Streetbeat News

Acquisitions Mergers

SBET

SharpLink Gaming Ltd. (SBET) sold its fantasy sports and sports game development units to RSports Interactive for $22.5 million in cash. The sale allows SharpLink to repay $14.9 million in debt, redeem a senior convertible debenture for $4.5 million, and become free of interest-bearing debt. The transaction is expected to reduce operating expenses, improve cash flow, strengthen the balance sheet, and help SharpLink regain Nasdaq compliance. COO Chris Nicholas resigned following the sale. The deal focuses SharpLink on performance marketing for sports betting and iGaming.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:35 pm

VCIG

VCI Global Limited (NASDAQ:VCIG) has secured a consultancy deal with a Singapore-based Fin-MedTech Medical Group for its upcoming IPO on Nasdaq, expected to be completed in 2024/2025. VCI Global will provide services including equity structure, capital market strategy, and regulatory approval assistance. The company will be compensated in shares, with estimated income from the deal between USD 4 million to USD 8 million.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:22 pm

CSLM

Fusemachines, an AI talent solutions provider, has signed a definitive agreement for a business combination with CSLM Acquisition Corp. The merger values the combined entity at $200 million and is anticipated to be finalized by the end of Q2 2024. Upon completion, the company is expected to list on Nasdaq under the ticker symbol 'FUSE'.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:22 pm

AZN

BMY

GILD

GRCL

JNJ

LEGN

NVS

The FDA is issuing a classwide black box warning for all approved CAR-T therapies due to the risk of secondary T-cell cancers. This affects products from Bristol Myers Squibb (BMY), Gilead Sciences' Kite Pharma (GILD), Johnson & Johnson (JNJ), Novartis (NVS), and Legend Biotech Corporation (LEGN). The warning will be included on the labels of six commercial CAR-T therapies. Despite this, the FDA maintains that the benefits of these products outweigh the risks. AstraZeneca (AZN) recently acquired Gracell Biotechnologies (GRCL) to enhance its cell therapy portfolio.

Portfolio Pulse from Vandana Singh

January 23, 2024 | 1:19 pm

PUBGY

UBS

UBS Group AG has launched its largest branding campaign since 2016, with the slogan 'Banking is our craft,' to drive growth and enhance its image following the acquisition of Credit Suisse. The campaign, created with Publicis Groupe SA and Prophet, will involve a significant investment in various advertising channels. It will initially launch in Britain and the U.S., followed by 10 other countries. UBS shares saw a slight decrease of 0.12% in premarket trading.

Portfolio Pulse from Lekha Gupta

January 23, 2024 | 1:19 pm

BIAF

bioAffinity Technologies, Inc. (NASDAQ:BIAF, BIAFW) announced that its subsidiary OncoSelect Therapeutics, LLC was granted an Indian patent for cancer treatment using porphyrin compounds. This patent is a significant addition to bioAffinity's portfolio, which includes 16 awarded patents and 23 pending applications. The company's first product, CyPath® Lung, is a noninvasive diagnostic test for early-stage lung cancer using porphyrin-based technology.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:17 pm

BAH

Booz Allen Hamilton, through its venture capital arm Booz Allen Ventures, LLC, has invested in Albedo to develop a Very Low Earth Orbit (VLEO) satellite constellation. This investment aims to enhance satellite imagery services for national security, commercial, and climate needs. Albedo's VLEO satellites will provide ultra-high resolution imagery, combining optical and infrared sensors. The investment aligns with Booz Allen's focus on dual-use commercial technology solutions and expands its space capabilities. Booz Allen has a history of delivering space solutions to various government agencies and has made several strategic investments in dual-use commercial technologies since 2022.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:16 pm

CSLM

Fusemachines Inc., an AI talent and education solutions provider, is set to list on NASDAQ through a business combination with CSLM Acquisition Corp., a special purpose acquisition company (SPAC). This move will allow Fusemachines to become a publicly traded company and provide it with access to the public investment markets.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:16 pm

ANSS

Ansys (NASDAQ:ANSS) has announced an agreement to acquire a minority stake in Humanetics, a leader in human safety systems and sensor technologies. This move strengthens their existing partnership and aims to advance innovation in the human safety engineering ecosystem, particularly in the automotive industry. The collaboration will leverage digital twins to integrate physical and virtual safety solutions, enhancing product offerings. Humanetics is known for its crash test dummies and ergonomics software, RAMSIS, which complements Ansys' simulation software, including the LS-DYNA crash test solution. The transaction is pending customary closing conditions and regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:11 pm

ANIX

Anixa Biosciences, Inc. (NASDAQ:ANIX) announced that its collaborator, Cleveland Clinic, received a 'Decision to Grant' notice from the Japan Patent Office for an ovarian cancer vaccine patent. This extends the geographic coverage of the patent, which already includes Europe and the U.S. The vaccine technology, exclusively licensed by Anixa, showed pre-clinical promise in preventing epithelial ovarian carcinoma. The research is supported by the National Cancer Institute's PREVENT Program.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:06 pm