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Acquisitions Mergers

FMST

HYMC

METC

Ramaco Resources, Inc. (METC) forecasts a nearly 50% increase in Q4 2023 net income and a 25% rise in Adjusted EBITDA, with steady coal shipments and a record sales volume. The company also acquired a preparation plant to enhance efficiency. Hycroft Mining Holding Corporation (HYMC) begins its 2024 drilling program at the Hycroft Mine, targeting high-grade silver. Foremost Lithium Resource & Technology Ltd. (FMST) starts drilling at its Zoro Lithium Property, aiming for significant resource expansion.

Portfolio Pulse from Austin DeNoce

February 13, 2024 | 10:50 pm

ES

Eversource Energy has signed a definitive agreement to sell its 50% ownership in South Fork Wind and Revolution Wind to Global Infrastructure Partners. The deal will provide Eversource with approximately $1.1 billion in cash proceeds upon closing and allows it to exit these projects, albeit with some retained cost-sharing obligations for Revolution Wind's construction.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 10:46 pm

GAN

GAN Limited shareholders approved the merger with a subsidiary of SEGA SAMMY CREATION INC., with over 95% votes in favor. The merger, expected to close in late 2024 or early 2025, will result in GAN delisting from Nasdaq and becoming a private entity. Each GAN share will convert into $1.97 in cash, less applicable taxes.

Portfolio Pulse from Happy Mohamed

February 13, 2024 | 10:02 pm

SGML

Sigma Lithium (NASDAQ:SGML) has received a letter of intent from the Development Bank of Brazil (BNDES) for additional funding for its Grota do Cirilo lithium project in Brazil. The company plans to invest $100 million in a second processing plant to double its output. The project, which has received full environmental licensing, aims to become the world's fourth-largest lithium mining complex. Despite a recent downturn in lithium prices, Sigma remains optimistic about its strategic position and its focus on sustainable lithium production.

Portfolio Pulse from Stjepan Kalinic

February 13, 2024 | 9:56 pm

CPB

SOVO

Campbell Soup Company (CPB) and Sovos Brands, Inc. (SOVO) have announced their compliance with the FTC's Second Request, initiating a 30-day waiting period for Campbell's proposed acquisition of Sovos Brands. This period is expected to end on March 11, 2024, with the transaction likely to close shortly after. Both companies express optimism about the acquisition, highlighting the strategic fit and growth potential.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:56 pm

WELL

Welltower Inc. plans to acquire a $969M portfolio of 25 active adult communities from Affinity Living Communities, forming a long-term strategic partnership. The acquisition, funded by cash and $523M of below-market rate debt, expands Welltower's Wellness Housing portfolio to nearly 25,000 units. The communities, mainly in the Pacific Northwest, are expected to cater to a rapidly growing 55+ population. The deal, closing in tranches, will see Affinity continue managing the properties under a terminable contract.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:49 pm

CDXS

Codexis, Inc. (CDXS) has secured a strategic financing deal worth up to $40 million with Innovatus Capital Partners to strengthen its cash position and support the development and commercialization of its ECO Synthesis manufacturing platform for RNAi therapeutics. The deal includes $30 million upfront and an additional $10 million upon reaching certain revenue thresholds. This financing is expected to extend Codexis' cash runway through the end of 2026 and support the creation of an ECO Synthesis Innovation Lab for siRNA production.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:47 pm

SCVL

Shoe Carnival has announced the acquisition of Rogan Shoes for a total of $45 million. This strategic move is aimed at expanding Shoe Carnival's footprint and product offerings.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:44 pm

GHLD

Guild Mortgage (NYSE:GHLD) is set to acquire the retail lending assets of Academy Mortgage, significantly expanding its market presence. This acquisition will add approximately 200 branches and over 1,000 employees, including more than 600 licensed mortgage originators, to Guild. The deal is expected to increase Guild's annual origination volume by 25%, making it the 8th largest non-bank retail mortgage lender in the U.S. Both companies share a strong commitment to the purchase mortgage market and customer service, with Academy's branches transitioning to the Guild brand post-acquisition. Academy Mortgage CEO Adam Kessler will join Guild's senior leadership team. The transaction is seen as a strategic move to enhance Guild's platform, increase market share, and create long-term value by leveraging synergies and focusing on the purchase mortgage market.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:41 pm

ABNB

Airbnb Inc (NASDAQ:ABNB) reported a 17% increase in Q4 revenue to $2.22 billion, surpassing estimates. The company experienced a quarterly loss of 55 cents per share but saw gross booking value rise by 15% to $15.5 billion. Airbnb announced a $6 billion share repurchase program and provided an optimistic outlook for Q1 revenue and full-year adjusted EBITDA growth.

Portfolio Pulse from Adam Eckert

February 13, 2024 | 9:34 pm