Streetbeat News

Equity Actions

COKE

The Company plans to repurchase up to $3.1 billion of its Common Stock, including a modified "Dutch auction" tender offer for up to $2 billion and a separate share purchase agreement with The Coca-Cola Company (COKE). The tender offer's price range is $850 to $925 per share. Under the agreement, COKE will sell shares back to the Company, ensuring it retains a 21.5% ownership post-repurchase. The repurchase is funded through new debt and cash, aiming to optimize the balance sheet while maintaining dividends and a solid credit rating.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:42 pm

GP

GreenPower shares are trading lower following the announcement of a proposed public offering of common shares and warrants.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:38 pm

GP

GreenPower Motor Company Inc. (NASDAQ:GP) announced it has commenced an underwritten public offering in the United States, consisting of common shares and warrants. The offering's size, pricing, or terms were not disclosed, and its completion is subject to market conditions. The company also plans to grant the underwriter, Maxim Group LLC, a 45-day option to purchase up to an additional 5% of the shares and/or warrants offered.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:36 pm

GLLI

Globalink Investment Inc. (NASDAQ:GLLI) has extended the deadline to complete its initial business combination to June 9, 2024, by depositing $60,000 into its Trust Account. This marks the eleventh extension since its IPO on December 9, 2021, and is the sixth of twelve permitted extensions.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:31 pm

TBIO

Telesis Bio Inc. (TBIO) announced a 1-for-18 reverse stock split effective May 9, 2024, to regain compliance with Nasdaq's minimum bid price requirement. The split will reduce outstanding shares from 30.1 million to approximately 1.7 million, with no change in par value. Adjustments will be made to warrants, stock options, equity awards, and equity incentive plans. The reverse split aims to maintain Nasdaq listing by meeting the $1.00 per share minimum bid price.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:29 pm

FIS

Fidelity National Information Services (FIS) shares surged following the announcement of exceeding Q1 financial expectations and a $500 million boost to its 2024 share repurchase plan.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:27 pm

VAC

Marriott Vacations Worldwide (VAC) forecasts FY24 EPS in the range of $7.45-$8.16, compared to the estimated $7.79. The company expects adjusted net income between $295M-$325M and adjusted EBITDA between $760M-$800M, including costs from transactions, integration, and litigation.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:24 pm

USLM

United States Lime & Minerals, Inc. (NASDAQ:USLM) announced a 5-for-1 stock split, effective as a stock dividend after market close on July 12, 2024, for shareholders of record on June 21, 2024. The split aims to make USLM shares more affordable and narrow bid-ask prices. Post-split trading starts July 15, 2024, increasing outstanding shares from 5.7 million to 28.5 million.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:22 pm

ARDX

Ardelyx (NYSE:ARDX) has seen a decrease in short interest, now at 15.3% of its float, down 3.53% since the last report. With 35.02 million shares sold short, it would take about 6.86 days to cover all short positions. This change in short interest could indicate shifting market sentiment towards ARDX, as it has more short interest compared to its peer average of 12.95%.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 8:15 pm

FIS

FIS has announced its commitment to enhancing shareholder returns by increasing its share repurchase goal to approximately $4 billion in 2024, up from the previous target of at least $3.5 billion.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:10 pm