Streetbeat News

Acquisitions Mergers

TRIN

Trinity Capital Inc. (NASDAQ:TRIN) has committed $50 million in equipment financing to Electric Hydrogen, a manufacturer of electrolyzer systems for producing green hydrogen. This financing supports Electric Hydrogen's gigafactory in Devens, MA, which is set to begin production in Q2. Electric Hydrogen aims to decarbonize industrial processes with its technology and has raised over $600 million in total capital, including a recent $380 million Series C equity raise.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:19 pm

DGLY

Digital Ally's subsidiary, Kustom Entertainment, has acquired the Country Stampede Music Festival, a historic and impactful event, as part of its expansion strategy leading into the 2024 festival season. The terms of the acquisition were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:19 pm

JOBY

Joby Aviation has acquired a new facility in Ohio and has started hiring to support its initial manufacturing operations. This move marks a significant step for Joby as it ramps up its efforts to begin production.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:17 pm

QUIK

QuickLogic Corporation (NASDAQ:QUIK), a developer of embedded FPGA IP and other solutions, has been selected by a large multi-national company to provide eFPGA IP for the TSMC N12e, 12nm process. This IP, scheduled for delivery in fiscal year 2024, is aimed at creating an ultra-low-power SoC for commercial and industrial IoT applications, leveraging AI for data acceleration. QuickLogic's technology was chosen for its ability to adapt to changing AI algorithms, low power consumption, and high throughput.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:16 pm

CATX

LNTH

Perspective Therapeutics, Inc. (NYSE:CATX) has acquired a CGMP-compliant manufacturing facility from Lantheus Holdings, Inc. (NASDAQ:LNTH) to produce 203Pb- and 212Pb-labeled radiopharmaceuticals for cancer treatment. The facility, located in Somerset, New Jersey, will support clinical and potential commercial production. This acquisition, part of strategic agreements with Lantheus, aims to enhance Perspective's manufacturing capabilities and expedite the delivery of its radiopharmaceuticals. Lantheus has also agreed to purchase $57.4 million of Perspective's common stock as part of an investment agreement.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:12 pm

PCRFY

TM

Toyota Motor Corporation (NYSE:TM) is set to acquire full ownership of Primearth EV Energy Co., Ltd. (PEVE), a joint venture with Panasonic Holdings Corporation (OTC:PCRFY), to expand its battery production for electric vehicles. This move aims to enhance Toyota's capabilities in mass-producing automotive batteries, including those for hybrid electric vehicles (HEVs), battery electric vehicles (BEVs), and plug-in hybrid electric vehicles (PHEVs), supporting Toyota's goal of carbon neutrality. The acquisition is expected to be completed in late March.

Portfolio Pulse from Shivani Kumaresan

March 05, 2024 | 1:10 pm

AKTX

PKBO

Akari Therapeutics and Peak Bio have announced a merger of equals. The exchange terms suggest that Akari shareholders and Peak stockholders will each own approximately 50% of the combined company.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:03 pm

CARR

Carrier has reached an agreement to sell its Industrial Fire Business to Sentinel Capital Partners for $1.425 billion. This strategic move is part of Carrier's efforts to streamline its operations and focus on its core businesses.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:04 pm

NDAQ

Nasdaq has outlined its strategy for growth and reaffirmed its medium-term outlook, focusing on achieving synergy and deleveraging targets from the Adenza integration. The company aims to realize 70% of its targeted $80 million in net expense synergies ahead of schedule by the end of 2024. Additionally, Nasdaq plans to accelerate its deleveraging process, intending to reach a 4.0x leverage ratio 9-12 months earlier and a 3.3x leverage ratio at least 6 months before its previously announced targets.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:03 pm

CHH

WH

Choice Hotels International, Inc. (CHH) is encouraging Wyndham Hotels & Resorts, Inc. (WH) shareholders to tender their shares before the March 8, 2024 deadline. This move is aimed at persuading Wyndham's board to engage constructively with Choice on a transaction agreement. Choice may extend or terminate the exchange offer based on shareholder participation and is considering nominating independent directors to Wyndham's board.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 11:36 am