US-EU Index Rebalances / Quantitative Researcher, Ortex

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

Ortex

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Event-Driven

ServiceTitan, Inc. provides software solutions. The Company develops a trade platform that offer collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings tradespeople like local plumber, roofer, landscaper, HVAC technician, and others who are employed in the trades.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/servicetitan-inc" target="_blank" data-smartkarma-citation="entities:44109:1" rel="noopener">ServiceTitan (TTAN US)</a> is ineligible for the one Global Index for the next 12 months due to undisclosed shareholdings which remain locked for one year following the IPO.</li>
<li>
<a href="https://www.smartkarma.com/entities/servicetitan-inc" target="_blank" data-smartkarma-citation="entities:44109:1" rel="noopener">ServiceTitan (TTAN US)</a> is ineligible for the next 6 months for the US and the other Global Index because it fails public voting rights.</li>
<li>
<a href="https://www.smartkarma.com/entities/servicetitan-inc" target="_blank" data-smartkarma-citation="entities:44109:1" rel="noopener">ServiceTitan's</a> earliest addition is forecasted for September 2025 in the one Global Index following the IPO lock-up expiry unless there is a material conversion of unlisted shares.</li>
</ul>



ServiceTitan (TTAN US) is ineligible for the one Global Index for the next 12 months due to undisclosed shareholdings which remain locked for one year following the IPO.

ServiceTitan (TTAN US) is ineligible for the next 6 months for the US and the other Global Index because it fails public voting rights.

ServiceTitan's earliest addition is forecasted for September 2025 in the one Global Index following the IPO lock-up expiry unless there is a material conversion of unlisted shares.


ServiceTitan (TTAN US): Lock-Ups Prevent Inclusion in US & Global Indices

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

TEGNA Inc. is an international broadcasting and digital media company. The Company owns and operates television and radio stations, delivering news and informative content. TEGNA also provides digital marketing solutions in the automotive, human capital and digital marketing industries for individuals and businesses.

<ul><li>TEGNA Inc., a media company with significant holdings in television broadcasting, has reported its third quarter results for 2024, presenting a mixed picture of performance, challenges, and strategic repositioning.</li><li>The results were delivered by the company’s new CEO, Mike Steib, and CFO, Julie Heskett, who outlined both achievements and areas of focus moving forward.</li><li>On the positive side, TEGNA experienced a 13% year-over-year increase in total revenue, reaching $807 million, surpassing the company’s guidance range of 9% to 12% growth.</li></ul>

TEGNA Inc., a media company with significant holdings in television broadcasting, has reported its third quarter results for 2024, presenting a mixed picture of performance, challenges, and strategic repositioning.The results were delivered by the company’s new CEO, Mike Steib, and CFO, Julie Heskett, who outlined both achievements and areas of focus moving forward.On the positive side, TEGNA experienced a 13% year-over-year increase in total revenue, reaching $807 million, surpassing the company’s guidance range of 9% to 12% growth.

Tegna Is Increasing Local Sports Rights Opportunities But Is It Enough? - Major Drivers

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Hyundai Motor Securities Co. Ltd. provides securities dealing, brokerage, and underwriting services to its clients.  The Company also offers other financial services, such as futures and options trading, loans, beneficial certificates, mutual funds, and online trading.

<ul>
<li>After the market close on 12 December, the Financial Supervisory Service (FSS) put a break on Hyundai Motor Securities’ rights offering worth 200 billion won.</li>
<li>The proposed rights offering included issuing 30.1 million new shares, representing 95% of its current outstanding shares (31.7 million).</li>
<li>We would try to capitalize on the short term bullish upside on its shares of Hyundai Motor Securities and sell into strength.  </li>
</ul>


After the market close on 12 December, the Financial Supervisory Service (FSS) put a break on Hyundai Motor Securities’ rights offering worth 200 billion won.
The proposed rights offering included issuing 30.1 million new shares, representing 95% of its current outstanding shares (31.7 million).
We would try to capitalize on the short term bullish upside on its shares of Hyundai Motor Securities and sell into strength.  


FSS Puts a Break on Hyundai Motor Securities Rights Offering

Research Coverage on Small and Micro-Cap Companies, Zacks Small Cap Research

Zacks Small Cap Research

Research Coverage on Small and Micro-Cap Companies

Zacks Small Cap Research provides research coverage on small- and micro-cap companies that are “under-followed” or “under-valued” by Wall Street. We produce high quality equity research for the institutional and retail investor on microcap firms we believe are well positioned for future growth. The Zacks SCR analyst team has an average of 20 years of experience in investment research. We conduct significant due diligence in an effort to maintain the highest quality small-cap universe.

CytoSorbents Corp. is involved in the research, development and commercialization of medical devices with its platform blood purification technology. The Company focuses on developing this technology for multiple applications in the medical field for the treatment of  acute and chronic health complications associated with blood toxicity.

<ul><li>CytoSorbents is commercializing its E.U. approved CytoSorb blood purification technology to treat life-threatening conditions in the intensive care unit and cardiac surgery.</li><li>The company also seeks U.S. and Canadian approval of a second product, DrugSorb-ATR, to reduce perioperative bleeding risk in patients on blood thinners during cardiac surgery.</li><li>Based on the results of its pivotal U.S. and Canadian STAR-T trial, the company submitted for FDA De Novo approval on September 27, 2024, and Health Canada on November 1, 2024, with regulatory decisions expected in 2025.</li></ul>

CytoSorbents is commercializing its E.U. approved CytoSorb blood purification technology to treat life-threatening conditions in the intensive care unit and cardiac surgery.The company also seeks U.S. and Canadian approval of a second product, DrugSorb-ATR, to reduce perioperative bleeding risk in patients on blood thinners during cardiac surgery.Based on the results of its pivotal U.S. and Canadian STAR-T trial, the company submitted for FDA De Novo approval on September 27, 2024, and Health Canada on November 1, 2024, with regulatory decisions expected in 2025.

CTSO: CytoSorbents announces a Rights Offering for investors who hold or buy stock by tomorrow (12/13/24) which has the potential to substantially increase available liquidity.

Equity Capital Markets

Korea Zinc Co., Ltd. specializes in non-ferrous metal smelting industry.  The Company manufactures zinc ingots, electrolytic gold, silver, lead, sulfuric acid, and copper.  Korea Zinc provides its products to domestic and overseas markets.

<ul>
<li>In this insight, we review the major rights offerings/capital raises that were announced in Korea in 2024.</li>
<li>In general, the major rights offerings/capital raises tend to result in lower share prices one month, three months, and over a longer time frame. </li>
<li>There are some exceptions. Peptron and ABL Bio experienced higher share prices even after their capital raise announcements, especially after a longer time frame (3 months or more).</li>
</ul>


In this insight, we review the major rights offerings/capital raises that were announced in Korea in 2024.
In general, the major rights offerings/capital raises tend to result in lower share prices one month, three months, and over a longer time frame. 
There are some exceptions. Peptron and ABL Bio experienced higher share prices even after their capital raise announcements, especially after a longer time frame (3 months or more).


A Review of Rights Offerings/Capital Raise Announcements in Korea in 2024

Rights Issues
Corporate rights issuance analysis

ServiceTitan (TTAN US): Lock-Ups Prevent Inclusion in US & Global Indices

ServiceTitan (TTAN US) is ineligible for US & Global indices for the next 6-12 months due to locked IPO and undisclosed shareholders which result...

Dimitris Ioannidis

Tegna Is Increasing Local Sports Rights Opportunities But Is It Enough? - Major Drivers

TEGNA Inc., a media company with significant holdings in television broadcasting, has reported its third quarter results for 2024, presenting a...

Baptista Research

FSS Puts a Break on Hyundai Motor Securities Rights Offering

After the market close on 12 December, the Financial Supervisory Service (FSS) put a break on Hyundai Motor Securities’ rights offering worth 200...

Douglas Kim

CTSO: CytoSorbents announces a Rights Offering for investors who hold or buy stock by tomorrow (12/13/24) which has the potential to substantially increase available liquidity.

CytoSorbents is commercializing its E.U. approved CytoSorb blood purification technology to treat life-threatening conditions in the intensive...

Zacks Small Cap Research

A Review of Rights Offerings/Capital Raise Announcements in Korea in 2024

We review the major rights offerings/capital raises that were announced in Korea in 2024. In general, the major rights offerings/capital raises...

Douglas Kim

ServiceTitan (TTAN US): Lock-Ups Prevent Inclusion in US & Global Indices

​ServiceTitan (TTAN US) is ineligible for US & Global indices for the next 6-12 months due to locked IPO and undisclosed shareholders which result...

Dimitris Ioannidis

Tegna Is Increasing Local Sports Rights Opportunities But Is It Enough? - Major Drivers

TEGNA Inc., a media company with significant holdings in television broadcasting, has reported its third quarter results for 2024, presenting a...

Baptista Research

FSS Puts a Break on Hyundai Motor Securities Rights Offering

After the market close on 12 December, the Financial Supervisory Service (FSS) put a break on Hyundai Motor Securities’ rights offering worth 200...

Douglas Kim

CTSO: CytoSorbents announces a Rights Offering for investors who hold or buy stock by tomorrow (12/13/24) which has the potential to substantially increase available liquidity.

CytoSorbents is commercializing its E.U. approved CytoSorb blood purification technology to treat life-threatening conditions in the intensive...

Zacks Small Cap Research

A Review of Rights Offerings/Capital Raise Announcements in Korea in 2024

We review the major rights offerings/capital raises that were announced in Korea in 2024. In general, the major rights offerings/capital raises...

Douglas Kim

ServiceTitan (TTAN US) is ineligible for US & Global indices for the next 6-12 months due to locked IPO and undisclosed shareholders which result...