M&A Transactions

High Roller Technologies, Inc. completed an acquisition involving Happy Hour Entertainment Holdings Ltd. for the domain name www.casinoroom.com and all variations and extensions (closed 2025-12-31).

“the Buyer acquired from the Seller all of the issued and outstanding shares of Happy Hour Solutions Ltd.”

Independence Power Holdings, Inc. underwent a change of control involving Independence Power Holdings, Inc..

“On the Closing Date, the Company consummated the Merger pursuant to the Merger Agreement described under Item 1.01 of this Report. As a result of the Merger, Independence Power became a wholly-owned subsidiary of the Company, and Independence Investors was issued 32,000,000 shares of Class B Common Stock.”

VisionWave Holdings, Inc. completed an acquisition involving Adrian Holdings S.R.L. for $10,000,000 (closed 2026-01-05).

““Assigned IP”), as more fully described in the Agreement. In consideration for the Assigned IP, the Company agreed to pay the Seller aggregate consideration consisting of (i) 10,000,000 shares of the Company’s common stock, par value $0.01 per share (the “Purchase Shares”), and (ii) a promissory note in the principal amount of $10,000,000 (the “Note”). At”

Callaway Golf Co completed a disposition involving LGP TG Aggregator, LLC for approximately $800 million in net proceeds (closed 2026-01-01).

“effective January 1, 2026, the Sellers completed the sale of a 60% stake in the Topgolf and Toptracer businesses for approximately $800 million in net proceeds”

PIXELWORKS, INC completed a disposition involving Tiansui Xinyuan Technology (Shanghai) Co., Ltd. for approximately $51.0 million (closed 2026-01-06).

“49% of the total outstanding shares of PWSH capital stock on the Closing Date, to the Buyer; and (iv) the Buyer paid the Company approximately RMB 357 million, or approximately $51.0 million in U.S. dollars which is net of transaction costs and withholding taxes paid in China. The remaining transaction expenses incurred by the Company in connection with the Sale, not”

ONE STOP SYSTEMS, INC. completed a disposition involving Hiper Euro GmbH for $22.0 million (closed 2025-12-30).

“On December 30, 2025, One Stop Systems, Inc., a Delaware corporation (the “Company”) entered into and completed a Shares Purchase Agreement (the “SPA”) with Hiper Euro GmbH, a limited liability company incorporated and organized under the laws of Germany (“Buyer”) pursuant to which the Buyer acquired 100% of the issued and outstanding limited liability company interest of One Stop Systems, GmbH, a limited liability company incorporated and organized under the laws of Germany (“Holdings”), the sole owner of Bressner Technology GmbH (“Bressner GmbH”), (the “Transaction”). Pursuant to the SPA, the Buyer acquired 100% of the equity interest of Holdings for a base purchase price of $22.0 million”

Mersana Therapeutics, Inc. underwent a change of control involving Day One Biopharmaceuticals, Inc. for $25.00 per Share in cash plus one non-tradeable contingent value right per share (closed 2026-01-06).

“offer (the “Offer”) to acquire all of the issued and outstanding shares (the “Shares”) of common stock, par value $0.0001 per share, of the Company (the “Common Stock”), for (i) $25.00 per Share, net to the stockholder in cash, without interest and less any applicable tax withholding(the “Upfront Cash Consideration”), plus (ii) one non-tradeable contingent value”

Skyward Specialty Insurance Group, Inc. completed an acquisition involving Sellers (Majority Sellers and Minority Sellers of Apollo Group Holdings Limited) for $555.0 million (closed 2026-01-01).

“Sellers" and together with the Majority Sellers, the "Sellers"). The consideration for the entire issued share capital of Apollo (the "Apollo Shares") under the Apollo SPAs is $555.0 million. On January 1, 2026 (the “Closing Date”), the Company consummated the Acquisition and related transactions pursuant to the Apollo SPAs (the “Closing”). hares") under the Apollo”

Investar Holding Corp completed an acquisition involving Wichita Falls Bancshares, Inc. for 3,955,334 shares of common stock and $7.2 million in cash (closed 2026-01-01).

“the merger of First National Bank with and into Investar Bank, with Investar Bank as the surviving bank. Under the terms of the Merger Agreement, Investar issued an aggregate of 3,955,334 shares of its common stock and $7.2 million in cash to the shareholders of WFB as consideration for the exchange of their shares of WFB common stock. The foregoing description of”

Day One Biopharmaceuticals, Inc. completed an acquisition involving Mersana Therapeutics, Inc. for $25.00 per Target Share plus one non-tradable contingent value right (closed 2026-01-06).

“offer to purchase all of the issued and outstanding shares (the “ Target Shares ”) of Target’s common stock, par value $0.0001 per share (the “ Target Common Stock ”), for (i) $25.00 per Target Share (the “ Upfront Consideration ”), net to the stockholder in cash, without interest and less any applicable tax withholding, plus (ii) one non-tradable contingent”

NORWOOD FINANCIAL CORP completed an acquisition involving PB Bankshares, Inc. for approximately $10.5 million in cash and approximately 1,670,000 shares of common stock of the Company (closed 2026-01-05).

“a share of common stock, par value $0.10 per share, of the Company. In the aggregate, the merger consideration paid to PB Bankshares shareholders will consist of approximately $10.5 million in cash and approximately 1,670,000 shares of common stock of the Company. Immediately following the Merger, Presence Bank was merged with and into Wayne Bank, a wholly-owned”

SPECTRAL CAPITAL Corp completed an acquisition involving Telvantis, Inc. (formerly Raadr, Inc.) for up to 10,000,000 shares of the Company's common stock (closed 2025-12-31).

“of Telvantis Voice Services, Inc., a Florida corporation (the “Acquired Company”). Under the terms of the Purchase Agreement, the Company agreed to issue an aggregate of up to 10,000,000 shares of the Company’s common stock as consideration for the acquisition, consisting of: · 1,500,000 shares of the Company’s common stock issued at closing; and · Up to 8,500,000”

Transglobal Management Group, Inc. completed a disposition involving Marc and Jacquie Angell for no direct consideration to Company (closed 2025-10-20).

“100% of the issued and outstanding shares of Music of Your Life, Inc., a Nevada corporation ("MYLI"), were transferred back to Marc and Jacquie Angell, including all trademarks, copyrights, recordings, broadcasts, media assets, licensing rights, merchandising rights, and other intellectual property or tangible assets associated with the "Music of Your Life" brand and business.”

Transglobal Management Group, Inc. completed an acquisition involving GetGolf for aggregate purchase price of $500,000, payable over 12 months (closed 2025-10-20).

“f the GetGolf Transaction: · On October 20, 2025, all outstanding 200 Series Board of Directors effective as of that date, and Mr.”

Transglobal Management Group, Inc. underwent a change of control involving GetGolf for aggregate purchase price of $500,000, payable over 12 months (closed 2025-10-20).

“f the GetGolf Transaction: · On October 20, 2025, all outstanding 200 Series Board of Directors effective as of that date, and Mr.”

Sweetgreen, Inc. completed a disposition involving Wonder Group, Inc. for $100.0 million in cash and issued to the Company shares of Series C Preferred Stock of Wonder with an implied value of $86.4 million (closed 2025-12-29).

“Sub II continuing as a wholly-owned subsidiary of Wonder (collectively, the “Spyce Sale”). On the Closing Date, as consideration for the Spyce Sale, Wonder paid to the Company $100.0 million in cash and issued to the Company shares of Series C Preferred Stock of Wonder with an implied value of $86.4 million based on the price per share at which shares were issued by”

Moody National REIT II, Inc. completed a disposition involving Farmington Hotel Partners I, L.L.C. for $9,400,000 (closed 2025-12-30).

“On December 30, 2025, Moody National REIT II, Inc. (the “Company”) sold the hotel property located at 4143 Governors Road, Austin, Texas 78744 (the “Homewood Suites Austin”) to Farmington Hotel Partners I, L.L.C., a Texas limited liability company unaffiliated with the Company, for an aggregate sale price of $9,400,000.”

Business First Bancshares, Inc. completed an acquisition involving Progressive Bancorp, Inc. for approximately 3,197,185 shares of BFST common stock (closed 2026-01-01).

“stock underlying such Progressive restricted stock award, without interest. The total aggregate consideration delivered to holders of Progressive common stock was approximately 3,197,185 shares of BFST common stock. The issuance of shares of BFST common stock in connection with the Merger was registered under the Securities Act of 1933, as amended (the “Securities”

Ingevity Corp completed a disposition involving Mainstream Pine Products, LLC (closed 2026-01-01).

“On January 1, 2026, Ingevity Corporation, a Delaware corporation (“Ingevity”), completed the transaction (the “Transaction”) previously disclosed in its Current Report on Form 8-K filed by Ingevity with the Securities and Exchange Commission (“SEC”) on September 4, 2025 (the “Previous Form 8-K”).”

NOCERA, INC. completed an acquisition involving LONGWOOL for $400,000 (closed 2026-01-01).

“On January 1, 2026, the Company completed the closing of the transaction contemplated by the Stock Purchase Agreement. Upon closing, the Company paid the purchase price of $400,000 and acquired 35% of the outstanding equity of LONGWOOL.”

NOCERA, INC. completed a disposition involving Yinuo Investment Consulting Co., Limited for $420,000 (closed 2026-01-01).

“On January 1, 2026, the Company completed the closing of the transaction contemplated by the Equity Transfer Agreement. Upon closing, the Company received the full purchase price of $420,000 and transferred 80% of its variable interest entity equity interests in Meixin to the Buyer.”

Tectonic Financial, Inc. completed a disposition involving TA Continuing Shareholders for $35 million in cash proceeds (closed 2026-01-05).

“Texas limited liability company (“Spinco”), and certain equity owners (the “TA Continuing Shareholders”) of Cain Watters & Associates, LLC (“Cain Watters”), pursuant to which Spinco was separated from the Company and distributed”

Trio Petroleum Corp completed an acquisition involving Novacor Exploration Ltd. for CD$1 Million (US$730,300 based on the applicable exchange rate to U.S. Dollars) (closed 2025-12-30).

“being assumed (collectively, the “Liabilities” and such acquisition of the Assets and assumption of the Liabilities together, the “Transaction”) for a total purchase price of CD$1 Million (US$730,300 based on the applicable exchange rate to U.S. Dollars). The Company issued to Seller 912,875 restricted shares (the “Shares”) of common stock, par value US$0.0001 per”

Crane Co completed an acquisition involving Baker Hughes Holdings LLC and Bently Nevada, LLC for purchase price of $1,060 million (closed 2026-01-01).

“the “Sellers”). Pursuant to the Agreement, the Company acquired all of Seller’s interest in Panametrics, LLC, which constituted 100% of PSI, for a purchase price of $1,060 million after adjusting for expected tax benefits with a net present value of approximately $90 million, but before contractual adjustments for working capital, cash acquired, and”

Versant Media Group, Inc. underwent a change of control involving Comcast Corporation (closed 2026-01-02).

“On January 2, 2026 (the “Distribution Date”), after the close of trading on Nasdaq, the previously-announced separation (the “Separation”) of Versant Media Group, Inc. (“Versant”) from Comcast Corporation (“Comcast”) was completed.”

GATX CORP completed an acquisition involving Wells Fargo Bank, N.A. for approximately $4.2 billion (closed 2026-01-01).

“Partners L.P. and its institutional partners (collectively, “Brookfield”), approximately 101,000 railcars from Wells Fargo Bank, N.A. (“Wells Fargo”), for approximately $4.2 billion. The joint venture entity is GABX Leasing LLC (“GABX” or the “JV”), initially owned 30% by GATX and 70% by Brookfield. As further described below, the transactions contemplated”

SEKISUI HOUSE U.S., INC. completed an acquisition involving SH Residential Holdings, LLC (closed 2026-01-01).

“On January 1, 2026, Parent contributed (for no consideration) to the Company all of Parent's interests in its wholly owned subsidiaries Chesmar Homes, LLC ("Chesmar") and Holt Group Holdings, LLC ("Holt").”

PINNACLE FINANCIAL PARTNERS INC underwent a change of control involving Synovus Financial Corp. for 0.5237 shares of Newco Common Stock (closed 2026-01-01).

“prior to the Effective Time (other than certain shares held by Synovus or Pinnacle, in each case as specified in the Merger Agreement) was converted into the right to receive 0.5237 shares of Newco Common Stock. Each holder of Synovus Common Stock who otherwise would have been entitled to receive a fractional share of Newco Common Stock (after taking into”

QUINSTREET, INC completed an acquisition involving SIREN GROUP AG d/b/a HomeBuddy for $115.0 million in cash, subject to certain adjustments as provided in the Purchase Agreement (closed 2026-01-02).

“I thereto (each, a “Seller” and collectively, the “Sellers”) and Maxym Entin, solely in his capacity as the representative of the Shareholders. At closing, QuinStreet paid $115.0 million in cash, subject to certain adjustments as provided in the Purchase Agreement. Pursuant to the Purchase Agreement, QuinStreet is obligated to pay $75.0 million in additional”

BankFinancial CORP underwent a change of control involving First Financial Bancorp. for 0.480 of a share of common stock, no par value, of the Company (closed 2026-01-01).

“common stock, $0.01 par value per share (“ BankFinancial Common Stock ”), issued and outstanding immediately prior to the Effective Time, was converted into the right to receive 0.480 of a share of common stock, no par value, of the Company (the “ Company Common Stock ”, and the amount of Company Common Stock to be received, the “ Merger Consideration ”). The”

Allison Transmission Holdings Inc completed an acquisition involving Dana Incorporated for $2.732 billion (closed 2026-01-01).

“On January 1, 2026, the Company completed its acquisition (the “Acquisition”) of the off-highway business of Dana Incorporated (“Dana”) pursuant to the previously disclosed Stock Purchase Agreement, dated June 11, 2025 (the “Purchase Agreement”), between the Company and Dana, for a purchase price of $2.732 billion, subject to certain adjustments.”

Cactus, Inc. completed an acquisition involving Baker Hughes Holdings LLC for $344,500,000 (closed 2026-01-01).

“On January 1, 2026 (the “Closing Date”), Baker Hughes Holdings and certain of its affiliates sold 65% of the limited liability company membership interests in the Joint Venture (“Membership Interests”) to Cactus UK Holding Limited (the “Cactus Member”), a subsidiary of Cactus Companies, for a cash purchase price of $344,500,000 (on a debt-free, and, except as noted below, cash-free basis), subject to certain working capital, cash, debt, capital expenditure and other customary adjustments after the Closing Date (the “Purchase Price” and such transaction, the “Transaction”).”

Bank First Corp completed an acquisition involving Centre 1 Bancorp, Inc. for 0.9200 of a share of BFC’s common stock and cash in lieu of fractional shares (closed 2026-01-01).

“Pursuant to the Merger Agreement, former Centre shareholders are entitled to receive, for each share of Centre common stock that was outstanding immediately prior to the Merger, 0.9200 of a share of BFC’s common stock and cash in lieu of fractional shares. Each outstanding share of BFC common stock remained outstanding and was unaffected by the Mergers. As a”

Baldwin Insurance Group, Inc. completed an acquisition involving Cobbs Allen Capital Holdings, LLC for $438.0 million in cash and 23,200,000 shares of Class A common stock (closed 2026-01-01).

“CAC Group Life, LLC and (ii) 60.19% of the outstanding equity interests in CAC Holdings, LLC. At the Closing, the aggregate consideration paid by the Company consisted of (a) $438.0 million in cash (subject to customary purchase price adjustments) and (b) 23,200,000 shares of the Company’s Class A common stock (the “Equity Consideration”), issued only to the Seller”

PROG Holdings, Inc. completed an acquisition involving Purchasing Power Parent, LLC for approximately $420 million in cash (closed 2026-01-02).

“Current Report on Form 8-K is incorporated into this Item 2.01 by reference. The aggregate consideration paid by the Purchaser to the Seller at the closing was approximately $420 million in cash, subject to customary adjustments. In addition, the Acquired Entity has approximately $330 million of non-recourse funding debt under its securitization and warehouse”

SYNOVUS FINANCIAL CORP underwent a change of control involving Pinnacle Financial Partners, Inc. (closed 2026-01-01).

“Pursuant to the Merger Agreement, on the Closing Date, each of Synovus and Pinnacle merged with and into Newco simultaneously, with Newco as the surviving entity (such mergers, collectively, the “Merger”).”

Legence Corp. completed an acquisition involving NewCo (TBG 2026, LLC) for 2,551,672 shares of the Company’s Class A common stock and approximately $325 million in cash (closed 2026-01-02).

“by the Sellers, which joined as a party to the Purchase Agreement (the “Reorganization”), and (ii) the Purchaser purchased from NewCo all of the Bowers Interests in exchange for 2,551,672 shares (the “Stock Consideration”) of the Company’s Class A common stock, par value $0.01 per share (“Class A Common Stock”), and approximately $325 million in cash, subject to”

Pinnacle Financial Partners, Inc. underwent a change of control involving Synovus Financial Corp. and Legacy Pinnacle Financial Partners, Inc. (closed 2026-01-01).

“Effective January 1, 2026 (the “Closing Date”), Pinnacle Financial Partners, Inc. (formerly Steel Newco Inc.), a Georgia corporation (“New Pinnacle”), completed the previously announced transactions contemplated by the Agreement and Plan of Merger, dated July 24, 2025 (the “Merger Agreement”), by and among Synovus Financial Corp., a Georgia corporation (“Synovus”), Pinnacle Financial Partners, Inc., a Tennessee corporation (“Legacy Pinnacle”), and New Pinnacle.”

COMMERCE BANCSHARES INC /MO/ completed an acquisition involving FineMark Holdings, Inc. for All-stock acquisition; each share of FineMark common stock converted into 0.7245 shares of Commerce common stock (adjusted for stock dividend), with cash in lie (closed 2026-01-01).

“the Certificate of Designation of the FineMark Preferred Stock) (other than certain excluded shares as described in the Merger Agreement) was converted into the right to receive 0.7245 of a share (as adjusted in accordance with the Merger Agreement for a stock dividend paid by Commerce to Commerce shareholders of record as of December 2, 2025, as previously”

FIRST FINANCIAL BANCORP /OH/ completed an acquisition involving BankFinancial Corporation (closed 2026-01-01).

“On January 1, 2026, the Company completed its previously announced Merger with BankFinancial pursuant to the Merger Agreement.”

OCCIDENTAL PETROLEUM CORP /DE/ completed a disposition involving Berkshire Hathaway Inc. for $9.7 billion in cash (closed 2026-01-02).

“On January 2, 2026, and pursuant to the Purchase Agreement, Occidental completed the Divestiture for $9.7 billion in cash, subject to customary purchase price adjustments as set forth in the Purchase Agreement.”

Hall of Fame Resort & Entertainment Co underwent a change of control involving HOFV Holdings, LLC (Parent) and Omaha Merger Sub, Inc. (Merger Sub) (closed 2025-12-31).

“completed the transactions contemplated by the previously announced Agreement and Plan of Merger”

MATTHEWS INTERNATIONAL CORP completed a disposition involving Duravant LLC for approximately $232 million (closed 2025-12-31).

“On December 31, 2025 (the “Closing Date”), Matthews International Corporation, a Pennsylvania corporation (“Matthews” or the “Company”), completed the sale of its interests in Matthews Automation Solutions, LLC, a Delaware limited liability company and wholly-owned subsidiary of Matthews (the “Transferred Entity”), and certain related assets to Duravant LLC (the “Buyer”) pursuant to the terms of an Equity Purchase Agreement dated as of November 12, 2025 by and among Matthews and the Buyer, which was filed as Exhibit 2.1 to that Current Report on Form 8-K with the SEC on November 13, 2025 . On the Closing Date, consideration of approximately $232 million was transferred to Matthews, representing cash consideration of $225.4 million plus the assumption of certain liabilities related to the business of the Transferred Entity.”

ACCENDRA HEALTH INC/VA/ completed a disposition involving Dominion Healthcare Acquisition Corporation and Dominion Healthcare Holdings, L.P. for $375 million in cash (closed 2025-12-31).

“effect to the completion of certain reorganization transactions, comprises the “ Products & Healthcare Services ” or “ P&HS ” business of the Company), for an aggregate of $375 million in cash, subject to certain adjustments for cash, indebtedness, net working capital and transaction expenses (the “ Sale ”) and (ii) contributed, assigned, transferred and”

Riley Exploration Permian, Inc. completed a disposition involving Targa Northern Delaware LLC for aggregate cash purchase price of approximately $111 million for the membership interests and approximately $10 million plus reimbursement of $1.4 million for co (closed 2025-12-24).

“pursuant to which the Company sold to Buyer all of the membership interests in Dovetail Midstream, LLC, a wholly owned subsidiary of the Company that holds certain midstream infrastructure projects in Eddy County, New Mexico, for an aggregate cash purchase price of approximately $111 million, subject to customary purchase price adjustments (the “Midstream Sale”). The Midstream Sale also provided for the sale by the Company to Buyer of certain compressor station assets for an aggregate cash purchase price of approximately $10 million plus reimbursement of $1.4 million of capital improvements at a subsequent closing date (the “Second Closing”), subject to the satisfaction of certain closing conditions. The initial closing of the Midstream Sale took place on December 3, 2025, and the Second Closing occurred on December 24, 2025.”

Hyatt Hotels Corp completed a disposition involving TRQ TORTUGA B.V. for all-cash purchase price of $1,977.5 billion, with a $200 million preferred equity investment provided by Hyatt and up to an additional $143 million earnout (closed 2025-12-30).

“Original Buyer subsequently assigned the Share Purchase Agreement and its rights thereunder to TRQ TORTUGA B.V., a Dutch private limited liability company (“ Buyer ”). On December 30, 2025, the Asset Sale Transaction closed for an all-cash purchase price of $1,977.5 billion. Buyer financed the acquisition with equity financing from an affiliate of KSL Capital Partners, LLC and Rodina, committed debt financing from third party sources, and a $200 million preferred equity investment provided by Hyatt. In addition, Hyatt can achieve up to an additional $143 million earnout if certain operating thresholds are achieved.”

Merus N.V. underwent a change of control involving Genmab A/S for $97.00 per Common Share in cash (closed 2025-12-29).

“of Parent (“Purchaser”), to purchase all of the issued and outstanding common shares, nominal value €0.09 per share, of the Company (the “Common Shares”), in exchange for $97.00 per Common Share in cash (the “Offer Consideration”), without interest and subject to any applicable tax withholding, upon the terms and subject to the conditions set forth in the”

T3 Defense Inc. completed an acquisition involving Arie Shafir for NIS 47,600,000 (approximately $14,000,000) (closed 2025-12-30).

“On December 30, 2025, the Company and Nukk Picolo consummated the acquisition of all the issued and outstanding stock of Tiltan in consideration of NIS 47,600,000 (approximately $14,000,000).”

Reliance Global Group, Inc. completed a disposition involving Employee Benefit Solutions Inc for $1,050,000 in cash (closed 2025-12-24).

“Time) on November 30, 2025 (the “Effective Date”). Pursuant to the Purchase Agreement, the Purchaser agreed to pay the Seller (or the Company, as directed by the Company) $1,050,000 in cash (the “Purchase Price”), payable at closing by wire transfer of immediately available funds. The Purchase Agreement provides that, following the closing and until no”

Advanced Biomed Inc. completed a disposition involving Wei Ha Hui for US$23,000 (closed 2025-12-23).

“ntered into an agreement (the “ Agreement ”) with an unrelated third party, Wei Ha Hui (the “ Buyer ”), pursuant to which the Company agreed to sell 100% of the issued and outstanding shares of Advanced Biomed (HK) Limited, a Hong Kong company”