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Small-Cap Snapshot: SAExploration receives court approval to purchase Geokinetics’ assets

The assets listed in the agreement include machinery, seismic processing software and other equipment
The deal also includes certain contracts with exploration and production companies

SAExploration Holdings Inc (NASDAQ:SAEX) was a top gainer in the small-cap space. The energy company has been given the green light to proceed with the asset acquisition of Geokinetics Inc. The assets listed in the agreement include machinery, seismic processing software and other equipment. Certain contracts with exploration and production companies are also a part of the deal. Shares of the Texas-based company were up nearly 50% to US$2.49 in Friday morning trading.

Limelight Networks Inc (NASDAQ:LLNW) reported better-than-expected second-quarter results. The content delivery network surpassed analyst estimates on revenue and earnings, reporting fourth-consecutive quarter growth with an 11% revenue gain year-over-year. The Arizona-based company upped its yearly revenue guidance to a range of US$200mln to US$203mln from its previous guidance of US$198mln to US$202mln. Shares were up more than 10% to US$5.18.

READ: Dolphin Entertainment shares surge after signing famous faces and boosting revenue in its first quarter

Two of the top decliners of the day saw shares fall after news of a public offering.

Dolphin Entertainment Inc (NASDAQ:DLPN) will offer 2 million shares of its common stock priced at US$3 each. The digital content producer intends to use the US$6mln raised for general corporate purposes, including working capital. The content creator is also the parent company of 42West, a public relations and marketing services firm. Shares were down nearly 14% to US$3.04.

Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) also announced a public offering. The biotech will offer more than 4 million shares of its common stock priced at US$8 each. The US$32.5mln raised will go to the clinical development of its drug ZYN002. The cannabidiol treatment is being developed for patients with focal seizures. Shares of the Pennsylvania-based company fell nearly 30% to US$7.56.

The Russell 2000 small-cap index was down slightly in Friday morning trading.

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