Streetbeat News

Acquisitions Mergers

LL

F9 Investments and CTG have officially withdrawn their offer to acquire all outstanding shares of LL Flooring Holdings for $3 per share, as stated in their letter to the CEO and Chairperson of the Board, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 1:58 pm

DIN

Doherty Enterprises, Inc. has acquired 21 Applebee's restaurants in the New York City metro area from Apple Metro, expanding its restaurant franchise portfolio. The acquisition increases Doherty's total to 160 franchise restaurants, including Applebee's, Panera Bread, and Chevys Fresh Mex, and ranks it 25th in the Top 200 Franchisees in the U.S. by Restaurant Finance Monitor. Current employees of the acquired restaurants will be offered jobs with Doherty, ensuring a smooth transition for both staff and guests.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 1:37 pm

TLPH

XOMA

Talphera, Inc. (NASDAQ: TLPH) has announced a $26 million capital commitment to fund the company through potential FDA approval of Niyad™, expected in the first half of 2025. The funding includes $16 million in equity from existing investors Nantahala Capital and Rosalind Advisors, and $8 million from a partial monetization of DSUVIA royalties with XOMA Royalty. The equity offering is structured with $6 million upfront, $10 million upon positive NEPHRO trial data, and $2 million if the stock price reaches a specified level post-trial. Abhinav Jain from Nantahala will join Talphera's Board. The royalty transaction with XOMA involves sharing future DSUVIA royalties and milestones after XOMA receives a specified return.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 1:35 pm

BNZI

Banzai has executed a Letter of Intent (LOI) to acquire Cliently, a company specializing in lead engagement software. The financial terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 1:34 pm

BNZI

Banzai, a company that provides engagement marketing solutions, has signed a non-binding letter of intent to acquire Cliently, a lead engagement platform. The acquisition aims to integrate Cliently with Banzai's existing products to enhance their offerings.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 1:33 pm

XOMA

XOMA Corporation (NASDAQ:XOMA) has expanded its royalty and milestone portfolio by acquiring an economic interest in DSUVIA from Talphera, Inc. for $8 million. XOMA will receive a 15% royalty on commercial sales, a significant portion of the 75% royalty from U.S. Department of Defense purchases, and at least 50% of potential $116.5 million in milestone payments. DSUVIA is a pain management drug approved by the FDA and recently divested to Alora Pharmaceuticals. XOMA's investment is part of its strategy to acquire royalty economics with attractive risk/reward profiles.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 1:32 pm

BNRG

Brenmiller Energy Ltd. (NASDAQ:BNRG) has received a $450,000 grant from the Israel Innovation Authority for its thermal energy storage project at Wolfson Hospital in Israel. This grant complements a previously approved $3.7 million budget from the Israel Ministry of Finance. The bGen™ ZERO system by Brenmiller is expected to save Wolfson Hospital up to $1.3 million annually and reduce its carbon footprint by 3,900 tons per year. The company has also received a grant from the Israel Ministry of Environmental Protection for a project at a beverage plant owned by Tempo Beverages Ltd., a subsidiary of Heineken International B.V. Brenmiller's bGen™ ZERO system, named among TIME's Best Inventions of 2023, is designed to convert electricity into heat for industrial processes and support utility-scale renewable energy projects.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 1:14 pm

SPEC

Spectaire Holdings Inc. (NASDAQ:SPEC) has completed a Forward Purchase Agreement with Meteora Funds, initially entered on January 14, 2022. The agreement involved Meteora Funds purchasing 885,574 common shares of Spectaire from redeeming shareholders in connection with a Business Combination. The Seller has sold all shares and the capital raised will finance accelerated production for Spectaire's AireCore solution.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 1:08 pm

LPCN

Lipocine Inc. (LPCN) has entered into an exclusive licensing agreement with Verity Pharmaceuticals for the U.S. and Canadian rights to market TLANDO, an oral testosterone replacement therapy (TRT). Lipocine will receive an $11 million license fee and up to $259 million in development and commercial sales milestones, plus royalties up to 18% on net sales. The commercialization of TLANDO in the U.S. will transition to Verity Pharma on Feb. 1, 2024. Lipocine retains rights outside the U.S. and Canada and non-TRT rights globally. The deal aligns with Lipocine's focus on CNS disorders and adds value to its non-core assets.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 1:03 pm

CDAY

Ceridian has entered into a definitive agreement to acquire eloomi, a learning and development platform. The financial terms of the deal were not disclosed. The acquisition is anticipated to be completed in Q1 2024 and will be financed using Ceridian's existing cash on the balance sheet.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 1:02 pm