Streetbeat News

Acquisitions Mergers

CEI

VKIN

Camber Energy, Inc. (NYSE:CEI) and Viking Energy Group, Inc. (OTCQB:VKIN) have announced that their shareholders have approved the merger between the two companies. The merger is expected to be completed on or about August 1, 2023, subject to the satisfaction of required closing conditions. Post-merger, Camber will acquire full legal and accounting control of Viking, allowing it to report underlying subsidiary revenues at the Camber level and benefit directly from Viking's business activities.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 12:33 pm

DWAC

FRTX

RDHL

Digital World (DWAC) has reached a settlement with the SEC, which will allow for a review of its Form S-4 Registration Statement. Fresh Tracks (FRTX) has announced an $8.25 million buyout of its right to receive future Sofpironium Bromide payments from Botanix. RedHill (RDHL) has announced additional U.S. government funding for Opaganib Nuclear Countermeasure Development.

Portfolio Pulse from ryanfaloona@benzinga.com

July 21, 2023 | 12:31 pm

AVTX

Avalo Therapeutics has entered a non-binding Letter of Intent (LOI) for the potential sale of AVTX-801, AVTX-802, and AVTX-803. According to the LOI, the company would sell the 800 series for an upfront payment of $150,000.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 12:30 pm

FRTX

Fresh Tracks (FRTX) shares are trading higher following the announcement of an $8.25 million buyout of its right to receive future sofpironium bromide payments from Botanix.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 12:21 pm

GS

RITM

Rithm Capital Corp. (NYSE:RITM) has purchased $1.4 billion of prime unsecured consumer loans from Goldman Sachs Group, Inc. (NYSE:GS). This is part of Goldman Sachs' plan to exit the lending business, having recently sold $1 billion of Marcus loans to Varde Partners. RITM shares are trading higher by 1.01% in the premarket session.

Portfolio Pulse from Nabaparna Bhattacharya

July 21, 2023 | 12:17 pm

UAL

United Airlines is expanding its electric battery portfolio with an investment in Electric Power Systems (EPS). The technology from EPS could be used in United's future decarbonizing investments. United is considering the use of EPS modules in its current ground operations and is also considering an all-electric flight academy in the future.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 12:04 pm

FRTX

Fresh Tracks Therapeutics has amended its asset purchase agreement with Botanix Pharmaceuticals. The amendment allows Fresh Tracks to sell its rights to future event-based milestones and earnout payments on net sales of Sofpironium Bromide to a Botanix subsidiary for $8.25M.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 12:04 pm

RTX

SAFRY

French aerospace company Safran (OTC:SAFRY) is set to acquire an aerospace business from RTX Corp (NYSE:RTX) for $1.8 billion. The business, part of Collins Aerospace, provides actuation and flight control systems. The deal is expected to boost Safran's control in critical flight control and actuation functions, and have an accretive impact on earnings per share from year one. The deal is expected to close in H2 2024.

Portfolio Pulse from Shivani Kumaresan

July 21, 2023 | 11:42 am

CCF

KKR

Chase Corp has signed a definitive agreement to be acquired by KKR for $1.3 billion. KKR will acquire all outstanding shares of Chase common stock for $127.50 per share in cash, implying a valuation of approximately 13 times trailing-twelve-months EBITDA.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 10:47 am

AN

GM

JNJ

TSM

Investor sentiment declines as Nasdaq falls 2%. Cathie Wood's Ark Invest reduces GM stake and buys more Taiwan Semiconductor shares. UK Finance Ministry disagrees with calls to regulate crypto as gambling. CoinDesk is on the verge of a $125M acquisition. Microsoft-Activision deal may be heading towards settlement talks. AutoNation expected to report lower Q2 earnings. Starbucks partners with K-Pop stars BLACKPINK for potential sales boost. J&J investors will soon be able to exchange shares for Kenvue stocks.

Portfolio Pulse from Akanksha Bakshi

July 21, 2023 | 10:24 am