TheChek News Flow

>>> US Gapping up

Gapping up

Other news:

RYZB +97.1% (to be acquired by Bristol-Myers (BMY) for $62.50/share
GRCL +58.0% (to be acquired by AstraZeneca (AZN), furthering cell therapy ambition across oncology and autoimmune diseases for $10.00/ADS)
SSYS +10.5% (Nano Dimension (NNDM) announces preliminary all cash proposal to acquire Stratasys (SSYS) for $16.50/share)
HOLI +5.8% (Buyer consortium led by Dazheng Group announces enhanced all-cash proposal of $29.00/share to acquire HOLI)
MANU +4.7% (reaches agreement for Sir Jim Ratcliffe, Chairman of INEOS, to acquire up to a 25% shareholding in the company)
NIO +3.0% (confirms in filing that it launched the ET9, a smart electric executive flagship)
NTES +2.7% (China aiming to soften stance on gaming, according to Bloomberg)
LIAN +2.4% (enters into agreement assigning its rights for NBTXR3 in China and other Asian markets)
ANSS +2.0% ( Synopsys (SNPS) has submitted an offer to acquire ANSS, citing people familiar; offers received value ANSS at well over $400/sh, according to Reuters)
INTC +1.9% (Israel grants INTC $3.2 bln for new $25 bln chip plant, according to Reuters)
GMRE +1.2% (files mixed securities shelf offering)
SNPS +1.2% (has submitted an offer to acquire ANSS, citing people familiar; offers received value ANSS at well over $400/sh, according to Reuters)

Analyst comments:

TYRA +2.5% (reiterated with Buy rating at H.C. Wainwright)

>>> Stratasys: Nano Dimension (NNDM) announces preliminary all cash proposal to

Stratasys: Nano Dimension (NNDM) announces preliminary all cash proposal to acquire Stratasys (SSYS) for $16.50/share (13.11)

NNDM announced that it has submitted a preliminary all cash proposal to the Board of Directors of SSYS to purchase all the outstanding shares of Stratasys that it does not currently own for $16.50 per share in cash, with an ability to increase its price subject to due diligence. This proposal represents a 40% premium from the volume-weighted average Stratasys share price since September 28, 2023, the day that Stratasys announced that its Board of Directors initiated a process to explore strategic alternatives for the Company, including a potential sale.
Notwithstanding the public announcement from Stratasys that it intended to launch a comprehensive strategic review, Nano Dimension's standing as the largest single shareholder of Stratasys, Nano Dimension's current liquidity profile including over $800 million of net cash, and Nano Dimension's publicly announced prior attempts to acquire Stratasys, Nano Dimension has not been approached by Stratasys or its representatives during Stratasys' strategic alternatives assessment. To this end, a public press release announcing Nano Dimension's intent is believed to be required.
Following the proactive submission of its proposal to acquire Stratasys, Nano Dimension is willing to immediately enter customary transaction-related documentation required to complete confirmatory due diligence and seeks to do so in the immediate future. Given Nano Dimension's deep understanding of Stratasys and the AM industry, only a short due diligence period is expected to be required by the Board of Nano Dimension.In addition to financing the proposal with available cash on hand, Nano Dimension has entered discussions with financing sources to support any transaction, should such support be needed, and there is no financing contingency to the proposal. The proposal is subject to the completion of a satisfactory confirmatory due diligence process and the negotiation and execution of a mutually satisfactory definitive acquisition agreement. There is no guarantee that an acquisition will be completed.

>>> NIO confirms in filing that it launched the ET9, a smart electric executive

NIO confirms in filing that it launched the ET9, a smart electric executive flagship (8.42)

At NIO Day 2023, NIO launched the ET9, a smart electric executive flagship. Smart EVs have reached the pinnacle of technological innovation. NIO remains committed to strategically investing in and developing the full-stack core technologies of smart EVs. The ET9 integrates NIO's latest advancements in technological research and development, showcasing a perfect package of flagship-style exterior, innovative executive space, leading driving and riding experience, intelligent technology, efficient power solutions, and comprehensive safety standards. Tailored for the new generation of high-end business users, the ET9 is a sophisticated, comfortable, and safe smart electric executive flagship.
The ET9 reshapes the presence of the executive flagship in the era of smart EV. With a length of 5,325mm, a width of 2,016mm, a height of 1,620mm, and a wheelbase of 3,250mm, the ET9 boasts a commanding presence. Adopting the Landjet design, it satisfies users with cabin space, comfort, safety, and steering.

>>> RayzeBio to be acquired by Bristol-Myers (BMY) for $62.50/share (shares halt

RayzeBio to be acquired by Bristol-Myers (BMY) for $62.50/share (shares halted) (30.57)

Cos announced a definitive merger agreement under which Bristol Myers Squibb (BMY) will acquire RayzeBio (RYZB) for $62.50 per share in cash, for a total equity value of approximately $4.1 billion, or $3.6 billion net of estimated cash acquired. The transaction was unanimously approved by both the Bristol Myers Squibb and RayzeBio Boards of Directors.
Under the terms of the merger agreement, Bristol Myers Squibb will promptly commence a tender offer to acquire all of the outstanding shares of RayzeBio common stock at a price of $62.50 per share in an all-cash transaction for a total equity value of approximately $4.1 billion, or $3.6 billion net of estimated cash acquired. RayzeBio's Board of Directors unanimously recommends that RayzeBio's shareholders tender their shares in the tender offer.
The transaction is expected to be treated as a business combination and to be dilutive to Bristol Myers Squibb's non-GAAP diluted earnings per share by approximately $0.13 in 2024. Bristol Myers Squibb expects to finance the acquisition with primarily new debt issuance. Bristol Myers Squibb's cash flows and strong financial profile enable continued commitment to strong investment-grade credit ratings and investment for growth through business development opportunities and distributions to shareholders through ongoing dividends and share repurchases.
The transaction is expected to close in the first half of 2024, subject to customary closing conditions, including the tender of a majority of the outstanding shares of RayzeBio's common stock and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Following the successful closing of the tender offer, Bristol Myers Squibb will acquire all remaining shares of RayzeBio that are not tendered into the tender offer through a second-step merger at the same price of $62.50 per share.
RayzeBio's portfolio includes: Lead program RYZ101 (225Ac-DOTATATE), targeting somatostatin receptor 2 (SSTR2), which is over-expressed in GEP-NETs and extensive stage small cell lung cancer (ES-SCLC). A Phase 3 clinical trial is currently enrolling patients to evaluate RYZ101 in patients with SSTR-positive GEP-NETs who have previously been treated with lutetium-177 based somatostatin therapies. RayzeBio previously reported the interim results of the Phase 1b portion of the ACTION-1 clinical trial, suggesting encouraging efficacy and tolerability. A Phase 1b clinical trial is also currently enrolling patients to evaluate RYZ101 as a first-line treatment of ES-SCLC in combination with standard-of-care therapy.