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

Quiddity Advisors

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sodick-co-ltd" target="_blank" data-smartkarma-citation="entities:3814:1" rel="noopener">Sodick Co Ltd (6143 JP)</a> announced a secondary equity offering yesterday. The stock is down 6% today because of that but that barely covers the dilution. </li>
<li>Yes, it is secondary, but nearly 40% of the offering is from secondary shares created from warrant conversion. AP bought dirt cheap warrants and a dirt cheap CB last year.</li>
<li>The Company benefits from AI Data Centre buildout, and isn't expensive. There's a buyback to mitigate supply, but that goes to show the AP deal was structurally a bad idea.</li>
</ul>



Sodick Co Ltd (6143 JP) announced a secondary equity offering yesterday. The stock is down 6% today because of that but that barely covers the dilution. 
Yes, it is secondary, but nearly 40% of the offering is from secondary shares created from warrant conversion. AP bought dirt cheap warrants and a dirt cheap CB last year.
The Company benefits from AI Data Centre buildout, and isn't expensive. There's a buyback to mitigate supply, but that goes to show the AP deal was structurally a bad idea.


[Japan Offering] Sodick (6143 JP) Offering by Crossholders and AP (Ouch); Cheap But A Mgmt Red Flag