Latest news for Beonic (OTC:SFIIF) Stock

Beonic Ltd is a data analytics and marketing services technology company providing a cloud-based SaaS (Software as a Service) solution called 'IO'. The IO platform is comprised of three core product modules; IO Connect (data collection), IO Insight (data analytics), and IO Engage (marketing tools). The company serves shopping centers, airports, retail stores, education, cities and, and hospitality. The company generates maximum revenue from APAC. The company has three geographical sectors, the development and commercialization of data analytics, marketing, and advertising services to its customers in APAC, Americas, and EMEA.

Beonic Ltd

Lawrence E. Kurzius, Executive Chairman of the Board of McCormick &amp; Company, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>), a global leader in flavor, announced that he will end his eight years of service as Chairman on December 31, 2024.&nbsp; Mr. Kurzius will continue as a Board member for McCormick, where he was employed for 22 years.&nbsp; He will not stand for re-election at the Company's annual shareholder meeting in March 2025.&nbsp; Mr. Kurzius transitioned the Chief Executive Officer responsibilities to Brendan Foley in September 2023 and continued to serve as Executive Chairman since that time.
McCormick's Board of Directors has appointed Brendan Foley, the Company's President and Chief Executive Officer, to succeed Mr. Kurzius as Chairman, in addition to his current duties, effective January 1, 2025.

News

Management

McCormick & Company Announces Brendan Foley To Succeed Lawrence Kurzius As Chairman Of The Board, Effective January 1, 2025

Goldman Sachs analyst Robert Cox upgrades WR Berkley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRB#NYSE">WRB</a>) from Neutral to Buy and announces $69 price target.

Upgrades

Price Target

Analyst Ratings

Goldman Sachs Upgrades WR Berkley to Buy, Announces $69 Price Target

Macy&#8217;s Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) shares are trading lower premarket on Monday after the company delayed its earnings release and conference call regarding the&nbsp;third quarter&nbsp;of 2024 to allow for <a target="_blank" href="https://www.benzinga.com//node/42159940" rel="noreferrer noopener">the completion of an independent investigation.</a>
Earlier, the company planned to report its&nbsp;third-quarter&nbsp;sales and earnings results on <a target="_blank" href="https://www.benzinga.com//node/41824312" rel="noreferrer noopener">Tuesday, November 26, 2024.&nbsp;</a>
Accounting Error: Macy&#8217;s disclosed that an internal investigation revealed that an employee intentionally concealed $132 million-$154 million in delivery expenses from fourth-quarter 2021 to third-quarter 2024. During this same time period, the company recognized approximately&nbsp;$4.36 billion&nbsp;of delivery expenses.&nbsp;
There was no impact on cash management or vendor payments and the employee is no longer with the company, and no other employees were involved.
Preliminary&nbsp;Q3 Results: Meanwhile, the company reported preliminary&nbsp;third-quarter results, with a 2.4% decline in net sales to $4.742 billion (consensus $4.72 billion), with comparable sales down 2.4% on an owned basis and 1.3% on an owned-plus-licensed-plus-marketplace basis.
The company&#8217;s weaker performance in non-First 50 locations, the digital channel, and cold weather categories offset the growth in Macy&#8217;s First 50 locations, Bloomingdale&#8217;s, and Bluemercury.
Macy&#8217;s reported a 2.0% decline in go-forward business comparable sales on an owned basis and a 0.9% decline, including licensed and marketplace sales.
Also, the company saw a 3.1% drop in Macy&#8217;s&nbsp;nameplate net sales, with comparable sales down 3.0% owned and 2.2% on an owned-plus-licensed-plus-marketplace basis, driven by strong performances in fragrances, dresses, and active apparel.
Meanwhile, Bloomingdale&#8217;s net sales rose 1.4%, with comparable sales up 1.0% on an owned basis and 3.2% including licensed and marketplace sales, driven by strength in contemporary apparel, beauty, and digital.
Bluemercury saw a 3.2% increase in net sales and 3.3% growth in comparable sales on an owned basis, marking the fifteenth consecutive quarter of growth, with strong customer demand for skincare products.
Merchandise inventories increased 3.9% year-over-year, driven by better inventory composition and supply chain efficiencies, with about half of the increase attributed to the conversion to cost accounting.
Heading into the fourth quarter, the company believes it has the right <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">level of newness for the holiday season</a>.
As of the end of third-quarter, the company had $315 million in cash and cash equivalents, with $2.77 billion of available borrowing capacity.
Asset sale gains of $66 million were $61 million higher than last year, led by the monetization of non-core assets under the company&#8217;s Bold New Chapter strategy.
The company expects to report its full&nbsp;third-quarter&nbsp;results and hold its earnings conference call, where it will provide its&nbsp;fourth-quarter&nbsp;and <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">full-year outlooks, by December 11, 2024.</a>
Tony Spring, chairman and chief executive officer of Macy&#8217;s, said, &#8220;Our Macy&#8217;s First 50 locations achieved their third consecutive quarter of comparable sales growth. At the same time, our luxury brands, Bloomingdale&#8217;s and Bluemercury, reported positive comparable sales. Importantly, November comparable sales are trending ahead of third quarter levels across nameplates.&#8221;
In September, Macy&#8217;s planned to hire over 31,500 seasonal employees across Macy&#8217;s, Bloomingdale&#8217;s, and Bluemercury<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40955083/holiday-opportunity-macys-plans-to-hire-31-500-seasonal-workers" rel="noreferrer noopener"> stores and distribution centers</a>.
Investors can gain exposure to the stock via WBI Power Factor High Dividend ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBIY#NYSE">WBIY</a>) and Invesco S&amp;P Midcap 400 Pure Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RFV#NYSE">RFV</a>).
Price Action: M shares are down 3.07% at $15.80 premarket at the last check Monday.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/42160614" target="_blank" rel="noreferrer noopener">Satya Nadella Promises &#8216;Culture Change&#8217; After Security Lapses Return To Haunt Microsoft 20 Years After Bill Gates Launched A Similar Initiative</a></li>
</ul>

Earnings

Equities

Mid Cap

Guidance

Movers

General

Rydex ETF Trust S&P Midcap 400 Pure Value ETF

WBIY

Macy's Delays Q3 Earnings Report Amid Investigation Over $154M Accounting Scandal; Stock Dips

HC Wainwright &amp; Co. analyst Matthew Caufield initiates coverage on Immunic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMUX#NASDAQ">IMUX</a>) with a Buy rating and announces Price Target of $10.

Initiation

IMUX

HC Wainwright & Co. Initiates Coverage On Immunic with Buy Rating, Announces Price Target of $10

BCOV

Trading Halt: Halt status updated at 8:25:00 AM ET: Quotation Resumption: News and Resumption Times

Snowflake Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) experienced a 3.52% increase in pre-market trading on Monday, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
What Happened:&nbsp;This rise followed an upgrade from Neutral to Outperform by Dan Ives&#8216; Wedbush, with a revised price target of $190.&nbsp;Wedbush analysts expressed heightened optimism about the software sector&#8217;s role in the evolving AI Revolution, projecting growth into 2025. 
Wedbush&#8217;s analysis suggests that Snowflake is well-positioned to capitalize on the anticipated advancements in artificial intelligence, which is expected to drive significant growth in the software industry over the coming years.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Now its time for the broader software space to get in on the AI Party as we believe the use cases are exploding, enterprise consumption phase is ahead of us in 2025, launch of LLM models across the board, and the true adoption of generative AI. SNOW $190 and ESTC $135 &#x1f402;&#x1f3c6;&#x1f37f;&#x1f447; <a href="https://t.co/g5qcD9HGha">https://t.co/g5qcD9HGha</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1860827487342645333?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/11/42152947/satellite-images-reveal-north-korea-reportedly-receiving-illicit-oil-from-russia?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Satellite Images Reveal North Korea Reportedly Receiving Illicit Oil from Russia</a>
Why It Matters: The recent upgrades by Wedbush come on the heels of&nbsp;Snowflake&#8217;s<a href="https://www.benzinga.com/24/11/42117057/snowflake-stock-is-blazing-higher-thursday-whats-going-on"> impressive third-quarter financial results</a>, which exceeded analyst expectations. Snowflake reported revenue of $942.09 million, surpassing the estimated $896.99 million. The company&#8217;s adjusted earnings were 20 cents per share, beating the forecasted 15 cents per share.
Snowflake&#8217;s total revenue increased by 28% year-over-year, with product revenue rising by 29%. The net revenue retention rate stood at 127% for the quarter. Additionally, the remaining performance obligations reached $5.7 billion, marking a 55% year-over-year growth.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/11/42134031/markets-got-it-wrong-after-elections-prospects-of-tariffs-not-good-for-equities-vs-dollar-says-ex-goldman-sachs-analyst?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Markets Misread Trump Win, Says Ex-Goldman Sachs Analyst: &#8216;Prospects Of Tariffs Not Good For Equities&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Pre-Market Outlook

Markets

SNOW

Snowflake Surges In Pre-Market On Monday: What's Going On?

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4310591-1&amp;h=595178996&amp;u=https%3A%2F%2Fwww.equinix.com%2F&amp;a=Equinix%2C+Inc.">Equinix, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EQIX#NASDAQ">EQIX</a>), the world's digital infrastructure company&#xAE;, today announced that it has issued an additional €1.15 billion in green bonds. This builds on more than <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4310591-1&amp;h=1997079284&amp;u=https%3A%2F%2Fwww.equinix.com%2Fnewsroom%2Fpress-releases%2F2024%2F09%2Fequinix-issues-more-than-750-million-in-green-bonds-to-drive-sustainability-initiatives&amp;a=%24750+million+offerings">$750 million offerings</a> in green bonds that Equinix completed in September this year. With these latest issuances, Equinix will have issued a total of approximately $6.9 billion of green bonds, making it a top 5 issuer of green bonds in the U.S. Equinix will utilize the green bonds to further its sustainability initiatives and enhance the operational efficiency of its global business.

EQIX

Equinix Expands Sustainability Initiatives With Additional €1.15 Billion In Green Bonds

Goldman Sachs analyst Tina Hou downgrades NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) from Neutral to Sell and lowers the price target from $4.8 to $3.9.

Downgrades

Goldman Sachs Downgrades NIO to Sell, Lowers Price Target to $3.9

WIIM

RGTI

Rigetti shares are trading higher after the company completed a $100 million at-the-market equity offering, with plans to use the proceeds for working capital, capital expenditures, and advancements in superconducting quantum computing technology.

STXS

Stereotaxis Genesis Robotic System Secures Regulatory Approval In China, Marking Key Milestone In Partnership With MicroPort EP For Commercial Launch Of Advanced Robotic And Electrophysiology Solutions

Kenneth M. Jacobs Becomes Senior Chairman of the Firm
Richard D. Parsons Honored for Board Service
Lazard, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAZ#NYSE">LAZ</a>) today announced that <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.lazard.com%2Four-people%2Fdan-schulman%2F&amp;esheet=54157314&amp;newsitemid=20241125060990&amp;lan=en-US&amp;anchor=Dan+Schulman&amp;index=1&amp;md5=9294548d22d082dcbbe72301bde1930a">Dan Schulman</a>, Board Member, has been appointed Lead Independent Director to succeed <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.lazard.com%2Four-people%2Frichard-d-parsons%2F&amp;esheet=54157314&amp;newsitemid=20241125060990&amp;lan=en-US&amp;anchor=Richard+D.+Parsons&amp;index=2&amp;md5=7551326cfaedc7f2d975c528ec35a23c">Richard D. Parsons</a>, who remains on the Board, and that <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.lazard.com%2Four-people%2Fpeter-r-orszag%2F&amp;esheet=54157314&amp;newsitemid=20241125060990&amp;lan=en-US&amp;anchor=Peter+R.+Orszag&amp;index=3&amp;md5=33bfe6ade736456635c0ba1bc89a1282">Peter R. Orszag</a>, Lazard CEO and Board Member, has been appointed Chairman of the Board, effective January 1, 2025.
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.lazard.com%2Four-people%2Fkenneth-jacobs%2F&amp;esheet=54157314&amp;newsitemid=20241125060990&amp;lan=en-US&amp;anchor=Kenneth+M.+Jacobs&amp;index=4&amp;md5=15c384676e8047d00a69bda405018059">Kenneth M. Jacobs</a>, Executive Chairman and Board Member, will become Senior Chairman of the Firm and Senior Advisor to the Board, and relinquish his board seat effective December 31, 2024. In his role as Senior Chairman, Mr. Jacobs will continue to advise many of the firm's most important clients and relationships globally.
These transitions represent a successful, multi-year succession planning process across Board and senior leadership at the firm.

Lazard Appoints Peter R. Orszag As Chairman Of The Board; Kenneth M. Jacobs Becomes Senior Chairman Of The Firm

Targeting $150B U.S. And EMEA Markets While Addressing Underserved Communities Through BEAD Program

GRRR

Gorilla And BroadSat Partner To Revolutionize Digital Connectivity With Smart Cities And AI Cybersecurity Solutions

Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>, "Meritage" or the "Company"))), the fifth-largest homebuilder in the U.S., today announced that its Board of Directors has declared a two-for-one stock split of Meritage's common stock in the form of a stock dividend. Each stockholder of record at the close of business on December 31, 2024 will receive one additional share of common stock for each share of common stock held, payable after the close of market on January 2, 2025. Trading will begin on a split-adjusted basis on January 3, 2025.

Stock Split

Meritage Homes Announces 2-For-1 Stock Split; Trading Will Begin On A Split-Adjusted Basis On January 3, 2025

Eyenovia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EYEN#NASDAQ">EYEN</a>) ("Eyenovia" or the "Company"), an ophthalmic technology company developing and commercializing advanced products leveraging its proprietary Optejet topical ophthalmic medication dispensing platform, today announced that it has entered into a securities purchase agreement with a healthcare focused institutional investor for the purchase and sale of 12,081,785 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to an aggregate of 24,163,570 shares of common stock in a registered direct offering at a combined offering price of $0.1076 per share and accompanying warrants. The warrants will have an exercise price of $0.1076 per share, will be exercisable commencing six months from the date of issuance and will expire five years from the initial exercise date. The closing of the offering is expected to take place on or about November 26, 2024, subject to the satisfaction of customary closing conditions.
The gross proceeds of the offering will be approximately $1.3 million before deducting placement agent fees and other estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes, which may include the partial repayment of amounts outstanding under the Loan and Security Agreement with Avenue Capital Management II, L.P. and related entities, and, to the extent possible, advancement of the Company's next generation Optejet device, commercialization activities for Mydcombi and clobetasol propionate, and the exploration and pursuit of strategic alternatives.
Chardan is acting as sole placement agent for the offering.

Offerings

EYEN

Eyenovia, Inc. Announces Pricing Of $1.3M Registered Direct Offering

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Axsome Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXSM#NASDAQ">AXSM</a>) with a Buy and maintains $180 price target.

Reiteration

AXSM

HC Wainwright & Co. Reiterates Buy on Axsome Therapeutics, Maintains $180 Price Target

Palantir Technologies Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) experienced a 3.25% increase in pre-market trading on Monday, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>. This rise follows the company&#8217;s recent announcement of its transition&nbsp;from the NYSE to the&nbsp;Nasdaq, with trading set to begin on Nov. 26.
Palantir&#8217;s stock will continue under the ticker &#8220;PLTR.&#8221; The <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42014351/palantir-prepares-nasdaq-move-could-nasdaq-100-be-next">move to Nasdaq </a>is part of a broader trend, as the exchange has attracted 16 significant companies this year, including&nbsp;Science Applications International Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAIC#NYSE">SAIC</a>) and&nbsp;Campbell Soup Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPB#NYSE">CPB</a>). 
While Palantir has not confirmed any plans to join the Nasdaq-100, the potential inclusion could enhance its visibility and attract investor interest. Historically, companies switching to Nasdaq have often joined this prestigious index, which could lead to increased demand for Palantir shares. 
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42152684/musk-tweet-sparks-dogecoin-surge-fuels-speculation-on-x-payments?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Musk Tweet Sparks Dogecoin Surge, Fuels Speculation On X Payments</a>
Why It Matters: The transition of Palantir Technologies Inc. to the Nasdaq comes amid a significant surge in its stock value, which has increased by 288% year-to-date. This remarkable growth is partly attributed to the company&#8217;s strategic focus on artificial intelligence. 
Dan Ives has raised <a href="https://www.benzinga.com/news/global/24/11/42156160/palantir-price-target-raised-to-75-by-dan-ives-amid-288-ytd-surge-analyst-calls-2025-a-primetime-year-for-ai">Palantir&#8217;s price target</a> to $75, reflecting confidence in the AI software sector&#8217;s potential. Ives predicts that 2025 will be a pivotal year for AI implementation, further boosting the software sector&#8217;s growth. This optimistic outlook aligns with Palantir&#8217;s ongoing efforts to enhance its AI capabilities, positioning the company to capitalize on the anticipated AI revolution.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/11/42134031/markets-got-it-wrong-after-elections-prospects-of-tariffs-not-good-for-equities-vs-dollar-says-ex-goldman-sachs-analyst?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Markets Misread Trump Win, Says Ex-Goldman Sachs Analyst: &#8216;Prospects Of Tariffs Not Good For Equities&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

PLTR

SAIC

Palantir Surges In Monday Pre-Market As Top Tech Bull Raises Price Target To $75 Ahead Of Nasdaq Listing

Rigetti Completes $100M At-The-Market Equity Offering, Plans To Use Proceeds For Working Capital, Capital Expenditures, And Advancements In Superconducting Quantum Computing Technology

Chanson International Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHSN#NASDAQ">CHSN</a>) (the "Company" or "Chanson"), a provider of bakery, seasonal, and beverage products through its chain stores in China and the United States, today announces a collaboration with a leading hotel and restaurant management enterprise in Yili, Xinjiang, China, Xinjiang Hengtai Investment Co., Ltd. ("Xinjiang Hengtai") to expand its coffee brand, Soul ● Song, through a franchise operation model in Yili. This milestone marks significant progress in the development of Chanson's Soul ● Song brand, further deepening its market presence and extending its brand influence in the Xinjiang region.
In July 2024, the Company celebrated the grand opening of a Soul ● Song café in partnership with Xinjiang Hengtai at the scenic Nalati National Tourist Resort in Yili, Xinjiang, China. Soul ● Song's innovative "blend bean concept" highlights the art of blending, offering diverse flavors to suit every customer's unique taste. The café quickly became a must-visit destination within the resort, breaking the Company's single-day coffee-related sales record by achieving daily sales of RMB 30,000 on both August 8 and August 15, 2024. This marks Chanson's first attempt in adopting a franchise model, partnering with a distinguished local enterprise for mutual growth and success. Building on its growing influence in the Yili region, the Company plans to open five additional Soul ● Song cafés under the franchise model by 2025.

CHSN

Chanson International Holding Announces A Collaboration With Xinjiang Hengtai Investment Co., Ltd. To Expand Its Coffee Brand, Soul Song, Through A Franchise Operation Model In Yili

Highlights How Positive Data in AIM's Clinical Pipeline and Big Pharma Partnerships are Positioning the Company for Commercialization Opportunities in High-Value Indications Including Pancreatic Cancer
Warns Shareholders of Its Belief that the Activist Group and Its Nominees Have a Self-Interested Agenda and Could Put AIM's Clinical Progress at Risk
Urges Shareholders to Safeguard AIM by Voting "FOR" ALL Four of the Board's Incumbent Candidates and Discarding Any Proxy Materials from the Activist Group
Shareholders Can View and Download the Presentation <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Faimimmunotech.s3.us-west-1.amazonaws.com%2FAIM%2BInvestor%2BPresentation%2B%28November%2B2024%29.pdf&amp;esheet=54157417&amp;newsitemid=20241125176144&amp;lan=en-US&amp;anchor=Here&amp;index=1&amp;md5=aebd9987f2d8525d889b11917beb3e81">Here</a>
AIM ImmunoTech Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIM#NYSE">AIM</a>) ("AIM" or the "Company") today issued a <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Faimimmunotech.s3.us-west-1.amazonaws.com%2FAIM%2BInvestor%2BPresentation%2B%28November%2B2024%29.pdf&amp;esheet=54157417&amp;newsitemid=20241125176144&amp;lan=en-US&amp;anchor=presentation&amp;index=2&amp;md5=f3ad08194b4528269f1b5432d10f7266">presentation</a> in connection with its upcoming 2024 Annual Meeting of Stockholders the ("Annual Meeting"), presently scheduled for December 17, 2024.
Highlights of the presentation include the following:
<ul>
<li>AIM is executing on its strategy to create long-term value for patients and shareholders by driving clinical development programs in areas with critical unmet needs, especially in the high-value pancreatic cancer space.</li>
<li>AIM's clinical pipeline has significant momentum and is laying the groundwork for commercialization opportunities by delivering exciting data across clinical trials, including in two ongoing studies with AstraZeneca and Merck. These commercialization opportunities are what can drive substantial value creation.</li>
<li>If elected, the Activist Group intends to seek over $5 million from AIM to pay for its previous takeover attempts and litigation against the Company that the Activist Group lost, in addition to any expenses incurred in connection with its solicitation for this year's Annual Meeting. The Activist Group disclosed that it does notintend to put this personal reimbursement to a shareholder vote.</li>
<li>Despite AIM's best attempts at a constructive settlement that would put two of the Activist Group's nominees on the Board, the Activist Group has continued to insist it receive upwards of $8 million to make all litigants whole in connection with certain litigation as part of any resolution – this represents more than 50% of AIM's current market capitalization.</li>
<li>The Activist Group has indicated it would likely appoint Robert Chioini as interim CEO while the Board runs a succession process should its nominees gain control of the Board. Mr. Chioini was fired as CEO of Rockwell Medical in 2018 because of his "sustained mismanagement" of the company and "blatant disregard for shareholder concerns," according to a Rockwell Medical spokesperson.1 Following his termination, Mr. Chioini "refuse[d] to accept the decision" and, without authorization, filed a Current Report on Form 8-K on the company's behalf "making various assertions regarding the five independent directors who voted in favor of Mr. Chioini's removal."2This behavior indicates, in our view, that Mr. Chioini is unfit to serve as a public company director – let alone CEO.</li>
</ul>

AIM ImmunoTech Issues Presentation Detailing Case For Re-Electing Current Directors To Oversee Continued Momentum And Drive Strategy To Create Long-Term Value For Patients And Shareholders; Warns Shareholders Of Its Belief That The Activist Group And Its Nominees Have A Self-Interested Agenda And Could Put AIM's Clinical Progress At Risk

Comments

Beonic

News

Latest news for Beonic (OTC:SFIIF) Stock

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga