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Acquisitions Mergers

BAH

Booz Allen Hamilton (NYSE:BAH) has been awarded a $550 million contract by the U.S. Department of Energy's ARPA-E to support the advancement of innovative energy technologies. This ten-year contract aims to generate, store, and use energy in new ways to reduce U.S. emissions, improve energy efficiency, and enhance the power grid's resiliency. Booz Allen's role includes identifying energy challenges, supporting an innovation ecosystem, and de-risking technologies for long-term funding. The company's extensive experience with government ARPA programs and its corporate venture capital arm, Booz Allen Ventures, positions it as a key partner in driving energy innovation.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 12:05 pm

MDAI

Spectral AI, Inc. (NASDAQ:MDAI) has announced a new contract with the Defense Health Agency and the US Army Medical Material Development Activity valued at over $500,000 for the development of DeepView SnapShot® M, a handheld version of its DeepView Wound Imaging System. This contract adds to previous U.S. Government awards, bringing the total funding for DeepView SnapShot® M to over $6 million. The funding aims to optimize the device for combat readiness and expand its use in home health care, reinforcing Spectral AI's role in AI-driven healthcare innovation.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 12:03 pm

JFBR

Jeffs' Brands Ltd (NASDAQ:JFBR, JFBRW), a data-driven e-commerce company, announced preliminary unaudited financial results for its subsidiary, Fort Products Ltd., showing a 23% increase in Amazon Marketplace sales revenue to $5.3M for 2023. The profit from these sales was $614K, up from $445K in 2022. CEO Victor Hakmon highlighted the success since acquiring Fort and plans for future growth.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 12:01 pm

IONM

Assure Holdings has announced an agreement to sell certain assets to MPOWERHealth, leading to an increase in its share price.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 11:59 am

ACI

AMZN

COST

KR

WMT

The FTC's challenge to the Kroger (KR) and Albertsons (ACI) $24.6 billion merger is set for an August trial in Oregon. The FTC, supported by eight states and Washington D.C., argues the merger could harm worker wages and consumer prices. Kroger and Albertsons defend the merger as necessary to compete with giants like Amazon (AMZN), Walmart (WMT), and Costco (COST), proposing investments to address concerns. However, the FTC finds their divestment plan insufficient. KR shares dropped 1.75% following the news.

Portfolio Pulse from Shivani Kumaresan

March 12, 2024 | 11:59 am

RGLS

Regulus Therapeutics announced positive topline results from the second cohort of its Phase 1b MAD study of RGLS8429 for treating ADPKD, alongside an oversubscribed $100 million private placement of equity. This news has led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 11:55 am

NYCB

New York Community Bancorp, Inc. (NYSE:NYCB) shares are up in premarket trading after closing a $1.05 billion investment deal with Liberty Strategic Capital, Hudson Bay Capital Management, Reverence Capital Partners, and others. The deal, announced on March 6, led to a 6% drop in share prices initially. The equity raise is seen as a vote of confidence in the company's turnaround strategy, enhancing its balance sheet and liquidity. The board has been reduced to ten members, adding four new directors. The company will issue 525 million shares, with investors owning 39.6% on a fully diluted basis. Moody's downgraded NYCB's long-term issuer rating to B3 due to delayed financial reporting and internal control weaknesses.

Portfolio Pulse from Nabaparna Bhattacharya

March 12, 2024 | 11:44 am

AREC

American Resources Corporation (AREC), a supplier of rare earth and critical elements, has accepted a term sheet for an investment of up to $50M into its subsidiary, ReElement Technologies, from an investment fund. The investment values ReElement Technologies at a pre-money valuation of $300M.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 11:34 am

DWAC

PHUN

RUM

The Washington Post reported that Donald Trump inquired if Elon Musk was interested in purchasing Truth Social, but the proposal did not progress further.

Portfolio Pulse from Charles Gross

March 12, 2024 | 11:18 am

NOTE

FiscalNote has announced the divestiture of its Board.org business to Executive Platforms for a total consideration of up to $103M. Board.org accounts for about 10% of FiscalNote's FY 2023 GAAP revenue.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 11:01 am