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ACHR

ARKK

STLA

UAL

Archer Aviation Inc. (ACHR) is closing an oversubscribed PIPE as part of a $215M investment round led by Stellantis. Key investors in the PIPE include ARK Investment Management LLC (ARKK) and United Airlines (UAL). The investment round, combined with Stellantis' $70M acceleration, will bring Archer's total funding to over $1.1B. The funds will be used for working capital and general corporate purposes, including the continued development of Archer's aircraft and related technology.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 1:22 pm

INTU

PYPL

Alex Chriss, previously of Intuit, has been appointed as the new CEO of PayPal, according to a CNBC report.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 1:15 pm

EVGRF

NWTN

NWTN Inc. has announced a strategic investment of $500 million in China Evergrande New Energy Vehicle Group Ltd. (EVGRF), acquiring approximately 27.50% of the total number of enlarged issued ordinary shares of EVGRF. The transaction is expected to close in Q4 2023. This move aims to accelerate NWTN's development in the electric vehicle space and facilitate EVGRF's research, development, and mass production of new car models for export overseas.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 1:13 pm

MULN

The board of Mullen Automotive has authorized a $25 million buyback program.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 1:11 pm

ISPR

Ispire Technology Inc. (NASDAQ:ISPR) has announced key leadership changes, appointing Michael Wang as its Co-CEO and Daniel J. Machock as the new CFO. The company believes these changes will refine its strategic direction and promote growth, operational excellence, and technological advancement.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 1:09 pm

EFSH

1847 Holdings LLC has secured additional unsecured debt financing with institutional investors to accelerate its growth. The company issued investors a 20% original issue discount (OID) for $3.125M of 4,098,361 common shares for a total purchase price of $2.5M in a private placement transaction.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 1:06 pm

KHC

Kraft Heinz has announced changes in its leadership, with Carlos Abrams-Rivera, currently Executive Vice President and President of the North America Zone, set to become CEO effective January 1, 2024. Current CEO, Miguel Patricio, will transition to the role of Non-Executive Chair of the Board on the same date.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 1:04 pm

CGRN

Capstone Green Energy Corporation (NASDAQ:CGRN) announced the resignation of Darren Jamison as President and CEO, effective August 22, 2023. Robert Flexon, Board Chair, will serve as Interim CEO. The board will initiate a search for a permanent CEO. Flexon, who has extensive industry experience, will focus on improving the company's financial health.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 1:03 pm

CARV

Carver Bancorp, Inc. (NASDAQ:CARV) has appointed Craig C. MacKay as interim President & CEO, effective October 1, 2023. The move comes as current President & CEO, Michael T. Pugh, is set to depart on September 30, 2023, to become the CEO of the Local Initiatives Support Coalition. MacKay, a seasoned executive in the financial services industry, has been an independent director of Carver since February 2017 and is currently Senior Advisor at England & Company.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 12:58 pm

AMC

AMC Entertainment Holdings Inc. plans to increase its total number of authorized shares of Class A common stock from 524.2 million to 550 million. The company also intends to effect a 1-for-10 reverse split. AMC expects APEs to cease trading on August 25 and subsequently be delisted from the NYSE.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 12:58 pm