Streetbeat News

Acquisitions Mergers

CTCX

Carmell Therapeutics is merging with Axolotl Biologix. Axolotl's shareholders will receive $65 million in initial equity value, plus up to $75 million in potential milestone equity payments. The payments will be structured as 12% cash and 88% in CTCX stock. Axolotl will operate as a wholly owned subsidiary of Carmell after the merger.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 11:06 am

KDP

Keurig Dr Pepper (KDP) is set to acquire a 33% stake in coffee maker La Colombe. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 11:02 am

SSYS

Stratasys has sent a letter to its shareholders highlighting the value destruction track record of Nano Dimension. The letter is seen as a move to discourage shareholders from supporting Nano Dimension's bid to take over the company.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 6:45 am

RRAC

Rigel Resource Acquisition Corp. (RRAC) has announced a non-binding letter of intent to acquire a metals company. The details of the deal and the name of the metals company have not been disclosed.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 9:04 pm

LPTH

LightPath Technologies has announced the acquisition of Visimid Technologies. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 8:47 pm

AAWH

Ascend Wellness Holdings, Inc. (OTC:AAWH) CFO, Dan Neville, highlighted the capital shortage in the cannabis industry during the Benzinga Cannabis Capital Conference. He noted that the situation is severe for both public and private multi-state operators (MSOs) in the capital-intensive industry. Neville predicts that the capital shortage will continue to fuel consolidation in the industry. Despite these challenges, Ascend Holdings plans to focus on smaller bolt-on M&A, with Maryland being a successful example of this strategy.

Portfolio Pulse from Joana Scopel

July 26, 2023 | 8:44 pm

MDWT

Shareholders of Midwest Holding Inc. have approved a transaction with Antarctica Capital. The details of the transaction were not provided.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 8:41 pm

AJRD

LHX

L3Harris Technologies announced that the Federal Trade Commission (FTC) will not block its acquisition of Aerojet Rocketdyne. This clears a major regulatory hurdle for the deal to proceed.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 8:35 pm

GPS

MAT

Richard Dickson, credited with reviving the Barbie brand at Mattel Inc (NASDAQ:MAT), is set to become the CEO of Gap Inc (NYSE:GPS). Dickson, who has significant experience in the clothing industry, will step down from Mattel on Aug. 3 and begin his new role at Gap on Aug. 22. Gap shares have struggled in recent years, but the announcement of Dickson's appointment has led to a 7.71% increase in the company's shares.

Portfolio Pulse from Chris Katje

July 26, 2023 | 8:23 pm

MXL

SIMO

MaxLinear has given notice that it is relieved of its obligation to close the transaction for the proposed acquisition of Silicon Motion. The reasons include unmet conditions in the Merger Agreement, a Material Adverse Effect suffered by Silicon Motion, and a breach of representations, warranties, covenants, and agreements by Silicon Motion.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 7:49 pm