Evergrande's major shareholder Chinese Estates plans to go private

Oct 6 (Reuters) – Chinese Estates Holdings, a major shareholder of embattled developer China Evergrande , said on Wednesday it has proposed to be taken private by Solar Bright Ltd for HK$1.91 billion ($245.30 million).

Bit Digital Uptick Continues, Shares Up 12%

Shares of cryptocurrency miner Bit Digital Inc. (BTBT) are currently up 12% on Wednesday morning after surging about 35% the previous day.

BTBT is currently trading at $11.25, up $0.90 or 8.70%, on the Nasdaq. The stock has traded between $3.40 and $33.00 in the 52 week period. Bit Digital has gained over 42% in the past 5 days.

The company on Tuesday announced that it closed a previously announced private placement of 13.5 million ordinary shares. The company also issued to the investors unregistered warrants to purchase up to an aggregate of 10.1 million ordinary shares. The purchase price for one ordinary share and one warrant to purchase three-fourths of an ordinary share is $5.93.

The proceeds from the private placement were approximately $80 million before deducting placement agent fees and other estimated offering expenses.

PageGroup Q3 Gross Profit Up 65.4% – Quick Facts

PageGroup plc (MPGPF.PK,PAGE.L) said the improvement in results recorded in second quarter continued into third quarter, with the Group reporting growth of 65.4% from a year ago, and up 12.9% from 2019. In the UK, gross profit grew 1.3% from 2019. PageGroup noted that the improvement and record performance in third quarter was seen throughout the Group.

Third quarter group gross profit was 228.1 million pounds, up 65.4% from last year. Net cash at 30 September 2021 was in the region of 195 million pounds.

PageGroup now expects full year operating profit to be in the region of 155 million pounds.

Ares-Managed Funds To Acquire Majority Stake In Apex – Quick Facts

The funds and other accounts managed by Ares’ Infrastructure and Power strategy have agreed to acquire a majority stake in Apex Clean Energy. The deal will provide Apex with additional equity growth capital as it seeks to transition to a pure-play renewable energy independent power producer. Apex’s current management team will continue to lead the company.

Goodwin, CEO of Apex Clean Energy, said: “The energy transition has never been more urgent. The infusion of growth capital provided by this agreement will allow the company to strengthen its leadership position in U.S. utility-scale clean energy development, operate projects as an IPP, and accelerate strategic expansion into energy storage, distributed energy resources, and green fuels.”

Gogo Stock Slips 10% After Morgan Stanley Downgrades

Shares of Gogo Inc. (GOGO) are slipping about 10% on Wednesday morning after Morgan Stanley dropped its rating on Gogo to Underweight from Equal-weight.

GOGO is currently trading at $15.46, down $1.69 or 9.85%, on the Nasdaq. The stock has traded between $8.02 and $19.23 in the 52 week period.

Meanwhile, Gogo Business Aviation also on Tuesday unveiled SmartShield, a new premium membership program that allows its customers with an AVANCE or a classic ATG system take advantage of exclusive protections and benefits for their Gogo inflight connectivity system.

Help Us Recommend Children’s Books

Readers, we need your help.

The Education Briefing newsletter is compiling a list of great children’s books for readers of all ages. Mostly, it’s meant as a resource. But one of these stories might help a struggling reader power through a difficult sentence to find out what happens next.

Tell us about a children’s book you love, please, and why. Who would be its ideal reader? (Is this a great book for tweens with divorced parents? Kids under 7? Kids encountering racism? Kids who love adventure tales?) We may feature your response in an upcoming issue of the Education Briefing.

Recommend a children’s book!

4D Molecular Plans Initiation Of Phase 1/2 Trials With 4D-150 In Wet AMD, 4D-710 In Cystic Fibrosis

4D Molecular Therapeutics (FDMT) said the FDA has cleared the Investigational New Drug Application for 4D-150 for wet age-related macular degeneration. This enables the initiation of 4D-150 phase 1/2 clinical trial sites, which is expected before year-end.

Separately, the company announced the FDA has cleared the Investigational New Drug Application for 4D-710 for the treatment of patients with cystic fibrosis. This enables the initiation of 4D-710 phase 1/2 clinical study sites, which is expected before year-end. As a result of the IND clearance for 4D-710, CF Foundation will purchase 125,715 shares of the company’s common stock, for aggregate proceeds of approximately $4 million.

The company is currently advancing five product candidates in clinical development: 4D-310 for Fabry disease, 4D-125 for XLRP, 4D-150 for wet AMD, 4D-710 for cystic fibrosis and 4D-110 for choroideremia.

TeamViewer AG Cuts Full Year Outlook On Billings’ Shortfall – Quick Facts

TeamViewer AG (TMVWF.PK,TMVWY.PK) said its third-quarter year-on-year growth in billings were below its own projections. Due to the billings’ shortfall and the cost ramp up, adjusted EBITDA margin was around 34% for the third quarter and approximately 48% for the nine months of 2021. Looking forward, the company said, following the revision of billings growth, it also adjusted adjusted EBITDA margin guidance for the current business year.

Third quarter billings were around 126 million euros, up around 18% reported and 18% at constant currencies. IFRS revenues were around 128 million euros.

TeamViewer adjusted its outlook for the full year and now expects billings of between 535 million euros to 555 million euros (previously: lower end of range of 585 million euros to 605 million euros). The guidance for revenues was lowered to a range of 495 million euros to 505 million euros (prior guidance: lower end of range of 525 million euros to 540 million euros). Adjusted EBITDA margin is now expected to be at 44% to 46% (prior outlook: 49% to 51%).