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Equity Actions

WINT

Windtree Therapeutics, Inc. (WINT) has reached an agreement with Deerfield Management Company to eliminate a $15M contingent liability related to milestone payments for AEROSURF®. In return, Windtree will issue 608,272 shares of common stock and make two $100,000 cash payments to Deerfield. The company believes this strengthens its financial position and simplifies its balance sheet. Windtree's lead asset, istaroxime, is in clinical trials for cardiogenic shock and acute heart failure, with a new license agreement with Lee's Pharmaceuticals.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:40 pm

ESAC

ESGEN Acquisition Corp. (ESAC) and Sunergy Renewables have announced updated terms for their pending business combination. The revised terms include a commitment from ESGEN's sponsor to purchase up to $15 million in Convertible Preferred Equity Securities, with $10 million funded at closing and an option for an additional $5 million within six months. The pro forma implied enterprise value of the combined company is $390 million. Energy Spectrum will fund the purchase and has increased its original commitment. The transaction is expected to close in the first half of 2024 and is subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:39 pm

INBS

Intelligent Bio Solutions Inc. has announced a 1-for-12 reverse stock split. This corporate action is typically used by companies to boost their share price by reducing the number of shares outstanding, which can help them meet minimum price requirements for stock exchanges and appear more attractive to investors. However, reverse splits do not change the company's overall market capitalization and can sometimes be viewed negatively as they may indicate underlying financial issues.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:35 pm

PRAX

RXST

SLCA

TTEK

Jim Cramer, on CNBC's 'Mad Money Lightning Round,' labeled Praxis Precision Medicines (PRAX) as 'too risky' despite its 64% stock jump over the past month following a public offering. He also rejected U.S. Silica Holdings (SLCA) after its Q3 results fell short of expectations. Conversely, Cramer endorsed Tetra Tech (TTEK) following Keybanc's Overweight rating and $191 price target. RxSight (RXST) was noted for losing money, with Cramer seeking further analysis despite Needham's Buy rating and increased price target from $35 to $41.

Portfolio Pulse from Avi Kapoor

January 25, 2024 | 1:33 pm

STRR

Star Equity Holdings, Inc. (NASDAQ: STRR) has announced a sale-leaseback transaction for its South Paris, Maine facility for $5.935 million. The facility will be leased back to KBS Builders, Inc., a wholly owned subsidiary of Star, for 20 years with an option to extend. The transaction is expected to close in Q1 2024 and is aimed at unlocking value for Star, allowing the company to reinvest in EBITDA-generating assets and acquisitions. The transaction will not affect KBS's operations.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:13 pm

EFTR

eFFECTOR Therapeutics, Inc. (NASDAQ:EFTR) announced a registered direct offering priced at-the-market under Nasdaq rules, aiming to raise $15 million. The offering includes 1,488,834 shares and equal warrants with an exercise price of $9.95, expiring in three and a half years. H.C. Wainwright & Co. is the exclusive placement agent. The proceeds will fund general corporate activities and R&D. The offering is expected to close on January 29, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:11 pm

WWD

Woodward, Inc. has announced an increase in its quarterly dividend from $0.22 to $0.25 per share, signaling confidence in its financial stability and commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:04 pm

WWD

Woodward, Inc. has authorized a new stock repurchase program, allowing the company to buy back up to $600 million of its shares. This move is part of Woodward's capital allocation strategy and reflects its commitment to delivering shareholder value. The repurchase program does not have an expiration date and may be executed through various methods, including open market purchases or privately negotiated transactions.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:02 pm

AWH

Aspira Women's Health has announced a registered direct offering of 1,571,000 shares, along with a concurrent private placement, to raise $5.5 million. This capital raise is aimed at funding the company's operations and strategic initiatives.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:02 pm

MLM

Martin Marietta Materials (NYSE:MLM) has been the subject of varying opinions from 5 analysts over the past three months, with ratings ranging from bullish to bearish. The average 12-month price target is $558.6, marking a 10.07% increase from the previous target of $507.50. Analysts from firms like Raymond James, Morgan Stanley, Stifel, and Stephens & Co. have raised their price targets, reflecting a positive outlook on the company's performance. Martin Marietta Materials, a major producer of construction aggregates, has shown strong revenue growth and net margin but faces challenges with ROE, ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 1:01 pm