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# ![@JulianKlymochko Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::1640715014.png) @JulianKlymochko Julian Klymochko

The BDC (Business Development Company) sector is experiencing significant changes, with many BDCs facing challenges and declining prices. Some analysts are warning of a potential recession and default cycle in the private credit market, while others are highlighting opportunities in specific BDCs and M&A (merger and acquisition) deals. Recent M&A deals include acquisitions by companies such as $RYN, $BCRX, and $CVE, and there are also updates on SPACs (Special Purpose Acquisition Companies) and their activities.

### Engagements: XXXXXX [#](/creator/twitter::1640715014/interactions)
![Engagements Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1640715014/c:line/m:interactions.svg)

- X Week XXXXXXX +13%
- X Month XXXXXXX +73%
- X Months XXXXXXXXX -XXXX%
- X Year XXXXXXXXX +146%

### Mentions: XX [#](/creator/twitter::1640715014/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1640715014/c:line/m:posts_active.svg)

- X Week XX -XX%
- X Month XXX +7.40%
- X Months XXX +10%
- X Year XXXXX +63%

### Followers: XXXXXX [#](/creator/twitter::1640715014/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1640715014/c:line/m:followers.svg)

- X Week XXXXXX +0.61%
- X Month XXXXXX +3.70%
- X Months XXXXXX +9.50%
- X Year XXXXXX +16%

### CreatorRank: XXXXXXX [#](/creator/twitter::1640715014/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1640715014/c:line/m:influencer_rank.svg)

### Social Influence [#](/creator/twitter::1640715014/influence)
---

**Social category influence**
[finance](/list/finance)  XXXXX% [stocks](/list/stocks)  XXXX% [cryptocurrencies](/list/cryptocurrencies)  XXXX% [countries](/list/countries)  XXX% [vc firms](/list/vc-firms)  XXXX%

**Social topic influence**
[acquisition](/topic/acquisition) #231, [private equity](/topic/private-equity) #207, [ipo](/topic/ipo) #696, [$arbto](/topic/$arbto) #1, [filed](/topic/filed) #158, [iii](/topic/iii) #1015, [$aexa](/topic/$aexa) #1, [nav](/topic/nav) #60, [rates](/topic/rates) #287, [$obdc](/topic/$obdc) #1

**Top accounts mentioned or mentioned by**
[@ajacksonhole](/creator/undefined) [@crockejo](/creator/undefined) [@specialsitsnews](/creator/undefined) [@dt432123](/creator/undefined) [@pachos](/creator/undefined) [@arbstocktipster](/creator/undefined) [@sparertime](/creator/undefined) [@tuttlecapital](/creator/undefined) [@paulbagnellbnn](/creator/undefined) [@bnnbloomberg](/creator/undefined) [@jeffshulkin](/creator/undefined) [@deathswap1](/creator/undefined) [@wagiecapital](/creator/undefined) [@arbtrader69](/creator/undefined) [@apompliano](/creator/undefined) [@j82352430](/creator/undefined) [@arbprofit](/creator/undefined) [@chamath](/creator/undefined) [@urrrgggggg65112](/creator/undefined) [@kingdomcapadv](/creator/undefined)

**Top assets mentioned**
[Blue Owl Capital Corporation (OBDC)](/topic/$obdc) [Ares Capital, Corp. (ARCC)](/topic/$arcc) [Electronic Arts Inc. (EA)](/topic/$ea) [Bitcoin (BTC)](/topic/bitcoin) [CEREAL (CEP)](/topic/$cep) [CoreWeave, Inc. (CRWV)](/topic/$crwv) [Core Scientific, Inc. Common Stock (CORZ)](/topic/core-scientific) [Teck Resources Limited (TECK)](/topic/$teck) [American Airlines Group Inc (AAL)](/topic/$aal) [Main Street Capital Corporation (MAIN)](/topic/$main) [Paramount Global Class A Common Stock (PARAA)](/topic/$paraa) [Western Midstream Partners, LP. (WES)](/topic/$wes) [Coop Coin (COOP)](/topic/$coop) [Rocket Companies, Inc. (RKT)](/topic/$rkt) [lien (LIEN)](/topic/$lien) [Newton Protocol (NEWT)](/topic/$newt) [Fermi Inc. Common Stock (FRMI)](/topic/$frmi) [Comerica, Inc. (CMA)](/topic/$cma) [Fifth Third Bancorp (FITB)](/topic/$fitb) [Tongtongcoin (TTC)](/topic/$ttc) [PotlatchDeltic Corporation Common Stock (PCH)](/topic/$pch) [Rayonier Inc. (RYN)](/topic/$ryn) [JPMorgan Chase (JPM)](/topic/$jpm) [Oklo Inc. (OKLO)](/topic/$oklo) [NuScale Power Corporation (SMR)](/topic/$smr) [Morgan Stanley (MS)](/topic/morgan-stanley) [Cenovus Energy Inc. (CVE)](/topic/$cve) [Blackstone Secured Lending Fund (BXSL)](/topic/$bxsl)
### Top Social Posts [#](/creator/twitter::1640715014/posts)
---
Top posts by engagements in the last XX hours

"CoreWeave and Core Scientific filed the definitive proxy statement for their proposed merger. The $CORZ shareholder vote set for Oct 30th should be fairly electric given its shares are trading at an XXXX% premium to the $CRWV consideration. A bump incoming"  
[X Link](https://x.com/JulianKlymochko/status/1971768192252236241) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-09-27T02:45Z 30.2K followers, 17.9K engagements


"While most risk assets continue to levitate to new highs BDCs have been beaten like a redheaded stepchild. If you're looking to pick through the wreckage we track the top XX BDCs and their portfolio characteristics below. If you own a non-traded BDC could be time to switch"  
[X Link](https://x.com/JulianKlymochko/status/1975752206050525465) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-08T02:36Z 30.2K followers, 39.2K engagements


"On Tuesday the two largest listed BDCs dismissed recent concerns on private credit and addressed the misguided consternation stemming from recent bankruptcies in the syndicated loan market. Blue Owl $OBDC: The bankruptcies of Tricolor Holdings and First Brands Group is an "odd kind of fear-mongering. Were not seeing rising defaults were not seeing companies struggling." Ares $ARCC: "Weve been a little surprised by the First Brands Tricolor selloff and buzz because when we look at our credit portfolios we actually see pretty healthy portfolios relative to almost any metric that you can look"  
[X Link](https://x.com/JulianKlymochko/status/1978499538064376037) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-15T16:33Z 30.2K followers, 12.3K engagements


"Prime Minister Carney gave tacit approval for Anglo American's acquisition of Teck Resources (the deal is subject to a nod from Investment Canada). The cost was Anglo moving its headquarters to Canada. $TECK $NGLOY $AAL"  
[X Link](https://x.com/JulianKlymochko/status/1967702828421615625) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-09-15T21:31Z 30.2K followers, 2219 engagements


"➡ M&A Deal Sheet Electronic Arts $EA to be acquired by PIF / Silver Lake / Affinity Partners for $XXXXXX cash per share XXXX% premium $XX billion 18.8x EBITDA (2027E) Trading at a XXX% arbitrage yield and an implied XX% odds of success"  
[X Link](https://x.com/JulianKlymochko/status/1972683175496405053) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-09-29T15:21Z 30.2K followers, 2921 engagements


"$MAIN was the first BDC to provide an early look into Q3 results this am. While $MAIN is somewhat differentiated from the sector with its higher private equity exposure (25%) and enormous NAV premium its prelim Q3 performance provides some interesting data points: - NII in line with street expectations - NAV beat consensus up XXX% to XXX% QoQ (although no indication on split between NAV accretion from share issuance and underlying portfolio performance) - Non-accruals DECLINED by 90bps (fair value) / 140bps (cost) Strong NII NAVPS growth and declining non-accruals disclosed in $MAIN's prelim"  
[X Link](https://x.com/JulianKlymochko/status/1978181301355332053) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-14T19:29Z 30.2K followers, 4967 engagements


"Here is a stat that could melt an allocator's brain: Since 1990 gold has outperformed real estate. A "barbarous relic" no more"  
[X Link](https://x.com/JulianKlymochko/status/1979965903937966137) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-19T17:40Z 30.2K followers, 3138 engagements


"Today's M&A and SPAC notes $ARIS to be acquired by $WES for 0.625x shares or $XXXXX cash (subject to cap) XXXX% premium $XXX billion $PARAA / Skydance Media deal closed $SBXD announced a business combination with Parataxis $QUMSU $XX million IPO"  
[X Link](https://x.com/JulianKlymochko/status/1953449288458973256) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-08-07T13:32Z 30.2K followers, 1631 engagements


"Between 2010 and 2020 buying the highest quality stocks and short selling the lowest yielded an approximate XXX% return. Since the pandemic script has flipped and investors would have been better off shorting a basket of stocks of the highest quality businesses while going long the lowest quality junk stocks - particularly since April of this year. Such is investing in a degen market"  
[X Link](https://x.com/JulianKlymochko/status/1969763029966520716) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-09-21T13:57Z 30.2K followers, 28.3K engagements


"Interesting optionality in below-NAV SPAC Columbus Circle Capital I which has a business combination with bitcoin treasury company ProCap Financial. $BRR price = $XXXXX Estimated current NAV = $XXXXX Yield to redemption = XXX% Disclosure: Long $BRR in $ARB.to"  
[X Link](https://x.com/JulianKlymochko/status/1970215880916426752) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-09-22T19:57Z 30.2K followers, 3237 engagements


"In 2021 Score Media was acquired by Penn National at a XXXX% premium. Score's VP of Finance insider traded on the deal having a friend buy $7000 of call options and selling them for $318800. The codeword they used for the cash was "toys". No jail time in Canada though"  
[X Link](https://x.com/JulianKlymochko/status/1973100191084675186) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-09-30T18:58Z 30.2K followers, 2458 engagements


"Wild things happen to merger arbitrage spreads when the acquiror turns into a meme stock With $RKT becoming a retail pump the $COOP deal spread blew out to nearly XX% gross. With the deal set to close tomorrow $RKT pumpers could have earned 1000% annualized with the switch"  
[X Link](https://x.com/JulianKlymochko/status/1973166006668599772) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-09-30T23:20Z 30.2K followers, 3668 engagements


"Now that $NEUE's sale to New Enterprise Associates for $XXXX per share has closed does anybody know why the spread blew out earlier this year to a near X% probability of closing on seemingly no news We never had a position so didn't follow it closely. A weird situation though"  
[X Link](https://x.com/JulianKlymochko/status/1973744923016130835) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-02T13:40Z 30.2K followers, 2655 engagements


"Valuations shmaluations. While the data is limited because the S&P XXX has rarely traded at 23x earnings (where it is currently) when the stock market has been this expensive historically subsequent 5-year returns were flat to negative on a total return basis"  
[X Link](https://x.com/JulianKlymochko/status/1974174786613031123) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-03T18:08Z 30.2K followers, 2186 engagements


"@kingdomcapadv You're right. I didn't include the smallest X BDCs including $LIEN $NEWT $GECC $PFX $ICMB $TURN $RAND $EQS"  
[X Link](https://x.com/JulianKlymochko/status/1974655527897682104) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-05T01:58Z 30.2K followers, 1924 engagements


"For the historical records: This week a zero-revenue AI / Power REIT founded XX months ago went public at a $XXXX billion valuation then soared XX% amid insatiable demand for its shares. It was co-founded by a politician and its project is named after the President. $FRMI"  
[X Link](https://x.com/JulianKlymochko/status/1974916148224463089) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-05T19:14Z 30.2K followers, 5285 engagements


"Today's M&A notes $CMA to be acquired by $FITB for 1.8663x shares XXXX% premium $XXXX billion $HSII to be acquired by Advent / Corvex for $XXXXX XXXX% premium $XXX billion $TGH.to to be acquired by $TTC for $XXXX XXX% premium $XXX million"  
[X Link](https://x.com/JulianKlymochko/status/1975194891430072660) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-06T13:42Z 30.2K followers, 2073 engagements


"Last week the median BDC NAV discount reached -20%. This dynamic has occurred five times over the past twenty years. Historically when the median BDC discount reached -XX% forward returns have been relatively attractive"  
[X Link](https://x.com/JulianKlymochko/status/1975229354344055158) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-06T15:59Z 30.2K followers, 15.6K engagements


"As private credit sinks further into a bear market the average listed BDC yield recently topped XX% a cycle high stemming from a combination of high base rates and double-digit NAV discounts. While we expect yields to decline for two reasons namely further cuts in the fed funds rate (private credit is a floating rate exposure) plus a recovery in NAV discounts in a normalized environment we expect the asset class to yield approximately SOFR +600 (post leverage net of expenses)"  
[X Link](https://x.com/JulianKlymochko/status/1975600925042671936) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-07T16:35Z 30.2K followers, 14.4K engagements


"Some boneheads tried to bluff Blackstone buying $TASK shares above its $XXXXX buyout price and then voting down the deal hoping for a bump in consideration. After the vote failed the deal terminated now they're selling below $15.00"  
[X Link](https://x.com/JulianKlymochko/status/1976033789320331330) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-08T21:15Z 30.2K followers, 4596 engagements


"PE-owned Alliance Laundry just priced its IPO. The deal was UPSIZED and priced at the TOP OF ITS RANGE. If you are invested in a private equity fund that isn't taking all of their portfolio companies public right now then you should start asking some questions. The IPO window can't get more open"  
[X Link](https://x.com/JulianKlymochko/status/1976043961178567047) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-08T21:56Z 30.2K followers, 14.6K engagements


"@crockejo Apollo just IPO'd Phoenix University $PXED"  
[X Link](https://x.com/JulianKlymochko/status/1976264997782397231) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-09T12:34Z 30.2K followers, XXX engagements


"Private equity portcos and SPACs are a match made in heaven. Look for an avalanche of these transactions to be announced this cycle"  
[X Link](https://x.com/JulianKlymochko/status/1976470217950961774) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-10T02:09Z 30.2K followers, 6709 engagements


"The media: BDCs are falling on fed rate cuts which will pressure investment income and dividends Reality: Fed fund futures have been pricing in 4-5 more rate cuts for many months already (even when BDCs were trading at an average +5% premium this February)"  
[X Link](https://x.com/JulianKlymochko/status/1976709543603454239) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-10T18:00Z 30.2K followers, 2989 engagements


"Today's M&A notes $PCH to be acquired by $RYN for 1.7339x shares XXX% premium $4.5bn $ATXS to be acquired by $BCRX for $XXXX cash + 0.59x shares XXXX% premium $700mm $CGC.v to be acquired by $MUX for 0.0225x shares XXXX% premium $121.4mm"  
[X Link](https://x.com/JulianKlymochko/status/1978093082202558577) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-14T13:38Z 30.2K followers, 1727 engagements


""I haven't heard anything to suggest that the private deals are performing differently from the public deals." Jamie Dimon dismisses the market's concern regarding private credit fundamentals that has manifested in recent BDC price volatility. $JPM"  
[X Link](https://x.com/JulianKlymochko/status/1978102016699211822) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-14T14:14Z 30.2K followers, 7291 engagements


"If you love $PAPA like I do (the pizza not the stock) hopefully we don't see quality decline and price go up on this LBO"  
[X Link](https://x.com/JulianKlymochko/status/1978204526810137077) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-14T21:01Z 30.2K followers, 1752 engagements


"Turns out chasing $OKLO and $SMR was the better play than buying $GSRT (now $NKLR) and $HOND more cheaply (with downside protection though)"  
[X Link](https://x.com/JulianKlymochko/status/1978607791020662804) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-15T23:43Z 30.2K followers, 4019 engagements


"@AcaciaCap Didn't work great recently in the private REIT space though"  
[X Link](https://x.com/JulianKlymochko/status/1979287056481423440) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-17T20:43Z 30.2K followers, XXX engagements


"@roofingisgr8 Could have said the same in February when the market traded at a X% premium as rate cut expectations have not changed. Price drives narrative"  
[X Link](https://x.com/JulianKlymochko/status/1979310480197062763) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-17T22:16Z 30.2K followers, XXX engagements


"Absolute Return Podcast #255 Trends in Private Credit with Morgan Stanley Direct Lending Fund's President Michael Occi $MSDL @MorganStanley"  
[X Link](https://x.com/JulianKlymochko/status/1907482026510528823) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-04-02T17:15Z 30.2K followers, 1462 engagements


"We're so back @chamath filed to launch a $XXX million SPAC called American Exceptionalism Acquisition Corp. A $AEXA"  
[X Link](https://x.com/JulianKlymochko/status/1957552690843775037) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-08-18T21:18Z 30.2K followers, 382.3K engagements


"SPAC arbitrage yields are now higher than the global aggregate bond index. New issues are treading water at $XXXXX. Haven't seen upside optionality since $CEP. What happened to the bull market"  
[X Link](https://x.com/JulianKlymochko/status/1967609501575766060) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-09-15T15:20Z 30.2K followers, 2710 engagements


"@VincentAuGondor only down about X% likely due to leverage + high dividend payout. Also had some money-losing investments (First Brands for example)"  
[X Link](https://x.com/JulianKlymochko/status/1974106070688936008) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-03T13:35Z 30.2K followers, XXX engagements


"@Roshan_Gudapati Particularly odd since Apollo was short First Brands loans"  
[X Link](https://x.com/JulianKlymochko/status/1974526224786698446) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-04T17:25Z 30.2K followers, 3656 engagements


"This morning Cenovus Energy bumped its friendly MEG Energy bid by +4.6% to $XXXXX cash + 0.62x shares currently worth $XXXXX in a "best and final" gambit to win the prize it is competing with hostile bidder Strathcona Resources for. In M&A parlance Cenovus' latest effort represents a "knockout bid" for MEG likely causing the out-gunned Strathcona to retreat. It will be a bittersweet result for Strathcona given it will cash out of its XXXX% MEG toehold at a healthy $XXX million+ profit. However Cenovus shareholders can rest easy as the corporation did not break the bank paying a disciplined"  
[X Link](https://x.com/JulianKlymochko/status/1975932042451071458) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-08T14:31Z 30.2K followers, 7534 engagements


"@brentmuio $ARCC $BXSL $OBDC $GBDC $MSDL Disclosure: Long all of these"  
[X Link](https://x.com/JulianKlymochko/status/1975960743821639978) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-08T16:25Z 30.2K followers, 3088 engagements


"As we surmised Strathcona is bowing out of the bidding war for MEG Energy by terminating its hostile takeover bid after realizing it was outgunned by the much-bigger Cenovus"  
[X Link](https://x.com/JulianKlymochko/status/1976775139087020131) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-10T22:21Z 30.2K followers, 5026 engagements


"As secondary market prices reach distressed levels and NAV discounts blow past XX% BDC yields have surged to 14%. They have only been higher twice over the past twenty years - during the GFC of 2008-2009 and the COVID crash of 2020"  
[X Link](https://x.com/JulianKlymochko/status/1977131186439987652) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-11T21:56Z 30.2K followers, 33.8K engagements


"If you love $PZZA like I do (the pizza not the stock) hopefully we don't see quality decline and price go up on this LBO"  
[X Link](https://x.com/JulianKlymochko/status/1978206888928956605) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-14T21:10Z 30.2K followers, 4631 engagements


"The "BDCs are falling because rates are declining" thesis doesnt hold water as the previous bear market happened during a rising rate environment and secondary market pricing was stronger during a zero interest rate environment. The misguided declining rates thesis is a case of price driving narrative. For example if BDC prices were rallying then people would say "of course BDC prices are rallying as rates decline - investors are fleeing money market funds short term bond funds and T-bills in search of higher-yielding alternatives.""  
[X Link](https://x.com/JulianKlymochko/status/1978510935729045555) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-15T17:19Z 30.2K followers, 14.6K engagements


"One of the most fascinating insights is that even though prices are XX% lower in the liquid market most allocators still prefer to invest in non-traded BDCs at XXX% of NAV (25% higher than public BDCs) solely due to the lack of mark-to-market. They prefer a smooth X% instead of a volatile XX% from the same asset - effectively paying 200bps per annum to not be shown the prices"  
[X Link](https://x.com/JulianKlymochko/status/1979262293096698223) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-17T19:04Z 30.2K followers, 56.2K engagements


"BDC NAV discounts wider than peak tariff-tantrum but BDC bond yields 100bps tighter is a weird dynamic if credit risks have increased"  
[X Link](https://x.com/JulianKlymochko/status/1979265732606333421) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-17T19:18Z 30.2K followers, 8883 engagements


"If in fact we are heading into a credit crisis worse than 2008/2009 CDS are likely a good buy here with multi-decade tights in corporate credit spreads"  
[X Link](https://x.com/JulianKlymochko/status/1980034593307926804) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-19T22:13Z 30.2K followers, 3476 engagements


"While BDC NAV discounts are approximate to those experienced in Q2 2020 during the pandemic bear market there was a dramatic difference in private credit loan prices. In Q2 2020 XX% of loans were marked below XX. In comparison last quarter XX% of loans were marked below 80"  
[X Link](https://x.com/JulianKlymochko/status/1980060171792687478) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-19T23:55Z 30.2K followers, 6668 engagements


"Nature is healing - we've had the second leveraged buyout announced since Obliteration Day $AVDX to be acquired by TPG / Corpay for $XXXXX cash per share XXXX% premium $XXX billion It ain't much but it's honest work"  
[X Link](https://x.com/JulianKlymochko/status/1920110659800637869) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-05-07T13:37Z 30.2K followers, 2108 engagements


"Cantor has had a hot hand lately primarily off their $XXI deal. Today they IPO another SPAC Cantor Equity Partners III marking their fourth active SPAC in the market (now three searching for a target). Yes it was oversubscribed. Disclosure: Long $CAEP in $ARB.to"  
[X Link](https://x.com/JulianKlymochko/status/1938227144486006856) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-06-26T13:25Z 30.2K followers, 5574 engagements


"Private equity firms take notice. With X sponsor-backed companies (and X VC-backed) launching IPOs this week now's the time to be taking portfolio companies public and providing liquidity to LPs. The window for IPOs and SPAC mergers is fully open. McGraw Hill $MH Accelerant $ARX NIQ Global $NIQ Carlsmed $CARL"  
[X Link](https://x.com/JulianKlymochko/status/1945241644628107638) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-07-15T21:58Z 30.2K followers, 3749 engagements


"$CCCM is trading dangerously close to NAV ($10.07) - a level in which it could suffer devastating redemptions. Why does the market hate the ProCap Financial deal in particular compared to the other crypto treasury SPACs $CEPO $DYNX $CEP $MBAV $TLGYF"  
[X Link](https://x.com/JulianKlymochko/status/1947691400658837684) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-07-22T16:13Z 30.2K followers, 7139 engagements


"I guess there's no need for a market check or even much price negotiation for a bitcoin treasury merger but the Semler Scientific / Strive merger came together shockingly fast. $SMLR / $ASST signed the confidentiality agreement on Friday and announced the deal Monday am"  
[X Link](https://x.com/JulianKlymochko/status/1970261500880392543) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-09-22T22:58Z 30.2K followers, 4351 engagements


"@stoic_point Not even close to Chamath. Cantor's pre-deal SPACs trade at XXX% XXX% and XXX% NAV premiums for $CEPF $CAEP and $CEPT"  
[X Link](https://x.com/JulianKlymochko/status/1973167177625903596) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-09-30T23:24Z 30.2K followers, XXX engagements


"Today's M&A and SPAC notes $RFAI announced a business combination with Nanyang Biologics $MLAC announced a business combination with Avalanche Treasury $BGFV / Worldwide Golf / Capitol Hill Group deal closed"  
[X Link](https://x.com/JulianKlymochko/status/1973738901346169332) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-02T13:16Z 30.2K followers, 1800 engagements


"Advice for would-be private equity titans when trying to land the largest LBO of all time: Choke out the CEO of the company you are trying to take private $EA"  
[X Link](https://x.com/JulianKlymochko/status/1974858584879239653) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-05T15:25Z 30.2K followers, 4744 engagements


"GOWell Technology / Maywood Acquisition deal overview A one-stop-shop for innovative well logging solutions in the energy sector $XXXXX million EV $XX million PIPE Symbol $GOW PR: IR deck: Disclosure: Long $MAYA in $ARB.to"  
[X Link](https://x.com/JulianKlymochko/status/1978094275993694572) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-14T13:43Z 30.2K followers, 1980 engagements


"@midteensyield Then you are telling me that 2000 private equity owned companies are bankrupt"  
[X Link](https://x.com/JulianKlymochko/status/1979601368236335140) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-18T17:32Z 30.2K followers, XXX engagements


"The sponsor of Texas Ventures Acquisition III sold the SPAC's sponsor to a group of Trump insiders including $DJT's Devin Nunes Yorkville guys and some executives from The Trump Organization. Disclosure: Long $TVA shares + warrants in $ARB.to"  
[X Link](https://x.com/JulianKlymochko/status/1970958914629009636) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-09-24T21:09Z 30.2K followers, 16.6K engagements


"You're not gonna believe this. There are XXX SPACs outstanding. Of those XXX are searching for a deal. Of those XXX pre-deal SPACs just X are trading at a premium to NAV. And of those X guess which one trades at the highest NAV premium Chamath's $AEXA SPAC"  
[X Link](https://x.com/JulianKlymochko/status/1973144108958183809) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-09-30T21:53Z 30.2K followers, 14.4K engagements


"The X are (% NAV Premium): American Exceptionalism Acquisition $AEXA - Chamath (+9.3%) Renatus Tactical Acquisition $RTAC - Trump insiders + Crypto (+7.4%) Texas Ventures III $TVA - Trump insiders (+4.9%) 1RT Acquisition $ONCH - Crypto (+3.7%)"  
[X Link](https://x.com/JulianKlymochko/status/1973144760861995493) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-09-30T21:55Z 30.2K followers, 5694 engagements


"Private credit: Warning - Recession incoming along with a massive default cycle. Leveraged loans and High yield bonds: Nah we're good. No problems in the credit markets whatsoever. A shocking divergence in the sub-investment grade credit market"  
[X Link](https://x.com/JulianKlymochko/status/1976671781340721152) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-10T15:30Z 30.2K followers, 58.9K engagements


"Cutting through the noise and negative sentiment on BDCs here are some interesting insights from a recent call with leading BDCs and sell-side analyst: - BDC sentiment completely disconnected from reality. 15-25% NAV discounts imply defaults that far exceed what happened in the GFC with far lower implied recovery rates. Current discounts imply credit conditions unprecedented even in the worst recessions. - Baby out with the bathwater dynamic as idiosyncratic issues in BSL market has nothing to do with private credit. This has driven investor nervousness and a snowball effect from bad"  
[X Link](https://x.com/JulianKlymochko/status/1979258760989417974) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-17T18:50Z 30.2K followers, 59.2K engagements


"How's this for a winning combination: Trump + Chamath + SPAC The Colombier Acquisition ( $CLBR) team filed an S-1 for their 3rd SPAC featuring a star-studded cast of SPAC royalty. This issue should be HOT. $PSQH $PEW"  
[X Link](https://x.com/JulianKlymochko/status/1979289301411336314) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-17T20:51Z 30.2K followers, 71.5K engagements


"Evernorth / Armada Acquisition II deal overview XRP digital asset treasury company $XXX billion pro forma equity value Symbol $XRPN Closing Q1 2026 PR: IR deck: Disclosure: Long $AACI shares + warrants in $ARB.to"  
[X Link](https://x.com/JulianKlymochko/status/1980362546378056171) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-20T19:56Z 30.2K followers, 3275 engagements


"Imagine you were a central banker under the following hypothetical scenario: - GDP growth rate of XXX% (above trend) - Inflation rate of XXX% (above target) - Unemployment rate of XXX% (full employment) You'd get laughed out of the room if you proposed cutting rates"  
[X Link](https://x.com/JulianKlymochko/status/1980420044208374017) [@JulianKlymochko](/creator/x/JulianKlymochko) 2025-10-20T23:45Z 30.2K followers, 2894 engagements