Following Agilyx’s strategic pivot announced yesterday afternoon, we see a clear need to reduce our valuation of CCC1-2 and future Cyclyx projects, as the company’s previously communicated growth plans have been materially scaled back. Agilyx is now reallocating resources toward European expansion, a region where we believe much of the industry’s long-term value creation will occur. As a result, we believe AGLX’s valuation increasingly will be anchored in its stake in GreenDot, where it is diffi ....
