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] Soft99 Board Rebuts Effissimo's Rebuttal. Still An Awful "Fiduciary" Response

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

[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 MBO Sees Activist EffissimoOverbid by 66%! Will This Set New Precedent?

Quiddity Advisors

Event-Driven

<ul>
<li>On 25 September, with the stock trading just below Effissimo's terms, the <a href="https://www.smartkarma.com/entities/soft99-corp" target="_blank" data-smartkarma-citation="entities:18486:1" rel="noopener">Soft99 Corp (4464 JP)</a> Board came out AGAINST the Effissimo proposal 66% higher than the MBO terms.</li>
<li>The fine print said that the Soft99 deal had enough shares to get over the line assuming Keeper Labs tendered according to agreement due to Board Support. Shares plummeted. </li>
<li>Effissimo issued a stunning rebuttal which showed Board incompetence/negligence, possible breach of fiduciary duty. Today, MBO Bidco extended, the stock popped, but details are key.</li>
</ul>


On 25 September, with the stock trading just below Effissimo's terms, the Soft99 Corp (4464 JP) Board came out AGAINST the Effissimo proposal 66% higher than the MBO terms.
The fine print said that the Soft99 deal had enough shares to get over the line assuming Keeper Labs tendered according to agreement due to Board Support. Shares plummeted. 
Effissimo issued a stunning rebuttal which showed Board incompetence/negligence, possible breach of fiduciary duty. Today, MBO Bidco extended, the stock popped, but details are key.


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