Silicon Metals ( SLCND ) on Monday said it intends to issue up to 4.44M units at a price per unit of $0.135. The units will consist of one common share of the company and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one common share at an exercise price of $0.175 for a period of 24 months. The terms of the warrants will also include an accelerator p...
Silicon Metals ( SLCND ) on Monday said it intends to issue up to 4.44M units at a price per unit of $0.135. The units will consist of one common share of the company and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one common share at an exercise price of $0.175 for a period of 24 months. The terms of the warrants will also include an accelerator provision whereby, if the price of the common shares on the CSE closes at $0.60 or higher for a period of ten consecutive trading days, the company may accelerate the expiry date of the warrants to thirty days from the acceleration trigger. The company intends to use the aggregate proceeds of the offering for advancement and development of the company's properties, as well as for general working capital purposes. Source: Press Release More on Silicon Metals Corp. Financial information for Silicon Metals Corp.
Edwin Tan/E+ via Getty Images So, I am here again, with my analysis of Merck & Co., Inc. ( MRK ). In my previous article , " Merck: Why Investors Should Remain Bullish Despite Patent Risks, " I discussed why the subcutaneous version of pembrolizumab , called Keytruda Qlex, has a high chance of becoming Merck's next blockbuster, as well as the follow-up data from the Phase 2b KEYNOTE-942 trial, eva...
Edwin Tan/E+ via Getty Images So, I am here again, with my analysis of Merck & Co., Inc. ( MRK ). In my previous article , " Merck: Why Investors Should Remain Bullish Despite Patent Risks, " I discussed why the subcutaneous version of pembrolizumab , called Keytruda Qlex, has a high chance of becoming Merck's next blockbuster, as well as the follow-up data from the Phase 2b KEYNOTE-942 trial, evaluating Moderna's ( MRNA ) intismeran autogene+Keytruda. In this one, I'll focus on Merck's latest milestones, including its acquisition of Terns Pharmaceuticals ( TERN ) and the FDA approval of Idvynso on April 21 , and, more importantly, what I expect from its Q1 earnings. Terns' TERN-701 strengthens Merck's position in the chronic myeloid leukemia market So, let me remind you that on March 25, it announced the acquisition of Terns for $5.7 billion . And a month later, on April 24, it was informed about the end of the waiting period under the Hart-Scott-Rodino Act. Simply put, I believe Merck will close this deal before the end of May. Source: Table was made by Author And in my view, TERN-701 is the "crown jewel" for which Merck paid billions of USD. It is a highly selective allosteric inhibitor of the kinase activity of BCR-ABL1 , specifically targeting the ABL1 myristoyl pocket. Moreover, in preclinical studies, TERN-701 was more selective than Novartis' ( NVS ) Scemblix [asciminib, a first-in-class BCR-ABL1 STAMP inhibitor]. But still. Was this deal a smart strategic move for Merck? I would say, yes. First of all, on December 8 last year , Terns released updated results from the ongoing CARDINAL study [ NCT06163430 ]. Namely, I want to talk about patients with chronic-phase CML [ chronic myeloid leukemia ] who were heavily pretreated with a median of 3 TKIs, and were taking TERN-701 at doses of 320 mg or 500 mg once daily. Source: Terns Pharmaceuticals So, in 30 efficacy-evaluable patients, the overall MMR [major molecular response] rate at 24 weeks was 80%. Moreover, ...
Intel Corp. has kicked off the sale of investment-grade debt to help finance a $14.2 billion deal to retake full ownership of an Irish semiconductor plant. The company is marketing bonds is five tranches, with maturities ranging from five to 40 years, according to a person familiar with the matter. Initial price talk for the longest-tenored note is for a spread of about 1.65 percentage points abov...
Intel Corp. has kicked off the sale of investment-grade debt to help finance a $14.2 billion deal to retake full ownership of an Irish semiconductor plant. The company is marketing bonds is five tranches, with maturities ranging from five to 40 years, according to a person familiar with the matter. Initial price talk for the longest-tenored note is for a spread of about 1.65 percentage points above Treasuries, the person added, asking not to be identified because they’re not authorized to speak publicly Intel said on April 1 it would take on about $6.5 billion in new debt to help repurchase a 49% stake in its Fab 34 joint venture in Ireland. Apollo Global Management Inc. paid $11.2 billion for the stake in 2024, providing cash that Intel said it needed for new production technology at the facility and others in the US. The chipmaker held fixed-income investor calls on Friday, a day after releasing a far-brighter-than-expected sales forecast that sent Intel shares to a record high. The outlook boosted confidence that Chief Executive Officer Lip-Bu Tan is making progress on a comeback plan that aims to position the company to benefit from the buildout of artificial intelligence computing. Citigroup Inc. , JPMorgan Chase & Co. , Barclays Plc , Bank of America Corp. and Deutsche Bank AG are helping run the bond sale, the person said. Intel last sold dollar notes in February 2024 , according to data compiled by Bloomberg. Its foundry joint venture with Brookfield Infrastructure Partners raised nearly $12 billion through three offerings in 2024 and 2025 .
Aspire Biopharma ( ASBP ) announced on Monday that its board of directors has authorized the repurchase of up to $5M of the company's common stock. The company said that the authorization reflects the board's confidence in the company's balance sheet strength, the value of its drug development pipeline and supplement business, and the potential value creation from the recently announced binding le...
Aspire Biopharma ( ASBP ) announced on Monday that its board of directors has authorized the repurchase of up to $5M of the company's common stock. The company said that the authorization reflects the board's confidence in the company's balance sheet strength, the value of its drug development pipeline and supplement business, and the potential value creation from the recently announced binding letter of intent (LOI) to acquire Dura Driver Control Systems. The company expects the purchase will be funded through existing cash on hand. ASBP +4.68% premarket to $0.2146. Source: Press Release. More on Aspire Biopharma Holdings, Inc. Aspire Biopharma secures up to $21M in convertible preferred stock financing Financial information for Aspire Biopharma Holdings, Inc.
This week brings what could be Jerome Powell’s final presser as Fed chair, and we’ll also see PCE inflation data. Plus, it’s a huge week for earnings, with about a third of S&P 500 companies reporting.
This week brings what could be Jerome Powell’s final presser as Fed chair, and we’ll also see PCE inflation data. Plus, it’s a huge week for earnings, with about a third of S&P 500 companies reporting.
violetkaipa/iStock via Getty Images Investment Thesis Annaly Capital Management, Inc. ( NLY ) has earned its place in the high-yield, ice cube business model category. Its historical price decline and inability to recoup (at least fully) the lost Book Value "BV"/share is the primary reason. This trend is particularly notable given NLY's many accretive equity raises on its shares that typically tra...
violetkaipa/iStock via Getty Images Investment Thesis Annaly Capital Management, Inc. ( NLY ) has earned its place in the high-yield, ice cube business model category. Its historical price decline and inability to recoup (at least fully) the lost Book Value "BV"/share is the primary reason. This trend is particularly notable given NLY's many accretive equity raises on its shares that typically trade at a premium to BV. Someone might say this categorization is harsh, since it puts it on par with much riskier businesses I have covered and also categorized as having an ice-cube model, such as various BDCs (private credit companies whose tax laws limit their ability to build loan-loss reserves) and Oxford Lane Capital Corporation ( OXLC ), a wildcatter whose portfolio mostly consists of the equity portion of CLOs—the riskiest tranche in the CLO structure. What sets NLY apart from its peers is the quality of its portfolio, consisting mostly of Mortgage-Backed Securities (MBS), whose principal and interest are guaranteed by Government-Sponsored Entities (GSEs), such as the Federal National Mortgage Association ( FNMA ). This means that NLY's ice cube doesn't melt systematically but only occasionally and mainly because of exorbitant leverage that forces fire sales at adverse market conditions (resulting in capital losses) to avoid margin calls (as discussed below). The cumulative return analysis below suggests that investors' returns improve with the length of the holding period. That's another feature that sets NLY apart from many of its peers in the ice-cube model category. All investors adopting a “buy and hold forever” strategy in the past ten years are sitting on positive total returns despite the BV/share and price/share declines. This hold rating balances NLY's high leverage and BV/share declines against the quality of its MBS portfolio. Why NLY Needs Leverage to Work NLY's business model requires leverage. For the sake of argument, let us imagine it without debt—a ...