Today's Investment Banking Pulse
SpaceX’s record IPO propels Elon Musk to trillion‑dollar status
SpaceX filed confidentially for a June 2026 IPO targeting a $50 billion raise that would lift its valuation above $1 trillion. The debut opened at $150 per share, an 11% jump, and Musk’s 44% stake pushed his net worth to $823 billion, making him the world’s first trillion‑dollar individual.
GPs Add Fund ABS Into the Mix for Evergreens
General Partners are increasingly packaging tranches of perpetual, or evergreen, vehicles into fund‑backed asset‑backed securities (ABS). This hybrid structure blends the long‑term capital base of evergreen funds with the liquidity and tradability of securitisation. Early issuances show strong investor appetite, as limited partners seek cash‑flow options without sacrificing exposure to private market returns. The trend signals a convergence of two fast‑growing private‑market products, potentially reshaping fund financing dynamics.
Guest Post: Low-Float IPOs and Pump-And-Dump Risk
Recent securities class actions against Charming Medical, PomDoctor, China Liberal Education Holdings, and Picard Medical illustrate a growing litigation focus on low‑float IPOs and social‑media‑driven pump‑and‑dump schemes. Plaintiffs allege that thin public floats, concentrated insider ownership, and inadequate IPO disclosures...
Risk Arbitrage Series: ROK Resources Inc. And a Counterparty Default
The episode dissects the going‑private deal of ROK Resources by Blue Alaska Oil Trading, highlighting how a seemingly straightforward transaction with a 27.5% premium unraveled when the acquirer defaulted on its cash payment, prompting a deadline extension to March 17,...
Stockholm’s Capital Markets Success: More Than Meatballs
In this episode Barbara Stewart, CFA, explores why Stockholm has become Europe’s leading capital‑raising hub, highlighting a surge in IPOs, private‑equity activity, and corporate‑bond issuance. She attributes the durability of this flow to a deep investment culture fostered by the...