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1357.HK

Meitu Inc. has completed a spinoff and funding round for its Singapore-based Pixocial unit, raising $22 million from investors including Fidelity's Eight Roads, valuing Pixocial at over $100 million. Pixocial, which contributed significantly to Meitu's 2022 net income, is now 80.6% owned by Meitu. The funding and spinoff may set Pixocial up for an IPO, with Meitu's stock rising nearly 7% post-announcement. Pixocial will focus on expanding its subscription services and B2B SaaS platform for creatives internationally.

Portfolio Pulse from The Bamboo Works

December 07, 2023 | 3:32 pm

META

MSFT

The article compares the stock performance of Microsoft (MSFT) and Meta Platforms (META), formerly Facebook, from May 18, 2012, to November 29, 2023. A $1,000 investment in Microsoft in 2012 would have grown to approximately $12,951, while the same amount in Meta would have become about $8,687. Microsoft outperformed Meta by roughly $4,300 over the 11-year period. The article suggests that both companies are worth watching for future investment opportunities and also mentions the potential of investing in startups.

Portfolio Pulse from Chris Bibey

December 07, 2023 | 3:24 pm

GSK

WVE

Wave Life Sciences Ltd (NASDAQ:WVE) is trading lower after pricing its public offering of 20 million shares at $5.00 per share, aiming to raise approximately $100 million. The underwriters have a 30-day option to purchase up to an additional 3 million shares. The offering is expected to close around December 11. Wave Life Sciences also initiated dosing in the RestorAATion clinical trial for WVE-006, a potential treatment for alpha-1 antitrypsin deficiency (AATD), and received a $20 million milestone payment from GSK plc (NYSE:GSK) as part of their collaboration. Wave is eligible for up to $505 million more in milestone payments and royalties from GSK. WVE shares dropped 29.40% to $4.85.

Portfolio Pulse from Vandana Singh

December 07, 2023 | 3:08 pm

GILD

Gilead Sciences Inc. (NASDAQ:GILD) shares are trading at $79.44, with a 0.10% increase in the current session and a 5.57% increase over the past month, despite a 10.01% decline over the past year. The stock's P/E ratio of 17.0 is lower than the Biotechnology industry average of 36.66, suggesting it may be undervalued or expected to perform worse than its peers.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 3:00 pm

RCAT

Red Cat Holdings Inc (NASDAQ:RCAT) shares dropped 27.7% after announcing a public offering of 16 million shares at $0.50 each, totaling $8 million. The offering includes an underwriter option for an additional 2.4 million shares and is expected to close on December 11. The funds are intended for general corporate purposes. RCAT's 52-week range is $1.54 high and $0.54 low.

Portfolio Pulse from Henry Khederian

December 07, 2023 | 2:56 pm

RCAT

Red Cat Holdings announced the pricing of its public offering, leading to a decline in its share price.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:55 pm

ZVSA

ZyVersa Therapeutics Inc (NASDAQ:ZVSA) shares plummeted by 43.7% to $1.20 after announcing a public offering of 4 million shares (or warrants) at $1.25 each to raise $5 million. The offering includes Series A and B warrants for up to 8 million shares at the same price. The funds will be used for general corporate purposes and working capital. The offering is expected to close around December 11.

Portfolio Pulse from Henry Khederian

December 07, 2023 | 2:55 pm

ZVSA

ZyVersa Therapeutics' stock price has dropped following the announcement of a $5 million public offering. The offering could dilute existing shareholders' equity, leading to the decline in stock price.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:54 pm

PHUN

Phunware, Inc. (NASDAQ:PHUN) has announced the pricing of its public offering at $0.06 per share, expecting to raise approximately $2.8 million through the sale of around 46.7 million shares. The offering is scheduled to close on December 11, 2023, with Roth Capital Partners as the sole placement agent. The proceeds are intended for working capital, general corporate purposes, and product initiatives like monetizing its patent portfolio and its digital currencies, PhunCoin and PhunToken.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:53 pm

FLJ

FLJ Group Limited (NASDAQ:FLJ) announced a change in the ratio of its American depositary shares (ADSs) from 1 ADS representing 15,000 Class A shares to 1 ADS representing 600,000 Class A shares, effectively a 1-for-40 reverse ADS split. This change will occur on December 7, 2023, and will require ADS holders to exchange their old ADSs for new ones at the Bank of New York Mellon. No fractional new ADSs will be issued; instead, fractional entitlements will be sold and proceeds distributed to the holders. The company expects the ADS price to increase proportionally but cannot assure it will be equal to or greater than forty times the pre-change price.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:45 pm