Edgen
Try Ed Free
Tom Brennan - Markets Reporter at Edgen

Tom Brennan

Markets Reporter

IPOs, M&A, and shareholder activism. Covered deal flow at Dealogic before switching to journalism. Still thinks in multiples.new
Latest
Netflix announced its first-ever full theatrical release for Greta Gerwig's 'Narnia: The Magician's Nephew,' signaling a major strategy shift for the streaming giant with a 49-day exclusive window.

Netflix Pivots to Theaters With 49-Day ‘Narnia’ Exclusive Run

**Key Takeaways:** * Netflix will release Greta Gerwig’s “Narnia: The Magician’s Nephew” exclusively in theaters for 49 days starting Feb. 12, 2027. * This marks the first time the streaming-first company has committed to a wide global theatrical release, a move praised by theater chains like AMC. * The strategic pivot aims to open new box-office revenue streams and attract top filmmaking talent who prioritize the cinematic experience.
tom-brennan
·
May 01 2026
Reservoir Media's independent special committee has retained Morgan Stanley as its financial advisor and Wachtell, Lipton, Rosen & Katz as legal counsel to evaluate non-binding acquisition proposals.

Reservoir Media Taps Morgan Stanley to Weigh Takeover Bids Up to $11

**Reservoir Media's special committee has retained Morgan Stanley as it evaluates competing non-binding takeover proposals from Irenic Capital and a Richmond Hill-Wesbild consortium, signaling a potential bidding contest for the music rights owner.**
tom-brennan
·
May 01 2026
Spanish Mountain Gold Ltd. announced the closing of the first tranche of its royalty sale to Wheaton Precious Metals Corp., receiving US$22.5 million to advance its gold project in British Columbia.

Spanish Mountain Gold Secures $22.5 Million in First Tranche of Royalty Deal

**Key Takeaways:** * Spanish Mountain Gold closed the first US$22.5 million tranche of a US$55 million royalty financing deal with Wheaton Precious Metals. * The deal grants Wheaton a 1.5% net smelter royalty on future gold and silver production from the Spanish Mountain Gold Project. * Funding is structured in three tranches tied to specific project milestones, including drilling progress and environmental approvals.
tom-brennan
·
May 01 2026
Republic Technologies Inc. was issued a management cease trade order after failing to file its annual financial statements by the April 30, 2026 deadline.

Republic Technologies Gets Cease Trade Order After Missing Filing by 1 Day

* Republic Technologies missed its April 30 deadline for filing annual financial statements, citing the need for an expanded audit review of complex transactions. * A management cease trade order effective May 1 now bars the company's CEO, CFO, and COO from trading, though other shareholders are unaffected. * The company expects to complete and file the required financial documents on or before June 29, 2026.
tom-brennan
·
May 01 2026
GameStop is reportedly preparing an acquisition offer for eBay, a move that could dramatically reshape the e-commerce landscape and is part of CEO Ryan Cohen's ambitious plan to significantly boost GameStop's market value.

GameStop Eyes eBay Takeover in Bid for $100 Billion Market Cap

**Key Takeaways:** * GameStop is preparing an acquisition offer for eBay, a company with a market capitalization of about $46 billion, roughly four times its own size. * The move is part of CEO Ryan Cohen's ambitious plan to transform GameStop into a company with a market capitalization of over $100 billion. * EBay's shares surged over 10% in after-hours trading following the news, while GameStop's shares rose about 5%.
tom-brennan
·
May 01 2026
DigitalBridge Group announced its subsidiaries have priced a $300 million offering of secured notes to refinance existing debt.

DigitalBridge Prices $300 Million in Notes to Refinance Existing Debt

**Key Takeaways:** * DigitalBridge priced a $300 million offering of secured notes with a 6.326% interest rate, maturing in 2031. * Proceeds will be used to repay the company's outstanding Series 2021-1 notes in a debt refinancing maneuver. * The deal includes an additional $100 million revolving credit facility and is expected to close on May 11, 2026.
tom-brennan
·
May 01 2026
Lockheed Martin has been awarded a contract by the U.S. Space Force to develop capabilities for the Space-Based Interceptor (SBI) program, part of a new layered missile defense strategy.

Lockheed Martin wins key Space Force deal for 2028 missile interceptor

**Key Takeaways:** * Lockheed Martin was selected by the U.S. Space Force to develop its Space-Based Interceptor (SBI) program, a key component of the planned "Golden Dome" missile defense architecture. * The contract aims to deliver an integrated demonstration of the new interceptor capability by 2028 as part of an effort to counter hypersonic missile threats. * The broader Golden Dome project carries cost estimates ranging from the White House's $175 billion projection to as high as $3.6 trillion, signaling a substantial long-term investment cycle.
tom-brennan
·
May 01 2026
Thomson Reuters announced a cash distribution of US$1.435518 per share and a reverse stock split, with shares to trade on a post-consolidated basis starting May 4, 2026.

Thomson Reuters Details $1.44 Cash Payout in Share Consolidation Plan

**Key Takeaways:** * Participating shareholders to receive a cash distribution of US$1.435518 per common share. * The company will consolidate shares at a ratio of 1 pre-consolidation share for 0.984560 post-consolidation shares. * Shares will begin trading on the TSX and Nasdaq on a post-consolidated basis on May 4, 2026.
tom-brennan
·
May 01 2026
Cailian News Agency reported on May 2nd that GameStop is considering submitting a takeover offer for eBay as early as May, causing GameStop's stock to rise over 4% in after-hours trading.

GameStop Surges 4% on Report of Potential eBay Takeover Bid

**GameStop is reportedly exploring a takeover of eBay, a move that would pit the much smaller video game retailer against an e-commerce giant.**
tom-brennan
·
May 01 2026
Singapore-based electric vehicle technology firm SingAuto Inc. has entered a definitive agreement to merge with special purpose acquisition company Blueport Acquisition Ltd. (Nasdaq: BPAC), in a transaction valuing SingAuto at $1.2 billion.

SingAuto to go public in $1.2 billion SPAC deal with Blueport

**Key Takeaways:** * Singapore-based SingAuto Inc. will merge with Blueport Acquisition Ltd. (Nasdaq: BPAC) in a deal valuing the electric vehicle technology firm at $1.2 billion. * SingAuto shareholders are set to receive 120 million shares in the newly formed public company, priced at an implied $10.00 per share. * The transaction is expected to close by the end of 2026, pending regulatory and shareholder approvals, and will list the combined entity on Nasdaq.
tom-brennan
·
May 01 2026
Auditors for Brightline have expressed significant doubt about the passenger railroad's ability to continue operations, as the company lacks the necessary funds to service its $5.5 billion in debt.

Brightline Florida faces bankruptcy risk amid $5.5 billion debt woes

### Key Takeaways * Auditors for Brightline have raised "substantial doubt" about the company's ability to continue as a going concern, citing a lack of liquidity to service its debt. * The private passenger railroad is currently negotiating with creditors to restructure its $5.5 billion debt load and is actively seeking to raise additional capital to avoid bankruptcy. * Despite the financial distress, Brightline reported a 21% increase in ridership and a 14% rise in revenue in its most recent monthly update, suggesting operational improvements.
tom-brennan
·
May 01 2026
On May 1, 2026, stockholders of Farmer Brothers Coffee Co. (NASDAQ: FARM) approved the proposed acquisition of the company by Royal Cup during a special meeting.

Farmer Brothers shareholders approve Royal Cup acquisition, deal to close by May 6

* Farmer Brothers stockholders approved the company's acquisition by Royal Cup in a special meeting on May 1. * The transaction is expected to close by Wednesday, May 6, subject to customary closing conditions. * Farmer Brothers will become a private company and its shares will no longer trade on the Nasdaq.
tom-brennan
·
May 01 2026
Urban One's stock surged after the company announced an agreement to acquire two Dallas radio stations, KKDA and KRNB, while selling its existing station KZMJ.

Urban One Stock Soars 15% on Dallas Radio Expansion

* Urban One will acquire two Dallas radio stations, KKDA and KRNB, from Service Broadcasting Group, expanding its footprint in the nation's fifth-largest media market. * The company will divest its existing Dallas station, KZMJ, to Fuzion Dallas, LLC as part of a strategic realignment in the region. * Investors reacted positively, sending Urban One's Class A common stock (UONE) up more than 15% as the deal is expected to be accretive and scale its local presence.
tom-brennan
·
May 01 2026
Law firm Ademi LLP announced it is investigating The Clorox Company for possible securities fraud related to potentially inaccurate statements about its financial statements, business operations, and prospects.

Clorox Faces Fraud Investigation From 1 Law Firm After Alleged Misstatements

Ademi LLP has opened an investigation into The Clorox Company regarding potential securities fraud. The probe centers on claims that Clorox may have issued inaccurate statements about its financial health, business operations, and future prospects.
tom-brennan
·
May 01 2026
Bragar Eagel & Squire, P.C. has filed a class action lawsuit against Alight, Inc., with a May 15 deadline for investors to join.

Alight faces class action lawsuit with a May 15 deadline

**Key Takeaways:** * Bragar Eagel & Squire, P.C. has initiated a class action lawsuit against Alight, Inc. (ALIT). * Investors who have incurred losses in Alight are encouraged to contact the law firm. * The deadline for investors to contact the firm regarding the lawsuit is May 15.
tom-brennan
·
May 01 2026
Saks Global has received court approval to proceed with a creditor vote on its bankruptcy restructuring plan, which would hand control of the company to senior lenders and wipe out existing equity.

Saks Global Gets Court Nod for Chapter 11 Plan Wiping Out Equity

* Saks Global receives court approval to send its restructuring plan to a creditor vote by June 1. * The plan would eliminate all equity and give control to senior lenders who are providing $1.5 billion in financing. * The company will close most of its stores, leaving only 13 Saks Fifth Avenue locations operating.
tom-brennan
·
May 01 2026
Soleno Therapeutics (SLNO) faces a securities class action lawsuit alleging it misled investors about safety concerns for its hyperphagia drug, with a May 5, 2026 lead plaintiff deadline.

Soleno Therapeutics Faces Lawsuit Over Drug Safety Allegations, 4-Day Deadline Looms

**Key Takeaways:** * A securities class action lawsuit has been filed against Soleno Therapeutics (SLNO) concerning its hyperphagia drug, DCCR. * The lawsuit alleges the company failed to disclose significant safety concerns, including fluid retention in clinical trial participants. * Investors have until May 5, 2026, to file for lead plaintiff in the case.
tom-brennan
·
May 01 2026
A securities class action lawsuit has been filed against Hercules Capital following a report from Hunterbrook Media alleging the company copied deals from Google Ventures and had lax valuation processes, leading to a 7.91% drop in its stock price.

Hercules Capital faces class action after 8% drop on fraud claims

**Key Takeaways:** * A securities class action lawsuit has been filed against Hercules Capital following a critical report. * The report alleges the firm copies Google Ventures deals and has lax valuation processes. * Hercules Capital's stock fell 7.91% after the report's publication on February 27, 2026.
tom-brennan
·
May 01 2026
Law firm Johnson Fistel has launched an investigation into the board of Select Medical Holdings for potential breaches of fiduciary duties related to the company's proposed $16.50 per share sale.

Select Medical Board Investigated Over $16.50 Per Share Take-Private Deal

**Key Takeaways** * Shareholder rights law firm Johnson Fistel, PLLP has launched an investigation into the board of Select Medical Holdings Corporation (NYSE: SEM). * The investigation centers on whether the board breached its fiduciary duties in the proposed $16.50 per share sale to a management-led consortium. * The deal comes as the company reported mixed first-quarter results, with 14.5% revenue growth in its rehabilitation hospital segment but a 15.3% decline in adjusted EBITDA for its critical illness hospitals.
tom-brennan
·
May 01 2026
Law firm Halper Sadeh LLC is investigating the fairness of the acquisition of Esperion Therapeutics, Inc. (NASDAQ: ESPR) by funds managed by ARCHIMED for a price of $3.16 per share in cash plus contingent milestone payments.

Esperion Sale to ArchiMed Faces Scrutiny Over $3.16 Share Price

**Key Takeaways:** * Halper Sadeh LLC is investigating the acquisition of Esperion Therapeutics by ARCHIMED. * The deal is valued at $3.16 per share plus up to $100 million in milestone payments. * The investigation focuses on whether shareholders are receiving a fair price and if the process was conflicted.
tom-brennan
·
May 01 2026

Your money person. Finally.

Try Ed free. No credit card. No commitment.
Try Ed Free