Enterprise Group Secures Credit, Viatris Settles for $335M

Enterprise Group boosts growth with new credit facility, Viatris settles opioid claims for $335M, plus updates on B. Riley, Caterpillar, AmpliTech, and more.

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Market-Moving News

Energy

Enterprise Group Secures Credit Facility to Fuel Strategic Growth

Enterprise Group, Inc. has taken a significant step toward expanding its footprint in the energy services sector by finalizing a senior secured credit facility with a Canadian Schedule 1 bank. The facility, which carries an interest rate of up to prime + 2%, will be leveraged for acquisitions, capital expenditures, and working capital. Backed by a first charge on all company assets and governed by financial covenants, the new funding source reinforces Enterprise’s commitment to disciplined financial management while supporting its long-term expansion strategy.

CEO Leonard D. Jaroszuk emphasized the importance of this facility in enabling the company to stay agile amid changing market dynamics. As a leader in energy services with a focus on emissions-reducing technologies, Enterprise is well-positioned to benefit from the ongoing shift toward cleaner, more sustainable resource development. With fresh capital in hand, the company can now pursue strategic acquisitions, enhance operational efficiency, and scale its offerings to both local and Tier One resource clients—all while reinforcing its role in the evolving energy landscape.

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Financial Services

B. Riley Financial Reduces Debt by $12M Through Strategic Note Exchange

B. Riley Financial, Inc. has taken a proactive step toward strengthening its capital structure by entering into a privately negotiated exchange agreement with an institutional investor. Under the terms of the deal, approximately $22 million in existing Senior Notes will be exchanged for $10 million in newly issued 8.00% Senior Secured Second Lien Notes due January 1, 2028. This transaction effectively reduces the company’s total outstanding debt by around $12 million. As part of the agreement, the investor will also receive warrants to purchase roughly 40,000 common shares at an exercise price of $10.00, exercisable over a seven-year period.

Chairman and Co-CEO Bryant Riley highlighted this as a meaningful move in BRF’s ongoing effort to improve its financial flexibility. This marks the company’s second such exchange and underscores its commitment to actively managing its balance sheet amid a challenging financial environment.

Healthcare

Viatris Reaches $335 Million Settlement Over Opioid Claims

Viatris Inc. has agreed to pay up to $335 million over nine years to settle opioid-related claims from U.S. states, local governments, and tribal entities, aiming to resolve litigation concerning its historical role in the opioid crisis. While the company maintains that its presence in the U.S. opioid market was minimal, the settlement is designed to address ongoing legal challenges. The payments, which will range from $27.5 million to $40 million annually, depending on participation, are already accounted for in the company’s 2024 annual report. Importantly, the agreement does not constitute an admission of liability or wrongdoing by Viatris.

In addition to addressing legal issues, Viatris is actively contributing to solutions for opioid-related public health challenges. The company continues to produce important medications such as a generic injectable version of naloxone, which is used to reverse overdoses, and buprenorphine/naloxone for addiction treatment. Furthermore, Viatris is exploring a new non-opioid pain management option through a delivery method for meloxicam.

Industrials

UBS Downgrades Caterpillar to Sell, Slashes Price Target Amid Economic Concerns

UBS has downgraded Caterpillar Inc. (NYSE:CAT) from Buy to Sell and significantly reduced its price target to $243, down from $385, citing macroeconomic risks, including tariffs and weakening global demand, that are not fully reflected in the stock. As a key bellwether for the broader industrial economy, Caterpillar is particularly vulnerable to slowdowns in critical sectors such as construction, oil & gas, and mining. UBS forecasts a more than 25% decline in the company’s 2026 earnings per share compared to consensus estimates, due to continued recessionary pressures and the lingering effects of tariffs.

With expectations of a 7% drop in sales in the second half of 2025, UBS has also revised its 2025 and 2026 EPS estimates downward. Despite acknowledging potential upside from infrastructure spending or a global growth rebound, UBS believes these are unlikely under current economic conditions, making the stock’s outlook more uncertain.

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Tech

AmpliTech Group Reaffirms Commitment to U.S. Manufacturing Amid Global Market Growth

AmpliTech Group, Inc., a leading designer and manufacturer of advanced signal processing components, has reaffirmed its dedication to American manufacturing by producing nearly all its products domestically. Operating from Hauppauge Innovation Park on Long Island, the company remains insulated from global tariffs and trade disputes, positioning itself favorably in rapidly expanding sectors like satellite communications, 5G/6G networks, and quantum computing. AmpliTech is the only U.S.-based manufacturer of specialized technologies, including Low Noise Figure Block Downconverters, Commercial Massive MIMO 5G radios, and Cryogenic Low Noise Amplifiers for quantum computing. These innovations cater to booming global markets, such as satellite ground stations, 5G infrastructure, and AI-driven quantum systems.

CEO Fawad Maqbool emphasized that AmpliTech’s commitment to U.S. production not only supports the domestic economy but also ensures product continuity, cost predictability, and fast deployment for a global clientele. With industries like telecommunications, aerospace, and quantum computing experiencing unprecedented growth, AmpliTech is uniquely positioned to meet the rising demand for critical communications and computing infrastructure.

Real Estate

Altus Group Marks 20th Anniversary with Strong Sustainability Progress

Altus Group Limited, a leading provider of asset and fund intelligence for commercial real estate, has released its 2024 Sustainability Report, showcasing the company’s significant strides in sustainability initiatives. As the company celebrates its 20th anniversary, Chief Communications Officer Camilla Bartosiewicz emphasized that sustainability is integral to Altus’s identity, focusing on reducing emissions, investing in its people, and maintaining robust corporate governance. In 2024, Altus achieved a 5% reduction in Scope 1 and 2 greenhouse gas emissions, largely due to strategic efforts like downsizing office space, which led to a 12% reduction in their office footprint.

Consumer Defensive

Image® Herbicides Unveils New Brand Identity and Packaging to Simplify Weed Control

Image® Herbicides, part of the Central Garden & Pet portfolio, has introduced a bold new brand identity and packaging redesign aimed at making weed control easier and more accessible for homeowners. The rebranding is based on consumer research revealing that half of weed control buyers are uncertain about purchasing the right product or applying it correctly. To address this, Image Herbicides has revamped its packaging with a focus on clear, visual identification, using imagery rather than text to guide customers in selecting the right weed killer for their needs. The new look is designed to improve in-store and online shelf visibility, making it easier for consumers to quickly spot the ideal solution for their lawns.

The updated packaging features a modern midnight blue color and contrasting visuals, highlighting the specific types of weeds each product targets. This redesign includes popular offerings like the Nutsedge Killer for Southern Lawns and Crabgrass & Weed Killer for Lawns, available in both ready-to-spray and concentrate formats. According to Aaron Dillon, Garden Design Lead at Central Garden & Pet, the refresh is all about providing consumers with clarity and confidence in their lawn care decisions. The new packaging will be available at major retailers like Lowe’s, The Home Depot, and Walmart this spring, ensuring that homeowners can confidently tackle their weed problems with ease.

Communication

LiveOne Reports Strong Preliminary Fiscal 2025 Results, Highlighting Revenue Growth and Cost Reduction

LiveOne (Nasdaq: LVO), a leading music, entertainment, and technology platform, has announced preliminary financial results for its fiscal year 2025, showcasing impressive performance amidst restructuring efforts. The company reported over $112 million in revenue for the year, with audio revenue surpassing $108 million and adjusted EBITDA exceeding $16 million. Subscribers and ad-supported users reached more than 1.45 million, underscoring the platform’s strong user engagement. Notably, LiveOne has made significant progress in its financial management, extinguishing over $7 million in liabilities, including paying off $4.1 million of its East West Bank credit line.

CEO Robert Ellin expressed pride in the company’s resilience and success despite the challenges posed by changes related to a Tesla deal. He highlighted that LiveOne has secured over $44 million in new revenue from five B2B deals and has multiple additional deals set to launch soon. With restructuring efforts leading to $40 million in annualized cost savings since December 2024, the company is positioning itself for future growth. LiveOne has also expanded its stake in PodcastOne (Nasdaq: PODC), acquiring 1.47 million shares at an average price of $2.22 since March 2024, signaling confidence in its long-term prospects. Despite these achievements, LiveOne’s stock is currently trading at only 50% of its revenues, presenting significant growth potential for shareholders.

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Mining

Lahontan Gold Corp. Announces Major Board Restructuring for Next Phase of Mine Development

Lahontan Gold Corp. (TSXV:LG) has revealed significant changes to its Board of Directors, effective May 1, 2025. The company will welcome Shane Williams, Evan Pelletier, and Max Pluss to the Board, bringing a wealth of expertise in mine engineering, finance, and capital markets. As part of the restructuring, current directors Chris Donaldson and Bob McKnight will step down, and the company extends its gratitude for their contributions. This transition is viewed as a strategic move as Lahontan embarks on the development and permitting phase of its Santa Fe Mine Project, positioning itself for growth and success in the mine development sector.

The new Board members bring strong industry experience to Lahontan. Shane Williams, currently CEO of West Red Lake Gold Mines, has a proven track record in large-scale mining projects, while Evan Pelletier’s extensive underground mining expertise and leadership in operations will strengthen the company’s technical capabilities. Max Pluss, with his background in investment management and capital raising, adds significant financial acumen to the team. Together, their diverse skill set will be critical in advancing Lahontan’s ambitions to evolve from an exploration company into a successful mine developer.

Everything Else

Trump threatens more tariffs on China as global markets plunge
Bitcoin’s price fell below the $80,000 mark
The Dow Jones Industrial Average declined by approximately 1,200 points
Gold prices and the Australian dollar both experienced significant declines
JPMorgan CEO Jamie Dimon expressed worries about the tariffs
Trump’s team dismiss rumours of a 90-day pause on tariffs as ‘fake news’
US President Donald Trump said that he won’t back down on his sweeping tariffs
The European Union is willing to talk to the Trump administration

That’s all for today. Thank you for reading.

FAQ: Market-Moving News 4/7/2025

What is the purpose of Enterprise Group, Inc.’s new credit facility?

Enterprise Group, Inc. secured a senior secured credit facility to fund acquisitions, capital expenditures, and working capital, supporting its strategic growth in the energy services sector.

How does Enterprise Group plan to use the new funding?

The company aims to pursue strategic acquisitions, enhance operational efficiency, and scale its offerings, focusing on emissions-reducing technologies and sustainable resource development.

What did B. Riley Financial achieve with its recent note exchange?

B. Riley Financial reduced its total outstanding debt by $12 million by exchanging $22 million in existing Senior Notes for $10 million in new Senior Secured Second Lien Notes and issuing warrants for 40,000 shares.

Why is B. Riley Financial reducing its debt?

The company is working to strengthen its capital structure and improve financial flexibility amid a challenging financial environment.

What is the Viatris opioid settlement about?

Viatris agreed to pay up to $335 million over nine years to settle opioid-related claims from U.S. states, local governments, and tribal entities, addressing litigation tied to its historical role in the opioid crisis.

Does Viatris admit fault in the opioid settlement?

No, the settlement does not constitute an admission of liability or wrongdoing by Viatris.

Why did UBS downgrade Caterpillar Inc.’s stock?

UBS downgraded Caterpillar from Buy to Sell due to macroeconomic risks like tariffs and weakening global demand, forecasting a significant earnings decline and a 7% sales drop in late 2025.

What is Caterpillar’s price target according to UBS?

UBS slashed Caterpillar’s price target to $243 from $385, reflecting economic concerns.

What makes AmpliTech Group unique in its industry?

AmpliTech Group is the only U.S.-based manufacturer of specialized technologies like Low Noise Figure Block Downconverters and Cryogenic Low Noise Amplifiers, supporting 5G/6G, satellite communications, and quantum computing.

Why does AmpliTech emphasize U.S. manufacturing?

Producing domestically insulates AmpliTech from global tariffs, ensures cost predictability, and supports fast deployment for its global clients.

What sustainability progress did Altus Group report in 2024?

Altus Group reduced Scope 1 and 2 greenhouse gas emissions by 5% and decreased its office footprint by 12% through strategic downsizing efforts.

How long has Altus Group been operating?

Altus Group celebrated its 20th anniversary in 2024, marking two decades as a leader in commercial real estate intelligence.

Why did Image® Herbicides redesign its packaging?

The redesign aims to simplify weed control for homeowners by using clear visuals to help consumers choose the right product, addressing confusion identified in consumer research.

Where can I find Image® Herbicides’ new packaging?

The updated packaging will be available at major retailers like Lowe’s, The Home Depot, and Walmart starting this spring.

What were LiveOne’s key financial achievements in fiscal 2025?

LiveOne reported over $112 million in revenue, $16 million in adjusted EBITDA, and reduced liabilities by over $7 million, while securing $44 million in new B2B revenue.

How has LiveOne managed costs recently?

The company achieved $40 million in annualized cost savings since December 2024 through restructuring efforts.

What changes did Lahontan Gold Corp. make to its Board of Directors?

Effective May 1, 2025, Lahontan added Shane Williams, Evan Pelletier, and Max Pluss to its Board, replacing Chris Donaldson and Bob McKnight, to support the Santa Fe Mine Project’s development phase.

What expertise do the new Lahontan Board members bring?

The new members offer skills in mine engineering, underground mining operations, finance, and capital markets, strengthening Lahontan’s mine development strategy.

What recent economic events impacted global markets?

Trump’s tariff threats led to a Dow Jones drop of 1,200 points, Bitcoin falling below $80,000, and declines in gold prices and the Australian dollar.

How has Trump responded to tariff pause rumors?

Trump’s team dismissed rumors of a 90-day tariff pause as ‘fake news,’ and Trump affirmed he won’t back down on his tariff plans.