Streetbeat News

Acquisitions Mergers

ASAN

EGHT

ENB

STEM

Several stocks traded lower in Wednesday's pre-market session, including Enbridge, Enel Chile, Hyzon Motors, Stem, 8x8, Asana, Telefónica, and Aehr Test Systems. Enbridge's shares dipped 8% after it announced acquisitions from Dominion Energy. Enel Chile, Hyzon Motors, and Aehr Test Systems also saw declines. Stem's shares fell following a downgrade by Morgan Stanley. 8x8 shares declined despite the announcement of a new solution to safeguard customers from fraudulent SMS activity. Asana's shares declined despite reporting upbeat Q2 results. Telefónica's shares declined after Saudi Telecom Co. bought a stake in the company.

Portfolio Pulse from Lisa Levin

September 06, 2023 | 10:22 am

SST

System1 has received a non-binding indication of interest from Just Develop It for Total Security Limited. The offer includes $240 million in cash, potential earnout payments, and approximately 29 million System1 shares held by Just Develop It.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 10:07 am

CTRE

CareTrust REIT has acquired a Southern California Skilled Nursing Facility through a joint venture investment. The total investment, combining common equity and preferred equity, amounts to $25.5 million, which was funded using cash on hand.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 10:05 am

CTCX

Carmell Therapeutics Corporation (CTCX) has successfully completed its post-merger integration with Axolotl Biologix. The company has unveiled a new organizational structure that emphasizes aesthetics.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 5:17 am

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), secured a $1 billion loan from SpaceX, his own company, around the time he was acquiring social media company X (formerly known as Twitter). The loan, backed by Musk's SpaceX stocks, was approved and drawn down completely in October and promptly repaid in November. The exact reasoning behind this debt acquisition remains unclear. This borrowing occurred amidst significant investments by SpaceX in its Starship rocket program and the Starlink satellite-internet business.

Portfolio Pulse from Benzinga Neuro

September 06, 2023 | 2:34 am

DWAC

Former President Donald Trump, who is leading in Republican polls for the 2024 election, has started referring to President Joe Biden as 'Crooked Joe'. Trump, who faces multiple lawsuits and indictments, claims Biden has interfered with the investigations. Trump has been indicted four times in 2023 and faces over 90 charges. Trump Media & Technology Group, which Trump will retain control of even if imprisoned, is merging with SPAC Digital World Acquisition Corporation (NASDAQ:DWAC).

Portfolio Pulse from Chris Katje

September 05, 2023 | 11:35 pm

MOBV

Mobiv Acquisition has announced an extension of the deadline to complete its business combination. The new deadline is now set for October 8, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 9:01 pm

VTRU

Vitru's board has approved a corporate restructuring proposal, under which Vitru would merge into its wholly-owned subsidiary Vitru Brazil. The proposed transaction is expected to close in Q4 2023 or Q1 2024. Vitru Brazil would become the new holding company for the Vitru group. Vitru shares are expected to be delisted from the Nasdaq Global Select Market.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 8:52 pm

VSAC

Vision Sensing Acquisition (VSAC) has paid a fee to extend the period to consummate its initial business combination until October 3, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 8:47 pm

ABT

Abbott has agreed to acquire Bigfoot Biomedical, a company that develops smart insulin management systems for people with diabetes. The transaction is expected to close in the third quarter of 2023, but financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 8:32 pm