Streetbeat News

Acquisitions Mergers

KEYS

Keysight Technologies has invested $10M in EMVision, an Australian medical device company, to support the development of portable brain imaging technology. This investment marks Keysight's first global investment in medical imaging innovation and provides EMVision with a fully funded path to market for its emu™ device. The technology aims to improve stroke care by enabling rapid diagnostics in settings where traditional imaging is unavailable. EMVision also plans to develop a first responder device for use in ambulances. Keysight will acquire an 8.73% shareholding in EMVision.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 10:12 pm

SCTL

Societal CDMO has entered into a definitive agreement to be acquired by CoreRx. The acquisition price is set at $1.10 per share in cash. This strategic move is expected to enhance the combined entity's capabilities in the pharmaceutical manufacturing and development services sector.

Portfolio Pulse from Charles Gross

February 28, 2024 | 10:08 pm

SCTL

Societal CDMO, Inc. (NASDAQ:SCTL) has announced a definitive agreement to be acquired by CoreRx, Inc. in a cash tender offer for all outstanding shares at $1.10 per share. The transaction, unanimously approved by Societal CDMO's board, is expected to close early in Q2 2024, subject to customary closing conditions. This merger aims to create an enhanced CDMO with broad capabilities in small molecule therapeutic development, from early-stage formulation to commercial manufacturing and packaging.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 10:08 pm

ITRG

Integra Resources Corp. (ITRG) has exercised an option to acquire seventeen unpatented claims in the Rich Gulch area, adjacent to the Florida Mountain Deposit at the DeLamar Project in Idaho. This strategic acquisition, expected to close by March 8, 2024, will provide operational flexibility for future mining and processing scenarios. The purchase will be made through the issuance of common shares, with a minimum of 840,000 shares at a price determined by the five-day VWAP preceding the closing date. The acquisition is a step towards advancing DeLamar towards a construction decision.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 10:06 pm

CLF

FMST

MUX

USAU

Foremost Lithium proposes a $10M project under Canada's Critical Mineral Infrastructure Fund for road construction to its properties. U.S. Gold Corp highlights the strategic advantages of its CK gold project in Wyoming. Cleveland-Cliffs is downgraded by Exane BNP Paribas with a new price target. McEwen Mining reports a significant increase in gold resources at its Stock Mine property.

Portfolio Pulse from Austin DeNoce

February 28, 2024 | 9:58 pm

NVRO

Nevro Corp. (NYSE:NVRO) announced FDA clearance for its Nevro1 sacroiliac joint fusion device, marketed as NevroFix, which can now be used without a lateral screw. This device, featuring self-contained, deployable titanium anchors and 3D-printed bone-growth technology, represents a significant advancement in SI fusion. This clearance follows Nevro's acquisition of Vyrsa Technologies in November 2023, enhancing its portfolio in the SI joint space.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 9:54 pm

DH

Definitive Health projects FY24 revenue to be between $63M-$65M, slightly below the $65.77M estimate. This forecast accounts for the acquisition of the Carevoyance product suite, expecting a 6-10% year-over-year increase. The company also anticipates adjusted operating income of $18M-$19M, adjusted EBITDA of $19.5M-$20.5M, and adjusted net income of $12M-$13M, with per share earnings of $0.07-$0.08.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 9:45 pm

MIXT

PWFL

Powerfleet, Inc. (PWFL) and MiX Telematics Limited (MIXT) have received shareholder approval for their business combination, expected to close in April 2024. The merged entity will operate under the Powerfleet brand on Nasdaq. This move aims to position Powerfleet as a leading global AIoT SaaS company, with anticipated benefits including accelerated growth, increased profitability, and enhanced value for investors.

Portfolio Pulse from Happy Mohamed

February 28, 2024 | 9:42 pm

LAB

Standard BioTools announced post-merger revenue expectations of $200M-$205M, significantly higher than its previous estimate of $120.2M. The merger with SomaLogic was completed on January 5, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 9:40 pm

ESEA

Euroseas Ltd. (NASDAQ:ESEA) has secured a two-year time charter contract for its new 2,800 teu feeder containership, M/V LEONIDAS Z, at a daily rate of $20,000. The charter, with one of the largest liner companies, will commence upon the vessel's delivery around late April or early May 2024. This deal is expected to generate approximately $9 million in EBITDA for the minimum contracted period and increases Euroseas' 2024 charter coverage to about 74%.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 9:38 pm