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RDFN

Redfin Corp has secured a commitment of up to $250M in financing from funds managed by Apollo Capital Management, L.P. and its affiliates, according to an SEC 8k filing.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 8:10 pm

BORR

Borr Drilling Limited (BORR) plans to offer $1.5 billion in senior secured notes due 2028 and 2030 through its subsidiary Borr IHC Limited. The company is also considering a private placement in Norway of approximately $50 million in shares. The proceeds from these offerings will be used to repay all of the company's outstanding secured borrowings. The pricing of the notes offering is expected on October 24, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 4:53 pm

AGFY

Agrify Corporation (NASDAQ:AGFY) has received a letter from Nasdaq stating that it is not in compliance with Nasdaq Listing Rule 5250(c)(1) due to not filing all required periodic financial reports with the SEC. This could result in the delisting of Agrify's securities from Nasdaq. Agrify intends to request a hearing before a Nasdaq Hearings Panel. The non-compliance is due to Agrify not filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and the Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2023 and June 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 4:33 pm

RIVN

Rivian Automotive Inc's shares have dropped by 12.7% over the past five sessions, influenced by Tesla's disappointing Q3 results and the rise in Treasury yields. The company's recent issuance of $1.5 billion in green convertible senior notes has raised concerns among investors due to the increased debt load. The notes offer a 3.625% annual interest rate, with semi-annual payments from 2024 and maturing in 2030. The proceeds will be used for environmentally friendly projects.

Portfolio Pulse from Henry Khederian

October 23, 2023 | 2:22 pm

TTOO

T2 Biosystems has announced an amendment and extension of its CRG term loan agreement. The interest-only period and maturity date have been extended from December 31, 2024, to December 31, 2025. The cash covenant has also been permanently reduced from $5M to $500,000.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 1:05 pm

BUKS

PLX

TGEN

Insiders at Tecogen Inc. (OTC:TGEN), Protalix BioTherapeutics, Inc. (NYSE:PLX), and Butler National Corporation (OTC:BUKS) have recently purchased shares in their respective companies. Tecogen announced a $1.5 million Credit Agreement, Protalix BioTherapeutics confirmed that its operations have not been affected by the current security situation in Israel, and Butler National disclosed the acquisition of KC Machine.

Portfolio Pulse from Lisa Levin

October 23, 2023 | 12:55 pm

FXI

China's parliament is set to approve the issuance of extra sovereign debt worth slightly over ¥1T on Tuesday, according to Reuters. This could potentially impact the iShares China Large-Cap ETF (FXI).

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 12:30 pm

ORA

Ormat has agreed to acquire contracted operating geothermal and solar assets in Nevada, Utah, and Connecticut for $271M. The acquisition is expected to close by the first quarter of 2024, subject to regulatory approvals and customary closing conditions. Ormat plans to finance most of the purchase price through new long-term corporate debt.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 11:31 am

AMZN

GOOGL

META

MSFT

TSLA

The new trading week is expected to face challenges due to earnings concerns, fears of rate hikes, and geopolitical tensions. Major corporations including Alphabet, Microsoft, Meta Platforms, and Amazon are set to release their earnings reports this week. Surging bond yields are expected to unsettle investors as the yield on the 10-year Treasury note has surpassed 5%. Last week, major stock indices experienced a decline due to robust economic data driving bond yields higher. The release of disappointing earnings reports, including that of Tesla, compounded concerns about corporate profit growth.

Portfolio Pulse from Shanthi Rexaline

October 23, 2023 | 11:27 am

BAC

GSK

MA

Several entities including Bank of America (BAC), Mastercard (MA), the NRA, GlaxoSmithKline (GSK), and others are lobbying for cannabis banking reform under the Secure and Fair Enforcement Regulation (SAFER) Banking Act. The Act aims to provide legal cannabis businesses access to banks and financial institutions. The Act has passed in the Senate Banking Committee and is expected to move to the full Senate and then to the House.

Portfolio Pulse from Maureen Meehan

October 22, 2023 | 6:21 pm