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Equity Actions

LRFC

Logan Ridge Finance Corporation (LRFC) reported preliminary Q4 results with a Net Investment Income of $0.6M or $0.22/share, and a decrease in Net Asset Value from $34.78 to $33.34 per share QoQ. The company also announced a delay in its investor conference call due to additional time needed for year-end financial statements related to a tax item, which is not expected to impact net asset value or net income.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 6:11 am

GEHC

GE HealthCare Technologies Inc. has upsized its secondary offering to 14 million shares from the initially announced 13 million. The company itself is not selling any shares and will not receive proceeds from this offering or the associated debt-for-equity exchange.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 6:02 am

LCW

Learn CW Investment Corporation, a special purpose acquisition company, has extended the deadline for its initial business combination from March 13, 2024, to April 13, 2024. This is achieved by depositing $150,000 into its trust account, marking the sixth of up to twelve possible one-month extensions.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 5:23 am

ARKF

ARKK

ARKW

COIN

Ark Invest, led by Cathie Wood, sold 106,000 shares of Coinbase Global Inc (COIN) valued at $27.15 million across three ETFs: ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and Ark Fintech Innovation ETF (ARKF), despite Bitcoin's recent all-time highs. This sale followed a previous day's sale of $68.7 million in Coinbase shares. Additionally, Ark Invest made key trades by buying shares in Sea Ltd (SE), NU Holdings Ltd (NU), Pinterest Inc (PINS), and Moderna Inc (MRNA), while selling shares of CRISPR Therapeutics AG (CRSP).

Portfolio Pulse from Benzinga Neuro

March 13, 2024 | 3:57 am

SBIG

Springbig (OTC:SBIG), a SaaS-based marketing solutions and loyalty programs provider, reported a Q4 revenue of $6.8 million, marking a 1% year-on-year growth. The company saw a 10% rise in subscription revenue, with a gross margin of 70%. The net loss improved to $3.2 million from $4.5 million the previous year. For 2023, Springbig's revenue was $28.1 million, a 5% increase from 2022, with subscription services driving growth. The company anticipates 2024 revenues between $29 to $32 million and a positive Adjusted EBITDA of $3.5 to $5.0 million.

Portfolio Pulse from Nicolás Jose Rodriguez

March 12, 2024 | 10:22 pm

QFIN

Qifu Technology has announced a new share repurchase plan, allowing for the repurchase of up to $350 million worth of its American depositary shares or Class A ordinary shares over the next 12 months starting from April 1, 2024. Additionally, the company has reaffirmed its existing semi-annual dividend policy.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 10:09 pm

ALTU

ALTUU

Altitude Acquisition announced it will not complete an initial business combination within the required timeframe, leading to the liquidation of its trust account.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 9:40 pm

EAF

Nilesh Undavia, holding about 5.9% of GrafTech's shares, issued an open letter to shareholders expressing distrust in the current board's ability to conduct a successful CEO search.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 9:10 pm

COIN

Coinbase Global Inc (NASDAQ:COIN) announced a proposed private offering of $1 billion in Convertible Senior Notes due 2030, with an option for an additional $150 million. The proceeds will be used to manage existing debts and for general corporate purposes, including potential acquisitions. Concurrently, CEO Brian Armstrong and top executives sold approximately $64 million worth of Coinbase shares. Despite a year-to-date increase of 47%, COIN shares dropped 2.80% after hours.

Portfolio Pulse from Adam Eckert

March 12, 2024 | 9:07 pm

PHUN

Phunware, Inc. (NASDAQ:PHUN) reported Q4 financial results with a loss of $17.62 per share, missing the consensus estimate of a $2.00 per share loss. However, sales of $4.8 million exceeded expectations of $2.1 million, showing a slight increase from the previous year. The company has undertaken strategic cost-cutting and equity raises to improve its balance sheet and eliminate debt, aiming for future growth. Phunware has also complied with Nasdaq's listing requirements as of March 12.

Portfolio Pulse from Erica Kollmann

March 12, 2024 | 9:07 pm