A NOTE | No live tonight — but here's your homework

No live. Family time. The fight will still be here tomorrow, and so will I.

But I won't leave you empty-handed. Here are a few research threads. Pull them yourself. Don't take my word — take the registry's.

The one I want you to start with

Martin Bundgaard.

Owner of Aerbio. 33.08% through Sundvænget Invest ApS. Director of the company that became Aerbio, from 1 May to 15 August 2024. That's all CVR. Public. Verifiable. Largest profitor from the pump and dump @shape.

Now here is the part you won't forget.

Martin Bundgaard is not just a former stockbroker. He is a market commentator for Økonomisk Ugebrev. And in July 2023 — read the date — he published a piece on market abuse in Denmark. His own argument, in his own byline: the small fish who trade on price-sensitive information go to prison, while the insiders who pass that information around walk away with modest fines.

Let that sit.

The man wrote the manual. On how market abuse works in Denmark. On who pays and who walks.

I am not telling you what to conclude. I am telling you the article exists, the byline is his, and the date is real. Go find it on ugebrev.dk. Read it. Then ask yourself who he was describing.

Your research themes for tonight

The 2023 article. Find Bundgaard's own writing on insider trading and market abuse. Compare what he described in 2023 to what the registry shows about 2024.

The timeline overlap. DBB BidCo founded 1 May 2024. The selling window. The 11 September renaming to Aerbio. The 18 October UBO lock at 33.08%. Lay the dates side by side. I'm not drawing the line for you. Draw it yourself.

The chairman. Lars Topholm — chairman of Aerbio since 15 August 2024, the same day Bundgaard stepped down as director. Lars Topholm replaced his best friend! Per CVR. Ask why the handover happened on that exact date.

The watchdog's wallet. Økonomisk Ugebrev's own subsidiary took a pre-IPO position in Aerbio. The same outlet whose commentator owns it. Ask what that does to coverage.

Go dig. I'll be at dinner.

GAME OVER — tomorrow.

#ShapeRobotics #SHAPE #Aerbio #ØkonomiskUgebrev #Bundgaard #Topholm #marketabuse #CVR #investorrights #transparency #Denmark