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Equity Actions

CSWI

CSW Industrials (NASDAQ:CSWI) stock fell 10.3% after increasing its public offering size to 1.1 million shares at $285 each, generating $313.5 million in gross proceeds. The funds will primarily repay debt and support potential acquisitions.

Portfolio Pulse from Henry Khederian

September 05, 2024 | 4:16 pm

SHC

Sotera Health Co (NASDAQ:SHC) shares rose by 5.97% following the announcement of a secondary offering of 25 million shares by Warburg Pincus and GTCR. These entities will no longer hold a majority stake, affecting their rights. Sotera Health will not receive proceeds from the sale.

Portfolio Pulse from Henry Khederian

September 05, 2024 | 4:04 pm

BKSY

BlackSky Technology's shares fell following the announcement of a 1-for-8 reverse stock split.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 3:41 pm

PTHL

Pheton Holdings' IPO was priced at $4 per share, but the stock opened for trading at $3.76 per share, indicating a lower-than-expected market reception. The company issued 2.25 million shares.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 3:40 pm

ASTS

PTF

UFO

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares are plummeting due to a prospectus filing for the sale of up to $400 million in Class A common stock. The company plans to use the proceeds for general corporate purposes. ASTS shares are down 13.6% at $28.59. Investors can gain exposure through ETFs like Procure Space ETF (NASDAQ:UFO) and Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF).

Portfolio Pulse from Lekha Gupta

September 05, 2024 | 3:31 pm

LE

Lands' End, Inc. (NASDAQ:LE) reported better-than-expected Q2 earnings, with net revenue of $317.2 million surpassing the consensus of $307.41 million. Despite a decrease in global eCommerce and Outfitters net revenue, the company saw a 23.4% increase in third-party net revenue. Gross profit rose by 8.8% due to improved product solutions and reduced promotional activity. Lands' End raised its annual profit guidance, expecting adjusted EPS of $0.29 – $0.48, up from $0.18 – $0.41. The company also repurchased $3.7 million of its stock and plans further buybacks. LE shares rose 1.46% following the announcement.

Portfolio Pulse from Lekha Gupta

September 05, 2024 | 3:16 pm

SHC

Sotera Health shares are trading higher following the announcement of a secondary offering of 25 million shares.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 3:15 pm

PMAX

Powell Max's IPO shares opened for trading at $4.30 per share, slightly above the IPO price of $4 per share. The company issued 1.43 million shares.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 3:11 pm

GM

LAC

Lithium Americas Corp and General Motors Co are facing delays in closing their $330 million Tranche 2 investment due to Lithium Americas' low share price, which could lead to high dilution. Both companies are seeking mutually beneficial solutions, with the decision-making process extended until year-end. The delay also impacts the timeline for a critical DOE loan for the Thacker Pass project, affecting GM's EV plans.

Portfolio Pulse from Surbhi Jain

September 05, 2024 | 2:12 pm

PMAX

Powell Max Limited, a financial communications services provider, has announced the pricing of its IPO, offering 1,426,750 Class A Ordinary Shares at $4 per share, aiming to raise $5.707 million. The shares will trade on NASDAQ under the symbol PMAX starting September 5, 2024.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 2:02 pm