Streetbeat News

Acquisitions Mergers

DEA

Easterly Government Properties, Inc. (NYSE:DEA) has acquired a 135,200 square foot facility near Dallas, Texas, primarily leased to the U.S. Immigration and Customs Enforcement's OCIO and Office of Human Capital. The facility, which is 95% leased, includes two additional private tenants and has a weighted average initial lease term of 16.2 years. This acquisition is part of Easterly's strategy to enhance cashflows and provide accretive growth for shareholders, contributing to the company's portfolio of 91 properties totaling 8.9 million square feet.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 1:01 pm

BLMH

Blüm Holdings Inc. (OTCQB:BLMH) reported a 36% decrease in 2023 revenue to $33.2 million, attributing the drop to a strategic slowdown in its distribution segment. Despite this, the company narrowed its net loss by 93% to $13.8 million from the previous year and increased its gross margin from 35% to 53%. The company also exited an unprofitable cultivation facility and became the parent company of Unrivaled Brands, Inc. Shares fell 12.36% to $0.78 after the announcement.

Portfolio Pulse from Jelena Martinovic

April 16, 2024 | 12:58 pm

DCO

Ducommun has rejected an unsolicited, non-binding proposal from Albion River to acquire all outstanding shares of the company for $60/share in cash, stating the offer undervalues the company. Ducommun's Board and Management are committed to their Vision 2027 Strategy for long-term growth.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:43 pm

RWAY

Runway Growth Capital LLC has committed $40M to CarNow, a live-data automotive technology platform, to accelerate product development and enhance digital retailing solutions in the automotive industry. This investment aims to support CarNow's market expansion and innovation in car buying and selling experiences.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:40 pm

BA

Boeing Co. (NYSE:BA) has terminated its contract with Cornerstone Government Affairs, the lobbying firm that supported Boeing during the 737 Max crisis. This decision, made by Boeing's chief lobbyist Ziad "Z" Ojakli, aligns with the company's strategy to overhaul its leadership and lobbying efforts following the 737 Max incidents. Boeing's lobbying investment in 2023 amounted to $14.4 million with a significant lobbying team in place. The company's recent challenges include a decline in commercial aircraft deliveries and a safety incident involving a Delta Air Lines Boeing 757.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 12:39 pm

CVLT

Commvault has completed the acquisition of Appranix, a company specializing in cloud data protection and management. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:38 pm

BRLS

Borealis Foods Inc. (NASDAQ:BRLS), led by CEO Reza Soltanzadeh, provided a shareholder update highlighting 2023 achievements including revenue growth, a $50 million funding injection, partnership with Gordon Ramsay, the launch of Woodles in U.S. schools, and expansion into new markets. The company also noted an 18.5% increase in sales of Chef Woo and Ramen Express, expansion of distribution points, and significant e-commerce growth. Borealis aims to expand its institutional business and has partnered with Feeding America to distribute Chef Woo ramen in Sam's Clubs across the U.S.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:37 pm

BRTX

CGEM

ITCI

Cullinan Therapeutics (CGEM) shifts focus to autoimmune diseases, discontinuing its B-NHL study to develop CLN-978, with lupus as the first target. Intra-Cellular (ITCI) reports positive Phase 3 results for Lumateperone in major depressive disorder. BioRestorative Therapies (BRTX) sees shares rise after FDA clearance for a Phase 2 study protocol amendment.

Portfolio Pulse from ryanfaloona@benzinga.com

April 16, 2024 | 12:36 pm

JAGX

Jaguar Health, Inc. (NASDAQ:JAGX) has entered into a 5-year exclusive in-license agreement with Venture Life Group PLC for the FDA-approved oral mucositis product, Gelclair, targeting the U.S. market. Gelclair, aimed at managing pain and providing relief for oral mucositis patients, marks Jaguar's expansion into cancer supportive care. The commercial launch is planned for Q3 2024. Oral mucositis is a common side effect of cancer treatments, affecting up to 40% of chemotherapy patients and 90% of those with head and neck cancers undergoing chemotherapy and radiotherapy.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 12:35 pm

MCBC

WFTC

Macatawa Bank Corporation's shares surged 37% in pre-market trading following the announcement of a definitive merger agreement with Wintrust Financial Corporation, where Wintrust will acquire Macatawa in an all-stock transaction. Other stocks also showed significant movement in pre-market trading, with notable gainers including Dynatronics Corporation, Dragonfly Energy Holdings Corp., and WiSA Technologies, Inc., among others. Conversely, several companies experienced declines, such as Ryvyl Inc., Inovio Pharmaceuticals, Inc., and Calidi Biotherapeutics, Inc., due to various factors including public offerings and disappointing financial results.

Portfolio Pulse from Avi Kapoor

April 16, 2024 | 12:14 pm