EVENTS:   Best Equity Short Ideas Conference Call 12 - Zach Shannon/Corto Capital Advisors & Craig Huber/Huber Research Partners & Thomas Beevers /Forensic Alpha & Ed Steele/Iron Blue Financials & Bill Campbell/Paragon Intel - 12 Nov 25   Will AI Deflate the World? Macro Lessons from Three Industrial Revolutions and China - Manoj Pradhan/Talking Heads Macro - 13 Nov 25     ROADSHOWS: Forest Products Sector Equity and Commodity Research With Expertise in Distressed Debt - Kevin Mason /ERA Research   •   London   12 - 14 Nov 25       Buyside to Buyside Forum and Expert Calls across TMT, Consumer, Healthcare and Fintech - Andrew Peters /Revelare Partners   •   London   17 - 19 Nov 25       Fundamental US Healthcare Short Ideas - Dr Elliot Favus /Favus Institutional Research   •   London   17 - 19 Nov 25      

Fortnightly Publication Highlighting Latest Insights From IRF Providers

Company Research

BigCommerce Holdings (BIGC)

Technology

BlackRobin Group

US SaaS company issued USD 300m 0.25% 2026 senior convertible bond with 37.5% premium. Despite the low bond floor, delta is 54 with positive yield, and top line sales have grown by 31% CAGR. This growth company has little operating history but the demand for their services is robust as many small retailers are shifting their business online. BIGC can provide a suite of services. Mean stock target price is USD 74.64 or +31% upside.

Edition: 119

- 17 September, 2021