Streetbeat News

Regulatory

PBTS

Powerbridge Technologies Co., Ltd. (PBTS) has requested a hearing with the Nasdaq Hearings Panel after receiving a notice of expected delisting due to non-compliance with the minimum bid price requirement. PBTS previously regained compliance but has since fallen below the $1.00 bid price threshold again. The company is seeking an extension to meet the Nasdaq's continued listing standards.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:34 pm

CGC

A study from Georgia College & State University and Kennesaw State University found that marijuana legalization correlates with improved college basketball recruiting but a decline in football recruiting. The study, published in the Journal of Sports Economics, used data from 2003 to 2019. It suggests that the NBA's lenient stance on marijuana may influence basketball recruits, while the NFL's stricter policy could deter football recruits. The study also notes the evolving policies of professional leagues, including the NBA's removal of marijuana from its banned substances list and the NFL's relaxed off-season testing. Canopy Growth Corp. (NASDAQ:CGC) is involved in research with the NHL Alumni Association on cannabinoids for post-concussion treatment.

Portfolio Pulse from Joana Scopel

December 21, 2023 | 9:30 pm

HASI

Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) plans to revoke its REIT status and become a C-Corporation effective January 1, 2024. The Board believes this will not materially impact business operations and will allow tax-efficient operation due to existing NOLs. The change is aimed at providing greater flexibility to capitalize on clean energy opportunities.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:28 pm

RKLB

Rocket Lab USA, Inc. has announced through an SEC 8K filing that it is scheduled to deliver space vehicles for launch by 2027. The company will also operate the satellites through 2030, with an option to extend operations until 2033.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:26 pm

SQFT

Presidio Property Trust, Inc. (Presidio) has regained compliance with Nasdaq's minimum bid price requirement. The company's common stock maintained a closing bid price of $1.00 or more for 10 consecutive business days, satisfying Nasdaq Listing Rule 5550(a)(2). Nasdaq has confirmed that Presidio has met the requirement and considers the matter closed.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:25 pm

BNZI

YA II PN, Ltd. has reported a 9.9% stake in Banzai International according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:22 pm

ABBV

ALPN

Alpine Immune Sciences has amended its 2020 agreement with AbbVie regarding acazicolcept. The amendment halts new enrollment in the phase 2 study for systemic lupus erythematosus. Final analysis is expected by end of 2024. AbbVie retains an option to license acazicolcept, exercisable upon receiving a data package from Alpine.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:22 pm

ABBV

ALDX

Aldeyra Therapeutics announced that AbbVie has extended the period during which it can exercise an option to enter a license agreement for reproxalap in dry eye disease. AbbVie can now exercise this option until the earlier of 10 business days post-FDA approval or 18 months from the effective date. If exercised, a $5M non-refundable payment will be credited against the upfront cash payment.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:19 pm

GLDD

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) announced that its MARAD Title XI Financing application for the offshore wind rock installation vessel, the Acadia, has been updated to 'Completed', signaling progress towards final approval. The company has a strong relationship with MARAD and is advancing in the U.S. offshore wind market. The Acadia, being built by Philly Shipyard, Inc., is a U.S.-flagged Jones Act compliant vessel, and one of only four in the world with its capabilities. Despite some market turbulence, Great Lakes has secured multiple U.S. contracts and continues to bid on projects, supporting the Biden Administration's renewable energy goals.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:13 pm

HUDA

Hudson Acquisition I Corp (HUDA) received a notice from Nasdaq's Listing Qualifications Department for non-compliance with the minimum market value requirement.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:09 pm