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LM Funding Announces Filing of SPAC Registration StatementLM Funding Announces Filing of SPAC Registration Statement LMFA today announced that LMF Acquisition Opportunities, Inc., a special purpose acquisition company and an indirect subsidiary of the Company ("LMF Acquisition"), filed a Registration Statement on Form S-1 (the "Registration Statement") with the Securities and Exchange Commission ("SEC") in connection with a proposed initial public offering of its units. LMF Acquisition intends to search for a target in the financial services industry, including potentially the financial technology (FinTech) sector, and related sectors. The proposed public offering is expected to have a base offering size of $75 million, or up to $86.25 million if the underwriters' over-allotment option is exercised in full. finance.yahoo.com
NASDAQ:LMFA
by AlenCiken
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Why Qudian Stock Popped higher in 2021?Why Qudian Stock Popped higher in 2021? On Dec 30, 2020 in Brussels, European Union negotiators finalized the terms of a historic investment agreement with China. Seven years in the making, the new Comprehensive Agreement on Investment is expected to grow international trade between the EU and China, facilitate cross-border investment, and "strongly stimulate" the economies of both nations, according to Chinese president Xi Jinping. CNN highlighted the financial services sector, electric vehicles, and healthcare as three areas of the Chinese economy likely to benefit especially from the trade accord. Don't expect to see immediate benefits for Qudian Stock, however. Just because negotiators have signed the deal doesn't mean that their respective legislatures will ratify it, and the Comprehensive Agreement can't go into effect before that happens. According to FT, EU officials are targeting an effective date for the agreement no earlier than 2022. www.fool.com
NYSE:QD
by AlenCiken
GSAT Announces Nokia Deployment Over Licensed Band 53 at SeattleGlobalstar Announces Nokia Deployment Over Licensed Band 53 at Port of Seattle Globalstar today announced that business partner Nokia has entered into an agreement with Tideworks Technology, to deploy Globalstar’s Band 53 spectrum at the Port of Seattle, Terminal 5. This deployment marks the second collaboration between Globalstar and Nokia at a United States Port. Band 53 offers partners secure and reliable connectivity in any environment. Utilizing the band allows customers to deploy considerably less access points than when relying on Wi-Fi leading to superior security, performance and long-term value." Globalstar has worked to develop the Band 53 ecosystem with a group of priority partners like Nokia. Globalstar’s Band 53 is a prime mid-band spectrum resource that we offer to our partners for deployment with customers that otherwise would not have access to the benefits of licensed spectrum. The combination of Nokia’s global reach and Globalstar’s Band 53 terrestrial authorizations in multiple countries around the globe present an exciting opportunity for secure wireless solutions. finance.yahoo.com
AMEX:GSAT
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Bakkt Expected to Go Public via Reverse-Merger with VPCBakkt Expected to Go Public via Reverse-Merger with VPC Impact Acquisition Holdings In a move which is expected to be announced in the coming days/weeks, digital asset service provider ‘Bakkt’ is said to be finalizing a merger with VPC Impact Acquisition Holdings (VPC). The move, first reported by Bloomberg, is believed to be in its final stages. If completed it would be what is known as a ‘reverse merger’. For a company such as Bakkt, which has already raised hundreds of millions from existing investors, why is such a merger necessary? Simply put – it is often a cheaper and quicker way for a company to go public, as opposed to hosting its own IPO. These benefits are the sole reason VPC Impact Acquisition Holdings hosted its own IPO months ago. The company was created with the purpose and intent to go public, and subsequently be acquired by a promising company, such as Bakkt. At the time of its IPO, the company stated, Bloomberg notes in its report that insiders with knowledge on the matter believe that post-merger, the companies will see a valuation of roughly $2 billion USD. Dating back to mid-2018, Bakkt, was one of the most anticipated platforms geared to enter blockchain industry. While the company has come a long way since – becoming a popular service provider for BTC futures – it has experienced various hiccups along the way. Not only have multiple of the platforms expected services been delayed, but it has lost multiple CEO’s since its founding. Hopefully, between the increasing popularity of the digital asset industry itself, increasing volumes of its custodial and futures services, and upcoming loyalty spending program, these struggles are a thing of the past for Bakkt.
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ALDX Announces Positive Top-Line Symptom and Sign ResultsAldeyra Therapeutics Announces Positive Top-Line Symptom and Sign Results from Run-In Cohort of Phase 3 TRANQUILITY Trial in Dry Eye Disease Statistical Significance of Reproxalap Over Vehicle Achieved for Ocular Redness, an FDA-Approvable Sign, and Clinical Symptoms of Ocular Dryness and Discomfort Acute Improvement in Ocular Redness and Symptom Scores Demonstrated Within Minutes of Reproxalap Administration in Dry Eye Chamber Main Cohort of TRANQUILITY Expected to Begin Enrollment in February 2021, Following Completion of Tear RASP Analysis and Finalization of Trial Design finance.yahoo.com
NASDAQ:ALDX
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Why CNET 3D-Printing Stock Soared YesterdayShares of 3D-printing companies rose sharply on Thursday after 3D Systems (NYSE:DDD) reported blockbuster preliminary results for the fourth quarter. This news has given investors hope that other companies in the sector will report similarly strong results. in the first three quarters of 2020, Stratasys's total revenue fell by more than 20% year over year. The strong preliminary results from 3D Systems are sparking investor optimism that the 3D-printing industry is about to come roaring back as manufacturing activity picks up and economies start to recover from the havoc caused by the pandemic. www.fool.com
NASDAQ:SSYS
by AlenCiken
Completes Sale of Cimatron and GibbsCAM Businesses3D Systems Completes Sale of Cimatron and GibbsCAM Businesses and Provides Preliminary Financial Results for Fourth Quarter 2020 - Announces Date of Fourth Quarter and Full Year 2020 Financial Results - Close of sale of non-core software businesses for cash proceeds of approximately $64 million - Repayment of all debt outstanding under senior secured term loan. With the paydown of the term loan, the company is now free of any outstanding debt but continues to have availability under its senior secured revolving credit facility, which remains fully undrawn at this point. - Official termination of ‘At-the-Market’ Equity Offering Program - Strong Q4 preliminary financial performance with expected revenues between $170 million and $176 million - Expected revenue reflects strong organic growth exceeding 20% in both Healthcare and Industrial business units on a consecutive quarter basis. Essentially debt-free now, and free to focus on its two core 3D printer making businesses (industrial and healthcare), the company also noted that in addition to the better-than-expected sales, it is likely to report anywhere from $11 million to $19 million in pro forma profit for Q4. Generally accepted accounting principles (GAAP) results could still be as bad as an $8.6 million loss, but there's at least the possibility that 3D will eke out a GAAP profit of as much as $0.5 million this quarter. finance.yahoo.com
NYSE:DDD
by AlenCiken
Ospraie Management and GPRE Acquire Majority Stake in Fluid QuipOspraie Management and Green Plains Acquire Majority Stake in Fluid Quip Technologies The partnership will immediately leverage their combined technologies and relationships to produce and market sustainable ingredients with increasing protein concentration levels and nutritional characteristics for pet food, aquaculture and animal feed markets globally. The partnership will also help accelerate the installation of Ultra-High Protein technology across Green Plains’ platform, amplify its production capabilities and further expand product offerings to accelerate the growth of Optimal Aquafeed’s precision aquaculture solutions, leveraging previously announced partnerships with Novozymes and Hayashikane Green Plains will look to deploy a number of Fluid Quip’s advancing technologies in sustainable high proteins, renewable corn oil and Clean Sugar Technology (CSTTM) throughout its platform beginning in 2021. The partnership will enhance Fluid Quip’s ability to provide premier technologies and engineering services while accelerating technology development and deployment across biofuels and biochemical facilities worldwide. Ospraie acquired 550,000 warrants for Green Plains stock (each warrant equal to one share of stock) with a strike price of $22 per share. finance.yahoo.com
NASDAQ:GPRE
by AlenCiken
Perion Raises Financial Outlook case studyPerion Raises Financial Outlook, Expects 31% Year over Year Revenue Growth in the Fourth Quarter of 2020 Customers Momentum for Connected TV and "Full-Funnel" Solution Propel Advertising Business "The acceleration of Perion’s advertising revenue growth is being driven by higher-than-expected revenue synergies from recent acquisitions, as well as higher demand across our CTV and video offerings" following the four-year renewal of our partnership with Microsoft, announced earlier this quarter, we see an increased number of publishers who wish to engage with Perion’s search business unit. These achievements underscore the success of our diversification strategy and are expected to contribute to double digit revenue growth rates over the coming years for Perion." e revised guidance for Q4 2020, implies that for the second half of 2020, revenue and Adjusted EBITDA ranges are $183-$188 and $22-$23 million, respectively, compared to the previously provided second half outlook of revenue and Adjusted EBITDA ranges of $164-$174 and $16-$18 million, respectively. finance.yahoo.com
NASDAQ:PERI
by AlenCiken
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The Peck Company Holdings to Acquire iSun Energy LLCThe Peck Company Holdings to Acquire iSun Energy LLC, Award-Winning Solar-Powered Electric Vehicle Infrastructure Provider and Clean Energy Product Innovator Accretive acquisition with $2M near-term revenue commitments, 30-40% project gross margin and a software platform for recurring energy service revenues. Combining Peck’s profitable EPC business for solar, data and electrical contracting with award-winning products and platforms that are modular, scalable and connected is a powerful combination that differentiates the company from other solar EV charging companies. iSun Energy near term pipeline is in Connecticut, Massachusetts, New York and other locations, to be announced shortly. Timely market expansion capitalizes on the Biden administration’s plan to make major public investments in renewables and electric mobility infrastructure, including in 500,000 electric vehicle charging stations. Industry experts anticipate 100 GWs of solar infrastructure will be constructed over the next 5 years, representing 50% growth. finance.yahoo.com
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by AlenCiken
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Blade to become publicly listed on NASDAQ through EXPCBlade to Be Listed on Nasdaq, Creating the Only Publicly Traded Global Urban Air Mobility Company Blade is a global urban air mobility platform, utilizing a technology-powered, asset light model with unrivaled brand recognition Blade to become publicly listed on NASDAQ through a business combination with Experience Investment Corp. (NASDAQ: EXPC), a public entity sponsored by an affiliate of KSL Capital Partners, following expected transaction close in the first half of 2021 Transaction values Blade at an estimated pro forma equity value of $825 million upon consummation Transaction to provide $400 million in gross proceeds, comprised of Experience Investment Corp.’s cash held in trust and an upsized and oversubscribed $125 million fully committed PIPE at $10.00 per share, including investment commitments from affiliates of KSL Capital Partners, Hedosophia, HG Vora Capital Management, and David Geffen, as well as original investors Barry Diller, David Zaslav and Robert W. Pittman The capital raised will enable the Company to expand new urban air mobility routes, its network of captive passenger infrastructure, as well as its consumer-to-cockpit technology stack, accelerating its transition from use of conventional aircraft to Electric Vertical Take-Off and Landing (“eVTOL”) aircraft Urban air mobility is expected to be a $125 billion market by 2025 and grow to $650 billion over the next decade, according to Morgan Stanley Equity Research. www.businesswire.com
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ftiv Announce Execution of Definitive Business CombinationPerella Weinberg Partners and FinTech IV Announce Execution of Definitive Business Combination Agreement Transaction Includes Commitments for a $125 Million Common Stock Private Placement from Leading Institutional Investors Including Fidelity Management & Research Company LLC, Wellington Management and Strategic Investor Korea Investment & Securities Perella Weinberg Partners’ Working Partners and Employees Will Own Approximately 50% of the Company Post-Closing The transaction reflects an implied equity value for the Company of approximately $975 million. Established, Diversified Franchise in the U.S. and Europe With approximately 560 employees. Culture and Alignment Positioned to Drive Shareholder Value The cash component of the consideration will be funded by FinTech IV’s $230 million cash in trust At closing of the transaction, PWP expects to have a debt-free balance sheet with access to additional liquidity under an undrawn revolving credit facility. The business combination is expected to close in the first half of 2021 finance.yahoo.com
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by AlenCiken
AST & Science LLC to Become Public Company via NPA spac companyAST & Science LLC to Become Public Company Through Combination with New Providence Acquisition Corp. (NASDAQ: NPA, NPAUU and NPAWW) - AST & Science LLC ("AST SpaceMobile") is building the first and only space-based cellular broadband network accessible directly by standard mobile phones. - Combined company to have an estimated post-transaction enterprise value of $1.4 billion and will become listed on the NASDAQ under the ticker symbol "ASTS" following expected transaction close in the first quarter of 2021. Expected to have an equity value of approximately $1.8 billion at closing, or 1.4 times calendar year 2024's estimated EBITDA of approximately $1 billion. The company will have no debt on the balance sheet at closing. - Transaction to provide up to $462 million in gross proceeds, comprised of New Providence Acquisition Corp.'s $232 million of cash held in trust (assuming no redemptions) and a $230 million fully committed common stock PIPE at $10.00 per share, including investments from Rakuten, Vodafone, American Tower, UBS O'Connor and a broad base of financial institutions - AST SpaceMobile LLC shareholders Vodafone, Rakuten, American Tower, and Cisneros will increase their equity holding through participation in the PIPE financing in support of AST SpaceMobile's transition into the publicly listed company. Backed by an extensive IP and patent portfolio, AST SpaceMobile will uniquely address the $1 trillion global mobile wireless services market finance.yahoo.com
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by AlenCiken
BARK to List on NYSE Through Merger with STICBARK, A Leading Brand for Dogs, to List on NYSE Through Merger with Northern Star Acquisition Corp. BARK serves over 1 million dogs monthly through BarkBox and Super Chewer subscriptions and broad retail distribution of its comprehensive suite of best-in-class, proprietary products projected revenues of approximately $365 million and gross margins of approximately 60% for fiscal year ending March 31, 2021, 179% YoY increase in revenue from new product lines in first half of FY2021, and net revenue CAGR FY2020-FY2023 of over 40% Transaction values BARK at an enterprise value of approximately $1.6 billion and is expected to provide up to $454 million of gross cash proceeds to invest in the acceleration of new and existing product lines as well as international expansion Top-tier institutional investors, including Fidelity Management & Research Company LLC, Senator Investment Group, the Federated Hermes Kaufmann Funds, and affiliates of the Santo Domingo Group, among others, are supporting the transaction with an upsized $200 million fully-committed PIPE The Northern Star and BARK Boards of Directors have unanimously approved the proposed merger and the related transactions, which are expected to be completed early in the second quarter of 2021, www.prnewswire.com
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by AlenCiken
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500.com Limited Announces Private Placement500.com Limited Announces Private Placement and Appointment of New Officers 500.com Limited (NYSE: WBAI) ("500.com" or the "Company"), an online sports lottery service provider in China, today announced that it has entered into a definitive share subscription agreement (the "Agreement") with Good Luck Information Technology Co., Limited ("Good Luck Information"), a company incorporated in Hong Kong, for the issuance and sale of newly issued Class A ordinary shares of the Company ("Class A Shares"). Pursuant to the Agreement, Good Luck Information will purchase 85,572,963 newly issued Class A Shares for a total purchase price of approximately US$23 million, to be settled in U.S. dollars or in crypto-currencies, including Bitcoin (BHC), to be determined chosen by the Company within one month of the date of the Agreement. Good Luck Information shall make full payment of the purchase price in currencies determined by the Company within one month of the Company's determination. The per share purchase price of US$0.269 is the closing trading price of the Company's ADSs on December 18, 2020, the last trading day immediately preceding the date of the purchase agreement. as adjusted by a 1-to-10 ADS to ordinary shares ratio. Good Luck Information has agreed to subject all the shares it or its affiliate will acquire in the transaction to a contractual lock-up restriction for 180 days after the closing. The closing is expected to take place on or before February 20, 2021, upon satisfaction of customary closing conditions. Good luck Information is controlled by Mr. Man San Vincent Law, a founder of the Company, who currently holds less than 5% of the Company's outstanding share capital. Upon closing, Good Luck Information will hold 16.6% of the Company's issued and outstanding ordinary shares. finance.yahoo.com
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by AlenCiken
Katapult to Become a Publicly Traded Company Through MergerKatapult to Become a Publicly Traded Company Through Merger With FinServ Acquisition Corp. Leading e-commerce focused point-of-sale platform for nonprime consumers Transaction values Katapult at a pro forma enterprise value of approximately $1 billion and equity value of $962 million, representing EV/EBITDA multiples of 14.1x and 6.6x projected EBITDA for 2021 and 2022, respectively. Total consideration paid to Katapult’s existing shareholders will be $833 million. Cash proceeds of the transaction will fund up to $325 million of cash consideration to Katapult’s existing shareholders and $50 million of cash to Katapult’s balance sheet. The cash components of the transaction will be funded by FinServ’s cash in trust of $250 million Transaction includes a $150 million fully committed PIPE at $10 per share from investors led by Tiger Global Management & Neuberger Berman Funds Attractive, profitable financial profile with approximately $250 million of projected revenue (+172% y/y) for 2020 Proven and experienced management team, who will continue leading the combined company The transaction is expected to close during the first half of 2021 www.businesswire.com
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by AlenCiken
TransGlobe Energy Corporation Announces an AgreementTransGlobe Energy Corporation Announces an Agreement to Merge, Extend and Modernize Its Eastern Desert Concessions Micro-cap TransGlobe Energy (TGA +45.1%) has reached an agreement with Egyptian General Petroleum to merge TransGlobe’s three existing Eastern Desert concessions into a new modernized concession agreement. The merged concession will have a new 15-year development term and a 5-year extension option. Improved netbacks and increased cash flows are expected to fund new investments in incremental recovery projects. TGA will pay an initial equalization payment of $15M and signature bonus of $1M on ratification, with five further annual equalization payments of $10M each being made over five years (beginning Feb. 1, 2022 until Feb. 1, 2026). finance.yahoo.com
TLong
by AlenCiken
AvePoint going public via merger with blank-check company ApxtAvePoint, the Largest Microsoft 365 Data Management Solutions Provider, Announces $2bn Merger. - Transaction includes a fully committed PIPE of $140 mm anchored by top-tier investors -Has entered into a definitive business combination agreement - the combined company will be named AvePoint and will remain a publicly traded company listed on the Nasdaq Stock Market under a new ticker symbol, "AVPT." - In addition to the approximately $352 million held in Apex’s trust account as of September 30, 2020, assuming no redemptions by Apex’s public stockholders, the combined company will benefit from $140 million in proceeds from a group of institutional investors participating in the transaction through a committed private investment ("PIPE"). - The transaction, valuing the combined company at an equity value of approximately $2 billion on a pro forma basis after giving effect to the PIPE and assuming minimal Apex stockholder redemptions, is expected to close in the first quarter of 2021. Upon completion of the proposed transaction, existing AvePoint shareholders are expected to own - approximately 72% of the combined company, which is expected to have approximately $252 million of cash on the balance sheet assuming no redemptions by Apex’s public stockholders. finance.yahoo.com
ALong
by AlenCiken