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Acquisitions Mergers

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In Q3, Berkshire Hathaway, led by Warren Buffett, made several adjustments to its portfolio. It maintained its largest holding in Apple but trimmed its Chevron stake by 10.45%. Berkshire sold all its shares in GM, Celanese, Johnson & Johnson, Procter & Gamble, and UPS. New additions included Atlanta Braves Holdings and Sirius XM, while stakes in HP and Amazon were reduced. Core holdings in Bank of America, American Express, Coca-Cola, and Occidental Petroleum remained unchanged, as did positions in Lennar, D.R. Horton, Capital One, Mastercard, Visa, Snowflake, VeriSign, Kroger, Mondelez, and ETFs SPDR S&P 500 and Vanguard 500 Index Fund.

Portfolio Pulse from Shanthi Rexaline

November 15, 2023 | 7:47 am

AVCNF

Avicanna Inc. (OTCQX: AVCNF) reported a record 713% YoY growth in Q3 2023 medical marijuana sales, reaching $6.27 million. The company acquired Medical Cannabis by Shoppers assets and launched MyMedi.ca platform. CEO Aras Azadian and CFO Phil Cardella highlighted strategic vision and financial milestones, including an eight-digit revenue figure and improved gross margins of 47%. Despite a 23% increase in SG&A, the company showed business scalability with an adjusted EBITDA loss of $473,000.

Portfolio Pulse from Nicolás Jose Rodriguez

November 15, 2023 | 1:56 am

BCEL

Atreca, Inc. has announced a 40% reduction in its workforce as part of a strategic move to explore various strategic alternatives. This decision is aimed at reducing operating costs and extending the company's cash runway. The company is considering multiple options, including the sale of the company, mergers, partnerships, or other transactions that could enhance shareholder value.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:44 pm

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The Asia-Pacific Economic Cooperation summit in San Francisco features a key meeting between U.S. President Joe Biden and Chinese President Xi Jinping, aiming to improve U.S.-China relations. Business leaders from major U.S. companies, including Citigroup, Exxon Mobil, Microsoft, Tesla, and others, seek to establish better commercial ties with China amid recent trade tensions and sanctions. Companies like Tesla, Apple, Ford, Starbucks, Nike, Qualcomm, and NVIDIA, which have significant exposure to the Chinese market, are sensitive to these developments.

Portfolio Pulse from Natan Ponieman

November 14, 2023 | 10:37 pm

KKR

KKR's subsidiary Global Atlantic has sold its 33% minority stake in a portfolio of 26 solar facilities to APG of the Netherlands. The financial terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:20 pm

SHUA

SHUAA Partners Acquisition Corp I (NASDAQ:SHUA) announced it will dissolve and liquidate due to its inability to find a suitable target for a business combination. The company will not extend its deadline beyond November 4, 2023, and plans to cancel Class A ordinary shares on November 17, 2023. Shareholders will receive a pro rata portion of the Trust Account funds. Trading of SHUA's shares, units, and warrants will likely cease on November 16, 2023. There will be no redemption for warrants, and initial shareholders will not receive liquidating distributions unless they acquired Public Shares. Nasdaq will delist SHUA's securities, and the company will terminate its securities registration with the SEC.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:18 pm

CNM

Core & Main has agreed to acquire substantially all of the assets of Lee Supply Company, a distributor and fabricator of HDPE pipe and related services. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:18 pm

NTBL

Notable Labs, Ltd. (NASDAQ:NTBL) filed its Q3 2023 Form 10-Q, reporting financial results for the period ended September 30, 2023. The report includes pre-merger financials of VBL Therapeutics. Post-merger, Notable Labs had $14.3M in cash and equivalents as of October 31, 2023. The company, now trading under NTBL, is advancing its PPMP platform and cancer therapies, including Volasertib for AML. Additional financial details will be provided in a Form 8-K later in November. Phase 2a trial results for Fosciclopirox in AML patients are expected before the end of 2023.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:17 pm

BRAC

Broad Capital Acquisition Corp. has confirmed funding to extend the period to consummate an initial business combination until December 13, 2023. This extension provides the company with additional time to finalize a merger or acquisition deal.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:15 pm

NOVT

Novanta Inc. has agreed to acquire Motion Solutions for $189 million in cash. Motion Solutions is a provider of engineered integrated solutions for OEMs in medical, life sciences, and advanced industrial applications. The acquisition is expected to complement Novanta's product portfolio and expand its exposure to OEM customers in various markets. Motion Solutions is anticipated to generate about $85 million in revenue in 2023. The deal will be financed with available cash and credit facility borrowings.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:14 pm