Together with
Good Morning,
An Iran peace deal, a SpaceX debut rip, Knicks bringing it home, Lewis Hamilton's maiden Ferrari win, USA's World Cup domination, and America's 250th birthday on deck. Not too bad🤝
Everyone is saying Hamilton won because of Kim Kardashian. Real ones know it's because of his sleep habits. Transform your sleep for the better with Eight Sleep, technology trusted by the likes of Lewis Hamilton and Elon Musk.
Let's dive in.
Before The Bell
As of 6/12/2026 market close.
Learn more about the Litquidity portfolios and subscribe to the strategies on Autopilot.*
Markets
US stocks gained on Friday on the back of SpaceX's strong debut and US-Iran peace talks
Europe's Stoxx 600 rallied to new ATHs
Stoxx Europe Targeted Defence index is down 15% from its January peak following four years of 40% YoY gains
Oil slid to a three-month low
Earnings
Prediction Markets
What a weekend for American and New York sports fans. Done and dusted. On to the next🇺🇸🇺🇸
Trade event contracts on Polymarket, the world's largest prediction market
Headline Roundup
US and Iran reached a permanent peace deal (CNBC)
Lazard undercuts Centerview with 85% fee discount for Venezuela RX (BBG)
Investment firms join $100B race for Venezuelan oil (FT)
Private credit dividends look less secure as cash coverage thins (RT)
Diverging rate paths force reshuffle in EM bets (BBG)
South Korea stock market is eyeing developed markets status (BBG)
Wall Street digests record fundraising haul as AI race intensifies (FT)
SpaceX passes Tesla as Musk's biggest venture (BBG)
SpaceX options will begin trading tomorrow (BBG)
Hedge funds sold tech ahead of SpaceX IPO (RT)
JPMorgan to host party for SpaceX IPO (WSJ)
Vanguard overtook BlackRock as the largest ETF issuer (BBG)
Apollo picks Austin over Florida for second HQ due to private schools (FT)
Anthropic shut down Mythos after US banned use by any non-American (BBG)
Amazon data centers used 2.5B gallons of water in 2025 (WSJ)
Charlie Javice is seeking a Trump pardon for defrauding JPMorgan (WSJ)
Wamco's Ken Leech pleaded guilty to obstructing SEC fraud probe (WSJ)
Knicks win triggered record loss for quant firm SIG (BBG)
World Cup's $10B betting boom fuels market 'gamification' (BBG)
A Message from Eight Sleep
Exceptional sleep. Without exception.
Viral sleep-tech Eight Sleep raised $100M from the likes of Elon Musk and F1 driver Charles Leclerc and its about time you check it out.
Using clinically-proven technology, their new Pod 5:
Cools your bed up to 20ºF below room temperature
Detects and reduces snoring by 45%
Increases daytime energy levels by up to 34%
...and altogether reimagines what sleep should truly feel like.
The Pod fits on every bed, includes sensors to track your health, elevates automatically to adjust breathing, and cools and warms throughout the night to dramatically improve sleep quality.
Trillionaires like Elon Musk and titans like Mark Zuckerberg, Lewis Hamilton, and Aaron Judge swear by the Pod...and so do I.
Head to eightsleep.com/lit and use code LIT to get $500 off your new Pod 5.
Deal Flow
M&A / Strategic
DOJ cleared Paramount Skydance's $110B acquisition of Warner Bros. Discovery
Exxon is studying potential acquisition targets including Australia's $45B-listed Woodside Energy Group
$21B-listed streaming video platform Roku is in talks to sell itself
Chinese green energy firm ENN Natural Gas terminated a planned restructuring, including a $12B buyout offer for ENN Energy Holdings and a second listing in Hong Kong
Uber is exploring divesting $13B-listed German peer Delivery Hero's regional businesses as it pursues a takeover while building a 37% stake
Thoreau Group, the Apollo-backed investment firm of ex-New Mountain president Matt Holt, is in advanced talks to acquire Warburg Pincus and Berkshire Partners-backed RCM firm Ensemble Health Partners at a $12B valuation
PE firm Wafra will acquire equipment finance business Navitas from United Community Banks for $1.9B
LatAm utility conglomerate Equatorial Energia will buy just a 30% stake in Brazilian water utility Copasa as part of a $1.6B privatization
Alibaba offered to buy Chinese grocery delivery firm Pupu for $1.5B, 2.5x higher than DCP Capital-backed Sun Art Retail's $600M bid
UK PE firm Bridgepoint is preparing a $1B sale of Danish anti-drone firm MyDefence
Shell will launch a $1B sale of its offshore wind farms to focus on fossil fuels
PE firm Warburg Pincus is nearing a deal to buy Japanese housing firm JSB for $1.2B
PE firm EQT plans to sell its minority stake in a Singapore healthcare provider HMI Medical for $600M
Woodside blocked a stake sale in Australia's Browse LNG project to Japan's Inpex Corp. by exercising preemptive rights to buy PetroChina's 10.67% stake for up to $400M
Australian real estate private credit firm Qualitas will acquire UK loan manager Starz Real Estate for $27M
Crypto data provider Blockworks acquired is rival Messari for $10M, a 97% discount to its $300M valuation from 2022
LVMH-backed PE firm L Catterton is in exclusive talks to buy a stake in extreme fitness brand Hyrox from Swiss-based Infront Sports & Media
VC
Europe's biggest AI startup Mistral AI is in talks to raise a $3.5B round at a $23B valuation
Genspark, an agentic workplace platform provider, raised a $100M Series B extension at a $2.6B valuation from Sozo Ventures, UpHonest Capital, and Mirae Asset
Codejobs, a Brazilian platform that connects tech professionals to foreign remote jobs, raised $40M from Kleiner Perkins, which acquired a 48% stake
ChatSee.ai, a failure intelligence platform for autonomous AI systems, raised a $6.5M funding round led by True Ventures
Lium, an AI platform for complex scientific and industrial data, raised a $5.5M seed round from SJF Ventures, Wavemaker 360, Reach Capital, and GC&H Investments
Access the complete VC deal flow and data on Fundable
IPOs / Listings / Issuances / Block Trades
SpaceX jumped 20% in its trading debut after raising $75B for a $2.1T market cap in a record IPO
$40B-China listed chipmaker MetaX Integrated Circuits is planning a Hong Kong listing
$19B-listed FanDuel-owner Flutter Entertainment will delist from London to prioritize US trading
Rabobank, ING, and Credit Agricole are interested in buying a stake in Belgian state-owned lender Belfius as part of Belgium's plans to sell a 20% stake at an $11.6B valuation
Chinese robotics startup EngineAI filed confidentially for a Hong Kong IPO; the firm was recently valued at $1.5B
Chinese robot appliance maker Dreame Technology is considering a Hong Kong IPO next year
SPAC / SPV
Big3, the 3v3 basketball league founded by Ice Cube, will merge with Graf Global Corp. at a $290M pre-money valuation
Debt
Deutsche Bank and Goldman Sachs lined up $2B of debt financing to back Triton Partners' $3.5B acquisition of German gearbox maker Flender from Carlyle
A unit of Indonesia's SWF Danantara raised $1.5B in a debut dollar bond sale
Bankruptcy / Restructuring / Distressed
Mattress maker Sleep Number filed for Chapter 11 bankruptcy with plans to sell itself to Sleep Country Canada for $415M as tariffs weighed
HSBC has $400M of exposure to troubled UAE conglomerate IFFCO Group, which is undergoing a $2B restructuring
A judge allowed bankrupt auto parts supplier First Brands to proceed with a liquidation plan to fund lawsuits against indicted execs and insiders to recoup money for creditors; the case will not convert to Chapter 7
An Australian court removed injunctions against the forced sale of a 27% stake that infrastructure investor Dexus manages for some shareholders in the Melbourne and Launceston airports
US and Abu Dhabi-backed Orion Critical Mineral Consortium is considering buying a 37% stake in troubled French state-backed miner Eramet from the Duval family
JTBC, the broadcaster owned by South Korean media giant JoongAng Group, defaulted on securitized loans and was downgraded to junk
Vision Group is in talks with South Africa's Industrial Development Corp to take an equity stake in bankrupt sugar refiner Tongaat Hulett in exchange for additional funding
Funds / Secondaries
Abu Dhabi Investment Council, a unit of SWF Mubadala, is building $15B in exposure to global multi-strategy hedge funds via total return swaps
PE firm Trinity Hunt Partners is seeking to raise $1B for its eighth fund
Crypto Sum Snapshot
Bitcoin bottom hunters are eyeing up AI frenzy and the SpaceX IPO
China tees up digital payments system to compete with dollar
SBF lost bid to overturn fraud conviction and 25-year prison sentence
Trump's World Liberty Financial will fund UFC fighter bonuses at White House event
Crypto Sum compiles the most important stories on everything crypto. Read it here.
Exec’s Picks
SpaceX is public. Meet SPCU, the Defiance 2X Long SpaceX ETF, live today. Double SpaceX's daily move in one ticker, no options or margin. A leveraged single-stock ETF that resets daily, built for short-term trading, not buy and hold.*
Speaking of, here's a guide to the biggest winners from the SpaceX IPO.
And before we jump into the memes, ingrain this reminder into your soul.
*Distributor: Foreside Fund Services. An investment in SPCU is not a direct investment in SPCX.
Meme Cleanser
🛒 Merch Store: Visit our merch store to shop our latest apparel, shoes, bags, accessories and more.
💵 Litquidity Ventures: Accredited investors & qualified purchasers within the Litquidity community can gain access to alternative investments such as venture, late-stage growth, and private equity through Litquidity Ventures. Interested? Fill out this form.
☎️ Book a call with Lit: Want to pick Litquidity's brain on business advice, insights, or just chat to say what's up? Buy his time here.
📧 Launch your own newsletter: Have great content ideas and looking to launch your own publication? We highly recommend beehiiv to get started.
*DISCLAIMER: Investment advice provided by Autopilot Advisers, LLC ("Autopilot"), an SEC-registered investment adviser. Past performance does not guarantee future results. Investing carries risks, including loss of principal. As always, be smart out there. Litquidity is compensated to promote AutoPilot. Compensation details available upon request.