Streetbeat News

Acquisitions Mergers

INPX

Inpixon (NASDAQ:INPX) shares are trading higher after the company announced a definitive merger agreement with XTI Aircraft Company. The merger will result in a combined publicly traded company focusing on advancing the TriFan 600 to market and continuing to offer Inpixon's real-time location systems technology. Post-merger, XTI shareholders will own approximately 60% and Inpixon shareholders will retain approximately 40% of the outstanding shares. The merger is expected to be completed by Q4 2023.

Portfolio Pulse from Vandana Singh

July 25, 2023 | 4:55 pm

APO

ARNC

Arconic Corporation's shareholders have approved the company's acquisition by funds managed by Apollo, including a minority investment from Irenic Capital Management. Arconic shareholders will receive $30 per share in cash for every share they own prior to the merger. The transaction is expected to close in Q3 2023.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 4:31 pm

CRM

Jeff Ragovin, former CCO of Fyllo, a cannabis compliance technology platform, has been promoted to president. Ragovin co-founded Buddy Media, which was acquired by Salesforce Inc (NYSE:CRM) for $745 million in 2012. In his new role, he will lead the development and implementation of data and media solutions for traditional brands and regulated industries, and expand Fyllo's solution for optimal advertising performance in a privacy-compliant environment.

Portfolio Pulse from Jelena Martinovic

July 25, 2023 | 4:03 pm

NKLA

Nikola Corporation's shares are trading lower, with a 10% drop over the last five sessions. This follows a fire incident at the company's headquarters involving one of its trucks that had previously caught fire. Additionally, Nikola announced that FFI will acquire its Phoenix Hydrogen Hub project, providing the necessary capital and resources for its development. Despite the recent drop, Nikola's stock is up by over 70% in the last month.

Portfolio Pulse from Erica Kollmann

July 25, 2023 | 3:58 pm

KKR

Private-equity firm KKR is selling audiobook publisher RBmedia to investment firm H.I.G. Capital. The move comes as consumer demand for spoken content grows.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 3:49 pm

AMNB

AUB

Atlantic Union Bankshares (NYSE:AUB) has announced a merger with American National (NASDAQ:AMNB) expected to be completed in Q1 of 2024. The terms of the agreement involve Atlantic Union Bankshares giving American National $416.80 million in exchange for AMNB stock. The form of payment has not been disclosed.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 3:10 pm

AMZN

IRBT

IRobot Corp's stock is trading lower after Amazon reduced the purchase consideration for the Roomba maker's takeover by 15%. The new terms state that Amazon will pay $51.75 per share, down from $61.00 per share. iRobot has also entered into a $200 million financing facility to fund its operations. The change in price per share for Amazon is likely to be offset by the planned increase in iRobot's net debt under the new financing facility.

Portfolio Pulse from Anusuya Lahiri

July 25, 2023 | 2:44 pm

INPX

Inpixon has agreed to merge with XTI Aircraft Company, leading to a rise in Inpixon's share prices.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 2:25 pm

CHEK

Symetryx Corp has increased its non-binding offer to acquire Check-Cap to $4.60 per share, according to Reuters.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 2:24 pm

AMZN

IRBT

Amazon has reduced the takeover price for iRobot Corp by 15% due to debt adjustments, leading to a decrease in iRobot's share price.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 1:35 pm