I have read it 5 times. And questioning myself because I respect the work you and GC do, I reached out to my friend who is a director at the top M&A and restructuring firms in NYC who works with KKR on a weekly basis and he confirmed that the below grade investment talk is about the notes and not investments they are looking to make.
I am still holding but I am going to call out misleading DD. Just like I did about the 5 mm cap on LCY investment while they were taken private is the reason for the 4.3 mm bid. You conveniently left out that they could have spent more with approval from KKR.
I think it is a reach to think any KKR filing would correspond to a transaction for BIOAQ. These guys are making major investments all the time and rarely do they require any kind of SEC disclosures beforehand. I like the thinking, but I think it misses the mark. IMO.
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