Blog
Clark Street Value
Everything we have picked from this writer, newest first.
management Braemar Hotels & Resorts: Internalizing Management
Braemar Hotels & Resorts is internalizing its management.
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credit Investcorp Credit Management BDC: Visiting the Private Credit Garbage Bin
Investcorp Credit Management BDC is framed as a troubled corner of private credit.
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credit Thoughts on Private Credit (OWL, MLCI), BDCs (OTF) and CLO CEFs (CCIF)
OWL, MLCI, OTF and CCIF span private credit, BDCs and CLO closed-end funds.
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healthcare Theravance Biopharma: Failed Phase 3 Trial, Strategic Review
Theravance Biopharma began a strategic review after a failed Phase 3 trial.
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m&a Braemar Hotels & Resorts: HST Four Seasons Sale, Updated Thoughts
Braemar Hotels & Resorts’ Four Seasons sale prompts updated views on HST.
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business models Green Dot: Creating a Standalone BaaS Bank
Green Dot creates a standalone banking-as-a-service bank.
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portfolio management Year End 2025 Portfolio Review
Year End 2025 Portfolio Review summarizes portfolio results and positioning at the end of 2025.
Clark Street Value Clark Street Value m&a 2025-11-19 m&aGolden Entertainment: PropCo OpCo Split, Insufficient MBO Offer
Golden Entertainment’s PropCo-OpCo split follows an insufficient management buyout offer.
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asia Light & Wonder: Moving Primary Listing to ASX
Light & Wonder plans to move its primary stock listing to the Australian Securities Exchange.
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m&a Sotherly Hotels: Buyout, Preferred Share Conversion Arbitrage
Sotherly Hotels buyout creates a preferred-share conversion arbitrage opportunity.
Clark Street Value Clark Street Value equities 2025-11-03 equitiesCatching Knives w/ FI, FWRD & JEF
FI, FWRD and JEF are framed as falling stocks worth catching.
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management Braemar Hotels & Resort: Gross Asset Management Contract, Initiated Sales Process
Braemar Hotels & Resorts initiated a sales process and faces a gross asset management contract.
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financials 180 Degree Capital: Merger w/ Mount Logan Capital, Tender Offer, Questions Remain
180 Degree Capital plans to merge with Mount Logan Capital and launch a tender offer, leaving open questions around the transaction.
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equities Mural Oncology: Update
Mural Oncology update.
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real estate Franklin Street Properties: Office Basket, Strategic Alternatives
Franklin Street Properties pursues strategic alternatives for its office-property portfolio.
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real estate Net Lease Office Properties: Office Basket, REIT Spin/Liquidation
Net Lease Office Properties is a REIT office basket pursuing a spin-off and liquidation.
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media GCI Liberty: Cheap, Tax Asset, Malone Fatigue?
GCI Liberty trades cheaply, holds tax assets, and faces investor fatigue with John Malone.
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portfolio management Mid Year 2025 Portfolio Review
Mid Year 2025 Portfolio Review assesses portfolio positioning halfway through 2025.
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financials NSTS Bancorp: Post 3-Year Thrift Conversion, Possible Sale
NSTS Bancorp’s three-year thrift-conversion anniversary could clear the way for a potential sale.
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healthcare Kronos Bio: Tang Buyout w/ Curious CVR Consideration
Kronos Bio’s Tang buyout includes a contingent value right with unusual consideration terms.
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healthcare Repare Therapeutics: Broken Biotech, Hidden Strategic Alternatives
Repare Therapeutics faces a broken biotech valuation and potential strategic alternatives.
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healthcare Mural Oncology: Former Spin Turned Broken Biotech
Mural Oncology is a former spin-off biotech now described as broken.
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equities Elevation Oncology: Broken Biotech, Slightly Riskier
Elevation Oncology is a broken biotech with a slightly riskier setup.
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financials Dun & Bradstreet: Strategic Process Wrapping Up, Cheap Valuation
Dun & Bradstreet’s strategic process is wrapping up as the company trades at a cheap valuation.
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