Flywire Corporation (FLYW) Traded Lower as Guidance Fell Short of Expectations

Carillon Tower Advisers, an investment management company, released its 'Carillon Eagle Small Cap Growth Fund' first quarter 2025 investor letter. A copy of the letter can be downloaded here. Small-cap stocks experienced a significant drop in Q1, with the Russell 2000 Growth Index (down 11.12%) trailing the Russell 2000 Value Index (down 7.74%). In the Russell 2000 Growth Index, real estate, which increased by 1.76%, outperformed all sectors both absolutely and relatively. The only other sector delivering positive returns was consumer staples, which rose by 0.67%. In addition, please check the fund's top five holdings to know its best picks in 2025.
In its first-quarter 2025 investor letter, Carillon Eagle Small Cap Growth Fund highlighted stocks such as Flywire Corporation (NASDAQ:FLYW). Headquartered in Boston, Massachusetts, Flywire Corporation (NASDAQ:FLYW) is a payments enablement and software company. The one-month return of Flywire Corporation (NASDAQ:FLYW) was 23.13%, and its shares lost 39.01% of their value over the last 52 weeks. On May 23, 2025, Flywire Corporation (NASDAQ:FLYW) stock closed at $11.03 per share with a market capitalization of $1.365 billion.
Carillon Eagle Small Cap Growth Fund stated the following regarding Flywire Corporation (NASDAQ:FLYW) in its Q1 2025 investor letter:
"Flywire Corporation (NASDAQ:FLYW) is a global payments enablement and software company that specializes in secure, scalable and efficient cross-border payment solutions across various industries. The stock pulled back dramatically following 2025 guidance, as the outlook came in lower than investors expected. We continue to evaluate the stock as we believe its valuation has become extremely discounted for a business growing revenues in the double digits, expanding margins, and maintaining a clean balance sheet."
A digital tablet presenting various payment options alongside an educational lecture on the benefits of diverse capabilities.
Flywire Corporation (NASDAQ:FLYW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held Flywire Corporation (NASDAQ:FLYW) at the end of the first quarter, which was 34 in the previous quarter. While we acknowledge the potential of Flywire Corporation (NASDAQ:FLYW) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains.
In another article, we covered Flywire Corporation (NASDAQ:FLYW) and shared the list of best growth stocks under $10 to buy. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors.
READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.
Disclosure: None. This article is originally published at Insider Monkey.

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MakeMyTrip Announces Closing of Offering of US$1.25 billion 0.00% Convertible Senior Notes Due 2030 and Full Exercise of Option to Purchase Additional Notes

NEW YORK & GURUGRAM, India, June 23, 2025--(BUSINESS WIRE)--MakeMyTrip Ltd (NASDAQ: MMYT, the "Company" or "MakeMyTrip"), today announced the closing of its previously announced offering of US$1.25 billion in aggregate principal amount of 0.00% convertible senior notes due 2030 (the "Notes"), and the exercise in full by the initial purchasers of their option to purchase an additional US$187.5 million in aggregate principal amount of the Notes (collectively, the "Notes Offering"). The Notes were offered in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Company also announced today by a separate press release the closing of a registered public offering of 16,000,000 ordinary shares (the "Primary Equity Offering") at US$90 per ordinary share. The underwriters exercised in full their option to purchase 2,400,000 additional ordinary shares. MakeMyTrip received net proceeds from the Notes Offering of approximately US$1.41 billion, after deducting the initial purchasers' discounts and estimated offering expenses payable by the Company. The Company plans to use all of the net proceeds from the Notes Offering and the Primary Equity Offering to repurchase a portion of the Class B ordinary shares of the Company from Group Limited. Terms of the Notes The Notes are senior unsecured obligations of the Company. The Notes will mature on July 1, 2030 unless redeemed, repurchased or converted prior to such date. The Notes will be convertible into ordinary shares of the Company, at the option of the holders, in integral multiples of US$1,000 principal amount, at any time prior to the close of business on the second business day preceding the maturity date. The initial conversion rate of the Notes is 8.2305 ordinary shares per US$1,000 principal amount of Notes (which is equivalent to an initial conversion price of approximately US$121.50 per ordinary share and represents a conversion premium of approximately 35% above the public offering price of the ordinary shares, which was US$90 per ordinary share). The conversion rate of the Notes is subject to adjustment upon the occurrence of certain events. On or after July 10, 2028, MakeMyTrip may redeem for cash all or part of the Notes, at its option (such redemption, an "Optional Redemption"), if (x) the Notes are "freely tradable" (as defined in the indenture for the Notes) and all accrued and unpaid special interest, if any, has been paid in full, as of the date the Company sends the notice of redemption and (y) the last reported sale price of MakeMyTrip's ordinary shares has been at least 130% of the conversion price then in effect on (i) each of at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately prior to the date MakeMyTrip provides notice of redemption and (ii) the trading day immediately preceding the date MakeMyTrip sends such notice. MakeMyTrip may also redeem for cash all but not part of the Notes at any time if less than 10% of the aggregate principal amount of Notes issued remains outstanding at such time ("Cleanup Redemption"). In addition, MakeMyTrip may redeem all but not part of the Notes in the event of certain changes in the tax laws ("Tax Redemption"). The redemption price in the case of a Tax Redemption, an Optional Redemption or a Cleanup Redemption will equal 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the related Redemption Date. Holders of the Notes will have the right, at their option, to require the Company to repurchase for cash all or part of their Notes, on July 3, 2028 at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased plus accrued and unpaid special interest, if any. In addition, subject to certain conditions and a limited exception, holders of the Notes will have the right to require the Company to repurchase all or part of their Notes upon occurrence of certain events that constitute a fundamental change. In connection with certain corporate events or if the Company issues a notice of Optional Redemption, Cleanup Redemption or Tax Redemption, it will, under certain circumstances, increase the conversion rate for holders who elect to convert their Notes in connection with such corporate event or such Optional Redemption, Cleanup Redemption or Tax Redemption. Other Matters Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Notes or the ordinary shares, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Primary Equity Offering was made only by means of a separate prospectus supplement and accompanying prospectus pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission. The Notes and the ordinary shares deliverable upon conversion thereof have not been, and will not be, registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws and are being offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. Forward-Looking Statements This document contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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A number of factors, including macro-economic, industry, business, regulatory and other risks, could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to: MakeMyTrip's ability to grow at the desired rate or scale and its ability to manage its growth; its ability to further develop its business, including new products and services; its ability to attract and retain partners and consumers; its ability to compete effectively in the intensely competitive and constantly changing market; its ability to continue to raise sufficient capital; its ability to reduce net losses and the use of partner and consumer incentives, and to achieve profitability; potential impact of the complex legal and regulatory environment on its business; its ability to protect and maintain its brand and reputation; general economic, social, and political conditions, currency exchange fluctuations and inflation; expected growth of markets in which MakeMyTrip operates or may operate; and its ability to defend any legal or governmental proceedings instituted against it. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties described under "Item 3. Key Information – D. Risk Factors" and in other sections of MakeMyTrip's annual report on Form 20-F for the fiscal year ended March 31, 2025, as well as in other documents filed by MakeMyTrip from time to time with the U.S. Securities and Exchange Commission. All information provided in this release is provided as of the date of issuance of this release, and MakeMyTrip does not undertake any obligation to update any forward-looking statement, except as required under applicable law. About MakeMyTrip Limited We own and operate well-recognized online travel brands, including MakeMyTrip, Goibibo and redBus. Through our primary websites, and mobile platforms, travelers can research, plan and book a wide range of travel services and products in India and overseas. Our services and products include air ticketing, hotel and alternative accommodations bookings, holiday planning and packaging, bus ticketing, rail ticketing, car hire and ancillary travel requirements such as facilitating access to third-party travel insurance, forex services, and visa processing. We provide our customers with access to all major domestic full-service and low-cost airlines operating in India and all major airlines operating to and from India, a comprehensive set of domestic accommodation properties in India and a wide selection of properties outside of India, Indian Railways, and all major Indian bus operators. View source version on Contacts For more details, please contact: Mohit KabraGroup Chief Financial OfficerMakeMyTrip Limitedgroupcfo@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Associated Press

41 minutes ago

• Associated Press

DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Red Cat Holdings

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Red Cat To Contact Him Directly To Discuss Their Options If you purchased or acquired securities in Red Cat between March 18, 2022 and January 15, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] New York, New York--(Newsfile Corp. - June 23, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Red Cat Holdings, Inc. ('Red Cat' or the 'Company') (NASDAQ: RCAT) and reminds investors of the July 21, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. [ This image cannot be displayed. Please visit the source: ] Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Salt Lake City Facility's production capacity, and Defendants' progress in developing the same, was overstated; (2) the overall value of the SRR Contract was overstated; and (3) as a result, Defendants' public statements were materially false and misleading at all relevant times. In March 2022, Red Cat announced that Teal had been selected by the U.S. Department of Defense's Defense Innovation Unit and the U.S. Army to compete in Tranche 2 of the U.S. Army's Short Range Reconnaissance Program of Record (the 'SRR Program'). The SRR Program is a U.S. Army initiative to provide a small, rucksack-portable sUAS to U.S. Army platoons. At all relevant times, Defendants suggested or otherwise asserted that the SRR Program's Tranche 2 contract (the 'SRR Contract') was worth potentially hundreds of millions to over a billion dollars in contract revenues. In March 2023, Company management confirmed that "[t]he Salt Lake City factory is complete and ready to go' and "[w]e now have the capacity to produce thousands of drones per month.' The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Salt Lake City Facility's production capacity, and Defendants' progress in developing the same, was overstated; (ii) the overall value of the SRR Contract was overstated; and (iii) as a result, Defendants' public statements were materially false and misleading at all relevant times. On July 27, 2023, Red Cat hosted a conference call with investors and analysts to discuss its financial and operating results for its fiscal year 2023. During the call, Defendants revealed that the Salt Lake City Facility could only currently produce 100 drones per month, and that the facility was still being built, refined, and expanded. Red Cat filed an annual report on Form 10-K with the U.S. Securities and Exchange Commission the same day, which likewise reported that construction of the facility was only 'substantially completed' and potentially could reach a production capacity of one thousand drones per month over the next 2 to 3 years, but only with additional capital investments and manufacturing efficiencies realized. Following these disclosures, Red Cat's stock price fell $0.10 per share, or 8.93%, to close at $1.02 per share on July 28, 2023. On September 23, 2024, Red Cat issued a press release announcing its financial and operating results for the first quarter of its fiscal year 2025. Among other results, the Company reported losses per share of $0.17, missing consensus estimates by $0.09, and revenue of $2.8 million, missing consensus estimates by $1.07 million. On a subsequent conference call that Red Cat hosted with investors and analysts the same day to discuss these results, Company management disclosed that Red Cat had spent 'the past four months . . . retooling [the Salt Lake City Facility] and preparing for high volume production[,]' while admitting that a 'pause in manufacturing of Teal 2 and building our Army prototypes impacted Teal 2 sales' because, inter alia, Red Cat 'couldn't produce and sell Teal 2 units[] while retooling [its] factory.' On this news, Red Cat's stock price fell $0.80 per share, or 25.32%, over the following two trading sessions, to close at $2.36 per share on September 25, 2024. On November 19, 2024, Red Cat issued a press release announcing that it had won the SRR Contract. On a subsequent conference call that Red Cat hosted with investors and analysts the same day to discuss the contract win, Defendants continued to assert that the SRR Contract was worth potentially hundreds of millions of dollars, while expressing their confidence that Red Cat could realize up to $50 million to $79.5 million in revenue from the SRR Contract during it fiscal year 2025 alone. Then, on January 16, 2025, Kerrisdale Capital ('Kerrisdale') published a report (the 'Kerrisdale Report') alleging, inter alia, that Defendants had overstated the value of the SRR Contract, which Kerrisdale found was only worth approximately $20 million to $25 million based on U.S. Army budget documents. The Kerrisdale Report also alleged that Defendants had been misleading investors about the Salt Lake City Facility's production capacity for years, while also raising concerns about the timing of executive departures and insider transactions that took place shortly after Red Cat announced it had won the SRR Contract. On this news, Red Cat's stock price fell $2.35 per share, or 21.54%, over the following two trading sessions, to close at $8.56 per share on January 17, 2025. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Red Cat's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Red Cat class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. To view the source version of this press release, please visit

Yahoo

an hour ago

• Yahoo

MakeMyTrip Announces Closing of Primary Offering of Ordinary Shares and Full Exercise of Option to Purchase Additional Ordinary Shares

NEW YORK & GURUGRAM, India, June 23, 2025--(BUSINESS WIRE)--MakeMyTrip Ltd (NASDAQ: MMYT, the "Company" or "MakeMyTrip"), today announced the closing of its previously announced underwritten registered public offering of 16,000,000 ordinary shares of the Company, par value US$0.0005 per share (the "Primary Shares"), at an offering price of US$90 per share, and the exercise in full by the underwriters of their option to purchase 2,400,000 additional ordinary shares (collectively, the "Primary Equity Offering"). The Company also announced today by a separate press release the closing of an offering of 0.00% convertible senior notes in an aggregate principal amount of US$1.25 billion due 2030 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and the exercise in full by the initial purchasers of their option to purchase an additional US$187.5 million in aggregate principal amount of the Notes (collectively, the "Notes Offering"). MakeMyTrip received net proceeds from the Primary Equity Offering of approximately US$1.62 billion, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company plans to use all of the net proceeds from the Primary Equity Offering and the Notes Offering to repurchase a portion of the Class B ordinary shares of the Company from Group Limited. Other Matters Nothing in this press release shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Notes or the Primary Shares, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Primary Equity Offering was made only by means of prospectus supplement and accompanying prospectus pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the "SEC"). Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC acted as joint book-running managers for the Primary Equity Offering. The Company filed an automatic shelf registration statement on Form F-3 with the SEC. A preliminary prospectus supplement and the related base prospectus describing the terms of the Primary Equity Offering were filed with the SEC. The final prospectus supplement for the Primary Equity Offering was filed with the SEC. The Primary Equity Offering was made only by means of the prospectus supplement and accompanying base prospectus. You may obtain these documents free of charge by visiting EDGAR on the SEC website at Copies of the prospectus supplement and the accompanying base prospectus may be obtained by contacting: (i) Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or (ii) J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone: 866-803-9204 or by email: at prospectus-eq_fi@ Forward-Looking Statements This document contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this document, including but not limited to, statements about MakeMyTrip's goals, targets, projections, outlooks, beliefs, expectations, strategy, plans, objectives of management for future operations of MakeMyTrip, and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including "anticipate," "expect," "suggest," "plan," "believe," "intend," "estimate," "target," "project," "should," "could," "would," "may," "will," "forecast" or other similar expressions. Forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of MakeMyTrip, which involve inherent risks and uncertainties, and therefore should not be relied upon as being necessarily indicative of future results. A number of factors, including macro-economic, industry, business, regulatory and other risks, could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to: MakeMyTrip's ability to grow at the desired rate or scale and its ability to manage its growth; its ability to further develop its business, including new products and services; its ability to attract and retain partners and consumers; its ability to compete effectively in the intensely competitive and constantly changing market; its ability to continue to raise sufficient capital; its ability to reduce net losses and the use of partner and consumer incentives, and to achieve profitability; potential impact of the complex legal and regulatory environment on its business; its ability to protect and maintain its brand and reputation; general economic, social, and political conditions, currency exchange fluctuations and inflation; expected growth of markets in which MakeMyTrip operates or may operate; and its ability to defend any legal or governmental proceedings instituted against it. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties described under "Item 3. Key Information – D. Risk Factors" and in other sections of MakeMyTrip's annual report on Form 20-F for the fiscal year ended March 31, 2025, as well as in other documents filed by MakeMyTrip from time to time with the U.S. Securities and Exchange Commission. All information provided in this release is provided as of the date of issuance of this release, and MakeMyTrip does not undertake any obligation to update any forward-looking statement, except as required under applicable law. About MakeMyTrip Limited We own and operate well-recognized online travel brands, including MakeMyTrip, Goibibo and redBus. Through our primary websites, and mobile platforms, travelers can research, plan and book a wide range of travel services and products in India and overseas. Our services and products include air ticketing, hotel and alternative accommodations bookings, holiday planning and packaging, bus ticketing, rail ticketing, car hire and ancillary travel requirements such as facilitating access to third-party travel insurance, forex services, and visa processing. We provide our customers with access to all major domestic full-service and low-cost airlines operating in India and all major airlines operating to and from India, a comprehensive set of domestic accommodation properties in India and a wide selection of properties outside of India, Indian Railways, and all major Indian bus operators. View source version on Contacts For more details, please contact: Mohit KabraGroup Chief Financial OfficerMakeMyTrip Limitedgroupcfo@ Sign in to access your portfolio