Catalyst Watch #1
29 Actionable Event-Driven Setups
Scroll down to continue reading this week’s most actionable corporate events, along with quick pitches on previously flagged setups, available in HTML format. For all past setups and pitches, please refer to the PDF file at the end.
This Week’s Most Actionable Corporate Events
Ashford Hospitality Trust, Inc. (AHT) | Hotel & Resort REITs | $7.30 | $41.1mm
Cost Reductions: Remington, the company's largest property manager, implemented expense reduction moves expected to drive over $11mm in incremental Hotel EBITDA. Combined with other completed initiatives, they are projected to contribute over $30mm per year towards the $50mm target set under its "GRO AHT" strategy.
Avanos Medical, Inc. (AVNS) | Health Care Supplies | $14.67 | $674.9mm
Management Change: David Pacitti has been appointed CEO. He brings extensive healthcare industry experience, previously serving as President of Siemens Medical Solutions USA, Inc. and Head of the Americas for Siemens Healthineers (~$60bn mkt cap).
AXIL Brands, Inc. (AXIL) | Personal Care Products | $7.30 | $47.2mm
Strategic Update: Shifts focus to offline retail and international expansion as part of its 18-month marketing initiatives. Targeting a balanced revenue mix (30% retail, 30% online, 30% international) by the end of 2026.
Bridger Aerospace Group Holdings, Inc. (BAER) | Diversified Support Services | $1.37 | $74.3mm
Management Change: Sam Davis named President and CEO, replacing Timothy Sheehy, the founder of the company, who resigned to run for U.S. Senate in Montana. Sheehy ultimately won against three-term Democratic incumbent Jon Tester.
Black Diamond Therapeutics, Inc. (BDTX) | Biotechnology | $1.78 | $100.9mm
Licensing Agreement: Signed a licensing deal with Servier for the development and worldwide commercialization of BDTX-4933. Upfront $70mm payment, potential $710mm in development and commercial sales milestones, plus tiered royalties based on global net sales.
Bakkt Holdings, Inc. (BKKT) | Financial Exchanges & Data | $11.93 | $77.7mm
Strategic Partnership: Bank of America (~16-17% of loyalty revenue) and Webull (~74% of crypto services revenue) will not renew contracts. Appointed Akshay Naheta as co-CEO, former SoftBank executive, following a strategic partnership with his payments startup, Distributed Technologies Research.
Beeline Holdings, Inc. (BLNE) | Beverages | $1.97 | $12.0mm
Insider Buying: In response to requests from at least two directors who view the stock as undervalued, the Board approved a waiver allowing officers and directors to purchase shares. The CEO and a director bought ~$70K worth of stock. Additionally, launched two AI-powered technologies Bob 2.0 and MagicBlocks.
Barnwell Industries, Inc. (BRN) | Oil & Gas E&P | $1.68 | $10.05mm
Divestiture: Sold water drilling subsidiary for ~$1mm to focus on oil & gas. Ned L. Sherwood (~30% owner) continues takeover attempts, with the company claiming he tries to do so "without paying a premium to shareholders".
biote Corp. (BTMD) | Pharmaceuticals | $3.86 | $121.5mm
Insider Buying: Biote insiders, including the CEO and several board members, purchased ~260k shares. The chairman expressed confidence in CEO's "ability to make decisive and material changes at Biote to grow [their] business."
Creative Realities, Inc. (CREX) | Advertising | $2.04 | $21.3mm
Dispute Settlement: Settled dispute with Reflect Systems shareholders through a $3mm cash payment, a $4mm promissory note, and warrants. The settlement "provides financial flexibility and removes a significant burden from the company's shares."
Culp, Inc. (CULP) | Textiles | $5.37 | $67.4mm
Insider Buying: Aron R. English, founder of 22NW, further increased his stake with a ~$700K purchase. For context, 22NW is a major shareholder and previously signed a cooperation agreement with the company. As part of this, Alexander B. Jones, Vice President at 22NW, joined the board and its audit and compensation committees.