Streetbeat News

Acquisitions Mergers

FLHLF

JAQC

Filament Health (OTCQB:FLHLF) has entered into a definitive agreement with Jupiter Acquisition Corp. (NASDAQ:JAQC) for a $210M SPAC deal. The new business combination ascribes Filament $176 million in pre-money equity and will give holders of outstanding shares $0.85 per share of the new company. The deal is expected to close in Q4 2023. Filament's lead drug candidate PEX010 is currently undergoing 15 clinical trials for the potential treatment of various disorders.

Portfolio Pulse from Lara Goldstein

July 19, 2023 | 9:41 pm

ODD

AI-driven beauty and wellness company, Oddity Tech (NASDAQ:ODD), made a successful debut on the public market, with its shares soaring 40% above the IPO price. The company reached a market valuation of $2.8 billion. Oddity, known for its Il Makiage and Spoiled Child brands, raised approximately $424 million with the sale of 12.1 million shares. The company plans to invest over $100 million to acquire biotech startup Revela and open a U.S.-based lab, and will use the proceeds from its offering to invest more in its data and technology.

Portfolio Pulse from Piero Cingari

July 19, 2023 | 8:57 pm

HCCI

Heritage-Crystal Clean (HCCI) is set to be acquired by J.F. Lehman & Company for $1.2 billion. Shareholders will receive $45.50 per share as part of the deal.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 8:33 pm

LBTYA

Liberty Global plc (NASDAQ:LBTYA, LBTYB and LBTYK) has announced the acquisition of 93.23% of Telenet Group Holding NV through its subsidiary, Liberty Global Belgium Holding B.V. The initial acceptance period of the voluntary and conditional public takeover bid ended on 12 July 2023, with 34,676,001 shares of Telenet tendered. The offer will be reopened on 24 August 2023 for shareholders who have not yet accepted the offer.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 8:31 pm

ATVI

MSFT

Microsoft and Activision have filed a motion to the U.S. Federal Trade Commission asking for the case against Activision's acquisition to be withdrawn, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 8:30 pm

SRT

StarTek's shares are trading higher following a proposal by CSP EAF to acquire all of StarTek's common stock at $3.80 per share in cash, as revealed in a 13D filing.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 7:56 pm

CLBR

Colombier Acquisition has announced that its stockholders have approved the proposed business combination with Patriotic Marketplace PublicSq. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2023 | 5:48 pm

GLBE

SHOP

Morgan Stanley analyst James Faucette has downgraded Global-E Online Ltd (NASDAQ:GLBE) from Overweight to Equal-Weight and raised the price target from $38 to $45. The analyst believes that the market has adequately anticipated the likely growth rates for '23 and '24, and built those expectations into valuation. The analyst also noted a reduction in bear concerns around GLBE, particularly since GLBE has acquired competitors and its relationship with Shopify Inc. (NYSE:SHOP) has become more durable.

Portfolio Pulse from Shivani Kumaresan

July 19, 2023 | 5:38 pm

FTTUSD

Constance Wang, former associate of the bankrupt FTX (CRYPTO: FTT), is set to lead gaming at Sino Global Capital. Wang previously held positions at FTX and its Bahamas affiliate FTX Digital Markets. Sino Global Capital, which had previously invested in FTX, is a crypto venture capital firm established in 2015. The news highlights the ability of former FTX employees to move on from the legal drama surrounding FTX's bankruptcy.

Portfolio Pulse from Murtuza Merchant

July 19, 2023 | 5:10 pm

AMZN

META

NVDA

QCOM

Nvidia Corp is in talks to take an equity stake in Lambda Labs, a startup that competes with Amazon Web Services and other cloud providers in renting servers with Nvidia chips. The deal could total $300 million in new capital and might value Lambda Labs at over $1 billion. BofA Global Research analyst Vivek Arya reiterated his Buy rating for Nvidia stock and raised his price target to $550 from $500. Qualcomm Inc tapped Meta Platforms Inc to optimize the execution of Meta's Llama 2 large language models on devices, which have primarily run on Nvidia graphics processors.

Portfolio Pulse from Anusuya Lahiri

July 19, 2023 | 4:23 pm