Streetbeat News

Acquisitions Mergers

ASPA

LGIQ

Abri SPAC I, Inc. (NASDAQ:ASPA) has completed its business combination with DLQ, Inc., a subsidiary of Logiq, Inc (OTCQX: LGIQ). The combined company, named Collective Audience, Inc., will trade on the Nasdaq Global Market under the ticker symbol 'CAUD' from November 3, 2023. The merger was advised by Chardan Capital Markets and the new company will be led by Brent Suen.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:49 pm

WWAC

Worldwide Webb Acquisition Corp. (WWAC) announced that its stockholders approved all proposals related to the business combination with Aark Singapore Pte. Ltd. and its subsidiary, Aeries Technology. Approximately 99.87% of the votes cast at the meeting, representing about 81.71% of WWAC's outstanding shares, voted to approve the Business Combination. The combined company will operate as Aeries Technology, Inc. and its shares of Class A common stock and warrants are expected to trade on The Nasdaq Stock Market LLC beginning November 7, 2023 under the symbols 'AERT' and 'AERTW'.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:44 pm

APO

Apollo-managed infrastructure funds are set to acquire a majority stake in Modern Aviation, a fixed base operator platform serving various aviation segments. The current owner, Tiger Infrastructure Partners, and Modern Aviation's management team will reinvest alongside the Apollo Funds. The acquisition will bolster Modern Aviation's shareholder base to support future strategic growth initiatives. The transaction is subject to regulatory approvals and is expected to close by year-end. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:34 pm

CODI

FOXF

Compass Diversified (CODI) has announced a definitive agreement to sell its subsidiary, Wheelhouse Holdings, the parent company of Marucci Sports, to Fox Factory Holding Corp. (FOXF) for an enterprise value of $572 million. CODI expects to realize a pre-tax gain on the sale of between $225 million to $245 million. The proceeds will be used to pay down outstanding debt and for general corporate purposes. The transaction is expected to close in November 2023.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:15 pm

PD

PagerDuty, Inc. (NYSE:PD) has announced its intention to acquire Jeli, Inc. The acquisition aims to bolster PagerDuty's Operations Cloud by integrating Jeli's incident management solution, thereby improving enterprise resilience and reducing operational failure risk. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 9:08 pm

CVX

HES

XOM

Bernstein analyst Bob Brackett revised ratings on several oil majors following their earnings release. Exxon Mobil Corp (XOM) was reiterated at Outperform with a lowered price target of $139.00. Chevron Corp (CVX) was upgraded to Outperform with a lowered price target of $182. Hess Corp (HES) was downgraded to Market Perform with a reduced price target of $166. The analyst sees the Pioneer Natural Resources Co (PXD) acquisition as beneficial for XOM and the HES acquisition as more strategic for CVX.

Portfolio Pulse from Lekha Gupta

November 02, 2023 | 7:45 pm

EEX

FLGC

GNLN

Several changes in leadership and board positions have occurred in the cannabis industry. Suzanne Bergeron has been appointed as the new president and CEO of the Société québécoise du cannabis (SQDC). In Morocco, Mohamed El Guerrouj has been named the general director of the Morocco National Agency for Regulating Cannabis Related Activities (ANRAC). In the U.S., Debra Hilton-Creek has been named the acting executive director of the Massachusetts Cannabis Control Commission (CCC). Several cannabis companies including Greenway Greenhouse Cannabis Corporation, StateHouse Holdings Inc., Glass House Brands Inc., Rubicon Organics Inc., Greenlane Holdings, Inc., Flora Growth Corp., and Nextleaf Solutions Ltd. have also announced changes in their board of directors.

Portfolio Pulse from Jelena Martinovic

November 02, 2023 | 6:41 pm

TAC

TransAlta Corporation (NYSE:TAC) has announced its plan to acquire Heartland Generation Ltd. from Energy Capital Partners for approximately $658 million. The deal includes the assumption of $268 million of low-cost debt. The acquisition will add 1,844 MW of flexible capacity to TransAlta's portfolio, including contracted cogeneration, peaking generation, transmission capacity, and development opportunities in hydrogen. The transaction is expected to close in the first half of 2024.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 6:29 pm

FUN

SIX

Land & Buildings, a significant shareholder of Six Flags Entertainment Corporation (SIX), has expressed its intention to vote against the proposed merger between Six Flags and Cedar Fair (FUN). The shareholder believes that the merger does not maximize value for all shareholders and suggests that monetizing Six Flags' real estate, which is likely worth nearly $30 per share, represents a superior pathway.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 6:28 pm

OLIT

OTLK

The article lists the stocks that gained and lost the most in Thursday's mid-day session. Some of the top gainers include OmniLit Acquisition Corp., Panbela Therapeutics, Inc., Lemonade, Inc., and Aware, Inc. due to positive news such as merger approvals, publication of clinical data, and strong quarterly results. On the other hand, Outlook Therapeutics, Inc., Confluent, Inc., Remitly Global, Inc., and Acurx Pharmaceuticals, Inc. were among the top losers due to negative news such as additional clinical trials required for approval, mixed financial results, and disappointing efficacy results from a Phase 2 trial.

Portfolio Pulse from Lisa Levin

November 02, 2023 | 6:26 pm