Viasat To Sell Link 16 Tactical Data Links Business To L3Harris For $1.96 Bln

I-25 closure at Colorado 7 due to tractor-trailer rollover

Interstate 25 northbound at Colo. 7 in Broomfield is closed due to a tractor-trailer that rolled over on the roadway.

The Broomfield Police Department tweeted the the truck driver is not injured, but there is no estimate for when the crash could be cleared.

Police ask drivers to find alternate routes, and traffic is using the Colo. 7 ramps as a detour and causing significant delays.

NASA Spacecraft Set To Crash Into Asteroid In Defense Test

NASA’s Double Asteroid Redirection Test (DART) spacecraft will crash into an asteroid on Monday as part of an experiment to see how difficult it would be to deviate an earth-bound sizeable space rock to prevent it from hitting the planet.

At 7:14 p.m. ET on Monday, DART will intentionally crash into Dimorphos, the asteroid moonlet of Didymos, to slightly change its motion in space.

The demonstration, which is taking place about 11 million kilometers away, poses no threat to Earth, NASA says.

This is the world’s first test of the kinetic impact technique, using a spacecraft, for defending Earth against potential asteroid or comet hazards.

This test will show a spacecraft can autonomously navigate to a target asteroid and intentionally collide with it to change the asteroid’s motion in a way that can be measured using ground-based telescopes. DART will provide important data to help better prepare for an asteroid that might pose an impact hazard to Earth, should one ever be discovered.

The Johns Hopkins Applied Physics Laboratory in Laurel, Maryland, manages the DART mission for NASA’s Planetary Defense Coordination Office as a project of the agency’s Planetary Missions Program Office.

Live coverage of DART’s impact with the asteroid Dimorphos will start on NASA TV and the U.S. space agency’s website at 6 p.m. ET. The public also can watch it live on NASA’s social media accounts on Facebook, Twitter, and YouTube.

Mobileye Of Intel Files For IPO

Intel Corp. (INTC) Monday announced the filing of Form S-1 by its subsidiary Mobileye Global Inc. for the initial public offering of its class A common stock under the ticker ‘MBLY.’ The company has not revealed the number of shares to be offered and the timings.

Mobileye is a provider of advanced driver-assistance systems and autonomous driving technologies and solutions.

Silo Pharma Stock Gains 9%

Shares of Silo Pharma, Inc. (SILO) are gaining over 9% on Monday morning after the company announced that it is working with Premier Consulting as its regulatory partner to assist with the preparation of a pre-Investigational New Drug (IND) package and meeting request with the Food and Drug Administration (FDA) for a novel topical formulation of ketamine, designated as SPC-26, for the treatment of fibromyalgia.

SILO is currently trading at $5.87, up $0.50 or 9.31%, on the Nasdaq. The stock opened its trading at $5.75 after closing Friday’s trading at $5.37. The stock has traded between $0.17 and 12.45 in the past 52-week period.

Premier Consulting will assist the company with the development of its nonclinical, clinical, clinical pharmacology, and biopharmaceutics strategy and program to be proposed to the FDA. The submission of a pre-IND meeting request for collaborative discussions with the FDA will be made in anticipation of the filing a clinical IND package.

“We are confident that our highly constructive pre-clinical work on SP-26 will offer strong support for our pre-IND package as we seek to advance our time-released ketamine delivery system into the clinic,” said CEO Eric Weisblum. “We intend to pursue the 505(b)(2) regulatory pathway and have engaged Premier Consulting as a true strategic partner to pave the way for productive discussions and alignment with the FDA.”

Myovant Sciences Spikes After Rejecting $2.5 Bln Offer From Sumitovant

Myovant Sciences Ltd. (MYOV) shares are surging on Monday morning trade after rejecting a $2.5 billion non-binding proposal from Sumitovant Biopharma and Sumitoma Pharma.

The biopharmaceutical company said its special committee determined that it significantly undervalues the company and is not in the best interests of the company.

Sumitovant currently holds approximately 52 percent of the outstanding shares of the Company.

Currently, shares are at $24.51, up 38.64 percent from the previous close of $17.96 on a volume of 2,623,786.

FingerMotion Stock Surges 60%

Shares of FingerMotion, Inc. (FNGR) are surging nearly 60% on Monday morning.

FNGR is currently trading at $5.38, up $2.01 or 59.64%, on the Nasdaq, on a volume of 29 million shares, above average volume of 0.7 million. The stock opened its trading at $4.21 after closing Friday’s trading at $3.37. The stock has traded between $0.62 and $9.25 in the past 52-week period.

FingerMotion, Inc., a mobile data specialist company, provides mobile payment and recharge platform solutions in China.

RingCentral Touches Year-to-date Low

RingCentral, Inc. (RNG) shares are declining more than 4 percent on Monday morning trade, touching a year-to-date low. There have been no stock-specific news that could impact the stock.

Currently, shares are at $37.99, down 4.94 percent from the previous close of $39.96 on a volume of 344,617.

Viasat To Sell Link 16 Tactical Data Links Business To L3Harris For $1.96 Bln

Viasat Inc. (VSAT), a global leader in satellite communications, announced Monday it has entered into a definitive agreement to sell its Link 16 Tactical Data Links (TDL) business to L3Harris Technologies, Inc. (LHX) for $1.96 billion, subject to customary transaction adjustments in accordance with the agreement.

The sale is expected to result in cash proceeds to Viasat of approximately $1.8 billion net after estimated taxes, fees, and other expenses.

Viasat’s Link 16 Tactical Data Link business is part of its Government Systems segment. The sale includes the Multifunctional Information Distribution System (MIDS) platforms and associated next-generation Link 16 terminals and handheld radios, as well as the Link 16 to space business.

Viasat intends to use the proceeds of the Link 16 TDL sale to reduce net leverage and increase liquidity.

The Link 16 TDL sale is expected to close in the first half of calendar year 2023 and is subject to regulatory approvals and customary closing conditions. Viasat received approval for the Link 16 TDL sale from Inmarsat’s equity sponsors.