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Acquisitions Mergers

EYEN

The FDA approved Formosa Pharmaceuticals and AimMax Therapeutics' clobetasol propionate ophthalmic suspension 0.05% (APP13007) for post-operative inflammation and pain following ocular surgery. This marks the first FDA-approved ophthalmic clobetasol propionate product and enters a $1.3 billion market. Eyenovia Inc (NASDAQ:EYEN) is Formosa's U.S. commercialization partner, having obtained exclusive U.S. rights for APP13007. William Blair increased Eyenovia's risk-adjusted fair value from $5 to $7 per share, with an Outperform rating.

Portfolio Pulse from Vandana Singh

March 05, 2024 | 3:59 pm

VIAV

Viavi Solutions' stock is trading higher following the announcement of its agreement to acquire Spirent Communications, indicating a positive market reaction to the acquisition news.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 3:06 pm

EFSH

1847 Holdings LLC (NYSE:EFSH), a New York-based publicly listed private equity group, focuses on small business growth, targeting companies with an enterprise value of less than $50 million. With $70 million in assets under management, 1847 Holdings aims to provide high returns on capital by investing in consumer-facing, asset-light businesses. The fund seeks out family-owned companies lacking succession plans, offering an alternative to traditional public market investments. This niche strategy caters to non-institutional investors like family offices and high net worth individuals, alongside retail investors.

Portfolio Pulse from Neil Dennis

March 05, 2024 | 3:03 pm

AIRG

Airgain, Inc. (NASDAQ:AIRG) has secured a multi-year, multi-million dollar design win with a Tier One MSO in North America for upgrading to Wi-Fi 7 with Airgain's antenna solution, expected to ship in the second half of 2024. This deal, awarded through a competitive process, underscores Airgain's expertise in optimizing WiFi7 Customer Premise Equipment (CPE) performance and its strong relationship with the MSO. The upgrade aims to enhance consumer capacity and performance, opening new revenue opportunities for the MSO.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 3:00 pm

AMDI

Amphitrite Digital Inc (NASDAQ:AMDI) is set to IPO on March 06, offering shares priced between $3.50 and $4.50 with a 180-day insider lock-up period ending on September 02, 2024. The company specializes in providing in-destination tours, activities, and attractions in the US and the Caribbean.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 3:00 pm

LAAC

Ganfeng Lithium agrees to acquire a 15% interest in PGCo, a subsidiary of Lithium Argentina (LAAC), for $70M. The investment will support the development of the Pastos Grandes Basin with a focus on utilizing Ganfeng's DLE technology. The deal, expected to close in Q2 2024, aims to enhance LAAC's balance sheet and foster the global lithium supply chain.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 2:29 pm

FQVLF

JIAXF

First Quantum Minerals is considering selling a minority stake in its Zambian copper operations, including the Sentinel and Kansanshi mines, amid efforts to consolidate its portfolio and focus on reopening its key asset in Panama. The company has signed non-disclosure agreements with several interested parties for due diligence. Despite previous rumors of selling these assets to Jiangxi Copper, First Quantum remains committed to its Zambian operations and has raised around $1 billion to reduce debt and improve liquidity.

Portfolio Pulse from Stjepan Kalinic

March 05, 2024 | 2:23 pm

WAVD

Firefly Neuroscience, Inc. announced findings from a white paper titled 'Brain Network Analytics (BNA) in the Psychiatric Practice: Real-Life Data Analysis', showcasing the significant impact of its BNA™ Platform on disease management in 2,253 U.S patients. The FDA-approved tool demonstrated improvements in treatment compliance, medication selection, and overall patient outcomes for major depressive disorder, generalized anxiety disorder, and ADHD. Additionally, Firefly is set to merge with WaveDancer, Inc. (NASDAQ:WAVD), pending stockholder approval.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 2:18 pm

ABNB

IWGFF

UBER

IWG Plc, a provider of flexible office solutions, is considering a U.S. stock market listing to align its valuation with tech giants like Uber and Airbnb. The company, known for Regus office spaces, is transitioning to report in dollars and adopting U.S. GAAP standards, reflecting its earnings generation in the region. CEO Mark Dixon highlighted the move as part of IWG's growth strategy and adaptation to post-pandemic work trends. Despite efforts to reposition as a tech-forward platform, IWG faces investor skepticism, partly due to the lack of direct competitors for valuation benchmarking.

Portfolio Pulse from Akanksha Bakshi

March 05, 2024 | 2:15 pm

TWLO

Twilio announced the conclusion of its operational review of its Segment business, targeting break-even non-GAAP income from operations by Q2 2025 and GAAP operating profitability by Q4 2025. The company also announced a $2B expansion of its share repurchase authorization and the appointment of Thomas Wyatt as President of Twilio Segment. Twilio aims to address Segment's underperformance through operational changes and believes retaining Segment will enhance shareholder value. The share repurchase reflects confidence in Twilio's strategy and improved cash flow. Twilio affirms its Q1 2024 guidance and provides targets for FY 2024 and FY 2025.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 2:11 pm