Streetbeat News

Acquisitions Mergers

BREZ

Texas-based ammunition manufacturer True Velocity has acquired advanced suppressor technology company Delta P Design. The acquisition, approved by the True Velocity Board of Directors, strengthens the company's portfolio of American-made advanced, lightweight ammunition technology and next-generation weapon systems. This follows True Velocity's previous acquisition of Lone Star Future Weapons in November 2021, demonstrating the company's accelerated expansion into the global market for advanced weapon system technology.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 12:26 pm

MNTN

Everest Consolidator Acquisition Corporation (NYSE:MNTN) has announced a business combination with Unifund, a consumer debt service company focused on data science and analytics. The combined company will be named Unifund Financial Technologies, Inc. and is expected to be listed on Nasdaq under the ticker symbol 'UFND'. The transaction is expected to close as early as Q3 2023. Unifund generated $52.2 million in revenue and $14.8 million in operating income in fiscal year 2022, and expects to generate approximately $58.5 million in revenue and approximately $19.4 million in operating income in fiscal year 2023.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 12:20 pm

COOP

HMPT

Mr. Cooper Group Inc. (NASDAQ:COOP) has extended the expiration date of its offer to acquire all of the outstanding shares of Home Point Capital Inc. (NASDAQ:HMPT) to July 31, 2023. The offer was previously set to expire on July 21, 2023. As of July 21, approximately 98.3% of the outstanding shares had been tendered into the offer.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 12:20 pm

QLGN

Qualigen Therapeutics, Inc. (NASDAQ:QLGN) has sold its FastPack diagnostics business to Chembio Diagnostics, a subsidiary of French diagnostics provider BIOSYNEX Group. The all-cash deal will allow Qualigen to focus more on its therapeutics pipeline, particularly its small molecule G-Quadruplex (G4) selective transcription inhibitor, QN-302, and its pre-clinical pan-RAS inhibitor platform.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 12:17 pm

JGGC

GLAAM Co., Ltd., a designer and developer of architectural display glass, has approved a business combination with Jaguar Global Growth I (JGGC). The merger aims to target the North American super large architectural media market. GLAAM is expected to become a US publicly traded company in Q3 2023, making it one of the first Korean-based media display companies listed on Nasdaq. Post-merger, the new company is expected to be renamed 'Captivision Inc.' and listed on Nasdaq under the ticker symbols 'CAPT' and 'CAPTW'.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 12:12 pm

BAER

Bridger Aerospace has entered into a definitive purchase agreement with Bighorn Airways for $39 million.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 12:10 pm

RITM

SCU

Rithm Capital Corp (RITM) has agreed to acquire Sculptor Capital Management Inc (SCU) for approximately $639 million. The deal, expected to close in Q4 2023, will see SCU shareholders receive $11.15 per share, a premium of 18% over the closing price on July 21, 2023. RITM expects the acquisition to be neutral on its 2024 earnings and accretive in 2025. Post-acquisition, SCU will operate as a subsidiary of RITM.

Portfolio Pulse from Lekha Gupta

July 24, 2023 | 11:56 am

ACB

Aurora Cannabis Inc. has sold its Aurora Sun facility to Bevo Farms Ltd., a subsidiary of Bevo Agtech Inc. The sale could result in up to $15 million payable over time by Bevo Farms to Aurora, based on certain financial milestones. The transaction is expected to improve Aurora's cash flow and reduce its annual carrying costs by approximately $2 million.

Portfolio Pulse from Vuk Zdinjak

July 24, 2023 | 11:47 am

TRP

TC Energy Corporation has announced a deal to sell a 40% interest in its Columbia Gas Transmission and Columbia Gulf Transmission systems to Global Infrastructure Partners for $5.2 billion. The deal implies an enterprise value to a comparable EBITDA multiple of approximately 10.5 times TC Energy's base 2023 outlook.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 11:42 am

CWH

Camping World Holdings, Inc. (NYSE:CWH) has announced plans to acquire Mount Comfort RV in Greenfield, Indiana. The transaction, which is expected to close in Q4 2023, will increase Camping World's location count in Indiana to three. Mount Comfort RV predominantly sells Forest River, Coachmen, Tiffin, Newmar, and Winnebago products.

Portfolio Pulse from Charles Gross

July 24, 2023 | 11:41 am