Streetbeat News

Acquisitions Mergers

UMAC

Unusual Machines, Inc., a leader in FPV drone technology, announced its IPO pricing at $4 per share for 1.25M shares, aiming to raise $5M. The shares will trade on the NYSE American under the symbol 'UMAC' starting February 14, 2024. The proceeds will fund the Fat Shark and Rotor Riot acquisitions, working capital, and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 2:02 pm

YTEN

Yield10 Bioscience has granted a global license to VISION Bioenergy for certain Camelina varieties, including those with herbicide tolerance, for use in biofuels. The deal includes $3M in cash payments to Yield10, with a three-year exclusivity period for VISION, after which the license becomes non-exclusive. Yield10 retains rights for sublicensing and developing these varieties for other products.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 2:02 pm

IINN

Inspira Technologies (IINN) stock surged 113.5% to $2.05 after announcing the U.S. Patent approval for its VORTX technology, a key component of the INSPIRA ART500 device. This innovation aims to revolutionize blood oxygenation by eliminating the need for fiber membranes, reducing blood cell damage. CEO Dagi Ben-Noon highlighted this as a critical advancement in patient care and healthcare technology.

Portfolio Pulse from Henry Khederian

February 14, 2024 | 2:01 pm

GS

NUKK

Nukkleus Inc. (NASDAQ:NUKK) shares fell in premarket trading after a significant rise the previous day. The drop follows the announcement of a term sheet for acquiring Mercury Global, a cross-border payments firm. Additionally, Goldman Sachs Group, Inc. (NYSE:GS) holds a 7.2% passive stake in Nukkleus. Nukkleus also announced an MOU to increase its stake in Jacobi Asset Management and a payments partnership in Africa, potentially raising its ownership in Jacobi to about 20%.

Portfolio Pulse from Nabaparna Bhattacharya

February 14, 2024 | 2:00 pm

AIR

TGI

AAR Corp (AIR) announced its plan to finance the acquisition of Triumph Group's (TGI) Product Support business through a proposed offering of $500 million senior notes due 2029 and an expanded revolving credit facility. The proceeds from the notes offering and the expanded credit facility, which will increase from $620 million to at least $795 million, will fund the acquisition. The notes will be deposited into an escrow account until the acquisition's closing conditions are met. If the acquisition does not close, the notes will be subject to a mandatory redemption. The notes, not registered under the Securities Act, will be offered to qualified institutional buyers and certain non-U.S. persons.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 1:56 pm

GE

RYCEY

TAWNF

Thai Airways International Pcl has chosen General Electric Co. over Rolls-Royce Holdings Plc for its next-generation widebody engines in a deal involving 45 Boeing Co. aircraft. This decision, influenced by previous criticisms of Rolls-Royce's pricing, marks a significant shift for Thai Airways and represents a notable loss for Rolls-Royce, which has been aiming to improve profitability. The engines will power Boeing aircraft to be added to Thai Airways' fleet from 2027 to 2033, a move that does not impact the airline's debt rehabilitation plans. This order is crucial for GE, especially ahead of its GE Aerospace and GE Vernova Spin-Off, and provides a boost to Boeing amidst its recent challenges.

Portfolio Pulse from Benzinga Neuro

February 14, 2024 | 1:49 pm

TIRX

TIAN RUIXIANG Holdings, through its subsidiary, has entered into an agreement to acquire Peak Consulting Services Limited for a total consideration of $1.5 million, to be paid in 3,472,222 of the company's Class A ordinary shares.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 1:47 pm

TCBP

TC BioPharm (Holdings) PLC (NASDAQ:TCBP), a clinical stage biotechnology company, announced significant operational achievements including FDA clearance for a Phase 1B study in AML, a new collaboration with Queen Mary University of London, and cost-savings of approximately $11.6M. The company successfully dosed the final patient in the ACHIEVE Study safety cohort and looks forward to interim data in 2024. TCBP also highlighted its focus on strategic partnerships and platform expansion into anti-fungal and anti-bacterial programs.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 1:46 pm

IPX

IperionX is advancing towards commercial-scale titanium production with significant progress at its Virginia Titanium Manufacturing Campus. The company has received the first $2.4M from a $12.7M Department of Defense grant for the Phase I ramp-up. The HAMR titanium furnace, a key asset, has passed factory tests and is expected to be installed in Q2 2024, with titanium production starting mid-year. This initiative aims to revitalize the U.S. titanium supply chain, offering high-performance, low-cost titanium products with lower environmental impacts.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 1:44 pm

VZIO

WMT

Walmart Inc (NYSE:WMT) is in talks to acquire Vizio Holding Corp (NYSE:VZIO) for over $2 billion, aiming to enter the smart TV market and enhance its advertising capabilities. This move is part of Walmart's strategy to compete with Amazon (NASDAQ:AMZN) and other retailers in the advertising space. The acquisition could significantly boost Walmart's advertising revenue, allowing for investments in customer services. Vizio's expertise in affordable TVs and its ventures into advertising and streaming present a valuable addition to Walmart's advertising business.

Portfolio Pulse from Anusuya Lahiri

February 14, 2024 | 1:38 pm