Streetbeat News

Equity Actions

ARBK

Argo Blockchain plc (NASDAQ: ARBK), a cryptocurrency mining company, has issued 1,638,305 new ordinary shares as part of the terms for previously granted Restricted Share Units. These shares will be on par with existing shares and are expected to be admitted to the London Stock Exchange's Main Market for trading on December 20.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 7:57 am

SNDX

Syndax Pharmaceuticals has priced a public offering of 10,810,810 common shares at $18.50 per share, aiming to raise $200 million. The offering is anticipated to close on December 19, 2023, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 7:31 am

EOSE

Eos Energy Enterprises has priced a public offering of 34,482,759 common shares and accompanying warrants at $1.45 per share. The warrants have an exercise price of $1.60, are exercisable immediately, and expire in five years. Eos aims to raise $50 million in gross proceeds before underwriting discounts and expenses. The offering is set to close around December 19, 2023, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 7:16 am

NLTX

Neoleukin Therapeutics has announced a 1-for-4 reverse stock split, set to take effect at 12:02 a.m. Eastern Time on December 18, 2023. This action is typically taken by companies aiming to boost their stock price by reducing the number of shares outstanding, which may help them meet exchange listing requirements or appear more financially stable.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 7:02 am

ERNA

Eterna Therapeutics Inc. has entered into a securities purchase agreement with accredited investors to sell around $9.2 million in senior convertible promissory notes and warrants. These warrants allow for the purchase of approximately 9.58 million shares of common stock. The private placement transaction was priced at-the-market under Nasdaq rules. The company anticipates an initial closing with proceeds of about $7.8 million on December 15, 2023, and the remaining funds by January 15, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 7:00 am

COST

DRI

LEN

RCAT

SCHL

U.S. stock futures are trading higher, with investor focus on Darden Restaurants (DRI), Costco (COST), Lennar (LEN), Scholastic (SCHL), and Red Cat Holdings (RCAT). DRI is expected to report earnings before the bell, COST announced a special dividend following upbeat earnings, LEN reported better-than-expected earnings but saw a share drop, SCHL reported weaker results and approved share repurchases, and RCAT is expected to post a loss but saw shares gain after-hours.

Portfolio Pulse from Avi Kapoor

December 15, 2023 | 6:58 am

LTHM

Livent Corporation has taken a minority stake in ILiAD Technologies to enhance its position in direct lithium extraction processes. This strategic investment aims to strengthen Livent's leadership in the lithium industry.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 6:46 am

SPY

Economist Mohamed El-Erian expressed concerns about the eroding leadership of the Western-led global economic order, attributing it to internal stress and policy missteps over the years. He warned of increased global fragmentation and disorder if the current international framework fails. El-Erian urged Western Powers to strengthen multilateral institutions to mitigate risks. Despite these concerns, the SPDR S&P 500 ETF Trust (SPY) has gained about 25% this year.

Portfolio Pulse from Shanthi Rexaline

December 15, 2023 | 5:49 am

EOSE

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) has priced an underwritten public offering of 34,482,759 shares and accompanying warrants at $1.45 per unit. The warrants have an exercise price of $1.60, are exercisable immediately, and expire in five years. Eos anticipates gross proceeds of approximately $50 million, with the offering expected to close around December 19, 2023. TD Cowen and Stifel are the joint bookrunning managers for the offering.

Portfolio Pulse from Charles Gross

December 15, 2023 | 12:32 am

AIG

BX

CRBG

Corebridge Financial (CRBG) intends to repurchase $150 million of its shares, with $135 million from AIG and $15 million from Blackstone. The transaction is set to close on December 18, 2023, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 11:29 pm