Today's Investment Banking Pulse
Autodesk to acquire MaintainX for $3.6B, expanding into operations software
Autodesk announced an all‑cash $3.6 billion purchase of MaintainX, a mobile‑first maintenance and operations platform. The transaction is funded with cash on hand, new debt and includes a $150 million restricted‑stock grant to retain staff. CEO Andrew Anagnost said the deal unlocks a $40 billion addressable market and extends Autodesk’s portfolio beyond design into building operations.
Also developing:
By the numbers: Credit Agricole raises $670M via Samurai bond issuance
Amazon Stock Pops on Double Satellite Win
Amazon’s stock rose about 4% after the company announced plans to acquire Globalstar and to expand its low‑Earth‑orbit Leo satellite network. The deal will fold Globalstar’s assets into Leo and is paired with a separate agreement to provide satellite texting for iPhone and Apple Watch users. Amazon expects the acquisition to close in 2027, subject to regulatory clearance. The moves deepen Amazon’s push into space‑based connectivity, directly challenging Starlink and broadening its infrastructure portfolio.
Why Amazon Stock Just Popped
Amazon announced a $11.6 billion acquisition of Globalstar, paying $90 per share – a 23% premium – to secure the satellite‑communications firm. The deal adds roughly two dozen satellites, expanding the Amazon Leo constellation by about 10% and delivering instant direct‑to‑consumer capability...
The Paramount–Warner Bros. Discovery Merger: An Antitrust Case for Rejection
Paramount Global agreed to acquire Warner Bros. Discovery in a deal valued at roughly $111 billion, consolidating two of the six remaining major Hollywood studios into a single entity. The merger is under antitrust review by the DOJ, state attorneys general,...
Zepto IPO: How It Stacks up Against Listed Rivals Blinkit & Instamart
Indian quick‑commerce platform Zepto is preparing an IPO in June‑July 2026, filing a draft for a ₹11,000‑12,000 crore ($1.3‑$1.45 bn) issue. The company runs about 1,100 dark stores and processes 2.4‑2.5 million orders daily, trailing Blinkit’s 2.6 million but ahead of Instamart. Zepto posted...
Hyundai Returns to Raise $1.2 Billion From Prime Auto Leases
Hyundai Capital America is launching the Hyundai Auto Lease Securitization Trust 2026‑B, a $1.2 billion transaction backed by 45,321 prime auto leases. The deal issues five tranches of A‑ and B‑class notes, with AAA‑rated A2 and A3 tranches holding a base...
Fintech SumUp Lines Up Banks for Possible London IPO
SumUp Payments Ltd. is assembling a banking syndicate that includes Deutsche Bank, Goldman Sachs, Jefferies and JPMorgan to explore a first‑time public offering in London. The fintech, known for its point‑of‑sale terminals, could be valued at $10 billion or more, making...
VRDN Unsold Inventory Reaches High for Year-to-Date
The short‑term municipal market is feeling pressure as unsold variable‑rate demand note (VRDN) inventory climbed to a year‑to‑date high of $8.8 billion, with $1.63 billion repriced on Tuesday. Dealers are stretched, especially on $7.1 billion of weekly‑reset notes, and no new buyers have...
Payward Raises $200M to Expand Crypto Services Globally
Payward, the parent of one of the world’s largest crypto exchanges, closed a $200 million financing round to accelerate its global growth. The funds will be allocated to upgrading infrastructure, bolstering cybersecurity, and launching advanced trading tools. Payward also plans to...
JetBlue Rumors? Now American? What a United Mega-Merger Would Mean
United Airlines is reportedly weighing two mega‑merger options—first a partnership‑turned‑potential deal with JetBlue, now a more ambitious tie‑up with American Airlines. A United‑American combination would create the world’s largest carrier by capacity and revenue, commanding roughly 40% of the domestic...
Globalstar Stock Rises on Amazon Takeover. The Impact on AST SpaceMobile and Iridium.
Amazon announced a takeover of Globalstar, offering $90 per share in cash or Amazon stock at a 0.3210‑to‑1 ratio, capped at $90. The proposal values Globalstar at roughly $3.5 billion and sent its stock up 9.2%, while Amazon rose 4.0%. Competitor...
New SPAC: General Catalyst Global Resilience Merger Corp.
General Catalyst announced the formation of General Catalyst Global Resilience Merger Corp, a new special purpose acquisition company (SPAC) filed for an initial public offering on April 14, 2026. The vehicle is positioned to raise roughly $200 million to pursue acquisitions...
M&A Surge: AVNS, GSAT Deals Lead $13B Activity
Today's M&A and SPAC notes $AVNS to be acquired by American Industrial Partners for $25.00 cash per share, 72.1% premium, $1.3 billion $GSAT to be acquired by $AMZN for $90.00 in cash + stock, 23.5% premium, $11.7 billion $SZZL announced a business combination...
Would A United, American Airlines Merger Shake Up The Airline Industry?
United Airlines CEO Scott Kirby pitched a merger with American Airlines during a February meeting with former President Donald Trump, sparking speculation that the two carriers could form the largest U.S. airline by fleet size. The report sent United, American...
Trinity and UBS Secure $600M Refi for Diplomat Resort in South Florida
Trinity Investments and UBS have refinanced the 1,000‑room Diplomat Beach Resort in Hollywood, Florida with a $600 million loan led by J.P. Morgan Chase ($420 million) and Citi ($180 million). The new mortgage pushes total debt to $600 million, up $148 million from the prior...
Adriana Schwartz Joins Seward Kissel as Partner
Seward & Kissel announced the addition of Adriana Schwartz as a partner in its investment‑management group. Schwartz will focus on securities law, handling regulatory and compliance matters for passive and activist investors, especially Section 13(d) and Section 16 reporting. Her practice also...
Switch Secures $768 Million in ABS Funding
Switch Inc. closed a $768 million asset‑backed securities (ABS) offering, Series 2026‑1, backed by its 1.4 million‑square‑foot, 52 MW data center in Reno, Nevada. The proceeds will be used to repay existing debt and fund general corporate purposes. This transaction marks Switch’s fifth ABS...
Credo to Acquire DustPhotonics in $160 Million Cash‑and‑Stock Deal
Credo announced a $160 million cash‑and‑stock transaction to acquire Israeli silicon‑photonics specialist DustPhotonics. The deal, split roughly $90 million in cash and $70 million in newly issued Credo shares, is slated to close in Q3 2026 and is intended to accelerate Credo’s roadmap in...
Goldman Sachs Ups Private Credit Bet, Highlighting Real‑Estate Financing
Goldman Sachs announced a reinforced focus on private credit, underscoring its $15.7 bn non‑traded vehicle and a $561 bn deposit base, to sustain real‑estate lending. CEO David Solomon said the firm “feels good about the long‑term opportunity of private credit,” even as...
Private Credit Defaults to Double by 2026, AI Blamed
UBS: Private credit defaults set to double in 2026 — with AI cited as a key driver of borrower distress
Lucid Secures $1.05B, Swaps CEO, Expands Uber Robotaxi Deal
Lucid Group released a trifecta of major updates, announcing a $1.05 billion capital raise, a leadership change, and an expanded robotaxi partnership with Uber and an affiliate of Saudi Arabia’s Public Investment Fund. https://t.co/F4hrNUg0UO
Pershing Square Files $2.8 Bn Dual‑Listing IPO, Aiming for $10 Bn Capital
Bill Ackman's Pershing Square Capital Management has filed for a dual‑listing initial public offering that has already attracted $2.8 bn of investor commitments. The IPO will list both Pershing Square Inc. (PS) and Pershing Square USA (PSUS) at $50 per share,...
Amazon to Operate Globalstar Satellites, Launch Own System by 2027
Amazon told PCMag: “We expect the transaction to close in 2027, and at that point we plan to operate Globalstar’s existing satellite fleet, and their upcoming low Earth orbit satellites being manufactured by MDA Space, before deploying a next-generation DTD...
Sweetgreen IPO Jumps 77%, Hits $6 B Valuation
WSJ, Nov 2021: "Sweetgreen shares jumped 77% in their debut. Shares of the salad chain closed at $49.50, valuing $SG at more than $6 billion." https://t.co/4nAeKtz5q0
Newmark Hires Ex-Citigroup Director Philip O’Bannon to Expand Data Center Investment
Newmark has appointed former Citigroup director Philip O’Bannon as senior managing director to lead its infrastructure capital markets unit. O’Bannon, who brings more than 20 years of investment‑banking and engineering experience, will focus on data centers, energy‑transition assets, power, utilities...
Zero‑percent Euro/Yen Bonds Made 2021 Borrowing Bliss
Few things sweeter in corporate finance than borrowing at 0.000% by issuing fixed-rate notes in Euros/Yen during 2021 https://t.co/Wv6Z1zNz1S
Eurofins Scientific to Sell MET Labs to UL Solutions for $627 M
Eurofins Scientific announced the sale of its Electrical & Electronic Testing business, MET Labs, to UL Solutions for an enterprise value of €575 million (about $627 million). The cash‑free, debt‑free deal, slated to close by year‑end 2026, trims Eurofins’ B2B offerings and...
Metrobank Raises P35 Billion via Asean Bonds
Metrobank listed P35 billion (about $625 million) of ASEAN Sustainability Bonds, its largest peso‑denominated issuance. The 1.5‑year Series F bonds carry a 5.4727% fixed coupon and attracted orders roughly seven times the P5 billion base amount, prompting an early close of the offer. Proceeds...
Serbian NIS Deal Faces Uncertainty After Hungarian Election
Hungarian oil giant Mol remains interested in buying the controlling stake in Serbia’s state oil firm NIS, currently owned by Russia’s Gazprom and Gazprom Neft. The deal was already under discussion before Hungary’s parliamentary election. The opposition Tisza party’s victory has...
Due Diligence Saved Us: Globalstar Went Bankrupt
I did due diligence on a potential Globalstar acquisition in ~ 1999-2000. We passed for a number of reasons. Globalstar filed for Chapter 11 bankruptcy protection on February 15, 2002. Adding a mobile component to the Leonbroadband system improves scale. https://t.co/GVvgIb0cD4
Revolution Medicines Leads Latest Wave of Stock Offerings, Totaling $1.5B
Revolution Medicines anchored a fresh wave of biotech equity offerings on Monday, helping to lift total capital raised to roughly $1.5 billion. The offering round also included Spyre Therapeutics and Allogene Therapeutics, each filing separate share sales. Proceeds are earmarked for...
Goldman Sachs Files Bitcoin Premium Income ETF
SHOCK: Goldman jumping into the bitcoin ETF game.. with a filing for a Bitcoin Premium Income ETF https://t.co/WszEIrQ2tV
Instacart Acquires Instaleap to Expand Its Enterprise Platform Internationally
Instacart announced the acquisition of Colombia‑based grocery‑tech firm Instaleap, a move aimed at extending its enterprise platform beyond North America. Instaleap, founded in 2019, provides a fulfillment‑solutions platform used by retailers in roughly 30 countries across Latin America, Europe and...
Five Jewellery Firms Defer IPO Plans as Market Conditions Turn Bearish
Five Indian jewellery companies—Lalithaa Jewellery Mart, Augmont Enterprises, Priority Jewels, Shankesh Jewellers and Sunil Gold—have postponed IPOs totaling roughly ₹3,840 crore (about $460 million) as primary‑market sentiment turns bearish. The firms cite a mismatch between promoter valuation expectations and investor appetite, coupled...
JPMorgan Slams Rules that Would Spur $20 Billion Capital Hike
JPMorgan Chase warned that new Basel III endgame proposals would force it to hold about $20 billion more capital, a roughly 4 % increase in its capital ratio. The bank’s CFO Jeremy Barnum called the G‑SIB surcharge “miscalibrated,” saying it would lock up...
Covenant Trends – 4/13/2026
Covenant Trends released its weekly snapshot of first‑lien institutional loan market conditions on April 13, 2026. The data show average new‑issue clearing spreads for Single‑B rated loans narrowing to roughly 165 basis points, a 5‑bp improvement from the prior week....
Adams Street Closes $7.5bn Private Credit Fund as Strategy Assets Reach $15bn
Adams Street closed a $7.5 billion private‑credit fund, pushing its strategy’s assets under management to $15 billion. Leonard Green is close to a $3 billion buyout of construction consultancy Cumming Group, while Thoma Bravo is merging HCSS with Nemetschek Build & Construct to create a global construction‑tech platform....
LPL’s Latest Deal? Buying Advisors From Mariner It Already Works With
LPL Financial announced it will purchase part of the Mariner Advisor Network, encompassing 367 independent advisors who collectively manage about $31 billion in assets. The deal includes 144 hybrid advisors moving to LPL’s Private Advisor Group model while 223 remain directly...
Convex Targets $200m of Retrocession with Its Fourth Hypatia Catastrophe Bond
Convex Group is launching its fourth catastrophe bond through Bermuda‑based Hypatia Ltd., aiming to raise at least $200 million of retrocession. The Series 2026‑1 bond will provide aggregate industry‑loss‑triggered protection for U.S. hurricane and earthquake risks, with an attachment point of $150 billion...
Amazon's $13.7B Whole Foods Tops $11.6B Globalstar Deal
Amazon's M&A history-- Globalstar would be its second-biggest deal ever I think: Whole Foods — $13.7B Globalstar — ~$11.6B announced / pending MGM — $8.45B One Medical — ~$3.9B Zoox — ~$1.3B Zappos — ~$1.2B Ring — ~$1.0–1.2B Twitch — ~$970M Kiva Systems — $775M PillPack — ~$753M
Amazon Makes Globalstar Deal Official, Shakes Up Satellite Sector
Amazon announced the acquisition of Globalstar for $11.57 billion, aiming to broaden its Leo satellite constellation and challenge SpaceX’s Starlink. The news lifted Amazon’s shares 2.7% to $246.33 and sent Globalstar stock up 10.2% to $80.30. Options activity surged, with call...
Lilly Wants to Bridge Cancer Care Gap with $300M ADC Biotech Buy
Eli Lilly announced an acquisition of Houston‑based CrossBridge Bio, offering up to $300 million in cash and performance‑based biobucks. The early‑stage biotech is developing a dual‑payload antibody‑drug conjugate, CBB‑120, that targets the TROP2 protein found in many solid tumors. CrossBridge plans to...
AtlasClear Holdings Seeks Approval to Acquire Commercial Bancorp in Bank‑Sector Roll‑Up
AtlasClear Holdings, a technology‑enabled financial services holding company listed on NYSE American (ATCH), filed regulatory applications on April 13, 2026 to acquire Commercial Bancorp, the bank‑holding company that owns Farmers State Bank. The filing signals AtlasClear’s push to create a...
Adams Street Secures $7.5 B for Private Credit Platform, Boosting Real‑Estate Debt Funding
Adams Street Partners closed a $7.5 billion fundraising round for its third private‑credit platform, the biggest private‑credit raise of 2026. The capital, 40% of which came from non‑U.S. investors, expands the firm’s ability to provide senior financing to middle‑market sponsors, a...
Nvidia Denies Acquisition Talks as Dell, HP Shares Jump on Speculation
Nvidia Corp. publicly denied a SemiAccurate report that it was negotiating to buy a major PC maker. The denial came after Dell Technologies and HP shares surged on the rumor, highlighting the market’s sensitivity to any hint of a mega‑deal...
TBAC Survey Launches; Coupon Rise May Pressure Long End
I think TBAC questionnaires go out this week. Any question suggesting an increase in coupon issuance could pressure the long end.
HSBC Inks Dubai Partnership to Boost Capital Inflows as Bond Banker Jumps to BofA
HSBC Bank Middle East Limited signed a strategic agreement with Dubai's Department of Economy and Tourism to accelerate investment and capital inflows, part of Dubai's D33 agenda to double its economy by 2033. Within days, the bank lost Khaled Darwish,...
Adams Street Partners Holds $7.5bn Final Close
Adams Street Partners announced the final close of its third private credit platform, securing $7.5 bn in commitments. The fund will focus on senior financing for sponsored mid‑market companies across the United States and Europe. By targeting senior debt, the platform...
Goldman Sachs Posts Record Q1 Profit as CFO Coleman Outlines Capital Strategy
Goldman Sachs posted a record $5.6 bn net profit and $17.2 bn revenue in Q1 2026, while CFO Denis Coleman detailed a capital‑allocation plan that balances strong shareholder returns with a cautious approach to its under‑performing FICC franchise. The results underscore the...
AIP to Take Medtech Firm Avanos Medical Private
AIP, a private‑equity firm, announced plans to take Avanos Medical private at an estimated $1.272 billion valuation. The deal will remove Avanos from public markets, giving AIP full control over its medtech portfolio. Avanos, known for innovative airway and vascular devices,...
GCL Optoelectronic Plans 2026 IPO, US Plant, Space Solar
GCL Optoelectronic targets 2026 IPO, US plant, space solar rollout #energysky -- via pv magazine global: https://t.co/rdA4GxUdCl