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Equity Actions

EVGN

Evogene Ltd. (NASDAQ:EVGN) announced a registered direct offering of 8.5 million ordinary shares at a price of $1.00 per share, resulting in a 20% drop in its stock price. The offering, expected to close on July 19, 2023, is anticipated to generate gross proceeds of approximately $8.5 million. The funds will be used to develop product pipelines, enhance its computational predictive biology platform, and for working capital and general corporate purposes.

Portfolio Pulse from Vuk Zdinjak

July 17, 2023 | 2:28 pm

LEV

Lion Electric Company has entered into subscription agreements with investors for concurrent finance transactions, aiming to raise approximately $142 million. This has led to a rise in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 2:27 pm

CORN

SOYB

SPY

VGK

WEAT

Russia has informed the UN shipping agency IMO that the termination of the Black Sea grain deal will result in the revocation of 'guarantees for safety of navigation' issued by Russia. This could potentially disrupt grain shipments, affecting related ETFs.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 2:15 pm

NNDM

SSYS

Nano Dimension Ltd. (NNDM), a leading supplier of Additively Manufactured Electronics (AME) and 3D printers, which owns approximately 14.1% of Stratasys' (SSYS) outstanding ordinary shares, is encouraging Stratasys shareholders to replace their current board with Nano Dimension's director nominees. Nano Dimension criticizes the Stratasys board for neglecting its fiduciary duties, pursuing a dilutive transaction with Desktop Metal, and having a problematic track record. The new board proposed by Nano Dimension is expected to focus on enabling competing bids for Stratasys to maximize shareholder value.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 2:10 pm

CORN

SOYB

SPY

VGK

WEAT

The White House has urged Russia to reverse its decision to suspend a Black Sea grain deal, stating that it will worsen food security and harm millions. This decision could potentially impact the prices of commodities and related ETFs.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 1:58 pm

BECN

Beacon Roofing Supply Inc (NASDAQ:BECN) has commenced a private offering of $500 million of senior secured notes due 2030. The proceeds will be used to repurchase all 400,000 outstanding shares of Series A Cumulative Convertible Participating Preferred Stock held by an entity affiliated with the Clayton Dubilier & Rice, LLC investment firm for an aggregate cash amount equal to $804.5 million. The company held $74.2 million in cash and equivalents as of March 31, 2023.

Portfolio Pulse from Shivani Kumaresan

July 17, 2023 | 1:56 pm

KSCP

Capybara Research has released a short report on Knightscope, a security camera and robotics company, predicting a significant decline in its equity due to inevitable extensive dilution. The report highlights Knightscope's consistent lack of profitability, inability to scale, ineffective robotic technology, lack of customer satisfaction, and the threat of delisting from Nasdaq. The company is no longer under the “Baby Shelf” rule and can now fully utilize its $100m shelf to raise capital. The report also criticizes Knightscope's CEO, William Santana Li, for his track record of failed ventures and questionable ethical practices.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 1:43 pm

INFI

MEIP

MEI Pharma, Inc. (NASDAQ:MEIP) has encouraged its shareholders to vote in favor of the pending transaction with Infinity Pharmaceuticals, Inc. (NASDAQ:INFI). The transaction aims to create a combined company with a diversified pipeline of three clinical-stage development programs. Proxy advisory firms ISS and Glass Lewis have recommended shareholders to vote for the transaction.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 1:19 pm

BCLI

BrainStorm Cell Therapeutics Inc. (NASDAQ:BCLI) has announced a registered direct offering for the purchase and sale of 4,054,055 shares of common stock and warrants at a price of $1.85 per share. The warrants will have an exercise price of $2.00 per share and will expire five years from the date of issuance. The offering is expected to close on July 19, 2023, and is expected to generate approximately $7.5 million in gross proceeds.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 1:16 pm

META

Venture capitalist Marc Andreessen has defended Elon Musk and Mark Zuckerberg's potential upcoming cage fight, calling them role models for children. Andreessen's fund, a16z, is an investor in Twitter and he is also on the board of Meta Platforms Inc. (NASDAQ:META). He believes that mixed martial arts (MMA) teaches discipline, emotional control, respect, and a deep sense of responsibility. It's unclear if the Musk vs Zuckerberg fight will happen, but both billionaires have begun training for it.

Portfolio Pulse from Rounak Jain

July 17, 2023 | 1:16 pm