Streetbeat News

Acquisitions Mergers

VINP

Vinci Partners Investments has entered into an agreement to combine with Compass, involving an upfront consideration of 11.78 million shares of VINP Class A common stock and a cash consideration of US$31.3 million in VINP Class C redeemable common stock.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 10:18 pm

BBAI

BigBear.ai Holdings Inc (NYSE:BBAI) reported Q4 financial results below analyst expectations, with a loss of 14 cents per share against an expected 5 cents and quarterly sales of $40.563 million versus the expected $42.755 million. The company also announced the completion of its acquisition of Pangiam Intermediate Holdings and an increase in its year-end cash balance to $32.6 million from $12.6 million the previous year. Looking forward, BigBear.ai projects FY 2024 revenue to be between $195 million and $215 million, inclusive of Pangiam's results post-acquisition. BBAI shares dropped 18.09% in after-hours trading to $3.08.

Portfolio Pulse from Erica Kollmann

March 07, 2024 | 10:00 pm

BKCC

TCPC

BlackRock TCP Capital Corp. (TCPC) and BlackRock Capital Investment Corporation (BKCC) announced shareholder approval for their merger, with over 90% support. The merger aims to leverage combined scale for investing in middle market companies, enhancing BlackRock's BDC platform and private credit offerings. The merged entity will be a subsidiary of TCPC, which will continue trading under the ticker TCPC on the Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 9:57 pm

CYT

Cyteir Therapeutics, Inc. (NASDAQ:CYT) announced its intent to delist its common stock from the Nasdaq Global Select Market, with trading suspension effective before the market opens on March 18, 2024. This move precedes the company's filing of a certificate of dissolution on March 20, 2024, and the closure of its stock transfer books. The official delisting is expected to be effective on March 28, 2024. This decision is part of Cyteir's Plan of Complete Liquidation and Dissolution, approved by its board and stockholders, due to the costs and burdens of being a publicly traded company amidst its planned dissolution.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 9:53 pm

AVGO

Broadcom, Inc. (NASDAQ:AVGO) reported Q1 earnings of $10.99 per share, surpassing the consensus estimate of $10.29, and sales of $11.96 billion, beating the $11.71 billion estimate. The company saw a 34.16% year-over-year sales increase and reported $4.693 billion in free cash flow. Broadcom's revenue growth is driven by its VMware acquisition and strong demand for networking products in AI data centers. Despite this, Broadcom's shares dropped 3.34% after-hours following the announcement of its fiscal year 2024 revenue guidance, which, at approximately $50 billion, slightly missed the $50.21 billion estimate.

Portfolio Pulse from Erica Kollmann

March 07, 2024 | 9:44 pm

ATER

Aterian has made a minority equity investment in 4th & Heart, consisting of $200K in cash and approximately 145K shares of Aterian common stock. This strategic investment aims to strengthen Aterian's portfolio and market presence.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 9:32 pm

AVGO

Broadcom announced its fiscal 2024 annual revenue guidance of approximately $50 billion, which includes contributions from VMware. This represents a 40% increase from the prior year period.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 9:17 pm

RDNT

RadNet announced a proposed public offering of common stock valued at $200M, with an option for underwriters to purchase an additional $30M. The proceeds are intended for general corporate purposes and potential future acquisitions.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 9:13 pm

COF

DFS

JPM

MA

V

JPMorgan Chase & Co (NYSE:JPM) pursued Discover Financial Services (NYSE:DFS) for a year before Capital One Financial Corp (NYSE:COF) won the bid at $35 billion. JPMorgan aimed to acquire Discover's Pulse payments network but faced regulatory challenges and eventually abandoned the effort. The deal would have reduced JPMorgan's reliance on Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA). Despite regulatory hurdles for JPMorgan, Capital One's acquisition faces less scrutiny, potentially due to its smaller market share.

Portfolio Pulse from Vandana Singh

March 07, 2024 | 8:27 pm

ASTR

Astra Space announced its acquisition by an entity formed by its co-founder, CEO & Chairman Chris Kemp, and co-founder, Chief Technology Officer & Director Adam London. This move signifies a major corporate restructuring and strategic shift for the company.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 8:14 pm