Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

Macromill (3978 JP) - Five Major Investors Have 50+%; CVC Extends and Will Need to Bump Or Walk

CVC Bumps the Macromill (3978) Price, Declares Final, and That's That... Or Is It?

CVC Extends Macromill (3978) Bid and Invites Two Funds To Reinvest - More Interesting Than You Think

Quiddity Advisors

Event-Driven

<ul>
<li>Today, the last day of the ¥1,250 "Final Price" CVC Tender Offer for <a href="https://www.smartkarma.com/entities/macromill-inc" target="_blank" data-smartkarma-citation="entities:24026:1" rel="noopener">Macromill, Inc (3978 JP)</a>, CVC has bumped price to ¥1,275 and extended another two weeks.</li>
<li>In the process, they got agreement from GMO to tender their 12.1% and GMO gets to reinvest into an 18-19% position in the Bidco. </li>
<li>Investors are now competing against "activists" who aren't in public markets. 20.6% of the register don't like the ¥1,250-1,275 price either. But they aren't selling. They're re-buying there. You're not.</li>
</ul>


Today, the last day of the ¥1,250 "Final Price" CVC Tender Offer for Macromill, Inc (3978 JP), CVC has bumped price to ¥1,275 and extended another two weeks.
In the process, they got agreement from GMO to tender their 12.1% and GMO gets to reinvest into an 18-19% position in the Bidco. 
Investors are now competing against "activists" who aren't in public markets. 20.6% of the register don't like the ¥1,250-1,275 price either. But they aren't selling. They're re-buying there. You're not.


CVC Bump Higher (¥1,275) Than Their Final Price (¥1,250), Get GMO to Roll In Their 12.1%.