secwatch / observer

M&A Transactions

Mergers, acquisitions, and dispositions disclosed under 8-K Items 2.01/5.01.

8-K items 2.01, 5.01 JSON
PNTG Pennant Group, Inc.

Pennant Group, Inc. completed an acquisition involving UnitedHealth Group Incorporated, Amedisys, Inc. and certain other sellers for $146,531,160 in cash (closed 2025-10-01).

“to the business of providing home health, hospice, or palliative care services through certain providers (the “Transaction”). The total consideration for the Transaction was $146,531,160 in cash, which is subject to certain post-closing adjustments pursuant to the Purchase Agreement, as amended by the Amendment. Except for the Transaction, there are no material”
STRG STARGUIDE GROUP, INC.

STARGUIDE GROUP, INC. completed an acquisition involving Mr Hoang Lo for sixteen thousand dollars ($16,000) (closed 2022-12-08).

“The Company acquired the 80% share in Live Investments Holdings in exchange for sixteen thousand dollars ($16,000) on closing.”
WT WisdomTree, Inc.

WisdomTree, Inc. completed an acquisition involving Ceres Partners, LLC for $275.0 million in cash (closed 2025-10-01).

“On October 1, 2025, the Purchaser completed the Acquisition for aggregate consideration consisting of (i) $275.0 million in cash”
GUARANTY BANCSHARES INC /TX/

GUARANTY BANCSHARES INC /TX/ underwent a change of control involving Glacier Bancorp, Inc. for 1.0000 share of GBCI common stock (closed 2025-10-01).

“On October 1, 2025, pursuant to the terms of the Merger Agreement, GNTY merged with and into GBCI, with GBCI surviving the Merger.”
GPRE Green Plains Inc.

Green Plains Inc. completed a disposition involving POET Biorefining - Obion, LLC for $170 million plus related working capital (closed 2025-09-25).

“On September 25, 2025, the Company closed on the sale and received proceeds of $170 million plus related working capital (the “POET Transaction”).”
XWIN XMax Inc.

XMax Inc. completed an acquisition for $5,664,500.05 (closed 2025-09-25).

“On September 25, 2025, Nova Furniture Limited, a company incorporated in the British Virgin Islands and a wholly owned subsidiary of Nova LifeStyle, Inc. (the “ Company ”) closed its subscription of 99.815% interest in Preamble Capital, A Series of CGF2021 LLC (the “ Preamble Capital ”), a Delaware Limited Liability Company for $5,664,500.05”
CIM Opportunity Zone Fund, L.P.

CIM Opportunity Zone Fund, L.P. completed a disposition involving Westlands Electric Power Company, LLC and Westlands Electric Power Company Holdings, LLC for $1.3 billion (closed 2025-09-29).

“The Phase 1 Contribution Transactions closed on September 29, 2025. The total aggregate value of the equity interests contributed by the Fund is $1.3 billion, based on net asset values as of March 31, 2025.”
RKT Rocket Companies, Inc.

Rocket Companies, Inc. completed an acquisition involving Mr. Cooper Group Inc. (closed 2025-10-01).

“On October 1, 2025, the Mergers became effective and the acquisition of Mr. Cooper was completed.”
BKKT Bakkt, Inc.

Bakkt, Inc. completed a disposition involving Project Labrador Holdco, LLC (closed 2025-10-01).

“On October 1, 2025, Opco completed the previously announced Transaction in accordance with the Purchase Agreement, as amended.”
BKV BKV Corp

BKV Corp completed an acquisition involving Bedrock Energy Partners, LLC (Seller) for $370 million (closed 2025-09-29).

“guarantors and collateral grantors under our existing reserve-based lending agreement. The aggregate unadjusted consideration to be paid to Seller in the Bedrock Acquisition is $370 million (the “Purchase Price”), subject to customary adjustments. Pursuant to the Purchase Agreement, at the closing of the Bedrock Acquisition, BKV paid a portion of the Purchase Price”
CZNC CITIZENS & NORTHERN CORP

CITIZENS & NORTHERN CORP completed an acquisition involving Susquehanna Community Financial, Inc. for approximately 2,273,000 shares of C&N Common Stock (closed 2025-10-01).

“par value $1.00 per share, of C&N (“C&N Common Stock” and such shares, the “Merger Consideration”). The total aggregate consideration payable in the Merger was approximately 2,273,000 shares of C&N Common Stock. The foregoing description of the Merger and the Merger Agreement does not purport to be complete and is qualified in its entirety by reference to the”
BP PRUDHOE BAY ROYALTY TRUST

BP PRUDHOE BAY ROYALTY TRUST completed a disposition involving GREP V Holdings, L.P. for $3,700,000 in cash (closed 2025-10-01).

“On September 30, 2025, BP Prudhoe Bay Royalty Trust (the “Trust”) and GREP V Holdings, L.P. (the “Purchaser”) entered into an Asset Purchase and Sale Agreement (the “Agreement”) for the purchase of the overriding royalty interest held by the Trust (the “Royalty Interest”) for a purchase price of $3,700,000 in cash (the “Purchase Price”). The sale closed on October 1, 2025, with an effective date of July 1, 2025.”
TITAN PHARMACEUTICALS INC

TITAN PHARMACEUTICALS INC underwent a change of control involving Black Titan Corporation (closed 2025-10-01).

“Upon the terms and subject to the conditions of the Merger Agreement, on October 1, 2025, at the effective time of the Merger (the “ Effective Time ”), Merger Sub merged with and into Parent (the “ Merger ”), with Parent continuing as the surviving corporation under the same name as a direct wholly owned subsidiary of Black Titan.”
Maverick Merger Sub 2, LLC

Maverick Merger Sub 2, LLC underwent a change of control involving Rocket Companies, Inc. for 11.00 shares of Rocket’s Class A common stock per share of Mr. Cooper common stock (closed 2025-10-01).

“common stock of Mr. Cooper, par value $0.01 per share (“Mr. Cooper common stock”) (except as otherwise specified in the Merger Agreement) was converted into the right to receive 11.00 shares (the “Exchange Ratio”) of Rocket’s Class A common stock, par value $0.00001 per share (“Rocket Stock”). No fractional shares of Rocket Stock were issued in the Maverick”
SVC Service Properties Trust

Service Properties Trust completed a disposition for $71.1 million (closed 2025-09-25).

“On September 25, 2025 , SVC sold ten hotels with a total of 1,525 keys located in six states for a combined sales price of $71.1 million, excluding closing costs”
MIRA MIRA PHARMACEUTICALS, INC.

MIRA PHARMACEUTICALS, INC. completed an acquisition involving SKNY Pharmaceuticals, Inc. for restricted shares of the Company’s common stock (closed 2025-09-29).

“On September 29, 2025, MIRA Pharmaceuticals, Inc. (the “Company”) completed its acquisition of SKNY Pharmaceuticals, Inc. (“SKNY”) pursuant to the previously announced merger agreement (the “Merger Agreement”).”
CVCO CAVCO INDUSTRIES, INC.

CAVCO INDUSTRIES, INC. completed an acquisition involving American Homestar Corporation for $20.62 per share in cash (closed 2025-09-29).

“held in treasury by American Homestar or owned by the Company, Merger Sub, or their respective subsidiaries), was automatically cancelled and converted into the right to receive $20.62 per share in cash; and (ii) each restricted share of Common Stock outstanding immediately prior to the Effective Time vested in full, all restrictions lapsed, and such shares were”
GAMG Global Asset Management Group, Inc.

Global Asset Management Group, Inc. completed an acquisition involving DC Rental Portfolio Corp. for 250,000,000 shares of its Common Stock (closed 2025-09-29).

“(“DC Rental”) pursuant to a Share Exchange Agreement dated February 6, 2025. The Company acquired 100% of the issued and outstanding capital stock of DC Rental in exchange for 250,000,000 shares of its Common Stock issued to the shareholders of DC Rental. The transaction was conducted as a private placement under Rule 4(a)(2) of the Securities Act of 1933 and”
WOLF WOLFSPEED, INC.

WOLFSPEED, INC. underwent a change of control (closed 2025-09-29).

“On the Plan Effective Date, all previously issued and outstanding equity interests in Wolfspeed were cancelled and extinguished.”
OSG OCTAVE SPECIALTY GROUP INC

OCTAVE SPECIALTY GROUP INC completed a disposition involving Acorn for $420,000,000 in cash (closed 2025-09-29).

“On September 29, 2025 , the Company completed its previously announced sale to Acorn of all of the issued and outstanding shares of common stock, par value $2.50 per share, of Ambac Assurance Corporation, a Wisconsin stock insurance company and wholly owned subsidiary of the Company (the “AAC Transaction”), for $420,000,000 in cash, subject to certain adjustments, pursuant to and upon the terms and subject to the conditions set forth in, the stock purchase agreement, dated as of June 3, 2024, as amended by the First Amendment, dated as of July 3, 2025 (together, the “AAC Sale Agreement”), by and between the Company and Acorn.”
SVC Service Properties Trust

Service Properties Trust completed a disposition involving unknown for $22.5 million (closed 2025-09-23).

“On September 23, 2025, SVC sold three hotels with a total of 399 keys located in three states for a combined sales price of $22.5 million, excluding closing costs, pursuant to one of the agreements that SVC previously entered into to sell 113 hotels with a total of 14,803 keys for a combined sales price of $913.3 million, excluding closing costs, or the Sale Hotels.”
U. S. Premium Beef, LLC

U. S. Premium Beef, LLC completed an acquisition involving National Beef Packing Company, LLC for $30.1 million (closed 2025-09-25).

“On September 25, 2025, the Company purchased 130.4415 units of membership interest in NBP (the “Purchased Units”) pursuant to the Offer for a purchase price of approximately $30.1 million.”
GPRE Green Plains Inc.

Green Plains Inc. completed a disposition involving POET Biorefining – Obion, LLC for $190 million in cash (closed 2025-09-25).

“On September 25, 2025, the Company completed the Transaction for $190 million in cash.”
HBUV Hubilu Venture Corp

Hubilu Venture Corp completed an acquisition involving Ignacio Morales and Maria E. Morales as Trustee(s) of The Morales Family Trust for $520,000 (closed 2025-09-24).

“The acquisition for $520,000 closed on September 24, 2025.”
SCLX Scilex Holding Co

Scilex Holding Co completed a disposition involving Biconomy PTE.LTD for $16.00 per share (closed 2025-09-25).

“Common Stock held by the Company and (ii) 11,945,151 shares of Semnur Common Stock held by Scilex, Inc. The Biconomy Resale SPA Shares are being sold for a purchase price of $16.00 per share (the “Purchase Price”), payable in Bitcoin blockchain (“Bitcoin”), with such amount of Bitcoin equal to the quotient of (A) Biconomy’s aggregate Purchase Price divided”
SPWR SunPower Inc.

SunPower Inc. completed an acquisition involving Chicken Parm Pizza LLC for $20,000,000 cash, $20,000,000 seller note, and 3,333,334 shares of common stock initially plus up to 6,666,666 additional shares subject to stockholder approval (closed 2025-09-24).

“On September 24, 2025, the Company, Buyer, Sunder and the Member completed the closing under the Membership Interest Purchase Agreement (the “ Closing ”). Upon the Closing, the Buyer acquired all of the equity interests of Sunder from the Member in consideration for: (i) $20,000,000 in cash paid at the Closing, subject to customary balance sheet and working capital adjustments (the “ Closing Cash Consideration ”); (ii) a promissory note issued at the Closing by the Company to the Member in the principal amount of $20,000,000 (the “ Seller Note ”); (iii) 3,333,334 shares of common stock of the Company, $0.0001 par value per share (the “ Common Stock ”), issued at the Closing by the Company to the Member (the “ Initial Consideration Shares ”); and (iv) subject to approval of such issuances by the Company’s stockholders following the Closing in accordance with the rules and regulations of the Nasdaq Stock Market (including Nasdaq Listing Rule 5635(a)), (x) an additional 3,333,333 shares o”
NN NEXTNAV INC.

NEXTNAV INC. completed an acquisition involving Telesaurus Holdings GB LLC and Skybridge Spectrum Foundation (closed 2025-09-19).

“the transaction contemplated by the Asset Purchase Agreement, dated March 7, 2024, among the Company, its wholly owned subsidiary, Progeny LMS, LLC ("Progeny"), Telesaurus Holdings GB LLC ("Telesaurus"), and Skybridge Spectrum Foundation ("Skybridge"), closed on September 19, 2025”
SMNR Semnur Pharmaceuticals, Inc.

Semnur Pharmaceuticals, Inc. completed an acquisition involving Legacy Semnur (Semnur Pharmaceuticals, Inc.) (closed 2025-09-22).

“On September 22, 2025 (the "Closing Date"), as contemplated by the Merger Agreement and described in the section of the Proxy Statement/Prospectus titled " Proposal 1—The Business Combination Proposal, " New Semnur consummated the merger transaction contemplated by the Merger Agreement (the "Closing"), whereby Merger Sub merged with and into Legacy Semnur, the separate corporate existence of Merger Sub ceased and Legacy Semnur became the surviving corporation and a wholly owned subsidiary of New Semnur (the "Merger" and, together with the Domestication, the "Business Combination").”
SMNR Semnur Pharmaceuticals, Inc.

Semnur Pharmaceuticals, Inc. underwent a change of control involving Legacy Semnur (Semnur Pharmaceuticals, Inc.) (closed 2025-09-22).

“On September 22, 2025 (the "Closing Date"), as contemplated by the Merger Agreement and described in the section of the Proxy Statement/Prospectus titled " Proposal 1—The Business Combination Proposal, " New Semnur consummated the merger transaction contemplated by the Merger Agreement (the "Closing"), whereby Merger Sub merged with and into Legacy Semnur, the separate corporate existence of Merger Sub ceased and Legacy Semnur became the surviving corporation and a wholly owned subsidiary of New Semnur (the "Merger" and, together with the Domestication, the "Business Combination").”
NN NEXTNAV INC.

NEXTNAV INC. completed an acquisition involving Telesaurus Holdings GB LLC and Skybridge Spectrum Foundation for aggregate purchase price of up to $50,000,000 (closed 2025-09-19).

“if granted, may reinstate additional M-LMS licenses previously owned by Skybridge and Telesaurus and terminated by the FCC in 2017, for an aggregate purchase price of up to $50,000,000, payable in cash and shares of common stock of the Company (together, the “Transaction”). A copy of the Agreement was filed as Exhibit 10.1 to the Company’s Quarterly Report on”
DallasNews Corp

DallasNews Corp underwent a change of control involving Hearst Media West, LLC for $16.50 per share (closed 2025-09-24).

“announced today that the Company’s pending merger with Hearst (the “Hearst Merger”) has now been completed and DallasNews shareholders will receive an all cash consideration of $16.50 per share of DallasNews common stock.  The Dallas Morning News and Medium Giant will now operate as part of Hearst, one of the nation’s leading information, services and media”
XIFR XPLR Infrastructure, LP

XPLR Infrastructure, LP completed a disposition involving APC Holdings II, L.P. and ACI Meade Member, LLC for $1.1 billion (closed 2025-09-22).

“On September 22, 2025, Meade Pipeline Investment, LLC, Redwood Midstream, LLC and River Road Interests LLC (the sellers), all indirect subsidiaries of XPLR Infrastructure, LP (XPLR), completed the sale of the sellers' interests in Meade Pipeline Co, LLC (Meade), which owned an investment in natural gas pipeline assets in Pennsylvania, and Redwood Meade Midstream MPC, LLC, which owned a 15% interest in Meade, to APC Holdings II, L.P. and ACI Meade Member, LLC, affiliates of funds managed or advised by Ares Management LLC or one of its affiliates under the previously disclosed purchase and sale agreement dated August 7, 2025. XPLR received total cash consideration of approximately $1.1 billion.”
Couchbase, Inc.

Couchbase, Inc. underwent a change of control involving Cascade Parent Inc. and Haveli Investments, L.P. for $24.50 in cash (closed 2025-09-24).

“immediately prior to the Effective Time (subject to certain exceptions specified in the Merger Agreement) was automatically canceled and converted into the right to receive $24.50 in cash, without interest (the “Per Share Price”), subject to applicable withholding taxes. Pursuant to the Merger Agreement, Couchbase’s equity awards that were outstanding”
TVA Texas Ventures Acquisition III Corp

Texas Ventures Acquisition III Corp underwent a change of control involving Yorkville Acquisition Sponsor II, LLC for $7,400,000 (closed 2025-09-18).

“entitling the holder to purchase one Class A ordinary share, par value US$0.0001 per share, of the Company (the “Class B Ordinary Shares”), for an aggregate purchase price of $7,400,000 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”
SVC Service Properties Trust

Service Properties Trust completed a disposition for aggregate sales price of $26.5 million, excluding closing costs, and $20.3 million, excluding closing costs (closed 2025-09-18).

“On September 18, 2025, SVC sold three hotels with a total of 413 keys located in three states for a combined sales price of $26.5 million, excluding closing costs, or the First Significant Disposition, pursuant to one of the agreements that SVC previously entered into to sell 113 hotels with a total of 14,803 keys for a combined sales price of $913.3 million, excluding closing costs, or the Sale Hotels.”
FTFT Future FinTech Group Inc.

Future FinTech Group Inc. underwent a change of control involving Wealth Index Capital Limited for $18,000,000 (closed 2025-09-16).

“above, on that date the Company issued 9,000,000 shares of its common stock to Wealth Index Capital Limited (“WICL”) at a purchase price of $2.00 per share, for an aggregate of $18,000,000, pursuant to the Equity SPA. The shares were acquired by WICL using its working capital. As a result of the issuance of shares, WICL owns approximately 48.107% of the Company’s”
INBK First Internet Bancorp

First Internet Bancorp completed a disposition involving entities affiliated with Blackstone Real Estate Debt Strategies for $836.9 million aggregate principal balance (closed 2025-09-18).

“the Bank completed the sale of $836.9 million aggregate principal balance of the Portfolio (the “Sale”) on September 18, 2025 for net proceeds, after transaction costs, of $794.2 million”
SpartanNash Co

SpartanNash Co underwent a change of control involving C&S Wholesale Grocers, LLC (closed 2025-09-22).

“On September 22, 2025, pursuant to the Merger Agreement, Merger Sub merged with and into the Company (the "Merger"), the separate corporate existence of Merger Sub ceased, the Company was the surviving corporation in the Merger (the "Surviving Corporation") and, as a result, is now a wholly-owned subsidiary of Parent.”
ONAR Onar Holding Corp

Onar Holding Corp completed an acquisition involving Juice Labs LLC for $2,000,000 (closed 2025-09-15).

“as provided therein. Pursuant to the Purchase Agreement, as consideration for the acquisition of the Membership Interests, Buyer (i) paid an aggregate consideration of $2,000,000, subject to adjustment and holdback as set forth in the Purchase Agreement, and (ii) is required to pay additional consideration to the Sellers (the “Earnout Consideration”), if”
NELR Neolara Corp.

Neolara Corp. underwent a change of control involving Cao Wei (closed 2025-09-19).

“Effective September 19, 2025, Julio Antonio Quesada Murillo, the previous Chief Executive Officer, director and majority shareholder of Neolara Corp. (the “Company”), entered into a stock purchase agreement for the sale of 2,000,000 shares of Common Stock of the Company, representing approximately 63% of the issued and outstanding shares of Common Stock of the Company as of such date, to Cao Wei”
MNR MACH NATURAL RESOURCES LP

MACH NATURAL RESOURCES LP completed an acquisition involving VEPU Inc. and Simlog Inc. (closed 2025-09-16).

“on September 16, 2025, the Company completed the acquisition of 100% of the membership interests in SIMCOE LLC (“SIMCOE”) and Simlog LLC (“Simlog”) from VEPU Inc. and Simlog Inc.”
MNR MACH NATURAL RESOURCES LP

MACH NATURAL RESOURCES LP completed an acquisition involving Sabinal Energy Operating, LLC, Sabinal Resources, LLC and Sabinal CBP, LLC (closed 2025-09-16).

“on September 16, 2025, the Company completed the acquisition of certain rights, title and interests in oil and gas properties, rights and related assets located in certain designated lands in the Permian Basin from Sabinal Energy Operating, LLC (“Sabinal Energy Operating”), Sabinal Resources, LLC and Sabinal CBP, LLC”
RVYL RYVYL Inc.

RYVYL Inc. completed a disposition involving Purchaser for $15,000,000.

“Shares”) of Ryvyl EU, by Transact Europe Holdings EOOD, the Company’s wholly owned subsidiary, also domiciled in Bulgaria (“Transact Europe”) for an aggregate purchase price of $15,000,000. As also reported in the January 2025 Form 8-K, on January 23, 2025, the Company, Transact Europe and the Purchaser also entered into a Termination Agreement (the “Termination”
LMFA LM FUNDING AMERICA, INC.

LM FUNDING AMERICA, INC. completed an acquisition involving Greenidge Generation LLC for approximately $362,000 (closed 2025-09-16).

“on September 16, 2025, the Company, through the Acquiror, entered into and closed the acquisition (the "Miner Acquisition") contemplated by that certain Bitcoin Miner Purchase and Sale Agreement (the "Miner Purchase Agreement") with Greenidge Generation LLC, a New York limited liability company and affiliate of the Seller (the "Miner Seller"), pursuant to which the Acquiror purchased and acquired from the Miner Seller certain Bitmain Antminer S19, S19 Pro and S1 J Pro bitcoin miners (collectively, the "Miners") of the Miner Seller for an aggregate purchase price of approximately $362,000”
LMFA LM FUNDING AMERICA, INC.

LM FUNDING AMERICA, INC. completed an acquisition involving Greenidge Mississippi LLC for approximately $3.9 million (closed 2025-09-16).

“of the Acquired Assets and assumption of the Liabilities, the “Transaction”). The total consideration paid by the Acquiror to Seller in the Transaction was approximately $3.9 million, which includes the disbursement to Seller at closing of $195,000 previously deposited by Seller as earnest money deposit. The foregoing description of the Purchase Agreement is”
UNIT Uniti Group Inc.

Uniti Group Inc. underwent a change of control involving Windstream (closed 2025-08-01).

“On August 1, 2025, pursuant to the previously announced Agreement and Plan of Merger, dated as of May 3, 2024, by and between Uniti Group LLC, a Delaware corporation (f/k/a Uniti Group Inc. and recently converted from a Maryland corporation) ("Uniti"), New Windstream, LLC, a Delaware limited liability company ("Windstream") (as successor to Windstream Holdings II, LLC, a Delaware limited liability company), New Uniti HoldCo LP, a Delaware limited partnership and New Windstream Merger Sub, LLC, a Delaware limited liability company and indirect wholly owned subsidiary of Windstream (" Merger Sub "), as amended by Amendment No. 1 to the Agreement and Plan of Merger, dated as of July 17, 2024 (the "Merger Agreement"), Uniti and Windstream completed the previously announced merger by consummating the following transactions”
SVC Service Properties Trust

Service Properties Trust completed a disposition for $25.0 million, excluding closing costs (closed 2025-09-16).

“On September 16, 2025 , SVC sold two hotels with a total of 318 keys located in one state for a combined sales price of $25.0 million, excluding closing costs”
FWONA Liberty Media Corp

Liberty Media Corp completed an acquisition involving Dorna Sports, S.L. (MotoGP) for cash (closed 2025-07-03).

“On July 3, 2025 (the “Closing Date”), Liberty Media Corporation (“Liberty Media” or the “Company”) completed its previously announced acquisition (the “MotoGP Acquisition”), by Libertad Especia, S.L.U., a private limited company incorporated in Spain and a wholly owned subsidiary of Liberty Media (“Buyer”), of approximately 84% of the equity interests in Dorna Sports, S.L., a private limited company incorporated in Spain (“MotoGP”), for cash”
TRNR Interactive Strength, Inc.

Interactive Strength, Inc. completed an acquisition involving Wattbike (Holdings) Limited for $4.0 million (closed 2025-07-01).

“and Loan Notes of Wattbike Holdings Limited (the “Wattbike Agreement”) entered into on April 8, 2025 (the “Acquisition”). The aggregate purchase price for the Acquisition was $4.0 million, which consisted of the issuance of 1.3 million convertible Series E Preferred Stock (the “Series E Convertible Preferred Stock”) with an aggregate fair value of $2.6 million,”
HilleVax, Inc.

HilleVax, Inc. underwent a change of control involving XOMA Royalty Corporation (Parent) and its wholly-owned subsidiary XRA 4 Corp. (Merger Sub) for $1.95 in cash per Share plus one non-transferable contractual contingent value right (closed 2025-09-17).

“a tender offer (the “Offer”) to acquire any and all of the issued and outstanding shares of common stock, par value $0.0001 per share, of the Company (the “Shares”), for (i) $1.95 in cash per Share, payable without interest (the “Cash Amount”), plus (ii) one non-transferable contractual contingent value right (each, a “CVR”) per Share, representing the”

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.