Awning Company in Ladera Ranch, CA

SmartStop Self Storage REIT, Inc., a fully integrated and self-managed self-storage company, is pleased to announce the acquisition of a Class A self-storage facility located in Ladera Ranch, California. The property consists of two two-story buildings, three one-story buildings, and three floors within an adjacent four-story building that houses SmartStop’s corporate headquarters and the Ladera Sports Center. Covering around 136,300 net rentable square feet, the facility offers approximately 1,300 storage units and 18 RV storage spaces.

Storage options include a mix of climate-controlled and non-climate-controlled drive-up units, as well as multi-floor interior units with both climate-controlled and non-climate-controlled configurations, all with convenient elevator access. The facility also features solar energy capabilities and motion-sensing lighting.

Wayne Johnson, President of SmartStop, mentioned, “This acquisition is an excellent opportunity for SmartStop to expand its presence in one of the most attractive markets in Southern California. The Ladera Ranch property embodies our commitment to investing in high-quality, strategically-located facilities in markets with strong demand fundamentals. We are excited to serve this growing community and provide exceptional storage solutions.”

The facility is located at 30 Terrace Road in the heart of a thriving residential area in South Orange County, California. The site benefits from strong median household incomes, a projected 6.2% population growth within a three-mile radius over the next five years, and its proximity to a bustling retail hub anchored by well-known national brands. It is strategically positioned to serve nearby neighborhoods, including Rancho Mission Viejo, Mission Viejo, Laguna Niguel, Coto De Caza, Trabuco Canyon, and Galivan.

FREYR Battery has completed the acquisition of Trina Solar Co. Ltd.’s U.S. solar manufacturing assets, as planned. The deal includes Trina Solar’s 5 GW solar module production facility in Wilmer, Texas, which began operations on November 1, 2024. The facility is expected to reach full production capacity by the second half of 2025, with 30% of the output already secured under firm contracts with U.S. customers.

FREYR is moving forward with its plan to build a vertically integrated U.S. solar manufacturing operation. The company is currently selecting a site for a 5 GW solar cell manufacturing plant and exploring funding options through debt and equity. Construction is expected to begin in Q2 2025, with the first solar cells produced in the second half of 2026. This initiative aims to address supply chain challenges, create up to 1,800 jobs, meet U.S. content requirements for solar projects, and position FREYR as a competitive, turnkey solar technology provider.

The transaction creates a platform for establishing a leading U.S.-owned solar and battery storage company, offering significant growth potential. It builds on Trina Solar’s global leadership, strong U.S. presence, supply chains, technology, and manufacturing expertise. At closing, the total consideration to Trina Solar includes $100 million in cash, $50 million for an intercompany loan repayment, a $150 million loan note, 9.9% of FREYR’s common stock, and an $80 million convertible loan note, which can convert into an additional 11.5% of FREYR’s stock after certain conditions are met.

Additionally, FREYR acquired $235 million in debt associated with the Wilmer, Texas facility. FREYR has reaffirmed its 2025 EBITDA guidance of $75 – $125 million and expects to reach a full-year run rate of $175 – $225 million, with integrated solar module/cell production EBITDA of $650 – $700 million. The ramp-up at the Wilmer, Texas solar plant is progressing as planned, with Line 1 completed and Line 2 commissioning starting in November 2024. The facility is expected to reach full production by the second half of 2025.

FREYR also intends to submit transaction documentation in Q1 2025 to secure U.S. regulatory approvals, including from the Committee on Foreign Investment in the United States (CFIUS). As part of the deal, FREYR received $50 million from Encompass Capital Advisors in exchange for preferred stock, with the possibility of an additional $50 million upon starting construction on a solar cell manufacturing facility. Finally, FREYR is moving forward with the site selection process for its U.S. solar cell facility, with construction slated to begin in Q2 2025.

Daniel Barcelo, FREYR’s Chairman of the Board and CEO, mentioned, “Today is an exciting day for FREYR. The closing of this transaction marks the start of a new chapter for the Company as we execute our strategic plan to build a U.S.-based leader in the solar and storage markets. We are grateful for the continued support of our shareholders, and we look forward to advancing our key objectives to create meaningful shareholder value and to enhance our competitive position in 2025, highlighted by the planned start of construction of our solar cell manufacturing facility and other project development opportunities that are emerging for FREYR and Trina to mutually pursue.”

FREYR will pay Trina Solar a total consideration of $100 million in cash, $50 million to repay an intercompany loan, a $150 million loan note, 9.9% of FREYR’s common stock, and an $80 million convertible loan note, which can convert into an additional 11.5% of FREYR’s stock after certain conditions. FREYR also secured $100 million in preferred stock from Encompass-managed funds, with $50 million issued at closing, and $14.8 million in a private placement of 7% of FREYR’s common stock to Ms. Chunyan Wu. The funds will support general operations. Advisors for the transaction include Santander, Skadden, Arps, Slate, Meagher & Flom LLP, Arnold & Porter, Ernst & Young, Clean Energy Associates, and Rystad Energy for FREYR, and Dorsey & Whitney LLP, CICC, and Deloitte for Trina Solar.

RICHMOND, Va.--(BUSINESS WIRE)--Lucky Strike Entertainment (NYSE: LUCK), one of the world’s premier operators of location-based entertainment, announced today the opening of Lucky Strike Ladera Ranch in Orange County, California. This location opens to the public on December 21, 2024, and will be the sixth newly built Lucky Strike location to open this year. It also marks the second new Lucky Strike location in California this month, following the opening of Lucky Strike Beverly Hills.

“The opening of Lucky Strike Ladera Ranch is another terrific location in our continued growth and expansion,” said Thomas Shannon, Founder, Chairman, and CEO of Lucky Strike Entertainment. “As we bring our brand to more communities across the country, we remain focused on delivering premium entertainment experiences that set new standards for families, friends, and companies to connect.”

Lucky Strike Ladera Ranch offers an immersive experience with 42 state-of-the-art bowling lanes, giant video screens, and an upscale bar serving craft cocktails. The chef-driven menu features elevated favorites from our Cheeky Monkey Gastropub such as Firecracker Shrimp Bao Buns, Birria Tacos, and the Moroccan Steak Bowl. Guests can also enjoy a cutting-edge arcade with 60 arcade games, and a Prize Vault redemption store stocked with a curated selection of prizes.

“This location brings together everything Lucky Strike represents: entertainment, dining, and elevated social experiences,” said Lev Ekster, President of Lucky Strike Entertainment. “Lucky Strike Ladera Ranch reflects our vision for the brand’s future as we continue to grow nationwide, and we’re looking forward to delivering our signature experience to the Ladera Ranch community and beyond.”

Lucky Strike Ladera Ranch will be the 19th Lucky Strike location, further expanding the brand’s footprint nationwide.

About Lucky Strike Entertainment

Lucky Strike Entertainment is one of the world’s premier location-based entertainment platforms. With over 360 locations across North America, Lucky Strike Entertainment provides experiential offerings in bowling, amusements, water parks, and family entertainment centers. The company also owns the Professional Bowlers Association, the major league of bowling and a growing media property that boasts millions of fans around the globe. For more information on Lucky Strike Entertainment, please visit IR.LuckyStrikeEnt.com.