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Equity Actions

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

ONB

ONBPO

ONBPP

Old National Bancorp (ONB) announced a quarterly cash dividend of $0.14 per common share and dividends for its preferred stock, Series A (ONBPP) and Series C (ONBPO), along with a stock repurchase program of up to $200 million. The common stock dividend is payable on March 15, 2024, to shareholders of record as of March 5, 2024. The preferred stock dividends are payable on May 20, 2024, to shareholders of record as of May 5, 2024. The repurchase program is effective until February 28, 2025.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:14 pm

SMCI

Super Micro Computer, Inc. (SMCI) announced its intention to offer $1.5 billion in convertible senior notes due 2029, targeting qualified institutional buyers. The offering may include an additional $225 million if the initial purchasers exercise their option. The notes, maturing on March 1, 2029, will be senior, unsecured obligations, convertible under certain conditions. SMCI plans to use the proceeds for general corporate purposes and to fund capped call transactions to reduce potential dilution from the conversion of the notes. The company's stock price may be impacted by these transactions and the market activities of the option counterparties.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:11 pm

NVRO

Nevro Corp. has entered into a cooperation agreement with Engaged Capital, leading to the appointment of Kirt P. Karros to its board. This strategic move aims to enhance shareholder value and guide Nevro's future direction.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:58 pm

CPK

Chesapeake Utilities reaffirmed its EPS guidance for 2025 ($6.15-$6.35) and 2028 ($7.75-$8.00), and expects 2024 EPS to be between $5.33 and $5.45, aligning with estimates of $5.38. The company also continues to support its capital expenditure guidance for 2028, ranging from $1.5 billion to $1.8 billion, and affirms its 2024 capital expenditure guidance of $300 million to $360 million.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:54 pm

NXGL

NEXGEL, Inc. (NASDAQ:NXGL) announced a registered direct offering of 462,090 shares and warrants for 231,040 shares at $2.11 per share, with warrants exercisable at $4.00. The offering, led by insiders including management and the Board, aims to raise approximately $975,000 before expenses. The funds are intended for additional working capital and to strengthen the balance sheet, following capital expenditures and strategic acquisitions in 2023. Alere Financial Partners, LLC served as the exclusive placement agent.

Portfolio Pulse from Happy Mohamed

February 21, 2024 | 9:46 pm