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| Happy Tuesday, Insiders! In today's edition of the Inside newsletter, we delve into: - Former President Trump agrees to $200,000 bond bail terms over Georgia charges.
- The ongoing search for 850 missing individuals following the fire that devastated Maui last week.
- The recent decline of AMC stock due to the APE conversion process.
And more! If you find this newsletter useful, please share it with your friends and colleagues. Thank you. Robel
p/Robel-Kelkile | |
| 1 | | Former President Donald Trump is set to surrender on Thursday in Fulton County, Georgia, after being indicted for trying to overturn the results of the 2020 election. Fulton County District Attorney Fani Willis last week charged Trump with racketeering and several conspiracy counts. More: - Willis has set a Friday deadline for Trump and 18 other defendants to surrender. All of the defendants, including Trump, have been charged with racketeering, which carries a penalty of up to 20 years in prison.
- Trump has agreed to a $200,000 bond, and the terms include not intimidating witnesses or obstructing justice.
- Under the terms, Trump "shall perform no act to intimidate any person known to him or her to be a codefendant or witness."
- Other defendants include John Eastman, a lawyer charged with helping to orchestrate Trump's fake elector scheme, have agreed on bond packages with prosecutors.
- Eastman agreed to a $100,000 bond on charges of racketeering, criminal conspiracy, and filing false documents.
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| 2 | | AMC stock plunged by 23% ahead of a reverse stock split scheduled for August 24. 
What the numbers say: AMC's move to convert AMC Preferred Equity units (APE) will unify its standard share class in a bid to reduce its debt burden. Additionally, the company aims to combat its financial challenges through a planned 1-for-10 reverse stock split and an increase in authorized common shares. Relevance: The main goal behind APEs is to provide the movie-theater chain with additional liquidity to reduce its $5.4B debt burden. AMC made headlines back in 2021 after it became a meme stock, propelling its shares to nearly $60 each; however, since then, its share price has slumped, currently trading at around $3.11. | | | |
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| 3 | | Around 850 individuals are still missing following the Maui wildfires that devastated the town of Lahaina and resulted in the loss of at least 114 lives. Maui County Mayor Richard Bissen said that 1,285 individuals have been located safe but emergency workers are still trying to find hundreds of people. More: - Bissen said that many of the missing may have found shelter in local homes, since many residents opened their homes to survivors.
- He said that the estimate comes from the FBI, which collected data from American Red Cross, the FBI's office in Honolulu, and the Maui Police Department.
- Relatives of missing individuals have been urged to provide DNA samples to aid in identification, with a family assistance center available on Maui and options for those living elsewhere to contact the FBI for guidance.
Zoom Out: - The deadliest U.S. wildfire in more than a century destroyed over 2,700 structures in Lahaina and resulted in estimated damages of $5.6B.
- President Joe Biden visited the area on Monday and said that the federal government will support the island's recovery.
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| 4 | | GOOD NEWS: A one-of-a-kind giraffe without spots was born in a Tenessee zoo. Brights Zoo in Limestone, Tennessee, hopes that the yet-unnamed giraffe will help draw attention to the plight of reticulated giraffes, which are in danger of extinction. More: - According to the Giraffe Conservation Foundation, there are only 16,000 reticulated giraffes in the wild, down from 36,000 approximately three decades ago.
- Reticulated giraffes typically have brown and orange spots. The last recorded spotless reticulated giraffe was born in a Tokyo zoo in 1972.
- Brights Zoo has launched a Facebook poll to pick a name for the giraffe, which was born on July 31. People have until September 4 to cast their votes.
- The choices are Kipekee (unique), Firyali (unusual or extraordinary), Shakiri ("she is most beautiful"), and Jamella ("one of great beauty").
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| 5 | | Real estate magnate Srettha Thavisin has become Thailand's 30th prime minister. Srettha's appointment comes after pro-military lawmakers blocked the progressive Move Forward Party, which won a May election, from forming a government. More: - Srettha, the founder of the Pheu Thai Party, which came second in the election, will lead a coalition government consisting of 11 parties.
- The coalition's agenda includes fostering economic growth, increasing the minimum wage, legalizing medical marijuana, and implementing democratic reforms while maintaining the royal defamation law.
- Srettha's appointment following a parliamentary vote concludes months of uncertainty, legal disputes, and negotiations.
- It coincided with the return of former Prime Minister Thaksin Shinawatra, who was ousted by the military in 2006.
- Thaksin, who was sentenced on corruption charges in 2008, was taken to jail shortly after he landed in Bangkok on Tuesday.
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| 6 | | The U.S. Food and Drug Administration (FDA) has approved a Pfizer vaccine that safeguards infants against respiratory syncytial virus (RSV), the leading cause of infant hospitalization in the U.S. The drugmaker plans to make it available to the public by late October or early November. More: - This is the first time that the FDA approves an RSV vaccine and the second time it authorizes a preventive treatment for the virus.
- The vaccine's efficacy was found to be about 82% for preventing severe disease in newborns during their initial 90 days of life and around 70% during the first six months.
- Despite concerns about a slightly higher rate of premature births among vaccinated mothers, Pfizer said that the difference is statistically insignificant and plans to investigate risks in a post-marketing study.
- The Centers for Disease Control and Prevention (CDC) has to give the go-ahead before Pfizer can launch the vaccine.
Zoom Out: - The CDC estimates that RSV leads to 58,000 to 80,000 hospitalizations and 100 to 300 deaths for children under the age of 5 every year.
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 | Writer | | Born and raised in the Bay Area, Robel is passionate about all things tech, venture, and financial education. He has previously served both universities and state governments in their engagement strategy and tracking legislation. | | This newsletter was edited by NO ACCOUNT ASSOCIATED WITH THE EDITOR | |
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