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SPY

VGK

Bulgaria is nearing a deal to sell Russian-made nuclear reactors and other equipment to Ukraine for at least $650M. The U.S. could potentially be involved in financing the deal.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:19 pm

TTOO

T2 Biosystems has converted approximately 20% of its term loan with entities affiliated with CRG Servicing into its common stock and Series B convertible preferred stock.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 12:08 pm

RACE

Ferrari N.V. (RACE) has announced a cash tender offer on its outstanding €650,000,000 1.500 per cent. Notes due 27 May 2025. The company is inviting eligible holders to tender their Notes for purchase by the company for cash up to an aggregate nominal amount of €175,000,000.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 7:47 am

SPY

Federal Reserve's John Williams stated that there is still more work to be done with rates, implying potential future adjustments.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 8:25 pm

SPY

Federal Reserve's Williams stated that inflation expectations have been 'remarkably well anchored'. He also mentioned that the Fed still has work to do to balance demand and supply. He fully supported the Fed's decision to hold steady on rates at the June FOMC meeting.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 8:23 pm

ACT

Enact Holdings, Inc. (NASDAQ:ACT) has entered into a quota share reinsurance agreement, under which it will cede 13.125% of a portion of current and expected new insurance written for the period from January 1, 2023 through December 31, 2023. Since 2015, Enact has executed approximately $4.7 billion of Excess of Loss CRT transactions, including reinsurance coverage of approximately $2.9 billion with highly rated reinsurers.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 8:05 pm

MPW

Shares of Medical Properties Trust Inc (NYSE:MPW) have risen over 13% in the past month following a positive presentation at Nareit’s annual REITweek Investor Conference. The company announced it secured $1.4 billion in transactions, including hospital sales and loan repayments, covering its debt maturities for 2023 and 2024. This has increased investor confidence in the company's financial stability and its high dividend yield of 12%.

Portfolio Pulse from AJ Fabino

July 05, 2023 | 7:53 pm

SPY

The Federal Reserve's minutes reveal that some participants were in favor of or could have supported a 25 basis points increase in the target rate. However, almost all participants deemed it appropriate or acceptable to leave the target rate unchanged.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 6:02 pm

MELI

MercadoLibre Inc.'s (NASDAQ:MELI) shares fell by 2.75% over the past three months. The company's total debt stands at $4.83 billion, with long-term debt at $2.50 billion and current debt at $2.33 billion. After adjusting for $2.14 billion in cash-equivalents, the net debt is $2.69 billion. The company's debt-ratio is 0.34, indicating a moderate level of financial leverage.

Portfolio Pulse from Benzinga Insights

July 05, 2023 | 5:47 pm

ATAI

CMPS

HTGC

COMPASS Pathways (NASDAQ:CMPS) has secured a term loan agreement with Hercules Capital Inc. (NYSE:HTGC) for up to $50 million to fund its COMP360 Phase 3 program in Treatment-Resistant Depression (TRD). The initial data from the program is expected by summer 2024. Following the agreement, COMPASS drew an initial $30 million at closing on June 30. The remaining $20 million will be available in two tranches, subject to certain conditions. Hercules Capital had previously entered into a similar agreement with COMPASS’ partner, atai Life Sciences (NASDAQ:ATAI).

Portfolio Pulse from Lara Goldstein

July 05, 2023 | 5:20 pm