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Equity Actions

BWEN

MKTX

Broadwind Inc (BWEN) has agreed to sell approximately $15 million of Advanced Manufacturing Production Credits to MarketAxess Holdings, Inc. (MKTX) under the Inflation Reduction Act. The tax credits are related to Broadwind's domestic production and sale of wind turbine components. Broadwind will also sell section 45X tax credits generated in 2024 on a quarterly basis. CEO Eric Blashford highlighted the economic incentive for renewable energy investment provided by the 45X tax credit. BWEN's stock saw a slight increase of 0.35% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 27, 2023 | 1:52 pm

CNSL

Consolidated Communications Holdings, Inc. (CNSL) is urging shareholders to vote for a proposed acquisition by Searchlight Capital Partners and British Columbia Investment Management Corporation. The offer is $4.70 per share, a 70% premium over the April 12, 2023 share price, and a 218% increase from the initial bid. The transaction is seen as the best risk-adjusted outcome for shareholders, providing a certain value and transferring execution risks to the acquirers. The Special Meeting to vote on the transaction is scheduled for January 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:09 pm

AVTX

Avalo Therapeutics has announced a 1-for-240 reverse stock split of its common stock. The split-adjusted trading on the Nasdaq Capital Market will begin on December 29, 2023, under the existing symbol 'AVTX'. This action will decrease the outstanding shares from roughly 192.4 million to approximately 801,611.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 12:03 pm

BWEN

Broadwind (NASDAQ:BWEN) has reached a definitive agreement to sell about $15 million of Advanced Manufacturing Production Credits from the Inflation Reduction Act to MarketAxess Holdings Inc. The sale is subject to discounts, transaction fees, and related expenses.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 12:01 pm

CNXA

CZOO

UCAR

The article highlights three consumer discretionary stocks that are currently oversold according to their Relative Strength Index (RSI) values, suggesting they may be undervalued. Connexa Sports Technologies Inc. (CNXA) reported a Q2 loss but expects revenue growth and profitability in Q4 of fiscal 2024. U Power Limited (UCAR) announced a follow-on offering, and Cazoo Group Ltd (CZOO) completed debt restructuring. All three stocks have seen significant price drops over the past month.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 11:56 am

NIO

TCEHY

NIO Inc. (NYSE:NIO) has completed a $2.2 billion strategic equity investment from CYVN Investments RSC. CYVN now holds a 20.1% ownership stake in NIO and can nominate two directors to NIO's board. The investment will help NIO enhance its balance sheet, brand positioning, sales, service capabilities, and invest in core technologies amid a competitive EV landscape. Tencent Holding Ltd. (NASDAQ:TCEHY) previously sold shares to CYVN as part of the investment.

Portfolio Pulse from Nabaparna Bhattacharya

December 27, 2023 | 11:13 am

OPT

Opthea is set to receive the remaining $35 million from Carlyle and Abingworth as part of a development funding agreement. This financing is non-dilutive, meaning no new equity will be issued to the investors.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 11:02 am

FANH

PUYI

FANHUA Inc. (NASDAQ:FANH) and Puyi Inc. (NASDAQ:PUYI) have entered into share exchange agreements, where certain FANHUA shareholders will exchange shares for PUYI shares, resulting in mutual ownership stakes. The transaction is set to close on December 29, 2023, with FANHUA shareholders owning 76.7% of PUYI and PUYI owning 50.1% of FANHUA.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:40 am

NIO

NIO Inc., a leader in the premium smart electric vehicle market, has closed a strategic equity investment deal worth $2.2 billion with CYVN Investments RSC Ltd, an Abu Dhabi-based investment vehicle. This deal, which was initially announced on December 18, 2023, aims to bolster NIO's financial position and support its growth initiatives.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:36 am

BOTZ

OpenAI CEO Sam Altman has expressed a new perspective on interest rates in the context of abundant innovation, questioning what will happen to rates when there are more and better ideas than ever. Hedge fund Lumida Wealth and venture capital firm Aleph responded, suggesting higher rates could lead to better allocation of talent and innovation. Interest rates have fluctuated over the years, with the Fed recently initiating an aggressive rate-hike cycle. Cathie Wood of Ark Investment Management highlighted the potential for disruptive innovations to significantly boost global productivity and GDP growth. The Global X Robotics & Artificial Intelligence ETF (BOTZ) experienced a slight increase.

Portfolio Pulse from Shanthi Rexaline

December 27, 2023 | 9:21 am