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
Guardian Metal Resources (GMTL) IPO Deck
Guardian Metal Resources (GMTL) filed an IPO deck outlining its strategy to explore and develop tungsten and polymetallic critical‑mineral projects in Nevada. The company positions tungsten as essential to U.S. national and economic security, leveraging recent policy focus on domestic supply chains. The offering seeks to raise capital to advance drilling, permitting, and early‑stage production. Investors are drawn by the growing demand for critical minerals in defense and clean‑energy applications.
Deutsche Bank CEO Warns Q1 Trading Revenue Dip as FX Headwinds Bite
Deutsche Bank chief Christian Sewing cautioned that first‑quarter 2026 trading revenue will likely fall, leaving overall investment‑banking revenue flat year‑on‑year. He added that private‑credit concerns remain noisy but non‑systemic, and the bank is poised to benefit from the Commerzbank takeover...
Altai Capital Presses OSUR Sale, Activ
$OSUR is a cash box with a diagnostic business attached. Altai Capital is pushing for a full strategic review/sale. Activist has also nominated two directors for the upcoming AGM. Altai's SOPT in the screenshot. https://t.co/tAJzNe8cMy
UK Family Office, VCs Cash in on Swarmer’s Moonshot IPO
Drone software developer Swarmer completed a high‑profile IPO, attracting a consortium of UK investors. This group—including Theseus Capital Partners, D3 Venture Capital, Green Flag Ventures, R‑G AI and Radius Capital Ventures—now holds combined shares valued at $177 million. The IPO underscores...
Credit Markets Tighten as Qualtrics Loan Stalls
While credit markets are open to many companies, they're starting to close for others. Qualtrics, which makes online survey tools, had to ice a $5.3 billion loan and bond deal due to lack of investor appetite. https://t.co/DE0BfMnHYT
Capital Tankers Corp. Lists on Euronext Growth
Capital Tankers Corp. debuted on Euronext Growth Oslo after a NOK 4.8 billion private placement, the largest western shipping listing in two decades. The company issued 131.05 million shares, with a greenshoe option to raise the total to 135.7 million. At market open the...
Singaporean Buyout Shop Plants First Overseas Flag in HK
Singapore’s leading buyout firm has opened its first overseas office in Hong Kong, marking a strategic push beyond its domestic market. The new location will support investment‑related activities and enhance investor‑relations capabilities across the region. By establishing a foothold in...
Meiwu Technology Announces 14 Million Direct Offering
Meiwu Technology Co Ltd announced a registered direct offering of 6,999,996 ordinary shares at $2.00 per share, generating roughly $14 million in gross proceeds. The deal also includes warrants for an equal number of shares, exercisable at $2.00 within one year....
European Structured Finance and the Middle East War: Resilient So Far but Risks Rising
Despite the Middle East war, European securitisation issuance has remained remarkably active, excluding BSL CLOs. The conflict has nearly halted corporate lending markets, yet consumer‑focused asset classes show no systemic disruption. Pricing discipline has tightened and execution windows are more...
European Data Centre CMBS: Regulatory Clarity Could Supercharge Italy's Data Centre Expansion
Regulatory reforms in Italy are set to clarify the legal framework for financing data‑centre projects, addressing long‑standing ambiguities in mortgage enforcement and securitisation structures. The country’s data‑centre market is projected to double its capacity within five years, driven by hyperscale...
Special Committees: A Guide for the Perplexed
Debevoise released a practical guide on special committees in conflict transactions, detailing when to form them, member selection, and operational protocols. A key focus is the appointment of legal and financial advisors, emphasizing that the committee—not the company—must independently choose...
The Role of Independent Advisers in Issuer Governance and IPO Pricing
Companies planning IPOs increasingly hire independent advisers to oversee underwriting and pricing. A new working paper covering U.S. and European IPOs from 2010‑2023 finds that adviser involvement correlates with lower first‑day returns and tighter offer‑price adjustments, without affecting underwriting spreads...
Regulatory Crackdown Threatens Hong Kong's Booming Share Sales
Intensifying regulatory scrutiny is rattling Hong Kong’s financial industry and raising the prospects of a slowdown in booming share sales in Asia’s premier fundraising hub https://t.co/W795nBdXEj @kiuyanwong @depsebastian @julia_fioretti
Victory Capital Raises Bid for Janus Henderson, Escalating Asset‑Management Takeover War
On Tuesday, March 17, 2026, San Antonio‑based Victory Capital submitted a fresh offer for London‑listed Janus Henderson Group, proposing $40 per share in cash and a 0.25‑share exchange, which would give Victory roughly 31% of the combined firm. The bid...
UniCredit Targets 30%+ Stake in Commerzbank, Aiming for Influence Without Full Takeover
On March 16, 2026, UniCredit SpA announced an exchange‑offer to raise its ownership of Germany’s Commerzbank AG from roughly 28% to just over the 30% trigger level under German takeover law. The deal, priced at €30.80 per Commerzbank share—a 4%...
Dalal Street Newbies Using IPO Muscle to Beat Down Debt
India’s recent IPO surge is increasingly being leveraged to reduce corporate debt rather than fund expansion. Companies earmarked roughly ₹35,055 crore—about a quarter of total IPO proceeds—for debt repayment across 95 issuers in 2024‑2026. This marks a reversal from 2020‑21, when...
Hyperscalers Bet $575B on AI, Need Explosive Revenue
For every dollar hyperscalers earn from AI today, they’re spending twelve dollars to build more capacity. That’s the bet embedded in $575 billion of capital expenditure this year. How fast does AI revenue need to grow to pay back this...
SES Successfully Prices €650 Million of SPACE Hybrid Securities
SES Financing S.à r.l., a wholly‑owned subsidiary of satellite operator SES, priced a €650 million PNC5.25 Subordinated Perpetual with Automatic Conversion Events (SPACE) hybrid security on 24 March 2026. The issue, carrying a 7.375% coupon and callable at par from 2031, was five...
Itausa Sees Aegea Valuation Topping $7.8 Billion in Brazil IPO
Itausa SA, a major shareholder of Aegea Saneamento e Participacoes, expects the sanitation firm to achieve a valuation above its current 40.5 billion reais ($7.8 billion) as it prepares for an initial public offering in the coming months. CFO Priscila Grecco said...
Nevada PERS to Exit Clearlake Exposure Due to ‘Conflicts of Interest’
Nevada's Public Employees' Retirement System (PERS), managing roughly $74.9 billion, announced it will unwind its exposure to Clearlake Capital after identifying a potential conflict of interest. The conflict arises from Clearlake’s recent agreement to acquire Pathway Capital Management, which overlaps with...
ContextVision AB: Transactions Made Under the Buy-Back Programme
ContextVision AB announced that its share buy‑back programme, originally launched in September 2025 for up to NOK 10 million and 4 million shares, was extended to 11 May 2026 with unchanged terms. Between 9 March and 16 March 2026 DNB Carnegie repurchased 1,188,241 shares for a total...
Bank Exec: Miners Must Partner with Indigenous Groups – by Joseph Quesnel (Canadian Mining Journal – March 17, 2026)
Jonathan Davey, Managing Director of Indigenous and Government Advisory at Scotiabank, told the Drumbeats podcast that Canada’s largest infrastructure and resource projects now require Indigenous equity participation. Recent federal programs and legal reforms have turned Indigenous partnerships from a political...
Prime Mortgages Support $363.2 Million in RMBS From RATE
RATE Mortgage Trust launched a $363 million RMBS that backs 293 prime mortgages, the highest average loan balance and single‑family home concentration in roughly four years. The securitization features a mix of Class A exchangeable and interest‑only notes yielding 4.0%‑5.0% and Class B...
Forecasts Keep Rising, Yet Critics Call Them Irresponsible
Every month someone publishes a higher default forecast. > Fitch: 5.8% actual > Morgan Stanley: 8% > UBS: 15% worst case Every month someone in the industry calls it irresponsible.
U.S. Mergers & Acquisitions Monthly Review: February 2026
U.S. M&A activity slowed in February 2026, with announcements dropping 26.7% to 1,013 versus January, yet aggregate deal spending surged 236.8% month‑over‑month. Eleven of FactSet’s 21 tracked sectors posted higher three‑month deal volumes compared with a year earlier, led by...
State Bank of India Mops up ₹6,051 Cr via 10-Year Basel III Compliant Tier 2 Bonds at 7.05%
State Bank of India raised ₹6,051 crore by issuing a 10‑year Basel III‑compliant Tier 2 bond at a 7.05% coupon. The issue carries a call option after five years and on each subsequent anniversary. The bonds received bids roughly twice the ₹5,000 crore target,...
Sell When You're Thriving, Not When Growth Slows
Many founders wait until growth slows before thinking about selling or raising capital, but the irony is: buyers and investors are often most interested when a business is performing at its best. In this episode of Vista Point Advisors The...
The Clog in PE’s Exit Pipeline Is Getting Tougher to Clear
Private equity firms are facing a growing bottleneck in their exit pipeline as IPO markets stay muted, M&A activity slows, and secondary‑sale demand wanes. Elevated interest rates and tighter credit conditions are compressing valuations, forcing managers to hold assets longer...
African Agtech Funding Drops to $170M in 2025 as Debt Overtakes Equity for First Time
The 2025 State of Agtech Investment in Africa report reveals total sector funding fell to $170 million, a near‑20 % year‑on‑year decline, while equity’s share dropped below half for the first time. Debt, grants and blended‑finance structures now dominate capital deployment, reflecting...
OpenAI Explores $10bn Private Equity Joint Venture
OpenAI is exploring a $10 billion joint venture with private‑equity partners to fund its next‑generation AI models and commercial rollout. At the same time, L Catterton announced a $313 million investment in Japan’s consumer sector, while Apollo is negotiating a minority stake in...
Sai Parenteral’s IPO to Open on March 24; to Raise ₹285 Crore via Fresh Issue
Indian pharmaceutical manufacturer Sai Parenteral announced its initial public offering, set to open on March 24, 2026. The IPO comprises a fresh issue of up to ₹285 crore and an offer‑for‑sale of roughly 3.16 million equity shares, with a price band of...
Eikon Therapeutics IPO Brings in $381M for Oncology Pipeline
Eikon Therapeutics priced an upsized IPO of 21.2 million shares at $18, raising roughly $381 million and valuing the company at about $860 million. The California‑based biotech focuses on immune‑signaling, DNA‑repair and androgen‑receptor pathways, with its lead candidate EIK1001 – a TLR7/8 dual...
The IPO Buzz: Swarmer (SWMR) Prices Small IPO at $5 Mid-Point & Stock Soars on NASDAQ
Swarmer Inc., an Austin‑based drone‑software firm, priced its initial public offering at the $5 midpoint, selling 3 million shares to raise $15 million. On its Nasdaq debut, the stock opened at $12.50 and surged to an intraday high of $32.45, trading around...
Morning SPAC News Roundup: March 17, 2026
The March 17, 2026 SPAC News Roundup highlights a resurgence in special‑purpose acquisition company activity, with Q1 IPO volume climbing 12% year‑over‑year. New SEC guidance on de‑SPAC disclosures is reshaping transaction structures, while tech‑centric targets continue to dominate recent merger announcements. Investor...
Is Your Company Ready if Liquidity Returns?
CFOs are hearing early signs that liquidity is returning after years of capital scarcity, prompting a shift from cash preservation to strategic flexibility. The article urges finance leaders to assess whether their organizations are structurally prepared to deploy fresh capital...
Kuwait Returns To The Global Debt Market
Kuwait re‑entered the international sovereign market in September 2024, issuing an $11.25 billion eurobond – its first external debt sale since 2017. The issuance was enabled by a new debt law approved in March 2025 that authorises up to KD30 billion (≈$97 billion)...
Clifford Capital Raises First Australian Dollar IABS at A$455m
Clifford Capital, a Singapore‑based infrastructure credit platform, completed its inaugural Australian‑dollar Infrastructure Asset‑Backed Securities (IABS) issuance, raising A$455 million across four tranches. The deal marks the firm’s first foray into the Australian market and represents the largest private placement of IABS...
VFEX Launches Dedicated Platform to Support Early-Stage Miners and Drive Investment
The Victoria Falls Stock Exchange (VFEX) will launch a Venture Board, a dedicated listing segment for junior and exploration‑stage mining companies. The platform aims to give these high‑growth miners access to long‑term capital, countering Zimbabwe’s reliance on short‑term bank loans...
Navigating Insider Conflicts: A Delaware and Nevada Playbook
Cooley’s latest memo delivers a concise playbook for handling insider‑conflict transactions under Delaware and Nevada corporate law. Targeted at companies approaching or completing an IPO, the guide stresses that rigorous process and transparent disclosure outweigh post‑hoc legal defenses. It outlines...
AMC Added 28M Shares, Raising $33M in a Month
How fast is @CEOAdam issuing $AMC shares? Well we have a guide. The 10K contained this sentence. Shares of Class A common stock outstanding—529,547,465 shares at February 18, 2026 And the prospectus today contained this sentence: As of March 16, 2026, there were 557,955,745 shares...
St. Patrick's Day Chaos Mirrors Bear Stearns Collapse
St. Patrick's Day 2008. Bear Stearns. Gone. People walking out with boxes from their brand new 47th St building. Sound of bagpipes from 5th ave parade. Drunk kids stumbling out of grand central all over the streets. Satellite trucks and...
Noah Wyle, Other Industry Figures To Testify At Adam Schiff Hearing On Paramount-Warner Bros. Discovery Merger, Tax Incentives
Senator Adam Schiff is convening a spotlight hearing in Burbank to scrutinize Paramount’s proposed merger with Warner Bros. Discovery and the broader push for federal film‑production tax incentives. Actor Noah Wyle, IATSE President Matthew Loeb, policy researcher Jax Deluca, and...
Valuing Tokens After They Convert to Equity
If a token converts to equity, how do you think about the new valuation? https://t.co/sigF6mfZGm
Retail Investors Face Overpriced IPO Trap via S&P 500
What could end up being the biggest bagholder exercise of all time — the Operation Overlord of jamming retail investors with a comically overpriced IPO — is opening up on several early fronts. The latest is the S&P 500 index....
Brunswick Exploration Closes First Tranche of Non-Brokered Private Placement for Gross Proceeds of $4,195,000
Brunswick Exploration closed the first tranche of a non‑brokered private placement, raising $4,195,000 from 16,780,000 units priced at $0.25 each. Each unit includes one common share and half of a warrant, with additional finder warrants issued and $274,950 in finder...
Refinancing Wall: An Ever-Present Market Reality
Is there ever NOT a "refinancing wall"? Feel like I've been seeing charts like that for 20 years...
SEC Plans Semiannual Filings as Enforcement Chief Departs
SEC eyeing toward cutting disclosures from 4 times per year to 2 times per year. Its enforcement chief just quit after only 7 months.
China Tightens Hong Kong IPO Path, Targets Red‑Chip Firms
China is clamping down on a key route for Hong Kong IPOs after a boom in share sales While stopping short of an outright ban, regulators have recently discouraged IPO applications from so-called red-chip firms https://t.co/bDNaEtHWkS
Follow a 5‑Step Roll‑Up to Billion‑Dollar Exit
the roll-up in 5 levels: level 1: buy 1 business level 2: buy 3 competitors level 3: regional dominance level 4: national holdco level 5: $100M–$1B exit everything else is noise
LENSAR Ends Alcon Merger Amid FTC Opposition
Kudos sir - this was a good tweet LENSAR Announces Termination of Merger Agreement with Alcon Research "We understand that the Federal Trade Commission intends to seek to enjoin the acquisition" $LSNR $ALC