Streetbeat News

Acquisitions Mergers

MSOS

MSOX

VRNOF

YOLO

At the Benzinga Cannabis Capital Conference, Verano CIO Aaron Miles stated that the company is actively seeking mergers and acquisitions (M&A) opportunities to expand its footprint in the cannabis industry.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 1:59 pm

MSOS

YOLO

At the Benzinga's Cannabis Capital Conference, Advisorshares Portfolio Manager Dan Ahrens predicted significant M&A activity in the cannabis sector, contingent on federal decisions.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 1:58 pm

DRIV

ICLN

IDRV

KARS

SOXX

TAN

Michael Sayers, CFA at Rockland Trust, predicts double-digit growth in infrastructure and technology sectors due to the CHIPS Act, IRA Act, and Infrastructure Act, allocating approximately $1 trillion over the next decade. Sayers highlights significant investment opportunities in semiconductor, clean energy, and electric vehicle sectors, benefiting ETFs like SOXX, ICLN, TAN, DRIV, IDRV, KARS, and the Russell Global Infrastructure Fund (RGISX). Additionally, infrastructure and manufacturing ETFs such as PAVE, IGF, IFRA, XLI, and ITA are poised for growth, offering investors diversified exposure to these expanding sectors.

Portfolio Pulse from Surbhi Jain

April 16, 2024 | 1:25 pm

BNED

IMMR

Barnes & Noble Education, Inc. (BNED) announced a series of transactions to strengthen its balance sheet, including a $95 million new capital infusion through a $50 million equity investment by Immersion Corporation (IMMR) and a $45 million equity rights offering. Additionally, BNED will equitize approximately $34 million of debt and refinance its asset-backed loan facility to enhance financial flexibility. These moves aim to deleverage the balance sheet, support strategic investments, and improve operational strength.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 1:24 pm

FLGC

Flora Growth (FLGC) has announced a definitive agreement to acquire TruHC for 2,770,562 of its common shares, valued at $6.4M. This acquisition leverages TruHC's German cannabis platform, enhancing Flora's global distribution network with TruHC's expertise in the cannabis sector. The deal is strategic ahead of Germany's expected growth to become the world's largest federally legal cannabis market, potentially surpassing $10 billion in market potential.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 1:24 pm

HPH

Highest Performances Holdings (HPH) shares are trading higher following the announcement of a share purchase agreement with GEM Global Yield, securing an investment of up to $500 million.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 1:21 pm

CORZ

Core Scientific, Inc. (NASDAQ:CORZ) announced a 72-megawatt expansion of its Denton, Texas bitcoin mining data center, increasing its total operational infrastructure to 197 MW and company-owned infrastructure to 817 MW. The expansion, expected to complete by Q2 2024, emphasizes the strategic advantage of owning infrastructure and access to power. This move is part of a broader plan to complete 372 MW of partially built infrastructure in Texas, aiming to add over 20 exahash of mining hash rate at a cost significantly lower than new construction. The company's data centers are also positioned to host alternative forms of compute, offering financial benefits to high-performance computing hosting clients.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 1:17 pm

TRNO

Terreno Realty has expanded its portfolio by acquiring a property in Alexandria, VA, for $84.3 million, indicating a strategic move to strengthen its presence in a key market.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 1:15 pm

APG

APi Group Corporation (NYSE:APG) has agreed to acquire Elevated Facility Services, a leading provider of elevator and escalator maintenance services. The deal, expected to close in Q2 2024, marks L Squared's eighth exit since 2014. Elevated has seen significant growth, with net revenue increasing from ~$60 million in 2017 to an expected ~$220 million in the current year, thanks to strategic investments and 15 add-on acquisitions. The acquisition is subject to regulatory approval and customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 1:03 pm

MCBC

WTFC

Macatawa Bank's stock is trading higher after the announcement that Wintrust Financial will acquire the company. This acquisition indicates a significant change in the ownership and future direction of Macatawa Bank, likely affecting its stock price and operational strategy.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 1:02 pm