ProLogium Solid‑state Battery Deal Valued at $3.8B
ProLogium / Translational Development Acquisition deal overview Manufacturer of next-generation solid-state batteries $3.8 billion valuation Symbol $PRLG Closing H2 2026 PR: https://t.co/pdqgAGB3sv IR deck: https://t.co/fsLdbLN3bz Disclosure: Long $TDAC in $ARB.to https://t.co/3POfP6JeTj
NewHold Secures $2.3B Valuation for AMR IPO
newcleo / NewHold Investment III deal overview Advanced modular reactor (“AMR”) technology and nuclear fuel manufacturing $2.3 billion valuation $220 million IPO Symbol $NWCL Closing H2 2026 PR: https://t.co/cc7RFoVifG IR deck: https://t.co/eACCX5UFF3 Long $NHIC in $ARB.to https://t.co/lTLGkvjgfZ
SpaceX S‑1 Files at 107× Revenue, S&P’s Costliest Stock
SpaceX S-1 has been filed LTM revenue of $18.7 billion with a 33.2% growth rate EBIT loss of -$2.6 billion Net loss of -$5 billion At a $2 trillion valuation, will be trading at a 107x LTM revenue multiple If added to the S&P 500,...
Cut Sleep, Gain 1,000 Hours Yearly
Productivity hack: Instead of sleeping 8-9 hours per night, instead sleep 5-6. This results in an extra 21 hours of productive time per week, and more than 1,000+ hours per year in which you can outwork your competitors. Follow me for more life...
Cliffwater Borrows $8.5M, Shows No Distress
Not only is Cliffwater one of the largest private credit fund providers, it is also a private credit borrower. As of Q1, Cliffwater (the GP) has an $8.5 million first lien loan valued at 99. Despite the recent negative media headlines,...
Blue Owl Cashes $117M on SpaceX, Retains 1.7% Stake
Blue Owl sold half of its SpaceX shares in Q1, banking a $117.3 million gain in its Technology Finance private credit fund $OTF It now holds 250k SpaceX shares worth $133 million (1.7% of NAV), an 11-bagger from cost https://t.co/d3kVv11EEc
Starlink Pricing Tomorrow, but Not the Expected Service
Starlink will price tomorrow to officially IPO on Friday. Unfortunately, it is not the Starlink that most were hoping for. https://t.co/bU2RJ3QXQp
Spanx Loan Devaluation Signals Trouble for Blackstone Stake
It appears that shapewear company Spanx is now in distress, as its private credit loan was just marked down to 70 cents on the dollar. As a reminder, Blackstone acquired a majority stake in the company in 2021 at a...
Zero‑probability Odds Rise with T‑bill Yields
While we should all hope for the return of the Lord and Savior, unfortunately, rising "odds" only reflect an increase in T-bill yields. Zero probability events should trade in line with the risk free rate + a platform and liquidity risk...
Future‑Proof Portfolios with Thematic, Yield & Alternative Strategies
Looking forward to speaking about Using Thematic, Yield, and Alternative Strategies to Future-Proof Client Portfolios at the ETF Exchange lunch & learn in Ottawa May 13th. If you're an Ottawa-based PM or advisor, be sure to register or reach out to...
SPAC IPO Frenzy Stalls: Poor Performance, Few Deals
The recent deluge of SPAC IPOs is a baffling because: 1. They haven't traded well (see below) 2. There's been a lack of merger announcements (particularly high quality deals) 3. Despite the surge in speculative stocks last month, most SPACs are stuck in...
Spirit Faces Shutdown After Judge Blocks JetBlue Deal
Inspired: U.S. District Judge William Young famously wrote "To those dedicated customers of Spirit, this one's for you" in his January 2024 ruling blocking JetBlue’s $3.8 billion acquisition of Spirit Airlines. Now Spirit is preparing to cease operations.
Rate Cuts Done, Fed May Hike by 2027
The interest rate cutting cycle is officially over. With previously forecast rate cuts off the table, the market is now pricing in 50% odds the Fed will hike rates by April 2027. Position accordingly. https://t.co/LBGUwo4wXJ
Wall Street Rushes to Price Multiple SPAC
Nobody: ... Absolutely no one: ... Not a single soul on this earth: ... Wall Street: We are pricing 5 SPAC IPOs tonight to trade tomorrow https://t.co/VAE2q5HX5s
PE Investors Chase Smoothed Volatility, Not Real Returns
Back in 2019 I launched a private equity replication ETF, which provided PE returns in a liquid vehicle. After hundreds of meetings with allocators, I concluded that the primary reason they allocate to PE is the mark-to-model and smoothed volatility. The product...