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Equity Actions

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

JPM

V

JPMorgan Chase announced that Visa has accepted its Class B-1 Common Stock. This development could potentially strengthen the partnership between the two financial giants, impacting their stock performance.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:45 pm

GEL

Genesis Energy, L.P. (GEL) has upsized and priced its public offering of 7.875% senior unsecured notes due 2032 from $500M to $700M. The offering, co-issued with Genesis Energy Finance Corporation, will be guaranteed by most subsidiaries. The proceeds will be used to redeem 6.250% notes due 2026 and for general purposes, including repaying credit facility borrowings. The offering is set to close on May 9, 2024, with several financial institutions acting as managers.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:19 pm

EVAX

Evaxion Biotech has filed for the offer and sale of up to 19.45 million ordinary shares, represented by 1.945 million American Depositary Shares (ADSs), by selling shareholders.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:12 pm

AGRI

AgriFORCE Growing Systems has filed with the SEC for an offering of up to 432.5 million shares by selling stockholders. This move indicates a significant potential increase in the company's publicly available shares, which could impact its stock price.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:08 pm

COIN

35 analysts have provided diverse opinions on Coinbase Global (NASDAQ:COIN), with recent evaluations showing a mix of bullish to bearish sentiments. The average 12-month price target for COIN has been raised to $228.54, indicating a 28.06% increase from the previous target. Analyst actions include various adjustments to ratings and price targets, reflecting changing market dynamics and company performance. Coinbase's financial performance highlights include a significant market capitalization, impressive revenue growth of 111.98%, a high net margin of 71.83%, and a strong return on equity (ROE) of 16.39%, despite a low return on assets (ROA) of 0.42% and a debt-to-equity ratio below industry average.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 9:01 pm

GTLS

Analysts have mixed views on Chart Industries (NYSE:GTLS), with ratings ranging from bullish to bearish. The average 12-month price target is $191.14, showing a 5.99% increase from the previous target. Recent analyst actions include both upgrades and downgrades, reflecting varied perceptions of the company's performance and market position. Chart Industries, known for its cryogenic equipment and natural gas processing solutions, has shown significant revenue growth but faces challenges in profitability and debt management.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 9:00 pm

NOW

ServiceNow has filed for a mixed securities shelf offering, according to an SEC filing. The size of the offering has not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:57 pm

EVRI

IGT

Everi Holdings Inc. (EVRI) has terminated its stock repurchase program effective May 2, 2024, having repurchased $100 million of its common stock. The company also announced a mandatory sell-to-cover policy for tax withholdings on RSUs and PSUs, effective May 1, 2024, to retain cash for a potential Special Dividend related to its merger with International Game Technology PLC (IGT) and other entities. The Special Dividend will be based on various financial metrics and the company's cash position at the merger's closing.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:55 pm