Most material SEC filings — July 14, 2026

Ares Real Estate funds completed an all-cash acquisition of Whitestone REIT for $19.00 per share/unit, totaling approximately $1.7 billion, as announced July 14, 2026. The transaction acquires 54 convenience-focused retail properties (4.8M sq ft) across U.S. growth markets including Phoenix, Austin, Dallas-Fort Worth, Houston, and San Antonio. Whitestone ceases to be publicly traded following completion.

Ligand Pharmaceuticals (NASDAQ: LGND) completed its acquisition of XOMA Royalty Corporation on July 14, 2026, announced April 27, 2026. XOMA Royalty shareholders received $39.00 per share in cash plus one CVR per share entitling holders to 75% of net proceeds from pending litigation. XOMA Royalty common stock delisted from Nasdaq.

NextCure, Inc. (parent company, ~$12.6M market cap) agreed to merge with Avere Therapeutics, Inc. via two-step merger structure. Avere equity valued at $250M; exchange ratio based on Parent Net Cash calculation and Company Valuation. Merger consideration: Avere stockholders receive Parent Common Stock (subject to Beneficial Ownership Limitation) and Pre-Funded Warrants for excess shares. Parent target cash: $0 (declining $450k/month after Nov 30, 2026). Contingent Value Rights (CVRs) distributed to Parent's pre-merger stockholders. Closing contingent on stockholder approvals, regulatory clearances, and minimum $150M concurrent investment.

Americas Car-Mart reported FY2026 net loss of $139.1M (vs. $17.9M profit in FY2025) on revenue of $1,281.5M (down 7.9%). Sales volumes fell 14.3% to 48,891 units; finance receivables declined 6.4% to $1.41B principal. The company closed 60 dealerships (154→94 active), incurring $11.0M asset impairment. On June 19, 2026, Car-Mart amended its senior secured credit agreement with lenders for covenant relief and a defined runway to pursue financing/strategic alternatives. Management disclosed substantial doubt about going-concern status due to liquidity constraints and inability to secure additional financing; the company cannot assure it will obtain acceptable terms or complete any transaction. Unrestricted cash increased to $47.0M (from $9.8M) after capital preservation actions.

Elite Express Holding Inc. entered into a software development agreement with Leyan Management Ltd dated July 10, 2026, for total contract price of US$3,300,000. The company has already paid the full $3.3M upfront for development of Route X 2.0, an AI-enabled logistics operations intelligence platform with driver management, dispatch, fleet analytics, and compliance modules across six phases. The agreement grants Elite Express exclusive ownership of all work product upon payment; allows Elite Express to terminate anytime with no further payment obligation; and includes developer indemnification for IP infringement.

National Storage Affiliates Trust (NSA) shareholders voted on July 14, 2026 to approve acquisition by Public Storage, with 99.9% of votes cast in favor and >84% of outstanding shares voting in approval. Operating partnership unit holders had previously approved the deal. Transaction expected to close on or about July 22, 2026, pending customary closing conditions. No acquisition price is disclosed in this filing.

Churchill Capital Corp XI (NASDAQ: CCXI) announced a confidential S-4 submission for a proposed business combination with Agility Robotics, a humanoid robotics company. The transaction is expected to provide $620M in gross proceeds: $421M from Churchill XI's trust account (assuming no redemptions) plus ~$201M in new PIPE financing. The combined company will trade as AGLT on a major North American exchange and will be the only publicly listed pure-play humanoid company with active commercial deployments to customers including Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre.

Apollo-managed funds completed acquisition of Emerald Holding, Inc. (NYSE: EEX), a B2B events and media company, for $5.03 per share in cash. Emerald's common stock ceased trading on NYSE. The deal combined Emerald with Questex to create a scaled B2B experiential events platform. Paul Miller became CEO of combined entity; new C-suite appointed includes CFO Vince DiMaggio, COO Issa Jouaneh, CCO Kate Spellman, CTO Kurt Nelson, and CLO Sara Altschul.

Catalyst Bancorp (market cap ~$43M) completed its acquisition of Lakeside Bancshares on July 14, 2026, paying $19.58/share in cash totaling $41.1 million in aggregate. Post-acquisition, Catalyst's total assets grow to ~$620M (from $288.5M pre-deal), with Lakeside contributing $375.7M in assets, $229.8M in loans, and $277.6M in deposits. System conversion planned for November 2026.

VYNE Therapeutics is executing a reverse merger with Yarrow Bioscience, expected to close ~July 24, 2026, with combined entity trading as YARW on NASDAQ. Yarrow in-licensed exclusive rights to YB-101 (anti-TSHR antibody) from GenSci in December 2025 for Graves' Disease and Thyroid Eye Disease treatment outside greater China. $200M raised to date ($100M from pre-closing financing); Phase 2a/2b GD trial initiated Q2 2026 with Phase 2a readout expected H2 2027. Post-closing, Yarrow shareholders will own ~97% of combined company; VYNE shareholders ~3%. Cash runway expected into 2028.

flyExclusive (market cap ~$12.2M) closed its acquisition of Jet.AI's aviation assets on July 14, 2026, adding 3 aircraft (2 HondaJet, 1 Citation CJ4), Jet Card customer base, 3 future Citation CJ3 delivery positions (~$4.1M), ~$6.1M in indirect SPCX shares (subject to lock-up through December 2026), and ~$5.3M cash. Amendment No. 5 to the merger agreement (dated July 13, 2026) clarified accounting treatment for the equity investment in Space Exploration Technologies Corp. under deficit/surplus liquidation scenarios.

Aehr reported Q4 FY2026 revenue of $18.8M (vs. $14.1M prior year), record quarterly bookings of $60.7M, and $100.6M effective backlog as of July 2026. The company issued FY2027 guidance of $130–150M revenue (vs. $50M FY2026), representing 160–200% YoY growth, supported by strong AI processor demand, silicon photonics ramp, and new automotive silicon carbide orders (~$8M in one month). Cash increased to $116.5M following a $97.4M equity offering.

Goldenwise Capital Group, holding ~6.6% of Phunware (approximately 335K-400K shares based on transaction history and market cap of $6.4M), initiated a proxy fight on July 9, 2026. They oppose Chairman Elliot Han's re-election, citing stock collapse from ~$10 (Jan 2024) to ~$1.90 (June 2026), $80M market-cap destruction, $15M annual operating losses against ~$3M revenue, multiple CEO transitions, and board compensation deemed excessive for a $40M-market-cap company. Goldenwise proposes expanding the board and adding three new directors (Shawn Kravetz, Richard Ding, Mona Zhang, Steve Han) or fewer if Han is removed; threatens proxy contest at 2026 AGM if rejected. Han has received ~$630K cumulative compensation since Jan 2024 despite value destruction.

SemiLEDs reported Q3 FY2026 (ended May 31, 2026) revenue of $9.1M vs. $1.1M in Q2, with net income of $1.5M ($0.18/share diluted) vs. loss of $603k in Q2. Gross margin expanded to 27% from 1%, operating margin to 16% from -79%. Cash rose $2.0M to $6.0M. Company attributes surge to increased buy-sell equipment purchase orders and anticipates more in Q4.

Alto Neuroscience conducted a registered direct offering on July 13, 2026, issuing 3,776,436 shares of common stock at $26.48/share via BofA Securities (lead), Stifel Nicolaus, William Blair, and others. Gross proceeds: ~$99.9M; net to company ~$94.5M after $1.46/share underwriting discount. Standard underwriting agreement with 60-day lock-up on officers/directors.

CleanSpark entered a 20-year triple-net lease with an undisclosed high-investment-grade global technology company for its Sandersville, Georgia data center, generating $6.6B in contracted revenue ($11.6B with extensions). The same tenant executed a letter of intent and exclusivity covering CleanSpark's entire 885 MW Texas portfolio. Deliveries begin Q4 2027; estimated landlord costs are $10–$12M per MW for 175 MW of critical IT load, with ~100% NOI contribution margin (~$330M annual average).

Spero acquired exclusive global rights (ex-Greater China) to SP001 (IBI355), a Phase 2-ready anti-CD40L antibody from Innovent Biologics. Deal structure: Innovent receives upfront payment plus development, regulatory, and commercial milestones totaling ~$1.1B, plus tiered royalties on net sales. Concurrently, Spero secured $105M non-recourse financing from Healthcare Royalty (KKR affiliate) backed by Utebzi milestone/royalty streams. Cash runway extended to 2H 2029. Phase 2 trial in IgG4-RD planned for Q2 2027.

On July 13, 2026, Lulu's Fashion Lounge Holdings, Inc. (Nasdaq: LVLU) announced that its Board of Directors formed a special committee of independent directors to evaluate strategic alternatives to maximize stockholder value, including a possible transaction or continued standalone execution. The Special Committee retained Solomon Partners as financial advisor and Willkie Farr Gallagher LLP as legal advisor. The company stated there is no assurance the review will lead to any transaction and does not intend to provide updates unless a specific course of action is approved.

Amendment No. 3 to the 2021 Omnibus Equity Incentive Plan increases the maximum shares reserved for issuance from 1,596,126 to 2,221,126 shares (625,000 additional shares, or 39% increase). The amendment was adopted by the Board on May 18, 2026, and requires stockholder approval within 12 months. No other material terms were modified.

Splash Beverage negotiated settlements with legacy creditors reducing $3.3 million in accounts payable to approximately $550,000 cash payment, yielding an expected $2.75 million gain from debt extinguishment (84% liability reduction for 17% cash outlay). Board approved a 1-for-4 reverse stock split effective July 24, 2026, reducing outstanding shares from ~25.2M to ~6.3M and authorized shares from 400M to 100M, to support NYSE American listing compliance.

On June 16, 2026, Globavend Holdings (total assets ~$11.2M) entered into a Standby Equity Purchase Agreement (SEPA) with an unnamed selling shareholder allowing the shareholder to purchase up to $20 million of ordinary shares over 36 months at prices tied to market volume-weighted average price (93% of VWAP same-day or 96% of lowest 3-day VWAP). This F-1 registers 5,952,380 ordinary shares (~$0.20 par) for resale by the shareholder. Globavend receives no proceeds from secondary sales but may receive up to $20M gross if it exercises purchase rights under the SEPA; intended use: working capital and general corporate purposes.

Ligand Pharmaceuticals completed its acquisition of XOMA Royalty Corporation on July 14, 2026, paying $39.00 per share in cash for ~$739 million in total equity value, plus CVRs tied to pending litigation proceeds. The deal adds 7 commercial products (including Roche's VABYSMO, Servier's OJEMDA, Zevra's MIPLYFFA), 14 late-stage programs, and 100+ development-stage assets, expanding Ligand's portfolio from ~100 to 200+ royalty assets. The transaction is projected to add $0.50 EPS in 2026 and $1.50 EPS in 2027 on an adjusted basis.

Consumer Portfolio Services renewed its two-year revolving credit agreement with Citibank, N.A. on July 9, 2026, increasing facility capacity from $335 million to $508 million (a $173 million increase). The facility, secured by automobile receivables, extends through July 17, 2028 with a subsequent one-year amortization option. Both the primary lender (Citibank) and subordinate lender received capacity increases.

On March 4, 2026, Velo3D converted two Senior Secured Convertible Promissory Notes totaling $15M principal into 1,540,347 shares of common stock: (1) Arrayed Notes Acquisition Corp. converted $5M into 394,517 shares; (2) Thieneman Construction, Inc. converted $10M into 1,145,830 shares. Registration rights agreements executed July 13, 2026 grant demand and piggyback registration rights, with company bearing registration expenses.

Elite Express reported Q2 2026 revenue of $726,829 (+15.3% YoY) with improved gross margin to 11.1% from 2.9%. However, the company posted a net loss of $2,532,942 (vs. $107,604 loss in Q2 2025)—a 2,254% deterioration—driven by $2,150,000 in R&D expenses and G&A expenses that surged 398% to $706,072, primarily due to public-company compliance costs ($115,312 audit/regulatory fees, $196,697 payroll for governance/controls, $200,000 franchise tax increase). The company also earned $216,101 in interest income from a $9.65M loans-receivable portfolio (originated from IPO proceeds), with the remaining balance extended six months at 5% (maturing November 30, 2026). Cash position improved to $5.24M from $1.31M (partly from $7.93M financing activities).

Mesabi Trust declared a distribution of $0.05 per unit payable August 20, 2026 (record date July 30, 2026), down 58% from $0.12 per unit in the prior year period. The cut reflects lower royalty payments from Cleveland-Cliffs/Northshore Mining: $1.625M received April 30, 2026 vs. $2.422M in April 2025 (33% decline), with no bonus royalty included. The Trustees cited Cliffs' supply chain uncertainties, iron ore/steel industry volatility, and macro headwinds.

Palvella Therapeutics reported positive Phase 3 SELVA trial results for QTORIN® 3.9% rapamycin anhydrous gel in microcystic lymphatic malformations (mLMs), achieving statistically significant improvements across primary and secondary endpoints (mLM-IGA +2.13, p<0.001). The company completed a pre-NDA meeting with FDA, received rolling review, submitted the first NDA module in Q2 2026, and targets complete NDA submission in 2H 2026 with potential FDA approval and U.S. launch in 1H 2027. The company raised $230 million in an oversubscribed February 2026 financing and maintains $262 million cash (as of 3/31/26), with 2026 projected expenses of $90–95 million GAAP ($105–110 million). The company is pursuing a pipeline-in-a-product strategy, with Phase 2 positive data in cutaneous venous malformations and new programs in angiokeratomas and disseminated superficial actinic porokeratosis targeting announcement by year-end 2026.

Bridgeline Digital, Inc. (market cap ~$17.4M) entered into a Common Stock Sales Agreement dated July 14, 2026, with WestPark Capital, Inc. authorizing the sale of up to $3,950,000 of common stock at-the-market. WestPark will serve as sales agent, earning a 3.0% commission on gross proceeds. The offering is registered under Form S-3 (Registration No. 333-285176, base prospectus dated February 27, 2025). The company may issue placement shares on an as-needed basis via placement notices; WestPark has no obligation to purchase for its own account unless authorized, and may decline placements in its sole discretion.

Allen Harper assumed Interim CEO role (effective date not specified) replacing prior leadership. Q1 FY2027 revenue was $6.1M vs. $6.4M prior year (−4.1%); net loss widened to $1.2M (−$0.12/share) from $0.3M (−$0.04/share); EBITDA swung negative to −$0.6M from +$0.2M. Company-owned stores increased from 2 to 4; total debt stands at $6.6M; stockholders' equity declined to $4.1M from $5.2M in 3 months.

On April 30, 2026, Diversified Energy acquired oil and gas wells and leasehold interests from Sheridan Holding Company III in East Texas (Cherokee, Harrison, Nacogdoches, Panola, Rusk Counties) for approximately $236 million cash. The acquired assets contain proved reserves of 340.0 billion cubic feet of natural gas, 5.2 million barrels of oil, and 17.8 million barrels of NGLs as of December 31, 2025, with a standardized measure (discounted future net cash flows at 10%) of $344.2 million.

10% owner ICONIQ Strategic Partners VIII Holdings, L.P. (NTSK) bought 306K shares (~$3.8M) on the open market (25% of holdings). Open-market insider purchase — historically a bullish signal.

Director Griffith William J.G. (NTSK) bought 306K shares (~$3.8M) on the open market (25% of holdings). Open-market insider purchase — historically a bullish signal.

Nicholas Brazis departed as CFO on July 10, 2026, for a private company role; Bob Fishman (former EVP/CFO, 6-year tenure) appointed Interim EVP/CFO effective immediately. Q2 2026 sales revised down 17% to ~$930M (vs. prior +1% guide) due to Pool channel inventory destocking (~$170M impact); Q2 Adjusted EPS cut to $1.12 vs. $1.47–$1.50 prior. Full-year 2026 sales now guided down 4–7% (vs. +2–4%), Adjusted EPS down to $4.60–$4.80 vs. $5.30–$5.40; Pool segment sales hit ~$250M, income hit ~$155M for full year. ~$35–$50M IEEPA tariff refunds partially offset. Q2 share repurchase: 2.0M shares for $150M.

Valion Bio announced continued discussions with U.S. government agencies (BARDA, NIAID, AFRRI, DoW) and Ukraine's Ministry of Health regarding Entolimod for Acute Radiation Syndrome preparedness and potential Strategic National Stockpile inclusion; demonstrated 200-fold manufacturing scale-up through wholly owned subsidiary Velocity Bioworks achieving ~1.3 million potential human doses at 50-liter fermentation scale; and plans physician-sponsored studies evaluating Entolimod in oncology supportive care for neutropenia. No funding, procurement, or stockpiling agreements have been executed.

Runway Growth (market cap $282M) announced adviser and affiliates will purchase up to 10% of outstanding common stock over 24 months if shares trade below 70% of NAV ($8.49/share vs. $5.31 closing price on 7/13/26—60% discount). Company also authorized $15M share repurchase program. Q2 2026 fundings totaled $85.8M in new/existing investments (excluding $239.6M from SWK Holdings acquisition completed 4/6/26): $15M Bumble, $40M Rho, $43.4M Dossier (net $27.5M after assignment), $4M SKNV, $19.3M follow-ons, plus $18.5M Blueshift restructure. Portfolio liquidity events: $36.5M proceeds including repayments and $10.1M Eton Pharma equity sale.

Holley Inc. announced a $15 million voluntary debt prepayment on July 14, 2026, funded entirely from free cash flow. Cumulatively, the company has repaid $115 million in debt since September 2023 and expects to generate $4.5 million in annualized interest savings. Management targets reducing net leverage from a peak of 5.67x to below 3.5x by year-end 2026.

First Bancorp (NC) agreed to acquire First Carolina Bancshares Corporation in a merger effective July 14, 2026. Seller shareholders receive $294.94 cash per share plus 14.5340 shares of Buyer common stock per Seller share. Merger consideration is subject to adjustment based on Seller's tangible common equity at closing, with a target range and adjustment mechanics detailed in Section 3.2. The transaction requires Requisite Seller Shareholder Approval (2/3 of outstanding shares) and regulatory approvals from Federal Reserve, FDIC, NC Commissioner of Banks, and SCBFI.

Stephen Mackintosh resigned as Chief Investment Officer effective July 8, 2026. Chairman Marius Barnett will manage the transition until a replacement or interim CIO is appointed. The resignation was not due to any disagreement on financial reporting, operations, policies, or practices. The Board is separately evaluating an enhanced management structure for strategic development.

Kestra Medical Technologies reported FY26 revenue of $95.1M (up 59% YoY) with gross margin expanding to 51.4% from 40.5%, driven by 20,720 ASSURE system prescriptions. The company guided FY27 revenue to $137M (44% growth). Despite strong top-line growth, the company posted a net loss of $131.6M (vs. $113.8M prior year) and adjusted EBITDA loss of $87.0M (vs. $68.4M), with cash and investments of $262.2M as of April 30, 2026.

Q2 2026: Equity Bancshares reported net income of $26.4M ($1.27 EPS; core EPS $1.41) vs. Q1 2026 net income of $17.0M ($0.80 EPS). Net interest income $73.9M (vs. $73.7M Q1), margin expanded 3 bps to 4.36%. Efficiency ratio improved to 53.4% from 56.7%. Frontier Bank acquisition (closed Jan 1, 2026) added ~$1.2B in assets; gross loans $5.4B, deposits $6.3B. Company repurchased 211K shares at $45.02/share in Q2; 711K year-to-date at $44.84. Tangible book value $33.45 (+$0.87 Q/Q). Nonperforming assets rose to 0.86% of total assets from 0.76%, partly due to Frontier additions.

Atrium Therapeutics announced FDA clearance of its IND application for ATR 1072, a precision RNA therapeutic targeting PRKAG2 syndrome. The company will initiate the Corventis Phase 1/2 trial enrolling ~37 participants, with first patient enrollment expected by end of 2026 and proof-of-concept data anticipated in H2 2027. ATR 1072 is Atrium's first precision cardiology program to enter the clinic.