Streetbeat News

Acquisitions Mergers

HRT

HireRight Holdings Corporation (NYSE:HRT) has launched an operational entity in Brazil, marking a significant milestone in its regional expansion strategy. This move aims to enhance support for customers hiring in Brazil and throughout Latin America. The expansion follows the launch of HireRight's Mexico subsidiary in 2021 and the acquisition of Inquiro Vitae in Argentina earlier this year. With this expansion, HireRight aims to provide faster data to customers screening in Brazil through direct connections to local sources and offer local fulfilment of verifications and customer support in Portuguese.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 1:48 pm

JBL

Jabil Inc. (NYSE:JBL) has announced the acquisition of Retronix, a provider in the reclamation and refurbishment of electronic components. The acquisition is part of Jabil's efforts to reduce electronic waste and advance circular economy initiatives. Retronix's services will enhance Jabil's existing services, including reverse supply chain management, medical device reprocessing, recycled packaging, and emission reductions.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 1:47 pm

TKLF

Yoshitsu Co., Ltd (NASDAQ:TKLF), a retailer and wholesaler of Japanese beauty and health products, has established a wholly-owned Canadian subsidiary, RAKKISTAR HOLDING INC. The new subsidiary is expected to enhance Yoshitsu's service standards in the North American market, strengthen customer relationships, and increase sales. The direct-sale model is expected to bring the company closer to its customers and optimize its management structure.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 1:46 pm

NFE

New Fortress Energy Inc. (NASDAQ:NFE) has signed a definitive agreement to charter the Floating Storage and Regasification Unit (FSRU) Energos Winter from Petrobras. The FSRU will be deployed to NFE's newest LNG import terminal in Santa Catarina, Brazil, which will start operations in January 2024, ahead of schedule. The Energos Winter is owned 80% by funds managed by Apollo and 20% by NFE.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 1:43 pm

AREN

The Arena Group Holdings, Inc. (NYSE:AREN) has announced a definitive agreement to combine with Bridge Media Networks, a subsidiary of Simplify Inventions, LLC. As part of the deal, 5-Hour International Corporation Pte. Ltd. and The Hans Foundation, USA will purchase $25 million of common and preferred stock respectively of the combined company, New Arena. The transaction is expected to expand The Arena Group's reach and capabilities, provide growth capital, reduce its debt, and extend the terms on its existing debt facilities. The deal is expected to close in Q4 2023 or Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 1:40 pm

BTI

OGI

Canadian cannabis company Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI) has announced a $91.2 million strategic equity investment from BT DE Investments Inc., a subsidiary of British American Tobacco (BAT) (NYSE:BTI). The investment will be used to create a strategic investment pool, Jupiter, which will target emerging cannabis opportunities. This transaction increases BAT's voting Common Share ownership position to 30% and overall equity interest to 45% in Organigram. The first tranche of the investment is expected to close on January 16, 2024.

Portfolio Pulse from Jelena Martinovic

November 06, 2023 | 1:35 pm

QFTA

Quantum FinTech Acquisition Corporation (QFTA) stockholders have approved the proposed business combination with AtlasClear, Inc. The business combination is expected to be completed soon, with the common stock of Calculator New Pubco, Inc. (New Pubco) to be listed on the NYSE American under the symbol 'ATCH'. Stockholders holding 4,953,369 shares of Quantum's common stock exercised their right to redeem their shares for a pro rata portion of the funds in Quantum's trust account, removing approximately $53.1 million from the Trust Account.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 1:31 pm

BVH

HGV

Hilton Grand Vacations has announced plans to acquire Bluegreen Vacations at $75 per share, leading to a surge in Bluegreen's stock price.

Portfolio Pulse from Luke J Jacobi

November 06, 2023 | 1:24 pm

BEST

CREV

ROI

SNSE

Several stocks are experiencing significant pre-market trading movements. Carbon Revolution Public Limited (NASDAQ:CREV) shares surged 358% after a merger with Twin Ridge Capital Acquisition Corp. Sensei Biotherapeutics, Inc. (NASDAQ:SNSE) shares rose 25.8% following clinical data for SNS-101. Digital Brands Group, Inc. (NASDAQ:DBGI) shares gained 21.7%. Warrantee Inc. (NASDAQ:WRNT) rose 21.4%. RiceBran Technologies (NASDAQ:RIBT) shares climbed 21%. POSCO Holdings Inc. (NYSE:PKX) shares jumped 18.1% following a government ban on short selling in South Korea. BEST Inc. (NYSE:BEST) shares rose 12.1% after receiving a preliminary non-binding proposal to acquire the company. On the other hand, several stocks dipped in pre-market trading, including RiskOn International, Inc. (NASDAQ:ROI), Benson Hill, Inc. (NYSE:BHIL), and ADC Therapeutics SA (NYSE:ADCT).

Portfolio Pulse from Lisa Levin

November 06, 2023 | 1:08 pm

HUBB

Private investment firm Comvest Partners has announced a definitive agreement to sell Systems Control to Hubbell Incorporated (NYSE:HUBB), a manufacturer of utility and electrical solutions. The transaction is expected to close by the end of the year. Systems Control, a leading manufacturer of substation control and relay panels, has been a part of Comvest's private equity strategy since 2018.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 12:48 pm