💥Liability Management!💥

Hansen says LM is here to stay. Plus: Instant Brands Completes its Sale.

Source: PETITION’s Merch Meme Department

Non-defaulted distressed bond supply picked up heading into this past week, jumping from 126 bonds at $89b of face value debt to 135 bonds totaling $95mm of face value debt, likely further fueling a liability management frenzy that has some lawyers, financial advisors and investment bankers busy but keeping the “quality” of chapter 11 bankruptcy filings muted. We’ve made this point before…

💥A "Hawkish Hold" = Companies Fold?💥

…so we needn’t belabor it but holy f*ck the cases that are filing are pure garbage. But at least the market is … uh … filtering out the detritus:

Source: Google

Per the San Francisco Standard:

Molekule merged with publicly traded competitor AeroClean Technologies in 2020 to become Molekule Group in a deal that valued the company at around $25 million. Prior to the merger, Molekule raised more than $100 million in venture capital funding.

Seriously? That was a public company?! Ah, yes, another deSPAC. Color us super surprised (🙄🖕)!

And look at this piece of crap:

You guessed it. ANOTHER deSPAC (🙄🖕)! For full accuracy, let’s remove the “F” and add “Co” at the end. 😂