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Eastman Kodak Receives $765 Million Loan To Produce Drugs Ingredients
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Eastman Kodak Company (NYSE:KODK) was up 611.96% over the last one month. The company received $765 million from the government to boost the production of vital ingredients in the manufacture of COVID-19 medicines. The development of bank credit under the Defence Production Act is the first of its kind in collaboration with DOD.
The loan could offer a lifeline to the company which was a former photography giant whose business suffered in the advent of the filmless camera. Kodak will reorient part of its factory structure for the production of drug ingredients under the Kodak pharmaceuticals segment. The company will produce various medicine ingredients including those of the controversial hydroxychloroquine that Trump said can treat COVID-19.
Marathon Patent Acquires 700 M31S+ ASIC Miners
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Over the past month, Marathon Patent Group Inc (NASDAQ:MARA) has surged around 366.95%. The company announced the procurement of 700next-gen M31S+ ASIC Miners and S-19 Pro Bitmain Miners shipment. Marathon Patent bought the miners from MicroBt and they are expected to arrive mid this month. Equally 660 of the 1,660 S-19 Pro Bitmain Miners that had been purchased before will also arrive somewhere mid-august. The CEO stated that in the past few months they have invested in the business by purchasing around 3,020 next-gen miners.
Recently the company priced its underwritten public offering of 6.67 million common shares at a public offering for $0.90 per share. Gross proceeds from the offering estimated to be around $6 million will be used for general working capital and expansion of business and fund current operations.
Pacific Ethanol Enhances Production Of Its USP grade Alcohol at Pekin Facility
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Pacific Ethanol Inc. (NASDAQ:PEIX) has also surged in the past month and the stock is up 265.99%. The company announced that it expects to release its Q2 2020 results on August 11, 2020, after market close. A conference call to discuss the results is expected on August 12, 2020.
Recently the company announced the expansion of its USP grade alcohol production capacity at the Pekin, Illinois facility by around 30 million gallons annually. Pacific alcohol expects the new capacity to be online in Q4 2020 to address the increasing demand for its USP grade premium alcohol to current and new customers. So far the company has already added 25 million gallons to its annual capacity vial process improvements and debottlenecking.
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COMTEX_369167893/2700/2020-08-10T09:36:48
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