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Acquisitions Mergers

PFE

RHHBY

ROIV

Roche has agreed to acquire Telavant, including rights to the novel TL1A-Directed Antibody (RVT-3101), from Roivant for $7.1 billion. The deal gives Roche the rights to develop, manufacture, and commercialize RVT-3101 in the US and Japan for the treatment of inflammatory bowel disease and potentially other diseases. Roche will also have an option to collaborate globally with Pfizer on a next-generation p40/TL1A directed bispecific antibody, currently in Phase 1. Telavant was jointly formed by Roivant and Pfizer in 2022.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 5:45 am

NFLX

UBER

Visa Inc. and Mastercard Incorporated are investing billions into African companies to capitalize on the rapid growth of e-commerce in the continent. The investments are focused on mobile money services, which are popular due to the scarcity of conventional banking infrastructures in Africa. The U.S. Commerce Department expects 435 million Africans to make online purchases by the end of the year, nearly double the pre-pandemic level. Mastercard has acquired a minority stake in MTN Group Ltd's fintech business and invested $100 million into Airtel Africa's mobile-money sphere. Visa has pledged to invest $1 billion into Africa over the next five years.

Portfolio Pulse from Nabaparna Bhattacharya

October 22, 2023 | 12:40 am

TSLA

The government of Nuevo Leon in Mexico is planning to invest over $130 million in infrastructure to support the construction of Tesla's future Gigafactory. The project, expected to start in the first half of 2024, is part of a $5 billion Tesla initiative. Nuevo Leon Governor Samuel Garcia also revealed nearly $1 billion in projected investments from Chinese Tesla suppliers.

Portfolio Pulse from Nabaparna Bhattacharya

October 21, 2023 | 5:30 pm

BRLI

Brilliant Acquisition Corporation has extended the deadline for its initial business combination with Nukkleus, Inc. to November 23, 2023. The extension was approved by shareholders and an additional $32,300 was deposited into Brilliant's trust account. The company can further extend the deadline to December 23, 2023, with an additional deposit each month.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 8:17 pm

AJX

EFC

Ellington Financial and Great Ajax Corp. have mutually terminated their merger agreement. Ellington Financial has agreed to pay Great Ajax $16 million, with $5 million in cash and $11 million for 1,666,666 shares of Great Ajax's stock at $6.60 per share. This makes Ellington Financial a holder of approximately 6.1% of Great Ajax's stock. The companies intend to continue working together on mortgage loan opportunities.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 8:15 pm

ENER

The board of Accretion Acquisition has approved an extension of the date by which the company would be required to consummate a business combination. The new deadline is November 25, 2023, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 8:12 pm

FLFV

Feutune Light Acquisition Corporation (NASDAQ:FLFV) has extended the deadline for its initial business combination from October 21, 2023 to November 21, 2023. To facilitate this, $100,000 has been deposited into the company's trust account. The company can extend the deadline on a monthly basis until March 21, 2024 by depositing $100,000 for each month into the Trust Account.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 7:35 pm

CYBN

DMTTF

Small Pharma Inc. (OTCQB:DMTTF) has released its Q2 2024 financial results ahead of its merger with Cybin Inc. (NYSE:CYBN). The results show a 58.6% six-month burn rate, with cash decreasing from $13.5 million in February 2023 to $5.6 million by August 2023. The company also reported a net loss of $2.98 million and $7.1 million for the three and six months ended August 31, 2023. The merger with Cybin is set to create a global DMT business.

Portfolio Pulse from Lara Goldstein

October 20, 2023 | 6:49 pm

LIPO

SEDG

WBUY

XRTX

The article lists the stocks that gained and lost the most in Friday's mid-day session. Among the gainers were XORTX Therapeutics, Lipella Pharmaceuticals, and Catalyst Biosciences, while the losers included WEBUY GLOBAL, SolarEdge Technologies, and Processa Pharmaceuticals. Factors influencing these movements include FDA clearances, strategic appointments, acquisitions, and financial results.

Portfolio Pulse from Lisa Levin

October 20, 2023 | 5:45 pm

LYB

LyondellBasell has acquired a 50% stake in Rodepa Vastgoed B.V., the holding company of De Paauw Sustainable Resources (DPSR), a Dutch plastic waste recycling company. The acquisition aligns with LyondellBasell's strategy to increase access to plastic waste feedstock and expand its production of CirculenRecover products. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 3:16 pm