Stockwinners Market Radar for August 25, 2023 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:22 EDT FSD Pharma rebuts 'frivolous' claims of GBB Drink Lab - FSD Pharma (HUGE) provides clarity and rebuttal to frivolous claims disparaging the company and its groundbreaking efforts relating to its development of an innovative rapid alcohol detoxification drink, using its proprietary formulation developed to reduce the impacts of alcohol consumption. In May 2023, GBB Drink Lab now operating under Jupiter Wellness (JUPW) filed a lawsuit against FSD Pharma and FSD Biosciences, and issued a press release alleging a material breach of a mutual nondisclosure agreement and trade secret misappropriation. These claims are categorically untrue. GBB's public statements about its knowledge of this technology are, at best, suspect. GBB's website states that its own supplement's alleged efficacy "was established via rigorous blood alcohol content testing on dozens of test subjects," rather than any sort of formal, clinical validation effort. Further, GBB's press release states that "Our patented formula accelerates the process of converting alcohol to sugar in the body." But it is well-recognized and understood by the scientific community that at no point in the process of metabolizing alcohol is it converted into sugar. FSD Pharma believes that GBB's failure to appreciate this basic fact demonstrates a lack of understanding regarding the basics of alcohol metabolism in the body. GBB was recently acquired by Jupiter Wellness. In a press release announcing the closing of the acquisition on August 11, 2023, Jupiter claims that GBB's proposed product now called Safety Shot "lowers blood alcohol content by up to 50% in just 30 minutes," another extraordinary claim for which GBB provides no support whatsoever. In 2022 GBB drink lab tried to sell itself to FSD Pharma. During the due diligence process, FSD Pharma determined that GBB's proposed product did not meet FSD Pharma's expectations, that GBB did not provide requested information, and that GBB repeatedly tried to change the proposed structure of any deal. Furthermore, FSD Pharma had serious concerns about the patents at issue. Since then, FSD Pharma, through its team of world class scientists, doctors, and researchers, established a research program and developed its own products. Upon learning of the FSD Pharma's efforts, GBB filed a frivolous lawsuit and baselessly demanded tens of millions of dollars. FSD Pharma will vigorously defend against these claims, and plans to assert its own claims for damages that will expose GBB and its baseless assertions. FSD Pharma continues to work on development of its alcohol detoxification products for the recreational and medical markets. FSD Pharma's team of scientific experts will adhere to the strict regulatory standards and perform the clinical studies one would expect of any respectable company like FSD Pharma.

17:58 EDT Abercrombie & Fitch CFO Lipesky sells 25,000 class A shares - In a regulatory filing, Abercrombie & Fitch EVP, COO, and CFO Scott Lipesky disclosed the sale of 25,000 class A common shares of the company on August 23 at a price of $48.58 per share.

17:14 EDT Gartner CIO Diliberto sells 7,938 common shares - In a regulatory filing, Gartner chief information officer Michael Patrick Diliberto disclosed the sale of 7,938 common shares of the company on August 23 at a price of $335.09 per share.

16:54 EDT Innoviva names Stephen Basso as CFO, effective August 21 - Innoviva announced the appointment of Stephen Basso as its CFO, effective August 21. Basso brings more than 30 years of experience in the financial services industry and financial leadership in the pharmaceutical industry. Prior to joining Innoviva, Basso served as CFO and COO at Cybrexa Therapeutics.

16:46 EDT NewLink and NaaS reach strategic partnership with CR Capital MGMT - On August 24, a strategic partnership was forged between NewLink and NaaS Technology with CR Capital MGMT, synergizing their distinct proficiency in capital and asset management as well as energy services. This collaboration sets the stage for joint initiatives encompassing the incubation, investment and operationalization of digital and intelligent applications within the realm of new energy. Furthermore, the two entities will align on the construction of integrated energy ports, the orchestration of new energy infrastructure projects, and the innovative securitization of new energy assets. By expanding the scope of new energy business scenarios, this collaborative endeavor promises to invigorate green and low-carbon energy development.

16:31 EDT Live Oak Bank names William Losch president - Live Oak Bancshares announced its Board of Directors has appointed William C. (BJ) Losch, III as President of Live Oak Bank effective Friday. Losch will continue to serve in his role as Chief Financial Officer of Live Oak Bancshares. Losch brings a wealth of experience and knowledge as Live Oak continues to expand its lending franchise, while launching new products and solutions to support its growing customer base. As CFO and Chief Banking Officer, Losch's impact on company performance has exceeded expectations and he is well suited to take on this new leadership role for the company. "The Board and I are beyond excited to see BJ take on this role and lead Live Oak into the future. He has been instrumental in making numerous positive changes to how we operate the business and manage our financial performance, while embracing our strong commitment to employees and customers," said Live Oak Chairman and CEO James S. (Chip) Mahan III. "Huntley Garriott, who has been serving as President since 2018, worked tirelessly through many challenges to place Live Oak on incredible footing, and we are very grateful for his contributions to our company. We wish him well in his next endeavor."

16:28 EDT Walmart CEO McMillon sells 9,708 common shares - In a regulatory filing, Walmart president and CEO C. Douglas McMillon disclosed the sale of 9,708 common shares of the company on August 24 at a price of $158.2932 per share.

16:14 EDT Atlantic Coastal Acquisition to extend deadline to complete business combination - Atlantic Coastal Acquisition Corp. announced that its Board of Directors approved to extend the date by which the company would be required to consummate a business combination. This announcement follows a prior announcement on August 18, 2023 whereby the company announced it would redeem its public shares. This Extension is subject to approval of the company's shareholders at the Special Meeting that is currently scheduled for September 8, 2023. For further information related to Extension and/or Special Meeting, please see the company's Schedule 14A Preliminary Proxy Statement that was filed on August 22, 2023, as well as any updates to this filing. The company also received a notice of non-compliance from Nasdaq for failure to timely file its second quarter 2023 Form 10-Q. The company is working to complete its Form 10-Q filing and expects to have this completed in the coming weeks.

16:12 EDT Airspan Networks announces NYSE approval of compliance plan - Airspan Networks announced that on August 23, 2023, it received a letter from NYSE American stating that NYSE American reviewed and accepted the plan of compliance submitted by the Company in response to NYSE's June 9, 2023 letter informing the Company that it was not in compliance with the continued listing standards set forth in Sections 1003(a)(i) and (ii) of the NYSE American Company Guide. NYSE's August 23 letter provides an extension for compliance with Sections 1003(a)(i) and (ii) of the NYSE American Company Guide until December 9, 2024. The NYSE American staff will review the Company periodically for compliance with the initiatives outlined in the Plan. If the Company is not in compliance with the continued listing standards by December 9, 2024, or if the Company does not make progress consistent with the Plan during the Plan period, the NYSE American staff will initiate delisting proceedings as appropriate.

16:09 EDT Joint Corp. receives delinquency notification letter from Nasdaq - The Joint Corp. announced it received a delinquency notification letter from the Listing Qualifications Staff of the Nasdaq Stock Market LLC on August 22, 2023 due to the company's non-compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the company's failure to timely file its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023. The Listing Rule requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission.

16:06 EDT Heliogen announces 1-for-35 reverse stock split - Heliogen announced that its Board of Directors has approved a 1-for-35 reverse stock split of Heliogen's common stock. Heliogen's stockholders previously approved the Reverse Stock Split at Heliogen's Annual Meeting of Stockholders held on August 3, 2023 and gave Heliogen's Board of Directors discretionary authority to select a ratio for the Reverse Stock Split ranging from 1-for-10 shares to 1-for-40 shares. The Reverse Stock Split is expected to be effective at 5:00 p.m., Eastern Time, on August 31, 2023. Beginning on September 1, 2023, Heliogen's common stock is expected to begin trading on a split-adjusted basis on the New York Stock Exchange. Following the Reverse Stock Split, the common stock will continue trading on the NYSE under the symbol "HLGN", but will trade under a new CUSIP number: 42329E204. Heliogen's publicly traded warrants will continue to be traded on the NYSE under the symbol "HLGN.W" and the CUSIP number for the warrants will remain unchanged.

16:01 EDT Summit Financial Group raises quarterly dividend 10% to 22c per share - Payable on September 29 to common shareholders of record as of the close of business on September 15.

15:47 EDT Fifth Wall Acquisition Corp III trading resumes

15:19 EDT FG Merger Corp trading resumes

14:46 EDT Hostess Brands jumps 23% after Reuters reports on takeover interest - Shares Hostess Brands are up $5.13, or 23%, to $27.31 after Reuters said the maker of Twinkies and other snack goods is exploring a potential sale amid takeover interest from larger rivals. Reference Link

13:16 EDT Boeing up 2% to $220.59 after Bloomberg report on China deliveries

13:02 EDT Baker Hughes reports U.S. rig count down 10 to 632 rigs

12:27 EDT Baidu announces expansion of Apollo Go autonomous ride-hailing platform - Baidu announced the expansion of Apollo Go, its autonomous ride-hailing platform, to expand its driverless car service to cover Wuhan Tianhe International Airport. Baidu said: "This marks the first time in China that an autonomous ride-hailing service has been established between urban areas and an airport, as well as the first instance of Chinese autonomous vehicles connecting both urban roads and highways. The service is currently offered to selected Apollo Go users by invitation, and will be made available to the general public in September."

12:00 EDT Nordstrom falls -10.6% - Nordstrom is down -10.6%, or -$1.79 to $15.03.

12:00 EDT Hawaiian Electric falls -17.6% - Hawaiian Electric is down -17.6%, or -$2.09 to $9.77.

12:00 EDT Ubiquiti rises 14.0% - Ubiquiti is up 14.0%, or $21.63 to $175.60.

11:40 EDT BlackBerry extends rally, shares up 17% to $5.18 after Bloomberg report

10:50 EDT 3M charged with FCPA violations by SEC, to pay more than $6.5M - The Securities and Exchange Commission announced that 3M Company agreed to pay more than $6.5M to resolve charges that it violated the books and records and internal controls provisions of the Foreign Corrupt Practices Act. The SEC's order finds that employees of a 3M wholly owned subsidiary based in China arranged for Chinese government officials employed by state-owned health care facilities to attend overseas conferences, educational events, and health care facility visits, ostensibly as part of the Chinese subsidiary's marketing and outreach efforts. However, the arrangements to attend the events were often a pretext to provide the Chinese government officials with overseas travel, including tourism activities, to induce them to purchase 3M products. "This matter highlights the dangers to companies with global operations posed by inadequate internal accounting controls," said Charles Cain, Chief of the SEC's FCPA Unit. "Those dangers were exacerbated here by complicit third-party vendors." Reference Link

10:02 EDT Verizon, Tennessee Titans enter connectivity partnership - The Tennessee Titans announced a new partnership with Verizon that will provide connectivity to improve the experience for fans at Nissan Stadium. As the "Official 5G Network of the Tennessee Titans," Verizon will provide connectivity engineered to enhance the fan experience - from helping fans communicate inside the stadium to catching and sharing all the action on the field. In addition to launching Accelerated Access, which uses opt-in facial authentication tech to verify identities for access control and accelerated ticketing in near real time, Verizon recently added dozens of 5G Ultra Wideband cell sites at Nissan Stadium, which will provide enhanced wireless performance to customers in the stands starting at regular season games and events this year.

10:00 EDT DigitalOcean falls -12.2% - DigitalOcean is down -12.2%, or -$3.85 to $27.66.

10:00 EDT Ouster rises 4.6% - Ouster is up 4.6%, or 26c to $5.96.

10:00 EDT ASE Technology rises 7.6% - ASE Technology is up 7.6%, or 57c to $8.10.

09:47 EDT AMC Entertainment falls -5.5% - AMC Entertainment is down -5.5%, or -79c to $13.58.

09:47 EDT Hawaiian Electric falls -21.0% - Hawaiian Electric is down -21.0%, or -$2.50 to $9.37.

09:47 EDT Gap rises 4.2% - Gap is up 4.2%, or 40c to $9.93.

09:39 EDT South Plains Financial Inc trading resumes

09:21 EDT NYSE to commence delisting proceedings against F45 Training - The New York Stock Exchange announced that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of F45 Training Holdings - ticker symbol FXLV - from the NYSE. Trading in the company's common stock will be suspended immediately. "NYSE Regulation has determined that the company's common stock is no longer suitable for listing based on 'abnormally low' price levels, pursuant to Section 802.01D of the Listed Company Manual. The company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the company's common stock upon completion of all applicable procedures, including any appeal by the company of the NYSE Regulation staff's decision," the exchange stated. Reference Link

09:13 EDT Hudson Pacific divests two office properties for $72.5M in proceeds - Hudson Pacific announced that it has divested through separate transactions two Los Angeles office properties, 604 Arizona and 3401 Exposition, for aggregate gross proceeds of $72.5M before prorations and closing costs. Combined, the two transactions will result in approximately a $22 million gain to be recognized in the third quarter. The company used net proceeds to repay amounts outstanding on its unsecured revolving credit facility.

09:03 EDT BAE Systems awarded $190M contract modification - BAE Systems was awarded a contract modification exceeding $190M for continued production of the Bradley A4. The award includes more than 70 M2A4 Infantry Fighting Vehicles and the M7A4 Fire Support Team Vehicles. This award follows the Early Order Material awards in August and November 2022. Continued upgrades to the A4 from the M2A2 Operation Desert Storm - Situational Awareness variant is part of the Army's combat vehicle modernization strategy to ensure force readiness of the ABCT.

09:02 EDT Lennox selling European Process Cooling business to Glen Dimplex Group - Lennox has entered into a definitive agreement to sell its Hyfra Process Cooling business unit, headquartered in Krunkel, Germany, to the Glen Dimplex Group. The closing of the transaction is subject to obtaining required consents and customary closing conditions. The transaction is expected to be completed in Q4. Glen Dimplex is a privately owned, Irish headquartered, international manufacturing group.

08:42 EDT Logiq provides update on major corporate initiatives - The company said, "DataLogiq Subsidiary SPAC Merger: The company has continued to progress toward the completion of the SPAC merger. Logiq and the SPAC have completed their response to an additional round of comments received from the Securities and Exchange Commission regarding the merger and Form S-4 filing which was submitted on August 14, 2023. Typical SPAC transactions have been averaging 10-12 months for completion, and the process for Logiq's SPAC merger is currently at 10 months. Post-DLQ SPAC Plans: The company believes the currently struggling IPO market increases the attractiveness and value of public reporting companies like Logiq and particularly for M&A candidates looking to access to the capital markets. The previously announced merger exclusivity offered to the PrivCo announced in November expired on December 31, allowing Logiq to pursue negotiations with other potentially more favorable private companies looking to go public. The ideal target would enable Logiq to qualify for a listing on a senior stock exchange. Management is currently in late-stage discussions with several target companies that are greater in valuation than the aforementioned PrivCo. Strategic M&A: Over the last several years, Logiq has pursued an aggressive strategic M&A program, with two acquisitions under DLQ which were accretive and have continued to scale. Battlebridge, for example, secured a major customer win late in 2022 that is contributing significantly to revenues, and with this driving a substantial margin expansion. The current industry environment continues to present accretive M&A opportunities that could contribute to significant revenue growth if completed. Given the 'target-rich' landscape, the company is evaluating several potential acquisitions that could create an exciting platform for customers, strategic partners and investors. Park Place Payments: Business is solid, although the funding environment has been challenging and growth is dependent upon funding. The SPAC transaction is expected to bring better funding opportunities as well as jumpstart growth across the board. Park Place's model is highly transferrable to emerging markets and there are several opportunities Logiq is exploring in SE Asia and two African nations. Additionally, there are two new product lines Logiq is planning to launch through Park Place's nationwide sales force later this year, including a new SME loan program.". According to Logiq CEO, Brent Suen: "We continued to be in active discussions with M&A targets involved in Adtech, direct-to-consumer sales, specialized digital advertising, and performance marketing. All are generating revenue growth and are break even to profitable. Our goal with the acquisition of such targets are for Logiq to realize revenues well in excess of current levels."

08:33 EDT Workhorse Group hosts webcast for stockholder questions - Workhorse Group held a webcast to answer stockholder questions in advance of the Company's upcoming Special Meeting scheduled for August 28, 2023. Highlights from the webcast include the following commentary from management: Workhorse's intended use for the proceeds raised from the share issuance..."We need additional capital to fund our next phase of execution. From a position of strength, we're exploring several financing options. Those options will only be available to us if shareholders vote FOR the proposal. Primarily, we will use the proceeds to expand and advance our product roadmaps, continue to support our Aero business as it goes into production and continue to invest in supplier tooling and assembly equipment as we move into production of the W56." - Rick Dauch. The plan for value creation..."Simply put, we need our stockholders to help us build a bridge to long-term growth and stockholder value. We need to be able to issue shares to get financing so we can fund our execution and our growth plans. We're confident the important work underway and the progress we are making across our EV portfolio will deliver value to shareholders over the long-term." - Bob Ginnan. Workhorse's plans to achieve 2023 revenue guidance... "We have three clear, actionable priorities for the remainder of the year. Secure the HVIP voucher process in California - that is a critical enabler for us; sell the W4 CCs - based on input from dealer meetings we've had the last few weeks, we think we can do so; and ramp up W750 production." - Dauch. The Company's belief in selling every truck it makes... "I believe that [we can sell every truck we make]. I say that not based on my opinion or dream, but based on the feedback we're getting from our dealers." - Dauch. Why stockholders should vote FOR the proposal..."We're on the precipice of success here at Workhorse. The market shift to EV is coming. It is coming slower that we thought or than anybody forecasted, and we need your help to extend our runway to get there. If you look at the CARB rules and the clean fleet rules specifically, by 2030 50% of all the Class 4-6 step van vehicles will be EV. We are positioning ourselves to ride that wave." - Dauch

08:21 EDT Janssen submits sBLA for expanded Rybrevant approval to FDA - The Janssen Pharmaceutical Companies of Johnson & Johnson announced the submission of a supplemental Biologics License Application, or sBLA, to the U.S. Food and Drug Administration seeking the expanded approval of Rybrevant in combination with chemotherapy for the first-line treatment of patients with locally advanced or metastatic non-small cell lung cancer, or NSCLC, with epidermal growth factor receptor exon 20 insertion mutations. "The sBLA is being reviewed by the FDA through the Real-Time Oncology Review - RTOR - program," the company noted.

08:15 EDT Vior issues shares to Osisko Mining for Blondeau-Guillet option - VIOR announced the issuance of 535,714 Vior common shares to Osisko Mining, to satisfy the second anniversary payment obligation pursuant to the Option Agreement signed on August 24, 2021, and amended as of August 24, 2022, for the Blondeau-Guillet gold property in the Abitibi-Temiscamingue region of Quebec. The share issuance was approved by the TSX Venture Exchange and is subject to a 4 month and one day hold period. The Option Agreement is considered to be a "related party transaction" for purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions and Policy 5.9 - Protection of Minority Security Holders in Special Transactions of the TSXV, as Osisko is a "related party" of the Corporation by virtue of holding beneficial ownership over more than 10% of the outstanding common shares of the Corporation. Osisko is also considered to be a Non-Arm's Length Party of Vior under the policies of the TSXV. The Corporation is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Corporation is exempt from the formal valuation requirement in section 5.4 of MI 61-101 in reliance on sections 5.5(a) and (b) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Corporation's market capitalization, and no securities of the Corporation are listed or quoted for trading on prescribed stock exchanges or stock markets. Additionally, the Corporation is exempt from minority shareholder approval requirement in section 5.6 of MI 61-101 in reliance on section 5.7(b) of MI 61-101 as the fair market value of the transactions, insofar as it involves interested parties, are not more than 25% of the Corporation's market capitalization. Immediately following the share issuance, Osisko will own approximately 14.09% of the issued and outstanding common shares of Vior on an undiluted basis, and approximately 14.89% on a partially diluted basis, presuming the exercise of all outstanding warrants held by Osisko.

08:11 EDT CLS Holdings CEO anticipates profitability in 2024 - CEO Andrew Glashow said, "As we reflect on the closing chapter of another challenging year in the cannabis industry, it is with gratitude and a strong sense of purpose that I speak to you today about CLS Holdings' resilience, innovation, and accomplishments in this past fiscal year, despite the ever-turbulent landscape we operate in. As many of you know, my name is Andrew Glashow; I am the CEO and Chairman of CLS Holdings USA, Inc., following a 3-and-a-half-year tenure as Chief Operating Officer, during which I was responsible for building the diversified business infrastructure of our cultivation, manufacturing, production, distribution, and retail companies known as City Trees and Oasis Cannabis Dispensary. As I arrive at the completion of my first year as CEO, I wanted to take the time to reflect on the trials and triumphs of the past fiscal year, and my unwavering commitment to lead the company through its next phases of growth and profitability. While we successfully overcame the turbulence brought about by COVID, we continue to operate in a regulatorily restrictive environment that brings its own set of challenges. We find ourselves trying to excel in a political and regulatory landscape that has, at times, been both unsupportive and devoid of leadership. But in the face of these challenges, our optimism burns ever brighter as we draw strength from our proven strategies and trusted team to navigate the intricacies of a highly regulated landscape. We acknowledge the hurdles and recognize that change may be slow to come....All of this is to say, we are surviving; we are thriving; we're rapidly paying off our debt; we're avoiding the need for more capital; we're not going to do anything that doesn't have the opportunity to make this company money in the short term; and with this, we are anticipating profitability in the 2024 fiscal year. Over the past year, and the past six years at that, we have not only maintained our course but propelled ourselves forward. Our accomplishments are a testament to the dedication of each member of CLS- from our devout shareholders and tenured management team, to, most importantly, our exceptional employees and loyal customers. Together, we have navigated an intricate regulatory landscape, spearheaded initiatives that have elevated our operational excellence, and strategically positioned CLS Holdings for sustainable growth and profitability. Our journey has seen us forge partnerships, harness cutting-edge technologies, and hone our focus on areas of strength, all while remaining true to our commitment to transparency and shareholder value. With each step forward, we remain resolute in our pursuit of excellence, our dedication to responsible growth, and our unshakable belief in a future where CLS Holdings stands as a paragon of success in the dynamic and ever-evolving cannabis industry."

08:06 EDT Bigg Digital Assets enters agreement to fully acquire TerraZero - BIGG Digital Assets has entered into a definitive amalgamation agreement to acquire all of the outstanding shares of TerraZero Technologies not already owned by BIGG, for total consideration of approximately 62M common shares of BIGG, valued at approximately $20M. The company said, "TerraZero is a leader in the Web3/Metaverse sector with a roster of clients that include Miller Lite, PwC, Atlantic Records, Warner Records and prominent brands across the industries of finance, beauty, consumer packaged goods, food and beverage, and others." The Transaction is expected to close in September 2023 and is subject to TerraZero shareholder approval, notification to the Canadian Securities Exchange and other customary closing conditions. In Q1 and Q2 of 2023, TerraZero generated an aggregate of approximately $1.5M in revenue and 161% growth year over year for the same period, while launching activations for clients including PwC, Fidelity International, Warner Music, leading fashion brands, and others. TerraZero expects to spend the second half of 2023 expanding its business plans to focus on the development of its own highly scalable Intraverse technology ecosystem, which is expected to launch in Q1 2024. Upon closing, TerraZero will become a wholly-owned subsidiary of BIGG. Each TerraZero common share and TerraZero preferred share not owned by BIGG or dissenting shareholders of TerraZero will be exchanged for approximately 1.69 BIGG Shares for a total of approximately 62M BIGG Shares. The Consideration represents a total offer value of approximately $0.54 per TerraZero Share, which is calculated based on the volume weighted average price of BIGG Shares on the CSE for the 20 trading days preceding August 22, 2023 of approximately $0.32 per BIGG Share. Each outstanding option of TerraZero shall be exchanged for options of BIGG that will entitle the holder to acquire and receive, upon the exercise thereof, BIGG Shares. Each outstanding warrant of TerraZero will automatically become exercisable into BIGG Shares pursuant to their existing terms. At closing, existing BIGG and TerraZero shareholders will own approximately 80% and 20% of BIGG, respectively. The Transaction will be implemented by way of an amalgamation under the Business Corporations Act and will require the approval of: at least 66 2/3% of the votes cast by the holders of TerraZero's common shares and TerraZero preferred shares, voting together as a single class, present in person or represented by proxy at a special meeting to consider the Transaction; and at least 66 2/3% of the votes cast by the holders of TerraZero's common shares and TerraZero's preferred shares, each voting as a separate class, present in person or represented by proxy at a special meeting to consider the Transaction. The completion of the Transaction will also be subject to regulatory approvals and closing conditions customary in transactions of this nature. TerraZero shareholders, including all TerraZero directors and officers, representing in aggregate 59% of the votes attached to outstanding TerraZero common shares and 100% of the votes attached to outstanding TerraZero preferred shares, have entered into escrow and support agreements in favor of the Transaction, whereby signatories have agreed to vote their shares in TerraZero in favour of the Transaction. As of the date hereof, BIGG is the registered owner of approximately 30% of the outstanding TerraZero common shares and 34% of the outstanding TerraZero preferred shares and will be permitted to vote its shares of TerraZero at the TerraZero special meeting to consider the Transaction. On closing, TerraZero shareholders, including all TerraZero directors and officers, representing in aggregate 72% of the votes attached to outstanding TerraZero common shares and 100% of the votes attached to outstanding TerraZero preferred shares are expected to have entered into escrow and support agreements, pursuant to which the BIGG Shares received by such TerraZero Shareholders as Consideration under the Transaction will be subject to voluntary escrow resale restrictions for periods ranging from between 4 to 24 months commencing from the closing date of the Transaction.

08:04 EDT Wallbox teams with Kia America to bring bidirectional charging to EV9 customers - Wallbox announced it is working with Kia America to bring bidirectional charging to Kia's EV9 customers. The companies plan to offer Wallbox's second generation DC bidirectional charger, Quasar 2, to Kia EV9 customers starting in the first half of 2024. Wallbox expects Quasar 2 to be the first EV charger allowing bidirectional charging with the Kia EV9.

07:58 EDT Digital World Acquisition falls 3.8% after Trump posts mug shot on rival X

07:49 EDT Kaman CFO James Coogan to step down - Kaman announced that James Coogan, CFO, will step down from his role effective August 28. Carroll Lane, senior VP and segment lead of Engineered and Precision Products, will serve as Interim CFO until a permanent successor is appointed. Coogan, who is departing Kaman to pursue another opportunity outside the aerospace and defense industry, will remain with the company until October 23 to ensure a smooth transition. Kaman has initiated a search to identify the company's next chief financial officer with the assistance of an executive search firm.

07:10 EDT NFI Group completing comprehensive refinancing plan - NFI Group is in the process of completing all elements of its previously announced comprehensive refinancing plan to raise total gross proceeds of approximately $444M, with completion of closing expected later today. Under the Refinancing Plan, NFI is: completing amendments, including financial covenant waivers, to the Company's existing North American senior secured credit facility and UK senior secured credit facility; completing a $251.2M permanent repayment to the Secured Facilities and extending their maturities to April 30, 2026; completing equity financings for total gross proceeds of approximately $263.6M through a combination of two private placements and a bought deal public offering of subscription receipts, which are being exchanged for common shares of NFI; completing a $180.4M second lien debt financing; and extending the maturity of Manitoba Development Corporation's and Export Development Canada's senior unsecured debt facilities to April 30, 2026; and effecting a $25M permanent repayment of the EDC facility, which was viewed as a temporary financing to support working capital. "The completion of this Refinancing Plan positions NFI to capitalize on our record $6.7B backlog and current unprecedented market demand, while remaining laser focused on operational execution," said Paul Soubry, President and CEO of NFI. "Through this plan, we are improving our liquidity, strengthening our balance sheet, increasing our financial flexibility, and establishing a covenant profile matched to our projected financial trajectory to the benefit of all NFI stakeholders." The parties to the transactions of the Refinancing Plan have commenced the closing process, with funding expected to be initiated and received shortly. NFI intends to issue a further news release later today to confirm completion of funding and closing of the Refinancing Plan.

07:03 EDT Auddia announces filing of delayed 10-Q quarterly report - Auddia was not able to file its Quarterly Report for the quarter ended June 30, 2023 by the August 21, 2023 extended filing deadline established by the Securities and Exchange Commission. The Company, therefore, is a late filer with respect to such report. The delay in the filing of the Company's Quarterly Report relates principally to completion of the review process by the Company's new independent accountant, CohnReznick LLP. The Company filed the Quarterly Report on August 24, 2023.

06:54 EDT Magnum Opus Acquisition receives noncompliance notification from NYSE - Magnum Opus Acquisition announced that on August 22, as a result of the company's failure to timely file with the Securities and Exchange Commission, or SEC, its quarterly report on Form 10-Q for the quarter ended June 30, it received a notice from the NYSE stating that the company is not in compliance with Section 802.01E of the NYSE Listed Company Manual. Under the NYSE Rules, the company has six months from the due date of the June Form 10-Q, or until February 21, 2024, to file the June Form 10-Q.

06:31 EDT Merck begins Phase 3 clinical program for MK-0616 - Merck announced the initiation of the company's Phase 3 clinical program, CORALreef, for MK-0616, an investigational, oral proprotein convertase subtilisin/kexin type 9 inhibitor, being evaluated for the treatment of adults with hypercholesterolemia. This is the first Phase 3 clinical program for an oral PCSK9 inhibitor. The first participants are now enrolling in two registrational Phase 3 studies evaluating low-density lipoprotein cholesterol reduction: CORALreef Lipids and CORALreef HeFH. Merck also plans to initiate a Phase 3 cardiovascular outcomes study, CORALreef Outcomes by the end of 2023. PCSK9 is a validated target for lowering LDL cholesterol. However, there are no oral PCSK9 inhibitors available to physicians and patients. The Phase 3 CORALreef program follows robust Phase 2b results presented at ACC.23/WCC, in which MK-0616 significantly reduced LDL cholesterol compared to placebo at all doses studied in participants with hypercholesterolemia with a broad spectrum of atherosclerotic cardiovascular disease risk, including participants on high-intensity statin therapy. MK-0616 was generally well-tolerated.

06:17 EDT Merck, Eisai provide update on Phase 3 LEAP-010 trial - Merck (MRK) and Eisai (ESAIY) provided an update on the Phase 3 LEAP-010 trial evaluating KEYTRUDA, Merck's anti-PD-1 therapy, plus LENVIMA, the orally available multiple receptor tyrosine kinase inhibitor discovered by Eisai, as a first-line treatment for patients with recurrent or metastatic head and neck squamous cell carcinoma whose tumors express PD-L1. The primary endpoints of the study were overall survival, progression-free survival, and objective response rate. Two planned interim analyses were conducted by an independent Data Monitoring Committee over an 11-month period. In the first analysis, KEYTRUDA plus LENVIMA showed a statistically significant improvement in PFS and ORR versus KEYTRUDA plus placebo. At the second analysis, KEYTRUDA plus LENVIMA did not demonstrate an improvement in OS compared to KEYTRUDA plus placebo, and the likelihood of reaching the protocol-specified threshold for statistical significance for OS was evaluated by Merck and Eisai and deemed to be low. Accordingly, the study will be closed, and the companies are informing investigators of this decision. The safety profile of KEYTRUDA plus LENVIMA was consistent with previously reported data on the combination. A full evaluation of the data from this study, including pre-planned subgroup analyses, is ongoing. The companies will work with investigators to share the results with the scientific community.

06:06 EDT Novo Nordisk 'delighted' with results from STEP HFpEF study of semaglutide - Novo Nordisk announced results from the phase 3 STEP HFpEF trial showing that compared with placebo, once-weekly semaglutide 2.4 mg led to large reductions in heart failure-related symptoms, physical limitations and improvements in exercise function, and resulted in greater weight loss in adults with heart failure with preserved ejection fraction, or HFpEF, and obesity. The findings, presented today at the European Society of Cardiology Congress in Amsterdam, Netherlands and published simultaneously in the New England Journal of Medicine, show large improvement in patient-reported Kansas City Cardiomyopathy Questionnaire Clinical Summary Score, or KCCQ-CSS, measuring the symptoms and physical limitations of HFpEF. The mean change in the KCCQ-CSS was a 16.6-point increase at 52 weeks with semaglutide 2.4 mg vs 8.7 points with placebo, leading to an estimated treatment difference of 7.8 points. Mean change in body weight was 13.3% reduction with semaglutide 2.4 mg vs. 2.6% reduction with placebo, leading to an estimated treatment difference of 10.7% weight reduction. STEP HFpEF also demonstrated a mean increase in 6-Minute Walking Distance of 21.5 metres at 52 weeks with semaglutide vs. 1.2 metres with placebo leading to an estimated treatment difference of 20.3 meters. Semaglutide also reduced inflammation, as measured by high-sensitivity C-reactive protein. The safety profile of semaglutide 2.4 mg was consistent with previous studies; fewer serious adverse events were observed with semaglutide 2.4 mg compared with placebo. "We are delighted with the results from STEP HFpEF, which show that semaglutide 2.4 mg is able to ease the disease burden for people with HFpEF and obesity in a substantial way," said Martin Lange, executive vice president and head of Development at Novo Nordisk. "These results come just weeks after the topline findings of our semaglutide 2.4 mg and cardiovascular outcomes trial were announced and reinforce the potential of semaglutide 2.4 mg to enhance cardiovascular care, beyond weight management. We look forward to working closely with the clinical community and regulators to help realise this potential over the coming months."

05:46 EDT Meta introduces Code Llama, AI tool for coding - Meta on Thursday announced the debut of Code Llama, which can generate code and debug human-written work, under the same community license as Llama 2, free for research and commercial use. The company said "We believe an open approach to AI is best for developing new AI tools that are innovative, safe and responsible, so we're releasing Code Llama for both research and commercial use under the same community license as Llama 2." Reference Link

05:09 EDT Hesai announces initial determination from ITC regarding Ouster patent case - Hesai (HSAI) announced developments in its patent infringement lawsuit against Ouster (OUST). On April 11, Ouster filed a complaint against Hesai and Hesai Technology Co. in the United States District Court for the District of Delaware for alleged patent infringement. At the same time, Ouster filed a companion complaint at the U.S. International Trade Commission, or ITC, requesting an investigation into Hesai and its affiliated entities pursuant to Section 337 of the Tariff Act of 1930 based on substantially similar allegations. Hesai denies all of Ouster's allegations. The Delaware Action is presently stayed. On June 22, Hesai filed a motion to terminate the ITC Action. In its motion, Hesai argued that Ouster's infringement allegations are barred by a prior settlement and arbitration agreement between Hesai and Velodyne Lidar. Velodyne and Ouster completed a merger of equals transaction in February 2023. Hesai argued that, pursuant to the settlement agreement, resolution of the issues should be decided in arbitration rather than in district court or the ITC. On August 24, the presiding Administrative Law Judge, or ALJ, issued an order granting Hesai's motion to terminate the ITC Action. The order is an initial determination that is subject to review by the ITC Commissioners.