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Oportun Financial Corporation (Nasdaq: OPRT) has filed a DEFA14A containing additional proxy solicitation materials ahead of its July 18, 2025 Annual Meeting.

The Board urges stockholders to use the GREEN proxy card to re-elect CEO Raul Vazquez and director Carlos Minetti and to withhold support from Findell Capital Management鈥檚 nominee. The directors warn that Findell is attempting to remove Mr. Vazquez from the Board despite his role in executing a strategic plan that has lifted the share price by more than 80 % year-to-date.

The Board argues that removing the CEO would:

• Disrupt communication between management and directors
• Erode confidence among employees, regulators and partners
• Destabilize the company while a Lead Independent Director transition is underway

Shareholders seeking assistance are directed to proxy solicitor Innisfree M&A. No new financial results were provided; the filing focuses on governance and the proxy contest.

SSR Mining Inc. (SSRM) submitted an amended Form 4 on 07/02/2025 reporting that director Thomas R. Bates Jr. acquired 2,217 Deferred Share Units (DSUs) on 07/01/2025. Each DSU entitles the holder to the cash value of one common share when the director retires from the board. The transaction lifts Bates鈥檚 directly held DSU balance to 121,798 units; no dispositions or sales were disclosed. Because DSUs settle in cash rather than shares, the filing highlights additional, albeit modest, equity-aligned compensation for the director. No non-derivative share transactions, option exercises, or 10b5-1 plan indications appear in the filing.

DeFi Development Corp. (Nasdaq: DFDV) filed an 8-K disclosing the completion of a private placement of $112.5 million aggregate principal amount of 5.50% Convertible Senior Notes due 2030. The notes were sold at par to qualified institutional buyers under Rule 144A; the initial purchasers hold an additional $25 million option. Net proceeds were approximately $108.1 million after underwriting discounts and expenses.

Use of proceeds: roughly $75.6 million funded a privately negotiated prepaid forward stock purchase for about 3.6 million DFDV shares, effectively executing an accelerated buy-back. Remaining funds are earmarked for general corporate purposes, including the planned acquisition of Solana.

Key note terms:

• Interest: 5.50% payable semi-annually on 1 Jan and 1 Jul, beginning 1 Jan 2026.
• Maturity: 1 Jul 2030.
• Conversion: prior to 1 Jan 2030 only upon specified events; after that date, at any time until two trading days before maturity.
• Initial conversion rate: 43.2694 shares per $1,000 (鈮� $23.11/share); maximum conversion rate with adjustments is 47.5963 shares, implying potential issuance of up to 5,354,584 shares.
• Redemption: not callable before 5 Jul 2026; thereafter redeemable at par plus accrued interest if the stock trades 鈮�150% of the conversion price for 20 out of 30 consecutive trading days.
• Fundamental change put: holders may require 100% repurchase plus accrued interest.

The accompanying Indenture with U.S. Bank Trust Company establishes standard covenants and default provisions. The prepaid forward transaction is separate from the notes, transferring any future dividends on the repurchased shares back to the company.

Investor takeaways: The financing injects over $100 million of capital at a fixed 5.5% cost, offsets near-term dilution through the share buy-back, but introduces leverage and potential future equity issuance if the notes convert.

DeFi Development Corp. (Nasdaq: DFDV) filed an 8-K disclosing the completion of a private placement of $112.5 million aggregate principal amount of 5.50% Convertible Senior Notes due 2030. The notes were sold at par to qualified institutional buyers under Rule 144A; the initial purchasers hold an additional $25 million option. Net proceeds were approximately $108.1 million after underwriting discounts and expenses.

Use of proceeds: roughly $75.6 million funded a privately negotiated prepaid forward stock purchase for about 3.6 million DFDV shares, effectively executing an accelerated buy-back. Remaining funds are earmarked for general corporate purposes, including the planned acquisition of Solana.

Key note terms:

• Interest: 5.50% payable semi-annually on 1 Jan and 1 Jul, beginning 1 Jan 2026.
• Maturity: 1 Jul 2030.
• Conversion: prior to 1 Jan 2030 only upon specified events; after that date, at any time until two trading days before maturity.
• Initial conversion rate: 43.2694 shares per $1,000 (鈮� $23.11/share); maximum conversion rate with adjustments is 47.5963 shares, implying potential issuance of up to 5,354,584 shares.
• Redemption: not callable before 5 Jul 2026; thereafter redeemable at par plus accrued interest if the stock trades 鈮�150% of the conversion price for 20 out of 30 consecutive trading days.
• Fundamental change put: holders may require 100% repurchase plus accrued interest.

The accompanying Indenture with U.S. Bank Trust Company establishes standard covenants and default provisions. The prepaid forward transaction is separate from the notes, transferring any future dividends on the repurchased shares back to the company.

Investor takeaways: The financing injects over $100 million of capital at a fixed 5.5% cost, offsets near-term dilution through the share buy-back, but introduces leverage and potential future equity issuance if the notes convert.

L1 Capital Global Opportunities Master Fund, Ltd. has filed a Schedule 13G reporting a 1,000,000-share position in Sonim Technologies, Inc. (SONM) as of 2 July 2025. The holding represents 7.28 % of Sonim鈥檚 outstanding common stock, based on 13,733,657 shares referenced in Sonim鈥檚 1 July 2025 prospectus. The fund has sole voting and dispositive power over the entire stake and declares passive intent under Rule 13d-1(c), indicating no current plan to influence control of the issuer. Directors David Feldman and Joel Arber are named as potential indirect beneficial owners but disclaim ownership for other purposes.

SSR Mining Inc. (SSRM) 鈥� Form 4/A insider filing: Director Laura M. Mullen reported the grant of 2,217 Deferred Share Units (DSUs) on 07/01/2025. The transaction is coded 鈥淎鈥� (acquisition) and carries a priced value of $0, indicating it is part of routine director compensation rather than an open-market purchase. Following the grant, Mullen now beneficially owns 6,241 DSUs, each representing the cash value of one common share payable when she retires from the Board. No non-derivative share transactions were disclosed, and ownership remains 鈥淒irect.鈥� The filing is primarily administrative and does not alter the company鈥檚 capital structure, but continual insider accumulation can be viewed as a modest sign of alignment with shareholder interests.

SSR Mining Inc. (SSRM) 鈥� Form 4/A insider transaction

Director Kay G. Priestly reported the acquisition of 2,217 Deferred Share Units (DSUs) on 01 July 2025. The grant was recorded at a price of $0, reflecting a routine equity compensation award rather than an open-market purchase. Following the transaction, Priestly now holds 61,161 DSUs, each representing the cash value of one common share payable upon retirement from the Board. No non-derivative common shares were reported in this filing, and there were no dispositions.

The filing is an amendment dated 02 July 2025, indicating a correction or update to a previously submitted Form 4. Because DSUs settle in the future and entail no immediate cash outlay, the event has minimal near-term impact on SSR Mining鈥檚 share float or insider ownership dynamics. The transaction represents standard director compensation and does not signal a directional view on the company鈥檚 valuation.

IAC Inc. (IAC) 鈥� Form 4 insider transaction

Director Chelsea Clinton reported the automatic acquisition of 167 share units of IAC common stock on 30 Jun 2025 at a reference price of $37.34 per unit. The units were credited under the company鈥檚 Non-Employee Director Deferred Compensation Plan, indicating they are deferred equity rather than immediately tradeable shares.

Following the credit, Clinton鈥檚 total beneficial ownership stands at 80,633 shares/units, broken down as:

• 51,838 common shares held directly (including shares held in a grantor trust).
• 28,795 deferred share units accumulated through the director plan (including the newly credited 167 units).

The filing shows no dispositions, derivative transactions, or changes to indirect ownership structures. Because the purchase represents less than 1% of outstanding shares and is part of routine director compensation, the market impact is expected to be minimal.

Stellus Capital Investment Corporation (NYSE: SCM) has filed a Form N-2 shelf registration that would allow the Business Development Company to issue up to $300 million of securities鈥攊ncluding common and preferred stock, debt, warrants and subscription rights鈥攐n a delayed or continuous basis. The filing keeps the Company qualified under General Instruction A.2 and Rule 415, giving management flexibility to tap capital markets quickly as opportunities arise.

Capital structure & leverage. As of 31 March 2025, SCM had:

• Asset coverage ratio of 234 % (well above the 150 % minimum).
• Senior secured revolving Credit Facility commitment of $315 m (accordion to $350 m) with $221.8 m outstanding; maturity 2028; SOFR +2.50-2.75 % plus CSA.
• $100 m of 4.875 % unsecured notes due 2026.
• $75 m of newly issued 7.250 % unsecured notes due 2030.
• $308.8 m of SBA-guaranteed debentures across two SBIC subsidiaries.

The additional shelf capacity could push leverage higher, but management emphasises compliance with BDC asset-coverage limits and multiple covenants (liquidity 鈮� $10 m, interest coverage 鈮� 1.75脳, etc.).

Potential dilution. The board already has shareholder authorisation (through June 2025) to issue common shares below NAV; the prospectus warns that such issuances would dilute existing holders and may pressure the market price. NAV was $13.25 at 31 Mar 2025 versus a market price of $13.81 on 12 Jun 2025 (4.2 % premium).

Investment strategy. SCM originates first-lien, unitranche, second-lien and unsecured loans to lower-middle-market private companies with $5-50 m EBITDA, often alongside equity co-investments. These loans are typically unrated and would likely be considered 鈥渏unk鈥� if rated. The adviser, Stellus Capital Management, may co-invest alongside affiliated funds under a 2022 SEC exemptive order.

Distribution profile. SCM pays monthly dividends of $0.1333 per share ($1.60 annualised), supports a dividend reinvestment plan (opt-out), and intends to maintain RIC status by distributing 鈮� 90 % of taxable income.

Use of proceeds. Net proceeds from any future offerings will be used for portfolio investments, debt repayment, and general corporate purposes; management targets deployment within three to six months while parking cash in short-term instruments pending investment.