Streetbeat News

Acquisitions Mergers

CRVUSD

TRXUSD

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Justin Sun, the founder of TRON (CRYPTO: TRX), has purchased approximately $2.9 million worth of Curve (CRYPTO: CRV) tokens from Michael Egorov, the founder of Curve Finance. The transaction was confirmed by blockchain security company PeckShield and blockchain data analytics platform Lookonchain. Sun withdrew two million Tether (CRYPTO: USDT) from AAVE (CRYPTO: AAVE) and transferred them to Egorov, who in return transferred around five million CRV to Sun.

Portfolio Pulse from Murtuza Merchant

August 04, 2023 | 9:27 am

TMDX

TransMedics Group, Inc. (NASDAQ:TMDX) has announced a definitive agreement to acquire Summit Aviation, a U.S. charter flight operator. The acquisition is expected to close in Q3 2023 and will establish TransMedics as the first national provider of air logistics dedicated to organ transplantation in the U.S. Ben Walton, Founder of Summit, will join TransMedics as VP of Aviation Services post-acquisition.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 9:23 am

PCRFY

QS

WDC

QuantumScape Corp has appointed Dr. Siva Sivaram, President of Western Digital Corp, to the newly created role of President. Dr. Sivaram will lead QuantumScape's technology and manufacturing groups as the company transitions from R&D to production. QuantumScape recently announced it shipped updated prototype unit cells to automotive customers and completed equipment installation for its new fast separator production process.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 9:08 am

TSNDF

TSX:TSND

TerrAscend Corp. has released preliminary and unaudited financial results for Q2 2023, showing a 12.7% YoY increase in net revenue to $72.1M. The company's gross profit margin also increased to 50.2%. For the full year 2023, the company expects net revenue and adjusted EBITDA from continuing operations to be at least $305M and $58M respectively. The company has also acquired four dispensaries in Maryland and listed on the TSX.

Portfolio Pulse from Vuk Zdinjak

August 04, 2023 | 9:07 am

USPH

U.S. Physical Therapy (USPH) has acquired a 70% equity interest in a five-clinic physical therapy practice for $2.1 million. The current owners will retain a 30% equity interest. The business generates around $2.4 million in annual revenues.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2023 | 3:19 pm

AVCNF

Avicanna Inc. has completed the acquisition of the Medical Cannabis by Shopper’s Business from Shoppers Drug Mart and launched a medical cannabis care platform, MyMedi.ca. The platform, which has launched nationwide in Canada, features a medical cannabis marketplace, patient care service programs, patient education programs, and medical education resources. The acquisition is seen as a transformational milestone for Avicanna.

Portfolio Pulse from Vuk Zdinjak

August 01, 2023 | 2:59 pm

MRK

Merck & Co Inc reported Q2 sales of $15.04 billion, up 3% Y/Y, beating the consensus of $14.39 billion. The company swung into a loss due to a $4.02 per share acquisition charge for Prometheus Biosciences. However, Merck raised its FY23 revenue outlook to $58.6-$59.6 billion, up from the previous guidance of $57.7-$58.9 billion. MRK shares are up 1.74% in premarket trading.

Portfolio Pulse from Vandana Singh

August 01, 2023 | 2:56 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) has hired Puneet Chandok, previously of Amazon Web Services, as Corporate Vice President of Microsoft India and South Asia, effective from September 1, 2023. Chandok will oversee the integration of Microsoft's businesses across South Asia and aims to boost the company’s presence in the region with a customer-centric approach and generative AI at its core.

Portfolio Pulse from Benzinga India Staff

August 01, 2023 | 2:48 pm

CVII

UK-based CorpAcq Holdings Limited is set to go public through a business combination with Churchill Capital Corp VII (NYSE:CVII), a special purpose acquisition company. The transaction values CorpAcq at approximately $1.58 billion and is expected to provide CorpAcq with up to $592 million in cash held in Churchill VII's trust account. The combined company will operate as CorpAcq and intends to list on the New York Stock Exchange. CorpAcq also plans to initiate a dividend policy from closing, supported by free cash flow from current operations.

Portfolio Pulse from Happy Mohamed

August 01, 2023 | 1:59 pm

OSTK

Bed Bath & Beyond, which was purchased by Overstock.com, Inc. (NASDAQ:OSTK) in June, has launched its new e-commerce platform in the U.S. The launch marks a transformation for both companies, merging them into a single online shopping destination under the Bed Bath & Beyond name. The new platform will offer a wider range of products and exclusive deals. Overstock will be rebranded as Bed Bath & Beyond and will eventually sunset its original brand.

Portfolio Pulse from Happy Mohamed

August 01, 2023 | 1:43 pm