Powerhouse mergers: transforming children's fashion in New York and streaming in Dubai

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FOCUS LIST🔎

PIK - Up over 50% in the pre-market after announcing entry into definitive merger agreement with Nina Footwear

VTSI - Up over 15% in pre after reporting better than expected earnings, record annual sales

ANGH - Up over 15% in pre after completing acquisition of majority stake in OSN+ 

HOTLIST🔥

PIK - Up over 50% in the pre-market after announcing entry into definitive merger agreement with Nina Footwear

Kidpik Corp. (PIK) operates as a subscription-based e-commerce company that sells kids apparel, footwear, and accessories.

In the after-hours yesterday, the company announced that it had entered into a definitive merger agreement with Nina Footwear, a private company operating a brand specializing in women’s and kids’ dress shoes and accessories for special occasions

The Board of Directors of both companies have approved the all-stock transaction. 

The combined company will operate as Nina Holdings Corp. In connection with the merger, Nina Footwear stockholders will be issued shares of common stock of Kidpik such that upon closing thereof, Nina Footwear’s stockholders will own 80% of Kidpik’s outstanding common stock.

Kidpik is controlled by Mr. Ezra Dabah, the Chief Executive Officer, Chairman, and majority stockholder (67% beneficial owner) of Kidpik, who is also the Chief Executive Officer of Nina Footwear. Mr. Dabah and his children own approximately 79.3% of Nina Footwear, and Mr. Dabah and his extended family own 100% of Nina Footwear. Mr. Dabah, his children and wife are expected to continue to control approximately 76.8% of the combined company’s voting shares following the closing of the merger.

Mr Dabah stated:

“Our transaction is expected to increase Kidpik’s revenue, cashflow and prospects, while also strengthening Kidpik’s balance sheet and significantly increasing stockholder value.”

The stock traded up over over 50% in the pre-market after the news release yesterday.

The $6.95 area acted as support in the pre-market and now becomes a potential resistance level.

Above it, targets to the upside are $7.50, $7.90, $8.38 and then the pre-market high at $8.65. Beyond that, $9 and $10 come into play.

Below $6.95, targets to the downside are $5.95, $5 and then a gap fill at $4.35.

VTSI - UP over 15% in pre after reporting better than expected earnings, record annual sales

VirTra, Inc. (VTSI) is a global provider of judgmental use of force training simulators and firearms training simulators for the law enforcement and military markets.

In the after-hours yesterday, the company reported Q4 2023 earnings, with Net Income of $2.8million, a $1.4million increase Year Over Year (YoY), revenue of $10.1 million, a 17% increase YoY and a 58% increase in Gross Profit to $8.4 million or 83% of total revenue. 

Full Year 2023 Net income increased by $6.4 million to $8.4 million and Cash and cash equivalents  was at $18.9 million at December 31, 2023.

The stock traded up over 15% in the pre-market after the earnings release yesterday.

The $10.80 area acted as resistance in the after-hours and then began to act as support so will be an important level to watch. 

Above it, targets to the upside are $11.25, $11.70 and then the after-hours high at $12. Beyond that, the all-time high at $12.93 comes into play.

ANGH - Up over 15% in pre after completing acquisition of majority stake in OSN+ 

Anghami Inc. (ANGH) is a music and entertainment streaming platform in the Middle East and North Africa. 

This morning the company announced that it had completed the acquisition of a majority stake (55.45%) in OSN+. 

OSN+ is a leading video streaming platform for premium content in the UAE (similar to HBO), and today received all regulatory approvals to complete the transaction. 

The combined entity brings together OSN+'s premium and exclusive library of 18,000 hours of video content with Anghami's rich catalog of more than 100 million songs and podcasts.

The stock traded up over 15% in the pre-market after the news.

The $2.37 area has acted as resistance in the pre–market and will be the first major target for bulls. Above it the next target is the pre-market high at $2.50 and then $3, $3.49 and $4 come into play.

Below $2.37, targets to the downside are $2.20, $2.10, $2.05 and then a gap fill at $1.95.

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