Ultime notizie per Immersion (NASDAQ:IMMR) Azioni

Immersion

Immersion Corp is focused on the creation, design, development, and licensing of haptic technologies that allow people to use its sense of touch more fully as it involves engaging with products and experience the digital world. The company's software focuses on applications in mobile devices, wearables, consumer, and gaming devices markets. It generates revenue from royalty and license fees, and development contract and service fees. Geographically, the company generates a majority of its revenue from Japan, followed by Korea, Germany, United States of America and other countries.

Immersion Corp

IMMRSIV Inc

A notable insider purchase on August 29, was reported by William C Martin, Chief Strategy Officer at Immersion (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMMR#NASDAQ">IMMR</a>), based on the most recent SEC filing.
What Happened: Martin made a significant move by purchasing 20,000 shares of Immersion as reported in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001058811/000121390024073982//Archives/edgar/data/1058811/000121390024073982/0001213900-24-073982-index.htm">U.S. Securities and Exchange Commission</a>. The transaction's total worth stands at $175,165.
At Friday morning, Immersion shares are up by 7.25%, trading at $9.32.
<h3>All You Need to Know About Immersion</h3>
Immersion Corp is focused on the creation, design, development, and licensing of haptic technologies that allow people to use its sense of touch more fully as it involves engaging with products and experience the digital world. The company's software focuses on applications in mobile devices, wearables, consumer, and gaming devices markets. It generates revenue from royalty and license fees, and development contract and service fees. Geographically, the company generates a majority of its revenue from Japan, followed by Korea, Germany, United States of America and other countries.
<h3>Financial Milestones: Immersion's Journey</h3>
Revenue Growth: Immersion's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 1323.8%. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Information Technology sector.
Exploring Profitability:
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<li>
Gross Margin: Achieving a high gross margin of 58.96%, the company performs well in terms of cost management and profitability within its sector.
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Earnings per Share (EPS): Immersion's EPS is below the industry average, signaling challenges in bottom-line performance with a current EPS of 0.91.
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</ul>
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 1.71, caution is advised due to increased financial risk.
Assessing Valuation Metrics:
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Price to Earnings (P/E) Ratio: With a lower-than-average P/E ratio of 4.84, the stock indicates an attractive valuation, potentially presenting a buying opportunity.
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Price to Sales (P/S) Ratio: The current P/S ratio of 1.72 is below industry norms, suggesting potential undervaluation and presenting an investment opportunity for those considering sales performance.
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EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): The company's EV/EBITDA ratio 9.82 is below the industry average, indicating that it may be relatively undervalued compared to peers.
</li>
</ul>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
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<h3>Understanding the Significance of Insider Transactions</h3>
Insider transactions should be considered alongside other factors when making investment decisions, as they can offer important insights.
In the realm of legality, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities under Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are required to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Notably, when a company insider makes a new purchase, it is considered an indicator of their positive expectations for the stock.
Conversely, insider sells may not necessarily signal a bearish stance on the stock and can be motivated by various factors.
<h3>The Insider's Guide to Important Transaction Codes</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates grant, award or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001058811">Check Out The Full List Of Immersion's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Trading Ideas

IMMR

William C Martin Takes a Bullish Stance: Acquires $175K In Immersion Stock

Eric Singer, President and CEO at Immersion (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMMR#NASDAQ">IMMR</a>), disclosed an insider purchase on August 29, based on a new SEC filing.
What Happened: Singer's recent purchase of 50,000 shares of Immersion, disclosed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001058811/000121390024073996//Archives/edgar/data/1058811/000121390024073996/0001213900-24-073996-index.htm">U.S. Securities and Exchange Commission</a> on Thursday, reflects confidence in the company's potential. The total transaction value is $438,425.
Monitoring the market, Immersion's shares up by 7.25% at $9.32 during Friday's morning.
<h3>Unveiling the Story Behind Immersion</h3>
Immersion Corp is focused on the creation, design, development, and licensing of haptic technologies that allow people to use its sense of touch more fully as it involves engaging with products and experience the digital world. The company's software focuses on applications in mobile devices, wearables, consumer, and gaming devices markets. It generates revenue from royalty and license fees, and development contract and service fees. Geographically, the company generates a majority of its revenue from Japan, followed by Korea, Germany, United States of America and other countries.
<h3>Immersion: Financial Performance Dissected</h3>
Revenue Growth: Over the 3 months period, Immersion showcased positive performance, achieving a revenue growth rate of 1323.8% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Information Technology sector.
Interpreting Earnings Metrics:
<ul>
<li>
Gross Margin: The company sets a benchmark with a high gross margin of 58.96%, reflecting superior cost management and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Immersion's EPS reflects a decline, falling below the industry average with a current EPS of 0.91.
</li>
</ul>
Debt Management: With a high debt-to-equity ratio of 1.71, Immersion faces challenges in effectively managing its debt levels, indicating potential financial strain.
Valuation Metrics:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current P/E ratio of 4.84 is below industry norms, indicating potential undervaluation and presenting an investment opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: The P/S ratio of 1.72 is lower than the industry average, implying a discounted valuation for Immersion's stock in relation to sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): The company's EV/EBITDA ratio 9.82 is below the industry average, indicating that it may be relatively undervalued compared to peers.
</li>
</ul>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
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<h3>The Importance of Insider Transactions</h3>
Investors should view insider transactions as part of a multifaceted analysis and not rely solely on them for decision-making.
Within the legal framework, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as per Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
The initiation of a new purchase by a company insider serves as a strong indication that they expect the stock to rise.
However, insider sells may not always signal a bearish view and can be influenced by various factors.
<h3>Breaking Down the Significance of Transaction Codes</h3>
For <a href="https://www.benzinga.com/money/investing-tools">investors</a>, a primary focus lies on transactions occurring in the open market, as indicated in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001058811">Check Out The Full List Of Immersion's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Eric Singer's Recent Buy: Acquires $438K In Immersion Stock

Immersion Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/immr#NASDAQ">IMMR</a>) has experienced a sharp 25% decline in its share price over the past month, leaving investors wondering if this is a buying opportunity.
The drop stands out starkly against the stability of the S&amp;P 500, which has only seen minor fluctuations during the same period. Additionally, Immersion&#39;s performance significantly underperformed the Technology Select Sector SPDR Fund&nbsp;ETF (ARCA:XLK), which posted a 4.9% gain in the same timeframe.
<h2>What Triggered the Fall?</h2>
The dramatic drop in Immersion&#39;s stock price was primarily due to investors&#39; profit-taking strategy. After a strong bullish run that saw the stock reach a 52-week high of $13.94 on Jul 29, 2024, many investors chose to lock in their gains, leading to a wave of selling pressure.
The stock had attracted considerable attention due to its innovative haptic technology and user interface designs, which fueled its upward momentum. However, as the stock approached the $14 mark, it became increasingly apparent that investors were eager to capitalize on these gains.
<h3>One-Month Price Return Performance</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/65/75365.jpg?v=1908065020" style="height:305px; width:600px" />
Image Source: Zacks Investment Research
Moreover, the stock&#39;s premium valuation likely contributed to the recent pullback. With Immersion trading at elevated levels, some investors became cautious, questioning whether the company&#39;s growth prospects could justify such high valuations in the near term. This uncertainty prompted a reassessment of positions, further accelerating the sell-off.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/04/75367.jpg?v=1259533342" style="height:305px; width:600px" />
Image Source: Zacks Investment Research
Despite these factors, the recent plunge in Immersion&#39;s share price could be seen as a golden opportunity for investors, especially given the company&#39;s robust fundamentals and promising growth trajectory.
<h2>Positive Industry Trends: A Strong Foundation</h2>
One of Immersion&#39;s key strengths lies in its leadership in haptic technology &mdash; a rapidly growing field that enhances user experiences across a variety of devices by providing tactile feedback. This technology is becoming increasingly essential in sectors such as gaming, automotive, mobile devices and virtual reality. As these markets expand, so does the demand for Immersion&#39;s advanced haptic applications.
The company&#39;s strong intellectual property portfolio, which includes numerous patents, provides it with a significant competitive edge. Licensing this technology to major global players ensures a steady revenue stream, enabling Immersion to fund its growth initiatives and maintain its market position.
Additionally, the company&#39;s strategy to diversify its offerings into new verticals, such as medical devices and industrial applications, showcases its adaptability and broad market applicability. This diversification not only reduces IMMR&#39;s dependence on a single industry but also opens up multiple revenue streams, making it less vulnerable to sector-specific downturns.
Currently, Immersion has more than 15 award-winning designs and products, which are being used on more than 3 billion devices globally. Additionally, it has over 150 licensed customers. The company&#39;s versatility and broad application across various industries underscore its potential for sustained growth.
<h2>Partnerships and Deal Wins Strengthen Market Position</h2>
Immersion&#39;s market position has been further solidified through strategic partnerships and recent deal wins. The company has secured agreements with leading smartphone manufacturers, gaming companies, and automotive giants, highlighting the widespread adoption of its technology. These partnerships not only validate the quality and effectiveness of Immersion&#39;s products but also ensure long-term revenue growth.
For example, Immersion&#39;s collaboration with Sony Group Corporation&nbsp;for the PlayStation 5&#39;s DualSense controller has been a major success, showcasing the critical role haptic feedback plays in enhancing gaming experiences. This high-profile partnership boosts the company&#39;s visibility and reputation, attracting more potential clients and partners.
Moreover, Immersion has signed multiple licensing deals with industry leaders, including Samsung Electronics and Meta Platforms, Inc.&nbsp;Samsung renewed its license agreement, allowing its affiliates to continue utilizing IMMR&#39;s patents. Similarly, Meta Platforms has signed a deal to incorporate Immersion&#39;s technology into its hardware, software, VR and gaming products, further expanding the latter&#39;s market reach.
<h2>Financial Strength and Growth Prospects: A Promising Outlook</h2>
Immersion&#39;s recent financial performance has been nothing short of impressive. In the second quarter of 2024, the company reported revenues of $99.4 million, a more than 14-fold increase from the prior-year level. Even excluding revenues from the recently acquired Barnes &amp; Noble Education business, Immersion&#39;s top-line growth was remarkable, soaring seven-fold.
The company&#39;s earnings also saw significant growth, increasing more than four-fold to 89 cents per share from 21 cents in the year-ago quarter. Wall Street analysts have taken note of Immersion&#39;s strong performance, with the Zacks Consensus Estimate for 2024 revenues and earnings indicating positive sentiment and expectations for continued growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/5c/75371.jpg?v=420100523" style="height:305px; width:600px" /> 
Image Source: Zacks Investment Research
<h2>Conclusion: A Buying Opportunity Amid the Dip</h2>
Despite the recent decline in its share price, Immersion remains a strong contender in the technology sector, underpinned by solid fundamentals and growth prospects. The recent dip, driven by profit-taking initiatives and concerns over valuations, offers a rare opportunity to invest in a company with a strong intellectual property portfolio, a solid financial foundation and multiple growth drivers.
Immersion&#39;s current price level could represent an attractive entry point for investors. As the company continues to innovate and expand its market presence, the potential for gains remains significant. Now might be the perfect time to add this Zacks Rank #1 (Strong Buy) company to your portfolio.
<a href="https://www.zacks.com/stock/news/2326910/immersion-immr-plunges-25-in-a-month-is-it-time-to-buy-the-dip?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2326910">To read this article on Zacks.com click here.</a>

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Analyst Ratings

Tech

Immersion Plunges 25% in a Month: Is It Time to Buy the Dip?

BWS Financial analyst Hamed Khorsand maintains Immersion (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMMR#NASDAQ">IMMR</a>) with a Buy and raises the price target from $11 to $13.5.

Price Target

BWS Financial Maintains Buy on Immersion, Raises Price Target to $13.5

Immersion Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMMR#NASDAQ">IMMR</a>) shares are trading higher on the heels of the company&#8217;s second-quarter financial results. Here&#8217;s a <a href="https://www.benzinga.com/pressreleases/24/08/b40474557/immersion-corporation-reports-second-quarter-2024-results">rundown of the print</a>.
What Happened: Immersion reported second-quarter revenue of $99.42 million, up from $6.98 million in the prior year&#8217;s period. The haptics technology company reported adjusted earnings of $1.14 per share, up from 26 cents in the prior year&#8217;s quarter, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Immersion highlighted recent transactions with Barnes &amp; Noble Education Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNED#NYSE">BNED</a>) under which it acquired 42%&nbsp;of all outstanding common shares of Barnes &amp; Noble, as well as control over the company through five Immersion-appointed board seats.
&#8220;The&nbsp;second quarter&nbsp;was very strong for the Company. We continue to work to protect and monetize our intellectual property. We were also able to take advantage of our strong and liquid balance sheet to make an important investment in Barnes &amp; Noble Education,&#8221; said Eric Singer, chairman and CEO of Immersion.
Don&#8217;t Miss: <a href="https://www.benzinga.com/news/24/08/40484349/texas-instruments-to-rally-around-16-here-are-10-top-analyst-forecasts-for-wednesday">Texas Instruments To Rally Around 16%? Here Are 10 Top Analyst Forecasts For Wednesday</a>
IMMR Price Action: <a href="http://benzinga.com/quote/IMMR">Immersion shares</a> were up 14.9% at $11.41 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

Movers

BNED

Immersion Stock Is Surging Wednesday: What's Behind The Move?

WIIM

Immersion shares are trading higher after the company reported a year-over-year increase in Q2 financial results.

On June 10, 2024, the Company closed certain transactions with Barnes &amp; Noble Education, Inc. As part of the transactions, the Company acquired 42% of all outstanding common shares of Barnes &amp; Noble Education, as well as control over Barnes &amp; Noble Education through the five Immersion-appointed board seats.&nbsp;
The financial information presented includes the consolidated financial information of Barnes &amp; Noble Education from the period of June 10, 2024 through June 30, 2024. The Company owns approximately 11 million shares of Barnes &amp; Noble Education's common stock upon the close of this transaction.

Earnings Beats

Immersion Q2 2024 Adj EPS $1.14, Up From $0.26 Prior Year; Sales $99.42M, Up From $6.98M Prior Year

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Next Technology Holding Inc. - Ordinary Shares

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Shares of companies in the broader technology sector are trading lower amid an overall market selloff following weak US jobs data. Weakness in Amazon and Intel has also weighed on the tech sector.

Shares of Bloom Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) rose sharply in today's pre-market trading after the company announced a strategic <a href="https://www.benzinga.com/news/24/07/39804803/bloom-energy-stock-booms-on-ai-data-center-deal-what-you-need-to-know">partnership with CoreWeave</a>.
Bloom Energy said it entered into a partnership to deploy its proprietary fuel cells to generate on-site power for CoreWeave at a high-performance data center in Illinois.
Bloom Energy shares jumped 12.1% to $16.90 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Shimmick Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHIM#NASDAQ">SHIM</a>) gained 53% to $3.09 in pre-market trading after the company received a $27.6 million subcontract for the Sunol Valley Water Treatment Plant Ozonation Project.</li>
<li>Aptevo Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APVO#NASDAQ">APVO</a>) shares rose 39.3% to $0.46 in pre-market trading after surging around 10% on Tuesday. Aptevo Therapeutics recently announced closing of $2.75 million offering.</li>
<li>MicroAlgo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) shares rose 26.1% to $3.58 in pre-market trading after declining around 14% on Tuesday.</li>
<li>Conduit Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDT#NASDAQ">CDT</a>) rose 16.1% to $0.2916 in pre-market trading. Conduit Pharmaceuticals shares gained around 5% on Tuesday after the company announced it received patent approval for its lead asset targeting autoimmune diseases..</li>
<li>Adverum Biotechnologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADVM#NASDAQ">ADVM</a>) shares gained 15.5% to $10.31 in pre-market trading. Adverum Biotechnologies revealed 26-week interim analysis results of Ixo-vec from LUNA Phase 2 trial at 2024 ASRS Annual Meeting.</li>
<li>GitLab Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>) gained 13.9% to $57.71 in pre-market trading after Reuters reported that the company is exploring a sale.</li>
<li>Asset Entities Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASST#NASDAQ">ASST</a>) shares climbed 12.6% to $1.77 in pre-market trading.</li>
<li>Immersion Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMMR#NASDAQ">IMMR</a>) shares surged 12.4% to $13.69 in pre-market trading after gaining over 5% on Tuesday.</li>
<li>CERo Therapeutics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERO#NASDAQ">CERO</a>) shares gained 7.7% to $0.21 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Cineverse Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNVS#NASDAQ">CNVS</a>) shares fell 15.6% to $0.75 in pre-market trading.</li>
<li>Logistic Properties of the Americas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>) shares fell 15.2% to $22.04 in pre-market trading after jumping 69% on Tuesday.</li>
<li>Virpax Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRPX#NASDAQ">VRPX</a>) shares fell 15.2% to $1.28 in pre-market trading after jumping 41% on Tuesday.</li>
<li>Five Below, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) shares declined 14.7% to $87.00 in pre-market trading after the company announced a CEO transition. Additionally, comparable sales decreased in the 10-week period ended July 13.</li>
<li>Safe and Green Development Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGD#NASDAQ">SGD</a>) shares dipped 11% to $0.3642 in pre-market trading.</li>
<li>Silo Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SILO#NASDAQ">SILO</a>) shares fell 9.2% to $2.17 in pre-market trading. Silo Pharma shares jumped 123% on Tuesday after the company obtained an exclusive global license to develop, manufacture, and commercialize its Alzheimer&#8217;s drug.</li>
<li>Eightco Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCTO#NASDAQ">OCTO</a>) shares fell 8.7% to $0.48 in pre-market trading. Eightco Holdings recently said first-quarter revenue fell to $9.6 million from $15.9 million in the year-ago period.</li>
<li>Cerus Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERS#NASDAQ">CERS</a>) fell 8.4% to $2.19 in pre-market trading. On July 2, Cerus announced the appointment of Dean Gregory to its Board of Directors.</li>
<li>Siebert Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIEB#NASDAQ">SIEB</a>) fell 6.8% to $1.77 in pre-market trading after gaining over 9% on Tuesday.</li>
<li>ASML Holding N.V.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) shares declined 6.8% to $995.90 in pre-market trading. ASML reported better-than-expected second-quarter earnings, driven by robust sales in China and a surge in new bookings.</li>
</ul>
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Pre-Market Outlook

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Why Bloom Energy Group Shares Are Trading Higher By 12%; Here Are 20 Stocks Moving Premarket

BWS Financial analyst Hamed Khorsand maintains Immersion (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMMR#NASDAQ">IMMR</a>) with a Buy and maintains $11 price target.

BWS Financial Maintains Buy on Immersion, Maintains $11 Price Target

Barnes &amp; Noble Education, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNED#NYSE">BNED</a>) (&quot;BNED&quot; or the &quot;Company&quot;), a leading solutions provider for the education industry, today announced that it has successfully closed its milestone equity and refinancing transactions (the &quot;Transactions&quot;) with Immersion Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMMR#NASDAQ">IMMR</a>) (&quot;Immersion&quot;) and certain of the Company&#39;s existing stockholders and strategic partners. These transactions will significantly strengthen BNED&#39;s balance sheet with more than&nbsp;$100 million&nbsp;of new equity and provide a strong foundation for future growth and profitability.
Through the Transactions:
<ul>
<li>The Company received gross proceeds of&nbsp;$95 million&nbsp;of new equity capital through a&nbsp;$50 million&nbsp;new equity investment (the &quot;Private Investment&quot;) and a&nbsp;$45 million&nbsp;fully backstopped equity rights offering (the &quot;Rights Offering&quot;); the Transactions infused approximately&nbsp;$80 million&nbsp;of net cash proceeds after transaction costs;</li>
<li>The Company&#39;s existing second lien lenders, affiliates of Fanatics, Lids, and VitalSource Technologies (&quot;VitalSource&quot;) (collectively, the &quot;Second Lien Lenders&quot;), converted&nbsp;$34 million&nbsp;of outstanding principal and any accrued and unpaid interest into shares of Common Stock of the Company, par value&nbsp;$0.01&nbsp;per share (&quot;Common Stock&quot;); and</li>
<li>The Company amended and extended its existing asset based loan facility agented by Bank of America, N.A., pursuant to an agreement with its first lien lenders, providing the Company with access to a&nbsp;$325 million&nbsp;revolving loan facility (the &quot;ABL Facility&quot;) maturing in 2028. The amended ABL Facility will meaningfully enhance BNED&#39;s financial flexibility and reduce its annual interest expense.</li>
</ul>
&quot;We are pleased to announce the closing of the milestone equity investment and bank refinancing transactions,&quot; said Jonathan Shar, Executive Vice President, BNED Retail and President, Barnes and Noble College. &quot;With a significantly improved balance sheet, we are well-positioned to advance our industry leadership while continuing to strategically invest in innovation and improve the experiences and value we bring to our customers and partner institutions.&quot;
&quot;Immersion is excited to lead this investment into Barnes &amp; Noble Education. The Company plays an invaluable role in the higher education sector, and we fully support its mission of driving affordability, access, and achievement for students via our academic partners nationwide,&quot; said Eric Singer, President and Chief Executive Officer of Immersion Corporation. &quot;The new board will be focused on accelerating BNED&#39;s transformation and strengthening its industry leadership, while driving profitable growth and enhancing shareholder value.&quot;
Changes to Board of Directors
Effective at the closing of the Transactions, as approved by BNED stockholders, five new Directors and two existing Directors were appointed to the Company&#39;s Board of Directors:
<ul>
<li>Eric Singer, President, CEO and Chairman of the Board of Immersion Corporation</li>
<li>Emily S. Hoffman, Chief Marketing Officer of SmartPak</li>
<li>Sean Madnani, Chief Executive Officer of Twist Capital</li>
<li>William C. Martin, Chief Strategy Officer of Immersion Corporation</li>
<li>Elias Nader, Chief Financial Officer of QuickLogic Corporation</li>
<li>Kathryn Eberle Walker, Chief Executive Officer, Presence Learning Inc., Member of BNED Board of Directors since 2022</li>
<li>Denise Warren, Founder and Chief Executive Officer of Netlyst, LLC, Member of BNED Board of Directors since 2022</li>
</ul>
For more information on the newly appointed Board of Directors, including full biographies, please refer to the Company&#39;s definitive proxy statement, dated as of May 15, 2024.
Additionally, effective at the closing of the Transactions, Mario Dell&#39;Aera Jr., David Golden, Michael Huseby, Steven Panagos, Vice Admiral John Ryan, Rory Wallace, and Raphael Wallander resigned from the Company&#39;s Board of Directors.
Reverse Stock Split
The Board of Directors will effectuate a reverse stock split of the Company&#39;s outstanding shares of Common Stock at a ratio of 1-for-100 (the &quot;Reverse Stock Split&quot;), which was previously approved by stockholders at a special meeting held on June 5, 2024. The Reverse Stock Split will become effective at 5:01 p.m. Eastern Time on Tuesday, June 11, 2024 (the &quot;Effective Time&quot;) and the Company&#39;s shares of Common Stock will begin trading on the New York Stock Exchange (&quot;NYSE&quot;) on a reverse split-adjusted basis when the NYSE opens on Wednesday, June 12, 2024. In connection with the Reverse Stock Split, every 100 shares of the Company&#39;s Common Stock issued and outstanding as of the Effective Time will be automatically converted into one share of the Company&#39;s Common Stock. No change will be made to the trading symbol for the Company&#39;s shares of Common Stock, &quot;BNED,&quot; in connection with the Reverse Stock Split. The Reverse Stock Split is part of the Company&#39;s plan to regain compliance with the minimum bid price requirement of&nbsp;$1.00&nbsp;per share required to maintain continued listing on the NYSE.
The Reverse Stock Split will reduce the number of shares of the Company&#39;s outstanding Common Stock from approximately 2,620.5 million shares (as of the date of this press release, when including issuances pursuant to the Transactions) to approximately 26.2 million shares, subject to adjustment for rounding. The Reverse Stock Split will affect all issued and outstanding shares of Common Stock. All outstanding options and restricted stock units, and other securities entitling their holders to purchase or otherwise receive shares of Common Stock will be adjusted as a result of the Reverse Stock Split, as required by the terms of each security. The number of shares available to be awarded under the Company&#39;s equity compensation plans will also be appropriately adjusted. Following the Reverse Stock Split, the par value of the Common Stock will remain unchanged at&nbsp;$0.01&nbsp;per share. The Reverse Stock Split will not change the authorized number of shares of Common Stock or preferred stock. No fractional shares will be issued in connection with the reverse split; instead any fractional shares as a result of the Reverse Stock Split will be rounded up to the next whole number of post-split shares of Common Stock.
Additional information regarding the Reverse Stock Split is available in the Company&#39;s definitive proxy statement, dated as of May 15, 2024.

Stock Split

Barnes & Noble Education Announces Leadership Changes and Reverse Stock Split

Contracts

SSNLF

Immersion Renews License With Samsung Electronics To Continue To Make Patents Available To Samsung And Its Affiliates

Immersion (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMMR#NASDAQ">IMMR</a>) reported quarterly earnings of $0.59 per share which beat the analyst consensus estimate of $0.55 by 7.27 percent. This is a 78.79 percent increase over earnings of $0.33 per share from the same period last year. The company reported quarterly sales of $43.85 million which beat the analyst consensus estimate of $24.93 million by 75.88 percent. This is a 519.83 percent increase over sales of $7.07 million the same period last year.

Immersion Q1 EPS $0.59 Beats $0.55 Estimate, Sales $43.85M Beat $24.93M Estimate

Barnes &amp; Noble Education, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNED#NYSE">BNED</a>) shares are trading lower after it announced a short-term shareholder&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38270602/barnes-noble-education-announces-milestone-transactions-to-significantly-strengthen-balance-sheet-" rel="noreferrer noopener">rights plan and a new equity investment</a>.
In particular, the company inked a definitive deal with&nbsp;Immersion Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMMR#NASDAQ">IMMR</a>) and existing shareholders and strategic partners regarding new equity and refinancing transactions to boost long-term financial position.
After closing the transactions in June 2024, Barnes &amp; Noble will receive $95 million of new capital through a $50 million equity investment and a $45 million fully backstopped equity rights offering led by immersion.
The deal is projected to infuse net cash proceeds after transaction costs of about $75 million.
Also, the company plans to eliminate about $34 million of debt through equitization of second lien term loans, reflecting the strong support of key strategic partners.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38273842/s-p-500-due-for-classic-10-correction-wall-street-veteran-warns-why-they-expect-zer">S&amp;P 500 Due For &#8216;Classic 10% Correction,&#8217; Wall Street Veteran Warns: Why They Expect Zero Rate Cuts In 2024</a>
Barnes &amp; Noble has received commitments to refinance its existing asset-backed loan facility, which provides access to a $325 million facility maturing in 2028.&nbsp;
Apart from this, the board of directors approved adopting a short-term stockholder rights plan and declared a dividend distribution of one preferred share purchase right on&nbsp;<a href="https://www.benzinga.com/pressreleases/24/04/b38270604/barnes-noble-education-adopts-short-term-stockholder-rights-plan" target="_blank" rel="noreferrer noopener">each outstanding common share</a>.
The rights will be exercisable only if a person or group acquires 10% or more of the company&#8217;s common shares and each right will entitle stockholders to buy one one-thousandth of a share of a new series of junior participating preferred stock at an exercise price of $5.00.
Investors can gain exposure to the stock via IShares Microcap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWC#NYSE">IWC</a>) and Invesco FTSE RAFI US 1500 Small Mid ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRFZ#NASDAQ">PRFZ</a>).
BNED Price Action: Barnes &amp; Noble Education shares are down 68.91% at 0.22 cents at publication Tuesday.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38273192/goldman-sachs-boasts-near-perfect-q1-results-5-analysts-zero-in-on-core-strengths">Goldman Sachs Boasts &#8216;Near-Perfect&#8217; Q1 Results, 5 Analysts Zero In On &#8216;Core Strengths&#8217;</a>
Photo: Joyseulay via Shutterstock

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PowerShares FTSE RAFI US 1500 Small-Mid Portfolio

PRFZ

Why Barnes & Noble Education Shares Are Diving Today

BNED to Receive $95 Million of New Capital Through $50 Million Equity Investment and $45 Million Fully Backstopped Equity Rights Offering Led by Immersion Corporation
Eliminates Approximately $34 Million of Debt Through Equitization of Second Lien Term Loan, Reflecting Strong Support of Key Strategic Partners
Secures Commitment to Refinance Four-Year Asset Backed Loan Facility to Provide Greater Financial and Operational Flexibility
Barnes &amp; Noble Education, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNED#NYSE">BNED</a>) ("BNED" or the "Company"), a leading solutions provider for the education industry, today announced that it has entered into a definitive agreement with Immersion Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMMR#NASDAQ">IMMR</a>) ("Immersion"), and certain of the Company's existing shareholders and strategic partners, on the terms of new equity and refinancing transactions that will significantly strengthen BNED's long-term financial position. The proposed transactions, which are subject to shareholder approval and other closing conditions, will enable the Company to substantially deleverage its balance sheet, continue to strategically invest in innovation, and operate from a position of strength.
Upon close, which is expected in June 2024:
<ul>
<li>BNED will receive gross proceeds of $95 million of new equity capital through a $50 million new equity investment (the "Private Investment") led by Immersion and a $45 million fully backstopped equity rights offering (the "Rights Offering"); the transactions are expected to infuse approximately $75 million of net cash proceeds after transaction costs;</li>
<li>The Company's existing second lien lenders, affiliates of Fanatics, Lids, and VitalSource Technologies ("VitalSource") (collectively, the "Second Lien Lenders"), will convert approximately $34 million of outstanding principal and any accrued and unpaid interest into BNED Common Stock; and</li>
<li>The Company has received commitments to refinance its existing asset backed loan facility, pursuant to an agreement with its first lien holders, providing the Company with access to a $325 million facility (the "ABL Facility") maturing in 2028. The refinanced ABL Facility will meaningfully enhance BNED's financial flexibility and reduce its annual interest expense.</li>
</ul>
"Today's announcement marks a significant milestone in our strategic review process and, we believe, represents the best path forward for our shareholders, employees and the students, institutions, alumni, fans, and communities we serve," said Michael Huseby, Chief Executive Officer, BNED. "BNED is a critical part of the education ecosystem, and we are confident that this transaction will allow us to grow our business profitably as we enhance our market leading offerings and build on the strong momentum of First Day and our other key programs."
"With a stronger financial foundation, we will be well positioned to advance our industry leadership by continuing our focus on delivering innovative solutions, an unmatched merchandise assortment, and the best-in-class omnichannel customer experience for our valued school partners," said, Jonathan Shar, Executive Vice President, BNED Retail and President, Barnes and Noble College.

Barnes & Noble Education Announces Milestone Transactions To Significantly Strengthen Balance Sheet; To Receive $95M Of New Capital Through $50M Equity Investment And $45M Fully Backstopped Equity Rights Offering; Eliminates ~$34M Of Debt Through Equitization Of Second Lien Term Loan

Immersion (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMMR#NASDAQ">IMMR</a>) reported quarterly earnings of $0.49 per share which beat the analyst consensus estimate of $0.16 by 206.25 percent. This is a 8.89 percent increase over earnings of $0.45 per share from the same period last year. The company reported quarterly sales of $10.38 million which beat the analyst consensus estimate of $8.22 million by 26.28 percent. This is a 13.27 percent increase over sales of $9.16 million the same period last year.

Immersion Q4 EPS $0.49 Beats $0.16 Estimate, Sales $10.38M Beat $8.22M Estimate

Earnings week ahead: Zoom, Lowe's, Target, Baidu, XPeng, Zim Integrated and more

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Immersion (NASDAQ:<a href="https://investorplace.com/stock-quotes/immr-stock-quote/">IMMR</a>) just reported results for the second quarter of 2024.<ul><li>Immersion reported earnings per share of $1.14. This was above the analyst estimate for EPS of 34 cents.</li><li>The company reported revenue of $99.42 million.</li><li>This was 1,245.39% better than the analyst estimate for revenue of $7.39 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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IMMR Stock Earnings: Immersion Beats EPS, Beats Revenue for Q2 2024

Immersion Non-GAAP EPS of $1.14 beats by $0.97, revenue of $99.4M beats by $90.49M

Immersion declares $0.045 dividend

Immersion Corporation: Cheap For Good Reason - Hold

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Immersion (NASDAQ:<a href="https://investorplace.com/stock-quotes/immr-stock-quote/">IMMR</a>) just reported results for the second quarter of 2024.<ul><li>Immersion reported earnings per share of $1.14. This was above the analyst estimate for EPS of 34 cents.</li><li>The company reported revenue of $99.42 million.</li><li>This was 1,245.39% better than the analyst estimate for revenue of $7.39 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div>	The post <a href="https://investorplace.com/earning-results/2024/08/immr-stock-earnings-immersion-for-q2-of-2024/">IMMR Stock Earnings: Immersion Beats EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

BWS Financial analyst Hamed Khorsand maintained a Buy rating on Immersion (IMMR – Research Report) today and set a price target of $13.50. Hamed Kh...

Buy Rating Affirmed for Immersion on Strong Financials and Underestimated BNED Stake Value

Being able to recite the potential problems in the world does not make you a good investor.

The Bull Market Strengthened, Let The Naysayers Say Nay...

Immersion Corporation: This Company Delivered 3 Years' Worth Of Revenue In One Quarter

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Immersion Corporation Reports First Quarter 2024 Results

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Immersion Signs License Agreement with Samsung Electronics Co.

Barnes & Noble Education Announces Preliminary Fiscal Year 2024 Results

Barnes & Noble Education Shareholders Approve Milestone Equity and Refinancing Transactions to Significantly Strengthen Balance Sheet and Advance Industry Leading Services for Institutions and Students

Barnes & Noble Education Announces Final Results of Rights Offering

Barnes & Noble Education Successfully Completes Milestone Transactions to Significantly Strengthen Balance Sheet and Advance Industry Leading Services for Institutions and Students

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