Director, RaaS Advisory, Research as a Service (RaaS)

Research as a Service (RaaS)

Director, RaaS Advisory

Insightful Financial Models and Research Analysis

Connect to the right investors through smart and insightful financial models and research analysis.

Equity Bottom-Up

Qantm Intellectual Property / Equity Bottom-Up

<ul><li>QANTM Intellectual Property Ltd (ASX:QIP) has announced it has entered into a binding Scheme of Arrangement for an entity associated with Adamantem Capital to acquire all its shares for $1.817/share.</li><li>Shareholders will have the opportunity to elect to receive 100% cash or a combination of 50% cash, 50% scrip, subject to a scrip issuance cap of 24%.</li><li>The QANTM board can elect to pay a special dividend of up to $0.071/share, which will be included in the offer price and enable shareholders who are eligible to benefit from franking credits of up to $0.03/share.</li></ul>

QANTM Intellectual Property Ltd (ASX:QIP) has announced it has entered into a binding Scheme of Arrangement for an entity associated with Adamantem Capital to acquire all its shares for $1.817/share.Shareholders will have the opportunity to elect to receive 100% cash or a combination of 50% cash, 50% scrip, subject to a scrip issuance cap of 24%.The QANTM board can elect to pay a special dividend of up to $0.071/share, which will be included in the offer price and enable shareholders who are eligible to benefit from franking credits of up to $0.03/share.

Qantm Intellectual Property - Binding offer of $1.817/share accepted

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

Qantm Intellectual Property / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/qantm-intellectual-property" target="_blank" data-smartkarma-citation="entities:24317:1" rel="noopener">Qantm Intellectual Property (QIP AU)</a>'s non-binding proposal from <a href="https://www.smartkarma.com/entities/iph-ltd" target="_blank" data-smartkarma-citation="entities:2495:1" rel="noopener">IPH Ltd (IPH AU)</a> is at A$0.11 cash + 0.291 IPH shares per QIP share, a 4.5% premium to Adamantem’s A$1.817 offer.</li>
<li>Since announcing the Adamantem non-binding proposal on 14 March, the IPH offer has been 4.3% higher than the Adamantem offer on average. </li>
<li>The IPH proposal also requires approval from the ACCC and NZCC. The presence of two bidders increases the probability of a binding proposal (with a bump). </li>
</ul>



Qantm Intellectual Property (QIP AU)'s non-binding proposal from IPH Ltd (IPH AU) is at A$0.11 cash + 0.291 IPH shares per QIP share, a 4.5% premium to Adamantem’s A$1.817 offer.
Since announcing the Adamantem non-binding proposal on 14 March, the IPH offer has been 4.3% higher than the Adamantem offer on average. 
The IPH proposal also requires approval from the ACCC and NZCC. The presence of two bidders increases the probability of a binding proposal (with a bump). 


Qantm IP (QIP AU): IPH Enters the Fray with a Competing Offer

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>It always seemed like a question of when, not if, <a href="https://www.smartkarma.com/entities/iph-ltd" target="_blank" data-smartkarma-citation="entities:2495:1" rel="noopener">IPH (IPH AU)</a> would make an Offer for <a href="https://www.smartkarma.com/entities/qantm-intellectual-property" target="_blank" data-smartkarma-citation="entities:24317:1" rel="noopener">QANTM (QIP AU)</a>. IPH previously approached QANTM in 2018, but was spurned.</li>
<li>Capitalising on ongoing extensions to Adamantem's exclusivity, as it relates to its all-cash A$1.817/share Offer by way of a Scheme, IPH has now tabled an all-scrip, plus A$0.11/share dividend <a href="https://announcements.asx.com.au/asxpdf/20240508/pdf/063c31fpygftp0.pdf" target="_blank" rel="noopener">NBIO</a>.</li>
<li>IPH's implied Scheme value of A$1.90/share is a premium to Adamantem's proposal. The catch: apart from terms being indicative, IPH's Offer requires ACCC and NZCC clearance.</li>
</ul>


It always seemed like a question of when, not if, IPH (IPH AU) would make an Offer for QANTM (QIP AU). IPH previously approached QANTM in 2018, but was spurned.
Capitalising on ongoing extensions to Adamantem's exclusivity, as it relates to its all-cash A$1.817/share Offer by way of a Scheme, IPH has now tabled an all-scrip, plus A$0.11/share dividend NBIO.
IPH's implied Scheme value of A$1.90/share is a premium to Adamantem's proposal. The catch: apart from terms being indicative, IPH's Offer requires ACCC and NZCC clearance.


QANTM (QIP AU): IPH Wades In As Adamantem Tarries

<ul>
<li>On the 27th Feb, <a href="https://www.smartkarma.com/entities/qantm-intellectual-property" target="_blank" data-smartkarma-citation="entities:24317:1" rel="noopener">Qantm Intellectual Property (QIP AU)</a> announced a NBIO from UK-based Rouse International; but opted not to disclose price, DD, or even if this was a cash/scrip Offer.</li>
<li>Then on the 12th March, Qantm announced a NBIO from Adamantem Capital, by way of a Scheme, of $1.817/share in cash or with a scrip election of up to 50%</li>
<li>Qantm secured a trading halt yesterday morning, presumably to flesh out the best Offer for shareholders. Will <a href="https://www.smartkarma.com/entities/iph-ltd" target="_blank" data-smartkarma-citation="entities:2495:1" rel="noopener">IPH Ltd (IPH AU)</a> throw its hat into the ring, again?</li>
</ul>


On the 27th Feb, Qantm Intellectual Property (QIP AU) announced a NBIO from UK-based Rouse International; but opted not to disclose price, DD, or even if this was a cash/scrip Offer.
Then on the 12th March, Qantm announced a NBIO from Adamantem Capital, by way of a Scheme, of $1.817/share in cash or with a scrip election of up to 50%
Qantm secured a trading halt yesterday morning, presumably to flesh out the best Offer for shareholders. Will IPH Ltd (IPH AU) throw its hat into the ring, again?


Qantm Weighs Rouse's And Adamantem's Proposals

<ul>
<li>The <a href="https://www.afr.com/street-talk/adamantem-takes-second-swing-at-qantm-ip-offer-pegged-at-58pc-premium-20240311-p5fbk1" target="_blank" rel="noopener">AFR reports</a> that Adamantem Capital had submitted a non-binding indicative offer for <a href="https://www.smartkarma.com/entities/qantm-intellectual-property" target="_blank" data-smartkarma-citation="entities:24317:1" rel="noopener">Qantm Intellectual Property (QIP AU)</a> at A$1.817 per share, a 30.7% premium to the last close. </li>
<li>In response to a <a href="https://www.afr.com/street-talk/qantm-intellectual-property-snares-bid-ma-moelis-on-scene-20240226-p5f7wp" target="_blank" rel="noopener">previous AFR article</a>, Qantm disclosed a non-binding indicative offer from Rouse but declined to reveal a price or the structure (cash or scrip). </li>
<li>AFR reports that other potential interested parties, such as Quadrant Private Equity and IPH, are also in the running. Adamantem’s attractive offer sets a high bar for other potential bidders. </li>
</ul>


The AFR reports that Adamantem Capital had submitted a non-binding indicative offer for Qantm Intellectual Property (QIP AU) at A$1.817 per share, a 30.7% premium to the last close. 
In response to a previous AFR article, Qantm disclosed a non-binding indicative offer from Rouse but declined to reveal a price or the structure (cash or scrip). 
AFR reports that other potential interested parties, such as Quadrant Private Equity and IPH, are also in the running. Adamantem’s attractive offer sets a high bar for other potential bidders. 


Qantm IP (QIP AU): Adamantem’s Rumoured Non-Binding Proposal at A$1.817

Australia

QANTM Intellectual Property Limited operates in the commercial services industry. The Company offers services for patent, design, trademark procurement, and other related intellectual properties throughout Australia.

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Qantm Intellectual Property (QIP AU)

Qantm IP (QIP AU): IPH Enters the Fray with a Competing Offer

The presence of two bidders increases the probability of a binding proposal (with a bump). At the last close, the gross spread to the IPH offer is...

Arun George

QANTM (QIP AU): IPH Wades In As Adamantem Tarries

Trading at a gross spread of 1.7% to Adamantem's terms, and 6.3% to IPH's. Both Offers are indicative. I'd be picking up shares around here. I...

David Blennerhassett

Qantm Weighs Rouse's And Adamantem's Proposals

Qantm is in play. I can see the board supporting Adamantem's proposal, if firmed. I can also see Rouse dropping out. Plus you have IPH watching...

David Blennerhassett

Qantm IP (QIP AU): Adamantem’s Rumoured Non-Binding Proposal at A$1.817

Rouse is conducting due diligence, but AFR reports that other potential interested parties, such as Quadrant and IPH, are also in the running....

Arun George

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Qantm Intellectual Property - Binding offer of $1.817/share accepted

QANTM Intellectual Property Ltd (ASX:QIP) has announced it has entered into a binding Scheme of Arrangement for an entity associated with...

Research as a Service (RaaS)

Qantm IP (QIP AU): IPH Enters the Fray with a Competing Offer

The presence of two bidders increases the probability of a binding proposal (with a bump). At the last close, the gross spread to the IPH offer is...

Arun George

QANTM (QIP AU): IPH Wades In As Adamantem Tarries

Trading at a gross spread of 1.7% to Adamantem's terms, and 6.3% to IPH's. Both Offers are indicative. I'd be picking up shares around here. I...

David Blennerhassett

Qantm Weighs Rouse's And Adamantem's Proposals

Qantm is in play. I can see the board supporting Adamantem's proposal, if firmed. I can also see Rouse dropping out. Plus you have IPH watching...

David Blennerhassett

Qantm IP (QIP AU): Adamantem’s Rumoured Non-Binding Proposal at A$1.817

Rouse is conducting due diligence, but AFR reports that other potential interested parties, such as Quadrant and IPH, are also in the running....

Arun George