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PCT

PureCycle Technologies reported mechanical issues at its Ironton, Ohio purification facility, which had restarted after a November outage. The facility was shut down safely with no further damage, and maintenance is in progress. The company will use a 90-day cure period as it will not meet the December 31, 2023, operational milestone for its Ironton bonds.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 12:54 pm

KKR

KKR & Co Inc (NYSE:KKR) has acquired a $7.2 billion super-prime RV loan portfolio from BMO Bank National Association, a part of BMO Financial Group. BMO will continue to service the loans and manage RV loan origination. BMO also purchased $6.4 billion in senior notes backed by the loans. The acquisition aligns with KKR's Asset-Based Finance strategy and adds diversification to its credit portfolio. KKR has $47 billion in ABF assets and a team of over 50 professionals. The investment was made through KKR's credit funds and accounts, with Kennedy Lewis Investment Management LLC also participating. KKR's AUM increased by 6% Y/Y to $528 billion in Q3, with $14 billion in new capital raised.

Portfolio Pulse from Lekha Gupta

December 18, 2023 | 12:44 pm

FSV

FirstService Corporation (NASDAQ:FSV) has acquired Roofing Corp of America for $413M, expanding its property services portfolio. Roofing Corp, with $400M in annual revenues and higher margins than FirstService's average, operates across 11 states with over 900 employees. The deal is funded by cash and credit facility, which has a $1.25B capacity after a recent expansion.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 12:34 pm

PSTV

Plus Therapeutics announced receiving an award payment of $3.3M, which, along with its existing cash, is expected to fund operations until the second half of 2025. The company also anticipates an additional $6.9 million in grant revenue in 2024.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 12:21 pm

VGZ

Vista Gold Corp. has received a $3 million installment from Wheaton Precious Metals as part of a $20 million royalty agreement for the Mt Todd gold project. The funds will be used to advance the project and for corporate purposes, with further payments expected in the first half of 2024 pending Australian government approval.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:43 am

EBIX

Ebix, Inc. has entered into a 'stalking horse' agreement to sell its North American life and annuity assets to Zinnia, a business under Eldridge. This move is part of Ebix's recapitalization strategy.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:15 am

FREY

FREYR Battery has been invited by the U.S. Department of Energy to submit a Part II loan application for its Giga America project under the DOE Title 17 program. This invitation is a step forward in securing funding for the project, which aims to scale up battery production.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:12 am

ORLA

The Panamanian Ministry of Commerce and Industry has denied extension requests for three mining concessions that make up Orla Mining's Cerro Quema Project. The concessions have been canceled, and the area is now designated as a reserve area.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:08 am

IBM

SWDAF

IBM has agreed to acquire StreamSets and webMethods from Software AG for €2.13 billion (~$2.3 billion) in cash to enhance its AI and hybrid cloud capabilities. The acquisition, funded by IBM's cash on hand, is expected to complete in Q2 FY24. IBM's cash and marketable securities stood at $11 billion at the end of Q3. The deal aims to integrate these platforms with IBM's watsonx AI and data platform, driving innovation and preparing businesses for AI.

Portfolio Pulse from Lekha Gupta

December 18, 2023 | 10:47 am

DOGE-USD

ETH-USD

MATIC-USD

Polygon Labs has ceased development on Polygon Edge, the open-source tool used for Dogechain development, shifting focus to Polygon CDK, a new blockchain framework utilizing zero-knowledge cryptography. This move may impact Dogechain's operations and future, as it relied on Polygon Edge, but many projects are expected to transition to the new Polygon CDK.

Portfolio Pulse from Mehab Qureshi

December 18, 2023 | 9:12 am