Market Trends - Moonbirds floor price increased by 117% following OCAP Games acquisition [1] - Smart money acquired 5000 units before announcing the acquisition [1] Investment Strategy - OCAP Games acquisition strategy involved discreet accumulation before public announcement [1] - The acquisition target is described as a "simple game" [1]

Core Insights - Amcon Distributing reported diluted EPS of $2.13 and revenue of $739.6 million for Q3 fiscal 2025, with no analyst estimates available for comparison [1][2] - Operating profit margins tightened due to inflation in operating costs, leading to weaker profitability despite steady sales compared to Q3 fiscal 2024 [1][6] Financial Performance - EPS decreased by 13.4% from $2.46 in Q3 2024 to $2.13 in Q3 2025 [2] - Revenue increased by 3.0% from $717.9 million in Q3 2024 to $739.6 million in Q3 2025 [2] - Operating income fell by 13.5% from $5.6 million in Q3 2024 to $4.9 million in Q3 2025 [2] - Net income decreased by 11.5% from $1.5 million in Q3 2024 to $1.3 million in Q3 2025 [2] - Gross profit rose by 3.4% from $48.0 million in Q3 2024 to $49.6 million in Q3 2025 [2] Business Overview - Amcon Distributing specializes in wholesale distribution for the convenience retail sector, serving approximately 7,900 retail outlets [3] - The company operates two segments: wholesale distribution, which is the primary revenue driver, and retail health food stores [3][4] Segment Performance - The wholesale segment generated $728.3 million in revenue, accounting for over 98% of total sales, with an operating income of $7.3 million [5] - The retail health food segment reported $11.3 million in sales and a minimal operating income of $0.1 million [5] Cost and Expenses - SG&A expenses increased by 6.5% to $42.5 million compared to Q3 fiscal 2024, outpacing revenue growth [6] - Interest expense was $2.7 million, slightly lower than $2.9 million in Q3 fiscal 2024 [6] - Operating margin was approximately 0.7% [6] Strategic Focus - The company is focusing on expanding foodservice programs, integrating new acquisitions, and investing in technology to enhance marketing and customer retention [4][7] - Management highlighted the importance of proprietary marketing programs, although these have not yet translated into improved margins [7] Cash Flow and Financial Position - Year-to-date cash flow from operations was -$12.5 million, driven by increased accounts receivable and inventory buildup [8] - Shareholders' equity increased to $113.2 million, while cash on hand was $0.83 million and total debt rose to $154.6 million [8] Future Outlook - The company did not provide specific financial guidance but intends to pursue further acquisitions and maximize liquidity [9][10] - Key risks include reliance on cigarette sales and thin operating margins, with a focus on cash management due to inventory and accounts receivable buildup [10]

Prosus has offered to sell down its holding in Delivery Hero to help pave the way for regulatory approvals for its acquisition of Just Eat https://t.co/z4O6T3WCNd ...

Banks selling the term loans backing Sycamore Partners’ acquisition of Boots have increased the minimum size of the dollar-denominated portion, while cutting the overall size of its bond issuance https://t.co/5jy3va8pV7 ...

⚡️ LATEST: Matador Technologies unveils $656M plan to acquire 6,000 $BTC by 2027, targeting a top 20 spot among corporate holders. https://t.co/OUwvpFliBC ...

KKR, the buyout firm that’s been scouting for takeover targets amid the recent market volatility, is considering a potential acquisition of Italian health-care technology firm GPI https://t.co/egctU4sCKW ...

Acquisition Details - Talos, a crypto infrastructure firm backed by Citi, acquires Coin Metrics [1] - The acquisition deal is valued at over $100 million [1] Industry Focus - The acquisition signifies consolidation and expansion within the crypto infrastructure sector [1]

Bitcoin Strategy - Metaplanet CEO 正在帮助收购亚洲公司，以推动比特币议程 [1]

TLDR: Windsurf employees may well get their exit, if remaining management just executes the dividend.After looking into this, I think the original intent was for that $100M+ cash balance to indeed be used to give employee distributions via a dividend. It corresponds very closely to the unvested equity number.But due to the legal overhead that attends any Big Tech acquisition nowadays, the founder was muzzled and couldn't say this outright. He could only say "dividending out the balance is an option."So: the ...

From a well-known investor I know:“Saw some people claiming common doesn’t get paid in the Windsurf acquisition. They are wrong, you are right. I checked with Windsurf investors, everyone is getting paid, including common.The one wrinkle may be employees who aren’t vested. And preferred may be taking a disproportionate tax hit, because it doesn’t qualify for QSBS, just like Scale didn’t qualify.”Caveats: I haven't seen the waterfall myself, and these deals are complicated, and I don't like to get involved i ...