Streetbeat News

Acquisitions Mergers

XTIA

XTI Aerospace has signed a capital distribution agreement for a proposed investment of up to $55 million, valuing the company at $275 million. This investment is expected to significantly accelerate the development of the TriFan 600, a revolutionary long-range civilian fixed-wing VTOL business aircraft, if the deal is successfully consummated.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 1:01 pm

HUT

Hut 8 Corp (NASDAQ:HUT) shares are trading higher after the company announced the closing of a $150 million investment from Coatue Management. Additionally, the rise in Bitcoin's price and Hut 8's inclusion in the Russell 3000 Index are contributing factors.

Portfolio Pulse from Adam Eckert

July 01, 2024 | 12:54 pm

ABVE

BITE

Above Food Corp. has begun trading on the Nasdaq under the ticker symbols 'ABVE' and 'ABVE.W' following its merger with Bite Acquisition Corp. (NYSE:BITE).

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 12:39 pm

RELI

Reliance Global Group, Inc. (NASDAQ:RELI) has announced the formation of a new Real Estate division. This division will leverage Ezra Beyman's experience in mortgage brokerage and multi-family properties. Abe Miller, a successful real estate investor, will oversee the division and be compensated on a success-based model. The new division will supplement the company's focus on acquiring profitable insurance agencies.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 12:38 pm

GFF

TTC

The Toro Company (NYSE:TTC) has sold its Australia-based residential Pope Products business to Griffon Corporation's (NYSE:GFF) subsidiary, The AMES Companies, Inc. The acquisition is expected to add $25 million in annualized revenue and be accretive to Griffon's earnings in the first full year of ownership. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 12:32 pm

QSR

THCH

TH International Limited has secured up to $65 million in financing, including $50 million in convertible notes with $40 million issued at closing. Restaurant Brands International (RBI) has acquired the Popeyes China business for $15 million. Tims China has issued a $15 million convertible note to extinguish deferred consideration for the Popeyes China acquisition.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 12:17 pm

AITR

AREC

American Resources Corporation's subsidiary, American Metals LLC, has completed a business combination with AI Transportation Acquisition Corp, valuing the combined company at $170 million. American Metals aims to expand its preprocessing of end-of-life magnets, lithium-ion batteries, and ferrous metals to ensure a domestic supply chain for various materials.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 12:14 pm

EIPX

KEAT

TTE

TotalEnergies SE (NYSE:TTE) shares are trading higher after the company disclosed the acquisition of Tecoil, a Finnish company specializing in the production of Re-Refined Base Oils (RRBOs). Tecoil operates a facility in Finland and has a circular economy network across Europe. This acquisition aligns with TotalEnergies' strategy to enhance its lubricant offerings and reduce carbon footprint. TTE shares are up 2.47% premarket. Investors can gain exposure to TTE via ETFs like EIPX and KEAT.

Portfolio Pulse from Lekha Gupta

July 01, 2024 | 11:51 am

GME

NIO

NVDA

QQQ

SPR

SPY

TSLA

XPEV

U.S. stocks are expected to start the week cautiously, with Nvidia likely to extend its slide, impacting tech stocks. Analyst Daniel Ives predicts a 15% gain for tech stocks in the second half of the year due to AI expansion. Key economic data and bond yields will be closely watched. Boeing fell after confirming its takeover of Spirit AeroSystems, while Tesla rose ahead of its deliveries report. Chinese EV startups saw gains, and GameStop dropped following a class action lawsuit against Roaring Kitty.

Portfolio Pulse from Shanthi Rexaline

July 01, 2024 | 11:35 am

VSTO

Vista Outdoor shares are trading higher after MNC Capital Partners delivered a merger agreement it is prepared to sign for its $42 per share all-cash proposal.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 11:30 am