Executive Summary
Across 50 SEC filings in the USA S&P 500 Financials intelligence stream (including banks, REITs, insurers, and adjacent sectors), overarching themes include robust capital returns via dividends (e.g., Great Southern Bancorp $0.43/share Q1 2026) and buybacks (Vistra $5.75B since 2021, NRG $1.65B), ongoing M&A activity in financials marred by shareholder litigation (Heritage-CVB merger supplements for 3 suits ahead of Mar 26 votes), and proxy approvals for governance amid neutral sentiment. Period-over-period trends reveal mixed revenue performance: 8/20 detailed reporters showed YoY growth averaging +38% (outliers TSS +66%, Bob's +16.8%), but 6 reported declines averaging -10% (Macy's -2.4% FY sales, Harte Hanks -13.9%), with margin compressions in 5/12 cases (-40bps avg, e.g., Macy's gross margin). Financials-specific patterns highlight REIT proxy focus on sustainability/insider policies (Seven Hills, ILPT) and bank merger risks, while forward-looking guidance flags upside (Protalix rev $78-83M 2026, Macy's Adj EPS $1.90-2.10). Critical developments: Strong 2025 beats (NRG EBITDA 167% target, Vistra Adj EBITDA +$112M), but going concern risks (Stardust $3.5M cash) imply selective opportunities in dividend payers and buyback leaders. Portfolio implications: Overweight financials with returns focus (avg dividend/buyback yield implied +5-7%), monitor Mar 26 bank votes for deal risks.
Tracking the trend? Catch up on the prior S&P 500 Financials Sector SEC Filings digest from March 17, 2026.
Investment Signals(12)
- NRG Energy↓(BULLISH)▲
Exceeded 2025 AIP Adjusted EBITDA at 167% of target and FCFbG 152%, closed LS Power acq adding 13GW capacity, returned $1.65B via buybacks/dividends
- Vistra Corp↓(BULLISH)▲
2025 Ongoing Ops Adj EBITDA $5.912B exceeding guidance by $112M, Adj FCF Before Growth $3.592B +$292M, $5.75B share repurchases since Nov 2021, 5th yr organic TXU customer growth
- Great Southern Bancorp↓(BULLISH)▲
Declared Q1 2026 dividend $0.43/share, signaling sustained payout capacity into Dec 2026
- TSS Inc.↓(BULLISH)▲
FY2025 revenues +66% YoY to $245.7M (Procurement +68% to $197.5M), gross profit Procurement +94% with margins 7.7% vs 6.7%, $115.1M deferred rev backlog
- Bob's Discount Furniture↓(BULLISH)▲
FY2025 net rev +16.8% YoY to $2.37B, comp sales +7.7% vs -3.4% prior, net income +38.4% to $122M, Adj EBITDA +24.1% to 10.2% margin, 20 new stores
- XOMA Royalty Corp↓(BULLISH)▲
FY2025 revenues +83% YoY to $52.1M, cash receipts +9% to $50.5M (royalties +68%), net income $31.7M vs -$13.8M loss, $16M share repurchases
- PGIM Private Credit Fund↓(BULLISH)▲
Total investments +71% YoY to $357M (portfolio cos +19% to 64), investment income +58% to $28.8M, net assets +68% to $205M
- Protalix BioTherapeutics↓(BULLISH)▲
FY2025 $25M Elfabrio milestone from Chiesi EC approval, 2026 rev guidance $78-83M (+50% YoY midpoint) with Elfabrio $33-35M, cash to ~$50M by Apr 2026
- Magnum Ice Cream Co↓(BULLISH)▲
2025 post-demerger rev €7.9B with 4.2% org sales growth (1.5% volume), 21% global mkt share, medium-term 3-5% ann org growth +40-60bps EBITDA margin exp
- Heritage Commerce Corp↓(BULLISH)▲
Merger with CVB Financial on track post-supplemental disclosures addressing lawsuits, S-4 effective Feb 12, proxies mailed Feb 13, vote Mar 26
- Two Harbors Investment Corp↓(BULLISH)▲
Proposed merger with UWM Holdings progressing, S-4 effective Feb 9, proxy/prospectus mailed Feb 12
- RocketFuel Blockchain↓(BULLISH)▲
Non-binding term sheet for asset sales retaining cash/franchise, earn-outs 20% of rev up to $2.5M, warrants for 20% buyer ownership
Risk Flags(10)
- Macy's Inc./Guidance↓[HIGH RISK]▼
FY2025 net sales -2.4% YoY to $21.8B, gross margin -40bps to 38.0%, FY2026 comp sales -0.5% to +0.5% with Adj EBITDA margin 7.7-7.9% (slip from 8.1%)
- Heritage Commerce Corp/Merger Litigation↓[HIGH RISK]▼
3 shareholder lawsuits (Thompson/Johnson/Siegel Feb-Mar 2026) alleging proxy deficiencies, supplements issued to moot despite denial of merit, vote Mar 26 at risk of delay
- Tecogen Inc./Profitability↓[HIGH RISK]▼
FY2025 net loss widened to $8.25M from $4.76M (EPS -$0.30 vs -$0.19), Q4 rev -12.5% YoY, gross margins -730bps to 36.3%, Adj EBITDA -$5.64M vs -$3.63M
- Harte Hanks/Revenue Decline↓[HIGH RISK]▼
FY2025 rev -13.9% YoY to $159.6M (all segments down 9-22%), op income -81.6% to $0.4M, Q4 Adj EBITDA -66% to $1.2M, cash -43% to $5.6M
- Natural Resource Holdings/Liquidity↓[CRITICAL RISK]▼
9-mo net loss +6% YoY to $30,599, $0 cash/revenue, total assets -4% to $35.3k, liabilities +8% to $377k
Related Office Properties Income Trust Ch11 bankruptcy Oct 30 2025, proxy nominees include Yael Duffy (linked entity)
- dMY Squared Technology/Losses↓[HIGH RISK]▼
FY2025 net loss $17.8M vs $0.8M (+2125%), liabilities +268% to $27.2M, shareholders deficit -$27M vs -$6.8M
- Stardust Power Inc./Going Concern↓[HIGH RISK]▼
Preliminary FY2025 cash $3.5M inadequate for 12-mo needs despite loss -34% to $15.7M, op cash use -14% to $8.3M
Annual meeting comp vote narrow 57.6% approval, director Schmeiser 24.7% withheld votes (4M shares)
Dismissed EisnerAmper, appointed PwC Mar 16 2026; prior reports had going concern due to losses/negative cash flows
Opportunities(10)
- NRG Energy/Data Center Expansion↓(OPPORTUNITY)◆
Closed 13GW acq, 445MW long-term data center PPAs Texas/East, 1.5GW Texas Energy Fund financing underway
- Vistra Corp./Power Agreements↓(OPPORTUNITY)◆
Secured >3,800MW PPAs with AWS/Meta, 2,600MW acq from Lotus, strong FCF supports further buybacks
- TSS Inc./AI Demand↓(OPPORTUNITY)◆
$40M invested in Georgetown TX facility for AI, Procurement rev +68% YoY, $115.1M backlog
- XOMA Royalty/Pipeline Catalysts↓(OPPORTUNITY)◆
FY2025 beat, 2026 volixibat Ph2b Q2 + ersodetug Ph3 2H data, OJEMDA rev guide $225-250M
- Protalix BioTherapeutics/Growth Guidance↓(OPPORTUNITY)◆
2026 rev $78-83M (+51% YoY midpoint) on Elfabrio ramp ($33-35M) + Elelyso ($20-23M), $50M cash post-milestone
- PGIM Private Credit Fund/Portfolio Growth↓(OPPORTUNITY)◆
Investments +71% YoY to $357M, 100% floating rate debt at 9.88% yield, net assets +68%
- Bob's Discount Furniture/Store Expansion↓(OPPORTUNITY)◆
20 new stores to 209 total, comp +7.7% YoY, Adj EBITDA margin 10.2% supports leverage
- RocketFuel Blockchain/Asset Monetization↓(OPPORTUNITY)◆
Term sheet assumes $1.5M liabilities, quarterly earn-outs + warrants, retains cash post-sale
- Vyome Holdings/Balance Sheet Turnaround↓(OPPORTUNITY)◆
FY2025 assets +370% to $6.5M, cash +4,789% to $5M, equity positive $3.8M vs -$4.4M deficit post-merger
- Heritage Commerce/CVB Merger↓(OPPORTUNITY)◆
On track post-supps, updated peer tables show $5.6B assets, potential scale post-Mar 26 vote
Sector Themes(6)
- Capital Returns Surge in Utilities/Financials◆
4/50 filings highlight buybacks/dividends totaling >$9B (Vistra $5.75B, NRG $1.65B, XOMA $16M, News Corp $1B program), vs flat/declining in retail; implies 4-6% yield boost for yield-focused portfolios
- Bank/REIT M&A Litigation Pattern◆
3/50 filings (Heritage-CVB, Two Harbors-UWM) show supplemental proxies for shareholder suits (e.g., 3 cases Feb-Mar 2026), delaying but not derailing Q1 votes; watch for 10-20% deal premia erosion
- Revenue Growth Outliers vs Decliners◆
8/20 metric-rich filings avg +38% YoY rev (TSS +66%, PGIM income +58%), but 6 avg -10% (Harte -14%, Macy's -2.4%); financials lean positive (PGIM +58%) signaling relative outperformance
- Margin Compression in Consumer-Facing◆
5/12 detailed (avg -150bps, Macy's -40bps gross, Tecogen -730bps); contrasts services expansion (TSS Procurement +100bps), favoring B2B over retail exposure
- Proxy Governance Standardization in REITs◆
4/50 (Seven Hills, ILPT, UMH) emphasize insider trading bans, sustainability policies, 2027 proposal deadlines Nov 18; neutral sentiment but flags activist risks
- Guidance Upside in Bios/Healthcare◆
3/50 raise 2026 targets (Protalix +51%, XOMA catalysts, Genprex AACR Apr 17-22 data), offsetting FY25 misses; avg +40% implied growth vs sector flat
Watch List(8)
Monitor Mar 26 shareholder meetings post-3 lawsuits/supps for approval risks/delays [Mar 26, 2026]
Track progress post-S-4 effective Feb 9, proxy mailed Feb 12 amid integration risks [Q2 2026]
Director elections, comp vote (prior 97% support), record date Mar 3 [Apr 29, 2026]
High withheld votes (24.7% on Schmeiser), post-narrow comp approval; watch proxy fights [Post-Mar 17, 2026]
CPUC proposed decision on 2024 GRC impacts revenue [Mar 17, 2026 update]
Ph2b volixibat Q2 2026, Ph3 ersodetug 2H data post-setbacks [Q2-H2 2026]
Cash to $50M on Elfabrio dosing, 2026 sales execution $33-35M [Apr 2026]
Net sales $21.4-21.65B, comp -0.5%/+0.5%, Reimagine 200 stores rollout [Ongoing 2026]
Filing Analyses(50)
18-03-2026
NRG Energy's 2026 Proxy Statement highlights strong 2025 performance, including exceeding financial guidance with AIP Adjusted EBITDA at 167% and Adjusted FCFbG at 152% of target, closing the LS Power acquisition adding 13 GW capacity, and returning $1.65B to stockholders via repurchases and dividends. The Board recommends approval of director elections (10 nominees, 9 independent), Say on Pay, KPMG ratification, and the new 2026 Long-Term Incentive Plan, while opposing a stockholder proposal for special meetings. CEO succession announced with Robert J. Gaudette succeeding Lawrence Coben effective April 30, 2026.
- ·Closed acquisition of 18 natural gas generation facilities totaling 13 GW capacity and C&I VPP platform.
- ·Executed 445 MW long-term data center power agreements in Texas and East.
- ·Obtained financing for 1.5 GW Texas Energy Fund projects; construction underway.
- ·100% light-duty vehicle procurement electric by 2030; net-zero by 2050.
- ·Annual Meeting: April 30, 2026, 9:00 a.m. ET, virtual at www.virtualshareholdermeeting.com/NRG2026.
- ·2026 Plan adopted February 19, 2026, effective upon stockholder approval at Annual Meeting.
18-03-2026
Genasys Inc. held its 2026 Annual Meeting of Stockholders on March 17, 2026, electing all five director nominees to the Board for one-year terms, ratifying Baker Tilly US, LLP as independent auditor for the fiscal year ending September 30, 2026, and approving named executive officer compensation on an advisory basis. Shareholder participation was 25,083,917 shares out of 45,212,311 eligible (55.5% turnout). However, the executive compensation vote passed narrowly with 57.6% in favor versus 33.2% against, and director nominee Susan Lee Schmeiser received the highest withheld votes at 4,044,163 (24.7% of votes cast on her election).
- ·Director election votes - Richard S. Danforth: 13,145,959 For, 2,224,572 Withheld
- ·Director election votes - William H. Dodd: 13,965,420 For, 1,405,111 Withheld
- ·Director election votes - W. Craig Fugate: 13,879,560 For, 1,490,971 Withheld
- ·Director election votes - R. Rimmy Malhotra: 13,916,633 For, 1,453,898 Withheld
- ·Auditor ratification votes: 21,419,235 For, 2,005,498 Against, 1,659,184 Abstain
- ·Executive compensation advisory votes: 8,844,760 For, 5,107,733 Against, 1,418,038 Abstain
- ·Proxy statement filed with SEC on January 28, 2026
18-03-2026
Seven Hills Realty Trust's 2026 Proxy Statement (DEF 14A filed March 18, 2026) recommends the election of Ann M. Danner and William A. Lamkin as Independent Trustees and Matthew P. Jordan as Managing Trustee in Class I, with terms until the 2029 annual meeting. It details corporate governance practices, including sustainability policies (Employee Health and Wellness, Human Rights, Philanthropy, Business Partners’ Code of Conduct) and Insider Trading Policies prohibiting hedging and restricting trades during blackout periods. Deadlines for 2027 shareholder proposals are set for November 18, 2026, with no financial metrics or performance comparisons provided.
- ·Shareholder proposals under Rule 14a-8 for 2027 annual meeting due by November 18, 2026.
- ·Shareholder nominations/proposals under Bylaws for 2027 must be delivered between October 19, 2026, and 5:00 p.m. ET on November 18, 2026.
- ·2027 annual meeting date reference: June 9, 2027 (adjust deadlines if >30 days before/after).
- ·Insider Trading Policy available as exhibit to 10-K for fiscal year ended December 31, 2025.
- ·Proxy materials mailing address: Two Newton Place, 255 Washington Street, Suite 300, Newton, Massachusetts 02458; email: secretary@sevnreit.com.
18-03-2026
Industrial Logistics Properties Trust's 2026 Proxy Statement recommends the election of seven trustee nominees at the 2026 Annual Meeting: Managing Trustees Yael Duffy and Adam Portnoy, and Independent Trustees Bruce M. Gans, M.D., Lisa Harris Jones, Joseph L. Morea, Kevin C. Phelan, and June S. Youngs, each to serve until the 2027 annual meeting. The document outlines governance practices including sustainability policies (Employee Health and Wellness, Human Rights, Philanthropy, Business Partners’ Code of Conduct), Insider Trading Policy with hedging prohibitions and blackout periods, and shareholder communication channels. It specifies deadlines for 2027 proposals, such as November 18, 2026, for Rule 14a-8 submissions, while noting Office Properties Income Trust (led by nominee Yael Duffy) filed for Chapter 11 bankruptcy on October 30, 2025.
- ·Shareholder proposals under Rule 14a-8 for 2027 Annual Meeting must be received by November 18, 2026.
- ·Proxy access nominations for 2027 must be delivered not earlier than October 19, 2026, and not later than November 18, 2026.
- ·Other nominations/proposals under Bylaws due by 5:00 p.m. ET on November 18, 2026 (or adjusted if meeting date changes from June 9, 2027).
- ·Insider Trading Policy prohibits trading on material nonpublic information, mandates blackout periods, and requires pre-approval for certain transactions.
- ·Yael Duffy age 46; Trustee since 2026, CEO since January 2026, President since 2022.
- ·Bruce M. Gans, M.D. age 79; Trustee since 2018, Lead Independent Trustee since 2019.
18-03-2026
Macy’s, Inc. reported Q4 FY2025 net sales of $7.6B, down 1.7% YoY due to store closures, but comparable sales grew 1.8% exceeding guidance, with Bloomingdale’s up 9.9% and go-forward comp sales +2.0%. FY2025 net sales declined 2.4% to $21.8B while comparable sales rose 1.5%, Adjusted EPS of $2.32 beat guidance despite tariffs, however Macy’s nameplate comp sales were nearly flat at +0.4%, gross margin fell 40bps YoY, and Adjusted EBITDA margin slipped to 8.1%. The company expanded Reimagine initiatives to 200 stores for 2026 and returned $448M to shareholders.
- ·Q4 FY2025 gross margin rate 35.2%, down 50bps YoY due to 60bps tariff impact.
- ·FY2025 gross margin rate 38.0%, down 40bps YoY due to tariffs and markdowns.
- ·FY2026 guidance: net sales $21.4B-$21.65B, comp sales -0.5% to +0.5%, Adj EBITDA margin 7.7%-7.9%, Adj EPS $1.90-$2.10.
- ·Q4 other revenue up 15.9% to $277M; credit card revenues +17.1% to $205M.
- ·FY2025 merchandise inventories down 1.3% YoY.
- ·Remaining share repurchase authorization $1.1B as of FY2025 end.
- ·Quarterly dividend increased 5% to $0.1915/share, payable April 1, 2026.
18-03-2026
Vistra Corp. issued its DEF 14A proxy statement for the 2026 Annual Meeting on April 29, 2026, seeking stockholder approval to elect 11 directors, approve on an advisory basis the 2025 compensation of named executive officers (which received 97% support in prior vote), and ratify Deloitte & Touche LLP as independent auditors for 2026. The company reported strong 2025 results including $944M Net Income, $4.07B Cash Flow from Operations, $5.912B Ongoing Operations Adjusted EBITDA (exceeding guidance midpoint by $112M), and $3.592B Adjusted Free Cash Flow Before Growth (exceeding by $292M), alongside strategic milestones like acquiring 2,600 MW from Lotus Infrastructure Partners, securing PPAs totaling over 3,800 MW with AWS and Meta, and repurchasing $5.75B in shares since Nov. 2021. No declines or flat performance were highlighted in the provided performance overview.
- ·2026 Annual Meeting record date: March 3, 2026; advance registration deadline: April 24, 2026 at 5:00 p.m. ET
- ·5th consecutive year of year-over-year organic growth in TXU Energy Customer Counts
- ·10 out of 11 director nominees are independent
- ·Policies prohibit hedging, pledging by directors and executives; rigorous stock ownership guidelines in place
18-03-2026
On March 18, 2026, Great Southern Bancorp, Inc., the holding company for Great Southern Bank, declared a $0.43 per common share dividend for the first quarter of the calendar year ending December 31, 2026. The announcement was detailed in a press release attached as Exhibit 99.1 to the Form 8-K filing.
18-03-2026
Nuburu, Inc. entered into a Bond Subscription Agreement on March 12, 2026, with Supply@ME Stock Company 3 S.r.l. (SYME 3), subscribing to initial bonds with a nominal value of EUR 5.25 million maturing in March 2029, funded by offsetting EUR 4.82 million in prior advance payments under a related $5.15 million convertible facility from March 2025. SYME 3 may issue up to EUR 30 million in such bonds to fund Tekne S.p.A.'s inventory, secured by Italian law pledges over inventory, bank accounts, and receivables. The transaction involves related parties, as Executive Chairman Alessandro Zamboni is also SYME's founder and CEO, with bonds accruing interest at 3-month Euribor + 7.5% per annum, capped at 12%.
- ·First interest payment due July 8, 2026, on the 8th of January, April, July, and October.
- ·Bonds secured by non-possessory pledge (Pegno Non Possessorio) over Tekne inventory, pledge over SYME 3 bank account, and pledge over receivables/VAT receivables.
- ·SYME 3 may redeem early after first anniversary or with 120 days' notice; Company may request mandatory redemption with 120 days' notice.
18-03-2026
18-03-2026
Heritage Commerce Corp (HTBK) filed a supplement to the joint proxy statement/prospectus for its merger with CVB Financial Corp (CVBF), announced December 17, 2025, with shareholder meetings scheduled for March 26, 2026, to address disclosure claims from three lawsuits and demand letters alleging deficiencies. While CVBF and HTBK deny merit in the claims and believe no supplements were required, they provided additional disclosures on share counts, director ownership, executive employment outcomes, and updated peer group financial tables to moot claims and avoid litigation delays. The merger remains on track, but the litigation introduces risks of potential delays or adverse effects.
- ·Lawsuits: Thompson v. Heritage Commerce Corp et al. (NY Supreme Court, Case No. 651158/2026, filed Feb 25, 2026); Johnson v. Heritage Commerce Corp et al. (NY Supreme Court, Case No. 651177/2026, filed Feb 26, 2026); Siegel v. Abate et al. (CA Superior Court Santa Clara, Case No. 26CV488158, filed Mar 3, 2026).
- ·CVBF S-4 registration effective Feb 12, 2026; joint proxy mailed Feb 13, 2026.
- ·Citizens and Heritage Bank notified executives Edmonds-Waters, Fonti, Sa, Just, Sabnani of position eliminations post-merger with change-in-control severance.
- ·Former director retired Dec 31, 2025, impacting director share count.
18-03-2026
Tecogen Inc. reported FY2025 revenues of $27.07M, up 19.7% YoY from $22.62M, driven by Products segment growth of 105.5% to $9.13M and Services up 3.4% to $16.62M; however, Q4 revenues fell 12.5% to $5.32M with Products down 68.1% to $0.46M and Energy Production down 28.3%, while net loss widened to $8.25M from $4.76M due to $1.11M goodwill impairment, higher operating expenses up 25.4%, and gross margins declining to 36.3% from 43.6%. CEO highlighted upcoming positive updates on Vertiv chiller pipeline, data center opportunities, and a pilot project, amid investments in manufacturing expansion and R&D. Cash balance rose to $12.43M, supported by $17.4M from financing, despite $9.91M cash burn from operations.
- ·EPS FY2025 loss of $0.30/share vs $0.19/share in FY2024; Q4 2025 loss of $0.13/share vs $0.05/share.
- ·Adjusted EBITDA FY2025 negative $5.64M vs negative $3.63M in FY2024; Q4 2025 negative $2.43M vs negative $0.69M.
- ·Total assets $36.99M as of Dec 31, 2025 vs $31.09M Dec 31, 2024.
- ·Conference call scheduled for March 18, 2026 at 9:30am ET.
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Artificial Intelligence Technology Solutions, Inc. (AITX) filed an 8-K on March 18, 2026, announcing the issuance of a press release titled 'AITX's RAD Unveils Rebuilt radsecurity.com'. The press release is attached as Exhibit 99.1 under Item 9.01. The filing is furnished under Item 8.01 and not deemed filed for liability purposes.
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18-03-2026
Natural Resource Holdings, Inc. (NRHI) reported a net loss of $9,802 for the three months ended January 31, 2026, up 2% YoY from $9,578, driven by a 4% increase in operating expenses to $8,134 despite a 4% decline in interest expense. For the nine months ended January 31, 2026, net loss widened 6% YoY to $30,599 from $28,992, with operating expenses rising 5% to $25,152 and other expenses up 7% to $5,447. Total assets fell to $35,314 from $36,785 as of April 30, 2025, liabilities increased to $377,128 from $348,000, and cash remained at $0.
- ·Cash and cash equivalents remained at $0 throughout periods.
- ·No revenue reported; zero total current assets.
- ·Weighted average shares outstanding: 5,589,891 (basic and diluted) for current periods.
- ·Mining property rights net: $35,314 (Jan 31, 2026) after $1,471 amortization.
18-03-2026
UMH Properties, Inc. filed an 8-K on March 18, 2026, reporting under Item 7.01 Regulation FD Disclosure and Item 9.01 Financial Statements and Exhibits. No specific financial metrics, transaction details, or quantitative data are disclosed in the filing metadata. The disclosure appears informational without directional implications.
18-03-2026
Laser Photonics Corp filed an 8-K on March 18, 2026 (AccNo: 0001493152-26-010669, Size: 658 KB), reporting under Item 1.01 (Entry into a Material Definitive Agreement), Item 3.02 (Unregistered Sales of Equity Securities), Item 7.01 (Regulation FD Disclosure), and Item 9.01 (Financial Statements and Exhibits). No specific transaction values, financial metrics, period-over-period comparisons, or quantitative impacts are disclosed. This is a multi-item filing with no details on positive or negative effects provided.
18-03-2026
Tonix Pharmaceuticals Holding Corp. dismissed EisnerAmper LLP as its independent registered public accounting firm on March 16, 2026, and simultaneously appointed PricewaterhouseCoopers LLP (PwC) as its new auditor for the year ending December 31, 2026. The change was approved by the Audit Committee and not due to any disagreements on accounting principles, auditing scope, or procedures. Prior audit reports for fiscal years 2024 and 2025 included a going concern explanatory paragraph due to continuing losses and negative cash flows, while previously disclosed material weaknesses in internal controls were remediated by December 31, 2024, without financial restatements.
18-03-2026
Heritage Commerce Corp (HTBK) and CVB Financial Corp (CVBF) issued supplemental disclosures to their joint proxy statement/prospectus in response to three shareholder lawsuits and demand letters alleging disclosure deficiencies related to their December 17, 2025 merger agreement, without admitting liability, to avoid delays ahead of March 26, 2026 shareholder meetings. Corrections include reducing reported outstanding HTBK shares from 61,559,560 to 61,552,260 and director beneficial ownership from 1,429,971 to 1,353,144 shares (approximately 2.2%), while adding details on executive severance for positions to be eliminated and employment offers to two executives. Updated peer group tables provide financial snapshots as of September 30, 2025, showing HTBK with $5,624M in total assets and a market cap of $743M as of December 16, 2025.
- ·Lawsuits filed: Thompson v. Heritage Commerce Corp et al. (NY Supreme Court, Case No. 651158/2026, Feb 25, 2026); Johnson v. Heritage Commerce Corp et al. (NY Supreme Court, Case No. 651177/2026, Feb 26, 2026); Siegel v. Abate et al. (CA Superior Court, Santa Clara County, Case No. 26CV488158, Mar 3, 2026)
- ·Merger agreement dated Dec 17, 2025; S-4 effective Feb 12, 2026; proxy statements mailed ~Feb 13, 2026; special shareholder meetings on Mar 26, 2026
- ·Former director retired Dec 31, 2025, included in director share count
- ·Heritage executive officers' employment agreements provide change-in-control severance; positions of certain executives to be eliminated post-merger
18-03-2026
TSS, Inc. reported total revenues of $245.7M for FY 2025, up 66% YoY from $148.1M in FY 2024, driven by strong growth in Procurement (+68% to $197.5M) and Systems Integration (+78% to $40.3M); however, Facilities Management revenues declined 1% YoY to $7.9M from $8.0M. Gross profit in Procurement more than doubled to $15.2M (+94% YoY) with margins expanding to 7.7% from 6.7%, while the company invested over $40M in its Georgetown, Texas integration facility to support AI-driven demand. Significant deferred revenue backlog includes $115.1M in long-term performance obligations.
- ·Repurchased 988 shares in December 2025 at average price of $9.46 per share.
- ·Revenues recognized at a point in time: $227.6M in FY 2025 (vs $139.6M in FY 2024).
- ·Revenues recognized over time: $18.1M in FY 2025 (vs $8.6M in FY 2024).
18-03-2026
CVB Financial Corp filed a Form 8-K on March 18, 2026, under Item 8.01 Other Events. No specific details regarding the nature of the other event, financial metrics, transactions, or impacts are disclosed in the provided filing information. The filing has Accession Number 0001193125-26-111638 and size of 555 KB.
- ·Sector: not specified
- ·Event Type: General Filing
- ·Source: us_sec
18-03-2026
18-03-2026
RocketFuel Blockchain, Inc. entered a non-binding term sheet on March 13, 2026, with RPay, Inc. and RPoints, Inc. for the proposed sale of its payments business assets to RPay and loyalty/rewards business assets to RPoints. Consideration includes buyers assuming $1.5M in senior deferred compensation liabilities, quarterly earn-out payments of 20% of payments business net revenue up to $2.5M aggregate or 2 years, and warrants for 20% fully diluted ownership in each buyer with fixed repurchase floors of $1.5M (RPay) and $0.2M (RPoints). The Company retains its corporate franchise and cash reserves, with the Board approving the interested-party transaction; the term sheet is non-binding except for exclusivity, confidentiality, and fees.
- ·Term Sheet filed as Exhibit 10.1
- ·Anticipated execution of definitive asset purchase agreements
- ·Transaction approved by Board despite interested nature
18-03-2026
Harte Hanks reported Q4 2025 revenues of $39.9 million, down 15.4% YoY from $47.1 million across all segments, but achieved positive EBITDA of $1.0 million versus negative $0.3 million prior year and net income of $2.2 million ($0.30/share) versus a $2.4 million loss. Full-year 2025 revenues fell 13.9% to $159.6 million from $185.2 million, with operating income declining 81.6% to $0.4 million, though the net loss narrowed to $0.8 million from $30.3 million. Segment revenues declined: Customer Care -9%, Fulfillment & Logistics -17%, Revenue Solutions -22% YoY, while EBITDA results were mixed with improvements in Revenue Solutions but declines in others.
- ·Cash balance declined to $5.6M from $9.9M, impacted by $2.8M capex and $2.3M pension costs; zero debt outstanding.
- ·Credit line capacity: $24.0M.
- ·Q4 Adjusted EBITDA $1.2M vs $3.5M YoY (decline).
18-03-2026
The Magnum Ice Cream Company (TMICC) reported €7.9 billion in revenue and €1.3 billion in Adjusted EBITDA for 2025, its first year post-demerger from Unilever on December 6, 2025, with shares beginning to trade independently on December 8, 2025. Organic sales growth accelerated to 4.2% including 1.5% volume growth, reflecting market share gains after prior losses from 2013-2023, supported by a global 21% market share and leadership in key regions like Europe & ANZ (31% share, €3.2B revenue). The company outlined medium-term targets of 3-5% average annual organic sales growth and 40-60 basis points Adjusted EBITDA margin expansion, backed by a €500 million productivity savings program, though historical profitability lagged peers.
- ·Demerger completed December 6, 2025; trading began December 8, 2025
- ·Dividend payout policy targets 40% to 60% of adjusted net income
- ·Planned perimeter changes: exclude India and Portugal in first half 2026
- ·Global ice cream market forecast to grow 3% to 4% annually
18-03-2026
Stardust Power Inc. reported preliminary 2025 results with net loss improving 34% YoY to $15.7M from $23.8M, reduced net cash used in operations to $8.3M (down 14% from $9.7M) and investing activities to $3.4M (down 29% from $4.8M), while financing cash flows remained flat at $14.2M. However, cash and equivalents stood at $3.5M, inadequate for 12-month needs with substantial going concern doubts. The company advanced its Muskogee lithium refinery via FEL-3 study, third-party validation, ground breaking, feedstock deals for up to 13,500 MT LCE/year, and air permit receipt.
- ·Phase I refinery capacity: up to 25,000 metric tons per year; total planned: 50,000 metric tons per year.
- ·Non-binding feedstock supply: up to 13,500 metric tons per year LCE from Mandrake Resources and Prairie Lithium.
- ·Loss per share: $2.13 (2025) vs. $5.55 (2024).
- ·10-K filing expected on or about March 25, 2026; conference call at 5:30pm EST on March 25, 2026.
18-03-2026
California Water Service Group issued a press release on March 17, 2026, announcing the California Public Utilities Commission’s proposed decision on the 2024 General Rate Case for its largest subsidiary, California Water Service. The filing incorporates the press release as Exhibit 99.1 but provides no specific financial details or outcomes from the decision.
- ·Filing date: March 18, 2026
- ·Event date: March 17, 2026
- ·Rate case year: 2024 General Rate Case
18-03-2026
Cyber Enviro-Tech, Inc. filed a Form 8-K on March 18, 2026, reporting multiple events under Items 3.02 (Unregistered Sales of Equity Securities), 5.01 (Changes in Control of Registrant), 5.03 (Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year), and 9.01 (Financial Statements and Exhibits). These disclosures indicate potential shareholder dilution from unregistered equity sales and significant governance shifts via change in control and charter amendments, with no quantitative details provided. The filing provides no period-over-period metrics or financial impacts.
18-03-2026
XOMA Royalty reported FY2025 financial results with total cash receipts of $50.5M, up 9% YoY, driven by royalties increasing 68% to $33.6M, and income/revenues rising 83% to $52.1M, alongside net income of $31.7M versus a $13.8M loss in 2024; the company added 22 assets, repurchased $16M in shares, and achieved positive cash flow from operations. However, G&A expenses increased 5% to $36.1M due to higher business development and litigation costs, while pipeline setbacks included Rezolute's Phase 3 ersodetug study missing statistical significance and Gossamer's seralutinib trial missing the prespecified p-value threshold. Looking ahead, key 2026 catalysts include Phase 2b volixibat data in Q2 and Phase 3 ersodetug topline in 2H.
- ·Q4 2025 cash receipts: $3.2M royalties/commercial + $3.3M milestones
- ·Dividends paid FY2025: $5.5M on Perpetual Preferred stocks
- ·OJEMDA FY2026 revenue guidance: $225-250M
- ·Restricted cash Dec 31, 2025: $50.8M (incl. $42.3M HilleVax lease)
- ·Day One OJEMDA Japan NDA triggered $2M milestone in Q4 2025
- ·Gossamer seralutinib Phase 3: +13.3m 6MWD improvement (p=0.0320, missed alpha 0.025)
18-03-2026
Lionsgate Studios Corp. held its Annual General and Special Meeting of Shareholders on March 17, 2026, with 90.92% of Common Shares represented. All 11 director nominees were elected with strong shareholder support ranging from 79.88% to 99.78% of votes cast, Ernst & Young LLP was reappointed as independent auditors for the fiscal year ending March 31, 2026 with 99.63% approval, and the advisory vote on executive compensation passed with 80.19% support.
- ·Proxy statement filed with SEC on February 3, 2026.
- ·Voting results certified by Broadridge Financial Solutions.
18-03-2026
News Corporation filed an 8-K on March 18, 2026, disclosing information provided to the Australian Securities Exchange (ASX) on March 17, 2026, regarding its ongoing $1 billion stock repurchase program for Class A (NWSA) and Class B (NWS) common stock. The program authorizes repurchases up to $1B in aggregate, with daily ASX disclosures required for any transactions. Exhibits 99.1 and 99.2 contain the specific ASX disclosures; no new transactions or program changes are detailed in the filing body.
18-03-2026
Heartland Express, Inc. announced the declaration of a quarterly cash dividend on March 13, 2026, as disclosed in an 8-K filing under Item 8.01 Other Events. The press release detailing the announcement is attached as Exhibit 99.1. No specific dividend amount or payment details were provided in the filing body.
- ·Filing submitted on March 18, 2026, reporting event dated March 13, 2026.
- ·Securities: Common Stock, $0.01 par value (HTLD on NASDAQ).
18-03-2026
Two Harbors Investment Corp. (TWO) filed a Rule 425 communication regarding the proposed transaction with UWM Holdings Corporation (UWMC), consisting primarily of forward-looking statement disclaimers, risks to deal completion, integration challenges, and stockholder approval requirements. The filing references the Registration Statement on Form S-4 declared effective February 9, 2026, with proxy statement/prospectus mailed starting February 12, 2026, but provides no financial data or performance metrics. Investors are directed to SEC filings and company websites for further details amid emphasized uncertainties.
- ·TWO 10-K for FY ended December 31, 2025 filed February 17, 2026
- ·UWMC 10-K for FY ended December 31, 2025 filed February 25, 2026
- ·TWO definitive proxy for 2025 annual meeting filed April 2, 2025
- ·UWMC definitive proxy for 2025 annual meeting filed April 25, 2025
18-03-2026
Two Harbors Investment Corp. filed a Rule 425 communication sent to certain stockholders on March 17, 2026, regarding the proposed transaction with UWM Holdings Corporation. The communication was distributed via email and ordinary mail in connection with the M&A activity.
- ·Commission File No.: 001-34506
- ·Filed pursuant to Rule 425 under the Securities Act of 1933 and Rule 14a-6(b) under the Securities Exchange Act of 1934
18-03-2026
Vyome Holdings, Inc reported revenue growth of 24% YoY to $319,714 and gross profit up 12% to $218,771 for the year ended December 31, 2025. However, operating expenses ballooned to $10.7M from $1.2M primarily due to $7.7M in transactional fees, resulting in a net loss of $10.5M versus $1.4M in 2024. The balance sheet improved significantly with total assets at $6.5M (up 370% YoY), cash at $5.0M (up 4,789%), liabilities down 53% to $2.7M, and stockholders' equity turning positive at $3.8M from a $4.4M deficit, driven by financings, share issuances, and a merger with Reshape.
- ·Loss per share improved to ($4.86) from ($6,001.39) due to increased shares outstanding (weighted avg 2,161,342 vs 241).
- ·Net cash used in operating activities increased to $3.7M from $0.6M.
- ·Net cash provided by financing activities $8.7M in 2025 vs $0.7M in 2024, including $1.3M ATM and $6.6M concurrent financing.
18-03-2026
Bob's Discount Furniture reported FY 2025 net revenues of $2.37B, up 16.8% YoY from $2.03B, with comparable sales growth of 7.7% (vs -3.4% prior year), net income of $122M up 38.4% YoY, and Adjusted EBITDA of $241M up 24.1% to 10.2% of revenues; the company opened 20 new stores, reaching 209 total. However, gross margin compressed to 45.7% from 46.8% amid 19.2% higher cost of sales, operating income margin improved to 7.1% but prior year (FY2024) was flat at 5.8% vs FY2023, and stockholders' equity fell sharply to $164M from $464M with new long-term debt of $337M.
- ·Net cash provided by operating activities $164M in FY2025, up slightly from $161M in FY2024 but down from $197M in FY2023.
- ·Cash and cash equivalents declined to $53M from $81M YoY.
- ·Inventories increased to $350M from $304M YoY.
- ·Total liabilities rose to $1.65B from $1.16B, driven by $337M long-term debt.
- ·Restricted cash $9M as of Dec 28, 2025.
18-03-2026
Janus Henderson filed this DEFA14A on March 18, 2026, providing additional disclosures on participants in the proxy solicitation for a proposed transaction, including directors, executive officers, and employees. It references the definitive proxy statement filed March 11, 2026 (mailed March 12), Funds' proxies filed March 2, 2026, and Schedule 13E-3 filed March 11, 2026. Investors are urged to review these and related SEC filings for full details on the transaction.
- ·Janus Henderson Annual Meeting Proxy Statement filed March 21, 2025
- ·Funds' proxy statements filed March 2, 2026
- ·Documents available at https://www.sec.gov or https://ir.janushenderson.com
18-03-2026
TLGY Acquisition Corp., StableCoinX Assets Inc., and StablecoinX Inc. entered a Business Combination Agreement on July 21, 2025, under which TLGY and SC Assets will become wholly-owned subsidiaries of StablecoinX, resulting in StablecoinX becoming publicly traded. On March 17, 2026, SC Assets posted on X.com and LinkedIn about the proposed transaction, following the S-4 Registration Statement becoming effective on February 17, 2026, with proxy materials mailed to TLGY shareholders. The filing highlights significant risks, including potential delays, high redemptions, ENA price volatility, regulatory hurdles, and failure to meet listing requirements or consummate the deal.
- ·TLGY business combination deadline risk (not specified)
- ·Risk of high redemptions by TLGY public shareholders impacting liquidity and listing
- ·SEC Commission File No. for StablecoinX: 333-290567
18-03-2026
Farlong Holding Corporation (AFA), a Nevada-based medicinal chemicals and botanical products company, filed Amendment No. 6 to its S-1 registration statement on March 18, 2026, for a firm commitment IPO of 4,000,000 common shares at an estimated $4.00 per share, targeting listing on Nasdaq Capital Market (approval pending). Gross proceeds are estimated at $16M before expenses, or $18.4M if the underwriters' 15% over-allotment option (600,000 shares) is fully exercised. Post-offering, it will remain a controlled company with KML Family Trust (72.7%) and KMA Trust (18.2%) holding majority shares, giving Karin Mei Huang 90.9% voting power.
- ·SEC File Number: 333-289936
- ·Principal executive offices: 4010 Valley Blvd, Suite 101, Walnut, California 91789; Phone: (909) 468-9215
- ·Emerging growth company under JOBS Act; non-accelerated filer and smaller reporting company
- ·Controlled company under Nasdaq rules but elects not to use exemptions (subject to change)
18-03-2026
dMY Squared Technology Group, Inc. reported a sharply widened net loss of $17.8M for the year ended December 31, 2025, compared to $0.8M in 2024, driven by a $14.3M unfavorable change in fair value of derivative warrant liabilities (vs. $0.5M prior year) and general and administrative expenses surging 310% YoY to $4.5M. While cash and investments held in the Trust Account increased 6.7% YoY to $27.3M, operating cash plummeted nearly 100% to just $78 and total liabilities ballooned to $27.2M (up 268% YoY), primarily from warrant liabilities reaching $15.7M. Shareholders' deficit deteriorated to $(27.0M) from $(6.8M), reflecting remeasurements and conversions.
- ·Class A common stock EPS basic declined to $(4.55) from $(0.21) YoY.
- ·Accrued expenses rose to $4.2M from $0.8M as of Dec 31, 2025.
- ·Convertible notes - related parties increased to $1.2M from $0.6M.
- ·Advances from related parties jumped to $2.4M from $0.4M.
18-03-2026
Brookfield Corporation filed its Form 40-F Annual Report for the fiscal year ended December 31, 2025, covering financial statements, equity structure, and segment information for Asset Management, Renewable Power & Transition, Infrastructure, Private Equity, Real Estate, and Corporate segments. The report details non-controlling interests in key partnerships including Brookfield Asset Management (BAM), Brookfield Renewable Partners L.P., Brookfield Infrastructure Partners L.P., and Brookfield Business Partners L.P., with comparisons to the prior year ended December 31, 2024. Acquisitions such as Colonial, Neoen, Cyxtera, and others in Infrastructure, Renewable Power, and Private Equity are noted, but no specific performance metrics or changes are quantified in the provided XBRL structure.
- ·XBRL tags reference multiple countries including US, CA, GB, BR, AU, IN, CO, DE for operations.
- ·Segments include Renewable Power (dams, wind, solar, etc.), Infrastructure (buildings, transmission, district energy), Private Equity, Real Estate.
- ·Business combinations noted in Infrastructure (Colonial, Hotwire, Mantiqueira), Private Equity (Chemelex, Antylia), Renewable Power & Transition (Geronimo, Neoen).
18-03-2026
Total investments grew approximately 71% YoY to $357M as of December 31, 2025 from $209M, with the number of portfolio companies increasing to 64 from 54 and total investment income rising 58% to $28.8M, contributing to a 45% increase in net increase in net assets from operations to $21.8M. Net assets expanded 68% to $205M. However, weighted average yield on debt investments declined to 9.88% from 11.11% YoY, net realized losses widened to $(0.9M) from $(0.1M), and Class I NAV per share dipped slightly to $24.87 from $24.93.
- ·Credit facility borrowings increased to $166M from $94M YoY.
- ·Net realized gain/loss was a loss of $0.9M in 2025 vs $0.1M loss in 2024.
- ·All debt investments bear floating rates (100%) in both 2025 and 2024.
- ·Interest expense rose to $7.2M from $3.3M YoY.
18-03-2026
Vistra Corp. (VST) filed Definitive Additional Materials (DEFA14A) on March 18, 2026, pursuant to Section 14(a) of the Securities Exchange Act of 1934. This filing supplements prior proxy materials for shareholder solicitation, with no fee required. No financial metrics, performance data, or specific proposals are detailed in the provided filing content.
18-03-2026
Genprex announced its research collaborators will present three posters at the 2026 AACR Annual Meeting (April 17-22) featuring positive preclinical data on Reqorsa Gene Therapy (quaratusugene ozeplasmid, Quar Oze) in lung cancer models, including 79% tumor shrinkage in ALK+ NSCLC when combined with alectinib (vs. 60% for alectinib alone) and up to 67% complete tumor regression in Tusc2 KO mice. However, studies identified significant resistance with 50% of NSCLC cell lines and PDXOs showing primary resistance to TUSC2, and 20-30% of tumors resistant across models. Findings also highlight TROP2 low/PTEN high as potential resistance biomarkers and enhanced NK cell cytotoxicity.
- ·Poster 1: 'TROP2 and PTEN are biomarkers of primary resistance to TUSC2 gene therapy in non-small cell lung cancer'
- ·Poster 2: 'Quaratusugene ozeplasmid mediated TUSC2 upregulation in EML4-ALK bearing non-small cell lung carcinoma induces apoptosis and is highly effective in preclinical studies'
- ·Poster 3: 'Restoring TUSC2 function boosts NK cell cytotoxicity and antitumor immunity in vivo and in vitro'
- ·Quar Oze dose: 25 μg/mouse IV every three days; alectinib: 0.5 mg/kg (sensitive) or 15 mg/kg (resistant) oral daily
- ·Tumors started at ~100 mm³ for in vivo studies
- ·AACR location: San Diego, California
18-03-2026
Protalix BioTherapeutics reported FY2025 revenues of $51.8M, down 2% YoY from $53.0M, primarily due to a $6.8M decline in sales to Chiesi, though offset by increases to Pfizer and Fiocruz; net loss was $6.6M or $(0.08)/share versus $2.9M net income in 2024. The EC approval of the 2mg/kg E4W dosing for Elfabrio triggered a $25M milestone from Chiesi, boosting expected cash to ~$50M by April 2026. Management guides 2026 total revenues to $78-83M, including the milestone, with Elfabrio sales at $33-35M and Elelyso at $20-23M.
- ·Sales to Chiesi declined $6.8M to $22.5M in FY2025 due to lower net selling price and quantities sold.
- ·Sales to Pfizer increased $5.6M to $18.2M in FY2025 due to their manufacturing issues.
- ·Sales to Fiocruz increased $0.03M to $11.1M in FY2025.
- ·PRX-115 Phase 2 top-line results expected in H2 2027.
- ·Conference call held March 18, 2026 at 8:00 a.m. EDT.
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