Streetbeat News

Acquisitions Mergers

JBLU

SAVE

JetBlue Airways Corporation (JBLU) has set July 25, 2023, as the record date for the July 2023 prepayment to Spirit Airlines, Inc. (SAVE) stockholders of $0.10 per Spirit share. The payment is set to occur on July 31, 2023, as part of the Merger Agreement between the two companies.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 1:01 pm

BZAMF

BZAM Ltd. (OTCQX:BZAMF) (CSE:BZAM) plans to purchase 630,000 class A shares of BZAM Cannabis Corp. from minority shareholders. The company will issue 255,000 common shares at an average price of $0.225 per share as consideration. The transaction, subject to regulatory approvals, will increase BZAM's stake in BCC from 57.6% to 71.2%.

Portfolio Pulse from Vuk Zdinjak

July 14, 2023 | 1:00 pm

KRTX

Karuna Therapeutics' stock has seen a 13% pullback from June 2023 highs and 25% from 52-week highs, which William Blair sees as a buying opportunity. The company is expected to file an NDA for its antipsychotic drug, KarXT, in Q3 2023. Karuna has $1.5 billion in cash to fund operations through 2026 and is considered a potential acquisition target. The company's drug belongs to a Medicare Part D protected class, ensuring automatic coverage upon approval.

Portfolio Pulse from Vandana Singh

July 14, 2023 | 12:59 pm

PFE

RHHBY

ROIV

Roivant Sciences Ltd (ROIV), founded by Republican presidential candidate Vivek Ramaswamy, is in talks with Roche Holdings AG (RHHBY) for the potential sale of an experimental drug for stomach diseases. The deal could exceed $7 billion. The drug, RVT-3101, is currently in the final Phase 3 testing stage. Roivant obtained the drug through a deal with Pfizer Inc (PFE), which retains a 25% stake in the subsidiary and holds commercial rights outside the U.S. and Japan.

Portfolio Pulse from Vandana Singh

July 14, 2023 | 12:55 pm

DAL

EADSY

Delta Air Lines has ordered 12 additional A220-300 aircraft from Airbus, bringing its total firm order to 131 A220s. Delta is currently the world's largest A220 customer and operator. The airline also raised its FY23 outlook in its recent Q2 results, with an EPS of $6 - $7, revenue growth of +17%-20%, an operating margin greater than 12%, and free cash flow of more than $3 billion.

Portfolio Pulse from Nabaparna Bhattacharya

July 14, 2023 | 12:48 pm

ACAD

JPM

ROIV

Roivant Sciences is in talks with Roche for a $7 billion stomach disease drug deal. JPMorgan's Q2 investment banking revenue is up 11% to $1.5B, but total markets revenue is down 10% to $7B. Acadia Pharmaceuticals acquires ex-North American rights to Trofinetide and global rights to Neuren's NNZ-2591 in Rett Syndrome and Fragile X Syndrome for an upfront payment of $100M.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:35 pm

METX

Meten Holding Group Ltd. (NASDAQ:METX) has announced the purchase of 200 units of Antminer S19j Pro Bitcoin mining machines from two unaffiliated third parties. The company will issue ordinary shares valued at $880,000 to the sellers. The machines are expected to be operational by July 31, 2023. This purchase will increase the company's total number of mining machines to 1,954 units with a computing power of more than 208PH/s. The company plans to continue expanding its cryptocurrency business by purchasing more mining machines.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:34 pm

AGRI

AgriFORCE has provided an update on its acquisition of Berry People, extending the closing date until the end of August to allow both parties more time to complete certain closing conditions.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:32 pm

BNIX

Bannix Acquisition has announced a monthly extension to complete its initial business combination. The deadline has been extended from July 14 to August 14.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:10 pm

ACAD

ACADIA Pharmaceuticals has acquired ex-North American rights to trofinetide and global rights to Neuren's NNZ-2591 in Rett Syndrome and Fragile X syndrome. The company also announced guidance.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:10 pm