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Corporate Responsibility

HOPE

TBNK

Hope Bancorp, Inc. (HOPE) and Territorial Bancorp Inc. (TBNK) announced a definitive merger agreement, with Territorial shareholders to receive 0.8048 shares of Hope Bancorp stock for each share of Territorial stock, in a deal valued at approximately $78.6 million. The merger aims to create the largest regional bank serving multi-ethnic communities across the continental U.S. and Hawaii, preserving the Territorial Savings Bank brand and expanding the combined company's footprint, diversifying its loan mix, and enhancing its deposit base and customer services. The transaction is expected to close by the end of 2024, subject to regulatory and shareholder approvals, and is anticipated to be immediately accretive to Hope Bancorp's earnings.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 1:02 pm

BHP

VALE

Vale and BHP, along with their joint venture Samarco, have proposed a $25 billion settlement to Brazilian authorities for the 2015 Mariana disaster reparations. This amount includes $24.88 billion in new payments plus $37 billion reais already disbursed.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 12:39 pm

CDIO

Cardio Diagnostics announced the publication of results from a Budget Impact Modeling Study for PrecisionCHD, showcasing the potential cost savings and health benefits of their cardiovascular disease early detection technology. The study highlights the effectiveness of PrecisionCHD in reducing healthcare costs while improving patient outcomes through early diagnosis.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 12:34 pm

AMPS

Altus Power, Inc. (NYSE:AMPS) announced a CEO transition, with Lars Norell resigning as co-CEO and Gregg Felton appointed as the sole CEO, effective April 26, 2024. The company reaffirmed its full year guidance for 2024 and expressed confidence in Felton's leadership to drive long-term shareholder value. Altus Power's partnerships with CBRE and Blackstone were highlighted, emphasizing the company's role in reducing carbon footprints and securing efficient financing.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 12:33 pm

PRCT

PROCEPT BioRobotics presented outcomes of a post-market survey on Aquablation therapy for men in Japan with lower urinary tract symptoms due to benign prostatic hyperplasia at the JUA. The survey highlights the effectiveness and safety of the therapy.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 12:21 pm

STOK

Stoke Therapeutics, Inc. (NASDAQ:STOK) announced the appointment of Thomas Leggett as the new Chief Financial Officer, succeeding Stephen Tulipano. Leggett brings over two decades of experience in financial strategy and operations for life science companies. The company highlighted Tulipano's contributions, including leading Stoke's IPO and a $125M public offering. Stoke is advancing its growth phase, focusing on developing STK-001 for Dravet syndrome, transitioning to a late-stage clinical company.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 12:20 pm

PETS

PetMed Express, Inc. has appointed Sandra Campos as its new Chief Executive Officer and President, signaling a leadership change at the company.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 12:18 pm

GOOGL

META

MSFT

Meta Platforms Inc.'s Chief AI Scientist, Yann LeCun, revealed that CEO Mark Zuckerberg was 'snubbed' from the Biden administration's new AI Safety Institute, which also excluded Elon Musk. The board, led by U.S. Secretary of Homeland Security Alejandro Mayorkas, includes tech leaders like OpenAI's Sam Altman, Microsoft's Satya Nadella, and Alphabet's Sundar Pichai, aiming to advise on the responsible development and deployment of AI technologies.

Portfolio Pulse from Rounak Jain

April 29, 2024 | 12:17 pm

FEAM

5E Advanced Materials, Inc. (FEAM) announced the first production of boric acid and an extension of the waiver for its cash covenant on senior secured convertible notes. The production marks a significant step in establishing a U.S.-based boron supply chain. The waiver extension allows more financial flexibility until December 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 12:13 pm

SEEL

Seelos Therapeutics, Inc. (NASDAQ:SEEL) announced a strategic focus on mental health initiatives, including updates on potential partnerships and collaborations. Richard Pascoe has been appointed as Chairman of the Board to lead these efforts. The company is in discussions for a potential collaboration in the mental health space, leveraging its ketamine expertise with SLS-002 for suicidality and involvement in a PTSD study. Seelos aims to create a leading mental health company and increase shareholder value but will not comment further until a decision is made.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 12:11 pm