Jersey Mike’s Prices $1B NYSE IPO at $23; JMKE Debuts Today
Blackstone-backed Jersey Mike’s priced its NYSE IPO at $23/share, raising about $1B at a $7.3B equity valuation; JMKE begins trading July 30.
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M&A Push Puts July IG Bond Sales on Pace for Decade High
Bank of America projects $130 billion of July U.S. investment-grade issuance, just shy of 2015’s record, as M&A financing and Big Tech capex flood the tape.
FDA Clears 20 Zyn Variants for Reduced-Risk Claims
FDA issued modified risk tobacco product orders for 20 Zyn nicotine pouch variants, the first MRTP authorization for the category and Philip Morris’s biggest smoke-free regulatory win since IQOS in 2020.
Alan Greenspan, Fed Chair From 1987 to 2006, Has Died
Alan Greenspan, the Fed’s 13th chair who steered policy through the 1987 crash, dot-com bubble and 1% rates, has died, the central bank said.
Securitize Closes Cantor SPAC; SECZ Trades on NYSE July 2
Tokenization platform Securitize is wrapping its merger with Cantor Equity Partners II, raising about $400M and listing on the NYSE under SECZ on July 2.
Merck KGaA Buys Bio-Techne for $11.3B; TECH Pops 20%
Merck KGaA acquires Bio-Techne for $11.3B in cash at $73/share, a 24% premium. TECH jumped 20% to $70.70 and the arb spread of 3.2% signals a tight deal.
Schwab Joins Prediction Markets With Cboe S&P 500 Bets
Charles Schwab is partnering with Cboe to launch binary yes/no S&P 500 event contracts, pushing prediction-market trading deeper into mainstream brokerage.
IPO Lock-Up Periods Explained: When Insider Selling Hits
How IPO lock-up periods work, why 180 days is standard, the SEC and FINRA rules behind them, and what tends to happen to the stock when they expire.
BFLY Pops 56% as Midjourney Builds Scanner on Its Chip
Butterfly Network jumped 56% to $8.90 after Midjourney unveiled a full-body scanner using 40 ultrasound-on-chip modules under a $74M license deal.
Treasury Yields Jump as Warsh’s Dot Plot Pencils a 2026 Hike
The Fed held rates 12-0 but its new dot plot now sees fed funds at 3.8% by year-end, above the current 3.5-3.75% band – a hawkish first move under Chair Warsh.