☕ Cool billy

Good morning. The AFL foot tipping prize pool is already at a juicy $1.4k and growing. Not long to go until the season kicks off, so if you're keen to get in on the action, you can join here!

Also, make sure to check out the free tickets on offer to the Emergence 2023 conference below!

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ps. if this was fowarded to you, sign up here > letterofintent.com.au 

LOI Subscriber #TBD

MARKET MOVERS

*Stock data as of the market close. Commodities and crypto data in USD.

Market news: Computershare lost a cool billy from its market cap and hit a 52W low.

The company benefits from higher interest rates, and many now think rates won't rise as high as previously thought in the aftermath of the SVB collapse.

THE QUICK SYNC

• US CPI rose 0.4% in February and 6% from a year ago, in line with market expectations. (CNBC)

• ‘Peak fear’: How Australia’s tech sector handled a bank meltdown (SMH)

• Riled by AUKUS, Beijing builds military and diplomatic defences (SMH)

• NBN Co swings axe and cuts 10% of its workforce (Australian)

• Meta preparing to lay off 10k staff, months after letting go of 11,000 (TC)

• Credit Suisse shares sink further 5% as ‘material weaknesses’ found in financial reporting (CNBC)

TRADING FLOOR

M&A:

• Kelsian Group is acquiring US company All Aboard America! for $500m. (AFR)

• Barrenjoey calls for bids for REST Super’s 10% stake in Endeavour Energy. (AFR)

• Mercury Capital buys a stake in mental health hospital operator Avive Health. (AFR)

• Sheraton Grand Mirage Resort hits the market with $200m price tag. (AFR)

• Paladin Energy could be of interest to Japanese buyers. (The Australian)

• Pact Group’s potential asset sale raises speculations it's facing pressure from lenders (The Australian)

• EastLink's toll road sale process is expected to kick off next month. (The Australian)

• Indonesia's Tat Hong Holdings is understood to be looking for Aussie acquisitions. (The Australian)

Capital Markets:

• Inspired Unemployed-backed Better Beer brews a $20m capital raising (SMH)

• Patriot Battery Metals was preparing for a $25m odd raising to investors. (AFR)

• Burgundy Diamond Mines is seeking to fund its Ekati Diamond Mine acquisition with a $231m equity raising. (AFR)

VC:

• Partington.cc, the bike manufacturer, has raised $2m and looking to add another $1m. (AFR)

• DAS (Digital Agriculture Services), an agri-fintech company, is set for global expansion after Telstra joins the $3m raise. (SmartCompany)

• AMLab, a port automation company, has raised $1.1m with the help of Maiden Capital.

• Milkrun shareholder said to have shopped their stake earlier in the year to see whether there was any buyer interest. (AFR)

Others:

• Purely Byron, the skincare firm backed by Elsa Pataky and Chris Hemsworth, is in administration (BNA)

TOGETHER WITH WHOLESALE INVESTOR

Starting this week, LOI readers now have exclusive complimentary passes to Australia’s largest venture capital conference, Emergence 2023, hosted by Wholesale Investor, March 23-24.

• 750+ Aussie VCs, Investors and Deal Makers… professionals from the VC and Capital Markets space will gather in Sydney CBD to learn, network and access exciting scale-up opportunities.

• 40+ leading speakers and panellists… including folks from Five Sigma, TEN13, Empress Capital, NAB Ventures, BMYG, INP Capital, Flying Fox Ventures, Kotti Capital, Apollo Crypto, Aussie Angels, Gencap Wealth, Investible, Backbone Partners and Antler

• 80+ Founders… across emerging and core sectors will be presenting their opportunities directly to you.

Dealflow, insights, and networking… claim your complimentary pass as an LOI reader here.

THE WATERCOOLER

THE TRADE

• Strategy & Corporate Development Manager — OFX (Learn More)

• Business Development, Vice President (M&A) — GenesisCare (Learn More)

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