iTonic Holdings Ltd (ITOC) Sets 16-for-1 Reverse Split Effective Oct 6

Rapport Therapeutics (RAPP) priced offerings of $175M in common stock at $21/share, $25M in pre-funded warrants, and $150M in convertible notes due 2032. It also agreed to a $30M private placement. Proceeds will fund clinical trials, R&D, and operations through 2029. RAPP stock is down 15.32% to $23.32.

GM will invest $750M in its Lansing Delta Township plant to produce hybrids, part of a $2B investment in Lansing facilities. The plant currently makes SUVs. GM did not specify models or timing, but an industry consultant predicts hybrid versions of the Chevy Equinox, trucks, and midsize SUVs by 2030. GM's CEO previously stated hybrid models would launch in 2027.

Cantor Fitzgerald reiterated an Overweight rating and $400 price target on NXP Semiconductors (NXPI), citing operational efficiency and long-term growth drivers. The company reported Q3 earnings of $4.20 per share on $3.79B revenue, with Q4 guidance slightly below expectations. NXPI announced a $5B buyback, bringing total authorization to $6.3B. Analysts have mixed price targets, ranging from $280 to $400.

AI companies like Anthropic and Meta are pursuing large funding rounds, with Anthropic targeting a $100B IPO and Meta planning $97.5B in equity offerings. Investors are cautious, as Meta's shares fell 11% post-announcement and Anthropic reported widening losses. Microsoft and Alphabet may reveal fundraising plans in earnings reports. AI stocks contributed 75% of the S&P 500's 2026 returns, but concerns about debt and sustainability persist, particularly for smaller firms like CoreWeave.

IREN Limited (NASDAQ: IREN) closed a $363 million equipment financing deal with Wingspire Equipment Finance, backed by its AI computing assets. The deal refinances existing GPU servers and networking systems, with six lenders led by Eldridge Capital and Silver Point. IREN has secured over $6 billion in financing this year, including a $3.65 billion facility with Microsoft and a $2.4 billion facility led by Blue Owl.

IREN and Wingspire Equipment Finance closed a $363M financing deal for AI compute infrastructure. The transaction, led by Eldridge and Silver Point, refinanced GPU servers and networking systems, returning significant capital to IREN. The financing is secured by the equipment and supported by multi-year contracts.