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Equity Actions

BOWL

Bowlero Corp (NYSE:BOWL) reported a 10.6% YoY decline in Q4 FY23 sales to $239.42 million, missing the analyst consensus. However, revenue increased 54% compared to Q4 FY19. The company's gross profit for the quarter plunged 30.5% to $57.2 million. The company repurchased 6.4 million shares at an average price of $12.64 and the Board authorized an increase to the share repurchase program to $200 million. Bowlero sees FY24 revenue of $1.14 billion - $1.19 billion.

Portfolio Pulse from Shivani Kumaresan

September 11, 2023 | 2:30 pm

PALI

Palisade Bio Inc's shares are trading lower by 0.66% after the company announced a $2 million registered direct offering. The company plans to use the net proceeds for working capital and general corporate purposes. Ladenburg Thalmann & Co. Inc. is the exclusive placement agent for the offering.

Portfolio Pulse from Henry Khederian

September 11, 2023 | 1:46 pm

YUM

Yum Brands Inc.'s (NYSE:YUM) share price is currently at $126.97, after a 0.34% increase. Over the past month, the stock fell by 4.34%, but in the past year, it spiked by 11.78%. The company's P/E ratio is lower than the aggregate P/E of 164.86 of the Hotels, Restaurants & Leisure industry, which could indicate that the stock is undervalued or that shareholders do not expect the stock to perform better in the future.

Portfolio Pulse from Benzinga Insights

September 11, 2023 | 1:45 pm

TNON

Tenon Medical Inc (NASDAQ:TNON) shares dropped by 27.2% after the company announced a proposed public offering of common stock. The offering is contingent on market conditions and other factors, with no guarantee on the timing or completion of the offering. Maxim Group LLC is acting as the sole placement agent.

Portfolio Pulse from Henry Khederian

September 11, 2023 | 1:43 pm

LGVN

Longeveron's CEO has issued a letter to stockholders, highlighting the progress of their lead investigational product, Lomecel-B™, in multiple disease states. The company has initiated a $30 million Rights Offering and the Phase 2 ELPIS II trial in Hypoplastic Left Heart Syndrome (HLHS) has surpassed 50% enrollment. The company also announced the appointment of new members to its Board and executive leadership team.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 1:34 pm

CING

Cingulate Therapeutics has priced its offering of 6,925,208 shares at $0.5776 per share.

Portfolio Pulse from Bill Haddad

September 11, 2023 | 1:23 pm

ZYXI

Zynex, Inc. has announced a $10 million share repurchase program, effective from September 13, 2021, through September 12, 2024.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 1:17 pm

ASPS

CDIO

RPID

Insiders at Rapid Micro Biosystems, Cardio Diagnostics Holdings, and Altisource Portfolio Solutions have recently purchased shares in their respective companies. Rapid Micro Biosystems' CFO acquired 10,000 shares following upbeat Q2 results. Cardio Diagnostics' CTO bought 18,251 shares as the company partnered with Ascension Borgess Hospital on a coronary artery disease study. Altisource Portfolio Solutions' CEO and Chairman purchased 41,667 shares as the company priced its underwritten public offering of 4.8 million shares.

Portfolio Pulse from Lisa Levin

September 11, 2023 | 1:10 pm

ALGT

JBLU

SAVE

JetBlue and Allegiant have announced a divestiture agreement in connection with JetBlue's combination with Spirit Airlines. JetBlue will transfer all holdings of Spirit Airlines to Allegiant after the closing of the combination. This move is aimed at promoting the continued growth of ultra-low-cost options at Boston Logan, Newark Liberty International, and Fort Lauderdale-Hollywood airports.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 1:05 pm

LRQ

LRQ House Inc has announced a $29.95/month VAULT digital dividend coupon. The company also plans to acquire 79,310 shares at $1.1553/share.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2023 | 12:45 pm