Bullpen.News From Edwin Dorsey
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Wednesday, October 21, 2026

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@StableBread

Fajasy on X

$ATII now base:0x1a5f7931e5d450c666fd8706300b984fc4aeaba3 -- Forge Nano completed its de-SPAC merger and will list on NASDAQ on October 22, 2026. The merged company will receive $100M from the PIPE investor, who buys 2.97M shares, 7.03M pre-funded warrants (effectively shares), and 15M warrants at $10. An additional warrant reset could add more dilution if the stock is below $10 after six months, with a floor of $7.28 if a $200M debt deal is secured. Over 22 million SPAC shares were redeemed for $238.4M (approx. $10.73/share), leaving only $8.4M in the trust account for the combined company! Not the greatest as this significantly limits the cash available for operations and growth. On the other hand, the company has expanded its Taiwan semiconductor footprint, demonstrated a 1,000:1 coating demo, deeper Samsung SDI ties, a pharma JV with Nanexa, and broke ground on its North Carolina battery gigafactory. Wrote a deep dive here couple months ago btw: https://t.co/XchBCEYQ1q
@orrdavid 11 clicks

David Orr on X

The next 5 years could be an incredible stock picker's market. Long the companies that win from AI efficiencies but whos business is not threatened by AI. Companies who get to fire their lawyers and accountants etc but already have an impossible to beat scale advantage (because AI does not attack that scale advantage). Short the companies that lose from big AI threats. $RSP $SPY $IWM etc could go nowhere for 5 years while half the stocks trade down 70%, half trade up 70%.
@StableBread 2 clicks

Fajasy on X

$ATII now $NANO... Forge Nano completed its de-SPAC merger and will list on NASDAQ on October 22, 2026. The merged company will receive $100M from the PIPE investor, who buys 2.97M shares, 7.03M pre-funded warrants (effectively shares), and 15M warrants at $10. An additional warrant reset could add more dilution if the stock is below $10 after six months, with a floor of $7.28 if a $200M debt deal is secured. Over 22 million SPAC shares were redeemed for $238.4M (approx. $10.73/share), leaving only $8.4M in the trust account for the combined company! Not the greatest as this significantly limits the cash available for operations and growth. On the other hand, the company has expanded its Taiwan semiconductor footprint, demonstrated a 1,000:1 coating demo, deeper Samsung SDI ties, a pharma JV with Nanexa, and broke ground on its North Carolina battery gigafactory. Wrote a deep dive here couple months ago btw: https://t.co/XchBCEYQ1q

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Vicor Update, Part Three

Vicor’s $66.6 million in AI power-delivery royalties generated about $50 million of operating profit, eclipsing its module business as…

VICR $9.7B
CV's Substack 28 clicks

Carecloud News

CareCloud may attract a private-equity buyer after its Q3 call, with acquiring enough shares the main obstacle to a take-private deal.

CCLD $79M
Calvin Blissett 10 clicks

LXS.DE: a 2028 sale it can force

Lanxess can force Advent to buy at least half its Envalior stake in April 2028, potentially raising about €745 million to reduce net debt.

LPTH $525M
Trade Ideas Flow 21 clicks
ABG · long

Asbury Automotive Group INC

Asbury Automotive Group's changed setup and underperformance versus other public dealers form the basis for a renewed long thesis.

ABG $3.1B
Value Investors Club

💥Out of their depth💥

Leslie’s Q3 sales fell 8%, adjusted EBITDA dropped 32%, and withdrawn guidance left its 2028 term loan trading at 20 cents on the dollar.

LESL $1.6M
PETITION 1 click

EVC Update

EVC reported a solid second quarter and outlook.

EVC $584M
Nat Stewart - Stock Picking Newsletter 16 clicks

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