KEDM Lite Vol. 6
A low frequency but juicy strategy where the edge is government incompetence.
Let’s dig in…
This week’s additions and highlights
1. SPIN-OFFS
- Frontier Nuclear and Minerals (FNUC US). Snow Lake recently rebranded to Frontier Nuclear and Minerals, reflecting its pivot away from lithium toward US nuclear fuel. The company wants investors to see it as a nuclear‑focused platform, with uranium projects in Wyoming and Colorado and exposure to enrichment and small modular reactors. As part of this shift, the company is planning to spin off the lithium assets into a separate company, allowing Frontier to focus fully on nuclear opportunities. Given our past success with these tiny (lithium) spins, we’ll certainly keep this one assessed.
- MiniMed (MMED US). MiniMed recently started trading independently after spinning from Medtronic (MDT). As previously mentioned, this is an interesting spin to keep an eye on, as the unit is ~10% of total revenues but is one of the key growth drivers of the group, and also just a fraction of MDT’s market cap.UPDATE (March 17, 2026) Just flagging that MMED is -20% since the spin; so far trading as expected.
- Healthpeak Properties (DOC US). Healthpeak Properties intends to spin Janus Living, its senior housing REIT, somewhere in Q2.UPDATE (March 17, 2026) HP is progressing well with its intended spin, senior‑housing REIT Janus Living, seeking to raise up to $740m (37m shares at $18-20). Cornerstone investors have committed up to $300m. At the top of the range, Janus will have a market cap of around $5bn. The initial portfolio includes 34 senior‑housing communities, heavily concentrated in Florida and Texas. Demand is strong as occupancy and rents keep rising. Healthpeak will retain control after the listing, with shares to trade under JAN.
2. STRATEGIC ALTERNATIVES & REVIEWS
(Potential take-outs, asset sales, M&A, etc.)
- Aethlon Medical (AEMD US). Pico-cap Aethlon Medical is exploring strategic options after ‘receiving inbound interest’, while continuing to advance its clinical work. Its current focus remains on oncology, with a second cohort in an Australian trial completed and safety data under review. The market is certainly very skeptical about this research, but the relatively large net cash position, negative EV and possibility of some interesting IP might make this one worth a look.
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Kuppy’s Event Driven Monitor (“KEDM”) is not a financial or investment advisor and the information contained in this publication is not intended to constitute legal, accounting, or text advice or individually-tailored investment advice and is not designed to meet your personal financial situation. The investments discussed in this publication may not be suitable for you. You are required to conduct your own due diligence, analyses, draw your own conclusions, and make your own investment decisions. Any areas concerning legal, accounting, or tax advice or individually-tailored investment advice should be referred to your lawyers, accountants, tax advisors, investment advisers, or other professionals registered or otherwise authorized to provide such advice. KEDM makes no recommendations whatsoever regarding buying, selling, or holding a specified security, a class of securities, or the securities of a class of issuers, and all commentary is for educational purposes only. The investment examples noted are intended to provide and example of the events and data KEDM flags each week and is not representative of typical returns generated by each event or any future returns.