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NKLA

Nikola Corp (NASDAQ:NKLA) shares are trading lower after the company announced an agreement to sell up to $325 million in aggregate principle amount of senior convertible notes. The company plans to close on approximately $125 million on Monday, with additional closings not exceeding $200 million. Nikola expects to generate net proceeds of approximately $124.5 million. The stock has seen increased selling pressure over the last month after a fire near its headquarters led to a voluntary recall of more than 200 vehicles.

Portfolio Pulse from Adam Eckert

August 21, 2023 | 1:02 pm

COIN

Coinbase Global, Inc. has announced the early tender results of its offer to purchase up to $150 million of its 3.625% Senior Notes due 2031. The company has also increased the Total Consideration and the Tender Consideration per $1,000 principal amount of Notes tendered and accepted for purchase to $675.00. The Tender Offer will expire on September 1, 2023. The company has engaged Citigroup Global Markets Inc. to serve as Dealer Manager for the Tender Offer.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 1:01 pm

KTB

Kontoor Brands Inc (NYSE:KTB) announced that its CFO, Rustin Welton, will retire and be succeeded by Joe Alkire, effective August 31, 2023. Alkire, who previously served as COO and CFO at BrüMate Inc, will be responsible for enterprise strategy, corporate development, financial planning and analysis, accounting, investor relations, tax, treasury, internal audit and IT. Welton will continue in an advisory role through the end of the year.

Portfolio Pulse from Shivani Kumaresan

August 21, 2023 | 12:58 pm

BTCUSD

DOGEUSD

ETHUSD

SHIBUSD

SOLUSD

XRPUSD

Billy Markus, co-creator of Dogecoin, shared his views on cryptocurrency investments and his favorite coins. He expressed his preference for Bitcoin and Ethereum, and humorously described Dogecoin as 'just bitcoin in a dog suit'. Markus also mentioned his aversion to ERC-20 tokens. The broader crypto market has seen a sharp decline over the last few days, with major cryptocurrencies like Ripple, Solana, Dogecoin, and Shiba Inu trading down significantly.

Portfolio Pulse from Murtuza Merchant

August 21, 2023 | 12:51 pm

MU

Micron Technology, Inc. (MU) has applied for federal funding to develop a memory manufacturing facility in Boise, Idaho. The move is part of the company's efforts to expand its manufacturing capabilities.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 12:46 pm

AREC

American Resources Corporation (NASDAQ: AREC) has expanded the executive team of its subsidiary, ReElement Technologies, with the appointment of Ben Wrightsman as President. Wrightsman, former CEO of the Battery Innovation Center, will work to expand the business geographically and through commercial partnerships. ReElement, a provider of high performance refining capacity of rare earth and battery elements, is currently scaling its first rare earth and critical element recycling facility in Noblesville, Indiana and evaluating additional sites for both standalone and co-located facilities.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 12:34 pm

KRYS

Krystal Biotech has sold its Rare Pediatric Disease Priority Review Voucher for $100M, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 12:22 pm

ESTE

PR

Permian Resources Corp (PR) has signed a definitive acquisition deal to buy Earthstone Energy Inc (ESTE) for around $4.5 billion, including ESTE's net debt. The acquisition will add over 400,000 Permian net acres to PR's assets and is expected to be accretive to FCF per share by over 30% annually in the next two years. PR also plans to raise the quarterly base dividend by 20% to $0.06 per share, starting Q1 2024. The deal is expected to close by year-end 2023.

Portfolio Pulse from Lekha Gupta

August 21, 2023 | 12:20 pm

MAC

Macerich Co (MAC) reported a 34% YoY increase in signed leases year-to-date, with 191 leases for 1.4 million square feet in Q2. Portfolio-wide occupancy rose to 92.6%, up 80 basis points YoY and 40 basis points QoQ. The company opened 263,000 square feet of new stores in Q2, a 20% increase YoY. However, Q2 sales of $212.37 million missed the estimate of $218.71 million, and FFO per share was $0.40, down from $0.46 a year ago.

Portfolio Pulse from Lekha Gupta

August 21, 2023 | 12:03 pm

GS

Goldman Sachs is considering selling a part of its wealth business, according to a Reuters report. The move is part of the bank's strategy to focus more on serving the ultra-rich.

Portfolio Pulse from Charles Gross

August 21, 2023 | 11:49 am