In today’s briefing:
- PTB Group’s Binding Offer from PAG
- Cleanaway Waste Management Placement – Accretive Acquisition Could Outweigh Weak Momentum
- SKYX Platforms Corp: An Electrical Engineering Innovator That Could Prove To Be A Disruptor In Its Domain
- Plug Power Inc: The IRA Upside
PTB Group’s Binding Offer from PAG
- Ptb Group Ltd (PTB AU) entered a scheme implementation deed (SID) with Precision Aviation Group (PAG). The offer comprises A$1.595 + dividend up to A$0.03 per share (total of A$1.625).
- The offer price is attractive. The key conditions are shareholder approvals and FIRB approval. The scheme meeting is on 16 November.
- This is a done deal. At last close and for the 2 December payment, the gross and annualised spread to the offer + div is 3.8% and 13.5%, respectively.
Cleanaway Waste Management Placement – Accretive Acquisition Could Outweigh Weak Momentum
- Cleanaway Waste Management (CWY AU) is looking to raise US$242m (A$350m) to fund its acquisition of Global Renewables Holdings (GRL) and for funding its Blueprint 2030 initiatives.
- Cleanaway Waste Management (CWY) had recently released its update for the Blueprint 2030 initiative. Short interest on the stock has been on the rise as well.
- The deal is relatively large at 21.3 days of three month ADV, representing 6.3% of current mcap.
SKYX Platforms Corp: An Electrical Engineering Innovator That Could Prove To Be A Disruptor In Its Domain
- This research note is our first on SKYX Platforms, formerly known as Sky Technologies.
- The company is a distinguished player within the field of electrical engineering and caters mainly to the residential market.
- Most modern-day smart homes today rely on a large number of IoT (Internet of Things) gadgets coming from different companies and target high-income populations.
Plug Power Inc: The IRA Upside
- Plug Power had a disappointing quarter in terms of its financial results but the shareholders of the company are rejoicing.
- After President Joe Biden signed the Inflation Reduction Act (IRA) which includes clean energy tax credits, the company’s stock price has zoomed.
- The newly enacted bill would establish a clean hydrogen production tax credit, or PTC, to encourage clean hydrogen production and benefit Plug Power.
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