Streetbeat News

Acquisitions Mergers

AYRWF

IIPR

Innovative Industrial Properties, Inc. (IIPR) has acquired a 16-acre property in Ocala, Florida for $13 million and entered into a long-term lease with Ayr Wellness Inc. (AYRWF). IIPR will reimburse up to $30 million for redevelopment, bringing the total investment to $43 million. Ayr operates 64 dispensaries in Florida, a major medical cannabis market, and could benefit from potential adult-use legalization in November 2024.

Portfolio Pulse from Nina Zdinjak

June 10, 2024 | 1:54 pm

ADV

Advantage Solutions has announced the sale of Strong Analytics to OneSix. The terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 1:05 pm

LQR

LQR House Inc. (NASDAQ:LQR) has acquired 1.92 million shares of DRNK Beverage Corp at $2.50 per share, totaling $4.8 million. This strategic investment marks LQR House's entry into the non-alcoholic and ready-to-drink beverage markets.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 12:48 pm

DSY

KKR

SKYE

Market-Moving News for June 10th: Big Tree Cloud (DSY) shares surge 255% following business combination with Plutonian Acquisition Corp. and recent Nasdaq debut. Skye Bioscience (SKYE) shares plummet 45% after discontinuing SBI-100 Ophthalmic Emulsion Phase 2a trial. KKR & Co (KKR) shares rise 9% on news of joining the S&P 500.

Portfolio Pulse from ryanfaloona@benzinga.com

June 10, 2024 | 12:40 pm

DSY

Big Tree Cloud shares are trading higher after completing a business combination with Plutonian Acquisition Corp. and experiencing volatility since its Nasdaq debut last week.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 12:34 pm

DAL

LUV

UAL

Southwest Airlines (NYSE:LUV) stock is trading higher on Monday following reports that Elliott Investment Management is taking a $2 billion stake in the airline. Despite recent challenges, including technology failures and missed earnings estimates, the stock is up 8.11% premarket.

Portfolio Pulse from Anusuya Lahiri

June 10, 2024 | 12:29 pm

DO

NE

Diamond Offshore Drilling shares are trading higher after Noble announced an agreement to acquire the company.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 12:26 pm

CTSH

FCFY

QVAL

Cognizant Technology Solutions Corporation (NASDAQ: CTSH) has agreed to acquire Belcan, LLC for $1.3 billion in cash and stock. The acquisition aims to enhance Cognizant's ER&D capabilities and expand its market access. The deal is expected to close in Q3 2024, with significant revenue and cost synergies anticipated.

Portfolio Pulse from Lekha Gupta

June 10, 2024 | 12:24 pm

OXBR

Oxbridge Re Holdings Limited (NASDAQ: OXBR) is evaluating strategic alternatives to maximize shareholder value, including potential sale, spinout, merger, divestiture, recapitalization, or continuing as an independent company. This evaluation includes its Web-3 division subsidiary, SurancePlus Holdings Ltd.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 12:10 pm

CRML

Critical Metals Corp. (NASDAQ:CRML) has announced a $211 million deal to acquire a controlling interest in the Tanbreez Greenland Rare Earth Mine. This acquisition aims to enhance the supply of rare earth elements (REEs) essential for electrification and next-generation technologies in Europe and North America. The project is expected to reduce dependence on Chinese imports and support various commercial and defense applications.

Portfolio Pulse from Shivani Kumaresan

June 10, 2024 | 12:09 pm