Midland States Bancorp Azioni (NASDAQ: MSBI)

Midland States Bancorp (NASDAQ:MSBI) Azioni

Midland States Bancorp

Midland States Bancorp Inc is a diversified financial holding company. The company provides a full range of commercial and consumer banking products and services, business equipment financing, merchant credit card services, trust and investment management, and insurance and financial planning services. The Banking segment which generates the majority of the revenue, provides a wide range of financial products and services to consumers and businesses, including commercial, commercial real estate, mortgage and other consumer loan products; commercial equipment financing etc. The Wealth Management segment consists of trust and fiduciary services, brokerage and retirement planning services. The Other segment includes the operating results of the parent company.

Midland States Bancorp, Inc. - Common Stock

Midland States Bancorp Inc

Midland States Bancorp, Inc. - Depositary Shares Each Representing a 1/40th Interest in a Share of 7.750% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A

Sunoco LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>) ("Sunoco" or the "Partnership") and Parkland Corporation (TSX:<a class="ticker" href="https://www.benzinga.com/stock/PKI#TSX">PKI</a>) ("Parkland") announced today that the parties have entered into a definitive agreement whereby Sunoco will acquire all outstanding shares of Parkland in a cash and equity transaction valued at approximately $9.1 billion, including assumed debt. &nbsp;
&nbsp;
As part of the transaction, Sunoco intends to form a new publicly-traded Delaware limited liability company named SUNCorp, LLC ("SUNCorp"). SUNCorp will hold limited partnership units of Sunoco that are economically equivalent to Sunoco's publicly-traded common units on the basis of one Sunoco common unit for each outstanding SUNCorp unit.&nbsp;This new publicly-traded entity will be treated as a corporation for tax purposes. For a period of two years following closing of the transaction, Sunoco will ensure that SUNCorp unitholders will receive the same dividend equivalent as the distribution to Sunoco unitholders.
Transaction Details
Under the terms of the agreement, Parkland shareholders will receive 0.295 SUNCorp units and C$19.80 for each Parkland share, implying a 25% premium based on the 7-day VWAP's of both Parkland and Sunoco as of May 2, 2025. Parkland shareholders can elect, in the alternative, to receive C$44.00 per Parkland share in cash or 0.536 SUNCorp units for each Parkland share, subject to proration to ensure that the aggregate consideration payable in connection with the transaction does not exceed C$19.80 in cash per Parkland share outstanding as of immediately before close and 0.295 SUNCorp units per Parkland share outstanding as of immediately before close.
Sunoco has secured a $2.65 billion 364-day bridge term loan for the proposed cash consideration.
The transaction has been unanimously approved by the board of directors of both companies and is expected to close in the second half of 2025 upon the satisfaction of closing conditions, including approval by Parkland's shareholders and customary regulatory and stock exchange listing approvals.

News

TSX:PKI

Sunoco to Acquire Parkland Corporation in $9.1B Cash and Equity Deal

RIME

Algorhythm's Subsidiary Announced The Acquisition Of 9,999 Of The 10,000 Issued And Outstanding Equity Shares Of Semicab India In Exchange Of A $1.75M Promissory Note And 119,742 Shares Of Its Common Stock

Ocular Therapeutix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCUL#NASDAQ">OCUL</a>) reported quarterly losses of $(0.38) per share which missed the analyst consensus estimate of $(0.29) by 31.03 percent. This is a 35.71 percent decrease over losses of $(0.28) per share from the same period last year. The company reported quarterly sales of $10.70 million which missed the analyst consensus estimate of $16.83 million by 36.44 percent. This is a 27.59 percent decrease over sales of $14.77 million the same period last year.

Earnings

Earnings Misses

OCUL

Ocular Therapeutix Q1 EPS $(0.38) Misses $(0.29) Estimate, Sales $10.70M Miss $16.83M Estimate

Stanford-led study included over 2,100 Signatera samples from over 200 sarcoma patients, with overall sensitivity of 89% and specificity of 100%
Leiomyosarcoma, the most common subtype in the cohort, demonstrated sensitivity of 93% and specificity of 100%

NTRA

Natera's Signatera Shows 93% Sensitivity In Leiomyosarcoma, Most Common Sarcoma Subtype In Study

Demonstrated Dose Dependent Effect in EAU
Presented in a podium presentation at The Association for Research in Vision and Ophthalmology (ARVO) 2025 annual meeting
PRINCETON, N.J., May 05, 2025 (GLOBE NEWSWIRE) -- ANI Pharmaceuticals, Inc. (ANI or the Company) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANIP#NASDAQ">ANIP</a>) today announced preclinical data on the use of Purified Cortrophin&#xAE; Gel (repository corticotropin injection USP) (Cortrophin Gel) in an EAU mouse model.
"In a preclinical model of autoimmune uveitis, Cortrophin Gel reduced levels of inflammatory molecules without stimulating an adverse immune response," said Mary Pao, MD, PhD, Chief Medical Officer of Rare Disease at ANI. "The results further support our understanding of Cortrophin Gel's mechanism of action."
An experimental autoimmune uveitis (EAU) mouse model was used to determine the impact of four doses (4, 40, 160 or 400 U/kg) of repository corticotrophin injection (RCI, an equivalent to Cortrophin Gel in this model). The results showed a significant dose-dependent effect on the suppression of EAU at all doses, with the greatest suppression of EAU at the 400 U/kg dose. RCI also significantly suppressed the production of cytokines implicated in inflammation and immune system activation. Additionally, 400 U/kg Purified Cortrophin Gel treatment suppressed retinal damage caused by EAU, similar to α-MSH treatment, compared to placebo.
"The data presentation at ARVO is part of ANI's broader commitment to clinical research for our products and, specific to Cortrophin Gel, we are committed to building on the scientific evidence and clinical data supporting its mechanism of action and clinical use," said Nikhil Lalwani, President and Chief Executive Officer at ANI.

Biotech

General

ANIP

ANI Pharmaceuticals Announces Presentation Of Preclinical Data On Use Of Purified Cortrophin Gel In An Experimental Autoimmune Uveitis Mouse Model

Telsey Advisory Group analyst Dana Telsey maintains Zevia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZVIA#NYSE">ZVIA</a>) with a Market Perform and maintains $3 price target.

Price Target

Analyst Ratings

ZVIA

Telsey Advisory Group Maintains Market Perform on Zevia, Maintains $3 Price Target

KMDA

Kamada Launches Post-Marketing Research Program For CYTOGAM

Pershing Square to Support HHH's Strategic Expansion Through Investment, Advisory, and Other Resources
HHH Will Operate as a Diversified Holding Company Seeking to Acquire Controlling Interests in High-Quality, Durable Growth Public and Private Companies
Howard Hughes Corporation, HHH's Real Estate Development Business and Principal Subsidiary,&nbsp;Will Continue as the Nation's Leading Community Builder
Pershing Square's Primary Purchase of HHH Stock for $100.00 per Share&nbsp;Represents a 48% Premium to Friday's Closing Price
Pershing Square Will Now Own 46.9% of the Company
Pershing Square's Investment Materially Improves Howard Hughes' Credit Profile and Strategic and Financial Flexibility
THE WOODLANDS, Texas and NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HHH#NYSE">HHH</a>) (the "Company," "Howard Hughes" or "HHH") and Pershing Square Holdco, L.P. and its wholly owned subsidiary, Pershing Square Capital Management, L.P. (collectively, "Holdco" or "Pershing Square"), today announced an agreement pursuant to which Pershing Square will today invest $900 million to acquire 9,000,000 newly issued shares of HHH. Pershing Square's investment will enable HHH to become a diversified holding company by acquiring controlling stakes in high-quality, durable growth public and private operating companies while continuing to invest in and grow the Company's core real estate development and Master Planned Communities business.
Pershing Square's acquisition of $900 million of newly issued shares of HHH common stock for $100.00 per share represents a premium of 48% to HHH's closing share price on Friday, May 2, 2025. Pershing Square will now own 46.9% of HHH shares outstanding. Pershing Square has generally agreed to limit its voting power to 40% and its beneficial ownership to 47%.
Pershing Square's Chairman and Chief Executive Officer, Bill Ackman, has been named the Executive Chairman of the HHH Board of Directors. Ryan Israel, Pershing Square's Chief Investment Officer, will become HHH's Chief Investment Officer, a new senior leadership role at the Company. The HHH leadership team, led by CEO David O'Reilly, will remain unchanged with expanded roles and responsibilities. HHH's other employees will remain unchanged.
As part of the transaction, the entire Pershing Square organization will now be available to HHH to support the Company's transformation by providing investment, advisory, and other ancillary services, including corporate development, transaction execution, and capital markets assistance. Pershing Square will also assist HHH in identifying and hedging macro-related risks.
Pershing Square Holdco is owned 90% by Pershing Square principals and 10% by strategic investors. Holdco's $900 million investment represents a ‘look-through' cash investment by Pershing Square principals of $810 million. When combined with the Pershing Square funds' existing ownership, this represents a total look-through investment in HHH of $1.2 billion by Pershing Square's principals.
HHH will pay Pershing Square a quarterly base fee of $3.75 million and a quarterly management fee equal to 0.375% of the increase in HHH's equity market capitalization above the Reference Market Cap of the Company. &nbsp;The Reference Market Cap is determined by multiplying the post-transaction share count of 59,393,938 (the "Reference Share Count") by the Reference Market Price of $66.1453, which is adjusted annually for inflation, subject to equitable adjustment for stock splits, reclassifications or similar capital changes. The Reference Share Count does not change in the event the Company issues additional shares to raise equity, to acquire a company for stock, or to provide equity compensation to employees. As a result, the management fee will not increase due to share issuances. It will only increase if the Company's share price compounds at a rate in excess of inflation.&nbsp;
HHH will not pay any additional fees, cash compensation, or equity incentives to Pershing Square or its principals or employees.
"This transaction is the result of a rigorous process overseen by HHH's Special Committee, which included evaluation of each of Pershing Square's proposals, feedback from HHH stockholders and robust negotiations with Pershing Square's principals to reach a mutually favorable outcome," said Scot Sellers, Chairman of the Special Committee. Mr. Sellers continued, "We believe this agreement not only reflects the value that HHH has created in recent years, but it also positions the Company to transform its strategy, with enhanced value creation opportunities and upside potential, while improving its credit profile. With Bill's and Ryan's long-term track record of investment success, along with the expertise and support of the entire Pershing Square team, HHH will seek to acquire controlling interests in high-quality, cash-flow-generative public and private companies for the benefit of all HHH stockholders. We are confident the Company is now even better positioned to deliver long-term, sustainable value for our stockholders."
"I am delighted to return to HHH as its Executive Chairman with the addition of Ryan to assist in transforming the Company to a diversified holding company," said Bill Ackman. "HHH has built substantial value for shareholders in recent years that has largely gone unrecognized due to the high cost of capital that the market assigns to the Company in light of its pure-play exposure to real estate development and community creation. We believe that HHH is a superb platform to build a faster-growing, high-returning holding company that will acquire control of companies that meet Pershing Square's criteria for business quality and durable growth. We are looking forward to working with David and the rest of the HHH team in creating long-term value."

Pershing Square Announces $900M Investment To Acquire 9M Newly Issued Shares Of Howard Hughes Holdings At $100 Per Share

<ul>
<li>At 9 months active drug continued to be released into the esophagus in patients at a rate similar to what was seen at the 3- and 6-month time points. This is an unprecedented result with an injectable delivery system in patients with EoE</li>
<li>Also, at 9 months patients demonstrated sustained or improved treatment outcomes compared to 3- and 6-month results</li>
<li>Additional long-term data to be released with higher doses in Q3 2025</li>
<li>Eupraxia to host webinar with guest, Dr. Evan Dellon, to discuss data from RESOLVE trial on Friday, May 9th at 9:00am ET (Register <a href="https://lifescievents.com/event/eupraxia-2/">here</a>) &nbsp;</li>
</ul>
VICTORIA, British Columbia, May 05, 2025 (GLOBE NEWSWIRE) -- Eupraxia Pharmaceuticals Inc. ("Eupraxia" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPRX#NASDAQ">EPRX</a>) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/EPRX#TSX">EPRX</a>), a clinical-stage biotechnology company leveraging its proprietary DiffuSphere&#x2122; technology designed to optimize drug delivery for applications with significant unmet need, today announced positive treatment outcomes from its ongoing RESOLVE Phase 1b/2a trial evaluating EP-104GI for the treatment of eosinophilic esophagitis ("EoE"). Most notably, nine-month data was disclosed for the first time demonstrating that all three patients dosed at 48mg of EP-104GI experienced sustained or improved treatment outcomes after nine months of therapy.

EPRX

TSX:EPRX

Eupraxia Pharma Announces Treatment Outcomes From Ongoing RESOLVE Phase 1b/2a Trial Evaluating EP-104GI For Treatment Of Eosinophilic Esophagitis

Paramount Gold Nevada Announced That The High-grade Grassy Mountain Gold Project In Malheur County, Oregon, Has Been Selected For Inclusion In The Federal Government's FAST-41 Program

Telsey Advisory Group analyst Dana Telsey maintains Peloton Interactive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>) with a Market Perform and lowers the price target from $11 to $9.

PTON

Telsey Advisory Group Maintains Market Perform on Peloton Interactive, Lowers Price Target to $9

DNTH

Dianthus Therapeutics Completes Enrollment In Phase 2 MaGic Trial 
Of DNTH103; Top-Line Results Expected in September

Asset Sales

NOTE

FiscalNote Enters Agreement To Divest Its Australian Subsidiary, TimeBase To Thomson Reuters Corporation For Total Consideration Of $6.5M; Not Withstanding Divestiture Impact, co. Reaffirms 2025 Forecase

Leading diversified professional services and investment management company, Colliers ((NASDAQ, TSX:<a href="https://www.benzinga.com/stock/CIGI#TSX">CIGI</a>), announced today that its Colliers Engineering &amp; Design ("Colliers Engineering") division has acquired Terra Consulting Group, LLC ("Terra"), a specialty telecommunications infrastructure engineering firm based in Chicago, Illinois. This acquisition strengthens Colliers Engineering's footprint in the Midwest and positions the platform to capitalize on the rapid growth in the telecommunications sector. Terms of the transaction were not disclosed.
Founded in 1994, Terra's 70 employees provide telecommunications engineering, land development, site acquisition and structural design services from five offices througout the Midwest region.
"Terra brings deep expertise and relationships in the telecommunications sector, bolstering our existing capabilities and allowing us to further capitalize on the rapid growth in the industry," said Kevin L. Haney, PE, President &amp; CEO, Colliers Engineering. "We are excited to welcome the Terra team to the Colliers family."
"Joining Colliers Engineering &amp; Design will allow us to offer more comprehensive and integrated services to our clients," said John J. Zimmermann, PE, President, Terra. "Colliers' entreprenurial culture and client service focus aligns perfectly with how we operate, and we are confident that joining forces will create many opportunities and continued success for our people."&nbsp;

CIGI

Colliers Announces That Its Colliers Engineering & Design Division Has Acquired Terra Consulting Group; Terms Not Disclosed

TG Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TGTX#NASDAQ">TGTX</a>) reported quarterly earnings of $0.03 per share which missed the analyst consensus estimate of $0.17 by 82.35 percent. This is a 142.86 percent increase over losses of $(0.07) per share from the same period last year. The company reported quarterly sales of $120.86 million which beat the analyst consensus estimate of $118.43 million by 2.05 percent. This is a 90.40 percent increase over sales of $63.47 million the same period last year.

Earnings Beats

TGTX

TG Therapeutics Q1 EPS $0.03 Misses $0.17 Estimate, Sales $120.86M Beat $118.43M Estimate

<ul>
<li>The U.S. FDA has approved SELARSDI&#x2122; (ustekinumab-aekn) as interchangeable with the reference biologic Stelara&#xAE; (ustekinumab) in all presentations matching the reference product, effective as of April 30, 2025</li>
<li>SELARSDI is approved for all indications matching the reference product</li>
<li>SELARSDI is indicated for the treatment of moderate to severe plaque psoriasis and active psoriatic arthritis in adults and pediatric patients 6 years and older, and the treatment of adult patients with moderately to severely active Crohn's disease and ulcerative colitis</li>
</ul>
PARSIPPANY, N.J. and REYKJAVIK, Iceland, May 05, 2025 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), and Alvotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALVO#NASDAQ">ALVO</a>) today announced that the U.S. Food and Drug Administration (FDA) has approved SELARSDI&#x2122; (ustekinumab-aekn) injection as interchangeable with the reference biologic Stelara&#xAE; (ustekinumab). As of April 30, 2025, SELARSDI is available and interchangeable in all presentations matching the reference product, including the treatment of adults and pediatric psoriatic arthritis and plaque psoriasis, as well as Crohn's disease, and ulcerative colitis.

ALVO

TEVA

Teva Pharma And Alvotech Announce FDA Approval For SELARSDI Injection As Interchangeable With Reference Biologic Stelara

iRadimed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRMD#NASDAQ">IRMD</a>) reported quarterly earnings of $0.42 per share which beat the analyst consensus estimate of $0.41 by 2.44 percent. This is a 16.67 percent increase over earnings of $0.36 per share from the same period last year. The company reported quarterly sales of $19.51 million which beat the analyst consensus estimate of $19.33 million by 0.93 percent. This is a 10.87 percent increase over sales of $17.60 million the same period last year.

IRMD

iRadimed Q1 Adj. EPS $0.42 Beats $0.41 Estimate, Sales $19.51M Beat $19.33M Estimate

Chardan Capital analyst Daniil Gataulin maintains Tourmaline Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRML#NASDAQ">TRML</a>) with a Buy and maintains $70 price target.

TRML

Chardan Capital Maintains Buy on Tourmaline Bio, Maintains $70 Price Target

NAPCO Security Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NSSC#NASDAQ">NSSC</a>) reported quarterly earnings of $0.28 per share which beat the analyst consensus estimate of $0.27 by 3.7 percent. This is a 22.22 percent decrease over earnings of $0.36 per share from the same period last year. The company reported quarterly sales of $43.96 million which beat the analyst consensus estimate of $43.14 million by 1.91 percent. This is a 10.77 percent decrease over sales of $49.27 million the same period last year.

NSSC

NAPCO Security Techs Q3 GAAP EPS $0.28 Beats $0.27 Estimate, Sales $43.96M Beat $43.14M Estimate

Angel Oak Mortgage REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AOMR#NYSE">AOMR</a>) reported quarterly earnings of $0.17 per share which missed the analyst consensus estimate of $0.29 by 41.38 percent. This is a 54.55 percent increase over earnings of $0.11 per share from the same period last year. The company reported quarterly sales of $10.09 million which missed the analyst consensus estimate of $11.43 million by 11.76 percent. This is a 17.58 percent increase over sales of $8.58 million the same period last year.

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Midland States Bancorp

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