Streetbeat News

Equity Actions

AXSM

Axsome Therapeutics Inc (NASDAQ:AXSM) shares are trading lower after the company proposed a public offering of common stock. The details of the offering have not been disclosed. The proceeds will be used to advance its late-stage pipeline, including funding existing and potential new clinical programs, products and product candidates, as well as to expand its commercialization efforts.

Portfolio Pulse from Adam Eckert

June 28, 2023 | 12:50 pm

AREB

American Rebel announced the pricing of a $3 million private placement at-the-market per Nasdaq rules, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 12:48 pm

MSTR

Microstrategy Inc has acquired approximately 12,333 Bitcoins for about $347M in cash between April 29 and June 27, according to an SEC filing.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 12:47 pm

BENF

Beneficient has entered into a $250M Standby Equity Purchase Agreement (SEPA) with YA II PN. Under the agreement, Beneficient has the right, but not the obligation, to sell to Yorkville.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 12:46 pm

AREC

American Resources Corporation (NASDAQ: AREC) has received an unsolicited bid for its wholly owned metallurgical carbon division, American Carbon, totaling an implied enterprise value of approximately $260 million. The bid was not accepted due to the duration and structure of the consideration payments. The company remains committed to maximizing the value for shareholders including the sale, lease or expansion of production from the Company's metallurgical carbon assets.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 12:40 pm

LVO

LiveOne has been included in the Russell Microcap Index, which could potentially increase its visibility among investors.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 12:34 pm

NERV

Minerva Neurosciences, Inc. (NASDAQ:NERV) has announced a private investment in public equity (PIPE) financing deal worth approximately $20 million. The deal involves the sale of 1,425,000 shares of its common stock at $10 per share and pre-funded warrants to purchase 575,575 shares of its common stock at $9.99 per pre-funded warrant to Boehringer Ingelheim and Federated Hermes Kaufmann Funds. The proceeds will be used to support potential regulatory approval in the U.S., commercialization activities and market launch of roluperidone, a treatment for negative symptoms in schizophrenia.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 12:31 pm

AAL

DAL

JETS

LUV

SPY

UAL

U.S. airline stocks have seen significant gains in June, with the U.S. Global Jets Exchange Traded Fund (JETS) demonstrating one of the highest quarterly returns among equity industry benchmarks. JETS is up 15.4% in the past month, three times the SPDR S&P 500 ETF Trust’s (SPY) 4.5% gain. Despite the recent strong performance, the ETF that tracks stocks in the aviation industry still has more than 50% upside potential to catch up to pre-Covid-19 levels. Four airline companies, Delta Airlines (DAL), American Airlines (AAL), Southwest Airlines (LUV), and United Airlines (UAL), account for up to 45% of the fund’s total holdings and have all seen significant gains in the past month.

Portfolio Pulse from Piero Cingari

June 28, 2023 | 12:30 pm

ASTS

AST SpaceMobile Inc (NASDAQ:ASTS) shares are trading lower after the company announced a public offering of 12.5 million shares for gross proceeds of $59.4 million. The company plans to use the proceeds for general corporate purposes, including expected cash payments related to launch services and additional equipment in the third quarter. The offering is expected to close on June 30.

Portfolio Pulse from Adam Eckert

June 28, 2023 | 12:24 pm

ASTS

AST SpaceMobile has announced the pricing of an upsized offering of Class A common stock, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 12:23 pm