Moonshot AI Targets Hong Kong IPO Amid Tight Scrutiny
China’s Moonshot AI Seeks Listing in Hong Kong Under Heightened Scrutiny—Markets will be watching to see if the company can replicate the success of recent listings by other Chinese AI companies @Tracyyyqu @raffaelehuang https://t.co/ECrREtfSD7 https://t.co/ECrREtfSD7
China Mulls Loosening Investor Limits to Aid Banks
Reuters: "China is considering easing shareholding restrictions for some major investors, people with knowledge of the matter said, in a move aimed at broadening capital-raising options for commercial banks reeling from an economic slowdown." https://t.co/HCdl6eFRCX
BDC Discounts Suggest Default Rates 5‑10× GFC Levels
Historical recovery rates for middle market direct lending is 65% to 85%. Currently, if one assumes this recovery rate holds, listed BDCs trading at an average -25% discount to NAV imply a 34% to 79% cumulative default rate, which is 5x...
Software Loans Keep Default Rates Below 2% Amid AI Panic
AI fears have flipped the direct lending business on its head. Historically, software has exhibited the lowest default rate in private credit at 1.4%, below the average of 2-3%. https://t.co/Ff7NdOcqJI
Sunway's 99.27% Win Clears Path for RM11B Deal
Sunway just crushed the IJM vote with a massive 99.27% win and the MACC finally got off their back. Is this RM11 billion deal unstoppable now? (Save this for later) 1. Shareholders aren't blinking. 2. The MACC drama is over. 3. Take it...
JPMorgan Unveils CDS Basket to Short Major Tech Debt
JP Morgan has launched a basket of credit default swaps designed to let hedge funds bet against the debt of $GOOGL, $AMZN, $ORCL, $META, and $MSFT 👀 https://t.co/snSNwBvm2p
SpaceX IPO Could Outraise All U.S. IPOs 2023‑24
If SpaceX raises $75 billion in its IPO, that would be more than all U.S. IPOs raised in 2023 and 2024 combined.
Weekend Angst Pushes 2s and 5s to Daily Lows
2s and 5s low of the day before the 7yr auction. Not too surprising after two tailing auctions but obviously weekend angst major driver.
Pernod Ricard Mulls Buying Jack Daniel’s Owner Amid Downturn
Bloomberg: "Pernod Ricard is exploring a potential acquisition of Brown-Forman, the owner of Jack Daniel’s whiskey, as alcoholic drink companies look at ways to consolidate amid an industry downturn, people familiar with the matter said. They have held some initial...
12 Defense Startups Poised for IPO After Swarmer Surge
Defense tech is surging. 🚀 After Swarmer’s 500%+ IPO pop, who’s next? Using Crunchbase predictive intelligence, @crunchbasenews identified 12 defense startups most likely to go public based on funding, hiring, and growth signals. See the list.👇 https://t.co/Pt0IqLUH5c
WBD Shareholders Vote April 23 on $110B Paramount Merger
That’s it! After being unanimously approved by both $WBD & $PSKY board of directors, WBD has now the date set for their shareholders to vote for or against #DavidEllison’s #Paramount deal to acquire WB: the special shareholders meeting is scheduled for...
WBD Schedules Shareholder Vote on Paramount‑Skydance Merger
Warner Bros. Discovery Sets Date for Shareholder Vote on Paramount Skydance Merger https://t.co/V3ENTx7eTr via @variety
Liberty's $475
Macro: convertible issuance funds growth but signals investor caution. Key: Liberty upsized $475M 0% convertibles due 2032, $37.44 conv (~30% premium). Risks: dilution, unsecured notes, redemption triggers. Trading insight: avoid new longs pre-conversion. — Viktor Kopylov, PhD, CFA More insights: t.me/si14Kopylov
Read This Acquisition Guide Early to Avoid Heartache
This book has a few too many TLAs (three letter acronyms) but it also contains valuable street wisdom in thinking about selling your company. Read it now, years before you want to sell, and save yourself time and heartache. Magic...
Low Retention, High Burn = No $50M Valuation
I talk to delusional Series A founders every day. So now, I just tell them this. If your company does under $10M ARR, burns over $200k/mo, and has low Gross Retention…you are not worth $50-100M to anyone. Doesn't matter what your...
SK Hynix Seeks US IPO, Targeting $14 Billion
SK Hynix files for US listing that source says could raise up to $14 billion https://t.co/QBH8wtKrug
Invesco Acquires Superstate Tokenized MMF, Marking Trad
BOOM: Invesco to Acquire Superstate's USTB Tokenized MMF Management One of first acquisitions of a crypto-native fund by TradFi asset manager. TradFi now majority of top 10 tokenized MMFs $2.2T asset manager Invesco acquiring management of $USTB ($950M AUM, 5th largest tokenized...
Morgan Stanley Sets $20 Target, 120% Upside for IMMX
$IMMX - Morgan Stanley initiates coverage with a $20 PT and an outperform rating, implying ~120% upside. https://t.co/Pd4uIH5BkI
Buyout Likely as Activists Target Governance, Shares Plunge
Market is ignoring the looming governance catalyst. Super-voting shares are being phased out as two activists build meaningful stakes, one owning a highly complementary peer. With shares at multi-year lows and the biz stabilizing, the path to a buyout is increasingly likely....
Brookfield Leads $9B Deal as M&A Spree Continues
Today's M&A notes $BLX.to to be acquired by Brookfield / La Caisse for $37.25 cash per share, 31.8% premium, $9.0 billion $TERN to be acquired by MRK for $53.00 cash per share, 6.0% premium, $5.7 billion $JHG / Trian bumped bid by 6.1%...
AI Agents Deliver Rapid, Superior Merger Arbitrage Insights
The $TERN / $MRK deal announced this morning provides a good case study on how Accelerate's AI agents quickly analyze a merger arbitrage investment opportunity: - Equity research agent: Paste target ticker. Agent generates an initiating coverage report on the target. -...
TERN's Termination Terms Hint MRK Could Be Outbid
For those wondering if $MRK might be outbid, here are the deal termination terms from $TERN https://t.co/TbM3rWyEoG
Merck Spends $6.7B on CML Drug Despite Gleevec Era
It's amazing that 25 years after Gleevec we are still watching drug companies pay billions for new drugs for CML. And that, in Adam's previous story, a once deadly cancer was referred to as a chronic disease. Anyway, $MRK buys $TERN...
Multiple Acquisitions Outpace Single‑business Grind for Massive Exits
while you’re spending 30 years grinding one business to sell it for 4x… someone else is acquiring 16 businesses in 7 years and exiting the entire platform at 10x.
Mid‑Market Players May Challenge SAP, Oracle in $600B M&A
With M&A potentially hitting $600B in 2026, will SAP and Oracle be the big buyers, or will new mid-market players emerge? While some startups may go public, giants like Microsoft seem less at risk due to their AI investments. ...
From RM1.30 Sushi to RM235M Empire IPO
You ate their RM1.30 sushi while they built a RM235M empire and now they want your money. Launch IPO Prospectus today, March 25, 2026. (Save this for later) The Summary List 1. The retail onslaught of Empire Premium. 2. Building a fortune on cheap localized...
Tern M&A Negotiations with Merck Need Better Valuation
$TERN M&A talks with $MRK Lot of upside positioning in it been highlighting, but need to see a stronger price tag https://t.co/MLOShQGHyF
Banks Are Deeply Embedded in Private Credit Markets
“They’re all our clients, but I’m shocked that people are shocked,” JPMorgan’s commercial and investment bank. Until 5 years ago, I legitimately thought that private credit was funded by investors not bank debt - all a big RWA/capital game by...
Banks Retract Private‑credit Short Strategy, Blame Media Hype
lol Along with JPMorgan, Bank of America had created a strategy for some clients to bet against stocks with exposure to private credit. But the bank quickly retracted it and apologized for the idea, with its research analysts later attributing the...
GSP Crop IPO Defies Advice, Posts Modest Gain
GSP Crop Science - IPO : Listedt Flat to Positive ✅ Much better listing compared to yesterday's IPO ⭐ It listed at ₹328 with (2% listing gain)⬆️ We asked to AVOID this IPO. ❌ @champ_trader
Private Credit's Circular Lending: Cliffwater Borrows From Itself
The circular relationships within the private credit ecosystem are fascinating. For example, Cliffwater invests in Carlyle's private credit fund. On the other end, Carlyle's private credit fund lends to Cliffwater (first lien loan shown below). So it appears that ultimately, Cliffwater is lending...
OpenAI Flags Microsoft Dependence as IPO Risk
Interesting: @OpenAI calls out @Microsoft reliance as risk in investor document ahead of expected IPO. cc @dvellante @furrier @dhinchcliffe @DavidLinthicum @MarshaCollier @waqasmakhdum https://t.co/dsbT4BKzZu
Selective Long on Rig-Count Breakout Amid HMH IPO
HMH files $231.4M US IPO (10.5M sh @ $19–22). Macro: energy recovery lifts services. Key: drilling-equipment focus; led by J.P. Morgan/Piper Sandler/Evercore. Risks: cyclicality, oil-price volatility. Trade: selective long on rig-count breakout 📈 — Viktor Kopylov, PhD, CFA More insights: t.me/si14Kopylov
EA's $15B Debt Oversubscribed, $25B Orders Signal Open Markets
$25B in orders on $EA’s $15B debt deal. Oversubscribed. Getting done. Capital markets are wide open… For the right issuers at the right price with the right Saudi SWF backstop.
Democratic Senators Push FCC Review of Paramount‑Warner Deal
Democratic Senators Demand FCC Conduct Foreign Investment Review of Paramount-Warner Bros. Deal Over Backing by Middle Eastern Funds, China’s Tencent https://t.co/hEDGRnqwMl via @variety
OpenAI's 17.5% Guaranteed Return Claim Seems Dubious
I have trouble believing that OpenAI is offering PE firms a "guaranteed minimum return of 17.5%" on preferred shares. This is the rate offered by highly distressed firms or those in contentious bankruptcies - not a firm operating as a going...
Treasury Auction Calendar Reveals Hidden Liquidity Map
This is a US Treasury auction schedule and it’s actually a liquidity map in disguise. Here’s the simple breakdown:
Avoid Innovision IPO: 25% Drop After Listing
Worst IPO Listing :(-25%) 🚨 Innovision IPO : Listed at ₹467 Listed at discount of 10% 🔻 After listing it slips below 25%📉 We asked to AVOID ❌ Stay connected for other IPO also. @champ_trader
Poste Italiane Bids €10.8bn for Telecom Italia
The re-Post Officication of telecoms was not something I expected to read this morning: Poste Italiane launches €10.8bn bid for Telecom Italia via @FT https://t.co/gR3vmnrlkX
Weak Stock Prices Fueled 2015, 2018 Buybacks, M&A
BofA: Weaker stock prices were behind the jump in share buybacks and M&A spending in 2015 and 2018. https://t.co/zOxaox8YSB
Blueprint for Building a $15B J&J Acquisition Target
How do you build a company that $JNJ will buy for $15 billion? Listen here.
Musk's Merged Empire Needs $100B or Faces Bankruptcy
It is solely done to paint a narrative where the combined Tesla/SpaceX company (yes, this is going to happen) will need to raise $100 billion to keep the party going for Musk a few years more If this doesn't happen, we...
Imminent Treasury Supply Surge Threatens Auction Failure
This is maybe not this week or even next month, but this is a failed auction waiting to happen. #TreasurySupply
Global Stocks Rebound, 2026 IPO Surge Looms, IRS Crumbling
🆓 Sunday links: the international stock turnaround, the 2026 IPO market, and the hollowed-out IRS. https://t.co/K7y1GDtIFd chart: https://t.co/1ZhwExGXjm https://t.co/HDuoFmgAEw
Fannie, Freddie Flood Market with Big MBS Bids
A bit of weekend announcement aimed at stabilising soaring mortgage rates FANNIE, FREDDIE PLACE LARGE BIDS FOR MORTGAGE-BACKED SECURITIES
US Banks Receive $200 Bn Capital Infusion
The $200bn capital boost to US banks. More on this in the Chartbook Top Links of today. https://t.co/Z0naICa1tz
Yahoo's 2005 Acquisition of Flickr Marks Early Photo‑Sharing Takeover
#ThisDayInTechHistory. March 21, 2005. Yahoo announces that it will acquire the popular photo service Flickr. #Technology #Takeovers #History https://t.co/GxEp7H0Jm9
Low-Float IPOs Typically Lag Market in Early Years
"It’s perhaps no coincidence that low-float IPOs tend to perform poorly in their early years. Since 1980, there have been 11 firms that went public with a sub-5% float and inflation-adjusted annual sales of at least $100 million. All but...
IPO Free Float Shares Rise Post‑lock‑up Period
"...in part because of post-IPO lock up periods, the median IPO’s free float share has typically climbed in the months following its launch." - Goldman https://t.co/bKTk8L4OEK
Broadcasters and Newsmax Seek Court Block on Nexstar‑Tegna Deal
Several state broadband associations -- plus @NEWSMAX -- today asked the U.S. Court of Appeals for the D.C. Circuit to block @NXSTMediaGroup-@TEGNA merger, which closed on March 19, 2026, the same day the $6.2 billion deal was approved by the...