Streetbeat News

Acquisitions Mergers

VNOM

Viper Energy has priced an upsized public offering of 10 million Class A common shares at $42.50 each, expecting net proceeds of approximately $413.7 million. The funds will be used to partially finance the acquisition of subsidiaries from Tumbleweed Royalty IV, LLC. The offering is set to close on September 13, 2024.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 7:43 am

BHE

Benchmark Electronics has opened its fourth facility in Penang, enhancing its semiconductor and aerospace services. This expansion allows for greater vertical integration and adds critical capacity and capabilities to its operations.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 7:21 am

NNAG

99 Acquisition Group, Inc. (NASDAQ:NNAG) will dissolve and liquidate, redeeming public shares at $10.55 each, due to the inability to complete a business combination with Nava Health MD, Inc.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 7:03 am

GME

Jim Cramer criticizes GameStop's business model, likening it to an overvalued SPAC. Despite a 31% sales decline, GameStop turned a profit from interest on its cash reserves. Analysts suggest closing physical stores and operating as a bank. GameStop's stock fell 11.98% after missing revenue estimates.

Portfolio Pulse from Benzinga Neuro

September 12, 2024 | 6:49 am

NPSCY

X

The Biden administration is attempting to block a $14.1 billion acquisition of U.S. Steel by Nippon Steel, citing national security concerns. The Committee on Foreign Investment has delayed its recommendation, and the deal faces mixed views from stakeholders. U.S. Steel's stock has seen a recent surge despite being down for the year.

Portfolio Pulse from Kaustubh Bagalkote

September 12, 2024 | 4:16 am

COIN

PLTR

Cathie Wood's Ark Invest made significant trades, buying $8.4M worth of Coinbase shares and selling $6.4M worth of Palantir shares. The Coinbase purchase follows a partial legal victory, while the Palantir sale comes despite its S&P 500 inclusion.

Portfolio Pulse from Benzinga Neuro

September 12, 2024 | 3:42 am

AAPL

MSFT

NVDA

OpenAI is reportedly in talks to raise $6.5 billion in equity financing, potentially increasing its valuation to $150 billion. Thrive Capital is expected to lead the round, with potential investments from Microsoft, Apple, and Nvidia. Microsoft has already invested $13 billion in OpenAI, facing EU antitrust scrutiny. OpenAI is also negotiating a $5 billion credit line to support computing power and operational expenses.

Portfolio Pulse from Ananya Gairola

September 12, 2024 | 3:33 am

VNOM

Viper Energy is launching a public offering of 8.50 million shares of its Class A common stock, with an option for underwriters to purchase an additional 1.275 million shares. The proceeds will help fund a pending acquisition of subsidiaries from Tumbleweed Royalty IV, LLC.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2024 | 8:39 pm

BTCT

BTC Digital has entered into an equity transfer agreement with four other equity holders of a joint venture. This move could impact the company's financial structure and future operations.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2024 | 8:26 pm

EZPW

EZCORP is set to acquire 53 pawn stores from Presta Dinero, although the financial terms of the deal have not been disclosed. This acquisition could potentially expand EZCORP's market presence and operational scale.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2024 | 8:12 pm