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CZOO

Cazoo Group Ltd (NYSE:CZOO) has updated the settlement methodology for the exchange of its $630 million 2.00% Convertible Senior Notes due 2027. The exchange will now include $200 million of 4.00%/2.00% senior secured notes due 2027 and a significant portion of Class A ordinary shares, representing 92% of the total Class A shares post-exchange. The new settlement method rounds to the nearest permitted denomination instead of rounding down for the New Notes, which will be issued in minimum denominations of $1,000. The settlement date is set for December 6, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:46 am

XOM

ExxonMobil announced an update to its corporate plan extending through 2027, with a focus on delivering $6 billion in additional structural cost reductions by the end of 2027. This strategic update emphasizes the company's commitment to increasing efficiency and reducing costs.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:31 am

IVP

Inspire Veterinary Partners entered into a Common Stock Purchase Agreement with Tumim Stone Capital on November 30. Tumim Stone Capital has committed to purchasing up to $30 million of Inspire Veterinary Partners' Class A Common Stock, as disclosed in an 8-K filing.

Portfolio Pulse from Charles Gross

December 06, 2023 | 11:11 am

EU

enCore Energy has secured a $70M deal with Boss Energy to expedite its uranium production plans across South Texas and for the development of projects in Wyoming and on the Wyoming-South Dakota border. The deal is expected to close in February 2024.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:10 am

DWAC

Digital World Acquisition Corp. (DWAC) has extended the deadline to complete its initial business combination from December 8, 2023, to March 8, 2024, as announced by its Board of Directors on Tuesday.

Portfolio Pulse from Charles Gross

December 06, 2023 | 11:08 am

ATAT

Atour Lifestyle has announced the pricing of an upsized registered secondary offering of 9.6 million American Depositary Shares (ADSs) by Legend Capital at $15.80 per ADS. The offering was increased from the previously disclosed 8 million ADSs to 9.6 million.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:04 am

AAPL

FXI

INDA

Apple Inc. is reportedly shifting towards manufacturing iPhone batteries in India, as part of its strategy to diversify its supply chain away from China. This move is seen as an effort to mitigate risks associated with over-reliance on Chinese manufacturing and to take advantage of potential cost savings and favorable government policies in India.

Portfolio Pulse from Charles Gross

December 06, 2023 | 10:09 am

FEAM

5E Advanced Materials, Inc. (FEAM) has entered into a Restructuring Support Agreement (RSA) with its primary lender, BEP Special Situations IV, LLC, and new strategic investors to restructure its capital and secure new funding. This Transaction will allow the commencement of initial mining operations and the production of boric acid and lithium.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 10:01 am

NIO

China-based electric vehicle maker Nio is planning to spin off its battery manufacturing unit, according to Reuters. The strategic move is aimed at reducing costs and improving efficiency within the company.

Portfolio Pulse from Charles Gross

December 06, 2023 | 9:53 am

JG

Aurora Mobile Limited (NASDAQ:JG) announced an adjustment to the ratio of its American depositary shares (ADSs), effectively executing a one-for-twenty reverse ADS split. Initially set for December 6, 2023, the change will now take effect on December 11, 2023. The adjustment changes the ratio from three ADSs representing two Class A common shares to three ADSs for forty Class A common shares. This reverse split will not affect the underlying Class A common shares, and no shares will be issued or cancelled. ADS holders will exchange twenty ADSs for one new ADS, with The Bank of New York Mellon facilitating the exchange. Aurora Mobile's ADSs will continue trading on the Nasdaq under the ticker 'JG'.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:13 am