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Acquisitions Mergers

ACRHF

Cannabis firm Botanica has raised $9 million in Series B funding from institutional cannabis investors including KEY Investment Partners and GreenAxs Capital. The funding will support Botanica's expansion plans and growing market share for its edible brands, Mr. Moxey's and Journeyman. The company also plans to increase market share for Mr. Moxey's and introduce Journeyman Lemonade to new markets, including Illinois, Colorado, and Oregon, in 2023. Botanica's partnership with multi-state operator Acreage Holdings Inc. (OTCQX:ACRHF) would further support its expansion plans.

Portfolio Pulse from Joana Scopel

July 13, 2023 | 10:36 pm

RHHBY

Roivant Sciences is reportedly in discussions to sell its stomach drug to Roche in a deal that could be valued at over $7 billion, according to the Wall Street Journal.

Portfolio Pulse from Charles Gross

July 13, 2023 | 9:53 pm

MITT

WMC

Terra Property Trust (TPT) has reaffirmed its commitment to its previously announced combination with Western Asset Mortgage Capital (WMC). This comes after AG Mortgage Investment Trust (MITT) submitted an unsolicited non-binding proposal to acquire WMC.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 9:32 pm

JAMF

Jamf, a software company, has acquired UK-based managed services provider dataJAR. The terms of the deal were not disclosed. dataJAR, founded in 2013, manages over 120,000 Apple devices for more than 300 customers. Its proprietary software streamlines workflows for partners managing technology and services for multiple organizations.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 9:21 pm

CMC

Commercial Metals Company (NYSE:CMC) has announced the acquisition of EDSCO Fasteners LLC, a leading provider of anchoring solutions for the electrical transmission market. EDSCO's products are used to secure high voltage electrical transmission poles to concrete foundations. The acquisition is expected to advance CMC's position in construction reinforcement and extend its capabilities to new applications.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 8:15 pm

OLP

One Liberty Properties, Inc. (NYSE:OLP) has acquired a 177,040 square foot industrial distribution center in a suburb of Columbia, South Carolina for $13.4 million. The price includes the assumption of $4.3 million of mortgage debt. The property is leased to two tenants, providing an aggregate annual base rent of approximately $784,000, increasing approximately 3% annually. The company believes this acquisition will contribute to future cash flow growth.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 8:14 pm

TESS

TESSCO Technologies Incorporated (NASDAQ:TESS) has received approval from its stockholders to merge with entities affiliated with Lee Equity Partners LLC and Twin Point Capital LLC, which also own Alliance Corporation and GetWireless, LLC. The merger is expected to close on July 17, 2023, after which TESSCO will become wholly owned by the entities, its common stock will cease trading on Nasdaq, and all outstanding shares will be converted into the right to receive the merger consideration of $9.00 per share.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 8:09 pm

ACAD

Acadia Pharmaceuticals has acquired the ex-North American rights to Trofinetide and global rights to Neuren's NNZ-2591 in Rett Syndrome and Fragile X Syndrome. The deal involves an upfront payment of $100M and additional milestones to Neuren.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 8:08 pm

SGE

Strong Studios has acquired the global worldwide distribution rights for its original series 'Safehaven'.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 8:06 pm

SEIC

SEI Investments (Europe) Limited (SIEL), a subsidiary of SEI (NASDAQ:SEIC), has announced plans to acquire XPS Pensions (Nexus) Limited, the principal employer and scheme funder of the National Pensions Trust (NPT), from XPS Pensions Group PLC. The deal, worth up to £42.5 million, is part of SEI's strategy to accelerate growth and enhance its market presence in the UK's defined contribution market. The acquisition is expected to close by the end of the year, subject to regulatory approval.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 8:05 pm