Streetbeat News

Equity Actions

SVMH

Srivaru Holding has filed for an offering of up to 9.8 million ordinary shares by the selling securityholders, as indicated in their F-1 filing.

Portfolio Pulse from Charles Gross

February 06, 2024 | 11:07 am

ARCB

ArcBest's board of directors has increased the authorization for its share repurchase program to $125 million. In 2023, the company repurchased 930,754 shares for $91.5 million and paid $11.5 million in dividends.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 11:04 am

CHKP

Gil Shwed, the founder and CEO of Check Point Software, announced the initiation of a succession process to hire a new CEO. Shwed plans to transition to the role of Executive Chairman, focusing on charting the future of Check Point and the cybersecurity market.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 10:39 am

IMMX

Immix Biopharma has priced a public offering of 5,535,055 shares at $2.71 each, aiming to raise approximately $15 million. The funds are intended for NXC-201 clinical trials, working capital, and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 8:38 am

HESM

Hess Midstream LP (HESM) announced the pricing of a secondary offering of 10M Class A shares by an affiliate of Global Infrastructure Partners, generating $331M in gross proceeds. The underwriter has a 30-day option to buy up to 1.5M additional shares.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 8:30 am

BREA

Brera Holdings PLC (NASDAQ:BREA), an Italian football team that IPO'd on Nasdaq, has filed a Form F-3 shelf registration with the SEC to support its global expansion and acquisition strategy. This move aims to acquire and integrate football teams worldwide, enhancing shareholder value and promoting the sport's international development.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 8:18 am

UBS

UBS plans to repurchase up to $1 billion of its shares in 2024, following the completion of its merger with Credit Suisse AG. This follows a $1.3 billion share buyback in 2023, before the acquisition announcement. UBS aims for future repurchases to exceed pre-acquisition levels.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 6:21 am

HTZ

PSNY

Hertz Global Holdings Inc (NASDAQ:HTZ) has paused its procurement of Polestar vehicles amid a fleet restructuring, aiming to downsize its EV fleet. The decision follows an agreement with Polestar to waive Hertz's purchase requirements for 2024, with Hertz committing not to sell its existing Polestar EVs prematurely. The partnership, announced in 2022, initially involved Hertz purchasing up to 65,000 EVs from Polestar over five years. However, due to higher repair costs for EVs, Hertz is scaling back its EV fleet, affecting its timeline for achieving a 25% electric fleet by the end of 2024. Hertz has begun selling Tesla vehicles from its fleet, with plans to sell about 20,000 EVs this year. Following the news, Polestar's shares fell 7.3%, and Hertz's shares dropped 5.6%.

Portfolio Pulse from Anan Ashraf

February 06, 2024 | 5:17 am

DIS

MTSFY

OLCLY

Elliott Management, an activist investor, has acquired a 2% stake in Mitsui Fudosan (OTC:MTSFY) and is pressuring the company to sell its shares in Oriental Land (OTC:OLCLY), the operator of Tokyo Disney Resort. Elliott proposes using the sale proceeds for a $6.7 billion share buyback to improve Mitsui Fudosan's return on equity. This move is part of Elliott's broader strategy to influence Japanese companies, similar to its past involvement with companies like SoftBank Group and Toshiba.

Portfolio Pulse from Benzinga Neuro

February 06, 2024 | 3:00 am

FDMT

4D Molecular Therapeutics has filed for a mixed shelf offering, although the size of the offering has not been disclosed. This move allows the company to sell various types of securities over time, providing flexibility in financing its operations or growth initiatives.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 9:42 pm