Streetbeat News

Equity Actions

LYFT

Lyft has announced a private offering of $400 million in convertible senior notes. This move is aimed at raising capital, potentially for expansion, debt reduction, or other corporate purposes. The offering could lead to dilution of existing shares but also provides Lyft with a flexible financing option.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:56 pm

ATHE

Alterity Therapeutics has requested an immediate trading halt of its shares pending an announcement related to a capital raise. This move indicates a significant financial activity that could impact the company's stock price once trading resumes.

Portfolio Pulse from Charles Gross

February 21, 2024 | 10:43 pm

PSN

Parsons Corporation (NYSE:PSN) plans to offer $700 million in convertible senior notes due 2029, with an option for initial purchasers to buy an additional $100 million. The notes, accruing interest semiannually, are convertible under certain conditions and may be settled in cash or Parsons' stock. Proceeds will fund capped call transactions, repurchase existing convertible notes due 2025, and support general corporate purposes including potential acquisitions. Market activities related to this offering and capped call transactions may impact Parsons' stock price and the notes' initial conversion price.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:39 pm

BROS

Dutch Bros is undertaking a large-scale organizational design initiative, moving certain positions to its Phoenix, Arizona office. This move is expected to cost $24 to $31 million, with an additional $6 to $10 million in capital expenditures for the Arizona office expansion. By January 1, 2025, about 40% of the support center staff will be located in Arizona.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:37 pm

NR

The board of Newpark Resources, Inc. (NR) has approved a new stock repurchase program authorizing the company to buy back up to $50 million of its shares. This move is aimed at returning value to shareholders and reflects the company's confidence in its financial health and future prospects.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:34 pm

NTR

Nutrien's board has authorized the repurchase of up to 5% of its outstanding common shares over the next 12 months through a Normal Course Issuer Bid.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:32 pm

BRAC

Broad Capital Acquisition Corp. (BRAC) has deposited $60,000 into its trust account to extend the deadline for its initial business combination to March 13, 2024. This extension, costing $0.035 per public share, is the second of up to twelve monthly extensions allowed by the company's charter.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:31 pm

FLFV

Feutune Light Acquisition Corporation (FLFV), a blank check company, has announced an extension for completing its initial business combination to March 21, 2024. To facilitate this extension, $100,000 has been deposited into its Trust Account. This move allows the company additional time, extending the deadline from the previous date of February 21, 2024, and can extend monthly until the new deadline or an earlier date as decided by its board.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:31 pm

CHRD

ERF

Chord Energy Corporation (CHRD) and Enerplus Corporation (ERF) announced a definitive arrangement to combine in an $11 billion transaction, creating a premier Williston Basin-focused E&P company. The combined entity will have 1.3 million net acres, 287,000 Boepd production in 4Q23, and is expected to generate significant free cash flow and shareholder returns. The deal, comprising 90% stock and 10% cash, will see Chord shareholders owning 67% and Enerplus shareholders 33% of the new company. The merger aims to enhance operating scale, drive returns, and achieve cost synergies up to $150 million annually, with a post-transaction return of capital at 75%+ of free cash flow.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:26 pm

KTOS

Kratos Defense & Security Solutions, Inc. (KTOS) has announced a proposed public offering of $300 million of its common stock. This move is aimed at raising capital, potentially for growth initiatives, debt reduction, or other corporate purposes. The offering's success and the use of proceeds could impact the company's financial health and strategic direction.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:22 pm