Streetbeat News

Acquisitions Mergers

BCAB

CNTX

Context Therapeutics has secured global rights to develop and commercialize BioAtla's cancer therapy BA3362, a Nectin-4 x CD3 TCE. This agreement allows Context to advance its pipeline of TCE assets, while BioAtla focuses on its lead clinical CAB programs. BioAtla will receive up to $133.5 million in payments.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 11:34 am

INTC

PLTR

QQQ

SPY

U.S. index futures are slightly up as traders anticipate key catalysts, including Intel's potential investment and Micron's earnings. Intel rose 3% on investment news, while Palantir fell 1.6% due to negative analyst action. The S&P 500 is nearing an all-time high, with positive sentiment from a September rally.

Portfolio Pulse from Shanthi Rexaline

September 23, 2024 | 11:03 am

BITF

RIOT

Bitfarms and Riot Platforms have reached a settlement agreement ahead of a special meeting. Riot will withdraw its requisition and accept standstill provisions until Bitfarms' 2026 Annual Meeting. Riot also gains rights to purchase shares if it holds 15% or more of Bitfarms' common shares.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 11:02 am

TPX

Tempur Sealy International is progressing with its acquisition of Mattress Firm, despite FTC challenges. Court hearings are set for November 2024. Tempur Sealy plans to divest 73 Mattress Firm locations and its Sleep Outfitters subsidiary to Mattress Warehouse, contingent on the acquisition's completion.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 10:58 am

TPX

Tempur Sealy has announced a proposed Senior Secured Term Loan B Facility of up to $1.6 billion to fund its acquisition of Mattress Firm Group Inc. The loan will be drawn upon the closing of the acquisition.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 10:57 am

ABAT

American Battery Technology Company (NASDAQ:ABAT) has secured a $150 million grant from the U.S. Department of Energy to construct a second lithium-ion battery recycling facility. This facility will process 100,000 tonnes of battery materials annually and is part of ABTC's strategy to expand its domestic battery recycling operations. The project involves multiple partners and aims to create significant job opportunities while supporting sustainable initiatives.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 10:47 am

SGN

Signing Day Sports plans to acquire Swifty Global, expecting strategic and financial synergies to drive growth and efficiency. The acquisition aims to reduce costs, enhance SaaS revenue, expand market exposure, and improve user engagement.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 10:35 am

FTS

Fortis Inc. (NYSE:FTS) is increasing its stake in Caribbean Utilities Company, Ltd. (TSX:CUP) through a $51M standby commitment for a rights offering. This move could boost Fortis' ownership in CUC to 62% if no other subscribers participate. The capital raised will fund CUC's energy projects and system upgrades.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 10:07 am

RIO

UEC

Uranium Energy Corp (UEC) has entered into an agreement to acquire Rio Tinto's Wyoming assets for $175 million. The assets include the Sweetwater Plant and uranium mining projects with 175 million pounds of resources. The transaction is expected to close in Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 10:03 am

APO

INTC

QCOM

Intel's stock rose 2.38% in pre-market trading following reports of potential investments from Apollo Global Management and Qualcomm. Apollo is considering a $5 billion equity-like investment, while Qualcomm has shown takeover interest. Intel's shares have dropped nearly 60% this year.

Portfolio Pulse from Pooja Rajkumari

September 23, 2024 | 9:20 am