Streetbeat News

Acquisitions Mergers

ESAC

ESACU

ESACW

ESGEN Acquisition Corp. (NASDAQ: ESAC, ESACU, ESACW) and Sunergy Renewables have announced that ESGEN's shareholders approved a business combination, resulting in the formation of Zeo Energy Corp. The combined entity is expected to trade on the Nasdaq under the new ticker symbols 'ZEO' for common stock and 'ZEOWW' for warrants. This follows a shareholder meeting on March 6, 2024, with the business combination expected to close in the coming weeks.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:47 pm

GWRS

Global Water Resources Inc (NASDAQ:GWRS) reported Q4 FY23 sales growth of 11.4% year-on-year to $12.368 million, surpassing analyst estimates. The growth was primarily due to new connections from the acquisition of Farmers Water. Operating income rose 34.8% to $1.66 million, and active service connections increased by 9.8%. Adjusted EPS was $0.07, above analyst expectations of $0.04. The company ended the quarter with $4.76 million in cash.

Portfolio Pulse from Shivani Kumaresan

March 07, 2024 | 1:45 pm

ETWO

E2open Parent Holdings, Inc. (NYSE:ETWO) announced the initiation of a strategic review to enhance shareholder value and strengthen its position in the supply chain management software market. The company reaffirmed its FY24 revenue guidance of $628M-$633M. The review aims to explore options for growth and value creation without a set deadline for completion. E2open's financial advisors for the review are Rothschild & Co and Citi, with Kirkland & Ellis as legal counsel.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:43 pm

GROM

Grom Social Enterprises has announced its intention to acquire Arctic7, although the terms of the acquisition have not been disclosed. This strategic move could potentially expand Grom's market presence and product offerings.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:39 pm

BREA

CERO

LYT

CERO Therapeutics, Inc. announced preclinical research supporting CER-1236 for AML treatment, causing its stock to surge 838%. Brera Holdings' shares rose 211% after Executive Chairman Daniel McClory acquired a majority stake. Lytus Technologies entered the $326 billion data center market with its Lytus Cloud Infrastructure Services, leading to a 392% stock increase.

Portfolio Pulse from ryanfaloona@benzinga.com

March 07, 2024 | 1:37 pm

ETWO

E2open has announced the initiation of a strategic review process to explore options that could enhance shareholder value. This could include potential sales, mergers, acquisitions, or other strategic partnerships.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:36 pm

VOXX

VOXX International Corporation (NASDAQ:VOXX) announced a joint venture between its subsidiary EyeLock LLC and GalvanEyes Partners LLC to form BioCenturion, LLC. This new entity aims to consolidate technology, R&D, sales, marketing, and business development. GalvanEyes will manage the venture, with EyeLock retaining significant rights and responsibilities. The venture is expected to streamline operations and open growth avenues, with VOXX anticipating savings and a focus on profitable biometrics business. Beat Kahli steps down as VOXX's President but remains involved as co-Vice Chairman and CEO of BioCenturion.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:36 pm

CDMO

LYT

RSI

VSCO

Rush Street Interactive, Inc. (RSI) shares surged 25.2% in pre-market trading after reporting Q4 financial results that exceeded expectations and providing strong 2024 revenue guidance. Other stocks also showed significant movement in pre-market trading, with notable gainers including Lytus Technologies Holdings (LYT), Brera Holdings (BREA), and Beneficient (BENF), among others. On the losing side, Victoria's Secret & Co. (VSCO) and Avid Bioservices, Inc. (CDMO) saw substantial declines.

Portfolio Pulse from Avi Kapoor

March 07, 2024 | 1:05 pm

AUUD

AUUDW

Auddia Inc. has announced the withdrawal of its S-1 filing intended to finance the acquisition of Radio FM, citing unfavorable market conditions. The company will continue pursuing two other AM/FM streaming radio targets under LOI, which are more favorably priced, and plans to reengage with Radio FM for a larger transaction in the future after these acquisitions are completed and integrated.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 1:04 pm

AGR

Avangrid's stock price increased following an announcement that Iberdrola proposed to acquire all common shares not already owned by it or its affiliates for $34.25 per share in cash. The proposal was made to the Unaffiliated Committee of Avangrid's Board of Directors and is non-binding.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 12:56 pm