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Equity Actions

KNTK

Kinetik Holdings Inc. (NYSE:KNTK) announced a secondary offering of 11,373,801 shares at $33.75 each by Apache Midstream LLC, a subsidiary of Apache Corporation. Kinetik will not sell any shares nor receive proceeds from the sale. The underwriters have an option to buy an additional 1,706,070 shares. Kinetik's CEO will purchase 14,814 shares at the offering price.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 7:36 am

STI

Solidion Technology has priced a private placement at $3.85M, expected to close on March 14, 2024. The company will issue 5,133,332 units and pre-funded units, subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 7:31 am

ICHR

Ichor announced a public offering of 3,333,334 ordinary shares at $37.50/share, aiming to raise $125M. The proceeds will be used to repay debt and for general corporate purposes, including potential acquisitions and growth opportunities. The offering is expected to close on March 18, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 7:28 am

REVG

REV Group has priced a secondary offering of 7,395,191 shares of common stock at $18 per share. The offering is solely comprised of shares sold by Selling Stockholders, meaning REV Group will not receive any proceeds from this sale. The offering is anticipated to close on March 15, 2024, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 7:26 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) experienced a significant drop after a downgrade from Wells Fargo and a prominent investor, Kevin Paffrath, announced shorting the stock due to concerns over the Federal Reserve's potential actions and broader economic factors. Paffrath highlighted risks including Elon Musk's political involvement, liquidity issues, and geopolitical tensions. He predicts a short-term decline to around $148, with strong support at $101. Tesla's stock closed down 4.54% at $169.48.

Portfolio Pulse from Shanthi Rexaline

March 14, 2024 | 7:24 am

COIN

Coinbase has upsized its offering of convertible senior notes to $1.1 billion, up from the initially announced $1.0 billion. The offering includes a 30-day option for initial purchasers to buy an additional $165 million in notes. The sale is expected to close on March 18, 2024, potentially raising up to $1.24 billion for Coinbase after expenses.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 7:14 am

MTEX

Mannatech, Incorporated (NASDAQ: MTEX) announced the retirement of CEO Alfredo (Al) Bala effective April 1, 2024, and the promotion of Landen Fredrick to President and CEO. Landen, previously President and Chief Operating Officer, has been mentored by Al Bala and is expected to drive operational excellence and execute strategic initiatives.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 7:00 am

STWD

Starwood Property Trust, Inc. (STWD) has successfully priced an upsized private offering of $600 million in 7.250% unsecured senior notes due 2029, increased from an initial $400 million. The notes were priced at their full principal amount, with the settlement expected on March 27, 2024, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 6:23 am

COIN

MSTR

Cryptocurrencies showed mixed performance with Ethereum completing the 'Duncun' upgrade, aimed at reducing data fees on layer-2 networks. Bitcoin reached a new all-time high, attributed to the success of spot BTC ETFs and MicroStrategy's bond offering to buy more Bitcoin. The global cryptocurrency market cap increased by 1.73%. Stocks, including Nvidia, closed lower, while Coinbase and MicroStrategy stocks rose. Analysts predict continued growth for Bitcoin, with potential for a liquidity crisis due to high ETF inflows.

Portfolio Pulse from Mehab Qureshi

March 14, 2024 | 3:52 am

BLK

BTCUSD

ETHUSD

JPM

Blackrock's announcement of a Bitcoin ETF has significantly boosted BTC's market cap, surpassing major corporations combined. Ethereum, with its crucial blockchain infrastructure and potential for an ETF, is poised for substantial growth, potentially exceeding a trillion-dollar market cap. The surge in Ethereum could lead to increased activity in DeFi protocols built on its blockchain, such as Arbitrum, Optimism, and Polygon, and decentralized applications like Uniswap and AAVE. The DeFi ecosystem's development and revenue generation set the stage for unprecedented growth and validation.

Portfolio Pulse from Finanflix

March 13, 2024 | 10:27 pm