Streetbeat News

Acquisitions Mergers

VCIG

VCI Global has successfully completed its transaction with Cogia GmbH, resulting in the acquisition of Socializer Messenger. This strategic move is aimed at enhancing VCI Global's offerings and expanding its market presence.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 1:03 pm

EH

NVEI

TSVT

Nuvei's shares surged 33% amid reports of buyout talks with Advent International. 2seventy Bio's stock jumped 50% following an FDA Advisory Committee's favorable vote on Abecma for multiple myeloma. EHang's shares increased 17% as the company started selling its EH216-S flying taxi on Taobao.

Portfolio Pulse from ryanfaloona@benzinga.com

March 18, 2024 | 12:44 pm

NOW

ServiceNow announced its plan to acquire 4Industry, a move aimed at expanding its manufacturing services capabilities. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 12:41 pm

NFE

New Fortress Energy Inc. (NFE) has sold two emergency power plants in San Juan and Palo Seco, Puerto Rico, to the Puerto Rico Electric Power Authority (PREPA) for $373 million. Additionally, NFE secured an 80 TBtu gas supply contract with PREPA, doubling its gas supply volumes to these plants. These moves are part of NFE's commitment to enhancing Puerto Rico's energy infrastructure and stability.

Portfolio Pulse from Happy Mohamed

March 18, 2024 | 12:38 pm

CEG

Constellation (NASDAQ:CEG) has issued the first corporate green bond in the U.S. for $900 million with a 30-year term to finance nuclear energy projects. This initiative underscores the role of nuclear energy in achieving sustainability goals and marks a significant step in green financing. The bond will fund investments in maintenance, expansion, and life extensions of nuclear power generation. Crédit Agricole CIB served as the Green Structuring agent for this offering, which aligns with the Green Bond Principles and Green Loan Principles.

Portfolio Pulse from Happy Mohamed

March 18, 2024 | 12:22 pm

LAB

Standard BioTools Inc. (NASDAQ:LAB) has exchanged all its Series B Convertible Preferred Stock for common stock with Viking Global Investors and Casdin Capital. This move, aimed at streamlining the capital structure, issued approximately 93 million shares of common stock at $2.75 per share, resulting in about 17.8 million additional shares compared to the original conversion price of $3.40 per share. This represents less than 5% dilution and eliminates all Series B Preferred senior rights. The company now has around 382.5 million shares of common stock outstanding.

Portfolio Pulse from Happy Mohamed

March 18, 2024 | 12:17 pm

BW

Babcock & Wilcox Enterprises Inc (NYSE:BW) has secured a $246 million contract for a gas conversion project, converting a power plant's coal-fired boilers to natural gas. The full contract is expected to proceed in Q4 2024, with the project reflecting the company's role in the energy transition. BW shares rose 9.10% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 18, 2024 | 12:14 pm

AAPL

EA

GOOG

META

MSFT

MUSQ

NFLX

SONY

WBIL

Sony Group Corp (NYSE:SONY) has paused PlayStation VR2 production due to unsold inventory, facing challenges in the VR market alongside Meta, Apple, and others. The industry sees consolidation, with job cuts and game cancellations. Sony's Q3 fiscal 2023 sales grew 22% YOY, and it explores new strategies like PC title access for PSVR2. Investors can access Sony through WBIL and MUSQ ETFs. SONY shares rose 2.08% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

March 18, 2024 | 12:12 pm

BNIX

Bannix Acquisition has extended the deadline to complete its initial business combination from March 14, 2024, to April 14, 2024. This extension provides additional time for Bannix Acquisition to finalize its business combination plans.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 12:11 pm

WISH

ContextLogic Inc. (WISH) announced a special meeting for stockholders to vote on a proposed transaction with Qoo10, involving the sale of its operating assets for approximately $173 million. The transaction aims to preserve $2.7 billion in NOLs and is expected to leave ContextLogic with $150-$157 million in cash, debt-free, post-sale. The Board unanimously recommends voting 'FOR' the transaction, with a special meeting scheduled for April 12, 2024. The sale is anticipated to close in Q2 2024, subject to stockholder approval.

Portfolio Pulse from Happy Mohamed

March 18, 2024 | 12:11 pm