Streetbeat News

Corporate Responsibility

THRX

Theseus Pharmaceuticals has announced that it is exploring strategic alternatives to enhance shareholder value. This process could include a sale, merger, divestiture, or other business combination. The company has not set a definitive timeline for this process and has not made any decisions related to strategic alternatives at this time. There is also no assurance that this process will result in any specific action.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:24 pm

AERT

Aeries Technology has appointed Rajeev Nair as its new Chief Financial Officer (CFO).

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:22 pm

NUVB

Nuvation Bio Inc. announced the resignation of CFO Jennifer Fox, effective November 27, 2023. Fox is leaving to gain experience with later stage development and commercial launches. The company's executive management and finance team will cover her duties. CEO David Hung expressed gratitude for Fox's contributions to the company.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:19 pm

LICY

Li-Cycle Holdings Corp. has engaged investment bank Moelis & Company to explore financing and strategic alternatives to enhance shareholder value. This could include a sale, merger, divestiture, or other options. The company's decision to seek strategic alternatives suggests it is looking to optimize its operations and financial structure amid the growing industry for battery recycling.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:17 pm

BAER

Bridger Aerospace has lowered its 2023 revenue guidance from $84M-$96M to $66M-$68M due to an unexpectedly short North American wildfire season. The company expects negative Adjusted EBITDA of $10M-$11M in Q4 2023 and has revised its full-year Adjusted EBITDA projection from $37M-$45M to $18M-$19M. Cost reductions are planned to mitigate the impact, with projected savings of $16M annually. Bridger's 2024 outlook anticipates Adjusted EBITDA of $35M-$51M on revenues of $70M-$86M, excluding the impact of acquiring Super Scoopers from the Spanish government.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:57 pm

LPTH

LightPath Technologies has postponed its Annual Meeting of Stockholders to evaluate remedial measures for procedural issues. The new meeting date is expected to be in January 2024.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:49 pm

FSR

Fisker Inc. has identified material weaknesses in its internal control over financial reporting. This disclosure could impact investor confidence and raise concerns about the reliability of the company's financial statements.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:44 pm

VTLE

Vital Energy has promoted Katie Hill to the position of Senior Vice President and Chief Operating Officer (COO), with the promotion effective from November 13, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:39 pm

EGLX

Enthusiast Gaming has appointed Felicia Dellafortuna as its new CFO, effective November 14, replacing Alex Macdonald.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:35 pm

MKFG

Markforged (MKFG) is maintaining its FY23 revenue guidance of $90M-$95M, which is below the estimated $105.49M. The company cites an uncertain macro environment and high cost of capital affecting customer purchases. Non-GAAP gross margins are expected to remain within 47%-48%. Markforged is focusing on profitable growth and has announced a reorganization to save $9-$12 million annually in opex starting in 2024, with one-time restructuring costs of about $0.9 million. The operating loss for the year is projected to be $59-$61 million, and the Non-GAAP EPS loss is expected to be $0.26-$0.28, including restructuring costs.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:34 pm