Ebang International Holdings Inc
Change company Symbol lookup
Select an option...
EBON Ebang International Holdings Inc
MMV MultiMetaVerse Holdings Limited
TMUS T-Mobile US Inc
ADBE Adobe Inc
YJ Yunji Inc
CGEN Compugen Ltd
BBIO BridgeBio Pharma Inc
WRN Western Copper and Gold Corp
DD Dupont De Nemours Inc
EDSA Edesa Biotech Inc

Information Technology : Technology Hardware, Storage & Peripherals | Small Cap Blend
Based in China
Company profile

Ebang International Holdings Inc is a China-based holding company principally involved in Application Specific Integrated Circuit (ASIC) chip design and the manufacture and sales of Bitcoin mining machines. The Company also provides telecommunication products and management and maintenance services. The Company conducts its businesses in Mainland China, Hong Kong, the United States and other countries.

Closing Price
Day's Change
-0.17 (-2.60%)
B/A Size
Day's High
Day's Low
(Heavy Day)

10-day average volume:

Unisys Transfers a Portion of its U.S. Defined Benefit Pension Obligations to F&G Through a nearly $265 Million Annuity Contract

4:58 pm ET March 23, 2023 (PR Newswire) Print

This agreement marks the third U.S. retiree buyout since 2021 and reflects continuation of efforts to reduce pension liabilities, volatility and cost while securing retiree pension benefits with highly-rated insurance companies

Unisys Corporation(NYSE: UIS) today announced it has closed agreements with F&G Annuities & Life, Inc. (NYSE: FG) ("F&G") to purchase group annuity contracts totaling approximately $265 million through which Unisys will transfer projected benefit obligations valued slightly less than this amount related to certain retirees under one of the company's U.S. pension plans to F&G.

Unisys anticipates that this action will result in a one-time, non-cash, pre-tax settlement charge of approximately $193 million. Because the purchase will be made by the pension trust, there will be no impact on the company's cash position.

This action brings the value of U.S. defined benefit pension obligations removed from the company's balance sheet since 2020 to over $1 billion and global pension obligations to over $1.7 billion.

"Purchasing these annuity contracts demonstrates the company's continued commitment to de-risking its pension obligations," said Unisys Chief Financial Officer Deb McCann.

As part of the transfer, F&G's insurance subsidiaries, Fidelity & Guaranty Life Insurance Company and Fidelity & Guaranty Life Insurance Company of New York, will assume responsibility for pension benefits for approximately 8,650 retirees and beneficiaries with monthly benefits lower than certain thresholds. There will be no changes to the gross amount, timing, or form of the monthly pension payments.

About UnisysUnisys is a global technology solutions company that powers breakthroughs for the world's leading organizations. Our solutions - digital workplace; cloud, applications & infrastructure; enterprise computing; and business process - help our clients challenge the status quo and create new possibilities. To learn how we deliver breakthroughs for our clients, visit unisys.com.

Follow Unisys on Twitterand LinkedIn.

About F&GF&G Annuities & Life, Inc. is committed to helping Americans turn their aspirations into reality. F&G is a leading provider of insurance solutions serving retail annuity and life customers and institutional clients and is headquartered in Des Moines, Iowa.

Forward-Looking StatementsAny statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements rely on assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Additional discussion of factors that could affect Unisys future results is contained in our periodic filings with the Securities and Exchange Commission.

RELEASE NO.: 0323/9902

Unisys and other Unisys products and services mentioned herein, as well as their respective logos, are trademarks or registered trademarks of Unisys Corporation. Any other brand or product referenced herein is acknowledged to be a trademark or registered trademark of its respective holder.



View original content:https://www.prnewswire.com/news-releases/unisys-transfers-a-portion-of-its-us-defined-benefit-pension-obligations-to-fg-through-a-nearly-265-million-annuity-contract-301780084.html

SOURCE Unisys Corporation


comtex tracking


Earnings Calendar and Events Data provided by |Terms of Use| © 2023 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2023. All rights reserved.