Disclaimer

All research, advice, and information provided by Raidillon Capital is intended solely for internal use and authorized recipients.

All information, terms, and pricing set forth herein are indicative, based on, among other things, market conditions at the time of writing and are subject to change without notice. This document is for informational purposes only and is neither an offer to sell securities, commodities, options, or other financial instruments nor a solicitation of an offer to buy securities, commodities, options, or other financial instruments. Raidillon Capital has prepared the information contained in this document in good faith. However, no warranty (express or implied) is made as to the accuracy, completeness, or reliability of any statements, estimates, or opinions or other information contained in this document (any of which may change without notice), and to the maximum extent permitted by law, Raidillon Capital disclaims all liability and responsibility (including, without limitation, any liability arising from fault or negligence) for any direct or indirect loss or damage which may be suffered by any recipient through relying on anything contained in or omitted from this document. Any reader is strongly advised to make their own enquiries and seek independent professional advice regarding information contained in this document. In no way shall Raidillon Capital be deemed to be holding itself out as a fiduciary of the recipient hereof. The recipient must independently evaluate any investment including the tax, legal, accounting, and credit aspects of any transaction. Instruments and trading strategies of the type described herein — including but not limited to multi-leg options positions, event-driven strategies, and leveraged instruments — may involve a high degree of risk, and the value of such instruments may be highly volatile and may be adversely affected by the absence of a market to provide liquidity. Raidillon Capital and its principals and employees may hold such instruments, or options or rights on such instruments and may, as principal or agent, buy or sell such instruments. This material is proprietary to Raidillon Capital and may not be disclosed to third parties. Any unauthorized use, duplication, or disclosure of this document is prohibited.

Raidillon Capital is not a registered investment adviser, broker-dealer, or commodity trading advisor. Nothing contained herein constitutes personalized investment advice, and no content should be construed as a recommendation to engage in any particular investment strategy. Past performance is not indicative of future results.