Streetbeat News

Assets

SOLUSD

USDTUSD

FTX-labelled addresses transferred 250,000 Solana (SOL) and $4 million in Tether (USDT) to Binance and Wintermute. Solana's price increased by 3% in 24 hours, with a 27% gain over seven days and 155% over the month. The market cap exceeded $20 billion. The transfers are part of FTX's bankruptcy proceedings, with $100 million in Solana moved to exchanges recently. Despite the selling, Solana's price has not been negatively impacted.

Portfolio Pulse from Khyathi Dalal

November 14, 2023 | 10:34 pm

BURU

NUBURU, Inc. (NYSE:BURU) has secured a $5.5 million bridge loan backed by its patent portfolio, preliminarily valued at $100 million. The zero-interest loan, with a 10% original issue discount, will mature upon securing long-term credit or within 12 months. The loan is part of NUBURU's strategy to support the commercialization of its blue laser technology. Warrants exercisable for common stock will be issued to the lenders, and the company plans to register the common stock underlying the warrants by February 1, 2024. Northland Capital Markets served as the placement agent for the institutional investor portion of the financing.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:27 pm

KKR

KKR's subsidiary Global Atlantic has sold its 33% minority stake in a portfolio of 26 solar facilities to APG of the Netherlands. The financial terms of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:20 pm

SHUA

SHUAA Partners Acquisition Corp I (NASDAQ:SHUA) announced it will dissolve and liquidate due to its inability to find a suitable target for a business combination. The company will not extend its deadline beyond November 4, 2023, and plans to cancel Class A ordinary shares on November 17, 2023. Shareholders will receive a pro rata portion of the Trust Account funds. Trading of SHUA's shares, units, and warrants will likely cease on November 16, 2023. There will be no redemption for warrants, and initial shareholders will not receive liquidating distributions unless they acquired Public Shares. Nasdaq will delist SHUA's securities, and the company will terminate its securities registration with the SEC.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:18 pm

GBTC

At Benzinga's Future of Digital Assets event, Bitwise's Matt Hougan highlighted the potential impact of a Bitcoin ETF, comparing it to the transformative effect of gold ETFs. Grayscale's Brooke Stoddard discussed the Grayscale Bitcoin Trust's evolution towards an ETF. WisdomTree's Ryan Louvar emphasized the diversification benefits of Bitcoin, and Invesco's Todd Kuehl spoke on regulatory challenges. The market has yet to fully price in the significance of a Bitcoin ETF approval.

Portfolio Pulse from Murtuza Merchant

November 14, 2023 | 9:57 pm

GM

Soros Fund Management LLC has increased its share stake in General Motors (GM) to 613,100 shares. This move by the investment firm, founded by George Soros, indicates a growing confidence in the automaker's stock.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 9:52 pm

RIVN

Soros Fund Management has dissolved its stake in electric vehicle manufacturer Rivian Automotive, Inc. This move by the prominent investment fund could signal a lack of confidence in Rivian's future prospects or a strategic portfolio realignment.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 9:49 pm

CAPR

Capricor Therapeutics announced that its available cash and equivalents are expected to cover expenses and capital requirements into 2025. This forecast takes into account the $23.0 million raised in a registered direct offering in October 2023 but does not include potential milestone payments from its agreements with Nippon Shinyaku or any unplanned strategic capital use.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 9:41 pm

VNRX

VolitionRx reported having cash and cash equivalents of $10.8 million as of September 30. This financial update provides investors with a snapshot of the company's liquidity and financial health at the end of the third quarter.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 9:20 pm

IR

Ingersoll Rand (NYSE:IR) has seen a 9.02% decrease in short interest since its last report, with 3.73 million shares sold short, representing 1.21% of its float. The average time to cover these short positions is 1.17 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. In comparison to its peers, Ingersoll Rand has a lower short interest as a percentage of float, with the peer group average at 3.55%.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 8:45 pm