Catalyst Watch #16
This Week’s Most Actionable Press Releases, 8-K Filings, Earnings Reports & Call Transcripts
Catalyst Watch is now fully comprehensive, tracking all press releases, 8-K filings, earnings reports, and call transcripts across North America. Also, the next write-up drops this Friday. It covers a mathematically imminent growth inflection you won’t want to miss.
Scroll down to continue reading this week’s most actionable corporate events in HTML format. For all past setups, please refer to the PDF file at the end.
This Week’s Most Actionable Corporate Events
Abacus Global Management, Inc. (ABL) | Asset Management | $5.39 | $516.4mm
Business Update: Filed a lawsuit in Florida’s Ninth Circuit Court against Coventry, its largest competitor, and its chairman, Alan Buerger, alleging a years-long campaign to spread false and misleading information. The complaint links last month’s short report by Morpheus Research to this campaign, claiming Morpheus acted as a proxy for Coventry and Buerger in amplifying defamatory statements around the company’s valuation methodology, claims regulators and market makers had previously dismissed. The company is seeking hundreds of millions in damages from the harms to its reputation, its customer base, and its relationships with current and potential investors. Coventry has denied any connection to Morpheus and stated the lawsuit is meritless.
Ascent Industries Co. (ACNT) | Steel | $12.72 | $127.3mm
Asset Sale: Sold American Stainless Tubing (ASTI), its last remaining tubular operating asset, to First Tube, a subsidiary of Triple-S Steel Holdings, for $16mm in an all-cash deal. The divestiture completes the company’s transformation into a pure-play specialty chemicals platform, with management expecting the added capital to support reinvestment in innovation, commercial expansion, and targeted growth initiatives that enhance returns for shareholders.
Aeries Technology, Inc (AERT) | Research & Consulting Services | $1.13 | $51.8mm
Earnings Report: Reported core adj. EBITDA of $7.4mm in FY25, a 365% yoy increase, exceeding their guidance range of $6-7mm. The company has exited non-core geographies, including the Middle East, and fully realigned around its core North American market, where revenue grew 15% yoy to $65.5mm. Including non-core geographies, however, results show significant deterioration across the board. The company reiterated its FY26 guidance, expecting revenue between $74mm and $80mm and adj. EBITDA between $6mm and $8mm.
Astec Industries, Inc. (ASTE) | Heavy Construction Machinery | $42.60 | $974.1mm
Business Acquisition: Completed its $245mm cash acquisition of TerraSource on a cash-free, debt-free basis. The deal is expected to be immediately accretive to gross profit margins, adj. EBITDA margins, and EPS as aftermarket parts and service represent ~60% of TerraSource revenues and 80% of gross profit. Management targets ~$10mm in run-rate cost synergies by year two, primarily through procurement savings.
Astrana Health, Inc. (ASTH) | Health Care Services | $25.28 | $1,262.2mm
Business Acquisition: Completed the acquisition of Prospect Health for $708mm, down from the originally announced $745mm, reflecting disciplined capital deployment while maintaining full conviction in the asset’s value creation potential. Prospect is expected to contribute ~$1.2bn in annual revenue and $81mm in adj. EBITDA, consistent with prior expectations. The company also anticipates realizing $12-15mm in synergies over the next 12- 18 months. To reflect Prospect’s half-year contribution, the company updated its FY25 guidance to $3.1-3.3bn in total revenue and $215-225mm in adj. EBITDA. Post-close, net debt stands at ~$700mm, with management planning to reduce net leverage below 2.5x within 12-18 months.
Bally's Corporation (BALY) | Casinos & Gaming | $11.17 | $547.5mm
Divestiture: Sold its International Interactive business to Intralot in a cash-and-shares transaction valuing the business at an enterprise value of €2.7bn. As Intralot’s largest existing shareholder, the company is expected to become its majority owner post-transaction, while Intralot founder Sokratis Kokkalis will retain a significant equity stake. Completion is expected in 4Q25, with the company securing commitments for a $500mm secured debt facility, which, alongside cash proceeds, will be used to repay existing secured debt.
Bimergen Energy Corporation (BESS) | Renewable Energy | $7.25 | $37.3mm
Litigation Settlement: Announced the cancellation of 1,287,694 shares, representing ~25.1% of total shares outstanding prior to cancellation, following the favorable resolution of shareholder litigation which began in 2023. The company remains focused on advancing its near-term project pipeline in line with previously disclosed timelines. This development comes amid a particularly favorable energy storage investment environment, with the company positioned to address surging demand driven by the U.S. national energy emergency.