TECH BULLETIN

Friday, June 5, 2026

Tech Market Context: Macro Drivers

Key macro instruments that drive tech market movements: yields, dollar, risk appetite

Market Commentary

Today's Interesting Company News

Securitize and Cantor Equity Partners II Announce SEC Declaration of Effectiveness of Registration Statement on Form S-4

(NASDAQ: CEPT) Securitize, Inc. and Cantor Equity Partners II, Inc. (NASDAQ: CEPT) announced that the U.S. Securities and Exchange Commission has declared effective the Registration Statement on Form S-4 filed by Securitize Holdings, Inc. in connection with their proposed business combination. The proposed business combination will be submitted to CEPT shareholders of record as of May 11, 2026, for approval at a special meeting scheduled for June 29, 2026, and if approved, is expected to close shortly thereafter, subject to the satisfaction of customary closing conditions. Upon closing, the combined company is expected to operate under the name Securitize Corp., and its shares are expected to trade on the NYSE under the ticker symbol "SECZ." Securitize is described as the world's leader in tokenizing real-world assets with $4B+ AUM (as of April 2026). Securitize has announced collaborations with the New York Stock Exchange, Computershare, Jump Trading, Jupiter, and asset managers including BlackRock, Apollo Global Management, Hamilton Lane, KKR, and VanEck. The company has been recognized as a 2026 Forbes Top 50 Fintech company. The company projects that, if approved, the business combination is expected to close shortly after June 29, 2026, subject to the satisfaction of customary closing conditions.

SurgePays Signs Master Services Agreement With BrandRap to Build Artificial Intelligence (AI) Decisioning Engine to Drive Higher Revenue Per Subscriber

(NASDAQ: SURG) SurgePays, Inc. announced it has engaged BrandRap, an Irvine, California-based artificial intelligence and operations consultancy, to build a real-time AI decisioning engine to drive higher revenue per subscriber on ProgramBenefits.com. The Company expects Phase 1 production delivery of the build-out for July 2026. The underlying consumer intake platform operated by Surge Logics, Inc., a SurgePays subsidiary, generated more than $50 million in legacy revenue under its prior model. SurgePays relaunched under the ProgramBenefits.com brand in November 2025, expanded distribution to three demand aggregators in December 2025, and advanced the architecture to real-time AI decisioning on April 21, 2026. ProgramBenefits.com is generating over 1,000 new customer adds per day and remains well below operating capacity. SurgePays delivers prepaid wireless and financial products to approximately 138 million subprime consumers in the United States through its proprietary point-of-sale platform deployed across approximately 9,000 convenience stores. The company projects that the decisioning engine will automate routing consumers to multiple eligible products from one session, lifting revenue per subscriber from traffic the Company already owns while reducing and ultimately eliminating the cost to acquire the customer.

EVA Live Launches FastQuoteDirect, It’s AI-Powered Consumer Engagement Platform Across 5.6 Billion Dollar Market

(NASDAQ:GOAI) EVA Live, Inc. announced the deployment of its next-generation AI-powered customer engagement platform for FastQuoteDirect.com (FQD), powered by EVA Live’s NeuroServer technology. The new platform has been launched across two core verticals, Home Services and Financial Services. FastQuoteDirect has secured relationships with one of the nation’s largest home security and alarm providers and one of the country’s leading personal lending companies. Key product enhancements include AI-powered consumer engagement and qualification, real-time conversational shopping assistance, automated lead nurturing and routing, increased generation of high-intent leads and inbound calls, and improved matching between consumers and service providers. The initial rollout focuses on the Home Services and Financial Services markets. The company’s proprietary platforms enable businesses to automate marketing decisions, improve efficiency, and scale customer engagement through real-time AI optimization. The company cautions that forward-looking statements are not guarantees of future performance and that actual results may differ materially.

Bitmine Immersion Technologies Announces Pricing of Upsized Series a Perpetual Preferred Stock Offering

(NYSE:BMNR) Bitmine Immersion Technologies, Inc. announced the pricing of its upsized offering of 3,500,000 shares of 9.50% Series A Perpetual Preferred Stock at a public offering price of $80.00 per share. This reflects an increase from the previously announced offering of 3,000,000 shares. The issuance and sale are scheduled to settle on June 10, 2026, subject to customary closing conditions. The Company estimates that the net proceeds it will receive from the offering will be approximately $273.8 million, after deducting the underwriting discounts and commissions and the Company's estimated offering expenses. The Series A Preferred Stock will accumulate cumulative dividends at a fixed rate of 9.50% per annum on the stated amount, which is $100 per share, and regular dividends will be payable weekly in arrears, solely in cash. The Company has applied to list the Series A Preferred Stock on The New York Stock Exchange under the symbol "BMNP," and expects trading to commence within 30 days after the date the Series A Preferred Stock is first issued. The Company intends to use the net proceeds for general corporate purposes, which may include the acquisition of additional ETH and other digital assets, expansion of staking and validator infrastructure, working capital, strategic investments aligned with the Ethereum ecosystem, and/or repurchases of the Company's common stock.

Hitachi and Intel Announce Strategic Collaboration to Accelerate AI Transformation Across Key Industries

(NASDAQ: INTC) Intel Corporation and Hitachi, Ltd. announced a strategic collaboration to explore opportunities that advance physical AI, advanced computing, and next-generation digital infrastructure across manufacturing, energy, mobility and other critical industries. The companies plan to work together across five strategic pillars—foundry tools, quantum computing, energy optimization, custom silicon and edge-AI applications, and factory automation. Hitachi gathers high-precision data generated from its market-leading metrology systems, dimension scanning electron microscopes (CD-SEMs), as well as etching systems, on the integrated platform "ExTOPE." Hitachi's HMAX Energy will be deployed within Intel's fabs to provide managed services for core power equipment, while Intel plans to supply high-voltage silicon chips to further improve Hitachi's power systems. Revenues for FY2025 (ended March 31, 2026) for Hitachi totaled 10,586.7 billion yen, with 606 consolidated subsidiaries and approximately 290,000 employees worldwide. The companies plan to combine Hitachi's information technology (IT) expertise, deep operational technology (OT) and product manufacturing knowledge with Intel's advanced computing capabilities and silicon-based platforms to develop next-generation compute capabilities and industry solutions. The partnership also aims to accelerate the advancement of quantum technologies and create new value.

Legato Merger Corp. III Shareholders Approve Business Combination With Einride

(none found in source) Einride AB and Legato Merger Corp. III announced that Legato's shareholders voted to approve the previously announced business combination between Einride and Legato at a special meeting of shareholders held on June 4, 2026. The Transaction values Einride at a pre-money equity value of $1.35 billion. Einride raised $113 million through an oversubscribed PIPE financing in connection with the Transaction. Einride currently counts more than 30 enterprise customers across seven countries, with approximately $92 million in expected annual recurring revenue (ARR) from signed contracts and over $800 million in potential long-term ARR through joint business plans with blue-chip customers. Upon completion of the Transaction, the combined company's ordinary shares and warrants are expected to commence trading on the Nasdaq under the ticker symbols "ENRD" and "ENRDW," respectively. The company projects approximately $92 million in expected annual recurring revenue (ARR) from signed contracts and over $800 million in potential long-term ARR.

Hut 8 Announces Pricing of $4.25 Billion of Investment-Grade Senior Secured Notes for Beacon Point Data Center Project

(TSX:HUT) Hut 8 Corp. announced that its wholly-owned subsidiary, Beacon Point DC LLC, has priced a $4.25 billion private offering of 6.129% senior secured notes due 2042. The Notes will be offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 and to non-U.S. persons in reliance on Regulation S. The Offering is expected to close on June 9, 2026, subject to market and other conditions. Proceeds from the Offering will finance the development and construction of a turnkey data center with six data halls totaling 352 megawatts of critical IT capacity on a 521-acre property in Nueces County, Texas, and the construction of a substation on the property. The Notes will bear interest at a rate of 6.129% per annum, payable semi-annually in cash in arrears on May 30 and November 30 of each year, beginning on November 30, 2026, and will mature on November 30, 2042. The Notes will be fully amortizing with amortization payments payable semi-annually beginning on May 30, 2030, and are non-recourse to Hut 8. The data center facility will be leased to a tenant that is a high-investment-grade company rated AA- or higher as of the date hereof.

ServiceTitan Announces Fiscal First Quarter Financial Results

(NASDAQ: TTAN) ServiceTitan announced financial results for the fiscal first quarter ended April 30, 2026, reporting total revenue of $268.8 million and gross transaction volume (GTV) of $21.7 billion. The company achieved year-over-year GTV growth of 23% and year-over-year revenue growth of 25%. Platform revenue for the quarter was $260.6 million, with a GAAP loss from operations of ($25.8) million and a GAAP operating margin of -9.6%. Non-GAAP income from operations was $40.8 million, with a non-GAAP operating margin of 15.2%. Net cash used in operating activities was $(1.6) million, and non-GAAP free cash flow was $(9.6) million. The company projects total revenue of $284-$286 million for fiscal second quarter 2027 and $1,130-$1,140 million for the full fiscal year 2027, with non-GAAP income from operations expected to be $38-$39 million for Q2 and $142-$147 million for the full year.

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