Mergers, acquisitions, and dispositions disclosed under 8-K Items 2.01/5.01.
WHITE FOX VENTURES, INC. underwent a change of control involving Mark Jones (closed 2025-09-03).
“On September 3, 2025, pursuant to a Stock Purchase Agreement dated as of September 3, 2025 (the “SPA”), Opportunity Zones Capital, LLC, a California limited liability company (the “Seller”), sold to Mark Jones (the “Purchaser”) all fifty (50) issued and outstanding shares of the Special 2022 Series A Preferred Stock of White Fox Ventures, Inc., a Nevada corporation (the “Company”).”
Guild Holdings Co underwent a change of control involving Gulf MSR HoldCo, LLC for $20.00 in cash (closed 2025-11-28).
“Company Common Stock ” and each share of Company Common Stock, a “ Share ”), other than Shares held by the Company or the Parent Parties, was converted into the right to receive $20.00 in cash, without interest (the “ Per Share Consideration ”). Pursuant to the terms and conditions of the Merger Agreement, at the Effective Time, (i) each outstanding restricted”
Damon Inc. completed a disposition involving Grafiti LLC for $117,931.03 (closed 2025-11-28).
“outstanding shares (the “Shares”) of Grafiti Limited, a private company limited by shares incorporated in England and Wales (“Grafiti UK”). The purchase price for the Shares was $117,931.03, which was satisfied in full through the set-off of amounts owed by Grafiti UK to the Buyer under that certain Distribution Agreement, effective January 1, 2024, between the”
Blue Water Acquisition Corp. III underwent a change of control involving Yorkville BW Acquisition Sponsor, LLC for aggregate purchase price of $7,200,000 (closed 2025-11-25).
“warrant entitling the holder to purchase one Class A Ordinary Share, at an exercise price of $11.50 per share (each, a “Private Warrant”), for an aggregate purchase price of $7,200,000 and (ii) upon closing, became the sponsor of the Company (together, the “Purchase”). As a condition to consummation of the Purchase, all of the then-existing members of the Board”
VERINT SYSTEMS INC underwent a change of control involving Calabrio, Inc. for $20.50 in cash per share of common stock, plus redemption of preferred shares at $1,000 plus accrued dividends (closed 2025-11-26).
“(the “ Convertible Notes ”). The First Supplemental Indenture provides that, from and after the effective time of the Merger (the “ Effective Time ”), the right to convert each $1,000 principal amount of the Convertible Notes based on a number of shares of common stock, par value $0.001 per share, of Verint (“ Common Stock ”) equal to the Conversion Rate (as”
Shuttle Pharmaceuticals Holdings, Inc. completed an acquisition involving 1542770 BC Ltd. for aggregate consideration payable ... consists of: (a) a one-time cash contribution of $3,000,000, paid on the Closing Date; (ii) a first installment contribution (closed 2025-11-20).
“by or on behalf of the Purchaser for the sale, transfer, and delivery of the Transferred Assets and Transferred Liabilities consists of: (a) a one-time cash contribution of $3,000,000, paid on the Closing Date; (ii) a first installment contribution equal to $3,000,000, payable on the 6 month anniversary of the Closing Date; and (iii) a second installment”
Diversified Energy Co completed an acquisition involving Canvas Energy Inc. for approximately $495,000,000 and 3,720,125 shares of the Company’s common stock (closed 2025-11-24).
“acquired all of the issued and outstanding common stock of Canvas from the former owners of Canvas in exchange for, in the aggregate, (i) cash consideration of approximately $495,000,000 and (ii) 3,720,125 shares of the Company’s common stock (the “Consideration Shares”).”
OMNICOM GROUP INC. underwent a change of control involving The Interpublic Group of Companies, Inc. for 0.344 shares of Omnicom common stock per share of IPG common stock, with cash in lieu of fractional shares (closed 2025-11-26).
“On November 26, 2025 (the “Closing Date”), Omnicom Group Inc., a New York corporation (the “Company” or “Omnicom”), completed its Merger (as defined below) with The Interpublic Group of Companies, Inc., a Delaware corporation (“IPG”). As previously reported, on December 8, 2024, Omnicom entered into an Agreement and Plan of Merger (the “Merger Agreement”) with IPG and EXT Subsidiary Inc., a Delaware corporation and a direct wholly owned subsidiary of Omnicom (“Merger Sub”).”
INTERPUBLIC GROUP OF COMPANIES, INC. underwent a change of control involving Omnicom Group Inc. for 0.344 shares of Omnicom common stock per share of Company common stock (closed 2025-11-26).
“Company (the “Company common stock”) issued and outstanding immediately prior to the Effective Time (other than certain excluded shares) was converted into the right to receive 0.344 shares of common stock (the “Exchange Ratio”), par value $0.15 per share, of Omnicom (“Omnicom common stock”) and, if applicable, cash in lieu of fractional shares (the “Merger”
LIXTE BIOTECHNOLOGY HOLDINGS, INC. completed an acquisition involving Orbit Capital Inc. for 2,700 shares of the Company's Series C Preferred Stock, $1,000 stated value per share; 10.56 Bitcoin and 300 Ethereum; $440,000 in cash; and a royalty agreement (closed 2025-11-24).
“pursuant to a lease agreement. At the closing, the Company agreed to pay the following consideration (the “ Consideration ”) in exchange for the Shares: (i) issue to Seller 2,700 shares of the Company’s Series C Preferred Stock, $1,000 stated value per share (the “ Series C Preferred Stock ”) having such rights and preferences as set forth in the”
Premier, Inc. underwent a change of control involving Patient Square Capital for $2.6 billion (closed 2025-11-25).
“Patient Square Capital (“Patient Square”), a dedicated health care investment firm, has completed its previously announced acquisition of Premier, valued at $2.6 billion.”
Talen Energy Corp completed an acquisition involving affiliates of Caithness Energy, L.L.C. for $2.33 billion in cash (closed 2025-11-25).
“Guernsey Power Station, a 1,836 MW (summer rating) natural gas fired combined cycle generation plant located in Guernsey County, Ohio, for $2.33 billion in cash (the "Guernsey Acquisition"”
Talen Energy Corp completed an acquisition involving affiliates of Caithness Energy, L.L.C. for $1.46 billion in cash (closed 2025-11-25).
“Talen Generation agreed to purchase the (i) Freedom Generating Station, a 1,045 MW (summer rating) natural gas fired combined cycle generation plant located in Luzerne County, Pennsylvania, for $1.46 billion in cash (the "Freedom Acquisition")”
Seritage Growth Properties completed a disposition involving Boulevard Step Ventures LLC for $131.0 million less a credit for unpaid leasing costs as of the closing date for existing leases (closed 2025-11-25).
“As previously reported by Seritage Growth Properties (the "Company") in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on September 8, 2025, a subsidiary of the Company entered into a purchase and sale agreement (the "PSA") as of September 2, 2025 (the "effective date") with Boulevard Step Ventures LLC (the "Buyer") for the sale of the Company’s property located in Aventura, Florida (the "Aventura Property"). The purchase price for the sale of the Aventura Property was $131.0 million less a credit for unpaid leasing costs as of the closing date for existing leases. The transaction closed on November 25, 2025, in accordance with the terms of the PSA.”
Lazydays Holdings, Inc. completed a disposition involving CIRV Group, LLC and CIRV Group Real Estate Holdings, LLC (closed 2025-11-25).
“On November 25, 2025, the Sellers closed the Asset Sales with respect to the owned real property related to one of the Company’s Sites in Knoxville, Tennessee.”
Vimeo, Inc. underwent a change of control involving Bending Spoons US Inc. for $1.38 billion in cash (closed 2025-11-24).
“and Exchange Commission (the “SEC”) on October 22, 2025, which is incorporated herein by reference. The aggregate consideration for the acquisition of Vimeo was approximately $1.38 billion in cash. s and Exchange Commission (the “SEC”) on October 22, 2025, which is incorporated herein by reference. The aggregate consideration for the acquisition of Vimeo was”
SunPower Inc. completed an acquisition involving Ambia Energy, LLC, Ambia Holdings, Inc. for 10,243,924 shares of common stock at closing and up to $18.75 million of additional shares of common stock issuable on the six-month and 12-month anniversaries (closed 2025-11-21).
“On November 21, 2025, SunPower Inc., a Delaware corporation (the " Company "), entered into a Membership Interest Purchase Agreement (the " Membership Interest Purchase Agreement ") with Ambia Energy, LLC, a Utah limited liability company (" Ambia "), and Ambia Holdings, Inc., a Delaware corporation and the sole member of Ambia (the " Member "). The Company, Ambia and the Member completed the closing under the Membership Interest Purchase Agreement (the " Closing ") on November 21, 2025. At the Closing, the Company acquired all of the outstanding membership interests of Ambia from the Member for: (a) 10,243,924 shares (the " Closing Consideration Shares ") of common stock of the Company, $0.0001 par value per share (the " Common Stock "), issued at the Closing to the Member; and (b) the agreement to issue an additional $9.375 million of shares of Common Stock on the six-month anniversary of the Closing and an additional $9.375 million of shares of Common Stock on the 12-month anniversa”
Zeta Global Holdings Corp. completed an acquisition involving Marigold Group, Inc., Campaign Monitor Europe UK Ltd., and Selligent Holdings Limited for aggregate consideration of up to $325 million (closed 2025-11-24).
“The transactions contemplated by the Purchase Agreement were completed on November 24, 2025 (the “Closing”), at which time Zeta acquired the Sellers’ enterprise business (the “Marigold Enterprise Business”), including all of the equity interests of certain subsidiaries of the Sellers engaged in the enterprise business, in exchange for aggregate consideration of up to $325 million, subject to customary adjustments.”
NPK International Inc. completed an acquisition involving shareholders of Grassform for £35.2 ($46.4) million satisfied in cash at closing (closed 2025-11-24).
“of Grassform (the “Sellers”). Under the terms of the Share Purchase Agreement, the total consideration payable by NPK Holdings to the Sellers consisted of a payment of £35.2 ($46.4) million satisfied in cash at closing, subject to customary post-closing adjustments pursuant to completion accounts and certain other adjustment mechanisms. Additional”
SITE Centers Corp. completed a disposition involving B33 Nassau Park Pavilion III LLC for approximately $137.6 million in cash, subject to adjustment for certain closing pro-rations, allocations and credits (closed 2025-11-21).
“Also on November 21, 2025, a subsidiary of the Company completed the previously announced sale of its interests in Nassau Park Pavilion (Princeton, New Jersey) to B33 Nassau Park Pavilion III LLC for an aggregate price of approximately $137.6 million in cash, subject to adjustment for certain closing pro-rations, allocations and credits.”
SITE Centers Corp. completed a disposition involving affiliates of Haverford Retail Partners for $126.0 million in cash, subject to adjustment for certain closing pro-rations, allocations and credits (closed 2025-11-21).
“On November 21, 2025, subsidiaries of SITE Centers Corp. (the “Company”) completed the previously announced sale of their interests in East Hanover Plaza (East Hanover, NJ), Southmont Plaza (Easton, PA) and Stow Community Center (Stow, OH) to affiliates of Haverford Retail Partners for an aggregate price of $126.0 million in cash, subject to adjustment for certain closing pro-rations, allocations and credits.”
XOMA Royalty Corp completed an acquisition involving LAVA Therapeutics N.V. (closed 2025-11-20).
“XOMA and LAVA effectuated the Post-Offer Reorganization, which became effective on November 20, 2025.”
ClearPoint Neuro, Inc. completed an acquisition involving IRRAS Holdings, Inc. for $5,000,000 in cash and 1,325,000 shares of Company common stock (closed 2025-11-20).
“the “Merger”), with the Second Merger Sub surviving the Second Merger. Merger Consideration Pursuant to the Merger Agreement, the Company delivered closing consideration of $5,000,000 in cash and 1,325,000 shares of Company common stock to IRRAS shareholders (the “Closing Shares”). Earnout Consideration As additional consideration for IRRAS’ stockholders, the”
CKX LANDS, INC. completed a disposition involving Southern Pine Plantations of Georgia, Inc. for $8,618,021.70 (closed 2025-11-18).
“Davis, Natchitoches, Rapides and Sabine Parishes of the State of Louisiana (the “ Transaction ”). The purchase price, as adjusted pursuant to the terms of the Agreement, was $8,618,021.70, and was paid in cash. Pursuant to the terms of the Agreement, the parties excluded from the Transaction certain portions of the Property (as defined in the Agreement) and the”
STRATUS PROPERTIES INC completed a disposition involving Scripps CMH LLC, a Delaware limited liability company, as to an undivided 70.538% interest, and Lantana SRB LLC, a Wyoming limited liability company, as to an undivided 29.462% interest, as tenants-in-common (collectively, Purchaser) for $57.5 million in cash (closed 2025-11-14).
“On November 14, 2025, Lantana Place, L.L.C. (Seller), a Texas limited liability company and a wholly-owned subsidiary of Stratus Properties Inc. (Stratus), completed the previously disclosed disposition of the real and personal property associated with the retail component of Lantana Place (Lantana Place – Retail), for $57.5 million in cash to Scripps CMH LLC, a Delaware limited liability company, as to an undivided 70.538% interest, and Lantana SRB LLC, a Wyoming limited liability company, as to an undivided 29.462% interest, as tenants-in-common (collectively, Purchaser).”
Go Go Buyers, Inc. underwent a change of control involving Qiubing Xu (closed 2025-09-25).
“On August 20, 2025, Arturas Saladzius, the previous majority shareholder of the Company, entered into a stock purchase agreement (the “Agreement”) for the sale of 3,000,000 shares of Common Stock of the Company, to Qiubing Xu. The Agreement closed on September 25, 2025.”
HARROW, INC. completed an acquisition involving Melt Pharmaceuticals, Inc. for approximately $4.3 million in cash (closed 2025-11-17).
“in the Company’s Current Report on Form 8-K filed on September 26, 2025, which description is incorporated herein by reference. At closing, the Company paid approximately $4.3 million in cash as initial consideration for the remaining equity interests of Melt. The contingent regulatory and commercial milestone payments described in the Company’s September 26,”
Eton Pharmaceuticals, Inc. completed an acquisition involving Ipsen S.A. (closed 2024-12-19).
“on December 1 9, 2024, the Company completed its purchase (the “Acquisition”) of Increlex® (“Increlex”) from Ipsen S.A. (“Ipsen”).”
Informatica Inc. underwent a change of control involving Salesforce, Inc. for $25.00 per share in cash (closed 2025-11-18).
“f Merger (the “ Merger Agreement ”) with Salesforce, Inc., a Delaware corporation (“ Salesforce ”), and Phoenix I Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Salesforce (“ Merger Sub ”).”
USA Rare Earth, Inc. completed an acquisition involving Indian Ocean Rare Metals Pte Ltd for $100,000,000 in cash and 6.54 million shares of the Company’s common stock (closed 2025-11-18).
“and heavy rare earth permanent magnet metals and alloys at scale in its facility in Cheshire, U.K. Pursuant to the Acquisition Agreement, the purchase price paid by Buyer was $100,000,000 in cash and 6.54 million shares of the Company’s common stock (the “Acquisition Shares”), subject to the deposit of 1,010,782 shares of the Company’s common stock into escrow and”
Service Properties Trust completed a disposition for $23.5 million (closed 2025-11-13).
“On November 13, 2025, Service Properties Trust, or SVC, sold four hotels with a total of 459 keys located in three states for a combined sales price of $23.5 million, excluding closing costs, or the Last Closing”
Ondas Inc. completed an acquisition involving Sentry CS Ltd for $225,000,000 (closed 2025-11-17).
““Sellers”). In accordance with the terms of the Agreement, the Company acquired 100% of the issued and outstanding share capital of Sentry, for an aggregate purchase price of $225,000,000, including (i) $125,000,000 in cash, of which $117,500,000 was paid at closing and the remaining $7,500,000, shall be paid so that an amount of $2,500,000 shall be paid on each of”
Provident Bancorp, Inc. /MD/ underwent a change of control involving NB Bancorp, Inc. for either (i) 0.691 shares of NB Bancorp common stock or (ii) $13.00 in cash (closed 2025-11-17).
“greement”), dated as of June 5, 2025, by and among NB Bancorp, Inc. (“NB Bancorp”), Needham Bank, 1828 MS, Inc., Provident Bancorp, Inc.”
SOUNDHOUND AI, INC. completed an acquisition involving Interactions Corporation (closed 2025-09-09).
“On September 9, 2025, SoundHound AI, Inc. (the “Company”) filed a Current Report on Form 8-K (the “Original Form 8-K”) to report on the completion of the acquisition of all of the issued and outstanding shares of the capital stock of Interactions Corporation (“Interactions”), a Delaware corporation, pursuant to the certain Agreement and Plan of Merger (the “Merger Agreement”) dated as of September 3, 2025.”
Exousia Bio, Inc. completed an acquisition involving Exousia Ai, Inc. for 62,223,000 shares of Company common stock (closed 2025-11-17).
“of the issued and outstanding capital stock of Exousia Ai, with Exousia Ai becoming the Company’s wholly-owned subsidiary, in consideration of the Company’s issuing a total of 62,223,000 shares of Company common stock (the “Acquisition Shares” ) to the shareholders of Exousia Ai. On November 17, 2025, the parties closed the Reorganization Agreement, such that”
NB Bancorp, Inc. completed an acquisition involving Provident Bancorp, Inc. for 0.691 shares of Needham common stock per share or $13.00 per share in cash (closed 2025-11-15).
“f Provident Bancorp, Inc. (“Provident”) and BankProv, a wholly owned subsidiary of Provident.”
ONTO INNOVATION INC. completed an acquisition involving Semilab International Zrt. for $432,310,000 in cash and 641,771 shares of common stock (closed 2025-11-17).
“On November 17, 2025, Onto Innovation Inc. (the “Company”) completed the previously announced acquisition of Semilab USA LLC (“Semilab USA”), pursuant to the Equity Purchase Agreement (the “Purchase Agreement”), dated as of June 27, 2025, by and among the Company, Semilab International Zrt. (the “Seller”), Semilab Zrt. and Semilab USA, as amended by the Amendment to Equity Purchase Agreement, dated October 9, 2025. As previously disclosed, pursuant the Purchase Agreement, the Company acquired all of the outstanding membership interests of Semilab USA from the Seller for $432,310,000 in cash (subject to certain customary purchase price adjustments) and 641,771 shares of the Company’s common stock, par value $0.001 per share (the foregoing transactions, the “Semilab USA Acquisition”).”
IGC Pharma, Inc. completed a disposition involving Wellness Essentials Northwest LLC for fair value of approximately $2.7 million (closed 2025-11-13).
“On November 13, 2025, the closing conditions were satisfied and the transactions under the Sale Agreement were consummated for a fair value of approximately $2.7 million.”
Epsilon Energy Ltd. completed an acquisition involving Yorktown Energy Partners XI, L.P. for issuance of 90,117 Common Shares (closed 2025-11-14).
“closing was the issuance of 5,591,372 of the Company’s common shares (the “ Common Shares ”). The purchase price for the Peak BLM interests paid at closing was the issuance of 90,117 Common Shares. Following the Closing Date, up to 2,500,000 additional Common Shares or $6,500,000 in cash, is required to be issued or paid based on the timing of certain”
Epsilon Energy Ltd. completed an acquisition involving Peak Exploration & Production, LLC for issuance of 5,591,372 of the Company’s common shares (closed 2025-11-14).
“Closing Date, the Company consummated the transactions contemplated by the Purchase Agreements. The purchase price for the Peak E&P Interests paid at closing was the issuance of 5,591,372 of the Company’s common shares (the “ Common Shares ”). The purchase price for the Peak BLM interests paid at closing was the issuance of 90,117 Common Shares. Following the”
Elme Communities completed a disposition involving CEVF VI Capitol Holdings, LLC and CEVF VI Co-Invest I Venture, LLC for $1.606 billion in cash (closed 2025-11-12).
“Parties are affiliates of Cortland Partners, LLC. Pursuant to the Purchase Agreement, Buyer acquired all of the equity interests of Echo Sub, for an aggregate purchase price of $1.606 billion in cash, subject to customary adjustments (the “Portfolio Sale Transaction”). hase Agreement, Buyer acquired all of the equity interests of Echo Sub, for an aggregate purchase”
Decoy Therapeutics Inc. completed an acquisition involving Decoy Therapeutics for 877.709 shares of Series A Non-Voting Convertible Preferred Stock and 796.306 shares of Series B Non-Voting Convertible Preferred Stock (closed 2025-11-12).
“with and into Merger Sub I (the “Merger”), resulting in the Decoy business becoming a wholly owned subsidiary of the Company. In connection with the Merger, the Company issued 877.709 shares of Series A Non-Voting Convertible Preferred Stock (the "Series A Stock") and 796.306 shares of Series B Non-Voting Convertible Preferred Stock (the "Series B Stock") to”
CIM Opportunity Zone Fund, L.P. completed a disposition involving WEPCO Holdings for $1.3 billion.
“The total aggregate value of the equity interests contributed by the Fund to WEPCO (whether directly or through COZ) as a part of the Phase 1 Contribution Transactions was $1.3 billion, based on net asset values as of March 31, 2025. Following the Phase 1 Contribution Transactions, COZ was a wholly-owned subsidiary of the Fund, and the Fund and COZ were the”
Metsera, Inc. underwent a change of control involving Pfizer Inc. for $65.60 in cash, without interest, plus one contractual contingent value right (CVR) per share (closed 2025-11-13).
“who have validly exercised their statutory rights of appraisal under the Delaware General Corporation Law, as amended (the “DGCL”), was converted into the right to receive (A) $65.60 (the “Closing Amount”) in cash, without interest and subject to any required withholding of taxes, plus (B) one contractual contingent value right (a “CVR”) per share of Company”
Sentinel Holdings Ltd. completed an acquisition involving Opsec Specialized Protections, Inc. for $650,000 cash plus potential performance bonus of $150,000 and consulting agreement (closed 2025-10-16).
“the same level of income per month or more than they provided at closing, the Company will pay the Seller an additional Performance Bonus of One Hundred Fifty Thousand Dollars ($150,000.00). Total revenues for the month of September, 2025, from service contracts, the month proceeding the closing, totaled approximately $799,000, and cash expenses for the month”
CREATIVE REALITIES, INC. completed an acquisition involving Cineplex Entertainment Limited Partnership for approximately CAD$70,000,000 (closed 2025-11-07).
“Company (indirectly through 1001372953 Ontario Inc.) acquired ownership of all of the issued and outstanding capital shares of DDC for a total purchase price of approximately CAD$70,000,000, subject to customary purchase price adjustments (the “Purchase Price”). The Company used proceeds of the Offering, the Term Loan, the Revolver to pay the Purchase Price, repay all”
Phreesia, Inc. completed an acquisition involving AccessOne Parent Holdings, Inc. for approximately $163 million in cash (closed 2025-11-12).
“above is incorporated by reference into this Item 2.01. In accordance with the Merger Agreement, AccessOne's equityholders received consideration transferred of approximately $163 million in cash, subject to certain customary purchase price adjustments set forth in the Merger Agreement. The purchase price was funded by approximately (i) $107 million of net”
XTI Aerospace, Inc. completed an acquisition involving Drone Nerds, LLC and Anzu Robotics, LLC for $16,727,356.00 in cash, a promissory note in the original principal amount of $10,976,284.58, and 6,002,610 Class B Units with a fair market value of $8,955,894 (closed 2025-11-10).
“company as part of a reorganization for tax purposes. Pursuant to the DN Purchase Agreement, in exchange for the Drone Nerds Interests, XTI Drones Holdings (i) paid DN Seller $16,727,356.00 in cash in exchange for 46% of the Drone Nerds Interests, (ii) issued DN Seller a promissory note in the original principal amount of $10,976,284.58 (the “DN Note”) in exchange”
Medalist Diversified, Inc. completed a disposition involving MDRR XXV DST 1 for $14,554,504 (closed 2025-11-07).
“foot, single story building on 3.498 acres of land located at 312 E. 9 Mile Road, Pensacola, Florida (the “Tesla Property”) to the DST in exchange for total consideration of $14,554,504, as described in more detail below, which was based on the price paid by the Company to acquire the Property on July 18, 2025. The Contribution Agreement contains representations,”
Ranger Energy Services, Inc. completed an acquisition involving American Well Holdings, LLC for approximately $90.5 million (closed 2025-11-07).
“supporting equipment primarily within the Permian Basin. Also on November 7, 2025, the Company completed the AWS Acquisition. The estimated purchase price was approximately $90.5 million, subject to certain adjustments set forth in the Purchase Agreement, and includes $60.5 million in cash and 1,998,401 shares of Class A Common Stock. Pursuant to the Purchase”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.