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GBNH

Greenbrook TMS Inc. (NASDAQ:GBNH) has entered into a note purchase agreement with Greybrook Health Inc. and affiliates of Madryn Fund Administration, LLC, issuing $2 million of unsecured subordinated convertible promissory notes. The notes bear interest at a rate consistent with the company's credit facility with Madryn and mature on March 31, 2028. The proceeds are expected to be used for general corporate and working capital purposes. The company is also considering additional near-term financing options to address its future liquidity needs.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 1:06 pm

ASTS

AST SpaceMobile Inc (NASDAQ:ASTS) reported a Q2 earnings loss of 24 cents per share, missing estimates. The company raised up to $179 million in cash and liquidity during the quarter, ending with $191.5 million. AST SpaceMobile also announced that it received multiple indications of interest for strategic investment and that one of its subsidiaries secured a loan credit agreement of up to $100 million. The company's shares were up 7.31% following the announcement.

Portfolio Pulse from Adam Eckert

August 15, 2023 | 12:39 pm

BABA

FXI

JD

KWEB

Alibaba Group Holding Limited (BABA) and JD.com Inc (JD) stocks are trading lower as China releases data showing a weak economy and deepening property-sector issues. China's central bank cut the interest rate on its one-year medium-term lending facility (MLF) loans to 2.5%, injecting additional liquidity. However, fear of contagion risks in the property and finance sectors diluted the impact of the rate cut. Scion Asset Management exited its stakes in Alibaba and JD.com in Q2. Chinese ETFs, including IShares China Large-Cap ETF (FXI) and KraneShares Trust KraneShares CSI China Internet ETF (KWEB), are also trading lower.

Portfolio Pulse from Anusuya Lahiri

August 15, 2023 | 12:27 pm

FTK

Flotek has entered into an asset-based loan agreement of up to $10 million. The company has not disclosed the terms of the agreement.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 9:17 pm

BHR

B. Riley Securities analyst Bryan Maher downgraded Braemar Hotels & Resorts Inc. (NYSE:BHR) to Neutral from Buy, lowering the price target from $7.00 to $3.50. The downgrade is due to concerns about the company's prolonged RevPAR softness at many of its luxury resort hotels and uncertainty surrounding its remaining 2024 debt maturities. The analyst also lowered FY23, FY24, and FY25 adjusted EBITDA estimates.

Portfolio Pulse from Nabaparna Bhattacharya

August 14, 2023 | 7:43 pm

GREE

Greenidge Generation has completed the expansion of its South Carolina mining facility to 44 MW. The company plans to eliminate its remaining $22M of secured debt by selling the mining site to NYDIG. Greenidge expects to receive $4.9M in cash, less certain costs, with the potential to earn up to $2.6M in additional cash in bonus payments. The current hosting agreement has been amended for Greenidge to host additional NYDIG miners with the additional 26 MW of capacity until the sale closes.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 7:07 pm

ENVB

Enveric Biosciences (NASDAQ:ENVB) reported its Q2 2023 financial results, showing a decrease in cash and cash equivalents, increased R&D and G&A expenses, and a net loss attributable to shareholders. The company's management has raised doubts about its ability to continue operations in the next year due to further anticipated losses and no revenue generation. To alleviate these conditions, the company plans to reduce spending, manage cash flow, advance its programs, and raise additional working capital. If unable to raise enough capital, it may cut costs by delaying or discontinuing certain activities at its research facility.

Portfolio Pulse from Lara Goldstein

August 14, 2023 | 6:58 pm

MNMD

MindMed (NASDAQ:MNMD) has secured a $50 million senior secured credit facility with K2 HealthVentures. The new financing source, along with its latest cash position, is expected to fund operations into 2026. The credit facility matures on August 1, 2027. The deal strengthens MindMed's balance sheet and provides additional operational and strategic flexibility as it enters a clinical period for MM-120 (LSD) and MM-402 (R-MDMA).

Portfolio Pulse from Lara Goldstein

August 14, 2023 | 6:45 pm

MPW

RBC Capital Markets analyst Michael Carroll has lowered the price target for Medical Properties Trust Inc (MPW) from $12 to $10 and added a Speculative Risk qualifier to the Outperform rating. This follows MPW's Q2 FY23 results, which missed estimates. Carroll also expects a 35% dividend cut to $0.75 per share and a $60 million rent cut in Q1 FY24. He believes MPW can address its liquidity issues by improving collections and will need to address $1.4 billion in debt maturities in Q1 2025.

Portfolio Pulse from Lekha Gupta

August 14, 2023 | 6:29 pm

UBS

UBS has agreed to pay $1.44 billion to settle a Department of Justice (DOJ) case related to the financial crisis era. The settlement resolves allegations that UBS misled investors about the quality of mortgage-backed securities leading up to the 2008 financial crisis.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 5:26 pm