Streetbeat News

Acquisitions Mergers

TRNO

Terreno Realty Corporation has acquired a property in Redondo Beach, CA for $45.7 million.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 1:18 pm

TRNR

Interactive Strength, Inc. d/b/a FORME (NASDAQ:TRNR) has announced a definitive agreement to acquire CLMBR, Inc., a maker of connected vertical climbers. The deal, valued at $16.9M, is expected to close in Q4 2023. The combined business is projected to generate over $20M in revenue in 2024, potentially becoming cashflow positive and adjusted EBITDA profitable by Q4 2024. The business will be primarily driven by B2B revenue, supported by the acquired sales and distribution partnership with WOODWAY. CLMBR shareholders will receive TRNR common equity with a lock-up until October 2024.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 1:06 pm

CLSK

CleanSpark Inc. (NASDAQ:CLSK) has purchased 4.4 exahashes per second (EH/s) of the recently announced Antminer S21 bitcoin mining machines. The new machines are expected to increase the company's capacity and reduce energy costs per bitcoin mined. The machines, which are expected to start arriving in January 2024, were purchased with favorable terms, including 20% seller-based financing of the total purchase price. Once all machines are deployed, CleanSpark's mining fleet is expected to average 23.5 joules per terahash (J/TH).

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 1:02 pm

VFS

Vinfast Auto has announced its intention to acquire a 99.8% stake in VinES Energy Solutions Joint Stock Company. The acquisition is expected to strengthen Vinfast's position in the electric vehicle market.

Portfolio Pulse from Bill Haddad

October 11, 2023 | 12:47 pm

OMH

Ohmyhome Ltd. has announced the acquisition of Simply Sakal for a consideration of approximately $3.5 million.

Portfolio Pulse from Bill Haddad

October 11, 2023 | 12:45 pm

ONDS

Ondas Holdings Inc. (NASDAQ:ONDS) has appointed Timothy 'T3' Tenne as CEO of its wholly owned subsidiary, American Robotics Inc. Tenne, a former U.S. Air Force officer with extensive experience in global aviation and aerospace industries, will lead the scaling of the business to drive adoption of Ondas' autonomous drone platforms across the Americas. This follows the recent U.S. FAA Type Certification for the Optimus drone system. Tenne's leadership is expected to help manage operations in Israel and the Middle East during the current conflicts.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 12:44 pm

PXD

XOM

Exxon Mobil has announced its plan to acquire Pioneer Natural Resources in an all-stock transaction valued at $59.5B, or $253 per PXD share. This news has led to a decrease in Exxon Mobil's share price.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 12:21 pm

MUX

RIO

McEwen Copper, a subsidiary of McEwen Mining Inc. (NYSE:MUX), has announced a binding agreement for an additional $10 million investment by Nuton LLC, a Rio Tinto Venture. The investment will be used to advance the development of the Los Azules copper project in Argentina and for general corporate purposes. After the transaction, Nuton will own 14.5% of McEwen Copper and McEwen Mining will own 47.7%.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 12:17 pm

BX

DIS

Blackstone Inc (BX) is in preliminary talks with Walt Disney Co (DIS) to acquire a stake in Disney's Indian subsidiary. This comes as Disney is considering a sale or finding a joint venture partner for its digital and TV business in India. The talks were facilitated by Candle Media, a company backed by Blackstone and founded by former Disney executives. Disney has also been in discussions with Indian billionaires Gautam Adani and Kalanithi Maran, and various private equity funds.

Portfolio Pulse from Anusuya Lahiri

October 11, 2023 | 12:10 pm

SYY

Sysco Corporation (NYSE:SYY) has announced plans to acquire Edward Don & Company (DON), a leading distributor of foodservice equipment, supplies, and disposables. The acquisition will allow Sysco to add strategic new capabilities and diversified offerings to its existing business. DON will operate as a standalone specialty division within Sysco upon completion of the transaction. The acquisition is subject to regulatory approval.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 12:01 pm