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AREC

American Resources Corporation's subsidiary, ReElement Technologies, has secured $46 million in local incentives from Marion, Indiana for its 42-acre critical mineral refining campus. The campus will produce ultra-pure battery elements and rare earth elements for EV battery and permanent magnet supply chains. The incentives are in the form of an Economic Development Revenue Bond issued by the city. The campus will have an initial production capacity of 5,000 metric tons of ultra-pure lithium hydroxide or carbonate per year, and 750 metric tons per year of rare earth oxides.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 12:39 pm

SASI

Sigma Additive Solutions, Inc. (NASDAQ:SASI) has announced a 1-for-20 reverse stock split to regain compliance with Nasdaq's minimum bid price per share requirement and facilitate strategic transactions. The company's common stock will begin trading on a split-adjusted basis on September 22, 2023, under the symbol 'SASI'. The reverse stock split will reduce the number of shares from approximately 12,227,135 to around 611,357.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 12:36 pm

OSA

ProSomnus, Inc. (NASDAQ: OSA), a leading CPAP alternative for the treatment of Obstructive Sleep Apnea, has raised $10 million in a convertible preferred equity offering led by Spring Mountain Capital and Cetus Capital, LLC. The new capital will be used to optimize the company's core business operations and support its strategic growth initiatives. The company reported a 48% revenue growth in the first half of 2023.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 12:33 pm

FDS

FactSet Research Systems Inc. reported Q4 FY23 sales growth of 7.3% YoY to $535.797 million, slightly beating the consensus of $535.280 million. However, the adjusted EPS of $2.930 missed the consensus of $3.50. The company repurchased 264,400 shares of its common stock for $109.6 million at an average price of $414.63 during the quarter. The company's outlook for FY24 is below the Street's expectations, with an adjusted EPS of $15.65-$16.15 and GAAP revenues of $2.210-$2.230 billion.

Portfolio Pulse from Nabaparna Bhattacharya

September 21, 2023 | 12:30 pm

TRNS

Transcat has priced a $70 million public offering of common stock, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:24 pm

AKTX

Akari Therapeutics (NASDAQ:AKTX) has announced a private placement of its equity securities with existing investors, including Chairman Dr. Ray Prudo and CEO Rachelle Jacques, expected to generate $2 million. The company also received a $2.5 million R&D tax credit from the UK. The private placement will involve the issuance of unregistered American Depository Shares (ADSs) at $3.30 per ADS. The closing is expected on September 22, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:22 pm

BABA

KWEB

MCHI

Alibaba's stock is trading lower, in line with the broader indexes iShares MSCI China ETF and KraneShares Trust KraneShares CSI China Internet ETF. This follows the Federal Reserve's hawkish pause in its tightening cycle, a weakening yuan, and China's housing market crisis. Alibaba recently announced plans to reorganize its businesses into six independently run entities.

Portfolio Pulse from Anusuya Lahiri

September 21, 2023 | 12:19 pm

IP

Truist Securities analyst Michael Roxland has upgraded International Paper (NYSE:IP) from Hold to Buy and announced a $43 price target.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:07 pm

TRNS

Transcat has priced its public offering of 736,845 shares of its common stock at $95 per share, raising $70 million.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:06 pm

VEDU

Visionary Education Technology Holdings Group Inc. (NASDAQ:VEDU) has announced plans to diversify its business into three sectors: Education, Life Sciences, and Artificial Intelligence. The company has also appointed Mr. Charlie Penn as Chief Operating Officer, effective from September 14, 2023. Mr. Penn has extensive experience in investment and education management.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:03 pm