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Equity Actions

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

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

GROY

Gold Royalty Corp. has committed $31 million to finance Aura Minerals' Borborema Project. The funding is part of a larger $40 million strategic convertible debenture financing with Queen's Road Capital and Taurus Funds Management. The financing is structured as a private placement of unsecured convertible debentures.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:52 am

SharkNinja, Inc. (NYSE:SN) has announced the pricing of a secondary offering of 6,095,169 ordinary shares at $47 per share by selling shareholders affiliated with Xuning Wang and CDH Investments. An additional option for underwriters to purchase up to 914,275 shares is granted by the CDH Investments affiliate. The offering is expected to close on December 8, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:39 am

EYPT

EyePoint Pharmaceuticals has priced an upsized public offering of 11,764,706 common shares at $17 per share, expecting to raise approximately $200 million before fees and expenses.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:35 am

IXAQ

IX Acquisition Sponsor LLC has increased the monthly loan amount it will contribute to IX Acquisition's trust account if the Second Extension is approved, from $0.015 to $0.025 per public share not redeemed, with a $50,000 maximum monthly contribution. Shareholders previously approved an extension for the company to complete a business combination from April 12, 2023, to May 12, 2023, with the possibility of further monthly extensions until April 12, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:22 am

CRDO

Credo Technology has priced its public offering of 10 million ordinary shares at $17.50 each. Of these, 8,940,000 shares are offered by Credo, with expected gross proceeds of $156.5 million before expenses. The remaining 1,060,000 shares are offered by selling shareholders.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 6:24 am

MSFT

Elon Musk's AI venture, xAI, is seeking to raise $1 billion in equity funding and has already secured nearly $135 million from four investors. The company, which launched a chatbot named Grok, aims to compete with other AI firms. Musk, who also owns X (formerly Twitter), announced that equity investors in X will have a 25% stake in xAI. Microsoft Corporation (NASDAQ:MSFT) has invested approximately $13 billion in OpenAI, a company Musk co-founded and left. Musk has criticized OpenAI and called for a pause in training powerful AI models.

Portfolio Pulse from Ananya Gairola

December 06, 2023 | 3:40 am

COIN

GBTC

SOFI

TDOC

TOST

TTD

VEEV

Ark Invest, led by Cathie Wood, sold over $33 million in Coinbase Global Inc (COIN) shares and nearly $5.6 million in Grayscale Bitcoin Trust (GBTC) shares as Bitcoin crossed the $44,000 mark. The sales were made through various Ark ETFs including ARKK, ARKW, and ARKF. Additionally, Ark Invest increased its holdings in SoFi Technologies (SOFI), Toast Inc (TOST), Veeva Systems (VEEV), Teladoc (TDOC), and The Trade Desk (TTD).

Portfolio Pulse from Benzinga Neuro

December 06, 2023 | 3:22 am

AGG

BND

BNDX

EMB

HYG

IGIB

JNK

TLT

USHY

VGLT

Investors have recently funneled billions into aggressive bond ETFs, anticipating multiple Federal Reserve rate cuts in 2024. This trend reflects a strong belief in a disinflationary trend and a potential shift in the Fed's monetary policy. The inflows have been particularly notable in ETFs that include long-term Treasury bonds, emerging-market bonds, and high-yield corporate bonds. The top 10 bond ETFs by fund inflows in the past month are led by iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and include others like iShares Core U.S. Aggregate Bond ETF (AGG) and SPDR Bloomberg High Yield Bond ETF (JNK).

Portfolio Pulse from Piero Cingari

December 05, 2023 | 11:18 pm