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
Debtwire Middle-Market – 5/11/2026
The VanEck BDC Income ETF (BIZD) posted a dividend yield of 13.4% on May 8, up 156 basis points year‑to‑date and 168 basis points versus a year ago. Listed business development companies (BDCs) are trading at an average price‑to‑NAV of 0.81×, with only seven of 45 funds at or above NAV. Credit stress is intensifying as Fitch’s US private‑credit default rate rose to 5.7% in Q1 2026, while the primary‑monitored rating default rate hit a record 10.0%. The deterioration is linked to higher default risk in AI‑exposed middle‑market loans and a surge in redemption requests.
Groundfloor's Consumer Loan Venture Is in a $3 Million Capital Raise
Groundfloor, a platform known for residential transition‑loan securitizations, announced a $3 million capital raise for its Consumer Credit Portfolio II, its first non‑real‑estate private‑credit offering. The product targets accredited investors with a $10,000 minimum and promises a fixed 10% annual return paid...
Two Harbors Rejects UWM's Hostile $12.50 Offer
Two Harbors’ board rejected UWM Holdings’ updated hostile cash offer of $12.50 per share, deeming it not a superior proposal despite being 50 cents above CrossCountry Mortgage’s price. The board highlighted UWM’s high leverage, the unchanged Mizuho financing commitment, and questioned...
Covenant Trends – 5/11/2026
Covenant Trends published its May 11 2026 report on the share of first‑lien institutional loans that cleared key covenant terms. The latest data show a modest slip in covenant compliance compared with the previous quarter, suggesting tightening credit conditions. The release includes...
Working Capital Foundations: Measure of Solvency
The article introduces the accounting definition of working capital as current assets minus current liabilities, a simple metric that gauges an organization’s ability to meet short‑term obligations. Using two balance‑sheet examples, it shows how a $10 million working‑capital surplus can remain...
New Surveys Show AI Gains Are Uneven Across Finance
A KPMG survey of over 1,000 finance leaders and a Progress ShareFile poll of 311 U.S. accountants reveal that AI is now embedded in most finance and accounting workflows, with adoption rates above 70 percent. However, only about a quarter...
Breeze Acquisition Corp. II Raises $125 Million in SPAC IPO to Fund Future Deals
Breeze Acquisition Corp. II priced a 12.5 million‑unit IPO at $10 per unit, generating $125 million of capital for future merger activity. The units, each comprising an ordinary share and a convertible right, will begin trading on Nasdaq on May 13 under the...
Verde AgriTech Announces Q1 2026 Financial and Operating Results
Verde AgriTech reported Q1 2026 revenue of C$1.7 million (≈US$1.2 million), a 41% drop from the prior year, as tighter credit in Brazil forced the company to prioritize high‑quality counterparties over volume. The allowance for expected credit losses fell dramatically to C$0.02 million, and...
American Electric Power Raises $2.6 Billion with $127 Per‑share Common Stock Offering
American Electric Power (AEP) priced a registered underwritten offering of 20.47 million common shares at $127 each, generating roughly $2.6 billion in gross proceeds. The deal, led by BofA Securities, Goldman Sachs and Morgan Stanley, includes forward sale agreements and a 30‑day...
Tonik Becomes Philippines' First Standalone Digital Bank to Reach Sustained Profitability
Tonik Digital Bank posted consolidated positive cash net income for Q1 2026, making it the first standalone digital bank in the Philippines to achieve sustained profitability. The milestone reflects the lender’s credit‑first strategy and signals a shift in how emerging‑market fintechs...
‘Megadeals’ Boosted Credit Market in Q1: KPMG
KPMG’s Q1 2026 credit market report shows leveraged loan issuance rose to $173.3 billion, up from $138.1 billion in the prior quarter but down from $195.1 billion a year earlier. M&A‑backed loans reached $74.6 billion, representing 46% of institutional loan volume and marking the...
Lab Testing Group Intertek to Back £10.6bn Takeover by Swedish Firm EQT
Intertek, the FTSE 100 laboratory testing group, announced it is "minded to recommend" a £60‑a‑share ($77) takeover bid from Swedish private‑equity firm EQT, valuing the company at £10.6 bn ($13.6 bn) including debt. The offer follows three earlier proposals and sparked a 7%...
TSMC to Issue NT$18.4 Billion Green Bonds
Taiwan Semiconductor Manufacturing Co. (TSMC) will issue NT$18.4 billion (approximately US$584 million) of unsecured green bonds to fund eco‑friendly architecture and environmental projects. The issuance consists of a NT$13.7 billion five‑year tranche at a 1.8% coupon and a NT$4.7 billion ten‑year tranche at 1.85%....
PFC Q4 FY26 Profit Rises 11% to ₹6,999 Crore
Power Finance Corporation (PFC) posted a 10.8% year‑on‑year rise in Q4 FY26 profit, reaching ₹6,999 crore (≈ $843 million). The lender’s net worth surpassed the ₹1 lakh crore milestone, now standing at ₹1,02,532 crore (≈ $12.3 billion). FY26 revenue grew 8.4% to ₹1,15,443.61 crore (≈ $13.9 billion) while the full‑year net...
Kyodo News Digest: May 13, 2026
SoftBank Group posted a fiscal 2025 net profit of 5.00 trillion yen ($31.7 billion), the highest ever for a Japanese firm, driven largely by its stake in OpenAI. Nissan Motor reported a fiscal 2025 net loss of 533.10 billion yen ($3.4 billion) despite an...
American Securities Exits CPM Holdings in $2.1 B Sale to Rosebank Industries
American Securities LLC finalized the sale of CPM Holdings, a leader in engineered process equipment, to Rosebank Industries plc for roughly $2.1 billion. The deal caps a eight‑year investment that grew CPM’s renewable‑energy footprint and aftermarket revenue, while giving Rosebank a...
Deutsche Telekom Q1 Profit Drops 28% as Telekom Srbija Raises $2.1 Bn Eurobond
Deutsche Telekom announced a 28.2% fall in Q1 net profit to €2.04 bn ($2.23 bn) but kept its FY26 adjusted EPS outlook and lifted its adjusted EBITDA target. At the same time, Serbia’s Telekom Srbija completed a €1.95 bn ($2.12 bn) eurobond, attracting $13.87 bn...
Fervo Energy Prices Upsized $1.9 B IPO, Targeting $7.4 B Valuation for Geothermal Power
Fervo Energy priced an upsized Nasdaq IPO of 70 million shares at $27 each, raising roughly $1.9 billion and valuing the company at $7.4 billion. The deal, led by JPMorgan, BofA, RBC and Barclays, underscores growing investor confidence in geothermal electricity as a...
JPMorgan Names Three Co‑Heads to Lead Global Investment Banking
JPMorgan Chase announced that Dorothee Blessing, Kevin Foley and Jared Kaye will serve as co‑heads of its global investment banking unit. The move also shifts M&A bankers into industry coverage teams and replaces Anu Aiyengar as global head of M&A,...
Conduent Announces $100M Cost‑Cut Plan and $200M+ Divestiture Proceeds After Q1 Revenue Dip
Conduent (CNDT) posted Q1 2026 revenue of $723 million, down 3.7% YoY, while adjusted EBITDA rose to $49 million. The company unveiled a $100 million cost‑reduction target over 18 months and expects divestiture proceeds north of $200 million, signaling a strategic pivot toward higher‑margin...
BuzzFeed Shares Surge 113% as Allen Family Digital Takes Majority Stake for $120 Million
BuzzFeed’s stock jumped 113% after Allen Family Digital agreed to purchase a 52% controlling stake for $120 million, appointing media entrepreneur Byron Allen as chairman and CEO while founder Jonah Peretti moves to lead BuzzFeed AI. The deal, structured with $20 million...
Isomorphic Labs Raises $2.1 B Series B to Scale AI Drug‑Design Engine
Isomorphic Labs closed a $2.1 billion Series B financing round led by Thrive Capital, with participation from Alphabet, GV, Temasek, CapitalG and the UK Sovereign AI Fund. The capital will be used to scale its IsoDDE AI engine, expand hiring worldwide,...
Altman Defends OpenAI For‑Profit Shift as Musk Sues, Spotlight on $13B Microsoft Backing
OpenAI CEO Sam Altman spent four hours on the stand in Oakland, defending the 2019 conversion of OpenAI from a nonprofit to a for‑profit entity backed by Microsoft’s $13 billion investment. Musk’s lawsuit seeks $150 billion in damages, accusing Altman of misusing...
SpaceX Files Confidential $1.75‑$2 Trillion IPO Paperwork, Eyes June Roadshow
SpaceX has confidentially filed for an initial public offering that could value the Elon Musk‑led firm at $1.75‑$2 trillion. The company plans a roadshow the week of June 8, forcing investors to weigh growth prospects against valuation risk.
Crypto Compliance: The New Banking Capability
Swiss‑born entrepreneur Dennis Wohlfarth founded Cense to give European banks a turnkey way to embed crypto compliance into their core operations. Leveraging a decade of infrastructure, Cense combines automation with human expertise to deliver portfolio‑level analysis of client holdings. The...
The IPO Buzz: GMR Solutions Prices IPO at $15 – Big Price Cut – & Stock Sinks on the...
GMR Solutions priced its initial public offering at $15 per share, a steep cut from the original $22‑$25 range, and sold 31.91 million shares to raise roughly $479 million, valuing the company at about $3.4 billion. The Dallas‑Fort Worth‑based EMS leader opened on...
Brookfield Bancshares to Acquire NSTS Bancorp for $73.7 Million
Brookfield Bancshares announced a definitive agreement to acquire NSTS Bancorp for $73.7 million, paying $14.28 per share—a 12.9% premium to the prior close. NSTS, the holding company of North Shore Trust and Savings, brings $266.6 million in assets and a portfolio of...
Hong Kong Reviews Shift to T+1 Settlement Cycle for Cash Equities Market
Hong Kong is consulting on a shift from T+2 to T+1 settlement for its cash equities market, with comments due by 18 May 2026. The proposal, driven by the Financial Services Secretary and coordinated with the SFC and HKEX, aims to cut...
JD.com Beats Q1 2026 Estimates, Posts 4.9% Revenue Rise and $1 Bn Profit
JD.com announced first‑quarter 2026 results that topped analysts' forecasts, with revenue up 4.9% year‑on‑year and non‑GAAP net profit of RMB 7.4 bn (about $1 bn). The e‑commerce giant also repurchased $631 million of shares, reinforcing its commitment to shareholder returns.
Roche to Acquire PathAI in Up‑to‑$1 B AI Cancer‑Diagnostics Deal
Roche announced on May 1, 2026 that it will acquire U.S. digital‑pathology firm PathAI in a transaction valued at up to $1 billion. The move deepens Roche’s investment in artificial‑intelligence tools for cancer testing and positions the group to compete for...
Vodafone Idea Board to Weigh Fundraise Through Equity After AGR Relief
Vodafone Idea’s board will meet to evaluate a preferential equity or warrant issue after the Indian telecom regulator reduced its adjusted gross revenue (AGR) liability to about ₹64,046 crore (≈ $7.8 bn). The relief, combined with the return of Kumar Mangalam Birla as non‑executive...
The IPO Buzz: Fervo Energy Prices IPO at $27 – $1 Above Range – & Stock Surges on NASDAQ
Fervo Energy priced its IPO at $27 per share, $1 above the top of the indicated range, raising $1.89 billion and valuing the company at about $7.7 billion. The stock surged roughly 35 percent on debut, closing at $36.54. Fervo develops enhanced geothermal...
Apollo to Merge Emerald and Questex in $1.5 B Deal, Forming Top North American Live‑Events Operator
Apollo Global Management announced a $1.5 billion acquisition of Emerald and a merger with Questex, creating a live‑events powerhouse that will run more than 160 trade shows across North America. The deal, which values Emerald at a 42% premium, is slated...
Goldman Sachs Alternatives Acquires FGI Worldwide to Boost Private‑Market Financing
Goldman Sachs Alternatives has finalized the purchase of FGI Worldwide, a 25‑year‑old specialist in working‑capital financing and trade‑credit insurance. The deal places FGI under the leadership of co‑founder Sami Altaher as CEO and gives Goldman Sachs a broader foothold in...
TTEC Halts 401(k) Match for 16,000 Workers to Finance AI Push
Customer‑experience firm TTEC stopped its 401(k) employer match for about 16,000 U.S. employees through 2026, saying the money will be redirected to AI certifications, tools and automation. The move follows similar benefit cuts at Deloitte and Zoom and comes as...
ServiceNow Targets $4 Bn High‑Grade Bond Sale to Refinance Armis Debt
ServiceNow announced a $4 bn high‑grade bond offering to refinance the $4 bn term loan taken for its $7.75 bn purchase of Armis Security. The move, organized by JPMorgan, Wells Fargo, Barclays and Citi, aims to lower interest expense, extend maturities and free...
MDxHealth SA (MDXH) Q1 2026 Earnings Call Transcript
MDxHealth announced the discontinuation of its Resolve UTI test and associated Texas lab after a $10.4 million recoupment demand from Medicare contractor Novitas, shifting all resources to its prostate cancer portfolio. Pro forma revenue from core prostate diagnostics rose 11%...
Talphera Inc (TLPH) Q1 2026 Earnings Call Transcript
Talphera reported a $21.1 million cash balance and closed a $4.1 million financing tranche, with two additional conditional tranches of $16 million tied to study milestones. The nephro CRRT trial has surpassed the 50% enrollment target and is on track for full enrollment...
Fluent Inc (FLNT) Q1 2026 Earnings Call Transcript
Fluent Inc. reported total Q3 2025 revenue of $47 million, a 27% decline driven by a 52% drop in its owned‑and‑operated segment. Commerce Media Solutions (CMS) surged 81% year‑over‑year to $18.8 million, representing 40% of revenue and pushing its annual run rate...
FLEX LNG Ltd (FLNG) Q1 2026 Earnings Call Transcript
Flex LNG reported Q1 2026 revenue of $87.5 million and full‑year revenue of $340 million, with adjusted EBITDA of $251 million and adjusted net income of $23.3 million. The company maintained a robust cash balance of $448 million and declared its eighteenth consecutive $0.75‑per‑share dividend,...
Team Inc (TISI) Q1 2026 Earnings Call Transcript
Team Inc. (TISI) closed a March 2025 refinancing that trimmed its blended interest rate by more than 100 basis points and pushed term‑loan maturities out to 2030, bolstering liquidity. The Inspection & Heat Treating segment drove revenue up 6.8% YoY...
Spruce Power Holding Corp (SPRU) Q1 2026 Earnings Call Transcript
Spruce Power Holding Corp reported Q1 2026 revenue of $72.8 million, missing its $80 million guidance by 9%, and posted a non‑GAAP operating loss of $12.9 million driven by a one‑time $9.9 million expense. The company cut 115 jobs after hiring 86 in the...
MicroVision Inc (MVIS) Q1 2026 Earnings Call Transcript
MicroVision reported a steep revenue decline to $1.2 million for the year, far below the $4.7 million earned previously, as legacy agricultural contracts wound down. The company issued $43 million of senior secured convertible notes and retains $74.8 million in cash plus...
Jack in the Box Inc (JACK) Q2 2026 Earnings Call Transcript
Jack in the Box reported a 3.8% decline in same‑store sales for Q2 2026, with franchise locations down 3.9% and company‑owned units down 2.8%. Restaurant margin slipped to 16.4% from 19.6% as commodity inflation, higher labor costs and sales deleverage eroded...
Ucloudlink Group Inc (UCL) Q1 2026 Earnings Call Transcript
UCloudlink reported Q1 2025 revenue of $18.6 million, a modest 3.4% year‑over‑year increase, while service gross margin slipped to 57.3% from 65% a year earlier. Operating expenses rose to $9.9 million, pushing operating cash inflow down to $0.2 million and adjusted EBITDA to...
Paysafe Ltd (PSFE) Q1 2026 Earnings Call Transcript
Paysafe Ltd reported full‑year 2025 revenue of $1.7 billion, delivering 6% organic growth despite a divested business line. Digital‑wallet consumers rose to 7.8 million, the highest in three years, while the Vitality Index reached 16% of revenue, underscoring new‑product momentum. Unlevered free...
Copa Holdings SA (CPA) Q1 2026 Earnings Call Transcript
Copa Holdings reported Q1 2026 net profit of $172.6 million, or $4.18 per share, a 5.3% earnings increase. Operating margin stood at 21.8% (22.5% excluding a $7.2 million non‑cash lease adjustment) while capacity grew 9.9% year‑over‑year, pushing load factor to 86.4%. The...
Teekay Tankers Ltd (TNK) Q1 2026 Earnings Call Transcript
Teekay Tankers posted a strong Q1 2026, reporting GAAP net income of $120 million ($3.47 per share) and adjusted earnings of $97 million ($2.80 per share). The full‑year 2025 results showed $351 million GAAP net income, $241 million adjusted profit and $100 million in realized...
Longeveron Inc (LGVN) Q1 2026 Earnings Call Transcript
Longeveron secured a $15.9 million private placement, with an optional $15 million milestone tranche, extending its cash runway to the fourth quarter of 2026. The company posted a $22.7 million net loss for 2025, driven by higher personnel, CMC and severance expenses, while...
CaliberCos Inc (CWD) Q1 2026 Earnings Call Transcript
CaliberCos Inc. announced the launch of a digital asset treasury anchored on Chainlink's LINK token, positioning itself as the first and largest U.S. public company with a LINK‑based treasury. The company raised over $30 million through preferred and common equity, flipping...