Today's Investment Banking Pulse
Blackstone commits up to $1.3bn to Apogee’s skin‑drug program
Blackstone is providing up to $1.3 billion in structured financing to Apogee Therapeutics, split between $800 million of equity and $500 million of debt with royalty‑linked returns. The capital will accelerate development of the atopic‑dermatitis candidate that recently met its Phase II primary endpoint.
Also developing:
By the numbers: Credit Agricole raises $670M via Samurai bond
The $130 Billion Acquisition of Dominion Energy – The Special Situations Report Episode 68
NextEra Energy announced a $130 billion acquisition of Dominion Energy, marking the largest deal of 2026. The transaction merges NextEra’s expansive renewable portfolio with Dominion’s natural‑gas and nuclear assets, creating a utility powerhouse. The deal is slated to close in 2027 pending regulatory clearance. The episode also highlighted a $21.46 million insider purchase of GeneDx stock.
Simba Telecom-M1 Singaporean Merger Deal Collapses
Simba Telecom’s proposed acquisition of Singapore’s M1, announced in August 2023 with an enterprise value of US$1.12 bn, has collapsed after the deadline passed. Singapore’s regulator halted its review, citing possible unauthorized use of radio‑frequency bands by Simba. Tuas, Simba’s Australian...
Ōura Files for IPO Amid Healthcare Push
Finnish wearable maker Ōura has confidentially filed a draft registration statement with the SEC, signaling its intent to go public. The move follows a $900 million funding round in October that was earmarked for expanding health‑focused features. Ōura recently secured FDA...
SpaceX IPO: Everything You Need to Know About the Stratospheric Listing
SpaceX filed an S‑1 on May 20, signaling its imminent Nasdaq debut under the ticker “SPCX”. The filing hints at a target valuation of roughly $1.75 trillion, which would place the company among the world’s ten most valuable firms. With over...
SpaceX Roadshow Begins After Starship Launch
SpaceX launched its IPO roadshow on May 26 after a successful Starship test flight that deployed mock satellites and returned safely. The filing, which could become the largest U.S. IPO ever, touts a $28 trillion total addressable market, with roughly $2 trillion attributed...
The IPO Buzz: Innio (INIO Proposed) Unveils $1.9 Billion IPO
German‑based Innio Holding announced a proposed IPO of 75 million shares priced between $24 and $27, targeting up to $1.91 billion in gross proceeds. At the midpoint of $25.50, the offering would imply a market valuation of roughly $19.1 billion. The sole selling...
Applied Aerospace & Defense Aims $3.59B NYSE Valuation
Greenbriar Equity-backed Applied Aerospace & Defense targets $3.59bn valuation in NYSE listing Read more here: https://t.co/n62Z3dGg0m https://t.co/yxiaPfIyZc
JPMorgan Says $50 B Private Credit Exposure Is Manageable Amid Market Worries
JPMorgan Chase announced it is comfortable with a $50 billion exposure to private credit, a figure that represents roughly 6% of its $800 billion market cap. Dimon argues the exposure is modest compared with peers and the broader $1.8 trillion private‑credit market, even...
Nanobiotix Raises $100 Million in Global Offering, ABIVAX Posts €52 Million Q1 Loss
Nanobiotix (NBTX) completed a global offering that raised $100 million after underwriters exercised their option, while ABIVAX (ABVX) posted a €52 million (≈$56.6 million) loss for Q1 2026 as R&D spending surged. The contrasting results underscore divergent trajectories among Euro‑listed biotech firms.
The IPO Buzz: Quantinuum (QNT Proposed) Launches $1 Billion IPO
Quantinuum, a quantum‑computing spin‑out of Honeywell, filed a $1 billion IPO prospectus on May 26, 2026, offering 21.05 million shares at $45‑$50 each, implying a $12.06 billion market cap at the $47.50 midpoint. Lead managers are J.P. Morgan and Morgan Stanley, with a slate of...
This New Quantum Stock Could Debut with a Valuation of Nearly $13 Billion
Quantinuum, the Honeywell International spinoff focused on quantum computing, has filed IPO terms seeking up to $1 billion in proceeds and a valuation close to $13 billion. The company recently secured $100 million in funding from the U.S. government, which also took a...
Oakley Capital to Acquire Majority Stake in XTEL for Up to £33 Million ($42 M)
Oakley Capital Fund VI is set to invest up to £33 million (about $42 million) for a majority stake in XTEL, the revenue‑management and trade‑promotion software provider to over 400 global consumer‑goods brands. The deal underscores private‑equity’s growing appetite for data‑intensive SaaS...
Cerebras IPO Triggers $32 M Ark Investment Buy, Boosting AI Chip ETF Interest
Ark Investment Management bought roughly $32 million of Cerebras stock following the chipmaker's $67 billion IPO, prompting analysts to flag AI‑focused exchange‑traded funds as the quickest way for investors to ride the AI‑chip wave. The move underscores growing demand for thematic ETFs...
Digest: Uber Still Keen on Delivery Hero?
Uber’s board is weighing a higher offer for Delivery Hero after its initial €38‑a‑share proposal—roughly $41 per share—was rebuffed. A revised bid would push the target valuation past €11.5 bn, about $12.5 bn, positioning Uber as the dominant player in Europe’s fragmented food‑delivery...
D2C Footwear Brand Yoho Raises Fresh Funds
Direct‑to‑consumer footwear brand Yoho announced a fresh funding round comprising ₹15 crore in equity and ₹8 crore in debt, roughly $2.8 million in total. The round was led by Gulf Islamic Investments and Rajeev Misra, former SoftBank Vision Fund CEO, with participation from...
Unitree Robotics Reports Plunge in First-Quarter Profits Days Before Crucial IPO Hearing
Unitree Robotics, a leading Chinese humanoid‑robot maker, reported a sharp 52% drop in adjusted net profit to 40.3 million yuan (≈$5.9 million) for Q1, even as revenue surged 68% to 422.8 million yuan (≈$62 million). The company is seeking to raise 4.2 billion yuan (≈$619 million)...
Who’s Powering Next-Gen Nuclear Energy: AI Boom Drives Hybrid Financing Wave
Oklo’s SPAC debut in May 2024 valued the startup at $850 million; after securing NRC approval for its Aurora reactor, the company’s market cap surged to $13.9 billion. The rise of AI‑intensive data centres has drawn tech giants—Microsoft, Google and Amazon—into advanced nuclear...
MUFG Explores Options for Stake in Indonesia’s Danamon Including Take-Private Deal: Sources
MUFG is evaluating options for its 92.5% stake in Indonesia's Bank Danamon, including a take‑private or a partial sale to boost the public float required by new regulations. Danamon is valued at roughly 47 trillion rupiah (about $3.1 bn) and holds assets...
Done.ai Board Launches Review of Sale, IPO and Co‑Investment Options
Done.ai Group AB’s board has opened a formal review of strategic alternatives, including a sale, co‑investment or public offering, as the company targets 1 billion Swedish kronor ($110 million) in revenue by 2028. The move will likely draw investment‑bank advisors to structure...
August Robotics Secures $30 Million Series B to Scale Autonomous Construction Robots
August Robotics announced a $30 million Series B financing round led by Big Pi Ventures, with participation from existing backers and new investor GS Futures. The capital will fund manufacturing scale‑up, AI enhancements, and global market expansion for its autonomous construction robots....
AI Bets Shift to Sensors as Jeff Bezos‑Backed Project Prometheus Raises $10 B
Jeff Bezos’s Project Prometheus closed a $10 billion funding round at a $38 billion valuation, while SoftBank filed to IPO robotics firm Roze at a $100 billion target and Eclipse Ventures launched a $1.3 billion physical‑AI fund. The influx signals a decisive shift of...
Brookfield Secures TSX Approval to Renew NCIB for 191 M Shares, 10% Float
Brookfield Corp. won Toronto Stock Exchange clearance to extend its normal course issuer bid, authorizing the purchase of up to 191,034,672 Class A limited‑voting shares—about 10% of its public float—until May 26 2027. The renewal gives the asset manager flexibility to deploy cash...
SpaceX Files for IPO, Merges with xAI to Launch AI Platform Macrohard
SpaceX filed for an initial public offering that bundles its recent merger with Elon Musk's xAI, spotlighting a new AI platform called Macrohard. The filing also details multi‑billion‑dollar transactions between SpaceX, Tesla and The Boring Company, underscoring the financial interdependence...
AI‑Driven Bond Rush Heightens Cross‑Asset Concentration Risk
FT: "Amazon, Meta Platforms, Alphabet and Oracle issued a combined $159bn in bonds this year, according to LSEG data, as they race to build massive AI data centres. About $50bn of that came through so-called reverse Yankees — when US...
Futu Shares Dive 30% After China Crackdown, Tree Line Executes $57.5M Block Trade
China's securities regulator imposed a 1.85 billion‑yuan ($271 million) penalty on Futu Holdings, slashing its U.S.‑listed shares by more than 30%. In response, Tree Line Advisors sold its entire 370,000‑share position for an estimated $57.5 million, highlighting the pivotal role of investment banks...
Delivery Hero Shares Rise 10% as Uber Considers Takeover Bid
Delivery Hero’s stock surged more than 10% after reports that Uber is weighing a higher takeover bid. Uber has offered €33 per share, roughly $38.30, valuing the German food‑delivery group at about $10.9 billion. The ride‑hailing giant recently lifted its ownership...
Berkshire Hathaway’s $8.1 B Net Sell in Q1 13F Signals New Tech Focus
Berkshire Hathaway disclosed a $15.94 B purchase and $24.09 B sale in its Q1 13F, netting an $8.15 B divestment. The filing added a $2.65 B position in Delta Air Lines, nearly tripled its Alphabet stake to roughly $17‑23 B, and exited major names such...
Brazilian Rare Earths Announces the Alurion Resources Limited Board of Directors and Chief Executive Officer
Brazilian Rare Earths Limited (BRE) announced the appointment of Mauricio Noronha as CEO and a seasoned board for its newly formed subsidiary Alurion Resources, which will own the Amargosa Bauxite Project in Bahia, Brazil. The board brings deep expertise from...
Vegorama Punjabi Angithi IPO Allotment Expected Today: Here's How to Check Status
Vegorama Punjabi Angithi’s SME IPO, priced at ₹77 ($0.92) per share, is set for allotment on May 25 after a near‑35‑times overall subscription. The ₹25.59 crore ($3.1 million) issue saw retail demand oversubscribed 28‑times and QIB interest 24.46‑times. Successful bidders will receive shares...
Blackstone Digital Infrastructure Trust Announces Pricing of up to $2 Billion Initial Public Offering
Blackstone Digital Infrastructure Trust Inc. priced its initial public offering at $20 per share, selling 87.5 million shares for a potential $2 billion in gross proceeds. The underwriters received a 30‑day option to purchase additional shares, which could raise the total to...
Uber Lifts Offer for Delivery Hero to €33 a Share, Sparking Shareholder Push for €40
Uber Technologies has increased its indicative takeover proposal for Delivery Hero to €33 per share, valuing the German food‑delivery firm at roughly $11.6 bn. Shareholders, however, are urging a premium above €40 per share, creating a pricing standoff as the deal...
JPMorgan Says AI Moves From Hype to Scalable Enterprise Deployments
JPMorgan Chase's global M&A chair Kevin Brunner told Bloomberg that AI has transitioned from hype to execution and scaling, signaling a new phase for enterprise finance. The bank’s own tech spend, hiring trends, and a surge in AI‑focused deals underscore...
Zepto Said to Plan June Public Filing for $1 Billion India IPO
Rapid‑commerce platform Zepto Ltd. is set to file for an initial public offering in the first half of June, aiming to raise up to $1 billion. The company plans to begin investor roadshows later in June, with a potential IPO launch...
SpaceX Targets $75 Billion IPO, Aiming for $1.8 Trillion Valuation
Elon Musk’s SpaceX filed for a $75 billion initial public offering that could lift the company’s market value to $1.75‑$2 trillion, the largest equity raise in history. The filing draws a slate of underwriters, sparks debate over governance and profitability, and triggers...
Jardine Matheson to Acquire I-MED for $2.4 B, Expanding B2B Healthcare Tech Portfolio
Hong Kong‑listed Jardine Matheson Holdings agreed to buy I‑MED Radiology Network for an enterprise value of A$3.4 billion (≈US$2.4 billion). The deal gives Jardine full control of 215 diagnostic imaging clinics across Australia and New Zealand and a minority stake in AI firm...
AI’s Growing NEE-D for Power Fuels $130 Billion Utility Deal – Merger Arbitrage Mondays
NextEra Energy announced a $130 billion merger with Dominion Energy, creating a combined enterprise valued at roughly $420 billion. Dominion shareholders will receive 0.8138 NextEra shares plus a $0.41 cash dividend per share, representing a 23.75% premium. The transaction gives NextEra a...
Adani, GMR Among Shortlisted Bidders for $400 Million IntelliSmart Deal
IntelliSmart Infrastructure, a joint venture of NIIF and EESL, is being sold for an equity value of about $400 million (₹3,700 crore). Four bidders – Adani Energy Solutions, GMR Smart Electricity Distribution, Genus Power Infrastructures and Partners Group – have been shortlisted...
Parker Hannifin to Acquire CIRCOR Aerospace for $2.55 Billion
Parker Hannifin has signed a definitive agreement to buy CIRCOR Aerospace for $2.55 billion, a deal that expands its aerospace and defense capabilities. Private‑equity firm KKR, which bought CIRCOR for $1.8 billion in 2023, will retain the company’s Naval and Industrial divisions....
Nexstar Finalizes $6.2 B Purchase of Tegna, Creating Nation’s Largest Local‑TV Group
Nexstar Media Group closed its $6.2 billion acquisition of Tegna after FCC and DOJ clearance, giving it more than 260 local broadcast stations. The merger boosts Nexstar’s negotiating power with distributors while sparking criticism over media concentration.
BofA Strategist Warns SpaceX and OpenAI IPOs Could Trigger Tech Bubble
Bank of America strategist Michael Hartnett warned that the pending IPOs of Elon Musk’s SpaceX and Sam Altman’s OpenAI could lift tech’s share of the S&P 500 beyond the 48% threshold that has preceded every major market bubble. The warning...
JPMorgan to Shed $4 Bn of Private‑Equity‑Linked Loans as Leveraged‑Finance Risk Tightens
JPMorgan Chase is in talks to transfer risk on more than $4 bn of private‑equity‑fund loans, shifting up to 12.5% of a loan pool off its balance sheet. The move reflects banks’ growing caution on leveraged‑finance exposure as higher rates and...
FinTech M&A in 2026: What Buyers Are Paying For
FinTech M&A surged in 2025, delivering a record number of deals and valuations. Venero’s Q1 2026 Master Report shows buyers have shifted from chasing headline growth to demanding strategic fit, proven revenue models, and regulatory robustness. The market now rewards quality...
CaixaBank CIB Leads €2.1 Bn (≈$2.3 Bn) Accelerated ACS Deal, Europe’s Largest in 2026
CaixaBank Corporate & Investment Banking served as Joint Global Coordinator for Grupo ACS's €2.1 bn (about $2.3 bn) accelerated acquisition‑completion‑services (ACS) transaction, the largest such deal in Europe for 2026 and the biggest ever led by a Spanish bank. The deal underscores...
Convective Secures $85 Million to Turn Disaster Resilience Into Investable Assets
Convective, an insurtech platform focused on pre‑disaster mitigation, closed an $85 million financing round to commercialise disaster‑resilience capital assets. The capital will fund flood barriers, wildfire detection, grid protection and analytics, signalling a shift toward prevention‑focused investing in the insurance ecosystem.
Pershing Square's $64 B Offer for Universal Music Group Triggers Catalog Valuation Debate
Bill Ackman's Pershing Square has put forward a $64 billion bid to acquire Universal Music Group, the largest music‑industry transaction this year. The proposal could reshape catalog pricing, licensing leverage and royalty negotiations for songwriters, artists and streaming platforms.
Uber Weighs Higher Bid for Delivery Hero After €11.5bn Offer Rebuffed
Uber is reassessing its approach to acquire Delivery Hero after the German food‑delivery group rebuffed an initial €11.5 billion ($12.4 billion) proposal. The rejected bid highlighted the gap between Uber's valuation and Delivery Hero's market worth, which analysts estimate at over €20 billion....
Qorvo’s SWOT Analysis: Semiconductor Stock Navigates Merger Path
Qorvo Inc. is moving toward completion of its acquisition by Skyworks Solutions, a deal that values the combined RF semiconductor entity at roughly $22 billion. The transaction offers $32.50 in cash plus 0.960 Skyworks shares per Qorvo share and is expected...
How New Mega-Cap IPO's Will Reshape the Markets
Larry Tabb of Bloomberg explained that SpaceX and OpenAI are eyeing mega‑cap IPOs with valuations up to $2 trillion and $1 trillion respectively. He highlighted how post‑Enron regulations, especially Sarbanes‑Oxley, have made the filing process more recursive and litigation‑prone. The NYSE and...
SEC Chair Paul Atkins Unveils IPO Reform Plan to Cut Costs for Small Firms
SEC Chairman Paul Atkins announced a package of rule changes designed to streamline IPO filing categories, expand scaled disclosure and lower compliance costs for small and mid‑size issuers. The May 2026 proposals aim to reverse a decade‑long decline in public...
Mercury Secures $200 Million Series C, Valued at $5.2 Billion
Mercury announced a $200 million Series C financing that lifts its valuation to $5.2 billion. The capital will fund expansion of its banking platform for startups, adding AI‑driven services and broader credit products. The raise reflects strong market appetite for fintech solutions that...