Streetbeat News

Acquisitions Mergers

CCLP

KGS

Kodiak Gas Services (NYSE:KGS) is set to merge with CSI Compressco (NASDAQ:CCLP) in a stock-for-stock transaction valued at $854.00 million, expected to close in Q2 of 2024. The merger will involve significant changes in leadership and operations for both companies, which are active in the U.S. compression infrastructure sector.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 3:10 pm

SHIP

USEA

Seanergy Maritime Holdings Corp. (SHIP) reported Q3 revenues of $24.5M with an adjusted net loss of $2.6M, while United Maritime Corp. (USEA) saw a 210% increase in revenues for the first nine months of 2023 and an adjusted net profit of $9.2M. Despite challenges in the Capesize market, Seanergy remains optimistic due to increased demand and limited new vessel orders. United Maritime's smaller fleet size has insulated it from market fluctuations, and the company has been actively repurchasing shares, signaling confidence in its business.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:45 pm

PRSR

Shareholders of Prospector Capital Corp. (PRSR) have voted to approve the business combination with LeddarTech Holdings. The record date for the issuance of one additional Prospector Class A Share for each non-redeemed share will be on the closing date of the transaction.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:32 pm

LTHM

Allkem shareholders have voted in favor of a merger with Livent Corporation. The proposed scheme of arrangement will see Arcadium Lithium acquire all shares in Allkem. The merger aims to create a vertically integrated business model to enhance operational flexibility and value capture across the lithium value chain. Livent stockholders will vote on the Transaction Agreement on December 19, 2023. If approved, Allkem will seek court approval on December 20, 2023, and if successful, the Scheme will become effective on December 21, 2023, leading to a suspension of Allkem shares from trading.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:30 pm

IGC

IGC Pharma, Inc. (NYSE:IGC) has received a patent in Mexico for its Alzheimer's treatment, 'Method and Composition for Treating CNS Disorder.' The company is conducting a Phase 2 trial for IGC-AD1, aimed at treating agitation in Alzheimer's patients. The patent is a key step towards potential commercialization in various jurisdictions, including the U.S. and Europe. Alzheimer's disease is a significant public health concern, with rising numbers and costs. IGC Pharma is developing multiple drug assets to address Alzheimer's-related agitation.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:29 pm

EADSY

ESYJY

easyJet Plc has confirmed an order for 157 additional A320neo Family aircraft from Airbus SE, with options for 100 more. The order includes 56 A320neo and 101 A321neo models, with deliveries scheduled between FY29 and FY34. This move aims to grow capacity, improve cost and sustainability, and replace older A320ceo aircraft. The new aircraft offer 13% to 30% better fuel efficiency and half the noise footprint. easyJet's stock (ESYJY) closed higher by 0.80% at $6.27.

Portfolio Pulse from Shivani Kumaresan

December 19, 2023 | 2:26 pm

CGEN

GILD

Compugen's stock price has risen following the announcement of an exclusive licensing agreement with Gilead for its pre-clinical immunotherapy program.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:17 pm

SB

Safe Bulkers, Inc. has agreed to acquire a new Japanese Kamsarmax class dry-bulk vessel with a capacity of 82,000 dwt, to be delivered in the first half of 2026. The financial terms of the acquisition were not disclosed. The vessel will comply with the Phase 3 Energy Efficiency Design Index for GHG emissions reduction and NOx-Tier III emissions standards. It is a sister vessel to others in Safe Bulkers' orderbook, featuring advanced energy efficiency for reduced fuel consumption.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:08 pm

GOVX

GeoVax Labs, Inc. has expanded its License Agreement with the NIH to include Mpox and smallpox in its vaccine development program. The agreement allows the use of U.S. HHS materials and patents in combination with GeoVax's technology to create vaccines for COVID-19, Mpox, and smallpox. Financial details of the agreement were not revealed.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:05 pm

MARA

Marathon Digital Holdings Inc (MARA) has entered into an agreement to acquire two Bitcoin mining sites for $178.6 million, adding 390 megawatts to its current 584-megawatt capacity. The acquisition, funded by cash from Marathon's balance sheet, is expected to close in Q1 2024. Marathon's CEO, Fred Thiel, sees this as a step towards reducing Bitcoin production costs and expanding operational capacity. MARA shares rose 4.38% to $20.75, in tandem with Bitcoin's price increase, which was up over 4%.

Portfolio Pulse from Adam Eckert

December 19, 2023 | 2:03 pm