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News

Bucking the Trend: 3 Stocks That Zoomed While the Market CrashedIt is starting to look like last week’s market meltdown was not the beginning of a broad-based collapse. Although fear of a U.S. recession, concern over the melt-up in AI-powered tech stocks and the unwinding of the yen carry trade all contributed to the market turmoil, stocks quickly rebounded and ...
It is starting to look like last week’s market meltdown was not the beginning of a broad-based collapse. Although fear of a U.S. recession, concern over the melt-up in AI-powered tech stocks and the unwinding of the yen carry trade all contributed to the market turmoil, stocks quickly rebounded and the S&P 500 closed out the week largely unchanged. Still, volatile, wild market swings often signal a market top. Yet not every stock quaked when the market fell. Some companies showed remarkable resilience. Several outperforming stocks not only rose by double-digit rates when the market buckled but have gone on to post triple-digit gains. The following three companies were the best outperforming stocks on the market over the past week. Let’s see whether they are worth buying now that the dust has settled a bit. Having zoomed when the market zagged, investors will want to know if they still have any gas left in the tank. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Latham Group (SWIM) Yellow pool float, ring floating in a refreshing blue swimming pool Source: Shutterstock Swimming pool company Latham Group (NASDAQ:SWIM) initially dove alongside the rest of the market. SWIM stock tanked 10% early in the week before the company posted second-quarter results showing better-than-expected profits. The stock subsequently rallied to a 64% gain over the past week. The largest in-ground swimming pool company reported a 10% drop in sales to $160 million but was able to improve profitability due to “improved cost structure and the impact of production efficiencies.” Talk of interest rate cuts could also benefit the bottom line and make pool installations easier to sell. Latham also acquired automatic safety coverings maker Coverstar Central. Coverings have been declining for Latham with sales down 11% in the quarter. Still, Wall Street expects sales to fall 8% for the full year to $520 million before rebounding in 2025. Analysts forecast a 7% increase in sales to $555 million. Profits are expected to plunge to 3 cents per share from 21 cents before bouncing higher to 11 cents per share the following year. With a $4.53 per share price target, Latham Group already shot through analyst expectations last week. Trading at around $5.50 per share, there is now significant downside potential. Lumen Technologies (LUMN) In this photo illustration, the Lumen Technologies logo is seen displayed on a smartphone. LUMN stock Source: rafapress / Shutterstock.com Broadband and fiber optics network provider Lumen Technologies (NYSE:LUMN) also had earnings to thank for its stock lighting up the market last week. The stock rocketed 150% higher before giving up more than a third of the gains. But if the AI trade was part of what caused the market meltdown in the first place, it was what helped drive LUMN stock to new heights. Story continues Having struggled with significant debt for years, Lumen Technologies seems to have a new purpose with artificial intelligence. It is providing a tailwind to its business due to the outside need for high-bandwidth infrastructure to support AI’s growth. Lumen reported it has signed over $5 billion worth of partnership deals with major tech stocks related to AI. It sees the potential for over $7 billion with additional opportunities. It has partnered with Microsoft (NASDAQ:MSFT) to modernize its technology and save over $20 million in the next year. Lumen also secured from Corning (NYSE:GLW) 10% of the fiber optic cable maker’s capacity for each of the next two years, which will double Lumen’s fiber miles. Even after the run-up in Lumen stock, shares still go for a tiny fraction of shares. It also shot past analyst price targets this week. Yet when they update their outlook, new targets could come closer to the high-side $7 per share estimate, a 40% gain from current levels. TenX Keane Acquisition (TENK) Image of two business people shaking hands. Tech Stocks Source: Shutterstock Last week’s biggest gainer was TenX Keane Acquisition (NASDAQ:TENK), a special purpose acquisition company (SPAC). It’s been a while since a SPAC has enjoyed such attention as TENK stock shot 275% higher. On Aug. 2, shareholders approved TenX’s previously announced merger with Citius Pharmaceuticals (NASDAQ:CTXR). The deal is expected to close within the next few weeks, and the combined company will be renamed Citius Oncology with the ticker symbol CTOR. Yet investors wanting to cash in on TenX Keane’s merger will have trouble doing so. The Nasdaq exchange halted trading on the stock as volume in its shares soared. According to TenX, the Nasdaq is looking for “additional information” (without saying about what), but apparently, the issue has not yet been resolved as shares are still not trading. Citius stock, however, is down 26% over the past week. Still, Citius just received approval from the Food & Drug Administration for its Lymphir therapy for treating relapsed or refractory cutaneous T-cell lymphoma (CTCL). It is a $300 million to $400 million market opportunity. Now that TenX and Citius have completed their merger, there may be substantial gains to make. The two analysts covering the stock have a price target of $4 per share. As it currently trades for about 70 cents per share, this implies a 470% upside. On the date of publication, Rich Duprey did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article. Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L’Express, and numerous other news outlets. More From InvestorPlace Legendary Investor Predicts: “Forget AI... THIS Technology Is the Future” The post Bucking the Trend: 3 Stocks That Zoomed While the Market Crashed appeared first on InvestorPlace. View comments
CTXR GLW LUMN MSFT SWIM TENK | finance.yahoo | about 8 months ago | Neutral

Citius Pharmaceuticals Executes Definitive Agreement to Merge Wholly Owned Subsidiary with TenX Keane Acquisition to Form Publicly Listed Citius Oncology, Inc.Citius Pharmaceuticals, Inc. to receive $675 million in equity of Citius Oncology, Inc. and retain approximately 90% majority control in publicly listed Citius Oncology, Inc. post transaction Transaction anticipated to close in the first half of 2024 CRANFORD, N.J. and NEW YORK, N.Y., Oct. 24, 20...
Citius Pharmaceuticals, Inc. to receive $675 million in equity of Citius Oncology, Inc. and retain approximately 90% majority control in publicly listed Citius Oncology, Inc. post transaction Transaction anticipated to close in the first half of 2024 CRANFORD, N.J. and NEW YORK, N.Y., Oct. 24, 2023 (GLOBE NEWSWIRE) -- Citius Pharmaceuticals, Inc. (“Citius Pharma” or the “Company”) (Nasdaq: CTXR), a biopharmaceutical company developing and commercializing first-in-class critical care products, and TenX Keane Acquisition (“TenX”) (NASDAQ: TENKU), a publicly traded special purpose acquisition company (SPAC), today announced that they have entered into a definitive agreement, dated October 23, 2023, for a proposed merger of TenX and Citius Pharma’s wholly owned oncology subsidiary that will continue as a public company listed on the Nasdaq exchange. The newly combined public company will be named Citius Oncology, Inc. (“Citius Oncology”). Upon closing, pursuant to the terms of the merger agreement, Citius Pharma would receive 67.5 million shares in Citius Oncology at $10 per share and retain majority ownership of approximately 90%. The transaction has been approved by the Board of Directors of both companies and is expected to close in the first half of 2024. CITIUS ONCOLOGY OVERVIEW Citius Oncology will serve as a platform to develop and commercialize novel targeted oncology therapies. The company is seeking approval from the U.S. Food and Drug Administration (FDA) of LYMPHIR for an orphan indication in the treatment of persistent or recurrent cutaneous T-cell lymphoma (CTCL), a rare form of non-Hodgkin lymphoma. Management estimates the initial market for LYMPHIR currently exceeds $400 million, is growing and is underserved by existing therapies. If approved, LYMPHIR would be unique as the only IL-2 receptor targeted CTCL therapy, offering a novel option to patients cycling through multiple treatments. Robust intellectual property protections that span orphan drug designation, complex technology, trade secrets and pending patents for immuno-oncology use as a combination therapy with checkpoint inhibitors would further support Citius Oncology’s competitive positioning. Preparations are underway for a Biologics License Application (BLA) resubmission in early 2024. If approved, LYMPHIR could be commercially available as early as the second half of 2024 for the treatment of CTCL. Additional value creating opportunities in larger markets include potential indications in peripheral T-cell lymphoma or as a combination therapy with CAR-T and PD-1 inhibitors, and in markets outside the U.S. Currently, two investigator-initiated trials are underway to explore LYMPHIR’s potential as an immuno-oncology combination therapy. The transaction is expected to provide Citius Oncology with improved access to the public equity markets and thereby facilitate the commercialization of LYMPHIR and position the company to explore additional value creating opportunities more fully. CITIUS PHARMA AND TENX COMMENTS “We believe this transaction will allow us to unlock the value of LYMPHIR, and solidly position Citius Pharma to advance our diversified pipeline. This transaction will enable Citius Oncology, with access to the broader capital markets, to better support the successful commercialization of LYMPHIR, if approved, and explore additional potential targeted oncology therapies. Our majority ownership position and shared services agreement ensures that the Citius Pharma management team will remain fully engaged with the development and commercialization efforts at Citius Oncology. As previously announced, the Company is in the process of formulating a plan of distribution of a portion of the shares of Citius Oncology to its shareholders. At Citius Pharma, we intend to focus on completing the Mino-Lok trial and continuing to evaluate next steps with our Halo-Lido program,” stated Leonard Mazur, Chairman and CEO of Citius Pharma. “We are very pleased to announce the proposed merger with Citius Oncology,” said Mr. Xiaofeng Yuan, Chairman and CEO of TenX. “After undertaking a comprehensive process with external advisors to explore and evaluate numerous potential business combination targets, our board and management team believe that this transaction with Citius Oncology represents the best opportunity to create substantial value for our stockholders. This business combination, if consummated, will result in TenX investors owning an equity stake in a company that is focused on developing and commercializing LYMPHIR to improve the lives of patients with CTCL and additional potential upside from combinations with other drugs as immuno-oncology therapies with even larger addressable markets. We are thrilled to support Citius Oncology at an inflection point in its development and to provide an avenue for Citius to expeditiously meet its development milestones.” THE PROPOSED MERGER AGREEMENT Pursuant to the proposed agreement, TenX will acquire Citius Pharma’s wholly owned subsidiary via a merger, with the newly combined publicly traded company to be named Citius Oncology, Inc. In the transaction, all shares of Citius Pharma’s wholly owned subsidiary would be converted into the right to receive common stock of Citius Oncology. As a result, upon closing, Citius Pharma would receive 67.5 million shares of common stock of Citius Oncology which, at an implied value of $10.00 per share, would be $675 million in equity of Citius Oncology, before fees and expenses. As part of the transaction, Citius Pharma will contribute $10 million in cash to Citius Oncology. An additional 12.75 million existing options will be assumed by Citius Oncology. At closing, any cash remaining in TenX’s trust account along with the cash provided by Citius Pharma will be contributed to Citius Oncology to support ongoing operations and planned commercialization efforts. References to available cash from the TenX trust account and retained transaction proceeds are subject to any redemptions by the public stockholders of TenX and payment of transaction fees and expenses. Upon closing, Citius Oncology will operate under a shared services agreement with Citius Pharma, with fees payable quarterly to Citius Pharma, for the services of several key members of the Citius Pharma team, led by Leonard Mazur, Chief Executive Officer, Jaime Bartushak, Chief Financial Officer and Dr. Myron Czuczman, Chief Medical Officer. Myron Holubiak will serve as Executive Vice Chairman of the Citius Oncology Board of Directors. The transaction, which has been unanimously approved by both Boards of Directors of Citius Pharma and TenX, is subject to approval by stockholders of TenX and other customary closing conditions. Citius Pharma, as the sole holder of Citius Oncology common stock, has approved the transaction. The proposed business combination is expected to be completed in the first half of 2024. A more detailed description of the transaction terms and a copy of the business combination agreement will be included in a Current Report on Form 8-K to be filed by each of Citius Pharma and TenX with the United States Securities and Exchange Commission ("SEC"). In connection with the transaction, TenX intends to file a registration statement (which will contain a proxy statement/prospectus) with the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. CITIUS PHARMA AND TENX STOCKHOLDERS AND OTHER INTERESTED PERSONS ARE ADVISED TO READ, ONCE AVAILABLE, THE REGISTRATION STATEMENT AND THE PRELIMINARY PROXY STATEMENT/PROSPECTUS AND ANY AMENDMENTS THERETO AND, ONCE AVAILABLE, THE DEFINITIVE PROXY STATEMENT/PROSPECTUS IN CONNECTION WITH THE BUSINESS COMBINATION, BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT CITIUS PHARMA, TENX, CITIUS ONCOLOGY AND THE PROPOSED MERGER. ADVISORS Maxim Group LLC is acting as exclusive financial advisor to Citius Pharma and Newbridge Securities Corporation is acting as exclusive financial advisor to TenX. Wyrick Robbins Yates & Ponton LLP is acting as legal advisor to Citius Pharma. The Crone Law Group P.C. is acting as legal advisor to TenX. IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND WHERE TO FIND IT In connection with the proposed business combination, TenX intends to file a registration statement on Form S-4 that will include a proxy statement of TenX and a prospectus of Citius Oncology. The proxy statement/prospectus will be sent to all TenX stockholders. Before making any voting decision, securities holders of TenX are urged to read the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed business combination as they become available because they will contain important information about the proposed business combination and the parties to the proposed business combination. Investors and securities holders will be able to obtain free copies of the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by TenX and Citius Pharma through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by Citius Pharma may be obtained free of charge from Citius Pharma’s website at www.citiuspharma.com, or by written request to Citius Pharmaceuticals, Inc., 11 Commerce Drive, 1st Floor, Cranford, New Jersey 07016, Attention Chief Financial Officer. The documents filed by TenX may be obtained free of charge by written request to TenX Keane Acquisition, 420 Lexington Avenue, Suite 2446, New York, New York 10170. PARTICIPANTS IN THE SOLICITATION Citius Pharma and Tenx and certain of their respective directors, executive officers, and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from TenX’s shareholders in connection with the proposed transaction. Information regarding Citius Pharma’s directors and executive officers is available in its definitive proxy statement on Schedule 14A for the 2023 annual meeting of stockholders, which was filed with the SEC on December 22, 2022. Information about TenX’s directors and executive officers and their ownership of TenX’s securities is set forth in TenX’s filings with the SEC, including TenX’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which was filed with the SEC on April 17, 2023. To the extent that holdings of TenX’s securities have changed since the amounts printed in TenX’s Annual Report, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement/prospectus when it becomes available. Shareholders, potential investors, and other interested persons in respect of Citius Pharma and TenX should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above. About Citius Oncology, Inc. Citius Oncology is a late-stage pharmaceutical company focused on developing and commercializing targeted oncology therapies. Its strategy centers on achieving a market leading position by advancing innovative therapies with reduced development and clinical risks, and leveraging competitive advantages supported by intellectual property and regulatory exclusivity protection. This includes new formulations of previously approved drugs with substantial existing safety and efficacy data or expanded indications for approved therapies. Citius Oncology’s lead product candidate is LYMPHIR, an engineered IL-2 diphtheria toxin fusion protein, for the treatment of patients with persistent or recurrent CTCL, a rare form of non-Hodgkin lymphoma. Management believes the market for LYMPHIR for CTCL, estimated to exceed $400 million, is attractive, growing and underserved by existing treatments. On July 28, 2023, the FDA issued a complete response letter (CRL) in response to the LYMPHIR BLA. The FDA is requiring enhanced product testing and additional controls agreed to with the FDA during the market application review. There were no concerns relating to the safety and efficacy of the clinical data package submitted with the BLA, or the proposed prescribing information. In September 2023, Citius Pharma announced that the FDA has agreed with the plans to address the requirements outlined in the CRL. This guidance has clarified the path forward in completing the necessary activities to support the resubmission of the BLA for LYMPHIR. The BLA resubmission is anticipated in early 2024. Citius Oncology was founded in August 2021 as Citius Acquisition Corp., a Delaware corporation and wholly owned subsidiary of Citius Pharma and began operations in April 2022. The corporate name was changed to Citius Oncology, Inc. in May 2023. About Citius Pharmaceuticals, Inc. Citius Pharma is a late-stage biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products, with a focus on oncology, anti-infectives in adjunct cancer care, unique prescription products, and stem cell therapies. The Company's diversified pipeline includes two late-stage product candidates. Mino-Lok®, an antibiotic lock solution for the treatment of patients with catheter-related bloodstream infections, is enrolling patients in a Phase 3 Pivotal superiority trial and was granted Fast Track designation by the FDA. Citius Pharma is preparing to resubmit the Biologics License Application for LYMPHIR, a novel IL-2R immunotherapy for an initial indication in CTCL, in early 2024. LYMPHIR received orphan drug designation by the FDA for the treatment of CTCL and PTCL. At the end of March 2023, Citius Pharma completed enrollment in its Phase 2b trial of CITI-002 (Halo-Lido), a topical formulation for the relief of hemorrhoids. For more information, please visit www.citiuspharma.com. About TenX Keane Acquisition TenX Keane Acquisition is a blank check company, also commonly referred to as a special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. TenX is led by Xiaofeng Yuan, Chairman and Chief Executive Officer, and Taylor Zhang, Chief Financial Officer, who are growth-oriented executives with a long track record of value creation across industries. Forward-Looking Statements This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the benefits of the transaction, the anticipated timing of the transaction, the products offered by Citius Pharma and Citius Oncology and the markets in which each operates, and Citius Pharma and Citius Oncology’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, but not limited to: Such statements are made based on our expectations and beliefs concerning future events impacting Citius Pharma. You can identify these statements by the fact that they use words such as "believe," "anticipate," "estimate," "expect," "plan," “would,” "should," and "may" and other words and terms of similar meaning or use of future dates. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of Citius Pharma’s common stock; the risk that the transaction may not be completed by TenX’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by TenX; the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the business combination agreement by the stockholders of TenX; the satisfaction of the minimum trust account amount following redemptions by TenX’s public stockholders; the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement; the effect of the announcement or pendency of the transaction on Citius Pharma’s business relationships, performance, and business generally; risks that the proposed business combination disrupts current plans or operations of Citius Pharma; the outcome of any legal proceedings that may be instituted against Citius Pharma or TenX related to the business combination agreement or the proposed business combination; the ability to maintain the listing of TenX’s securities (which would be Citius Oncology securities) on Nasdaq after the closing of the transaction; after the closing of the transaction, the price of Citius Oncology’s securities may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which Citius Oncology will operate, variations in performance across competitors, changes in laws and regulations affecting Citius Oncology’s business and changes in its capital structure; the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities provided by the business combination; the cost and timing of the resubmission of the BLA for LYMPHIR; the FDA may not approve our BLA for LYMPHIR; our need for substantial additional funds; the estimated markets for our product candidates and the acceptance thereof by any market; our ability to commercialize our products if approved by the FDA; our dependence on third-party suppliers; the ability of our product candidates to impact the quality of life of our target patient populations; our ability to successfully undertake and complete clinical and non-clinical trials and the results from those trials for our product candidates; risks relating to the results of research and development activities, including those from existing and new pipeline assets; uncertainties relating to preclinical and clinical testing; the early stage of products under development; market and other conditions; our ability to attract, integrate, and retain key personnel; risks related to our growth strategy; patent and intellectual property matters; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our ability to identify, acquire, close and integrate product candidates and companies successfully and on a timely basis; our ability to procure cGMP commercial-scale supply; government regulation; competition; as well as other risks described in our SEC filings. These risks have been and may be further impacted by Covid-19 and global geopolitical events, such as the war in Ukraine and the Middle East. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements. Risks regarding our business are described in detail in our Securities and Exchange Commission (“SEC”) filings which are available on the SEC’s website at www.sec.gov, including in our Annual Report on Form 10-K for the year ended September 30, 2022, filed with the SEC on December 22, 2022 and updated by our subsequent filings with the SEC. These forward-looking statements speak only as of the date hereof, and we expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law. Citius Pharmaceuticals Investor Contact: Ilanit Allen ir@citiuspharma.com Citius Pharmaceuticals Media Contact: STiR-communications Greg Salsburg Greg@STiR-communications.com TenX Contact Taylor Zhang target@TenXkeane.com
CTXR TENK TENKR TENKU | globenewswire | about 2 years ago | Neutral

TenX Keane Acquisition Announces Extension of the Deadline for an Initial Business CombinationNew York, NY, Oct. 18, 2023 (GLOBE NEWSWIRE) -- TenX Keane Acquisition (the “Company”) (NASDAQ: TENKU) today announced that, in order to extend the date by which the Company must complete its initial business combination from October 18, 2023 to January 18, 2024, the Company has deposited into its...
New York, NY, Oct. 18, 2023 (GLOBE NEWSWIRE) -- TenX Keane Acquisition (the “Company”) (NASDAQ: TENKU) today announced that, in order to extend the date by which the Company must complete its initial business combination from October 18, 2023 to January 18, 2024, the Company has deposited into its trust account (the “Trust Account”) an aggregate of $660,000 (the “Extension Fee”), representing $0.10 per public share of the Company. The payment for such Extension Fee was made by 10XYZ Holdings LP, the sponsor of the Company (the “Sponsor”), which was evidenced by an unsecured promissory note issued by the Company to the Sponsor. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About TenX Keane Acquisition TenX Keane Acquisition is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Forward-Looking Statements This press release contains statements that constitute “forward-looking statements,” including with respect to the separation and trading of the Company’s securities and search for an initial business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of TenX Keane Acquisition, including those set forth in the Risk Factors section of TenX Keane Acquisition’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. TenX Keane Acquisition undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Contact Information: Taylor Zhang Chief Financial Officer Email: target@tenxkeane.com Tel: (347) 627-0058
TENK TENKR TENKU | globenewswire | about 2 years ago | Neutral

TenX Keane Acquisition Announces Extension of the Deadline for an Initial Business CombinationNew York, NY, July 18, 2023 (GLOBE NEWSWIRE) -- TenX Keane Acquisition (the “Company”) (NASDAQ: TENKU) today announced that, in order to extend the date by which the Company must complete its initial business combination from July 18, 2023 to October 18, 2023, the Company has deposited into its tr...
New York, NY, July 18, 2023 (GLOBE NEWSWIRE) -- TenX Keane Acquisition (the “Company”) (NASDAQ: TENKU) today announced that, in order to extend the date by which the Company must complete its initial business combination from July 18, 2023 to October 18, 2023, the Company has deposited into its trust account (the “Trust Account”) an aggregate of $660,000 (the “Extension Fee”), representing $0.10 per public share of the Company. The payment for such Extension Fee was made by 10XYZ Holdings LP, the sponsor of the Company (the “Sponsor”), which was evidenced by an unsecured promissory note issued by the Company to the Sponsor. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About TenX Keane Acquisition TenX Keane Acquisition is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Forward-Looking Statements This press release contains statements that constitute “forward-looking statements,” including with respect to the separation and trading of the Company’s securities and search for an initial business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of TenX Keane Acquisition, including those set forth in the Risk Factors section of TenX Keane Acquisition’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. TenX Keane Acquisition undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Contact Information: Taylor Zhang Chief Financial Officer Email: target@tenxkeane.com Tel: (347) 627-0058
TENK TENKR TENKU | globenewswire | about 2 years ago | Neutral

TenX Keane Acquisition Announces the Separate Trading of its Ordinary Shares and Rights Commencing on December 8, 2022New York, NY, Dec. 06, 2022 (GLOBE NEWSWIRE) -- TenX Keane Acquisition (the “Company”) (Nasdaq: TENKU), a newly incorporated blank check company, today announced that, commencing on December 8, 2022, holders of the 6,600,000 units (the “Units”) sold in the Company’s initial public offering (the “O...
New York, NY, Dec. 06, 2022 (GLOBE NEWSWIRE) -- TenX Keane Acquisition (the “Company”) (Nasdaq: TENKU), a newly incorporated blank check company, today announced that, commencing on December 8, 2022, holders of the 6,600,000 units (the “Units”) sold in the Company’s initial public offering (the “Offering”), including Units sold upon the partial exercise of the underwriters’ over-allotment option, may elect to separately trade the ordinary shares and rights included in the Units. Any Units not separated will continue to trade on the NASDAQ Global Market (“NASDAQ”) under the symbol “TENKU.” Any underlying ordinary shares and rights that are separated are expected to trade on the NASDAQ under the symbols “TENK” and “TENKR,” respectively. Holders of Units will need to have their brokers contact the Company's transfer agent, American Stock Transfer & Trust Company, in order to separate the holders’ Units into ordinary shares and rights. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About TenX Keane Acquisition TenX Keane Acquisition is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Forward-Looking Statements This press release contains statements that constitute “forward-looking statements,” including with respect to the separation and trading of the Company’s securities and search for an initial business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of TenX Keane Acquisition, including those set forth in the Risk Factors section of TenX Keane Acquisition’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. TenX Keane Acquisition undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Contact Information: Taylor Zhang Chief Financial Officer Email: tzhang@ascendantga.com Tel: (347) 627-0058
TENK TENKR TENKU | globenewswire | about 3 years ago | Neutral

TenX Keane Acquisition Announces Closing of $66 Million Initial Public Offering, Including Partial Exercise of Underwriter’s Over-Allotment OptionNew York, Oct. 18, 2022 (GLOBE NEWSWIRE) -- TenX Keane Acquisition (NASDAQ:TENKU) (the “Company”), a newly incorporated blank check company incorporated as a Cayman Islands exempted company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganizat...
New York, Oct. 18, 2022 (GLOBE NEWSWIRE) -- TenX Keane Acquisition (NASDAQ:TENKU) (the “Company”), a newly incorporated blank check company incorporated as a Cayman Islands exempted company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, today announced the closing of its previously announced initial public offering of 6,600,000 units at an offering price of $10.00 per unit, which includes 600,000 units issued pursuant to the partial exercise of the underwriter’s over-allotment option, for aggregate gross proceeds to the Company of $66,000,000. Each unit consists of one ordinary share and one right. Each right entitles the holder thereof to receive two-tenths (2/10) of one ordinary share upon consummation of the Company’s initial business combination. The units began trading on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “TENKU” on October 14, 2022. Once the securities comprising the units begin separate trading, the ordinary shares and rights will be traded on Nasdaq under the symbols “TENK” and “TENKR,” respectively. Maxim Group LLC acted as the sole book-running manager for the offering. A registration statement on Form S-1 (File No. 333-256271) relating to the securities sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on October 13, 2022. The offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, or by accessing the SEC’s website, www.sec.gov. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About TenX Keane Acquisition TenX Keane Acquisition is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Forward-Looking Statements This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and final prospectus filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Contact Information: Taylor Zhang Chief Financial Officer Email: tzhang@ascendantga.com Tel: (347) 627-0058
TENK TENKR TENKU | globenewswire | about 3 years ago | Neutral

TenX Keane Acquisition Announces Pricing of $60 Million Initial Public OfferingNew York, Oct. 13, 2022 (GLOBE NEWSWIRE) -- TenX Keane Acquisition (the “Company”), a newly incorporated blank check company incorporated as a Cayman Islands exempted company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar ...
New York, Oct. 13, 2022 (GLOBE NEWSWIRE) -- TenX Keane Acquisition (the “Company”), a newly incorporated blank check company incorporated as a Cayman Islands exempted company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 6,000,000 units at an offering price of $10.00 per unit, with each unit consisting of one ordinary share and one right. Each right entitles the holder thereof to receive two-tenths (2/10) of one ordinary share upon consummation of the Company’s initial business combination. The units are expected to trade on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “TENKU” beginning on October 14, 2022. Once the securities comprising the units begin separate trading, the ordinary shares and rights will be traded on Nasdaq under the symbols “TENK” and “TENKR,” respectively. Maxim Group LLC is acting as the sole book-running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to 900,000 additional units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on October 18, 2022, subject to customary closing conditions. A registration statement on Form S-1 (File No. 333-256271) (the “Registration Statement”) relating to the securities to be sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on October 13, 2022. The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, or by accessing the SEC’s website, www.sec.gov. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About TenX Keane Acquisition TenX Keane Acquisition is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Forward-Looking Statements This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Registration Statement and related preliminary prospectus filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Contact Information: Taylor Zhang Chief Financial Officer and Director Email: tzhang@ascendantga.com Tel: (347) 627-0058
TENK TENKR TENKU | globenewswire | about 3 years ago | Neutral

Profile

TenX Keane Acquisition Ordinary Share (TENK)

TenX Keane Acquisition does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on target businesses operating in Asia, excluding companies located or operating in mainland China, Hong Kong, or Macau. TenX Keane Acquisition was incorporated in 2021 and is based in New York, New York.

Exchange: NASDAQ

IPO Date: 12/8/2022

Sector: Financial Services

Industry: Shell Companies

Employees: 0

Address: 420 Lexington Avenue, New York, NY, United States, 10170

https://www.tenxkeane.com

Quarterly Yearly

&ebsp;&ebsp;&ebsp;&ebsp;&ebsp;&ebsp;	06/30/2024	03/31/2024	12/31/2023	09/30/2023	06/30/2023	03/31/2023	12/31/2022	09/30/2022	06/30/2022	03/31/2021	Totals
	06/30/2024	03/31/2024	12/31/2023	09/30/2023	06/30/2023	03/31/2023	12/31/2022	09/30/2022	06/30/2022	03/31/2021	Totals
Assets	49.19K	48.68K	72.62K	70.71K	69.85K	68.19K	68.19K	256.745	210.582	-	447.91K
Current Assets	40.988	94.394	58.2	85.156	461.907	377.344	377.344	-	-	-	1.50K
Cash And Short Term Investments	0.261	33.33	-	26.523	370.095	289.175	-	-	-	-	719.384
Other Current Assets	40.727	61.064	-	58.633	91.812	88.169	-	-	-	-	340.405
Non Current Assets	49.15K	48.58K	72.57K	70.63K	69.39K	67.81K	67.81K	256.745	210.582	-	446.41K
Long Term Investments	-	-	-	-	69.39K	67.81K	-	-	-	-	137.20K
Non Currrent Assets Other	49.15K	48.58K	72.57K	70.63K	69.39K	67.81K	67.81K	-	-	-	445.95K
Liabilities	3.08K	2.82K	2.05K	1.17K	463.875	31.836	31.836	266.858	220.695	-	10.13K
Current Liabilities	3.08K	2.82K	2.05K	1.17K	463.875	31.836	31.836	266.858	220.695	53.389	10.18K
Accounts Payable	-	-	-	-	108.899	-	-	-	-	-	108.899
Short Long Term Debt	1.72K	1.52K	1.32K	-	-	-	-	-	-	-	4.56K
Other Current Liabilities	1.36K	1.30K	-	1.17K	463.875	31.836	-	266.858	-	53.389	4.64K
Non Current Liabilities	49.15K	48.32K	-	70.63K	69.39K	67.81K	-	-	-	-	305.30K
Other Liabilities	-	-	-	-	69.39K	-	-	-	-	-	69.39K
Stockholder Equity	46.11K	45.86K	70.58K	69.54K	69.39K	68.16K	68.16K	-10.113	-10.113	-	437.78K
Liabilities And Stockholders Equity	49.19K	48.68K	-	70.71K	69.85K	68.19K	-	256.745	-	-	306.88K
Common Equity	-	-	-	-	0.242	0.242	-	-	-	-	0.484
Retained Earnings	-	-	-	-	-2.21	345.266	-	-	-	-	343.05600000000004
Totals		301.28K	297.35K	293.80K	426.53K	558.45K	476.99K	272.42K	1.56K	852.4409999999998	106.778	2.63M

&ebsp;&ebsp;&ebsp;&ebsp;&ebsp;&ebsp;	12/31/2023	12/31/2022	12/31/2021	Totals
	12/31/2023	12/31/2022	12/31/2021	Totals
Assets	72.62K	68.19K	126.422	140.94K
Current Assets	58.2	377.344	126.422	561.966
Cash And Short Term Investments	32.745	289.175	-	321.92
Other Current Assets	25.454	88.169	126.422	240.045
Non Current Assets	72.57K	67.81K	126.422	140.50K
Long Term Investments	-	67.81K	-	67.81K
Non Currrent Assets Other	72.57K	67.81K	101.422	140.48K
Liabilities	2.05K	31.836	136.535	2.21K
Current Liabilities	2.05K	31.836	136.535	2.21K
Short Long Term Debt	1.32K	-	-	1.32K
Other Current Liabilities	725.761	31.836	136.535	894.132
Non Current Liabilities	72.57K	67.81K	-	140.38K
Other Liabilities	-	67.81K	-	67.81K
Stockholder Equity	70.58K	68.16K	-10.113	138.73K
Liabilities And Stockholders Equity	72.62K	68.19K	126.422	140.94K
Common Equity	-	0.242	-	0.242
Retained Earnings	-	345.266	-	345.266
Totals		439.77K	544.80K	1.13K	985.71K

&ebsp;&ebsp;&ebsp;&ebsp;&ebsp;&ebsp;	Totals
	Totals
Totals		-

&ebsp;&ebsp;&ebsp;&ebsp;&ebsp;&ebsp;	Totals
	Totals
Totals		-

&ebsp;&ebsp;&ebsp;&ebsp;&ebsp;&ebsp;&ebsp;	06/30/2024	03/31/2024	12/31/2023	09/30/2023	06/30/2023	03/31/2023	12/31/2022	03/31/2021	Totals
	06/30/2024	03/31/2024	12/31/2023	09/30/2023	06/30/2023	03/31/2023	12/31/2022	03/31/2021	Totals
Cash From Operating Activities	-364.055	-191.69	-218.777	-113.472	-100.256	-47.968	-47.968	-	-1.08K
Net Income	252.462	489.829	1.03K	157.943	616.296	380.811	380.811	-9.389	3.30K
Extraordinary Items	-	-	-	-	-	-	-	-	-
Change To Liabilities	-	-	-	-	66.12	-	-	-	66.12
Change To Net Income	-	-	-	-	-815.85	-	-	9.389	-806.461
ChangeToOperatingActivities	-	-	-	-	99.298	-	-	-	99.298
Capital Expenditures	-	-	-	-	-	-	-	-	-
Cash From Financing Activities	353.654	-24.55K	885	429.9	345.536	-	-	-	-22.53K
Net Borrowings	-	-	-	-	349.975	-	-	-	349.975
Sale Purchase Of Stock	-268.645	-24.94K	-	-	-	-	-	-	-25.21K
Other Cashflows From Financing Activities	353.654	192.274	-	429.9	345.536	-	-	-	1.32K
Cash And Cash Equivalents Changes	-	-	-	-	249.719	-	-	-	249.719
Totals		327.07	-48.99K	1.70K	904.271	1.16K	332.84299999999996	332.84299999999996	-	-44.24K

&ebsp;&ebsp;&ebsp;&ebsp;&ebsp;&ebsp;&ebsp;	12/31/2023	12/31/2022	12/31/2021	Totals
	12/31/2023	12/31/2022	12/31/2021	Totals
Cash From Operating Activities	-601.304	-47.968	-4.951	-654.223
Net Income	2.42K	380.811	-10.113	2.79K
Extraordinary Items	-	-	-	-
Change To Liabilities	-	152.41	-	152.41
Change To Net Income	-	-	-493.02	-493.02
ChangeToOperatingActivities	-	-	12.136	12.136
Cash flows From Investing Activities	-	-67.32K	-67.32K	-134.64K
Capital Expenditures	-	-	-	-
Other Cashflows From Investing Activities	-	-	-67.32K	-67.32K
Cash From Financing Activities	1.66K	67.66K	67.66K	136.98K
Net Borrowings	-	-130.687	-130.687	-261.374
Sale Purchase Of Stock	-	69.36K	-	69.36K
Other Cashflows From Financing Activities	1.66K	-1.57K	-1.57K	-1.48K
Cash And Cash Equivalents Changes	-	289.175	-	289.175
Totals		5.15K	68.77K	-69.18K	4.73K

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