Streetbeat News

Equity Actions

ATKR

Atkore has revised its fiscal year 2024 outlook, lowering its adjusted EPS forecast to $16.00-$17.00 from the previous $16.50-$17.50, and adjusted its EBITDA estimate to $850M-$900M.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 10:06 am

ESPR

Esperion Therapeutics projects its FY24 revenues to be between $225M-$245M, which includes $20M in non-cash expenses related to stock compensation.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 10:04 am

BHR

Braemar Hotels & Resorts Inc. (BHR) announced a shareholder value plan including the sale of Hilton Torrey Pines for $165 million, repayment of 2024 debt, a $50 million preferred share redemption, and a $50 million common share buyback authorization.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 8:43 am

SKWD

Skyward Specialty Insurance (SKWD) has announced a secondary offering of 4.4 million shares priced at $36.50 per share by The Westaim Corporation. Skyward Specialty will not benefit financially from this offering as all proceeds go to The Westaim Corporation, who will also cover the underwriting discounts and commissions.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 8:04 am

SQ

Block has upsized and priced its offering of senior notes due 2032 to $2 billion, an increase from the initially announced $1.5 billion. The sale is expected to settle on May 9, 2024, with interest payable semi-annually starting November 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 7:57 am

GP

GreenPower Motor Company has announced a public offering priced at $2.3M, involving 1.5M common shares and equal number of warrants, each bundle at $1.55. Warrants are exercisable at $1.82 and expire in three years, with an underwriter option for an additional 5% of shares/warrants.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 7:23 am

HSDT

Helius Medical Technologies announced a public offering of 804,999 Class A common shares and 2,047,222 Pre-Funded Warrants, aiming to raise approximately $6.4 million. The offering includes Series A and Series B warrants to purchase additional shares, with the proceeds intended to fund the company's neuromodulation technology for balance and gait deficits.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 7:19 am

SO

Southern Company (NYSE:SO) has upsized and priced its offering of $1.3 billion in Series 2024A 4.50% Convertible Senior Notes due June 15, 2027, in a private placement to qualified institutional buyers. This represents a $200 million increase over the initial offering size.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 7:16 am

GSK

BioVersys and GSK have expanded their partnership to accelerate the clinical development of alpibectir for treating tuberculosis. GSK will participate in the Series C Extension with an equity investment, extending the financing round by CHF 12.3 million to a total of CHF 44.9 million.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:18 am

CRLBF

CURLF

GTBIF

TCNNF

A report from Viridian Capital Advisors predicts a surge in M&A activity in the U.S. cannabis industry, particularly benefiting Tier 1 multi-state operators (MSOs) like Curaleaf Holdings, Green Thumb Industries, Trulieve Cannabis, and Cresco Labs. The report highlights a widening valuation gap between Tier 1 MSOs and smaller entities, alongside a differential in capital costs that favors larger MSOs. This environment is expected to lead to a period of consolidation, with equity increasingly used over cash for acquisitions due to the anticipation of Schedule 3 and sluggish banking reforms.

Portfolio Pulse from Nicolás Jose Rodriguez

May 06, 2024 | 11:42 pm