Tenet Fintech Group Inc. (CSE: PKK, OTC Pink: PKKFF)
Commercial Lending in China Ready to Tenet!
T-Mobile (NASDAQ:TMUS) will sell just under 133.55M shares of common stock in connection with SoftBank’s (OTCPK:SFTBY) monetization of part of its holdings in the company.
For every share it sells in a public transaction, T-Mobile is agreeing to repurchase a share from a SoftBank subsidiary at a price equivalent to what it received. So the public transactions won’t involve gain or loss to T-Mobile, and won’t affect its capitalization or the number of outstanding shares.
It’s registering 133,548,303 shares of common stock for offering, and underwriters will get an option to buy up to an additional 10,016,123 shares.
It expects on June 26 to distribute subscription rights to purchase 0.05 shares of its common stock, for up to 19.75M shares. That will entitle existing shareholders to subscribe for common stock at the per-share price to the public in the public offering. The rights are those of record as of 5 p.m. ET on June 25.
T-Mobile also intends to sell up to 30M share to a Delaware statutory trust, in order to offer cash mandatory exchangeable trust securities in a private offering exempt from registration.
Microsoft (MSFT +2.4%) is shutting down its Mixer live-streaming service, and will move its streamers and the audience to Facebook Gaming (FB +0.2%).
That’s a setback for Microsoft’s ambitions to compete with Twitch (NASDAQ:AMZN) and YouTube (GOOG, GOOGL), but looks likely to broaden its gaming service reach: Microsoft will provide its Project xCloud streaming service to Facebook Gaming.
Microsoft aimed at Twitch when it launched Mixer in 2017, after reconfiguring its Beam acquisition from the year before.
As of last August, Mixer had about 30M viewers.
Microsoft will retain Beam’s technology, and use its low-latency video networking for internal purposes.
Spotify (NYSE:SPOT) is now available to stream on Comcast’s (NASDAQ:CMCSA) Xfinity platform, giving subscribers easy access through their TV to Spotify music and podcasts.
The offerings will also begin rolling out to X1 customers over the Internet.
Those with Xfinity Flex and (in coming days) X1 can say “Spotify” into their voice remote and log in to start streaming Spotify. New customers can create a Spotify account directly in the interface.
Spotify joins other audio streaming services already on the platform: Pandora, Amazon Music, Radio.com, iHeartRadio, XITE, NPR One, Music Choice, Stingray Music and Baeble.
Tech beneficiaries of the pandemic’s stay at home orders gained today as coronavirus cases spiked in some parts of the United States.
Zoom Video (ZM +3.1%) and Five9 (FIVN +7.8%) hit intraday highs, while Dropbox (DBX +0.8%) outperformed the broader market.
Video conferencing company Zoom has gained nearly 258% YTD.
Patagonia and REI have become the latest brands to join in an ad boycott of Facebook (NASDAQ:FB).
They’re now aligned with The North Face, which announced it was suspending ads as part of the “Stop Hate for Profit” campaign protesting Facebook’s policies on hate speech and misinformation.
Patagonia’s boycott includes Instagram and will run through the end of July, “pending meaningful action from the social media giant,” the company says. “For too long, Facebook has failed to take sufficient steps to stop the spread of hateful lies and dangerous propaganda on its platform.”
REI said “For 82 years, we have put people over profits. We’re pulling all Facebook/Instagram advertising for the month of July.”
