Streetbeat News

Acquisitions Mergers

NEPT

Neptune Wellness Solutions Inc. (NASDAQ:NEPT) has appointed Stifel Nicolaus Canada Inc. as the exclusive financial advisor for its organic baby food and toddler brand, Sprout Organics. Stifel will provide financial advisory, investment banking services, and strategic advice for reviewing divestiture alternatives for Sprout Organics. Initially, Neptune had plans for a spinoff of Sprout Organics, but is now considering different strategies with Stifel's guidance to maximize shareholder value. Neptune is committed to keeping stakeholders informed throughout the process.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 2:08 pm

BTCS

BTCS Inc. (NASDAQ:BTCS), a blockchain technology company, issued a shareholder letter highlighting a successful 2023 with a 82% year-over-year increase in the fair market value of its crypto and cash to $26.7 million. The company anticipates over $6 million in net income for 2023, attributing this to the early adoption of new FASB accounting rules. BTCS plans to launch new Ethereum-based products and anticipates the introduction of an Ethereum ETF in 2024, although the timing is uncertain. The company also emphasized strategic cost-cutting and operational efficiency to navigate the challenging market.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:58 pm

DWAC

Shares of Digital World Acquisition Corp. (NASDAQ:DWAC) dropped 8.02% in premarket trading despite Donald Trump's win in the New Hampshire Republican presidential primary. The decline follows a significant rise in the stock price on Monday and Tuesday due to anticipation of Trump's victory and an SEC filing suggesting progress in DWAC's planned merger with Trump Media and Technology Group (TMTG), which owns Truth Social. The merger has faced delays due to regulatory scrutiny and shareholder hesitance.

Portfolio Pulse from Shanthi Rexaline

January 24, 2024 | 1:52 pm

CYTO

Altamira Therapeutics has filed a provisional patent application for its OligoPhore nanoparticles, which target various KRAS mutations in cancer treatment. Their polyKRASmut siRNA has demonstrated effectiveness in knocking down 65-91% of KRAS mutations across several cancer cell lines. This development is expected to bolster the intellectual property for Altamira's AM-401 nanoparticles aimed at treating KRAS-driven cancers.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:49 pm

GNS

LZGI

Genius Group Limited (NYSE:GNS) and FatBrain AI (OTC:LZGI) have signed a definitive merger agreement. The combined businesses are estimated to have generated approximately $80 million in gross revenue in 2023, doubling year-on-year. The merger aims to create a growth platform for AI education and enablement, targeting students, entrepreneurs, enterprises, and governments. The merger is subject to shareholder and NYSE approval, with FatBrain AI's CEO and Executive Chair joining Genius Group's Board post-merger.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:34 pm

NKSH

National Bankshares, Inc. has entered into an agreement to acquire Frontier Community Bank. As part of the deal, Frontier shareholders can opt to receive either 0.4250 shares of National Bankshares stock or $14.48 in cash for each share of Frontier they own.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:33 pm

SLNH

Soluna Holdings, Inc. (NASDAQ:SLNH) has reduced its convertible debt by over $4M and plans a capital raise for a new AI venture. The company has made progress on its green data center projects, including Project Dorothy and Project Kati, and has signed a new 8.8 MW customer for Project Sophie. Soluna's data centers have been found to have an 18% lower carbon footprint than traditional data centers. Operational metrics and project updates were provided, with a focus on installed hashrate, power capacity, and energy consumption.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:29 pm

GSK

Elegen and GSK have entered into a multi-year collaboration and licensing agreement. Elegen will provide GSK with its cell-free synthetic DNA production technology and receive up to $35 million in near-term financial and development support fees. The agreement includes upfront fees, purchase commitments of Elegen's ENFINIA DNA, and potential equity investment from GSK. Elegen is also eligible for near-term milestone payments for the development of new product features.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:21 pm

CG

Carlyle Group (CG) has announced an investment into Monogram LLC, a move that signifies Carlyle's interest in expanding its portfolio and possibly leveraging Monogram's market position. The details of the investment, including the amount and the specific terms, have not been disclosed. Investors will be watching to see how this investment will be integrated into Carlyle's strategy and what synergies it may bring.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:20 pm

CG

Carlyle Group has acquired a private student loan portfolio worth $415 million. This move could indicate Carlyle's strategic interest in the private lending space, particularly in the education sector. The acquisition may also reflect the company's confidence in the creditworthiness of student borrowers and the stability of the student loan market.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:20 pm