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Equity Actions

JUPW

Jupiter Wellness, Inc. (NASDAQ:JUPW) has announced the expected payment date for the distribution of shares of common stock of SRM Entertainment, Inc., a majority-owned subsidiary, to effect the spin-off of the SRM business. The payment date is expected to be on August 3, 2023, subject to SRM's Registration Statement being declared effective by the SEC, approval of the listing of the SRM Common Stock on the Nasdaq Capital Market, and receipt of certain other approvals.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:07 am

KALA

Kala Pharmaceuticals, Inc. (NASDAQ:KALA) has announced that it will change its name to KALA BIO, Inc. effective August 2, 2023. The name change reflects the company's focus on advancing biologics for the treatment of ophthalmic conditions. The company's common stock will continue to be listed on The Nasdaq Capital Market under the ticker symbol 'KALA'.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:06 am

PACI

Private aviation company Volato is set to become a public company through a business combination with PROOF Acquisition Corp I (NYSE:PACI). The deal values Volato at $190 million and is expected to provide $25 million in additional proceeds. Volato reported 2022 revenue of nearly $100 million. The combined entity will trade under the ticker symbol 'SOAR'. Volato also completed a Series A funding round led by PROOF.vc in July 2023.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:05 am

STBX

Starbox Group Holdings Ltd. (NASDAQ:STBX) has integrated its AI content creation engine supporting graphics into its AIGC engine – StarBoxGPT. The integration aims to enhance the utility of graphic design, increase creative output, and optimize content creation costs. The system can analyze user input and automatically suggest design elements, color palettes, and layouts, enabling content creators to craft stories and convey messages visually.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:03 am

ORMP

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) has signed a non-binding term sheet with Hefei Tianhui Biotech Co., Ltd. (HTIT) to establish a joint venture (JV) based on Oramed's oral drug delivery technology. The JV will focus on the development and worldwide commercialization of products based on Oramed's oral insulin and POD™ pipeline and HTIT's manufacturing capabilities. HTIT will invest $60 million and Oramed will invest $10 million into the JV.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:02 am

ATI

ATI has expressed confidence in its ability to deliver for 2023 and beyond, stating that it is executing on its long-term strategy.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:02 am

VRSK

Verisk has increased its FY23 outlook, now expecting revenue of $2.63B to $2.66B, adjusted EBITDA of $1.39B-$1.43B, and diluted adjusted EPS of $5.50-$5.70. The company's expectations for adjusted EBITDA margins remain unchanged at 53-54%.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:02 am

CELH

HUGE

KO

FSD Pharma Inc. (NASDAQ:HUGE) has signed an agreement with Celly Nutrition Inc. to launch UNBUZZD, a rapid alcohol detoxification drink. The launch will be led by former executives from Coca-Cola (NYSE:KO) and Celsius Holdings (NASDAQ:CELH). FSD Pharma will receive a 7% royalty on revenue from Celly Nutrition until a total of $250 million has been paid, after which the rate will be reduced to 3%. FSD Pharma has also been issued 100 million common shares in Celly Nutrition and an anti-dilution warrant.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 11:01 am

BRY

Berry Corp has announced that it expects the 2023 capital expenditure for both Berry and C&J Well Services to be $35M lower than the initial guidance of $103M-$113M.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:00 am

SR

Spire has lowered its FY23 Net Economic EPS guidance range to $4.15–$4.25 from $4.20–$4.30 due to lower margins in its gas utilities. The company remains confident in its long-term growth strategy and plans to invest in infrastructure upgrades, new business, and innovation. The targeted capital investment for the 10-year period through fiscal 2032 remains $7 billion.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:58 am