Streetbeat News

Acquisitions Mergers

HSBC

SCBFF

SCBFY

Singapore-based startup Silent Eight, backed by HSBC and Standard Chartered, is planning for an IPO by 2025. The company uses AI to assist financial institutions in combating financial crimes. With its software being adopted by major banks, Silent Eight is expected to see substantial growth. The company's revenue is set to triple this year, and it is expected to achieve profitability for the first time.

Portfolio Pulse from Nabaparna Bhattacharya

September 23, 2023 | 8:32 pm

HOOD

PYPL

Robinhood (NYSE:HOOD) is undergoing significant internal changes, including layoffs and team reorganizations, as it shifts its focus towards the credit card sector. The company's monthly active users and transaction-based revenues have decreased, and its shares have declined nearly 8.2% over the last month. Robinhood recently acquired the no-fee credit card startup X1 for $95 million, a move seen as a strategy to reverse the declining trend.

Portfolio Pulse from Nabaparna Bhattacharya

September 23, 2023 | 3:59 pm

COIN

Coinbase Inc. (NASDAQ:COIN) had considered acquiring FTX Europe to expand its crypto derivatives offerings globally, following FTX Europe's bankruptcy in November. FTX Europe was the sole provider of a sought-after type of crypto derivative known as perpetual futures in Europe. Despite FTX's challenges, FTX Europe continued to attract numerous users. However, Coinbase has since withdrawn from potential acquisition talks.

Portfolio Pulse from Murtuza Merchant

September 22, 2023 | 9:26 pm

MGNX

MacroGenics Inc and Provention Bio have amended their asset purchase agreement. Concurrently, MacroGenics and Aventis Inc have mutually terminated their royalty purchase agreement, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:47 pm

SLAC

Social Leverage Acquisition Corp I (SLAC) and W3BCLOUD have mutually agreed to terminate their business combination agreement, according to an SEC filing. SLAC will now seek an alternative business combination.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:32 pm

BRLI

Brilliant Acquisition Corporation has announced an extension of its completion window to October 23, 2023. The extension is to allow Brilliant enough time to finalize its proposed business combination with Nukkleus.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:18 pm

PACB

Pacific Biosciences of California has achieved a commercial milestone under its merger agreement, as reported on September 20.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:09 pm

CSCO

GM

SPLK

STLA

The Federal Open Market Committee (FOMC) decided to leave rates unchanged at 5.25%-5.5%, signaling a more hawkish path ahead. Treasury yields hit 17-year highs. Cisco Systems announced an agreement to acquire cybersecurity company Splunk. The stock market witnessed a volatile week with the S&P 500 Index and the Nasdaq 100 recording their worst trading week since early March 2023. Interest rate-sensitive sectors underperformed, while defensive angles fared better. The United Auto Workers revealed its plan to widen the scope of strikes to 38 facilities in 20 states, primarily targeting General Motors and Stellantis.

Portfolio Pulse from Piero Cingari

September 22, 2023 | 8:07 pm

HMST

HomeStreet, Inc. (NASDAQ:HMST) has responded to Blue Lion Capital's proposal to sell its FNMA Delegated Underwriter and Servicer business (DUS Business) and related loan servicing portfolio. Blue Lion Capital estimated the value of the DUS Business between $100 million and $150 million. However, HomeStreet received an unsolicited non-binding written proposal to purchase the DUS Business for $57 million, which the company deemed inadequate.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 7:59 pm

CHEK

Symetryx Corporation has announced its opposition to the merger between CHECK-CAP Ltd. and Keystone Dental Holdings, Inc., stating it does not believe the transaction is in the best interest of Check-Cap shareholders. Symetryx has expressed concerns over Check-Cap's financial stability and the transparency of the Business Combination Agreement.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 7:35 pm