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

Lifedrink Company (2585 JP) Ascends to TSE Prime and TOPIX But An Offering Produces Overhang

Quiddity Advisors

Equity Capital Markets

<ul>
<li>Today post-close, <a href="https://www.smartkarma.com/entities/lifedrink-co-inc" target="_blank" data-smartkarma-citation="entities:39842:1" rel="noopener">Lifedrink (2585 JP)</a> announced the Sunrise PE funds which own 22% of the company will sell their stake in a clean-up offering with pricing in 8 days.</li>
<li>This offering comes 8 trading days after a new post-earnings all-time-high. At 24x ADV, the offering will increase Max Real World Float by 50+%. </li>
<li>There are some index and buyback supply/demand dynamics to note. It's a heavy offering, so bullish/bearish may be a matter of horizon.</li>
</ul>


Today post-close, Lifedrink (2585 JP) announced the Sunrise PE funds which own 22% of the company will sell their stake in a clean-up offering with pricing in 8 days.
This offering comes 8 trading days after a new post-earnings all-time-high. At 24x ADV, the offering will increase Max Real World Float by 50+%. 
There are some index and buyback supply/demand dynamics to note. It's a heavy offering, so bullish/bearish may be a matter of horizon.


[Japan ECM] Lifedrink (2585) - Fast-Growing Beverage Seller Meets P.E. Firm Selldown