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Based in Suzhou, eastern China's Jiangsu Province, GigaCloud sources large-parcel items such as furniture, home appliances and fitness equipment from China and elsewhere. It sells them to buyers and retailers in the U.S., Europe, Japan and other places, while providing logistics, warehousing and technological solutions in the process. The company counts the U.S. as its largest market, where it generates more than half of its revenue. Its customers include sellers on Amazon.
GigaCloud, an online platform that connects manufacturers of bulky consumer items with buyers around the world, raised $36 million in gross proceeds after selling 2.94 million Class A shares. The deal valued the company at $486 million. The amount raised could increase to $41 million if the underwriter sells more shares to exercise the so-called overallotment options, typically when the stocks are in high demand.
27.77
GCT > 27.77
GCT up 68% > running in premarket > IPO yesterday!
MNMD @ 1.20 up 17%
MindMed A Newly Minted Meme? College Student Who Made $100M On Bed Bath & Beyond Is Involved In Psychedelics Stock
11:09 am ET August 18, 2022 (Benzinga) Print
A 20-year-old college student earned around $110 million after selling his stake in the troubled retailer Bed Bath & Beyond Inc (NASDAQ: BBBY) following the stock's recent rally of more than 339%, according to the Financial Times.
What happened: At a price of roughly $5.20 per share, investor Jake Freeman, a student of mathematics and economics at the University of Southern California, bought nearly 5 million shares of the company in July.
The $25-million stake was purchased through Freeman Capital Management (FCM), a fund registered in Wyoming, according to a Twitter thread exploring the SEC filings and articles of incorporation from the firm. The younger Freeman purchased the 6.2% stake with the help of family and friends, including Jake's uncle Dr. Scott Freeman, a former pharma executive who now works for FCM.
In addition, the elder Freeman co-founded Mind Medicine (NASDAQ: MNMD) and served as its first chief medical officer.
The younger Freeman sold the Bed Bath & Beyond stake on Tuesday when shares closed at a one-month high of $26.93.
Read more: Bed Bath & Beyond Analyst Says Pullback To $2 Likely, Trends At Retailer Remain 'Challenged'
Freeman remarked in the Financial Times story: “I certainly did not expect such a vicious rally upwards. I thought this was going to be a six months plus play — I was really shocked that it went up so fast.”
Why It Matters: The younger Freeman isn’t done yet. He and his uncle sent a scathing letter to the board of directors at MindMed — reminiscent of Ryan Cohen sending a letter to the Bed Bath & Beyond board of directors in March — calling for the board to accept a new strategy put forth by FCM that focuses on the company's core medications, reduces cash consumption and ends an at-the-money equity offering.
Dr. Freeman also offered to join the psychedelics company's board of directors in the letter. Shares of MindMed jumped 58% after the news broke Thursday.
Bed Bath & Beyond shares dropped on Wednesday, ending the day at $23.08. RC Ventures, Cohen's VC fund, announced its intention to sell 9.45 million shares and options via JPMorgan Securities.
Photo via Shutterstock.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
MNMD .99 > nice consolidation > trending on Discord .
Mt. Vesuvius going to blow its top! LET GO MNMD !
.99 > Trending on Discord for Thursday August 18, 2022 > MNMD
2.41 up 9% > just up-listed last Friday 8/12/22 > NYSE > low trading float.
GRFX > 2.41 > just up-listed last Friday 8/12/22 on the NYSE.
GRFX > 2.38 up 8% low float > As vehicle electrification continues, and few new sources are discovered worldwide, BMI estimates the graphite market could reach a deficit as early as this year, with the supply shortfall growing to 8Mt by 2040; to fill this gap, the mining industry would need to produce nearly 8x as much graphite as it does currently .
LET'S GO GRFX !
As vehicle electrification continues, and few new sources are discovered worldwide, BMI estimates the graphite market could reach a deficit as early as this year, with the supply shortfall growing to 8Mt by 2040; to fill this gap, the mining industry would need to produce nearly 8x as much graphite as it does currently .
GRFX
Exactly! > Now I can join Bushwood Country Club !!!!!
Let's go BBIG !
BBIG > 1.89
MNMD up 85% @ 1.39
Trending on Discord for Thursday August 18, 2022: BBBY, BLUE, BBIG, PSTV, EAR, VEEE, FUBO, SSR, MNMD, ASTS
BBIG > 1.82 premarket "meme" mover. Up 28%
Trending on Discord for Thursday August 18, 2022: BBBY, BLUE, BBIG, PSTV, EAR, VEEE, FUBO, SSR, MNMD, ASTS
Vinco Ventures announced a licensing agreement with AI-Pros Inc to create a “true TikTok challenger.” Vinco will have the right to use AI-Pros’ tools and technologies.
BBIG > " TRUE TIK*TOK CHALLENGER " > $$$$$
Graphex Group Limited is a Cayman Island company with principal and administrative offices in Hong Kong and subsidiary office in Royal Oak, Michigan. Graphex is a global leader in the industry, proficient in commercial deep processing of graphite, and is currently producing over 10,000 metric tons of spherical graphite annually. Graphex possesses patents and utility models covering various technological, design, and processing applications in addition to trade secrets and technological expertise.
Positive fundamental & technical catalysts taking ONCT share price higher.
Plus Therapeutics Awarded $17.6M From State Of Texas For Continued Development Of Co.'s Lead Investigational Targeted Radiotherapeutic Rhenium-186 NanoLiposome For Treatment Of Patients With Leptomeningeal Metastases
5:49 pm ET August 17, 2022 (Benzinga) Print
Funding from the Cancer Prevention and Research Institute of Texas (CPRIT), the second largest global public funder of cancer research, will support the majority of the development costs of 186RNL for leptomeningeal metastases.
Plus Therapeutics, Inc. (Nasdaq: PSTV) (the "Company"), a clinical-stage pharmaceutical company developing innovative, targeted radiotherapeutics for rare and difficult-to-treat cancers, today announced that it was awarded a $17.6 million Product Development Research grant by the Cancer Prevention and Research Institute of Texas (CPRIT) to fund the continued development of the Company's lead investigational targeted radiotherapeutic, Rhenium-186 NanoLiposome (186RNL), for the treatment of patients with leptomeningeal metastases (LM).
"The Plus team is honored to receive this significant and esteemed award from CPRIT," said Marc H. Hedrick M.D., President and Chief Executive Officer of Plus Therapeutics. "We expect that the non-dilutive funding from CPRIT will come on-line next month once the award agreement is finalized and this will significantly offset our longer-term, three-year capital requirements for the advancement of our LM program."
In the second quarter of 2022, the Company completed enrollment of Cohort 1 in the ReSPECT-LM Phase 1/2a dose escalation trial (NCT05034497). 186RNL was delivered without dose limiting toxicities in this initial cohort, and the independent Data and Safety Monitoring Board has approved the plan to move ahead with Cohort 2.
"LM is one of the most devastating and aggressive late-stage cancer complications, in which the primary cancer spreads to the central nervous system. The most common solid tumor giving rise to LM is breast cancer and LM affects 3% to 5% of women already suffering with breast cancer," stated Jamil Rivers, President of METAvivor Research and Support, Inc. "The continued investment in clinical research and development for metastatic breast cancer, including leptomeningeal
SEC filing 424B3 > 9,500,000 Shares of Common Stock. Preliminary Prospectus > 8/8/22
Let's Go FUBO !
$FUBO is another BIG SQUEEZE candidate
After hours, beware of shelf placement offering! Potential 20M shares. > Cramer , CNBC.
BBBY
Boom, Blastoff, & Beyond !!!!!
BBBY > 29.25
BBBY > 25.25
As Sara says: " You betcha! "
hope Sarah Palin wins....
I came to like her a lot..........
About AI-PROS AI-Pros is headquartered in Silicon Valley and specializes in developing AI recommendation engines and producing conversational AI, as featured at the University of California, Berkeley.
Volume > 89,928,000 > LET'S GO BBIG !
BBIG > " TRUE TIK*TOK CHALLENGER " > $$$$$
Vinco Ventures announced a licensing agreement with AI-Pros Inc to create a “true TikTok challenger.” Vinco will have the right to use AI-Pros’ tools and technologies.
Yes! > Crazy Rich Asians chased the judge out of the courtroom . lol.
Very nice! Tomorrow she runs > 5.00+
Why Vinco Ventures Shares Are Rocketing Higher Tuesday
1:28 pm ET August 16, 2022 (Benzinga) Print
Digital media and content company Vinco Ventures Inc (NASDAQ: BBIG) is seeing shares take off Tuesday as the stock was unhalted and became tradeable for the first time in two weeks. Here are the details.
What Happened: Shares of Vinco Ventures opened for trading at 12:30 p.m. ET Tuesday after being halted since August 4, 2022.
The Nasdaq Stock Market announced it was halting Vinco Ventures shares on Aug. 4 for “additional information requested.” The Nasdaq said shares of Vinco Ventures would remain halted until the information request was satisfied.
Shares of Vinco Ventures traded at $0.7117 at the time of the halt.
The halt by the Nasdaq came after the company issued several press releases and saw confusion from investors over who was in charge of the company.
Vinco Ventures announced July 25 the termination of Ted Farnsworth and Lisa King, the co-CEO of the company and CEO, respectively. Chief Security Officer Erik Noble and board Chairman Roderick Vanderbilt were also terminated, according to a press release.
The four members referred to as “the Farnsworth Group” allegedly attempted a hostile takeover of the company, according to a press release that does not appear on the Vinco Ventures website and was later disputed by the company.
John Colucci was named as the interim CEO, according to one of the press releases.
“I was willing to step in as the company enters into a new phase to stabilize the company and implement immediate cost-savings plans and aggressively pursue revenue generating programs with strategic partners,” Colucci said.
What’s Next: On Monday, Vinco Ventures announced a licensing agreement with AI-Pros Inc to create a “true TikTok challenger.” Vinco will have the right to use AI-Pros’ tools and technologies.
The company said the focus of the partnership with AI-Pros is to focus on growing a social media platform that primarily targets the U.S. and Canadian markets.
Vinco Ventures has a joint venture with Zash Global Media on the Singapore-based Lomotif app, which targets non-U.S. and Canadian markets.
“We believe our partnership with AI-Pros disrupt what the social media world sees as a shared economy,” Vinco Ventures interim CEO Colucci said. “AI-Pros’ next generation technologies and the potential of sharing revenue with all participants is truly a game changer in this industry.”
A special meeting of shareholders that was scheduled for July 26, 2022 was postponed until Tuesday, Aug. 23, 2022 to allow additional time for shareholders to vote on proposals.
The special meeting could provide more details on the company’s latest moves and an updated management roster.
BBIG Price Action: Vinco Ventures shares rocketed higher once they unhalted and hit an intraday high of $1.37. Shares are up 76% to $1.25 at the time of writing. The stock has been halted for volatility on several occasions Tuesday.
There were deaths, especially from collisions. Tesla vehicle crossing over into oncoming lanes > head on crashes.
Actual people driving had how many?