Streetbeat News

Acquisitions Mergers

HPCO

Hempacco has agreed to purchase all of Green Globe International's shares in Green Star Labs, representing a 50% stake, for $2.5 million. The payment will be made through a promissory note.

Portfolio Pulse from Charles Gross

January 04, 2024 | 10:09 pm

CPRX

Catalyst Pharmaceuticals has announced a public offering of $150M of its common stock, with an option for underwriters to purchase an additional 15% of the offered shares. The proceeds are intended for potential acquisition of new product candidates and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 9:52 pm

KRNL

KRNLU

Kernel Group, a SPAC company, has extended its deadline to complete an initial business combination to February 5, 2024. This extension provides additional time for Kernel Group to find a suitable merger or acquisition target.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 9:31 pm

ANY

Sphere 3D has sold its subsidiary HVE to its former President Joseph O'Daniel for a nominal amount, aligning with its shift towards the cryptocurrency sector. This transaction led to O'Daniel's resignation and a revised compensation agreement, as disclosed in an SEC 8K filing.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 9:25 pm

CTO

PINE

CTO Realty Growth, Inc. (NYSE:CTO) reported its 2023 activities, including the acquisition of four retail properties and one land parcel for $80 million, and a first mortgage structured investment of $15 million. The company also purchased shares of Alpine Income Property Trust, Inc. (PINE) and sold nine non-core income properties and other assets. CTO signed 92 leases, showing rent growth, and repurchased common and Series A Preferred shares. As of year-end, CTO had 22,643,034 common shares outstanding.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 9:23 pm

PINE

Alpine Income Property Trust, Inc. (PINE) reported its 2023 transaction activities, including the acquisition of 14 net lease retail properties and the origination of three first mortgage structured investments, totaling $121.5 million in investment activity. The company also sold 24 properties for $108.3 million, generating $9.3 million in gains. PINE repurchased shares and issued new shares under its ATM program, with no debt maturities until 2026. As of year-end 2023, PINE owned 138 properties with $38.7 million in annualized base rent, with a portfolio weighted average lease term of 7 years and 65% of rents from investment-grade tenants.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 9:22 pm

REXR

Rexford Industrial Realty, Inc. (REXR) announced $81M in recent transactions, including two acquisitions for $69.5M and one disposition for $11.3M, bringing its full year 2023 investments to $1.5B in Southern California. The company acquired properties in Anaheim and South El Monte, with plans for redevelopment into Class A industrial buildings, and sold a fully occupied multi-tenant building in Santa Ana. The transactions were funded through equity settlements, cash, and 1031 proceeds, with a pipeline of $75M in new investments.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 9:21 pm

ALLO

Allogene Therapeutics, Inc. (NASDAQ:ALLO) announced its 2024 Platform Vision, focusing on allogeneic CAR T products for cancer and autoimmune diseases. The ALPHA3 trial aims to establish cemacabtagene ansegedleucel (cema-cel) as a frontline treatment for Large B-Cell Lymphoma (LBCL) patients with minimal residual disease (MRD). The ALPHA2 trial in Chronic Lymphocytic Leukemia (CLL) and the ALLO-329 program for Autoimmune Disease (AID) are also highlighted. The TRAVERSE trial with ALLO-316 in Renal Cell Carcinoma (RCC) is advancing with a new treatment algorithm. Allogene's manufacturing facility, Cell Forge 1, is expected to meet future demand for AlloCAR T products. The company plans to reduce cash burn and extend its financial runway into 2026. A conference call is scheduled to discuss the vision, and Dr. Chang will present at the J.P. Morgan Healthcare Conference.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 9:09 pm

SEM

Select Medical Holdings Corporation (NYSE:SEM) saw its stock price increase after announcing plans to separate its Concentra Group Holdings Parent, LLC, an occupational health services business. The separation would create two independent, publicly traded companies. The move is part of strategic alternatives to maximize stockholder value and support the company's mission. SEM shares were up 11.2% at $26.12 following the announcement.

Portfolio Pulse from Ryan Gustafson

January 04, 2024 | 7:34 pm

SLGC

Madryn Asset Management, a significant shareholder of SomaLogic, has publicly opposed the proposed acquisition of Standard BioTools by SomaLogic. Madryn believes the transaction is not in the best interests of shareholders and has urged them to vote against it. The firm criticizes the deal's strategic rationale, financial terms, and potential impact on SomaLogic's future.

Portfolio Pulse from Bill Haddad

January 04, 2024 | 7:26 pm