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Ciena Corporation (CIEN) has filed a Form 144 indicating that an insider plans to sell 734 common shares through Morgan Stanley Smith Barney LLC on or about 15 July 2025 via the NYSE. The proposed transaction is valued at $60,606.38 and represents less than 0.001 % of CIEN鈥檚 141,367,218 shares outstanding. The shares were acquired as restricted stock on 20 June 2025. No other insider sales were reported in the last three months, and the filing contains no additional financial or operational disclosures.

On 11 July 2025, I-MAB (Nasdaq: IMAB) submitted a Form 6-K to notify investors that it has amended its 15 May 2025 prospectus covering the offer and sale of up to US$21 million in American Depositary Shares (ADSs). Each block of ten ADSs represents twenty-three ordinary shares with a par value of US$0.0001. The prospectus is part of the company鈥檚 shelf Registration Statement on Form F-3 (File No. 333-286954).
The filing attaches a Cayman Islands legal opinion from Harney Westwood & Riegels (Exhibit 5.1) together with the corresponding consent (Exhibit 23.1), confirming the validity of the ADSs and underlying ordinary shares. The 6-K states that the information and exhibits are incorporated by reference into the existing Form F-3 and several Form S-8 registration statements covering share-based compensation plans.
No operating or financial results are disclosed. The amendment maintains regulatory compliance and keeps the shelf registration effective, giving I-MAB flexibility to raise up to US$21 million when market conditions permit. While this improves liquidity options, it may also lead to equity dilution for current shareholders if the full amount is issued.

Form 144 filed for Nuvalent, Inc. (NUVL) discloses a planned insider sale of 2,145 Class A common shares on 07/09/2025 through NASDAQ, routed via Morgan Stanley. The filing lists an aggregate market value of $174,076.40, versus 66,373,511 shares outstanding, implying the proposed sale represents roughly 0.003 % of the float.

The seller, Henry Pelish, already executed three sales during June 2025 totaling 11,000 shares and gross proceeds of $878,619.23. The upcoming shares were acquired via RSU vesting on the same date as the intended sale and are being disposed of under Rule 144. No additional financial results, guidance, or operational updates accompany the notice. Overall, the filing signals routine personal liquidity activity with limited impact to Nuvalent鈥檚 capital structure.

Astec Industries, Inc. (NASDAQ: ASTE) filed an 8-K to report the July 1, 2025 closing of its $245 million cash acquisition of TerraSource Holdings, LLC. The purchase was effected through a Membership Interest Purchase Agreement signed on April 28, 2025 and was completed on a cash-free, debt-free basis, subject to customary post-closing adjustments.

To fund the deal and strengthen liquidity, Astec simultaneously entered into a new $600 million senior secured credit agreement with Wells Fargo as administrative agent. The facilities comprise revolving, term-loan, swingline and letter-of-credit tranches, plus an incremental accordion of up to $150 million. Proceeds from the term loan, combined with cash on hand, financed the acquisition, repaid all borrowings under the company鈥檚 prior $250 million revolver (terminated at closing), and covered transaction fees.

Key financing terms: (i) maturity on July 1, 2030; (ii) borrower option of Term SOFR +1.75%-2.75% or Base Rate +0.75%-1.75%, with pricing and commitment fees (0.15%-0.35%) tied to the company鈥檚 Consolidated Total Net Leverage Ratio; (iii) secured guarantees from U.S. domestic subsidiaries. Covenants require a Net Leverage Ratio 鈮�3.50脳 (up to 4.00脳 following certain acquisitions) and an Interest Coverage Ratio 鈮�2.50脳, alongside customary negative covenants and change-of-control repayment triggers.

Astec intends to file the required historical and pro forma financial statements for TerraSource within 71 days. A press release announcing the closing was furnished under Item 7.01.

The transaction materially expands Astec鈥檚 business while increasing funded debt and related covenant obligations, making the development impactful to investors.

Form 4 Overview 鈥� Nuvalent, Inc. (NUVL)

On 06/26/2025, Chief Development Officer Darlene Noci reported a series of option exercises and related open-market sales under a pre-arranged Rule 10b5-1 trading plan dated 11/18/2024.

• Option exercise: 4,000 Class A common shares were acquired via option exercise at an exercise price of $27.85 per share.
• Dispositions: The exact 4,000 shares were immediately sold in three blocks: 85 sh at a weighted average $77.38, 3,609 sh at $78.70, and 306 sh at $79.15. Aggregate proceeds approximate $311 k, implying a spread of roughly $50 per share over the exercise price.
• Post-transaction holdings: Noci鈥檚 direct ownership declined from 52,034 to 48,034 shares (-7.7%). She retains 138,329 stock options expiring 01/06/2033.

No other equity classes or derivative instruments were reported. All transactions were effected under a 10b5-1 plan, suggesting routine portfolio management rather than discretionary selling.

Nuvalent, Inc. (NUVL) 鈥� Form 4 insider transaction summary

Chief Scientific Officer Henry E. Pelish reported a series of option exercises and related open-market sales executed on 06/25/2025 and 06/27/2025 under a Rule 10b5-1 trading plan adopted on 11/01/2024.

• Options exercised (Code 鈥淢鈥�): 10,800 Class A shares in four tranches 鈥� 3,677 and 347 shares at a $27.85 strike (options granted 01/06/2023) and 4,953 and 1,823 shares at a $29.33 strike (options granted 03/01/2023).
• Shares sold (Code 鈥淪鈥�): 10,800 Class A shares at weighted-average prices of $79.87 (range $79.80-$79.92) on 06/25/2025 and $79.92 (range $79.80-$80.00) on 06/27/2025.
• Ownership impact: Pelish鈥檚 direct Class A common-stock holding remains unchanged at 63,101 shares after the paired exercise-and-sell transactions, indicating a cashless exercise structure.
• Remaining derivative holdings: 28,328 options at a $27.85 strike (expiring 01/06/2033) and 25,299 options at a $29.33 strike (expiring 03/01/2033) are still outstanding.

No new shares were added to, or removed from, insider ownership; the activity primarily generated liquidity while maintaining the existing equity stake. Investors typically view such neutral, plan-based sales as having limited informational content, though they can add modest selling pressure near the $80 trading level.