Streetbeat News

Acquisitions Mergers

FLYX

flyExclusive has announced a $25 million preferred equity investment through a securities purchase agreement with EnTrust Global and EG Sponsor LLC. The investment involves the purchase of 25,510 shares of Series B Convertible Preferred Stock at $1,000 per share.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 9:24 pm

FRZA

VEEE

Twin Vee PowerCats Co. and Forza X1, Inc. have announced an all-stock merger agreement. Each holder of Forza common stock will receive 0.61166627 shares of Twin Vee common stock for each Forza share. The transaction is expected to close by the end of 2024.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 8:27 pm

CNM

Core & Main has entered into a definitive agreement to acquire substantially all assets of GroGreen Solutions Georgia, LLC, a provider of erosion control products with four locations in the southeastern United States. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 8:20 pm

RXO

RXO has announced purchase agreements with MFN Partners and certain accounts managed by Orbis Investments for a $550 million private financing.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 8:18 pm

ACCD

Accolade shares are trading higher following a report suggesting the company is exploring a sale.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 7:42 pm

ACCD

Accolade shares surged as traders speculated that the company is exploring a sale.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 7:36 pm

GNLN

RILY

RVNC

SBUX

STIM

TRNR

U.S. stocks traded mixed with the S&P 500 edging higher. Starbucks shares gained 2% due to activist investor interest. Greenlane Holdings surged 218% on a new distribution deal, while Revance Therapeutics rose 86% after a merger agreement. B. Riley Financial and Neuronetics saw significant declines following poor financial results.

Portfolio Pulse from Avi Kapoor

August 12, 2024 | 6:33 pm

MSFT

Krafton has acquired Tango Gameworks and the Hi-Fi Rush IP from Xbox, ensuring the continued development of the game studio. This acquisition comes after Microsoft's decision to close several Bethesda studios, including Tango Gameworks. Krafton plans to collaborate with Xbox and ZeniMax to ensure a smooth transition and maintain continuity at Tango Gameworks.

Portfolio Pulse from Franca Quarneti

August 12, 2024 | 5:48 pm

SOUN

SoundHound AI, Inc. (NASDAQ:SOUN) shares are trading higher after the company announced the acquisition of Amelia and reported strong second-quarter earnings. The company beat analyst expectations and raised its full-year and 2025 revenue guidance. Analysts are bullish on the stock, with an average 1-year price target of $7.25, representing a 40.64% upside.

Portfolio Pulse from Erica Kollmann

August 12, 2024 | 5:36 pm

AMD

Advanced Micro Devices (AMD) shares are slightly up on Monday following the announcement of its $665 million acquisition of Silo AI, Europe's largest private AI lab. The acquisition aims to enhance AMD's AI capabilities and customer solutions. Despite the positive news, AMD's stock is trading below its 50-day moving average.

Portfolio Pulse from Dylan Berman

August 12, 2024 | 4:58 pm