Professional Special Situation Investor, TripleS Special Situation Investing

Triple S Special Situations Investing

Professional Special Situation Investor

TripleS Special Situation Investing

Professional Special Situation Investor with over 20 years of experience.

Thematic (Sector/Industry)

<ul><li>I mentioned this liquidation as one to watch a few months ago.</li><li>The board had just approved a plan of liquidation and guided to $29.73 to $37.69 a share of total distributions.</li><li>Shareholders approved the liquidation in June.</li></ul>

I mentioned this liquidation as one to watch a few months ago.The board had just approved a plan of liquidation and guided to $29.73 to $37.69 a share of total distributions.Shareholders approved the liquidation in June.

3 Mergers and 1 Liquidation in the Danger Zone

Equity Bottom-Up

Vizsla Silver Corp. provides mining services. The Company engages in the business of acquisition, exploration, and development of precious and base metal assets. Vizsla Silver serves customers worldwide.

<ul><li>TLDR: I own Vizsla Silver and I’m short the Dec 2026 $4 calls at $0.50 and long the Dec 2027 $5/$7.50 call spread at $0.40, a 6.25x max payoff if Panuco actually gets built.</li><li>On January 23, 2026, ten Vizsla Silver workers were kidnapped on the drive from their camp in Concordia, Sinaloa, to their future mine site.</li><li>Nine have since been found in mass graves and one is still missing.</li></ul>

TLDR: I own Vizsla Silver and I’m short the Dec 2026 $4 calls at $0.50 and long the Dec 2027 $5/$7.50 call spread at $0.40, a 6.25x max payoff if Panuco actually gets built.On January 23, 2026, ten Vizsla Silver workers were kidnapped on the drive from their camp in Concordia, Sinaloa, to their future mine site.Nine have since been found in mass graves and one is still missing.

Sangamo BioSciences, Inc. researches and develops transcription factors in the regulation of genes.  These transcription factors are the proteins that turn genes on and off and regulate gene expression by recognizing specific DNA sequences.

<ul><li>As many of you know, I cut my teeth on investing in bankruptcy dockets, but I very rarely get involved on the equity side of things.</li><li>I had a few of you reach out on this idea, but until last Friday I didn’t see a clear buy signal for owning this security.</li><li>Let’s walk through what has happened and why I am now in the mix as of this week.</li></ul>

As many of you know, I cut my teeth on investing in bankruptcy dockets, but I very rarely get involved on the equity side of things.I had a few of you reach out on this idea, but until last Friday I didn’t see a clear buy signal for owning this security.Let’s walk through what has happened and why I am now in the mix as of this week.

Domo, Inc. designs and develops enterprise software. The Company offers a cloud-based executive management platform that gives users direct and real-time access to business information in one place for several industries including media and marketing, telecommunication, retail, travel and leisure, technology, and financial services. Domo conducts business in the State of Utah.

<ul><li>On July 22, Domo sold its entire operating business to Progress Software for $400 million cash. What’s left is a stub, like the ContextLogic trade we did that is up 60% YTD.</li><li>Roughly $246 million of net cash, or $4.84 a share, plus more than $900 million of NOL carryforwards against a current stock price of $3.70.</li><li>I find the Jan 2028 $5 leaps for 22 cents to be interesting. You can also buy the stock at a significant discount to cash for reasons explained below.</li></ul>

On July 22, Domo sold its entire operating business to Progress Software for $400 million cash. What’s left is a stub, like the ContextLogic trade we did that is up 60% YTD.Roughly $246 million of net cash, or $4.84 a share, plus more than $900 million of NOL carryforwards against a current stock price of $3.70.I find the Jan 2028 $5 leaps for 22 cents to be interesting. You can also buy the stock at a significant discount to cash for reasons explained below.

Domo (Arigato), for This Potential Multi-Bagger Options Trade

Star Equity Holdings, Inc. is a diversified holding company with three divisions: Healthcare, Construction, and Investments.

<ul><li>Let me tell you about the one I chose not to discuss, which you can go locate if you want.</li><li>It’s a Chinese company, which has a founder led take private, that is highly illiquid and a 33% potential return in 4 months.</li><li>I think the deal will close, but most brokers are blocking opening transactions in the security due to Chyna, and I don’t want to talk about a security most of you can’t access.</li></ul>

Let me tell you about the one I chose not to discuss, which you can go locate if you want.It’s a Chinese company, which has a founder led take private, that is highly illiquid and a 33% potential return in 4 months.I think the deal will close, but most brokers are blocking opening transactions in the security due to Chyna, and I don’t want to talk about a security most of you can’t access.