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ON

ON Semiconductor Corporation (NASDAQ:ON), known as onsemi, has advised its stockholders to reject an unsolicited mini-tender offer from TRC Capital Investment Corporation for up to 1.5 million shares at $70.75 each, which is below the market value. The offer price is approximately 4.4% lower than onsemi's closing share price on March 19, 2024. onsemi has emphasized that it is not affiliated with TRC Capital Investment and has cautioned its investors to consult with their financial advisors and exercise caution. The offer, representing about 0.35% of onsemi's outstanding shares, is set to expire on April 19, 2024, but may be extended by TRC Capital Investment.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 8:16 pm

INTC

Intel aims to achieve 60% non-GAAP gross margins and 40% non-GAAP operating margins by 2030 through significant cost savings, operational efficiencies, and asset value optimization, as stated by CFO Dave Zinsner. This strategy is expected to enhance Intel's cost competitiveness and drive financial growth.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 8:15 pm

ADPT

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) announced a strategic review update, preliminary Q1 2024 revenue of $41M-$43M, exceeding estimates of $38.21M, and a CFO transition. The review concluded with a decision to operate the MRD and Immune Medicine businesses internally with increased independence and dedicated resources. MRD revenue for Q1 2024 is expected to be $31M-$32M, a 47% increase from Q1 2023. Tycho Peterson will depart as CFO, succeeded by Kyle Piskel.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 8:12 pm

ADPT

Adaptive Biotechnologies announces the departure of CFO Tycho Peterson, who is leaving to pursue another opportunity. Kyle Piske will take over as the new CFO.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 8:11 pm

ONMD

OneMedNet announces that Aaron Green, previously President, has now taken on the additional roles of CEO and board member following the retirement of former CEO Paul Casey. Casey will continue to serve on the Board of Directors.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 8:10 pm

LUNG

Pulmonx Corporation (NASDAQ:LUNG) announced the appointment of Mehul Joshi as Chief Financial Officer, effective April 3, 2024. Joshi, with over 30 years of experience in finance and strategic planning, succeeds John McKune. His background includes roles at Gilead Sciences, ResMed Inc., and PhenomeX Inc., highlighting his capability to lead global finance teams and contribute to Pulmonx's growth strategies.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 8:09 pm

VIEW

View, Inc. (NASDAQ:VIEW) announced an agreement with Cantor Fitzgerald and RXR Realty for a financial restructuring to become a private company. This involves commencing prepackaged Chapter 11 cases, with the expectation of court approval within 45 days from April 2, 2024. The restructuring will cancel existing senior secured term loans and unsecured convertible notes, with holders receiving equity in the reorganized company. The process is supported by a Restructuring Support Agreement, representing a significant portion of the company's noteholders and term lenders. View expects its operations to continue normally during this period.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 8:08 pm

INTC

Intel has announced the appointment of Lorenzo Flores as CFO of Intel Foundry, starting April 8, 2024. Flores brings nearly 30 years of experience in the semiconductor and technology sectors, most recently serving as CFO of Xilinx. This appointment follows that of Mark Henninger as CFO of Intel Products, with both reporting to Zinsner.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 8:07 pm

INTC

Intel has introduced a new financial reporting structure aligned with its Foundry operating model for 2024 and beyond. The company provided recast financial results for 2023, 2022, and 2021, outlining a path for long-term growth and profitability of Intel Foundry. The new structure aims at improving financial performance and increasing shareholder value.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 8:06 pm

CMBM

Cambium Networks announces the appointment of Jacob Sayer as CFO, effective April 8, 2024. He will succeed John Becerril, who took over as acting CFO after Andrew Bronstein's departure in January 2024. John will continue as Cambium's Global Controller and principal accounting officer.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 8:02 pm