Search results for bridge loan
Industry
SpaceX IPO may benefit Elon Musk but hurt retail investors
SpaceX is pursuing an initial public offering at a valuation of more than $1 trillion, with losses in its AI business, uncertainty over Starship development and about $30 billion in debt emerging as key risks. A filing cited in a report also highlighted financial burdens, related-party transactions and concentrated voting power. The company put its total addressable market at $28.5 trillion, largely tied to AI, while Starlink generated more than $11 billion in revenue last year.
Industry
Homeplus to suspend operations at 37 stores from May 10 as survival hinges on restructuring plan approval
Homeplus, which is undergoing corporate rehabilitation proceedings, is launching a second round of restructuring by temporarily suspending operations at 37 low-contribution hypermarket stores from May 10 to July 3. It signed a sale contract for its Homeplus Express business with NS Shopping, but said the sale alone is insufficient to secure operating funds and normalise remaining units. Homeplus urged its largest creditor, Meritz Financial Group, to provide bridge and DIP loans.
Crypto
Mara Holdings to buy Long Ridge Energy & Power for $1.5 billion
Mara Holdings, a major bitcoin mining company, plans to acquire Long Ridge Energy & Power from FTAI Infrastructure for $1.5 billion. The purchase price includes Mara assuming more than $785 million in existing debt, with the remainder paid in cash and supported by a Barclays bridge loan. Mara expects the acquisition to add about $144 million in annual adjusted EBITDA based on results for the second half of 2025.
