Streetbeat News

Acquisitions Mergers

ATVI

MSFT

The Ninth Circuit U.S. Court of Appeal has denied the Federal Trade Commission's appeal to block the acquisition of Activision Blizzard, Inc. (NASDAQ:ATVI) by Microsoft Corp. (NASDAQ:MSFT). The deal is now almost certain to go through, with a hearing scheduled for July 17 by the U.K. Competitions and Markets Authority. Following the court's decision, Activision shares traded 3.36% higher, while Microsoft gained 0.51%.

Portfolio Pulse from Shanthi Rexaline

July 15, 2023 | 2:21 pm

PNAC

Prime Number Acquisition I Corp. (PNAC) has announced an extension of the deadline for its initial business combination from July 17, 2023, to August 17, 2023. The extension was facilitated by a $125,000 deposit into its trust account by noco-noco Inc., the sponsor of the company. This is the third of six monthly extensions of the company.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 8:32 pm

MEDS

TRxADE HEALTH, Inc. (NASDAQ:MEDS) has amended its merger agreement with Superlatus, Inc. The new terms state that Superlatus shareholders will receive an aggregate of 30,821,941 shares of MEDS stock at $7.30 per share. This includes 136,441 shares of MEDS common stock and 306,855 shares of a new class of MEDS non-voting convertible preferred stock. Additionally, TRxADE will issue MEDS Rights to its shareholders, including independent directors, entitling them to one share of MEDS common stock at no cost.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 8:32 pm

SIEB

Siebert Financial Corp has entered into a share redemption agreement with Cynthia Dibartolo and Tigress Holdings. The agreement involves Siebert repurchasing 1 million of its shares held by Dibartolo in exchange for conveying to Dibartolo the company's 17% interest in Tigress.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 8:27 pm

SSYS

The Donerail Group, a large shareholder of Stratasys Ltd. (SSYS), has released an open letter to Stratasys' Board of Directors, urging them to consider alternatives to the Desktop Metal transaction. Donerail highlighted the improved offer from 3D Systems Corporation and the interest from Nano Dimension Ltd., both of which value SSYS stock at nearly a 70% premium to the Stratasys share price following the Desktop Metal news.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 8:22 pm

AMGN

DIS

LSDI

Richard Nanula, former CFO of The Walt Disney Corporation and Amgen Inc., has taken over as CEO of Lucy Scientific Discovery. He succeeds Chris McElvany, who will remain involved with the company as a consultant. Lucy Scientific Discovery is involved in the development, sale, delivery, and manufacture of pharmaceutical-grade Active Pharmaceutical Ingredients used in controlled substances and their raw material precursors.

Portfolio Pulse from Lara Goldstein

July 14, 2023 | 8:17 pm

FCPT

Four Corners Property Trust (FCPT) has announced the acquisition of four newly built properties for $17.9 million. The portfolio includes eight brands and nine leases: Starbucks, Aspen Dental, Bronson Health, Great Clips, Mattress Firm, Oak Street Health, Taco Bell, and WellNow Urgent Care. The properties are located in MI and IN and are occupied under long-term net leases.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 8:16 pm

MLTX

MoonLake Immunotherapeutics is reportedly exploring a sale, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 7:40 pm

MLTX

MoonLake Immunotherapeutics is reportedly exploring a sale, according to sources cited by Reuters. The company's stock symbol is MLTX.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 7:39 pm

ACAD

Acadia Pharmaceuticals has expanded its licensing agreement for trofinetide with Neuren Pharmaceuticals, acquiring ex-North American rights to the drug. The company expects Q2 sales of $21-$23 million for Daybue and $140-$144 million for Nuplazid. JMP Securities and HC Wainwright have increased their price targets for Acadia, while Needham maintains a Hold rating. The successful launch of Daybue and the acquisition of global rights to trofinetide are seen as strategic moves.

Portfolio Pulse from Vandana Singh

July 14, 2023 | 6:47 pm