Streetbeat News

Assets

NIO

NIO Inc. has announced a proposed offering of $1B in convertible senior notes, split equally between notes due in 2029 and 2030. The company plans to use the proceeds to repurchase a portion of its existing debt securities and to strengthen its balance sheet. The notes will be senior, unsecured obligations of NIO, and may be converted into cash, American Depositary Shares, or a combination of both.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:29 pm

ELUT

Elutia has announced the sale of its Orthobiologics business unit for cash proceeds of up to $35M. The transaction, which is expected to close in Q4, reflects the company's increasing strategic focus on its proprietary Drug-Eluting Biomatrix platform.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:10 pm

ADC

Agree Realty Corporation has promoted Nicole Witteveen to the position of Chief Operating Officer, effective immediately. Additionally, Edward Eickhoff has been appointed as the Executive Vice President of Asset Management.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:06 pm

PEGY

Pineapple Energy has announced a payment of $1.25 per Contingent Value Right (CVR) to CVR holders, following the merger with Communications Systems Inc. (CSI). The payment, which is not a taxable event, is a pro rata portion of proceeds from CSI's premerger assets. The payment is expected to commence by September 29, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:02 pm

CRM

Salesforce (NYSE:CRM) has outperformed the market over the past 10 years by 5.1% on an annualized basis, producing an average annual return of 15.19%. An investment of $100 in CRM stock 10 years ago would be worth $409.67 today.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 8:00 pm

PYPL

V

Blockchain Capital, a crypto-centric venture firm, has raised $580 million through two new funds, marking its largest fundraising effort to date. The company plans to use these funds to support crypto startups in various sectors. Notable investors in Blockchain Capital include Visa Inc. and PayPal Inc. The firm has historically invested in entities like Worldcoin, Kraken, and OpenSea. Despite regulatory challenges in the U.S., the firm remains committed to token investments.

Portfolio Pulse from Murtuza Merchant

September 18, 2023 | 7:46 pm

OKE

ONEOK (NYSE:OKE) has outperformed the market over the past 20 years, producing an average annual return of 9.91%. If an investor had bought $1000 of OKE stock 20 years ago, it would be worth $6,555.29 today. ONEOK currently has a market capitalization of $30.52 billion.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 7:30 pm

ICE

Intercontinental Exchange (NYSE:ICE) has outperformed the market over the past 15 years, producing an average annual return of 14.34%. If an investor had bought $1000 of ICE stock 15 years ago, it would be worth $7,636.27 today.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 7:30 pm

C

DB

HSBC

JPM

Citigroup Inc (NYSE:C) has launched Citi Token Services, a digital asset solution using blockchain and smart contract technologies for better cash management and trade finance. The service will convert customer deposits into digital tokens which can be transferred globally. The bank will depend on a private blockchain owned and managed by the bank. This follows similar moves by Deutsche Bank (NYSE:DB) and HSBC (NYSE:HSBC) who recently partnered with other companies for digital asset custody. JPMorgan Chase & Co (NYSE:JPM) is also developing a blockchain-based digital deposit token.

Portfolio Pulse from Khyathi Dalal

September 18, 2023 | 7:14 pm

ATAI

CYBN

MNMD

Billionaire Steve Cohen has invested nearly $19 million in Cybin Inc. (NYSE:CYBN) through his Point72 asset management firm, which now owns over 8% of Cybin's stock. This is Point72's first public position in a psychedelics company. In other news, billionaire Blake Mycoskie has updated on his $100 million pledge for psychedelics research, stating that he has already donated $11 million, including investments in MindMed (NASDAQ: MNMD), atai Life Sciences (NASDAQ:ATAI), and MAPS PBC.

Portfolio Pulse from Lara Goldstein

September 18, 2023 | 7:10 pm