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GGE

Green Giant Inc (NASDAQ:GGE) stock plummeted 36% to a new all-time low of $0.098 after announcing a securities purchase agreement to sell $5.95 million worth of units at $0.17 each. The units include common stock shares, Class A and Class B warrants, and pre-funded units with warrants. The offering, facilitated by Maxim Group LLC, is expected to close on December 14, 2023. GGE's 52-week trading range is $0.09 to $3.30.

Portfolio Pulse from Henry Khederian

December 12, 2023 | 3:58 pm

GGE

Green Giant's stock price has declined following the announcement of its public offering pricing.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 3:57 pm

SNAP

There has been a significant options trade on Snap Inc. with a sweep of 1574 contracts for the January 5th $17 call options near the ask price of $0.38, compared to an open interest of 681 contracts. This activity suggests that traders may be anticipating a positive move in Snap's stock price ahead of its earnings report, which is estimated to be released after the market close on January 30th. The reference stock price at the time of the trade was $15.935.

Portfolio Pulse from Charles Gross

December 12, 2023 | 3:57 pm

APO

BCS

MS

SNCY

Sun Country Airlines Holdings Inc (SNCY) stock dropped 8% after announcing a secondary offering of 4 million shares by an Apollo Global Management affiliate. Sun Country will not receive proceeds from the sale but plans to repurchase $5 million of shares at the offering price. Barclays and Morgan Stanley are the joint bookrunners for the offering.

Portfolio Pulse from Henry Khederian

December 12, 2023 | 3:38 pm

AMC

AMC Entertainment Holdings Inc (NYSE:AMC) completed a $350 million at-the-market equity offering, selling approximately 48 million shares at an average price of $7.29 per share. The company used the proceeds to repurchase $50 million of its 10% second lien notes due 2026 and exchanged $12.275 million of the same notes for about 1.6 million shares of common stock. This reduced AMC's liabilities by $62.28 million. CEO Adam Aron emphasized the move's role in strengthening the balance sheet and preparing for future challenges and opportunities.

Portfolio Pulse from Adam Eckert

December 12, 2023 | 3:31 pm

BYND

There was a notable options trade for Beyond Meat, where an investor purchased 295 call options with a strike price of $11, expiring on February 16. The options were bought near the ask price at $1.694 each, compared to an open interest of 199, indicating new positioning. The stock reference price at the time was $10.755.

Portfolio Pulse from Charles Gross

December 12, 2023 | 3:27 pm

WKHS

Workhorse Group entered into a Securities Purchase Agreement with High Trail Special Situations on December 12, as disclosed in an SEC 8K filing.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 2:26 pm

FBIN

Fortune Brands Innovations, Inc. (NYSE:FBIN) has increased its quarterly cash dividend from $0.23 to $0.24 per common share, payable on March 13, 2024, to stockholders of record as of February 23, 2024. This increase reflects the Board's confidence in the company's long-term cash flow and commitment to shareholder value through investments, acquisitions, and cash returns.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 2:15 pm

AMC

AMC Entertainment Holdings has conducted privately negotiated exchange agreements, issuing 1,568,591 shares of Class A Common Stock in exchange for $12,275,000 of its 10%/12% Cash/PIK aggregate principal amount, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 2:12 pm

GGE

Green Giant Energy (GGE) has priced its public offering, planning to sell 35 million units at $0.17 each, totaling $5.95 million. The offering includes Class A and Class B common warrants with exercise prices of $0.17 and $0.27, respectively. Class A warrants are exercisable upon an increase in authorized shares, while Class B warrants can be exercised immediately with cashless options under certain conditions. A shareholder meeting is to be held within 120 days to vote on increasing the company's authorized shares, and warrant holders have agreed not to exercise cashlessly below $1.50 in the initial 20 trading days post a reverse stock split.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 2:02 pm