Streetbeat News

Corporate Responsibility

XXII

22nd Century Group, Inc. (NASDAQ:XXII) has agreed to sell its GVB Biopharma hemp/cannabis operations to Specialty Acquisition Corporation for $2.25 million. The deal includes a $1 million payment at closing and a $1.25 million secured promissory note. The sale aims to reduce cash and operating demands, with 22nd Century expecting to lower operating expenses beyond the $15 million in annual cost savings already announced. The company will retain rights to insurance proceeds from a fire at its Grass Valley facility, with damages sought at approximately $9 million. The sale is set to close in early December 2023, pending customary conditions and financing for the buyer. 22nd Century is also exploring strategic alternatives for its tobacco assets, including its FDA-approved VLN reduced nicotine content products.

Portfolio Pulse from Nina Zdinjak

November 28, 2023 | 2:35 pm

VTEX

VTEX has been chosen by Hearst to power its ecommerce businesses, aiming to transform the buying experience across its media platforms. The VTEX Commerce Cloud will enable Hearst to create a unified shopping experience for its 165 million monthly users. The platform's native capabilities and flexibility were key factors in Hearst's decision. Valtech will assist in the digital transformation, which is central to Hearst's strategy for the digital economy.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 2:34 pm

BCC

Boise Cascade has announced a curtailment of its lumber operations in Chapman, Alabama, which will impact approximately 80 positions. However, the plywood operations at the Chapman facility are not affected by this curtailment.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 2:34 pm

AMZN

INFA

Informatica (NYSE:INFA) announced new integrations with Amazon Web Services (AWS) at AWS re:Invent 2023, highlighting their growing collaboration. These integrations include support for Amazon Bedrock, a generative AI service, AWS HealthLake for healthcare data management, and Amazon S3 Access Grants for data lake permission management. The enhancements aim to provide trusted data for analytics and AI workloads, improve healthcare outcomes, and simplify data access with governance. Yamaha Motor Finance endorses the benefits of these integrations for data management and AI solutions.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 2:26 pm

SPT

Sprout Social, a provider of social media management software, has achieved ISO/IEC 27001:2013 and ISO/IEC 27701:2019 certifications for its information security and privacy management systems. These certifications, verified by third-party auditors, affirm the company's commitment to data security and privacy. Earlier, Sprout Social earned 138 badges in G2's 2023 Fall Reports and is the top-ranked product in social media management on G2.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 2:12 pm

STER

Sterling Check Corp. (NASDAQ:STER), a leading provider of identity and background services, announced the rebranding of Sterling RISQ to 'Sterling' in the Asia Pacific region. This rebranding is accompanied by technology enhancements aimed at delivering superior global background screening and identity programs. The company's local expertise in APAC, combined with its global reach and technology, aims to provide fast and scalable screening programs. Sterling sees growth opportunities in global hiring and aims to unify the global experience for clients, with 15% of its revenues generated outside the U.S.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 2:08 pm

SPRC

SciSparc Ltd. (NASDAQ:SPRC), a clinical-stage pharmaceutical company, has adopted a limited duration shareholder rights plan to protect shareholder interests and prevent control or significant influence by entities through open-market accumulation without fair compensation. The Rights Plan is not a response to a specific takeover threat but aims to give the Board time to make informed decisions. Rights become exercisable if an entity acquires 10%+ of shares without Board approval, allowing other shareholders to buy shares at $0.001. The plan expires on November 27, 2024, and Meitar Law Offices is the legal counsel.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 2:06 pm

ATNF

180 Life Sciences is reviewing strategic alternatives to enhance shareholder value. The company has not set a timeline for the completion of this review process.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 2:04 pm

NEWT

NewtekOne, Inc. (NEWT) has announced the hiring of Ms. Jennifer Merritt as Chief Operating Officer of digital banking operations for its subsidiary, Newtek Bank, N.A., effective November 27, 2023. Merritt brings over a decade of experience in digital banking and product development, having previously worked at Live Oak Bank, First Bank, and Wells Fargo. The company expects her leadership to transform its deposit-raising success into more and lower-cost transactional depository accounts, and to continue growing commercial bank deposits from independent business owners in 2024.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 1:36 pm

APYX

Apyx Medical Corporation has announced the appointment of Matthew Hill as its new Chief Financial Officer. This strategic move could signal a strengthening of the company's financial leadership, which may positively influence investor confidence and potentially impact the company's financial strategies and reporting.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 1:35 pm