Streetbeat News

Acquisitions Mergers

RELI

Reliance Global Group, Inc. (NASDAQ:RELI) shares surged 245% after the company updated on its pending acquisition of Spetner Associates, projecting to double annual revenues to $28 million. The acquisition's impact is surpassing expectations, with Spetner’s BenManage segment now covering 85,000 employees. Heavy trading volume was noted with over 46 million shares traded.

Portfolio Pulse from Erica Kollmann

June 18, 2024 | 3:11 pm

LRHC

La Rosa Holdings Corp. shares are trading higher after the company entered a non-binding letter of intent to acquire a controlling interest in Red Door Title.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 2:59 pm

RELI

Reliance Global shares are trading higher after the company announced that it expects the pending acquisition of Spetner Associates to close in the second half of 2024, projecting an increase in annualized revenue to approximately $28 million.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 2:53 pm

FUN

SIX

Cedar Fair and Six Flags shares are trading higher following the announcement of their merger, expected to close on July 1. Six Flags also declared a special dividend of $1.53 per share.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 2:42 pm

COSM

Cosmos Health shares are trading higher following the announcement of an agreement to acquire all remaining rights from a patent filed with the World Intellectual Property Organization.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 2:25 pm

CRMT

America’s Car-Mart Inc (NASDAQ:CRMT) shares are down after reporting worse-than-expected Q4 EPS and a sales decline. Despite beating revenue estimates, the company saw a decrease in retail units sold and same-store revenue. EPS missed estimates significantly.

Portfolio Pulse from Shivani Kumaresan

June 18, 2024 | 2:18 pm

COSM

Cosmos Health Inc. (NASDAQ:COSM) has entered into an agreement to acquire the remaining 40% rights to a WIPO-filed CNS cancer drug patent, strengthening its position in the global brain tumor market. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 2:03 pm

BSX

SILK

Boston Scientific Corporation (NYSE:BSX) has agreed to acquire Silk Road Medical Inc (NASDAQ:SILK) for $1.3 billion, adding stroke prevention technology to its vascular portfolio. The acquisition price represents a 38% premium to Silk Road's recent average share price. The deal is expected to close in the second half of 2024, with Silk Road becoming a wholly-owned subsidiary of Boston Scientific.

Portfolio Pulse from Vandana Singh

June 18, 2024 | 2:02 pm

GAME

GameSquare has sold a 25.5% interest in FaZe Media for $9.5 million to an entity controlled by FaZe Banks. This follows an $11 million investment by Matt Kalish for a 49% interest, valuing FaZe Media at $40 million. GameSquare retains controlling interest and 100% ownership of FaZe Esports.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 1:42 pm

BX

BXMT

Blackstone Real Estate and MRP Group have increased their tender offer price for Terrafina's real estate trust certificates to Ps.39.50 per certificate, representing a 24% premium over the unaffected price and an 8% premium over the recent closing price.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 1:31 pm