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Equity Actions

NKLA

Nikola Corp (NYSE:NKLA) shares are plummeting after the company announced plans to offer $100 million of common stock and $200 million of green convertible senior notes due 2026. The offerings include options for underwriters to purchase additional shares and notes. Proceeds from the stock offering will be used for working capital and general corporate purposes, while proceeds from the notes will fund eligible projects. Despite tripling its unrestricted cash since Q1, Nikola's stock has dropped over 54% in 2023 and was down 20.6% to 78 cents.

Portfolio Pulse from Adam Eckert

December 07, 2023 | 2:15 pm

VMD

Viemed Healthcare, Inc. (VMD) has received approval to voluntarily delist its common shares from the Toronto Stock Exchange (TSX) to centralize trading on NASDAQ. The delisting will be effective after market close on December 21, 2023. This move aims to consolidate trading volumes, enhance market efficiency, and increase long-term liquidity and shareholder value on NASDAQ. Viemed's shares will continue to trade on NASDAQ under the symbol 'VMD', and Canadian shareholders will still be able to trade through their brokers on NASDAQ.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:02 pm

RSG

Republic Services Inc has filed for a notes offering according to an SEC filing, although the size of the offering has not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:44 pm

BYTS

BYTE Acquisition Corp. (NASDAQ:BYTS) and Airship AI Holdings, Inc. have announced the filing of a definitive proxy statement for their proposed business combination. The Extraordinary General Meeting for BYTE shareholders to vote on the merger is scheduled for December 15, 2023. If approved, the combined entity will be listed on Nasdaq under the ticker symbol 'AISP'. Shareholders as of November 21, 2023, are urged to vote, with BYTE's board recommending approval of the merger.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:40 pm

SASI

Sigma Additive Solutions, Inc. (NASDAQ:SASI) has filed its definitive proxy statement with the SEC regarding the proposed acquisition of NextTrip Holdings, Inc. Shareholders as of November 20, 2023, are encouraged to vote on the acquisition and other matters at the Annual Meeting on December 28, 2023. The acquisition involves Sigma acquiring all capital stock of NextTrip in exchange for 19.99% of Sigma's outstanding common stock and additional contingent shares based on NextTrip's post-closing performance.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:40 pm

FRSX

Foresight Autonomous Holdings has announced a registered direct offering of 4.5 million American Depositary Shares (ADS) at a price of $1 per ADS, raising a total of $4.5 million.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:35 pm

FRSX

Foresight Autonomous Holdings has announced a registered direct offering of 4.5 million shares at a price of $1 per share, aiming to raise $4.5 million in capital.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:32 pm

CLH

Clean Harbors, Inc. has announced an expansion of its share repurchase program by $500 million. This move indicates the company's confidence in its financial stability and future prospects. Share buybacks often signal to investors that the company believes its stock is undervalued and is a good use of its capital, which can lead to a positive reaction in the stock market.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:31 pm

NKLA

Nikola Corporation's stock price is trading lower following the company's announcement of proposed offerings of common stock and convertible senior notes, which typically dilutes current shareholders' equity and could potentially increase the company's debt burden.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:26 pm

WVE

Wave Life Sciences' stock price has dropped following the announcement of a $100 million public offering of ordinary shares. The offering could dilute existing shareholders' equity, leading to the negative market reaction.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:26 pm