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Acquisitions Mergers

LAES

SEALSQ Corp (NASDAQ:LAES) announced an initiative to decentralize global semiconductor manufacturing by creating Semiconductor Personalization Centers with Public-Private Partnerships and SEALCoins incentivization. The initiative aims to mitigate the global dependency on semiconductor manufacturing and address the threat quantum computing poses to cryptocurrencies. SEALSQ is negotiating projects in Europe, Middle East, and Far East to implement OSAT Centers using RISC-V technology. The company is allocating 100 million SEALCoins to back the production of 100 million Quasar post-quantum semiconductors. SEALSQ's initiative also includes secure elements, cryptographic keys, and hardware security modules, and is expected to bolster industries like automotive, aerospace, and healthcare. The company's involvement with IoT device manufacturers and the Matter Protocol is expected to increase semiconductor demand, with the smart home market projected to grow significantly.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 2:06 pm

SINT

SINTX Technologies, Inc. (NASDAQ:SINT) reported preliminary Q4 2023 revenue of $902K and FY23 revenue of $2.6M, reflecting an 18% and 68% increase respectively compared to the same periods in 2022. The growth is attributed to the acquisition of TA&T and increased sales in aerospace, biomedical, and energy markets. Commercial revenues surpassed government contracts in Q4 for the first time since TA&T's acquisition. SINTX expects continued growth in 2024, targeting the defense, aerospace, industrial, and energy markets, and plans to re-engage the ballistic and body armor market.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 2:04 pm

CBSTF

The Cannabist Company Holdings Inc. has entered into a binding agreement with offshore institutional investors to repurchase up to $25 million of its 6.0% senior secured convertible notes due June 2025. This move is part of the company's strategy to reduce leverage and interest expenses. ATB Capital Markets served as the financial advisor for the transaction. The company has also obtained waivers from holders of $34.5 million of the notes, and if holders of the remaining $5 million participate, an additional $3.57 million of the notes could be repurchased. The company's stock closed 2.14% lower at $0.0111 per share on Monday.

Portfolio Pulse from Nina Zdinjak

January 23, 2024 | 1:57 pm

INVO

Naya Biosciences is set to acquire Florida Biotechnologies for $20 million in shares of NAYA post-merger with INVO Bioscience. Florida Biotechnologies, which has developed a program in collaboration with the University of Miami's Bascom Palmer Eye Institute, is also eligible for an additional $5 million upon achieving certain milestones. NAYA is working on accelerating Phase II clinical development and Early Patient Access after initial safety was demonstrated in a 28-patient clinical trial. The company is also focusing on acquiring clinical and commercial assets in oncology, regenerative medicine, and fertility. The merger with INVO Bioscience is expected to close in the first quarter of 2024, following the recent filing of S-4 and joint draft proxy statements.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:47 pm

BLK

CSIQ

Recurrent Energy, a subsidiary of Canadian Solar Inc. (CSIQ), has secured a $500 million investment from BlackRock (BLK) to expand its renewable energy platform. The investment represents 20% of Recurrent Energy's shares on a fully diluted basis. Canadian Solar will retain the majority ownership. The capital will help Recurrent Energy grow its project pipeline and transition to a long-term owner and operator, particularly in the U.S. and Europe. The company has a significant development pipeline and expects to have substantial solar and storage operations by 2026. The transaction excludes certain regions and is subject to regulatory approvals. BlackRock's investment is from its Climate Infrastructure fund, aligning with the global trend towards renewable energy, with solar capacity expected to triple by 2027.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:45 pm

WAVD

WaveDancer, Inc. (NASDAQ:WAVD) has filed a Registration Statement on Form S-4 with the SEC, containing a preliminary proxy statement for its merger with Firefly Neuroscience, Inc. The merger, announced on November 16, 2023, is aimed at enhancing AI-driven neurological outcomes and is expected to close in Q2 2024, pending stockholder approval and other customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:39 pm

RSTN

RDE, Inc. (OTCQB:RSTN), owner of Restaurant.com and CardCash.com, has applied to uplist its common shares to the Nasdaq Capital Market. The move follows a transformational year, including the acquisition of CardCash.com, which enhances cross-selling opportunities and gift card options. The uplisting aims to increase corporate visibility and shareholder value, but approval from Nasdaq and meeting listing criteria are pending with no guarantee of success.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:38 pm

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