Streetbeat News

Equity Actions

EDSA

Edesa Biotech has announced a one-for-seven reverse share split. This action is typically taken by companies to increase the market price of their shares.

Portfolio Pulse from Bill Haddad

October 10, 2023 | 1:07 pm

LRHC

La Rosa Holdings Corp. (NASDAQ: LRHC) has announced the pricing of its initial public offering (IPO) of 1,000,000 shares of common stock at $5.00 per share, expecting to raise $5,000,000. The company has also granted underwriters a 45-day option to purchase up to 150,000 additional shares. The shares are expected to begin trading on The Nasdaq Capital Market on October 10, 2023. The company plans to use the net proceeds for general corporate purposes, including acquisitions, debt repayment, and technology purchases.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 1:05 pm

U

Unity Software Inc (NYSE:U) announced a CEO transition with John Riccitiello retiring as chairman, president and CEO, effective immediately. James Whitehurst has been appointed as interim president and CEO and Roelof Botha has been named chairman. The company also reaffirmed its Q3 guidance and is set to report financial results on Nov. 9. Unity shares initially traded lower on the news before bouncing back, up 4.18% at $30.94.

Portfolio Pulse from Adam Eckert

October 10, 2023 | 1:04 pm

BWV

Blue Water Biotech, Inc. (NASDAQ:BWV) has appointed Dr. Neil J. Campbell as President and CEO and Bruce Harmon as CFO. Dr. Campbell has over 35 years of experience in biopharmaceuticals, health technologies, nanotechnologies, AI, and super-computing. He has held leadership positions at IGEN International, Celera Genomics, and Abbott Laboratories. Bruce Harmon has over 40 years of experience in financial positions with life sciences companies and various other industries.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 1:04 pm

PD

PagerDuty has announced a proposed private placement of $350 million of convertible senior notes, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 12:43 pm

COHR

Coherent announced that Denso Corporation and Mitsubishi Electric Corporation will invest a total of $1 billion in its silicon carbide business. This has led to an increase in Coherent's share prices.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 12:42 pm

WLY

Wiley (NYSE:WLY) announced the immediate departure of its President and CEO, Brian Napack, and the appointment of Matthew Kissner as Interim CEO. Kissner, a former Group Executive and Board Chair, will execute the company's value creation plan, which includes focusing on profitable businesses, divesting non-core assets, and streamlining the company. Wiley's Investor Day, initially planned for October 12, will be rescheduled.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 12:34 pm

JNJ

K

SOPA

Society Pass Inc. (NASDAQ:SOPA) plans to spin out its digital advertising ecosystem, Thoughtful Media Group Inc, and its online travel platform, NusaTrip Inc, into new publicly-traded companies via Nasdaq IPOs in 2024. The company believes this will unlock shareholder value as investors can more clearly evaluate the performance and future potential of these profitable businesses. The CEO of SoPa, Raynauld Liang, noted that this action follows the leads of Johnson & Johnson and Kellogg's spinning out operating subsidiaries.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 12:31 pm

H

Hyatt Hotels' shares are trading higher following the announcement that the company will join the S&P MidCap 400.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 12:27 pm

TBI

TrueBlue (NYSE:TBI) has announced the promotion of Carl R. Schweihs to Chief Financial Officer, effective October 30, 2023. Schweihs will succeed Derrek Gafford, who is leaving after nearly two decades as CFO. Jerry Wimer has been promoted to General Manager of PeopleManagement's on-site staffing business and will serve as Acting President of PeopleManagement.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 12:16 pm