Renaissance Capital Alliance, LLC

"US-based medical device company Stryker has announced that it has completed the acquisition of soft tissue fixation company Artelon, to expand its hold over a surgical market estimated to be worth approximately $3.4bn. The acquisition comes with the aim to acquire Artelon’s portfolio of devices and expand options available to Stryker’s foot and ankle and sports medicine specialist customers. Stryker says that Artelon’s synthetic technology is designed to enhance biological and mechanical ligament and tendon reconstruction with more than 60,000 implantations worldwide. The medical device company has not disclosed the cost of the acquisition but in the hours following the announcement, the company’s stock price tumbled from $339 per share to $333 each." #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #stryker #mergersandacquisitions #medical #manufacturing https://lnkd.in/e7BJW8vW

"Google’s parent company Alphabet might be on the verge of making its biggest acquisition ever. The Wall Street Journal reports that Alphabet is in advanced talks to acquire Wiz for around $23 billion. While the deal isn’t finalized, the WSJ says it could come together soon. Wiz offers an all-in-one approach to cloud security, ingesting data from Amazon Web Services, Microsoft Azure, Google Cloud, and other cloud platforms, then scanning it all for security risk factors. Presumably, Alphabet executives see the deal as a way to fortify Google’s cloud business, which grew 28% to $9.57 billion in the first quarter of this year. Neither Google nor Wiz immediately responded to TechCrunch’s requests for comment. This report comes just two months after Wiz announced raising a $1 billion Series E at a $12 billion valuation. Founded four years ago by former Microsoft employees Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik, Wiz has raised a total of $1.9 billion." #finance #equipmentfinance #equipmentleasing #fiancialservices #corporatefinance #google #mergersandacquisitions #security https://lnkd.in/grM6HG8u

"SpaceX’s Falcon 9 rocket is the most reliable launch vehicle in history, but even the greats have an occasional miss. That’s what happened on Thursday evening, when the rocket’s second stage suffered a catastrophic error on orbit during a routine launch of a batch of Starlink internet satellites. SpaceX CEO Elon Musk later said on his platform X that the second stage’s Merlin Vacuum engine failed to reignite for the second and final time, which resulted in a 'RUD' — a rapid unscheduled disassembly, industry-speak for a catastrophic explosion. While the 20 Starlink satellites were deployed, they were deployed into the wrong orbit, and it’s unclear whether the onboard propulsion will move the satellites quickly enough to escape the pull of the Earth’s atmosphere. 'Upper stage restart to raise perigee resulted in an engine RUD for reasons currently unknown,' he said. 'Team is reviewing data tonight to understand root cause. Starlink satellites were deployed, but the perigee may be too low for them to raise orbit. Will know more in a few hours.' The Starlink 9-3 mission blasted off from California’s Vandenberg Space Force Base at 7:35 p.m. PST. Just minutes after lift-off, the livestream of the launch showed an usual amount of ice build-up on the top of the engine, with large clumps falling away into the engine’s exhaust plume. This could suggest a leak of the liquid oxygen, which together with kerosene makes up the engine propellant. The exact cause of the failure is still unknown." #finance #equipmentfinance #corporatefinance #equipmentleasing #financialservices https://lnkd.in/gYMWDju3

"The IRS says it has clawed back more than $1 billion in unpaid taxes from millionaires who were skipping payment of undisputed tax bills — that is, they were skipping them until the agency started stiffening enforcement on rich households. Tax collectors reached the money milestone less than a year after identifying 1,600 wealthy households that needed to pay tax debts worth at least $250,000 apiece, IRS and Treasury officials announced Thursday. This collection work is ongoing, and it’s one part of a tougher stance on rich taxpayers and businesses from a better-staffed IRS, they noted. The Inflation Reduction Act of 2022 earmarked billions for the IRS to improve its operations, hire more staff and go after wealthy tax cheats. Since then, the agency has been spotlighting its plans to use the money and its early results." #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #taxes #irs https://lnkd.in/eECX_Q3b

"Joby Aviation is still a year away from commercially launching its electric air taxi designed for urban environments, but the startup is already looking towards its next chapter: Intercity flight, powered by hydrogen. To get the conversation started with regulators and demonstrate hydrogen’s capabilities, Joby told TechCrunch that it completed a 523-mile test flight with a hydrogen-electric prototype aircraft – one of its eVTOLs (electric vertical takeoff and landing vehicle) that the startup fitted with a liquid hydrogen fuel cell and hydrogen-electric propulsion system. Today, Joby Aviation’s eVTOLs are being built to transport people and goods short distances within cities or from cities to airports. Powered by batteries, the aircraft have 100 miles of range. Hydrogen acts as a range-extender, opening the door to a regional use case, according to Joby. 'This is a landmark moment for aviation,' JoeBen Bevirt, CEO of Joby, told TechCrunch. 'If you want to travel long distances, or you want to stay in the air for long periods of time, hydrogen-electric is a game changer.'" #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #joby #aviation #greenhydrogen https://lnkd.in/e_vwP4Mn

"Honeywell said on Wednesday it would buy Air Products' liquefied natural-gas process technology and equipment business for $1.81 billion in cash, marking the industrial giant's fourth acquisition this year. The deal would complement Honeywell's LNG pretreatment business by adding technologies such as heat exchangers and cryogenic equipment to its portfolio amid growing demand for the fuel in key end-markets including power and data centers. The Energy Information Administration this week forecast average U.S. LNG exports would reach 12.2 billion cubic feet per day in 2024 and 14.3 bcfd in 2025, up from a record 11.9 bcfd in 2023. Air Products' cryogenic equipment and natural gas liquefaction processes are used both onshore and offshore. Its coil-wound heat exchangers, part of the business being bought by Honeywell, is used for reliable liquefaction with minimal deck space requirement. 'With the addition of Air Products LNG and expected year-end close, Honeywell is on track to deploy ~$15 billion in 2024 across M&A,' said Sheila Kahyaoglu, analyst at Jefferies." #honeywell #airproducts #mergersandacquisitions #oilandgas #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance https://lnkd.in/dKzBUcQi

"US oil company Devon Energy has announced a definitive agreement to acquire the Williston Basin business from Grayson Mill Energy in a cash and stock deal valued at $5bn. Devon intends to finance the acquisition through $3.25bn in cash and by issuing 37 million shares of common stock valued at $1.75bn. This move will bolster Devon's presence in the Williston Basin, adding 307,000 net acres with a 70% working interest. The assets being acquired are projected to maintain a production level of around 100,000 barrels of oil equivalent per day (boepd), with 55% being oil, in 2025. Devon anticipates this addition will contribute to an average of up to $50m in annual cash flow savings, driven by operational efficiencies and marketing synergies." #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #devonenergy #mergersandacquisitions #oilandgas https://lnkd.in/gFt7dD5A

"Eli Lilly agreed to buy Morphic Holding for $3.2 billion in cash, the companies said on Monday, beefing up its portfolio of inflammatory bowel disease (IBD) drugs and expanding its footprint in the multi-billion dollar market. Shares of Waltham, Massachusetts-based Morphic surged 76% to $56.15 in premarket trading on Lilly's offer of $57 per share, which represents a 79% premium to stock's last closing price. Through the deal, Lilly will procure an experimental oral IBD treatment that offers patients a more convenient dosing option compared to other injectable therapies, including its IBD drug Omvoh that was approved last year. Along with Lilly, other drugmakers such as Abbvie Inc, Pfizer and Johnson & Johnson are also jostling for a share of the bowel disease market." #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #medical #mergersandacquisitions #elililly https://lnkd.in/eHFRv6FM.

"Only five mining rigs are profitable for their operators as bitcoin {{BTC}} slumped to the $54,000 mark this week, creating a scenario that could mark a 'local bottom.' 'At a rate of $0.08/kWh, ASICs less efficient than 23 W/T operate at a loss,' mining giant F2Pool said in a graph released early Friday. A kWh or kilowatt-hour measures the energy usage of an electrical device or load. F2Pool’s graph shows four of Antminer’s various rigs and one Avalon rig that are profitable as long as prices are above $53,100. All other miners are now costing more to run than the rewards received by operators. Miners are entities that supply computing power to any blockchain network in return for 'rewards' in the form of tokens. These rewards are continually sold by miners to cover operational costs – which are fairly intensive, with some miners even filing for bankruptcy in the past few years. Miners were a major source of bitcoin selling pressure in June with over $1 billion worth of BTC sold over two weeks as prices ranged between the $65,000 and $70,000 levels, as previously reported." #finance #equipmentfinance #equipmentleasing #financialservices #corporatefinance #bitcoin #bitcoinmining #crypto https://lnkd.in/eQazfdiS

"The parent company of Saks Fifth Avenue has signed a deal to buy upscale rival Neiman Marcus Group, which owns Neiman Marcus and Bergdorf Goodman stores, for $2.65 billion, with online behemoth Amazon holding a minority stake. The new entity would be called Saks Global, which will comprise the Saks Fifth Avenue and Saks OFF 5TH brands, Neiman Marcus and Bergdorf Goodman, as well as the real estate assets of Neiman Marcus Group and HBC, a holding company that purchased Saks in 2013. HBC has secured $1.15 billion in financing from investment funds and accounts managed by affiliates of Apollo, and a $2 billion fully committed revolving asset based loan facility from Bank of America, which is the lead underwriter, Citigroup, Morgan Stanley, RBC Capital Markets, and Wells Fargo. The deal comes after months of rumors that the department store chains had been negotiating a deal. But the twist is Amazon’s minority stake, which adds 'a bit of spice' to an otherwise anticipated pact, according to Neil Saunders, managing director of GlobalData, a research firm. Salesforce, a cloud-based software powerhouse, will also become an investor at closing." #saksfifthavenue #neimanmarcus #amazon #salesforce #mergersandacquisitions #finance #equipmentfinance #equipmentleasing #corporatefinance #financialservices https://lnkd.in/e_wtgi95