Streetbeat News

Acquisitions Mergers

INGN

Inogen, a US-based medical technology company, has agreed to acquire Physio-assist, a privately-held company based in France, for $32M. The total consideration, if all milestones are achieved, will not exceed $45M.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 12:33 pm

AYRWF

AYR Wellness Inc. has entered an option agreement to acquire 100% of the equity interests of Twice the Wellness, a licensed medical marijuana dispensary in Ohio. This is part of AYR's strategy to build a vertical presence in Ohio. The company has also entered into agreements to acquire two other dispensaries, Daily Releaf and Heaven Wellness, with plans to open all three by year end.

Portfolio Pulse from Vuk Zdinjak

July 13, 2023 | 12:28 pm

QNCX

Echo Lake Capital has issued a revised proposal to acquire Quince Therapeutics, Inc. (NASDAQ:QNCX) for $1.80 per share in cash plus a CVR to receive 85% of the future net proceeds from the Lighthouse Pharmaceutical transaction.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 12:06 pm

DEN

XOM

ExxonMobil has entered a definitive agreement to acquire Denbury in an all-stock transaction valued at $4.9 billion, or $89.45 per share. Denbury shareholders will receive 0.84 shares of ExxonMobil for each Denbury share.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 12:04 pm

FACT

The Boards of Directors of Complete Solaria, Inc. and Freedom Acquisition I Corp. (NYSE:FACT) have approved a proposed business combination. Additionally, a $10 million commitment has been made by T.J. Rodgers in connection with the proposed business combination. This transaction will help Complete Solaria to scale to meet demand and support the acceleration of the global energy transition.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 12:04 pm

MITT

WMC

AG Mortgage Investment Trust (MITT) has submitted an offer to acquire Western Asset Mortgage Capital Corporation (WMC) for an implied price of $9.88 per share.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 11:46 am

NEXT

TTE

NextDecade Corp (NEXT) has announced the final investment decision for Phase 1 construction at its Rio Grande LNG export facility in Texas. The project has secured $18.4 billion in financing, the largest greenfield energy project financing in U.S. history. The financing includes a joint venture deal with commitments from TotalEnergies SE (TTE), GIC, Global Infrastructure Partners, and Mubadala Investment Company. NEXT shares are trading higher by 1.30% premarket.

Portfolio Pulse from Lekha Gupta

July 13, 2023 | 11:40 am

APDN

Applied DNA Sciences, Inc. (NASDAQ:APDN) has acquired Spindle Biotech Inc., a private biotech company developing next-generation RNA manufacturing technologies. The acquisition cost was $625,000 cash, 750,000 restricted shares of APDN common stock, and up to 1.0 million shares of APDN common stock upon the satisfaction of certain commercialization and revenue milestones. The deal also includes a 10-year revenue share based on the net sales generated by the LineaIVT platform.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 11:21 am

LCID

RIVN

TSLA

Gary Black, Managing Director of Future Fund, has suggested that electric vehicle startup Rivian Automotive (NASDAQ:RIVN) could be an attractive acquisition target for an established automaker. Black believes Rivian is undervalued compared to competitors like Lucid Group (NASDAQ:LCID) and Tesla (NASDAQ:TSLA). He suggests adjusting Rivian's enterprise value by deducting its $11 billion net cash from the market cap, resulting in an enterprise value of $15 billion.

Portfolio Pulse from Shanthi Rexaline

July 13, 2023 | 10:10 am

CD

Chindata has received a non-binding 'take private' proposal from CMC at $9.2 per ADS. The company's directors have not yet made any decisions regarding the proposal.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 10:02 am