Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Bigtincan Holdings Ltd (ASX: BTH)

The Bigtincan share price is up 22% to 19.5 cents. Investors have been buying this sales enablement platform provider's shares after it received a new takeover offer. NASDAQ-listed Investcorp India Acquisition Corp (NASDAQ: IVCA) has made a non-binding proposal for a business combination. Under the proposal, all of the shares in Bigtincan would be exchanged for shares in a newly formed Cayman Island holding company at an implied equity value of US$275 million (~A$400 million). This is the equivalent of A$0.472 per share at current exchange rates. The Bigtincan board is evaluating the offer.

Newmont Corporation (ASX: NEM)

The Newmont share price is up almost 2% to $78.61. Investors have been buying the gold miner's shares after the price of the precious metal rebounded overnight. The catalyst for this was escalating tensions in the Middle East. This led to increased demand for safe haven assets. It isn't just Newmont shares that are rising today. The S&P/ASX All Ordinaries Gold index is up 0.8% at the time of writing.

Santos Ltd (ASX: STO)

The Santos share price is up 2.5% to $7.18. This follows a strong rise in oil prices overnight due to the aforementioned tensions in the Middle East. In addition, Santos announced that it has signed a mid-term LNG supply contract with TotalEnergies Gas & Power Asia. This will see it supply 20 LNG cargoes, or up to approximately 0.5 million tonnes of LNG per annum over a period of three years plus one quarter. Santos CEO, Kevin Gallagher, commented: "This oil indexed contract, along with the recently executed long-term LNG Sales and Purchase Agreement with Hokkaido Gas in Japan, and the mid-term contract with Glencore, demonstrates Santos' strong LNG portfolio position and customer relationships in the region."

Sigma Healthcare Ltd (ASX: SIG)

The Sigma share price is up a further 6% to $1.87. Investors have been buying this pharmacy chain operator and wholesaler's shares this week following an update on its proposed acquisition of Chemist Warehouse. That update reveals that Sigma has offered to make court-enforceable undertakings to help satisfy competition concerns. ACCC Chair, Gina Cass-Gottlieb, responded: "We are now seeking feedback from stakeholders on whether the draft undertaking offered by Sigma may be capable of addressing the competition concerns arising from its proposed acquisition of Chemist Warehouse." The market may believe this will be enough to get the deal over the line.

The post Why Bigtincan, Newmont, Santos, and Sigma shares are pushing higher today appeared first on The Motley Fool Australia.

In morning trade, the small cap ASX stock is up 20% to 20 cents.

Why is this small cap ASX stock jumping?

The catalyst for this gain has been news that the sales enablement platform provider has received a new takeover approach.

As a reminder, in June, Bigtincan rejected a 19 cents per share non-binding offer from Vector Capital Management. It then returned with an improved offer of 20 cents per share last month.

Well, it seems that management was right to reject the offer in June. That's because this morning it has received a significantly better offer from NASDAQ-listed Investcorp India Acquisition Corp (NASDAQ: IVCA).

Investcorp India Acquisition Corp (IVCA) is sponsored by Investcorp, which is a leading global alternative investment firm with approximately US$53 billion of total assets under management.

According to the release, IVCA has made a non-binding proposal for a business combination.

Under the proposal, all of the shares in Bigtincan would be exchanged for shares in a newly formed Cayman Island holding company at an implied equity value of US$275 million (~A$400 million).

This is the equivalent of approximately A$0.472 per share at current exchange rates, which represents a 195% premium to where the small cap ASX stock ended yesterday's session.

In addition, the company notes that the proposal envisions a partial cash election opportunity at A$0.2352 per share. This is subject to availability of funds and a scale back mechanism.

If the deal were to go ahead, it would result in the newly formed Cayman Island holding company being listed on the NASDAQ and owning Bigtincan and IVCA.

Though, the proposed transaction is conditional on entering into a business combination agreement, a scheme implementation deed, and a number of ancillary agreements.

The proposed transaction would, if implemented, result in Bigtincan shareholders owning up to 75% of the newly formed company immediately following implementation of the transaction. This is subject to cash elections.

If everything goes to plan, the proposal targets a completion by March 2025. After which, the small cap ASX stock would be listed on the NASDAQ and delisted from the ASX.

What now?

Bigtincan is currently evaluating the recently announced 20 cents per share offer from Vector Capital Management.

It will now evaluate the offer against the IVCA Proposal and determine which, if any, is in the best interests of shareholders to further progress.

In the meantime, the small cap ASX stock advised shareholders that they do not need to take any action in respect of either proposal. It also warned that there is no certainty any transaction will eventuate from either proposal.

The post Which small cap ASX stock is jumping 20% after receiving a takeover offer? appeared first on The Motley Fool Australia.

Investors have been bidding the fund manager's shares higher after it received a takeover offer from Regal Partners Ltd (ASX: RPL).

But it isn't the only ASX share that is rising because of a takeover approach today. Two more shares that are shooting higher are listed below. Here's what they have announced:

Bigtincan Holdings Ltd (ASX: BTH)

The Bigtincan share price is up 33% to 16 cents. This has been driven by news that the sales enablement software provider has received a revised non-binding proposal from Vector Capital Management.

According to the release, Vector Capital Management has made an offer of $0.20 per share to acquire the company.

Bigtincan advised that the takeover offer contains the following statement:

Having reviewed the publicly available FY2024 year-end financial results and now having identified lenders willing and able to provide Vector with the necessary debt financing, Vector has received investment committee approval to, and would be prepared to, consummate a take-private transaction for BTH at an increased price of A$0.20 per share. Our offer is unconditional, does not have a financing contingency and is subject only to legal due diligence and entering into binding long form documents.

The ASX share's board advised that it will now evaluate the revised proposal with input from external advisors. It also warned that there is no certainty any control transaction will eventuate.

Vector Capital Management previously had a 19 cents per share offer rejected.

Pacific Smiles Group Ltd (ASX: PSQ)

The Pacific Smiles share price is up 16% to $1.86. This follows news that Beam Dental Bid Co, an associate of Genesis Capital, has tabled an offer for the dentist network.

According to the release, Genesis Capital proposes to acquire 100% of the shares in Pacific Smiles by way of an off-market takeover bid for $1.90 per share. This is in cash, scrip, or a mix of cash and scrip.

Pacific Smiles has advised that the offer will need to be considered in detail by its board and advisers before a formal recommendation is made to shareholders. It will also take into account feedback from shareholders and the likelihood of success of the offer when making its decision.

But as the offer, which is subject to conditions, is expected to open in the coming weeks and remain open for at least one month, it advised that there is no urgency to take action at this time.

In the meantime, it advised its shareholders to take no action in relation to the offer or any documents they may receive from Genesis Capital.

The post 2 OTHER ASX shares rocketing on takeover offers today appeared first on The Motley Fool Australia.

Bigtincan shares are up by 12% to 13.5 cents at the time of writing, as investors show a positive reaction to the company's annual earnings.

Let's see what the company posted.

ASX small-cap tech share jumps on solid full-year results

Bigtincan's FY24 results have impressed investors with the following key highlights:

• Total revenue came in at $117.1 million, with a 38% revenue decline in the Europe, Middle East and Africa (EMEA) region
• Annualised Recurring Revenue (ARR) stood at $116 million
• Earnings before interest, tax, depreciation and amortisation (EBITDA) reached $11.3 million, up from a loss of $4.9 million in FY23
• Adjusted EBITDA doubled year over year to $16.2 million
• Produced free cash flow of $5.4 million, with full-year operating cash flow of $6.2 million

What else happened in FY24?

The ASX small-cap tech stock had a period of growth in FY24 in its journey to "become cash flow positive and achieve EBITDA growth".

Revenues came to $117 million, with around $116 million of this classed as annually recurring.

The company said sales were impacted by delays in some of its expiring contracts. Despite this, sales here in Australia were up 35% year over year.

While total sales were down roughly 5%, adjusted EBITDA increased by $16 million over the twelve months.

This stemmed from the "execution of the core customer base" alongside cost-saving measures taken by the company.

It also secured its second-largest deal ever with Align Technologies, which is set to produce total cotract value (TCV) of approximately $5 million over the next 3 years. This could impact the ASX small cap tech stock.

Bigtincan also launched 'GenieAI', a large language model, which management estimates will have $5.6 million of "TCV impacts".

What did management say?

Bigtincan CEO and co-founder David Keane emphasised the company's focus on profitable customers and investments in AI technology through GenieAI.

FY24 was a transformative year for Bigtincan. The team worked together to change the buying experience of the future for our customers in a dynamic marketplace. We adjusted our business and refocused on core profitable customers, while at the same time realigning our organization structures and investing in AI capabilities through GenieAI technologies

What's next?

Looking ahead to FY25, Bigtincan aims to capitalise on the momentum from FY24. The company expects further revenue growth driven by GenieAI technology.

Bigtincan has set an EBITDA target of $14 million or more, representing 20% growth, and anticipates an improved free cash flow position.

It also forecasts ARR to grow this financial year.

For FY25, Bigtincan is building on FY24 and anticipates a significant increase in revenue opportunities from GenieAI technology, combined with the impacts from strategic investments in
market development projected to enhance new and expansion opportunities, leading to a pipeline growth of over 25% in Bigtincan's Ideal Customer Profile (ICP) customers over June FY24. These growth strategies are designed to support revenue opportunities, underpinned by solid infrastructure prepared for future developments.

ASX small-cap tech share snapshot

This ASX small-cap tech stock is surging well into the green today as investors digest its FY24 results. Over the last 12 months, the share has fallen 66%.

The post ASX small-cap tech stock pops 12% on FY24 profit growth appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are racing higher:

Bigtincan Holdings Ltd (ASX: BTH)

The Bigtincan share price is up 12% to 11 cents. This morning, this tech company revealed that it received and rejected a new takeover offer. Bigtincan received a revised confidential, non-binding, incomplete and indicative offer from Vector Capital Management at an indicative offer price of 19 cents per share. The Bigtincan board advised that it has evaluated the revised proposal and, after consultation, views it as insufficient to engage with Vector and has formally rejected it. Bigtincan remains committed to executing its strategic plan and maximising shareholder value.

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up 6% to $1.66. This follows news that the counter drone technology company has won a major new contract. DroneShield has received an order valued at $4.7 million from a new non-government Swiss international customer. The order will see the company provide the customer with multiple vehicle-based counter-drone (C-UxS) systems. The system will be powered by the DroneSentry-C2 command-and-control system, including its proprietary AI-based sensor fusion engine. The end user for this technology has not been named by DroneShield. However, it has been described as a high-profile Government agency.

Guzman y Gomez Limited (ASX: GYG)

The Guzman y Gomez share price is up 36% to $30.00. Investors have been fighting to get hold of this quick service restaurant operator's shares following the completion of its IPO today. Guzman y Gomez listed on the ASX with a price of $22.00 per share. Following today's gain, the company now has a market capitalisation of ~$3 billion. This means that its shares are changing hands for approximately 500x FY 2025 forecast earnings.

Helia Group Ltd (ASX: HLI)

The Helia Group share price is up 16% to $3.87. Investors appear to believe this lenders mortgage insurance provider was oversold yesterday following an update on its contract with Commonwealth Bank of Australia (ASX: CBA). Analysts at Macquarie believe the news is actually positive and expects Helia to become the sole provider of this insurance to the banking giant. As a result, they have upgraded its shares to an outperform rating with a $3.90 price target.

The post Why Bigtincan, DroneShield, Guzman Y Gomez, and Helia shares are racing higher appeared first on The Motley Fool Australia.

One is rocketing on the news.

The other is sinking.

Which ASX shares are we talking about?

Read on!

ASX share dips on takeover update

The first ASX share with a takeover update today is marine-related services provider MMA Offshore Ltd (ASX: MRM).

Investors first learned of the potential takeover of the company on 25 March. That's when the company reported it had entered into a binding scheme implementation deed with Cyan MMA Holdings to acquire all of its MMA Offshore's shares.

Cyan is owned by Seraya Partners, an infrastructure fund focused on energy transition and digital infrastructure. The original offer was for $2.60 cash per share, valuing the company at just over $1.0 billion.

The board unanimously recommended a shareholder vote in favour of the offer.

MMA Offshore chairman Ian Macliver said, "We have been in discussions with Cyan since October 2023, and the board has now reached the required level of confidence to enter into the scheme implementation deed."

The MMA Offshore share price closed up 10.6% on the day of that announcement.

Today, the ASX share is down 1.8% at $2.64 apiece after exiting a two-day trading halt.

This comes despite the company reporting that Cyan has increased its offer by 10 cents to $2.70 a share.

In the absence of a competing proposal, Cyan said this was its best and final offer. Perhaps some punters were hoping for more and are now exiting the stock.

Soaring higher on takeover update

This brings us to the ASX share, which is flying higher after the company updated the market on its own takeover proposal.

Shares in Bigtincan Holdings Ltd (ASX: BTH), which provides AI-powered sales enablement automation platforms, are up a whopping 17.4% at 11.5 cents apiece.

The tech company first announced its potential acquisition on 11 June.

At the time, Bigtincan reported:

Bigtincan has received a confidential, non-binding, incomplete and indicative offer from Vector Capital Management, L.P. at an indicative offer price of $0.25 per share.

The Independent Board Committee will, with the assistance of its financial and legal advisers, continue to carefully consider any proposals that maximise shareholder value and continue to ensure it remains in compliance with its confidentiality and continuous disclosure obligations.

The very next day, the company reported that Vector had formally withdrawn the offer, but "requested ongoing engagement with the company with a view to a new offer that could be submitted based on those engagements".

This followed a dilutive capital raise announced by Bigtincan on the day.

Today, the ASX share reported it had received a new offer from Vector at an indicative offer price of 19 cents per share.

While that's 65% above the current price, the board said it views the offer price as "insufficient to engage with Vector any further".

The board has now formally rejected the revised offer.

The post 2 ASX shares with big takeover updates today appeared first on The Motley Fool Australia.

Turning our eyes to today's action, Bigtincan Holdings Ltd (ASX: BTH), which provides AI-powered sales enablement automation platforms, is taking a beating.

Bigtincan shares closed last Friday trading for 14 cents apiece. The stock then entered a trading halt pending today's announcement on the outcome of the institutional component of the company's capital raising.

Investors responded by sending the ASX AI stock crashing 21.4% to 11 cents a share in the first half hour of trade.

Trading in Bigtincan shares was then paused once more pending a further announcement.

That announcement was released just after noon AEST today.

Here's what's happening.

ASX AI stock smashed on dilutive capital raising

Yesterday, when Bigtincan shares were in a trading halt, the company announced it was conducting a $20.5 million equity raising to support its ongoing operations and growth plans.

The ASX AI stock came under heavy selling pressure when trading resumed this morning. That's because Bigtincan is conducting the fully underwritten 1 for 3 accelerated pro rata non-renounceable entitlement offer at an offer price of 10 cents per share. Or almost 29% below Friday's closing price.

Management said the new funds will be invested in "core AI technology, data infrastructure related to provisioning of its GeneiAI technology, market awareness and development, working capital and transaction costs".

Today, Bigtincan reported the successful completion of the institutional component of the offer had raised around $10.0 million. This saw some 100.3 million new shares being issued.

The retail component of the ASX AI stock's capital raise opened this morning and is expected to bring in another $10.5 million before costs. That offer is also at 10 cents per share, which is adding to the selling pressure.

What else is happening with Bigtincan shares?

On Tuesday, the ASX AI stock also reported that it had received a confidential, non-binding, incomplete and indicative offer from Vector Capital Management at an indicative offer price of 25 cents per share.

That would represent an almost 79% upside from Friday's closing price and is more than 127% above this morning's share price.

The Bigtincan board noted it would "continue to carefully consider any proposals that maximise shareholder value". They added, "There is no certainty that any such proposals will lead to a transaction."

Indeed.

In intraday trade today, Bigtincan released yet another price-sensitive announcement.

The company reported:

This morning, Bigtincan received a letter from Vector formally withdrawing its previous non-binding indicative proposal and has requested ongoing engagement with the company with a view to a new offer that could be submitted based on those engagements.

The ASX AI stock again resumed trading following the announcement. And it's made up some lost ground.

At the time of writing, the Bigtincan share price is down 14.3% at 12 cents a share.

The post Why did this ASX AI stock just crash 21%? appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Arafura Rare Earths Ltd (ASX: ARU)

The Arafura Rare Earths share price is down almost 3% to 17.5 cents. This may have been driven by news that Rare Earths Norway has just discovered Europe's largest proven deposit of rare earth elements. Trond Watne, Chief Geologist of Rare Earths Norway, said: "We have now, through an independent third party, confirmed that we have a significant Mineral Resource at Fen. This is a milestone for us that could be extremely important for the local community in Nome, but also Norway and Europe for generations."

Bigtincan Holdings Ltd (ASX: BTH)

The Bigtincan share price is down 14% to 12 cents. This follows the completion of a $10 million institutional entitlement offer and news that Vector Capital has formally withdrawn its non-binding indicative proposal to acquire the company. Though, in respect to the latter, it has requested ongoing engagement with the company with a view of making a new offer to acquire the struggling tech company.

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is down 1.5% to $3.70. This morning, this gold miner warned that its Cowal and Mt Rawdon operations have been impacted by continued high levels of rainfall. Restrictions to open-pit operations at Cowal and Mt Rawdon have necessitated the processing of lower grade stockpile ore at various stages during the past two months to maintain full processing feed rates. The good news is that the Cowal underground operation has not been impacted by weather and has continued its planned ramp up following successful commencement of commercial production in April. In addition, material handling systems at Red Lake have been disrupted by localised seismic events at the Balmer and Cochenour areas.

Galileo Mining Ltd (ASX: GAL)

The Galileo Mining share price is down 5.5% to 25 cents. This is despite the release of an update which reveals that its Mineral Resources Ltd (ASX: MIN) farm-in agreement is now complete. Managing director, Brad Underwood, commented: "With completion of the MinRes lithium joint venture agreement, lithium exploration will now begin at the Norseman project. MinRes have an incredible depth of experience in the lithium business and have secured the rights to work on our untested lithium potential at Norseman."

The post Why Arafura Rare Earths, Bigtincan, Evolution Mining, and Galileo Mining shares are dropping appeared first on The Motley Fool Australia.

At the time of writing, the ASX artificial intelligence (AI) share is up 17% to 34.5 cents.

Why is this ASX AI share shooting higher?

Investors have been buying the AI-powered sales enablement automation platform provider's shares following the release of a business update.

According to the release, the company is undertaking a cost reduction program that will reduce normalised operating expenses by approximately 10%. This involves a reduction of full-time roles and adjustments in contractor and program spending, with a focus on non-customer-facing roles in the USA.

Management notes that this builds upon efficiencies achieved in FY 2023, which helped the company transition to cash flow breakeven.

Takeover interest

Also giving the ASX AI share a boost has been an update on potential takeover interest.

The company revealed that it has received a number of expressions of interest regarding potential control transactions. Bigtincan has established a data room to facilitate due diligence investigations for those interested parties whose expressions of interest are considered to be worthy of further investigation.

At present, multiple interested parties are active in the data room and the process is well progressed. However, management warned that there is no certainty any transaction will eventuate.

Outlook

Bigtincan has also released an update on its outlook for FY 2024.

Based on progress in the first half, Bigtincan sees Multi-Hub growing to 30%+ of ARR, revenue from Generative AI technology to commence, and retention to return to stable historic levels with continued new logo and expansion growth in FY 2024.

Management also highlights that its cost reduction program will enable the company to further build on metrics achieved in FY 2023. These are positive cash flow, as well as ARR, revenue and EBITDA growth.

The post Guess which little ASX AI share is leaping 17% today appeared first on The Motley Fool Australia.

That's because a subcategory, named generative AI, has become an overnight sensation.

One specific engine, called ChatGPT, has been largely responsible for all the hype. That service was unleashed in November, and has since taken the public's imagination by storm.

The technology has triggered both excitement and fear, with reports suggesting generative AI could pass exams for the legal and medical professions.

Anyway, this is all to say all of a sudden investors can see limitless potential for any tech company listed on the ASX associated with this field.

Let's take a look at three stocks in particular that could be particularly well-placed:

This company helps design every piece of electronics you've seen

Altium Limited (ASX: ALU) makes software for users who design printed circuit boards (PCBs).

PCBs are already used in almost every computer and electronic device.

And machines that will process artificial intelligence will be no exception.

Scientist and PCB design expert Zachariah Peterson said just this week that embedded AI developers can use the Altium Designer software to implement hardware AI accelerator options.

"The CAD features in Altium Designer enable all aspects of systems and product design, ranging from packaging and PCB layout, and up to harness and cable design," he wrote on a blog post titled The Path Forward for Embedded AI.

"When you've finished your design, and you want to release files to your manufacturer, the Altium 365 platform makes it easy to collaborate and share your projects."

The Altium share price has risen almost 18% since November.

Aussie company's AI writes its own quotes

Sydney's Bigtincan Holdings Ltd (ASX: BTH) creates sales enablement software for large business clients, which doesn't have an obvious link to AI.

But in March, the company announced its GenieAI product, which uses artificial intelligence for clients to improve "how humans work and how they sell".

Bingtincan says the module uses large language model (LLM) technology to automatically perform copywriting, content summaries, Q&A searches, and create a virtual assistant.

"GenieAI offers sales professionals the ability to quickly digest material and gain insights into the content's meaning," said GenieAI itself.

"It is also capable of generating email templates that sales professionals can customise and send to their buyers. It's a game-changer for sales professionals looking to maximise their efficiency."

The Bigtincan share price has been volatile in recent months. It's up 1.85% year to date.

One for the true believers

The most speculative of the three picks is Brainchip Holdings Ltd (ASX: BRN).

The Californian company makes artificial intelligence and machine learning hardware. However, it is still in a pre-revenue stage.

In the past, Brainchip has boasted its technology has attracted interest from clients like NASA and Mercedes Benz Group AG (ETR: MBG).

The stock price has cooled off to the tune of 60% over the past 12 months, presenting a window for those willing to take a punt.

Since the start of last year, the stock has been as high as $1.76, while it closed Monday at 45 cents.

The post Everyone's talking about AI again. Which ASX shares can I buy for exposure? appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:

Bigtincan Holdings Ltd (ASX: BTH)

The Bigtincan share price is up 14% to 57 cents. This morning, the sales enablement platform provider confirmed media speculation that it has received a confidential, non-binding, incomplete and indicative offer from Siris Capital Group. An indicative offer price of $0.80 per share has been tabled.

EBR Systems Inc (ASX: EBR)

The EBR Systems share price is up 9% to 99 cents. Investors have been buying this medical device company's shares after it revealed that its pivotal SOLVE-CRT trial met the primary efficacy and safety endpoints demonstrating statistically significant improvement against benchmarks. The study results showed that patients implanted with its WiSE device saw a 16.4% reduction in heart volume, indicating improved heart function.

Gentrack Group Ltd (ASX: GTK)

The Gentrack share price is rocketing 26% higher to $4.03. This morning, this utilities and airport software solutions provider released its half year results. Gentrack reported a 47.7% increase in revenue to $84.3 million and a profit of $7.9 million. The latter is a big improvement from a $5.8 million loss a year earlier.

New Hope Corporation Limited (ASX: NHC)

The New Hope share price is up 1.5% to $5.20. This has been driven by the release of the coal miner's third-quarter update this morning. For the three months, New Hope reported underlying EBITDA of $448.1 million. This represents an increase of 14.8% compared to the previous quarter and a 20.6% increase compared to the same period last year.

The post Why Bigtincan, EBR, Gentrack, and New Hope shares are storming higher appeared first on The Motley Fool Australia.

The Bigtincan Holdings Ltd (ASX: BTH) share price is on fire today. This ASX All Ords tech share has added a pleasing 16% so far this session, putting the company at 58 cents a share. That's after Bigtincan shares closed at 50 cents each last Friday.

So what's happening with this ASX All Ords share that has enticed investors so decisively today?

Well, Bigtincan put out a rather interesting ASX release this morning which looks like it is responsible for this big jump in value.

All Ords share in takeover fight

In this announcement, Bigtincan revealed that "recent media speculation" has been well-founded, and that the All Ords share has been on the receiving end of a takeover offer. Here's what the company had to say:

In response to recent media speculation Bigtincan confirms that… it has received a confidential, non-binding, incomplete and indicative offer from Siris Capital Group, LLC ("Siris") at an indicative offer price of $0.80 per share (the "Siris Proposal").

Bigtincan's independent board committee ("IBC") does not consider it to be in the best interests of shareholders to progress that Siris Proposal at this time. Bigtincan has received other confidential approaches since that announcement.

The IBC will, with the assistance of its financial and legal advisers, continue to carefully consider any proposals that maximise shareholder value and continue to ensure it remains in compliance with its confidentiality and continuous disclosure obligations. There is no certainty that any such proposals will lead to a transaction.

That's exciting news for shareholders, to be sure. What is likely to be really stoking these fires is the revelation that "Bigtincan has received other confidential approaches since that announcement".

Shareholders tend to love a bidding war and it looks like multiple suitors are interested in a potential takeover.

Share price snapshot

Investors seem to have been speculating that something like that has been going on for a few weeks now.

It was only back on 10 May that Bigtincan shares were going for 41 cents each, down 24% in 2023. But since that day, this ASX All Ords share has rocketed more than 40%, leaving it with a year to date performance of 8.3% right now:

In saying that though, Bigtincan shares still remain down by more than 60% from their 2021 highs of around $1.50 per share.

It certainly looks like this ASX All Ords share will be very interesting to watch for the next few weeks and months. Who knows what might lie in store for Bigtincan going forward?

At the current Bigtincan share price, this ASX All Ords share has a market capitalisation of $350 million.

The post Guess which ASX All Ords share is soaring 16% amid a fresh takeover bid appeared first on The Motley Fool Australia.

Given that SVB had a big presence in the tech sector, a large number of ASX tech shares were customers and had funds in its bank accounts.

With the bank now falling into insolvency, it is unclear what will happen to these funds and what ramifications it will have on their operations and access to capital.

Though, the good news is that no ASX tech shares appear to have put all their eggs in one basket, underlying the importance of diversification and limiting their exposure to this collapse.

Here's a summary of tech shares with SVB exposure:

Bigtincan Holdings Ltd (ASX: BTH)

This sales enablement platform provider revealed that it has no material exposure to SVB.

Life360 Inc (ASX: 360)

This location technology company is a little more complex than others but estimates that its exposure is US$5.6 million. However, Life360 acknowledges that it also has US$75.4 million in shares of money market mutual funds invested in short-term, AAA-rated U.S. Government Treasury and Government Agency securities that are in SVB custodian accounts. It believes that these accounts were not co-mingled with SVB's assets.

Nitro Software Ltd (ASX: NTO)

This document productivity software company has US$12.2 million of its cash reserves held on deposit at SVB. This compares to its cash balance of US$28 million at the end of December. Positively, though, the company revealed that this development has not impacted its takeover approach from Potentia.

Redbubble Ltd (ASX: RBL)

This struggling ecommerce company estimates that its cash exposure to the SVB collapse is $1.3 million. However, it had a first-half closing cash balance of $97 million, so this is immaterial.

Sezzle Inc (ASX: SZL)

This buy now pay later provider had limited exposure to SVB. Just US$1.2 million of its US$68 million was held at the collapsed bank.

Siteminder Ltd (ASX: SDR)

This travel technology joined in on the bank run on Friday and "had success in transferring some of its cash holdings to other banking partners." However, cash holdings of up to A$10 million were not able to be transferred. The company also revealed that it has an undrawn US$20 million revolving credit facility with SVB. Nevertheless, it currently has A$58 million in cash outside SVB to fund its operations.

Xero Limited (ASX: XRO)

This cloud accounting platform provider revealed that its total exposure to SVB is approximately US$5 million. This represents less than 1% of its most recent cash and cash equivalents balance.

Latest development

In the last few minutes, the US government has announced that it will be stepping in.

According to CNBC, depositors at both SVB and Signature Bank in New York, which has also just closed, will have full access to their deposits on Monday.

A joint statement from Fed Chair Jerome Powell, Treasury Secretary Janet Yellen, and FDIC Chair Martin Gruenberg, said:

Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth.

After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.

This news has given Wall Street a major lift and sent US futures hurtling higher.

The post These ASX tech shares have exposure to the Silicon Valley Bank collapse appeared first on The Motley Fool Australia.

Albeit in opposite directions.

The S&P/ASX All Technology Index (ASX: XTX) is down 1.4% following sharp losses posted by tech stocks on the NASDAQ Composite Index on Friday.

But that hasn't deterred investors from bidding up fintech stock Praemium Ltd (ASX: PPS), which was up 11% in earlier trading and remains up 7.12% at the time of writing.

Bigtincan Holdings Ltd (ASX: BTH) isn't receiving the same love today. Shares in the company, which provides an AI-powered, online sales enablement platform, are down 3.77%, having earlier posted losses of more than 8%.

Both ASX tech shares are making these big moves after releasing their half-year results for the six months ending 31 December.

Here's what investors are mulling over.

ASX tech share sinks as losses mount

Kicking off with the earnings results for Bigtincan Holdings, the ASX tech share reported some mixed results for H1 FY23.

On the plus side, revenue from ordinary activities increased 31% from H1 FY22 to $60.2 million.

And annual recurring revenue (ARR) of $130 million represented a record result.

This helped drive a 74% lift in adjusted earnings before income, taxes, depreciation and amortisation (EBITDA) to $2.1 million.

But investors look to be selling off the ASX tech share amid rising costs.

Operating expenses for the half year came in at $70.1 million, up 38% year on year. This saw the company book a loss after income tax of $18.2 million, compared to a loss of $10.5 million in H1 FY22.

That was reflected in a big fall in diluted earnings per share (EPS). That came in at negative 3.97 cents per share, down from negative 2.46 cents per share in the prior corresponding period.

Commenting on the results pressuring the ASX tech share today, Bigtincan CEO David Keane focused on the company's boost in recurring revenues:

We are pleased to deliver another record ARR result in 1H FY23, with the Company continuing to deliver market leading products, win important customer deals, and progressing our commitment to materially improved adjusted EBITDA…

1H FY23 our Multi-Hub strategy continued to benefit the business with Multi-Hub ARR growing from 17% in the previous corresponding period, to 29% of total ARR at the end of 1H FY23.

The company reconfirmed its full-year guidance.

Which brings us to…

Praemium share price lifts on profit growth

The Praemium share price is charging higher post its half-year results.

The ASX tech share reported the divestment of its international operations was completed on 30 June. Its Australian segment is now the company's sole focus.

Investor interest looks to be piqued today by a big lift in statutory net profit after tax (NPAT) to $9.1 million. Revenue of $35.4 million was up 17% year on year.

Praemium also reported record half-year EBITDA of $11.4 million, up 52% from H1 FY22.

Also during the six-month period, the company paid a 5 cents per share, fully franked special dividend on 10 August. And it kicked off a $25 million share buyback, with $6.6 million deployed as at 31 December.

Funds under management on the investment platform grew 6% from 30 June to reach $42.7 billion.

Commenting on the results boosting the ASX tech share today, CEO Anthony Wamsteker said:

The 2023 financial half-year has seen key strategic decisions pay off with increased profitability and enhanced shareholder returns. This result, derived from strong net funds flow, margin expansion and discipline on costs, has delivered a step change improvement in operating leverage.

The post 2 ASX tech shares making massive moves right now on earnings updates appeared first on The Motley Fool Australia.

To say the least.

Atop some company-specific issues, AI companies came under selling pressure as global interest rates shot up from historic lows to combat fast-rising inflation.

That's because ASX AI stocks, like the three we look at below, are priced with future earnings growth in mind. And as interest rates ratchet up, so too does the present cost of investing in those future earnings.

So, after a rough 2022, could 2023 be the year these ASX AI stocks come roaring back?

Tailwinds ahead?

As well as potentially seeing their share prices gain from increasing revenue, stronger forward guidance, or technology improvements within their business models, ASX AI stocks could receive some helpful tailwinds on several fronts.

First, as mentioned, interest rates.

Should inflation in Australia and the developed world cool down, we could see the RBA and other global central banks pause their current tightening cycle and even begin to lower rates. That would offer a welcome boost to growth shares, like ASX AI stocks.

Second, we have ChatGPT and Bard.

You've probably been reading about ChatGPT, or are even making use of it.

ChatGPT is a product of OpenAI, which is largely backed by global tech powerhouse Microsoft Corporation (NASDAQ: MSFT). And it can write essays and text on a wide range of subjects, spurring a huge amount of media attention.

Then there's Bard, a chatbot with similar goals developed by Alphabet (NASDAQ: GOOG), or Google to you and me.

Like ChatGPT, Bard is designed to learn and improve its functionality without intervention from its human creators.

Both systems, backed by trillion-dollar companies, already have impressive capabilities. And as the rivalry between Google and Microsoft in this space heats up, funding and research into ramping up those capabilities is likely to soar.

That, alongside the buzz this is likely to create among investors, could well help ASX AI shares turn their fortunes around in 2023.

How have these three ASX AI stocks been performing?

Among the ASX AI stocks investors can consider is Bigtincan Holdings Ltd (ASX: BTH). The company provides an AI-powered, online sales enablement platform.

The Bigtincan share price, as you can see below, has been on a bit of a rollercoaster over the past 12 months, a ride that's left shares down 38%.

2023 has been tracking somewhat better for the stock, with shares flat in the new year.

The next ASX AI stock in our crosshairs is AI data services company Appen Ltd (ASX: APX).

The Appen share price was a strong performer in 2023. At last close on Friday, shares were up 33% year to date.

A big part of those gains were delivered over the last four trading days of the week just past. That surge looks like it may have been driven by investor exuberance surrounding ChatGPT.

But after the company reported this morning that it expects to recognise a non-cash, pre-tax impairment charge of $204 million, investors are hitting the sell button, sending shares down 13.55% in intraday trading so far.

As you can see in the graph below, the Appen share price is down 66% over 12 months, but still remains up a healthy 15% in 2023.

Which brings us to our third ASX AI share, BrainChip Holdings Ltd (ASX: BRN).

BrainChip is involved in developing neuromorphic computing, a branch of AI that simulates the function of the human neuron.

And like the other two tech stocks above, the BrainChip share price, pictured below, has gotten hammered over the past 12 months, down 58%,

So far, 2023 hasn't been much kinder to shareholders, with the ASX AI share down 18% year to date.

The post Could 2023 be the year these ASX AI stocks come roaring back? appeared first on The Motley Fool Australia.

They're each starting the week off on the right foot, soaring more than 10% today.

Meanwhile, the All Ordinaries Index is up 0.77%, trading at 7,598.3 points.

So, what's driving the All Ords stocks higher today? Let's take a look.

4 ASX All Ordinaries shares leaping more than 10% today

Leading the All Ordinaries today is lithium share Ioneer Ltd (ASX: INR). It's launching 20.22% right now to trade at 54.7 cents a share.

The stock's gains come amid news the company has been offered a US$700 million loan from the United States Department of Energy to help fund the development of its Rhyolite Ridge lithium-boron project in the US state of Nevada.

The project is expected to strengthen the United States' critical mineral supply chain.

Joining the All Ordinaries lithium share in the green today is stock in Kogan.com Ltd (ASX: KGN). Shares in Kogan are up 12.9% right now, swapping hands for $4.55 apiece.

That's despite no news having been released by the online retailer. In fact, there's been no word from the company since CEO Ruslan Kogan said it's on track to return to its "historic growth trajectory and profitability" in November.

The Bigtincan Holdings Ltd (ASX: BTH) share price is also bolstering the All Ordinaries Index today. It's rising 13.59% to trade at 58.5 cents a share.

The artificial intelligence-powered software provider revealed its annual recurring revenue (ARR) surpassed $130 million in the first half of financial year 2023.

And with that, the tech stock remains on track to reach its full-year guidance of $137 million to $143 million of ARR, between $123 million and $128 million of revenue, and positive cash flow and adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA).

The final All Ordinaries share soaring more than 10% today is former market favourite Zip Co Ltd (ASX: ZIP). Shares in the buy now, pay later (BNPL) provider are gaining 10.25% right now to trade at 67.25 cents apiece.

Like Kogan before it, there's been no word from the company to explain today's gains. Though, it's been on a roll so far this year. The stock has jumped 33% since the final close of 2022.

The post 4 ASX All Ordinaries shares surging over 10% on Monday appeared first on The Motley Fool Australia.

While a good number of ASX All Ordinaries shares are pushing higher today, three have been standout performers with particularly strong gains. Here's why these All Ords shares are on fire today:

Australian Ethical Investment Ltd (ASX: AEF)

The Australian Ethical share price is up 8.5% to $4.61. This is despite there being no news out of the ethical fund manager.

Though, with its shares down by two-thirds this year amid weakness in the fund manager industry and increasing competition in ethical investing, some investors may believe they have been oversold and are snapping them up today.

Bigtincan Holdings Ltd (ASX: BTH)

The Bigtincan share price is bouncing back after being sold off in recent sessions. At the time of writing, the sales enablement platform provider's shares are up 7.5% to 57.5 cents.

Investors have been selling down the Bigtincan share price in recent sessions after the company decided to raise capital while still the subject of a takeover approach. The selling had been so strong that even after today's sizeable gain, the company's shares are still trading below the capital raising offer price of 60 cents per new share, which was a 16.7% discount to its share price at the time.

As things stand, its suitor, SQN, hasn't withdrawn its 80 cents per share takeover proposal. Though, it was very unhappy with management's decision to raise capital.

Tyro Payments Ltd (ASX: TYR)

The Tyro share price has rebounded from a selloff on Monday and is up 15% to $1.38. Investors were selling off this payments company's shares yesterday after takeover talks with Potentia and Westpac Banking Corp (ASX: WBC) ended.

And while there are rumours circling that Tyro may need to raise capital soon, that hasn't stopped investors from piling in today. They may believe that there's still hope that an improved takeover proposal could be tabled in future.

The post 3 ASX All Ordinaries shares going gangbusters on Tuesday appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are sinking:

Bigtincan Holdings Ltd (ASX: BTH)

The Bigtincan share price is down a further 6% to 53 cents. This sales enablement platform provider's shares have been smashed in recent sessions after the company's strange decision to raise capital while it is the subject of a takeover approach. Bigtincan raised $30 million at 60 cents per share despite having received an 80 cents per share takeover offer.

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price is down 13% to $4.22. This is despite there being no news out of the heavily shorted infection prevention company. Though, it is worth noting that a major shareholder revealed that it has been selling down its stake. State Street sold over 3.5 million shares last week.

Origin Energy Ltd (ASX: ORG)

The Origin share price is down almost 8% to $7.20. Investors have been selling Origin and other utilities shares in response to news that Prime Minister Anthony Albanese is planning a price cap on domestic coal and gas sales. Energy Minister Chris Bowen said: "It's Australian gas, under Australian soil and Australians should not be paying elevated war prices for that gas."

Tyro Payments Ltd (ASX: TYR)

The Tyro share price is down over 17% to $1.23. This morning Tyro concluded takeover talks with Potentia and Westpac Banking Corp (ASX: WBC) after failing to receive an acceptable offer from either party. Potentia had increased its offer to $1.60 per share, but this was swiftly rejected. Westpac never actually tabled an offer, potentially after realising that its idea of fair value was well short of what Tyro expected.

The post Why Bigtincan, Nanosonics, Origin, and Tyro shares are sinking today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Bigtincan Holdings Ltd (ASX: BTH)

The Bigtincan share price is down 18% to 59 cents. This follows the company's strange decision to raise capital while it is the subject of a takeover approach. Bigtincan has raised $30 million from institutional investors at 60 cents per new share. SQN, which is aiming to acquire Bigtincan for 80 cents per share, described the decision as "value-destructive" for shareholders. Investors appear concerned it could now withdraw its offer.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down 2.5% to $1.15. Investors have been selling this lithium developer's shares this week after it was the subject of a bearish note out of Goldman Sachs. The broker initiated coverage on Core Lithium with a sell rating and $1.00 price target. Goldman is expecting lithium prices to tumble materially from the second half of next year.

Pinnacle Investment Management Group Ltd (ASX: PNI)

The Pinnacle share price is down 4.5% to $8.38. This morning, this investment management company released an update on its performance fees. According to the release, for the 12 months ended 31 December, Pinnacle expects its net share of performance fees from affiliates to be potentially less than $1 million. This compares with $6.4 million for the corresponding period.

Warrego Energy Ltd (ASX: WGO)

The Warrego Energy share price is down 2.5% to 29.75 cents. Investors have been selling this energy explorer's shares after Beach Energy Ltd (ASX: BPT) withdrew from the race to acquire the company. This leaves Hancock Energy in pole position to complete the deal.

The post Why Bigtincan, Core Lithium, Pinnacle, and Warrego shares are dropping today appeared first on The Motley Fool Australia.

In afternoon trade, the sales enablement automation platform provider's shares are down 20% to 57 cents.

Why is this tech share crashing?

Investors have been hitting the sell button today for a couple of reasons.

The first is that this morning the tech share revealed that it has completed a $30 million institutional placement at a 16.7% discount of 60 cents per new share. Bigtincan will also seek to raise a further $5 million from retail investors through a non-underwritten share purchase plan at the same price.

Management advised that the proceeds will be used to execute on identified strategic mergers and acquisitions, future inorganic and organic growth initiatives, and working capital and offer costs.

Takeover in danger of collapsing?

Bizarrely, this capital raising has come despite the company being the subject of a takeover approach from SQN Investors. Last week, SQN tabled an 80 cents cash per share offer, which is still under consideration.

As you might expect, SQN didn't respond positively to the news of the capital raising and believes shareholders are being short-changed. This appears to have sparked fears that it could withdraw its offer if the capital raising goes ahead, which is weighing on the tech share today.

In an open letter, SQN commented:

BTH's decision to pursue this would seem hasty and value-destructive following your receipt of our bona fide acquisition proposal that would offer the Company and its shareholders a significant all-cash premium. We strongly object to this proposed transaction and obviously will not participate in it if it materializes.

To be clear, the Company is on record with its CEO, David Keane, stating on July 27, 2022 that "the company is well funded with its cash balance. Given the cash flow discussion we've had today, the company is not looking to make any new capital raising activities, and there are no acquisitions currently planned." This disclosure is one that we and likely other shareholders have relied upon when making investment decisions.

And then suddenly you would choose to embark on this potentially dilutive and speculative capital raise? We would urge you to instead honor your fiduciary obligations and engage with the various parties that have approached you about a control transaction, including SQN Investors.

The post Why is ASX tech share Bigtincan crashing 20% on Friday? appeared first on The Motley Fool Australia.