Senior notes received AAA ratings from S&P Global Ratings and AAA (sf) ratings from Morningstar DBRS

CAMPBELL, Calif., Oct. 30, 2026 /PRNewswire/ — Aven Financial closed its first asset-backed securities offering, a $304.2 million transaction that was oversubscribed. The offering, AVNHT 2026-HE1 Trust, is backed by 6,786 fixed-rate, fixed-term receivables issued under the Aven Home Equity Card, the company’s flagship HELOC credit card product. The receivables are secured by first- or second-lien mortgages on residential properties.

The senior Class A-1A and Class A-1B notes, totaling approximately $234.5 million, received AAA ratings from S&P Global Ratings and AAA (sf) ratings from Morningstar DBRS. S&P Global Ratings assigned ratings ranging from AA to B to Classes B through F. Morningstar DBRS rated Class B at AA (high) (sf).

“We’ve built a business around making home equity financing work better for both homeowners and investors,” said Aven co-founder and CEO Sadi Khan. “Our first 144A issuance builds on our experience in the rated debt markets and marks our first transaction rated by S&P Global Ratings. We’re pleased to have completed an oversubscribed offering, with investors new to Aven. This response shows the market sees value in what we’re building.”

Barclays served as structuring lead manager and lead bookrunner, and Goldman Sachs served as co-lead manager and joint bookrunner. Funds affiliated with Davidson Kempner Capital Management LP contributed assets to the transaction and purchased Class G and XS notes at closing. WSFS served as participation agent, trustee, custodian and paying agent, among other roles. Mayer Brown represented Aven. Hunton Andrews Kurth represented the co-sponsor, and Morgan Lewis represented the bookrunners.

The notes were offered to qualified institutional buyers under Rule 144A and Regulation S of the Securities Act of 1933.

About Aven

Aven is building financial products for homeowners that lower costs and make banking more efficient and convenient. The company has built the first machine-banking platform, using robotics and software to automate financial services and offer lower-cost products at scale. Its flagship Home Equity Visa Card combines a home equity line of credit with the convenience of a credit card and can be fully approved in minutes. Aven also offers high-yield checking accounts, home improvement loans, rewards credit cards, digital asset-backed credit cards and other financial products. Founded in 2019, Aven has helped consumers save more than $400 million in interest costs as of September 2026.

Aven is a financial technology company, not a bank. Banking services are provided by Coastal Community Bank, Member FDIC.

Aven Visa credit cards are issued by Coastal Community Bank pursuant to a license from Visa U.S.A. Inc. Aven (NMLS #2042345) accounts are held by Coastal Community Bank (NMLS #462289), Member FDIC. Equal Housing Lender. Learn more at www.aven.com.

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SOURCE Aven Financial, Inc.

Johns will assume the role on January 1, succeeding longtime president Michael F. Britt

MECHANICSBURG, Pa., Oct. 30, 2026 /PRNewswire/ — The Board of Directors of leading engineering firm Modjeski and Masters elected Kevin W. Johns, P.E. as its next president. He will assume the role on January 1, 2027.

For more than 133 years, Modjeski and Masters has been defined by technical excellence, client service, innovation, and stewardship. Johns will build on that foundation while guiding the firm’s continued growth and preserving its culture and independence.

The board selected Johns based on his leadership, sound judgment, and vision for the firm’s future. His commitment to employees, clients, and long-term success will guide his work as president.

“I have worked closely with Kevin through the years as he has progressed in responsibility across increasingly complex leadership and project roles. He has consistently shown himself to be informed, collaborative, and willing to make tough decisions, including during major decision-making moments where his judgment helped guide project outcomes in a positive direction,” said outgoing president and CEO Michael F. Britt.

Since joining Modjeski and Masters in 1998, Johns has held numerous leadership positions, including director of the Movable Bridge Business Unit, senior vice president, board member, and chairman of the board. His experience includes growing teams, expanding capabilities, and leading through change while advancing the firm’s legacy of quality and technical excellence.

“Leading a 133-year-old firm is both an honor and a humbling responsibility. Modjeski and Masters is well positioned for the next 100 years, and I am committed to strengthening our legacy while ensuring a prosperous future for our employees and our clients,” said Johns.

As part of the transition, Johns will step down as director of the Movable Bridge Business Unit, and Lee Lentz will assume that role. The leadership handover will prioritize continuity of client service, clear communication, and support for ongoing project commitments.

The transition reflects Modjeski and Masters’ long-standing approach to leadership continuity and its commitment to the technical excellence and client relationships that have shaped the firm for generations.

About Modjeski and Masters

Modjeski and Masters is one of the world’s leading bridge engineering firms, with a reputation for technical excellence and innovation that goes beyond current standards. Established 133 years ago, the firm is responsible for the design and maintenance of some of our nation’s most recognizable structures. Services include fixed and movable bridge design, inspection and rehabilitation, and all facets of life-cycle maintenance, research and code development. For more information, including in-depth videos of Modjeski and Masters at work, please visit www.modjeski.com.

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SOURCE Modjeski and Masters

After years of acquisition interest, the family-owned pharmacy technology company says it will not sell to a private-equity or corporate consolidator—preserving long-term choice, personal service and vendor freedom for independent pharmacies

BOHEMIA, N.Y., Oct. 30, 2026 /PRNewswire/ — Following more than a decade of acquisitions, corporate consolidation, ownership changes and discontinued software platforms across the pharmacy software industry, Datascan announced a long-term commitment to remain independently owned and dedicated exclusively to serving independent community pharmacies.

Datascan President and Owner Kevin Minassian said the company is not being positioned for sale to a private-equity group, corporate consolidator or industry roll-up. Instead, Datascan will continue investing in its technology, employees, customer support and long-term relationships with independent pharmacy owners.

The announcement comes at a time when the number of independently owned pharmacy software companies has continued to shrink.

Pharmacy owners have watched longtime software vendors get acquired, products get discontinued and support organizations change almost overnight. Some have been forced to replace software systems they believed would support their businesses for years. Others have experienced higher prices, reduced service and new requirements to use specific payment processors, claims switches or other vendors selected by the software company.

According to Minassian these changes have left many independent pharmacies with fewer meaningful choices and less control over the technology relationships that affect their businesses every day.

“Independent pharmacy owners already have enough outside pressures working against them,” Minassian said. “They should not also have to wonder whether their software company will be sold, whether their system will be discontinued, whether the people they trust will still be there or whether they are going to be forced into another vendor relationship simply because it creates more profit for the software company.”

Independent pharmacy owners can request a complimentary Datascan demonstration to explore whether Datascan Pharmacy Software is the right fit for their pharmacy’s needs.

A Decision Forged Through Acquisition Interest

Over the last several years, Datascan has received repeated acquisition interest from companies seeking to purchase the business. One opportunity progressed far enough that Minassian seriously considered selling. The financial offer was significant, but the proposed terms changed late in the process.

Datascan walked away from the transaction.  Minassian said that experience ultimately gave him greater clarity about the future of the company.

Minassian has begun discussing with his daughter(s) the possibility that they could eventually become the third generation of the family to participate in the ownership or leadership of Datascan. While they are young and focused on education, it is a consideration for a future career, he says he wants to preserve Datascan so that opportunity remains available to his children.

A Public Commitment to Remain Independent

Minassian said Datascan’s long-term plan is now clear: the company will remain independently owned and will not be sold into the private-equity and corporate consolidation cycle reshaping the pharmacy software industry.

Future succession could include continued family ownership or an internal transition involving members of the Datascan team, but the company is not being prepared for an outside sale or private-equity exit.

“I am making a clear commitment,” Minassian said. “We are not building Datascan so we can package it up and sell it to the highest bidder. We are building it to last.”

Continued Investment in Pharmacy Technology

Datascan has spent the last several years modernizing and expanding its technology ecosystem.

The company’s ongoing investments include:

Datascans core pharmacy management platformIntegrated point-of-sale system (POS System) Patient-facing mobile applicationDelivery management ApplicationWorkflow automation and customization Central store managementLong-term care and compounding capabilitiesintegrations with nearly 100 third-party pharmacy technology providers

Minassian said those investments will continue and accelerate.

“We have been working vigorously to update and improve every part of our platform,” Minassian said. “We are not slowing down. We are continuing to modernize our technology, improve workflow, expand automation, strengthen our mobile platforms and build the next generation of tools independent pharmacies will need.”

Preserving Customer Choice

Datascan’s commitment to independence also includes protecting the ability of pharmacy owners to choose the vendors and services that are best for their businesses.

The company said it will not require customers to use a particular credit card processor, insurance claims switch or other third-party vendor solely because the arrangement creates an additional revenue stream for Datascan.

Datascan feels its customers should be able to choose their credit card processor, switch, hardware and 3rd party vendors that make the most sense for them. They refuse to lock customers into relationships they did not choose.  Datascan also reaffirmed its commitment to reasonable, transparent pricing without relying on forced add-ons, surprise fees or mandatory vendor arrangements.

Support as a Long-Term Investment

20 Seconds or Less:  Average time for calls to be answered by our support team (*Data comes from phone system report last 12 months)Only 9 % of all calls went beyond 2 minutes on hold for support 11+ Years: Average tenure of a Datascan Employee 

Minassian said customer support will remain one of Datascan’s highest priorities.

While some acquired technology companies reduce staffing, outsource customer service or consolidate support operations to lower costs, Datascan intends to continue investing in experienced support personnel and programmers who understand both the software and the day-to-day realities of pharmacy operations.

The company has also committed that it will not replace anyone on the support team with an AI agent.   Customers can expect live, knowledgeable, and quick response support.  Data shows over the last 12 months, the average wait time for support calls was under 20 seconds, with only 9% of all calls waiting 2 minutes or greater for a representative.  

Datascan points out they have the highest review scores across the internet within the industry.  “Anyone can claim to offer great support. Our customers say it for us. Read our reviews. Talk to the pharmacies that use our software. Our clients know the people answering the phone, and our team knows our clients.”

The average Datascan employee has been with the company for more than 11 years, creating institutional knowledge and customer relationships that Minassian considers central to the company’s long-term value.

Ensuring Independent Pharmacies Continue to Have a Choice

Datascan serves independently owned community pharmacies rather than national retail chains or large corporate pharmacy groups.  Minassian said that focus will not change.

“We understand why independence matters because we are independent too,” Minassian said. “We know what it is like to compete against much larger companies. We know what it is like to make decisions based on what is right for customers, employees and the long-term health of the business—not what produces the best return for an outside investor this quarter.”

About Datascan

Datascan is an independently owned pharmacy software company serving independently owned community pharmacies throughout the United States and the Bahamas.

Its integrated technology ecosystem includes Datascan Pharmacy Software, Datascan Point of Sale, Mobile Scripts, Datascan Delivery, Central Store Management, customizable workflow, compounding, long-term care capabilities and integrations with nearly 100 third-party pharmacy technology providers.

Datascan’s sole purpose is to help independent community pharmacies operate more efficiently, remain profitable and provide exceptional patient care through reliable, powerful technology backed by knowledgeable, human support.

For more information, visit Datascan Pharmacy Software

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SOURCE Datascan Pharmacy