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BLK

BlackRock Inc plans to expand its Voting Choice program to its largest ETF, the iShares Core S&P 500 ETF (IVV), subject to iShares Board approval. The expansion is expected to be in effect for the 2024 proxy voting season. This move will allow over three million IVV shareholder accounts and more than half of BlackRock's index equity AUM to participate in Voting Choice.

Portfolio Pulse from Akanksha Bakshi

July 17, 2023 | 1:01 pm

BLK

COIN

NDAQ

The U.S. Securities and Exchange Commission (SEC) is seeking public input on five Bitcoin ETF applications, including ARK 21Shares Bitcoin ETF by Ark Invest, and ETFs from Wise Origin, WisdomTree, VanEck, and Invesco Galaxy. The SEC also called for comments on the iShares Bitcoin Trust by BlackRock Inc, which was submitted on Nasdaq. In related news, Coinbase shares surged up to 16% last week after striking a deal with Cboe's BZX Exchange regarding the ETF applications.

Portfolio Pulse from Murtuza Merchant

July 17, 2023 | 12:54 pm

LGND

NOVN

Novan has entered into an agreement to sell substantially all of its assets, including Berdazimer Gel, 10.3% (Sb206), and has filed for Chapter 11 protection. Ligand has committed to fund $15M in debtor-in-possession financing.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 12:48 pm

SGBX

Safe & Green Holdings Corp. (NASDAQ:SGBX) provided an update on its Magnolia Residential project, which is now in the architectural and engineering design phase. The company is exploring various funding options and expects to generate $130M of inter-company revenue from the project. The project is expected to significantly increase the asset base and future cash flow of SG DevCo, a subsidiary of Safe & Green Holdings.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 12:32 pm

AMG

Pathstone Family Office is set to acquire 100% of the outstanding equity interests in Veritable from Affiliated Managers Group, Inc. (AMG). The acquisition, which will bring in cash proceeds of approximately $294M for AMG, will add over $17 billion in assets across 200 clients to Pathstone's portfolio, increasing its Assets under Advisement & Administration to over $100B. The deal strengthens Pathstone's position as the largest independent Registered Investment Advisor focused on the ultra-high net worth segment.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 12:04 pm

CRSR

Corsair Gaming Inc. (CRSR) is set to acquire assets from Drop, a community-driven commerce platform. The terms of the deal were not disclosed. This acquisition is expected to further expand Corsair's peripherals business.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 12:04 pm

MIRM

TVTX

Mirum Pharmaceuticals has agreed to acquire Travere Therapeutics' bile acid product portfolio for $445 million. The deal includes all rights and assets related to Cholbam® and Chenodal®. Travere will receive $210 million upfront and up to $235 million in potential sales-based milestones. Mirum will fund the upfront payment through a concurrent private placement of $210 million. The acquisition expands Mirum's leadership in rare liver disease treatment and advances Travere's strategy to deliver new treatment standards from its pipeline of innovative medicines for rare diseases.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 12:01 pm

BTCUSD

ETHUSD

Binance has integrated the Bitcoin Lightning Network on its platform for BTC withdrawals and deposits. This comes three months after Binance temporarily halted BTC withdrawals due to network congestion. The Lightning Network is a development aimed at enhancing the speed and cost efficiency of Bitcoin transactions. Coinbase CEO Brian Armstrong had previously indicated his intention to integrate the Bitcoin layer 2 network on Coinbase.

Portfolio Pulse from Mehab Qureshi

July 17, 2023 | 11:52 am

ID

PARTS iD, Inc. (NYSE:ID) has announced two new funding agreements that will provide the company with $7.0 million in immediate proceeds. The first agreement is a $3.75 million investment by Lind Global Partners II, LP, a fund managed by The Lind Partners. Two company insiders, including CEO Lev Peker, and one external investor co-invested an additional $3.25 million. The funds will be used to repay and retire outstanding debt owed to JGB Capital and for general working capital needs.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 11:35 am

BTCUSD

Gary Vaynerchuk, also known as Gary Vee, compared Bitcoin (BTC) with non-fungible token (NFT) projects in 2021, stating that while Bitcoin has limitations, the NFT sector has endless possibilities. He also mentioned that the crypto and NFT markets are currently in an economic correction. If an investor had invested $100 in Bitcoin when Vaynerchuk made his statement, their investment would have grown to $144, a 44% increase in value. Currently, Bitcoin is trading at $30,287.

Portfolio Pulse from Mehab Qureshi

July 17, 2023 | 11:31 am