logo
Nigerian First HoldCo to Sell Stake Held by Special Purpose Firm

Nigerian First HoldCo to Sell Stake Held by Special Purpose Firm

Bloomberg04-08-2025
Nigerian lender First HoldCo Plc will sell shares in it held by a special purpose vehicle, the managing director said.
'We will be disposing those shares and there are a range of options available to us,' Wale Oyedeji told an investor conference call in Lagos. 'Ultimately you will see that those shares will be disposed in the market,' he said without giving a timeline for the disposal.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Local Bounti (LOCL) Raises $10M and Cuts Debt with Convertible Note
Local Bounti (LOCL) Raises $10M and Cuts Debt with Convertible Note

Yahoo

timea minute ago

  • Yahoo

Local Bounti (LOCL) Raises $10M and Cuts Debt with Convertible Note

Local Bounti Corporation (NYSE:LOCL) is one of the best NYSE penny stocks to invest in now. On August 4, the company announced that it had secured an additional $10 million in financing through the issuance of a convertible note with an existing investor. The note has a five-year maturity and an annual interest rate of 6.0%, payable in kind, meaning interest will be paid with additional securities rather than cash. Alongside this financing, Local Bounti amended its existing credit facility to reduce the principal balance by $10 million, effectively lowering its debt. As part of the transaction, the company will issue a warrant to the investor, which entitles the investor to purchase up to 550,000 shares of common stock at an exercise price of $0.125 per share. The terms of the company's senior debt facility remain consistent with those of previous restructuring agreements as of March 31, 2025. CEO Kathleen Valiasek highlighted that the new capital and debt reduction strengthen the company's balance sheet, positioning it for continued operational strength and growth. Local Bounti Corporation (NYSE:LOCL) is a U.S.-based controlled environment agriculture (CEA) company. It designs and operates indoor vertical farms to grow leafy greens and herbs. It leverages proprietary Stack & Flow technology to optimize crop yield, energy efficiency, and space utilization across its facilities in Montana, Georgia, and California. While we acknowledge the potential of LOCL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 11 Best Low-Priced Stocks to Buy Right Now and 11 Best Canadian Gold Stocks to Buy According to Hedge Funds. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio

Summit Therapeutics (SMMT) Nosedives 9% on Dismal Earnings, Absence of Investor Call
Summit Therapeutics (SMMT) Nosedives 9% on Dismal Earnings, Absence of Investor Call

Yahoo

time3 hours ago

  • Yahoo

Summit Therapeutics (SMMT) Nosedives 9% on Dismal Earnings, Absence of Investor Call

We recently published Summit Therapeutics Inc. (NASDAQ:SMMT) is one of the worst-performing stocks on Tuesday. Summit Therapeutics tumbled by 9.08 percent on Tuesday to close at $25.68 apiece as investor sentiment was dampened by a dismal earnings performance as well as the absence of an investor call to elaborate on the results. Summit Therapeutics Inc. (NASDAQ:SMMT), which usually reports its quarterly earnings alongside an investor call, decided go without the latter on Monday. In the second quarter of the year, Summit Therapeutics Inc. (NASDAQ:SMMT) widened its net loss by 836 percent to $565.7 million from $60.4 million in the same period last year, as total operating expenses soared by 853 percent to $568.4 million from $59.6 million year-on-year. Net loss in the first half also expanded by 505 percent to $628.6 million from $103.9 million year-on-year, as total operating expenses jumped 522 percent to $635.3 million from $102 million. Copyright: nicoletaionescu / 123RF Stock Photo Summit Therapeutics Inc. (NASDAQ:SMMT) also skipped to comment on its financial and operating results. While we acknowledge the potential of SMMT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Sign in to access your portfolio

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store