Streetbeat News

Acquisitions Mergers

BNIX

Bannix Acquisition Corp (BNIX) has extended the deadline to complete an initial business combination from December 14, 2023, to January 14, 2024. If the extension is utilized, the sponsor, Instant Fame LLC, will deposit up to $75,000 or $0.07 per non-redeemed share into the trust account as a loan.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 1:10 pm

MRDB

MariaDB plc (NYSE:MRDB) has completed the spinoff of its SkySQL business into a new independent entity, SkySQL Inc. The new company has acquired the rights to the SkySQL database-as-a-service (DBaaS) product and will take over its development, sales, and support. This move allows MariaDB to concentrate on its core MariaDB Enterprise Server product.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 1:06 pm

AEZS

CRPOF

Aeterna Zentaris has signed an agreement with Ceapro to form a diversified biopharmaceutical company. The transaction is anticipated to be finalized in the first quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 12:54 pm

PFE

SGEN

Pfizer has completed the acquisition of Seagen at $229 per share, with a total enterprise value of approximately $43 billion.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 12:42 pm

JNJ

RAIN

Rain Oncology Inc (NASDAQ:RAIN) is set to be acquired by Pathos AI Inc. for $1.16 per share in cash plus a contingent value right (CVR) for potential additional cash payments of up to $0.17 per share. The offer is a 17% premium over Rain's stock price as of October 13, 2023. The deal, expected to close in January 2024, follows Rain's disappointing Phase 3 MANTRA data for milademetan, which did not meet its primary endpoint. Rain went public in April 2021. RAIN shares rose 2.54% to $1.21 in premarket trading.

Portfolio Pulse from Vandana Singh

December 14, 2023 | 12:26 pm

NVDA

TSM

Nvidia Corp has placed orders for AI processors designed for the Chinese market with Taiwan Semiconductor Manufacturing Company, with production starting in Q1 2024. Due to U.S. restrictions, Nvidia faces challenges in selling its advanced AI chips in China, and plans to release new GPUs that comply with performance limits. Chinese chip designers are emerging as competitors in the AI chip market, where Nvidia holds a 90% share. NVDA shares were up 0.91% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

December 14, 2023 | 12:17 pm

VGZ

WPM

Vista Gold Corp. has entered into a Royalty Agreement with Wheaton Precious Metals Corp., granting Wheaton a 1% royalty on gross revenue from the Mt Todd gold project in exchange for $20 million. The funds will be used to advance the project and for general corporate purposes. The deal is pending approval from the Australian government's FIRB, and Wheaton has a Right of First Refusal on future royalties or streams from Mt Todd.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 11:42 am

MLEC

Moolec Science reported a 92% increase in Q1 revenue to $1.74 million, attributed to the full quarter consolidation of an acquired business and a combination of higher volume and prices.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 11:10 am

ALKS

NVO

Alkermes has agreed to sell its development and manufacturing facility in Athlone, Ireland to Novo Nordisk for $92.5 million. The transaction is expected to close in mid-2024.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 11:08 am

BABA

PDD

PDD Holdings Inc's subsidiary Temu has filed a lawsuit against fast-fashion rival Shein in the U.S. District Court for the District of Columbia, alleging anti-competitive practices. The lawsuit accuses Shein of coercing suppliers, issuing copyright takedown notices, and pressuring Temu merchants. Shein is reportedly planning a U.S. IPO targeting a $90 billion valuation, while Temu's U.S. market entry has led to a decline in Shein's valuation from over $100 billion. PDD's market cap has recently surpassed Alibaba's, with PDD stock up over 73% YTD and BABA down over 22%.

Portfolio Pulse from Anusuya Lahiri

December 14, 2023 | 11:07 am