Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

SUN CORPORATION operates mainly Pachinko related business, information and communication business.  Pachinko related business includes developing, manufacturing and selling a system to control and monitor pachinko machine, and manage business operation.  Sun Corp. also manufactures Pachinko and household appliances and develops game software for family use.

<ul>
<li>Today, the final day of the Tender Offer that True Wind Capital launched on 10 June 2024 to buy 19% of <a href="https://www.smartkarma.com/entities/sun-corp" target="_blank" data-smartkarma-citation="entities:10803:1" rel="noopener">Sun Corp (6736 JP)</a>, TWC raised its price to ¥4,750/share./</li>
<li>They also lowered their minimum from 3.7934mm shares (17.0%) to 3.3472mm shares (15.0%).</li>
<li>As <a href="https://www.smartkarma.com/entities/cellebrite-di-ltd" target="_blank" data-smartkarma-citation="entities:37102:1" rel="noopener">Cellebrite DI (CLBT US)</a> had traded higher, SunCorp had too, and even though shares fell today, they are at ¥4,785/share.</li>
</ul>


Today, the final day of the Tender Offer that True Wind Capital launched on 10 June 2024 to buy 19% of Sun Corp (6736 JP), TWC raised its price to ¥4,750/share./
They also lowered their minimum from 3.7934mm shares (17.0%) to 3.3472mm shares (15.0%).
As Cellebrite DI (CLBT US) had traded higher, SunCorp had too, and even though shares fell today, they are at ¥4,785/share.


True Wind Raises Partial TOB Price for Sun Corp (6736 JP) By 8%. Not Enough.

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Equity Bottom-Up

Nu Ride Inc. designs and manufactures electric vehicles. The Company offers electric light duty and pickup trucks, and other vehicles. Nu Ride serves customers in the United States.

<ul><li>Nu Ride is a SPAC with $2.5 per share in cash and $1 billion in net operating losses</li><li>Company has $2.9 per share of net cash and $2.0 per share of perpetual preferred held by Foxconn</li><li>Ongoing litigation actions against Foxconn and former executives could result in potential increase in net cash value to $4.5 per share</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Nu Ride is a SPAC with $2.5 per share in cash and $1 billion in net operating lossesCompany has $2.9 per share of net cash and $2.0 per share of perpetual preferred held by FoxconnOngoing litigation actions against Foxconn and former executives could result in potential increase in net cash value to $4.5 per shareThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sun-corp" target="_blank" data-smartkarma-citation="entities:10803:1" rel="noopener">Sun Corp (6736 JP)</a> for years has been a play on its investment holding in <a href="https://www.smartkarma.com/entities/cellebrite-di-ltd" target="_blank" data-smartkarma-citation="entities:37102:1" rel="noopener">Cellebrite DI (CLBT US)</a>, brought to market in a $2.4bn SPAC deal announced 30Aug2021.  </li>
<li>The SPAC entity was an entity called TWC Tech Holdings II Corp (TWC = "True Wind Capital"). The next day, <a href="https://www.smartkarma.com/entities/cellebrite-di-ltd" target="_blank" data-smartkarma-citation="entities:37102:1" rel="noopener">Cellebrite DI (CLBT US)</a> was born, trading up to US$11.00+.</li>
<li>
<a href="https://www.smartkarma.com/entities/sun-corp" target="_blank" data-smartkarma-citation="entities:10803:1" rel="noopener">Sun Corp (6736 JP)</a>'s value realisation path had begun. Today, a True Winds entity announced a Partial Tender Offer - unsolicited, unannounced previously - on Sun Corp, for 19.0%.</li>
</ul>



Sun Corp (6736 JP) for years has been a play on its investment holding in Cellebrite DI (CLBT US), brought to market in a $2.4bn SPAC deal announced 30Aug2021.  
The SPAC entity was an entity called TWC Tech Holdings II Corp (TWC = "True Wind Capital"). The next day, Cellebrite DI (CLBT US) was born, trading up to US$11.00+.

Sun Corp (6736 JP)'s value realisation path had begun. Today, a True Winds entity announced a Partial Tender Offer - unsolicited, unannounced previously - on Sun Corp, for 19.0%.


Unsolicited Partial Offer for 19% of Sun Corp (6736 JP) - Play on Cellebrite from SPAC Sponsor

SPAC Deep Dive, subSPAC

subSPAC

SPAC Deep Dive

Each week we’ll identify and break down for you SPACs that are capturing market share and making an impact.

WinVest Acquisition Corp / Equity Bottom-Up

WinVest Acquisition Corp. operates as a blank check company. the company aims to acquire one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization.

<ul><li>The last week of SPACs was packed with activity, including deals, bankruptcies, and IPOs.</li><li>Two new deals are announced including a SPAC taking a digital commerce platform connecting buyers and sellers public, and a blank-cheque firm merging with a company producing large format projection screens for the entertainment industry.</li><li>Also, a used car retailer could declare bankruptcy three years after debuting through a SPAC, and an advanced nuclear fission company sees its shares plummet after completing a SPAC merger. </li></ul>

The last week of SPACs was packed with activity, including deals, bankruptcies, and IPOs.Two new deals are announced including a SPAC taking a digital commerce platform connecting buyers and sellers public, and a blank-cheque firm merging with a company producing large format projection screens for the entertainment industry.Also, a used car retailer could declare bankruptcy three years after debuting through a SPAC, and an advanced nuclear fission company sees its shares plummet after completing a SPAC merger. 

Matterport Inc. operates as a software company. The Company provides a 3D camera and interactive viewing platform which allows users to capture, upload, and create digital scans of real-world environments and share them online. Matterport serves customers worldwide.

<ul><li>The last week of SPACs was packed with activity including buyouts, amendments, and terminations.</li><li>A digital mapping firm gets a boost with an acquisition by a Real Estate firm, and a Rare Earth mining-focused firm rejects a buyout from a SPAC.</li><li>Also, a SPAC lowers the valuation of a deal with a biotech firm, and a UK-based blank-cheque firm terminates a deal with an engineering business. </li></ul>

The last week of SPACs was packed with activity including buyouts, amendments, and terminations.A digital mapping firm gets a boost with an acquisition by a Real Estate firm, and a Rare Earth mining-focused firm rejects a buyout from a SPAC.Also, a SPAC lowers the valuation of a deal with a biotech firm, and a UK-based blank-cheque firm terminates a deal with an engineering business. 

Insights on Special Purpose Acquisition Companies

SPACs
Insights on Special Purpose Acquisition Companies

True Wind Raises Partial TOB Price for Sun Corp (6736 JP) By 8%. Not Enough.

True Wind - the original SPAC sponsor for Cellebrite - has raised its Tender Offer Price for a stake in Sun Corp - owner of 50% of CLBT. They still...

Travis Lundy

Nu Ride (NRDE) - Friday, Mar 22, 2024

Nu Ride is a SPAC with $2.5 per share in cash and $1 billion in net operating losses. Company has $2.9 per share of net cash and $2.0 per share of...

Value Investors Club

The Art of the Deal

The last week of SPACs was packed with activity, including deals, bankruptcies, and IPOs. Two new deals are announced including a SPAC taking a...

subSPAC

Mapping New Territory

A digital mapping firm gets a boost with an acquisition by a Real Estate firm, and a Rare Earth mining-focused firm rejects a buyout from a SPAC.

subSPAC

True Wind Raises Partial TOB Price for Sun Corp (6736 JP) By 8%. Not Enough.

True Wind - the original SPAC sponsor for Cellebrite - has raised its Tender Offer Price for a stake in Sun Corp - owner of 50% of CLBT. They still...

Travis Lundy

Nu Ride (NRDE) - Friday, Mar 22, 2024

Nu Ride is a SPAC with $2.5 per share in cash and $1 billion in net operating losses. Company has $2.9 per share of net cash and $2.0 per share of...

Value Investors Club

Unsolicited Partial Offer for 19% of Sun Corp (6736 JP) - Play on Cellebrite from SPAC Sponsor

Sun Corp - long an illiquid activist/RV darling - now has a new suitor. The PE fund which sponsored the Cellebrite SPAC is bidding for 19.0%....

Travis Lundy

The Art of the Deal

The last week of SPACs was packed with activity, including deals, bankruptcies, and IPOs. Two new deals are announced including a SPAC taking a...

subSPAC

Mapping New Territory

A digital mapping firm gets a boost with an acquisition by a Real Estate firm, and a Rare Earth mining-focused firm rejects a buyout from a SPAC.

subSPAC