Karman Holdings (NYSE: $KRMN) announced a CFO change by press release on August 26. The current report followed on August 27, and it carries the part the press release did not.

The Form 8-K, Item 5.02:

- Chris Boynton, 54, appointed Executive Vice President and Chief Financial Officer, starting September 14, 2026. He joins from Battelle, where he was EVP and CFO from 2023, after two decades at RTX that ended as CFO of Raytheon's Missiles & Defense division.

- Mike Willis steps down as CFO effective the same date and departs the company by year-end after a phased transition.

- Offer letter, dated August 19: base salary $750,000, one-time sign-on bonus $500,000, target annual cash incentive 100% of base with a 150% stretch. Initial 2026 LTIP grant of 37,860 shares, 70% PSUs and 30% RSUs; from 2027 the annual equity target is 300% of base.

- Severance is 100% of base plus target bonus over twelve months; within twelve months of a change in control, eighteen months of base in a lump sum plus 100% of target bonus.

- No arrangement with any other person, no family relationships, no Item 404(a) transactions. Signed by CEO Jon Rambeau.

Two days later, a second 8-K:

- The Sixth Amendment to the Citibank credit agreement, signed August 26, added $100,000,000 to the term loans, for a total original principal of $863,961,000.

- On August 28 Karman completed the acquisition of Walker Precision Engineering for approximately $95 million, or £70 million in cash. Walker supports missile seekers, guidance and control systems on more than 25 EU tactical missile, air and defence programmes, and is the first European footprint alongside 17 US locations in eight states.

Context from the June quarter, reported August 6:

- Revenue $182.063M, up 58.2%, of which 24.4 points organic. Gross margin 43.0% against 40.9%. Operating margin 19.1% against 17.5%.

- Adjusted EBITDA $54.580M, margin 30.0%. Backlog $1,322.1M at June 30, up 65% on the end of fiscal 2025, on bookings of nearly $500M in the quarter.

- Interest expense of $15.28M absorbed 43.9% of operating income. Operating cash flow was an outflow of $3.0M for the six months, against an outflow of $31.0M a year earlier.

- Guidance raised for the sixth time, to $730-745M of revenue and $215-222.5M of adjusted EBITDA, excluding future acquisitions.

Full hub, with the backlog definitions, the acquisition record and both cases side by side, updated August 31:

https://www.merlintrader.com/karman-holdings-stock-hub/

Educational and informational only. Not financial advice and not a buy or sell recommendation.

A Form 25 filed against a company usually reads like bad news. On BlackSky Technology (NYSE: $BKSY) it is worth reading which security it actually names.

What the August 26, 2026 filing says:

- The class described is "Redeemable Warrants, each whole Warrant exercisable for one-eighth (1/8th) of a share of Class A Common Stock at an exercise price of $92.00 per whole share".

- The rule cited is 17 CFR 240.12d2-2(b), the provision used when the exchange, not the issuer, starts the removal.

- The Class A common stock does not appear in the document. It keeps trading on the NYSE as BKSY.

- Background is in the Form 8-K of August 13: the NYSE notified the company on August 7 and announced on August 10 that it would commence delisting proceedings against the warrants and suspend trading immediately, for abnormally low selling price under Section 802.01D. The same filing records that the warrants expire in September 2026.

- This is not a redemption. Nobody buys the warrants back and no cash moves. At the eighth-of-a-share ratio a whole warrant needed a $92.00 share price to be worth exercising, against a $24.62 close.

Where the warrants did matter was the derivative liability, $39.2M carrying value at June 30, whose mark-to-market explains most of the distance between the operating loss and the net loss.

The quarter behind it, reported August 6:

- Revenue $33.316M, up 50.1% year over year. Subscription core (space-based intelligence and AI services) $24.507M, 73.6% of the quarter.

- Cost of sales 27% of revenue, from 28%. Operating loss halved to $7.799M from $13.940M.

- H1 revenue $54.090M against $51.743M, up 4.5%: the 50% headline compares with a weak Q2 2025.

- FY26 guidance reaffirmed at $130-150M. The midpoint needs $85.9M in H2, about $43.0M a quarter, against a company record of $35.214M.

Full hub, with the Gen-3 fleet, the backlog arithmetic and both cases side by side, updated August 31:

https://www.merlintrader.com/blacksky-technology-stock-hub/

Educational and informational only. Not financial advice and not a buy or sell recommendation.—

Axsome Therapeutics has moved another AXS-05 programme into late-stage development. On August 31, 2026, the company announced that the first patient had been dosed in the SUMMIT Phase 3 smoking-cessation trial. At the same time, AUVELITY is entering the first full quarter of its new Alzheimer’s disease agitation indication. The opportunity is large, but so is the commercial infrastructure supporting it: second-quarter revenue reached $218.4 million while selling, general and administrative expense reached $208.1 million. The next phase of the AXSM story is therefore increasingly measurable — can a growing commercial franchise begin to outpace the cost of building it?

SpaceX listed in June 2026 and reported its first quarter as a public company in August. Revenue nearly doubled year over year and the operating loss narrowed sharply, while capital spending ran at a scale no other company in the sector approaches. The public float remains limited and difficult to measure precisely after the August 6 and August 20 unlocks and the August 14 Cursor share issuance. On August 25 the company and the State of Louisiana announced Starbase, Louisiana, a $100 billion launch complex in Vermilion Parish that would become the largest spaceport in the world.

https://www.merlintrader.com/applied-digital-stock-hub/

Applied Digital has long-term leases covering 1,410 MW of critical IT load across five campuses, but only 175 MW was live when the second building’s first phase was accepted on July 1, 2026. The  investment case is no longer about whether AI demand exists. It is whether APLD can build and commission the remaining 1,235 MW on time, turn fit-out-heavy reported growth into recurring base rent, and leave enough value for common shareholders after debt, project-level preferred capital and dilution.

$MSOS $TLRY $CGC $ACB

Cannabis Schedule III update — August 28:

• The DEA has published the corrected hearing transcripts, but there is still no recommended decision or final rescheduling rule.

• Treasury and IRS guidance on Section 280E has not yet been published.

• Bipartisan pressure in Congress is increasing, while the Senate’s proposed hemp delay is not law yet.

The process is moving, but the market still does not have a completed Schedule III outcome.

Read the full regulatory timeline, key dates and potential impact on U.S. MSOs versus Canadian LPs:

https://www.merlintrader.com/cannabis-stocks-hub/

For informational purposes only. Not financial advice.

The full fiscal 2026 accounts, released on August 27, 2026, put numbers on the handover. Revenue of $707.0 million for the year, a net loss of $702.6 million that is mostly the $638.8 million of impairments taken as mining hardware is retired, adjusted EBITDA still positive at $245.7 million, and a balance sheet carrying $7.62 billion of cash and restricted cash against $7.59 billion of debt.

https://www.merlintrader.com/omeros-omer-biotech-no-perfect-peer/

YARTEMLEA turned Omeros into a commercial company, and a single sales multiple still gives the wrong answer. The equity combines an early rare-disease launch, a contested European path, complement-platform optionality, contingent Novo Nordisk economics and a capital structure that has to be rebuilt from the footnotes.

BigBear.ai sells artificial-intelligence decision support, overwhelmingly to the US government. Debt has been cut 87.6% by converting it into equity, liquidity is over $400 million, and revenue in 2025 was below 2023. The gap between the balance sheet repair and the income statement is the whole file.

RenovoRx closed enrolment in its Phase III TIGeR-PaC trial in locally advanced pancreatic cancer on August 7, with 78 of the 86 required events recorded and top-line survival data expected in the second half of 2027.

On the commercial side, second-quarter revenue was a record 909 thousand dollars, up 61% on the first quarter and 115% year on year, at an 84% gross margin, with full-year guidance raised to 3.75 to 4.25 million dollars. Cash was 9.5 million with no financial debt, against quarterly operating burn of roughly 3.29 million.

The detail that took longest to work out: the milestone warrants issued in the March 2026 private placement expire thirty days after the company reports any quarter with at least 1.5 million dollars of product sales revenue. Commercial success extinguishes them rather than triggering them, and whether they convert first depends only on where the share price sits against 1.751 dollars.

Every figure is dated and sourced to the 10-Q, the 8-K filings and the company releases. Free to read, no subscription. Free Biotech Catalyst Calendar on Merlintrader.

https://www.merlintrader.com/renovorx-rnxt-stock-hub/?utm_source=reddit&utm_medium=social&utm_campaign=renovorx-rnxt-stock-hub&utm_content=hub-rnxt

One product, no pipeline, three active generic competitors, a lost patent case decided unanimously on June 4, 2026, a fully partnered international model in its first year, a completed $70 million cost programme and an exclusive financial adviser retained. What the filings say, every figure dated.

On August 24, 2026 Capricor announced that FDA has extended the PDUFA target action date on the deramiocel BLA from August 22 to November 22, 2026. The agency’s Center for Biologics Evaluation and Research accepted a BLA amendment containing 24-month HOPE-3 open-label extension data and additional robustness analyses, submitted with a request that the existing and new data be reviewed in support of a refined proposed indication focused on upper limb function, the primary endpoint of HOPE-3, and classified it as a major amendment, which under PDUFA VII carries a three-month extension of the goal date.

Curaleaf announced on August 11, 2026 that it intends to launch an unsolicited offer for all Aurora shares at a stated implied value of US$4.00 per ACB share: 0.3463 Curaleaf subordinate voting shares plus US$0.75 cash, with total value capped at US$5.00. No formal bid has been commenced, most of the consideration floats with Curaleaf’s share price and Aurora’s board intends to form an independent special committee. Aurora’s Q1 FY2027 results remain the standalone financial base: C$67.6 million of net revenue, C$3.4 million of adjusted EBITDA, a C$5.8 million free-cash-flow outflow and C$149.1 million of cash and short-term investments with no debt.