Papyrus Capital's Nitin Sacheti updates his $VATE thesis

Nitin Sacheti, Founder and Portfolio Manager at Papyrus Capital, is back to update his INNOVATE (NYSE: VATE) thesis. In his first appearance on the podcast, Nitin went into detail on all segments of the INNOVATE business, a highly levered holding company with three operating segments in: Infrastructure, Life Sciences and Spectrum. The stock has been volatile of late, and as Nitin notes in the beginning of the interview, "because there's a lot in here, there's some businesses that have done better than I had originally thought they would do when we first discussed it 20 months ago." Tune in to learn more. Link to Nitin's first appearance on YAVP talking $VATE: https://youtu.be/eVJMeJFNXIY For more information on Papyrus Capital and Nitin Sacheti, please visit: https://papyruscapital.com/ Chapters: [0:00] Introduction + Episode sponsor: Stream by Alphasense [1:38] Update on INNOVATE $VATE since Nitin's first appearance on Yet Another Value Podcast (link here: https://youtu.be/eVJMeJFNXIY) [7:21] Controlling shareholder, Avi Glazer from Lancer Capital, and how that affects $VATE [16:41] What is going to change the $VATE story? What's tracking better than Nitin's thesis on $VATE? [23:32] Update on the DBM segment [27:24] Other $VATE segments that have worked better than Nitin thought they were going to play out; closer look at R2 segment and Meta Beacon segment update [36:08] What makes the Meta Beacon platform valuable? [40:18] Update on the Spectrum segment and how Nitin thinks about it's value [51:22] What does Nitin think is the most likely piece for $VATE to realize value? Today's episode is sponsored by: Stream by Alphasense Are traditional expert calls in the investment world becoming obsolete? According to Stream, they are, and you can access primary research easily and efficiently through their platform. With Stream, you'll have the right insights at your fingertips to make the best investment decisions. They offer a vast library of over 26,000 expert transcripts, powered by AI search technology. Plus, they provide competitive rates on expert call services, and you can even have an experienced buy-side analyst conduct the calls for you. But that's not all. Stream also provides the ability to engage with experts 1-on-1 and get your calls transcribed free-of-charge—all for 40% less than you would pay for 20 calls in a traditional expert network model. So, if you're looking to optimize your research process and increase ROI on investment research spend, Stream has the solution for you. Head over to their website at streamrg.com to learn more. Thanks for listening, and we'll catch you next time. For more information: https://www.streamrg.com/