Streetbeat News

Acquisitions Mergers

NSTB

Northern Star Investment Corp. II (NSTB) announced it will liquidate its trust account due to its inability to complete a business combination by the January 28, 2024 deadline. The liquidation will distribute approximately $10.48 per share to holders of Public Shares. NSTB expects delisting from NYSE American but intends to continue trading on the OTC Pink post-distribution. The company plans to amend its Charter to remove SPAC provisions and retain the possibility of future acquisitions. Units will separate into Public Shares and Warrants before the Distribution, with no payment for Warrants.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 10:07 pm

TELL

Tellurian Inc. shares have risen after reports that the company engaged Lazard to consider a potential sale.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:46 pm

GLBS

Globus Maritime Limited (NASDAQ: GLBS), a dry bulk shipping company, has expanded its fleet to seven vessels with the acquisition of the M/V 'Glbs Hero,' a 2024-built Ultramax dry bulk carrier. The vessel, which has a carrying capacity of about 64,000 DWT, was built at Nihon Shipyard Co in Japan and was purchased for approximately $37.5 million. This acquisition was previously announced on May 10, 2022, and increases the company's total carrying capacity to around 517,745 DWT.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:37 pm

GRIN

Grindrod Shipping has entered into a contract to sell the 2007-built Handysize bulk carrier, IVS Kingbird, for $10.4 million on January 17, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:29 pm

ES

ORSTED.CO

Ørsted and Eversource have submitted a new proposal for the Sunrise Wind project in response to New York's offshore wind solicitation. The updated project, delivering up to 924 megawatts of clean energy, is expected to complete in 2026 and is crucial for New York's renewable energy goals. Ørsted aims to become the sole owner of Sunrise Wind if the re-bid is successful, acquiring Eversource's 50% share. The project has secured major supplier and labor agreements, with final federal permits anticipated this summer. It has broad support and is making significant investments in New York's offshore wind workforce and supply chain.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:19 pm

EVTV

Envirotech Vehicles (EVTV) has been awarded an $8.57 million grant from the EPA's Clean School Bus Program to supply 25 fully electric school buses. This grant is part of a broader initiative to reduce greenhouse gas emissions and promote the use of electric vehicles in school transportation.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:18 pm

LAZ

TELL

Tellurian Inc., an LNG developer, has engaged financial advisory firm Lazard to explore a potential sale, according to Bloomberg. This move could indicate a strategic shift for Tellurian as it seeks to capitalize on the growing demand for liquefied natural gas.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:13 pm

TMUS

T-Mobile US, Inc. (NASDAQ:TMUS) reported strong fourth quarter and full-year 2023 results, with significant growth in service revenues, profitability, and cash flow. The company expects a positive outlook for FY24, with core adjusted EBITDA projected to grow by approximately 9% at the mid-point. Operating cash flow and adjusted free cash flow are also expected to increase by about 18% and 22% respectively. T-Mobile completed its merger integration and achieved the highest postpaid phone gross additions and the lowest annual churn rate in its history.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 9:02 pm

GBTC

At Benzinga's Crypto & Blockchain Outlook webinar, experts from Grayscale, Tether, and the Chamber of Digital Commerce discussed the impact of a spot Bitcoin ETF approval on the cryptocurrency market. Tether's co-founder Brock Pierce sees the approval as a positive step for American businesses and investors, while Grayscale's David LaValle remains bullish on the asset class despite expecting outflows from the Grayscale Bitcoin Trust (OTC:GBTC) following its conversion to an ETF. The panel also discussed BlackRock's pivot to embrace digital assets, the SEC's ongoing adversarial stance on cryptocurrency regulation, and the potential role of Bitcoin alongside the dollar.

Portfolio Pulse from Ivan Crnogatić

January 25, 2024 | 8:28 pm

BZFD

BuzzFeed Inc (NASDAQ:BZFD) and Vice Media are facing financial difficulties, leading to downsizing and asset sales. BuzzFeed's stock has dropped over 97% since its 2021 IPO, and it is now looking to sell its food-focused sites Tasty and First We Feast. Vice Media, overseen by Fortress Investment Group after bankruptcy, is trying to sell Refinery29 after a failed attempt to sell the entire company. Both companies are struggling with a volatile advertising market and reduced traffic, reflecting broader industry challenges for digital media.

Portfolio Pulse from Vandana Singh

January 25, 2024 | 8:06 pm