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Acquisitions Mergers

JAZZ

Autifony Therapeutics has signed an exclusive global licensing agreement with Jazz Pharmaceuticals, worth up to $770.5 million, to develop and commercialize treatments for neurological disorders.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 7:20 am

DWAC

Truth Social, the social media platform associated with former President Donald Trump, has reported a loss of $73 million since its launch in February 2022. The financial disclosure was filed by Digital World Acquisition Corp. (NASDAQ:DWAC), which is in merger talks with Trump Media & Technology Group (TMTG), the parent company of Truth Social. The platform lost $50 million in 2022 with $1.4 million in net sales and an additional $23 million in the first half of the current year. The report indicates that TMTG's survival is uncertain without the completion of the merger with DWAC and additional funding. TMTG's management is concerned about meeting liabilities and raising more funds.

Portfolio Pulse from Benzinga Neuro

November 14, 2023 | 3:54 am

BABA

DWAC

NIO

SBLK

TSLA

U.S. stocks showed mixed performance with the Dow Jones slightly up and NASDAQ slightly down. Digital World Acquisition Corp. (DWAC) made news with its merger progress with Trump Media & Technology Group. Alibaba (BABA) faced economic challenges but managed Singles Day with strategic discounting. NIO Inc. (NIO) added a new independent director to its board. Star Bulk Carriers Corp. (SBLK) reported strong quarterly net income and declared a dividend. Tesla (TSLA) saw a significant stock surge amid reports of potential tax cuts for EV imports in India.

Portfolio Pulse from Benzinga Neuro

November 14, 2023 | 2:03 am

BEEP

Mobile Infrastructure reported a significant Q3 2023 net loss of $23.1 million, or $1.77 per diluted share, compared to a net loss of $2.9 million, or $0.22 per diluted share, in the same period last year. Sales decreased to $8.06 million from $8.35 million. The loss was largely due to non-recurring charges related to a merger and repositioning, including a $16.1 million non-cash charge for Series 2 Preferred Stock and $8.7 million impairment charges for three parking facilities. Adjusted EBITDA increased by 2.3% to $4.4 million. The company's total debt decreased to $193.5 million from $219.7 million at the end of 2022, with a weighted-average interest rate of 6.8%.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 1:54 am

FWRD

Omni Logistics has refuted claims made by Forward Air (FWRD) and reiterated the compelling benefits its proposal would bring to shareholders. The specifics of the claims made by Forward Air are not detailed in the article.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:49 pm

SSY

SunLink Health Systems, Inc. (SSY) has agreed to sell Trace Regional Medical Center to Progressive Health Group, LLC for approximately $8M. The sale includes a hospital, skilled nursing facility, and three clinics. SunLink expects a pre-tax gain of $1.7M and will use the $7.5M proceeds for general corporate purposes. The sale is set to close on December 15, 2023, and will be reflected in the company's second fiscal quarter. Due to the sale, SunLink will delay its SEC filing of the 10-Q report for Q3 2023, using a Form 12b-25 to extend the deadline by five days.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:44 pm

SKT

Tanger Factory Outlet Centers, Inc. has announced the acquisition of Asheville Outlets in Asheville, NC, for $70 million in cash. This move is part of Tanger's external growth strategy and adds an open-air shopping center to its portfolio in a market that is popular with tourists.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:39 pm

THRX

Theseus Pharmaceuticals, Inc. (NASDAQ:THRX) announced a significant workforce reduction of approximately 72% as part of a strategic process to maximize shareholder value. This process may include the sale of company assets, a sale of the company, a merger, or other strategic actions. Despite the reduction, the company reported having $225.4 million in cash, cash equivalents, and marketable securities as of September 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:33 pm

NDAQ

Bill Dague, VP and head of data products at NASDAQ Inc. (NDAQ), discussed NASDAQ's data services transformation to meet the needs of retail investors in the AI era. NASDAQ responded to increased demand for macroeconomic data during the pandemic by acquiring Quandl in 2018, which enabled rapid productization. NASDAQ also launched a product to understand retail investor behavior and integrated Generative AI to enhance data analysis and mapping.

Portfolio Pulse from Piero Cingari

November 13, 2023 | 10:30 pm

DWAC

Digital World Acquisition Corp (DWAC) shares rose in after-hours trading following the announcement of Amendment No. 1 to its Form S-4 Registration Statement, which includes a preliminary proxy statement and prospectus for its proposed merger with Trump Media & Technology Group (TMTG), the entity behind Truth Social app. The filing is a significant step in the merger process, with both companies expressing optimism about the progress towards completing the business combination.

Portfolio Pulse from Adam Eckert

November 13, 2023 | 10:27 pm