Streetbeat News

Acquisitions Mergers

VERY

Shares of Vericity were halted ahead of an announcement regarding its acquisition.

Portfolio Pulse from Charles Gross

October 03, 2023 | 11:32 am

DNA

Zymergen, a subsidiary of Ginkgo Bioworks, has filed for Chapter 11 bankruptcy. Ginkgo, which is not filing for bankruptcy, ended Q2 2023 with $1.1 billion in cash and remains well-capitalized. Ginkgo has also entered into an asset purchase agreement with Zymergen to acquire exclusive rights to most of Zymergen's intellectual property assets and certain other assets.

Portfolio Pulse from Charles Gross

October 03, 2023 | 10:59 am

RPM

RPM International Inc. has acquired the wall system fabrication segment of Texas-based NOW Specialties, LLC. The acquired business specializes in Metal Composite Material and Aluminum Composite Material panels and has annual net sales of approximately $20 million. The installation business of NOW was not included in the acquisition.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 10:48 am

LLY

PNT

Eli Lilly and Company (LLY) has agreed to acquire Point Biopharma (PNT) for $12.50 per share in cash, totaling approximately $1.4 billion.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 10:46 am

KITT

Nauticus Robotics has agreed to acquire underwater laser LiDAR technology pioneer, 3D at Depth, for approximately $34M in stock. The transaction is expected to be accretive to Nauticus' 2024 revenue per share, earnings per share, and cash flow per share. In 2022, 3D generated $9.8 million of revenue with a gross profit margin over 60%, and is projected to grow revenue by more than 20% in 2023. Nauticus will also assume about $4.1 million of 3D's debt.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 10:03 am

COMM

CommScope has sold its Home Networks division to Vantiva in exchange for a 25% stake in the company. This move is expected to allow CommScope to focus on its core businesses while still maintaining a significant interest in the home networks market.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 7:22 am

CALM

Cal-Maine Foods, Inc. (NASDAQ:CALM) is expected to report a sharp decline in Q1 earnings, with estimates at 25 cents per share, down from $2.57 per share a year ago. The company's revenue is also expected to decrease to $473.37 million from $617.4 million. Cal-Maine recently agreed to acquire egg production assets of Fassio Egg Farms. The company's shares fell 1.9% to close at $47.52 on Monday. Analysts from Stephens & Co. and Goldman Sachs have given the company an Equal-Weight rating and a Sell rating respectively.

Portfolio Pulse from Lisa Levin

October 03, 2023 | 6:13 am

NWN

NW Natural Water, a subsidiary of NW Natural Holding Company (NWN), has expanded its presence in Arizona with the acquisition of Rose Valley Water Company. This transaction allows NW Natural Water to serve more than 164,000 people through approximately 66,000 connections across five states.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 5:42 am

CHAA

Catcha Investment Corp (CHAA) and Crown LNG have filed a registration statement on Form F-4 for their proposed business merger.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 5:23 am

VEXTF

Vext Science, Inc. (OTCQX:VEXTF) plans to acquire two cannabis dispensaries in Ohio from Big Perm's Dispensary Ohio, LLC for approximately $9.8 million. The company is also raising up to $10 million through a private placement of common shares to support its expansion. This comes ahead of the potential legalization of recreational cannabis in Ohio in November 2023.

Portfolio Pulse from Joana Scopel

October 02, 2023 | 10:10 pm