Mergers and Acquisitions
MYTE and Richemont have signed an agreement for Mytheresa to acquire YOOX NET-A-PORTER (YNAP), creating a leading global multi-brand digital luxury group. The transaction includes a €555m cash position, a 33% equity stake for Richemont in Mytheresa, and a €100m revolving credit facility for YNAP. The deal is expected to close in H1 2025, subject to regulatory approvals. Read More
EPAM has announced the acquisition of First Derivative, a Northern Ireland-based managed services and consulting business for the capital markets industry. This strategic move, expected to close in Q4 2024, will enhance EPAM's capabilities in capital markets, banking operations, and asset servicing, adding over 1,800 employees and more than 100 new clients. Read More
Cannae Holdings (NYSE: CNNE) and KDSA Investment Partners have agreed to acquire a majority stake in The Watkins Company, a 156-year-old American heritage brand known for high-quality flavoring products. The transaction, expected to close in October 2024, aims to drive growth and innovation in Watkins' portfolio of spices, seasonings, and extracts. Read More
Pangaea Logistics Solutions (Nasdaq: PANL) has announced a definitive agreement to purchase the remaining 50% equity ownership of its consolidated subsidiary, Nordic Bulk Partners, from HS Nordic for $17.2 million in cash. The transaction is expected to be completed by November 1, 2024. Read More
Barnes Group has agreed to be acquired by affiliates of Apollo Global Management in an all-cash transaction valued at approximately $3.6 billion. Shareholders will receive $47.50 per share in cash, representing a 22% premium over the closing price on June 25, 2024. The acquisition, expected to close before Q1 2025, will take Barnes private while retaining its name and operations. Read More
Columbia Financial, Inc. has announced the completion of the merger between Freehold Bank and Columbia Bank, effective October 5, 2024. Both banks were previously separate subsidiaries of Columbia Financial. This strategic move consolidates Columbia Financial's banking operations under a single entity, potentially streamlining operations and enhancing efficiency. Read More
Financial Results and Outlook
Shell has released its third quarter 2024 outlook, forecasting production across various segments and providing financial projections. The company expects Adjusted Earnings between -$0.4 billion and $0.2 billion for Renewables and Energy Solutions, and between -$0.7 billion and -$0.5 billion for Corporate Adjusted Earnings. Final Q3 results are slated for October 31, 2024. Read More
Gilead Sciences presented additional data from its Phase 3 PURPOSE 2 trial at the 5th HIV Research for Prevention Conference. The trial evaluated the efficacy and safety of twice-yearly lenacapavir for HIV prevention among cisgender men and gender-diverse people, showing a 96% reduction in HIV infections compared to background incidence. Gilead plans to begin regulatory filings for lenacapavir for PrEP by the end of 2024. Read More
Ashford Hospitality Trust (NYSE: AHT) has released its preliminary third quarter 2024 results. The company expects to report an Occupancy rate of approximately 71%, with an Average Daily Rate of approximately $187, resulting in a RevPAR of approximately $132. This represents a 1.6% decrease in Comparable RevPAR compared to Q3 2023. Read More
Rush Street Interactive (NYSE: RSI) has announced the release date for its third quarter 2024 earnings report. The company will disclose its financial results on Wednesday, October 30, 2024, after the market closes. Read More
Kinross Gold (TSX: K; NYSE: KGC) will release its third quarter 2024 financial statements and operating results on November 5, 2024, followed by a conference call on November 6, 2024. Read More
Ero Copper Corp. (TSX: ERO, NYSE: ERO) has announced the release date for its Q3 2024 results, which will be disclosed on November 5, 2024. A conference call will follow on November 6, 2024 to discuss these results. Read More
Celestica has announced its upcoming Q3 2024 financial results conference call and virtual investor meeting, scheduled for October 23, 2024. The meeting will provide an overview of Celestica's performance and future opportunities. Read More
Associated Capital Group has reported a preliminary range for its third quarter book value of $41.85 to $42.05 per share, excluding the $2 per share special dividend. Detailed financial results will be released in November. Read More
Major Contracts and Partnerships
Plug Power has signed a binding framework agreement with Allied Green Ammonia for 3 GW of electrolyzer capacity for AGA's green hydrogen to ammonia plant in Australia. The collaboration aims to build one of the world's largest green ammonia production facilities, with delivery expected in late 2026/early 2027. Read More
Community Health Systems (NYSE: CYH) and Denim Health have announced a development partnership to implement conversational AI in CHS's Patient Access Center (PAC). The partnership aims to enhance patient experience, streamline agent workload, and create organizational savings while maintaining human interactions for complex needs. Read More
Paysafe has launched a strategic partnership with Gaming Innovation Group (GiG), making Paysafe the endorsed payments platform for operators using GiG's CoreX solution across multiple regions. Read More
Funding and Investments
SKYX Platforms Corp. has secured an $11 million strategic investment through a new class of preferred stock, convertible at $2.00 per common share with an 8% annual dividend. The investment is led by Lance Shaner, Chairman & CEO of Shaner Hotel Group. Read More
Scholar Rock Holding (Nasdaq: SRRK) has announced a proposed public offering of $275 million in common stock and pre-funded warrants. The company intends to use the proceeds for commercialization of apitegromab, advancing clinical programs, developing its technology platform, and general corporate purposes. Read More
Nyxoah has raised $27 million through its at-the-market offering, selling 3 million shares to a single U.S.-based healthcare investor. This funding reinforces Nyxoah's focus on its upcoming Genio® launch in the U.S. Read More
Obsidian Energy (TSX: OBE) has increased its syndicated credit facility to $300 million from $260 million, providing additional liquidity for growth and debt repayment. Read More
CNH Industrial Capital has priced $500 million in 4.500% notes due 2027. The proceeds will be used for working capital and potentially repaying existing debt. Read More
Product Launches and Market Expansions
Elanco Animal Health (NYSE: ELAN) has received FDA approval for Credelio Quattro™ (a chewable parasiticide tablet for dogs), which offers protection against six parasites. The company plans to launch Credelio Quattro in Q1 2025. Read More
Installed Building Products (IBP) has announced the acquisition of Wholesale Insulation Supply, Inc., adding over $22 million in annual revenue to IBP's portfolio. The acquisition expands IBP's geographic presence and enhances its ability to meet customer needs in the region. Read More
Technological Announcements and Innovations
Vincerx Pharma reported positive initial clinical data from its ongoing VIP943 Phase 1 dose-escalation study, showing promising results in treating AML, HR-MDS, and B-ALL. Read More
GE HealthCare has completed Phase I of its development program for a novel manganese-based MRI contrast agent, demonstrating high tolerability and effectiveness as an alternative to gadolinium-based agents. Read More
PROCEPT BioRobotics has received FDA approval to initiate a clinical study comparing Aquablation therapy to radical prostatectomy in treating localized prostate cancer. The trial seeks to offer a potential breakthrough in reducing treatment-related harm. Read More
Corporate Compliance and Notifications
China SXT Pharmaceuticals (NASDAQ: SXTC) has received a notification from Nasdaq stating that the company no longer meets the minimum bid price requirements. If SXTC fails to meet this requirement by April 1, 2025, it may be eligible for an additional compliance period. Read More
Sonder Holdings Inc. (NASDAQ: SOND) has received a letter from Nasdaq's Listing Qualifications Department stating the company's non-compliance with Nasdaq Listing Rule 5250(c)(1) due to delinquent filings. Read More
Luna Innovations (Nasdaq: LUNA) has received a staff determination letter from Nasdaq due to its failure to comply with Nasdaq Listing Rule 5250(c)(1). If LUNA does not appeal by October 8, trading of its common stock will be suspended on October 10. Read More
