Today's Finance Pulse
SpaceX files for record‑size IPO, targeting $50B‑plus raise and $1T valuation
SpaceX confidentially filed for an IPO slated for June 2026, aiming to raise at least $50 billion and push its valuation above $1 trillion. Founder Elon Musk holds roughly 44 percent of the company, giving him a net worth of about $823 billion. The filing positions the rocket and satellite maker among the most valuable public companies ever.
Also developing:
By the numbers: Berkshire Hathaway invests $10B in Alphabet's private placement
Proposed Paramount‑Warner Bros. Discovery Merger Faces Antitrust Scrutiny Over $79 B Debt Load
Paramount Global and Warner Bros. Discovery are pursuing a merger that would combine two of Hollywood’s biggest studios under a $79 billion debt burden. Analysts warn the deal could trigger antitrust action, massive layoffs and price hikes for consumers, while the companies argue scale is needed for the streaming era.
Parker‑Hannifin to Buy KKR‑Owned Circor Aerospace for $2.55 B
Parker‑Hannifin announced a definitive agreement to purchase the aerospace division of Circor International from KKR for $2.55 billion. The cash‑free, debt‑free transaction values Circor Aerospace at roughly 22.7 times 2026 EBITDA and is slated to close in the second half of 2026,...
Pershing Square Signals Intent to Bid for Universal Music Group, Raising Catalog Valuation Questions
Bill Ackman's Pershing Square is preparing to submit a takeover bid for Universal Music Group, the world’s largest music label. The move could force a reassessment of catalog values and shift power dynamics for artists, investors, and fans.
JPMorgan Warns Colombia Will Need $54 Bn of Sovereign Debt in 2026
JPMorgan’s latest report warns that Colombia’s incoming government will have to raise about $54 bn in sovereign bonds in 2026 – roughly 10% of GDP – to cover a projected $6 bn financing shortfall. The forecast comes amid weaker tax collections, a...
Xanadu Establishes a Synthetic At-the-Market Equity Facility to Raise up to $300 Million
Xanadu Quantum Technologies announced a synthetic at‑the‑market (ATM) equity facility that permits the company to raise up to $300 million through private placements of Class B subordinate voting shares over the next three years. The program is administered with Yorkville Advisors, giving...
CVC and GBL Unveil €10.7 Bn Take‑Private Offer for Recordati
CVC Capital Partners and Groupe Bruxelles Lambert have submitted a €51.29‑per‑share, €10.7 bn all‑cash tender offer to acquire Recordati SpA and delist it from Euronext Milan. Backed by sovereign‑wealth and pension investors, the bid carries a roughly 13% premium and hinges...
SpaceX Files for U.S. IPO, Banks Line up for Blockbuster Offering
SpaceX submitted an IPO registration to the SEC on May 20, seeking a Nasdaq listing under SPCX. The offering is being underwritten by a syndicate that includes Goldman Sachs, Morgan Stanley, BofA Securities and others. The filing comes as the...
Embracer Founder Frames 2023 Restructuring as Lifeline for Remaining Studios
Embracer Group’s founder and chair Lars Wingefors told shareholders that the 2023 “large adjustment” was designed to let a select group of studios and IPs prove themselves, not a blunt US‑style layoff. The comment comes as the conglomerate splits into Embracer...
Bitcoin‑Backed Loans Enter Mainstream Cost‑of‑Capital Debate with 5.5% Fixed Rate
Psalion’s VP of the Americas, Alec Beckman, announced a 5.5% fixed‑rate Bitcoin‑backed loan product with up to 60% loan‑to‑value, positioning crypto collateral alongside traditional debt instruments. The move highlights growing demand from advisors and borrowers to treat Bitcoin as a viable...
Emirates NBD to Launch Open Offer for 26% Stake in RBL Bank From June 1
Dubai‑based Emirates NBD will launch an open offer on June 1 to buy up to a 26% stake in India’s RBL Bank at ₹282.38 ($3.40) per share, a roughly 15% discount to the market price. The tender period runs until June 12,...
Layered Moats Turn Boring Niches Into Billion‑Dollar Exits
Novaria Group and its $2.2B exit playbook: Make 27 acquisitions and build a roll-up platform around high-mix, low-volume, low-relevant-cost products... Add a “layer cake of protections” around process IP, explicit IP, daily discipline, and unit economics. A true moat in an aerospace and...
CFOs Face Tricky Tariff Refund Questions as Process Gains Steam
The U.S. Customs and Border Protection tariff‑refund portal, launched on April 20, has already processed $35.46 billion—including interest—and validated more than 15 million entries, far outpacing early expectations. Refunds are flowing to both large multinationals and smaller firms, prompting CFOs to grapple with...
Activists Push SEER Liquidation Using Company Cash, Board Resists
$SEER proxy war is officially on. Friendly resolution is off the table. Radoff group nominating 3 directors for the 2026 AGM. Latest $2.40/share cash plus CVR offer rejected again. Board claims it undervalues the company relative to its own cash pile. Management...
Zacks Small-Cap Research Raises FatPipe (NASDAQ:FATN) Valuation From $6.00 to $6.40 per Share Following Preliminary Fiscal Fourth Quarter Business Update
FatPipe Inc. (NASDAQ:FATN) announced that Zacks Small‑Cap Research raised its target price from $6.00 to $6.40 per share. The adjustment follows FatPipe’s strong fiscal fourth‑quarter results, higher revenue and earnings estimates, and progress in closing larger customer deals. CEO Dr....
EDP Prices €750m European Green Bond Due 2033
Portuguese utility EDP has priced a €750 million ($870 million) senior European green bond that will mature in March 2033. The issuance was executed through its subsidiary EDP – Servicios Financieros España. Proceeds are earmarked for renewable energy and other sustainable projects across the group....
Post Oak Group Reports Middle Market Emerging as the Strong Segment of 2026 M&A
Post Oak Group, named Texas' top middle‑market investment bank, says the middle market has become the strongest segment of 2026 M&A activity. A narrowing bid‑ask spread, abundant private‑equity dry powder and aggressive family‑office participation are driving a surge in deals...
FortuneX Acquisition Prices $75 M IPO at $10 per Unit, Securing Funds for Future Deals
FortuneX Acquisition Corp. (FXACU) priced its initial public offering of 7.5 million units at $10 each, generating $75 million in gross proceeds. The filing also gives underwriters a 45‑day option to buy up to 1.13 million additional units, potentially adding $11.3 million to the...
FASB and the SEC Want More Disclosures on These Topics
At the Baruch College Financial Reporting Conference, the FASB announced new disclosure requirements for cash equivalents, extending to digital assets such as Bitcoin and stablecoins. The board also highlighted the upcoming Disaggregation of Income Statement Expenses (DICE) standards, which will...
DoiT Unveils PerfectScale for Commitments, AI‑Powered Cloud Cost Optimization
DoiT announced the general availability of PerfectScale for Commitments, an AI‑driven platform that continuously optimizes Savings Plans, Database Savings Plans and Committed Use Discounts on AWS and Google Cloud. The service, built on the company’s Cloud Intelligence™ stack, promises performance‑based...
Climeworks Hires Veteran CFO Stéphan Truchot to Steer $1.1 Bn Financing Push
Climeworks announced that Stéphan Truchot will become chief financial officer on June 1, 2026, bringing a 25‑year finance pedigree that includes a €300 million equity raise and €750 million of debt financing at Amarenco. The hire signals the Swiss carbon‑removal firm’s push to...
Ep. 198 - How to Make Your SaaS Company More Fundable
In this episode, host Jason Myers talks with Anthony Nitsos, founder of SaaS Gurus, about turning financial operations into a strategic asset for SaaS founders. Nitsos explains the difference between accounting (backward‑looking) and strategic finance (forward‑looking) and why founders often...
SteelAsia Secures P1.25 Billion Loan for Green Initiatives
SteelAsia Manufacturing Corp. secured a roughly $22.5 million green loan from Taiwan’s Cathay United Bank to fund its electric‑arc‑furnace (EAF) expansion and other low‑carbon initiatives. The loan, the first under SteelAsia’s Sustainable Finance Framework, supports working capital for green steel production...
Catastrophe Bond Issuance in H1 2026 Now Projected at $16.3bn, Could Rise Further
Catastrophe bond issuance in the first half of 2026 is projected to reach $16.3 bn, up from the $14.4 bn already settled. The market has seen 60 completed transactions and a pipeline of 12 more, with property cat bonds accounting for $13.72 bn...
Rocket Lab Launches $3 B At‑The‑Market Share Sale, Stock Slides 6.6%
Rocket Lab filed an 8‑K on May 20 authorizing a $3 billion at‑the‑market equity distribution, prompting a 6.6% pre‑market decline in its shares. The offering is being sold by a 16‑bank syndicate that includes Goldman Sachs, Morgan Stanley and Deutsche Bank,...
Keppel Calls Off Sale of M1 Limited After Regulatory Hurdle
Keppel Limited announced the termination of its proposed sale of M1 Limited after the Infocomm Media Development Authority of Singapore did not grant the required approvals by the extended deadline. The company said the deal’s collapse will not materially affect...
EnWave Reports 2026 Second Quarter Consolidated Interim Financial Results
EnWave Corp reported a sharp drop in Q2 2026 revenue, down 69% year‑over‑year to CAD 1.16 million (≈US $860 k). While gross margin improved to 35% thanks to lower fabrication costs, the company posted an adjusted EBITDA loss of CAD 775 k (≈US $570 k), widening from a modest...
Info Edge Reports over Rs 8,000 Cr Q4 Valuation Hit on Eternal, PB Fintech Holdings
Info Edge reported massive valuation swings in its venture holdings during FY26, with an unrealized loss of about $708 million on Eternal (formerly Zomato) and $275 million on PB Fintech in Q4 alone, totaling over Rs 8,000 crore (~$960 million) of write‑downs. The year was...
Weekly Roundup: May 15-21, 2026
The Harvard Law School Forum’s May 15‑21 roundup highlights a flurry of SEC initiatives, including optional semiannual Form 10‑S reporting and a new framework for half‑year disclosures. A federal court order signals a broader interpretation of Rule 14a‑8, potentially reshaping shareholder proposal practices....
BIG Fiber Raises $250M in Funding Led by Stonepeak
Metro dark‑fiber provider BIG Fiber closed a $250 million debt facility, led by Stonepeak Credit and La Caisse, with a $100 million accordion that lifts total borrowing capacity to $350 million. The capital will fund a multi‑market build‑out, dedicating up to 70 % of...
Ryan Cohen: The Rebel GameStop CEO with His Sights on eBay
Ryan Cohen, the activist‑turned‑CEO of GameStop, launched a $56 billion hostile bid for eBay, calling the online retailer "literally obese" and vowing not to accept a rejection. GameStop, valued at roughly $11 billion, faces a massive financing gap to fund the $47 billion‑valued...
Canadian and Foreign Investors Both Pull Back From Securities Markets in March
In March 2026 foreign investors poured only about $3.4 billion USD into Canadian securities, the lowest level since January, and the inflow was almost entirely debt‑focused. At the same time, Canadian investors sharply cut purchases of foreign assets to $2.9 billion USD,...
AI Audits Reveal Real Errors, but Also Hallucinate
I used AI to double check my annual closing statements of my company - fed it bank statements, accounting statements etc, parallel to my accountant going thru it as well. It found some good stuff, but also hallucinated a bunch of...
Google Commits $190 B to AI, Says CFO Ruth Porat at I/O
At the I/O developer conference, Google president and chief investment officer Ruth Porat detailed a $190 billion AI budget for 2026, allocating roughly 40% to data‑center expansion and 60% to custom chips. The pledge underscores a full‑stack strategy that CTOs must...
ESENTIA Secures $2 Billion Investment‑Grade Bond Offering, Triple‑Agency Rating
ESENTIA Energy Development closed a $2 billion senior unsecured 144A/Reg S bond offering, oversubscribed 4.5 times and rated investment‑grade by Moody's, S&P and Fitch. The proceeds retire $2.1 billion of project debt and fund a new $600 million revolving credit facility, marking the Mexican...
Boeing Lands 200‑plane China Order, Shares Tumble Nearly 5% as Investors Balk
Boeing confirmed a 200‑aircraft purchase from China, its first major sale to the market in almost a decade. The announcement sent the stock down 4.7% on the day of the reveal and a further 1.4% overnight, as investors had expected...
Lenders Line up to Finance Eni CCS Projects
Eni announced that 13 international banks have pledged roughly $640 million (£500 million) to finance its carbon capture and storage (CCS) venture. The funding backs projects such as the Liverpool Bay CCS plant in the UK and other European initiatives. Led by...
State of Distressed: Mudrick on the Post-LME Maturity Wall
In this episode of State of Distress, Bloomberg Intelligence’s Phil Brendel and Nagisa Bluku interview Jason Mudrick of Mudrick Capital, a $3 billion distressed‑credit firm. Mudrick explains how liability‑management transactions (LMEs) have evolved from rare, aggressive deals to a more structured,...
Orion Hails “Visibility” As SA Investors Join $15.4m Capital Raise
Orion Minerals completed a $15.4 million share placement, issuing 698 million shares at an average price of A$0.022 (26 cents SA). South African investors contributed roughly $5 million, underscoring growing local confidence after the Copper 360 slump. The proceeds will fund the Uppers Project and...
SFR Takeover Deal 'Uncertain' – Iliad CEO
Iliad CEO Xavier Reynaud said the proposed €20.35 billion ($22.2 billion) takeover of Altice’s SFR remains uncertain, with the exclusivity period now extended to 5 June 2026. The bid, backed by Orange, Bouygues Telecom and Iliad, follows a missed May deadline and reflects valuation...
Massachusetts MPIUA Returns for $150m Mayflower Re 2026 Catastrophe Bond
The Massachusetts Property Insurance Underwriting Association (MPIUA) is re‑entering the catastrophe‑bond market with a new Mayflower Re Ltd. Series 2026‑1 issuance targeting at least $150 million of multi‑peril aggregate reinsurance. The deal will consist of two $75 million tranches, Class A and Class B, backed...
Advent, FedEx, A&R & PPF Launch €7.8bn All-Cash Offer for InPost
Advent International, together with FedEx, A&R Capital and PPF Group, has launched an all‑cash bid of €7.8 billion (about $8.5 billion) to acquire InPost, the Polish‑based parcel‑locker and last‑mile delivery specialist. The offer values InPost at a premium to its current market...
‘It’s Crazy’: SpaceX Could Set Records as the Least Shareholder-Friendly Public Company of All Time
SpaceX filed an S‑1 for an $80 billion IPO that would value the company at roughly $1.5 trillion, setting a record for size. The prospectus reveals a dual‑class share structure that grants Elon Musk 79% of voting power while he holds only...
American Express (AXP): Our Calculation of Intrinsic Value
American Express (AXP) was valued using a discounted cash flow model that projects free cash flow growing to $18.9 billion by 2030. With an 8% discount rate and 3% terminal growth, the model yields an enterprise value of $331.6 billion and an...
SpaceX's $80B War Chest Enables Rapid Revenue Surge
If SpaceX is valued at $1.5T on $20b revenue run rate, which increases to $32b with the Anthropic data center leases, then its valued at 46x revenues Cursors is doing $3b in revenue and with its $60b acquisition of 20x revenues,...
AI Reshapes Finance, Not Replaces FP&A Teams
#agenticai won’t replace #FPAteams, but it’s changing how finance works. At this FP&A Trends Webinar, finance practitioners from TMF Group, Clyde & Co, and CCH Tagetik shared how FP&A roles are evolving and how FP&A teams can prepare today: https://t.co/iSpENRlX7j #aiinfinance
Volvo Group, Eicher Form India Financing Venture
Volvo Financial Services and Eicher Motors will create a 50:50 joint venture to offer financing, leasing and related services to commercial‑vehicle customers in India. VFS India will issue new shares to Eicher in exchange for up to INR 7.5 bn (≈US$75 m) equity....
Kennedy Wilson Prices $1.8 Billion Senior Notes to Fund Merger and Debt Repayment
Kennedy Wilson priced a $1.8 billion senior notes offering—$1.1 bn at 7.00% due 2031 and $700 m at 7.25% due 2033—aimed at redeeming existing debt, supporting a pending merger, and bolstering its credit facility. The transaction, structured under Rule 144A and Regulation S, underscores active...
OpenAI to File Confidential IPO Docs by May 22, Targets September Listing
OpenAI is preparing to confidentially submit its IPO application to the U.S. SEC as early as May 22, with a September market debut in view. The filing puts the AI firm on a fast track to become a large‑cap contender...
Gibson Dunn and Davis Polk Land Key Roles in SpaceX’s $2 Trillion IPO
Gibson Dunn is advising SpaceX on its planned $2 trillion initial public offering, the largest ever, while Davis Polk is steering the underwriting banks. The deals highlight the firms’ deepening involvement in private‑space finance and set a new benchmark for capital‑markets...
Fuji Electric India Appoints S U Rajlakshmi as CFO, Boosting Finance Leadership
Fuji Electric India announced that S U Rajlakshmi will serve as its new chief financial officer. The veteran finance executive arrives with experience overseeing a $200 million captive centre at Hitachi Energy and a track record of financial transformation across industrial technology firms....