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Weekly Event-Driven Market Recap
ListingTrack's Free weekly event-driven market recap newsletter.
Listing Track
April 13, 2025
Good evening,
Quick reminder: The weekly newsletter summarizes key market events—IPOs, fundraising, M&A, activist campaigns, and more. This Free edition offers condensed highlights, while the Pro edition—an added benefit for ListingTrack Pro subscribers—includes complete coverage, deeper context, and direct source links in addition to the premium data and advanced features on ListingTrack.io.
We note which companies are excluded from any sections with limited news or coverage in this Free version. Additionally, the “…” next to a bullet means there's more detail available in the Pro version—clicking it will take you to the upgrade page.
Save 20% on ListingTrack Pro plans with the promo code ‘RECAP20’. Last week we launched a new feature for Pro users: Dark Mode is now live!
Enjoy this week's recap!
Theme News Coverage
Tariffs/ Trade War
After the Nasdaq’s worst week since 2020, markets rebounded hard. Trump paused tariffs (excluding China), and stocks responded with historic gains.
Key numbers from the week:
S&P 500: +5.70% (previous week: -9.08%)
Nasdaq: +7.29% (previous week: -10.02%)
VIX: -17.11% (after +109% the week before)
10Y Treasury yield: +12.81% — the sharpest rise since 2001
We put together a comprehensive recap of one of the most volatile trading weeks in years—complete with daily performance, market records, policy shifts, and emerging risks. Read the full Weekly Trade War Recap.
See more: Tariff tracker: our page covering Trade War & Tariff news and the US companies most at risk
AI
Alphabet (GOOG) reaffirmed its commitment to spend $75 billion in 2025 on data center infrastructure and AI development, despite market concerns tied to rising U.S. tariffs. …
OpenAI has reportedly discussed acquiring io Products, the AI hardware startup founded by Jony Ive and backed by OpenAI CEO Sam Altman, for approximately $500 million. …
OpenAI has countersued Elon Musk, alleging a campaign of harassment including legal claims, public attacks, and a rejected $97.4 billion takeover bid aimed at disrupting the company’s operations and governance. …
(1 additional update: GOOG)
Space & Defense
Amazon (AMZN) has postponed the launch of 27 Kuiper internet satellites due to adverse weather conditions, including heavy winds and persistent cumulus clouds, delaying a scheduled liftoff from Cape Canaveral via a United Launch Alliance (ULA) rocket. …
President Trump announced plans for a forthcoming defense budget “in the vicinity” of $1 trillion, marking what would be the first-ever trillion-dollar allocation for the Pentagon. …
Additionally, President Trump signed an executive order initiating a comprehensive review of the Pentagon’s weapons acquisition programs, targeting those exceeding cost or schedule benchmarks by more than 15% for potential cancellation. …
See more: New Space theme page; NextGen Defense theme page
IPOs & Other Initial Public Listings
IPO/ Listing Action
Past week
See more: Latest Listings
Prominent Listings
Expected Listings
Airo Group (Pre-listing: AIRO), a U.S.-based aerospace and defense technology company focused on urban air mobility and drones, is seeking to raise up to $80 million in its IPO by offering 5 million shares priced between $14 and $16. …
Chinese tea chain Chagee Holdings (Pre-listing: CHA) is proceeding with a U.S. IPO to raise up to $411 million by offering 14.68 million ADS at $26–$28 each, targeting a valuation of approximately $3.3 billion. …
Galaxy Digital (GLXY), the crypto financial services firm led by Michael Novogratz, has received SEC approval for a direct listing on the Nasdaq. …
See more: Upcoming Listings
Listing Plans Rumors
See more: Listing Plans & Rumors
IPO Market Commentary & Post-IPO Coverage
Silicon Valley’s long-anticipated IPO pipeline has stalled amid global market turmoil triggered by President Donald Trump’s sweeping tariff announcements. Key IPO candidates like StubHub, Klarna, and eToro have paused their listing plans, with some unlikely to proceed in 2025. …
A Delaware judge has ruled that Newsmax (NMAX) broadcast false and defamatory statements about Dominion Voting Systems' role in the 2020 U.S. election, allowing Dominion’s $1.6B defamation lawsuit to proceed to trial. …
IPO Candidates
See more: IPO Candidates
Series C+ and Prominent Fundraising
AI, Autonomous, Drones
Mira Murati, former CTO of OpenAI, is reportedly raising over $2 billion in venture funding for her new AI startup, Thinking Machines Lab, doubling the $1 billion target reported two months prior. The valuation being sought is at least $10 billion. …
Rescale, a digital engineering platform focused on advanced computing and AI for R&D, raised $115 million in Series D funding, bringing total funding to over $260 million. …
BRINC, a U.S.-based emergency response drone manufacturer, raised $75 million in a new funding round led by Index Ventures, with participation from Motorola Solutions (forming a strategic alliance), Mike Volpi, and Figma CEO Dylan Field. …
Autonomous driving company Nuro has raised $106M to date in its ongoing Series E round, valuing the firm at $6B. …
Energy
Texas-based residential battery startup Base Power Inc. has raised $200M in Series B funding to support national expansion and the construction of its first manufacturing facility in Texas. The round was led by Addition LP (Lee Fixel) and included Andreessen Horowitz, Lightspeed Venture Partners, Thrive Capital, Valor Equity Partners, Altimeter, and others. …
Cybersecurity / Enterprise Software
AI-driven staffing platform Jobandtalent raised €92 million ($103 million) in a Series F round at a post-money valuation of €1.3 billion ($1.5 billion), down from $2.35 billion in its 2021 Series E. …
Toronto-based security startup Tailscale has raised $160M in a new funding round led by Accel, with participation from CRV, Insight Partners, Heavybit, Uncork Capital, and CrowdStrike CEO George Kurtz. …
Healthcare
Caris Life Sciences raised $168 million in a growth capital round led by existing investor Braidwell LP, with participation from new investors Perceptive Advisors, Woodline, and Ghisallo, as well as existing backers Millennium Management and First Light Asset Management. …
Featured ListingTrack Tool
Tariff Tracker
After last Wednesday’s tariff announcement from the Trump administration, markets saw one of the steepest selloffs since the COVID crash—marking one of the most volatile weeks in recent memory. This week the market bounced back aggressively in one of the market’s most volatile weeks on record.
To help investors navigate these developments, we launched the Tariff Tracker on ListingTrack: 🔗 listingtrack.io/theme/tariffs
The Tracker offers a curated overview of the sectors and companies most affected by tariff shifts, with filters to drill down by industry and country of import exposure. It includes:
Summarized, curated tariff news
Deal activity and earnings updates for impacted companies
Sector and country-level filtering for focused discovery
We’re actively updating it as new developments unfold. Take a look and let us know what you think.
Screenshot of our Tariff tracker theme page
Public M&A
Merger Announcements
See more: Active M&A
Closings
Expected Closings
Altus Power (AMPS) shareholders approved the previously announced acquisition by TPG through its TPG Rise Climate Transition Infrastructure strategy. … Deal Page
MoneyLion's (ML) acquisition by Gen Digital (GEN) is expected to close on April 15. — NYSE / Deal Page
Turn/River Capital's acquisition of SolarWinds Corp (SWI) is expected to close on April 16. — NYSE / Deal Page
Chimerix's (CMRX) acquisition by Jazz Pharmaceuticals (JAZZ) is expected to close ahead of trading on April 21, following the tender offer expiration on April 17. — Nasdaq / Deal Page
Patterson Companies' (PDCO) acquisition by Patient Square Capital is expected to close prior to market open on April 17. — Nasdaq / Deal Page
Paycor HCM's (PYCR) acquisition by Paychex (PAYX) is expected to close ahead of trading on April 14. … Deal Page
(1 additional update: GOOG)
See more: Closed M&A
Live Deal Coverage and Updates
President Donald Trump ordered a new review of Nippon Steel’s proposed $14.1 billion acquisition of US Steel (X), reopening a deal previously blocked by the Biden administration on national security grounds. … Deal Page
The $34 billion cash-and-stock acquisition of Ansys (ANSS) by Synopsys (SNPS), announced in January 2024, faces growing uncertainty due to delays in securing approval from Chinese regulators — the final major hurdle. … Deal Page
Paychex (PAYX) priced a $4.2 billion senior notes offering to fund its acquisition of Paycor HCM (PYCR). … Deal Page
Potential M&A News
Capgemini is in advanced talks to acquire outsourcing firm WNS Holdings (WNS), having emerged as the lead bidder after fending off competing suitors. … Deal Page
El Pollo Loco (LOCO) received an unsolicited, non-binding acquisition proposal from Biglari Capital Corp. to acquire the remaining shares it does not already own. … Deal Page
(3 additional updates: ConnectM, PureTech Health, Keros Therapeutics)
See more: Potential M&A
Post-M&A Coverage
Elon Musk failed to appear for a scheduled deposition on April 3, 2025, related to an investor lawsuit alleging his 2022 bid to acquire Twitter (X Corp. (fka Twitter) - acquired by XAi) was intended to manipulate the stock price. …
Prominent Private Deals (private targets, including public subsidiaries)
TikTok US Updates
President Donald Trump confirmed that a potential deal to spin off
TikTok’s U.S. operations remains under consideration, following a brief pause. …
Announcements/ Closings
Capri Holdings (CPRI) has agreed to sell Versace to Prada for $1.375B in cash, a significant markdown from the $2.1B Capri paid in 2018. …
Ripple has agreed to acquire digital assets and FX prime brokerage Hidden Road for $1.25 billion, marking its largest acquisition to date and one of the largest in the crypto industry. …
A group led by Ari Emanuel and backed by Apollo Global Management and RedBird Capital Partners has won the auction to acquire Endeavor’s tennis assets, including the Miami Open and Madrid Open, for more than $1 billion. …
Live Deal Coverage
Constellation Energy (CEG) defended its proposed $16.4 billion acquisition of privately held Calpine before the Federal Energy Regulatory Commission, addressing concerns from consumer groups about potential market power. … Deal Page
DSV has received EU antitrust clearance for its €14.3 billion ($15.8 billion) acquisition of Schenker, the logistics arm of Deutsche Bahn. …
SC Capital Partners, backed by CapitaLand Investment, has emerged as the sole potential bidder for British data center operator Global Switch, according to Reuters sources. …
Activism, Shorts, & Other Special Situations
Activism, Investor Disputes & Shorts
Activism
Elliott Investment Management has intensified its proxy campaign against Phillips 66 (PSX), gaining the backing of Gregory Goff, a former ConocoPhillips executive and current $10M shareholder in the company. …
Ancora Holdings has withdrawn its proxy campaign to replace U.S. Steel’s (X) CEO after President Trump directed a renewed CFIUS review of Nippon Steel’s proposed $14.1 billion acquisition. …
See more: Activism
Separations
Bankruptcies/ Delistings
WW International (Weight Watchers) (WW) is preparing for a potential Chapter 11 bankruptcy filing to transfer control of the company to creditors amid mounting financial strain and competitive disruption from GLP-1 weight-loss drugs like Ozempic. …
Gritstone bio (OTC: GRTSQ) shares were canceled worthless as its bankruptcy became effective.
(8 additional updates: Marin Software, Vincerx Pharma, First Financial Northwest, Mondee Holdings, Nxu, ClimateRock, Global Lights, Metal Sky Star)
Thanks for reading,
The team at ListingTrack
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Market Data and Coverage: All market data presented is based on the stock prices at the close of the previous trading day. We cover the US market only at this time.
Abbreviations: PR: Press Release, SF: Company SEC filing, IP: Investor Presentation, BB: Bloomberg.
DISCLAIMER: The information provided in this newsletter is for your convenience only and is not intended to be treated as financial, investment, tax, or other advice. ListingTrack and its parent, CommonFi, do not make any guarantees, representations, or warranties as to, and shall have no liability for, the timeliness, truthfulness, sequence, quality, completeness, or accuracy of any of the information or data provided in this newsletter or on the ListingTrack website.