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

[Japan M&A/Activism] The Nagging Little Detail In the Soft99 MBO Extension Target Doc

[Japan M&A/Activism] Soft99 Board Comes Out Against Effissimo Bid 66% Above MBO Price

[Japan M&A/Activism] Soft99 Plummets, Rebounds, Activist Rebuts, KeePer Lab Holds, MBO Extends

[Japan M&A] 99Soft MBO at 52% Premium Is Too Light But A Bump May Be Tough

Quiddity Advisors

Event-Driven

<ul>
<li>In early August, the founder-family announced they would MBO the car care company <a href="https://www.smartkarma.com/entities/soft99-corp" target="_blank" data-smartkarma-citation="entities:18486:1" rel="noopener">Soft99 Corp (4464 JP)</a>. It was a very cheap MBO. Even 20% higher it would be cheap. </li>
<li>On Saturday, Kyodo, followed by various other media outlets, announced activist Effissimo Capital Management had announced a TOB to buy the company saying the MBO was "an extremely low level."</li>
<li>The <a href="https://www.nikkei.com/article/DGXZQOUF12A7D0S5A910C2000000/" target="_blank" rel="noopener">Nikkei-reported goal</a> would be "to protect the interests of minority shareholders while ensuring medium- to long-term increases in corporate value." This is REALLY BIG NEWS.</li>
</ul>


In early August, the founder-family announced they would MBO the car care company Soft99 Corp (4464 JP). It was a very cheap MBO. Even 20% higher it would be cheap. 
On Saturday, Kyodo, followed by various other media outlets, announced activist Effissimo Capital Management had announced a TOB to buy the company saying the MBO was "an extremely low level."
The Nikkei-reported goal would be "to protect the interests of minority shareholders while ensuring medium- to long-term increases in corporate value." This is REALLY BIG NEWS.


[Japan M&A/Activism] SOFT99 MBO Sees Activist EffissimoOverbid by 66%! Will This Set New Precedent?