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QuantumScape Corp (NYSE:QS) shares are trading lower after the company proposed a $300 million public offering. The company also intends to grant the underwriters an option to purchase up to an additional $45 million worth of stock. The proceeds will be used for working capital and general corporate purposes. QuantumScape reported Q2 financial results last week, with $232.84 million in cash and equivalents. The company maintained its full-year outlook for capital expenditures of $100 million to $150 million and cash operating expenses of $225 million to $275 million.

Portfolio Pulse from Adam Eckert

August 04, 2023 | 1:28 pm

LUCY

Innovative Eyewear, Inc. has successfully conducted a secondary offering to raise capital for the launch of smart eyewear collections under its new partnerships with Nautica, Eddie Bauer, and Reebok. The Nautica and Lucyd Safety smart eyewear lines are expected to launch in Q4 2023, while the Eddie Bauer and Reebok lines are expected to launch in early Q1 2024. The company also plans to make further enhancements to the Lucyd app, which powers seamless connection to ChatGPT on all of its eyewear.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:27 pm

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Saudi Arabia has announced that its voluntary cut in oil production can be extended and deepened, according to the state news agency.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:23 pm

BRK

Warren Buffett, the billionaire investor, has stated that he is not concerned about the recent U.S. rating downgrade by Fitch. He said that it does not change anything that Berkshire Hathaway is doing in the market. Despite the downgrade, Berkshire bought $10 billion worth of Treasuries and plans to continue doing so. Buffett also stated that he does not agree with everything the federal government is doing.

Portfolio Pulse from Shanthi Rexaline

August 04, 2023 | 1:22 pm

APD

Air Products & Chemicals Inc (APD) reported a Q3 FY23 adjusted EPS increase of 16% Y/Y to $2.98, beating the consensus of $2.91. However, sales fell 5% Y/Y to $3.03 billion, missing the consensus of $3.27 billion due to lower energy cost pass-through and unfavorable currency. The company recently signed a $1 billion investment deal with the Republic of Uzbekistan and Uzbekneftegaz JSC. APD raised the lower end of the adjusted EPS guidance for FY23 and reiterated its 2023 capital expenditures outlook.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 1:21 pm

BPTH

Bio-Path Holdings, Inc. (NASDAQ:BPTH) has announced the pricing of a public offering of 3.5 million shares of common stock and accompanying common stock purchase warrants at $0.60 per unit. The offering is expected to generate approximately $2.1 million in gross proceeds before fees and expenses. The proceeds will be used for working capital and general corporate purposes. The offering is expected to close on August 7, 2023.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:19 pm

WKHS

Workhorse Group Inc. (NASDAQ:WKHS) CEO, Rick Dauch, has sent a letter to stockholders urging them to vote in favor of a proposal to increase the number of authorized shares of Workhorse common stock. The company has also launched a website for the upcoming Special Meeting, providing information on the proposal and voting process. The move is part of the company's strategy to secure necessary financial resources for its next phase of production and profitable growth.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:19 pm

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Shawn Collins, the head of Massachusetts cannabis regulator, is set to step down by the end of the year, causing concerns within the commission. Maryland Governor Wes Moore has enlisted experts to assess the health impact of cannabis as sales surge in the state. Shareholders of Planet 13 Holdings, SNDL Inc., and Agra Ventures have elected new board members. Cresco Labs and Columbia Care have terminated their merger agreement, with Columbia Care announcing senior leadership changes. 22nd Century Group has appointed John Miller as interim CEO, and New Leaf Ventures has named Dean Medwid as CEO following the resignation of Michael Stier.

Portfolio Pulse from Jelena Martinovic

August 04, 2023 | 1:18 pm

KAVL

TPB

Kaival Brands Innovations Group, Inc. (NASDAQ:KAVL) has appointed Thomas J. Metzler as its new CFO, Treasurer and Secretary, and promoted Eric Mosser to CEO. Metzler, a former executive at Turning Point Brands (NYSE:TPB), brings over 20 years of experience in finance and operations in the vaping and consumer products sector. Mosser, who has been with Kaival Brands since 2020, has a decade of senior leadership experience.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:16 pm

AUID

CXM

authID.ai (NASDAQ:AUID) has announced the appointment of Ed Sellitto as its new Chief Financial Officer, effective August 15, 2023. Sellitto, who has over 15 years of experience in financial management and revenue operations, will succeed Annie Pham. Pham will remain with the company until the announcement and filing of Q2 2023 results to ensure a smooth transition. Sellitto's compensation package includes a grant of options to purchase 50,000 shares of new Common Stock.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:16 pm