Streetbeat News

Bankruptcy

AGIL

AGILW

The Bankruptcy Court has approved AgileThought Parties' and Stalking Horse Buyer's entry into an agreement on October 10, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 9:35 pm

ATHX

Athersys, Inc. (NASDAQ:ATHX) has reported interim analysis results of its MASTERS-2 clinical study with MultiStem in ischemic stroke, indicating that the current sample size of 300 patients is insufficient to achieve the primary endpoint. The company plans to conduct additional data analysis and pause enrollment of new patients. Athersys has also signed a Memorandum of Understanding (MOU) with HEALIOS K.K. for global ARDS license, which includes $1.5M to $4.5M near term payments and up to $150M in milestones. If Athersys is unable to secure a strategic transaction or adequate financing, it may have to file for bankruptcy protection.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 12:38 pm

FBYD

KBNT

NWLI

PEV

PRZO

SFT

The Dow Jones edged higher on Monday, while the NASDAQ and S&P 500 fell. Energy shares rose by 3.5%, while consumer discretionary shares fell by around 1.5%. ParaZero Technologies, Phoenix Motor, and National Western Life Group saw significant increases in their share prices. Shift Technologies announced it will file for Chapter 11 bankruptcy, causing its shares to drop by 87%. Kubient and Falcon's Beyond Global also saw decreases in their share prices.

Portfolio Pulse from Lisa Levin

October 09, 2023 | 4:27 pm

SFT

Shift Technologies Inc (NASDAQ:SFT) announced its intention to file for Chapter 11 bankruptcy protection and wind down its business. The company will use cash on hand and cash generated from inventory liquidation to support the closure of its operations. The decision follows unsuccessful attempts to raise capital and restructure the balance sheet.

Portfolio Pulse from Adam Eckert

October 09, 2023 | 1:35 pm

SFT

Shift Technologies has announced its intention to file a voluntary Chapter 11 bankruptcy petition, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 12:57 pm

SFT

Shift Technologies has announced its intention to file a voluntary Chapter 11 bankruptcy petition. This move is typically made to restructure the company's debts and obligations.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 12:53 pm

KBNT

MTEK

PRZO

RNA

SFT

Several stocks are moving in pre-market trading. Maris-Tech Ltd. (MTEK) shares rose 38% after the launch of Jupiter Drones. ParaZero Technologies Ltd. (PRZO) shares gained 27.6% after receiving authorization for drones to operate over populated areas. Avidity Biosciences, Inc. (RNA) rose 9.1% after disclosing positive AOC 1001 data. Shift Technologies, Inc. (SFT) fell 85% as it intends to file a voluntary Chapter 11 petition. Kubient, Inc. (KBNT) shares fell 21.2% after implementing a 36% reduction in the company's workforce.

Portfolio Pulse from Lisa Levin

October 09, 2023 | 12:20 pm

AGIL

AgileThought has announced that the U.S. Bankruptcy Court has imposed significant restrictions on trading in equity interests in the company and its affiliates.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:30 pm

TIO

Agri-Fintech Holdings, Inc., previously known as Tingo, Inc., has announced that the liquidation of the company and the resulting distribution is expected to begin in Q4 of 2023.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 5:48 pm

MKUL

Molekule Group and its subsidiary have filed for Chapter 11 bankruptcy, leading to a drop in the company's share prices.

Portfolio Pulse from Bill Haddad

October 04, 2023 | 7:55 pm