Streetbeat News

Acquisitions Mergers

FCPT

FCPT has acquired a primary care property operated by Baptist Medical Group for $9.7 million. The property, part of the Baptist Memorial Health Care system, is located in Tennessee and is under a long-term, triple net lease with about 10 years remaining. The deal was completed at a 6.9% cap rate on rent, excluding transaction costs.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 6:33 am

VBIV

Brii Biosciences has agreed to acquire VBI Vaccines' intellectual property rights for BRII-179 (VBI-2601) and plans to initiate a technology transfer to expand clinical and commercial supplies. The agreement includes a $2.5 million promissory note initially, potentially increasing to $10 million, and an additional $8 million note upon completing certain activities. Brii Biosciences will also take control of VBI's Rehovot-based manufacturing facilities for $10 million cash after June 30, 2024, and will become VBI's commercial supplier for PreHevbrio and PreHevbri.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 6:29 am

ARKK

BEN

Cathie Wood, CEO of ARK Investment Management, anticipates that the SEC will only approve Bitcoin and Ethereum for crypto ETFs. ARK has partnered with 21Shares to launch a U.S.-based Ethereum ETF, following the approval of their Bitcoin ETF. Franklin Templeton also filed for an Ethereum ETF. Wood highlighted a shift from gold to Bitcoin, noting a stable, long-term view among cryptocurrency investors.

Portfolio Pulse from Mehab Qureshi

February 14, 2024 | 5:31 am

BA

GD

HON

ITA

LMT

PPA

XAR

The U.S. Senate passed a $95-billion aid package for Ukraine and Israel, with significant funds allocated for defense spending and humanitarian aid. The bill, facing opposition in the House, could impact defense stocks and ETFs like Lockheed Martin, Honeywell International, General Dynamics, Boeing, and aerospace & defense ETFs (ITA, PPA, XAR) due to the allocation of $13.8 billion for U.S. weapons and munitions purchases.

Portfolio Pulse from Natan Ponieman

February 13, 2024 | 11:00 pm

CSGP

CoStar Group has acquired a 552,000 square foot office building at 1201 Wilson Boulevard in Arlington, Virginia. The company will relocate its Washington, D.C. employees to this new location and benefit from nearly $7 million in tax and economic incentives. The terms of the purchase were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 10:59 pm

FMST

HYMC

METC

Ramaco Resources, Inc. (METC) forecasts a nearly 50% increase in Q4 2023 net income and a 25% rise in Adjusted EBITDA, with steady coal shipments and a record sales volume. The company also acquired a preparation plant to enhance efficiency. Hycroft Mining Holding Corporation (HYMC) begins its 2024 drilling program at the Hycroft Mine, targeting high-grade silver. Foremost Lithium Resource & Technology Ltd. (FMST) starts drilling at its Zoro Lithium Property, aiming for significant resource expansion.

Portfolio Pulse from Austin DeNoce

February 13, 2024 | 10:50 pm

ES

Eversource Energy has signed a definitive agreement to sell its 50% ownership in South Fork Wind and Revolution Wind to Global Infrastructure Partners. The deal will provide Eversource with approximately $1.1 billion in cash proceeds upon closing and allows it to exit these projects, albeit with some retained cost-sharing obligations for Revolution Wind's construction.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 10:46 pm

GAN

GAN Limited shareholders approved the merger with a subsidiary of SEGA SAMMY CREATION INC., with over 95% votes in favor. The merger, expected to close in late 2024 or early 2025, will result in GAN delisting from Nasdaq and becoming a private entity. Each GAN share will convert into $1.97 in cash, less applicable taxes.

Portfolio Pulse from Happy Mohamed

February 13, 2024 | 10:02 pm

SGML

Sigma Lithium (NASDAQ:SGML) has received a letter of intent from the Development Bank of Brazil (BNDES) for additional funding for its Grota do Cirilo lithium project in Brazil. The company plans to invest $100 million in a second processing plant to double its output. The project, which has received full environmental licensing, aims to become the world's fourth-largest lithium mining complex. Despite a recent downturn in lithium prices, Sigma remains optimistic about its strategic position and its focus on sustainable lithium production.

Portfolio Pulse from Stjepan Kalinic

February 13, 2024 | 9:56 pm

CPB

SOVO

Campbell Soup Company (CPB) and Sovos Brands, Inc. (SOVO) have announced their compliance with the FTC's Second Request, initiating a 30-day waiting period for Campbell's proposed acquisition of Sovos Brands. This period is expected to end on March 11, 2024, with the transaction likely to close shortly after. Both companies express optimism about the acquisition, highlighting the strategic fit and growth potential.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 9:56 pm