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Acquisitions Mergers

CASA

Casa Systems has entered into a 'stalking horse' asset purchase agreement for the sale of certain assets related to its cable and broadband business units to Vecima for $20M. Casa Systems will continue to operate under the jurisdiction of the bankruptcy court as a debtor in possession, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:39 pm

CASA

Casa Systems and some of its units have entered into an asset purchase agreement with Lumine, involving the sale of the debtors' Cloud/RAN APA assets for $15M. Additionally, Casa Systems and some units have entered into a 'Stalking Horse' asset purchase deal with Vecima, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:38 pm

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SNDL

Following a Florida Supreme Court decision, a report by Pablo Zuanic predicts a 400% growth in Florida's cannabis market if legalization passes in Nov. 2024, potentially increasing the market to $6B. Companies like Cansortium, AYR Wellness, iAnthus, SNDL, Trulieve, Planet 13, Cannabist, Cresco, Verano, and Curaleaf are expected to see significant valuation increases. The report also anticipates increased M&A activity and benefits for ancillary service providers like WM Technology.

Portfolio Pulse from Nicolás Jose Rodriguez

April 03, 2024 | 8:36 pm

LUNR

Intuitive Machines, Inc. (NASDAQ: LUNR) has been awarded a $30 million contract by NASA to conduct a Lunar Terrain Vehicle Services Feasibility Assessment as part of NASA's Artemis campaign. This marks the company's entry into human spaceflight operations within the $4.6 billion LTV Services project. The contract involves developing a roadmap for deploying a Lunar Terrain Vehicle on the Moon using Intuitive Machines' Nova-D cargo-class lunar lander. Partners including AVL, Boeing, Michelin, and Northrop Grumman will contribute to the vehicle's design, showcasing advanced capabilities in power management, autonomous driving, and navigation for lunar exploration.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:15 pm

BNL

Broadstone Net Lease (BNL) invested $40.1 million in Q1 2024, including development fundings and capital expenditures, primarily for a distribution facility in Sarasota, Florida. The facility, leased to UNFI for 15 years, is expected to open in Q3 2024 with a 7.2% stabilized yield. BNL has $282.7 million in committed investments and sold 37 healthcare properties for $251.7 million. The portfolio was 99.2% leased, with 99.0% of base rents collected.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:13 pm

RLGT

Radiant Logistics, Inc. (RLGT) has acquired Viking Worldwide, Inc., a Minnesota-based company specializing in logistics for various industries. The deal is structured with future payments based on Viking's performance. Viking, operating under the Service By Air brand since 2012, will transition to the Radiant brand in 2024. This acquisition aligns with Radiant's strategy of partnering with logistics entrepreneurs and expanding its network.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:12 pm

LNN

Lindsay Corporation has agreed to acquire a 49.9% minority interest in Austria-based Pessl Instruments GmbH, which has over 80,000 connected in-field data collection devices and 50,000 active customers. The deal, for which terms were not disclosed, is expected to close in the second half of fiscal 2024.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:08 pm

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Following the Florida Supreme Court's decision to allow a constitutional amendment for legalizing recreational marijuana on the November 2024 ballot, cannabis companies, including Trulieve, have collectively contributed over $15 million in support. Trulieve had previously donated $40 million. The amendment, known as Amendment 3, aims to legalize non-medical personal use of marijuana for adults 21 or older and requires a 60% voter approval. Companies like Verano Holdings, Curaleaf Holdings, AYR Wellness, Cresco Labs, Green Thumb Industries, and INSA, Inc. are among the new donors. The funding announcement coincides with the upcoming Benzinga Cannabis Capital Conference in Florida.

Portfolio Pulse from Maureen Meehan

April 03, 2024 | 7:56 pm

EAF

Nilesh Undavia and the Undavia Group, holding approximately 5.9% of GrafTech International Ltd. (NYSE:EAF) shares, have issued a letter urging shareholders to vote for Undavia's election to the board at the upcoming Annual Meeting on May 9, 2024. The letter criticizes the current board for poor decision-making, including the appointment of the former CFO as CEO, environmental risk mismanagement, and excessive director compensation despite significant shareholder value destruction. Shares have dropped 90% since the IPO, and bonds trade at 64 cents on the dollar. Undavia aims to add an independent, large shareholder perspective to the board to revive GrafTech's market leadership.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:54 pm

TGS

Transportadora De Gas Del Sur (TGS) has agreed with ENERGAS on a 675% increase in natural gas transportation tariffs starting April 2024, with further monthly adjustments from May 2024. Additionally, TGS commits to an AR$27.69 billion investment plan in 2024.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:47 pm