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Equity Actions

SASI

Sigma Additive Solutions has signed a definitive agreement to acquire NextTrip. Sigma will acquire 100% of NextTrip's capital stock in exchange for 19.99% of Sigma's outstanding common stock. The deal, expected to complete in Q4 2023, includes additional contingent shares of Sigma common stock upon the achievement of post-closing milestone earnouts tied to NextTrip's business performance. Post-acquisition, NextTrip's CEO William Kerby will become CEO of the publicly traded company and NextTrip will have the right to appoint one member to the board of directors. Sigma is expected to change its name to NextTrip, Inc. and to be listed on Nasdaq under a new trading symbol.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:35 pm

NUWE

Nuwellis, Inc. (NASDAQ:NUWE) has announced the pricing of a public offering of 150,000 units, each consisting of one share of the Company's Series J Convertible Redeemable Preferred Stock and one warrant to purchase half a share of the same. The offering is expected to close on October 17, 2023. The gross proceeds from the offering are expected to be approximately $2.25 million, which Nuwellis intends to use for working capital and general corporate purposes.

Portfolio Pulse from Happy Mohamed

October 13, 2023 | 12:33 pm

MSFT

OpenAI, the parent company of ChatGPT, is close to selling shares in a deal that values the company at $90 billion. The deal, which could depend on investors from the Middle East, would allow OpenAI's employees to sell their existing shares. OpenAI, co-founded by Sam Altman and 49% owned by Microsoft Corp (NASDAQ:MSFT), is in talks to help its employees cash out of private stock in a tender offer that’s likely to close on October 21. However, the outlook for such tech deals is uncertain as U.S. investors appear to be withdrawing at OpenAI’s price tag.

Portfolio Pulse from Anusuya Lahiri

October 13, 2023 | 12:06 pm

SLNH

Soluna Holdings, Inc. (NASDAQ:SLNH) has announced a 1-for-25 reverse stock split, reducing the number of its outstanding shares from approximately 37.3 million to 1.5 million. The move is part of the company's plan to regain compliance with the $1.00 per share minimum closing price required for continued listing on NASDAQ. The split will become effective at 5:00 p.m. Eastern Time, on October 13, 2023, and the stock will begin trading on a post-split basis on October 16, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:05 pm

OSK

Citigroup analyst Timothy Thein has upgraded Oshkosh (NYSE:OSK) from Neutral to Buy and raised the price target from $110 to $115.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 11:55 am

DWAC

Digital World Acquisition Corp. (DWAC) plans to return $533 million of the $1 billion raised for Trump Media & Technology Group, following the cancellation of $467 million in funding commitments. This could potentially derail the anticipated merger between DWAC and the Trump media group. Despite the challenges, DWAC CEO Eric Swider sees the cancellation of funding commitments as a positive step towards finalizing the business combination.

Portfolio Pulse from Benzinga Neuro

October 13, 2023 | 11:52 am

EIS

SPY

Israel's Gallant has stated that the Gaza offensive will be protracted, powerful and effect permanent change. This could potentially impact the stability in the region and affect the performance of related stocks and ETFs.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 11:44 am

STKL

SunOpta has announced the appointment of Greg Gaba as its new Chief Financial Officer (CFO), effective from October 13, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 11:04 am

DG

Gordon Haskett analyst Chuck Grom has upgraded Dollar Gen (NYSE:DG) from Hold to Buy and announced a $140 price target.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 10:13 am

RSHO

The article discusses the focus of both President Joe Biden and former President Donald Trump on reviving the U.S. economy through domestic manufacturing and mining. Amid geopolitical tensions and supply chain issues, investors are looking for opportunities in the U.S. reshoring initiatives. The Tema American Reshoring ETF (NYSE:RSHO) is highlighted as a fund that offers protection against trade wars and supply chain failures. Since its trading inception on May 11, RSHO has risen 14.32%, outperforming the S&P 500.

Portfolio Pulse from Melanie Schaffer

October 13, 2023 | 10:06 am