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Equity Actions

OPTT

Ocean Power Technologies (OPTT) has filed a prospectus related to the offering of up to 2.4 million shares of common stock by selling stockholders.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 12:50 pm

NVDA

SPY

Despite economic uncertainties, the S&P 500 has shown resilience this year, defying analysts' limited optimism and surpassing predicted levels. The index closed at 4,396.44, up 0.45%, and the SPDR S&P 500 ETF Trust (NYSE:SPY) ended at $438.11, up 0.39%. The market has largely disregarded the Federal Reserve’s warnings of more rate hikes. Strengths have emerged in the economy, with robust labor market and consumer spending. Corporate profits, especially in AI-focused firms like Nvidia Corp. (NASDAQ:NVDA), have fared better than expected.

Portfolio Pulse from Shanthi Rexaline

June 30, 2023 | 12:49 pm

WETF

WisdomTree has appointed Win Neuger as Board Chair, despite him receiving the most withheld votes of any incumbent director at the 2023 annual meeting of stockholders. This move is seen as a rebuke to stockholders and proxy advisor Institutional Shareholder Services (ISS), who have called for urgent and meaningful Board change. The Board continues to maintain a two-tiered structure where only long-tenured and non-diverse directors hold key roles. ETFS Capital has called on WisdomTree stockholders to voice their views to the Board.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 12:48 pm

BSFC

Blue Star Foods Corp. (NASDAQ: BSFC) has received an option to purchase land for its Recirculatory Aquaculture Systems (RAS) expansion in South Carolina. The company is working with the South Carolina Department of Commerce on economic development and incentives for the crab project. Preliminary proposals offer up to $3 million in incentives. The land, costing approximately $11.41 million, will be used to construct a new facility and integrate a Crab Hatchery, making it the largest Soft Shell Crab facility on the eastern shore of the US.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 12:34 pm

CTMX

CytomX Therapeutics has announced a $30 million private placement from BVF Partners L.P., leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 12:31 pm

WEST

Westrock Coffee Company (NASDAQ:WEST) has announced a $75 million equity investment from HF Capital and the Herbert Hunt family. The company has also amended its $400 million credit agreement to increase its total net leverage financial covenant and raise the minimum interest coverage ratio. Westrock Coffee is updating its 2023 outlook for Adjusted EBITDA to reflect flat to up 10% growth over 2022, down from the previous 10% to 25% growth forecast. The company has also been included in the Russell 3000® and Russell 2000®.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 12:12 pm

CTMX

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has announced a private placement agreement with BVF Partners L.P. for an initial investment of $30 million, potentially reaching up to $90 million. The funding is expected to extend CytomX's cash runway into the second half of 2025, allowing the company to reach multiple clinical milestones. The private placement includes the sale of pre-funded warrants to purchase up to 14,423,077 shares of common stock and accompanying Tranche 1 and 2 warrants to purchase up to 5,769,231 shares of common stock each.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 12:10 pm

SSKN

STRATA Skin Sciences, Inc. (NASDAQ:SSKN) has announced the appointment of Dr. Uri Geiger as the Chairman of its Board of Directors, effective July 3, 2023. William Humphries will step down as Chairman but continue to serve on the Board. Dr. Geiger has over 20 years of experience in the medical technology industry and currently serves as the founder and managing partner of Accelmed.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 12:08 pm

WRAP

Wrap Technologies (NASDAQ:WRAP) has executed a securities purchase agreement to raise approximately $10 million in a registered direct offering of convertible preferred stock and warrants. The offering is expected to close on July 3, 2023. The preferred stock will have a stated value of $1,000 per share, with holders entitled to cumulative dividends of 8% per annum. The warrants are exercisable six months after issuance at an exercise price of $1.45 per share.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 12:07 pm

BLCO

NVS

Novartis has announced its decision to divest its 'Front of Eye' ophthalmology assets as part of its focused strategy. The specific buyer or terms of the deal were not disclosed in the announcement.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 12:02 pm