Streetbeat News

Partnerships

BAER

Bridger Aerospace Group Holdings, Inc. (NASDAQ: BAER, BAERW) has entered into a joint venture partnership with Marathon Asset Management LP and Avenue Sustainable Solutions Fund to purchase four Canadair CL-215T Amphibious Aircraft from the Spanish government for €40.3 million. The acquisition is expected to close in ten business days and is seen as a strategic move to expand Bridger's customer base and create substantial revenue and cash flow growth. Bridger will manage the upgrades of the planes and has the right to acquire them sequentially as they are ready for service, with the first two expected to be operational by Summer 2024 in the EU.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:10 pm

SAP

SAP SE (NYSE:SAP) has announced a multiyear partnership with the Mercedes-AMG PETRONAS F1 Team to start in 2024. The collaboration aims to enhance operational efficiency and data insights for performance gains using SAP's S/4HANA Cloud, private edition, and AI technology. The partnership will focus on managing the cost-cap challenge and optimizing the supply chain, with SAP's technology enabling better resource allocation, cost forecasting, and supply chain management. This alliance is expected to set a new standard for the automotive industry, leveraging Formula One's innovative platform.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:08 pm

INFN

Infinera (NASDAQ:INFN) has been awarded a California Competes grant valued at up to $14 million to expand and modernize its U.S.-based production of next-generation semiconductors. The grant, part of the CHIPS Act initiative, will support Infinera's domestic manufacturing of indium phosphide-based compound semiconductor and monolithic photonic integrated circuit technologies, enhancing America's economic and national security in semiconductor innovation and supply chain resilience.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:07 pm

GDC

GD Culture Group has signed a Memorandum of Understanding with Pier E Media to expand into the TikTok agency business. This strategic move aims to leverage TikTok's growing platform for marketing and content creation services.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:06 pm

SATL

Satellogic, a company specializing in high-resolution Earth observation data, has received a license from the National Oceanic and Atmospheric Administration (NOAA) to serve the US government market. This license allows Satellogic to expand its business with US government agencies, potentially increasing its revenue and market presence in the United States.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:04 pm

SILO

Silo Pharma Inc (NASDAQ:SILO) has entered into an exclusive license agreement with Medspray Pharma BV for its soft mist nasal spray technology, which will be used for Silo's intranasal drug SPC-15, aimed at treating PTSD, anxiety, Alzheimer's, and anorexia. The technology promises better nasal deposition and reduced systemic absorption, enhancing patient safety and therapeutic delivery. SPC-15, a 5-HT4 receptor agonist, could benefit from the FDA's 505(b)(2) pathway if successful in trials. Silo Pharma is conducting preclinical studies with Columbia University.

Portfolio Pulse from Vandana Singh

November 21, 2023 | 1:00 pm

SILO

Silo Pharma has entered into an exclusive license agreement with Medspray Pharma BV for intranasal technology to be used in SPC-15, a treatment for PTSD. This agreement could potentially enhance Silo Pharma's product offering and market position in the treatment of PTSD.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 12:59 pm

EADSY

Airbus SE (OTC:EADSY) has secured an order for 60 A320neo Family aircraft from SMBC Aviation Capital, adding to SMBC's total order of nearly 340 aircraft of this type from Airbus. This deal reaffirms the long-term strategic partnership between the two companies and supports Airbus' position as a leading aircraft manufacturer. The A320neo Family features new technologies for increased fuel efficiency and operational savings. Airbus also recently signed a deal with Ethiopian Airlines for 11 A350-900s. Airbus shares (EADSY) closed 1.03% higher at $36.38 on Monday.

Portfolio Pulse from Nabaparna Bhattacharya

November 21, 2023 | 12:34 pm

TAC

TransAlta Corporation has announced an investment plan of $3.5 billion to achieve a growth target of 1.75 GW by 2028, aiming for an annual EBITDA of $350 million. The company will focus on customer-centered renewables and storage, expanding its development pipeline to 10 GW. Additionally, TransAlta's Board has approved a 9% dividend increase. A joint development agreement with Hancock Prospecting has been announced to develop clean energy solutions. The company forecasts an adjusted EBITDA of $1.15 to $1.3 billion and FCF of $450 to $600 million for 2024.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 12:21 pm

CNTB

Connect Biopharma Holdings Limited (NASDAQ:CNTB) has entered into an exclusive license and collaboration agreement with Simcere Pharmaceutical Co., Ltd. to develop and commercialize rademikibart in Greater China. The deal includes a ¥150 million RMB upfront payment to Connect Biopharma, up to ¥875 million RMB in milestone payments, and royalties on net sales.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 11:06 am