Streetbeat News

Acquisitions Mergers

RIOT

Riot Platforms, Inc. (RIOT) has executed a purchase option with MicroBT to acquire 66,560 latest generation Bitcoin miners, totaling 18 EH/s, for $290.5 million. This order includes the M66S model and adds to a previous order of 33,280 miners. Deliveries will start in Q1 2024 and continue through H2 2025, with Riot's self-mining hash rate capacity expected to exceed 38 EH/s. Riot also secured options to purchase up to 265,000 additional miners, potentially increasing capacity to over 100 EH/s. The agreement provides a fixed price ceiling, aiding in future capital planning and market price protection.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:03 pm

GNRC

WBX

Wallbox shares have seen an increase in trading activity following the announcement that Generac has made a minority investment in the company.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:02 pm

CMCM

Cheetah Mobile has acquired an additional 35.17% equity interest in Beijing Orionstar Technology, bringing its total stake to approximately 72.91%. The company paid $37.6 million in cash to the selling shareholders and will consolidate Beijing Orionstar's financial results into its statements starting December 2023.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:01 pm

ATNF

180 Life Sciences Corp. has engaged a financial advisor to explore strategic alternatives to enhance shareholder value. These alternatives could include a sale, merger, business combination, or other strategic transactions. The company has not set a definitive timeline for this process and does not intend to disclose further developments unless its Board of Directors approves a specific action or otherwise concludes the review of strategic alternatives.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:01 pm

CLF

CMA

HUM

IYH

On CNBC's 'Halftime Report Final Trades,' experts shared their final trades, including iShares U.S. Healthcare ETF (IYH), Comerica Incorporated (CMA), Cleveland-Cliffs Inc. (CLF), and Humana Inc. (HUM). Goldman Sachs analyst Ryan Nash maintained a Neutral rating on Comerica and raised the price target from $45 to $50. Cleveland-Cliffs announced price increases for steel products last month. Humana closed higher on Friday amid reports of a potential merger with Cigna Group. Comerica, iShares U.S. Healthcare ETF, Cleveland-Cliffs, and Humana all saw share price increases on Friday.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 1:53 pm

ATHE

EYPT

SSNT

EyePoint Pharmaceuticals, Alterity Therapeutics, and SilverSun Technologies all experienced significant stock price surges following positive news. EyePoint Pharmaceuticals reported positive topline data from its Phase 2 trial of EYP-1901 in Wet AMD, meeting all primary and secondary endpoints. Alterity Therapeutics presented new data showing the effect of ATH434 in a Parkinson's Disease primate model, which improved motor performance and general function. Brad Jacobs announced a $1B equity investment in SilverSun Technologies to pursue acquisitions.

Portfolio Pulse from ryanfaloona@benzinga.com

December 04, 2023 | 1:48 pm

LVO

PODC

PodcastOne, a subsidiary of LiveOne and listed as PODC on NASDAQ, has acquired exclusive multiyear sales and distribution rights to the true crime podcast 'Rabia & Ellyn Solve the Case' hosted by Rabia Chaudry and Ellyn Marsh. This acquisition adds to PodcastOne's extensive portfolio of podcasts across various genres. The show has nearly one million downloads and 45 episodes since its debut. LiveOne, which owns 80% of PODC common stock, is also listed on NASDAQ as LVO.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:46 pm

LWLG

Lightwave Logic, Inc. (NASDAQ:LWLG) issued a shareholder letter providing a corporate update for 2023. The company, which specializes in electro-optic polymers for data transmission, highlighted a transformational year with its first commercial material supply and license agreement for Perkinamine®. Lightwave Logic expanded its laboratory production facilities, added key team members, and fortified its intellectual property with new patents. The company is engaging with tier-1 corporations and has received interest in its polymer modulators for 800G transceiver programs. Lightwave Logic's technology has shown potential in AI markets and datacenter applications. CEO Dr. Michael Lebby will discuss these updates in a fireside chat with Benzinga All-Access hosts.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:45 pm

BMBL

BX

Bumble Holdings has agreed to repurchase 3.19 million LP interests from Blackstone at a price of $13.8807 per equity interest, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:44 pm

BMBL

BX

Bumble Inc (BMBL) has entered into an agreement with entities affiliated with Blackstone Inc. (BX) to repurchase 4 million shares of its Class A common stock from Blackstone, according to an SEC filing on December 3.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:43 pm