Streetbeat News

Acquisitions Mergers

USEA

United Maritime Corporation (NASDAQ:USEA) has announced the sale of its remaining LR2 tanker vessel, the M/T Epanastasea, for $37.5 million, and the acquisition of a Panamax dry bulk vessel for $17.8 million. The profit from the sale is expected to be approximately $14.2 million, with a return on equity of about 400%. The net cash surplus from the sale and acquisition is expected to be approximately $18 million.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 1:06 pm

IMNM

Immunome and Morphimmune have announced a definitive merger agreement, with a simultaneous private placement investment of $125M to develop targeted cancer therapies. The merged company will operate as Immunome and is expected to submit three investigational new drug applications within 18 months of closing. Clay B. Siegall, current Morphimmune President & CEO and former co-founder & CEO of Seagen, Inc., will serve as Chairman and CEO of the combined company.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 1:03 pm

OSTK

Overstock has completed its acquisition of certain intellectual property assets of the Bed Bath & Beyond brand, leading to a rise in Overstock's share prices.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 12:55 pm

LLY

SGTX

Eli Lilly has agreed to acquire Sigilon Therapeutics for $14.92 per share in cash. This has led to a surge in Sigilon's share price.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 12:22 pm

MRAI

Marpai, Inc. (NASDAQ:MRAI) has confirmed its Q2 2023 revenue guidance of $9.5M-$9.8M. The company also expects an improvement in Q2's EBITDA and net income compared to Q1 2023. This comes after the acquisition of Maestro Health and ongoing integration efforts. Despite flat revenues, cost-cutting efforts are showing results, as evidenced by the expected improvement in EBITDA.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 12:20 pm

MCOM

micromobility.com Inc. (NASDAQ:MCOM) has announced a strategic realignment of its business, discontinuing its media business to focus on its core mobility sector. The company will terminate its streaming contracts, including for the 3rd season 2023-2024 of League Serie B, which is expected to save over EUR 14 million. The savings will be redirected towards strategic initiatives such as mergers and acquisitions.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 12:13 pm

LGST

Tevogen Bio Inc. is set to become publicly listed on the NYSE through a business combination with Semper Paratus Acquisition Corporation. The transaction is expected to provide Tevogen Bio with access to capital markets and accelerate the development of its product, TVGN 489, a COVID-19 therapeutic solution. The combined company will be named Tevogen Bio Holdings Inc. and is expected to be listed on the NYSE under the ticker symbol 'TVGN'. The pro forma equity value of the combined company is expected to be approximately $1.2 billion, with the merger expected to be completed in Q4 2023.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 12:09 pm

NAVB

PRPH

Navidea Biopharmaceuticals has rejected an offer from ProPhase Labs to acquire certain assets of Navidea.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 12:04 pm

ADUS

Addus HomeCare Corporation is set to acquire Tennessee Quality Care operations. The terms of the deal have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 12:02 pm

MQBKY

Macquarie Group (OTC:MQBKY) has agreed to sell Ceres Terminals Holdings LLC to Carrix, a marine terminal operator. The deal was conducted by Macquarie Infrastructure Partners III, a fund managed by Macquarie Group. The deal value could exceed $900 million. Ceres Terminals Jacksonville and the Intermodal Container Transfer Facility in Jacksonville are not included in the transaction. MQBKY shares closed lower by 1.31% at $115.70 on Wednesday.

Portfolio Pulse from Nabaparna Bhattacharya

June 29, 2023 | 11:53 am