Corporate Agitators Slow Down in Second Quarter, Ready to Pounce in Second Half, Barclays Data Show (Reuters)
Following the busiest quarter on record, activist investors slowed down in the second three months of 2023 but are expected to mount more high-profile campaigns in the second half amid pent-up demand for acquisitions and a new way of voting. Investors including Elliott Investment Management, Engaged Capital and Legion Partners, launched 53 new campaigns around the world during the second quarter, down 32% from a record 78 campaigns in the first three months of 2023, according to data from investment bank Barclays (BARC.L).
Cryptanium Debuts New Digital Assets Hedge Fund (Hedge Week)
Cryptanium has launched Cryptanium Fund I, a new Cayman Islands regulated digital assets hedge fund with a strategy focused on “capital appreciation through deployment of trend-agnostic digital asset strategies seeking to capture yields and timed opportunities”. The fund will execute on-chain transactions and interact with decentralised finance protocols as well as digital asset derivative and hedging solution providers to achieve market neutrality.
3AC Liquidators Seeking $1.3 Billion from Founders: Report (CoinGeek)
The liquidators of Three Arrows Capital (3AC) are seeking $1.3 billion from Su Zhu and Kyle Davies, the two founders of the collapsed ‘crypto’ hedge fund, a new report reveals. The liquidators from New York-based consulting firm Teneo believe that the $1.3 billion reflects the losses the two founders accrued in the months before the hedge fund collapsed. Citing a source familiar with the matter, Bloomberg reports that the liquidators met on Tuesday to discuss the next steps in the liquidation process.
Wednesday 6/28 Insider Buying Report: DMAC, VERA (Nasdaq.com)
On Friday, DiaMedica Therapeutics’s Chief Business Officer, David J. Wambeke, made a $150,003 buy of DMAC, purchasing 38,364 shares at a cost of $3.91 a piece. Wambeke was up about 14.8% on the purchase at the high point of today’s trading session, with DMAC trading as high as $4.49 in trading on Wednesday. DiaMedica Therapeutics is trading off about 1.2% on the day Wednesday. Before this latest buy, Wambeke made one other buy in the past twelve months, purchasing $750,000 shares at a cost of $1.60 a piece. And at Vera Therapeutics, there was insider buying on Friday, by Chief Financial Officer Sean Grant who bought 5,000 shares for a cost of $16.60 each, for a total investment of $83,000. Before this latest buy, Grant made one other purchase in the past twelve months, buying $99,995 shares at a cost of $7.00 a piece. Vera Therapeutics is trading up about 3% on the day Wednesday. Grant was up about 9.7% on the buy at the high point of today’s trading session, with VERA trading as high as $18.21 at last check today.
$1.8B Bet On This US Electric Vehicle Maker? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Asana: The Trade: Asana, Inc. (ASAN) President, CEO and Chairman Dustin Moskovitz Adam Gray acquired a total of 160,000 shares an average price of $22.53. To acquire these shares, it cost around $3.6 million. Axon Enterprise: The Trade: Axon Enterprise, Inc. (AXON) Director) Hadi Partovi acquired a total of 25,000 shares at an average price of $191.10. To acquire these shares, it cost around $4.78 million.
