Catalyst Watch #7
30 Actionable Event-Driven Setups
After a packed week relocating to a Mediterranean island, Catalyst Watch #7 is now live. No further delays are expected in the near term. The next four-page write-up will follow in 10-15 days. The bar is higher than ever, and this company managed to clear it. A near-term catalyst, initially expected last week, is likely to be unveiled soon, hopefully after the write-up goes live.
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
Amplitech Group, Inc. (AMPG) | Communication Equipment | $1.91 | $37.5mm
Purchase Orders: Secured the largest set of purchase orders in company history, totaling $2mm, for its proprietary low noise amplifiers from a U.S. Fortune 500 company. This win follows the most prolific four-month order period in the company’s history, driving total backlog to ~$20mm, all scheduled for delivery within FY25 with meaningful contributions from all divisions.
Astec Industries, Inc. (ASTE) | Heavy Construction Machinery | $38.14 | $872.1mm
Asset Acquisitions: Announced it will acquire TerraSource Holdings for $245mm in cash, enhancing its material processing equipment operations. The pending acquisition aligns with its disciplined growth strategy by adding scale, improving its aftermarket parts mix, expanding margins and quality of earnings, and is expected to be accretive from day one.
Barnwell Industries Inc. (BRN) | Oil & Gas E&P | $1.34 | $13.5mm
Proxy Contest: Reiterated its willingness to engage in constructive, good-faith discussions with Ned Sherwood at any time, including now, to seek an amicable resolution to their proxy fight. In response, Ned Sherwood, a long-term and significant shareholder holding ~29.90% of the company’s outstanding shares, issued a letter to shareholders citing “a persistent lack of execution, a lack of accountability, and ultimately, a lack of shareholder returns.”
Castor Maritime Inc. (CTRM) | Marine Shipping | $2.25 | $21.7mm
Asset Sale: Completed the previously announced sale of the M/V Magic Callisto, a 2012-built Panamax bulk carrier vessel, by delivering the vessel to its new owner. In March, the company entered into two separate agreements for the sale of the M/V Magic Eclipse, a 2011-built Panamax bulk carrier vessel, and the M/V Magic Callisto for a combined price of $28.0mm.
Cycurion, Inc. (CYCU) | Information Technology Services | $0.46 | $14.5mm
New Contract: Awarded a $6mm contract by a major municipal transportation agency to deliver a wide range of professional consulting services. The contract represents an important step into the municipal transportation vertical, aligning with the company’s broader strategy to expand its footprint across the public sector services market.
Data I/O Corporation (DAIO) | Electronic Components | $2.39 | $22.1mm
New Order: Received the largest adapter order in the company’s history of more than 50 years, valued at ~$1mm. The order was placed by the European division of one of the world’s most prominent electronics distributors and is expected to be fulfilled by the end of September 2025. The distribution channel market has been one of the company's targeted areas for customer expansion and revenue diversification.
electroCore Inc. (ECOR) | Medical Devices | $6.79 | $48.8mm
Merger Completion: Completed the previously announced merger with NeuroMetrix, positioning itself as a diversified, commercial-scale player in non-invasive health and wellness treatments. The acquisition expands the company’s portfolio of non-invasive bioelectronic therapies, strengthens its commercial reach, particularly within the VA Hospital System, and is expected to meaningfully increase its addressable market.
Euroseas Ltd. (ESEA) | Marine Shipping | $33.85 | $238.6mm
Strategic Alternatives: Initiated a comprehensive review of strategic alternatives to maximize shareholder value, including, among other possibilities, a potential sale of all or part of the company. The company has a cash balance of ~$13mm, no debt, and two vessels employed under lucrative charters through most of their remaining useful life.
Spirit Aviation Holdings, Inc. (FLYY) | Airlines | $7.19 | $115.5mm
Bankruptcy Emergence: Begun trading on NYSE American after emerging from bankruptcy in March. The company was delisted in November after filing for a Chapter 11 bankruptcy process. Now, it is gearing up for the summer travel season with a new CEO and significantly less debt, planning to move away from its no-frills image and rebrand itself as a premium airline, after years of mounting losses, while remaining focused on returning to profitability.