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Acquisitions Mergers

SERV

UBER

Serve Robotics Inc. announced a public offering of 10 million shares at $4 each, totaling $40 million, with participation from Postmates, LLC, a subsidiary of Uber Technologies Inc. Serve will uplist to the Nasdaq Capital Market under the symbol 'SERV', moving from the OTCQB Venture Market where it was listed as 'SBOT'.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 7:59 am

CTRI

SWX

Southwest Gas Holdings, Inc. (SWX) and its subsidiary Centuri Holdings, Inc. (CTRI) announced the pricing of Centuri's IPO at $21 per share for 12.4 million shares. The IPO is set to begin trading on the NYSE under the symbol CTRI on April 18, 2024, with a closing date of April 22, 2024. Additionally, Icahn Partners will purchase 2.59 million shares of Centuri in a private placement at the IPO price, totaling approximately $54.4 million.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 7:26 am

ARKK

ARKQ

ARKW

TSLA

Cathie Wood's Ark Invest purchased $10.3M worth of Tesla (TSLA) shares amid a price downturn, through its ETFs ARKK, ARKQ, and ARKW. This acquisition occurs despite Tesla's recent stock losses and concerns over its quarterly performance and product pipeline. The purchase aligns with Ark's long-term bullish view on Tesla, following a previous buy of $3.3M in shares. The move coincides with Tesla CEO Elon Musk's announcement of removing inventory discounts and his anticipated investment announcement in India.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 2:02 am

BRKR

NSTG

NanoString Technologies is set to be acquired by Bruker for approximately $392.6 million in cash, along with the assumption of certain liabilities. This acquisition, resulting from a competitive auction, will conclude NanoString's chapter 11 bankruptcy proceedings, with the business operations being owned by Bruker moving forward. The transaction, supervised under a chapter 11 sale process, is anticipated to close in early-May 2024.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 9:27 pm

BRAC

Broad Capital Acquisition, a blank check company, has confirmed funding to extend its period to consummate an initial business combination until May 13, 2024. This extension provides the company with additional time to identify and finalize a merger or acquisition deal.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 9:23 pm

CABO

MDC

Cable One is set to replace MDC Holdings in the S&P SmallCap 600 effective before trading begins on Monday, April 22, due to Sekisui House Ltd.'s acquisition of MDC Holdings, expected to finalize on April 19.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 9:21 pm

AMTB

Amerant Bancorp (AMTB) has announced the sale of Amerant Bank's banking operations and six branches in Houston, Texas, to MidFirst Bank. The deal includes around $576 million in deposits and $529 million in loans. The transaction is pending regulatory approvals and is expected to close in the second half of 2024. No financial terms of the deal were disclosed.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 9:02 pm

AA

Alcoa Corporation (NYSE:AA) reported Q1 financial results with a loss of 81 cents per share and revenue of $2.6 billion, surpassing the $2.56 billion analyst consensus. The company saw a 6% increase in third-party alumina revenue but a 3% decrease in aluminum revenue. Alumina production fell by 4%, while aluminum production remained steady. Alcoa announced the acquisition of Alumina Limited, aiming for strategic benefits and announced positive outlooks for alumina production and shipments. Alcoa shares rose 3.52% in after-hours trading.

Portfolio Pulse from Erica Kollmann

April 17, 2024 | 8:39 pm

COF

DFS

Discover Financial Services (NYSE:DFS) reported Q1 revenue of $4.21 billion, a 13% increase year-over-year, beating estimates. Earnings per share were $1.10, down from last year. Total loans grew to $126.6 billion, with credit card loans at $99.5 billion. The net charge-off rate rose to 4.92%. A merger with Capital One Financial Corporation (NYSE:COF) is in progress, aiming to create a larger banking and payments organization.

Portfolio Pulse from Chris Katje

April 17, 2024 | 8:39 pm

TWKS

Thoughtworks (NASDAQ:TWKS) has acquired technology and talent from Watchful, including a team of seven and co-founders Shayan Mohanty and John Singleton, to enhance its AI and data solutions. This move aims to solidify Thoughtworks' position as a leading AI transformation partner globally. The acquisition will help expedite AI deployment for clients, providing faster returns on AI investments. Watchful's operations will cease, but existing clients will continue to receive support.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 8:35 pm