Streetbeat News

Bankruptcy

EGIO

Edgio Inc (NASDAQ:EGIO) has filed for Chapter 11 bankruptcy, causing its stock to plummet by 34% to $0.80. The company plans to sell its business while continuing operations, supported by a $110 million credit bid from Lynrock Lake Master Fund LP and $15.6 million in DIP financing.

Portfolio Pulse from Henry Khederian

September 10, 2024 | 5:48 pm

ALIM

AVO

BKYI

CDMO

CGNT

EGIO

U.S. stocks fell with the Dow down 1% as small business optimism declined in August. Notable stock movements included BIO-key International surging 88% on new orders, Mission Produce rising 21% on strong earnings, and Edgio dropping 34% after filing for Chapter 11.

Portfolio Pulse from Avi Kapoor

September 10, 2024 | 4:19 pm

AMZN

BKYI

EGIO

ORCL

US stocks showed mixed performance with the Nasdaq Composite gaining 0.5%. Oracle reported strong earnings and announced a partnership with Amazon's AWS. BIO-key shares surged 119% after securing new orders, while Edgio shares fell 26% after filing for Chapter 11. Energy shares declined, while communication services rose.

Portfolio Pulse from Avi Kapoor

September 10, 2024 | 1:51 pm

HOOD

FTX has filed a motion to settle a dispute over $600 million worth of Robinhood shares by paying $14 million to Emergent Fidelity Technologies. This settlement aims to resolve Emergent's bankruptcy case and facilitate FTX's reorganization efforts. The court will review the motion on October 22.

Portfolio Pulse from Murtuza Merchant

September 10, 2024 | 12:28 pm

BIG

OLLI

Big Lots' Chapter 11 bankruptcy filing presents a growth opportunity for Ollie's Bargain Outlet. Big Lots plans to sell its assets and close some stores, which could allow Ollie's to expand its store count and market share. Analyst Matthew Boss suggests Ollie's could benefit from Big Lots' store closures, potentially increasing its store count by 13.5% in the coming years.

Portfolio Pulse from Michael Juliano

September 09, 2024 | 10:50 pm

EGIO

Edgio Inc (NASDAQ:EGIO) shares plummeted 80% after the company filed for Chapter 11 bankruptcy to facilitate a business sale. Supported by Lynrock Lake Master Fund LP, Edgio entered a $110 million credit bid and secured $15.6 million in financing to maintain operations.

Portfolio Pulse from Henry Khederian

September 09, 2024 | 7:40 pm

EGIO

Edgio, Inc. has filed for Chapter 11 bankruptcy to facilitate a sale process, with Lynrock Lake Master Fund LP as the stalking horse bidder. Lynrock has agreed to acquire Edgio's assets through a $110 million credit bid. The process aims to ensure continued operations under new ownership.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 1:34 pm

EGIO

Edgio has filed for Chapter 11 bankruptcy and entered into a stalking horse asset purchase agreement as part of an in-court sale process. The company aims to continue operations and service delivery during this period.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 1:31 pm

BIG

Big Lots shares are declining following the announcement of a sale agreement with Nexus Capital and the initiation of a voluntary chapter 11 process.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 1:00 pm

BIG

Big Lots, Inc. (NYSE:BIG) has filed for Chapter 11 bankruptcy and agreed to sell its assets to Nexus Capital Management. The company aims to continue operations during the process and has secured $707.5 million in financing. The economic climate, marked by high inflation and interest rates, has pressured Big Lots, leading to this decision.

Portfolio Pulse from Shanthi Rexaline

September 09, 2024 | 7:01 am