‘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 42% of the equity. Additional provisions include mandatory binding arbitration for shareholder claims and Texas‑based corporate rules that raise the bar for proxy contests and tender offers. Public pension funds such as CalPERS and New York’s controllers have formally objected, calling the governance framework the most shareholder‑unfriendly ever seen in a U.S. offering.
Revolutionizing Compliance: AML Regulations in the Era of DeFi
The U.S. Treasury is intensifying anti‑money‑laundering (AML) oversight of decentralized finance (DeFi), urging platforms to register as money‑services businesses under the Bank Secrecy Act and adopt traditional KYC and transaction‑monitoring procedures. Global regulators, following FATF guidance, now treat virtual‑asset service...
Vedanta Resources Looking to Rejig $5.5 Bn Holdco Debt in One Go
Vedanta Resources is negotiating a single‑shot refinancing of its $5.5 bn holding‑company debt. The plan targets $3.5‑3.7 bn of 10‑year amortising bonds and $1.5‑1.7 bn of five‑year senior loans, aligning repayments with dividend cash flows after a recent demerger. Extending the average debt...
Munis See Lighter New-Issue Calendar, More Volatility Next Week
The municipal bond market entered the final week of May with a lighter new‑issue calendar, estimated at $6.16 bn, while yields jumped up to nine basis points amid Treasury volatility and heightened geopolitical risk, especially the Iran situation. Market participants expect...
UK Moves to Tackle Late B2B Payments
The UK government is drafting its toughest commercial‑payment reforms in 25 years, targeting chronic late B2B invoices that cripple small suppliers. The proposed bill would set strict payment timelines, require large firms to publish performance data, and give suppliers visibility...
Canadian Mortgage Rates May Climb As Bond Yields Hit 2010 High
Bank of Canada’s core inflation is easing, yet long‑term Government of Canada bond yields have surged to their highest level since 2010, with the 30‑year benchmark briefly topping 4.05%. BMO attributes the jump primarily to rising oil prices, even as...
SCOR Secures $75M Atlas Capital 2026-1 Catastrophe Bond
French reinsurer SCOR has secured the full $75 million target for its Atlas Capital DAC Series 2026-1 multi‑peril catastrophe bond, priced at the low end of guidance. The bond will provide retrocession protection for storms and earthquakes across the U.S.,...
Spearmint Energy Secures $450M Project Financing for Red Egret BESS in Texas
Spearmint Energy closed approximately $450 million in project financing to fund its 300 MW/600 MWh Red Egret battery energy storage system in Texas. The financing package includes construction debt, tax equity and capital to support build‑out and long‑term operation. The deal positions Spearmint...
Lauxera Capital Partners Closes $572M Fund II, Doubling Debut Fund Total
Healthtech investor Lauxera Capital Partners announced the final close of its second fund at €520 million (approximately $572 million), roughly double the size of its debut fund. The fund will focus on healthtech investments and marks a successful fundraising round...