Streetbeat News

Equity Actions

UCAR

U Power Limited (NASDAQ:UCAR), a vehicle sourcing services provider, has entered into a strategic cooperation agreement with Magnify Capital Partners to establish an investment fund. The fund will provide financial support and industry guidance for U Power's future projects, including infrastructure construction for battery charging and battery swapping stations in Portugal. The agreement is for one year, and the cooperation is expected to improve U Power's industrial competitiveness and market influence.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 12:14 pm

BIOR

Biora Therapeutics, Inc. (NASDAQ:BIOR) has entered into a $50 million equity swap agreement with Athyrium Capital Management. The deal involves exchanging senior convertible notes due 2025 for a combination of common stock and pre-funded warrants. The exchange price is $3.01 per share, a 44% premium to the closing price on September 18, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 12:09 pm

ELOX

Eloxx Pharmaceuticals, Inc. (NASDAQ:ELOX) has announced a registered direct offering of 380,590 shares at $5.255 per share, expected to raise approximately $2 million. The company also plans to issue unregistered warrants to purchase an equivalent number of shares at $5.13 per share. The proceeds will be used to advance various projects, including the development of ELX-02 for the treatment of Alport syndrome and other rare kidney diseases.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 12:09 pm

IPA

ImmunoPrecise Antibodies has appointed Kristin Taylor as Interim CFO, succeeding Brad McConn effective from September 29.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 12:09 pm

REPL

Replimune Group, Inc. (NASDAQ:REPL) has appointed Emily Hill as its new Chief Financial Officer. Hill was previously CFO of PTC Therapeutics and has over 15 years of experience in the biotechnology and life sciences industry. The appointment comes as Replimune is preparing to transition to a commercial stage company.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 12:07 pm

IPA

Immunoprecise Antibodies Ltd. (IPA) has announced the resignation of its CFO, Brad McConn, effective September 29, 2023. Kristin Taylor, MBA, CPA, has been named as the interim CFO.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 12:03 pm

SGBX

Safe & Green Holdings Corp. (NASDAQ:SGBX) has announced the distribution date of September 27, 2023, for the planned spin-off of its real estate development subsidiary, Safe & Green Development Corp (SG DevCo). Approximately 30% of the outstanding shares of SG DevCo common stock will be distributed to SG Holdings' stockholders on a pro rata basis. The company expects commencement of trading on the Nasdaq Stock Market on September 19, 2023, under the ticker symbol 'SGDVV'.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 12:01 pm

DAVA

Endava (DAVA) has provided its Q1 and FY24 guidance. For Q1, the company expects revenues between £186.0M-£187.0M and adjusted EPS of £0.34-£0.35, representing a constant currency revenue decline of 1.0%-2.0%. For FY24, Endava anticipates revenues of £780.0M-£795.0M and adjusted EPS of £1.52-£1.62, indicating a constant currency growth of 1.0%-3.0%. These estimates are based on the exchange rates as of August 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 11:25 am

APOG

AZO

NIO

QQQ

SPY

X

US stock futures are holding onto slight gains as the Federal Reserve meeting begins. The market is expected to remain cautious as traders anticipate the Fed's future rate trajectory. Stocks showed little movement on Monday, although they ended slightly higher. Wharton Professor Jeremy Siegel predicts a positive market momentum towards the end of the year. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF saw slight gains. United States Steel Corporation, Nio, Inc., Apogee Enterprises, Inc., and AutoZone, Inc. are in focus.

Portfolio Pulse from Shanthi Rexaline

September 19, 2023 | 11:20 am

TM

TSLA

Toyota Motor Corporation (NYSE:TM) has unveiled its next-generation BEV production line's preparation status, with plans for commercialization in 2027-28. The company is also developing a production line for next-generation batteries (bipolar lithium-ion batteries) to be commercialized in 2026-27. Toyota is focusing on carbon neutrality in manufacturing and believes it can compete with Tesla, Inc. (NASDAQ:TSLA) by merging advanced technology with lean production techniques.

Portfolio Pulse from Nabaparna Bhattacharya

September 19, 2023 | 11:18 am