ToffCap’s Monday Monitor

ToffCap’s Monday Monitor

Share this post

ToffCap’s Monday Monitor
ToffCap’s Monday Monitor
ToffCap's Monday Monitor #62

ToffCap's Monday Monitor #62

Actionable event-driven and special situations

Jun 30, 2025
∙ Paid
10

Share this post

ToffCap’s Monday Monitor
ToffCap’s Monday Monitor
ToffCap's Monday Monitor #62
3
Share
bird's-eye view photography of green soccer field with lights

ToffCap’s Monday Monitor is our weekly overview of actionable event-driven trades and special situations.

Disclaimer. ToffCap’s Monday Monitor is provided for informative purposes only. No due diligence has (yet) been performed on the names on this list. The list might change strongly on a regular basis. This overview does not constitute advice; always do your own due diligence. The list is dynamic; it continues to grow and change. If you have interesting additions to the list, feel free to contact us at contact@toffcap.com or on Twitter.

Thanks for reading ToffCap. Subscribe for free to receive new posts and support our work.

If you value this service, please like and hit the “share” button below. Thank you.

Share

This week’s additions and highlights


1. SPIN-OFFS

  • Bit Digital (BTBT US). There's so much going on at Bit Digital that it's hard to fit it all into one bucket. Bit in short: Bit has various businesses under its roof. It recently announced that it intends to spin its data center operations. There's also been a $150m capital raise to acquire Ethereum. Insiders participated in size into the raise. Hype potential.

  • TOP Ships (TOPS US). We flag TOP's spin of Rubico, which will hold its two Suezmax tankers, on June 30. It's micro-caps and shipping, a recipe for volatility (and thus opportunity).

    UPDATE (June 30, 2025) Rubico spin approved by Nasdaq. Spin in July. A reminder that  concurrently the spin-off transaction, Rubico expects to raise $1.5m in a private placement of shares at a purchase price of $20.00 p/s.

  • VivoPower (VVPR US). VivoPower confirmed its plan to spin Caret Digital (5:1), its DOGE mining operations, at a target market cap of $308m. They're also looking for $50m investment. There's so much (craziness) going on at VivoPower that for the first time we decided to split this company's highlights. We refer to the overall TMM document for a background of all that's going on (in short: digital asset treasury pivot, $120m raise, SPAC merger, asset sale and a spin - on a $130m market cap).

    UPDATE (June 30, 2025) VivoPower set July 9, as the record date for a special dividend related to the spin-off of Caret Digital. Anyone gambling, sorry - interested, in DOGE mining operations should take note.


2. STRATEGIC ALTERNATIVES & REVIEWS

(Potential take-outs, asset sales, M&A, etc.)

  • Avalo Therapeutics (AVTX US). Avalo is (probably as expected) a busted, net cash, negative ev biotech. Though not (yet) liquidating, the company is reviewing strategic alternatives for a few programs. $125m cash on a $50m market cap. No idea about the quality of the pipeline, but fwiw there are 8 analyst covering the stock with an average PT of +550%.

  • Leap Therapeutics (LPTX US). Small busted, net cash, negative ev biotech, now reviewing strategic alternatives. Will cut 75% of the workforce. The review includes a potential sale or partnership opportunities for its programs sirexatamab and FL-501. Might be interesting on top of any net cash proceeds.

Keep reading with a 7-day free trial

Subscribe to ToffCap’s Monday Monitor to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 ToffCap
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share