Streetbeat News

Acquisitions Mergers

EDR

WWE

Endeavor Group Holdings, Inc. (EDR) and World Wrestling Entertainment, Inc. (WWE) shares fell following reports of Saudi Arabia's investment in a UFC competitor, the Professional Fighters League (PFL). SRJ Sports Investments, backed by Saudi Arabia's Public Investment Fund, has purchased a partial share in PFL with a commitment worth over $100 million. This investment will facilitate PFL's expansion into Saudi Arabia and the Middle East.

Portfolio Pulse from Ryan Gustafson

August 31, 2023 | 6:41 pm

MSSTF

OTSKF

Mindset Pharma (OTC:MSSTF) has agreed to acquire all outstanding shares of Otsuka America Inc., the U.S. arm of Otsuka Pharmaceutical Co., for approximately $60 million. The transaction is expected to close on or around October 19, 2023. This acquisition follows Mindset's partnership with Otsuka’s McQuade Center for Strategic Research and Development (MSRD) in January 2022. The deal is seen as a way to maximize Mindset’s IP portfolio and assets value.

Portfolio Pulse from Lara Goldstein

August 31, 2023 | 5:54 pm

RITM

SCU

Founding partners of Sculptor Capital have expressed their support for the $12.76/share offer from the 'Bidder J consortium' to purchase the company, which is higher than the $11.15/share offer from Rithm Capital. The consortium reportedly includes renowned investors Boaz Weinstein, Marc Lasry, Bill Ackman, and Jeff Yass. The partners have urged Sculptor to release more information about the higher bid and to maximize the bidding process for the benefit of shareholders.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 5:39 pm

WWE

WWE shares are trading lower following reports that Saudi Arabia has invested in a UFC competitor. Endeavor Group, the owner of UFC, is merging with WWE.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 5:15 pm

AMZN

One Medical's CEO, Amir Dan Rubin, is leaving the company a year after its acquisition by Amazon for $3.9 billion. Rubin will be replaced by One Medical's COO, Trent Green. Amazon bought One Medical in 2022, shortly before shutting down its telehealth experiment, Amazon Care. Amazon has major ambitions in the healthcare sector, having previously acquired Pillpack in 2018, which became Amazon Pharmacy.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 5:02 pm

ACER

AGIL

AXLA

EFSH

ICCT

The article lists the stocks that have gained and lost the most in Thursday's mid-day session. Acer Therapeutics Inc. (ACER) shares jumped 145% after Zevra Therapeutics announced it will acquire the company. 1847 Holdings LLC (EFSH) surged 66.6% after reporting successful restructuring of promissory notes. iCoreConnect Inc. (ICCT) climbed 51.7% after announcing the closing of its business combination with FG Merger Corp. On the other hand, Axcella Health Inc. (AXLA) shares dipped 29.1%, AgileThought, Inc. (AGIL) shares fell 27.7%, and Lands' End, Inc. (LE) declined 22.4% after reporting worse-than-expected second-quarter results and issuing weak guidance.

Portfolio Pulse from Lisa Levin

August 31, 2023 | 4:50 pm

NCNC

Noco-Noco shares are experiencing volatility following its recent Nasdaq debut and completed business combination with Prime Number Acquisition I Corp. The shares have been trading both higher and lower.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 4:18 pm

NBSE

Symetryx Corp has announced that it is aware of NeuBase Therapeutics' executive management considering potential mergers. Symetryx will consider the merits of any merger, liquidation, or other extraordinary business transaction being proposed by the board of NeuBase.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 4:02 pm

ACER

CGC

DLTH

EFSH

US stocks traded higher with the Nasdaq Composite gaining around 50 points. Consumer discretionary shares jumped by 0.7%. Acer Therapeutics Inc. (ACER) shares shot up 164% after Zevra Therapeutics announced it will acquire the company. 1847 Holdings LLC (EFSH) shares got a boost, shooting 44% after successful restructuring of promissory notes. Canopy Growth Corporation (CGC) shares were up, gaining 27% after the HHS called for moving marijuana to a lower-risk drug category. Lands' End, Inc. (LE) shares dropped 24% after reporting worse-than-expected Q2 results. Dollar General Corporation (DG) shares were down 14% after reporting Q2 FY23 sales growth of 3.9% YoY, missing the analyst consensus. Duluth Holdings Inc. (DLTH) shares fell 13% after reporting a YoY decrease in Q2 EPS results.

Portfolio Pulse from Lisa Levin

August 31, 2023 | 4:02 pm

UGRO

XSHLF

Urban-gro, Inc. (NASDAQ:UGRO) has secured a deal with XS Financial Inc (CSE:XSF) (OTCQB:XSHLF) to retire its convertible note for $2.3 million, a 10% discount to the company’s current book value of the investment. The cash payment is in addition to the $0.3 million of interest earned since the original $2.5 million investment in Q4 2021. Urban-gro initially partnered with XS Financial in 2021 to provide its clients with CAPEX leasing solutions.

Portfolio Pulse from Jelena Martinovic

August 31, 2023 | 3:50 pm