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Equity Actions

DDD

3D Systems (NYSE: DDD) has repurchased approximately $135 million of its 0% coupon, convertible senior notes at a 26% discount to par value, reducing the principal balance from $460 million to about $325 million, due in 2026. The repurchase strengthens the company's balance sheet and maintains a strong cash position for operational needs and strategic investments. The transaction is set to close on December 13, 2023, and is seen as a proactive liability management move that positions 3D Systems for long-term success.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:31 pm

NKLA

Nikola Corporation has filed for an offering of up to $100 million shares of common stock. The proceeds from the offering are expected to be used for general corporate purposes, which may include working capital, operating expenses, and capital expenditures. The number of shares to be offered and the price range for the offering have not yet been determined.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:28 pm

SEAT

Vivid Seats Inc. (NASDAQ:SEAT) announced a secondary offering of 18.5 million shares of Class A common stock by Hoya Topco, LLC. The selling stockholder also plans to grant underwriters a 30-day option to purchase up to an additional 2.775 million shares. Vivid Seats will not receive any proceeds from this offering. Citigroup, Morgan Stanley, and BofA Securities are the joint book-running managers.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:27 pm

PYCR

Paycor HCM, Inc. has announced a secondary offering of 5 million shares of its common stock. The shares are being offered by an existing stockholder, not by Paycor itself, which means the company will not receive any proceeds from the sale. This type of offering can often lead to a dilution of existing shares' value and may put downward pressure on the stock price in the short term.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:27 pm

BECN

Beacon has announced that CD&R Boulder Holdings, a selling stockholder, has initiated a secondary public offering of 5 million shares. Additionally, the underwriter has been granted a 30-day option to buy up to 750,000 more shares. Post-offering, CD&R will retain 5,218,134 shares, or 4,468,134 if the underwriter's option is fully exercised.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:24 pm

AVNW

NEC Corporation has reported a 5.9% stake in Aviat Networks as of November 30, 2023, according to a 13D filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:20 pm

HCI

HCI Group, Inc. (NYSE:HCI) has announced the commencement of an underwritten public offering of 1,000,000 shares of its common stock. The company also plans to give underwriters a 30-day option to buy up to an additional 150,000 shares. The offering's completion, size, and terms are not guaranteed and depend on market conditions. Proceeds from the offering are intended for general corporate purposes, including policy assumptions from Citizens Property Insurance Corporation. JMP Securities and Truist Securities are managing the offering.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:18 pm

OPCH

The Board of Option Care Health has approved an increase in their share repurchase program, doubling the amount from $250 million to $500 million.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:15 pm

CHWY

Chewy, Inc. has announced the appointment of David Reeder as its new Chief Financial Officer (CFO) and Principal Financial Officer. Stacy Bowman will remain as the company's Chief Accounting Officer and principal accounting officer.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:12 pm

WVE

Wave Life Sciences has announced a proposed public offering of ordinary shares and pre-funded warrants to raise $100 million. The proceeds are expected to fund ongoing research and development activities, commercialization efforts, and for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:11 pm