Day: September 8, 2021

Bad Actor Discovery as a Service (BADaaS) is the first AI-powered service that uses publicly available data on financial crime to reveal hidden connections

CHARLOTTE, N.C., Sept. 08, 2021 (GLOBE NEWSWIRE) — Tresata announced today the launch of its Regtech Cloud with the availability of Bad Actor Discovery as a Service (BADaaS). Powered by Tresata’s advanced AI systems, BADaaS offers the first free and scalable service that uses public data to identify bad actors and prevent the misuse of global financial and regulatory systems by exposing their hidden networks.

The United Nations Office on Drugs and Crime estimates $2.4 trillion is laundered through the world’s financial markets and banking systems each year, funding illicit activities such as slavery, child labor, forced prostitution, terrorism and drug trafficking. However, as the Investigative Consortium of Investigative Journalists notes—despite the known consequences and dealings of financial bad actors—these crimes often go undetected, with less than 1% of criminal funds seized by authorities annually.

This service is the first to use intelligence generated by advanced AI algorithms that scan trillions of data points across hundreds of millions of beneficial owners sourced from legal, corporate, offshore leak, and sanctions data. This allows BADaaS to identify, track, and expose hidden connections these beneficial owners have at absolute scale.

“Institutions and individuals in the financial sector aren’t the only victims of bad actors. There are significant human costs that we all bear as a result of such exploitation. It’s a global problem that will persist until we eliminate the ability of bad actors to cover their tracks,” said Abhishek Mehta, Chairman and CEO of Tresata. “We architected BADaaS to do exactly that—uncover tracks, across all available data—and we made it free, so honest hard-working professionals in governments, banks or journalism can expose these tracks, reveal suspicious connections, and join the fight to end financial crime.”

Audrey Koh, White Collar Crime & Investigations Partner at Avonhurst, an early user of BADaaS, said, “BADaaS is transformational. Traditional lookup services and existing tools are costly and struggle to keep pace with the evolving threat that is financial crime. Identifying bad actors is not enough in itself—you need to understand what their relationships are and keep track of them over time. I look forward to seeing the evolution of BADaaS’ features and functionality in the months to come.”

Tresata plans to make BADaaS a key service for its planned Regtech Cloud offering, with additional products and services slated for launch in early 2022. BADaaS is available for immediate use across all web and mobile platforms starting today.

ABOUT TRESATA
Tresata automates the analysis of data at absolute scale. Its Digital Business Engine is used by Fortune 500 companies to leverage data as an asset and create products and services that enrich the lives of all their customers.

MEDIA CONTACT:
Edward Lin, On Behalf of Tresata
E: tresata@merrittgrp.com

Tim Boswell promoted to President in addition to continuing role as Chief Financial Officer

PHOENIX, Sept. 08, 2021 (GLOBE NEWSWIRE) — The Board of Directors (“the Board”) for WillScot Mobile Mini Holdings Corp. (“WillScot Mobile Mini” or the “Company”) (Nasdaq: WSC), a North American leader in modular space and portable storage solutions, today announced that its Board of Directors has extended employment arrangements with Chief Executive Officer, Brad Soultz, and Chief Financial Officer, Tim Boswell, through March 1, 2026 and July 1, 2026, respectively. Both contracts include a performance grant for each officer. Additionally, Mr. Boswell has been promoted to President and Chief Financial Officer.

Erik Olsson, Chairman of the Board, commented, “Reflecting on the tremendous shareholder value created during the first year of the transformational merger between WillScot and Mobile Mini, the Board is even more excited about the Company’s value creation runway over the next five years. To that end, the Board is thrilled to secure Brad and Tim at the helm of WillScot Mobile Mini into 2026. We are confident in their ability to continue to execute the Company’s strategy for years to come, driving value for shareholders and delivering best-in-class service and an ever-expanding value proposition to our customers.”

Brad Soultz, Chief Executive Officer, commented, “I am grateful and humbled to have the opportunity to continue to lead this great Company. Since returning WillScot to the public markets just four years ago, we have increased revenues by four times, Adjusted EBITDA by nearly six times, and market capitalization and total enterprise value by almost nine times¹. We have achieved the number one market position in both modular and storage solutions, transformed our turnkey ‘Ready to Work’ value proposition through our value added products and services offerings and other initiatives, and assembled the best team in the industry, all of which are creating significant value for our shareholders. While I have thoroughly enjoyed this journey, I am even more excited about the Company’s growth and potential value creation over the next five years as we position to eclipse the $500 million free cash flow milestone we envisioned 18 months ago. As we embark on the next phase of growth, I am delighted to promote Tim Boswell to President and CFO. In addition to earning my utmost trust and respect over our last seven years of collaboration, Tim achieved the same level of admiration from both our shareholders and the broader management team. We have the right team in place to create value for our shareholders, and I am honored to work with everyone at WillScot Mobile Mini as we continue our journey together. I look forward to discussing the next steps in our growth trajectory at our Investor Day on November 8.”

Concurrent with the five-year extensions, the Board authorized special performance-based stock grants to both officers to align with shareholder value creation. The performance-based grants have no intrinsic value at grant and would not become eligible to vest unless the Company’s share price reaches at least $42.50 during the performance period. The performance-based grants begin to qualify for vesting at $42.50 per share, with maximum earning potential if the share price exceeds $60.00 per share during their respective contract extension periods. The $42.50 per share minimum performance threshold and $60.00 per share maximum performance level would represent share price increases of 50% and 112%, respectively, relative to the prior 30-day average close price of $28.37. The grants qualify for vesting once the minimum $42.50 share price threshold is achieved over their respective employment contract periods. Any grants earned during the performance period remain restricted, and vest at the end of the restricted period or upon other qualifying events. At the maximum vesting level, the total value of the grants would represent approximately 100 basis points of the incremental shareholder value created, with 750,000 shares granted to Mr. Soultz and 583,334 shares granted to Mr. Boswell. For further details for both contracts, please refer to Company filings with the SEC.

1 – Comparisons for financial metrics measured for full year as of 12/31/2017 to midpoint of 2021 guidance. Market capitalization and total enterprise value as of 11/30/2017 and 9/7/2021 and inclusive of minority interest on 11/29/2017.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. The words “estimates,” “expects,” “anticipates,” “believes,” “forecasts,” “plans,” “intends,” “may,” “will,” “should,” “shall,” “outlook” and variations of these words and similar expressions identify forward-looking statements, which are generally not historical in nature. Certain of these forward-looking statements include statements relating to value and value creation, the Company’s share price, free cash flow, and the Company’s future performance. Forward-looking statements are subject to a number of risks, uncertainties, assumptions and other important factors, many of which are outside our control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. These risks include, without limitation, the risks and uncertainties described in the periodic reports we file with the SEC from time to time (including our Form 10-K/A for the year ended December 31, 2020), which are available through the SEC’s EDGAR system at www.sec.gov and on our website. Any forward-looking statement speaks only at the date which it is made, and WillScot Mobile Mini disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About WillScot Mobile Mini Holdings Corp.

WillScot Mobile Mini Holdings trades on the Nasdaq stock exchange under the ticker symbol “WSC.” Headquartered in Phoenix, Arizona, the Company is a leading business services provider specializing in innovative flexible workspace and portable storage solutions. WillScot Mobile Mini services diverse end markets across all sectors of the economy from a network of approximately 275 branch locations and additional drop lots throughout the United States, Canada, Mexico, and the United Kingdom.

Contact Information

Investor Inquiries:

Nick Girardi

nick.girardi@willscotmobilemini.com

Media Inquiries:

Scott Junk

scott.junk@willscotmobilemini.com

Continued PAP use linked to 39% higher chance of survival over a 3-year period

LYON, France, Sept. 08, 2021 (GLOBE NEWSWIRE) — Using PAP (positive airway pressure) therapy as directed can significantly increase sleep apnea patients’ chances of living longer, according to a late-breaking abstract presented today at the virtual European Respiratory Society (ERS) International Congress 2021 and supported by ResMed (NYSE: RMD, ASX: RMD).

The landmark ALASKA study, “CPAP Termination and All-Cause Mortality: a French Nationwide Database Analysis,” concluded people with obstructive sleep apnea who continued PAP therapy were 39% more likely to survive than OSA patients who didn’t.¹ Researchers observed over 176,000 people in France with sleep apnea over a three-year period. Study authors say the survival rate gap remained significant when accounting for patients’ ages, overall health, other pre-existing conditions, and causes of death.

“Treating sleep apnea with PAP therapy may help you live longer; that’s the key takeaway here for people with sleep apnea and their doctors,” said Adam Benjafield, study co-author and ResMed Vice President of Medical Affairs. “This finding underscores how critical it is to identify the hundreds of millions of people worldwide whose sleep apnea is undiagnosed and untreated.”

An estimated 936 million people worldwide have sleep apnea² – including over 175 million Europeans – but over 80% remain undiagnosed.³

The ALASKA study was conducted in partnership with Professor Jean-Louis Pépin; universities of Grenoble, San Diego, and Sydney; Sêmeia; and other researchers from ResMed’s industry-academia collaboration medXcloud.

ResMed at ERS

This study is one of fourteen ERS-accepted abstracts presented, co-authored, or otherwise supported by ResMed, a global leader in sleep and respiratory care research and digitally connected therapy solutions.

On Tuesday, ResMed’s Benjafield presented the latest estimated prevalence of chronic obstructive pulmonary disease (COPD) in Europe from 2020 out to 2050. The European analysis, modelled on global burden of disease and world bank population data, reports 36.6 million Europeans have COPD as of 2020, and predicted prevalence will rise 39.6% to approximately 49.5 million by 2050.⁴

About ResMed
At ResMed (NYSE: RMD, ASX: RMD) we pioneer innovative solutions that treat and keep people out of the hospital, empowering them to live healthier, higher-quality lives. Our digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, COPD, and other chronic diseases. Our comprehensive out-of-hospital software platforms support the professionals and caregivers who help people stay healthy in the home or care setting of their choice. By enabling better care, we improve quality of life, reduce the impact of chronic disease, and lower costs for consumers and healthcare systems in more than 140 countries. To learn more, visit ResMed.com and follow @ResMed.

1 Pepin JL et al. “CPAP termination and all-cause mortality: a French nationwide database analysis.” ERS abstract, 2021
2 Benjafield AV et al. Lancet Resp Care 2019
3 Young T et al. Sleep 1997
4 Benjafield AV et al. “An estimate of the European prevalence of COPD in 2050.” ERS abstract, 2021

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