Streetbeat News

Equity Actions

CDLX

Cardlytics shares are trading lower following the announcement of a $150 million proposed convertible senior notes offering.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 11:55 am

GDS

GDS Holdings Limited has announced a $587 million equity raise aimed at expanding its international business. This strategic move is expected to bolster the company's financial position and support its growth initiatives outside its core markets.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 11:51 am

WEWKQ

Adam Neumann, the ousted co-founder of WeWork, has made a bid exceeding $500 million to reclaim the company, which is currently navigating through bankruptcy. WeWork, once valued at $47 billion, filed for Chapter 11 in November and is working towards restructuring. Neumann's bid comes after his previous interest in a bid alongside Dan Loeb’s Third Point hedge fund, which is not involved in the current offer. SoftBank Group Corp, a key investor in WeWork, wrote off its entire investment in the company in Q4 2023.

Portfolio Pulse from Benzinga Neuro

March 26, 2024 | 11:43 am

GCI

Gannett Co., Inc. (GCI) announced it will repurchase $13.0 million of its 6.00% first lien notes due 2026 for $12.0 million, a discount to par value. The deal, closing on March 28, 2024, includes a waiver from lenders of its senior secured term loan, reducing the amortization payment for Q1 2024 by the repurchase amount.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 11:23 am

BRAG

Bragg Gaming's Board of Directors has established an ad hoc special committee, led by Don Robertson, to explore strategic alternatives for the company. These alternatives could include a sale, merger, financing, further acquisitions, or other strategies. No specific timeline for this strategic review has been set, and there are no guarantees that any transaction will result from this process.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 11:08 am

TRNO

Terreno Realty's stock is trading lower following the announcement of a 5 million share common stock offering.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 10:58 am

MTDR

Matador Resources Company (MTDR) shares are trading lower following the announcement of a 5.25 million share public offering of common stock.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 10:58 am

ARKG

ARKK

COIN

HOOD

NVDA

Cathie Wood's Ark Investment Management has been selling shares of crypto-linked stocks such as Coinbase (COIN), Robinhood (HOOD), and Block (SQ), despite their recent rally alongside cryptocurrency prices. Ark also trimmed its holdings in Nvidia (NVDA) and Zoom (ZM), with Wood citing stretched valuations for Nvidia and selling off nearly all its Nvidia shares. The sales occurred as Ark's flagship ETF, ARKK, and its ARKG ETF continue to adjust their portfolios.

Portfolio Pulse from Shanthi Rexaline

March 26, 2024 | 10:38 am

BABA

Alibaba Group has announced the withdrawal of its logistics subsidiary Cainiao's IPO application on the Hong Kong Stock Exchange. Concurrently, Alibaba proposes to acquire all outstanding shares of Cainiao from minority shareholders, including employees, for $0.62 per share, totaling up to $3.75 billion. Alibaba currently owns approximately 63.7% of Cainiao.

Portfolio Pulse from Charles Gross

March 26, 2024 | 10:33 am

DADA

FINV

GDS

MNSO

MTB

SBLK

TLRY

Dada Nexus Limited reported disappointing fourth-quarter results, leading to a 9.1% drop in pre-market trading. The company also announced a $40 million share repurchase program. Other stocks experiencing pre-market losses include GDS Holdings, Star Bulk Carriers, FinVolution Group, M&T Bank Corporation, Tilray Brands, and MINISO Group, with various factors contributing to their declines.

Portfolio Pulse from Avi Kapoor

March 26, 2024 | 8:54 am