Streetbeat News

Acquisitions Mergers

CLVT

Clarivate has announced the establishment of an Academia & Government Innovation Incubator and the acquisition of Alethea, an AI student engagement solution. The moves are aimed at enhancing the company's offerings in the academic and government sectors.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 7:11 am

BTCUSD

DOGEUSD

ETHUSD

MSTR

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin saw gains following an announcement by MicroStrategy (NASDAQ:MSTR) of their acquisition of approximately $150 million worth of Bitcoin. MicroStrategy now holds around 158,245 BTC, acquired for an aggregate purchase price of approximately $4.68 billion. Analysts note that when MicroStrategy increases its BTC holdings, the market tends to experience further dips.

Portfolio Pulse from Mehab Qureshi

September 26, 2023 | 2:31 am

FAT

FAT Brands has acquired Smokey Bones Bar & Fire Grill Restaurant Chain from an affiliate of Sun Capital Partners for $30 million. This marks FAT Brands' first entry into the barbecue sector and expands its portfolio of polished dining chains. The acquisition is expected to increase annual adjusted EBITDA by approximately $10 million and add 61 new corporate locations.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 10:02 pm

CCG

Cheche Group Inc. (NASDAQ:CCG) shares traded lower amid volatility following the company's business combination with Prime Impact Acquisition. The stock has been volatile since it began trading on the Nasdaq Stock Market under the ticker symbol 'CCG' on Sept. 18, with shares down 17.98% at market close Monday.

Portfolio Pulse from Ryan Gustafson

September 25, 2023 | 9:24 pm

GRIN

Grindrod Shipping Holdings is set to acquire Taylor Maritime Management Limited and Tamar Ship Management Limited for a total consideration of approximately $11.75M-$13.5M. The acquisition will be financed through a combination of cash and new Grindrod Shipping ordinary shares over two years.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 8:25 pm

MOFG

MidWestOne Financial Group, Inc. (NASDAQ:MOFG) has announced the sale of its Florida operations to DFCU Financial in an all-cash deal. The transaction, approved by the respective boards of directors, is expected to close in Q2 2024. MidWestOne will receive a deposit premium of 7.5%, or approximately $11.9 million, pre-tax, based on its deposits as of June 30, 2023. The sale includes the transfer of $158.8 million of deposits, $162.2 million in gross loans, and two branches.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 8:21 pm

BEBE

RILY

B. Riley is set to increase its total holdings of bebe to approximately 76% by acquiring 3.7 million common shares from founder Manny Mashouf at $5.00 per share, totaling $18.5 million.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 8:03 pm

CCG

Cheche Group shares are experiencing volatility and trading lower following the company's business combination with Prime Impact Acquisition last week.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 7:46 pm

ANGO

MMSI

H.C. Wainwright initiated coverage on AngioDynamics Inc (ANGO) with a 'Buy' rating and a price target of $19, noting the company's debt-free status and significant undervaluation compared to peers. AngioDynamics, which generates over 80% of its revenue from the U.S., has substantial room for growth in the high-growth Med Tech segment. The company recently sold its Dialysis product portfolio and BioSentry Tract Sealant System Biopsy product to Merit Medical Systems Inc (MMSI) for $100 million.

Portfolio Pulse from Vandana Singh

September 25, 2023 | 7:34 pm

SO

Southern Power, a subsidiary of Southern Company, has acquired its 30th solar project, the 150-megawatt South Cheyenne Solar Facility, from Qcells USA Corp. The project, located in Wyoming, is Southern Power's first solar facility in the state. Construction is underway and the project is expected to be operational in Q1 2024. The electricity and associated renewable energy credits generated by the facility will be sold under a 20-year power purchase agreement.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 7:10 pm