Catalyst Watch #11
28 Actionable Event-Driven Setups
Last week, STRM, profiled in August, announced it is being acquired by MDaudit at a 138% premium, while NURS.V, the most recent pick, reported 30%+ growth from its legacy verticals and secured "new customers for VSDHOne, positioning [it] strongly to hit [its] year-end goals with the number of orders."
The password-protected, auto-synced Notion database of past Catalyst Watch entries is nearly complete, with just two issues left to migrate. Once finalized, it will be shared via the chat feature and/or alongside Catalyst Watch #12 at the latest. The next write-up will follow shortly, covering a left-for-dead name that’s completed a 180° shift into a high-growth model the market hasn’t yet priced in.
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
Ayr Wellness Inc. (AYRW.F) | Pharmaceuticals | $0.11 | $13.3mm
Strategic Alternatives: Announced that it has been conducting a strategic review in light of upcoming payment obligations to its creditors and its commitment to executing its strategic plan. As part of this process, it has entered into negotiations with a committee representing over 50% of its outstanding senior secured notes due late 2026. These discussions form part of a broader review, with the company continuing to actively assess other strategic alternatives.
Bel Fuse Inc. (BELF.A) | Electronic Components | $63.51 | $913.1mm
Management Change: Announced that CFO Farouq Tuweiq has succeeded Dan Bernstein as CEO. Bernstein, who led the company for over two decades as President and CEO, will transition to Chairman of the Board. Over the past four years, Farouq, whose background is in investment banking, finance, and strategic leadership, has been instrumental in transforming the company's corporate strategy and financial discipline, both of which have been strong drivers of its record performance.
Bion Environmental Technologies, Inc. (BNET) | Pollution & Treatment Controls | $0.19 | $11.0mm
New Agreement: Received initial offtake letters of interest (LOIs) for its OMRI Listed 10-0-0 liquid nitrogen fertilizer from two of the largest organic fertilizer distributors on the West Coast. In detail, Perfect Blend and Yield RMG executed LOIs for 50,000 and 100,000 gallons, respectively, at $7.00 per pound, FOB at the company’s initial fertilizer production facility. Early interest in its technology from engineering and construction firms operating in the biogas industry has been strong, with additional LOIs and project updates expected in the coming weeks.
Bridger Aerospace Group Holdings, Inc. (BAER) | Diversified Support Services | $1.65 | $90.3mm
Asset Sale: Signed a Purchase and Sale Agreement for a sale-leaseback of its Bozeman Yellowstone International Airport campus in Belgrade, Montana, for at least $46mm. Net proceeds will be used to materially reduce debt and lower ongoing cash interest. The deal is expected to close in 3Q25, at which time the company will enter a ten-year lease with SR Aviation Infrastructure for continued use of the hangar and office headquarter facilities as a base for its aerial firefighting operations.
Cemtrex, Inc. (CETX) | Diversified Support Services | $0.91 | $2.8mm
New Contract: Awarded a $1.84mm contract by the City of Lancaster to upgrade critical infrastructure at its Advanced Wastewater Treatment Plant (AWWTP). The project is expected to be completed within one year of commencement during the City’s 2025–2026 fiscal year. With federal and state funding now flowing into the wastewater treatment market, municipalities are accelerating investments, and the company is well-positioned to capitalize on this wave of critical infrastructure renewal.
ClearSign Technologies Corporation (CLIR) | Pollution & Treatment Controls | $0.68 | $35.6mm
Cooperation Agreement: Entered into a cooperation agreement with Richard D. Clarkson and Anthony DiGiandomenico, under which the company appointed Louis J. Basenese and DiGiandomenico to the Board. In return, Clarkson and DiGiandomenico agreed to withdraw plans to nominate a director at the 2025 annual meeting or pursue any other activist campaign.
Graham Corporation (GHM) | Specialty Industrial Machinery | $39.43 | $429.9mm
New Contract: Awarded a $136.5mm follow-on contract to support the U.S. Navy's Virginia Class Submarine program, with a performance period running from April 2025 through February 2034. ~$50mm in backlog from the award was recognized during 4Q25 (FYE March). The company’s long-standing partnership with HII’s Newport News Shipbuilding division has led to significant investments in machinery and facilities to ensure optimal delivery of mission-critical systems.
Conduent Incorporated (CNDT) | Information Technology Services | $2.24 | $362.5mm
Stock Buyback: Authorized a three-year share repurchase program of up to $50mm of the company’s common stock. Repurchases will be funded from cash on hand.