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Saba Capital Income & Opportunities Fund (NYSE: BRW) has filed a shelf Registration Statement on Form N-2 seeking authority to issue up to 15,000,000 additional common shares and/or subscription rights and warrants. The Fund is a non-diversified, closed-end management investment company managed by Saba Capital Management, L.P.

Key portfolio facts (as of 30-Apr-2025):

• Net assets: $344.1 million; total assets (incl. leverage): $1.19 billion
• Shares outstanding: 42.53 million
• NAV: $8.09; market price: $7.68 (-5.1% discount)
• Leverage: $45 million drawn on a $125 million TD Bank credit facility (matures Jan-2026)
• Asset coverage on borrowings: 7,651%

Investment profile & strategy

• Primary objective: high current income; secondary objective: capital appreciation.
• Flexible mandate to invest in debt and equity of public & private issuers, including other closed-end funds, SPACs, high-yield bonds, CLOs, reinsurance notes and event-linked securities.
• Active use of leverage via direct borrowings, derivatives (options, swaps) and short sales.

Expense structure

• Management fee: 1.05% of Managed Assets.
• Total expense ratio after waivers: 6.55%; interest expense alone 3.79%.
• Expense Limitation Agreement cap (ex-leverage) in place until at least 1-Jul-2025.

Distribution policy

• Managed Distribution Plan pays a fixed $0.085 per share monthly; distributions may include return of capital.

Offering terms

• Securities may be sold from time to time directly, through agents or underwriters. Public offerings (other than certain rights offerings) cannot be priced below then-current NAV.
• Illustrative sales load: 3.0% of offering price; Fund bears offering expenses.

Risk highlights

• Material dilution risk: additional shares increase supply and may widen market discount if priced near NAV.
• High leverage amplifies NAV and distribution volatility, especially in rising-rate environments.
• Complex portfolio (high-yield, SPACs, CLO equity, catastrophe bonds) and 6.55% expense ratio elevate hurdle to generate positive total return.
• Distributions can draw heavily on return of capital, potentially eroding NAV over time.

The shelf registration provides the Adviser flexibility to raise capital quickly, potentially supporting portfolio scale and liquidity, but introduces execution and dilution concerns for existing shareholders.

Hudson Global, Inc. (HSON) has filed a Form S-4 to register securities connected with its planned all-stock merger with Star Equity Holdings, Inc. (STRR). Under the Agreement and Plan of Merger dated 21 May 2025, Star will merge into HSON Merger Sub, becoming a wholly-owned subsidiary of Hudson. Each share of Star common stock will be exchanged for 0.23 shares of Hudson common stock, while each share of Star鈥檚 10.0% Series A preferred stock will convert 1-for-1 into newly created Hudson Series A preferred stock. No cash will be paid for fractional shares.

Post-transaction ownership is expected to be approximately 79 % Hudson shareholders / 21 % former Star shareholders on a fully-diluted basis. The transaction requires: (i) approval of Hudson shareholders for the issuance of >5 % new shares (Nasdaq Rule 5635(a)), plus routine annual-meeting matters; and (ii) approval of Star shareholders to adopt the merger agreement. Meetings are scheduled in Old Greenwich, CT, with a record date of 14 July 2025.

Hudson will also seek to amend its 2009 Incentive Stock and Awards Plan to add 400,000 common shares and permit issuance of up to 175,000 preferred shares. Three Star-designated directors will join an expanded seven-member Hudson board at closing; existing Hudson officers will remain in place.

The agreement contains reciprocal $250,000 termination fees plus up to $250,000 expense reimbursement should either party abandon the deal and subsequently enter a competing transaction within nine months. Neither company鈥檚 shareholders are entitled to appraisal rights.

Key risks highlighted for investors include market fluctuation in Hudson鈥檚 share price (which directly affects the value received by Star holders), potential dilution for Hudson investors, and conflicts of interest鈥擧udson CEO Jeffrey E. Eberwein also serves on Star鈥檚 board. Both boards unanimously recommend voting 鈥淔OR鈥� their respective proposals.

Everi Holdings Inc. (EVRI) filed Post-Effective Amendment No. 1 to twelve prior Form S-8 registration statements covering an aggregate of approximately 48.6 million shares of common stock reserved for various equity compensation plans dating back to 2006. The amendment formally deregisters all unsold shares under those statements.

The action follows the 1 July 2025 closing of a multi-party transaction in which funds managed by affiliates of Apollo Global Management (through Voyager Parent, LLC) simultaneously acquired Everi and International Game Technology PLC鈥檚 Gaming & Digital business:

• IGT transferred its Gaming & Digital assets to Ignite Rotate LLC ("Spinco") and related liabilities (the 鈥淪eparation鈥�).
• Buyer purchased all Spinco units and IGT Canada Solutions ULC shares.
• Voyager Merger Sub, Inc. merged with and into Everi, making Everi a wholly owned subsidiary of Buyer (the 鈥淢erger鈥�).

Because Everi鈥檚 common stock will be delisted and deregistered under Section 12(b) of the Exchange Act, the company is terminating all outstanding securities offerings. Upon effectiveness of this filing, no shares remain registered for sale under the referenced S-8 statements.

Vir Biotechnology, Inc. (VIR) 鈥� Form 144 filing overview

The filing discloses a proposed secondary sale of 66,000 common shares of Vir Biotechnology under Rule 144. The shares were originally acquired on 17 Jan 2017 as pre-IPO stock and are held in the name of an undisclosed insider (the form does not specify the individual or relationship to the issuer). Morgan Stanley Smith Barney LLC, Executive Financial Services, is listed as the broker for the transaction.

• Shares to be sold: 66,000
• Aggregate market value: US $332,640
• Planned sale date: 1 Jul 2025
• Total VIR shares outstanding: 138,238,003
• Percent of shares outstanding: ~0.05 % (66,000 ÷ 138,238,003)
• Exchange: NASDAQ

No sales by the filer have occurred within the prior three months, and the securities were not purchased with non-cash consideration according to the disclosure. The seller certifies awareness of no undisclosed material adverse information and acknowledges potential criminal liability for misstatements.

Given the modest size relative to VIR鈥檚 float and the absence of multiple tranches or recent insider selling, this notice is unlikely to have a material impact on the company鈥檚 capital structure or market dynamics. However, investors may monitor for additional filings that could signal a broader disposition program.

Morgan Stanley Finance LLC, guaranteed by Morgan Stanley, intends to issue Fixed-Income Buffered Auto-Callable Securities linked to the S&P 500 Futures 40% Intraday 4% Decrement VT Index (ticker SPXF40D4). The securities offer a fixed coupon of 7.00%-8.00% per annum paid monthly and mature on 1 August 2030, unless automatically redeemed earlier.

Auto-call feature: beginning 12 months after issuance and on each monthly determination date thereafter, the notes will be redeemed at par (plus the coupon) if the index closes at or above its initial level (100%). Once called, no further payments are due.

Downside protection: at maturity, investors receive full principal repayment so long as the index has not fallen by more than the 15% buffer. Below this threshold, repayment is reduced 1-for-1, exposing holders to up to an 85% maximum loss.

Pricing details: 鈥� Pricing date: 28 July 2025 鈥� Settlement/Maturity: 1 Aug 2030 鈥� Estimated value: $920.10 (卤 $55) per $1,000 face, reflecting issuance costs and Morgan Stanley鈥檚 internal models 鈥� CUSIP: 61778NBH3

Key risks called out by the issuer

• No participation in any index appreciation beyond par.
• Potential early redemption limits total coupon receipts.
• Full exposure to Morgan Stanley credit risk; MSFL has no independent assets.
• Index-specific risks: 4% annual decrement drag, leverage, short operating history (inception 30 Aug 2024).

Tax treatment and other detailed structural provisions are summarized in the preliminary pricing supplement (SEC link provided) and should be reviewed before investing.

Wayfair Inc. (symbol W) has filed a Form 144 indicating the intention to sell 180,943 Class A shares through Fidelity Brokerage Services on or about 01 July 2025. The shares carry an aggregate market value of $9.51 million and represent roughly 0.17 % of the company鈥檚 103.66 million shares outstanding.

The shares were originally acquired on 01 January 2002 as 鈥淔ounder Shares鈥� received as compensation. Within the past three months, related parties named in the filing鈥擲teven K. Conine and the Conine Family Foundation鈥攈ave already sold 153,963 shares for total gross proceeds of approximately $6.71 million.

• Proposed sale class: Class A
• Broker: Fidelity Brokerage Services LLC, Smithfield RI
• Exchange: NYSE
• Planned sale date: 07/01/2025
• Recent insider sales (last 3 months): ~154 k shares

While the dollar amount is sizeable, the percentage of outstanding shares is small, suggesting limited direct dilution. Nonetheless, the continued disposition of shares by founder-linked entities may influence investor sentiment.

Form 4 filing summary for Taylor Morrison Home Corp. (TMHC): Director Christopher J. Yip reported the acquisition of 387 deferred stock units (DSUs) on 06/30/2025. Each DSU is economically equivalent to one share of TMHC common stock and was received under the company鈥檚 Non-Employee Director Deferred Compensation Plan as an election to defer cash retainer and committee fees. The transaction is coded 鈥淎,鈥� signifying an award and not an open-market purchase.

After the transaction, Yip鈥檚 aggregate holding stands at 14,664 DSUs. The units will settle in common shares upon the earlier of (i) 01-Sep-2027, (ii) the director鈥檚 separation from the board, or (iii) a change of control. No common-stock sales or purchases were reported, and no cash price was involved.

The award is relatively small in size and routine in nature, providing limited insights into the company鈥檚 near-term fundamentals or insider sentiment beyond ongoing board-level equity alignment.

Form 4 filing overview: Director Lynn Casey reported a Code G gift of 1,000 shares of Xcel Energy Inc. (XEL) common stock on 06/18/2025. The transfer carried no monetary consideration, as reflected by the $0 price field. After the transaction, Casey retains 37,555.985 directly held shares. A footnote clarifies that 6.872 stock-equivalent units were previously overstated due to an administrative error and are now excluded from the reported total.

The filing was signed by attorney-in-fact Kristin Westlund on 06/23/2025. No derivative security activity, option exercises, or sales for cash were disclosed. The transaction does not alter Casey鈥檚 board role, and no other officers or insiders are involved. Given Xcel Energy鈥檚 multibillion-dollar market capitalization, the gifted amount represents an immaterial fraction of outstanding shares and is unlikely to affect the company鈥檚 share-price dynamics.