Dec 2021 – $PSD.to, $ISV.to, $STC.to & $SANG, $XTC.to, $VLN.to, $PZA.to, $KUT.v

Hoping everyone had a happy holiday season. I’m looking to become a little more active on the blog in 2022. The only resolution I have made (which is really a task I have been procrastinating on for 3 months) is to get back on Twitter and have it be a productive use of my time.

TIKR

TIKR recently announced the end of the free version. I have made the switch over to the paid premium version.

Thoughts on Market Activity

Nothing constructive to add. I have been fairly busy rotating some capital during the last month of 2021.

Developments on Companies Mentioned

  • RediShred Capital – $KUT.v
    • Acquired American Security Shredding
      • 5.15 mil USD on closing and up to 3.4 mil USD in earnout over 3 years or up to 8.55mil USD total or about 5-6x ebitda
      • American Shredding actually has slightly better ebitda margins than KUT
      • These earnouts are a really smart way of deploying capital as it reduces the current capital needed so KUT can scale into the integration and have a larger EBITDA run rate to borrow against, thus reducing the need to do a share issuance
    • Announced bought deal at 0.88 and closed within the month
      • Clean raise with no warrants
      • A little over 10% dilution

*Long $PSD.to, $STC.to, $VLN.to, $KUT.v at time of posting

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