tragedy on a horrific scale, and sadly much of damage could have been contained if it weren’t for the overuse of wood and drywall that are so quick to ignite when impacted by flying embers,” said Scott Acton, CEO of Forté Specialty Contractors, a seasoned design-build veteran whose unique expertise combines residential projects with high-profile hospitality and theme park developments that must adhere to stringent fire safety standards. Acton advocates for more steel-frame home designs, which are much more durable in the event of a natural disaster or the wildfires that are occurring at an alarmingly regular place in California. The losses incurred have gotten so catastrophic that the insurance premiums moving forward will likely soar at a rate that will displace many Californians and exacerbate the state’s affordability crisis. “Due to its resilience and durability, steel home construction has been growing in popularity for the luxury markets along the coast, but it is quickly becoming the preferred option for developers of all housing types because traditional building practices have gotten so dangerous and costly,” Acton said. “Developers of multifamily housing are increasingly specifying steel framing to accelerate build times, simplify quality control and deliver fire-resistant buildings that meet the demands of urban living. Along with the protection from fire, steel frame houses are also less susceptible to damage from earthquakes, high winds or flooding.” Steel-frame homes are also less likely to be infested with pests, termites and mold compared to wood. They are faster to assemble because the steel is often pre-fabricated off-site, which reduces on-site labor time. Plus, steel is highly recyclable, making it a more environmentally friendly choice compared to wood, which requires deforestation for production. In addition to pest resistance, speed to market, and recyclability, building with steel framing also delivers substantial saving on insurance. Recognizing steel as non-combustible, insurers can offer premium discounts of up to 75 percent on builder’s risk policies, according to the Steel Framing Industry Association. These average savings reflect steel’s superior fire resistance and loss history, translating into more predictable underwriting and lower overall risk costs throughout both construction and occupancy. The strength and integrity of steel creates more room for designer creativity as well. Despite steel’s relative material cost being higher than lumber, Acton notes that this is a huge value-add in luxury markets such as Malibu and the Palisades, where wider interior spaces and higher ceilings are in demand. ABOUT KRYTON Kryton International Inc. is the inventor of the crystalline waterproofing admixture and has been waterproofing concrete structures with its proprietary KrystolÂ® technology since 1973. Kryton has won awards for innovation, manufacturing, best place to work, and entrepreneurship. Kryton is an active member of the American Concrete Institute, International Concrete Repair Institute, American Shotcrete Association, and many other thought-leading organizations. Kryton exports its products to more than 50 countries globally. www.kryton.com About Forté Specialty Contractors: Founded in 2010, Forté Specialty Contractors is a Las Vegas-based specialty construction company that specializes in design build projects rooted in the experiential theming and entertainment world. Forté expanded its services to include a luxury home building division, which today includes a portfolio of homes in Las Vegas and on the East and West coasts. For more information, please visit fortedesignbuild.com or follow us on Facebook, Instagram, or LinkedIn. Contact Details Forte Specialty Contractors Andrew King +1 914-513-6895 aking@hoytorg.com Company Website https://fortedesignbuild.com/

May 01, 2025 01:47 PM Eastern Daylight Time

Rising Water Tables in the Southern U.S. Spotlight Need for Sustainable, Waterproof Concrete Solutions

The Hoyt Organization

May 1, 2025 - With rising water tables and an uptick in extreme weather events across the Southern United States, engineers, builders, and municipalities are turning to Smart Concrete as a long-term, sustainable solution to fortify critical infrastructure against flood risks, abrasion, corrosion and climate-related damage. Recent studies have shown that groundwater levels across states like Louisiana, Texas, Florida, and Georgia are increasing due to a combination of sea level rise, heavy rainfall patterns, and overburdened drainage systems. Consequently, there are higher likelihoods of flooding not just along coasts, but inland as well, putting foundations, stormwater systems, and essential infrastructure at increasing risk of failure. According to First Street’s 2025 National Risk Assessment, which projects a nearly $1.5 trillion dollar drop in property values from climate-related migration patterns, the nation’s most risky markets for climate-related property loss are all in Texas, including the metropolitan areas of Dallas-Fort Worth, Austin and Houston – all of which have experienced recent population surges amid increasing insurance costs associated with extreme weather. Smaller markets have been less resilient to these economic and environmental threats. For instance, in Jefferson County, Ala., the damage has already been done, triggering a 9.4 percent spike in climate-related insurance costs and a subsequent 25 percent plunge in population, the report found. Key infrastructure such as highways, airports and large-capacity garages are increasingly vulnerable to water-related corrosion in the South and that durable concrete is a viable long-term solution to those challenges, according to Patrick Kelly, Territory Manager – Central U.S. for Kryton International, a leading manufacturer of high-performance concrete. “It’s largely a threat from below,” Kelly said of the South’s rising water tables and increasing flood risks. “Traditional concrete structures can deteriorate rapidly when exposed to persistent water pressure, freeze-thaw cycles, and chemical ingress. Our waterproof concrete technology is designed to combat these exact challenges while reducing the need for costly maintenance and repair.” Waterproof Concrete: A Sustainable Advantage Unlike surface coatings or short-term sealants, waterproof concrete is engineered at the mix level with crystalline admixtures that resist moisture intrusion from the inside out. When compared to traditional concrete, this internal waterproofing not only prolongs structural life but also contributes to sustainability goals by: Reducing carbon-generating material waste from repairs and replacements Improving lifecycle performance with lower initial carbon footprint Enhancing climate resilience in transportation, utility, and commercial infrastructure Waterproof concrete is increasingly being adopted in: Underground parking structures and basements Tunnels, culverts, and stormwater management systems Coastal and low-lying public works projects High-performance industrial facilities in flood-prone regions “With even more extreme weather on the horizon, future-ready construction starts with resilient materials,” said Kryton International’s Vice President for Product Development, Kevin Yuers. “Waterproof concrete isn’t just a product — it’s a strategy for climate adaptation.” ABOUT KRYTON Kryton International Inc. is the inventor of the crystalline waterproofing admixture and has been waterproofing concrete structures with its proprietary KrystolÂ® technology since 1973. Kryton has won awards for innovation, manufacturing, best place to work, and entrepreneurship. Kryton is an active member of the American Concrete Institute, International Concrete Repair Institute, American Shotcrete Association, and many other thought-leading organizations. Kryton exports its products to more than 50 countries globally. www.kryton.com Contact Details Kryton International, Inc. Andrew King +1 914-513-6895 aking@hoytorg.com Company Website https://www.kryton.com/

May 01, 2025 10:19 AM Pacific Daylight Time

News Release

4 Mortgage Stocks Primed to Surge as the Market Rebounds

PAPL RKT UWMC PFSI

The mortgage market is quietly heating up—and savvy investors are starting to take notice. After a bruising slowdown, early 2025 is flashing signs of a turnaround: U.S. mortgage originations are expected to climb to $2.3 trillion this year, up nearly 30% as rates stabilize and homebuyers re-enter the market. In Canada, a massive wave of mortgage renewals is creating a once-in-a-decade window for disruption. From AI-powered lending platforms to aggressive market consolidation, a new generation of mortgage players is rewriting the rules—and positioning themselves to dominate as the cycle turns. Let’s take a closer look at some of the companies shaping this rapidly evolving landscape. Pineapple Financial Inc. (NYSE American: PAPL) is a Toronto-based mortgage brokerage network and technology platform that went public in late 2023. While still in its early stages as a publicly traded company, Pineapple has demonstrated solid revenue growth and improving operational efficiency through the first half of fiscal 2025. For the six months ended February 28, 2025, Pineapple reported $1.51 million in revenue, an 11.8% increase year-over-year. Gross billings rose 15.2% to $9.33 million, reflecting higher transactional volume and agent productivity across its brokerage network. Despite a net loss of $1.25 million for the period, this marks a 17.9% improvement over the $1.53 million loss posted in the same period the prior year. Quarter-over-quarter performance also showed continued progress. In Q2 FY2025, Pineapple generated $749,000 in revenue (up 6.8% YoY) and $4.52 million in gross billings (up 19.6%). The company reduced its net loss to $595,449 from $657,151 in Q2 FY2024, while lowering salaries and benefits expenses by 27.7% and advertising/marketing spend by over 60%. Management attributed these improvements to operational streamlining and its transition to a more scalable, tech-enabled platform. These results build on a strong Q1, when Pineapple posted 34.6% YoY revenue growth and a 26.8% reduction in net loss. The company ended Q1 with $619,581 in cash and shareholders' equity of $1.15 million, signaling modest but stable capitalization for its stage of growth. Looking forward, PAPL appears positioned to benefit from Canada’s large pipeline of mortgage renewals, which management sees as a near-term tailwind. CEO Shubha Dasgupta has emphasized a focus on cost discipline and digital infrastructure as the company aims to scale efficiently. CFO Sarfraz Habib highlighted the narrowing losses and improved operating cash flow as markers of progress toward profitability. Although still operating at a loss, PAPL is showing signs of maturing into a leaner, more efficient player within the Canadian mortgage origination space. Its financial trajectory and positioning in a tech-forward segment make it a company to watch as broader sector dynamics evolve. Rocket Companies (NYSE: RKT) is a Detroit-based fintech platform known for modernizing the homeownership journey. Best known through brands like Rocket Mortgage and Rocket Homes, the company also offers services in real estate, title, and personal finance through products like Rocket Money and Rocket Loans. Founded in 1985, Rocket has become a leader in both mortgage origination and servicing—earning the #1 spot in J.D. Power’s customer satisfaction rankings a combined 22 times. Now, Rocket is taking bold steps to expand its reach and integrate the entire homeownership process under one roof. In March 2025, Rocket announced it would acquire Redfin, one of the most visited real estate websites in the U.S., in a $1.75 billion all-stock deal. With nearly 50 million monthly visitors, Redfin brings serious online traffic, as well as over 2,200 real estate agents in 42 states. This move will connect Rocket’s mortgage tools directly to house hunters, aiming to simplify the search-to-closing process. “This deal accelerates our strategy to match buyers with the best agents and loan officers, all in one place,” said Rocket CEO Varun Krishna. Rocket expects the merger to deliver over $200 million in synergies by 2027, including $140 million in cost savings and $60 million in new revenue from cross-selling. The company believes this will strengthen its ability to offer a seamless, AI-powered buying experience backed by its expanding database of over 100 million properties. Just weeks later, Rocket announced another huge deal: the acquisition of Mr. Cooper Group, America’s largest mortgage servicer, in a $9.4 billion all-stock transaction. Together, the combined company will manage a servicing portfolio of $2.1 trillion—representing 1 in 6 U.S. mortgages. This deal supercharges Rocket’s servicing arm while expanding its ability to keep clients long-term. With an 83% recapture rate (how often Rocket keeps customers coming back), the company already outpaces the industry average by 3x. Now, with access to Mr. Cooper’s nearly 7 million clients and 150 million annual interactions, Rocket expects to grow faster and smarter. The transaction is expected to generate $500 million in annual revenue and cost synergies, improve automation, and be immediately accretive to earnings. Mr. Cooper’s CEO Jay Bray will join as President and CEO of Rocket Mortgage once the deal closes. With back-to-back acquisitions and a massive data advantage, Rocket is positioning itself as the most integrated and personalized homeownership platform in the market. Its AI tools are designed to anticipate customer needs, reduce friction in the homebuying process, and deepen long-term relationships with clients. Investors should keep an eye on Rocket’s upcoming Q1 2025 earnings report on May 8, especially in light of these strategic moves. Between Redfin’s online traffic and Mr. Cooper’s massive servicing book, Rocket’s flywheel for growth is spinning faster than ever. UWM Holdings Corporation (NYSE: UWMC) is a Michigan-based wholesale mortgage lender and parent company of United Wholesale Mortgage, the largest lender in the U.S. by volume. The company operates exclusively through the wholesale channel, partnering with independent mortgage brokers across the country. While macro headwinds continue to pressure mortgage origination volumes industry-wide, UWM has maintained its leadership position by aggressively pricing and investing in technology to streamline the broker experience. For Q4 2024, UWM originated $38.7 billion in loans, up 58.6% from $24.4 billion in Q4 2023, though slightly below Q3 2024’s $39.5 billion. Net income for the quarter came in at $40.6 million, compared to a net loss of $461 million in the year-ago quarter. Gain-on-sale margin was 105 basis points, a modest decline from 118 bps in Q3 but an improvement from 92 bps in Q4 2023. Adjusted EBITDA totaled $118.2 million for the quarter, reflecting stable operating profitability despite fluctuating loan volumes. Full-year 2024 originations reached $139.4 billion, a 28.7% increase from 2023, including $96.1 billion in purchase loans and $43.4 billion in refinances. Net income for the year was $329.4 million, compared to a $69.8 million net loss in 2023. The company ended the year with $507.3 million in cash and equivalents, and a $3.97 billion mortgage servicing rights (MSR) portfolio with a weighted average coupon of 4.76%. Operationally, UWM continues to enhance its broker tools and efficiency. Recent product rollouts include a 90% LTV cash-out refinance option and expanded use of its AI-based ChatUWM platform, which now assists with automated income calculations and product recommendations. Application-to-close time averaged 17 business days during the quarter, and customer satisfaction (NPS) remained strong at 82.5. Looking ahead, UWM guided for Q1 2025 loan production between $28 billion and $35 billion, with a projected gain margin of 90 to 115 bps. The company also announced that Rami Hasani, formerly of Deloitte and currently VP of Finance, will assume the role of CFO starting April 1, 2025. Outgoing CFO Andrew Hubacker will stay on in an advisory capacity. While UWM’s focus on scale and aggressive pricing may continue to pressure margins in the near term, the company’s dominance in the wholesale channel, stable liquidity, and disciplined cost structure provide a degree of resilience as the broader housing market remains in flux. PennyMac Financial Services, Inc. (NYSE: PFSI) is a prominent U.S.-based specialty financial services firm focusing on mortgage production, servicing, and related investment management. Founded in 2008, PennyMac has grown to be a leader in the residential mortgage industry, employing approximately 4,100 people. In 2024, the company originated $116 billion in new loans and serviced a portfolio of $666 billion in unpaid principal balance (UPB), solidifying its position as a top mortgage lender and servicer in the U.S. In February 2025, PennyMac launched NonDel+, a new Non-Delegated solution within its POWER+ portal. This platform offers an intuitive, end-to-end loan experience tailored for banker partners who need control over their loans but seek assistance with disclosures, loan documents, and additional services. The initiative reflects PennyMac's ongoing commitment to expand its Third-Party Origination (TPO) offerings and enhance its competitive standing in the wholesale mortgage market. With the introduction of NonDel+, PennyMac further solidifies its leadership in the TPO channel, which is critical as the company remains the third-largest wholesale lender and the top acquirer of loans in the correspondent channel. In March 2025, PennyMac entered a strategic partnership with the LA28 Olympic and Paralympic Games and Team USA, becoming the official mortgage supporter for the 2026 and 2028 U.S. Olympic and Paralympic Teams. This partnership underscores PennyMac’s commitment to the values of excellence and community engagement. The company will work with athletes and hopefuls to provide mortgage education and support, fostering a connection between the pursuit of athletic achievement and homeownership goals. This collaboration will also be central to PennyMac’s marketing efforts, including the "Where Greatness Lives" campaign. For the first quarter of 2025, PennyMac reported net income of $76.3 million, or $1.42 per share, on revenues of $430.9 million. This performance reflects a solid quarter despite broader market challenges. The company’s production segment generated a pretax income of $61.9 million, driven by strong loan acquisition and origination activity, including $28.9 billion in total loans originated or acquired, representing a 33% increase from the previous year. The servicing segment continued its growth trajectory, with a pretax income of $76.0 million, reflecting a 10% year-over-year increase in the servicing portfolio, which reached $680.2 billion in UPB. PennyMac’s results were partially impacted by valuation-related changes, with a $205.5 million loss in Mortgage Servicing Rights (MSR) fair values, offset by $106.8 million in hedging gains. However, the company’s robust management of its portfolio and capital structure positioned it well for future growth, as indicated by the increase in book value per share to $75.57 from $74.54 at the end of 2024. Looking ahead, PennyMac’s focus remains on leveraging its balanced business model to navigate market volatility, emphasizing continued growth in its servicing portfolio and strategic management of mortgage production. CEO David Spector highlighted the company’s strength in adapting to economic changes, with plans to integrate artificial intelligence to enhance operational efficiencies. PennyMac remains committed to maximizing shareholder value and maintaining its leadership position in the mortgage industry. Disclaimers: RazorPitch Inc. "RazorPitch" is not operated by a licensed broker, a dealer, or a registered investment adviser. This content is for informational purposes only and is not intended to be investment advice. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performances are not statements of historical fact and may be forward-looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quote; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor's investment may be lost or impaired due to the speculative nature of the companies profiled. RazorPitch has been retained and compensated by Pineapple Financial Inc. to assist in the production and distribution of content related to PAPL. RazorPitch is responsible for the production and distribution of this content. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. This content is for informational purposes only; you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, or offer by RazorPitch or any third-party service provider to buy or sell any securities or other financial instruments. All content in this article is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in this article constitutes professional and/or financial advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. RazorPitch is not a fiduciary by virtue of any persons use of or access to this content. Contact Details RazorPitch Mark McKelvie +1 585-301-7700 Mark@razorpitch.com Company Website https://razorpitch.com/

May 01, 2025 06:00 AM Eastern Daylight Time

Spring Bird Delivers Transit Buses to MTR for Use in Major Construction Shuttle Operations

Spring Bird

Spring Bird has delivered six heavy-duty New Flyer D40LF transit buses to MTR, providing dedicated shuttle support for a large-scale semiconductor fabrication plant construction site. The buses will be used to safely and efficiently transport construction workers across the expansive site, reflecting the growing demand for durable, high-capacity shuttle solutions in complex infrastructure projects. The multi-bus order, fulfilled over the past year through several transactions, underscores Spring Bird’s rising role as a trusted supplier of transit buses for industrial and operational shuttle services. According to Spring Bird founder Elliott Carson, the deal came together due to “competitive pricing, fast turnaround, and strong warranty support,” all of which aligned with MTR’s high standards and tight project timelines. “This partnership with MTR is a great example of what happens when two teams are aligned in purpose and professionalism,” said Carson. “MTR had a clear vision, high standards, and a fast-moving project — and we were proud to meet that challenge. Supporting their shuttle operations with dependable, work-ready transit buses is exactly what Spring Bird is built to do.” The buses underwent standard make-ready servicing and were delivered ready for immediate deployment. While not retrofitted with low-emission or advanced telematics systems in this case, the New Flyer D40LF platform offers reliable performance, ample standing room, and durability that outperforms most traditional coach or cutaway vehicles under demanding, repetitive shuttle conditions. “Transit buses are built for this kind of work,” said Thomas Hoskins, Director of Operations at Spring Bird. “You’re moving large numbers of people, constantly, in stop-and-go patterns, sometimes on rough or temporary roads. These vehicles are designed for all-day, every-day use. They can load quickly, handle tough environments, and just keep going.” Spring Bird’s Construction Shuttle Service program highlights several key benefits of using heavy-duty transit buses in worksite transportation: Dual-door boarding allows faster loading and unloading compared to coach buses or vans. Low-floor designs increase accessibility and reduce boarding times. Higher standing capacity allows more flexible loading based on shift schedules. Cost-efficiency comes from needing fewer buses and drivers to move more people in less time. For MTR, choosing Spring Bird also meant working with a team that understands the complexity of operational logistics. “We’re proud to support partners like MTR who are helping to build the future—literally,” said Carson. “Whether it’s a long-term city transit solution or a short-term industrial project, our goal is always the same: safe, smart, dependable transportation.” The deal also adds another chapter to the Carson family’s eight-decade history in the transit industry. Spring Bird, founded by Elliott Carson in 2020, is built on a legacy that dates back to 1943 when Dean Carson began providing local transit in Los Angeles. Today, that commitment to innovation, service, and reliability lives on in Spring Bird’s growing footprint across public and private transportation sectors. About Spring Bird Spring Bird is a premier provider of transportation solutions, specializing in the sale, leasing, and service of heavy-duty transit buses and motor coaches. Drawing from the rich Carson family legacy in the transportation industry, Spring Bird offers an inventory of high-quality buses from leading manufacturers and provides customized rehabilitation services, including minor repairs, major overhauls, and technological retrofitting. Dedicated to safety, innovation, and customer satisfaction, Spring Bird addresses the unique needs of cities, transit agencies, and private operators, ensuring reliable and efficient transportation solutions. Media Contact: For more information, visit https://springbirdbus.com or contact us at press@springbirdbus.com. ### About Spring BirdSpring Bird is a premier provider of transportation solutions specializing in the sale, leasing, and service of heavy-duty transit buses and motor coaches. Drawing from the rich Carson family legacy in the transportation industry, Spring Bird offers an inventory of high-quality buses from leading manufacturers and provides customized rehabilitation services, including minor repairs, major overhauls, and technological retrofitting. Dedicated to safety, innovation, and customer satisfaction, Spring Bird addresses the unique needs of cities, transit agencies, and private operators, ensuring reliable and efficient transportation solutions. Contact Details Media Contact press@springbirdbus.com Company Website https://springbirdbus.com

April 30, 2025 10:41 AM Central Daylight Time

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Ballast Rock Launches the Ballast Rock Real Estate Private Credit Fund

Ballast Rock

Ballast Rock, the diversified investment management firm, announced today that it has launched the Ballast Rock Real Estate Private Credit Fund, which seeks to lend to small to medium-scale real estate and solar projects on a senior-secured basis, managed by preferred developers. Investments in the fund, which targets raising a maximum of $50 million, will focus on senior-secured debt instruments with the potential for some equity upside. “Ballast Rock’s long-standing track record in real estate, infrastructure development, and capital structuring gives our investment team a strong foundation to enter private credit,” said Simon O’Shea, Chief Investment Officer of Ballast Rock. “Investors in our private equity and venture capital funds have long encouraged us to explore opportunities in private credit, so we feel a fund that can benefit from our deep experience in real estate and infrastructure was a natural next step.” The new fund will be managed by Max Jackson, who recently joined Ballast Rock Asset Management as Managing Director and Private Credit Portfolio Manager. The Ballast Rock Real Estate Private Credit Fund will focus on four strategies: Lot Banking. The fund will acquire parcels of land at or below market value from developers, with developers legally required to buy back the parcels when ready for construction. Delaware Statutory Trust Financing. DST sponsors are required to provide 100% of the capital needed to acquire an asset when a DST is formed. The fund will provide short-term bridge financing to sponsors for the required capital. Franchise Location Development. The fund will provide “last mile” development capital to preferred franchise developers, secured by the underlying property. Commercial Solar Development. The fund will provide “last mile” development capital to solar developers, to be sold to solar owner-operators after completion. “We believe having a focused approach to our investments, in areas where we have experience, is a differentiator in a private credit market with many new entrants,” Jackson said. “In addition, we plan to target loan sizes of $5 million or less, since we view that market as underserved.” The fund plans to generally require a senior-secured and/or preferred position in all loans, with the goal to be the first to receive proceeds from investment monetization. The fund also expects short-term hold periods of 6 to 18 months for each investment. The Ballast Rock Real Estate Private Credit Fund will be available to U.S. accredited investors with a minimum investment of $50,000. To learn more about the fund and to read important disclosures, please visit our Investor Portal. About Ballast Rock Group Ballast Rock is an integrated investment management company specializing in delivering risk-adjusted returns, accurate, and timely advice, high quality frequent reporting, and direct access to management. Ballast Rock operates Ballast Rock Asset Management, Ballast Rock Private Wealth, and Ballast Rock Capital. Ballast Rock Asset Management comprises Ballast Rock Real Estate, which includes the firm’s Sunbelt multifamily real estate funds, and Ballast Rock Ventures, comprising venture capital and private equity teams. Ballast Rock Private Wealth is a full-service registered investment advisor, with a focus on allocating into private asset classes. Ballast Rock Capital (member FINRA / SIPC ) is an SEC-registered broker-dealer. Ballast Rock is committed to being a driver of positive change. The diversity of our team members brings valuable new perspectives to our industry for the benefit of our stakeholders and the broader community. Investment Disclosure The information contained in this press release has been prepared by Ballast Rock Holdings LLC (“Ballast Rock”) without reference to any particular reader’s investment requirements or financial situation. Potential investors are encouraged to consult with professional tax, legal, and financial advisors before making any investment into a private offering of securities. An investment in private securities would be speculative and would involve a high degree of risk. Investors must be prepared to bear the economic risk of such an investment for an indefinite period of time and be able to withstand a total loss of their investment. Please carefully consider the investment objectives, risks, transaction costs, and other expenses related to an investment prior to deciding to invest. Ballast Rock Capital LLC (“BRC”), MEMBER: FINRA / SIPC. BRC’s registered head office is 460 King Street, Suite 200, Charleston, SC, 29403. Tel: 800-204-2513. To check background information about BRC and its representatives, visit FINRA’s BrokerCheck. Please see important disclosure information in our Form CRS. Contact Details For Ballast Rock Lisa Aldape, Vocatus laldape@vocatusllc.com Company Website https://www.ballastrock.com/

April 29, 2025 10:00 AM Eastern Daylight Time