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Equity Actions

CSLR

Complete Solaria, Inc. (NASDAQ:CSLR) announced T.J. Rodgers as the new CEO, succeeding Chris Lundell. Rodgers plans to leverage his experience in fundraising and M&A to guide the company through its financial challenges, including a significant reduction in quarterly operating expenses and addressing quality issues. The company faces pressure from its private equity debt holders, particularly Carlyle, which Rodgers criticizes for their detrimental financial tactics. Complete Solaria also promoted Brian Wuebbels to COO. Rodgers aims to convert debt to equity to alleviate financial strain and criticizes Carlyle's approach to business and its impact on companies and communities.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 4:48 pm

AEHR

Aehr Test Systems (NYSE:AEHR) has seen a decrease in short interest, now at 5.61 million shares or 20.45% of its float, down 5.46% from the last report. This decline in short interest could indicate a more bullish sentiment among investors. Despite this, it's not a direct predictor of stock price movement. AEHR's short interest is significantly higher than its peer group average of 5.68%, suggesting unique market sentiment towards the company.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 4:45 pm

CLVR

Clever Leaves Holdings Inc (NASDAQ:CLVR) stock plummeted by 62% to $1.56 after announcing its decision to voluntarily delist from Nasdaq and deregister its securities, citing potential non-compliance with listing requirements, personnel resources, and high regulatory costs. The last trading day on Nasdaq is expected to be around May 16, with deregistration effective 90 days post filing.

Portfolio Pulse from Henry Khederian

April 29, 2024 | 4:33 pm

KO

Coca-Cola is reportedly preparing for an Initial Public Offering (IPO) of its African bottling division, valued at approximately $8 billion, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 4:31 pm

MBLY

Mobileye Global (NYSE:MBLY) has seen a 17.98% increase in short interest, with 21.88 million shares sold short, representing 32.68% of its float. This indicates a bearish market sentiment, although it's not a direct predictor of stock performance. Mobileye's short interest is significantly higher than its peer group average of 6.16%, suggesting more bearish sentiment compared to its peers.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 4:30 pm

CJJD

China Jo-Jo Drugstores Inc (NASDAQ:CJJD) shares fell 24% to $2.21 after announcing a $1.53 million registered direct offering of 0.9 million shares at $1.70 each. The offering aims to raise funds for general corporate needs and working capital. The stock has seen a significant decline over the past year, with a 87.15% decrease, and currently has a Relative Strength Index of 38.72, indicating neutral market conditions.

Portfolio Pulse from Henry Khederian

April 29, 2024 | 4:29 pm

SSKN

Strata Skin Sciences announced a 1-for-10 reverse stock split, leading to its shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 4:06 pm

SSKN

STRATA Skin Sciences, Inc. (SSKN) announced a 1-for-10 reverse stock split effective June 6, 2024, with trading on a split-adjusted basis starting June 7, 2024. This move aims to comply with Nasdaq's minimum bid price requirement. Shareholders had approved a reverse split ratio range between 1-for-5 and 1-for-25 on October 26, 2023. The reverse stock split will proportionately adjust outstanding equity-based awards and other equity rights, with no fractional shares issued. Stockholders will receive cash for any fractional shares based on the pre-split closing price. The reverse stock split affects all stockholders uniformly without altering their percentage interest in the company.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 4:02 pm

HTLF

UMBF

UMB Financial Corporation (NASDAQ:UMBF) shares fell after announcing its largest acquisition in history, buying Heartland Financial USA Inc. (NASDAQ:HTLF) for $2.0 billion in an all-stock deal, alongside pricing an underwritten offering and reporting higher-than-expected Q1 FY24 earnings. The deal will significantly expand UMB's assets and customer base, expected to close in Q1 2025. UMB also announced a share repurchase program and a quarterly dividend. Despite strong Q1 results, UMBF shares dropped 4%, while HTLF shares surged 19%.

Portfolio Pulse from Lekha Gupta

April 29, 2024 | 3:52 pm

ATXG

Addentax Group Corp. (ATXG) has announced a private placement of its common stock, selling 330,000 shares to each of two investors at $0.98 per share, totaling $646,800. The agreements include standard terms for such transactions.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:52 pm