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Equity Actions

SWTX

SpringWorks Therapeutics has announced the commencement of a public offering of $250 million of its common stock. The company also plans to offer underwriters a 30-day option to purchase up to an additional $37.5 million of shares. This move could potentially dilute current shareholders but also provide the company with additional capital for its operations and growth initiatives.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:14 pm

AROW

V

Arrow Financial Corp has executed a two-part balance sheet repositioning strategy, which included the sale of all 27,771 shares of Visa Class B common stock. The transaction resulted in a pre-tax gain of approximately $9.3 million, as reported in an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:14 pm

EYPT

EyePoint Pharmaceuticals has announced a proposed public offering of common stock aiming to raise $175 million. The offering's specifics, such as pricing and number of shares, have not been disclosed yet. This capital raise could dilute existing shareholders but also provide the company with funds for operations, investment, and potential growth.

Portfolio Pulse from Bill Haddad

December 04, 2023 | 9:08 pm

BWAQ

Blue World Acquisition Corporation (BWAQ) has extended the deadline to complete its initial business combination from December 2, 2023, to January 2, 2024. A $60,000 Extension Fee was deposited into the Trust Account by Fuji Solar, a major shareholder of TOYO Solar, with whom Blue World has a merger agreement. The Extension Fee was evidenced by an unsecured promissory note issued to Fuji Solar.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:01 pm

FYBR

JANA Partners, a shareholder of Frontier Communications Parent, Inc. (NASDAQ:FYBR), has sent a letter to Frontier's Board urging an immediate review of strategic alternatives to maximize shareholder value. JANA believes Frontier is undervalued and faces structural impediments that prevent it from reaching its full potential as a public company. They suggest considering a sale, strategic partnership, or divestiture of non-core assets to transition to a pure-play fiber provider. JANA highlights Frontier's poor share price performance, lack of new investor interest post-bankruptcy, and underperformance compared to peers and the S&P 500.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 8:48 pm

CRM

NVDA

Mistral AI, a competitor to OpenAI, is close to securing approximately €450 million in funding, valuing the company at around $2 billion. The funding round includes major contributions from Nvidia Corp. and Salesforce Inc., with Andreessen Horowitz leading the equity investment. The round consists of over €325 million in equity and €120 million in convertible debt. Some insiders, including adviser Cedric O, are expected to sell parts of their stakes.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 8:02 pm

DVN

Devon Energy's (NYSE:DVN) short interest has decreased by 12.62% since the last report, with 10.08 million shares sold short, representing 1.8% of available shares. The current short interest suggests a bullish sentiment as it is below the peer group average of 6.22%. Short interest is a market sentiment indicator, and a decrease may imply that investors are less bearish on DVN.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 7:00 pm

MRNA

Moderna's (NYSE:MRNA) short interest has increased by 14.18% since the last report, with 22.38 million shares sold short, representing 7.81% of available shares. It would take approximately 3.96 days to cover these short positions based on current trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Moderna has a higher short interest than its peer group average of 4.93%.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 7:00 pm

ON

ON Semiconductor's (NYSE:ON) short interest has decreased by 4.58% since the last report, with 23.74 million shares sold short, representing 8.33% of available shares. The short interest is higher than the peer group average of 3.41%. While a decline in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term price rise.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 6:30 pm

APH

Amphenol (NYSE:APH) has seen a 21.3% increase in short interest since its last report, with 6.84 million shares sold short, representing 1.31% of its float. It would take about 2.89 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, Amphenol has less short interest compared to its peers' average of 3.69%. The rise in short interest doesn't necessarily predict a stock price drop, but it suggests traders are more bearish on APH.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 6:30 pm