This Spirit Maker's Stock Skyrockets 162% In Premarket After Announcing Merger With Mortgage-Tech Company
Portfolio Pulse from Benzinga Neuro
Eastside Distilling, Inc. (NASDAQ:EAST) announced a merger with Beeline Financial Holdings, Inc., causing its stock to skyrocket 162% in pre-market trading. The merger includes a debt-for-equity swap and asset sale, positioning Eastside in the digital mortgage services industry.
September 05, 2024 | 10:30 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Eastside Distilling's stock surged 162% in pre-market trading after announcing a merger with Beeline Financial. The merger includes a debt-for-equity swap and asset sale, eliminating Eastside's debt and expanding its presence in digital mortgage services.
The merger announcement with Beeline Financial has led to a significant 162% increase in Eastside's stock price in pre-market trading. The strategic move includes a debt-for-equity swap and asset sale, which eliminates Eastside's debt and positions it in the digital mortgage services industry, indicating strong investor confidence and potential for growth.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100