Streetbeat News

Equity Actions

OPTN

Optinose projects XHANCE net revenues for FY24 to be between $85M-$95M, with net revenue per prescription surpassing $230. Operating expenses are forecasted to be $95M-$101M, including $6M in stock-based compensation. The company anticipates positive GAAP income from operations for FY25.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 11:07 am

VIRX

Viracta Therapeutics has announced the appointment of Michael Faerm as its new Chief Financial Officer. This strategic move aims to strengthen the company's financial leadership as it progresses through its development phases.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 11:05 am

HYFM

Hydrofarm Holdings Group (HYFM) has reiterated its FY24 outlook, expecting net sales to decrease in the low to teens percentage terms. Despite the sales decline, the company anticipates positive adjusted EBITDA and free cash flow. Capital expenditures are projected to be around $4M-$5M.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 11:03 am

TCS

The Container Store Group has initiated a formal review process to evaluate strategic alternatives and has suspended its financial guidance. The decision comes as the Board of Directors and management team believe the current market value does not reflect the company's intrinsic value. They are committed to acting in the best interests of the company and its stakeholders.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 10:49 am

IGT

Intl Game Tech (IGT) projects Q2 revenue of approximately $1.05 billion, slightly below the estimated $1.09 billion. The company has also upgraded its full-year 2024 outlook, expecting revenues of around $4.4 billion, with operating income margins of about 21% (24% excluding separation and divestiture costs), cash from operations of at least $1.0 billion, and capital expenditures of approximately $500 million.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 10:45 am

TSLA

Former Cruise CEO Kyle Vogt has raised $150 million for The Bot Company, co-founded with ex-Tesla AI head Paril Jain and former Cruise engineer Luke Holoubek. The startup, now valued at $550 million, aims to develop home robots for chores like cleaning and laundry. Key investors include Spark Capital and Nat Friedman. Jain's departure from Tesla, where he contributed to the Full Self-Driving software, is seen as a significant move to advance robotics beyond automotive applications.

Portfolio Pulse from Benzinga Neuro

May 14, 2024 | 10:29 am

AMC

On May 13, 2024, AMC Entertainment completed its at-the-market equity offering launched on March 28, 2024, raising approximately $250 million through the sale of 72.5 million shares at an average price of around $3.45 per share.

Portfolio Pulse from Charles Gross

May 14, 2024 | 10:11 am

LCW

Learn CW Investment Corporation, a special purpose acquisition company, has announced an extension of the deadline to complete its initial business combination from May 13, 2024, to June 13, 2024. This extension, facilitated by a $150,000 deposit into the company's trust account, marks the eighth of up to twelve possible one-month extensions. This decision follows an Extraordinary General Meeting of the Company's shareholders on October 11, 2023.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 8:07 am

MBIN

Merchants Bancorp has priced its common stock offering of 2.4 million shares at $43 per share, expecting to raise approximately $98.04 million, net of underwriting discounts and commissions but before offering expenses. The underwriters also have a 30-day option to purchase up to an additional 360,000 shares at the offering price, less discounts and commissions.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 7:46 am

MKSI

MKS Instruments has priced an upsized private offering of $1.2 billion of 1.25% convertible senior notes due 2030, with net proceeds expected to be around $1.177.7 million, potentially rising to $1.374.2 million if options are fully exercised.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 7:43 am