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Navitas Semiconductor Corporation (NVTS) filed an 8-K to inform investors that its sole supplier of gallium nitride (GaN) wafers, Taiwan Semiconductor Manufacturing Company (TSMC), will cease GaN production in July 2027. In response, Navitas is accelerating supply-chain diversification.

The company disclosed an expanded collaboration with Powerchip Semiconductor Manufacturing Corporation (PSMC). Key milestones are:

• Q4 2025: qualification of initial devices on PSMC wafers
• H1 2026: start of mass production of 100 V GaN products
• Next 12-24 months: full transition of 650 V GaN devices from TSMC to PSMC

Navitas is also identifying and qualifying additional suppliers to further diversify its wafer sources and improve operational flexibility. The company believes the multi-vendor strategy will reduce single-source risk ahead of TSMC鈥檚 exit. No financial metrics, capacity commitments, or cost implications were provided in the filing. The information was furnished under Item 7.01 (Regulation FD) and is therefore not deemed 鈥渇iled鈥� for liability purposes.

Investors should weigh the strategic positives of diversification against the execution risks of qualifying new foundry partners within the stated timeframe.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., is offering Callable Contingent Coupon Equity-Linked Securities tied to the common stock of NVIDIA Corporation (NVDA). The $1,000-denominated notes price on 16-Jul-2025, settle on 21-Jul-2025 and, unless earlier redeemed, mature on 22-Jan-2027 (approx. 18-month tenor).

Income feature: On each of 19 scheduled quarterly valuation dates, investors receive a contingent coupon of at least 1.0167 % of principal (鈮� 12.20 % p.a.) only if NVDA鈥檚 closing price is 鈮� 60 % of the initial level (the coupon barrier). Missed coupons are not recaptured.

Principal repayment: If the notes remain outstanding to maturity, investors receive:

• 100 % of principal if NVDA鈥檚 final price is 鈮� 50 % of the initial level (the final barrier), plus any final coupon if the 60 % test is met.
• Principal is reduced 1-for-1 with NVDA鈥檚 decline if the final price is < 50 % of the initial level; losses can reach 100 %.

Issuer call right: Citigroup may redeem the notes in whole on any of 12 quarterly dates from Jan-2026 through Dec-2026. If called, holders receive $1,000 plus the applicable coupon; all future coupons are forgone. Early redemption is likely to occur when the notes are advantageous to investors, capping upside.

Credit & liquidity: Payments rely on the senior unsecured obligations of Citigroup Global Markets Holdings Inc. and its parent guarantee. The notes will not be listed; secondary liquidity depends on the sole underwriter, CGMI, which is not obligated to provide markets. CGMI estimates the initial fair value at 鈮� $929 (<~92.9 % of issue price), reflecting selling and hedging costs.

Risk highlights:

• Potential total loss of principal if NVDA drops >50 % by final valuation.
• Coupons are conditional; an extended drop below 60 % barrier would eliminate cash flow.
• Issuer-friendly call limits coupon stream when NVDA performs well.
• Investors do not participate in NVDA upside, nor receive dividends.
• Valuation is sensitive to NVDA volatility, interest rates and Citigroup credit spreads.
• Complex tax treatment; withholding possible for non-U.S. holders.

This structured note suits investors comfortable with single-stock downside risk, issuer credit exposure and limited liquidity in exchange for the potential high contingent yield.

ePlus inc. (NASDAQ: PLUS) has completed the previously announced divestiture of the bulk of its Financing Business segment. On June 30, 2025, the company sold 100% of the membership interests of Expo Holdings, LLC鈥攊ts domestic financing subsidiaries鈥攖o Marlin Leasing Corporation for an up-front cash payment of approximately $180 million, subject to customary post-closing adjustments and potential earn-out and other payments. Ancillary agreements, including a transition services agreement, were executed to facilitate operational continuity for both parties.

The transaction was disclosed under Item 2.01 of this Form 8-K and formally announced via press release on July 1, 2025 (Exhibit 99.1). ePlus stated that it will update fiscal 2026 guidance on its next earnings call, signaling that the divestiture will materially affect future financial outlook. Required pro-forma financial statements will be filed within four business days.

Strategic implications:

• Provides immediate liquidity and balance-sheet flexibility through the $180 million cash inflow.
• Allows management to focus on the company鈥檚 core technology solutions segment.
• Introduces uncertainty regarding revenue mix and earnings power until updated guidance and pro-forma statements are released.

The forward-looking statements section cites risks tied to post-closing performance, earn-out realization and broader economic conditions. No earnings figures or segment financial contribution were included in the filing.

ePlus inc. (NASDAQ: PLUS) has signed a definitive agreement to divest the majority of its U.S. Financing Business to Marlin Leasing Corporation for approximately $180 million in cash, subject to customary closing adjustments. The sale will occur through the transfer of recently reorganised subsidiaries into Expo Holdings, LLC ("HoldCo"), 100% of which will be purchased by Marlin.

Transaction economics: the cash payment equals (i) estimated HoldCo book value as of 31-Mar-25, plus a $2.4 million premium, less transaction expenses. A post-closing true-up based on final book value will set the definitive Purchase Price. In addition, ePlus may receive (i) up to $2.96 million of "Holdback Premium" tied to lease-origination targets over the first 30 months and (ii) two separate earn-outs over three years:

• Lease Originations Earn-Out 鈥� capped at $10 million.
• Transaction Gains Earn-Out 鈥� uncapped, based on profitability of leases to U.S. federal entities.

Strategic terms & covenants: ePlus accepts a 3-year non-compete in U.S. financing activities related to the divested segment and a similar non-solicitation of HoldCo senior staff. Both parties provide customary representations, warranties and indemnities, each capped at the final Purchase Price and subject to deductibles, with fraud carve-outs.

Closing mechanics: key conditions include (i) all required governmental consents (HSR waiting period has already expired), (ii) no injunctions, (iii) accuracy of reps & warranties, (iv) retention of certain key executives and (v) absence of material adverse effect. Either party may terminate if the deal has not closed by 20-Dec-25. Management expects closing within 60 days.

Rationale & implications: The divestiture monetises a capital-intensive, lower-margin financing segment, injects immediate liquidity, and allows management to focus on higher-growth technology solutions and services. Future upside is preserved through premiums and earn-outs tied to origination volume and profitability under Marlin鈥檚 ownership. Risks include loss of diversified revenue streams, dependency on buyer performance for contingent consideration, and execution risk before closing.