Special Situation

Merger Arb

LNSR Terminates Deal - Is It Worth More Than the $14/Share?

Mar 17, 2026

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13 min read

LNSR Terminates Deal - Is It Worth More Than the $14/Share?

A quick walkthrough on the math post-deal break, and could LNSR still be compelling as a standalone company?

Paul Cerro

Special Situation

Feb 16, 2026

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8 min read

Quick Special Situation: Restaurant Take-Private w/ Potential Bidding War

Why this prized restaurant asset could strike up a bidding war amongst bidders looking to shore up their position in the quick service restaurant (QSR) space. Potential return could be in excess of 35%.

Paul Cerro

Longs

Feb 4, 2026

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19 min read

Special Situation: All Eyes on ABVX

Why we think this biotech trade, while popular, has limited downside risk in the event no suitor comes to scoop them up.

Paul Cerro

Longs

Bunch of Quick Earnings Updates - Part II: (REAL, KITS, SNWV, LNSR)

Nov 13, 2025

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25 min read

Bunch of Quick Earnings Updates - Part II: (REAL, KITS, SNWV, LNSR)

Going over earnings and our thoughts given updated information

Paul Cerro

Special Situation

Oct 21, 2025

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11 min read

WW: The Value Unlock is in the Credit Agreement

Why prioritizing deleveraging alone leads to unrealized equity appreciation

Paul Cerro

Longs

Why We're Excited About These New Situations: LNSR, PRPL, and LE

Sep 8, 2025

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23 min read

Why We're Excited About These New Situations: LNSR, PRPL, and LE

An update on DKS/FL, LNSR and new ideas for PRPL and LE

Paul Cerro

Bankruptcy

Aug 25, 2025

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22 min read

Special Situation: Betting on WW Post-Bankruptcy

Why a slimmed down version of Weight Watchers might be poised to take on the next stage of weight loss

Paul Cerro

Longs

Jun 5, 2025

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21 min read

A Bunch of Quick Position Updates

SHCO, LNSR, LQDA, CPRI, GENK, DKS, and HIMS

Paul Cerro

Special Situation

Market Ignores CPRI Divestment; An Opportunity For New Investors

Apr 13, 2025

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10 min read

Market Ignores CPRI Divestment; An Opportunity For New Investors

Why we still think CPRI shareholders can make an outsized return from selling Versace

Paul Cerro

Longs

Updates: CPRI Divestment & BBW Earnings Opportunity + HIMS Trade Idea

Mar 19, 2025

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18 min read

Updates: CPRI Divestment & BBW Earnings Opportunity + HIMS Trade Idea

Taking a look at the CPRI trade w/ new info and why BBW is looking good after that earnings print

Paul Cerro

Longs

Jan 21, 2025

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24 min read

A Few Updates and Two Pitches

Going over SHCO, LQDA, Capri (CPRI), Tile Shop (TSSH), and the FDA.

Paul Cerro

Longs

Two New 'Special Situation' Positions + Sizing Up A Long And Closing Contracts

Nov 17, 2024

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12 min read

Two New 'Special Situation' Positions + Sizing Up A Long And Closing Contracts

Portfolio Update #8

Paul Cerro

Merger Arb

Tapestry (TPR) & Capri (CPRI) Pre-Court Date Update

Sep 8, 2024

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28 min read

Tapestry (TPR) & Capri (CPRI) Pre-Court Date Update

Looking at the most recent documents leading up to the

Paul Cerro

Merger Arb

M&A Arb Update: Analyzing the FTC Complaint Against Tapestry (TPR) and Capri (CPRI)

May 8, 2024

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33 min read

M&A Arb Update: Analyzing the FTC Complaint Against Tapestry (TPR) and Capri (CPRI)

Rebuttals against core complaints, backed by data and research

Paul Cerro

Merger Arb

M&A Arb Update: The Frustrating Deal That Is Capri and Tapestry

Mar 25, 2024

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10 min read

M&A Arb Update: The Frustrating Deal That Is Capri and Tapestry

What's taking so long for the deal to close (or not)?

Paul Cerro

Merger Arb

Quick Update: Revisiting 2 IPOs and 2 Arb Trades

Feb 12, 2024

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10 min read

Quick Update: Revisiting 2 IPOs and 2 Arb Trades

Recap on Interactive Strength (TRNR), Inspire Veterinary Partners (IVP) and iRobot (IRBT) with an update on Capri Holdings (CPRI)

Paul Cerro

Event-Driven

Jul 23, 2023

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8 min read

RCAT: Event-Driven Trade Could Be Worth ~200%

Dissecting a U.S. Army contract that could reshape the future of Red Cat Holdings

Paul Cerro

Special Situation

LNSR Terminates Deal - Is It Worth More Than the $14/Share?

Quick Special Situation: Restaurant Take-Private w/ Potential Bidding War

Special Situation: All Eyes on ABVX

Bunch of Quick Earnings Updates - Part II: (REAL, KITS, SNWV, LNSR)

WW: The Value Unlock is in the Credit Agreement

Why We're Excited About These New Situations: LNSR, PRPL, and LE

Special Situation: Betting on WW Post-Bankruptcy

A Bunch of Quick Position Updates

Market Ignores CPRI Divestment; An Opportunity For New Investors

Updates: CPRI Divestment & BBW Earnings Opportunity + HIMS Trade Idea

A Few Updates and Two Pitches

Two New 'Special Situation' Positions + Sizing Up A Long And Closing Contracts

Tapestry (TPR) & Capri (CPRI) Pre-Court Date Update

M&A Arb Update: Analyzing the FTC Complaint Against Tapestry (TPR) and Capri (CPRI)

M&A Arb Update: The Frustrating Deal That Is Capri and Tapestry

Quick Update: Revisiting 2 IPOs and 2 Arb Trades

RCAT: Event-Driven Trade Could Be Worth ~200%

Cedar Grove Capital Management