Streetbeat News

Acquisitions Mergers

ACN

Accenture has acquired Impendi Analytics, a move that expands its capabilities in procurement analytics and spend intelligence. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 2:09 pm

DOOR

Masonite International Corporation's (DOOR) shares moved higher after MITER Brands announced its intention to acquire PGT Innovations. Concurrently, PGT Innovations announced the termination of its previous merger agreement with Masonite, which was dated December 17.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 2:06 pm

BITO

Bitcoin ETF trading volume has surged to $10 billion, surpassing the total activity of the 2023 freshman class. Crypto analyst sets a $5 price target for Dogecoin. Peter Schiff warns of a potential Bitcoin fall due to upcoming SEC regulations. Ethereum's Vitalik Buterin criticizes Layer-2s using Validium. The IRS pauses the $10K crypto tax rule. Ripple's CEO considers an IPO and criticizes SEC's Gary Gensler. Ark Invest sells ProShares Bitcoin Strategy ETF units. Bitcoin, Ethereum, and Dogecoin prices fluctuate with ETF speculation. TRUMP memecoin reaches an all-time high. Coinbase's meme cat Toshi sparks high price targets.

Portfolio Pulse from Akanksha Bakshi

January 17, 2024 | 2:05 pm

PGTI

MITER Brands has announced its intention to acquire PGT Innovations for $42 per share in an all-cash transaction. This acquisition is expected to have a significant impact on PGT Innovations' stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 2:04 pm

GBDC

Golub Capital BDC, Inc. (GBDC) has announced a definitive merger agreement with Golub Capital BDC 3, Inc. (GBDC 3), with GBDC as the surviving entity. Post-merger, GBDC's total assets at fair value are expected to rise from $5.5 billion to $8.1 billion, with investments in over 340 portfolio companies. The merger is subject to stockholder and regulatory approvals and is expected to close in Q2 2024. GBDC's investment adviser, GC Advisors LLC, has agreed to reduce incentive fees from 20% to 15%, effective January 1, 2024. The merger is anticipated to be accretive to GBDC's net investment income per share, and GBDC has increased its quarterly base distribution by over 5% to $0.39 per share, payable on March 29, 2024. Additional special distributions totaling $0.15 per share are also planned post-merger. GBDC will remain externally managed by GC Advisors, and all officers and directors will retain their roles.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:50 pm

SAVE

Spirit Airlines' stock (SAVE) continues to trade lower after a federal judge blocked JetBlue Airways' acquisition attempt. The decision has halted the potential merger, negatively impacting Spirit's share value as investors reassess the airline's future without the anticipated acquisition benefits.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:46 pm

KULR

KULR Technology Group, Inc. has secured an exclusive global license for NASA's large format Fractional Thermal Runaway Calorimeter (FTRC) technology, which is critical for lithium-ion battery safety testing. This positions KULR as the sole provider of comprehensive battery testing services for all cell types and establishes them as a key partner for OEMs in battery safety design, testing, storage, and recycling. The global battery testing equipment market is expected to grow from USD 11.2 billion in 2021 to USD 16.5 billion by 2030, and KULR is already serving major clients in the automotive, space exploration, electric truck manufacturing, and electric vertical take-off and landing sectors.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:45 pm

NUKK

Nukkleus Inc. has signed a Memorandum of Understanding (MOU) to increase its holdings in Jacobi Asset Management by acquiring an additional 10% stake. Furthermore, Nukkleus has negotiated an option to acquire One Hoxton Holding, which would result in an additional 6% ownership of Jacobi.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:43 pm

BFRG

SAVE

SLDP

Spirit Airlines' stock (SAVE) plunged by 59% due to the blocked merger, affecting the airline sector with JetBlue and Hawaiian Airlines on watch. BullFrog AI (BFRG) surged 48% after its collaboration with the Lieber Institute for Brain Development showed promising results in brain expression data stratification. Solid Power (SLDP) increased by 17% on the expectation of generating at least $50 million in revenue from recent agreements upon meeting milestones and electrolyte deliveries.

Portfolio Pulse from ryanfaloona@benzinga.com

January 17, 2024 | 1:42 pm

DARE

Daré Bioscience, Inc. has received a $750,000 grant from the Bill & Melinda Gates Foundation to fund activities related to the development of bacteria-based live biotherapeutic products. This follows a previous grant of approximately $585,000 for the development of a hydrogel formulation. The new grant will support Daré's efforts to analyze the global bacterial biologic supply chain and identify potential CMO partners for manufacturing clinical and commercial supplies of these products. Daré's expertise in auditing and recommending manufacturers was a key factor in their selection for this project.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:18 pm