Streetbeat News

Acquisitions Mergers

NATL

NCR

NCR Atleos has completed its separation from NCR Corporation, which has been renamed to NCR Voyix. Atleos common stock will start trading on the NYSE under the ticker symbol 'NATL' from October 17, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 9:35 pm

FATP

Fat Projects Acquisition has confirmed funding to extend the period to consummate its initial business combination to November 15, 2023. This is the seventh of up to nine one-month extensions permitted under the company's governing documents.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 9:28 pm

DWAC

META

President Joe Biden has joined Truth Social, a social media platform owned by Trump Media & Technology Group (TMTG), which is in the process of merging with Digital World Acquisition Corporation (NASDAQ:DWAC). The move is seen as a strategy to directly engage with former President Donald Trump and his followers. Meanwhile, Trump continues to have a larger social media following than Biden, including on platforms owned by Meta Platforms (NASDAQ:META).

Portfolio Pulse from Chris Katje

October 16, 2023 | 9:25 pm

CPB

SOVO

Sovos Brands' stockholders have voted in favor of the company's acquisition by Campbell Soup. The transaction is expected to close in the fourth quarter of 2023, subject to regulatory approval and other closing conditions.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 8:31 pm

ATVI

MSFT

Microsoft Corporation (MSFT) and Activision Blizzard, Inc. (ATVI) have announced the commencement of private exchange offers and consent solicitations in connection with their previously announced merger. Microsoft is offering to exchange any and all outstanding notes issued by Activision Blizzard for up to $3.65 billion aggregate principal amount of new notes issued by Microsoft and cash. Activision Blizzard is soliciting consents from eligible holders to adopt certain proposed amendments to each of the corresponding indentures governing the existing Activision Blizzard notes.

Portfolio Pulse from Happy Mohamed

October 16, 2023 | 8:21 pm

CPSI

CPSI has acquired Viewgol, a provider of ambulatory revenue cycle management analytics and outsourcing services, for $36M in cash. An additional earnout of up to $31.5M is also part of the deal. Viewgol is expected to generate a GAAP net income of approximately $1.5 million and Adjusted EBITDA of approximately $4.5 million in 2024.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 8:09 pm

CMPS

CYBN

GHRS

MNMD

PSIL

Cybin Inc. (NYSE:CYBN) and Small Pharma Inc. (OTC:DMTTF) shareholders have approved the acquisition of the latter by the former. The FDA has issued a warning about the misuse of ketamine and ketamine-based drugs. The DEA has extended telemedicine flexibilities for controlled medications until the end of 2024. California Governor Gavin Newsom has vetoed a bill to decriminalize certain hallucinogens. Congress is discussing kratom product regulation. The AdvisorShares Psychedelics ETF (NYSE:PSIL) continues to show a downtrend in its opening price. Several psychedelic stocks, including GH Research (NASDAQ:GHRS), COMPASS Pathways (NASDAQ:CMPS), and Mind Medicine (NASDAQ:MNMD), also closed lower.

Portfolio Pulse from Lara Goldstein

October 16, 2023 | 7:57 pm

CNSL

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) has announced an agreement to be acquired by Searchlight Capital Partners and British Columbia Investment Management in an all-cash transaction valued at approximately $3.1 billion. The deal will result in Consolidated Communications becoming a private company and its shares will no longer be traded or listed on any public securities exchange. The transaction is expected to close by Q1 2025.

Portfolio Pulse from Ryan Gustafson

October 16, 2023 | 7:48 pm

ALDX

CNSL

ETWO

OMER

PCTI

SCHW

STRM

U.S. stocks traded higher with the S&P 500 gaining over 1% on Monday. The Charles Schwab Corporation reported better-than-expected earnings for Q3, despite a 16% YoY decline in net revenue. Consolidated Communications Holdings shares rose 16% after announcing an acquisition agreement with Searchlight Capital Partners and British Columbia Investment Management. PCTEL shares rose 47% after Amphenol Corp agreed to acquire the company. E2open Parent Holdings shares rose 24% after Elliott Investment Management reported a 9% stake in the company. Aldeyra Therapeutics shares dropped 67% after receiving feedback from the FDA on their new drug application. Streamline Health Solutions shares fell 68% after announcing a strategic restructuring to cut expenses. Omeros Corporation shares fell 32% after announcing the discontinuation of the ARTEMIS-IGAN trial.

Portfolio Pulse from Lisa Levin

October 16, 2023 | 6:30 pm

APH

PCTI

PCTEL has agreed to be acquired by Amphenol, with stockholders set to receive $7 per share in cash. This has led to a rise in PCTEL's share price.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 5:54 pm