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SOFI

SoFi Technologies Inc (NASDAQ:SOFI) stock has experienced a significant downturn, not recovering from a recent $750 million debt offering. The stock's decline was further confirmed by a Death Cross signal on its price chart, indicating bearish investor sentiment. The stock has been fluctuating between $5 to $10, with a 25% drop already in 2024. Concerns include marketing expenses, stock volatility, and the implications of the debt offering. Analyst ratings remain pessimistic, with recent ratings from Wedbush and Piper Sandler showing little optimism.

Portfolio Pulse from Surbhi Jain

March 13, 2024 | 6:26 pm

EVA

Enviva's shares are trading lower, likely due to market volatility following the announcement of voluntary Chapter 11 bankruptcy proceedings. The company also announced a reduction of $1 billion in debt and secured $500 million in new financing.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 5:25 pm

AGRX

Agile Therapeutics' stock price increased following the announcement that the company has fully paid off its debt facility with Perceptive Advisors.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:29 pm

STWD

Starwood Property Trust, Inc. (STWD) announced a private offering of $400 million in unsecured senior notes due 2029 to finance green and/or social projects. The proceeds may also be used for general corporate purposes, including debt repayment. The offering targets qualified institutional buyers and non-U.S. persons, with the notes not initially registered under U.S. securities laws.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 12:21 pm

RXT

Rackspace Technology's shares dropped following the announcement of Q1 guidance below expectations and refinancing transactions.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 11:04 am

EVA

Enviva has initiated voluntary Chapter 11 proceedings as part of a pre-arranged restructuring plan aimed at reducing its debt by approximately $1.0 billion and securing $500 million in new financing. This move is intended to improve profitability and position the company for long-term success, while continuing its operations and transformation plan.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 5:59 am

VJET

Voxeljet AG (VJET) and Anzu have amended and restated an existing loan note and agreed on a new loan note, totaling over $8.7 million in financing. The funds will support Voxeljet's operational financing and the delisting and deregistration of its ADSs. The existing loan note's terms have been aligned with the new loan note, which is due for repayment by June 30, 2026, with provisions for earlier repayment under certain conditions.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 8:17 pm

APO

FNDA

LUMN

RXT

TXSS

Rackspace Technology Inc (RXT) is reportedly close to finalizing a $275M restructuring plan with its creditors, aiming to reduce its debt and reorganize repayment priorities. The deal includes a new cash influx and a debt exchange offer, with favorable terms for creditors involved in prior negotiations. Apollo Global Management Inc (APO), a primary investor, has not commented. The restructuring reflects broader trends among companies facing economic challenges. Rackspace's financial results are awaited on March 12, 2024, with an expected quarterly EPS loss. The company's financial health is underlined by its first-lien notes trading at significantly reduced values. RXT shares saw a 7.1% increase to $2.25 recently. Investors can also gain exposure through TXSS and FNDA ETFs.

Portfolio Pulse from Anusuya Lahiri

March 12, 2024 | 3:25 pm

BGXX

Bright Green Corp (NASDAQ:BGXX) has signed a $250M agreement with Dalsem Greenhouse Technologies BV to expand its drug production facility in New Mexico, adding 7M square feet of manufacturing space. The expansion, supported by $60M in financing, aims to enhance the production of Schedule I and II controlled substances, aligning with the 'Drugs Made in America' initiative. The project, benefiting from solar power and federal tax credits, positions Bright Green as a competitive, low-cost, carbon-neutral drug manufacturer in the U.S.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 3:02 pm

BEKE

FXI

Chinese regulators have requested large banks to increase their support for Vanke, a major real estate company in China. This move is part of broader efforts to stabilize the real estate sector in the country.

Portfolio Pulse from Charles Gross

March 12, 2024 | 9:08 am