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SVM

Silvercorp Metals Inc. (NYSE:SVM) has offered to acquire all shares of OreCorp Limited (ASX: ORR) that it does not already own for A$0.19 cash plus 0.0967 Silvercorp shares per OreCorp share. The implied value of A$0.5891 per OreCorp share represents a significant premium over recent VWAPs. The OreCorp Board unanimously recommends acceptance of the offer, which is subject to minimal conditions, including a 50.1% minimum acceptance. The transaction aims to create a globally diversified precious metals producer and is not subject to Silvercorp shareholder approval or financing conditions. Silvercorp and OreCorp have terminated their previous Scheme Implementation Deed and will provide further details in their respective Bidder's and Target's Statements.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 10:13 pm

RPHM

Reneo Pharmaceuticals Inc. received a non-binding acquisition proposal from Concentra Biosciences, an affiliate of Tang Capital Partners, to purchase all equity of Reneo for $1.80 per share plus a contingent value right. The offer is contingent on Reneo having at least $75 million in cash and equivalents at closing, after liabilities and costs. Concentra aims to maximize value for Reneo shareholders and manage clinical studies. They have set a response deadline for January 5, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 10:09 pm

GBTC

Barry Silbert resigned as Chairman of Grayscale Bitcoin Trust (GBTC) amid unresolved allegations against his Digital Currency Group (DCG) and an ongoing SEC investigation. Lumida Wealth CEO Ram Ahluwalia suggested that Silbert's departure could grant Grayscale more autonomy, potentially improving its chances of obtaining Bitcoin ETF approval. The SEC has informally indicated the strength of an application, and Ahluwalia compared DCG's situation to Enron's accounting scandal.

Portfolio Pulse from Khyathi Dalal

December 26, 2023 | 9:50 pm

VFS

VinFast Auto Ltd. (NASDAQ:VFS) shares rose after announcing it will showcase its latest electric vehicle concept and the mini eSUV VF 3 at CES 2024. The company will also reintroduce its DrgnFly electric bikes, first shown at CES 2023. The presence at CES 2024 underscores VinFast's commitment to sustainable transportation and innovation. CES 2024 will occur from Jan. 9 to Jan. 12 in Las Vegas. VFS shares closed up 4.88% at $8.38.

Portfolio Pulse from Ryan Gustafson

December 26, 2023 | 9:37 pm

TBLT

Toughbuilt Industries plans to conduct a reverse stock split of its common stock at a ratio of 1 post-split share for every 65 pre-split shares, effective January 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 9:33 pm

CJET

FRZA

GNLN

JZXN

KAVL

LTH

POL

SDA

SPWH

TWOU

VMAR

ZAPP

In Tuesday's after-market session, several consumer discretionary stocks experienced significant movements. Jiuzi Holdings (JZXN) saw a substantial increase of 50.9%, while Forza X1 (FRZA) and Vision Marine (VMAR) also posted gains. Greenlane Holdings (GNLN), SunCar Tech Group (SDA), and Sportsman's Warehouse (SPWH) saw moderate increases. Conversely, Chijet Motor Co (CJET), Zapp Electric Vehicles (ZAPP), Life Time Group Holdings (LTH), Polished.com (POL), 2U (TWOU), and Kaival Brands Innovations (KAVL) experienced declines in their stock prices.

Portfolio Pulse from Benzinga Insights

December 26, 2023 | 9:31 pm

CHRS

ONCT

After Tuesday's after-market session, several healthcare stocks experienced significant movements. Coherus BioSciences (CHRS) led the gainers with a 26.6% rise, while Oncternal Therapeutics (ONCT) saw the largest decline among the losers, dropping 13.7%. The article provides a snapshot of the after-market performance of these healthcare stocks, with market cap information included for context.

Portfolio Pulse from Benzinga Insights

December 26, 2023 | 9:31 pm

AREB

AWIN

BKSY

BYU

DFLI

JTAI

KITT

KULR

LASE

OMEX

RMCO

SGBX

In Tuesday's after-market session, several industrial stocks saw significant movements. Jet AI (JTAI) led the gainers with a 33.2% increase, while Royalty Management Holdings (RMCO) experienced the largest drop among the losers, falling 7.7%. Other notable gainers included Safe & Green Holdings (SGBX), KULR Tech Gr (KULR), Baiyu Holdings (BYU), Laser Photonics (LASE), and Nauticus Robotics (KITT). On the losing side, AERWINS Technologies (AWIN), BlackSky Technology (BKSY), Dragonfly Energy Holdings (DFLI), Odyssey Marine Exploration (OMEX), and American Rebel Holdings (AREB) also saw their stock prices decline.

Portfolio Pulse from Benzinga Insights

December 26, 2023 | 9:31 pm

BLZE

COMS

CYN

SGMA

In Tuesday's after-market session, several information technology stocks experienced significant movements. ComSovereign Holding (COMS) shares increased by 10.5%, while Backblaze (BLZE) rose by 4.9%. Movano (MOVE) and Airspan Networks Hldgs (MIMO) also saw gains of 4.82% and 4.7%, respectively. Conversely, Sigmatron Intl (SGMA) fell by 14.4%, and Cyngn (CYN) dropped by 6.46%, among other decliners.

Portfolio Pulse from Benzinga Insights

December 26, 2023 | 9:31 pm

CHRS

Coherus BioSciences, Inc. (NASDAQ:CHRS) stock surged in after-hours trading following the FDA approval of UDENYCA ONBODY for pegfilgrastim-cbqv. The product is an on-body injector for a biosimilar administered post-chemotherapy to reduce infection risk. The company highlighted the demand for such a device and anticipates a positive reception due to its features like a five-minute injection time and retractable needle mechanism. UDENYCA ONBODY is expected to be commercially available in Q1 2024.

Portfolio Pulse from Ryan Gustafson

December 26, 2023 | 9:30 pm