💥New Chapter 11 Bankruptcy Filing - Impac Mortgage Holdings, Inc.💥
Impac Mortgage Holdings and eleven affiliates filed a prepackaged Chapter 11 case in the District of Delaware on April 26, 2026 after years of strategic pivots and a steep headcount decline to 18 employees. The restructuring is driven by primary creditor Hildene Re SPC, Ltd., which will exchange its $76.4 million junior notes and a $24 million senior loan for 100% of the reorganized company’s equity. A $5 million DIP loan at 12% interest, including $3 million of new capital, will fund the bankruptcy. The plan seeks court confirmation by June 10 and emergence by June 25, 2026, with post‑petition revenue projected at $162 k against $884 k operating costs.
Saltbox Raises Series C Led by Packard Capital to Fund National Expansion and Entry Into Chicago Market
Saltbox, a startup that combines flexible warehouse space, logistics infrastructure, co‑working amenities, and on‑site operational support, closed a Series C round led by Packard Capital. The capital will finance the company’s national expansion, including a third Atlanta‑area hub in Chamblee that...
🚗 Uber ($UBER) Deep Dive
Uber’s latest quarter shattered the long‑standing perception that rapid growth can’t coexist with profit. Trips, active riders, and its subscription‑based Uber One program all posted double‑digit gains, while adjusted EBITDA turned positive and scaled faster than revenue. The earnings beat...
$LBTYK: Can Liberty Global Finally Spin to Win? | Stock Spin-Off Investing's Rich Howe
Rich Howe of Stock Spin‑Off Investing argues that Liberty Global (LBTYK) is cheap on a sum‑of‑parts basis and stands to unlock value through an imminent Ziggo spin‑off and a little‑known venture portfolio. He contends the spin will crystallize cash‑flow and...
Are We Still ‘Late’ Cycle? Crypto, Bonds, and the US$600bn Fed Pivot
Crypto prices surged in recent weeks, driven largely by a quiet $600 bn liquidity injection from the U.S. Federal Reserve and Treasury that began in October. The authors remain bullish on Bitcoin and Ethereum as long‑term inflation hedges, but note that...
Gevo (GEVO) Withdraws From DOE Loan Program to Pursue Strategic Project Financing
Gevo announced on April 15 that it is withdrawing from the U.S. Department of Energy’s loan‑guarantee process for its Alcohol‑to‑Jet (ATJ‑30) plant after the DOE’s enhanced‑oil‑recovery requirement proved commercially unviable. The company will instead seek private financing that better fits...
Calm Spreads, a Re-Steepening Curve, and the Credit-Rotation Setup Most Investors Ignore (JOJO)
High‑yield credit spreads remain tightly compressed, with the ICE BofA US High Yield OAS at 2.78% and BB spreads at 1.70% as of early May 2026. The Treasury curve has re‑steepened, posting a +0.50% 10‑year‑minus‑2‑year spread, while inflation stays above...
MTT Shipping Makes Its Bursa Malaysia Debut
MTT Shipping and Logistics Bhd debuted on Bursa Malaysia’s Main Market in late April 2026, raising MYR 652.5 million (≈ USD 165 million) at MYR 1.03 per share. The IPO values the domestic carrier at roughly MYR 2.6 billion (≈ USD 658 million) and adds a publicly‑traded status to its...
Google’s Free Cash Flow Will Hit Zero Next Year
Alphabet posted $73.3 bn of free cash flow in FY2025, but CEO Sundar Pichai guided 2026 capital expenditures of $175‑$185 bn, essentially matching the company’s operating cash. The capex trajectory has accelerated from $32.3 bn in 2023 to $91.4 bn in 2025, with Q4...
Stardust Power (SDST) Secures a $150 Million Framework for Its Oklahoma Lithium Refinery
Stardust Power Inc. signed a non‑binding LOI with an institutional investor to provide up to $150 million of project‑level financing for its planned lithium refinery in Muskogee, Oklahoma. The flexible structure can be deployed as equity, debt or hybrid instruments and...
Why Are Hedge Fund Managers Always Bearish?
Hedge‑fund legends such as Ray Dalio and Paul Tudor Jones routinely issue bearish market calls, warning of overvaluation and potential crises. Their forecasts stem from a trader‑centric mindset that emphasizes risk control and short‑term alpha rather than long‑term buy‑and‑hold investing. Despite...
Accelerate Your Analysis with Expert-Built Worksheets in WSL
Bloomberg’s latest Pro Tips episode demonstrates how the Windows Subsystem for Linux (WSL) tool lets analysts build worksheets directly in the Bloomberg Terminal. By leveraging a library of hundreds of customizable templates, users can create, edit, and run financial models...
EP261: Maximizing Your Business Exit: 6 Key Buyer Checks
Episode 261 of the High Voltage Business Builders Podcast reveals why Amazon sellers receive vastly different exit offers despite similar revenues. Host Neil Twa contrasts a seller who secured a $1.8 million, 4.5× EBITDA deal with another who only earned a...
Chapter 11 Bankruptcy Filings Increase 42%
April 2026 recorded 644 commercial Chapter 11 bankruptcy filings, a 42% year‑over‑year increase, according to the American Bankruptcy Institute. Small businesses accounted for 301 of those filings, up 46% from a year earlier, while total commercial filings—including other bankruptcy types—rose 21%...
RAVE Q3 '26: Windshield vs Rearview Mirror
Rave Restaurant Group posted Q3 FY2026 results showing 8.7% year‑over‑year revenue growth, driven by Pizza Inn’s 2.3% same‑store sales increase despite adverse weather. The balance sheet remains strong, with net cash rising to $12 million and zero financial debt. Management signals an...
Funding Friday: Robots Want Fast-Charging Batteries
Cambridge‑based Nyobolt announced a $60 million Series C round that lifts its valuation to $1 billion, driven by ultra‑fast‑charging batteries that can reach 80 percent charge in under five minutes. The company is targeting data‑center and robotics customers, leveraging its niobium‑tungsten‑oxide anode for higher...
Bye the Index
Nasdaq launched the QQQ ETF in 1999, quickly amassing $12 billion in assets and becoming a cornerstone of passive investing. A partnership with Invesco expanded distribution, allowing the fund to grow to $456 billion in net assets, the fifth‑largest ETF globally. Licensing...
A Practical Guide to Third-Party Cyber Risk Management
Ethixbase360 released an eBook titled “A Practical Guide to Third‑Party Cyber Risk Management,” highlighting how cyber threats now frequently originate from vendors, cloud services, and SaaS providers. The guide explains why incidents are rising, how attackers leverage a single supplier...
2026 Outlook: Navigating Third-Party Risk in the Pharmaceutical & Life Sciences Sector
Ethixbase360 released its 2026 Outlook guidebook on third‑party risk for pharmaceutical and life‑sciences firms. The report highlights rising regulatory scrutiny, including stricter FCPA enforcement, the EU’s Corporate Sustainability Due Diligence Directive, and tighter forced‑labor controls under the Uyghur Forced Labor...
UBO Due Diligence: Ownership Transparency as Strategic Control
Ethixbase360 released an eBook that positions ultimate beneficial ownership (UBO) due diligence as a strategic control rather than a routine compliance task. It explains how sanctions, export‑control regimes, the U.S. Corporate Transparency Act and evolving European AML rules are forcing...
76% of Reinsurers Delivered Double-Digit Capital Growth in 2025: Gallagher Re
Gallagher Re’s 2025 Reinsurance Market Report shows 76% of reinsurers achieved double‑digit capital growth, pushing total dedicated capital to a record $648 billion, up 11% from 2024. Traditional reinsurance capital drove 68% of the expansion, rising 10% to $513 billion, while non‑life...
Assertio and Garda Mutually Agree to Delay Launch of Tender Offer
Assertio Holdings and Garda Therapeutics have mutually agreed to postpone the tender offer for Assertio’s acquisition to May 14, 2026. The original agreement valued the transaction at $21.80 per share, or roughly $153.2 million in cash. Both the cash tender for common shares...
Aon Says Middle East Conflict Is Reshaping Risk, Insurance and Supply Chains
Aon warned that the ongoing Middle East conflict is permanently reshaping risk, insurance and supply‑chain dynamics for multinational firms. In a May 7 webinar, Aon executives said volatility has shifted from an occasional tail‑risk to a baseline planning assumption, driving higher...
How Asset Tracking Improves Financial Decision-Making
Asset tracking has become a cornerstone of modern finance, delivering real‑time visibility into equipment, vehicles, and technology assets throughout their lifecycle. By feeding accurate usage, condition, and location data into financial systems, companies can refine depreciation schedules, improve balance‑sheet reporting,...
Global Crossing Airlines (Q1 2026): Operating Leverage Takes Off, But Liquidity Demands Continued Attention
Global Crossing Airlines posted Q1 2026 revenue up 15% year‑over‑year, driving operating income to double at $6.1 million and EBITDA to $10.8 million despite a smaller net fleet. The shares trade at roughly 2.2× forward EV/EBITDAR, a deep discount that attracted Galloway...
Agnico Eagle Makes Waves: Avenir Minerals Acquires Fox River in Unexpected $94.3M Phosphate Play – by Small Cap Steve (The...
Avenir Minerals, the mining arm of Agnico Eagle, announced a definitive agreement to acquire Fox River Resources for C$94.3 million (approximately $70 million USD). The all‑cash deal offers Fox River shareholders C$1.10 per share, a roughly 20% premium to the recent average...
Musk’s Sweetheart Deal
Elon Musk settled the SEC’s lawsuit over his delayed Twitter‑stock disclosure by paying a $1.5 million fine, a penalty far smaller than the $150 million gain the SEC says he saved. At the same time, Meta faces a massive copyright suit alleging...
Managing and Pricing Data Centre Risk Remains a Key Challenge: Holmes, Moody’s
Brandan Holmes, senior credit officer at Moody’s, warned that insurers struggle to assess and price data‑centre risk because of scarce loss data, short equipment lifespans and a mix of physical and cyber hazards. He highlighted the geographic concentration of high‑value...
PAN GLOBAL RECEIVES C$1.15 MILLION FROM WARRANT EXERCISES
Pan Global Resources Inc. exercised 7,205,495 share purchase warrants before May 6, 2026, generating C$1.15 million (≈US$0.85 million) in gross proceeds. Each warrant converted to a common share at C$0.16, adding cash to a company that is already debt‑free. The funds, together with...
Anthropic Just Released 10 Finance Agents. Installing Month End Closer
Anthropic launched a marketplace of ten finance‑focused agents for its Claude model, featuring a Model Builder for FP&A and a Month‑End Closer designed to automate the most labor‑intensive part of the close process. In a pilot using a March 2026 Born2Cycle...
U.S. Audit Watchdog Should Rescind Its Independence Rules, SEC Official Says – WSJ
U.S. audit regulator SEC chief accountant Kurt Hohl said the Public Company Accounting Oversight Board’s (PCAOB) independence rules should be rescinded and replaced with SEC guidance. The SEC plans to issue informal, nonbinding guidance this year, then consider formal rule...
Why Experience Still Matters in an Automated Finance World
Finance and tax teams are rapidly adopting AI for tasks like transaction classification, compliance checks, and forecasting. However, the looming retirement of Baby Boomer experts—about 10,000 daily in the U.S. and 37% of IRS staff by 2028—threatens to strip organizations...
Changes Coming to California Prop. 65 Warnings
California’s Proposition 65 will enforce new short‑form warning language for products manufactured or labeled on or after Jan 1 2028. The revised warnings must identify at least one specific carcinogenic or reproductive‑toxic chemical and can use “CA WARNING” or “CALIFORNIA WARNING” after the...
SEC Staff Addresses PROPPs: Bank of England No-Action Letter
The SEC’s Corporation Finance Division issued a no‑action letter to the Bank of England, confirming that a firm can exchange bail‑in securities for non‑transferable PROPPs and later for ordinary shares without registering the transaction under Section 3(a)(9) of the Securities Act....
InsideArbitrage Event Driven Monitor – May 8, 2026
The May 8 InsideArbitrage monitor reports a flurry of merger activity, including Knox Lane's $437 million cash acquisition of Cross Country Healthcare at a 31% premium and Angelini Pharma's $4.1 billion purchase of Catalyst Pharmaceuticals with a modest 3.2% premium. Devon Energy completed...
EY Brazil Acquires MB Agro to Strengthen Agribusiness Consulting and Market Intelligence Capabilities
EY Brazil has agreed to acquire MB Agro, a leading agribusiness consulting boutique with decades‑long expertise in economic scenario analysis and market intelligence. The deal brings MB Agro’s full team, client portfolio, and subscription‑based intelligence products into EY’s Agribusiness Center...
AgriBank Reports Strong Q1 2026 Results with $294 Million Net Income and 99.2% Acceptable Loan Quality
AgriBank posted a robust first‑quarter 2026 net income of $294 million, delivering a return on assets of 58 basis points, surpassing its 50‑basis‑point goal. Net interest income surged 18.8% year‑over‑year to $320.2 million, fueled by wholesale and asset‑pool loan growth. Credit quality...
Institutional Inflows Surge as U.S. Spot ETFs Near $1B in Two Days:
U.S. spot Bitcoin exchange‑traded funds recorded nearly $1 billion of net inflows over two trading days, with $532 million on Monday and $467 million on Tuesday. The surge represents one of the strongest two‑day inflow periods since the products launched, highlighting renewed institutional...
The ROIC Engine
The article argues that return on invested capital (ROIC) is the fundamental engine behind sustainable earnings growth. It explains that high ROIC, not just headline earnings, enables companies to generate cash efficiently after the initial capital build‑out. The piece advises...
Home Depot (HD): Our Calculation of Intrinsic Value
Home Depot’s discounted cash‑flow model yields an intrinsic share price of roughly $235‑$240, well below its current trading level near $329. The analysis assumes an 8% discount rate, 3% terminal growth and projects free cash flow climbing to $17 billion by...
Deeply Undervalued Global Medical Device Company – Embecta Corp. (EMBC)
Embecta Corp. (EMBC) is a global diabetes‑care device maker trading at an IV/P of 1.90 and an Acquirer’s Multiple of 5.03, suggesting significant undervaluation. The company posted $1.08 billion in revenue, $140 million net income and $206 million free cash flow, while maintaining...
Starlink AI Acquisition Corporation (OTAI.U) Prices $100M IPO
Starlink AI Acquisition Corporation announced the pricing of its $100 million initial public offering, with units slated to begin trading on the New York Stock Exchange under the symbol OTAI.U on May 8, 2026. The SPAC, led by CEO Gus Liu and CFO...
Deutsche Bank Flags Inconsistent Market Pricing as Iran Conflict Drags On
Deutsche Bank’s research note warns that markets are pricing the Iran conflict inconsistently across asset classes. Treasury yields have tracked oil prices, suggesting a prolonged inflationary shock, while equities have decoupled, treating the disruption as temporary. At the same time,...
Mining Alpha with Michael Gentile – Junior Miners Repriced as M&A Sets New Gold Benchmarks
Two landmark acquisitions have reset pricing benchmarks for junior gold miners. G Mining Ventures acquired G2 Goldfields for roughly $600 per ounce, while Agnico Eagle purchased Rupert Resources at $500‑600 per ounce, each representing about a 70% premium to current...
Informa TechTarget Losses Continue as Growth Inches Higher
Informa TechTarget posted Q1 revenue of $106 million, up 2.1% year‑over‑year, but its net loss deepened to $70.8 million, a 66.7% loss margin. Adjusted EBITDA rose to $7.4 million, reflecting operating leverage from cost efficiencies and revenue growth. The Brand‑to‑Demand segment grew 4.7%...
BuzzFeed (Still Exists) Missed a Debt Payment, Could Default
BuzzFeed missed a $5 million debt payment and secured an extension until May 18. Lenders waived existing defaults but added a covenant requiring at least $7.5 million in liquidity and directing proceeds from asset sales or equity issuances to debt repayment. Failure to...
Pharmaceutical Executive Daily: Angelini Pharma Acquires Catalyst Pharmaceuticals in $4.1 Billion Agreement
Angelini Pharma announced a definitive agreement to acquire Catalyst Pharmaceuticals for $31.50 per share in cash, representing a 21% premium to the unaffected closing price and a total equity value of roughly $4.1 billion. The transaction gives Angelini its first direct...
$700 Billion in Capex. $50 Billion in Revenue. AI’s Math Is Broken.
Anthropic has amassed $72 billion in funding and now claims $30 billion in annualized revenue, yet projects a $14 billion loss for 2026 and no free cash flow until at least 2028. OpenAI mirrors this pattern, posting a 48% gross margin on inference...
Top 3 SPAC Targets – Enterprise AI Managers
After a lull, SPAC activity is resurging, targeting firms that embed AI and large‑language models into enterprise workflows. The column highlights three private AI‑management companies—Mintlify, TrueFoundry, and Together AI—as prime SPAC candidates. Mintlify recently closed a $45 million Series B, TrueFoundry raised...
Potomac Tech Wire - May 7
The Potomac tech ecosystem saw several headline moves this week. HawkEye 360 completed a $416 million IPO on the NYSE, with its stock jumping more than 30 percent. Scout Space raised an $18 million Series A to build a new sensor facility in Northern...