InsideArbitrage Event Driven Monitor – June 7, 2024

Deal in the Works

1. CORZ: Core Scientific, Inc. (CORZ) received an unsolicited $5.75 per share acquisition proposal from CoreWeave on June 3, 2024, but the board rejected it as undervaluing the company.
2. VNDA: Cycle Pharmaceuticals announced it made a proposal to the Board of Directors of Vanda Pharmaceuticals (VNDA) on May 24, 2024, to acquire 100% of Vanda’s issued and outstanding shares for a cash consideration of $8.00 per Vanda share, representing a total cash consideration of $466 million..

Insider Purchases

1. FOUR: Jared Isaacman, the Chairman and CEO of payment processing solutions company Shift4 Payments Inc. (FOUR), purchased 29,669 shares at an average price of $69.23 totaling $2.05 million.
2. AFCG: Leonard M. Tannenbaum, the Executive Chairman and CIO of specialty REIT company AFC Gamma, Inc. (AFCG), purchased 88,835 shares at an average price of $12.01 totaling $1.07 million.
3. BYON: Marcus Lemonis, the Executive Chairman of home products retail company Beyond Inc. (BYON), purchased 17,075 shares at an average price of $14.61 totaling $249,466.

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