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Equity Actions

CHH

WH

Choice Hotels International, Inc. (CHH) is encouraging Wyndham Hotels & Resorts, Inc. (WH) shareholders to tender their shares before the March 8, 2024 deadline. This move is aimed at persuading Wyndham's board to engage constructively with Choice on a transaction agreement. Choice may extend or terminate the exchange offer based on shareholder participation and is considering nominating independent directors to Wyndham's board.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 11:36 am

IXHL

Incannex Healthcare announced the resignation of CFO and Secretary Madhukar Bhalla, effective February 28, 2024, with no disagreements cited. Joseph Swan, currently Treasurer and Controller, will assume the CFO and Secretary roles on February 29, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 11:21 am

MP

MP Materials Corp. (NYSE:MP) announced a private offering of $650 million 3.00% Convertible Senior Notes due 2030, upsized from $500 million. The offering includes an option for initial purchasers to buy an additional $97.5 million in notes, with a closing date expected on March 7, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 11:18 am

LUXH

Luxurban Hotels announced that Shanoop Kothari and the company executed an amended and restated employment agreement on March 1. Kothari will transition from Co-CEO and CFO to the roles of sole CEO and acting CFO.

Portfolio Pulse from Charles Gross

March 05, 2024 | 11:12 am

SPMYY

VIAV

VIAVI Solutions (NASDAQ:VIAV) has announced the acquisition of Spirent Communications (OTC:SPMYY) for approximately $1.3 billion in cash. The deal, expected to close in the second half of 2024, aims to combine VIAVI's communications test and measurement technologies with Spirent's testing and assurance solutions, targeting synergies of $75M. The acquisition will be funded through existing cash, a $800 million term loan, and a $400 million investment from Silver Lake, leading to Ken Hao joining the VIAVI board.

Portfolio Pulse from Lekha Gupta

March 05, 2024 | 11:10 am

FXI

SPY

VGK

China's President Xi announced plans for major reforms to deepen in an all-round way, as reported by Reuters citing state media. This move could have significant implications for global markets and companies with exposure to China.

Portfolio Pulse from Charles Gross

March 05, 2024 | 10:56 am

TSLA

Gordon Johnson of GLJ Research questions the high valuation of Tesla's energy storage business compared to its electric-vehicle manufacturing downturn. He highlights the discrepancy in valuation multiples between Tesla and global battery leaders like LG Chem, suggesting Tesla's energy segment is overvalued. Johnson also criticizes Tesla's in-house 4680 battery cells as a 'manufacturing disaster.' Tesla's stock experienced a 7% drop, attributed to weakening EV demand and competition, with analysts predicting another quarter of subpar performance.

Portfolio Pulse from Shanthi Rexaline

March 05, 2024 | 9:44 am

KYN

Kayne Anderson Energy Infrastructure Fund (KYN) reported its net assets as $1.8 billion and net asset value per share at $10.69 as of February 29, 2024. The asset coverage ratios under the 1940 Act for indebtedness and total leverage were 642% and 451%, respectively.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 7:02 am

UTME

UTime has been granted a 180-day extension by Nasdaq to meet the minimum bid price rule, allowing the company more time to comply with stock listing requirements.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 6:51 am

HLNE

Hamilton Lane Incorporated (HLNE) has announced a public offering of 1,922,322 shares of Class A common stock, aiming to raise approximately $210 million. The offering, involving both Hamilton Lane and a selling stockholder, is set to close on March 7, 2024. Hamilton Lane plans to use its share of the proceeds to settle cash exchanges of membership units in Hamilton Lane Advisors, L.L.C. held by certain members, while it will not benefit financially from the selling stockholder's share sales.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 6:42 am