Streetbeat News

Equity Actions

F

A Ford executive has stated that the auto industry will undergo more changes in the next five years than it has in the past several decades.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 2:25 pm

IMPP

Imperial Petroleum Inc's (NASDAQ:IMPP) shares are trading lower by 4.0% to $1.56 after the company announced the pricing of approximately $17 million of its units in a registered direct offering at a price of $2 per unit. The stock is lower by 40% since Friday's open. The company also reported Q2 earnings of $1.46 per share and $59.04 million in sales, a 420% increase over the same period last year.

Portfolio Pulse from Henry Khederian

August 14, 2023 | 2:15 pm

SBEV

Splash Beverage Group has secured a $10 million operating capital credit facility and raised an additional $2.7 million with legacy investors. The company has also retired its S-3 public shelf offering.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 1:54 pm

AAP

Traders are circulating chatter about potential activist activity from Gordon Haskett in Advance Auto Parts (AAP).

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 1:48 pm

TMC

The Metals Company Inc (NYSE:TMC) announced a registered direct offering at $2 per share, an 82% premium to the stock's closing price on Aug. 11. The offering is led by ERAS Capital, Allseas, and several institutional investors. The transaction includes one warrant for every two common shares purchased with a strike price of $3 per share. The gross proceeds are expected to be approximately $27 million. TMC also provided a Q2 update, anticipating a net loss of $14.1 million. Post-offering, TMC believes it will have sufficient capital for at least the next year.

Portfolio Pulse from Adam Eckert

August 14, 2023 | 1:39 pm

AMC

APE

AMC Entertainment Holdings Inc's shares are trading lower after the company received court approval for its revised stock conversion plan. The plan allows for the conversion of AMC Preferred Equity Units (APE) into common shares and includes a one-for-ten reverse stock split. The court-approved settlement could be valued at up to $120 million. AMC CEO Adam Aron stated that the proposal is the right path for AMC, allowing the company to shore up cash reserves, pay down debt, invest in growth initiatives, and pursue merger and acquisition opportunities.

Portfolio Pulse from Adam Eckert

August 14, 2023 | 1:34 pm

AMC

AMC Entertainment's shares are trading lower following court approval for its revised stock conversion plan.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 1:30 pm

INTU

PYPL

Alex Chriss, currently at Intuit, has been appointed as the new CEO and President of PayPal, effective from September 27. Outgoing CEO Dan Schulman will remain a director until May 2024.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 1:29 pm

NOVA

Sunnova Energy International Inc. (NYSE:NOVA) has announced the pricing of its underwritten public offering of 5.1 million shares at $14.75 per share, with an option for underwriters to purchase an additional 765,000 shares. The offering is expected to close on August 16, 2023. The net proceeds, estimated at $71.4 million, will be used for general corporate purposes. Goldman Sachs & Co. LLC is the book-running manager of the offering.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 1:24 pm

APP

AppLovin Corporation (APP) announced that KKR Denali Holdings L.P. has entered into an agreement with GQG Partners LLC to sell 10 million shares of AppLovin's Class A common stock in a direct placement to client accounts managed by GQG.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 1:23 pm