IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pointsbet-holdings-ltd" target="_blank" data-smartkarma-citation="entities:29102:1" rel="noopener">PointsBet Holdings (PBH AU)</a> has disclosed a revised <a href="https://www.smartkarma.com/entities/mixi-inc" target="_blank" data-smartkarma-citation="entities:602:1" rel="noopener">Mixi Inc (2121 JP)</a> offer at A$1.20, a 13.2% premium to the previous A$1.06 offer and a 10.6% premium to last close. </li>
<li>Due to Betr’s 19.9% stake, which can effectively block Mixi’s scheme, Mixi will consider an off-market takeover offer of A$1.20 with a 50.1% minimum acceptance condition. </li>
<li>Mixi’s revised offer is superior to Betr’s if synergies are not factored in. While the Betr’s all-cash offer is equivalent to Mixi’s, it is subject to scale-back.</li>
</ul>



PointsBet Holdings (PBH AU) has disclosed a revised Mixi Inc (2121 JP) offer at A$1.20, a 13.2% premium to the previous A$1.06 offer and a 10.6% premium to last close. 
Due to Betr’s 19.9% stake, which can effectively block Mixi’s scheme, Mixi will consider an off-market takeover offer of A$1.20 with a 50.1% minimum acceptance condition. 
Mixi’s revised offer is superior to Betr’s if synergies are not factored in. While the Betr’s all-cash offer is equivalent to Mixi’s, it is subject to scale-back.


PointsBet (PBH AU): Mixi Returns with a Revised Offer and a Potential Takeover Offer

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Equity Bottom-Up

<ul><li>Valuation should not be the main factor when considering shorting DKNG</li><li>Strong momentum in 2023 is waning, leading to focus on financials and valuation</li><li>Competition intensifying and low margins in sports betting market may pose challenges for DKNG as investors shift focus to financial performance</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Valuation should not be the main factor when considering shorting DKNGStrong momentum in 2023 is waning, leading to focus on financials and valuationCompetition intensifying and low margins in sports betting market may pose challenges for DKNG as investors shift focus to financial performanceThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Draftkings Inc (DKNG) - Monday, Apr 8, 2024

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>Games Global, a promising iGaming content provider and B2B online gaming supplier, set terms for its U.S. IPO. The IPO price is expected to be between $16 and $19/share.</li>
<li>With the most recent F-1/A, the company may raise ~$114M at the high end of the range at $19/share. Zinnia Limited sells additional 8.5M shares in this offering.   </li>
<li>Games Global has created an impressive portfolios of iGaming content through a series of successful acquisitions, and I see upside potential vs. IPO price of $17.50 at the midpoint.</li>
</ul>


Games Global, a promising iGaming content provider and B2B online gaming supplier, set terms for its U.S. IPO. The IPO price is expected to be between $16 and $19/share.
With the most recent F-1/A, the company may raise ~$114M at the high end of the range at $19/share. Zinnia Limited sells additional 8.5M shares in this offering.   
Games Global has created an impressive portfolios of iGaming content through a series of successful acquisitions, and I see upside potential vs. IPO price of $17.50 at the midpoint.


Games Global IPO: Strong Profitability and Impressive Portfolios of IGaming Content

Independent Investment Research & Investor, Maverick Equity Research

Maverick Equity Research

Independent Investment Research & Investor

Independent Investment Research & Investor: value, dividend and growth stocks. Risk management & hedging for an all weather portfolio.

Thematic (Sector/Industry)

<ul><li>All 6 ETFs positive in 2023 while ARKW ARKF ARKK ARKQ booming with 35%, 27%, 25% &amp; 17% respectively.</li><li>Risk appetite for the Innovation/Hyper Growth thematic is on!</li><li>Enhanced Price Action view: Ark 6 ETFs 2023 Returns &amp; Rebounders from their 52-week low + I added S&amp;P 500 (SPY) and the Nasdaq 100 (QQQ) for comparison</li></ul>

All 6 ETFs positive in 2023 while ARKW ARKF ARKK ARKQ booming with 35%, 27%, 25% &amp; 17% respectively.Risk appetite for the Innovation/Hyper Growth thematic is on!Enhanced Price Action view: Ark 6 ETFs 2023 Returns &amp; Rebounders from their 52-week low + I added S&amp;P 500 (SPY) and the Nasdaq 100 (QQQ) for comparison

SPAC Deep Dive, subSPAC

subSPAC

SPAC Deep Dive

Each week we’ll identify and break down for you SPACs that are capturing market share and making an impact.

<ul><li>Fantasy Sportbook Operator DraftKings saw its shares drop by 28% at the close on Friday, recording the worst in its trading history even as its management and CEO remained upbeat about the company's future.</li><li>What was surprising about the steep decline was the fact that the company beat analyst expectations both on the revenue and EPS front in its most recent quarter while also raising its full-year guidance.</li><li>The market remains skeptical about the company's business model and its decision to prioritize growth over profitability, a stark comparison to its peers who have cut costs in recent months.</li></ul>

Fantasy Sportbook Operator DraftKings saw its shares drop by 28% at the close on Friday, recording the worst in its trading history even as its management and CEO remained upbeat about the company's future.What was surprising about the steep decline was the fact that the company beat analyst expectations both on the revenue and EPS front in its most recent quarter while also raising its full-year guidance.The market remains skeptical about the company's business model and its decision to prioritize growth over profitability, a stark comparison to its peers who have cut costs in recent months.

United States

DraftKings Inc. operates as a daily fantasy sports contest and sports betting company. The Company allows users to enter daily and weekly fantasy sports-related contests and win money based on individual player performances in American sports. DraftKings serves customers in the United States.

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DraftKings (DKNG US)

PointsBet (PBH AU): Mixi Returns with a Revised Offer and a Potential Takeover Offer

If synergies are not factored in, Mixi’s revised offer is superior to Betr’s. The potential Mixi takeover offer will require Betr to revise terms...

Arun George

Draftkings Inc (DKNG) - Monday, Apr 8, 2024

Valuation should not be the main factor when considering shorting DKNG. Strong momentum in 2023 is waning, leading to focus on financials and...

Value Investors Club (VIC)

Games Global IPO: Strong Profitability and Impressive Portfolios of IGaming Content

The Isle of Man-based Games Global targets ~$2B IPO valuation. I like the company’s strong profitability/cash flow profile and see upside potential...

Andrei Zakharov

ARK Invest Short & Squeeze - Edition #3

All 6 ETFs positive in 2023 while ARKW ARKF ARKK ARKQ booming with 35%, 27%, 25% & 17% respectively. Risk appetite for the Innovation/Hyper Growth...

Maverick Equity Research

King No More

To its credit, DraftKings continues to benefit from the expanded legalization of gaming across the US and the lower customer acquisition costs in...

subSPAC

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