Core Insights - Stack Capital Group Inc. has invested $5 million USD in X-energy Reactor Company, an advanced nuclear technology firm focused on developing next-generation small modular reactors and proprietary nuclear fuel solutions [1][2]. Company Overview - X-energy, founded in 2009 and based in Rockville, Maryland, specializes in safe, reliable, and carbon-free energy solutions, including the Xe-100 small modular reactor and TRISO-X particle fuel [2]. - The company has secured approximately $1.8 billion in private capital and up to $1.2 billion in funding from the U.S. Department of Energy through the Advanced Reactor Demonstration Program [2]. - X-energy is supported by major stakeholders such as Amazon, Dow Inc., and Ontario Power Generation, positioning it as a leader in advanced nuclear commercialization [2]. Industry Context - The demand for reliable, carbon-free baseload power is critical for global economic growth, especially with the rise of AI, electrification, and industrial decarbonization [4]. - Advanced nuclear energy is seen as a scalable solution to meet this demand, with X-energy recognized as a category leader due to its differentiated technology and commercial traction [4].

Core Viewpoint - Stack Capital Group Inc. has announced its intention to initiate a normal course issuer bid (NCIB) for its common shares, believing its share price is undervalued compared to its Book Value per Share of $14.26 [1][2]. Group 1: NCIB Details - The NCIB will allow Stack Capital to purchase up to 1,095,780 common shares, representing 10% of the public float as of November 24, 2025, over a 12-month period from December 3, 2025, to December 2, 2026 [2][3]. - The average daily trading volume from May 1, 2025, to October 31, 2025, was 18,222 common shares, with daily purchases under the NCIB limited to 4,555 common shares, excluding block purchases [2][3]. - All shares purchased under the NCIB will be cancelled [2][3]. Group 2: Automatic Share Purchase Plan (ASPP) - Stack Capital has established an automatic share purchase plan (ASPP) with a designated broker to facilitate share purchases during regulatory restrictions or blackout periods [4]. - The ASPP will become effective on December 3, 2025, coinciding with the start of the NCIB, and all purchases made under the ASPP will count towards the total shares purchased under the NCIB [4]. Group 3: Previous NCIB Performance - Under a previous NCIB, Stack Capital purchased 142,653 common shares at a weighted average price of $11.4394 per share, with the previous NCIB period running from November 18, 2024, to November 17, 2025 [5]. Group 4: Company Overview - Stack Capital is an investment holding company focused on investing in equity, debt, and other securities of growth-to-late-stage private businesses, providing shareholders with exposure to a diversified private investment portfolio [6].

Core Insights - Stack Capital Group Inc. reported its financial results for Q3 2025, highlighting a strong capital position and ongoing investments in high-growth technology companies [1][2]. Financial Summary - Book Value per Share ("BVpS") was $14.26 as of September 30, 2025, down from $14.34 at June 30, 2025 [4]. - Total Book Value reached $188.7 million [4]. - The company raised $35 million through a private placement during the quarter [4]. Portfolio Company Highlights - Stack Capital made significant investments in technology companies, including: - OpenAI: Invested US$8.0 million, focusing on generative AI and enterprise AI deployment [3]. - Databricks: Invested US$2.1 million in a unified cloud-based platform for data and AI workloads [9]. - PsiQuantum: Invested US$0.5 million in developing a silicon photonic quantum computer [9]. - Valuation of SpaceX increased from US$350 billion to US$400 billion during the quarter [4]. - Canva's valuation rose from US$32 billion to US$42 billion [4]. Management Commentary - The CEO of Stack Capital noted a robust IPO environment and strong momentum in private markets, particularly in AI, defense, and robotics, indicating attractive investment opportunities [5]. Breakdown of Book Value per Share - The detailed breakdown of Book Value per Share as of September 30, 2025, includes: - CoreWeave, Inc. (AI hyper-scaler): $2.37 - SpaceX: $2.28 - Canva, Inc.: $1.30 - Other notable investments include Locus Robotics, Omio, Hopper, and OpenAI, contributing to the overall Book Value per Share of $14.26 [5][6].

Core Viewpoint - Stack Capital Group Inc. has successfully closed a private placement offering, raising a total of $35 million through two concurrent offerings, the LIFE Offering and a Concurrent Private Placement [1][4]. Group 1: Offering Details - The LIFE Offering generated gross proceeds of $20 million by issuing 1,454,545 units at a price of $13.75 per unit [1]. - The Concurrent Private Placement raised $15 million by issuing 1,090,909 units at the same offering price [1]. - Each unit consists of one common share and one-quarter of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at an exercise price of $17.00 for 24 months [2]. Group 2: Regulatory and Trading Information - The LIFE Offering was conducted under the listed issuer financing exemption, allowing immediate trading of the unit shares and warrants under Canadian securities legislation [3]. - Units from the Concurrent Private Placement are also immediately freely tradeable, as they were issued in compliance with applicable securities laws [3]. Group 3: Use of Proceeds - The net proceeds from the Offering will be utilized for investments aligned with the company's investment principles and for general corporate and working capital purposes [4]. Group 4: Insider Participation - Certain insiders purchased a total of 9,162 units under the Offering, which is classified as a related party transaction, but exemptions from formal valuation and minority shareholder approval were applied [5]. Group 5: Company Overview - Stack Capital Group Inc. is an investment holding company focused on investing in equity, debt, and other securities of growth-to-late-stage private businesses, providing shareholders with exposure to a diversified private investment portfolio [7].

Company Overview - Stack Capital Group Inc. reported its financial results for the quarter ended June 30, 2025, with all amounts in Canadian Dollars [1] - The Company aims to invest in growth-to-late-stage private businesses, providing shareholders with exposure to a diversified private investment portfolio [7] Financial Performance - As of June 30, 2025, the Book Value of the Company was $157.6 million, and the Book Value per Share was $14.34, an increase from $12.06 as of March 31, 2025 [3][5] - The Company marked up its investment in CoreWeave by US$25.7 million, reflecting a closing price of US$163.06 [5] - An additional US$3 million was invested in SpaceX during Q2-2025, with SpaceX's valuation increasing from US$350 billion to US$400 billion post-quarter [5] Investment Portfolio - The breakdown of Book Value per Share as of June 30, 2025, includes significant investments in various companies: - CoreWeave, Inc. (AI hyper-scaler): $4.25 - SpaceX: $2.47 - Locus Robotics, Inc. (autonomous robots): $1.26 - Canva, Inc. (graphic design): $1.23 - Omio, Inc. (travel & leisure): $1.05 - Hopper, Inc. (travel & leisure): $1.03 - Newfront Insurance, Inc. (insurance & benefits): $1.02 - Prove Identity, Inc. (cyber-security): $0.98 - Bolt Financial, Inc. (e-commerce): $0.48 - Shield AI, Inc. (military defense): $0.39 - Varo Money, Inc. (neo-banking): $0.13 - Cash: $0.50 - Net other assets: $(0.45) [4] Market Environment - The CEO of Stack Capital noted a robust IPO environment and strong momentum in private markets, particularly among disruptive companies in AI, LLMs, and robotics [3] - The Company remains focused on backing category-leading businesses that can deliver long-term value for shareholders [3]

Core Viewpoint - Stack Capital Group Inc. has announced an increase in the size of its private placement offering due to strong investor demand, raising the total expected gross proceeds to up to $35,000,000 [1][4]. Offering Details - The offering will consist of up to 1,454,545 units priced at $13.75 each, with each unit comprising one common share and one-quarter of a warrant [2]. - Each warrant will allow the holder to purchase one common share at an exercise price of $17.00 for a period of 24 months following the closing date [2]. Agents and Placement - The company has engaged Canaccord Genuity Corp., Raymond James Ltd., RBC Capital Markets, and TD Securities Inc. as co-lead agents for the offering [3]. - A concurrent non-brokered private placement of up to 1,090,909 units is also planned, aiming for gross proceeds of up to $15,000,000 [4]. Regulatory Compliance - The offering is being conducted under the listed issuer financing exemption, allowing for the sale of units without the usual prospectus requirements in Canada, except Québec [6]. - The company has applied for the listing of the unit shares, warrants, and warrant shares on the Toronto Stock Exchange [5]. Use of Proceeds - The net proceeds from the offering will be utilized for investments aligned with the company's investment principles and for general corporate purposes [9]. Closing Timeline - The offering is expected to close around August 8, 2025, subject to necessary approvals, including from the TSX [10].

Core Viewpoint - Stack Capital Group Inc. is conducting a private placement offering to raise up to $25 million through a combination of a "best efforts" private placement and a concurrent non-brokered private placement [1][6] Group 1: Offering Details - The offering consists of up to 727,272 units priced at $13.75 per unit, aiming for gross proceeds of up to $10 million [1] - A concurrent non-brokered private placement will offer up to 1,090,909 units at the same price, targeting gross proceeds of up to $15 million [1] - Each unit includes one common share and one-quarter of a common share purchase warrant, with warrants exercisable at $17.00 per share for 24 months [2] Group 2: Regulatory and Compliance - The LIFE Offering is available to purchasers in all Canadian provinces except Québec, utilizing the listed issuer financing exemption [3] - Units sold under the concurrent private placement will also comply with applicable securities laws and will not have resale restrictions [5] - The offering is subject to necessary approvals, including from the Toronto Stock Exchange [7] Group 3: Use of Proceeds - Net proceeds from the offering will be allocated for investments aligned with the company's investment principles and for general corporate purposes [6] Group 4: Company Overview - Stack Capital Group Inc. is an investment holding company focused on investing in growth-to-late-stage private businesses, providing shareholders with exposure to a diversified private investment portfolio [11]

Group 1 - Stack Capital Group Inc. held its annual meeting of shareholders where four director nominees were elected to serve until the next annual meeting [1] - The voting results showed high approval rates for the nominees, with John K. Bell receiving 99.71% of votes for and Jeffrey Parks receiving 99.99% [1] - Laurie Goldberg and Gerri Sinclair received 76.85% of votes for, with a notable 23.15% against [1] Group 2 - Shareholders approved the appointment of MNP LLP as the auditor for the upcoming year and also approved the Omnibus Long-Term Incentive Plan [2] - Stack Capital operates as an investment holding company focused on investing in growth-to-late-stage private businesses, providing shareholders with exposure to a diversified private investment portfolio [3] - The public structure of Stack Capital allows for a focus on maximizing long-term performance through a portfolio of high-growth businesses not widely available to Canadian investors [3]

Core Insights - Stack Capital Group Inc. reported its financial results for Q1 2025, with a Book Value per Share (BVpS) of $12.06, down from $12.29 as of December 31, 2024 [4] - The Company made significant investments in various technology sectors, including AI, autonomous robotics, and travel, with notable portfolio companies such as CoreWeave, Shield AI, and Omio [4][6] Financial Performance - As of March 31, 2025, Stack Capital's total Book Value was $129.7 million [4] - The Company invested an additional US$2.2 million in CoreWeave prior to its IPO, which subsequently saw a share price increase of 45% from March 31, 2025, contributing an estimated $0.45 increase to the BVpS [4][6] - Shield AI raised US$240 million at a valuation of US$5.3 billion, enhancing its position within Stack Capital's portfolio [4] Portfolio Highlights - The breakdown of Book Value per Share as of March 31, 2025, includes: - SpaceX: $2.18 - Locus Robotics: $1.32 - Canva: $1.29 - Omio: $1.11 - Hopper: $1.07 - Newfront Insurance: $1.07 [3][5] - Following the quarter-end, SpaceX received FAA approval to increase its Starship launches to 25 per year, which is expected to benefit its Starlink satellite communications business [4] - Locus Robotics launched its 'Array' autonomous mobile robot, which significantly reduces manual labor in warehouse operations [4] Strategic Developments - Omio expanded its services into Southeast Asia, adding over 14,000 bus routes and aiming to become a comprehensive multi-modal travel provider by Q4 2025 [4] - The Company is focused on maximizing long-term performance through a diversified portfolio of high-growth businesses, which are not widely available to most Canadian investors [6]

Core Points - Stack Capital Group Inc. has announced the acceptance of 757,948 common share purchase warrants for listing on the Toronto Stock Exchange (TSX) [1][2] - The warrants will be traded under the symbol "STCK.WT.A" starting March 24, 2025, with an exercise price of $11.00 per warrant share, valid until October 30, 2027 [2] Company Overview - Stack Capital is an investment holding company focused on investing in equity, debt, and other securities of growth-to-late-stage private businesses [4] - The company aims to provide shareholders with exposure to a diversified private investment portfolio and liquidity through the listing of common shares on the TSX [4] - SC Partners Ltd. is responsible for sourcing and advising on all investments for Stack Capital [4]