ASC CORPORATE ACTIONS CALENDARAdvanced Securities Consulting LLC | June 29, 2026 | FULL EDITIONPROPRIETARY & CONFIDENTIAL

Equity Financial Engineering

Active U.S. Corporates > $1 Bn Deal / EV

June 29, 2026 Edition

140 Active Situations Published | 150 Total Tracked | Sorted by Tier, then Key Date, then Acquirer Ticker

Coverage centers on U.S.-listed situations at or above ~$1 Bn; smaller, private, foreign, and reported/unconfirmed counterparties are retained where a specific securities-lending mechanic (float scarcity, acquirer-leg borrow, supply shock) makes them material.

140	6	47	23	64
TOTAL ACTIVE	ALPHA	EDGE	SQUEEZE	MANDATORY

ALPHA: Election / Proration | EDGE: Collar / CVR / Contested / Reg Binary / MoE | SQUEEZE: IPO / Lockup / Offering / Convert / PIPE | MANDATORY: All-Cash or Stock w/o Edge

Priority Rating (0 to 100) = Time Urgency + Recall Force + Float/Supply + Optionality Edge. PASS-tier deals suppressed from published view. Stale specific key dates rolled forward to next milestone or removed per Active Entry Filter Rule.

SECTION 1 | Active Situations | Sorted by Tier, then Key Date, then Acquirer Ticker

PRIORITY	TIER	KEY DATE	ACQ TKR	TGT TKR	ACTION TYPE	DEAL VALUE	KEY EVENT
74	ALPHA	Jun 29, 2026 (Election Deadline)	QXO	BLD	Cash/Stock Merger (Proration)	~$17B	Election Deadline Jun 29 (Verified PR/S-4/A) │ $505 Cash or 20.200 QXO │ Dual Special Meetings Jun 29
72	ALPHA	Q2-Q3 2026	IONQ	SKYT	Cash/Stock Merger	$1.8B	Vote Approved May 8 │ FTC Second Request Pending
78	ALPHA	Q3 2026	UCB	Peach State	Cash/Stock Merger	~$100.8M	50/50 Mandatory Proration │ Regulatory + Vote Pending
70	ALPHA	H2 2026	REAX	RMAX	Cash/Stock Election Merger	~$880M EV	Definitive Agreement │ Vote/HSR Pending
54	ALPHA	2027	AMZN	GSAT	Cash/Stock Election Merger	~$11.6B	Close 2027 (FCC + Intl Regulatory)
56	ALPHA	TBD	RUMORED	BF.B	Reported Competing Bids	~$13.5B-$15B (Reported)	No Definitive Agreement │ Reported Only
62	EDGE	Q2 2026	CCL	CUK	Scheme of Arr.	~$4.0B	NYSE Delist (Scheme Effective)
68	EDGE	Q2 2026	CVBF	HTBK	Stock Merger	$800M	Expected Closing
62	EDGE	Mid-2026	BKR	GTLS	Cash Merger	$13.6B	Expected Close │ All Regulatory Conditions Pending
68	EDGE	Mid-2026	P/E	JHG	Take-Private	~$7.4B	Shareholder Vote (Date TBD)
62	EDGE	Jun 30, 2026	BCO	NATL	Cash/Stock Merger	~$6.6B (~$9.2B incl. debt)	Dual Special Meetings Jun 30 (Verified S-4/A, DEFM14A) │ $30.00 + 0.1574 BCO
55	EDGE	By Jun 30, 2026	P/E	EA	LBO (Cash)	$55.0B	Closing Window Active (HSR Cleared Feb 9; $8B bond financing placed)
68	EDGE	~Jul 1, 2026	PB	STEL	Cash/Stock Merger	$2.0B	Vote Approved May 27 │ Await Close (~Jul 1)
82	EDGE	Jul 10, 2026	PRIVATE	LSTA	Cash Tender + CVR	~$36.7M + CVR	Tender Commenced Jun 10 │ $4.00 Cash + CVR │ Expires Jul 10
48	EDGE	Summer 2026	MoE	CRBG	All-Stock Merger	~$22B	Shareholder Vote
54	EDGE	Jul 27, 2026 (Supplemental Info Due)	UNP	NSC	Regulatory Review	$85.0B	STB Accepted Revised Application May 28 │ Held in Abeyance │ Supplemental Info Due Jul 27
74	EDGE	Q3 2026	ESQ	Signature	All-Stock Merger	~$348.4M	S-4 Filed Apr 15
62	EDGE	Q2-Q3 2026	PRIVATE	RLYB	Reverse Merger	~$505.5M Financing	S-4/A Filed Apr 24 │ Vote / Close Pending
56	EDGE	Q3 2026	PSA	NSA	All-Stock Merger	~$10.5B	NSA Shareholder Vote (TBD)
68	EDGE	Q3 2026	USAR	USAR	Acquisition (Cash + Stock)	~$2.8B	Definitive Agreement │ Close Pending
58	EDGE	H2 2026	ACLS	VECO	Stock Merger	$4.4B	China SAMR Approval
64	EDGE	H2 2026	BBBY	FTHM	Stock Merger	~$53.4M	Merger Agreement Jun 16 │ 0.2236 BBBY per FTHM │ Vote / S-4 Pending
60	EDGE	H2 2026	BKH	NWE	All-Stock Merger	All-stock	Regulatory Approvals (Vote Approved Apr 2)
56	EDGE	H2 2026 (EU Clearance Pending)	BSX	PEN	Cash/Stock Merger	~$14.5B	Vote APPROVED May 6 │ HSR Expired Mar 16 │ EU Clearance Sole Remaining Gate
58	EDGE	H2 2026 (FTC Second Request)	CTAS	UNF	Cash/Stock Merger	$5.5B	UNF Vote APPROVED Jun 11 (>99%) │ FTC Second Request Jun 11 │ HSR Extended
64	EDGE	H2 2026	HOMB	MCBI	All-Stock Acquisition	~$154.8M	S-4/A Filed │ Shareholder Vote Pending
58	EDGE	H2 2026	HOS	HLX	Stock Merger	~$2B Combined	HLX Vote / HSR Pending
56	EDGE	H2 2026	KMB	KVUE	Cash/Stock Merger	~$48.7B EV	Antitrust Review Pending
70	EDGE	H2 2026	LGND	XOMA	Cash Acquisition	~$739M	Definitive Agreement │ Vote/HSR Pending
60	EDGE	H2 2026	LIEN	REFI	Stock Merger (NAV-for-NAV)	~$364M portfolio	Definitive Agreement Jun 18 │ NAV-for-NAV │ REFI elects BDC, merges into LIEN
66	EDGE	H2 2026	MCFT	MPX	Cash/Stock Merger	~$232.2M	S-4 Filed │ Shareholder Vote Pending
56	EDGE	H2 2026 (Cleared; Awaiting Close)	MoE	GETY	Stock Merger	$3.7B	CMA Phase 2 Final Report May 15 │ Conditionally Cleared │ Path to H2 Close
58	EDGE	H2 2026	RIG	VAL	Stock Merger	$5.8B	Dual Shareholder Votes (Bermuda Scheme)
70	EDGE	H2 2026	SOUN	LPSN	All-Stock Merger + Notes Restructuring	~$43M equity / ~$250M EV	Definitive Apr 21 │ All-Stock Collar / S-4 Pending
58	EDGE	H2 2026 (S-4 Pending)	WFRD	NCSM	Cash/Stock Election Merger	~0.463x WFRD blended (≤19.99% cash)	Definitive Agreement Jun 1 │ Stock or Stock/Cash Election │ S-4 Pending
56	EDGE	Late 2026	P/E	AES	Take-Private	~$10.7B equity / $33.4B EV	Regulatory / Shareholder Vote
49	EDGE	Q4 2026	SPINOFF	CTVA	Spin-Off	~$57B parent mkt cap	Spin-Off Separation │ Form 10 Pending
46	EDGE	Q1 2027 Close (Per Latest Guidance)	MoE	WTRG	All-Stock Merger	TBD (combined ~$50B+ EV)	Ohio PUC Approval Received May 14 │ Other State Approvals Pending
54	EDGE	1H 2027 (S-4 / Proxy Pending)	FOXA	ROKU	Cash/Stock Merger	~$22B EV (~$25B equity)	Definitive Agreement Jun 15 │ $96.00 Cash + 0.9693 FOXA per ROKU │ S-4 / Proxy Pending
52	EDGE	1H 2027	OLN	HUN	Stock Merger (MoE)	~$12.5B	Definitive MoE Jun 15 │ 0.5476 OLN per HUN │ S-4 / Vote Pending
49	EDGE	Mid-2027	MoE	MKC	Reverse Morris Trust	~$44.8B	Regulatory / Shareholder Approvals
53	EDGE	Before end-2027	SPINOFF	ABF	Dividend Demerger (Primark Separation)	N/A (dividend demerger)	Primark Spin-Off from FoodCo │ Watchlist
54	EDGE	H2 2027 (Long Pendency)	INGR	TATE	Recommended Cash Acquisition (UK Scheme)	GBP 2.7B (~$3.6B) equity / ~$5.0B EV	Recommended Offer Jun 8 │ UK Scheme of Arrangement │ 16.8% Irrevocable
46	EDGE	TBD (Firm Offer Pending)	BHP	AAL	Reported All-Share Hostile Bid	~$39B (reported)	REPORTED │ Monitor for UK Takeover Code Rule 2.7 Firm Offer
50	EDGE	TBD	MoE	LCII	Reported MoE Discussions	~$6.5B combined (Reported)	MoE Discussions Confirmed │ No Agreement
48	EDGE	12 to 18 Months (Multi-Agency Approvals)	NEE	D	All-Stock Merger	~$66B equity (combined ~$400B+ EV)	Definitive Agreement May 18 │ S-4 Joint Proxy Pending │ FERC/NRC/State PUC Review
66	EDGE	TBD (Vote Pending)	P/E	AVNS	Take-Private	~$1.272B EV	Annual Meeting Postponed │ HSR + Vote Pending
54	EDGE	TBD	PEBO	CZNL	Cash/Stock Merger	TBD (terms pending)	8-K Filed │ Terms in Exhibit 99.4 / Merger Agreement
46	EDGE	TBD	PSH	UMG.AS	Reported Unsolicited Offer	~$64-65B (~EUR 55B)	REPORTED Unsolicited Proposal │ UMG Board Rejected; Bolloré Opposition
68	EDGE	Post-Acceptance (Settlement/Delist)	RUM	Northern	Exchange Offer (Cross-Border)	TBD (~$1.3B est.)	Additional Acceptance Period Ended Jun 1 │ Settlement / Northern Data Delisting Pending
62	EDGE	TBD	TBD	SHCO	Take-Private	TBD	Take-Private │ Delisting Pending
60	EDGE	Mid-2027 (Long Pendency)	ON	SYNA	Stock Merger	~$7.0B EV	Definitive Jun 25 │ All-Stock 1.350 ON per SYNA │ ~19% Premium │ Close Mid-2027
46	EDGE	TBD (Proposal Rejected)	PLD	SEGRO	Stock Merger (Proposed)	~£12.6B	Rejected All-Share Proposal │ 0.084 PLD per SEGRO │ ~925p (~£12.6B)
70	SQUEEZE	Jun 29, 2026 (Distribution Effective)	SPINOFF	HONA	Spin-Off	N/A (Aerospace separation)	Board Approved + Record Date Jun 15 │ Distribution Jun 29 │ HON 1-for-2 Reverse Split Jun 29
67	SQUEEZE	Aug 2, 2026	ISSUER	MANE	Secondary Offering Closed + IPO Lock-Up Monitor	~$384.4M (3,843,790 sh @ $100.00)	IPO Lock-Up Expiry Aug 2 (~20M shares) │ Primary Supply Event
48	SQUEEZE	H2 2026	DESPAC	SPKL	De-SPAC Business Combination	$600M pre / ~$752M EV	BCA Jun 11 │ ZincFive Battery │ S-4 Framework │ Expected Nasdaq ZFIV
51	SQUEEZE	H2 2026 (S-4 / Nasdaq Pending)	SUNE	Suniva	Reverse Merger (Float Reset)	~$2.26/sh implied	Definitive Agreement Jun 5 │ Suniva ~98.2% / SUNE ~1.8% │ S-4 + Nasdaq Listing Pending
50	SQUEEZE	Q4 2026 (Vote Pending)	DESPAC	IPFX	De-SPAC Business Combination	~$1.2B (post-deal equity)	Business Combination Agreement Jun 8 │ $300M Convertible PIPE │ Expected Nasdaq QSPC
50	SQUEEZE	Q4 2026	DESPAC	SVAQ	De-SPAC Business Combination	~$3B EV	BCA Jun 17 │ EigenQ Quantum │ S-4 Pending │ Expected Nasdaq EIGQ
50	SQUEEZE	Q4 2026	DESPAC	GRAF	De-SPAC Business Combination	~$290M pre-money	BCA Jun 12 │ BIG3 Basketball │ Extension Vote by Jun 27 │ Expected NYSE TONT
55	SQUEEZE	TBD (S-1 Effectiveness)	IPO	LCLN	Proposed IPO	TBD	S-1 Filed Apr 24 │ NYSE Listing Pending
53	SQUEEZE	Tranche 1 (Post-Q2 Earnings) │ 180-Day Dec 8	IPO	SPCX	Proposed IPO	~$75B raise (~$1.77T val.)	Listed Nasdaq Jun 12 ($135 -> ~$161 close) │ First Lockup ~Aug (Earnings-Triggered) │ 180-Day Expiry Dec 8, 2026
55	SQUEEZE	TBD (Pricing/Settlement Pending)	ISSUER	AEIS	Convertible Note Issuance	$1.0B	Convert Announced May 13 │ Pricing and Settlement Pending
55	SQUEEZE	Ongoing	ISSUER	AMKR	Convertible Note Offering \| Convert Arb	~$1.0B (base) + $150M option	Convert Settled May 5 │ Delta-Hedge Borrow Active
55	SQUEEZE	Next Tranche TBD	ISSUER	AVAV	Lock-Up Release \| BlueHalo Acquisition Consideration	N/A (17.4M shares across tranches)	First Tranche Released May 1 │ Next Tranche Pending
42	SQUEEZE	Ongoing (ATM Sales Discretionary)	ISSUER	ED	ATM Equity Program	$2.0B ATM Authorization	$2.0B ATM Program Announced May 8 │ Gradual Supply
54	SQUEEZE	TBD (S-1 Effectiveness)	ISSUER	IONETIX	PIPE + Pending Resale S-1	>$30M PIPE	PIPE Closed │ Resale S-1 Pending
74	SQUEEZE	Ongoing	ISSUER	IREN	Convertible Note Issuance	$2.6B	Convert Settled May 14 │ Delta-Hedge Borrow Ongoing
54	SQUEEZE	Post-Effectiveness	ISSUER	ONDS	Resale Prospectus Supplement	2.33M shares (resale)	Resale Registration │ World View Merger Consideration
55	SQUEEZE	Ongoing	ISSUER	ORA	Convertible Note Issuance	$1.0B	Delta-Hedge Borrow Demand
55	SQUEEZE	TBD (Pricing/Closing)	ISSUER	SHAZ	Convertible Note Issuance	$350M	Convertible Note Offering Announced
54	SQUEEZE	TBD (S-1 Effectiveness)	ISSUER	SPIR	Resale Registration	5M Shares (~$70M PIPE @$14.00)	Form S-1 Filed Apr 23 │ Effectiveness Pending
38	SQUEEZE	TBD (REPORTED)	ISSUER	STR-LK	Reported Accelerated Lock-Up Release	N/A (~45M sh reported)	REPORTED Accelerated Unlock (~15% of Employee Pool) │ Unverified; Issuer Not Confirmed Public
72	SQUEEZE	Jul 1, 2026 (Regular-Way)	SPINOFF	MBGL	Spin-Off	N/A (Mobility separation)	Record Jun 15 │ MBGL WI Jun 26-30 │ Regular-Way MBGL Jul 1 (12:01am NY)
58	SQUEEZE	~Jun 2027 (Completion ~1 yr)	SPINOFF	CMCSA	Spin-Off	N/A (Media separation)	Announced Jun 29 │ Tax-Free Spin of NBCUniversal + Sky │ ~1 Year to Complete
50	SQUEEZE	TBD (Vote / Redemption)	DESPAC	CCXI	De-SPAC Business Combination	~$2.5B pre-money	Definitive De-SPAC │ ~$2.5B Pre-Money │ PIPE + Warrants │ Post-Close AGLT
30	MANDATORY	H1 2026	APLD	EKSO	Reverse Merger / Business Combination	TBD	S-4 Pending │ ChronoScale Combination
52	MANDATORY	Q2 2026	DESPAC	LOKV	De-SPAC	$800M ($746M EV)	De-SPAC Close / Redemption Deadline
58	MANDATORY	Q2 2026	P/E	ALEX	Take-Private	~$2.3B	Vote Approved Mar 9 │ Await Close
69	MANDATORY	~Q2 2026	P/E	ELSE	Take-Private	~$26.7M	Take-Private │ Rapid Closing Window (~10 biz days)
62	MANDATORY	Q2 2026	PRIVATE	DSP	Bolt-on Acquisition	$22.5M + 1.66M sh	Bolt-on Close Pending
69	MANDATORY	Q2 2026	PRIVATE	FARM	Take-Private	~$28M	Shareholder Vote / Closing
62	MANDATORY	Q2 2026	PRIVATE	TDG	Cash Acquisition + Buyback	$960M acq + $800M buyback	Stellant Acquisition Close Pending (Financing Closed Apr 17)
50	MANDATORY	Q2 2026	PSKY	WBD	Cash Merger	~$110-111B EV	Vote Held Apr 23 │ Await Close (PSKY Cash Acquisition)
44	MANDATORY	TBD 2026	DESPAC	MACI	De-SPAC Business Combination	~$180M	8-K Filed │ Business Combination Announced
56	MANDATORY	Mid-2026	PRIVATE	HIMS	Acquisition	$1.15B	Regulatory Approvals / Closing
58	MANDATORY	Jul 10, 2026 (Tender Expiry)	DSX	GNK	Cash Tender (Unsolicited)	~$1.0B+ (offer)	Tender LIVE │ $24.80 All-Cash │ Extended to Jul 10 (28.4% Tendered as of Jun 26) │ $27.34 Board Proposal Standing
64	MANDATORY	Jun 30, 2026 (Tender Expiry)	ISSUER	OPTU	Issuer-Affiliate Cash Tender + Restructuring	~$300M tender (120M sh @ $2.50)	Tender Launched ~May 29 │ $2.50/sh up to 120M Class A (~42.5%) │ Expires Jun 30 │ CSC Deleveraging
30	MANDATORY	Aug 3, 2026	ADSK	ADSK-MX	Acquisition (Private Target)	~$3.6B	Definitive Agreement May 28 │ All-Cash │ Close This Fiscal Year
58	MANDATORY	Q3 2026	FOREIGN	TBRG	Reported Acquisition	~$600M (Reported)	DEFINITIVE │ All-Cash $26.25 / Vote/HSR Pending
57	MANDATORY	Jul 14, 2026 (Tender Expiry)	GSK	NUVL	Cash Tender + Merger (251(h))	$10.6B	Tender Commenced Jun 24 │ $124.00 Cash │ Expires Jul 14 (251(h) Back-End Merger) │ Outside Date Dec 9
36	MANDATORY	Q3 2026	INCY	Vega	Acquisition (Private Target)	$1.25B upfront (up to $2.0B)	Definitive Agreement Jun 8 │ Equity/Stock Purchase │ HSR Pending
44	MANDATORY	Q3 2026	ISSUER	NFE	RSA / Company Split	~$5.7B → $527.5M	UK Restructuring Plan (April)
58	MANDATORY	Q3 2026	LPRO	LPRO	Cash Tender	~$3.15/sh	Merger Agreement Jun 15 │ $3.15 Cash Tender │ Tender Commenced Jun 24; Expires Jul 14
54	MANDATORY	Q2-Q3 2026	OWL	SILA	Take-Private (REIT)	~$2.4B	All-Cash REIT Take-Private │ Vote Pending
61	MANDATORY	Q3 2026	P/E	WSR	Take-Private	~$1.7B	Shareholder Vote / Closing
58	MANDATORY	Q3 2026	UHS	TALK	Cash Merger	$835M	Shareholder Vote
60	MANDATORY	Aug 2026 (Expected Close)	PRIVATE	TWO	Cash Merger	$12.00/sh (~$1.5B est.)	Vote Process Concluded Jun 11 │ CCM $12.00 Cash │ 46/53 Approvals; HSR Early Term │ Close ~Aug 2026
30	MANDATORY	H2 2026	ADI	ADI-EMP	Acquisition (Private Target)	~$1.5B	Definitive Agreement May 19 │ All-Cash │ Close H2 2026 (HSR)
54	MANDATORY	H2 2026	BRC	HON	Asset Sale (PSS Divestiture)	$1.4B	Asset Sale │ No Ride-Through Impact on HON
54	MANDATORY	H2 2026	BRK.B	TMHC	Cash Merger	~$8.5B EV (~$6.8B equity)	Definitive Agreement │ Vote/HSR Pending
50	MANDATORY	H2 2026	DHR	MASI	Cash Merger	$9.9B	Shareholder Vote
52	MANDATORY	2H 2026	ENVA	GRASS	Cash/Stock Acquisition	$400M	Expected Closing
54	MANDATORY	H2 2026	FOREIGN	BKR	Asset Divestiture	~$1.45B	Expected Close │ Regulatory Pending
46	MANDATORY	H2 2026	FOREIGN	OGN	Cash Merger	~$11.75B	Definitive Agreement Apr 26 │ Vote/HSR Pending
54	MANDATORY	H2 2026	FOREIGN	OLPX	Take-Private	~$1.4B	DEFM14C Mailed May 4 │ Vote/Close Pending
54	MANDATORY	H2 2026	ISSUER	MGA	Asset Divestiture	~$1.1B (2025 sales)	Lighting/Rooftop Systems Sale │ PE Buyers
54	MANDATORY	H2 2026	ONTO	ONTO	Minority Stake Acquisition	~$710M	Minority Stake │ HSR Pending
50	MANDATORY	H2 2026	P/E	BHF	Take-Private	$4.1B	Insurance Regulatory Review
50	MANDATORY	H2 2026	P/E	CCO	Take-Private	$6.2B	Go-Shop Ended Mar 26 │ Vote/HSR Pending
58	MANDATORY	H2 2026	P/E	CZR	Cash Merger	~$17.6B EV	Definitive All-Cash │ Go-Shop; Vote/HSR Pending
54	MANDATORY	H2 2026	P/E	EEX	Take-Private	~$1.5B EV (~$350M equity)	Written Consent Executed by Onex (>90%) │ No Vote Required
46	MANDATORY	H2 2026	P/E	TXNM	Take-Private	$11.5B	NRC / NMPRC Approvals
54	MANDATORY	H2 2026	PH	CIR	Asset Sale (Aerospace Divestiture)	~$2.55B	Definitive Agreement │ Close Pending
50	MANDATORY	H2 2026	PRIVATE	AMRX	Acquisition (Cash + Equity)	$750M + up to $350M	Definitive Agreement Apr 22 │ AMRX Vote/HSR Pending
42	MANDATORY	H2 2026	SHEL	ARX	Cross-Border Acquirer	~$16.4B EV	Shareholder/Court/Regulatory Approvals
30	MANDATORY	Q4 2026	MDA	BCT	Acquisition (Private Target / Divestiture)	~$620M (US)	Definitive Agreement Jun 19 │ All-Cash │ Carve-out from RTX │ CFIUS
20	MANDATORY	Q4 2026	MSI	D-Fend	Acquisition (Private Target)	$1.5B	Definitive Agreement Jun 1 │ All-Cash │ Close Expected Q4 2026
46	MANDATORY	H1 2027	TXN	SLAB	Cash Merger	$7.5B	SLAB Vote Approved Apr 30 │ Awaiting Regulatory Clearance (HSR + Foreign)
28	MANDATORY	Q4 CRM FY2027	CRM	Fin	Acquisition (Private Target)	~$3.6B	Definitive Agreement Jun 15 │ All-Cash │ Close Q4 Salesforce FY2027
32	MANDATORY	Q3 FY2027	PRIVATE	SYY	Cash/Stock Acquisition	$29.1B	Expected Closing
32	MANDATORY	Ongoing (Through Jun 30, 2029)	ISSUER	DVN	Share Repurchase Authorization + Execution Window	$8.0B	$8B Buyback Authorized May 7 │ Largest in Coverage Universe
50	MANDATORY	Close / BXBL Relisting Pending	DESPAC	FGMC	De-SPAC Business Combination	~$3.5B (BOXABL implied)	Vote APPROVED Jun 9 │ Awaiting Close + Rename/Relist to BXBL
36	MANDATORY	TBD (Revised Close)	FSUN	HMST	Amended Merger Agreement \| Ratio Cut	N/A (terms amended)	Amended Merger Agreement Filed │ Exchange Ratio Cut to 0.3867
32	MANDATORY	Ongoing (buyback execution)	ISSUER	CCI	Asset Divestitures Closed + Share Repurchase	~$8.5B divestitures; $1.0B buyback auth.	Divestitures Closed May 1 │ $1.0B Buyback Authorized; Towers-Only REIT
54	MANDATORY	TBD (Final Pricing)	ISSUER	SCHL	Modified Dutch Auction Tender	$200M	Final Clearing Price Pending │ Tender Expired Apr 20
32	MANDATORY	TBD (Execution Pending)	ISSUER	SNDK	Share Repurchase Authorization	$6.0B authorization	$6.0B Buyback Authorized │ Execution Method TBD; Monitor for ASR Tranche
18	MANDATORY	TBD	JNJ	Firefly	Acquisition (Private Target)	$1.0B	Definitive Agreement Jun 8 │ All-Cash │ Close Expected Later 2026
60	MANDATORY	Post-Tender (Settlement + Buyback)	KKR	FSK	Cash Tender (Issuer-Related) + Convert Pref + Buyback	$150M Tender + $150M Conv. Pref. + $300M Buyback Auth.	Tender Expired ~Jun 9 │ Settlement / $300M Buyback Execution Pending
54	MANDATORY	Settlement / Delisting Pending	MGMT	FORA	Cash Tender (Mgmt-Led)	~$68M	Tender Expired May 14 │ Second-Step Merger / Delisting Pending
30	MANDATORY	TBD	NEE	CALIBER	Acquisition + JV (Reported)	~$1.3B	REPORTED │ Caliber Acquisition + Quantum JV (Reuters)
50	MANDATORY	TBD	RUMORED	PZZA	Reported Take-Private	~$1.5B	No Definitive Filing │ Monitor
30	MANDATORY	TBD (REPORTED)	SPINOFF	MMM-CA	Reported Spin-Off (Consumer Adhesives)	~$5.5B (Reported)	REPORTED Consumer-Adhesives Spin-Off │ Unverified; Not Found in Primary Filings
46	MANDATORY	TBD (Pending Definitive Agreement)	TBD	KW	Take-Private (Bond-Financed)	TBD (Pending Definitive Agreement)	Bond Tender Tied to Take-Private Financing │ Acquirer TBD
36	MANDATORY		NVDA	MRVL	Strategic Investment	$2B (NVDA stake)	NVDA $2B Investment Confirmed
58	MANDATORY	Q3 2026 (Close)	ABBV	APGE	Acquisition	~$10.9B equity	Definitive Jun 22 │ All-Cash $135.11 │ Vote + Regulatory Pending │ Close Q3 2026
54	MANDATORY	TBD (HSR / Vote)	FOREIGN	TECH	Acquisition	~$11.3B EV	Definitive Jun 25 │ All-Cash $73.00 │ ~$11.3B EV │ Vote + Regulatory Pending
52	MANDATORY	H2 2026 (Vote / Regulatory)	CRH	ACA	Acquisition	~$8.5B EV	Announced Jun 22 │ All-Cash $150.00 │ ~$8.5B EV │ Vote + Regulatory Pending
30	MANDATORY	TBD (HSR / Close)	IPSN	Kartos	Acquisition (Private Target)	~$1.75B total potential	Definitive Private-Target │ $450M Upfront + up to $1.3B Milestones
55	MANDATORY	Jun 30, 2026 (Effective)	ISSUER	ALIT	Reverse Split	N/A	Announced Jun 18 │ Effective Jun 30 │ Split-Adjusted Trading Jul 1

PRIORITY

TIER

KEY DATE

ACQ TKR

TGT TKR

ACTION TYPE

DEAL VALUE

KEY EVENT

ALPHA

Jun 29, 2026 (Election Deadline)

QXO

BLD

Cash/Stock Merger (Proration)

~$17B

Election Deadline Jun 29 (Verified PR/S-4/A) │ $505 Cash or 20.200 QXO │ Dual Special Meetings Jun 29

ALPHA

Q2-Q3 2026

IONQ

SKYT

Cash/Stock Merger

$1.8B

Vote Approved May 8 │ FTC Second Request Pending

ALPHA

Q3 2026

UCB

Peach State

Cash/Stock Merger

~$100.8M

50/50 Mandatory Proration │ Regulatory + Vote Pending

ALPHA

H2 2026

REAX

RMAX

Cash/Stock Election Merger

~$880M EV

Definitive Agreement │ Vote/HSR Pending

ALPHA

2027

AMZN

GSAT

Cash/Stock Election Merger

~$11.6B

Close 2027 (FCC + Intl Regulatory)

ALPHA

TBD

RUMORED

BF.B

Reported Competing Bids

~$13.5B-$15B (Reported)

No Definitive Agreement │ Reported Only

EDGE

Q2 2026

CCL

CUK

Scheme of Arr.

~$4.0B

NYSE Delist (Scheme Effective)

EDGE

Q2 2026

CVBF

HTBK

Stock Merger

$800M

Expected Closing

EDGE

Mid-2026

BKR

GTLS

Cash Merger

$13.6B

Expected Close │ All Regulatory Conditions Pending

EDGE

Mid-2026

P/E

JHG

Take-Private

~$7.4B

Shareholder Vote (Date TBD)

EDGE

Jun 30, 2026

BCO

NATL

Cash/Stock Merger

~$6.6B (~$9.2B incl. debt)

Dual Special Meetings Jun 30 (Verified S-4/A, DEFM14A) │ $30.00 + 0.1574 BCO

EDGE

By Jun 30, 2026

P/E

LBO (Cash)

$55.0B

Closing Window Active (HSR Cleared Feb 9; $8B bond financing placed)

EDGE

~Jul 1, 2026

STEL

Cash/Stock Merger

$2.0B

Vote Approved May 27 │ Await Close (~Jul 1)

EDGE

Jul 10, 2026

PRIVATE

LSTA

Cash Tender + CVR

~$36.7M + CVR

Tender Commenced Jun 10 │ $4.00 Cash + CVR │ Expires Jul 10

EDGE

Summer 2026

MoE

CRBG

All-Stock Merger

~$22B

Shareholder Vote

EDGE

Jul 27, 2026 (Supplemental Info Due)

UNP

NSC

Regulatory Review

$85.0B

STB Accepted Revised Application May 28 │ Held in Abeyance │ Supplemental Info Due Jul 27

EDGE

Q3 2026

ESQ

Signature

All-Stock Merger

~$348.4M

S-4 Filed Apr 15

EDGE

Q2-Q3 2026

PRIVATE

RLYB

Reverse Merger

~$505.5M Financing

S-4/A Filed Apr 24 │ Vote / Close Pending

EDGE

Q3 2026

PSA

NSA

All-Stock Merger

~$10.5B

NSA Shareholder Vote (TBD)

EDGE

Q3 2026

USAR

Acquisition (Cash + Stock)

~$2.8B

Definitive Agreement │ Close Pending

EDGE

H2 2026

ACLS

VECO

Stock Merger

$4.4B

China SAMR Approval

EDGE

H2 2026

BBBY

FTHM

Stock Merger

~$53.4M

Merger Agreement Jun 16 │ 0.2236 BBBY per FTHM │ Vote / S-4 Pending

EDGE

H2 2026

BKH

NWE

All-Stock Merger

All-stock

Regulatory Approvals (Vote Approved Apr 2)

EDGE

H2 2026 (EU Clearance Pending)

BSX

PEN

Cash/Stock Merger

~$14.5B

Vote APPROVED May 6 │ HSR Expired Mar 16 │ EU Clearance Sole Remaining Gate

EDGE

H2 2026 (FTC Second Request)

CTAS

UNF

Cash/Stock Merger

$5.5B

UNF Vote APPROVED Jun 11 (>99%) │ FTC Second Request Jun 11 │ HSR Extended

EDGE

H2 2026

HOMB

MCBI

All-Stock Acquisition

~$154.8M

S-4/A Filed │ Shareholder Vote Pending

EDGE

H2 2026

HOS

HLX

Stock Merger

~$2B Combined

HLX Vote / HSR Pending

EDGE

H2 2026

KMB

KVUE

Cash/Stock Merger

~$48.7B EV

Antitrust Review Pending

EDGE

H2 2026

LGND

XOMA

Cash Acquisition

~$739M

Definitive Agreement │ Vote/HSR Pending

EDGE

H2 2026

LIEN

REFI

Stock Merger (NAV-for-NAV)

~$364M portfolio

Definitive Agreement Jun 18 │ NAV-for-NAV │ REFI elects BDC, merges into LIEN

EDGE

H2 2026

MCFT

MPX

Cash/Stock Merger

~$232.2M

S-4 Filed │ Shareholder Vote Pending

EDGE

H2 2026 (Cleared; Awaiting Close)

MoE

GETY

Stock Merger

$3.7B

CMA Phase 2 Final Report May 15 │ Conditionally Cleared │ Path to H2 Close

EDGE

H2 2026

RIG

VAL

Stock Merger

$5.8B

Dual Shareholder Votes (Bermuda Scheme)

EDGE

H2 2026

SOUN

LPSN

All-Stock Merger + Notes Restructuring

~$43M equity / ~$250M EV

Definitive Apr 21 │ All-Stock Collar / S-4 Pending

EDGE

H2 2026 (S-4 Pending)

WFRD

NCSM

Cash/Stock Election Merger

~0.463x WFRD blended (≤19.99% cash)

Definitive Agreement Jun 1 │ Stock or Stock/Cash Election │ S-4 Pending

EDGE

Late 2026

P/E

AES

Take-Private

~$10.7B equity / $33.4B EV

Regulatory / Shareholder Vote

EDGE

Q4 2026

SPINOFF

CTVA

Spin-Off

~$57B parent mkt cap

Spin-Off Separation │ Form 10 Pending

EDGE

Q1 2027 Close (Per Latest Guidance)

MoE

WTRG

All-Stock Merger

TBD (combined ~$50B+ EV)

Ohio PUC Approval Received May 14 │ Other State Approvals Pending

EDGE

1H 2027 (S-4 / Proxy Pending)

FOXA

ROKU

Cash/Stock Merger

~$22B EV (~$25B equity)

Definitive Agreement Jun 15 │ $96.00 Cash + 0.9693 FOXA per ROKU │ S-4 / Proxy Pending

EDGE

1H 2027

OLN

HUN

Stock Merger (MoE)

~$12.5B

Definitive MoE Jun 15 │ 0.5476 OLN per HUN │ S-4 / Vote Pending

EDGE

Mid-2027

MoE

MKC

Reverse Morris Trust

~$44.8B

Regulatory / Shareholder Approvals

EDGE

Before end-2027

SPINOFF

ABF

Dividend Demerger (Primark Separation)

N/A (dividend demerger)

Primark Spin-Off from FoodCo │ Watchlist

EDGE

H2 2027 (Long Pendency)

INGR

TATE

Recommended Cash Acquisition (UK Scheme)

GBP 2.7B (~$3.6B) equity / ~$5.0B EV

Recommended Offer Jun 8 │ UK Scheme of Arrangement │ 16.8% Irrevocable

EDGE

TBD (Firm Offer Pending)

BHP

AAL

Reported All-Share Hostile Bid

~$39B (reported)

REPORTED │ Monitor for UK Takeover Code Rule 2.7 Firm Offer

EDGE

TBD

MoE

LCII

Reported MoE Discussions

~$6.5B combined (Reported)

MoE Discussions Confirmed │ No Agreement

EDGE

12 to 18 Months (Multi-Agency Approvals)

NEE

All-Stock Merger

~$66B equity (combined ~$400B+ EV)

Definitive Agreement May 18 │ S-4 Joint Proxy Pending │ FERC/NRC/State PUC Review

EDGE

TBD (Vote Pending)

P/E

AVNS

Take-Private

~$1.272B EV

Annual Meeting Postponed │ HSR + Vote Pending

EDGE

TBD

PEBO

CZNL

Cash/Stock Merger

TBD (terms pending)

8-K Filed │ Terms in Exhibit 99.4 / Merger Agreement

EDGE

TBD

PSH

UMG.AS

Reported Unsolicited Offer

~$64-65B (~EUR 55B)

REPORTED Unsolicited Proposal │ UMG Board Rejected; Bolloré Opposition

EDGE

Post-Acceptance (Settlement/Delist)

RUM

Northern

Exchange Offer (Cross-Border)

TBD (~$1.3B est.)

Additional Acceptance Period Ended Jun 1 │ Settlement / Northern Data Delisting Pending

EDGE

TBD

SHCO

Take-Private

TBD

Take-Private │ Delisting Pending

EDGE

Mid-2027 (Long Pendency)

SYNA

Stock Merger

~$7.0B EV

Definitive Jun 25 │ All-Stock 1.350 ON per SYNA │ ~19% Premium │ Close Mid-2027

EDGE

TBD (Proposal Rejected)

PLD

SEGRO

Stock Merger (Proposed)

~£12.6B

Rejected All-Share Proposal │ 0.084 PLD per SEGRO │ ~925p (~£12.6B)

SQUEEZE

Jun 29, 2026 (Distribution Effective)

SPINOFF

HONA

Spin-Off

N/A (Aerospace separation)

Board Approved + Record Date Jun 15 │ Distribution Jun 29 │ HON 1-for-2 Reverse Split Jun 29

SQUEEZE

Aug 2, 2026

ISSUER

MANE

Secondary Offering Closed + IPO Lock-Up Monitor

~$384.4M (3,843,790 sh @ $100.00)

IPO Lock-Up Expiry Aug 2 (~20M shares) │ Primary Supply Event

SQUEEZE

H2 2026

DESPAC

SPKL

De-SPAC Business Combination

$600M pre / ~$752M EV

BCA Jun 11 │ ZincFive Battery │ S-4 Framework │ Expected Nasdaq ZFIV

SQUEEZE

H2 2026 (S-4 / Nasdaq Pending)

SUNE

Suniva

Reverse Merger (Float Reset)

~$2.26/sh implied

Definitive Agreement Jun 5 │ Suniva ~98.2% / SUNE ~1.8% │ S-4 + Nasdaq Listing Pending

SQUEEZE

Q4 2026 (Vote Pending)

DESPAC

IPFX

De-SPAC Business Combination

~$1.2B (post-deal equity)

Business Combination Agreement Jun 8 │ $300M Convertible PIPE │ Expected Nasdaq QSPC

SQUEEZE

Q4 2026

DESPAC

SVAQ

De-SPAC Business Combination

~$3B EV

BCA Jun 17 │ EigenQ Quantum │ S-4 Pending │ Expected Nasdaq EIGQ

SQUEEZE

Q4 2026

DESPAC

GRAF

De-SPAC Business Combination

~$290M pre-money

BCA Jun 12 │ BIG3 Basketball │ Extension Vote by Jun 27 │ Expected NYSE TONT

SQUEEZE

TBD (S-1 Effectiveness)

IPO

LCLN

Proposed IPO

TBD

S-1 Filed Apr 24 │ NYSE Listing Pending

SQUEEZE

Tranche 1 (Post-Q2 Earnings) │ 180-Day Dec 8

IPO

SPCX

Proposed IPO

~$75B raise (~$1.77T val.)

Listed Nasdaq Jun 12 ($135 -> ~$161 close) │ First Lockup ~Aug (Earnings-Triggered) │ 180-Day Expiry Dec 8, 2026

SQUEEZE

TBD (Pricing/Settlement Pending)

ISSUER

AEIS

Convertible Note Issuance

$1.0B

Convert Announced May 13 │ Pricing and Settlement Pending

SQUEEZE

Ongoing

ISSUER

AMKR

Convertible Note Offering | Convert Arb

~$1.0B (base) + $150M option

Convert Settled May 5 │ Delta-Hedge Borrow Active

SQUEEZE

Next Tranche TBD

ISSUER

AVAV

Lock-Up Release | BlueHalo Acquisition Consideration

N/A (17.4M shares across tranches)

First Tranche Released May 1 │ Next Tranche Pending

SQUEEZE

Ongoing (ATM Sales Discretionary)

ISSUER

ATM Equity Program

$2.0B ATM Authorization

$2.0B ATM Program Announced May 8 │ Gradual Supply

SQUEEZE

TBD (S-1 Effectiveness)

ISSUER

IONETIX

PIPE + Pending Resale S-1

>$30M PIPE

PIPE Closed │ Resale S-1 Pending

SQUEEZE

Ongoing

ISSUER

IREN

Convertible Note Issuance

$2.6B

Convert Settled May 14 │ Delta-Hedge Borrow Ongoing

SQUEEZE

Post-Effectiveness

ISSUER

ONDS

Resale Prospectus Supplement

2.33M shares (resale)

Resale Registration │ World View Merger Consideration

SQUEEZE

Ongoing

ISSUER

ORA

Convertible Note Issuance

$1.0B

Delta-Hedge Borrow Demand

SQUEEZE

TBD (Pricing/Closing)

ISSUER

SHAZ

Convertible Note Issuance

$350M

Convertible Note Offering Announced

SQUEEZE

TBD (S-1 Effectiveness)

ISSUER

SPIR

Resale Registration

5M Shares (~$70M PIPE @$14.00)

Form S-1 Filed Apr 23 │ Effectiveness Pending

SQUEEZE

TBD (REPORTED)

ISSUER

STR-LK

Reported Accelerated Lock-Up Release

N/A (~45M sh reported)

REPORTED Accelerated Unlock (~15% of Employee Pool) │ Unverified; Issuer Not Confirmed Public

SQUEEZE

Jul 1, 2026 (Regular-Way)

SPINOFF

MBGL

Spin-Off

N/A (Mobility separation)

Record Jun 15 │ MBGL WI Jun 26-30 │ Regular-Way MBGL Jul 1 (12:01am NY)

SQUEEZE

~Jun 2027 (Completion ~1 yr)

SPINOFF

CMCSA

Spin-Off

N/A (Media separation)

Announced Jun 29 │ Tax-Free Spin of NBCUniversal + Sky │ ~1 Year to Complete

SQUEEZE

TBD (Vote / Redemption)

DESPAC

CCXI

De-SPAC Business Combination

~$2.5B pre-money

Definitive De-SPAC │ ~$2.5B Pre-Money │ PIPE + Warrants │ Post-Close AGLT

MANDATORY

H1 2026

APLD

EKSO

Reverse Merger / Business Combination

TBD

S-4 Pending │ ChronoScale Combination

MANDATORY

Q2 2026

DESPAC

LOKV

De-SPAC

$800M ($746M EV)

De-SPAC Close / Redemption Deadline

MANDATORY

Q2 2026

P/E

ALEX

Take-Private

~$2.3B

Vote Approved Mar 9 │ Await Close

MANDATORY

~Q2 2026

P/E

ELSE

Take-Private

~$26.7M

Take-Private │ Rapid Closing Window (~10 biz days)

MANDATORY

Q2 2026

PRIVATE

DSP

Bolt-on Acquisition

$22.5M + 1.66M sh

Bolt-on Close Pending

MANDATORY

Q2 2026

PRIVATE

FARM

Take-Private

~$28M

Shareholder Vote / Closing

MANDATORY

Q2 2026

PRIVATE

TDG

Cash Acquisition + Buyback

$960M acq + $800M buyback

Stellant Acquisition Close Pending (Financing Closed Apr 17)

MANDATORY

Q2 2026

PSKY

WBD

Cash Merger

~$110-111B EV

Vote Held Apr 23 │ Await Close (PSKY Cash Acquisition)

MANDATORY

TBD 2026

DESPAC

MACI

De-SPAC Business Combination

~$180M

8-K Filed │ Business Combination Announced

MANDATORY

Mid-2026

PRIVATE

HIMS

Acquisition

$1.15B

Regulatory Approvals / Closing

MANDATORY

Jul 10, 2026 (Tender Expiry)

DSX

GNK

Cash Tender (Unsolicited)

~$1.0B+ (offer)

Tender LIVE │ $24.80 All-Cash │ Extended to Jul 10 (28.4% Tendered as of Jun 26) │ $27.34 Board Proposal Standing

MANDATORY

Jun 30, 2026 (Tender Expiry)

ISSUER

OPTU

Issuer-Affiliate Cash Tender + Restructuring

~$300M tender (120M sh @ $2.50)

Tender Launched ~May 29 │ $2.50/sh up to 120M Class A (~42.5%) │ Expires Jun 30 │ CSC Deleveraging

MANDATORY

Aug 3, 2026

ADSK

ADSK-MX

Acquisition (Private Target)

~$3.6B

Definitive Agreement May 28 │ All-Cash │ Close This Fiscal Year

MANDATORY

Q3 2026

FOREIGN

TBRG

Reported Acquisition

~$600M (Reported)

DEFINITIVE │ All-Cash $26.25 / Vote/HSR Pending

MANDATORY

Jul 14, 2026 (Tender Expiry)

GSK

NUVL

Cash Tender + Merger (251(h))

$10.6B

Tender Commenced Jun 24 │ $124.00 Cash │ Expires Jul 14 (251(h) Back-End Merger) │ Outside Date Dec 9

MANDATORY

Q3 2026

INCY

Vega

Acquisition (Private Target)

$1.25B upfront (up to $2.0B)

Definitive Agreement Jun 8 │ Equity/Stock Purchase │ HSR Pending

MANDATORY

Q3 2026

ISSUER

NFE

RSA / Company Split

~$5.7B → $527.5M

UK Restructuring Plan (April)

MANDATORY

Q3 2026

LPRO

Cash Tender

~$3.15/sh

Merger Agreement Jun 15 │ $3.15 Cash Tender │ Tender Commenced Jun 24; Expires Jul 14

MANDATORY

Q2-Q3 2026

OWL

SILA

Take-Private (REIT)

~$2.4B

All-Cash REIT Take-Private │ Vote Pending

MANDATORY

Q3 2026

P/E

WSR

Take-Private

~$1.7B

Shareholder Vote / Closing

MANDATORY

Q3 2026

UHS

TALK

Cash Merger

$835M

Shareholder Vote

MANDATORY

Aug 2026 (Expected Close)

PRIVATE

TWO

Cash Merger

$12.00/sh (~$1.5B est.)

Vote Process Concluded Jun 11 │ CCM $12.00 Cash │ 46/53 Approvals; HSR Early Term │ Close ~Aug 2026

MANDATORY

H2 2026

ADI

ADI-EMP

Acquisition (Private Target)

~$1.5B

Definitive Agreement May 19 │ All-Cash │ Close H2 2026 (HSR)

MANDATORY

H2 2026

BRC

HON

Asset Sale (PSS Divestiture)

$1.4B

Asset Sale │ No Ride-Through Impact on HON

MANDATORY

H2 2026

BRK.B

TMHC

Cash Merger

~$8.5B EV (~$6.8B equity)

Definitive Agreement │ Vote/HSR Pending

MANDATORY

H2 2026

DHR

MASI

Cash Merger

$9.9B

Shareholder Vote

MANDATORY

2H 2026

ENVA

GRASS

Cash/Stock Acquisition

$400M

Expected Closing

MANDATORY

H2 2026

FOREIGN

BKR

Asset Divestiture

~$1.45B

Expected Close │ Regulatory Pending

MANDATORY

H2 2026

FOREIGN

OGN

Cash Merger

~$11.75B

Definitive Agreement Apr 26 │ Vote/HSR Pending

MANDATORY

H2 2026

FOREIGN

OLPX

Take-Private

~$1.4B

DEFM14C Mailed May 4 │ Vote/Close Pending

MANDATORY

H2 2026

ISSUER

MGA

Asset Divestiture

~$1.1B (2025 sales)

Lighting/Rooftop Systems Sale │ PE Buyers

MANDATORY

H2 2026

ONTO

Minority Stake Acquisition

~$710M

Minority Stake │ HSR Pending

MANDATORY

H2 2026

P/E

BHF

Take-Private

$4.1B

Insurance Regulatory Review

MANDATORY

H2 2026

P/E

CCO

Take-Private

$6.2B

Go-Shop Ended Mar 26 │ Vote/HSR Pending

MANDATORY

H2 2026

P/E

CZR

Cash Merger

~$17.6B EV

Definitive All-Cash │ Go-Shop; Vote/HSR Pending

MANDATORY

H2 2026

P/E

EEX

Take-Private

~$1.5B EV (~$350M equity)

Written Consent Executed by Onex (>90%) │ No Vote Required

MANDATORY

H2 2026

P/E

TXNM

Take-Private

$11.5B

NRC / NMPRC Approvals

MANDATORY

H2 2026

CIR

Asset Sale (Aerospace Divestiture)

~$2.55B

Definitive Agreement │ Close Pending

MANDATORY

H2 2026

PRIVATE

AMRX

Acquisition (Cash + Equity)

$750M + up to $350M

Definitive Agreement Apr 22 │ AMRX Vote/HSR Pending

MANDATORY

H2 2026

SHEL

ARX

Cross-Border Acquirer

~$16.4B EV

Shareholder/Court/Regulatory Approvals

MANDATORY

Q4 2026

MDA

BCT

Acquisition (Private Target / Divestiture)

~$620M (US)

Definitive Agreement Jun 19 │ All-Cash │ Carve-out from RTX │ CFIUS

MANDATORY

Q4 2026

MSI

D-Fend

Acquisition (Private Target)

$1.5B

Definitive Agreement Jun 1 │ All-Cash │ Close Expected Q4 2026

MANDATORY

H1 2027

TXN

SLAB

Cash Merger

$7.5B

SLAB Vote Approved Apr 30 │ Awaiting Regulatory Clearance (HSR + Foreign)

MANDATORY

Q4 CRM FY2027

CRM

Fin

Acquisition (Private Target)

~$3.6B

Definitive Agreement Jun 15 │ All-Cash │ Close Q4 Salesforce FY2027

MANDATORY

Q3 FY2027

PRIVATE

SYY

Cash/Stock Acquisition

$29.1B

Expected Closing

MANDATORY

Ongoing (Through Jun 30, 2029)

ISSUER

DVN

Share Repurchase Authorization + Execution Window

$8.0B

$8B Buyback Authorized May 7 │ Largest in Coverage Universe

MANDATORY

Close / BXBL Relisting Pending

DESPAC

FGMC

De-SPAC Business Combination

~$3.5B (BOXABL implied)

Vote APPROVED Jun 9 │ Awaiting Close + Rename/Relist to BXBL

MANDATORY

TBD (Revised Close)

FSUN

HMST

Amended Merger Agreement | Ratio Cut

N/A (terms amended)

Amended Merger Agreement Filed │ Exchange Ratio Cut to 0.3867

MANDATORY

Ongoing (buyback execution)

ISSUER

CCI

Asset Divestitures Closed + Share Repurchase

~$8.5B divestitures; $1.0B buyback auth.

Divestitures Closed May 1 │ $1.0B Buyback Authorized; Towers-Only REIT

MANDATORY

TBD (Final Pricing)

ISSUER

SCHL

Modified Dutch Auction Tender

$200M

Final Clearing Price Pending │ Tender Expired Apr 20

MANDATORY

TBD (Execution Pending)

ISSUER

SNDK

Share Repurchase Authorization

$6.0B authorization

$6.0B Buyback Authorized │ Execution Method TBD; Monitor for ASR Tranche

MANDATORY

TBD

JNJ

Firefly

Acquisition (Private Target)

$1.0B

Definitive Agreement Jun 8 │ All-Cash │ Close Expected Later 2026

MANDATORY

Post-Tender (Settlement + Buyback)

KKR

FSK

Cash Tender (Issuer-Related) + Convert Pref + Buyback

$150M Tender + $150M Conv. Pref. + $300M Buyback Auth.

Tender Expired ~Jun 9 │ Settlement / $300M Buyback Execution Pending

MANDATORY

Settlement / Delisting Pending

MGMT

FORA

Cash Tender (Mgmt-Led)

~$68M

Tender Expired May 14 │ Second-Step Merger / Delisting Pending

MANDATORY

TBD

NEE

CALIBER

Acquisition + JV (Reported)

~$1.3B

REPORTED │ Caliber Acquisition + Quantum JV (Reuters)

MANDATORY

TBD

RUMORED

PZZA

Reported Take-Private

~$1.5B

No Definitive Filing │ Monitor

MANDATORY

TBD (REPORTED)

SPINOFF

MMM-CA

Reported Spin-Off (Consumer Adhesives)

~$5.5B (Reported)

REPORTED Consumer-Adhesives Spin-Off │ Unverified; Not Found in Primary Filings

MANDATORY

TBD (Pending Definitive Agreement)

TBD

Take-Private (Bond-Financed)

TBD (Pending Definitive Agreement)

Bond Tender Tied to Take-Private Financing │ Acquirer TBD

MANDATORY

NVDA

MRVL

Strategic Investment

$2B (NVDA stake)

NVDA $2B Investment Confirmed

MANDATORY

Q3 2026 (Close)

ABBV

APGE

Acquisition

~$10.9B equity

Definitive Jun 22 │ All-Cash $135.11 │ Vote + Regulatory Pending │ Close Q3 2026

MANDATORY

TBD (HSR / Vote)

FOREIGN

TECH

Acquisition

~$11.3B EV

Definitive Jun 25 │ All-Cash $73.00 │ ~$11.3B EV │ Vote + Regulatory Pending

MANDATORY

H2 2026 (Vote / Regulatory)

CRH

ACA

Acquisition

~$8.5B EV

Announced Jun 22 │ All-Cash $150.00 │ ~$8.5B EV │ Vote + Regulatory Pending

MANDATORY

TBD (HSR / Close)

IPSN

Kartos

Acquisition (Private Target)

~$1.75B total potential

Definitive Private-Target │ $450M Upfront + up to $1.3B Milestones

MANDATORY

Jun 30, 2026 (Effective)

ISSUER

ALIT

Reverse Split

N/A

Announced Jun 18 │ Effective Jun 30 │ Split-Adjusted Trading Jul 1

The ASC Corporate Actions Calendar is best understood as a curated set of deal situations selected not for their headline interest but for the structural footprint they leave in the securities finance markets. Each entry, whether a cash tender, a stock-for-stock merger, a spin-off, a lockup expiration, or a convertible issuance, carries a defined set of mechanics: recall obligations at closing, manufactured-payment exposure across record dates, exchange-ratio hedging requirements, election and proration asymmetries, and supply-shock catalysts. These mechanics are not random. They follow from the deal structure and the regulatory framework governing it, which means they can be anticipated, tracked against known milestone dates, and to a meaningful degree analyzed in advance. The calendar's value lies precisely in mapping each deal to its predictable lending-market consequences: which ticker will face recall pressure, which will draw borrow demand from arbitrage hedging, and when the supply condition is likely to tighten or release.

That structural analysis is feasible in securities finance in a way that is not possible in the secondary or primary markets because the lending market is a comparatively closed system. Its participants are a bounded population of regulated entities, prime brokers, custodians, agent lenders, and institutional beneficial owners, operating under capital and balance-sheet constraints that limit how supply and demand can move. Inventory is finite and broadly identifiable, settlement and recall run on defined standard procedures with known timing, and corporate-action processing follows established conventions rather than open-ended price discovery. Because the inputs are constrained and the procedures are standardized, the effect of a given corporate action on borrow availability, utilization, and recall sequencing is far more tractable to model than the price path of the underlying equity. The calendar exploits that tractability: it treats each deal as a structural event whose lending-market consequences can be read off the mechanics, the participant set, and the procedural calendar, rather than guessed at from market sentiment.

SECTION 1B | Detailed Deal Cards | Grouped by Tier, ordered by Acquirer Ticker

ALPHA (6 deals)

AMZN >> GSAT (Cash/Stock Election Merger) | Cash or Stock (Elect.)

KEY DATE	2027
KEY EVENT	Close 2027 (FCC + Intl Regulatory)
EST. CLOSE	2027
ANNOUNCED	4/13/26

PRIORITY RATING 54 | TU 4 RF 18 FS 10 OE 22

ACTION TYPE	Cash/Stock Election Merger
DEAL VALUE	~$11.6B
STRUCTURE	Cash or Stock (Elect.)
TRADER TIER	ALPHA

NEW Apr 14. Amazon-Globalstar definitive merger agreement dated April 13, announced April 14. Each GSAT share exchanges at shareholder election for $90.00 cash OR 0.3210 AMZN shares (stock consideration value capped at $90.00). Thermo Funding II controls >57% voting power and has delivered written consent supporting the transaction | effectively bypasses standalone shareholder vote. ~117% premium to unaffected price. Concurrent agreement with Apple: Amazon Leo will power satellite services for iPhone/Apple Watch (Apple previously held ~20% stake in Globalstar). Infrastructure prepayment amended by +$468M to ~$1.58B aggregate. Outside date April 13, 2027 with extensions to Oct 13, 2027 and Apr 13, 2028. Termination fees: GSAT→AMZN ~$419.8M (alternative-transaction scenarios); AMZN→GSAT ~$592.1M (failure of required regulatory clearances). GSAT is likely a Russell 2000/3000 constituent | removal at close triggers ETF rebalancing across IWM, VTWO, etc. Cash election pathway functions as de facto all-cash for electing holders (shares tendered for cash do not ride through); stock election drives AMZN hedge short demand. Monitor election mix as deal progresses. Extended regulatory timeline (FCC + international) means arb window runs through 2027. Desk view: build position for long-dated cash-or-stock merger-arb situation.

IONQ >> SKYT (Cash/Stock Merger) | Cash/Stock

KEY DATE	Q2-Q3 2026
KEY EVENT	Vote Approved May 8 \| FTC Second Request Pending
EST. CLOSE	Q3 2026
ANNOUNCED	1/26/26

PRIORITY RATING 72 | TU 14 RF 18 FS 18 OE 22

ACTION TYPE	Cash/Stock Merger
DEAL VALUE	$1.8B
STRUCTURE	Cash/Stock
TRADER TIER	ALPHA

SKYT stockholders approved merger with IonQ on May 8, 2026 (~$1.8B equity value at $35/share reference). Deal structure is cash/stock per definitive merger agreement; final mix subject to election mechanics. FTC SECOND REQUEST issued Apr 24 | antitrust timeline extended; expected close Q2/Q3 2026. Stock-leg arb borrow demand continues until regulatory clearance. Vote-approved-await-regulatory-close pattern. Monitor FTC milestone disclosures; borrow demand likely persists through second-request response window.

QXO >> BLD (Cash/Stock Merger (Proration)) | Cash/Stock (Elect.)

KEY DATE	Jun 29, 2026 (Election Deadline)
KEY EVENT	Election Deadline Jun 29 (Verified PR/S-4/A) \| $505 Cash or 20.200 QXO \| Dual Special Meetings Jun 29
EST. CLOSE	Q3 2026
ANNOUNCED	4/19/26

PRIORITY RATING 74 | TU 22 RF 18 FS 10 OE 24

ACTION TYPE	Cash/Stock Merger (Proration)
DEAL VALUE	~$17B
STRUCTURE	Cash/Stock (Elect.)
TRADER TIER	ALPHA

UPDATED Jun 15. Verified against the QXO/TopBuild joint press release dated June 4, 2026 and the QXO Form S-4/A (joint proxy/prospectus dated May 29). TopBuild stockholders of record must elect by 5:00 p.m. ET on June 29, 2026 to receive either $505.00 cash OR 20.200 QXO shares per BLD share, subject to proration (aggregate about 45% cash / 55% stock); holders who do not submit a valid election default to stock consideration, with fractional QXO shares settled in cash. Dual QXO and TopBuild special meetings are set for June 29. Large mixed-consideration arb: long BLD / short QXO at the proration-adjusted ratio, so QXO carries the hedge-borrow demand from arbs while BLD carries recall pressure into close. Add QXO to the Hot List for HARDER rebate. BLD is an S&P MidCap 400 component; closing/delisting triggers MidCap 400 ETF rebalancing (MDY, IJH, IVOO, SPMD). Election deadline and the June 29 meetings are the near-term operational triggers; close expected Q3 2026 subject to the votes, HSR, and S-4 effectiveness.

REAX >> RMAX (Cash/Stock Election Merger) | Cash/Stock Election

KEY DATE	H2 2026
KEY EVENT	Definitive Agreement \| Vote/HSR Pending
EST. CLOSE	H2 2026
ANNOUNCED	~4/25/26

PRIORITY RATING 70 | TU 10 RF 18 FS 18 OE 24

ACTION TYPE	Cash/Stock Election Merger
DEAL VALUE	~$880M EV
STRUCTURE	Cash/Stock Election
TRADER TIER	ALPHA

Definitive merger announced ~Apr 25-26: Real Brokerage (REAX) acquires RE/MAX. ~$550M equity / ~$880M EV. RMAX holders elect 5.15 REAX shares OR $13.80 cash per share (proration mechanics TBD). Post-close ownership ~59% REAX / ~41% RMAX. Mixed consideration creates two-leg arb: RMAX may tighten as arbs build; REAX borrow firms if holders hedge stock leg. Watch election deadline, proration outcomes, and combined-company listing mechanics. Add RMAX to Hot List.

RUMORED >> BF.B (Reported Competing Bids) | Cash or Stock (Reported)

KEY DATE	TBD
KEY EVENT	No Definitive Agreement \| Reported Only
EST. CLOSE	TBD
ANNOUNCED	Apr 2026 (Reported)

PRIORITY RATING 56 | TU 6 RF 18 FS 10 OE 22

ACTION TYPE	Reported Competing Bids
DEAL VALUE	~$13.5B-$15B (Reported)
STRUCTURE	Cash or Stock (Reported)
TRADER TIER	ALPHA

NEW Apr 16. REPORTED competing acquisition approaches for Brown-Forman. WSJ, Bloomberg, Reuters report Sazerac made formal ~$15B bid (~$32/share) on April 15. Sazerac competing with Pernod Ricard, which has been in CONFIRMED merger-of-equals discussions with Brown-Forman since late March 2026. BF.B shares up ~25% since Pernod talks became public. Brown family controls majority of voting shares, historically making BF.B difficult acquisition target. Market cap ~$13.5B pre-bid. S&P 500 constituent (BF.B). If definitive agreement reached and BF.B delisted, removal from S&P 500 and related indices (SPY, IVV, VOO, RSP, XLP) would trigger index rebalancing. NO DEFINITIVE AGREEMENT; all lending implications remain hypothetical pending agreement. If Sazerac (all-cash) prevails: mandatory close-out at closing. If Pernod Ricard (stock-for-stock) prevails: arb short demand in acquirer. Monitor for SEC filing before treating as confirmed.

UCB >> Peach State (Cash/Stock Merger) | Cash/Stock

KEY DATE	Q3 2026
KEY EVENT	50/50 Mandatory Proration \| Regulatory + Vote Pending
EST. CLOSE	Q3 2026
ANNOUNCED	4/21/26

PRIORITY RATING 78 | TU 14 RF 18 FS 22 OE 24

ACTION TYPE	Cash/Stock Merger
DEAL VALUE	~$100.8M
STRUCTURE	Cash/Stock
TRADER TIER	ALPHA

NEW Apr 21-22. United Community Banks definitive merger agreement (announced Apr 21) to acquire Peach State Bancshares (parent of Peach State Bank & Trust, Gainesville GA). Consideration: each Peach State share may elect $31.75 cash OR 0.8978 UCB shares, subject to MANDATORY 50/50 PRORATION | 50% of aggregate Peach State shares receive cash, 50% receive stock, regardless of individual election. Outstanding Peach State options cashed out at closing. Aggregate deal value ~$100.8M based on UCB $34.15 close Apr 17. Peach State: ~$788M total assets, $498M loans, $713M deposits. Expected close Q3 2026; regulatory approval + Peach State shareholder approval. Accretion guidance: ~$0.09 EPS 2027 (~$0.12 with share repurchase offset). Mandatory 50/50 proration means the cashed-out half is a mandatory-recall event at closing for any Peach State loans outstanding; the stock-elected half converts to UCB shares at 0.8978 and rides through. Peach State is private-float-limited | not a primary lending focus. Track S-4 filing and shareholder meeting dates. Monitor UCB for merger-arb-related borrow demand; small deal relative to UCB market cap, expected limited impact.

EDGE (47 deals)

ACLS >> VECO (Stock Merger) | Stock

KEY DATE	H2 2026
KEY EVENT	China SAMR Approval
EST. CLOSE	H2 2026
ANNOUNCED	10/1/25

PRIORITY RATING 58 | TU 10 RF 16 FS 14 OE 18

ACTION TYPE	Stock Merger
DEAL VALUE	$4.4B
STRUCTURE	Stock
TRADER TIER	EDGE

Both shareholder votes approved 2/6. China SAMR is ONLY remaining condition. Pure regulatory binary. SAMR timeline unpredictable given US semiconductor geopolitics.

BBBY >> FTHM (Stock Merger) | Stock

KEY DATE	H2 2026
KEY EVENT	Merger Agreement Jun 16 \| 0.2236 BBBY per FTHM \| Vote / S-4 Pending
EST. CLOSE	H2 2026
ANNOUNCED	6/17/26

PRIORITY RATING 64 | TU 10 RF 16 FS 22 OE 16

ACTION TYPE	Stock Merger
DEAL VALUE	~$53.4M
STRUCTURE	Stock
TRADER TIER	EDGE

NEW Jun 22. Verified against the Bed Bath & Beyond Form 8-K and the Fathom PR Newswire release dated June 16-17, 2026. BBBY (NYSE) acquires Fathom Holdings (Nasdaq: FTHM) in an all-stock Merger Agreement and Plan of Reorganization; each FTHM share converts to 0.2236 BBBY shares, subject to closing adjustments, implying ~$53.4M equity value. FTHM survives as a wholly owned subsidiary, folded into the Everything Home strategy. Close expected H2 2026 subject to FTHM shareholder approval and regulatory clearances; S-4 / proxy upcoming. Small-cap, low-float all-stock arb: long FTHM / short BBBY at 0.2236. BBBY carries the hedge-borrow demand from arbs hedging the long-FTHM leg while FTHM carries the corporate-action recall pressure. Both names ride through to BBBY shares at the ratio; thin float on both sides makes borrow rate-sensitive. Add FTHM to the borrow watchlist; track the S-4 and meeting date.

BCO >> NATL (Cash/Stock Merger) | Cash/Stock

KEY DATE	Jun 30, 2026
KEY EVENT	Dual Special Meetings Jun 30 (Verified S-4/A, DEFM14A) \| $30.00 + 0.1574 BCO
EST. CLOSE	Q1 2027
ANNOUNCED	2/26/26

PRIORITY RATING 62 | TU 10 RF 18 FS 14 OE 20

ACTION TYPE	Cash/Stock Merger
DEAL VALUE	~$6.6B (~$9.2B incl. debt)
STRUCTURE	Cash/Stock
TRADER TIER	EDGE

$9.2B total incl. $2.6B assumed NATL debt. FINANCING MILESTONE Apr 6: BCO amended/extended credit facility from $2.225B to $3.85B ($1.025B delayed-draw term loan + $600M increased revolver). Proceeds earmarked for cash consideration and NATL debt refinancing. S-4/A and DEFM14A filed; dual special meetings set for June 30, 2026. Close expected Q1 2027. Financing secured is a deal-progression signal. BCO is the short leg | monitor borrow demand as proxy/S-4 advances.

BHP >> AAL (Reported All-Share Hostile Bid) | All-Share (reported; conditional on spin-offs)

KEY DATE	TBD (Firm Offer Pending)
KEY EVENT	REPORTED \| Monitor for UK Takeover Code Rule 2.7 Firm Offer
EST. CLOSE	Potentially Late 2026
ANNOUNCED	Reported ~May 2026

PRIORITY RATING 46 | TU 6 RF 12 FS 10 OE 18

ACTION TYPE	Reported All-Share Hostile Bid
DEAL VALUE	~$39B (reported)
STRUCTURE	All-Share (reported; conditional on spin-offs)
TRADER TIER	EDGE

BHP Group Limited reported to be pursuing all-share acquisition of Anglo American PLC (~$39B; REPORTED | unverified against primary filings). Conditional on Anglo American spinning off South African platinum (Amplats) and iron ore (Kumba) assets before deal executes. Cross-border arb requires identification of the hedgeable consideration line (NYSE BHP vs. ASX vs. LSE vs. ADR vs. swap). REPORTED only | do not pre-position. Monitor for UK Takeover Code Rule 2.7 announcement (firm offer deadline). Prior 2024 BHP hostile bid cycle was ultimately withdrawn. Verify against primary company disclosures.

BKH >> NWE (All-Stock Merger) | Stock

KEY DATE	H2 2026
KEY EVENT	Regulatory Approvals (Vote Approved Apr 2)
EST. CLOSE	H2 2026
ANNOUNCED	~2025

PRIORITY RATING 60 | TU 10 RF 16 FS 14 OE 20

ACTION TYPE	All-Stock Merger
DEAL VALUE	All-stock
STRUCTURE	Stock
TRADER TIER	EDGE

NEW Apr 7. Black Hills and NorthWestern Energy all-stock merger. Both shareholder meetings approved Apr 2. NWE shareholders receive 0.98 BKH shares. Combined entity: Bright Horizon Energy Corporation (8 states). Close expected H2 2026 subject to HSR, FERC, MT/NE/SD state approvals. Monitor NWE for arb borrow demand as regulatory milestones approach.

BKR >> GTLS (Cash Merger) | Cash

KEY DATE	Mid-2026
KEY EVENT	Expected Close \| All Regulatory Conditions Pending
EST. CLOSE	Mid-2026
ANNOUNCED	2025 (Oct vote)

PRIORITY RATING 62 | TU 14 RF 22 FS 10 OE 16

ACTION TYPE	Cash Merger
DEAL VALUE	$13.6B
STRUCTURE	Cash
TRADER TIER	EDGE

NEW Apr 14. Baker Hughes acquiring Chart Industries at $210/share all-cash (~$13.6B). Chart shareholders approved deal October 2025. Baker Hughes has fully committed bridge debt financing to be replaced with permanent debt prior to close. Remaining regulatory approvals and customary closing conditions pending (US + EU antitrust have caused prior delays). GTLS is S&P MidCap 400 constituent | removal would likely trigger rebalancing across IJH, MDY, SPMD (verify current AUM before sizing impact). BKR $13.6B new debt shifts credit profile materially. All-cash structure = mandatory recall at closing; no ride-through. Monitor for closing date announcement.

BSX >> PEN (Cash/Stock Merger) | Cash/Stock

KEY DATE	H2 2026 (EU Clearance Pending)
KEY EVENT	Vote APPROVED May 6 \| HSR Expired Mar 16 \| EU Clearance Sole Remaining Gate
EST. CLOSE	H2 2026
ANNOUNCED	1/14/26

PRIORITY RATING 56 | TU 10 RF 18 FS 10 OE 18

ACTION TYPE	Cash/Stock Merger
DEAL VALUE	~$14.5B
STRUCTURE	Cash/Stock
TRADER TIER	EDGE

UPDATED Jun 15 (verified vs BSX 8-K, 424B3, S-4/A). Mixed CASH/STOCK merger: Boston Scientific acquires Penumbra at $374.00 per PEN share; holders elect $374.00 cash OR 3.8721 BSX shares, subject to proration to about 73.26% cash / 26.74% stock (~$14.5B EV). PEN shareholder vote APPROVED May 6, 2026; the HSR waiting period expired March 16, 2026. The sole remaining material gate is EU competition clearance (pending referral at the parties' request); other non-US jurisdictions also pending. A $900M reverse termination fee applies in specified antitrust-failure scenarios. Because a stock component exists, the arb is long PEN / short BSX at the proration-adjusted ratio: BSX carries arb hedge-borrow demand, PEN carries the corporate-action recall pressure. The cash-elected portion is a mandatory-recall event on close; the stock-elected portion converts to BSX at 3.8721 and rides through, so this is NOT a no-ride-through, all-cash close. Expected close H2 2026; track the EU clearance and CUSIP retirement.

CCL >> CUK (Scheme of Arr.) | Share Conv.

KEY DATE	Q2 2026
KEY EVENT	NYSE Delist (Scheme Effective)
EST. CLOSE	By 12/31/26
ANNOUNCED	2/20/26

PRIORITY RATING 62 | TU 18 RF 12 FS 14 OE 18

ACTION TYPE	Scheme of Arr.
DEAL VALUE	~$4.0B
STRUCTURE	Share Conv.
TRADER TIER	EDGE

Carnival DLC collapse | CUK ADS delisted from NYSE upon scheme effectiveness. UK Court sanction + SEC registration still pending. Deadline 12/31/26. BEGIN IDENTIFYING ALL CUK LOAN POSITIONS. CUSIP transitions to new CCL on delist.

CTAS >> UNF (Cash/Stock Merger) | Cash/Stock

KEY DATE	H2 2026 (FTC Second Request)
KEY EVENT	UNF Vote APPROVED Jun 11 (>99%) \| FTC Second Request Jun 11 \| HSR Extended
EST. CLOSE	H2 2026
ANNOUNCED	Mar 2026

PRIORITY RATING 58 | TU 10 RF 16 FS 14 OE 18

ACTION TYPE	Cash/Stock Merger
DEAL VALUE	$5.5B
STRUCTURE	Cash/Stock
TRADER TIER	EDGE

UPDATED Jun 15. Verified vs UniFirst 8-K and GlobeNewswire release. UNF shareholders approved the Cintas merger on June 11, 2026 (over 99% of votes cast; ~95% of shares); consideration $155.00 cash + 0.7720 CTAS per UNF share. On June 11 the FTC issued a Second Request under HSR, extending the antitrust waiting period until 30 days after substantial compliance; closing still expected H2 2026. The arb is long UNF / short CTAS at the proration-adjusted ratio: CTAS carries hedge-borrow demand from arbs hedging the long-UNF leg while UNF carries the corporate-action recall pressure into close. The vote is done; the binary now is the FTC second-request review. Keep UNF on the Hot List; track the second-request timeline as the recall trigger.

CVBF >> HTBK (Stock Merger) | Stock

KEY DATE	Q2 2026
KEY EVENT	Expected Closing
EST. CLOSE	6/30/26
ANNOUNCED	12/19/25

PRIORITY RATING 68 | TU 18 RF 16 FS 18 OE 16

ACTION TYPE	Stock Merger
DEAL VALUE	$800M
STRUCTURE	Stock
TRADER TIER	EDGE

[TICKER CORRECTED: Heritage Commerce Corp = HTBK] California bank consolidation. March shareholder vote held (monitor result). S-4 filed 1/15. Close targeted 6/30/26.

ESQ >> Signature (All-Stock Merger) | Stock

KEY DATE	Q3 2026
KEY EVENT	S-4 Filed Apr 15
EST. CLOSE	Q3 2026
ANNOUNCED	3/12/26

PRIORITY RATING 74 | TU 14 RF 16 FS 22 OE 22

ACTION TYPE	All-Stock Merger
DEAL VALUE	~$348.4M
STRUCTURE	Stock
TRADER TIER	EDGE

NEW Apr 16. Esquire Financial Holdings filed Form S-4 April 15, 2026 for all-stock acquisition of Signature Bancorporation. Exchange ratio: 2.63 ESQ shares per Signature share (adjustable 2.50-2.80 within collar). Implied aggregate transaction value ~$348.4M. Combined entity ~$4.8B assets. Close expected Q3 2026. Classic stock-for-stock merger arb: long Signature / short ESQ. Monitor ESQ borrow demand as arb desks establish positions. Small-cap bank means OMV may be limited. Exchange ratio adjustment mechanism introduces hedge ratio uncertainty.

FOXA >> ROKU (Cash/Stock Merger) | Cash/Stock (60% Cash / 40% Stock)

KEY DATE	1H 2027 (S-4 / Proxy Pending)
KEY EVENT	Definitive Agreement Jun 15 \| $96.00 Cash + 0.9693 FOXA per ROKU \| S-4 / Proxy Pending
EST. CLOSE	1H 2027
ANNOUNCED	6/15/26

PRIORITY RATING 54 | TU 6 RF 16 FS 12 OE 20

ACTION TYPE	Cash/Stock Merger
DEAL VALUE	~$22B EV (~$25B equity)
STRUCTURE	Cash/Stock (60% Cash / 40% Stock)
TRADER TIER	EDGE

NEW Jun 15. Verified against the Fox Corporation Form 8-K and PR Newswire release dated June 15, 2026. FOX acquires Roku at $160.00 per ROKU share: $96.00 cash plus 0.9693 FOX Class A shares for each Roku Class A and Class B share (stock leg valued at $64.00 on a $66.03 10-day VWAP reference), about 60% cash / 40% stock, ~$25B equity / ~$22B EV. Post-close ownership ~73% FOX / ~27% Roku; FOX issues ~152M Class A shares and carries a $12B bridge commitment. Close expected 1H CY2027 subject to ROKU shareholder vote and regulatory approval; S-4 / proxy pending. Because a stock component exists, the arb is long ROKU / short FOXA at the fixed mix: FOXA carries the hedge-borrow demand from arbs hedging the long-ROKU leg, while ROKU carries the corporate-action recall pressure. The cash portion is a mandatory-recall event at close; the stock portion converts to FOXA at 0.9693 and rides through, so this is not a no-ride-through, all-cash close. Long pendency keeps the merger-arb borrow on FOXA live; add FOXA to the borrow watchlist and track the S-4 and meeting date.

HOMB >> MCBI (All-Stock Acquisition) | Stock

KEY DATE	H2 2026
KEY EVENT	S-4/A Filed \| Shareholder Vote Pending
EST. CLOSE	H2 2026
ANNOUNCED	~2025

PRIORITY RATING 64 | TU 10 RF 16 FS 22 OE 16

ACTION TYPE	All-Stock Acquisition
DEAL VALUE	~$154.8M
STRUCTURE	Stock
TRADER TIER	EDGE

NEW Mar 27. Home BancShares acquiring Mountain Commerce Bancorp in all-stock deal. S-4/A filed. Exchange ratio 0.85x HOMB per MCBI share. ~$154.8M deal value. Monitor MCBI borrow activity. Prepare for share conversion mechanics. Standard community bank merger arb | long MCBI / short 0.85x HOMB.

HOS >> HLX (Stock Merger) | Stock

KEY DATE	H2 2026
KEY EVENT	HLX Vote / HSR Pending
EST. CLOSE	H2 2026
ANNOUNCED	4/23/26

PRIORITY RATING 58 | TU 10 RF 16 FS 14 OE 18

ACTION TYPE	Stock Merger
DEAL VALUE	~$2B Combined
STRUCTURE	Stock
TRADER TIER	EDGE

All-stock MoE announced Apr 23 (8-K filed Apr 24). Each HOS share converts into 10.27167 HLX shares (fixed). Post-close: HOS shareholders ~55%, HLX ~45% fully diluted. Combined entity continues as Hornbeck Offshore Services on NYSE under HOS ticker; Helix brand retained for Well Intervention Services. Synergies $75M+ targeted within 3 years; tax-free to both. Ares Management funds delivered written consent covering substantial HOS holding | HLX vote is principal gating item. Classic merger arb setup: long HOS / short HLX at 10.27167:1. Add HLX to Hot List for HARDER rebate dynamics; HOS may also firm.

INGR >> TATE (Recommended Cash Acquisition (UK Scheme)) | Cash

KEY DATE	H2 2027 (Long Pendency)
KEY EVENT	Recommended Offer Jun 8 \| UK Scheme of Arrangement \| 16.8% Irrevocable
EST. CLOSE	H2 2027
ANNOUNCED	6/8/26

PRIORITY RATING 54 | TU 6 RF 16 FS 14 OE 18

ACTION TYPE	Recommended Cash Acquisition (UK Scheme)
DEAL VALUE	GBP 2.7B (~$3.6B) equity / ~$5.0B EV
STRUCTURE	Cash
TRADER TIER	EDGE

NEW Jun 15. Verified against the Ingredion Form 8-K (CIK 0001046257) and GlobeNewswire release dated June 8, 2026. Ingredion announced a recommended all-cash acquisition of UK-listed Tate & Lyle (LSE: TATE) at 595 pence per share, ~GBP 2.7B (~$3.6B) equity and ~GBP 3.7B (~$5.0B) EV, a 59% premium, implemented via a UK court-sanctioned scheme of arrangement (Ingredion reserved the right to switch to a takeover offer). The firm offer landed ahead of the June 11 UK PUSU deadline. Irrevocable undertaking from Huber Equity Corporation covers ~16.8% of Tate & Lyle shares; financed via cash, new debt, and a $4.225B committed bridge. The borrow-relevant security is the US acquirer, INGR; Tate & Lyle trades on the LSE and settles under UK takeover-code mechanics, not US recall/lockup logic. Permitted deal dividends (up to 13.2p final + 6.8p interim) are carve-outs, not standalone declarations. Close targeted H2 2027, a long pendency that keeps merger-arb borrow on INGR live for an extended period. Acquirer-side watch.

KMB >> KVUE (Cash/Stock Merger) | Cash/Stock

KEY DATE	H2 2026
KEY EVENT	Antitrust Review Pending
EST. CLOSE	H2 2026
ANNOUNCED	11/3/25

PRIORITY RATING 56 | TU 10 RF 18 FS 10 OE 18

ACTION TYPE	Cash/Stock Merger
DEAL VALUE	~$48.7B EV
STRUCTURE	Cash/Stock
TRADER TIER	EDGE

SHAREHOLDER VOTES APPROVED Jan 29, 2026 (~99% KVUE, ~96% KMB). POST-CLOSING ORGANIZATIONAL STRUCTURE DISCLOSED April 15, 2026: four geographic segments, North America anchors at ~$18B annual sales, Integration Management Office with 30+ workstreams under CEO Mike Hsu. Pending FTC second-request antitrust review. KMB acquires all KVUE shares for $3.50 cash + 0.14625 KMB per KVUE share. KMB shareholders ~54% / KVUE holders ~46% post-close. Close anticipated H2 2026. Stock component creates classic merger arb: long KVUE / short KMB | expect sustained KMB borrow demand. KVUE removal from S&P 500 and consumer-staples ETFs (XLP, IYK) upon closing drives large passive outflows and basket reconstitution. Monitor FTC clearance as recall trigger.

LGND >> XOMA (Cash Acquisition) | Cash

KEY DATE	H2 2026
KEY EVENT	Definitive Agreement \| Vote/HSR Pending
EST. CLOSE	H2 2026
ANNOUNCED	~4/25/26

PRIORITY RATING 70 | TU 10 RF 22 FS 18 OE 20

ACTION TYPE	Cash Acquisition
DEAL VALUE	~$739M
STRUCTURE	Cash
TRADER TIER	EDGE

Ligand Pharmaceuticals ($39.00/share cash + CVR). CVR CONFIRMED: one non-transferable CVR per XOMA share entitling holders to 75% of net proceeds from XOMA's pending litigation (verify "net" definition against definitive merger agreement). Arb sizing anchored on cash leg only; CVR carries unhedgeable option-like value. XOMA shareholder vote and customary conditions pending. Mandatory recall at closing. Verify CVR settlement routing for short positions against the merger agreement before close. Source: XOMA/Ligand merger documentation confirmed subsequent to Apr 27 coverage.

LIEN >> REFI (Stock Merger (NAV-for-NAV)) | Stock

KEY DATE	H2 2026
KEY EVENT	Definitive Agreement Jun 18 \| NAV-for-NAV \| REFI elects BDC, merges into LIEN
EST. CLOSE	H2 2026
ANNOUNCED	6/18/26

PRIORITY RATING 60 | TU 10 RF 16 FS 18 OE 16

ACTION TYPE	Stock Merger (NAV-for-NAV)
DEAL VALUE	~$364M portfolio
STRUCTURE	Stock
TRADER TIER	EDGE

NEW Jun 22. Verified against the Chicago Atlantic BDC Form 8-K / 425 and joint PR dated June 18, 2026 (agreement dated June 17). Chicago Atlantic Real Estate Finance (Nasdaq: REFI) will elect BDC status and merge with and into Chicago Atlantic BDC (Nasdaq: LIEN), the surviving public BDC trading as LIEN on Nasdaq. All-stock, adjusted-NAV-for-NAV exchange; former REFI holders expected to own ~50.5% based on March 31, 2026 NAVs (final ratio set just before close). LIEN board to evaluate a $25M post-close repurchase. Cannabis-finance niche names with low float and HTB characteristics: stock-for-stock arb is long REFI / short LIEN at the NAV-derived ratio; LIEN carries hedge-borrow demand from arbs hedging the long-REFI leg while REFI carries corporate-action recall pressure into close. Both ride through to LIEN shares. Close H2 2026 subject to both stockholder votes and the NAV determination. Track the joint proxy / N-14 and meeting dates.

MCFT >> MPX (Cash/Stock Merger) | Cash/Stock

KEY DATE	H2 2026
KEY EVENT	S-4 Filed \| Shareholder Vote Pending
EST. CLOSE	H2 2026
ANNOUNCED	~2025

PRIORITY RATING 66 | TU 10 RF 18 FS 22 OE 16

ACTION TYPE	Cash/Stock Merger
DEAL VALUE	~$232.2M
STRUCTURE	Cash/Stock
TRADER TIER	EDGE

NEW Mar 25. MasterCraft Boat acquiring Marine Products Corp. S-4 filed March 16. $2.43 cash + 0.232 MCFT shares per MPX share (~$7.79 implied at announcement). Post-merger, former MPX holders own ~33.4% of combined entity. Both shareholder approvals required. Mixed consideration triggers basket options adjustment.

MoE >> CRBG (All-Stock Merger) | Stock

KEY DATE	Summer 2026
KEY EVENT	Shareholder Vote
EST. CLOSE	YE 2026
ANNOUNCED	3/26/26

PRIORITY RATING 48 | TU 6 RF 16 FS 10 OE 16

ACTION TYPE	All-Stock Merger
DEAL VALUE	~$22B
STRUCTURE	Stock
TRADER TIER	EDGE

UPDATED May 18. Corebridge Financial and Equitable Holdings all-stock merger. Combined entity: $1.5T AUM/AUA, 12M+ customers. Merger agreement dated March 26, 2026. LEADERSHIP ANNOUNCED MAY 12: Costantini named CEO; Pearson named Executive Chair. Material progression disclosed via 8-K and Form 425 filings on May 12, 2026. S-4 in preparation; shareholder vote targeted Summer 2026; close YE 2026. Stock-leg arb borrow demand active until close; monitor for further governance disclosures and exchange ratio confirmation in the definitive proxy.

MoE >> GETY (Stock Merger) | Stock

KEY DATE	H2 2026 (Cleared; Awaiting Close)
KEY EVENT	CMA Phase 2 Final Report May 15 \| Conditionally Cleared \| Path to H2 Close
EST. CLOSE	H2 2026
ANNOUNCED	1/7/26

PRIORITY RATING 56 | TU 10 RF 16 FS 14 OE 16

ACTION TYPE	Stock Merger
DEAL VALUE	$3.7B
STRUCTURE	Stock
TRADER TIER	EDGE

UPDATED Jun 8 (correction). DOJ cleared unconditionally Feb 23. The UK CMA issued its Phase 2 FINAL REPORT on May 15, 2026, ahead of the statutory deadline, and CONDITIONALLY CLEARED the merger. The June 14 date previously carried was the old deadline, not an event; the regulatory binary has resolved. Clearance is conditioned on divestment of Shutterstock's global editorial business to a CMA-approved purchaser (the narrower Backgrid/Splash paparazzi-only offer was found insufficient). This moves from pending-binary to cleared with a path to an H2 close. Stock-leg arb borrow demand on the Getty acquirer line continues until close; the remaining gating items are the editorial-business divestiture to an approved buyer and customary closing conditions. Monitor the divestiture-buyer approval and the closing timeline rather than the (now-passed) CMA decision date.

MoE >> WTRG (All-Stock Merger) | Stock

KEY DATE	Q1 2027 Close (Per Latest Guidance)
KEY EVENT	Ohio PUC Approval Received May 14 \| Other State Approvals Pending
EST. CLOSE	Q1 2027
ANNOUNCED	Prior 2026

PRIORITY RATING 46 | TU 4 RF 16 FS 6 OE 20

ACTION TYPE	All-Stock Merger
DEAL VALUE	TBD (combined ~$50B+ EV)
STRUCTURE	Stock
TRADER TIER	EDGE

NEW May 18 (prior announcement; activity in window). American Water Works and Essential Utilities all-stock merger of equals. Ohio Public Utilities Commission approval received May 14, 2026 per joint PR Newswire release. Both shareholder votes previously passed. Combined entity would serve more than 4.7 million water/wastewater connections and over 740,000 gas connections. Close expected end of Q1 2027 subject to remaining state regulatory approvals across multiple jurisdictions. Long-dated utility spread; each PUC approval milestone can shift borrow demand in either name. Stock-leg arb continues until close. Monitor state PUC dockets; track exchange ratio against acquirer/target price. Verify exchange ratio in definitive proxy.

MoE >> MKC (Reverse Morris Trust) | Cash/Stock (RMT)

KEY DATE	Mid-2027
KEY EVENT	Regulatory / Shareholder Approvals
EST. CLOSE	Mid-2027
ANNOUNCED	3/31/26

PRIORITY RATING 49 | TU 4 RF 19 FS 10 OE 16

ACTION TYPE	Reverse Morris Trust
DEAL VALUE	~$44.8B
STRUCTURE	Cash/Stock (RMT)
TRADER TIER	EDGE

DEFINITIVE RMT agreement confirmed March 31. McCormick combining with Unilever Foods business (excl. India, Nepal, Portugal). $15.7B cash + $29.1B in MKC equity. Post-close: UL shareholders ~55.1%, UL retained 9.9%, MKC shareholders ~35%. Combined ~$20B revenue. Combined leverage ~4.0x; target 3.0x within 2 yrs. Advisors: Goldman Sachs, Morgan Stanley, PwC (UL); Citi, Rothschild (MKC). RMT = complex settlement | UL spins Foods into new entity, then merges with MKC. Possible new CUSIP for combined co. Arb demand will build as proxy timeline crystallizes. Multi-jurisdiction regulatory clearance required. Works council consultation before closing.

MoE >> LCII (Reported MoE Discussions) | Stock (Reported)

KEY DATE	TBD
KEY EVENT	MoE Discussions Confirmed \| No Agreement
EST. CLOSE	TBD
ANNOUNCED	4/17/26

PRIORITY RATING 50 | TU 6 RF 12 FS 14 OE 18

ACTION TYPE	Reported MoE Discussions
DEAL VALUE	~$6.5B combined (Reported)
STRUCTURE	Stock (Reported)
TRADER TIER	EDGE

NEW Apr 17. LCI Industries (LCII) and Patrick Industries (PATK) confirmed via near-identical 8-Ks April 17 after market close that they are IN DISCUSSIONS regarding a potential merger of equals. 8-K language: no assurance any transaction will result from discussions or on what terms. Bloomberg separately reported structure is ALL-STOCK | MEDIA-REPORTED ONLY; NOT CONFIRMED IN COMPANY FILINGS. Both companies HQ in Elkhart, Indiana. End-market overlap: RV, marine, powersports, housing (PATK); outdoor recreation and transportation (LCII via Lippert). Market context Apr 17 close: PATK $106.93, market cap ~$3.54B; LCII market cap ~$3.0B; combined equity ~$6.5B. Both companies state they do not intend to comment further unless formal agreement reached or discussions terminate. Two positioning paths to pre-model (scenario framing, not prediction): (a) if definitive all-stock agreement filed at fixed exchange ratio, standard merger-arb setups emerge on both names; (b) if discussions terminate, both revert to pre-announcement fundamental exposure. VERIFY against definitive merger agreement when filed before treating structure as confirmed. No recall action until definitive agreement filed. Add LCII and PATK to M&A watchlist; monitor borrow rate and NFE spread for arb-positioning inflows.

NEE >> D (All-Stock Merger) | Stock

KEY DATE	12 to 18 Months (Multi-Agency Approvals)
KEY EVENT	Definitive Agreement May 18 \| S-4 Joint Proxy Pending \| FERC/NRC/State PUC Review
EST. CLOSE	H2 2027
ANNOUNCED	5/18/26

PRIORITY RATING 48 | TU 6 RF 16 FS 6 OE 20

ACTION TYPE	All-Stock Merger
DEAL VALUE	~$66B equity (combined ~$400B+ EV)
STRUCTURE	Stock
TRADER TIER	EDGE

NEW May 18. NextEra Energy and Dominion Energy announced definitive all-stock merger via joint PR Newswire release. Dominion holders receive 0.8138 NEE share per D share. Pro forma ownership 74.5 percent NextEra / 25.5 percent Dominion. Combined entity would be the world's largest regulated electric utility business. Closing expected 12 to 18 months subject to shareholder votes (both companies), HSR antitrust clearance, FERC Section 203 approval, NRC license-transfer approval (Surry, North Anna nuclear units), and multi-state utility commission approvals (Virginia, North Carolina, South Carolina, others). Form S-4 joint proxy / prospectus in preparation. Stock-leg arb borrow demand expected to build into proxy distribution; long regulatory duration is core spread-risk driver. Monitor multi-state PUC dockets, FERC filings, and NRC license-transfer docket for milestone events. Major utility merger with deep S&P 500 index implications at close.

OLN >> HUN (Stock Merger (MoE)) | Stock

KEY DATE	1H 2027
KEY EVENT	Definitive MoE Jun 15 \| 0.5476 OLN per HUN \| S-4 / Vote Pending
EST. CLOSE	1H 2027
ANNOUNCED	6/16/26

PRIORITY RATING 52 | TU 6 RF 16 FS 10 OE 20

ACTION TYPE	Stock Merger (MoE)
DEAL VALUE	~$12.5B
STRUCTURE	Stock
TRADER TIER	EDGE

NEW Jun 22. Verified against the Olin Form 8-K / Form 425 and the joint PR Newswire release dated June 16, 2026 (agreement dated June 15). All-stock merger of equals: Huntsman holders receive 0.5476 Olin shares per HUN share, an at-the-market ratio struck on trailing 30-day VWAPs as of June 12. Combined company renamed OlinHuntsman Corporation (NYSE), ~$12.5B pro forma 2025 revenue, more than $400M cost synergies plus ~$125M cash tax benefits; Olin holders own ~54.5% and Huntsman holders ~45.5% post-close. Ken Lane CEO; Peter Huntsman non-executive chair; HQ The Woodlands, TX. Boards unanimous; close expected 1H 2027 subject to both shareholder votes and regulatory approvals; S-4 joint proxy in preparation. Classic stock-for-stock arb: long HUN / short OLN at 0.5476. OLN carries the hedge-borrow demand from arbs hedging the long-HUN leg while HUN carries corporate-action recall pressure into close. Both names ride through to OLN shares; no cash leg. Add OLN to the borrow watchlist; track the S-4 and meeting dates.

P/E >> JHG (Take-Private) | Cash

KEY DATE	Mid-2026
KEY EVENT	Shareholder Vote (Date TBD)
EST. CLOSE	Mid-2026
ANNOUNCED	~Oct 2025

PRIORITY RATING 68 | TU 14 RF 22 FS 14 OE 18

ACTION TYPE	Take-Private
DEAL VALUE	~$7.4B
STRUCTURE	Cash
TRADER TIER	EDGE

NEW Mar 25. PRICE RAISED: Trian/General Catalyst raised take-private from $49.00 to $52.00/share (25% prem to unaffected Oct 24, 2025 price). Victory Capital (VCTR) withdrew competing $57.04/share bid on March 24 | JHG board reaffirmed Trian deal as sole actionable offer. Limited quarterly dividends permitted if close extends past June 30. Employee equity rollover allowed. ADD TO HOT LIST. Expect increased arb borrow demand as spread narrows to $52.

P/E >> EA (LBO (Cash)) | Cash

KEY DATE	By Jun 30, 2026
KEY EVENT	Closing Window Active (HSR Cleared Feb 9; $8B bond financing placed)
EST. CLOSE	Q2 2026 / by Jun 30
ANNOUNCED	9/29/25

PRIORITY RATING 55 | TU 6 RF 25 FS 6 OE 18

ACTION TYPE	LBO (Cash)
DEAL VALUE	$55.0B
STRUCTURE	Cash
TRADER TIER	EDGE

HSR WAITING PERIOD EXPIRED February 9, 2026. Go-shop closed Feb with no competing bid. PIF + Silver Lake + Affinity Partners consortium. Shareholder vote approved. EA targeting close April-June 2026 (Q1 of EA FY ending Mar 31, 2027). EA shares will be delisted from Nasdaq upon closing. $210/share all-cash (~$55B EV). All-cash take-private = mandatory recall at closing and delisting. Begin winding down EA loan positions | closing window ACTIVE (imminent). Availability may tighten.

P/E >> AES (Take-Private) | Cash

KEY DATE	Late 2026
KEY EVENT	Regulatory / Shareholder Vote
EST. CLOSE	Late 2026
ANNOUNCED	~2025

PRIORITY RATING 56 | TU 8 RF 22 FS 10 OE 16

ACTION TYPE	Take-Private
DEAL VALUE	~$10.7B equity / $33.4B EV
STRUCTURE	Cash
TRADER TIER	EDGE

UPDATED Apr 9. Consortium: GIP (BlackRock), EQT Infrastructure VI, CalPERS, Qatar Investment Authority. 100% equity-financed; no financing contingency. $15.00/share all-cash (40.3% prem to 30-day VWAP). DEF 14A filed Mar 20. Close late 2026/early 2027 subject to FERC, state PUCs, CFIUS. AES is current S&P 500 constituent | removal upon delisting forces index fund rebalancing. Held in XLU, ICLN, QCLN. Stock dropped 17% on announcement reflecting \$15 price skepticism. Regulatory complexity across multiple jurisdictions creates genuine deal-break risk. Political opposition in Indiana. All-cash take-private = mandatory close-out. UPGRADE TO HIGH.

P/E >> AVNS (Take-Private) | Cash

KEY DATE	TBD (Vote Pending)
KEY EVENT	Annual Meeting Postponed \| HSR + Vote Pending
EST. CLOSE	H2 2026
ANNOUNCED	4/14/26

PRIORITY RATING 66 | TU 6 RF 22 FS 18 OE 20

ACTION TYPE	Take-Private
DEAL VALUE	~$1.272B EV
STRUCTURE	Cash
TRADER TIER	EDGE

Avanos Medical definitive Agreement and Plan of Merger dated April 13, 2026 with affiliates of American Industrial Partners (operationally-oriented PE firm) at $25.00/share all-cash. Enterprise value ~$1.272B. Premium: 72.1% to April 13 close (~$14.53); 82.8% to 30-day VWAP. Medical technology (enteral feeding, non-opioid pain management). TERMINATION FEE $37.5M (payable by Avanos in superior-proposal scenarios). NOT SUBJECT TO FINANCING CONDITION. ANNUAL MEETING POSTPONED from April 21, 2026 pending transaction close | eliminates standalone shareholder vote pathway; merger vote now the only route. Closing expected H2 2026, subject to HSR and customary regulatory clearances. Post-close: AVNS delists from NYSE. S&P SmallCap 600 constituent and IJR top-10 holder | removal triggers rebalancing across IJR, VIOO, SPSM. Short interest ~3.4M shares / 7.7% of float. AIP not publicly traded | no acquirer-side arb leg. All-cash PE structure = mandatory recall at closing. Long arb holding period expected into H2 2026. Monitor for preliminary proxy (DEFM14A) and HSR filing dates as near-term milestones.

PB >> STEL (Cash/Stock Merger) | Cash/Stock

KEY DATE	~Jul 1, 2026
KEY EVENT	Vote Approved May 27 \| Await Close (~Jul 1)
EST. CLOSE	~Jul 1, 2026
ANNOUNCED	1/27/26

PRIORITY RATING 68 | TU 20 RF 18 FS 14 OE 16

ACTION TYPE	Cash/Stock Merger
DEAL VALUE	$2.0B
STRUCTURE	Cash/Stock
TRADER TIER	EDGE

PB/STEL announced Apr 22 receipt of ALL required regulatory approvals (Federal Reserve waiver, FDIC, Texas Dept. of Banking). S-4 declared effective Apr 21; proxy mailing began ~Apr 23. STEL special meeting May 27, 2026; close expected ~Jul 1. Per-share: $11.36 cash + 0.3803 PB shares (~70% stock / ~30% cash; ~$2.0B total). $78M termination fee. Mixed cash/stock arb: long STEL / short PB at 0.3803 ratio. With reg approvals in hand, deal certainty materially increased | arb positions firming now. Board unanimous; ~8.8% of shares under voting agreements. STEL held in regional bank ETFs (KRE, KBE, IAT) | rebalancing required upon delist. Monitor PB borrow for arb-driven firming.

PEBO >> CZNL (Cash/Stock Merger) | Cash/Stock

KEY DATE	TBD
KEY EVENT	8-K Filed \| Terms in Exhibit 99.4 / Merger Agreement
EST. CLOSE	TBD
ANNOUNCED	4/20/26

PRIORITY RATING 54 | TU 6 RF 18 FS 14 OE 16

ACTION TYPE	Cash/Stock Merger
DEAL VALUE	TBD (terms pending)
STRUCTURE	Cash/Stock
TRADER TIER	EDGE

NEW Apr 22. Peoples Bancorp Inc. 8-K Item 8.01 filed Apr 21 disclosing Agreement and Plan of Merger dated April 20 with Citizens National Corporation (OTCPK: CZNL), parent of Citizens Bank of Kentucky (12 KY branches). Cash-and-stock merger combining Citizens into Peoples and Citizens Bank of Kentucky into Peoples Bank. Specific per-share consideration, aggregate deal value, and proration mechanics NOT detailed in the 8-K body text | operative disclosures in Merger News Release Exhibit 99.4 and the merger agreement (pending filing). CZNL is OTCPK-listed small community bank | borrow is minimal and not a lending-desk focus. PEBO may see modest index-driven demand depending on pro-forma market cap. Stock portion (subject to any exchange ratio) permits ride-through to PEBO shares; cash election portion triggers mandatory recall at closing. Election mechanics (proration, caps) govern effective recall volume | not ascertainable until exhibit review. Pull Exhibit 99.4 and merger agreement for exact terms and expected closing date.

PRIVATE >> LSTA (Cash Tender + CVR) | Cash

KEY DATE	Jul 10, 2026
KEY EVENT	Tender Commenced Jun 10 \| $4.00 Cash + CVR \| Expires Jul 10
EST. CLOSE	Q3 2026
ANNOUNCED	3/6/26

PRIORITY RATING 82 | TU 18 RF 22 FS 22 OE 20

ACTION TYPE	Cash Tender + CVR
DEAL VALUE	~$36.7M + CVR
STRUCTURE	Cash
TRADER TIER	EDGE

UPDATED Jun 22. Verified vs Lisata 8-K, SC 14D-9, and amended Merger Agreement. Kuva Acquisition Corp. (subsidiary of privately held Kuva Labs Inc.) commenced the all-cash tender offer on June 10, 2026 to acquire all Lisata shares at $4.00 per share cash (amended down from the original $5.00 announcement) plus one non-tradeable CVR worth up to $3.00 per share aggregate ($1.00 on certepetide Greater China reversion within 12 months; further milestone payments on NDA filing / GBM trial enrollment). Tender expires July 10, 2026; Section 251(h) back-end merger; ~$36.7M equity, ~85% premium. Close expected Q3 2026 subject to majority tender and customary conditions; Nasdaq delist on close. ALL-CASH (CVR non-cash) tender = MANDATORY RECALL AT CLOSING; the borrow-relevant name is the target, LSTA. Kuva is private, no acquirer short leg. Set lending-agent calendar against the July 10 expiry; track the Schedule TO and 14D-9.

PRIVATE >> RLYB (Reverse Merger) | Stock + Reverse Split

KEY DATE	Q2-Q3 2026
KEY EVENT	S-4/A Filed Apr 24 \| Vote / Close Pending
EST. CLOSE	Q2-Q3 2026
ANNOUNCED	4/24/26

PRIORITY RATING 62 | TU 14 RF 14 FS 18 OE 16

ACTION TYPE	Reverse Merger
DEAL VALUE	~$505.5M Financing
STRUCTURE	Stock + Reverse Split
TRADER TIER	EDGE

S-4/A (amendment) filed Apr 24. Reverse merger with private Candid Therapeutics (Candid survives as subsidiary; combined entity expected ticker CDRX). 1-for-2.5 RLYB reverse split contemplated; assumed exchange ratio ~0.0716 post-split. $505.5M concurrent financing committed. Pro forma ownership: Candid holders ~57.55%, financing investors ~38.8%, RLYB holders ~3.65%. Heavy dilution; share conversion + new issuance materially expands supply post-close. Watch S-4/A effectiveness and vote scheduling for borrow-demand inflection.

PSA >> NSA (All-Stock Merger) | Stock

KEY DATE	Q3 2026
KEY EVENT	NSA Shareholder Vote (TBD)
EST. CLOSE	Q3 2026
ANNOUNCED	3/16/26

PRIORITY RATING 56 | TU 14 RF 16 FS 10 OE 16

ACTION TYPE	All-Stock Merger
DEAL VALUE	~$10.5B
STRUCTURE	Stock
TRADER TIER	EDGE

NEW Mar 20. 0.14 PSA shares per NSA share (~35% premium). ~$57B pro forma equity mkt cap. JV of 313 NSA properties. Termination fee ~$202M. Rule 425 confirms accelerated vesting of NSA restricted shares/LTIP units. NSA on Watchlist.

PSH >> UMG.AS (Reported Unsolicited Offer) | Cash/Stock (Reported)

KEY DATE	TBD
KEY EVENT	REPORTED Unsolicited Proposal \| UMG Board Rejected; Bolloré Opposition
EST. CLOSE	TBD
ANNOUNCED	~Apr 2026 (rejection in window)

PRIORITY RATING 46 | TU 6 RF 12 FS 10 OE 18

ACTION TYPE	Reported Unsolicited Offer
DEAL VALUE	~$64-65B (~EUR 55B)
STRUCTURE	Cash/Stock (Reported)
TRADER TIER	EDGE

NEW (per user direction). Pershing Square cash-and-stock proposal valued Universal Music Group ~EUR 30.4/share (~EUR 55B). UMG board rejected; major holder Bolloré reportedly opposed. NOT a signed definitive transaction; reference/event watch only. UMG ordinary (Euronext Amsterdam) / ADR borrow, event-volatility, and SPARC-related positioning may matter. No recall obligation; monitor for any revised or firm offer.

RIG >> VAL (Stock Merger) | Stock

KEY DATE	H2 2026
KEY EVENT	Dual Shareholder Votes (Bermuda Scheme)
EST. CLOSE	H2 2026
ANNOUNCED	2/9/26

PRIORITY RATING 58 | TU 10 RF 16 FS 14 OE 18

ACTION TYPE	Stock Merger
DEAL VALUE	$5.8B
STRUCTURE	Stock
TRADER TIER	EDGE

15.235x ratio = massive RIG short demand. Dual shareholder votes (Bermuda scheme). 73-rig combined fleet, ~$10B backlog. RIG borrow expected to escalate. Bermuda court hearings are additional procedural steps.

RUM >> Northern (Exchange Offer (Cross-Border)) | Share Exch.

KEY DATE	Post-Acceptance (Settlement/Delist)
KEY EVENT	Additional Acceptance Period Ended Jun 1 \| Settlement / Northern Data Delisting Pending
EST. CLOSE	Jun 2026
ANNOUNCED	Prior 2026

PRIORITY RATING 68 | TU 20 RF 12 FS 18 OE 18

ACTION TYPE	Exchange Offer (Cross-Border)
DEAL VALUE	TBD (~$1.3B est.)
STRUCTURE	Share Exch.
TRADER TIER	EDGE

NEW May 18. Rumble exchange offer for Northern Data (German target; XETRA listing) continued into additional acceptance period May 15 to June 1, 2026. Initial results showed Rumble had secured approximately 81.3 percent including committed shares. Each Northern Data share receives 2.0281 newly issued Rumble Class A shares. Per SEC Form 425 filing dated May 13. Northern Data trading expected to terminate after close, reducing liquidity for non-tendered shares. Cross-border (German target on XETRA, US public acquirer). RUM issuance creates hedge borrow demand on settlement; Northern Data residual liquidity and cross-border settlement mechanics require attention. Watch for any final extension and post-close delisting timeline.

SOUN >> LPSN (All-Stock Merger + Notes Restructuring) | Stock

KEY DATE	H2 2026
KEY EVENT	Definitive Apr 21 \| All-Stock Collar / S-4 Pending
EST. CLOSE	H2 2026
ANNOUNCED	4/21/26

PRIORITY RATING 70 | TU 10 RF 16 FS 22 OE 22

ACTION TYPE	All-Stock Merger + Notes Restructuring
DEAL VALUE	~$43M equity / ~$250M EV
STRUCTURE	Stock
TRADER TIER	EDGE

Definitive agreement Apr 21: SoundHound AI (SOUN) acquires LivePerson all-stock. LPSN equity value $43M (~22% premium to 30-day VWAP); total EV ~$250M after debt restructuring. Consideration: SOUN Class A stock via 10-day VWAP formula with $7 floor / $12 cap. Concurrent debt restructuring: ~$260M LPSN first/second-lien noteholders exchange into SOUN stock + cash. Close H2 2026; outside date Oct 2026 (extendable to Dec 2026). All-stock arb setup: long LPSN / short SOUN. Capped/floored VWAP requires dynamic exchange ratio modeling | more active hedging and borrow churn on SOUN than fixed-ratio deal. Concurrent notes restructuring adds execution conditions. SOUN equity has been volatile (~-54% over six months); monitor SOUN price relative to $7-$12 VWAP band for ratio sensitivity. Add SOUN to borrow watchlist for HARDER rebates as arb short builds.

SPINOFF >> CTVA (Spin-Off) | Distribution

KEY DATE	Q4 2026
KEY EVENT	Spin-Off Separation \| Form 10 Pending
EST. CLOSE	Q4 2026
ANNOUNCED	10/1/25

PRIORITY RATING 49 | TU 8 RF 19 FS 6 OE 16

ACTION TYPE	Spin-Off
DEAL VALUE	~$57B parent mkt cap
STRUCTURE	Distribution
TRADER TIER	EDGE

NEW Apr 15. Corteva tax-free spin-off advancing toward Q4 2026 separation. Three 8-Ks filed April 14, 2026 announcing executive leadership for both successor entities. 'New Corteva' | crop protection (~$7.8B revenue), led by Luke Kissam (former Albemarle CEO, joining June 1). 'SpinCo' | advanced seed and genetics (~$9.9B revenue, Pioneer brand), led by current CEO Chuck Magro. Investor Day scheduled September 15, 2026 at NYSE. CTVA is S&P 500 constituent in XLB (Materials). Separation will require S&P to assign both successor entities | triggers rebalancing in SPY, XLB, broad-market funds. Full spin-off lifecycle awareness required: recall timing at record date, manufactured payment tax treatment (SpinCo distribution taxed as ordinary income for borrowers, not qualified dividend), DTC due-bill processing, CUSIP transition and reconciliation, fail risk. Both entities need CUSIP assignment. Q4 target still subject to board final approval, tax opinion, regulatory conditions; Corteva retains right to abandon separation. Monitor for Form 10 filing (SpinCo registration) and record date announcement | these are the operational triggers.

SPINOFF >> ABF (Dividend Demerger (Primark Separation)) | Distribution

KEY DATE	Before end-2027
KEY EVENT	Primark Spin-Off from FoodCo \| Watchlist
EST. CLOSE	Before 12/31/27
ANNOUNCED	4/21/26

PRIORITY RATING 53 | TU 4 RF 19 FS 14 OE 16

ACTION TYPE	Dividend Demerger (Primark Separation)
DEAL VALUE	N/A (dividend demerger)
STRUCTURE	Distribution
TRADER TIER	EDGE

NEW Apr 22. Associated British Foods (LSE: ABF) confirmed Apr 21 that Board approved dividend demerger of Primark retail business from food business ("FoodCo"). On completion, ABF shareholders hold shares in both entities. Both post-demerger entities expected to seek FTSE 100 inclusion (subject to FTSE Russell review; depends on free float, market cap, liquidity at effective date). FoodCo retains Associated British Foods plc name; Wittington Investments (majority shareholder) maintains majority ownership of both. Target effective date: BEFORE END OF CALENDAR 2027, subject to approvals and tax clearances. Advisors: Rothschild & Co (lead), Barclays, UBS. Both entities expected on LSE Equity Shares (Commercial Companies) category. ABF US ADR holders and ETF baskets holding ABF (multiple UK/European large-cap and FTSE 100 index products) face a 2027 basket disturbance. FTSE 100 index sleeves will account for replacement of one constituent with two. Timing is 2026-2027 | no immediate lending-desk action.

TBD >> SHCO (Take-Private) | Cash

KEY DATE	TBD
KEY EVENT	Take-Private \| Delisting Pending
EST. CLOSE	TBD
ANNOUNCED	~Mar 2026

PRIORITY RATING 62 | TU 6 RF 22 FS 14 OE 20

ACTION TYPE	Take-Private
DEAL VALUE	TBD
STRUCTURE	Cash
TRADER TIER	EDGE

NEW Mar 27. Soho House & Co. (SHCO) definitive agreement for take-private transaction. Delisting pending as transaction advances. Lendable float will contract rapidly. KEEP ON HARD-RECALL WATCH. Review all outstanding SHCO loans ahead of delisting milestones. Full deal terms TBD | confirm from 8-K filing.

UNP >> NSC (Regulatory Review) | Stock/Cash

KEY DATE	Jul 27, 2026 (Supplemental Info Due)
KEY EVENT	STB Accepted Revised Application May 28 \| Held in Abeyance \| Supplemental Info Due Jul 27
EST. CLOSE	2027+ (Schedule TBD)
ANNOUNCED	12/19/25

PRIORITY RATING 54 | TU 14 RF 16 FS 6 OE 18

ACTION TYPE	Regulatory Review
DEAL VALUE	$85.0B
STRUCTURE	Stock/Cash
TRADER TIER	EDGE

UPDATED Jun 8 (correction). $85B stock-and-cash rail combination ($50.00 cash + 0.8500 UNP per NSC share). The June 22 full-application date previously carried is no longer operative: UP and NS filed a revised application Apr 30, and on May 28, 2026 the STB accepted it for consideration, placed the proceedings (including environmental review) in abeyance, and ordered applicants to submit supplemental information by July 27, 2026. The next real milestone is the July 27 supplemental-information deadline; the Board will set a procedural schedule in a future decision, so the merits review and close are long-dated. The arb is long NSC / short UNP at the cash-plus-stock ratio, so UNP draws borrow demand from arbs hedging the long-NSC leg while the extended regulatory duration keeps the spread wide. Track the STB FD 36873 docket for the supplemental filing and the subsequent procedural schedule.

USAR >> USAR (Acquisition (Cash + Stock)) | Cash/Stock

KEY DATE	Q3 2026
KEY EVENT	Definitive Agreement \| Close Pending
EST. CLOSE	Q3 2026
ANNOUNCED	4/20/26

PRIORITY RATING 68 | TU 14 RF 18 FS 14 OE 22

ACTION TYPE	Acquisition (Cash + Stock)
DEAL VALUE	~$2.8B
STRUCTURE	Cash/Stock
TRADER TIER	EDGE

NEW Apr 21. USA Rare Earth definitive agreement (Apr 20) to acquire 100% of Serra Verde Group, owner of the Pela Ema rare earth mine and processing plant in Goiás, Brazil. Consideration: $300M cash + 126,849,000 newly issued USAR shares; at Apr 17 close of $19.95 implies ~$2.8B equity value. Share-count expansion ~50% relative to pre-announcement outstanding base. USAR is a well-established HTB/special in the ASC benchmark set. 15-year 100% offtake agreement with a US-government-capitalized SPV with price floors for Nd/Pr/Dy/Tb. Serra Verde CEO Thras Moraitis becomes USAR President; Sir Mick Davis (Serra Verde Chair) joins USAR Board. Advisors: Moelis (USAR, financial), Latham & Watkins (USAR, legal); Goldman Sachs (Serra Verde, financial), White & Case (Serra Verde, legal); Allen Overy Shearman Sterling (Serra Verde shareholders, legal). USAR closed Apr 20 at $22.58 (+13.18%) on 42.7M volume (~118% above 3-month avg). Closing targeted Q3 2026 subject to customary conditions and regulatory approvals (CFIUS specifically). Stock-for-stock consideration does NOT force close-out of short positions; loaned shares receive standard operational handling at the exchange ratio, but ~50% share-count expansion materially expands pro-forma float at close. Near-term: elevated specialness may persist as shorts reassess thesis against offtake/government-backing overlay. Russell-tier rebalancing is a live watch-item (inference only). Monitor utilization, DTA, RLA, unit flow, and short-stress markers through pre-close window.

WFRD >> NCSM (Cash/Stock Election Merger) | Cash/Stock Election

KEY DATE	H2 2026 (S-4 Pending)
KEY EVENT	Definitive Agreement Jun 1 \| Stock or Stock/Cash Election \| S-4 Pending
EST. CLOSE	H2 2026
ANNOUNCED	5/2026

PRIORITY RATING 58 | TU 4 RF 16 FS 18 OE 20

ACTION TYPE	Cash/Stock Election Merger
DEAL VALUE	~0.463x WFRD blended (≤19.99% cash)
STRUCTURE	Cash/Stock Election
TRADER TIER	EDGE

NEW Jun 8. Verified against the Weatherford/NCS Multistage joint press release and NCSM Form 8-K (Item 8.01) dated June 1, 2026. Weatherford agreed to acquire NCS Multistage; NCSM stockholders elect Weatherford common stock or a combination of stock and cash, blended to the equivalent of 0.463 WFRD shares per NCSM share with up to 19.99% payable in cash. Expected close H2 2026 subject to regulatory approvals; Weatherford intends to file a Form S-4. Classic merger-arb borrow: long NCSM / short WFRD as the hedge leg. WFRD borrow demand comes from arbs hedging the long-NCSM leg; monitor election mechanics, the 19.99% cash cap and proration, and short-base growth. Confirm final exchange-ratio mechanics and the meeting date against the S-4 when filed.

ON >> SYNA (Stock Merger) | Stock

KEY DATE	Mid-2027 (Long Pendency)
KEY EVENT	Definitive Jun 25 │ All-Stock 1.350 ON per SYNA │ ~19% Premium │ Close Mid-2027
EST. CLOSE	Mid-2027
ANNOUNCED	6/25/26

PRIORITY RATING 60 │ TU 10 RF 14 FS 18 OE 18

ACTION TYPE	Stock Merger
DEAL VALUE	~$7.0B EV
STRUCTURE	Stock (1.350x)
TRADER TIER	EDGE

NEW Jun 29. Verified vs onsemi / Synaptics Form 425 and 8-K (June 25, 2026). All-stock transaction at a fixed 1.350 ON shares per SYNA share, ~$7.0 billion enterprise value, ~19% premium to 10-day VWAP; SYNA holders end with ~12% of the combined company. The live arb is long SYNA / short ON, so ON is the borrow-relevant hedge leg (arb short demand flows through the ON acquirer ticker) while SYNA carries recall from corporate-action mechanics at closing. Close expected mid-2027 subject to SYNA vote, antitrust and foreign-investment clearances, tax opinions and S-4 effectiveness; long pendency keeps the stock-leg borrow demand persistent. SYNA $235M / ON $320M termination fees.

PLD >> SEGRO (Stock Merger (Proposed)) | Stock

KEY DATE	TBD (Proposal Rejected)
KEY EVENT	Rejected All-Share Proposal │ 0.084 PLD per SEGRO │ ~925p (~£12.6B)
EST. CLOSE	TBD
ANNOUNCED	6/2026

PRIORITY RATING 46 │ TU 4 RF 12 FS 16 OE 14

ACTION TYPE	Stock Merger (Proposed)
DEAL VALUE	~£12.6B
STRUCTURE	Stock (0.084x)
TRADER TIER	EDGE

NEW Jun 29. REPORTED. Prologis made a rejected all-share proposal for SEGRO at 0.084 PLD shares per SEGRO share, implying ~925p and ~£12.6 billion. If Prologis proceeds, the arb is long SEGRO / short PLD; cross-border borrow demand flows through the PLD acquirer leg and UK Takeover Code (PUSU) timing governs. Currently rejected: EDGE watch only, no live recall until a firm Rule 2.7 offer. Confirm against any RNS / Rule 2.4 or 2.7 announcement before escalating.

SQUEEZE (23 deals)

DESPAC >> SPKL (De-SPAC Business Combination) | De-SPAC

KEY DATE	H2 2026
KEY EVENT	BCA Jun 11 \| ZincFive Battery \| S-4 Framework \| Expected Nasdaq ZFIV
EST. CLOSE	H2 2026
ANNOUNCED	6/11/26

PRIORITY RATING 48 | TU 10 RF 12 FS 18 OE 8

ACTION TYPE	De-SPAC Business Combination
DEAL VALUE	$600M pre / ~$752M EV
STRUCTURE	De-SPAC
TRADER TIER	SQUEEZE

NEW Jun 22. Verified against the Spark I Acquisition Corp. Form 8-K / 425 dated June 11, 2026. ZincFive, Inc. (nickel-zinc immediate-power batteries for data-center / AI infrastructure; ~$66.9M 2025 revenue) will go public via business combination with Spark I (Nasdaq: SPKL), $600M pre-money equity value and ~$752M pro forma EV; expected to trade Nasdaq as ZFIV. Outside date June 11, 2027. De-SPAC borrow event: monitor SPKL redemptions ahead of the vote, warrant activity, and post-close borrow tightness on the thin legacy float at ZFIV. Forward-calendar on the SPAC / De-SPAC Monitor.

DESPAC >> IPFX (De-SPAC Business Combination) | De-SPAC + Convertible PIPE

KEY DATE	Q4 2026 (Vote Pending)
KEY EVENT	Business Combination Agreement Jun 8 \| $300M Convertible PIPE \| Expected Nasdaq QSPC
EST. CLOSE	Q4 2026
ANNOUNCED	6/8/26

PRIORITY RATING 50 | TU 12 RF 12 FS 18 OE 8

ACTION TYPE	De-SPAC Business Combination
DEAL VALUE	~$1.2B (post-deal equity)
STRUCTURE	De-SPAC + Convertible PIPE
TRADER TIER	SQUEEZE

NEW Jun 15. Verified against the Inflection Point Acquisition Corp. VI Form 8-K and Form 425 dated June 8, 2026. Quantum Space (cislunar / maneuverable-spacecraft developer, CEO Jim Bridenstine) will go public via business combination with IPFX: $600M pre-money, ~$1.2B post-transaction equity assuming no redemptions, ~$253M in trust plus a $300M convertible PIPE at $12.00; expected to trade Nasdaq as QSPC, close Q4 2026 subject to IPFX shareholder vote. Capital stack is preferred-heavy ($50M Series B pre-funded PIPE; $250M Series A cumulative convertible preferred, 10-12% cash/PIK, senior, full-ratchet anti-dilution to a $7.00 floor), prioritizing preferred over common. De-SPAC borrow event: monitor IPFX redemptions ahead of the vote (thin post-close float on heavy redemptions), warrant activity, the convertible-PIPE delta-hedge demand, and abrupt post-close borrow tightness on QSPC. Forward-calendar on the SPAC / De-SPAC Monitor.

DESPAC >> SVAQ (De-SPAC Business Combination) | De-SPAC

KEY DATE	Q4 2026
KEY EVENT	BCA Jun 17 \| EigenQ Quantum \| S-4 Pending \| Expected Nasdaq EIGQ
EST. CLOSE	Q4 2026
ANNOUNCED	6/17/26

PRIORITY RATING 50 | TU 12 RF 12 FS 18 OE 8

ACTION TYPE	De-SPAC Business Combination
DEAL VALUE	~$3B EV
STRUCTURE	De-SPAC
TRADER TIER	SQUEEZE

NEW Jun 22. Verified against the Silicon Valley Acquisition Corp. Form 8-K / 425 dated June 17, 2026. EigenQ Inc. (quantum security / post-quantum technology) will go public via business combination with SVAQ at ~$3B pro forma EV; ~$215M in trust pre-redemptions plus a potential PIPE / private placement (conversion $12.00), ~$110M expected gross proceeds; expected to trade Nasdaq as EIGQ. Close Q4 2026 subject to SVAQ and EigenQ votes and Form S-4 effectiveness. De-SPAC borrow event: monitor SVAQ redemptions ahead of the vote (thin post-close float on heavy redemptions), warrant activity, PIPE delta-hedge demand, and abrupt post-close borrow tightness on EIGQ. Forward-calendar on the SPAC / De-SPAC Monitor.

DESPAC >> GRAF (De-SPAC Business Combination) | De-SPAC

KEY DATE	Q4 2026
KEY EVENT	BCA Jun 12 \| BIG3 Basketball \| Extension Vote by Jun 27 \| Expected NYSE TONT
EST. CLOSE	Q4 2026
ANNOUNCED	6/13/26

PRIORITY RATING 50 | TU 12 RF 12 FS 18 OE 8

ACTION TYPE	De-SPAC Business Combination
DEAL VALUE	~$290M pre-money
STRUCTURE	De-SPAC
TRADER TIER	SQUEEZE

NEW Jun 22. Verified against the Graf Global Corp. Form 8-K / 425 dated June 12, 2026. BIG3 HoldCo LLC (professional 3-on-3 basketball league, co-founders OShea Jackson (Ice Cube) and Jeff Kwatinetz) will go public via business combination with Graf Global Corp. (NYSE American: GRAF); BIG3 valued ~$290M pre-money before earnouts; combined company to be named Big3 Basketball Holdings, Inc., expected ticker TONT. Trust ~$249M as of June 10; closing conditioned on a $50M minimum net-cash threshold after redemptions and on a GRAF extension vote by June 27, 2026. Close expected Q4 2026. De-SPAC borrow event: monitor GRAF redemptions and the June 27 extension vote, warrant activity, and post-close borrow on the thin legacy float. Forward-calendar on the SPAC / De-SPAC Monitor.

IPO >> LCLN (Proposed IPO) | Equity Issuance

KEY DATE	TBD (S-1 Effectiveness)
KEY EVENT	S-1 Filed Apr 24 \| NYSE Listing Pending
EST. CLOSE	TBD
ANNOUNCED	4/24/26

PRIORITY RATING 55 | TU 6 RF 9 FS 22 OE 18

ACTION TYPE	Proposed IPO
DEAL VALUE	TBD
STRUCTURE	Equity Issuance
TRADER TIER	SQUEEZE

Lincoln International filed S-1 Apr 24 for proposed NYSE IPO under ticker LCLN. Mid-market investment bank (~$784M 2025 revenue, ~$214M net income). Standard IPO with new shares + typical 180-day insider/pre-IPO lockups. New public float creation; lendable supply broadens at listing (limited initial supply) and again at lockup expiration. Add to IPO pipeline watch.

IPO >> SPCX (Proposed IPO) | Equity Issuance

KEY DATE	Tranche 1 (Post-Q2 Earnings) │ 180-Day Dec 8
KEY EVENT	Listed Nasdaq Jun 12 ($135 -> ~$161 close) \| First Lockup Release ~Aug (Earnings-Triggered)
EST. CLOSE	Listed Jun 12, 2026
ANNOUNCED	5/20/26 (S-1)

PRIORITY RATING 53 | TU 20 RF 9 FS 6 OE 18

ACTION TYPE	Proposed IPO
DEAL VALUE	~$75B raise (~$1.77T val.)
STRUCTURE	Equity Issuance
TRADER TIER	SQUEEZE

UPDATED Jun 15. Verified vs SpaceX S-1/A and June 11 pricing terms. SpaceX priced at a fixed $135.00 on June 11 and began Nasdaq trading under SPCX on June 12, 2026, closing its first session near $161 (up ~19%); ~$75B raised on 555.6M new shares at a ~$1.77T valuation, the largest IPO on record, with an 83.3M-share greenshoe. The borrow story is now the tiered, non-standard lockup ladder rather than the listing: an early-release tranche of up to ~20% (some provisions toward 30%) after the first earnings report (expected late July/August), additional rolling unlocks through Q4, a full 180-day expiration around December 2026, and Elon Musk plus select major holders locked until ~June 2027. Minimal lendable float at issuance means hot/special borrow with high rerate potential now, easing as each tranche converts locked stock to lendable supply. The August earnings-triggered release and the December cliff are the two structural inflection points. Textbook T-Series staggered-supply case; forward-calendar the tranches on the IPO Lockup Monitor.

ISSUER >> MANE (Secondary Offering Closed + IPO Lock-Up Monitor) | Equity Issuance (Secondary)

KEY DATE	Aug 2, 2026
KEY EVENT	IPO Lock-Up Expiry Aug 2 (~20M shares) \| Primary Supply Event
EST. CLOSE	~Aug 2, 2026
ANNOUNCED	Closed May 1, 2026

PRIORITY RATING 67 | TU 14 RF 13 FS 22 OE 18

ACTION TYPE	Secondary Offering Closed + IPO Lock-Up Monitor
DEAL VALUE	~$384.4M (3,843,790 sh @ $100.00)
STRUCTURE	Equity Issuance (Secondary)
TRADER TIER	SQUEEZE

Veradermics $384M secondary offering closed May 1 (3,843,790 shares at $100.00; concurrent PIPE with Suvretta Capital affiliates). Dual lock-up calendar: (1) ~Jul 30, 2026 | 90-day follow-on lock-up expiry (smaller supply event); (2) Aug 2, 2026 | ~20,000,170-share IPO-related lock-up expiry (primary desk supply event). Underwriters can release shares earlier on both dates. Active locate demand and fee volatility near-term. Forward-calendar Aug 2 as primary event. Add to IPO Lockup Monitor sheet.

ISSUER >> AEIS (Convertible Note Issuance) | Convertible Notes

KEY DATE	TBD (Pricing/Settlement Pending)
KEY EVENT	Convert Announced May 13 \| Pricing and Settlement Pending
EST. CLOSE	~Late May 2026
ANNOUNCED	5/13/26

PRIORITY RATING 55 | TU 6 RF 13 FS 18 OE 18

ACTION TYPE	Convertible Note Issuance
DEAL VALUE	$1.0B
STRUCTURE	Convertible Notes
TRADER TIER	SQUEEZE

NEW May 18. Advanced Energy Industries announced $1.0B convertible note offering on May 13, 2026. Same category as ORA's $1.0B convert (already tracked). Delta-hedge borrow demand on pricing and settlement. Monitor initial purchaser hedge mechanics and capped-call overlay if applicable. SQUEEZE candidate per Trader Tier framework. Track terms, pricing date, and settlement timeline; flag any HARDER rebate regime emergence.

ISSUER >> AMKR (Convertible Note Offering | Convert Arb) | Convertible Notes (0.00% due 2031)

KEY DATE	Ongoing
KEY EVENT	Convert Settled May 5 \| Delta-Hedge Borrow Active
EST. CLOSE
ANNOUNCED	~May 1, 2026

PRIORITY RATING 55 | TU 6 RF 13 FS 18 OE 18

ACTION TYPE	Convertible Note Offering \| Convert Arb
DEAL VALUE	~$1.0B (base) + $150M option
STRUCTURE	Convertible Notes (0.00% due 2031)
TRADER TIER	SQUEEZE

Convertible note offering settled May 5, 2026 (~$1.0B base + $150M option). Convert-arb community now establishing delta-hedge short positions; borrow demand in AMKR materializes over the days/weeks following settlement. Monitor utilization and HTB/SPECIAL rate trajectory. Standing watch on common-stock borrow as conversion delta is hedged into underlying shorts.

ISSUER >> AVAV (Lock-Up Release | BlueHalo Acquisition Consideration) | Lock-Up Release (Tiered)

KEY DATE	Next Tranche TBD
KEY EVENT	First Tranche Released May 1 \| Next Tranche Pending
EST. CLOSE
ANNOUNCED	Prior BlueHalo acquisition

PRIORITY RATING 55 | TU 6 RF 13 FS 18 OE 18

ACTION TYPE	Lock-Up Release \| BlueHalo Acquisition Consideration
DEAL VALUE	N/A (17.4M shares across tranches)
STRUCTURE	Lock-Up Release (Tiered)
TRADER TIER	SQUEEZE

First tranche of ~6.97M shares released May 1, 2026 (40% of acquisition-related lock-up). Remaining tranches scheduled per merger agreement terms; next tranche date pending confirmation. Monitor Form 4 filings and any block-trade activity from released holders. Borrow demand may firm if released holders signal selling. Standing watch on float expansion and any HTB rate response.

ISSUER >> ED (ATM Equity Program) | Primary (Over-Time Issuance)

KEY DATE	Ongoing (ATM Sales Discretionary)
KEY EVENT	$2.0B ATM Program Announced May 8 \| Gradual Supply
EST. CLOSE	Ongoing (Through Program Term)
ANNOUNCED	5/8/26

PRIORITY RATING 42 | TU 6 RF 8 FS 14 OE 14

ACTION TYPE	ATM Equity Program
DEAL VALUE	$2.0B ATM Authorization
STRUCTURE	Primary (Over-Time Issuance)
TRADER TIER	SQUEEZE

NEW May 8. Consolidated Edison announced $2.0B at-the-market (ATM) equity offering program | common shares via agents / forward purchasers (up to 1% commissions). Issuer can sell into the market over time at its discretion. Gradual dilution / supply addition rather than discrete event. Utility issuer with mega-cap float; ATM unlikely to materially shift borrow rates near-term but adds ongoing primary supply line. Watch program drawdown disclosures in subsequent 10-Qs; flag if forward purchasers indicate accelerated draw.

ISSUER >> IONETIX (PIPE + Pending Resale S-1) | Equity Issuance

KEY DATE	TBD (S-1 Effectiveness)
KEY EVENT	PIPE Closed \| Resale S-1 Pending
EST. CLOSE	TBD (OTCQB Listing)
ANNOUNCED	4/21/26

PRIORITY RATING 54 | TU 6 RF 12 FS 22 OE 14

ACTION TYPE	PIPE + Pending Resale S-1
DEAL VALUE	>$30M PIPE
STRUCTURE	Equity Issuance
TRADER TIER	SQUEEZE

NEW Apr 22. Ionetix Corporation announced Apr 21 closing of private placement raising >$30M at $3.00/share, plus intent to file resale registration statement on Form S-1 to become publicly tradable on OTCQB. Issuer currently private. Post-effectiveness of resale S-1, PIPE shares become freely tradable alongside OTCQB listing. PIPE investors frequently short newly-unlocked stock to lock in $3.00 cost basis | concentrated directional borrow demand at or shortly after listing effectiveness. S-1 filing and SEC effectiveness timing not yet disclosed. OTCQB issuer lender inventory is typically thin | post-effectiveness demand can be abrupt. Per desk-note verification disclaimer: NO SEC filing exists yet; PIPE size, pricing, and S-1 intent sourced from company press release, not yet independently validated. Monitor EDGAR for S-1 filing and amendments.

ISSUER >> IREN (Convertible Note Issuance) | Convert/Debt

KEY DATE	Ongoing
KEY EVENT	Convert Settled May 14 \| Delta-Hedge Borrow Ongoing
EST. CLOSE	Ongoing
ANNOUNCED	5/12/26

PRIORITY RATING 74 | TU 25 RF 13 FS 18 OE 18

ACTION TYPE	Convertible Note Issuance
DEAL VALUE	$2.6B
STRUCTURE	Convert/Debt
TRADER TIER	SQUEEZE

NEW May 18. Iris Energy priced $2.6B convertible notes May 12, 2026; settled May 14. Capped-call overlay in place. Convert size represents approximately 32 percent of IREN's ~$8B equity market cap (largest single convert event in active SL coverage). Delta-hedge borrow demand significant on settlement; expect HARDER rebate regime as initial purchasers hedge convertible delta. Capped-call counterparty hedging adds to borrow pressure. Monitor utilization shift and rate trajectory through T+2 settlement clearing. SQUEEZE candidate per Trader Tier framework. Track for any IREN equity issuance follow-on that would offset hedge build.

ISSUER >> ONDS (Resale Prospectus Supplement) | Equity Overhang

KEY DATE	Post-Effectiveness
KEY EVENT	Resale Registration \| World View Merger Consideration
EST. CLOSE	Ongoing
ANNOUNCED	4/17/26

PRIORITY RATING 54 | TU 6 RF 12 FS 22 OE 14

ACTION TYPE	Resale Prospectus Supplement
DEAL VALUE	2.33M shares (resale)
STRUCTURE	Equity Overhang
TRADER TIER	SQUEEZE

NEW Apr 17. Ondas Holdings filed Form 8-K and prospectus supplement April 17 registering for resale 2,328,342 shares of common stock issued in connection with prior acquisition of World View Enterprises, Inc. (via Wassaic Merger Sub Inc.). Sellers: pre-merger World View stockholders who received ONDS consideration. Incremental public float becomes sellable once registration goes effective; small-cap name subject to distribution overhang. Registered secondary sales can front-run utilization and NFE spread on small-caps. Monitor ONDS utilization and NFE spread for overhang pressure; update lendable inventory post-effectiveness.

ISSUER >> ORA (Convertible Note Issuance) | Convert/Debt

KEY DATE	Ongoing
KEY EVENT	Delta-Hedge Borrow Demand
EST. CLOSE	Ongoing
ANNOUNCED	3/23/26

PRIORITY RATING 55 | TU 6 RF 13 FS 18 OE 18

ACTION TYPE	Convertible Note Issuance
DEAL VALUE	$1.0B
STRUCTURE	Convert/Debt
TRADER TIER	SQUEEZE

Ormat Technologies $1.0B convertible note financing closed March 23 (with full option exercise). Series A: $725M 1.50% due 2031; Series B: $150M 0.00% due 2031. Expect incremental delta-hedge short demand in ORA equity from convert-arb desks. Monitor utilization and rebate rates for rate tightening.

ISSUER >> SHAZ (Convertible Note Issuance) | Convertible Debt

KEY DATE	TBD (Pricing/Closing)
KEY EVENT	Convertible Note Offering Announced
EST. CLOSE	TBD
ANNOUNCED	~4/24/26

PRIORITY RATING 55 | TU 6 RF 13 FS 18 OE 18

ACTION TYPE	Convertible Note Issuance
DEAL VALUE	$350M
STRUCTURE	Convertible Debt
TRADER TIER	SQUEEZE

Sharon AI announced $350M convertible note offering. Low-float name. Convertible issuance creates stock-borrow demand from convertible-arb hedging (delta hedge of long-convert / short-stock). Confirm conversion price, capped-call or hedge terms, borrow availability, and settlement timing. Likely HARDER rebate dynamics on SHAZ once arbs deploy hedges.

ISSUER >> SPIR (Resale Registration) | Resale S-1

KEY DATE	TBD (S-1 Effectiveness)
KEY EVENT	Form S-1 Filed Apr 23 \| Effectiveness Pending
EST. CLOSE	TBD
ANNOUNCED	4/23/26

PRIORITY RATING 54 | TU 6 RF 12 FS 22 OE 14

ACTION TYPE	Resale Registration
DEAL VALUE	5M Shares (~$70M PIPE @$14.00)
STRUCTURE	Resale S-1
TRADER TIER	SQUEEZE

Spire Global filed Form S-1 Apr 23 registering resale of 5,000,000 Class A common shares from ~$70M PIPE closed ~Apr 10 at $14.00/share. Effectiveness typically 30-60 days post-filing. Upon effectiveness, 5M shares become tradable in public market | direct float expansion. Borrow supply on SPIR broadens at effectiveness; rebates likely EASIER at that point. No immediate action; monitor SEC EDGAR for effectiveness notice and pre-position rate surveillance.

ISSUER >> STR-LK (Reported Accelerated Lock-Up Release) | Lock-Up Release

KEY DATE	TBD (REPORTED)
KEY EVENT	REPORTED Accelerated Unlock (~15% of Employee Pool) \| Unverified; Issuer Not Confirmed Public
EST. CLOSE	TBD
ANNOUNCED	Reported ~Jun 2026

PRIORITY RATING 38 | TU 4 RF 12 FS 18 OE 4

ACTION TYPE	Reported Accelerated Lock-Up Release
DEAL VALUE	N/A (~45M sh reported)
STRUCTURE	Lock-Up Release
TRADER TIER	SQUEEZE

REPORTED, UNVERIFIED. A reported Stripe accelerated lock-up release (~15% of the employee restricted pool, ~45M shares, effective mid-June) was flagged in reconciliation research but could NOT be confirmed against any primary filing, and Stripe is not confirmed as a US-listed public company (no NYSE: STR line located). Carried as a REPORTED watch item only; do NOT pre-position. No recall action. Verify the listing status and an 8-K / insider-sale registration before treating as actionable; absent a primary source this row remains REPORTED and unconfirmed.

SPINOFF >> HONA (Spin-Off) | Distribution

KEY DATE	Jun 29, 2026 (Distribution Effective)
KEY EVENT	Board Approved + Record Date Jun 15 \| Distribution Jun 29 \| HON 1-for-2 Reverse Split Jun 29
EST. CLOSE	Jun 29, 2026
ANNOUNCED	5/2026

PRIORITY RATING 70 | TU 22 RF 16 FS 14 OE 18

ACTION TYPE	Spin-Off
DEAL VALUE	N/A (Aerospace separation)
STRUCTURE	Distribution
TRADER TIER	SQUEEZE

UPDATED Jun 15. Verified against the Honeywell press release / Form 10 registration. Honeywell's board set the record date and timing on June 5 and gave formal final approval of the Aerospace spin-off on June 15, 2026 into a new independent public company (expected Nasdaq: HONA); the Form 10 registration became effective on or about June 11. Record date June 15, 2026; distribution at 12:01 a.m. NY time on June 29, 2026 (one HONA share per two HON shares). Honeywell becomes Honeywell Technologies (automation-focused) post-spin. A 1-for-2 HON reverse split is effective June 29, contingent on the spin; cash in lieu of fractional shares. Spin/stub borrow event: watch HON and HONA when-issued (HONAV) activity, stub shorts, post-spin lendable supply, borrow-rate discovery in HONA, manufactured-payment and due-bill mechanics across the record date, and the CUSIP/option-deliverable adjustment from the reverse split. Recall and borrow-rate spikes are most likely between June 15 and June 29; these two dates are the operational triggers.

SUNE >> Suniva (Reverse Merger (Float Reset)) | Reverse Merger (Stock)

KEY DATE	H2 2026 (S-4 / Nasdaq Pending)
KEY EVENT	Definitive Agreement Jun 5 \| Suniva ~98.2% / SUNE ~1.8% \| S-4 + Nasdaq Listing Pending
EST. CLOSE	H2 2026
ANNOUNCED	6/5/26

PRIORITY RATING 51 | TU 12 RF 9 FS 22 OE 8

ACTION TYPE	Reverse Merger (Float Reset)
DEAL VALUE	~$2.26/sh implied
STRUCTURE	Reverse Merger (Stock)
TRADER TIER	SQUEEZE

NEW Jun 15. Verified against the SUNation Energy Form 8-K (Agreement and Plan of Merger dated June 5, 2026). SUNation Energy (Nasdaq: SUNE) signed a reverse-merger agreement with private U.S. solar-cell maker Suniva, creating a Nasdaq-listed domestic solar manufacturing and services platform under the Suniva name on SUNE's existing ticker. Pre-merger Suniva holders are expected to own ~98.2% of the combined company and pre-merger SUNation holders ~1.8% (subject to adjustment for SUNation net cash), implying ~$2.26 per SUNE share (~100% premium). Close targeted H2 2026, subject to stockholder approvals, SEC effectiveness of a Form S-4, and Nasdaq listing approval; $1M reciprocal termination fee. A reverse merger of this magnitude is a float-reset and supply-shock event on SUNE: the new-share issuance and possible reverse split massively dilute the legacy float, lendable supply and CUSIP terms reset at close, and borrow can swing sharply around the S-4 effectiveness and listing. Squeeze-watch the legacy SUNE float into the vote; track the S-4 and Nasdaq clearance.

SPINOFF >> MBGL (Spin-Off) | Distribution

KEY DATE	Jul 1, 2026 (Regular-Way)
KEY EVENT	Record Jun 15 │ MBGL WI Jun 26-30 │ Regular-Way MBGL Jul 1 (12:01am NY)
EST. CLOSE	Jul 1, 2026
ANNOUNCED	5/21/26

PRIORITY RATING 72 │ TU 22 RF 18 FS 18 OE 14

ACTION TYPE	Spin-Off
DEAL VALUE	N/A (Mobility separation)
STRUCTURE	Distribution (1:1)
TRADER TIER	SQUEEZE

NEW Jun 29. Verified vs S&P Global 8-K / Form 10 (May 21, 2026). One-for-one pro rata distribution of Mobility Global (NYSE: MBGL); record date June 15, 2026; when-issued MBGL WI June 26-30; regular-way MBGL begins July 1, 2026, distribution effective 12:01 a.m. NY time July 1. Fractional shares sold for cash. Spin/stub borrow event imminent: watch SPGI WI vs MBGL WI stub-versus-WI borrow, due-bill and manufactured-payment mechanics across the record date, post-spin lendable supply in MBGL, and S&P 500 / index-tracker repositioning. Operational inflection at the July 1 regular-way open.

SPINOFF >> CMCSA (Spin-Off) | Distribution

KEY DATE	~Jun 2027 (Completion ~1 yr)
KEY EVENT	Announced Jun 29 │ Tax-Free Spin of NBCUniversal + Sky │ ~1 Year to Complete
EST. CLOSE	~H1 2027
ANNOUNCED	6/29/26

PRIORITY RATING 58 │ TU 8 RF 12 FS 20 OE 18

ACTION TYPE	Spin-Off
DEAL VALUE	N/A (Media separation)
STRUCTURE	Distribution (Tax-Free)
TRADER TIER	SQUEEZE

NEW Jun 29. Verified vs Comcast statement and CNBC/Bloomberg/CNN coverage (June 29, 2026). Comcast announced a tax-free spin-off separating NBCUniversal and Sky (Universal studios/parks, Peacock, NBC, Telemundo, Bravo, Sky) into a new independent public company; current investors will own shares in both. Completion expected in about one year, subject to board approval, tax opinions, regulatory approvals and financing; Comcast expects to retain up to a 19.9% stake for up to one year post-spin, with the dual-class structure carried to the new company. CMCSA jumped ~20%+ on the news. Large-cap non-dividend corporate action with future CUSIP, index and when-issued consequences: no live recall yet; forward-calendar the separation and watch for Form 10, record date, distribution ratio and WI mechanics.

DESPAC >> CCXI (De-SPAC Business Combination) | SPAC + PIPE

KEY DATE	TBD (Vote / Redemption)
KEY EVENT	Definitive De-SPAC │ ~$2.5B Pre-Money │ PIPE + Warrants │ Post-Close AGLT
EST. CLOSE	TBD 2026
ANNOUNCED	6/2026

PRIORITY RATING 50 │ TU 10 RF 12 FS 16 OE 12

ACTION TYPE	De-SPAC Business Combination
DEAL VALUE	~$2.5B pre-money
STRUCTURE	SPAC + PIPE
TRADER TIER	SQUEEZE

NEW Jun 29. REPORTED. Churchill Capital Corp XI definitive de-SPAC business combination with Agility Robotics at ~$2.5 billion pre-money. Monitor CCXI redemptions, PIPE terms, and warrants; post-close float in AGLT (target ticker on completion) is the float-tightness watch. Redemption deadline triggers hard recall on CCXI. Confirm S-4 / proxy and redemption mechanics before publication.

MANDATORY (64 deals)

ADI >> ADI-EMP (Acquisition (Private Target)) | Cash

KEY DATE	H2 2026
KEY EVENT	Definitive Agreement May 19 \| All-Cash \| Close H2 2026 (HSR)
EST. CLOSE	H2 2026
ANNOUNCED	5/19/26

PRIORITY RATING 30 | TU 6 RF 8 FS 12 OE 4

ACTION TYPE	Acquisition (Private Target)
DEAL VALUE	~$1.5B
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW. Verified against the Analog Devices Form 8-K and PR Newswire release dated May 19, 2026. ADI agreed to acquire private Empower Semiconductor in an all-cash transaction for $1.5 billion; close expected in H2 calendar 2026 subject to customary conditions and HSR clearance. The borrowed public leg is the acquirer: ADI is the short leg, not the private target. AI/data-center power-management exposure can drive event-driven short interest; ADI is the relevant hedge/borrow leg. Private target, no float impact; acquirer-side watch.

ADSK >> ADSK-MX (Acquisition (Private Target)) | Cash

KEY DATE	Aug 3, 2026
KEY EVENT	Definitive Agreement May 28 \| All-Cash \| Close This Fiscal Year
EST. CLOSE	H2 2026
ANNOUNCED	5/28/26

PRIORITY RATING 30 | TU 6 RF 8 FS 12 OE 4

ACTION TYPE	Acquisition (Private Target)
DEAL VALUE	~$3.6B
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW. Verified against the Autodesk news release dated May 28, 2026. Autodesk agreed to acquire private MaintainX in an all-cash transaction valued at approximately $3.6 billion, funded with cash on hand and debt; expected to close later this fiscal year subject to regulatory review. Largest acquisition in Autodesk history. The borrowed public leg is the acquirer: ADSK is the short leg, not the private target. Large cash-and-debt outlay may drive ADSK acquirer-stock hedging and borrow demand; target private, no direct float impact. Acquirer-side watch.

APLD >> EKSO (Reverse Merger / Business Combination) | Stock

KEY DATE	H1 2026
KEY EVENT	S-4 Pending \| ChronoScale Combination
EST. CLOSE	H1 2026
ANNOUNCED	2/15/26

PRIORITY RATING 30 | TU 6 RF 8 FS 12 OE 4

ACTION TYPE	Reverse Merger / Business Combination
DEAL VALUE	TBD
STRUCTURE	Stock
TRADER TIER	MANDATORY

NEW Apr 13. Applied Digital cloud business merging into Ekso Bionics (EKSO) via Contribution and Exchange Agreement (Feb 15). Renames ChronoScale (CHRN). APLD retains ~97%. S-4 pending. Close H1 2026. APLD Q3 results (Apr 8) confirmed combination advancing. Track S-4 proxy for lockup schedules on EKSO/ChronoScale insiders | models incoming supply and borrow availability. Standard reverse-merger dynamics at close. CUSIP/ticker transition: EKSO → CHRN.

BRC >> HON (Asset Sale (PSS Divestiture)) | Cash

KEY DATE	H2 2026
KEY EVENT	Asset Sale \| No Ride-Through Impact on HON
EST. CLOSE	H2 2026
ANNOUNCED	4/20/26

PRIORITY RATING 54 | TU 10 RF 22 FS 18 OE 4

ACTION TYPE	Asset Sale (PSS Divestiture)
DEAL VALUE	$1.4B
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW Apr 21. Brady Corporation definitive agreement (Apr 20) to acquire Honeywell's Productivity Solutions and Services (PSS) business for $1.4B all-cash. PSS: ~$1.1B 2025 revenue, ~3,000 employees globally; transaction value ~8x 2025 EBITDA. Brady funding: cash on hand + new debt; targets pro-forma net debt/EBITDA ~2.5x at close, below 2.0x within two years. Both boards unanimously approved. Close expected H2 2026 subject to regulatory approvals. This is an ASSET SALE, NOT a stock transaction | no ride-through implication for HON equity; no mandatory recall on either side. Continues HON portfolio simplification following 2024 PPE sale and Oct 2025 Solstice Advanced Materials (SOLS) spin-off, and precedes planned Q3 2026 Honeywell Aerospace spin-off. Primary desk attention belongs on the HON Aerospace spin-off calendar. Add BRC to primary-issuance watchlist pending debt financing disclosure.

BRK.B >> TMHC (Cash Merger) | Cash

KEY DATE	H2 2026
KEY EVENT	Definitive Agreement \| Vote/HSR Pending
EST. CLOSE	H2 2026
ANNOUNCED	5/31/26

PRIORITY RATING 54 | TU 14 RF 22 FS 14 OE 4

ACTION TYPE	Cash Merger
DEAL VALUE	~$8.5B EV (~$6.8B equity)
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW May 31. Berkshire Hathaway agreed to acquire Taylor Morrison Home at $72.50/share cash; ~$6.8B equity / ~$8.5B EV. All-cash homebuilder takeout = mandatory recall at closing. Monitor TMHC borrow for merger-arb demand and housing-sector relative-value; BRK.B acquirer-side, no short-hedge leg. Verify per definitive 8-K/proxy on EDGAR.

CRM >> Fin (Acquisition (Private Target)) | Cash

KEY DATE	Q4 CRM FY2027
KEY EVENT	Definitive Agreement Jun 15 \| All-Cash \| Close Q4 Salesforce FY2027
EST. CLOSE	Q4 CRM FY2027
ANNOUNCED	6/15/26

PRIORITY RATING 28 | TU 10 RF 4 FS 10 OE 4

ACTION TYPE	Acquisition (Private Target)
DEAL VALUE	~$3.6B
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW Jun 15. Verified against the Salesforce Form 8-K and Business Wire release dated June 15, 2026. Salesforce signed a definitive agreement to acquire Fin (formerly Intercom), a private AI customer-agent company, for approximately $3.6 billion, subject to customary purchase-price adjustments; close expected in Q4 of Salesforce fiscal year 2027 subject to regulatory clearances, with no change to FY2027 guidance and no impact to the capital-return program. The borrowed public leg is the acquirer: CRM is the short leg, not the private target. Borrow on CRM will likely remain ample, but the deal supports event-driven enterprise-software, AI-agent, and basket-hedge inquiries. No target float impact, no target recall; acquirer-side watch.

DESPAC >> LOKV (De-SPAC) | De-SPAC

KEY DATE	Q2 2026
KEY EVENT	De-SPAC Close / Redemption Deadline
EST. CLOSE	Q2 2026
ANNOUNCED	12/18/25

PRIORITY RATING 52 | TU 18 RF 12 FS 18 OE 4

ACTION TYPE	De-SPAC
DEAL VALUE	$800M ($746M EV)
STRUCTURE	De-SPAC
TRADER TIER	MANDATORY

S-4 confidentially submitted 12/18/25; public filing expected late March. Close target Q2 2026 (Apr/May). $126M PIPE anchored by T. Rowe Price. Redemption deadline triggers hard recall | watch for proxy mailing. Post-close tickers: TMS (shares) / TMSW (warrants).

DESPAC >> MACI (De-SPAC Business Combination) | De-SPAC

KEY DATE	TBD 2026
KEY EVENT	8-K Filed \| Business Combination Announced
EST. CLOSE	TBD 2026
ANNOUNCED	~Mar 2026

PRIORITY RATING 44 | TU 6 RF 12 FS 22 OE 4

ACTION TYPE	De-SPAC Business Combination
DEAL VALUE	~$180M
STRUCTURE	De-SPAC
TRADER TIER	MANDATORY

NEW Mar 27. Melar Acquisition I (MACI) / Everli Global de-SPAC business combination ~$180M. 8-K filed. Monitor MACI borrow and warrants activity around closing mechanics. Ticker/CUSIP transition will create settlement friction if compressed timeline.

DESPAC >> FGMC (De-SPAC Business Combination) | De-SPAC

KEY DATE	Close / BXBL Relisting Pending
KEY EVENT	Vote APPROVED Jun 9 \| Awaiting Close + Rename/Relist to BXBL
EST. CLOSE	Q2 2026
ANNOUNCED	5/2026

PRIORITY RATING 50 | TU 16 RF 12 FS 18 OE 4

ACTION TYPE	De-SPAC Business Combination
DEAL VALUE	~$3.5B (BOXABL implied)
STRUCTURE	De-SPAC
TRADER TIER	MANDATORY

UPDATED Jun 15. Verified vs the BOXABL/FGMC press release dated June 10 and the Form 425. FGMC and BOXABL stockholders approved the business combination at special meetings held June 9, 2026; the two-step merger leaves FGMC as the surviving public company, to be renamed BOXABL Inc. and relisted on Nasdaq as BXBL. Roughly 6.6M shares were tendered for redemption ahead of the June 5 deadline (~$68.8M out of trust; ~$14M and ~1.4M public shares remaining), so post-close float is thin. De-SPAC close/relisting is the open forward action: monitor closing timing, the CUSIP/ticker transition to BXBL, warrant activity, and abrupt post-close borrow tightness on the thin legacy float.

DHR >> MASI (Cash Merger) | Cash

KEY DATE	H2 2026
KEY EVENT	Shareholder Vote
EST. CLOSE	H2 2026
ANNOUNCED	2/17/26

PRIORITY RATING 50 | TU 10 RF 22 FS 14 OE 4

ACTION TYPE	Cash Merger
DEAL VALUE	$9.9B
STRUCTURE	Cash
TRADER TIER	MANDATORY

All-cash at $180/sh (~69% prem to unaffected). Requires MASI shareholder approval + regulatory clearances. H2 close. Monitor proxy filing for record date.

DSX >> GNK (Cash Tender (Unsolicited)) | Cash

KEY DATE	Jul 10, 2026
KEY EVENT	Tender LIVE \| $24.80 All-Cash \| Extended to Jul 10 (28.4% Tendered as of Jun 26) \| $27.34 Board Proposal Standing
EST. CLOSE	TBD
ANNOUNCED	~5/27/26 (TO-T/A)

PRIORITY RATING 58 | TU 14 RF 22 FS 18 OE 4

ACTION TYPE	Cash Tender (Unsolicited)
DEAL VALUE	~$1.0B+ (offer)
STRUCTURE	Cash
TRADER TIER	MANDATORY

UPDATED Jun 29. Verified vs Diana Shipping SC TO-T/A and Form 425 (Jun 29, 2026). Diana Shipping (NYSE: DSX), through 4 Dragon Merger Sub, extended its unsolicited all-cash tender for Genco at $24.80 per share to July 10, 2026 at 5:00 p.m. NY time; 10,583,484 shares (~28.4% of the shares not owned by Diana) were tendered as of June 26. Diana owns ~14.4% of GNK. The tender remains ALL-CASH $24.80 (no acquirer short leg). Separately, Diana’s board-level proposal of $27.34 per share (comprised of $24.80 cash plus one Diana share valued at $2.54 on a 30-day VWAP as of June 16) remains on the table as a standing offer, but it is not the live tender, so the tender is not a mixed cash/stock deal. Hostile-bid volatility: elevated GNK borrow demand / short interest tied to offer-success probability; cross-holder dynamics. Roll the lending-agent calendar to the July 10 expiry; track further SC TO-T/A amendments and any move to a negotiated mixed-consideration deal.

ENVA >> GRASS (Cash/Stock Acquisition) | Cash/Stock

KEY DATE	2H 2026
KEY EVENT	Expected Closing
EST. CLOSE	6/30/26
ANNOUNCED	12/11/25

PRIORITY RATING 52 | TU 6 RF 20 FS 22 OE 4

ACTION TYPE	Cash/Stock Acquisition
DEAL VALUE	$400M
STRUCTURE	Cash/Stock
TRADER TIER	MANDATORY

Small fintech acquisition. Extended timeline. Minimal near-term action.

FOREIGN >> TBRG (Reported Acquisition) | Cash (Reported)

KEY DATE	Q3 2026
KEY EVENT	DEFINITIVE \| All-Cash $26.25 / Vote/HSR Pending
EST. CLOSE	Q3 2026
ANNOUNCED	4/13/26 (Reported)

PRIORITY RATING 58 | TU 14 RF 22 FS 18 OE 4

ACTION TYPE	Reported Acquisition
DEAL VALUE	~$600M (Reported)
STRUCTURE	Cash (Reported)
TRADER TIER	MANDATORY

UPGRADED FROM REPORTED → DEFINITIVE Apr 23, 2026: Inventurus Knowledge Solutions (IKS Health, NSE: IKS) via U.S. subsidiary acquires TBRG at $26.25/share all-cash, ~$557M EV. Voting agreements cover ~27% of TBRG shares (board-approved). Close Q3 2026 subject to TBRG vote + HSR. Financing: term loan from Citi, JPMorgan, Deutsche Bank. ALL-CASH = MANDATORY RECALL AT CLOSING. Begin winding down TBRG loans. No merger-arb setup (acquirer is subsidiary of Indian-listed parent | no U.S. equity to short). Cross-border HSR may delay timeline. Small-cap healthcare IT name; existing borrow may be limited.

FOREIGN >> BKR (Asset Divestiture) | Cash

KEY DATE	H2 2026
KEY EVENT	Expected Close \| Regulatory Pending
EST. CLOSE	H2 2026
ANNOUNCED	4/13/26

PRIORITY RATING 54 | TU 10 RF 22 FS 18 OE 4

ACTION TYPE	Asset Divestiture
DEAL VALUE	~$1.45B
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW Apr 20. Baker Hughes agreed April 13 to sell Waygate Technologies business | non-destructive testing unit in IET segment (remote visual inspection, ultrasound, radiography, imaging; ~1,500 employees, 25 locations, HQ Hürth, Germany) | to Hexagon AB (STO: HEXA-B) for ~$1.45B all-cash (before customary closing adjustments). Waygate FY25 financials: ~$630M revenue at ~10% EBIT margin. Use of proceeds: balance sheet reinforcement; consistent with broader IET portfolio rebalancing alongside pending GTLS Chart Industries acquisition (~$13.6B | see separate row). Continuation of BKR IET segment pruning. No share issuance or repurchase component | NO DIRECT FLOAT IMPACT ON BKR. Expected close H2 2026, subject to regulatory approvals. Short theses on BKR's IET segment may reprice as portfolio mix shifts toward Chart. Monitor BKR borrow and NFE spread for thesis repricing; no recall action required.

FOREIGN >> OGN (Cash Merger) | Cash

KEY DATE	H2 2026
KEY EVENT	Definitive Agreement Apr 26 \| Vote/HSR Pending
EST. CLOSE	H2 2026
ANNOUNCED	4/26/26

PRIORITY RATING 46 | TU 10 RF 22 FS 10 OE 4

ACTION TYPE	Cash Merger
DEAL VALUE	~$11.75B
STRUCTURE	Cash
TRADER TIER	MANDATORY

Definitive agreement Apr 26: all-cash $14.00/share, ~$11.75B EV, ~24% premium to recent close. Outside date Jan 26, 2027; $120M termination fee. Organon is womens health pharma spun from MRK 2021. All-cash structure = mandatory recall at closing. Begin OGN loan inventory review; arb spread setup is OGN-only (Sun Pharma is foreign-listed, no US short hedge). Watch for definitive proxy and shareholder vote scheduling.

FOREIGN >> OLPX (Take-Private) | Cash

KEY DATE	H2 2026
KEY EVENT	DEFM14C Mailed May 4 \| Vote/Close Pending
EST. CLOSE	H2 2026
ANNOUNCED	~4/24/26

PRIORITY RATING 54 | TU 10 RF 22 FS 18 OE 4

ACTION TYPE	Take-Private
DEAL VALUE	~$1.4B
STRUCTURE	Cash
TRADER TIER	MANDATORY

DEFINITIVE INFO STATEMENT (DEFM14C) filed and mailed May 4, 2026 for cash merger / take-private by Henkel US Operations Corp. (agreement dated Mar 26, 2026; ~$1.4B equity value). Cash deal; stockholders receive fixed cash per share. Take-private cash merger typically leads to delisting post-close; shorts must cover; no ongoing equity float. ALL-CASH = MANDATORY RECALL AT CLOSING. Begin recall preparation; awaiting closing 8-K and Form 25 delisting notice.

FSUN >> HMST (Amended Merger Agreement | Ratio Cut) | All-Stock (amended)

KEY DATE	TBD (Revised Close)
KEY EVENT	Amended Merger Agreement Filed \| Exchange Ratio Cut to 0.3867
EST. CLOSE	TBD (Revised Close)
ANNOUNCED	Prior agreement (amended Apr 29-30)

PRIORITY RATING 36 | TU 6 RF 12 FS 14 OE 4

ACTION TYPE	Amended Merger Agreement \| Ratio Cut
DEAL VALUE	N/A (terms amended)
STRUCTURE	All-Stock (amended)
TRADER TIER	MANDATORY

FirstSun Capital Bancorp amended merger agreement with HomeStreet (HMST): exchange ratio reduced from 0.4345 to 0.3867 FSUN per HMST share; equity raise increased from $175M to $235M. Ratio cut over-hedges existing arb positions | mechanical result is short-cover (BUY FSUN) in near term, making FSUN borrow EASIER. Larger equity raise adds future dilutive supply. Verify amended definitive agreement and revised close date on EDGAR. HMST holders receive fewer FSUN shares under amended terms.

GSK >> NUVL (Cash Tender + Merger (251(h))) | Cash

KEY DATE	Jul 14, 2026 (Tender Expiry)
KEY EVENT	Tender Commenced Jun 24 \| $124.00 Cash \| Expires Jul 14 (251(h) Back-End Merger) \| Outside Date Dec 9
EST. CLOSE	Q3 2026
ANNOUNCED	6/9/26

PRIORITY RATING 57 | TU 18 RF 25 FS 10 OE 4

ACTION TYPE	Cash Tender + Merger (251(h))
DEAL VALUE	$10.6B
STRUCTURE	Cash
TRADER TIER	MANDATORY

UPDATED Jun 29. Verified against the Nuvalent 8-K, GSK SC TO-T / 6-K (Jun 24, 2026), and the June 9 merger agreement. GSK commenced its tender offer on June 24, 2026 (via Harmony Row Acquisition Co.) to acquire all Nuvalent Class A and Class B shares at $124.00 per share cash, expiring July 14, 2026 unless extended, ~$10.6B equity ($9.4B net of cash), a 40% premium; structured as a tender followed by a Delaware 251(h) back-end merger. Conditions: majority tender of Class A, HSR clearance, no financing contingency; $350.475M termination fee; outside date December 9, 2026; close expected Q3 2026. Tender and Support Agreements (Deerfield affiliates, directors/officers) cover about 28% of Class A. ALL-CASH = MANDATORY RECALL AT CLOSING; the borrow-relevant name is the target, NUVL. The fixed-price all-cash tender collapses the directional short thesis and compresses target borrow, but the tender and 251(h) settlement create a recall window to coordinate. Residual volatility events inside deal pendency: FDA PDUFA dates for zidesamtinib (ROS1) Sep 18, 2026 and neladalkib (ALK) Nov 27, 2026. Dual-class structure means Class B (insider/founder) shares are in the tender, relevant to float and recall. Tender is now LIVE: NUVL recall coordination should be underway against the July 14 expiry; track the Schedule TO/14D-9 and any extension.

INCY >> Vega (Acquisition (Private Target)) | Cash

KEY DATE	Q3 2026
KEY EVENT	Definitive Agreement Jun 8 \| Equity/Stock Purchase \| HSR Pending
EST. CLOSE	Q3 2026
ANNOUNCED	6/8/26

PRIORITY RATING 36 | TU 14 RF 4 FS 14 OE 4

ACTION TYPE	Acquisition (Private Target)
DEAL VALUE	$1.25B upfront (up to $2.0B)
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW Jun 15. Verified against the Incyte Form 8-K and Business Wire release dated June 8, 2026. Incyte agreed to acquire Vega Therapeutics, a wholly owned subsidiary of privately held Star Therapeutics, for $1.25B upfront plus up to $750M in sales milestones (total up to $2.0B), structured as an equity/stock purchase, close expected Q3 2026 subject to HSR. The target is private, so there is no target borrow; the borrowed public leg is the acquirer, INCY. Incyte disclosed an expected ~$1.25B R&D charge hitting Q3 and FY2026 results, the kind of earnings-event detail that can drive INCY short interest and borrow demand. Lead asset VGA039 is a Phase 3 monoclonal antibody (Protein S) for von Willebrand disease. Acquirer-side watch; no target float impact, no target recall.

ISSUER >> OPTU (Issuer-Affiliate Cash Tender + Restructuring) | Cash (Issuer)

KEY DATE	Jun 30, 2026 (Tender Expiry)
KEY EVENT	Tender Launched ~May 29 \| $2.50/sh up to 120M Class A (~42.5%) \| Expires Jun 30 \| CSC Deleveraging
EST. CLOSE	Q2 2026
ANNOUNCED	6/1/26

PRIORITY RATING 64 | TU 20 RF 22 FS 18 OE 4

ACTION TYPE	Issuer-Affiliate Cash Tender + Restructuring
DEAL VALUE	~$300M tender (120M sh @ $2.50)
STRUCTURE	Cash (Issuer)
TRADER TIER	MANDATORY

NEW Jun 15. Verified against the Optimum Communications (NYSE: OPTU, formerly Altice USA) press release and Form 8-K filed June 1, 2026. CSC Investments II LLC, a wholly owned Optimum subsidiary, launched a cash tender offer to purchase up to 120,000,000 shares of Class A common stock at $2.50 per share (vs. the $0.658 May 29 close), about 42.5% of Class A (about 30.6% of total Class A + Class B) after a concurrent Private Exchange Transaction with Next Alt. The tender expires 5:00 p.m. NY time on June 30, 2026, withdrawable until expiration; acquired shares are retired. It is part of a broader financial and structural restructuring (private placement, private exchange, potential public exchange, CSC Holdings debt deleveraging discussions with the Co-Op Group) intended to mitigate a multi-billion-dollar tax liability. Shares jumped 80%+ on announcement. Tender plus retirement contracts lendable Class A float into the June 30 expiry: set the recall/settlement calendar against the expiration, watch for proration if oversubscribed and any extension, and monitor the SC TO and related 8-K materials.

ISSUER >> NFE (RSA / Company Split) | Equity Restr.

KEY DATE	Q3 2026
KEY EVENT	UK Restructuring Plan (April)
EST. CLOSE	Q3 2026
ANNOUNCED	3/17/26

PRIORITY RATING 44 | TU 14 RF 12 FS 14 OE 4

ACTION TYPE	RSA / Company Split
DEAL VALUE	~$5.7B → $527.5M
STRUCTURE	Equity Restr.
TRADER TIER	MANDATORY

RSA signed 3/17. Splitting into BrazilCo (private, creditor-owned) and New NFE (public). Debt reduced ~$5.7B → ~$527.5M. Creditors receive 65% of New NFE equity; existing shareholders retain 35%. UK RP process launches April. Prepare for potential CUSIP change.

ISSUER >> MGA (Asset Divestiture) | Cash

KEY DATE	H2 2026
KEY EVENT	Lighting/Rooftop Systems Sale \| PE Buyers
EST. CLOSE	H2 2026
ANNOUNCED	4/9/26

PRIORITY RATING 54 | TU 10 RF 22 FS 18 OE 4

ACTION TYPE	Asset Divestiture
DEAL VALUE	~$1.1B (2025 sales)
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW Apr 13. Magna International divesting Lighting and Rooftop Systems across three transactions to PE buyers. ~$1.1B combined 2025 sales. Close H2 2026. No EPS impact per Magna. Portfolio simplification | watch for index weight recalibration. MGA is XLI/VIS/CARZ component. Not a mandatory recall event.

ISSUER >> DVN (Share Repurchase Authorization + Execution Window) | Open-Market / ASR / 10b5-1 (TBD)

KEY DATE	Ongoing (Through Jun 30, 2029)
KEY EVENT	$8B Buyback Authorized May 7 \| Largest in Coverage Universe
EST. CLOSE	Jun 30, 2029 (Authorization Expiry)
ANNOUNCED	5/7/26

PRIORITY RATING 32 | TU 6 RF 8 FS 14 OE 4

ACTION TYPE	Share Repurchase Authorization + Execution Window
DEAL VALUE	$8.0B
STRUCTURE	Open-Market / ASR / 10b5-1 (TBD)
TRADER TIER	MANDATORY

NEW May 18. Devon Energy board authorized $8.0B common-stock repurchase program on May 7, 2026, concurrent with CTRA / DVN merger close that same day. Authorization expires June 30, 2029. Represents approximately 15 percent of combined post-merger market capitalization | largest single-issuer buyback in ASC coverage universe. Method TBD: open-market, ASR, or 10b5-1 plan likely (or combination). Execution pace will determine borrow rate trajectory; ASR or aggressive open-market would meaningfully contract float over months. Monitor 10-Q disclosures for actual repurchase activity; Form 8-K for any ASR announcement. Float-contraction supportive of utilization rate trajectory in DVN over the multi-year window.

ISSUER >> CCI (Asset Divestitures Closed + Share Repurchase) | Cash (divestitures); Open-Market/ASR (buyback)

KEY DATE	Ongoing (buyback execution)
KEY EVENT	Divestitures Closed May 1 \| $1.0B Buyback Authorized; Towers-Only REIT
EST. CLOSE	Ongoing
ANNOUNCED	Closed May 1, 2026

PRIORITY RATING 32 | TU 6 RF 8 FS 14 OE 4

ACTION TYPE	Asset Divestitures Closed + Share Repurchase
DEAL VALUE	~$8.5B divestitures; $1.0B buyback auth.
STRUCTURE	Cash (divestitures); Open-Market/ASR (buyback)
TRADER TIER	MANDATORY

Crown Castle completed ~$8.5B divestitures (Fiber → Zayo; Small Cells → Arium Networks/EQT) effective May 1, 2026. Simultaneously authorized $1.0B share repurchase program. Towers-only REIT post-divestiture. Buyback creates lendable-float contraction over execution window | HARDER trajectory. Short-thesis reset from leverage/fiber-capex removal may trigger some cover (EASIER offset). Monitor buyback execution mechanism (open-market vs. ASR vs. 10b5-1) and any ASR tranche 8-K disclosure. Leverage reduction >$7B post-divestiture.

ISSUER >> SCHL (Modified Dutch Auction Tender) | Cash (Issuer)

KEY DATE	TBD (Final Pricing)
KEY EVENT	Final Clearing Price Pending \| Tender Expired Apr 20
EST. CLOSE	TBD
ANNOUNCED	3/23/26

PRIORITY RATING 54 | TU 6 RF 22 FS 22 OE 4

ACTION TYPE	Modified Dutch Auction Tender
DEAL VALUE	$200M
STRUCTURE	Cash (Issuer)
TRADER TIER	MANDATORY

Issuer self-tender (modified Dutch auction) expired Apr 20, 2026. Preliminary results posted; final clearing price and proration factor pending. Once disclosed, repurchased shares retire from float | lendable supply contracts on retired portion. Monitor for final 8-K with definitive results. No new recall trigger until pricing confirmed.

ISSUER >> SNDK (Share Repurchase Authorization) | Open-Market / ASR / 10b5-1 (TBD)

KEY DATE	TBD (Execution Pending)
KEY EVENT	$6.0B Buyback Authorized \| Execution Method TBD; Monitor for ASR Tranche
EST. CLOSE	Ongoing
ANNOUNCED	Authorized ~May 2026

PRIORITY RATING 32 | TU 6 RF 8 FS 14 OE 4

ACTION TYPE	Share Repurchase Authorization
DEAL VALUE	$6.0B authorization
STRUCTURE	Open-Market / ASR / 10b5-1 (TBD)
TRADER TIER	MANDATORY

SanDisk Corporation $6.0B share repurchase program authorized. Authorization is permission, not execution | float reduction only occurs when shares are actually repurchased. Do not infer HARDER pressure from authorization alone. Watch for ASR tranche 8-K disclosure (discrete near-term supply-contraction event). Open-market or 10b5-1 execution would be gradual. Verify authorization date, term, and execution mechanism against primary 8-K on EDGAR.

JNJ >> Firefly (Acquisition (Private Target)) | Cash

KEY DATE	TBD
KEY EVENT	Definitive Agreement Jun 8 \| All-Cash \| Close Expected Later 2026
EST. CLOSE	H2 2026
ANNOUNCED	6/8/26

PRIORITY RATING 18 | TU 4 RF 4 FS 6 OE 4

ACTION TYPE	Acquisition (Private Target)
DEAL VALUE	$1.0B
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW Jun 8. Verified against the Johnson & Johnson press release dated June 8, 2026. J&J entered a definitive agreement to acquire private Firefly Bio for $1.0 billion cash, adding the Firelink degrader antibody conjugate platform for KRAS-driven tumors; close expected later in 2026 subject to regulatory approvals. The borrowed public leg is the acquirer: JNJ is the short leg, not the private target. Borrow on JNJ will likely remain ample, but expect event-driven oncology, pharma-M&A, and basket-hedge inquiries. No target float impact; acquirer-side watch.

KKR >> FSK (Cash Tender (Issuer-Related) + Convert Pref + Buyback) | Cash + Hybrid Capital

KEY DATE	Post-Tender (Settlement + Buyback)
KEY EVENT	Tender Expired ~Jun 9 \| Settlement / $300M Buyback Execution Pending
EST. CLOSE	Q2 2026 (Tender) / Ongoing (Buyback)
ANNOUNCED	5/11/26

PRIORITY RATING 60 | TU 16 RF 22 FS 18 OE 4

ACTION TYPE	Cash Tender (Issuer-Related) + Convert Pref + Buyback
DEAL VALUE	$150M Tender + $150M Conv. Pref. + $300M Buyback Auth.
STRUCTURE	Cash + Hybrid Capital
TRADER TIER	MANDATORY

UPDATED Jun 15. The KKR-affiliate cash tender for up to $150M FSK shares at $11.00 expired on or about June 9, 2026. Awaiting final results, proration if oversubscribed, and execution of the authorized $300M post-tender buyback; the $150M convertible perpetual preferred was issued to KKR. Tender plus buyback retires public float and contracts lendable supply, supportive of borrow scarcity over the coming weeks. KKR-affiliate involvement carries related-party scrutiny. Confirm settlement of any open FSK loans; monitor the SC TO-I/TO-T final results and buyback execution 8-K. Float contraction supportive of utilization in FSK.

LPRO >> LPRO (Cash Tender) | Cash

KEY DATE	Q3 2026
KEY EVENT	Merger Agreement Jun 15 \| $3.15 Cash Tender \| Tender Commenced Jun 24; Expires Jul 14
EST. CLOSE	Q3 2026
ANNOUNCED	6/16/26

PRIORITY RATING 58 | TU 14 RF 22 FS 18 OE 4

ACTION TYPE	Cash Tender
DEAL VALUE	~$3.15/sh
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW Jun 22. Verified against the Open Lending Form 8-K and ANV SC TO-C dated June 16, 2026 (merger agreement dated June 15). ANV Group Holdings Ltd. (private UK insurance intermediary) will acquire Open Lending via an all-cash tender offer at $3.15 per share, a ~78% premium to the 90-day VWAP, followed by a second-step merger; LPRO then delists from Nasdaq. Tender launch expected mid-summer 2026; close expected Q3 2026 subject to a majority-tender condition and regulatory approvals; key holders (~12.8%) supportive. ALL-CASH = MANDATORY RECALL AT CLOSING; the borrow-relevant name is the target, LPRO. ANV is private, so there is no acquirer short leg. Small-cap auto-lending fintech. Begin LPRO recall coordination against tender commencement; track the Schedule TO and 14D-9.

MDA >> BCT (Acquisition (Private Target / Divestiture)) | Cash

KEY DATE	Q4 2026
KEY EVENT	Definitive Agreement Jun 19 \| All-Cash \| Carve-out from RTX \| CFIUS
EST. CLOSE	Q4 2026
ANNOUNCED	6/19/26

PRIORITY RATING 30 | TU 8 RF 4 FS 14 OE 4

ACTION TYPE	Acquisition (Private Target / Divestiture)
DEAL VALUE	~$620M (US)
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW Jun 22. Verified against the MDA Space PR Newswire release dated June 19, 2026. MDA Space (TSX/NYSE: MDA) agreed to acquire 100% of Blue Canyon Technologies LLC from RTX (Raytheon) in an all-cash transaction with a purchase price and enterprise value of US$620M (~C$874M), fully committed and financed through senior secured debt. Blue Canyon is a private spacecraft/satellite-component and mission-services business (two Denver facilities, 400+ employees) carved out of RTX. The borrowed public leg is the acquirer: MDA is the relevant short/hedge leg; the target is a private RTX subsidiary (no target float, no target recall). Close expected Q4 2026 subject to customary conditions and regulatory approvals including a US CFIUS review. Acquirer-side watch; event-driven defense-space and CFIUS-headline hedging may move MDA borrow.

MGMT >> FORA (Cash Tender (Mgmt-Led)) | Cash

KEY DATE	Settlement / Delisting Pending
KEY EVENT	Tender Expired May 14 \| Second-Step Merger / Delisting Pending
EST. CLOSE	Q2 2026
ANNOUNCED	4/2/26

PRIORITY RATING 54 | TU 6 RF 22 FS 22 OE 4

ACTION TYPE	Cash Tender (Mgmt-Led)
DEAL VALUE	~$68M
STRUCTURE	Cash
TRADER TIER	MANDATORY

ROLLED FORWARD May 18. Forian all-cash third-party tender by Bravo Merger Sub (subsidiary of 2025 Acquisition Company, LLC; management-led consortium led by Forian CEO and senior executives) expired at 11:59 p.m. ET May 14, 2026. Awaiting final results, second-step merger filing, and delisting confirmation. ALL-CASH = MANDATORY RECALL AT CLOSING. Confirm settlement of any remaining open loans; flag for borrow-pool extinguishment on close.

MSI >> D-Fend (Acquisition (Private Target)) | Cash

KEY DATE	Q4 2026
KEY EVENT	Definitive Agreement Jun 1 \| All-Cash \| Close Expected Q4 2026
EST. CLOSE	Q4 2026
ANNOUNCED	6/1/26

PRIORITY RATING 20 | TU 6 RF 4 FS 6 OE 4

ACTION TYPE	Acquisition (Private Target)
DEAL VALUE	$1.5B
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW Jun 8. Verified against the Motorola Solutions release dated June 1, 2026. Motorola Solutions agreed to acquire private D-Fend Solutions for $1.5 billion, expected to close Q4 2026. The borrowed public leg is the acquirer: MSI is the short leg, not the private counter-drone target. Borrow on MSI is likely to remain ample, but the deal supports event-driven defense-tech and counter-drone valuation hedges and basket-hedge inquiries. No target float impact; acquirer-side watch.

NEE >> CALIBER (Acquisition + JV (Reported)) | Cash

KEY DATE	TBD
KEY EVENT	REPORTED \| Caliber Acquisition + Quantum JV (Reuters)
EST. CLOSE	TBD
ANNOUNCED	~5/20/26

PRIORITY RATING 30 | TU 6 RF 8 FS 12 OE 4

ACTION TYPE	Acquisition + JV (Reported)
DEAL VALUE	~$1.3B
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW. NextEra reported to acquire Caliber Resource Partners (~$1.3B) and form gas-infrastructure JV with Quantum Capital. Acquirer-side; relevant to NEE gas-infra exposure. REPORTED only; verify against primary filings before treating as confirmed.

NVDA >> MRVL (Strategic Investment) | Equity Stake

KEY DATE
KEY EVENT	NVDA $2B Investment Confirmed
EST. CLOSE
ANNOUNCED	3/31/26

PRIORITY RATING 36 | TU 6 RF 12 FS 14 OE 4

ACTION TYPE	Strategic Investment
DEAL VALUE	$2B (NVDA stake)
STRUCTURE	Equity Stake
TRADER TIER	MANDATORY

NVIDIA and Marvell announced $2B strategic investment and partnership on March 31. NVLink Fusion, silicon photonics, AI-RAN for 5G/6G. NOT a tender offer or acquisition. MRVL surged ~7-11% on announcement. No recall risk. Strategic investment validates MRVL custom AI silicon positioning. Monitor borrow dynamics | gap-up creates short-seller pressure. Track NVDA Schedule 13D/13G filing for position details.

ONTO >> ONTO (Minority Stake Acquisition) | Cash

KEY DATE	H2 2026
KEY EVENT	Minority Stake \| HSR Pending
EST. CLOSE	H2 2026
ANNOUNCED	4/21/26

PRIORITY RATING 54 | TU 10 RF 22 FS 18 OE 4

ACTION TYPE	Minority Stake Acquisition
DEAL VALUE	~$710M
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW Apr 22. Onto Innovation Share Purchase Agreement (Apr 21 Tokyo time) to acquire 61,123,436 common shares of Rigaku Holdings Corporation (TSE: 268A) | ~27% of Rigaku outstanding as of Mar 31, 2026 | from Atom Investments, L.P. (Carlyle Group affiliate). All-cash, funded from ONTO balance sheet; NO new ONTO share issuance, NO dilution. Management expects accretion by year-end 2026; supports strategic semiconductor metrology collaboration framework. Governance: one Rigaku board nomination right; fair-value accounting (no consolidation). USD/JPY movement affects closing consideration economics. Expected close H2 2026 subject to HSR and other regulatory approvals. NO MANDATORY RECALL on ONTO; Rigaku (TSE: 268A) is not a US lending-market item. Per the desk-note verification disclaimer, specific share count, consideration figure, governance rights, and accounting treatment require independent validation against 8-K exhibits and the Share Purchase Agreement. Monitor ONTO for regulatory-approval progression and any unusual hedge-positioning borrow demand through H2 2026 close.

OWL >> SILA (Take-Private (REIT)) | Cash

KEY DATE	Q2-Q3 2026
KEY EVENT	All-Cash REIT Take-Private \| Vote Pending
EST. CLOSE	Q2-Q3 2026
ANNOUNCED	4/20/26

PRIORITY RATING 54 | TU 14 RF 22 FS 14 OE 4

ACTION TYPE	Take-Private (REIT)
DEAL VALUE	~$2.4B
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW Apr 23 (covering Apr 20 announcement). Sila Realty Trust definitive merger agreement April 20, 2026 with Blue Owl Real Estate Capital LLC affiliates. $30.38/share all-cash; total ~$2.4B. Premium: 19.0% to April 17 close; 25.6% to 30-day VWAP. SILA portfolio: 137 healthcare properties, ~5.3M sq ft, ~98% leased. Expected close Q2-Q3 2026 subject to SILA shareholder approval. Sila continues Q1 and Q2 quarterly dividends and will file 10-Q but has CANCELLED quarterly earnings calls. Upon closing, SILA delists from NYSE and becomes private. SILA is a constituent of healthcare-REIT and small-cap REIT index baskets | closing-driven removal would trigger index-fund rebalance flows (specific basket-level impact and replacement timing depend on index providers' rules; not established in advance). ALL-CASH TAKE-PRIVATE = MANDATORY RECALL AT CLOSING | no ride-through. Add SILA to M&A recall ladder tied to shareholder vote date. Flag REIT-basket impact for passive funds. Close out at closing.

P/E >> ALEX (Take-Private) | Cash

KEY DATE	Q2 2026
KEY EVENT	Vote Approved Mar 9 \| Await Close
EST. CLOSE	Q2 2026
ANNOUNCED	12/19/25

PRIORITY RATING 58 | TU 18 RF 22 FS 14 OE 4

ACTION TYPE	Take-Private
DEAL VALUE	~$2.3B
STRUCTURE	Cash
TRADER TIER	MANDATORY

Shareholder vote held Mar 9. $21.20 all-cash take-private. HARD RECALL in effect | all ALEX loans must be recalled now. Confirm closing timeline. Alexander & Baldwin real estate (Maui land/commercial). Post-close: CUSIP deactivation. Move to Closed & Removed upon confirmed close.

P/E >> ELSE (Take-Private) | Cash

KEY DATE	~Q2 2026
KEY EVENT	Take-Private \| Rapid Closing Window (~10 biz days)
EST. CLOSE	~Q2 2026
ANNOUNCED	4/21/26

PRIORITY RATING 69 | TU 18 RF 25 FS 22 OE 4

ACTION TYPE	Take-Private
DEAL VALUE	~$26.7M
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW Apr 22. Electro-Sensors definitive Agreement and Plan of Merger (Apr 21) with steute Technologies GmbH & Co. KG (Battery Ventures portfolio company). All-cash at $7.75/share (~75% premium to Apr 20 close; per press release | verify against definitive proxy). Implied equity value ~$26.7M on ~3.45M shares outstanding. Unanimous special committee + full board approval. Shareholder approval expected H1 2026 (per press release; verify against definitive proxy statement). Closing expected WITHIN APPROXIMATELY 10 BUSINESS DAYS of customary conditions being met | tight recall coordination window. Post-close: ELSE becomes wholly-owned steute subsidiary and delists from Nasdaq. Short interest ~7,138 shares as of March 31 (~0.2% of float per media reports; verify via FINRA). All-cash take-private = MANDATORY RECALL AT CLOSING. Begin winding down any ELSE loan positions; confirm timing upon proxy statement filing.

P/E >> WSR (Take-Private) | Cash

KEY DATE	Q3 2026
KEY EVENT	Shareholder Vote / Closing
EST. CLOSE	Q3 2026
ANNOUNCED	4/9/26

PRIORITY RATING 61 | TU 14 RF 25 FS 18 OE 4

ACTION TYPE	Take-Private
DEAL VALUE	~$1.7B
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW Apr 13. Whitestone REIT all-cash take-private by Ares Real Estate funds at $19.00/share (~$1.7B). 12.2% premium to Apr 8 close; 26.5% premium to unaffected price. 56 convenience-focused retail properties (~4.9M sq ft) in TX/AZ. Unanimously approved. Not subject to financing condition. Termination fee $36M; reverse break fee $77M. NYSE delisting upon completion. All-cash take-private = mandatory close-out at closing. WSR component of small-cap REIT ETFs | index rebalancing at delisting.

P/E >> BHF (Take-Private) | Cash

KEY DATE	H2 2026
KEY EVENT	Insurance Regulatory Review
EST. CLOSE	H2 2026
ANNOUNCED	11/20/25

PRIORITY RATING 50 | TU 10 RF 22 FS 14 OE 4

ACTION TYPE	Take-Private
DEAL VALUE	$4.1B
STRUCTURE	Cash
TRADER TIER	MANDATORY

Shareholders approved 2/12. Multi-state insurance regulatory approvals only (~6-12 months). Model Q3-Q4 2026 recall window.

P/E >> CCO (Take-Private) | Cash

KEY DATE	H2 2026
KEY EVENT	Go-Shop Ended Mar 26 \| Vote/HSR Pending
EST. CLOSE	H2 2026
ANNOUNCED	2/9/26

PRIORITY RATING 50 | TU 10 RF 22 FS 14 OE 4

ACTION TYPE	Take-Private
DEAL VALUE	$6.2B
STRUCTURE	Cash
TRADER TIER	MANDATORY

Mubadala/TWG Global take-private. Go-shop period ended Mar 26 with no superior proposals reported. Next gating items: shareholder vote + HSR clearance. ALL-CASH = MANDATORY RECALL AT CLOSING. Monitor for preliminary proxy and vote scheduling.

P/E >> CZR (Cash Merger) | Cash

KEY DATE	H2 2026
KEY EVENT	Definitive All-Cash \| Go-Shop; Vote/HSR Pending
EST. CLOSE	H2 2026
ANNOUNCED	5/28/26

PRIORITY RATING 58 | TU 14 RF 22 FS 18 OE 4

ACTION TYPE	Cash Merger
DEAL VALUE	~$17.6B EV
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW. Fertitta Entertainment to acquire Caesars at $31.00/share all-cash; ~$17.6B EV incl. ~$11.9B debt. Go-shop period active; CZR delists after completion. All-cash = mandatory recall at closing. Major cash-takeout borrow event: monitor merger-arb shorting, locate demand, and go-shop optionality. Acquirer private; no short-hedge leg. Verify against the definitive 8-K.

P/E >> EEX (Take-Private) | Cash

KEY DATE	H2 2026
KEY EVENT	Written Consent Executed by Onex (>90%) \| No Vote Required
EST. CLOSE	H2 2026
ANNOUNCED	5/11/26

PRIORITY RATING 54 | TU 10 RF 22 FS 18 OE 4

ACTION TYPE	Take-Private
DEAL VALUE	~$1.5B EV (~$350M equity)
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW May 18. Apollo all-cash take-private of Emerald Holding (EEX) at $5.03/share (~$350M equity / ~$1.5B EV). Definitive agreement and 8-K filed May 11, 2026. Onex Corporation, holding greater than 90 percent of voting power, executed written consent immediately upon signing; no shareholder vote required. Expected close H2 2026 subject to customary regulatory clearances. ALL-CASH = MANDATORY RECALL AT CLOSING. Small-float take-private with written-consent close pattern means standard 20-day notice period to dissenting shareholders applies. Borrow pool will extinguish on close; recall coordination should begin against expected H2 close window. Below the $1B equity threshold but $1.5B EV warrants tracking; included per master list curation standard for definitive agreements with material EV.

P/E >> TXNM (Take-Private) | Cash

KEY DATE	H2 2026
KEY EVENT	NRC / NMPRC Approvals
EST. CLOSE	H2 2026
ANNOUNCED	5/12/25

PRIORITY RATING 46 | TU 10 RF 22 FS 10 OE 4

ACTION TYPE	Take-Private
DEAL VALUE	$11.5B
STRUCTURE	Cash
TRADER TIER	MANDATORY

FERC approved 2/20. FCC + HSR + PUCT done. TWO REMAINING: NRC (Palo Verde nuclear) + New Mexico PRC (~Aug 2026). $350M rev. term. fee. Deadline 12/31/26.

PH >> CIR (Asset Sale (Aerospace Divestiture)) | Cash

KEY DATE	H2 2026
KEY EVENT	Definitive Agreement \| Close Pending
EST. CLOSE	H2 2026
ANNOUNCED	5/21/26

PRIORITY RATING 54 | TU 10 RF 22 FS 18 OE 4

ACTION TYPE	Asset Sale (Aerospace Divestiture)
DEAL VALUE	~$2.55B
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW. Parker Hannifin to acquire the CIRCOR commercial and defense aerospace business for ~$2.55B. Acquirer-side; PH aerospace exposure and financing relevant to relative-value shorts. No mandatory recall; monitor PH borrow. Verify per definitive agreement on EDGAR.

PRIVATE >> DSP (Bolt-on Acquisition) | Cash/Stock

KEY DATE	Q2 2026
KEY EVENT	Bolt-on Close Pending
EST. CLOSE	Q2 2026
ANNOUNCED	4/14/26

PRIORITY RATING 62 | TU 18 RF 18 FS 22 OE 4

ACTION TYPE	Bolt-on Acquisition
DEAL VALUE	$22.5M + 1.66M sh
STRUCTURE	Cash/Stock
TRADER TIER	MANDATORY

NEW Apr 14. Viant Technology (DSP) Agreement and Plan of Merger April 14 to acquire TVision Insights, Inc. via reverse triangular merger (TII Merger Sub merges into Target; Target continues as wholly-owned DSP subsidiary). Consideration: $22.5M cash + 1,656,701 DSP Class A common shares. Small bolt-on | ~1.6M share issuance is ~1-2% of DSP Class A float. Close expected Q2 2026 subject to customary closing conditions. Minimal direct lending-market impact. Registration / resale window around new share issuance may create short-term overhang. Monitor DSP borrow post-close for inventory expansion. No recall action required.

PRIVATE >> FARM (Take-Private) | Cash

KEY DATE	Q2 2026
KEY EVENT	Shareholder Vote / Closing
EST. CLOSE	Q2 2026
ANNOUNCED	3/4/26

PRIORITY RATING 69 | TU 18 RF 25 FS 22 OE 4

ACTION TYPE	Take-Private
DEAL VALUE	~$28M
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW Apr 3. Definitive agreement March 4. Royal Cup acquiring Farmer Brothers at $1.29/share all-cash (~$28M on ~21.7M shares). Board unanimously approved and recommends. Close expected Q2 2026 (fiscal Q4 ending June 30). Nasdaq delist upon closing. Micro-cap take-private. Low deal premium vs. 52-week range ($1.21-$2.50). All-cash = mandatory recall at closing.

PRIVATE >> TDG (Cash Acquisition + Buyback) | Cash

KEY DATE	Q2 2026
KEY EVENT	Stellant Acquisition Close Pending (Financing Closed Apr 17)
EST. CLOSE	Q2 2026
ANNOUNCED	12/31/25 (Stellant)

PRIORITY RATING 62 | TU 18 RF 22 FS 18 OE 4

ACTION TYPE	Cash Acquisition + Buyback
DEAL VALUE	$960M acq + $800M buyback
STRUCTURE	Cash
TRADER TIER	MANDATORY

TransDigm: Stellant Systems acquisition financing closed Apr 17. Acquisition close still pending (subject to remaining customary conditions). Bolt-on aerospace defense acquisition. Concurrent buyback authorization continues. Watch for closing 8-K and any modification to authorized buyback execution post-close.

PRIVATE >> HIMS (Acquisition) | Cash/Stock

KEY DATE	Mid-2026
KEY EVENT	Regulatory Approvals / Closing
EST. CLOSE	Mid-2026
ANNOUNCED	2/19/26

PRIORITY RATING 56 | TU 14 RF 20 FS 18 OE 4

ACTION TYPE	Acquisition
DEAL VALUE	$1.15B
STRUCTURE	Cash/Stock
TRADER TIER	MANDATORY

$240M cash at close + ~$710M deferred (18 mo.) + up to $200M earnouts. Up to 60% of deferred/earnouts in HIMS Class A shares | rolling dilution schedule. Monitor deferred payment windows for secondary offering risk.

PRIVATE >> TWO (Cash Merger) | Cash

KEY DATE	Aug 2026 (Expected Close)
KEY EVENT	Vote Process Concluded Jun 11 \| CCM $12.00 Cash \| 46/53 Approvals; HSR Early Term \| Close ~Aug 2026
EST. CLOSE	H2 2026
ANNOUNCED	12/22/25

PRIORITY RATING 60 | TU 16 RF 22 FS 18 OE 4

ACTION TYPE	Cash Merger
DEAL VALUE	$12.00/sh (~$1.5B est.)
STRUCTURE	Cash
TRADER TIER	MANDATORY

UPDATED Jun 15. The CrossCountry Mortgage (CCM) all-cash merger at $12.00 per share (plus pro-rated stub dividend) is proceeding following the June 11 special-meeting process; the prior UWMC competing-bid agreement was terminated by the board. CCM has obtained 46 of 53 required state and agency regulatory approvals plus HSR early termination, positioning the deal to close around August 2026. Preferred Series A/B/C redeem at $25.00 plus accrued at closing; flag for borrow-pool extinguishment. ALL-CASH = MANDATORY RECALL AT CLOSING; CCM is private, so there is no acquirer short leg. The contested dynamic has resolved; reclassified back to MANDATORY. Begin recall coordination against the August close window; confirm the final vote tally and remaining state approvals in the SC 14A / 8-K stream.

PRIVATE >> AMRX (Acquisition (Cash + Equity)) | Cash/Stock

KEY DATE	H2 2026
KEY EVENT	Definitive Agreement Apr 22 \| AMRX Vote/HSR Pending
EST. CLOSE	H2 2026
ANNOUNCED	4/21/26

PRIORITY RATING 50 | TU 10 RF 18 FS 18 OE 4

ACTION TYPE	Acquisition (Cash + Equity)
DEAL VALUE	$750M + up to $350M
STRUCTURE	Cash/Stock
TRADER TIER	MANDATORY

Definitive agreement Apr 22 to acquire 100% of private Kashiv BioSciences (Piscataway, NJ; vertically-integrated U.S. biosimilar developer/manufacturer). Consideration: $375M cash + $375M AMRX equity (~28.9M Class A shares) at closing + up to $350M regulatory/commercial milestone payments and royalties. Close H2 2026 subject to AMRX shareholder vote + regulatory clearances. Private target | NO merger-arb setup. ~28.9M new Class A shares = material dilution to AMRX float. Incremental borrow supply on AMRX post-close as new shares settle and lending programs activate; short interest may build on dilution concerns, partially offsetting supply effect. Watch for EASIER rate dynamics on AMRX after close. AMRX concurrently raised FY2026 standalone guidance.

PRIVATE >> SYY (Cash/Stock Acquisition) | Cash/Stock

KEY DATE	Q3 FY2027
KEY EVENT	Expected Closing
EST. CLOSE	Q3 FY2027
ANNOUNCED	3/30/26

PRIORITY RATING 32 | TU 6 RF 16 FS 6 OE 4

ACTION TYPE	Cash/Stock Acquisition
DEAL VALUE	$29.1B
STRUCTURE	Cash/Stock
TRADER TIER	MANDATORY

NEW Apr 6. Sysco acquiring privately held Jetro Restaurant Depot for $29.1B ($21.6B cash + 91.5M SYY shares ~16% dilution). Jetro: 166 cash-and-carry warehouses, ~$16B revenue. Funded by $21B new debt. SYY fell ~12% on announcement. Target is private | no direct target-side lending impact. Monitor SYY borrow demand for dilution/leverage-related shorts. Antitrust review likely given scale.

PSKY >> WBD (Cash Merger) | Cash

KEY DATE	Q2 2026
KEY EVENT	Vote Held Apr 23 \| Await Close (PSKY Cash Acquisition)
EST. CLOSE	Q3 2026
ANNOUNCED	2/27/26

PRIORITY RATING 50 | TU 18 RF 22 FS 6 OE 4

ACTION TYPE	Cash Merger
DEAL VALUE	~$110-111B EV
STRUCTURE	Cash
TRADER TIER	MANDATORY

UPDATED May 18 (Est. Close revised to Q3 2026 per Paramount guidance). Vote held Apr 23; approved overwhelmingly. Paramount has guided expected close to Q3 2026 (previously Q2). Merger agreement includes a 25-cent quarterly ticking fee that activates if the deal has not closed by September 30, 2026. Remaining items: regulatory clearances across multiple jurisdictions. ALL-CASH = MANDATORY RECALL AT CLOSING. Recall coordination continues against the revised Q3 close window; track ticking fee timeline. WBD shareholder vote held Apr 23 at 10:00 a.m. ET. ~$111B EV all-cash acquisition by Paramount Skydance (PSKY). Confirm vote outcome via DEF 14A vote results 8-K. Assuming approval, next gating items: remaining regulatory clearances + closing conditions. ALL-CASH = MANDATORY RECALL AT CLOSING. Continue WBD loan inventory wind-down. Recall window remains open through close. Monitor for definitive close date announcement.

RUMORED >> PZZA (Reported Take-Private) | Cash (Reported)

KEY DATE	TBD
KEY EVENT	No Definitive Filing \| Monitor
EST. CLOSE	TBD
ANNOUNCED	3/11/26

PRIORITY RATING 50 | TU 6 RF 22 FS 18 OE 4

ACTION TYPE	Reported Take-Private
DEAL VALUE	~$1.5B
STRUCTURE	Cash (Reported)
TRADER TIER	MANDATORY

Irth Capital (Qatari-backed) + Brookfield offer reported at $47/share (~44-50% prem). Irth stake ~10%. NO definitive 8-K, Schedule TO, or merger agreement filed. Prior Apollo bid (~$64/share) withdrawn Oct 2025. Monitor for definitive filing. Watch borrow rate for squeeze risk.

SHEL >> ARX (Cross-Border Acquirer) | Cash/Stock (75/25)

KEY DATE	H2 2026
KEY EVENT	Shareholder/Court/Regulatory Approvals
EST. CLOSE	H2 2026
ANNOUNCED	~4/25/26

PRIORITY RATING 42 | TU 10 RF 18 FS 10 OE 4

ACTION TYPE	Cross-Border Acquirer
DEAL VALUE	~$16.4B EV
STRUCTURE	Cash/Stock (75/25)
TRADER TIER	MANDATORY

Shell agreed to acquire ARC Resources (TSX: ARX). $13.6B equity / $16.4B EV. Consideration ~75% Shell shares / 25% cash (~228M SHEL shares + ~$3.4B cash). Closing H2 2026 subject to ARC shareholder + court approvals and regulatory clearances. Canadian target borrow (ARX.TO) and SHEL hedge borrow both relevant. Stock-heavy consideration may stimulate SHEL shorting from arbs. Cross-border custody, Canadian settlement, and tax mechanics may affect recall timing.

SPINOFF >> MMM-CA (Reported Spin-Off (Consumer Adhesives)) | Distribution

KEY DATE	TBD (REPORTED)
KEY EVENT	REPORTED Consumer-Adhesives Spin-Off \| Unverified; Not Found in Primary Filings
EST. CLOSE	TBD
ANNOUNCED	Reported ~Jun 2026

PRIORITY RATING 30 | TU 4 RF 8 FS 14 OE 4

ACTION TYPE	Reported Spin-Off (Consumer Adhesives)
DEAL VALUE	~$5.5B (Reported)
STRUCTURE	Distribution
TRADER TIER	MANDATORY

REPORTED, UNVERIFIED. A reported 3M consumer-adhesives spin-off (Form 10, est. ~$5.5B, reported record date ~Sep 15) was flagged in reconciliation research but could NOT be confirmed against any primary filing. The only 3M separation on record is the completed Solventum (healthcare) spin-off; no consumer-adhesives Form 10 was located on EDGAR. Carried as a REPORTED watch item only; do NOT pre-position. No recall action. Verify against a 3M Form 10 / 8-K before treating as actionable; absent a primary filing this row remains REPORTED and unconfirmed.

TBD >> KW (Take-Private (Bond-Financed)) | Cash

KEY DATE	TBD (Pending Definitive Agreement)
KEY EVENT	Bond Tender Tied to Take-Private Financing \| Acquirer TBD
EST. CLOSE	TBD
ANNOUNCED	5/15/26

PRIORITY RATING 46 | TU 6 RF 22 FS 14 OE 4

ACTION TYPE	Take-Private (Bond-Financed)
DEAL VALUE	TBD (Pending Definitive Agreement)
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW May 18 (surfaced via concurrent bond actions). Kennedy-Wilson Holdings take-private financing surfaced May 15 via Kennedy-Wilson IR press release announcing: (i) tender for any-and-all 5.000 percent senior notes due 2031 ($600M outstanding) at $1,010 per $1,000 plus accrued interest, and (ii) conditional full redemption of 2029 and 2030 notes | all explicitly tied to take-private financing. Per Kennedy-Wilson IR. Acquirer identity and per-share cash consideration need confirmation from definitive merger agreement and SC 13E-3 / proxy filings expected in coming weeks. ALL-CASH = MANDATORY RECALL AT CLOSING (once terms confirmed). Begin recall preparation against expected close window. Bond and equity loan closeouts may converge near merger close. Multiple bond series in tender; credit-and-equity hedge book coordination required.

TXN >> SLAB (Cash Merger) | Cash

KEY DATE	H1 2027
KEY EVENT	SLAB Vote Approved Apr 30 \| Awaiting Regulatory Clearance (HSR + Foreign)
EST. CLOSE	H1 2027
ANNOUNCED	2/4/26

PRIORITY RATING 46 | TU 6 RF 22 FS 14 OE 4

ACTION TYPE	Cash Merger
DEAL VALUE	$7.5B
STRUCTURE	Cash
TRADER TIER	MANDATORY

Texas Instruments $TXN acquiring Silicon Laboratories (SLAB). SLAB shareholders voted to adopt the merger agreement April 30, 2026. Regulatory clearance (HSR + foreign competition reviews) is the remaining gate. Semiconductor consolidation carries Second Request risk | timeline may extend. Consideration mix (cash vs. stock) not yet confirmed in notes; verify against definitive merger agreement to determine TXN arb-borrow profile. SLAB borrow direction depends on balance of cover flows vs. regulatory-risk shorts.

UHS >> TALK (Cash Merger) | Cash

KEY DATE	Q3 2026
KEY EVENT	Shareholder Vote
EST. CLOSE	Q3 2026
ANNOUNCED	Mar 2026

PRIORITY RATING 58 | TU 14 RF 22 FS 18 OE 4

ACTION TYPE	Cash Merger
DEAL VALUE	$835M
STRUCTURE	Cash
TRADER TIER	MANDATORY

NEW Mar 11. UHS acquiring Talkspace at $5.25/share all-cash. Close Q3 2026 pending TALK shareholder vote. Monitor Schedule 14A filing. TALK on Hot List.

ABBV >> APGE (Acquisition) | Cash

KEY DATE	Q3 2026 (Close)
KEY EVENT	Definitive Jun 22 │ All-Cash $135.11 │ Vote + Regulatory Pending │ Close Q3 2026
EST. CLOSE	Q3 2026
ANNOUNCED	6/22/26

PRIORITY RATING 58 │ TU 14 RF 22 FS 12 OE 10

ACTION TYPE	Acquisition
DEAL VALUE	~$10.9B equity
STRUCTURE	Cash ($135.11)
TRADER TIER	MANDATORY

NEW Jun 29. Verified vs AbbVie / Apogee joint release and PR Newswire (June 22, 2026). AbbVie to acquire all outstanding Apogee common stock for $135.11 per share in cash, ~$10.9 billion equity value (~49.5% premium). Both boards approved; close expected Q3 2026 subject to Apogee shareholder approval and regulatory clearance; Fairmount and Venrock voting agreements in place. ALL-CASH = MANDATORY RECALL at closing. APGE is the borrow-relevant target leg; no acquirer-stock hedge leg. Biotech/immunology ETF rebalance exposure on removal at close.

FOREIGN >> TECH (Acquisition) | Cash

KEY DATE	TBD (HSR / Vote)
KEY EVENT	Definitive Jun 25 │ All-Cash $73.00 │ ~$11.3B EV │ Vote + Regulatory Pending
EST. CLOSE	TBD 2026
ANNOUNCED	6/25/26

PRIORITY RATING 54 │ TU 8 RF 22 FS 14 OE 10

ACTION TYPE	Acquisition
DEAL VALUE	~$11.3B EV
STRUCTURE	Cash ($73.00)
TRADER TIER	MANDATORY

NEW Jun 29. Verified vs Merck KGaA / Bio-Techne release (June 25, 2026). Merck KGaA, Darmstadt, Germany to acquire Bio-Techne for $73.00 per share in cash, ~$11.3 billion enterprise value. Foreign acquirer (no listed US acquirer borrow leg). ALL-CASH = MANDATORY RECALL at closing. TECH is the borrow-relevant target leg with biotech/tools ETF rebalance exposure at close. Confirm definitive 8-K and tender/merger structure and statutory regulatory timeline.

CRH >> ACA (Acquisition) | Cash

KEY DATE	H2 2026 (Vote / Regulatory)
KEY EVENT	Announced Jun 22 │ All-Cash $150.00 │ ~$8.5B EV │ Vote + Regulatory Pending
EST. CLOSE	H2 2026
ANNOUNCED	6/22/26

PRIORITY RATING 52 │ TU 10 RF 22 FS 12 OE 8

ACTION TYPE	Acquisition
DEAL VALUE	~$8.5B EV
STRUCTURE	Cash ($150.00)
TRADER TIER	MANDATORY

NEW Jun 29. Verified vs CRH / Arcosa release (June 22, 2026). CRH to acquire Arcosa in an all-cash transaction at $150.00 per share, ~$8.5 billion enterprise value, subject to Arcosa stockholder and regulatory approvals. ALL-CASH = MANDATORY RECALL at closing. ACA is the borrow-relevant target leg; no acquirer-stock hedge leg. An early secondary headline citing a Q1 2026 close is inconsistent with the June-2026 announcement; carrying H2 2026 pending the definitive 8-K.

IPSN >> Kartos (Acquisition (Private Target)) | Cash + Milestones

KEY DATE	TBD (HSR / Close)
KEY EVENT	Definitive Private-Target │ $450M Upfront + up to $1.3B Milestones
EST. CLOSE	TBD 2026
ANNOUNCED	6/2026

PRIORITY RATING 30 │ TU 6 RF 8 FS 12 OE 4

ACTION TYPE	Acquisition (Private Target)
DEAL VALUE	~$1.75B total potential
STRUCTURE	Cash + Milestones
TRADER TIER	MANDATORY

NEW Jun 29. REPORTED; confirm definitive agreement. Ipsen to acquire private Kartos Therapeutics: $450 million upfront plus up to $1.3 billion in milestones, ~$1.75 billion total potential value (not merely "up to $1.3 billion"). No public target borrow; the borrowed public leg, if any, is the acquirer. Ipsen trades primarily in Paris (FOREIGN); monitor only for basket or event-hedge flow. Private target, no float impact; acquirer-side watch.

ISSUER >> ALIT (Reverse Split) | Reverse Split

KEY DATE	Jun 30, 2026 (Effective)
KEY EVENT	Announced Jun 18 │ Effective Jun 30 │ Split-Adjusted Trading Jul 1
EST. CLOSE	Jun 30, 2026
ANNOUNCED	6/18/26

PRIORITY RATING 55 │ TU 20 RF 8 FS 15 OE 12

ACTION TYPE	Reverse Split
DEAL VALUE	N/A
STRUCTURE	Reverse Split (1-for-20)
TRADER TIER	MANDATORY

NEW Jun 29. REPORTED. Alight announced a 1-for-20 reverse split on June 18, 2026; effective date June 30 with split-adjusted trading beginning July 1. Lending treatment is operational rather than directional: loan-quantity adjustment, collateral re-mark, options/warrant/convertible deliverable adjustment, and fractional-share cash processing across the effective date. Classified MANDATORY as an operational, recall-neutral corporate action (no IPO/lockup/offering/convert/PIPE supply edge, so not SQUEEZE). Confirm against the ALIT 8-K / exchange notice before publication.

SECTION 2 | Key Status / Notes | Sorted by Priority Rating (descending)

PRIORITY

ACQ

TGT

KEY STATUS / NOTES

PRIVATE

LSTA

UCB

Peach State

QXO

BLD

ESQ

Signature

ISSUER

IREN

IONQ

SKYT

REAX

RMAX

LGND

XOMA

SOUN

LPSN

SPINOFF

HONA

P/E

ELSE

PRIVATE

FARM

CVBF

HTBK

[TICKER CORRECTED: Heritage Commerce Corp = HTBK] California bank consolidation. March shareholder vote held (monitor result). S-4 filed 1/15. Close targeted 6/30/26.

P/E

JHG

STEL

USAR

RUM

Northern

ISSUER

MANE

MCFT

MPX

P/E

AVNS

BBBY

FTHM

HOMB

MCBI

ISSUER

OPTU

CCL

CUK

BKR

GTLS

BCO

NATL

PRIVATE

RLYB

TBD

SHCO

PRIVATE

DSP

PRIVATE

TDG

P/E

WSR

BKH

NWE

LIEN

REFI

PRIVATE

TWO

KKR

FSK

ACLS

VECO

Both shareholder votes approved 2/6. China SAMR is ONLY remaining condition. Pure regulatory binary. SAMR timeline unpredictable given US semiconductor geopolitics.

CTAS

UNF

HOS

HLX

RIG

VAL

WFRD

NCSM

P/E

ALEX

DSX

GNK

FOREIGN

TBRG

LPRO

UHS

TALK

NEW Mar 11. UHS acquiring Talkspace at $5.25/share all-cash. Close Q3 2026 pending TALK shareholder vote. Monitor Schedule 14A filing. TALK on Hot List.

P/E

CZR

GSK

NUVL

RUMORED

BF.B

PSA

NSA

BSX

PEN

KMB

KVUE

MoE

GETY

P/E

AES

PRIVATE

HIMS

P/E

IPO

LCLN

ISSUER

AEIS

ISSUER

AMKR

ISSUER

AVAV

ISSUER

ORA

ISSUER

SHAZ

AMZN

GSAT

UNP

NSC

FOXA

ROKU

INGR

TATE

PEBO

CZNL

ISSUER

IONETIX

ISSUER

ONDS

ISSUER

SPIR

OWL

SILA

BRC

HON

BRK.B

TMHC

FOREIGN

BKR

FOREIGN

OLPX

ISSUER

MGA

ONTO

P/E

EEX

CIR

ISSUER

SCHL

MGMT

FORA

SPINOFF

ABF

IPO

SPCX

OLN

HUN

DESPAC

LOKV

ENVA

GRASS

Small fintech acquisition. Extended timeline. Minimal near-term action.

SUNE

Suniva

MoE

LCII

DESPAC

IPFX

DESPAC

SVAQ

DESPAC

GRAF

PSKY

WBD

DHR

MASI

All-cash at $180/sh (~69% prem to unaffected). Requires MASI shareholder approval + regulatory clearances. H2 close. Monitor proxy filing for record date.

P/E

BHF

Shareholders approved 2/12. Multi-state insurance regulatory approvals only (~6-12 months). Model Q3-Q4 2026 recall window.

P/E

CCO

PRIVATE

AMRX

DESPAC

FGMC

RUMORED

PZZA

SPINOFF

CTVA

MoE

MKC

MoE

CRBG

NEE

DESPAC

SPKL

MoE

WTRG

BHP

AAL

PSH

UMG.AS

FOREIGN

OGN

P/E

TXNM

FERC approved 2/20. FCC + HSR + PUCT done. TWO REMAINING: NRC (Palo Verde nuclear) + New Mexico PRC (~Aug 2026). $350M rev. term. fee. Deadline 12/31/26.

TXN

SLAB

TBD

DESPAC

MACI

ISSUER

NFE

ISSUER

SHEL

ARX

ISSUER

STR-LK

INCY

Vega

FSUN

HMST

NVDA

MRVL

PRIVATE

SYY

ISSUER

DVN

ISSUER

CCI

ISSUER

SNDK

APLD

EKSO

ADSK

ADSK-MX

ADI

ADI-EMP

MDA

BCT

NEE

CALIBER

SPINOFF

MMM-CA

CRM

Fin

MSI

D-Fend

JNJ

Firefly

SPINOFF

MBGL

SYNA

SPINOFF

CMCSA

ABBV

APGE

ISSUER

ALIT

NEW Jun 29. REPORTED. Alight announced a 1-for-20 reverse split on June 18, 2026; effective date June 30 with split-adjusted trading beginning July 1. Lending treatment is operational rather than directional: loan-quantity adjustment, collateral re-mark, options/warrant/convertible deliverable adjustment, and fractional-share cash processing across the effective date. Confirm against the ALIT 8-K / exchange notice before publication.

FOREIGN

TECH

CRH

ACA

DESPAC

CCXI

PLD

SEGRO

IPSN

Kartos

SECTION 3 | IPO Lockup Monitor

Ticker

Company

Unlock Date

Shares Sold / Locked

Sold/Locked %

Sector

Borrow Outlook

Action Required

KLAR

Klarna Group

Mar 9, 2026 ✓ EXPIRED

34.3M sold / ~342M locked

9% / 91%

Fintech / BNPL

ELEVATED

LOCKUP EXPIRED. Monitor post-unlock float behavior daily.

PTRN

Pattern Group

Mar 9, 2026 ✓ EXPIRED

21.4M sold / ~97M locked

18% / 82%

E-Commerce / Tech

MODERATE

LOCKUP EXPIRED. Monitor Form 4 filings for insider sell activity.

GEMI

Space Station

Mar 11, 2026 ✓ EXPIRED

~15.2M sold / ~102M locked

~13% / ~87%

Crypto Exchange

ELEVATED

LOCKUP EXPIRED. Monitor post-unlock Form 4 activity from Winklevoss founders.

FIGR

Figure, Inc.

Mar 6, 2026 ✓ EXPIRED

TBD / TBD locked

TBD

Fintech / Digital Assets

MODERATE

LOCKUP EXPIRED. Monitor post-unlock borrow rate. Track Form 4 filings.

LBRX

Liberix Therapeutics

Mar 11, 2026 ✓ EXPIRED

Verify prospectus

TBD

Biotech / Therapeutics

MODERATE

LOCKUP EXPIRED. Monitor post-unlock borrow rate.

BRCB

Black Rock Coffee Bar

Mar 11, 2026 ✓ EXPIRED

Verify prospectus

TBD

Food & Beverage / QSR

MODERATE

LOCKUP EXPIRED. Monitor borrow demand.

VIA

Via Transportation Inc

Mar 11, 2026 ✓ EXPIRED

Verify prospectus

TBD

Transit Tech / SaaS

MODERATE

LOCKUP EXPIRED. Monitor Form 4 activity.

LGN

Legence Corp

Mar 11, 2026 ✓ EXPIRED

Verify prospectus

TBD

Energy / HVAC Services

MODERATE

LOCKUP EXPIRED. Monitor borrow demand.

STUB

StubHub Holdings

Mar 16, 2026 ✓ EXPIRED

~34.0M sold / ~275M locked

~11% / ~89%

Live Events / Ticketing

HIGH

LOCKUP EXPIRED. Monitor sponsor block trade risk (Madrone 22%, WestCap 11%, Bessemer 8%).

NTSK

Netskope, Inc.

Mar 18, 2026 ✓ EXPIRED

55.0M sold / ~449M locked

11% / 89%

Cybersecurity

ELEVATED

Lockup expired Mar 18; monitor residual borrow rate and locate availability on the 449M unlocked shares.

MPLT

MapLight Therapeutics

Apr 27, 2026 ✓ EXPIRED

~17.4M IPO + pre-IPO insiders

IPO ~$258.9M gross

Biotech / Neuro/Psych

ELEVATED

LOCKUP EXPIRED. Monitor post-unlock float behavior daily.

NAVN

Navan Inc

Apr 28, 2026 ✓ EXPIRED

~32.7M sold / ~229M locked

~13% / ~87%

Travel / Expense Mgmt SaaS

ELEVATED

LOCKUP EXPIRED. Monitor post-unlock float behavior daily.

BETA

BETA Technologies

May 4, 2026 ✓ EXPIRED

29.9M sold / ~220M locked

12% / 88%

Aviation / eVTOL

MODERATE

LOCKUP EXPIRED. Monitor post-unlock float behavior daily.

BLLN

BillionToOne Inc

May 5, 2026 ✓ EXPIRED

Verify prospectus

TBD

Biotech / Diagnostics

MODERATE

LOCKUP EXPIRED. Monitor post-unlock float behavior daily.

WLTH

Wealthfront

Jun 10, 2026

34.6M sold / ~197M locked

15% / 85%

Fintech / Wealthtech

MODERATE

Add to pipeline. Note Wellington cornerstone exclusion.

MDLN

Medline Inc.

Jun 15, 2026

248.4M sold / ~1.5B locked

14% / 86%

Healthcare / MedSup

HIGHEST

SECONDARY CLOSED Mar 10: PE sponsors (Blackstone, Carlyle, H&F) sold 86.25M shares (~$4.2B). First post-IPO sell-down. Additional sponsor sell-downs expected at Jun 15 lockup expiry. Begin borrow position build by mid-May. Watch for S-3 or Form 144 filings Apr/May.

MMED

MiniMed Group (Medtronic Spin-Off)

~Sep 6, 2026

Verify | ~90% locked (10% float)

~10% / ~90%

MedTech / Insulin Delivery

ELEVATED (90% locked)

Add to Q3 watch list. Begin monitoring when within 60 days (~Jul 7).

NAKA

Nakamoto Inc (BTC Inc / UTXO)

~Aug 20, 2026

N/A (De-SPAC)

N/A

Bitcoin Ecosystem

MODERATE

Monitor for Form 4 filings. Add to Q3 watch list when within 60 days (~Jun 20).

YDDL

One One Green Technologies Inc.

Apr 9, 2026 ✓ EXPIRED (Principals Extended to ~Jul 9)

N/A

Green Tech

MONITOR

Monitor non-extending holders

JAN

Janus Living, Inc.

Apr 29, 2026 ✓ EXPIRED

~6.3M sold (over-allotment) / ~42M locked

~13% / ~87%

REIT (Senior Housing)

ELEVATED

LOCKUP EXPIRED. Monitor post-unlock float behavior daily.

SWMR

Swarmer, Inc.

~Apr 27, 2026 ✓ EXPIRED

3.45M sold (incl. over-allotment) / ~7.5M locked

~31% / ~69%

Defense Tech / Drone SW

TIGHT

LOCKUP EXPIRED. Monitor post-unlock float behavior daily.

Source: ASC Corporate Actions Calendar; SEC EDGAR S-1/F-1 prospectus filings; CA_Calendar_and_Ticker_List desk notes. Share counts approximate. CUSIP 'Verify prospectus' requires confirmation from primary SEC filing. Days to Unlock from March 23, 2026. MMED lockup ~Sep 6, 2026 | move to Q3 2026 calendar.

AVLN

Avalyn Pharma Inc.

~Oct 28, 2026 (180-day from May 1)

TBD / ~180-day lock-up

N/A

Biopharma

HTB (new IPO)

Set 180-day lock-up expiry calendar ~Oct 28, 2026. Verify against final prospectus.

MANE

Veradermics Inc.

Aug 2, 2026 (IPO lock-up); ~Jul 30, 2026 (follow-on)

~20M shares (IPO lock-up); ~3.84M (follow-on lock-up)

N/A

Biopharma / Dermatology

ELEVATED (large unlock)

Flag Aug 2, 2026 as primary supply event (~20M-share IPO lock-up expiry). Flag ~Jul 30 as secondary (follow-on lock-up). Monitor underwriter release provisions.

HAWK

HawkEye 360, Inc.

~Nov 3, 2026

16.0M IPO (+2.4M option) / ~pre-IPO insiders locked

IPO ~$416M gross

Geospatial Intelligence / Defense Tech

ELEVATED

Add to pipeline. Track 180-day lockup expiry ~Nov 3, 2026.

LIFE

Ethos Holdings

May 14, 2026 (25% early release); remainder to ~Jul 27, 2026

~5.1M Class A released; balance held

~25% partial (early release)

Life Insurance Tech

EASIER (post-release)

Monitor utilization shift post-May 14; track second tranche through Jul 27

CBRS

Cerebras Systems

~Nov 11, 2026 (180-day from May 15 IPO)

~34.5M (priced + greenshoe; ~6.4% of total)

Large insider / VC lock-up

AI Semiconductors

HARDER (limited float)

Pre-position locates immediately; monitor Form 144 / SC 13D-A activity through Q3

FRVO

Fervo Energy Inc.

~Nov 9, 2026 (180-day from May 13 IPO)

~80.5M (priced + greenshoe; founder / VC locked)

Founder + VC lock-up

Geothermal Energy

HARDER (founder/VC lock-up)

Pre-position locates; monitor for follow-on issuance

BXDC

Blackstone Digital Infrastructure Trust

~Nov 11, 2026 (180-day from May 15 IPO)

87.5M shares + option (gross ~$2.0B)

Sponsor and institutional lock-ups

Digital Infrastructure / REIT

ELEVATED (Blackstone-related concentration)

Watch borrow scarcity and institutional allocation concentration

GMRS

GMR Solutions Inc.

~Nov 10, 2026 (180-day from May 14 IPO)

31.9M Class A shares + concurrent $500M PIPE

Insider + PIPE lock-ups

Solutions / TBD

HARDER (thin public float vs valuation)

Pre-position locates; track PIPE resale registration filings

EROK

EagleRock Land Holdings

~Nov 10, 2026 (180-day from May 14 IPO)

17.3M Class A + 2.595M option (~$286M to $331M)

Insider lock-up

Energy / Mineral Land

HARDER (small float vs $2B+ valuation)

Pre-position locates; energy/minerals theme borrow watch

WSE

Wise Group plc

N/A (Reorganization Cross-Listing; No Standard 180-Day Lockup)

Existing share base, no new issuance

N/A (Reorganization)

Fintech / Payments

STANDARD (cross-market mechanics)

Confirm cross-market inventory and ADR/local-line substitutability with custodians

SPCX

Space Exploration Technologies (SpaceX)

~Aug 2026 (Tranche 1, earnings-triggered)

~20% Tranche 1 (rolling ladder)

Locked (staggered)

Aerospace

HTB / hot (thin float)

Forward-calendar the tranche ladder; pre-position locates ahead of the ~Aug earnings release.

SECTION 4 | SPAC / De-SPAC Monitor

Ticker

Company / Target

Status

Key Date

Trust Value

Action Required

LOKV

Teamshares De-SPAC

S-4 Public ~Late Mar

S-4 ~Late Mar; Vote/Close Q2 2026

~$10.33

Monitor SEC EDGAR for public S-4. Set redemption deadline alert.

HSPT

SL Bio Ltd De-SPAC

Vote Approved 2/12 | Awaiting Close

Close TBD (Ext. deadline Feb 18, 2027)

~$10.00

Prepare CUSIP/ticker transition: HSPT → SLBT. Confirm Nasdaq listing approval.

BBCQ

Bleichroeder Acq. Corp II / Pasqal (Quantum)

Deal Announced | S-4 Pending

H2 2026

~$10.00

Monitor S-4 SEC filing. De-SPAC pipeline item.

TLGYF

TLGY Acq. Corp

Vote Result | Confirm

Vote held Mar 10

~$13.05

Confirm vote result. Recall if close imminent.

VACH

Voyager Acq. Corp

Vote Held Mar 12 | Confirm Result

Mar 12, 2026

~$10.71

Confirm vote result. Prepare recall if close announced.

PALO

Paloma Acq. Corp I

ETB / Searching for Target

TBD

$10.00

Lendable inventory settled. Standard SPAC borrow at ~$10.

AACI

Armada Acq. Corp III

ETB / Searching for Target

TBD

$10.00

Lendable inventory settled. Standard SPAC borrow at ~$10.

AACO

Abony Acq. Corp I

ETB / Searching for Target

TBD

$10.00

Lendable inventory settled. Standard SPAC borrow at ~$10.

POLE

Andretti Acq. II

Terminated 2/17 | Searching for New Target

New DA: TBD | Deadline ~Sep 2026

~$10.00

Monitor for new LOI or DA. Standard borrow until new deal announced.

FGII

FG Imperii Acquisition Corp

ETB / No Target | Units Separated Mar 9

TBD

$10.00

Update lendable inventory | Class A shares now trading separately.

IRAB

Iris Acq. Corp II

Unit Separation 2/24

2/24

$10.00

Confirm settled in lendable inventory.

WPAC

White Pearl Acq. Corp

Unit Separation 2/24

2/24

$10.00

Confirm settled in lendable inventory.

K2CA

K2 Capital Acq. Corp

Unit Separation 2/25

2/25

$10.00

Confirm settled in lendable inventory.

MUZEU / MUZE

Muzero Acquisition Corp

Unit Separation Mar 23

3/23/26

$10.00

Update lendable inventory | MUZE (Class A) and MUZEW (warrants) now trading.

NBRGU / NBRG

Newbridge Acquisition Limited

Unit Separation Mar 23

3/23/26

$10.00

Update lendable inventory | NBRG (Class A) and NBRGR (rights) now trading.

NAKA

Nakamoto Inc (BTC Inc / UTXO)

De-SPAC CLOSED 2/20

DONE

N/A

Track lockup expiry ~Aug 20, 2026. See IPO Lockup Monitor.

FTW

Presidio Petroleum (EQ Ventures)

De-SPAC CLOSED Mar 5, 2026

DONE

N/A

Track lockup expiry ~Sep 5, 2026. Close any remaining FTW loans.

CITE

Cartica Acq. Corp

LIQUIDATED 2/25

DONE

$12.79

CLOSE all CITE loans | CUSIP deactivated.

ACQC → BIOT

Relativity Acq. / Instinct Brothers (De-SPAC APPROVED)

De-SPAC Vote Approved 3/25 | Close Pending

Coming weeks

~$10.00

Prepare ACQC → BIOT ticker/CUSIP transition. Add BIOT to watchlist for HTB status upon Nasdaq listing.

CLBR / CLBR WS

Colombier Acquisition Corp. III (Unit Separation Mar 27)

Unit Separation Active | Mar 27

3/27/26

$10.00

Update lendable inventory | CLBR (Class A shares) and CLBR WS (warrants) now trading separately.

MACI

Melar Acquisition I / Everli Global (De-SPAC Announced)

Business Combination Announced | S-4 Pending

TBD 2026

~$10.00

Monitor MACI borrow, warrants activity, and ticker/CUSIP transition requirements.

XSLLU

Xsolla SPAC 1 (New IPO)

ETB / Searching for Target

TBD

$10.00

Add XSLLU to watchlist. Monitor future unit separation and warrant borrow dynamics.

MLAC

Mountain Lake Acq. II / Terra Quantum AG

Non-Binding LOI

TBD

~$10.00

Monitor for definitive BCA filing. Standard SPAC dynamics.

IPFX

Inflection Point Acq. VI / Quantum Space

Business Combination Agreement Jun 8 | Vote Pending

Q4 2026

~$10.00 (~$253M trust)

Monitor IPFX redemptions ahead of vote; prepare CUSIP/ticker transition IPFX to QSPC.

OPYD

Titan Acquisition Corp / OpenPayd

Business Combination Agreement Jun 1 | S-4 / Proxy Pending

TBD (Close H2 2026 Path)

~$10.00

Monitor S-4 / proxy and Titan redemptions. Add to Section 1 only if common or unit borrow becomes active.

SVAQ

Silicon Valley Acquisition Corp / EigenQ

BCA Jun 17 | S-4 Pending | Expected Nasdaq EIGQ

Q4 2026

~$215M trust

Monitor SVAQ redemptions, PIPE delta-hedge, warrants; surface to Section 1 if common/unit borrow activates.

GRAF

Graf Global Corp / BIG3 Basketball

BCA Jun 12 | Extension Vote by Jun 27 | Expected NYSE TONT

Q4 2026

~$249M trust

Monitor GRAF June 27 extension vote, redemptions, $50M min-cash condition, warrants.

SPKL

Spark I Acquisition Corp / ZincFive

BCA Jun 11 | S-4 Framework | Expected Nasdaq ZFIV

H2 2026

TBD

Monitor SPKL redemptions, warrants; surface to Section 1 if borrow activates.

MBAV

M3-Brigade Acquisition V / ReserveOne (TERMINATED)

TERMINATED Jun 12 | Meeting Cancelled | S-4 Withdrawal Requested

Terminated Jun 12, 2026

~$10.00

No borrow action. Reference event only; SPAC seeking 12-month extension to Aug 2, 2027.

SECTION 5 | Closed / Terminated / Removed

Ticker

Deal

Status

Close/Term Date

Consideration

Notes

NXST / TGNA

Nexstar / TEGNA

CLOSED | NYSE DELISTED 3/20/26

3/19/26

$22.00 cash ($6.2B)

Nexstar closed $6.2B acquisition Mar 19. FCC + DOJ approved. TGNA delisted Mar 20. ALL TGNA loans must be marked flat. NOTE: Mar 18 TGNA debt tender ($30/$1000 premium on notes) was a debt event | not equity.

CFLT

IBM / Confluent

CLOSED | Nasdaq DELISTED 3/17/26

3/17/26

All-cash ($11B)

IBM $11B all-cash merger closed Mar 17. CFLT delisted. All CFLT loans must be marked flat.

RAPT

GSK / RAPT Therapeutics

CLOSED | Nasdaq DELISTED 3/3/26

3/3/26

$58.00 cash ($2.2B)

Tender expired 3/2/26. 30.1M shares (93.36%) tendered. GSK §251(h) effective 3/3/26. RAPT delisted Nasdaq. ALL RAPT loans must be closed.

DVAX

Sanofi / Dynavax Technologies

CLOSED | Nasdaq DELISTED Feb 2026

Feb 2026

$15.50 cash ($2.2B)

Tender expired 2/9/26 with ~73.9% tendered. Sanofi §251(h) merger complete. DVAX delisted Nasdaq. ALL DVAX loans must be closed.

AHL

Sompo / Aspen Insurance Holdings

CLOSED | NYSE DELISTED 2/24/26

2/24/26

$37.50 cash

Form 25 filed 2/24. Form 15 deregistration expected. Preference shares (D/E/F) remain listed. ALL common loans must be closed immediately.

HEES

Herc Holdings / H&E Equipment

CLOSED | Nasdaq DELISTED 6/2/25

6/2/25

$78.75 + 0.1287 HRI shares

All-cash + stock: $78.75 + 0.1287 HRI shares per HEES share. NOTE: $92.00 was competing United Rentals bid (superseded by Herc). HEES delisted Nasdaq. All loans must be closed.

INR / NOG

Antero Ohio Utica Shale

CLOSED 2/24/26

2/24/26

$1.2B cash

INR 60% / NOG 40% stakes. $350M convertible preferred at $21.39 conv. price.

CIVI

SM Energy / Civitas Resources

CLOSED 1/30/26

1/30/26

Stock

CIVI no longer trades. All CIVI loans must be closed. SM Energy is surviving entity.

AUUD

Auddia / McCarthy Finney (MCFN)

CLOSED | Restructured 2/19/26

2/19/26

N/A

Restructured into MCFN 2/19. AUUD no longer trades.

WBD / NFLX

Netflix bid for WBD Studios/Streaming

TERMINATED 2/26/26

2/26/26

N/A

Netflix declined to match PSKY $31 bid 2/26. WBD board declared PSKY superior. $2.8B termination fee covered by PSKY. Active deal: WBD → PSKY.

LNSR / Alcon

Alcon merger (LNSR)

TERMINATED 3/16/26

3/16/26

N/A

Alcon merger terminated Mar 16 after FTC signaled intent to block. Monitor post-termination volatility.

MKTW

MarketWise / Monument & Cathedral

WITHDRAWN 2/20/26

2/20/26

N/A

Unsolicited bid withdrawn 2/20. Removed from active tracking.

POLE / StoreDot

Andretti Acq. II / StoreDot De-SPAC

TERMINATED 2/17/26

2/17/26

N/A

De-SPAC terminated 2/17. POLE re-hunting. See SPAC Monitor.

ABT / EXAS

Abbott / Exact Sciences

CLOSED | Nasdaq DELISTED 3/23/26

3/23/26

$105.00 cash (~$21B equity)

Acquisition closed 3/23. Last trading day March 20; Nasdaq suspension effective March 24. 67.56% shareholder approval (Feb 20). All board/officers resigned. Form 15 filed. ALL EXAS LOANS MUST BE MARKED FLAT. Convertible notes (2027-2031) convert to cash at rate × $105.

CDE / NGD

Coeur Mining / New Gold

CLOSED | NGD Delisted 3/20/26

3/20/26

0.4959 CDE per NGD share (~$7B equity)

Coeur Mining closed acquisition of New Gold March 20. ~392.7M new CDE shares issued; CDE total outstanding now ~1.03B shares. All NGD loan positions must be converted to CDE at 0.4959 ratio. Float expanded ~62%. Monitor CDE borrow for post-issuance rate compression.

NOTE

FiscalNote Holdings | NYSE Delisted

NYSE SUSPENDED | OTC PENDING

3/25/26

N/A

NYSE Regulation commenced delisting under Section 802.01C (sub-$1.00 avg close 30 days; prior reverse split within past year). Trading suspended March 25. Company says it expects OTC trading under same ticker. Verify all outstanding NOTE loan contracts. Company evaluating NYSE appeal | no assurance of outcome.

BXMX / DIAX → SPXX

Nuveen CEF Merger (BXMX + DIAX → SPXX)

CLOSED | NYSE DELISTED Mar 30

3/30/26

SPXX conversion ratio

CEF merger effective today March 30. Last trading day March 27. CUSIP converts to SPXX. ALL BXMX and DIAX loan positions must be closed and reconciled to SPXX immediately. Any open loans past March 27 close are in fail status | escalate to operations.

BLFY / FULT

Fulton Financial / Blue Foundry

CLOSED | Nasdaq DELISTED 4/1/26

4/1/26

0.650 FULT shares per BLFY

All-stock bank merger closed Apr 1. BLFY delisted. Reconcile all positions to FULT at 0.650x.

FSUN / FFWM

FirstSun / First Foundation

CLOSED | NYSE DELISTED 4/1/26

4/1/26

FSUN stock (exchange ratio per agreement)

All-stock bank merger closed Apr 1. FFWM delisted. Lock-ups up to 24 months. $150M sub notes assumed.

GLDD / Saltchuk

Saltchuk / Great Lakes Dredge & Dock

CLOSED | Nasdaq DELISTED 4/1/26

4/1/26

$17.00 cash (~$1.5B EV)

All-cash tender closed Mar 31 (~79.9% tendered). §251(h) short-form merger effective Apr 1. GLDD delisted. Appraisal rights under §262 DGCL.

KDP / JDEP

Keurig Dr Pepper / JDE Peet's

CLOSED | Euronext Delisting Expected

4/1/26

€31.85 cash (~€14.86B)

All-cash tender settled Apr 1. ~96.22% tendered (466.7M shares). Post-closing acceptance through Apr 13. Euronext Amsterdam delisting expected. Statutory buy-out for minority.

OS / Hg Capital

Hg Capital / OneStream

CLOSED | Nasdaq DELISTED 4/1/26

4/1/26

$24.00 cash (~$6.4B equity)

All-cash take-private closed Apr 1. KKR approved (no shareholder vote needed). OS delisted. Close out all positions.

SWKH / RWAY

SWK Holdings / Runway Growth

CLOSED | Merged 4/6/26

4/6/26

RWAY stock (exchange ratio per agreement)

Three-step merger completed Apr 6. SWK became wholly owned subsidiary of RWAY. Reconcile positions.

HOLX / Blackstone/TPG

Blackstone/TPG / Hologic

CLOSED | Nasdaq DELISTED 4/7/26

4/7/26

$76.00 cash + CVR (up to $3.00) (~$17.3B)

All-cash take-private closed Apr 7. CVRs non-transferable (Breast Health milestones). ADIA/GIC minority. Close out all positions.

AL / Sumitomo et al.

Sumitomo/SMBC/Apollo/Brookfield / Air Lease

CLOSED | NYSE DELISTED 4/8/26

4/8/26

Cash (~$7.4B equity / $28.2B incl. debt)

Take-private completed Apr 8. Renamed Sumisho Air Lease Corp. ATMU named SmallCap 600 replacement. Close out all positions. NYSE Form 25 effective Apr 20, 2026.

APTV / VGNT

Aptiv VGNT Spin-Off

COMPLETED | VGNT Distribution Effective 4/1/26

4/1/26

Spin-off (1 VGNT per 3 APTV)

Spin-off completed Apr 1. Record date Mar 17. 1 VGNT share per 3 APTV. VGNT trading on NYSE since Apr 1. Aptiv $2.125B cash distribution. VGNT added to S&P, Russell, FTSE indices. Done.

DAWN / Servier

Servier / Day One Biopharma

CLOSED | Nasdaq DELISTED 4/24/26

4/23/26

$21.50 cash (~$2.5B)

Servier completed all-cash tender + merger Apr 23 at $21.50/share (~$2.5B equity). 88.18M shares (~85.3%) tendered Apr 22. §251(h) merger Apr 23. Nasdaq Form 25 filed; trading ceased Apr 22; Form 15 to follow. Close all DAWN loan positions immediately. Monitor XBI/IBB rebalancing for replacement names.

POWL / Internal

Powell 3-for-1 Forward Split

COMPLETE | 3-for-1 Effective 4/6/26

4/6/26

3-for-1 Forward Split

Forward split effective Apr 6. Loan ratio adjustments and CUSIP transition complete.

BKNG / Internal

Booking Holdings Forward Split

COMPLETE | Distribution 4/2; Trading 4/6/26

4/6/26

Forward Split (Distribution)

Forward split distribution Apr 2; split-adjusted trading Apr 6. CUSIP transition complete.

LE / WHP Global

WHP Global JV + Tender

CLOSED | JV + Partial Tender Completed 4/1/26

4/1/26

Cash Tender + JV

JV formation + partial tender completed Apr 1. Per Closed & Removed status | confirm.

VUG/MGK/VOOG/VO/VGT

Vanguard 5 ETF Forward Splits

COMPLETE | ETF Splits Effective 4/21/26

4/21/26

Forward Splits

5 Vanguard ETFs forward-split: Apr 17 record date / Apr 21 effective. Loan quantity + collateral adjustments completed. CUSIP transitions complete.

IDYA / Clinical

IDEAYA Phase 2/3 Data Readout

COMPLETE | Topline Posted 4/13/26

4/13/26

N/A (Binary Catalyst)

Phase 2/3 topline readout Apr 13. Binary clinical event complete. No ongoing recall trigger.

CRWV / Convertible

CoreWeave Convertible Settlement

COMPLETE | Convert Settled 4/14/26

4/14/26

$3.5B + $1.75B Convert

Convertible note offering settled Apr 14. Arb hedging now ongoing | watchlist item but past Key Date.

STNG / Convertible

Scorpio Tankers Convertible Settlement

COMPLETE | Convert Settled 4/10/26

4/10/26

Convertible Issuance

Convertible note offering settled Apr 10. Arb hedging ongoing.

RVMD / Equity+Convert

Revolution Medicines Concurrent Equity/Convert

COMPLETE | Settled 4/17/26

4/17/26

Equity + Convertible

Concurrent equity (closed 4/16) and convertible (closed 4/17) offerings complete.

ANAB / TRAX

AnaptysBio TRAX Spin-Off

COMPLETE | TRAX Distribution Effective 4/20/26

4/20/26

Tax-Free Spin-Off

Tax-free distribution effective Apr 20. TRAX regular-way trading active.

DHIL / First Eagle

First Eagle / Diamond Hill Investment

CLOSED | Cash Merger 4/22/26

4/22/26

Cash Merger

Cash merger closed Apr 22. Short positions force close-out completed.

NXST / Litigation

Nexstar Post-Close Litigation

COMPLETE | PI Ruling 4/17/26 (Post-Close)

4/17/26

N/A (Post-Close)

Post-close TRO/PI ruling Apr 17. Underlying NXST/TGNA merger already closed Mar 19 (see prior C&R entry).

FUBO / ONCO / RENX / CDT / TRUG / IVF / FBLG / AKTX / PAVS / SVRN / AUUD / NCT / PSTV / HTCR / AIIO / LNKS / GNLN / NXPL / JTAI / NXTS / RUBI / MOBX

Multiple Reverse Splits

COMPLETE | All Reverse Splits Mar 24 - Apr 9, 2026

Mar-Apr 2026

Reverse Splits

Batch consolidation: 22 reverse splits completed Mar 24 through Apr 9, 2026. CUSIP transitions and ratio adjustments complete. Individual entries archived. See prior calendar editions for ratios and new CUSIPs.

Other Internal Splits

ADV / ARTL / CLMB / COOK / ELAB / ELPW / GSIW / HBIO / ORGN / TVGN / USCB

COMPLETE | Internal Events Mar 2026

Mar 2026

Reverse/Forward Splits + Mergers

Batch consolidation: small-cap reverse splits and bank merger close (USCB/CWBC) completed during March 2026.

WIX / Buyback

Modified Dutch Auction Tender

COMPLETE | Buyback Closed 4/3/26

4/3/26

Modified Dutch Auction

Issuer self-tender closed Apr 1-3. ~30% float reduction. Lendable supply contracted on retired shares.

COF / Acquirer

Capital One Acquirer-Side

COMPLETE | 10.7M New Shares Issued 4/7/26

4/7/26

Acquisition (Acquirer-Side)

Capital One issued 10.7M new shares as acquirer in completed transaction Apr 7.

INTC / APO

Intel/Apollo JV Equity Repurchase

COMPLETE | $6.5B Debt Issued 4/8/26

4/8/26

JV Equity Repurchase

JV equity repurchase completed Apr 8. $6.5B new debt issuance funding.

BJK / ETF

Digital Native Economy ETF Benchmark Overhaul

COMPLETE | Rebalance 4/8/26

4/8/26

ETF Rebalance

ETF benchmark methodology overhaul completed Apr 8. Constituent rebalance flows complete.

PROP / Warrant

Prairie Operating Warrant Amendment

COMPLETE | Amendment Effective 4/7/26

4/7/26

Warrant Amendment

Warrant amendment per 8-K effective Apr 7. Warrant terms updated.

ESPR / Corstasis

Esperion / Corstasis Acquisition

COMPLETE | Apr 2/26

4/2/26

Acquisition

Corstasis acquisition completed Apr 2. Acquirer-side event.

GPUS / Special Mtg

GPUS Special Meeting

COMPLETE | Reconvened 4/10/26

4/10/26

Special Meeting

Special meeting reconvened Apr 10. Quorum risk resolved.

VRT / Strategic Thermal

Vertiv / Strategic Thermal Labs

COMPLETE | Bolt-on Closed 4/24/26

4/24/26

Cash (Undisclosed)

Vertiv completed bolt-on acquisition of Strategic Thermal Labs Apr 24. Liquid cooling capability addition. Terms undisclosed.

UP / Internal

Wheels Up Reverse Split

COMPLETE | Reverse Split Effective 4/24/26

4/24/26

Reverse Split

Reverse split effective Apr 24. Confirm ratio and new CUSIP from 8-K. Concurrent LTIP proxy filed signaling future dilution.

NKTR / Offering

Nektar Public Offering

COMPLETE | Offering Closed 4/23/26

4/23/26

4.06M Shares @ $92.00

Underwritten primary offering closed Apr 23. ~$373.8M gross / ~$350.9M net. Settlement T+2 / T+5; lending supply broadens late this week.

TH / TDR Capital

Target Hospitality Secondary

COMPLETE | Offering Closed 4/23/26

4/23/26

8.05M Shares @ $14.00

TDR Capital affiliates sold 8.05M shares at $14.00 (~$112.7M to sellers). Pure float expansion; no proceeds to TH. Lending supply broadens post-settlement.

OVV / Asset Disposition

Ovintiv $700M Note Redemption

COMPLETE | Note Redeemed 4/20/26

4/20/26

$700M Note Redemption (Bond Event)

OVV completed $700M senior note redemption Apr 20. Bond event with no equity-side recall trigger. Asset disposition + debt reduction track per prior disclosures. No forward operational item.

ACLX / GILD

Gilead Sciences / Arcellx

CLOSED | Nasdaq DELISTED Apr 28, 2026

Apr 28, 2026

$115.00 cash + $5.00 CVR

Gilead $7.8B acquisition closed Apr 28. ACLX delisted Nasdaq. Borrow pool closed. Cash-settle all open shorts vs. $115.00; CVR settles separately on contingent milestone. Verify CVR settlement routing for short positions. Lending-agent recall and reconciliation by Apr 30.

SEMR / ADBE

Adobe Inc. / Semrush Holdings

CLOSED | NYSE Trading Suspended Apr 28, 2026

Apr 28, 2026

All-cash (verify final $/sh)

Adobe all-cash acquisition of Semrush. Trading suspended pre-market Apr 28; formal NYSE delisting in process. Borrow pool closed. Cash-settle all outstanding SEMR shorts against final cash consideration. Confirm lending-agent reconciliation by Apr 30.

BHRB / LNKB

Burke & Herbert / LINKBANCORP

CLOSED | LNKB DELISTED May 1, 2026

May 1, 2026

All-stock (0.1350 BHRB per LNKB)

All-stock bank merger closed May 1. LNKB delisted. ~5.1M new BHRB shares issued. Residual LNKB shorts settle into BHRB shares at 0.1350 ratio. BHRB remains lendable post-close. Fail surveillance through May 1-4 settlement window.

ALT

N/A | Altimmune Public Offering

OFFERING CLOSED Apr 24, 2026

Apr 24, 2026

~$211-225M net (64.25M shares + warrants)

Altimmune oversubscribed offering closed Apr 24. T+1 settlement Apr 27. Supply event materialized; borrow EASIER. No further lending action.

LUCD

N/A | Lucid Diagnostics Offering

OFFERING CLOSED Apr 24, 2026

Apr 24, 2026

~$18.0M gross (18M shares @ $1.00)

Small-cap primary offering closed Apr 24. T+1 settlement Apr 27. Float expanded; borrow EASIER. No further lending action.

SWMR

N/A | Swarmer Quiet Period

QUIET PERIOD EXPIRED ~Apr 27, 2026

~Apr 27, 2026

N/A

40-day SEC quiet period on Swarmer IPO expired. Analyst coverage now permitted. No further lending action required.

SGMT

N/A | Sagimet Public Offering

OFFERING CLOSED Apr 28, 2026

Apr 28, 2026

~$175M gross (29.17M shares @ $6.00)

Sagimet $175M offering closed Apr 28. T+1 settlement Apr 29. Supply event materialized; EASIER trajectory active from Apr 29. Borrow pool expanded. No further recall action.

BZFD

N/A | BuzzFeed Going Concern / Distressed

STALE | No Forward Action (Loan Extension Expired Apr 30)

Apr 30, 2026

N/A

Going-concern situation. $5M loan payment extended through April 30. Strategic options being explored. No specific forward key date. Monitor Nasdaq compliance separately if delisting occurs.

PINS

Goldman Sachs ASR | Pinterest

ASR COMPLETED | Final Settlement by May 1, 2026

By May 1, 2026

$1.0B ASR (part of $3.5B program)

Pinterest $1.0B ASR final settlement completed by May 1. ~80% of shares delivered March 5; final VWAP true-up settled. Float contracted by realized buyback. ~$2.5B remaining under broader $3.5B program via future tranches/open-market. No further ASR action.

BMI / UDlive

Badger Meter / UDlive Limited (UK)

ACQUISITION CLOSED | Expected End of April 2026

End of Apr 2026

$100M cash + earn-out

Badger Meter acquisition of UK-based UDlive Limited for $100M + EBITDA-based earn-out. Private target; no public arb pair. Expected close end of April 2026. Funded with cash on hand. No further lending action.

TERN

Merck / Terns Pharmaceuticals

CLOSED | Nasdaq DELISTED May 5/6/26

May 5, 2026

$53.00 cash (~$6.7B)

Merck $6.7B all-cash tender expired 11:59 p.m. ET May 4, 2026 | ~86.36% of TERN shares tendered. Second-step Section 251(h) merger completed pre-open May 5. TERN delisted from Nasdaq May 5/6. ALL TERN loans marked flat; all open positions called and returned by May 4 EOD. Shorts forced to cover / close positions. Borrow demand drops to zero post-delisting.

HAWK

N/A | HawkEye 360 IPO

IPO PRICED & TRADING | Closing May 8

May 6-7, 2026

~$416M gross (16M shares @ $26.00)

IPO priced May 6, 2026 at $26.00/share (high end of range); 16M primary shares (~$416M gross); trading commenced May 7 (NYSE); close expected May 8; 30-day underwriter option for +2.4M shares. IPO event complete. Forward securities-lending tracking moved to IPO Lockup Monitor for ~Nov 3, 2026 (180-day) unlock.

TRIN

N/A | Trinity Capital BDC Watchlist

REMOVED | No Forward Action

May 6, 2026 (Q1 Earnings)

N/A

BDC capital-raise watchlist item. Q1 2026 earnings call took place ~May 6, 2026 with no new follow-on equity raise signal identified in the new-list window. No forward operational task remains; removed from active master list per Section 6.10 (no roll-forward).

SNCY

ALGT / Sun Country Airlines

CLOSED | Cash + Stock Merger Completed

May 13, 2026

$4.10 cash + 0.1557 ALGT/share (~$1.5B)

Special meetings held May 8, 2026 (both SNCY and ALGT). DOT interim exemption approved Apr 15; HSR cleared Mar 16. Expected close as early as May 13 per master list; third-party reports ( May 18) confirm close completed. Consideration: $4.10 cash plus 0.1557 ALGT share. SNCY delisting pending; borrow pool extinguished on close. Verify final CUSIP retirement and reconcile remaining loans.

CYTK

N/A | Cytokinetics Public Offering

OFFERING CLOSED May 8, 2026

May 8, 2026

~$700M gross (9.86M shares @ $71.00; +1.48M option)

Cytokinetics priced upsized public offering of 9,859,155 common shares at $71.00/share (~$700M gross; 30-day underwriter option for +1.48M). Shelf registration; closed May 8. Primary issuance; direct dilution and increased lendable supply post-settlement. No further forward action; monitor utilization for borrow-rate easing once T+2 settlement clears.

RSI

N/A | Rush Street Secondary + Concurrent Repurchase

OFFERING CLOSED May 7, 2026

May 7, 2026

~$260M secondary (10M Cl. A + 1.5M opt.); ~$100M RSI repurchase

Rush Street Interactive secondary of 10M Class A shares by selling stockholder trusts at $26.00/share; closed May 7. Greenshoe exercised for +1.5M. Concurrent company repurchase of ~1.15M shares (~$100M). No new company shares; net float change modest after buyback offset. No further forward action.

PHVS

N/A | Pharvaris Public Offering

OFFERING CLOSED ~May 11, 2026

~May 11, 2026

~$115M gross (3.87M ord. shares @ $29.68; +581k opt.)

Pharvaris underwritten offering of 3,874,664 ordinary shares at $29.68/share (~$115M gross; +581k underwriter option). Primary issuance off shelf registration; closed approximately May 11. Dilution and increased lendable supply post-settlement. Small-cap biotech; no further forward action.

VVX

N/A | V2X Secondary (Vertex Aerospace selling)

OFFERING CLOSED ~May 8 to 11, 2026

~May 11, 2026

~2.0M shares by Vertex Aerospace (no co. proceeds)

V2X secondary of approximately 2.0M common shares by selling stockholder Vertex Aerospace; closed approximately May 8 to 11. No proceeds to company. Secondary increases public float / lendable supply; sponsor-related partial exit signal. Monitor Form 4 / SC 13D-A for further sale signals from Vertex Aerospace.

SWK

N/A | Stanley Black & Decker Buyback Authorization

STALE | Authorization Only, No Execution Schedule

Authorized 4/23/26

$500M new authorization (36-month term)

Stanley Black & Decker board approved new $500M common-stock repurchase authorization Apr 23, 36-month expiry. Replaces prior 20M-share authorization. Authorization is not execution. No specific Key Date and no announced execution schedule; removed from active list per Section 4.3 (no forward action). Monitor Form 10-Q disclosures for any actual repurchase activity; re-add if execution commences.

ESHA

N/A | ESH Acquisition Corp. SPAC

SPAC LIQUIDATED (per third-party report May 18; single source)

~May 11 to 15, 2026

$10.8866/share cash distribution

SPAC liquidation reported by search dated May 18, 2026. Trust distribution of $10.8866/share. Not previously tracked in ASC SPAC Monitor; added here for record completeness. SINGLE SOURCE; confirm against 8-K and Form 15 filings before relying on for operational purposes. Routine SPAC liquidation; no securities-lending implications beyond closing out any open borrow on ESHA.

CTRA / DVN

DVN / Coterra Energy

CLOSED | Stock Merger Completed | NYSE DELISTED

May 7, 2026

0.7000 DVN per CTRA share (~$21.4B)

Coterra all-stock merger with Devon Energy closed May 7, 2026. Both shareholder votes passed May 4. HSR cleared April 1. CTRA delisted from NYSE on close; Coterra survives as wholly owned Devon subsidiary. Exchange ratio 0.7000 DVN per CTRA share. S&P 500 removal triggered index-tracker repositioning across SPY, IVV, VOO. Concurrent action: DVN board authorized $8.0B share repurchase program May 7, 2026 (expires June 30, 2029), representing ~15% of combined post-merger mcap. DVN buyback tracked separately in active master list. Verify CTRA CUSIP retirement; reconcile remaining loans; manufactured-payment exposure should have resolved on conversion to DVN.

EWCZ / GA

General Atlantic / European Wax Center

CLOSED | Take-Private Completed

~May 8, 2026

$5.80 cash (~$330M)

European Wax Center all-cash take-private by General Atlantic closed approximately May 8, 2026. GA held 42 percent pre-deal; acquired remaining 58 percent at $5.80 per share (~45 percent premium to unaffected price). Majority-of-unaffiliated vote approved May 7-8. Small-float take-private; ALL-CASH = MANDATORY RECALL AT CLOSING. Borrow pool extinguished on close. Verify CUSIP retirement and reconcile remaining loans.

APLS / BIIB

Biogen / Apellis Pharmaceuticals

CLOSED | Cash Tender Completed | NASDAQ DELISTED

May 14, 2026

$41.00 cash + CVR up to $4.00 (~$5.6B + CVR)

Per Biogen IR press release. Cash tender by Aspen Purchaser Sub (Biogen subsidiary) expired May 13, 2026 at 11:59:01 p.m. ET; 82.4 percent of shares tendered. HSR cleared May 11. Non-tendered shares converted in Section 251(h) second-step merger at the same consideration. APLS ceased Nasdaq trading May 14. CVR remains outstanding and trades separately (tied to SYFOVRE sales milestones up to $4.00). ALL-CASH (with CVR) MANDATORY RECALL completed. Verify CUSIP retirement; CVR distribution handling required for residual short positions; CVR creates nonstandard manufactured-payment exposure.

TPH / Sumitomo

Sumitomo Forestry Co. / Tri Pointe Homes

CLOSED | All-Cash Acquisition Completed | NYSE DELISTING

May 14, 2026

$47.00 cash (~$4.5B)

Per Tri Pointe Homes IR press release. Sumitomo Forestry completed all-cash acquisition of Tri Pointe Homes at $47.00 per share May 14, 2026. TPH became wholly owned subsidiary; ceased NYSE trading. Adds more than 160 active communities in 13 states to Sumitomo Forestry US operations. ALL-CASH MANDATORY RECALL completed; no U.S.-listed acquirer hedge required. Verify CUSIP retirement and reconcile remaining loans. CFIUS review resolved (Japanese strategic buyer).

UDMY / COUR

Coursera / Udemy

COMPLETE | All-Stock Merger Closed | UDMY DELISTED

May 11, 2026

0.800 COUR share per UDMY share (~$2.5B combined)

Per Coursera IR press release. Coursera completed merger with Udemy May 11, 2026. Each UDMY share converted into 0.800 COUR shares. Former Coursera holders own approximately 59 percent of combined entity; former Udemy holders approximately 41 percent. COUR continues trading on NYSE; UDMY delisted from Nasdaq. Coursera also indicated share-repurchase-program details expected within two weeks of close. Stock-leg arb unwound; UDMY borrow extinguished. Watch COUR for share-issuance settlement, cash-in-lieu mechanics on fractional shares, and forthcoming repurchase authorization which may further affect float.

CSGS / NEC

NEC / Netcracker / CSG Systems

CLOSED | Cash Take-Private | NASDAQ SUSPENDED

May 13 to 15, 2026

$80.70 cash per CSGS share

Per NEC corporate-action alert. NEC and Netcracker completed acquisition of CSG Systems International. Halt after hours May 13; last trading day May 13; Nasdaq suspension effective May 15. Clean all-cash take-private at $80.70 per share. ALL-CASH MANDATORY RECALL completed. Acquirer is non-listed Japanese strategic (NEC parent); no U.S.-listed hedge required. Verify CUSIP retirement; reconcile remaining loans; confirm settlement instructions with custodians for the halt-to-suspension transition window.

SLNO / NBIX

Neurocrine / Soleno Therapeutics

CLOSED | Tender Completed May 15 | NASDAQ DELISTED

May 15, 2026

$53.00 cash (~$2.9B); 88.9% (46.4M sh) tendered

per reconciliation research: Neurocrine completed acquisition; Soleno ceased Nasdaq trading. Reconcile open loans; CUSIP retired.

MCW / Leonard Green

Leonard Green & Partners / Mister Car Wash

CLOSED | Take-Private Completed

May 19, 2026

$7.00 cash (~$3.1B EV)

per reconciliation research: take-private completed May 19. Hard recall complete; verify CUSIP retirement.

VRE / Affinius

Affinius Capital / Vista Hill / Veris Residential

CLOSED | Take-Private Completed

May 27, 2026

$19.00 cash (~$3.5B EV)

per reconciliation research: cash take-private completed May 27; delisted. Reconcile remaining loans.

AMWD / MBC

MasterBrand / American Woodmark

CLOSED | All-Stock Merger Completed | AMWD DELISTED May 29

May 28, 2026

5.150 MBC per AMWD (~$3.6B)

per reconciliation research: closed May 28, AMWD delisted Nasdaq May 29. Unwind stock-for-stock arb.

INFA / CRM

Salesforce / Informatica

CLOSED | Acquisition Completed Nov 18, 2025 | NYSE DELISTED

Nov 18, 2025

All-cash (~$8B equity)

CORRECTION (per reviewer + Salesforce 8-K): Salesforce completed the Informatica acquisition Nov 18, 2025. Prior active-pending listing was stale and overstated value (~$11.2B). Removed from active; no recall obligation outstanding.

SEE

P/E / SEE

CLOSED | Acquisition Completed | NYSE DELISTED

Apr 9, 2026

$42.15 cash ($10.3B EV)

Verified vs SEE 8-K Item 2.01: CD&R completed acquisition Apr 9, 2026; shares ceased trading NYSE. Prior active-pending listing was stale.

EHAB

P/E / EHAB

CLOSED | Take-Private Completed | NYSE DELISTED

May 15, 2026

$13.80 cash (~$1.1B EV)

Verified vs EHAB 8-K Item 2.01: Kinderhook (Anchor Parent) completed take-private May 15, 2026; NYSE delisted.

OCFC

OCFC / OCFC

CLOSED | Flushing Merger Completed

Jun 1, 2026

0.85 OCFC per FFIC (~$560.9M)

Verified vs OCFC/FFIC 8-K: merger completed Jun 1, 2026; FFIC filed Form 25, delisted Nasdaq. Concurrent $225M Warburg Pincus investment.

DDS

WDC / DDS

CLOSED | Internal WDC Merger Effective

Jun 4, 2026

Non-dilutive; no public float change

Verified vs DDS 8-K: merger of W.D. Company (Dillard family holding co.) into Dillards effective ~June 4, 2026; WDC holdings converted to treasury then cancelled/reissued as proportional Class A/B plus minimal cash. Approved at May 2026 annual meeting. Non-dilutive; public stakes unchanged. No forward action; removed from active set.

AUPH / KZR

Aurinia Pharma U.S. / Kezar Life Sciences

CLOSED | Cash Tender + CVR Completed | NASDAQ DELISTED

May 11, 2026

$6.955 cash + 1 CVR (~80.24% tendered)

Verified vs Kezar 8-K and SC TO-T/A: Aurinia completed the $6.955-per-share cash tender plus one non-transferable CVR on May 11, 2026; tender expired May 8 with ~80.24% (5,927,580 shares) tendered, satisfying the minimum condition. Section 251(h) back-end merger effective May 11; Kezar became a wholly owned Aurinia subsidiary and was delisted from Nasdaq. ALL-CASH (CVR non-cash) tender = MANDATORY RECALL completed; reconcile any remaining KZR loans and CVR DTC routing; CUSIP retired.

RNA / NVS

Novartis AG / Avidity Biosciences

CLOSED | Acquisition Completed Feb 27, 2026 | NASDAQ DELISTED

Feb 27, 2026

$72.00 cash (~$12B) + Atrium SpinCo (1 per 10 RNA)

Verified vs Novartis press release Feb 27, 2026: Novartis completed the acquisition of Avidity Biosciences; Avidity is now an indirect wholly owned subsidiary. $72.00/share cash (~$12B) following the spin-off of early-stage cardiology programs into Atrium Therapeutics (SpinCo, one Atrium share per ten RNA shares, record date Feb 12). Recall wave and SpinCo distribution complete; RNA delisted from Nasdaq. Prior active-pending EDGE listing (H1 2026 expected closing) was stale; removed from active.

ASRT / Zydus

Zydus Lifesciences Ltd. / Assertio Holdings

CLOSED | Cash Tender + Merger Completed Jun 16, 2026 | NASDAQ DELISTED

Jun 16, 2026

$23.50 cash (~$166.4M); Garda deal superseded

Verified vs Assertio 8-K, SC TO-T/A, and SC 14D-9/A (Jun 16, 2026). The original Garda Therapeutics agreement (~$125M + CVR) was SUPERSEDED: Assertio's board approved a superior all-cash offer from Zydus Worldwide DMCC (subsidiary of Zydus Lifesciences) on May 13, 2026 at $23.50 per share (~$166.4M, a 30.6% premium to the Garda terms and 75.8% to the unaffected price). Tender (via Zara Merger Sub) expired 11:59 p.m. ET Jun 15; 4,286,488 shares (~66.32%) validly tendered, satisfying the minimum condition. Section 251(h) back-end merger closed Jun 16, 2026; ASRT delisted from Nasdaq and moved to terminate SEC registration. Merger triggered a Fundamental Change on the 6.50% Convertible Senior Notes due 2027 ($40M outstanding): repurchase at par or convert by Jul 16-17, 2026. ALL-CASH tender = MANDATORY RECALL completed on the target ASRT; Zydus is foreign/private, no acquirer short leg. Prior active PRIVATE>>ASRT/Garda EDGE row was stale; removed from active.

CWAN

Permira / Warburg Pincus Consortium / CWAN

CLOSED | Take-Private Completed | NYSE DELISTED

Jun 25, 2026

$24.55 cash (~$8.4B; ~$7.4B equity)

Verified vs CWAN 8-K Item 2.01 and Permira/Warburg release (Jun 25, 2026). Permira and Warburg Pincus-led Investor Group (vehicle GT Silver BidCo; supported by Francisco Partners, participation from Temasek) completed the $24.55/share all-cash take-private (~$8.4B; ~47% premium to Nov 10, 2025 undisturbed price). CWAN Class A delisted from NYSE; now wholly owned subsidiary. Resolves prior active TBD-acquirer / FIRB-pending row. ALL-CASH = MANDATORY RECALL completed; all CWAN loans marked flat; S&P MidCap 400 removal triggered index-tracker repositioning. Borrow pool extinguished on close.

CNTA

Eli Lilly / Centessa Pharmaceuticals

CLOSED | Scheme of Arrangement Effective | NASDAQ DELISTED

Jun 24, 2026

$38.00 cash + 1 CVR (up to $9.00/sh)

Verified vs Centessa 8-K and Form 4 filings (Jun 24, 2026). Eli Lilly (via subsidiary LDH XV Corporation) acquired all Centessa ordinary shares by UK scheme of arrangement effective Jun 24, 2026; holders of record 6:00pm UK time Jun 23 receive $38.00 cash per share plus one non-transferable CVR worth up to an aggregate $9.00/share on specified milestones. ADSs halted on Nasdaq; Form 25 delisting and Form 15 deregistration to follow. ALL-CASH (CVR non-cash) = MANDATORY RECALL completed; reconcile any remaining CNTA loans and CVR DTC routing; CUSIP retired.

PRA

The Doctors Company / ProAssurance

CLOSED | Acquisition Completed | NYSE DELISTED

Jun 26, 2026

$25.00 cash (~$1.3B)

Verified vs ProAssurance 8-K and The Doctors Company release (Jun 26, 2026). The Doctors Company completed the all-cash acquisition of ProAssurance at $25.00/share (~$1.3B); all insurance regulatory and antitrust approvals received (FTC HSR early termination Jul 2, 2025; stockholder approval Jun 24, 2025). PRA is now a wholly owned subsidiary and delisted from NYSE. Private physician-owned acquirer (no listed acquirer hedge leg). ALL-CASH = MANDATORY RECALL completed; PRA loans terminated and cash-settled; delisting reconciled.

DuPont de Nemours / Reverse Split

COMPLETED | 1-for-3 Reverse Split Effective | NYSE

Jun 24, 2026

1-for-3; new CUSIP 26614N 201

Verified vs DuPont / PR Newswire. The 1-for-3 reverse split (announced May 26) became effective at 12:01 a.m. ET on June 24, 2026; split-adjusted trading began that day under the same ticker DD with new CUSIP 26614N 201. Operational corporate action: loan quantities, collateral, options/warrants/convertibles, and fractional-share cash were processed across the effective date. Moved from active SQUEEZE to completed-reconciliation; no forward action beyond confirming post-effective loan and CUSIP reconciliation.

GME / EBAY

GameStop / eBay (Reported Proposal)

INACTIVE | Non-Binding Proposal Rejected | No Recall Obligation

May 12, 2026

$55.5B proposed ($125.00, 50% cash / 50% GME)

Verified vs GameStop 8-K (May 3, 2026) and eBay 8-K (May 12, 2026). GameStop disclosed a non-binding proposal to acquire eBay at $125.00 per share (50% cash / 50% GME stock, ~$55.5B); GameStop held ~5% of eBay per a concurrent Schedule 13D. The eBay board rejected the proposal on May 12, 2026. Non-binding and rejected: removed from the active set with no recall obligation. The proposal-and-rejection sequence drove material borrow volatility in both names. Tracked here as an inactive SEC-filed reference; re-add to active only on a revised offer, a GME stake increase, a Schedule 13D amendment, or a proxy filing.

APPENDIX | Trader Tier Definitions & Priority Rating Methodology

Trader Tier (operational classification). ALPHA: election or proration where some holders are forced into the suboptimal election, creating capturable arbitrage. EDGE: material spread plus structural friction (collar/floor, CVR with binding milestone, contested bid, regulatory binary, MoE, cross-border scheme). SQUEEZE: supply-shock candidate (lockup expiry, quiet-period, low-float dilutive offering, convertible delta-hedge, PIPE resale). MANDATORY: all-cash takeouts and all-stock-without-election deals; recall mandatory, edge absent. PASS: no float impact, no recall, no edge; suppressed from the published view and tracked in the master Excel.

Priority Rating (0 to 100) = Time Urgency (0-25) + Recall Force (0-25) + Float/Supply (0-25) + Optionality Edge (0-25). It is not a squeeze score but a forward-looking read on how the supply condition is likely to develop under the deal's specific mechanics. Worked example (ASRT / Garda Therapeutics): all-cash tender plus CVR with an imminent second-step settlement scores high Time Urgency and maximum Recall Force, a small-cap Float/Supply premium, and EDGE-level Optionality from the CVR, yielding a top-of-book rating. M&A anatomy (STEL/PB as secondary example): on the live mixed cash/stock deal the arb is long STEL / short PB at 0.3803, so borrow demand from arbs hedging the long-STEL leg sits on PB while STEL carries the corporate-action recall pressure at closing.

Disclaimer: This calendar is for informational and operational use only. It is not investment advice and does not contain trading recommendations or return forecasts. ASC describes mechanics and risks; it does not opine on directional positioning. Subscribers should verify all data points against primary SEC filings and company disclosures before relying on them for desk operations.

Advanced Securities Consulting LLC | Not for Distribution

Equity Financial Engineering

Active U.S. Corporates > $1 Bn Deal / EV

APPENDIX | Trader Tier Definitions & Priority Rating Methodology

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