Streetbeat News

Acquisitions Mergers

RVSN

Rail Vision, Ltd. (NASDAQ:RVSN) shares surged after announcing an order for its AI-driven Switch Yard System from a major U.S. Class 1 freight rail company. The system will be installed on a locomotive for evaluation, aiming to enhance safety and efficiency in rail operations. The news has significantly increased trading volume, with over 24.4 million shares traded, far exceeding the 100-day average of 7.108 million shares.

Portfolio Pulse from Erica Kollmann

March 11, 2024 | 3:03 pm

BALY

Bally's shares surged following a proposal from Standard General to acquire all outstanding shares of common stock not currently owned by them for $15 per share. The offer is non-binding and was communicated through a letter to Bally's board.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 2:50 pm

ACA

NOV

Arcosa Inc (NYSE:ACA) has agreed to acquire Ameron Pole Products, LLC from NOV Inc (NYSE:NOV) for $180 million in cash. Ameron, a manufacturer of engineered poles for infrastructure applications, reported $94 million in revenues and $20 million in Adjusted EBITDA for the year ended December 31, 2023. Arcosa plans to fund the acquisition with cash and borrowings, aiming to expand its product offerings in the lighting, traffic, and telecom sectors. The transaction is expected to close in Q2 2024. ACA shares dropped 1.02% to $83.86.

Portfolio Pulse from Shivani Kumaresan

March 11, 2024 | 2:48 pm

EQT

GNE

VTYX

U.S. stocks were lower on Monday, with the Dow Jones index falling over 150 points. EQT Corporation's shares dropped 8.4% after announcing a merger with Equitrans Midstream. Other notable declines include Ventyx Biosciences, MoneyLion Inc., Genie Energy Ltd., and several others, each falling due to various company-specific news such as clinical data reports, quarterly results, and strategic updates.

Portfolio Pulse from Avi Kapoor

March 11, 2024 | 2:37 pm

BLNK

Blink Charging Co. (NASDAQ:BLNK) announced the establishment of its global corporate headquarters and a new manufacturing facility in Bowie, Maryland. The new 15,000 square-foot headquarters and a 30,000 square-foot LEED Gold-certified production facility aim to increase manufacturing capacity to over 50,000 EV charging units annually, up from 15,000. This expansion supports Blink's commitment to sustainable transportation and the increasing demand for EV charging infrastructure. The move also includes the creation of the Blink Center of Charging Excellence, featuring vehicle interoperability testing, charger certification, and advanced R&D capabilities.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 2:35 pm

KKR

MECVF

KKR & Co (NYSE:KKR) has agreed to acquire mdf commerce inc. (OTC:MECVF) for C$255 million in cash, representing a significant premium over the current and 52-week high share prices. The deal, expected to close in Q2 2024, aims to accelerate the expansion of mdf commerce's North American eProcurement platform, serving over 6,500 government agencies and 650,000 suppliers. KKR's investment is part of its Ascendant Strategy focusing on middle market businesses in North America.

Portfolio Pulse from Lekha Gupta

March 11, 2024 | 2:25 pm

BITF

Bitfarms Ltd. (BITF) has announced the purchase of additional miners to reach a mining capacity of 21 EH/s in 2024. The company fully exercised a purchase option for 28,000 Bitmain T21 miners and bought an additional 19,280 Bitmain T21 miners, 3,888 Bitmain S21 miners, and 740 Bitmain S21 Hydro miners. These acquisitions are part of Bitfarms' expansion plan, aiming to operate one of the newest and most powerful mining fleets in anticipation of a bull market. The company plans to liquidate older miners to offset the cost of new ones and aims to improve hashrate, energy efficiency, and operating costs per terahash.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 2:11 pm

NLCP

NewLake Capital Partners, Inc. (NLCP) reported a 6.4% YoY increase in Q4 revenue and a 5.1% increase in full-year revenue for 2023, amidst a challenging cannabis industry environment. The company also announced a dividend increase and highlighted financial achievements including record revenue and AFFO. Additionally, NewLake invested in expanding a cultivation facility in Missouri and sold a facility in Massachusetts.

Portfolio Pulse from Jelena Martinovic

March 11, 2024 | 2:09 pm

WAVD

WaveDancer, Inc. (NASDAQ:WAVD) is urging its stockholders to vote FOR the proposals at the upcoming special meeting on March 14, 2024. The Board highlights the importance of these votes for the merger with Firefly Neuroscience, potential fundraising efforts, and avoiding negative outcomes like asset sales at low prices or Nasdaq delisting. CEO Jamie Benoit emphasizes voting FOR the proposals aligns with the long-term interest of stockholders, but encourages all to vote regardless of their stance.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:51 pm

BALY

On March 11, 2024, Standard General proposed to acquire all outstanding shares of Bally's (BALY) not already owned by them for $15/share. The proposal is subject to approval by a special committee and a majority of non-affiliated shareholders. No assurance of transaction completion.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:37 pm