Pulse 2.0

KKR Reportedly Makes $9 Billion Takeover Bid For UGI At $42.50 Per Share

Goldman Sachs To Acquire LCN Capital Partners For Up To $410 Million, Adding $3 Billion NNN Platform

JM Test Systems Acquires McMurray Technical To Expand Calibration Platform Across Mid-Atlantic And Northeast

GenNx360-Backed NVI Acquires Barracuda Specialty Services In First Deal Since February Investment

Bluejack Fire & Life Safety Acquires Phillips To Expand Houston Platform

Frasers Group Reaches 47.89% Hugo Boss Position Through €38-Per-Share Takeover Offer, With Instruments Covering Another 30.15%

By Amit Chowdhry ● Today at 9:31 PM

Frasers Group's voluntary takeover offer for Hugo Boss has been accepted for about 17.62% of the German fashion company’s shares, bringing the total of accepted shares and Frasers’ existing direct stake to about 47.89% of Hugo Boss.

GALLOS Raises $50 Million To Build And Invest In Security, Defense, And Resilience Technology Companies

By Amit Chowdhry ● Today at 9:25 PM

GALLOS Technologies has announced a $50 million, or approximately £35 million, balance sheet investment round to expand its platform for building and investing in early-stage security, defense and resilience technology companies. Ventura Capital and Aberdeen Investments co-led the financing, adding significant institutional backing as GALLOS seeks to scale a model focused on identifying, creating, and supporting businesses addressing increasingly important national security and resilience challenges.

OceanaGold To Acquire Ausgold For $549 Million, Adding 100,000+ Ounce-Per-Year Katanning Gold Project

By Amit Chowdhry ● Today at 9:22 PM

OceanaGold has agreed to acquire Ausgold in a transaction valuing the Australian gold developer at approximately A$776 million, or US$549 million, adding the Katanning Gold Project in Western Australia to its development portfolio. Under the definitive scheme implementation agreement, Ausgold shareholders will receive 0.03365 OceanaGold shares for each Ausgold share they hold. The consideration implies a value of A$1.36 per Ausgold share.

Saputo To Sell UK Dairy Business To Lactalis At Approximately £988 Million Enterprise Value

By Amit Chowdhry ● Today at 9:21 PM

Saputo has agreed to sell its United Kingdom dairy operations to Lactalis at an enterprise value of approximately £988 million, sharpening the global dairy company’s focus on markets and platforms where it believes it has stronger competitive positioning.

Rillet Raises $100 Million Series C At $1 Billion Valuation As AI-Native ERP Tops 600 Customers

By Amit Chowdhry ● Today at 9:10 PM

Rillet has raised a $100 million Series C at a $1 billion valuation as the AI-native enterprise resource planning company accelerates development of what it calls “Accounting Superintelligence,” where AI agents perform increasingly complex finance work directly inside a real-time general ledger. The round was led by ICONIQ, with participation from Sequoia, Andreessen Horowitz, Sequoia Global Equities, Bain Capital Ventures, Oak HC/FT, Battery Ventures, FirstMark, Scale Venture Partners and Creandum.

Deutsche Telekom To Acquire Fiberhost And Inea For About €1 Billion, Adding 300,000+ Customers And 1.4 Million-Home Fiber Network

By Amit Chowdhry ● Today at 9:07 PM

Deutsche Telekom has agreed to acquire 100% of Fiberhost and Inea for an enterprise valuation of approximately €1 billion, significantly expanding T-Mobile Polska’s fixed broadband infrastructure and accelerating its transformation into a fully converged telecommunications provider.

Fathom: Mortgage Revenue Jumps 71% And Segment Swings To Positive Adjusted EBITDA

By Amit Chowdhry ● Today at 8:41 PM

Fathom Holdings' mortgage business delivered a sharp improvement during the second quarter of 2026, with segment revenue increasing approximately 71% to $5.68 million from $3.32 million and Adjusted EBITDA swinging to positive $256,000 from a loss of $86,000 a year earlier. The performance provided a counterweight to weaker transaction activity in Fathom’s much larger residential brokerage operation.

HIAG: Chama Condo Sales Generate About $28.7 Million Of Profit As 96% Of Units Are Sold Or Reserved

By Amit Chowdhry ● Today at 8:18 PM

HIAG generated approximately $28.7 million of profit from condominium sales at the second phase of its Chama development during the first half of 2026, with 96% of the project’s 73 condominiums already sold or reserved by mid-year. The development was a major contributor to a sharp increase in the Swiss real estate company’s first-half earnings.

Geely Automobile Revenue Rises 15% On Just 1% Unit Growth As Average Selling Price Jumps About $2,224

By Amit Chowdhry ● Today at 8:13 PM

Geely Automobile generated RMB173.6 billion of revenue during the first half of 2026, an increase of 15% even though total vehicle sales grew only 1%, as a shift toward premium vehicles and rapidly expanding exports lifted the average selling price by RMB15,000 to RMB112,000 per vehicle.

Sunshine Biopharma: Cash Rises 51% To $13.7 Million While Inventory Falls To $12.1 Million

By Amit Chowdhry ● Today at 8:12 PM

Sunshine Biopharma increased its cash and cash equivalents by approximately 51% during the first half of 2026 to $13.75 million, up from $9.12 million at the end of 2025, while net inventory declined to $12.12 million from $13.47 million. The stronger cash position was supported primarily by financing activity during the period rather than operating cash generation.

BioXcel Therapeutics Faces August 21 Oaktree Transaction Deadline As $13.8 Million Cash Funds Operations Only Through August

By Amit Chowdhry ● Today at 8:10 PM

BioXcel Therapeutics is facing an August 21 deadline to enter into definitive agreements for a transaction acceptable to its Oaktree-affiliated lenders, while management says the company’s $13.8 million of cash, cash equivalents, and restricted cash as of June 30 is sufficient to fund operations and liquidity requirements only through the end of August 2026.

Trust Stamp: $42.4 Million Sales Pipeline Discounts To $9.48 Million Probability-Weighted Revenue Opportunity

By Amit Chowdhry ● Today at 8:04 PM

Trust Stamp has identified a $42.4 million sales pipeline spanning potential government and private-sector customers for 2026 and 2027, estimating that the opportunities translate into about $9.48 million in revenue after adjusting for management’s assessment of the probability of contracting. The pipeline reflects the identity technology company's expansion of a relationship with a multinational African telecommunications customer to $992,000 of billed and billable work.

Taylor Devices Backlog Nearly Doubles To $52.8 Million As Aerospace/Defense Reaches 92% Of Orders

By Amit Chowdhry ● Today at 8:02 PM

Taylor Devices ended fiscal 2026 with a sharply larger order book even as reported revenue declined, with total sales backlog reaching $52.8 million compared with $27.1 million a year earlier. Aerospace and defense customers accounted for 92% of the backlog, up from 75% at the end of fiscal 2025, indicating that the company's future revenue mix has shifted considerably toward defense-related applications.

Klarna: Membership Revenue Jumps More Than 600%, But 2026 GMV Outlook Gets Cut

By Amit Chowdhry ● Today at 8:00 PM

Klarna lowered its full-year 2026 gross merchandise volume outlook while raising its transaction margin expectations, signaling that the company expects stronger economics from a somewhat smaller volume base. Meanwhile, Klarna Membership revenue rose more than 600% year over year as paying subscribers grew eightfold to 2 million, adding a rapidly expanding recurring-revenue component to its broader payments and lending platform.

LeonaBio: ELAINE-3 Enrollment Reaches 495 Of About 600 Patients As Up To $146 Million Of Warrant Proceeds Could Support Upcoming Milestones

By Amit Chowdhry ● Today at 7:53 PM

LeonaBio has enrolled 495 patients in its Phase 3 ELAINE-3 trial of lasofoxifene, putting enrollment at roughly 83% of the study’s approximately 600-patient target as the company works toward completing enrollment in the fourth quarter of 2026. Topline data from the registrational study are expected in the second half of 2027, while outstanding cash-exercisable warrants could provide LeonaBio with up to an additional $146 million if exercised in full.

Sandisk: 10 NBM Agreements Signed With Eight Customers Represent $93.9 Billion In Minimum Expected Revenue At Floor Pricing

By Amit Chowdhry ● Today at 4:48 PM

Sandisk has signed 10 New Business Model agreements across eight Datacenter and Edge customers that management says represent at least $93.9 billion of expected revenue at floor pricing, creating a multiyear base of committed demand as the flash-memory company seeks to make revenue, production and cash flow considerably more predictable.

Costco And SCAN Health Plan Expand Partnership To Launch Senior-Focused Medicare Products

By Amit Chowdhry ● Today at 4:26 PM

Costco Wholesale and SCAN Health Plan have expanded their strategic partnership to develop a suite of senior-focused insurance products aimed at improving value, accessibility and the overall Medicare experience for older adults. The expanded alliance represents Costco’s first comprehensive partnership with a Medicare plan.

Uplift Investors Acquires Engage fi As Third Platform Investment From $670 Million Debut Fund

By Amit Chowdhry ● Today at 4:14 PM

Uplift Investors has acquired Engage fi, a technology and strategic advisory firm serving banks and credit unions, from Falfurrias Management Partners. Terms of the transaction were not disclosed.

LPL Onboards $160 Million Firm Guidepost Wealth Management

By Amit Chowdhry ● Today at 4:12 PM

LPL Financial has added financial advisor Chris Stockton, CEPA, and his Guidepost Wealth Management practice to its broker-dealer and Registered Investment Advisor platform, bringing approximately $160 million in advisory, brokerage, and retirement plan assets. Stockton joins LPL from Edward Jones.

Bimergen Energy Retains 7.5% Stakes In Three Battery Projects While Booking Only $500,000 Of Their Equity Value

By Amit Chowdhry ● Today at 4:05 PM

Bimergen Energy retained 7.5% equity ownership in three battery energy-storage projects as part of transactions completed during Q2 2026, but recorded only $500,000 as the provisional value of those interests. The company said it expects a conservative appraisal of the stakes to result in a fair market value significantly above the amount currently reflected in its financial results.

Arden Names Brad Perilman CFO As $375+ Million Premium Platform Expands Finance Leadership

By Amit Chowdhry ● Today at 4:03 PM

Arden Insurance Services has appointed Brad Perilman as Chief Financial Officer as the tech-enabled managing general underwriter continues expanding its executive leadership team following a period of rapid growth.

Freightos: Gross Booking Value Jumps 33% To Record $422 Million While Revenue Grows Just 3%

By Amit Chowdhry ● Today at 4:02 PM

Freightos processed a record $422 million of gross booking value during Q2 2026, up 33% year over year, even as recognized revenue increased only 3% to $7.7 million. The widening gap between transaction value and reported revenue highlights how rapidly the scale of activity moving through the Freightos platform is expanding relative to current monetization.

Interstice Digital And FalconX Launch Cross-Chain Swap Engine Connecting $9 Trillion Monthly Canton RWA Flow With Robinhood, Solana, And Ethereum

By Amit Chowdhry ● Today at 3:58 PM

Interstice Digital has launched a cross-chain swap engine in partnership with FalconX, creating a non-custodial connection between the Canton Network and major blockchain ecosystems including Robinhood Chain, Solana and Ethereum.

Home Depot: Receivables Jump 18.5% To Nearly $7 Billion As H1 Operating Cash Flow Reaches $11.4 Billion And Q2 Sales Top $47.8 Billion

By Amit Chowdhry ● Today at 3:55 PM

Home Depot's net receivables increased approximately 18.5% year over year to $6.96 billion at the end of its fiscal second quarter, substantially outpacing the company's 5.7% quarterly sales growth. At the same time, Home Depot generated $11.42 billion of operating cash flow during the first half of fiscal 2026, providing substantial capacity to fund dividends, debt repayments, capital expenditures and acquisitions.

Femasys: H1 Net Loss Narrows To $3.6 Million As $30 Million Financing Includes Up To $90 Million Of Potential Warrant Proceeds

By Amit Chowdhry ● Today at 3:50 PM

Femasys reported a first-half 2026 net loss of $3.62 million, improving by nearly $6.9 million from a $10.48 million loss a year earlier, even though its underlying operating loss was essentially unchanged at approximately $9.29 million versus $9.31 million. The biotechnology company subsequently completed a $30 million private placement, with associated warrants carrying the potential to generate up to another $90 million upon full cash exercise.

Marex Becomes Nottingham Forest Principal Partner In Multi-Year Front-Of-Shirt Sponsorship Deal

By Amit Chowdhry ● Today at 3:06 PM

Marex Group has entered into a multi-year Principal Partnership with Nottingham Forest Football Club, securing front-of-shirt sponsorship rights across the club’s senior men’s football, women’s football and netball teams. The agreement represents a major brand investment by Marex as the global financial services company looks to increase awareness of its expanding capabilities beyond its historical roots in commodities. Financial terms of the partnership were not disclosed.

H World Manachised And Franchised Revenue Jumps 25% As 497 Of 498 China Openings Use Asset-Light Model

By Amit Chowdhry ● Today at 3:04 PM

H World Group's manachised and franchised hotel revenue increased 25.2% year over year to RMB3.6 billion in Q2 2026, while 497 of the 498 hotels the company opened in China during the quarter used its manachised or franchise model. The figures highlight an increasingly asset-light growth strategy even as H World's overall hotel network continues expanding rapidly.

Jasper Therapeutics: KP-104 Renal Data Due Q4 2026 As $132 Million Kira Financing Extends Runway Into H2 2028

By Amit Chowdhry ● Today at 3:02 PM

Jasper Therapeutics expects Stage 1 interim data from a Phase 2 study of newly acquired KP-104 in rare renal diseases during Q4 2026, providing the first major clinical catalyst following its acquisition of Kira Pharmaceuticals and concurrent $132 million private placement. The financing is expected to fund planned operations through the second half of 2028 while Jasper advances a newly expanded three-asset immunology pipeline.

Queue-it: THL Partners To Acquire Majority Stake To Scale AI-Era Traffic Orchestration Platform

By Amit Chowdhry ● Today at 3:00 PM

THL Partners has agreed to acquire a majority stake in Queue-it, a Copenhagen-based online traffic orchestration platform that helps enterprises and public organizations manage digital traffic surges, protect infrastructure and mitigate bots and abuse. Financial terms of the transaction were not disclosed. The investment will be made through THL’s Automation Fund II.

Traws Pharma Ties Up To $50 Million Of Additional Financing To Influenza Regulatory And Clinical Milestones

By Amit Chowdhry ● Today at 2:58 PM

Traws Pharma has structured up to $50 million of potential additional financing around specific regulatory and clinical milestones for its influenza program, directly connecting future capital availability to progress with tivoxavir marboxil and its planned Phase 2a human influenza Challenge study.