Ashford [AINC] - Last Close: $2.22
Asset management firm Ashford has announced a plan to terminate registration of its common stock from the NYSE American exchange.
The company says it’s making the move to “avoid the substantial cost and expense of being a public reporting company” and enhance shareholder value.
The plan is expected to be initiated in Summer 2024, pending shareholder approval.
AINC is up 88.2% on 3 million shares traded.
My Take: This is a complicated financial maneuver, but the market seems to like it. It could result in a big payday for AINC shareholders when the deal closes.
Kidpik [PIK] - Last Close: $4.35
Tiny eCommerce seller Kidpik has officially entered into an all-stock definitive merger agreement with Nina Footwear.
Under the terms of the deal, Nina Footwear shareholders will be issued PIK common shares and own 80% of the combined company upon closing.
The newly combined company will change its name to Nina Holdings and trade under the symbol NINA.
PIK is up 36.6% on nearly 2 million shares traded.
My Take: The PIK deal will give you an opportunity to get into position in NINA early, but only time will tell if this stock’s gains will outlive the hype from this announcement.
VivoPower [VVPR] - Last Close: $1.45
A Form 8-K filing revealed VivoPower shareholders will get a special stock dividend as a SPAC merger agreement announced minutes ago.
Cactus Acquisition Corp I has agreed to a reverse merger with Tembo, an electric utility vehicle company and VivoPower subsidiary.
Under the terms of the deal, VVPR shareholders will receive 16.76 million Tembo Dividend Shares, representing 20% of its total float, upon closing.
Investors will receive 5 Tembo Dividend Shares for each VVPR share they hold.
VVPR is up 58.9%, but volume is thin at just 40K shares.
My Take: This seems like a pretty good deal for VVPR shareholders, but, then again, it’s somewhat offset by the spin-off of the company’s Tembo subsidiary.
MSP Recovery Class [LIFW] - Last Close: $0.6670
A Form 13G regulatory disclosure filed in yesterday’s aftermarket revealed Palantir Technologies [PLTR] has taken a 6.5% stake in MSP Recovery.
Palantir reported obtaining the stake in the healthcare recoveries & data analytics as of March 22nd, 2024.
The news propelled LIFW to a 51.4% gain on nearly 9 million shares traded in today’s premarket.
My Take: PLTR has deep pockets, and its small position could signal that it is interested in acquiring LIFW.
