Streetbeat News

Acquisitions Mergers

OII

Oceaneering International, Inc. (NYSE:OII) has secured multiple contracts in Q4 2023 for its Manufactured Products segment, totaling an anticipated revenue of approximately $200 million. These contracts, primarily with international oil and gas operators and marine construction companies, include significant projects in the Gulf of Mexico and the Black Sea, involving the supply of electro-hydraulic, steel tube umbilicals and supporting hardware. Production for these projects is scheduled across facilities in Panama City, Houston, and Rosyth, with final deliveries expected between Q3 2025 and Q3 2026. CEO Rod Larson highlighted these awards as a testament to Oceaneering's role in supporting global offshore energy production and customer operations.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:05 pm

BWMN

Bowman Consulting Group Ltd. (BWMN) has acquired Trudell Consulting Engineers (TCE) and its subsidiary, Vermont Underground Locators, expanding its engineering services into Vermont. The acquisition, financed through cash, seller notes, and equity, is expected to operate at an annualized net service billing run rate of approximately $4.5 million. This move is anticipated to be immediately accretive and aligns with Bowman's strategic growth plans in northern New England and Upstate New York.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:03 pm

CMND

Clearmind Medicine Inc. has received divisional patent approval in China for its psychedelic-based treatment targeting binge behaviors. This approval strengthens the company's intellectual property portfolio, which includes 15 utility patent families and a total of 51 patents and pending applications globally. The company's MEAI molecule has shown promise in pre-clinical studies for regulating binge behaviors and addiction, particularly in relation to Alcohol Use Disorder and binge drinking.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 12:52 pm

SMFL

Smart for Life, Inc. (SMFL), a global leader in Health & Wellness, has partnered with SGS Nutrasource to assist in regulatory, product development, and testing solutions. This collaboration aims to support Smart for Life's strategic expansion and acceleration of M&A activities.

Portfolio Pulse from Charles Gross

February 05, 2024 | 12:43 pm

MARA

Marathon Digital announced updates for January 2024, including the closure of the Generate Capital Acquisition, a new agreement with Hut8 for full control of new sites by April 30, a 7% increase in energized hash rate to 26.4 EH/s, and total holdings of 15,741 BTC and $1.0B in cash and BTC as of January 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 12:23 pm

MRT

Türkiye's mobility super app, Marti Technologies, has acquired all of the intellectual property and software assets of Zoba. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 12:12 pm

EVBG

Everbridge, Inc. (EVBG) is set to be acquired by private equity firm Thoma Bravo in an all-cash transaction valued at approximately $1.5 billion. Shareholders of Everbridge will receive $28.60 per share in cash.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 12:11 pm

AMG

AMG has completed its investment in Ara Partners, a private markets firm that specializes in industrial decarbonization. This move is aimed at enhancing AMG's exposure to secular growth areas.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 12:02 pm

RNSDF

STLA

Stellantis (NYSE:STLA) Chairman John Elkann refuted rumors of a potential merger with Renault (OTC:RNSDF), stating there are no plans for such a merger and emphasizing the focus on executing Stellantis's long-term business plan. This comes after speculation fueled by a report suggesting the French government was considering a merger between the two automakers. Meanwhile, Renault postponed the IPO of its EV and software arm, Ampere, planning to fund its development until 2025.

Portfolio Pulse from Benzinga Neuro

February 05, 2024 | 11:59 am

NRXP

NRx Pharmaceuticals announced the creation of Hope Therapeutics to focus on NRX-100 (now HTX-100), aimed at treating suicidal depression. NRx and its shareholders will own the new company, receiving shares as a dividend plus a royalty coupon on HTX-100 sales, pending Board approval. The arrangement is structured to avoid taxation for shareholders.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 11:52 am