Joseph Altobello

Alexander Perry

Craig Kennison

James Hardiman

Noah Zatzkin

Tristan Thomas-Martin

Frederick Wightman

Robin Farley

Alice Wycklendt

Arthur Nagorny

Joseph Nolan

Megan Alexander

Megan Christine Alexander

Megan Claff

Sabahat Khan

Scott Stember

Sean Wagner

Stephen McGregor

- Polaris Inc. announced its decision to **separate Indian Motorcycle** into a standalone company and sell a majority stake to Carolwood LP.  **[931015_0001628280-25-044839_exhibit991pressrelease.htm:0]** 
- The transaction is expected to be **accretive to Polaris’ annualized adjusted EBITDA by approximately $50 million** and to **adjusted earnings per share by approximately $1.00**, with closing anticipated in the **first quarter of 2026**.  **[931015_0001628280-25-044839_exhibit991pressrelease.htm:0]** 
- Indian Motorcycle contributed approximately **$478 million**, or **7.0%**, of Polaris’ revenues for the trailing twelve-month period ended June 30, 2025.  **[931015_0001628280-25-044839_exhibit991pressrelease.htm:0]** 
- Polaris provided preliminary Q3 2025 results, expecting sales at the **high end of its $1.6 billion to $1.8 billion guidance range** and adjusted EPS in the range of **$0.31 to $0.41**.  **[931015_0001628280-25-044839_exhibit991pressrelease.htm:2]** 
- The company expects to record estimated pre-tax impairment charges of approximately **$275 million to $325 million** in Q3 2025 related to the divestiture.  **[931015_0001628280-25-044839_pii-20251010.htm:2]**

Polaris to Separate Indian Motorcycle, Provides Preliminary Q3 2025 Results

- **Polaris Industries** is selling its **Indian Motorcycle** brand to **Carolwood LP**, a private equity firm, with the transaction expected to close in **Q1 2026**.  **[931015_9989aa50bde2467f92ea3902acc68146]** 
- The deal is projected to boost Polaris's adjusted **EBITDA by approximately $50 million annually** and increase adjusted **earnings per share by about $1**.  **[931015_9989aa50bde2467f92ea3902acc68146]** 
- Indian Motorcycle contributed approximately **$478 million**, or **7%**, of Polaris's total revenue over the past 12 months.  **[931015_9989aa50bde2467f92ea3902acc68146]** 
- This strategic divestiture aims to sharpen Polaris's focus on its parts business and areas with stronger growth potential.  **[931015_9989aa50bde2467f92ea3902acc68146]**

Polaris Announces Sale of Indian Motorcycle Brand

- Polaris Inc. announced its decision to separate **Indian Motorcycle** from its portfolio, selling a majority stake to **Carolwood LP**, an independent private equity firm.  **[931015_20251013CG96560:0]** 
- The transaction is expected to be accretive to Polaris' annualized adjusted EBITDA by approximately **$50 million** and to adjusted earnings per share (EPS) by approximately **$1.00**.  **[931015_20251013CG96560:0]**  Indian Motorcycle contributed **$478 million**, or **7.0%**, of Polaris' revenues for the trailing twelve-month period ended June 30, 2025.  **[931015_20251013CG96560:0]** 
- The sale is anticipated to close in the **first quarter of 2026**.  **[931015_20251013CG96560:0]**  Polaris President of On Road and International, Mike Dougherty, plans to retire upon closing, and Mike Kennedy will become CEO of the new independent Indian Motorcycle organization.  **[931015_20251013CG96560:0]** **[931015_20251013CG96560:1]** 
- Polaris also provided preliminary Q3 2025 results, expecting sales at the high end of its **$1.6 billion to $1.8 billion** guidance range and adjusted EPS between **$0.31 and $0.41**.  **[931015_20251013CG96560:2]**

Polaris to Sell Majority Stake in Indian Motorcycle to Carolwood LP

- Horizon Surgical Systems announced the completion of the **world's first robotic-assisted cataract surgery** using its **Polaris™ platform** on **October 8, 2025**.  **[931015_dadfa2c96dcd474b860e64c209336d97_0]** 
- The Polaris™ platform is an **AI-supported and robotics-enabled surgical system** developed specifically for ophthalmology, designed to enhance precision and consistency in eye surgery.  **[931015_dadfa2c96dcd474b860e64c209336d97_0]** **[931015_dadfa2c96dcd474b860e64c209336d97_1]** 
- Horizon Surgical Systems plans to treat additional patients and demonstrate expanded capabilities, with the ultimate goal of securing **U.S. FDA approval and commercialization** for Polaris™.  **[931015_dadfa2c96dcd474b860e64c209336d97_0]** 
- Currently, Polaris™ is for **investigational use only** and has not yet received FDA approval.  **[931015_dadfa2c96dcd474b860e64c209336d97_1]**

Horizon Surgical Systems Completes First Robotic-Assisted Cataract Surgery

- Cheer Holding, Inc. announced the pricing of a best-efforts public offering expected to generate approximately **$8.5 million** in gross proceeds.  **[931015_35b0b633c76c4f11a6f1e503c43381ba_0]** 
- The offering consists of **12,686,565 units**, each priced at **$0.67**, with each unit comprising one Class A ordinary share (or a pre-funded warrant), one Series A warrant, and one Series B warrant.  **[931015_35b0b633c76c4f11a6f1e503c43381ba_0]** 
- Both the Series A and Series B warrants will have an exercise price of **$0.7035 per Class A Share**.  **[931015_35b0b633c76c4f11a6f1e503c43381ba_0]** 
- The offering is anticipated to close on or about **October 2, 2025**, with net proceeds designated for **general working capital and corporate purposes**, including sales and marketing expenses for user acquisition.  **[931015_35b0b633c76c4f11a6f1e503c43381ba_0]**

Cheer Holding Prices $8.5 Million Public Offering

- Encoded Therapeutics announced that the U.S. FDA granted **Regenerative Medicine Advanced Therapy (RMAT) designation** to **ETX101** for SCN1A+ Dravet syndrome, based on preliminary clinical evidence.  **[931015_9c4cc9f910d74536bd6a919ed5562e07_0]** 
- The company anticipates completing enrollment in its POLARIS dose-escalation clinical studies and presenting interim clinical efficacy data in **4Q25**.  **[931015_9c4cc9f910d74536bd6a919ed5562e07_0]** 
- Encoded's North Carolina **GMP manufacturing facility** is now fully operational and has initiated production of ETX101 to support pivotal trials expected in **1H26**.  **[931015_9c4cc9f910d74536bd6a919ed5562e07_0]** **[931015_9c4cc9f910d74536bd6a919ed5562e07_1]**

Encoded Therapeutics Receives FDA RMAT Designation for ETX101

Polaris (PII)