Streetbeat News

Acquisitions Mergers

LNKB

PTRS

LINKBANCORP, Inc. (LNKB) and Partners Bancorp (PTRS) have received the final regulatory approval from the Federal Reserve Board for their merger of equals. The all-stock transaction will result in Partners merging into LINKBANCORP, with LINKBANCORP as the surviving entity. The Bank of Delmarva and Virginia Partners Bank will merge into LINKBANK. The expected closing date is November 30, 2023, subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:21 pm

BNIX

Bannix Acquisition Corp. (BNIX) has extended the deadline to complete its initial business combination from November 14, 2023, to December 14, 2023. This extension is part of the rights granted to Bannix to extend the deadline up to 12 times, each by one month, until March 14, 2024. The extension was approved by stockholders and the Amended Charter was filed with the State of Delaware. If an extension is used, the sponsor, Instant Fame LLC, will deposit up to $75,000 or $0.07 per non-redeemed share into the trust account.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:19 pm

ADN

Advent Technologies received a letter from the Greek State confirming continued support for the Green HiPo Project, with an updated funding plan of EUR 60 million. The Just Transition Fund will provide a grant of EUR 24 million, which is 40% of the total budget, to initiate the project.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:17 pm

ET

Energy Transfer LP (NYSE:ET) has signed a non-binding Heads of Agreement with TotalEnergies for a term crude oil offtake of 4 million barrels per month from the proposed Blue Marlin Offshore Port. The agreement is contingent on finalizing definitive agreements and Energy Transfer's final investment decision. The Blue Marlin project aims to enhance U.S. energy export capabilities and is designed to load one VLCC per day, utilizing existing infrastructure for environmental benefits and faster market delivery, pending government approvals.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:16 pm

MIR

Mirion Technologies (NYSE:MIR) has entered into an agreement with TerraPower to design and fabricate components for the Molten Chloride Reactor Experiment (MCRE), a pioneering nuclear reactor technology. This collaboration is part of the U.S. Department of Energy's Advanced Reactor Demonstration Program and aims to promote sustainable, low-carbon energy solutions. Mirion will supply a Nuclear Instrumentation System for the MCRE, which is a critical safety component for the reactor.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:14 pm

NLSP

NLS Pharmaceutics has executed a non-binding term sheet for licensing its intellectual property and secured an additional bridge loan from insiders to extend its cash runway. The company has also implemented significant internal cost reductions. The terms of the strategic partnership and bridge loan are not yet finalized, with the intent to close the transaction in Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:10 pm

ACHR

Archer Aviation (ACHR) and Air Chateau International have announced a deal where Air Chateau plans to purchase up to 100 Midnight aircraft from Archer, with the deal valued at up to $500 million. This significant order could bolster Archer's financials and backlog, indicating a strong demand for its Midnight aircraft.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:09 pm

NVEE

NV5, a provider of professional and technical engineering and consulting solutions, has acquired Technical Design Services (TDS), a company specializing in data center and technology infrastructure design. The acquisition was made through a combination of cash and stock and is expected to be immediately accretive to NV5's earnings, indicating a positive impact on the company's financial performance.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:07 pm

LINK

PTRS

LINKBANCORP, Inc. and Partners Bancorp have received approval from the Federal Reserve Board for their merger of equals. The closing date for the merger has also been announced.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 1:06 pm

BABA

Alibaba Group Holding Limited (NYSE: BABA) reported Q2 FY23 revenue of $30.81 billion, surpassing estimates of $30.77 billion, with adjusted earnings per ADS at $2.14, beating the consensus of $2.11. Revenue growth was seen across multiple segments, with Alibaba International Digital Commerce Group showing a 53% increase. However, Alibaba's Cloud Intelligence Group faces uncertainties due to new U.S. semiconductor embargoes. Alibaba has paused the Freshippo IPO and is preparing for external fundraising for its International Digital Commerce Group. Cainiao is applying for an IPO in Hong Kong. Jack Ma's family trust plans to sell 10 million ADSs worth approximately $871 million. Alibaba announced a FY23 dividend of $1.00/ADS. BABA shares dropped 7.94% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 16, 2023 | 12:58 pm