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July 2021

Pixelligent adds Wayne Rehberger, corporate finance expert, to its advisory board

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BALTIMORE, Maryland, July 28, 2021 (GLOBE NEWSWIRE) – Pixeligente Technologies today appointed Wayne Rehberger to its advisory board. Expert in corporate finance, Rehberger joins Pixelligent expands its Designer Compounds ™ portfolio, deepens its commitments with major customers in the consumer electronics market and extends its distribution footprint.

Rehberger has built world-class financial organizations for public and private companies in various industries. An insightful strategist with extensive expertise in corporate finance, governance and oversight, he has guided global organizations through major change events with strategies to create profitable growth. As CFO and COO of XO Communications, he led a restructuring which culminated in an acquisition by Icahn Enterprises in 2002 and the subsequent purchase of Allegiance Telecom. As SVP & CFO in the professional services industry, he has managed complex mergers & acquisitions including the acquisition of Engility in 2019 by SAIC and the previous merger of Engility with TASC in 2015. In 2017, he was named Virginia CFO of the Year by Virginia Business.

“Wayne’s talent is ‘creating value’,” said Craig Bandes, CEO of Pixelligent. “With an exceptional background in corporate finance, as well as a keen mind in operations and business development, he has helped high-growth companies grow and create meaningful value for stakeholders. His expertise will be invaluable as we move to volume production on a global scale and position ourselves Pixelligent for rapid and profitable growth in our served markets. We are honored to welcome her on board. “

Rehberger praised the Pixelligent team for their relentless innovation and focused execution, noting: “The technology is in a class of its own and attracts big name customers; the leadership is competent and motivated; market opportunities are vast and mass production is on the verge of With this foundation in place, Pixelligent technologies will play a key role in delivering the next generation of extended reality products, OLED displays / Solid State, optical sensors, etc.

Rehberger began his career with KPMG after a decade of service in the United States Army and the Army Reserve. He holds a BS from Bucknell University and an MBA from the Moore School at the University of South Carolina.

He serves on the boards of directors of QTS Realty Trust (NYSE: QTS), Fusion Connect and Abt Associates, as well as the advisory board of SAP National Security Services, a subsidiary of SAP (NYSE: SAP).

About Pixelligent
By synthetically replicating the metal oxides that nature has perfected, Pixelligent has reinvented the way composite materials are made, dramatically improving the efficiency and durability of consumer electronics and clean energy applications. Our PixClear® Designer Compounds ™ offer a unique combination of properties, operating efficiency and performance for augmented and mixed reality, OLED / QD / LED displays, optical sensors, solid-state lighting and applications related to clean energy. Our PixClearProcess® development and manufacturing platform enables us to design materials that integrate seamlessly into most common manufacturing processes including inkjet, nanoprint, spin coating, dispensing , slit matrix and photolithography. Our PixClearProcess® uses a fraction of the footprint required by traditional chemical companies, and our efficiency-enhancing PixClear® materials can provide terawatts of energy savings in solid-state display and lighting applications. . Please visit us at and follow us on LinkedIn and Twitter @Pixelligent.

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[email protected]

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How Corporate Finance Executives Use Excel Templates to Make Their Life Easier

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Excel is at the heart of every financial function performed by a business. As part of the Office 365 suite, Excel is used by more than a million businesses worldwide, 731,000 of which in the United States alone depend on it. It’s a versatile and easy-to-use app, and companies are showing no signs of wanting to give it up.

Despite its predominant use, there are limits to the functions of Excel. One of its most notorious limitations is the relative lack of flexibility it offers. When creating a new template, for example, users need to start from scratch by filling the worksheet with data and creating a workbook.

Excel templates provide a shortcut when performing these tasks. Here are some of the most important ways corporate finance professionals use them to launch their models and complete tasks.

Model specific scenarios

What-if analysis is a central part of a company’s financial planning. The financial implications of various hypothetical scenarios shed light on everything from budgeting to cost projections, to cash flow models. Typically, model inputs are adjusted and their results evaluated by financial analysts.

Excel templates for finance include business budget templates that extend up to one year. In addition, business financial analysts also use financial projection spreadsheets which are used to record and track major financial decisions.

For example, a company’s salary costs can be entered into these spreadsheets and edited to show the impact on cash flow at the end of the quarter or year. Thanks to the spreadsheet with pre-filled formulas, viewing the impact of changing variables is simple.

As a result, analysts spend less time entering formulas and more time performing value-added tasks such as modeling variables and projecting financial scenarios.

Create monthly financial views

Monthly closures are a headache just about all businesses, thanks to their hectic nature. No matter how far in advance finance employees collect data, that data always changes and needs to be validated multiple times before it goes to the CFO.

Given the urgent and time-limited nature of this process, it makes sense for departments to use pre-populated templates that require employees to simply enter data. The results of this data can be used to provide a quick overview of financial performance.

Once this data has been exported to consolidated monthly closing models, it can be automatically integrated with numbers from other departments. Therefore, finance employees save time by not defining relationships between cell values ​​every time data enters the consolidated worksheet.

These monthly views can be quickly exported as reports to the CFO for provide instant snapshot of how the company fared. In addition to monthly views, these templates can be modified to accommodate quarterly and semi-annual views, all of which can be consolidated to prepare annual financial statements.

Create easy-to-understand reports

Financial reporting is an important process that must go through intensive audit checks at every stage. Often times, changing the value of a cell in a worksheet is more than just deleting a value and entering something else. Teams should document the rationale for changing these values.

Templates make it easy to document changes with preformatted spreadsheets. Most importantly, they help standardize reporting procedures. When standardized and centralized models are not used, each department follows its own reporting process, making consolidation and reporting across the enterprise all the more difficult.

In these cases, teams have to integrate different formats into a single spreadsheet, which introduces the possibility of errors. Templates dramatically reduce errors because data entry tasks are made that much easier. While some models can be complicated, even these require a user to simply enter data and document the results present on the spreadsheet.

Thus, the reports created with this data are more reliable and consistent. When presenting numbers to senior management, finance teams can easily create new reports as they don’t need to create a format from scratch.

Focus on opportunity analysis

Each company performs a detailed scenario analysis regarding capital allocation. Should they invest in improving an existing product line or should they devote more capital to hiring new employees? These decisions don’t have easy answers, and finance teams spend a lot of time analyzing data.

Given how critical these decisions are, it’s unthinkable that an employee would spend their time creating a new spreadsheet from scratch. Instead, it’s much more efficient to use pre-populated ROI analysis templates and cost-benefit analysis spreadsheets. Once the formulas and formats are loaded and ready to use, all that remains is to enter their projections.

The result is that employees spend more time on actual analysis rather than office work. With this focus on opportunity, companies can make better capital allocation decisions.

Simplify corporate finance

Excel templates help corporate finance employees avoid paperwork and add value to their organizations. While they don’t eliminate the manual labor associated with financial modeling, they certainly shorten the process and help businesses make better financial decisions.

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Hot Topics from ASIC’s Latest Corporate Finance Update | Jones Day

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In short

The situation: The Australian Securities and Investments Commission (“ASIC”) recently released its quarterly update on corporate finance. Hot topics include Special Purpose Acquisition Companies (“SPAC”), electronic delivery of takeover documents and the importance of independent expert reports to shareholder approved transactions.

The result: PSPCs remain ineligible for listing on ASX, which means major legislative changes will be needed before PSPCs can come to Australia. ASIC is also reporting an increase in back-up requests allowing the electronic submission of Chapter 6 takeover documents, which is a welcome development for practitioners. In addition, ASIC has provided advice on when independent expert reports may be required for shareholder approved transactions.

Looking forward: SPACs will likely remain in the sights of major financial regulators around the world, while their financial merits attract a range of views as well. The use of electronic communication methods in Chapter 6 takeovers is likely to become more widespread, especially with the rebound in takeover activity lately, and we believe the market would be favorable to an order of class or other more permanent regulatory solution to facilitate electronic communication.

PSPCs: Are They Coming to Australia?

Almost daily, the financial and mainstream press reports on PSPCs, with differing views and scenarios. Interestingly though, with their popularity growing rapidly in the United States in particular, increased regulatory oversight and a broader business question as to whether there are enough merger targets for SPACs means we seem almost be at an inflection point on the SAVS.

These newly formed companies (without assets or operations) which raise capital through an initial public offering, are not able to register on the ASX due to the restrictions of the registration rules. on “cash” entities and ASX requirements on structural and operational requirements for a listed entity. So, in this regard, the American-style model cannot be easily “lifted” and transplanted to Australia without significant changes to our laws and operational market issues.

ASIC says it continues to monitor global regulatory developments, including in the US, UK and Singapore – and in that context, it noted that increased regulatory scrutiny by the SEC American might have been a factor that contributed to a cooling in the PSPC market.

Despite the real regulatory challenges, here in Australia we continue to respond to requests from Australian targets, potential investors and business advisers on the different ways to play in the PSPC market. Our American colleagues have seen a significant pause in new PSPC IPOs in part because of increased regulatory scrutiny. That said, they observe that a significant amount of capital is available as the SPACs that went public at the end of 2020 and early 2021 continue to seek new targets. In the US, we continue to monitor a rebound in the SPAC market, potentially with a more stringent regulatory framework or otherwise strengthened investor protections.

Use of electronic communication methods in acquisitions

Electronic sending of takeover documents

Although there is an established practice in arrangement drawings to send the scheme booklets electronically (via emailing a hyperlink to a website where the scheme booklet can be viewed) to targeting shareholders who provided an email address to the scheme company (with permission to use dispatch forming part of the court order at the first court hearing), the Companies Act provides that Documents relating to a Chapter 6 takeover (declarations of bidders and targets) are physically sent to shareholders.

In satisfactory development – and consistent with other regulatory initiatives aimed at making it easier to do business in light of COVID-19-related disruptions – ASIC has been receptive to requests for relief to allow parties to send documents take control electronically to shareholders. Our own experience with ASIC on this issue is that they have reacted quickly to these requests, especially when genuine disruption can be demonstrated (for example, locking borders in a particular state can have a big impact on timelines. ).

When parties to a takeover request this exemption, ASIC reminds the parties that the purpose of this exemption is to facilitate electronic access to documents instead of hard copy. In this regard, the form of electronic communications should not be viewed as a way to repackage or summarize information (for example, how to accept or reject, or the pros and cons) relating to the takeover bid. Electronic communication to members should be limited to instructions to shareholders on how to access electronic documents (the common approach is to establish a “transaction specific” website).

Electronic acceptance of takeover bids

Separately, but keeping the electronic theme, we’ve also seen a few examples of electronic (website-based) acceptance of buyout offers. Although online fundraising and also online voting forms for arrangement schemes have been in use for some time, it appears that the trend towards online acceptance of take-over bids is also growing, given the real time-saving benefits it provides.

Provision of independent expert reports for acquisitions approved by members

Independent expert reports again receive a mention from ASIC, although this time around the focus is on when IERs should be provided.

  • “Fair and reasonable” report of defective administrators replaced by an IER: While the practice of directors providing their own “fair and reasonable” opinion for the benefit of members is rare, ASIC cited a recent example about which many concerns were raised. These included: questions about the expertise of directors to express an opinion on financial and technical matters, the independence of one of the directors who wrote the report and the use of the industry experience of certain directors in this regard. which concerns technical matters, although these administrators do not have the appropriate technical diplomas. After ASIC’s intervention, the company hired an independent expert to comment on the transaction, which included a specialized technical report.
  • Provision of IERs for the benefit of members: ASIC recalled that, if members are asked to approve the acquisition of a relevant interest (in this context, we assume that ASIC is referring, for example, to a transaction involving an acquiring party > 20% in another or increasing their from a starting point> 20%), then if members do not receive an IER or a detailed report from directors on the transaction, this may be inconsistent with the obligation directors to disclose all important information about how to vote on the resolution. ASIC goes so far as to say that if membership approval is obtained without a report from the IER or the Director, the approval may be invalid.

Three key points to remember

Noting current Australian regulatory restrictions on PSPCs in Australia, ASIC is closely monitoring global regulatory and policy settings relating to PSPCs amid a larger question of whether the PSPC market is cooling or doing just right. a break to breathe.

  • Electronic methods of communication in takeovers appear to be gaining popularity – with examples of electronic submission of bidder and target declarations, and electronic acceptance facilities, which have recently emerged. Real-time benefits in terms of costs and efficiency result from these developments.
  • In cases where directors decide to produce their own report for members (rather than hire an independent expert), these reports are likely to attract real scrutiny, with the technical and independent expertise of the author directors likely to be in the spotlight of ASIC.
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Mergers and acquisitions consultancy PCB Corporate Finance appoints a new Managing Partner

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PCB Corporate Finance, a technology and advisory-led M&A consultancy firm, today announced the appointment of Brett Newland as Managing Partner.

Prior to joining PCB, Brett spent much of his career as Managing Director in Accenture’s corporate development and M&A teams, supporting the company’s largest and most complex transactions. , both on the purchasing and delivery side. His last role at Accenture was as COO of their global security practice, where he ensured the operational efficiency of the company, managed key ecosystem relationships and supported major acquisitions in the global business. . He joined PCB Partners in 2019 as a Partner.

PCB is a mergers & acquisitions consulting firm, rooted in the entrepreneurial culture. She provides buying and selling services, with a focus on disruptive technologies, digital transformation, management consulting and creative marketing services. It was founded in 2018 by entrepreneur Ben Doltis and former LDC Managing Director Tim Farazmand.

In just three years, PCB has grown into an international consulting company that has worked at the highest level in the digital and consulting industries. The company has assembled a global team of 20 people, strengthening its activities in the UK and adding new offices in the US (NYC and Boston), Australia (Sydney) and India (Mumbai). In 2020, the company also expanded its mergers and acquisitions services and now offers a range of corporate finance advisory, growth advisory, fundraising and private equity hedging services.

Since joining the firm, Brett has completed four transactions for consulting clients in the digital transformation market. This includes advice on acquiring a financial services strategy consultancy, a leading AWS consultancy partner, the UK’s leading data consultancy and a 350 FTE cybersecurity consultancy firm – playing Brett’s previous role as COO of the Accenture Security group.

Commenting on his appointment, Brett Newland said: “We are building something very special at PCB Corporate Finance. I am delighted to have the opportunity to lead a great team and help us reach the next stage of our development.

PCB Founder Ben Doltis added: “Time and time again, Brett has shown how valuable he is to the growth of PCB Corporate Finance. We are already working with some of the largest companies in the world and I am sure that with Brett as Managing Partner we will soon be working with many more.

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