Streetbeat News

Acquisitions Mergers

ICCT

iCoreConnect has acquired the assets of Preferred Dental Services, a provider of dental billing, claims, and insurance management services. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 9:32 pm

BUD

Blaze Life Holdings (BLH) has appointed Anheuser-Busch InBev SA/NV (NYSE:BUD) veteran, Shreyas Balakrishnan, as its new CEO. Balakrishnan has nearly two decades of experience in brewing and distillery operations, distribution, sales, and M&A. His leadership led to Cutwater Spirits becoming the #1 RTD Cocktail Brand in the US. BLH aims to model its distribution on the regulated alcohol industry's three-tier system.

Portfolio Pulse from Joana Scopel

September 07, 2023 | 9:01 pm

CSL

Carlisle Companies has announced that it is starting the process to sell Carlisle Interconnect Technologies (CIT), a company that designs and manufactures high-performance wire and cable, including optical fiber for various markets.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 9:00 pm

PRU

Prudential Financial and Warburg Pincus, along with a group of investors, have announced the launch of Prismic Life Re, a licensed Class E Bermuda-based life and annuity reinsurance company. Both parties have agreed to make equity investments in Prismic and will oversee its long-term strategy through participation on its board of directors.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 8:34 pm

MBIN

Bank of Pontiac and CBI Bank & Trust are set to acquire branches of Farmers-Merchants Bank of Illinois. Bank of Pontiac will acquire approximately $157 million in deposits and $22 million in loans, while CBI Bank & Trust will acquire approximately $62 million in deposits and $27 million in loans. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 8:17 pm

CDXS

Codexis has entered an agreement for the assignment and assumption of its San Carlos facility lease. The company estimates it will realize cumulative cash savings of more than $30 million through 2031 due to consolidating operations to its headquarters in Redwood City, California.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 8:11 pm

AREB

PALI

SAIC

SASI

SPWH

WHLR

YEXT

U.S. stocks traded mixed with Dow Jones gaining and NASDAQ falling. Science Applications International Corp (SAIC) reported upbeat Q2 results and raised revenue guidance. Sigma Additive Solutions (SASI) and Wheeler Real Estate Investment Trust (WHLR) saw shares rise due to acquisition plans and redemption forms respectively. American Rebel Holdings (AREB) gained due to increased demand for its safes. Palisade Bio (PALI), Sportsman's Warehouse Holdings (SPWH), and Yext (YEXT) saw shares drop due to direct offering, poor Q2 earnings, and mixed Q2 results respectively.

Portfolio Pulse from Lisa Levin

September 07, 2023 | 6:30 pm

XPOF

B. Riley Securities analyst Jeff Van Sinderen reiterated a Buy rating on Xponential Fitness Inc (XPOF) with a price target of $46. The company provided FY26 operating targets which the analyst believes reflect conservatism by management. XPOF's recent acquisition was BFT in October 2021, and the company is focused on increasing AUV while leveraging support functions at the corporate level. XPOF currently trades at 8x the analyst’s FY24 AEBITDA estimate.

Portfolio Pulse from Shivani Kumaresan

September 07, 2023 | 6:12 pm

KER

LVMUY

French billionaire François-Henri Pinault has acquired a minority stake in Creative Artists Agency (CAA), valuing the talent agency at $7 billion. The deal could help Pinault's Kering luxury brands compete with rival LVMH. Bryan Lourd is set to become CEO of CAA after the deal closes.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 5:07 pm

TAP

TLRY

Cannabis beverage producer Nevis Brands Inc. has secured an agreement with Silver State Wellness to produce and distribute its 100mg THC beverage, Major, to Nevada cannabis retailers. The product will be available for sale by September 30, 2023. The trend of expansion into the beverage space is growing among cannabis companies, with Tilray Brands, Inc. recently acquiring the remaining 57.5% equity ownership of Truss Beverage Co. from Molson Coors Canada.

Portfolio Pulse from Jelena Martinovic

September 07, 2023 | 4:36 pm