Interim Portfolio Update - Special Situation (May 2022)

A special situation that presents a valuable opportunity.

On May 2nd, 2022, PharmChem announced a tender offer for $5 million of shares at a purchase price ranging from $3.25 to $3.75. This follows a week of turmoil in their stock price as it crashed following their Q1 earnings report at the end of April. 

This potential transaction is significant enough to warrant me writing an interim portfolio update to docu…