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Acquisitions Mergers

GOOG

GOOGL

JNJ

MSFT

Netherlands-based biotech startup Cradle, specializing in AI-powered protein design and engineering, has raised $24 million in Series A funding led by Index Ventures and Kindred Capital. Former Merck lead director Tom Glocer and Recursion co-founder Chris Gibson also invested. Cradle's technology accelerates R&D projects, including vaccines and antibodies, by leveraging generative AI and ML. The company plans to use the funds to expand its teams and invest in product development and sales. Alphabet's Google Brain alum Stef van Grieken is Cradle's co-founder and CEO. Pharmaceutical companies like Johnson & Johnson are also using generative AI for product engineering.

Portfolio Pulse from Rounak Jain

November 28, 2023 | 10:10 am

PLMI

Veea Inc., a digital transformation company, is set to become publicly traded through a merger with Plum Acquisition Corp. I (NASDAQ:PLMI), a SPAC. The definitive business combination agreement will lead to Veea continuing its business as a publicly traded entity post-merger.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:54 am

MSFT

Reddit Inc. is reportedly planning an IPO as early as Q1 2024 with a potential $15B valuation, in discussions with Morgan Stanley and Goldman Sachs. The IPO market has been weak, with 2023 seeing the worst performance in over a decade. Other companies like Rubrik Inc., backed by Microsoft, and Skims are also considering IPOs.

Portfolio Pulse from Benzinga Neuro

November 28, 2023 | 9:09 am

LCAA

Lotus Technology Inc., a luxury electric vehicle maker, has secured around $870 million in PIPE financing and convertible notes in preparation for its planned merger with L Catterton Asia Acquisition Corp (LCAA), a SPAC affiliated with the investment firm L Catterton. This financial move comes ahead of the expected completion of the business combination.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 6:35 am

AMZN

COIN

MSFT

TSLA

Coinbase, GM, Amazon, Tesla, and Microsoft are the top five stocks on investors' radar after U.S. stocks dipped but recovered slightly in after-hours trading. Coinbase rose due to Bitcoin's new high and Argentina's pro-crypto president. GM plans to relaunch Robotaxi services after safety improvements. Amazon became the largest U.S. delivery service by volume. Tesla's Model Y is projected to be Europe's top-selling vehicle, and Microsoft's AI and cloud computing strength continue to attract investors.

Portfolio Pulse from Ramakrishnan M

November 28, 2023 | 4:04 am

NFLX

Netflix Inc (NASDAQ:NFLX) has won the rights to a new comedy film, 'The Fifth Wheel,' starring Kim Kardashian, after a competitive bidding war. Kardashian, who has a significant social media following, will also serve as a producer and be involved in marketing the film. This move by Netflix comes despite former President Donald Trump's past comment calling Kardashian the 'most overrated celebrity.'

Portfolio Pulse from Chris Katje

November 28, 2023 | 12:19 am

ACRHF

CURLF

GTBIF

The New York State Cannabis Control Board (CCB) has endorsed a settlement agreement that could lead to the lifting of a court injunction blocking the opening of over 400 cannabis dispensaries. The injunction stemmed from a lawsuit by service-disabled veterans and the Coalition for Access to Regulated & Safe Cannabis, alleging unfair licensing practices by the Office of Cannabis Management (OCM) and CCB. Large marijuana companies like Acreage Holdings Inc (ACRHF), Curaleaf Holdings Inc (CURLF), and Green Thumb Industries Inc (GTBIF) were involved in a similar lawsuit earlier. The settlement's details are confidential, and court approval is pending. Industry stakeholders remain cautiously optimistic about the resolution.

Portfolio Pulse from Joana Scopel

November 27, 2023 | 11:18 pm

ARGT

MELI

The Global X MSCI Argentina ETF (ARGT) has entered a bull market, surging over 20% after Javier Milei's presidential election win in Argentina. ARGT, with MercadoLibre Inc. (MELI) as its top holding, saw a $13 million inflow. Milei's Washington meetings with U.S. officials and international organizations are crucial for Argentina's economic path, focusing on hyperinflation and economic reforms.

Portfolio Pulse from Piero Cingari

November 27, 2023 | 10:16 pm

BUSE

First Busey Corporation has agreed to merge with Merchants And Manufacturers Bank Corp in a deal valued at approximately $41.6 million. M&M's stockholders can choose to receive cash, Busey common stock, or a combination of both as part of the merger terms.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 10:03 pm

XXII

22nd Century Group, Inc. (XXII) has entered into an agreement to sell the majority of its GVB Biopharma Hemp/Cannabis operations. The deal includes a $1 million cash payment at closing and a 12% secured promissory note for $1.25 million, payable in six monthly installments starting from the fourth month post-closing. The company intends to use the sale proceeds to reduce its debt.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 9:46 pm