Merger Arbitrage Mondays – Euronav And Frontline To Combine In An All Stock Deal

  • July 18, 2022

Merger activity increased last week with six new deals announced, one deal completed and one merger that fell apart. One of the deals announced last week was a potential deal in the works.

We added Euronav (EURN) as a potential deal in the works on April 7, 2022, when Frontline (FRO) and Euronav announced that the companies had signed a term sheet on a potential stock-for-stock combination, that would result in Euronav and Frontline shareholders owning approximately 59% and 41% of the combined company respectively.

Euronav started operating as a subsidiary of CNN (Compagnie Nationale de Navigation) under the name ‘Euronav’ in 1989. In 1995, a joint venture called Euronav Luxembourg SA was formed between Compagnie Nationale de Navigation (CNN) and Compagnie Maritime Belge (CMB) to consolidate all the tanker activities of CNN. CMB is controlled by the Belgian family Saverys. The proposed merger between Euronav and Frontline was opposed by Alexander Saverys, scion of the Belgium shipping family that holds a near-20% stake in Euronav. He proposed that Euronav instead merge with the clean shipping division of his company.

On May 19, 2022, Euronav said that its shareholders voted to reject a proposal from Compagnie Maritime Belge to nominate three supervisory board members. As merger plans moved forward, Frontline bought nearly 6 million shares in Euronav in a privately negotiated share exchange transactions with some Euronav shareholders.

On Monday, July 11, 2022, Euronav and Frontline signed a definitive combination agreement, under which shares in Frontline, would be exchanged for those in Euronav at a ratio of 1.45 to 1, to create an oil tanker group with 146 vessels including 68 Very Large Crude Carriers (VLCCs). 55% of the combined company will be held by existing Euronav shareholders and approximately 45% by existing Frontline shareholders.

The combined group will be listed on Euronext Brussels, OSE and NYSE upon tender offer completion.

On the deal updates front, as we expected, Twitter filed a complaint against Musk in Delaware Court of Chancery and interestingly it was the Chancellor of the Court, Kathaleen McCormick, that decided to pick up the case. Twitter wants an expedited trial and wants to start in September while Musk and his lawyers want to push out the date to next year.

You can find all the active deals listed below in our Merger Arbitrage Tool (MAT) that automatically updates itself during market hours.

Deals In The Works

There were three new deals announced in the Deals in the Works section last week.

SPAC Arbitrage

There were two new SPAC combination announced last week. You can find new SPAC IPO announcements in our SPACs tool here.

  1. On July 12, 2022, Deep Medicine Acquisition (DMAQ) announced the signing of a definitive business combination agreement with Chijet Motor Company, a Chinese automaker.
  2. On July 12, 2022, Falcon’s Beyond, an entertainment development company specializing in intellectual property creation and expansion, and FAST II (FZT), entered into a definitive merger agreement.

SPAC Combination Terminated

  1. On July 12, 2022, DDC Enterprise Limited and Ace Global Business Acquisition Limited (ACBA) announced that both parties have mutually agreed to terminate their previously announced Share Exchange Agreement effective immediately.

Weekly Spread Changes:

The table below shows weekly spread changes between July 8 and July 15, 2022.

Company Quote
Last Week
Spread Change
MBII0.7981Bioceres Crop Solutions Corp. (BIOX)10.111.36%2.42%8.94%All Stock
EXTN3.38Enerflex Ltd. (EFX.TO)5.118.29%10.51%7.78%All Stock
RDBX4.37Chicken Soup for the Soul Entertainment, Inc. (CSSE)8.95-82.18%-88.91%6.73%All Stock
TYME0.2962Syros Pharmaceuticals, Inc. (SYRS)0.93536.11%30.16%5.95%All Stock
SJR26.65Rogers Communications Inc. (RCI)45.4221.58%15.92%5.66%Special Conditions
USWS0.7796ProFrac Holding Corp. (PFHC)14.725.93%9.69%-3.76%All Stock
GSV0.2863Orla Mining Ltd. (ORLA)2.40.01%4.78%-4.77%All Stock
SIMO86.21MaxLinear, Inc. (MXL)35.124.30%29.98%-5.68%Cash Plus Stock
HTA29.34Healthcare Realty Trust Incorporated (HR)24.630.37%6.17%-5.80%Cash Plus Stock
VG20.98Ericsson (ERIC)7.070.10%7.58%-7.48%All Cash

Deal Statistics:

Total Number of Deals Closed in 202298
Total Number of Deals Not Completed in 20225
Total Number of Pending Deals
Cash Deals55
Stock Deals22
Stock & Cash Deals4
Special Conditions10
Total Number of Pending Deals91
Aggregate Deal Consideration$986.19 billion

New Deals:

  1. The merger of Euronav (EURN) and Frontline (FRO) for a closing value of $4.08 billion in an all stock deal. Under the terms of the agreement, the proposed combination is structured as a voluntary conditional exchange offer by Frontline for all outstanding shares of Euronav at an exchange ratio of 1.45 Frontline shares for each Euronav share. We added EURN as a potential deal to the Deals in the Works section on April 7, 2022 and the price after the news of the potential deal came out was $11.94.
  2. The acquisition of La Jolla Pharmaceutical Company (LJPC) by Innoviva (INVA) for $149 million or $6.23 per share in cash. Under the terms of the agreement, Innoviva has agreed to pay $5.95 per share for La Jolla, and an incremental $0.28 per share for additional cash proceeds received in connection with the divestiture of a non-core asset.
  3. The acquisition of Glory Star New Media Group Holdings Limited (GSMG) by Cheers, an entity formed by the CEO of the company to take it private, for $105.59 million or $1.55 per share in cash.
  4. The merger of ironSource (IS) and Unity (U) for $3.61 billion in an all stock deal. Under the terms of the agreement, each ordinary share of ironSource will be exchanged for 0.1089 shares of Unity common stock.
  5. The acquisition of Sharps Compliance (SMED) by an affilliate of Aurora Capital Partners for $139.85 million or $8.75 per share in cash.
  6. The acquisition of TransGlobe Energy Corporation (TGA) by VAALCO Energy (EGY) for $273 million in an all stock deal. Under the terms of the agreement, shareholders of TransGlobe Energy Corporation will receive 0.6727 of a VAALCO share of common stock.

Deal Updates:

  1. On July 8, 2022, Marrone Bio Innovations (MBII) announced that its shareholders approved a proposal to adopt the previously announced Agreement and Plan of Merger.
  2. On July 11, 2022, The European Commission approved, under the EU Merger Regulation, the acquisition of Plantronics (POLY) by HP (HPQ).
  3. On July 11, 2022, Welbilt (WBT) received the required regulatory approval from the U.K. Competition and Markets Authority to complete the previously announced acquisition of the company by Ali Holding. The closing of the transactions is expected to occur on or around July 28, 2022.
  4. On July 12, 2022, Twitter (TWTRfiled a complaint in the Delaware Court of Chancery against Mr. Musk seeking a grant of specific performance ordering Mr. Musk to specifically perform their obligations under the merger agreement.
  5. On July 13, 2022, Spirit Airlines (SAVE) announced that, in response to the request set forth in the letter to the company from Frontier Group Holdings (ULCC) dated July 10, 2022, Spirit intends to reopen and immediately adjourn its special meeting of stockholders relating to the proposed merger agreement with Frontier until July 27, 2022.
  6. On July 13, 2022, TherapeuticsMD (TXMD) announced today that Athene Merger, an affiliate of EW Healthcare Partners, did not acquire the required majority of shares of TXMD through the previously announced tender offer by the extended offer deadline of July 12, 2022. As a result, the tender offer has expired according to its terms. The company anticipates that the Merger Agreement between TXMD and EW will be terminated pursuant to its terms on July 13, 2022.
  7. On July 13, 2022, Nomad Royalty Company (NSR) filed its management information circular for the special meeting of the company’s shareholders to be held on August 9, 2022.
  8. On July 14, 2022, The European Commission approved, under the EU Merger Regulation, the acquisition of joint control of Citrix Systems (CTXS) and TIBCO Software by Vista Equity Partners.
  9. On July 14, 2022, The European Commission approved, under the EU Merger Regulation, the acquisition of joint control of Nielsen Holdings (NLSN) by Elliott Investment Management.
  10. On July 15, 2022, Vonage Holdings (VG) and Ericsson (ERIChave satisfied all requisite foreign and U.S. regulatory requirements for the closing of the Merger, including as relates to the Hart-Scott-Rodino (HSR) Act and review by the Committee on Foreign Investment in the United States (CFIUS). The parties expect the Merger to close no later than July 21, 2022.
  11. On July 15, 2022, PS Business Parks (PSB) announced that its stockholders voted to approve the acquisition of PSB by affiliates of Blackstone Real Estate (BX).  The closing of the transaction in the merger agreement, the transaction is expected to be completed on or around July 20, 2022.
  12. On July 15, 2022, Healthcare Trust of America (HTA) announced that, based on a preliminary vote count, its stockholders have approved the previously announced combination with Healthcare Realty Trust Incorporated (HR). The transaction is expected to close on July 20, 2022.
  13. On July 15, 2022, proxy advisory firm Institutional Shareholder Services reversed its stance on Spirit Airlines’ (SAVE) planned tie-up with Frontier Airlines (ULCC) by calling JetBlue’s (JBLU) all-cash bid a “superior alternative.”
  14. July 15, 2022: According to Reuters, Elon Musk filed a motion opposing Twitter’s (TWTR) request to fast-track a trial over his plan to terminate his $44 billion deal for the social media firm.
  15. July 15, 2022: According to Reuters, CEO Chris Griffith said on Friday that Gold Fields (GFIshareholders are starting to better understand the miner’s proposed acquisition of Yamana Gold (AUY), as he tries to win investors over to the deal that was negatively received by the market.

Closed Deals:

  1. The acquisition of Entasis Therapeutics Holdings (ETTX) by Innoviva (INVA) on July 11, 2022. It took 49 days for this deal to be completed.
  2. The acquisition of Marrone Bio Innovations (MBII) by Bioceres Crop Solutions (BIOX) on July 13, 2022. It took 119 days for this deal to be completed.

Deal Terminated:

  1. On July 14, 2022, TherapeuticsMD (TXMDdelivered a written termination notice to EW Healthcare Partners terminating the Merger Agreement as the offer closing had not occurred on or before July 13, 2022.

Top 10 deals with largest spreads:

Please do your own due diligence on deals with large spreads. Some of these large spreads might be related to regulatory issues or because of the way the deal is structured. We classify some of these deals as “special situation” deals in our merger arbitrage tool and provide additional details to help with the analysis. There may be unique situations related to special dividends, spinoffs, proration, etc. that need to be accounted for when looking at these spreads.

TWTR04/25/2022Elon Musk (N/A)$54.20$37.7412/31/202243.61%95.32%
TYME07/05/2022Syros Pharmaceuticals, Inc. (SYRS)$0.40$0.296212/31/202236.11%78.93%
BKI05/04/2022Intercontinental Exchange, Inc. (ICE)$85.00$62.606/30/202335.78%37.53%
VMW05/26/2022Broadcom Inc. (AVGO)$142.50$110.6204/30/202328.82%36.65%
SIMO05/05/2022MaxLinear, Inc. (MXL)$107.16$86.2106/30/202324.30%25.49%
ATVI01/18/2022Microsoft Corporation (MSFT)$95.00$77.3906/30/202322.75%23.87%
SJR03/15/2021Rogers Communications Inc. (RCI)$32.40$26.6509/30/202221.58%105.00%
NLSN03/29/2022Evergreen Coast Capital Corporation (N/A)$28.00$23.3712/31/202219.81%43.30%
TGNA02/22/2022Standard General L.P. (N/A)$24.00$20.212/31/202218.81%41.12%
EXTN01/24/2022Enerflex Ltd. (EFX.TO)$4.00$3.3809/30/202218.29%88.99%

List of all pending deals:

The list of all pending deals is only available to InsideArbitrage Premium and Plus members.

Target VolumeEstimated
Closing Date
+TWTR4/25/22Elon Musk (N/A)All Cash$44 B$54.20$37.7414,482,94412/31/2243.61%95.90%
+TYME7/05/22Syros Pharmaceuticals, Inc. (SYRS)All Stock$67.2 M$0.40$0.29622,109,46312/31/2236.11%79.41%
+BKI5/04/22Intercontinental Exchange, Inc. (ICE)Special Conditions$16 B$85.00$62.6943,4116/30/2335.78%37.64%
+TMX12/14/21Rentokil Initial plc (RTOKY)Special Conditions$6.7 B$55.00$42.041,530,4629/30/2230.83%152.06%
+VMW5/26/22Broadcom Inc. (AVGO)Special Conditions$69 B$142.50$110.623,077,6974/30/2328.82%36.78%
+SIMO5/05/22MaxLinear, Inc. (MXL)Cash Plus Stock$8 B$107.16$86.21585,1796/30/2324.30%25.56%
+ATVI1/18/22Microsoft Corporation (MSFT)All Cash$68.7 B$95.00$77.395,719,5146/30/2322.75%23.94%
+SJR3/15/21Rogers Communications Inc. (RCI)Special Conditions$26 B$32.40$26.65546,5859/30/2221.58%106.42%
+NLSN3/29/22Evergreen Coast Capital Corporation (N/A)All Cash$16 B$28.00$23.371,693,35412/31/2219.81%43.56%
+TGNA2/22/22Standard General L.P. (N/A)Special Conditions$8.6 B$24.00$20.2952,00812/31/2218.81%41.36%
+EXTN1/24/22Enerflex Ltd. (EFX.TO)All Stock$735 M$4.01$3.38474,7539/30/2218.65%91.99%
+CHNG1/06/21UnitedHealth Group Incorporated (UNH)All Cash$13.28 B$27.75$23.521,852,25412/31/2217.98%39.54%
+FSTX6/23/22invoX Pharma (N/A)All Cash$161 M$7.12$6.15332,56912/31/2215.77%34.68%
+AUY5/31/22Gold Fields Limited (GFI)All Stock$6.7 B$5.27$4.570015,930,65812/31/2215.40%33.87%
+TSEM2/15/22Intel Corporation (INTC)All Cash$5.4 B$53.00$46.081,034,9622/15/2315.02%25.86%
+GSMG7/11/22Cheers Inc (N/A)All Cash$105.59 M$1.55$1.35310,95012/31/2214.81%32.57%
+FHN2/28/22The Toronto-Dominion Bank (TD)Special Conditions$13.4 B$25.00$21.912,998,94011/27/2214.10%39.00%
+BRG12/20/21Blackstone Real Estate (N/A)Special Conditions$3.6 B$29.85$26.22315,4949/30/2213.84%68.29%
+HLG5/09/22Hailiang Education International Limited (N/A)All Cash$368.89 M$14.31$13.081,1039/30/229.40%46.38%
+RDUS6/23/22Gurnet Point Capital (N/A)All Cash$890 M$11.00$10.13452,8309/30/228.59%42.36%
+MGI2/15/22Madison Dearborn Partners, LLC (N/A)All Cash$1.8 B$11.00$10.16440,08912/31/228.27%18.18%
+BLCT4/30/22Multelements Limited (N/A)All Cash$60 M$1.60$1.4816,73112/31/228.11%17.83%
+MILE11/08/21Lemonade (LMND)All Stock$201.47 M$1.03$0.97230,1827/31/226.66%187.11%
+PNM10/21/20Avangrid, Inc. (AGR)All Cash$8.05 B$50.30$47.18294,1989/30/226.61%32.62%
+SJI2/24/22Infrastructure Investments Fund (N/A)All Cash$8.1 B$36.00$33.95570,78412/31/226.04%13.28%
+USWS6/21/22ProFrac Holding Corp. (PFHC)All Stock$546.29 M$0.83$0.7796309,86912/31/225.93%13.03%
+IS7/13/22Unity (U)All Stock$3.61 B$3.67$3.490029,108,03312/31/225.19%11.40%
+TGA7/14/22VAALCO Energy, Inc. (EGY)All Stock$273 M$3.50$3.34002,661,91512/31/224.93%10.85%
+ROG11/02/21DuPont de Nemours, Inc. (DD)All Cash$5.2 B$277.00$264128,6309/30/224.92%24.29%
+LHCG3/28/22Optum (N/A)All Cash$6.2 B$170.00$162.43315,05612/31/224.66%10.25%
+VIVO7/07/22SD Biosensor and SJL Partners (N/A)All Cash$1.53 B$34.00$32.5815,13412/31/224.62%10.15%
+AXU7/05/22Hecla Mining Company (HL)All Stock$75.24 M$0.44$0.41851,453,6419/30/224.50%22.18%
+ZEN6/24/22Permira and Hellman & Friedman LLC (N/A)All Cash$10.2 B$77.50$74.332,981,91112/31/224.26%9.38%
+CTEK5/23/22Clearwater Compliance LLC (N/A)All Cash$13.9 M$1.25$1.290,4879/30/224.17%20.55%
+TEN2/23/22Apollo Global Management, Inc. (APO)All Cash$7.1 B$20.00$19.241,244,31512/31/223.95%8.69%
+EURN7/11/22Frontline Ltd. (FRO)All Stock$4.08 B$12.89$12.41960,56112/31/223.87%8.51%
+MNDT3/08/22Alphabet Inc. (GOOG)All Cash$5.4 B$23.00$22.191,760,84712/31/223.65%8.03%
+FBC4/26/21New York Community Bancorp, Inc. (NYCB)All Stock$2.6 B$37.58$36.29126,78310/31/223.56%12.37%
+TUFN4/06/22Turn/River Capital (N/A)All Cash$570 M$13.00$12.59168,4719/30/223.26%16.06%
+SMED7/13/22Aurora Capital Partners (N/A)All Cash$139.85 M$8.75$8.48885,6269/30/223.18%15.70%
+ATC7/01/21MKS Instruments, Inc. (MKSI)Cash Plus Stock$6.5 B$21.87$21.231,233,1319/30/223.02%14.91%
+SAVE2/07/22Frontier Group Holdings, Inc. (ULCC)Cash Plus Stock$6.6 B$25.26$24.532,655,07912/31/222.99%6.58%
+SAIL4/11/22Thoma Bravo (N/A)All Cash$6.9 B$65.25$63.631,619,94612/31/222.55%5.60%
+BKEP4/22/22Ergon, Inc. (N/A)All Cash$199.72 M$4.65$4.54226,3679/30/222.42%11.95%
+MN4/01/22Callodine (N/A)All Cash$137.1 M$12.85$12.57106,6239/30/222.23%10.99%
+NTUS4/18/22ArchiMed (N/A)All Cash$1.2 B$33.50$32.79100,5509/30/222.17%10.68%
+USAK6/24/22DB Schenker (N/A)All Cash$435 M$31.72$31.08233,78812/31/222.06%4.53%
+RNDB3/28/22Hometown Financial Group, Inc. (N/A)All Cash$146.5 M$27.00$26.481,99812/31/221.96%4.32%
+UMPQ10/12/21Columbia Banking System, Inc. (COLB)All Stock$4.5 B$17.39$17.07795,8099/30/221.88%9.29%
+TPTX6/03/22Bristol Myers Squibb (BMY)All Cash$1.66 B$76.00$74.651,249,9499/30/221.81%8.92%
+RFP7/06/22The Paper Excellence Group (N/A)Special Conditions$2.7 B$20.50$20.141,385,1936/30/231.79%1.88%
+STON5/25/22Axar Capital Management, LP (N/A)All Cash$927.7 M$3.50$3.44942,6509/30/221.74%8.60%
+BHVN5/10/22Pfizer Inc. (PFE)Special Conditions$11.6 B$148.50$145.99720,7563/31/231.72%2.45%
+NSR5/02/22Sandstorm Gold Ltd. (SAND)All Stock$585.29 M$6.63$6.526,33712/31/221.70%3.74%
+NPTN11/04/21Lumentum Holdings Inc. (LITE)All Cash$745.24 M$16.00$15.74476,00612/31/221.65%3.63%
+HMLP5/25/22Höegh LNG Holdings Ltd. (N/A)All Cash$167.6 M$9.25$9.1201,79512/31/221.65%3.62%
+Y3/21/22Berkshire Hathaway (BRK.A)All Cash$11.6 B$848.02$835.3849,76712/31/221.51%3.33%
+SWCH5/11/22DigitalBridge Group, Inc. (DBRG)All Cash$11 B$34.25$33.741,108,25512/31/221.51%3.32%
+CTXS1/31/22Vista Equity Partners and Elliott Investment Management LP (N/A)All Cash$16.5 B$104.00$102.531,114,3307/31/221.43%40.25%
+OBCI6/22/22OneWater Marine Inc. (ONEW)All Cash$125 M$13.08$12.9350,9239/30/221.16%5.72%
+CTT5/31/22PotlatchDeltic Corporation (PCH)All Stock$1.06 B$10.41$10.3216,98512/31/221.02%2.25%
+CVET5/25/22Clayton, Dubilier & Rice and TPG Capital (N/A)All Cash$4 B$21.00$20.8865,82012/31/220.96%2.11%
+RTLR5/16/22Diamondback Energy, Inc. (FANG)All Stock$2.36 B$12.33$12.23236,6959/30/220.84%4.15%
+LJPC7/11/22Innoviva, Inc. (INVA)All Cash$149 M$6.23$6.18183,0708/11/220.81%12.30%
+DRE6/13/22Prologis, Inc. (PLD)All Stock$26 B$57.48$57.031,990,54212/31/220.79%1.73%
+CNVY6/21/22TPG Capital (N/A)All Cash$1.1 B$10.50$10.42127,18712/31/220.77%1.69%
+SREV5/09/22Concentrix Corporation (CNXC)All Cash$164.49 M$1.50$1.491,199,00912/31/220.67%1.48%
+ACC4/19/22Blackstone (BX)All Cash$12.8 B$65.47$65.111,017,7529/30/220.55%2.73%
+CNR3/07/22Clayton, Dubilier & Rice (N/A)All Cash$5.8 B$24.65$24.531,226,8649/30/220.49%2.41%
+CDR3/02/22Wheeler Real Estate Investment Trust, Inc. (WHLR)All Cash$291.3 M$29.00$28.86305,4279/30/220.49%2.39%
+MTOR2/22/22Cummins Inc. (CMI)All Cash$3.7 B$36.50$36.331,206,18912/31/220.47%1.03%
+MANT5/16/22The Carlyle Group Inc. (CG)All Cash$4.2 B$96.00$95.59163,38312/31/220.43%0.94%
+POLY3/28/22HP Inc. (HPQ)All Cash$3.3 B$40.00$39.83697,66912/31/220.43%0.94%
+HTA2/28/22Healthcare Realty Trust Incorporated (HR)Cash Plus Stock$10.74 B$29.45$29.3450,762,4467/20/220.37%68.42%
+GCP12/06/21Saint-Gobain (N/A)All Cash$2.3 B$32.00$31.89477,44812/31/220.34%0.76%
+PSB4/25/22Blackstone (BX)All Cash$7.6 B$187.50$187.201,028,2687/20/220.16%29.25%
+VG11/22/21Ericsson (ERIC)All Cash$6.2 B$21.00$20.9816,029,6627/21/220.10%11.60%
+WBT7/14/21Ali Holding S.r.l. (N/A)All Cash$4.8 B$24.00$23.992,112,2637/28/220.04%1.52%
+GSV6/13/22Orla Mining Ltd. (ORLA)All Stock$138.14 M$0.29$0.2863315,3678/31/220.01%0.06%
+STCN6/13/22Steel Partners Holdings L.P. (SPLP)All Cash$519.36 M$1.35$1.3537,05912/31/220.00%0.00%
+ABTX11/10/21CBTX, Inc. (CBTX)All Stock$1.5 B$39.50$39.6458,7059/30/22-0.35%-1.71%
+SRLP6/02/22Hartree Partners, LP (N/A)All Cash$1.44 B$19.00$19.0712,1679/30/22-0.37%-1.81%
+EPZM6/27/22Ipsen (N/A)Special Conditions$247 M$1.45$1.485,432,5829/30/22-2.03%-10.00%
+PTRS11/04/21OceanFirst Financial Corp. (OCFC)All Stock$186 M$8.66$9.033,0529/30/22-4.06%-20.04%
+SAFM8/09/21Cargill and Continental Grain Company (N/A)All Cash$4.49 B$203.00$212.72166,6299/30/22-4.57%-22.54%
+EMCF3/24/22Farmers National Banc Corp. (FMNB)All Stock$105 M$32.23$34.531,21812/31/22-6.67%-14.66%
+PCSB5/24/22Brookline Bancorp, Inc. (BRKL)All Stock$313 M$17.52$18.9662,40512/31/22-7.59%-16.68%
+HMTV5/09/22Gato Investments LP (N/A)All Cash$658.07 M$7.00$7.97107,8919/30/22-12.17%-60.03%
+ELSE6/13/22Mobile X Global, Inc. (N/A)All Cash$9.89 M$4.83$5.821,1139/30/22-17.01%-83.90%
+RDBX5/11/22Chicken Soup for the Soul Entertainment, Inc. (CSSE)All Stock$182.9 M$0.78$4.372,234,26212/31/22-82.18%-180.70%

Disclaimer: I have long positions in Biohaven Pharmaceutical (BHVN), Twitter (TWTR), First Horizon (FHN), Tower Semiconductor (TSEM), Healthcare Trust of America (HTA), TEGNA (TGNA) and Bluerock Residential Growth REIT (BRG). Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.