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Fractyl Laboratories announced that its current cash reserves, totaling $33.2 million, along with approximately $100.3 million expected from IPO proceeds, will extend its cash runway through 2025. This financial stability is crucial for the company's ongoing and future operations.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:25 am

DGHI

Digihost Technology Inc. (DGHI) reported a 60% increase in its cash and cryptocurrency holdings in March 2024, reaching $6.2 million, up from $3.9 million in January 2024. Despite a 2% decrease in daily BTC mining and a 5% increase in BTC mining difficulty, the company mined approximately 91 BTC in March. The increase in holdings is attributed to the rise in cryptocurrency prices, with BTC valued at $71,200 by the end of March.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:17 am

CLSK

CleanSpark announced its Bitcoin mining update for March 2024, revealing it mined 806 Bitcoin, a 24% increase from February. The company's total Bitcoin holdings have now reached 5,021.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:10 am

GES

Guess? Inc. has issued approximately $12.1 million of new 3.75% convertible notes due in 2028 and has retired about $14.6 million of its existing 2.00% convertible notes due in 2024. This financial maneuver is aimed at restructuring the company's debt and potentially improving its financial flexibility.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:09 am

QNCX

Quince Therapeutics reported a strong cash position of $75.1M as of December 31, 2023, which is expected to fully fund its lead asset, EryDex, through Phase 3 NEAT topline results and prepare for a potential NDA submission in 2026. The company is also exploring strategic partnerships to out-license EryDex in ex-U.S. regions to extend its operational runway.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:08 am

UIS

Unisys (NYSE:UIS) has finalized agreements with F&G Annuities & Life, Inc. to transfer $200M of its US defined benefit pension obligations through the purchase of group annuity contracts. This move, affecting around 3,800 retirees, will incur a one-time, non-cash, pre-tax settlement charge of $129M for Unisys in Q1, with no impact on its cash position.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:05 am

CLSK

CleanSpark Inc. (NASDAQ:CLSK) reported a 24% increase in Bitcoin mined in March compared to February, totaling 806 Bitcoin. This brings their total Bitcoin holdings to 5,021. The company attributes this growth to the full operation of its Sandersville expansion and new sites in Mississippi, pushing its hashrate over 16 EH/s. CleanSpark also highlighted its strong financial position, with over $300 million in cash, and plans to be an active participant in the upcoming merger and acquisition season within the industry.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:03 am

GEO

The GEO Group has initiated a refinancing process for its Tranche 1 and Tranche 2 Term Loans, with $906.7M outstanding as of December 31, 2023. The company aims to secure $1.6 billion in financing and a $310.0 million revolving credit facility to repay existing debts and for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:58 am

ONB

Old National Bancorp has completed its merger with CapStar Financial Holdings, Inc., making it one of the top 30 U.S. banking companies with approximately $52 billion in assets. CapStar Bank will operate as a division of Old National Bank until the banking centers and systems conversions are completed in Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:56 am

THC

Tenet Healthcare has successfully completed the sale of six hospitals and their related operations in California, in line with the terms that were previously disclosed. This move is part of Tenet's strategic repositioning and focus on optimizing its portfolio for better financial and operational performance.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:46 am