Streetbeat News

Acquisitions Mergers

MEDIF

MediPharm Labs Corp. (TSX:LABS) (OTCQB:MEDIF) has ended its royalty agreement with Shelter Cannabis for the Shelter Cannabis Brands IP portfolio. The supplementary agreement will improve the product line's gross margin, allowing MediPharm to invest more in the brand. MediPharm will continue to review its product categories and selling channels to optimize margins and streamline operations. The company's shares traded 1.35% higher at $81.99 per share during the pre-market session on Wednesday.

Portfolio Pulse from Jelena Martinovic

September 20, 2023 | 1:42 pm

DHER

Delivery Hero is planning to partially sell its Asia business, with Singapore-based Grab being a potential buyer, according to Wiwo magazine.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 1:36 pm

BZAMF

TGODF

Canadian cannabis producer BZAM Ltd. has laid off over 90 employees and sold facilities as part of its plan to unlock synergies following the merger with The Green Organic Dutchman Holdings Ltd. The company expects to save $28 million from these actions, which will be used to pay off its $29 million debt. BZAM plans to launch new products in 2023 and 2024 and expand into the European market.

Portfolio Pulse from Jelena Martinovic

September 20, 2023 | 1:29 pm

AKAN

Akanda Corp. has signed an option to develop a THC and CBD farming facility in Canada. As part of the agreement, Akanda will issue a non-refundable payment of $1.8 million.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 1:02 pm

LEEEF

LEEF Brands Inc. has acquired a 1,900-acre ranch in Santa Barbara County for cannabis cultivation. The company sold a 60% interest in the ranch for $7.0 million, the proceeds of which will be used to finance the operation of one of the largest biomass cultivation sites in California. LEEF will retain 100% ownership of the state cannabis licenses and will manage the ranch and cultivation operation exclusively. The company's shares closed 22.56% lower at $0.023 per share.

Portfolio Pulse from Nina Zdinjak

September 20, 2023 | 12:51 pm

CATC

Cambridge Bancorp has announced a definitive agreement to merge with Eastern Bankshares, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 12:48 pm

EBC

Eastern Bankshares has announced its plans to sell the insurance operations of Eastern Insurance Group and merge with Cambridge Bancorp. This has led to a decrease in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 12:37 pm

KKR

Goldman Sachs is reportedly in advanced talks to sell its specialty lender, GreenSky, to a consortium of investment firms including Sixth Street, Pacific Investment Management, and KKR & Co Inc. The deal is expected to be worth $500 million, significantly less than the $1.7 billion Goldman paid for the business a year and a half ago. This comes after Goldman's consumer-lending business, including GreenSky, lost about $4 billion since 2020.

Portfolio Pulse from Shivani Kumaresan

September 20, 2023 | 12:25 pm

AVGR

BRDS

ELUT

EXAI

FRTX

SPRY

Shares of several companies including TransCode Therapeutics, Fresh Tracks Therapeutics, EBET, Exscientia, Histogen, Rail Vision, Avinger, Inhibikase Therapeutics, Microbot Medical, and Cheche Group are trading higher in pre-market. Fresh Tracks Therapeutics and Histogen announced plans of liquidation and dissolution. Exscientia and Merck announced collaboration on AI-driven drug discovery. Avinger announced the commercial launch of its Tigereye ST image-guided CTO crossing device. On the other hand, shares of ARS Pharmaceuticals, Connexa Sports Technologies, Bird Global, TD Holdings, AgileThought, Elutia, Digital Transformation Opportunities Corp., Cybin, and Revance Therapeutics are trading lower. ARS Pharmaceuticals received a Complete Response Letter from the FDA for its neffy® Epinephrine nasal spray. Bird Global announced its purchase of micromobility operator Skinny Labs for $19 million. Elutia announced a $26 million private placement of shares.

Portfolio Pulse from Lisa Levin

September 20, 2023 | 12:19 pm

ATVI

MSFT

VGK

The UK's Competition and Markets Authority (CMA) is expected to issue a preliminary decision on Microsoft's Activision Blizzard deal next week. This follows Microsoft restructuring its deal to transfer cloud gaming rights for current and new Activision Blizzard games to Ubisoft. The final decision is due by October 18th.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 12:15 pm