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Equity Actions

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

BNTC

Steven Oliveira has reported a passive stake of 8.89% in Benitec Biopharma as of April 22, according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:48 pm

PARA

Skydance has proposed a revised deal to merge with Paramount, offering a $3 billion cash infusion to help pay down debt and buy back stock. This move aims to appease investors and secure a merger with Paramount, which has been under consideration for sale by its controlling shareholder, Shari Redstone. The investment would come from RedBird and David Ellison's family, enhancing the terms for Paramount shareholders.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:45 pm

FULT

Fulton Financial announced in a conference call that it plans to sell a $2 billion securities portfolio of Republic Bank.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:12 pm

FULT

Fulton Financial announced in a conference call that it expects to receive $1 billion from the Federal Deposit Insurance Corporation (FDIC) as part of a transaction.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:11 pm

VINC

Vincerx Pharma's shares are trading higher after the company announced a proposed underwritten public offering of common stock and warrants, reversing earlier losses.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:04 pm