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Equity Actions

EDR

Endeavor Group Holdings Inc (NYSE:EDR) announced a review of strategic alternatives to maximize shareholder value, causing its shares to soar. Major shareholder Silver Lake, controlling approximately 71% of Endeavor's voting power, is considering taking the company private. Endeavor will not consider selling its interest in TKO Group Holdings, Inc.

Portfolio Pulse from Adam Eckert

October 26, 2023 | 1:30 pm

SDA

SunCar Technology Group Inc. (NASDAQ:SDA) has announced a follow-on offering of $21 million of Class A Ordinary Shares at a price of $8.18 per share. The company will issue a total of 2,567,238 Ordinary Shares to institutional investors. Additionally, the company will issue common warrants for the purchase of up to 3,850,856 Ordinary Shares at an exercise price of $9.00 per share. The net proceeds from this offering will be used for working capital and general corporate purposes. The offering is expected to close on October 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 1:28 pm

BETS

Bit Brother Limited (NASDAQ:BETS) has announced a registered direct offering of $5.04 million. The company will sell 14 million Class A ordinary shares, Class B warrants, and Class C warrants at a combined purchase price of $0.36 per share and associated warrants. The gross proceeds are estimated to be $5.04 million before deducting placement agent fees and other expenses. The offering is expected to close on October 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 1:23 pm

SNOA

Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) has announced the pricing of its public offering of 8.5 million shares of common stock at $0.20 per share. The gross proceeds are expected to be approximately $1.7 million, before deducting placement agent fees and commissions and estimated offering expenses. The offering is expected to close on October 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 1:21 pm

NVVE

Nuvve Holding Corp. (NASDAQ:NVVE) has announced a registered direct offering priced at-the-market, with a single institutional investor. The offering includes the sale of 13,772,940 shares of common stock and pre-funded warrants to acquire common stock, each priced at $0.15. The aggregate gross proceeds are expected to be approximately $2.066 million. The transaction is expected to close on October 27, 2023. Aegis Capital Corp. is the Exclusive Placement Agent.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 1:10 pm

RICK

RCI Hospitality Holdings, Inc. (NASDAQ:RICK) has modified $15.7 million in debt due October 2024, extending maturities of the notes to free up more cash to buy back shares. The amended promissory notes will continue to be unsecured at 12% interest, with $9.1 million due October 1, 2026, and $6.6 million due November 1, 2027.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 1:03 pm

EDR

Endeavor Group Holdings, Inc. (EDR) shares are trading higher after the company announced a review of strategic alternatives. This could potentially lead to a significant change in the company's business model or operations.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 12:59 pm

MS

Morgan Stanley has announced that Edward Pick will take over as CEO from January 1, 2024, with current CEO James Gorman moving to the role of Executive Chairman. Pick has been with the company for two years as Co-President. The bank also announced that Co-President Andy Saperstein will become the Head of Wealth and Investment Management and Dan Simkowitz will become Co-President of the firm and the Head of Institutional Securities. Morgan Stanley recently reported a Q3 net profit of $2.4 billion, beating the consensus of $12.58 billion.

Portfolio Pulse from Nabaparna Bhattacharya

October 26, 2023 | 12:43 pm

ZIVO

Zivo Bioscience, Inc. (NASDAQ:ZIVO) has announced a 1-for-6 reverse stock split, effective at 5:00 p.m. ET on October 26, 2023. The reverse split will reduce the number of authorized shares from 150,000,000 to 25,000,000, with each stockholder's ownership percentage remaining unchanged. The move is part of Zivo's plan to regain compliance with Nasdaq's continued listing requirements.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 12:37 pm

ABVC

ABVC BioPharma has entered into a term sheet to license global rights of its CNS drugs for MDD and ADHD to AiBtl BioPharma, with a valuation of $667M. The agreement includes AiBtl stock of 46 million shares (57% of AiBtl) and milestone cash payments of $7M with royalties of 5% of net sales, up to $200 million, after the product's launch. AiBtl plans to go IPO and get listed on NASDAQ in 2024.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 12:33 pm