Oakland County International Airport Renames Aug. 11 Event to Festival of Flight
The Oakland County International Airport’s (OCIA) annual Open House and Air Show has been renamed Festival of Flight. It will take place from 9 a.m.-4 p.m. Aug. 11 and will feature a variety of air show performers, aircraft displays, a Kids Zone Play Area by Oakland County Parks and Recreation, and a health fair hosted by the Oakland County Health Division.
Guests will have the opportunity to explore a diverse array of planes and military vehicles on display, watch performers in the air and on stage, and take airplane and helicopter rides for $50 per person.
Admission and parking to the Festival of Flight is free for all attendees.
Visit here for more details.
Lineage Inc. in Novi Announces Closing of Initial Public Offering
Lineage Inc. in Novi has announced the closing of its underwritten initial public offering of 56,882,051 shares of its common stock at a public offering price of $78.00 per share. The net proceeds from the offering were approximately $4.2 billion, after deducting underwriting discounts and commissions and estimated expenses payable by the company.
Lineage officials say they intend to use the net proceeds received from the offering to repay borrowings outstanding under its delayed draw term loan, repay borrowings outstanding under its revolving credit facility, fund one-time cash grants to certain of its employees in connection with this offering and estimated cash to pay tax withholding obligations associated with stock grants and redeem its Series A preferred stock.
Following such uses, the company expects to use the remaining net proceeds for general corporate purposes, which may include the repayment of additional borrowings outstanding under its revolving credit facility.
Lineage’s common stock began trading on the Nasdaq Global Select Market on July 25 under the ticker symbol “LINE.”
In Related News: Lineage Foundation for Good, the independent philanthropic arm of Lineage Inc., announced a pledge of $8.8 million in food donations and cash grants to community partners to address hunger and food insecurity.
To kick off this commitment, alongside Lineage’s initial public offering, Lineage Foundation for Good is donating $100,000 to the New York Common Pantry and hosting a meal kit packing event in Times Square to provide meals for families in need throughout New York. These actions further the Foundation’s long-standing mission to fight food insecurity, underscored by Lineage’s commitment to help feed the world.
Since 2020, Lineage has donated the equivalent of more than 176 million meals, including through the company’s “Share a Meal” campaign and in partnership with customers donating surplus product, as well as team members donating food to local food banks and grants issued to help build capacity at food banks around the globe.
To learn more about the Lineage Foundation for Good or get involved in its mission to fight food insecurity, visit here.
Cepton Signs Definitive Agreement to be Acquired by Koito
Cepton Inc., a Silicon Valley-based supplier high performance lidar solutions with a center of excellence in Troy, announced has signed a definitive agreement providing for the acquisition by Koito Manufacturing Co. Inc., an automotive tier one supplier, of all of the outstanding capital stock of the company not owned by Koito for $3.17 per share in an all-cash transaction.
Cepton stockholders will receive $3.17 per share in cash, which represents a premium of approximately 25.3 percent to the closing price as of Friday, July 26.
The proposed transaction will complement Koito’s existing sensor technology roadmap, while providing Cepton with the financial stability and scalability that are crucial to the commercialization of its lidar technology. After the transaction, Cepton will operate as a privately held indirect subsidiary of Koito in the U.S.
Public Invited to Honor the Life of Four Tops Founding Member Abdul ‘Duke’ Fakir
The public is invited to honor the life and legacy of Abdul “Duke” Fakir, the last original founding member of the Four Tops, during a public viewing set for 12-8 p.m. on Aug. 1 at Hitsville Next on the Motown Museum campus (2648 W. Grand Blvd.) in Detroit.
Fakir passed away peacefully at home at the age of 88 on July 22. As a music legend with a career spanning 70 years, Fakir was a beloved member of the Motown family who established his legacy as an original founding member of the Four Tops, which became globally known for hits like “I Can’t Help Myself (Sugar Pie Honey Bunch),” “Reach Out I’ll Be There,” “Baby I Need Your Loving,” and many others. Between 1964-1967, the Four Tops had 11 Top 20 hits and two No. 1 singles.
A lifelong Detroiter, Fakir continued to bring the Four Tops’ legacy to new generations, continuing to tour through 2023 and retiring earlier this year. Thank you for making the public aware of this opportunity to celebrate Duke’s incredible life and legacy.
Highline Purchases Newberry Michigan Warehouse
Highline, an internet service provider in the Upper Peninsula, has purchased the former Newberry Bottling Co. Warehouse and property. Highline says it expects to provide fiber connectivity to nearly 50,000 homes by the end of 2026.
In addition to this warehouse purchase, Highline currently is in the process of building its fiber network providing reliable internet service to more than 2,300 unserved, underserved and currently unhappily served homes in and around the Village of Newberry and McMillan Township.
New Detroit Announces 26th Multicultural Series
New Detroit Inc., the nation’s first racial justice coalition that works toward racial equity and dismantling systemic racism, announces its 26th Multicultural Series will begin again Aug. 2.
The professional development program is designed for organization leaders and executives to become catalysts for change in their organizations.
Each session offers an in-depth look into relevant issues and history of the Arab, Asian, Chaldean, Latino, Black, and Native American communities. The series is designed to build a strong and ongoing leadership network among people from various cultural communities in metro Detroit. More than 1,200 professionals have attended this program over the years.
Over the course of three months, participants will attend six day-long sessions where representatives of the participating communities provide historical and cultural information to enhance understanding and appreciation.
Sessions take place 9:30 a.m-3:30 p.m. at locations representative of the racial/ethnic culture participants will learn about for the day. The cost is $2,000. The upcoming sessions dates are:
- Aug. 2
- Aug. 9
- Aug. 23
- Sept. 6
- Sept. 20
- Oct. 4
- Oct. 17
Graduates of this program will be recognized at New Detroit’s Just Lead: Advancing Racial Equity forum Oct. 17. Register here.
Annual Blues, Brews & Barbeque Returns to Westland Aug. 2-3
The City of Westland today announced the return of the Blues, Brews & Barbecue on Aug. 2-3, 2024, at Thomas H. Brown Central Park (36601 Ford Road).
This festival celebrates slick blues music, authentic BBQ, and ice-cold domestic draft brews. With family friendly sights and sounds and free of charge, metro Detroiters are encouraged to attend and make a weekend of it.
Blues, Brews & Barbecue features a stellar lineup of 30 live performances and some of the region’s finest barbecue vendors and food trucks, all in one location. Beer enthusiasts will appreciate the extensive selection of domestic and craft brews available in the event’s beer tent.
Friday’s event concludes with a Drone Light Show, while Saturday’s finale is a fireworks display.
For a full lineup of musicians and food options, visit here.
Red Cross Partners with The District Detroit for 7th Annual Blood Drive at Little Caesars Arena
The American Red Cross, in partnership with The District Detroit, is inviting donors to give blood at its seventh annual blood drive at Little Caesars Arena to meet the needs of those who depend on lifesaving blood. All presenting donors will receive a voucher for tickets to a Detroit Tigers game and tickets to pre-season Detroit Pistons and Detroit Red Wings games.
Blood and platelet donors are critically needed, and all blood types are in demand, especially those with type O.
The blood drive will be from 10 a.m. – 8 p.m. Thursday, Aug. 8, on the Via Concourse at Little Caesars Arena, 2645 Woodward Ave., in Detroit. Complimentary parking is available in the UWM Garage at 128 W. Fisher Service Drive, which is close to the arena’s Meijer entrance to the blood drive.
In addition to receiving two tickets to a Tigers home game and two tickets each to a Pistons and Red Wings pre-season home game (while supplies last), donors will receive a $20 Amazon gift card by email and have a chance to Spin the Wheel to win an additional giveaway. To make an appointment, download the American Red Cross Blood Donor App, visit RedCrossBlood.org.
