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Calgary, Alberta, March 11, 2022 (GLOBE NEWSWIRE) — Alaris Equity Partners Income Trust (“Alaris” or “trust”) (TSX: AD.UN) announced an additional investment of US $ 65 million (TSX: AD.UN) “BCC contribution”) Body Contour Centers LLC (“BCC”), I am doing business as SonoBello. Following BCC’s contribution, Alaris has invested US $ 156 million and is collecting US $ 21.2 million annually from BCC.
The BCC contribution of US $ 65.0 million was made in exchange for the preferred stock of US $ 8.5 million in the first annual distribution, which will be reset on January 1, 2023. Revenues from BCC contributions were used by BCC to acquire the sole licensee. 12 SonoBello brands in the eastern United States and Texas.
Following BCC contributions, revenue coverage ratio based on proforma capital structure((((1). It remains over 2.0 times.Execution rate Payment rate((((2). It stays in the range of 60% to 65%.
Alaris provides alternative financing to private companies through its subsidiaries (“partner“) In exchange for distributions, dividends and interest (“)DistributionThe main purpose is to generate stable and predictable cash flow for dividend payments to unitholders. Distributions from partners are adjusted annually based on the rate of change of “top-line” financial performance indicators such as gross profit and store sales to prioritize the owner’s common stock position.
Non-GAAP and other financial indicators:
Terms Revenue coverage rate, execution rate payment rate and EBITDA (collectively) “Non-GAAP and other financial measures”) Is a financial indicator used in this news release and is not a standard indicator of International Financial Reporting Standards (“”IFRS“). The trust that calculates revenue coverage, execution rate payment rates, and EBITDA may differ from the methods used by other issuers. Therefore, the partner’s revenue coverage ratio, trust execution rate payment ratio, and EBITDA amount may not be comparable to similar metrics used by other issuers.
(1) Revenue coverage is a financial measure of a partner’s EBITDA divided by the partner’s debt repayments (interest and principal), unfunded capital expenditures, and distributions to Aralis. .. Management considers revenue coverage to be a useful indicator of a partner’s ability to make contracted distributions.
(2) The “Run Rate Payout Ratio” is the non-GAAP financial ratio, which is the total distribution of Araris per unit expected to be paid over the next 12 months divided by the free cash flow per unit. Run Rate Payout Ratio is a metric that Alaris can help you track and outline. This is to repay preferred debt over the next 12 months and / or to provide an overview of the percentage of free cash flow available for additional investment. Purpose.
(3) “EBITDA” is a non-GAAP financial indicator that refers to depreciation and pre-amortization income, interest expense (financial expense) and income tax expense as determined in accordance with IFRS. EBITDA is used by management and many investors to determine the ability of an issuer or partner to generate cash from a business. Management considers EBITDA to be a useful supplement to determine the ability of partners to generate cash available for lending and borrowing, income tax, and distribution to unitholders.
Description of future prospects
This news release contains forward-looking statements, including forward-looking statements in the sense of the “safe harbor” clause under the applicable securities law (“forward-looking statements”). Any statement other than the historical facts contained in this news release may be a forward-looking statement that includes, but is not limited to, management’s expectations, intentions, and beliefs regarding: Amount of BCC distribution and adjustment. Many of these statements are words such as “believe,” “expect,” “do,” “intend,” “plan,” “expect,” “estimate,” “continue,” or they. Can be identified by the negative word of. The forward-looking statements in this document that make up the financial outlook or future-oriented financial information (including the impact on execution rate payment rates) have been approved by management as of the date of this document and have been approved by management as of Aralis’ financial performance and It is subject to the same risks and assumptions as disclosed here. There is no guarantee that the plans, intents, or expectations that underlie these forward-looking statements will arise.
By its very nature, forward-looking statements require Araris to make assumptions and are subject to inherent risks and uncertainties. Assumptions about the performance of the Canadian and US economies over the next 24 months and how it will affect Alaris’ business and its partners’ businesses, including but not limited to the ongoing impact of COVID-19. , Is an important factor for Alaris management to consider when: Make an outlook for Aralis. Key prerequisites include, but are not limited to, the following prerequisites: Canada and the US economy will remain stable from the recession caused by COVID-19 and will not be adversely affected for the next 12 months. Interest rates will not rise significantly over the next 12 months. Araris partners previously affected by COVID-19 will not be adversely affected by COVID-19 for the next 12 months. After recovering from the effects of COVID-19, the majority of our partners’ businesses will continue to grow. The business of new and existing partners runs in line with Aralis’ expectations and diligence. More private companies will need access to alternative sources of funding, and Araris will have the ability to procure the required equity and / or debt financing on acceptable terms. Araris management also expects the Canadian-US dollar trading pair to remain in the range of about plus or minus 15% of the current rate for the next six months. When determining expectations for economic growth, Araris management primarily considers historical economic data provided by the Canadian and U.S. Governments and their agencies, as well as the general economic conditions at the time of such decisions. ..
Forward-looking statements are subject to risks, uncertainties, and assumptions and should not be read as guarantees or guarantees of future performance. The actual results of the trust and partner are that COVID-19 is the trust and its partners (including if the partner may experience a slowdown or closure of the business); as a result of COVID-19 or other 2022. Partners and Alaris’ ability to meet future performance expectations. Change of senior lender based on facility outlook for Aralis business. Management’s ability to assess and mitigate the ongoing impact of COVID-19. Dependence on Alaris partners. Dependence on key persons. General economic conditions, including the continued impact of COVID-19 on Canada, the United States, and the world economy. If you do not complete or realize the expected benefits of Aralis’ funding arrangements with your partner. If the trust or partner fails to obtain the required regulatory approvals in a timely or at all manner. Changes in laws and regulations and their interpretation. Risks associated with partners and their businesses. This includes, but is not limited to, significant changes in the partner’s business or the industry in which the partner operates. The contributions of additional partners cannot be closed in a timely manner or at all. Changes in the ability of partners to continue paying to Alaris distributions. Changes to unaudited information provided to the trust. If a partner (or multiple partners) fails to achieve the expected growth strategy. Failure to achieve resolution of unresolved issues, including deferred distribution payments, with a partner in conditions that substantially meet or do not meet management expectations. Also, if you fail to realize the benefits of the concessions or remedies that Alaris offers to your partner, or if you fail to successfully execute your partner’s exit strategy as needed. Additional risks that may differ from the actual results shown are the “Risk Factors” and “Risk Factors” in the Trust management discussion and analysis and annual information form for the fiscal year ended December 31, 2020. It is explained under the heading “Description of future prospects”.Under the trust profile www.sedar.com And on its website www.alarisequitypartners.com.
This news release contains forward-looking financial and financial outlook information (collectively, “FOFI”) regarding net operating cash and increased liquidity per unit flow of the Trust. And the above qualifications. The reader considers the assumptions used to create such information reasonable at the time of creation, but may prove inaccurate, so the description of FOFI and future prospects Keep in mind that you should not place undue trust. The actual outcomes, performances, or outcomes of Alaris, if any of these forward-looking statements and FOFI’s representations or implications, or any of them, are significant to the benefits that the Trust will benefit from. It may be different. The Trust includes forward-looking statements and FOFI to provide readers with a more complete view of Araris’ future business, and such information may not be suitable for other purposes. Alaris disclaims any intention or obligation to update or revise any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.
Readers should be careful not to overly rely on the forward-looking information contained in this news release. A description of the future outlook, due to many factors, the actual future outcome, condition, action, or event. Statements containing forward-looking information reflect management’s current beliefs and assumptions based on the information held as of the date of this news release. Management believes that the assumptions reflected in the forward-looking statements contained in this document are reasonable, but there is no guarantee that such expectations will be proven to be correct.
The forward-looking statements contained herein are explicitly modified in their entirety by this notice. Forward-looking statements contained in this news release were made as of the date of this news release, and Alaris is subject to new events and circumstances unless expressly required by applicable securities law. We undertake no obligation to update or revise such statements to reflect.
Neither TSX nor its regulatory service provider (the term is defined in TSX policy) is responsible for the validity or accuracy of this release.
Contact us for more information:
Investor public relations
P: (403) 260-1457
Alaris Equity Partners Income Trust
Suite 250, 333 24th Avenue SW
Calgary, Alberta T2S3E6
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Alaris Equity Partners Donates US $ 65 Million to Existing Partner Canadian Business Journal
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