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Acquisitions Mergers

BTCUSD

CORZQ

Bankrupt Bitcoin miner Core Scientific Inc (OTC:CORZQ) has announced the purchase of 27,000 Bitcoin mining servers from Bitmain in a deal valued at $77 million. The deal includes $23.1 million in cash and $53.9 million in Core Scientific common stock. The stock's per-share value will be determined in line with a bankruptcy court-approved Chapter 11 plan of reorganization. The newly acquired servers are expected to enhance Core Scientific's mining fleet's efficiency, especially in anticipation of the upcoming Bitcoin halving event.

Portfolio Pulse from Murtuza Merchant

September 22, 2023 | 4:20 pm

STLA

Stellantis N.V. (NYSE:STLA) is planning to invest 2.5 billion reais ($508.20 million) in its Rio de Janeiro facility for the production of the model C3 AirCross, a seven-seat SUV. This investment is part of a cycle that ends in 2025. The company recently inaugurated its first Battery Technology Center in Turin, Italy, and proposed a new contract that might lead to the closure of 18 U.S. facilities.

Portfolio Pulse from Nabaparna Bhattacharya

September 22, 2023 | 3:38 pm

IMAX

Letko Brosseau, an investment manager controlling about 1.7% of IMAX China Holding, Inc's shares, plans to vote against IMAX Corporation's proposal to take IMAX China private. Letko Brosseau believes the offer undervalues IMAX China and benefits IMAX Corporation at the expense of minority investors. The offer comes as IMAX China is recovering from the COVID-19 pandemic, with all theatres reopened and significant recovery of revenue and profit.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 3:35 pm

ABAT

BRDS

EXAI

NIO

PINS

Benzinga's Stock Whisper Index highlights five stocks warranting attention for the week of Sept. 22, 2023. These include Nio Inc, which plans to raise $1 billion through convertible senior notes and launch a smartphone for its vehicles; Pinterest, which expects revenue growth in the mid to high teens for the next three to five years and announced a $1 billion share buyback plan; Exscientia Plc, which announced a collaboration with Merck KGaA; Bird Global, which announced the acquisition of Spin; and American Battery Technology, which completed an uplisting from the OTC to the Nasdaq.

Portfolio Pulse from Chris Katje

September 22, 2023 | 2:40 pm

MURF

Murphy Canyon Acquisition Corp's shares are trading lower due to volatility following its business combination with Conduit Pharmaceuticals.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 2:15 pm

ATVI

MSFT

NVDA

SONY

UBSFY

Microsoft has revised its acquisition strategy for Activision Blizzard after facing regulatory hurdles in the U.K. The initial $69 billion bid was met with resistance due to concerns over potential dominance in the cloud gaming sector. The updated proposal includes Microsoft relinquishing cloud rights for current and upcoming Activision games for 15 years to UbiSoft Entertainment. Microsoft has also committed to releasing game versions compatible with other operating systems. The decision on the revised proposal is expected by October 18.

Portfolio Pulse from Anusuya Lahiri

September 22, 2023 | 2:13 pm

CCG

Cheche Group's shares are experiencing increased volatility following its business combination with Prime Impact Acquisition I. The company also announced a successful, ongoing collaboration with Li Auto.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 1:26 pm

NNDM

SSYS

Nano Dimension (NNDM) has reaffirmed its opposition to the merger between Stratasys (SSYS) and Desktop Metal (DM), joining a growing consensus that includes large shareholder Donerail and proxy advisor ISS. Critics argue the deal will be highly dilutive, requiring Stratasys to pay a premium and provide financial support to Desktop Metal, while offering limited upside. They also accuse the Stratasys board of governance malpractice for approving a deal to issue shares at less than half the price of a prior all-cash offer, which they rejected.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 1:17 pm

THAR

Hillstream BioPharma is planning to acquire a clinical stage asset and has announced a corporate name change to Tharimmune. The company's stock will trade on Nasdaq under the ticker 'THAR' effective from September 25, 2023. Tharimmune also expects to launch and complete a Phase 1 trial in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 1:06 pm

MURF

Conduit Pharmaceuticals and Murphy Canyon Acquisition Corp. (NASDAQ:MURF) have completed their previously announced business combination. Conduit will commence trading on September 25, 2023, under ticker symbol 'CDT' for its common stock and 'CDTTW' for its warrants on The Nasdaq Global Market and The Nasdaq Capital Market respectively. The pro forma enterprise value at the debut of trading will be approximately $720 million. MURF has changed its name to Conduit Pharmaceuticals Inc. and will begin trading under the new ticker symbols.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 1:05 pm