Streetbeat News

Acquisitions Mergers

MITA

MITAU

Coliseum Acquisition Corp. (NASDAQ:MITAU, MITA, MITAW) has announced a third extension of the deadline to complete its initial business combination to September 25, 2023. This is the third of twelve potential one-month extensions available to the company. Berto LLC, an affiliate of Harry L. You, deposited $100,000 into Coliseum's trust account in connection with this extension.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 8:33 pm

AURC

BETR

Better Home & Finance Holding Company (Better.com) saw its shares hit new lows in its first day of trading following a SPAC merger with Aurora Acquisition Corp. The company had previously faced controversy when CEO Vishal Garg fired 900 employees over a Zoom call. An SEC investigation into potential securities law violations was concluded earlier this month, clearing the way for the merger. On its market debut, Better.com saw around 90% of its valuation wiped out, with shares crashing to $1.10 and closing the day at $1.20.

Portfolio Pulse from Chris Katje

August 25, 2023 | 8:17 pm

SRT

Startek, Inc. (NYSE:SRT) has formed a special committee to evaluate a non-binding proposal by CSP Management Limited to acquire all the shares of Startek that it does not already own for $3.80 per share. CSP currently owns approximately 56% of Startek's outstanding shares. The special committee has engaged Gibson, Dunn & Crutcher LLP as its counsel and Houlihan Lokey, Inc. as its financial advisor. No decisions have been made yet and there is no assurance that any definitive offer will be made or accepted.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 8:12 pm

CEQP

DINO

ET

HEP

Raymond James analyst Justin Jenkins has downgraded the ratings of Holly Energy Partners LP (HEP) and Crestwood Equity Partners LP (CEQP) to Market Perform from Outperform due to separate acquisition deals. Crestwood Equity is merging with Energy Transfer LP (ET) for around $7.1 billion, a deal seen as more rewarding for ET. Holly Energy is acquiring HF Sinclair Corporation (DINO) in a deal involving common stock and cash. Both deals are expected to close in Q4 FY23.

Portfolio Pulse from Lekha Gupta

August 25, 2023 | 7:30 pm

S

Cybersecurity startup Wiz is reportedly considering a bid for SentinelOne, according to Bloomberg. No final decision has been made yet.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 7:08 pm

TWNK

Hostess Brands is reportedly working with Morgan Stanley to explore a potential sale. This news has led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 6:58 pm

BCTX

BriaCell Therapeutics Corp. (NASDAQ:BCTX) has received court approval for a plan of arrangement to spin out certain pipeline assets, including Bria-TILsRx™ and protein kinase C delta (PKCδ) inhibitors, to BriaPro Therapeutics Corp. (SpinCo). The arrangement will result in a 2/3 owned subsidiary of BriaCell, with the remaining 1/3 held by BriaCell shareholders. The arrangement is expected to take place on August 31, 2023. Following the arrangement, BriaCell will remain listed on the NASDAQ and Toronto Stock Exchange, while SpinCo will become an unlisted reporting issuer in Canada.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 6:57 pm

TWNK

Hostess Brands is reportedly working with Morgan Stanley to explore a potential sale of the company. The news was reported by Reuters, but no further details were provided.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 6:41 pm

RYZB

Radiopharmaceuticals startup RayzeBio Inc has filed for an initial public offering (IPO) to raise up to $100 million. The company, which focuses on cancer therapies, plans to list on the Nasdaq under the symbol RYZB. Its lead candidate, RYZ101, is designed to deliver a potent alpha particle radioisotope to tumors. The IPO proceeds will also be used to develop RYZ801 and RYZ811, two radiopharmaceuticals for phase 1 trials in hepatocellular carcinoma. RayzeBio has already secured $418 million in funding from investors including venBio Partners, Venrock Healthcare Capital Partners, Versant Ventures, and Viking Global Investors.

Portfolio Pulse from Vandana Singh

August 25, 2023 | 5:56 pm

A

ABCM

DHR

Danaher Corporation is leading the race to acquire Abcam, outbidding Agilent Technologies, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 5:54 pm