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Schedule 13D/A highlights Tang Capital Management, Kevin Tang and affiliated investment vehicles disclosed updated ownership and transaction details regarding Cargo Therapeutics, Inc. ("CRGX").

• Beneficial ownership: The reporting group controls 3,059,630 common shares, representing 6.6 % of the 46,113,353 shares outstanding. Voting and dispositive power over the shares is shared among Tang Capital Management, Tang Capital Partners (TCP), Tang Capital Partners International (TCPI) and Kevin Tang.
• Source of funds: Approximately $22 million of working capital from TCP and TCPI, held in margin accounts, was used to acquire the stake.
• New strategic development 鈥� signed Merger Agreement (7 July 2025):
  • Buyer: Concentra Biosciences, LLC; vehicle: Concentra Merger Sub VII, Inc.
  • Tender-offer price: $4.379 in cash per CRGX share plus one contingent value right (CVR).
  • Subsequent merger: Merger Sub will merge into Cargo Therapeutics, with Cargo surviving as a Concentra subsidiary.
  • Key closing conditions: (i) >50 % of outstanding shares tendered; (ii) Closing Net Cash 鈮� $217.5 million; (iii) customary regulatory and procedural conditions.
  • Limited guaranty: TCP provided a guarantee capped at $213.1 million for certain obligations under the Merger Agreement.
  • CVR structure: Holders will be entitled to (i) 100 % of Closing Net Cash above $217.5 million, and (ii) 80 % of net proceeds from any sale, transfer or license of CRG-022, CRG-023 or the company鈥檚 allogeneic platform occurring within two years post-merger, subject to a $250 k expense cap.
• No recent trading activity: The reporting persons executed no CRGX share transactions during the past 60 days.

The amendment primarily informs investors of the cash-and-CVR takeover proposal, outlines financial protections (guaranty, cash threshold) and updates the group鈥檚 unchanged 6.6 % ownership position.

BitMine Immersion Technologies, Inc. (NYSE American: BMNR) filed an 8-K disclosing three material events dated 8 July 2025:

• Consulting Agreement. The Company engaged Ethereum Tower LLC for a 10-year term to implement an ETH-focused treasury strategy. Treasury assets will consist of the net proceeds from two contemporaneous private placements plus any other digital assets designated by the Company. Operational partners receive 鈥渢rade-only鈥� access; custody remains with a bankruptcy-remote subsidiary under third-party control. The Company will pay management fees and related expenses, and early termination triggers liquidated damages.
• Strategic Advisor Agreement. Ethereum Tower Instant LLC will advise on growth initiatives for six months (extendable). Compensation is warrants equal to 5 % of the Company鈥檚 fully diluted share count at an exercise price of $5.40, exercisable for five years. The issuance relies on Rule 506(b) of Regulation D.
• Private Placements (Item 3.02). 鈥� Cash Offering: 36,309,592 common shares at $4.50 and 11,006,444 pre-funded warrants at $4.4999, raising 鈮� $212.9 million in USD. 鈥� Cryptocurrency Offering: 8,804,122 common shares at $4.50, raising 鈮� $39.6 million in ETH/BTC. ThinkEquity LLC acted as placement agent and received 1,231,945 warrants at $5.40. Combined, the Company issued or committed to issue roughly 57.3 million new shares (including pre-funded and placement agent warrants), materially increasing the share base.

The proceeds from both offerings become part of the ETH Treasury managed under the Consulting Agreement. All securities were issued in private transactions exempt from registration. A press release announcing the closings was issued 9 July 2025.

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc. (ticker: C), is marketing 5-Year Autocallable Contingent Coupon Securities linked to the worst performer of two underlyings: the iShares 20+ Year Treasury Bond ETF (TLT) and the S&P 500 Dynamic Participation Index (SPXDPU1).

Key commercial terms

• Contingent coupon: 鈮�7.40% p.a. (set on pricing 29-Jul-2025), paid monthly only if the worst performer鈥檚 closing value 鈮�80% of its initial value.
• Autocall feature: Monthly after the first year; called at par plus coupon if the worst performer 鈮�100% of its initial value on any valuation date.
• Downside buffer: 15%. If not autocalled and the worst performer falls >15%, investors lose principal point-for-point beyond the buffer.
• Maturity payment (31-Jul-2030): $1,000 if buffer holds; otherwise $1,000 + [$1,000 脳 (return + 15%)]. Minimum redemption $150 based on hypotheticals.
• Credit exposure: Payments depend on the senior unsecured obligations of Citigroup Global Markets Holdings Inc. and the guarantee of Citigroup Inc.

Illustrative outcomes

• Interim valuation: If worst return 鈮�-0.01%, note is redeemed at $1,006.167 (principal + coupon). Once return turns negative, coupon drops to $6.167 and principal is not repaid until maturity.
• Final valuation: Principal fully protected down to -15%. Deeper losses scale to a hypothetical $650 at -50% and $150 at -100%.

Primary risks: investors may receive no coupons, may lose up to 85% of principal, have no upside beyond coupons, face correlation risk between two diverse assets, and must absorb Citigroup credit risk. The notes are not exchange-listed and are expected to price below issue value in secondary markets.

Bitmine Immersion Technologies, Inc. (NYSE American: BMNR) filed an automatic shelf registration statement (Form S-3ASR) that enables it to issue, from time to time, an unlimited mix of securities鈥攃ommon stock, preferred stock, debt, depositary shares, warrants, rights, purchase contracts and units. The filing also includes a dedicated at-the-market (ATM) prospectus for up to $2.0 billion of common stock to be sold through Cantor Fitzgerald & Co. and ThinkEquity LLC under a Controlled Equity Offering Sales Agreement dated 9 July 2025.

The company positions itself as a digital-asset infrastructure and mining enterprise with two strategic pillars:

• Bitcoin operations: mining for proprietary BTC holdings plus 鈥淢ining-as-a-Service鈥� (MaaS) offerings that use immersion-cooled data-centres. Short-term capacity is outsourced to third-party hosts, while long-term plans call for company-owned facilities.
• Ethereum treasury strategy: recent shift toward accumulating ETH via staking, re-staking, liquid staking and other DeFi activities, aiming to make ETH the primary reserve asset.

Use of proceeds is stated broadly for general corporate purposes鈥攊ncluding debt repayment, share repurchases, working capital, cap-ex and potential acquisitions鈥攂ut management retains full discretion.

Capital structure: authorised to issue 500 million common and 20 million preferred shares. Recent conversions by CEO Jonathan Bates and affiliate IDI eliminated Series A and Series B preferred shares, creating c. 1.76 million new common shares at $4.00 post-split.

Risk disclosures are extensive and focus on: (i) extreme crypto-asset price volatility, (ii) regulatory uncertainty鈥攑articularly whether ETH might be deemed a security, (iii) technical / custodial vulnerabilities, (iv) operational challenges of Proof-of-Stake validation, and (v) potential Investment Company Act exposure if digital-asset holdings exceed statutory thresholds.

Bitmine qualifies as a well-known seasoned issuer; therefore, the shelf becomes effective upon filing, giving the board immediate flexibility to raise large amounts of capital. While this enhances liquidity and supports expansion, it also introduces potential dilution for existing shareholders should substantial equity be issued.

Am茅rica M贸vil, S.A.B. de C.V. (AMX) is conducting a peso-denominated reopening of three outstanding series of senior notes, adding Ps.15.5 billion to its long-dated local-currency curve.

• Size & structure: Ps.6.0 bn 10.125% notes due 2029, Ps.6.0 bn 9.500% notes due 2031 and Ps.3.5 bn 10.300% notes due 2034. All tranches are fungible with, and will form single series alongside, prior issuances, taking the aggregate size of each series to Ps.23.5 bn (2029 & 2034) and Ps.23.0 bn (2031).
• Pricing: Issuance prices of 102.778%, 100.372% and 102.856% translate into yields of c.9.63%, 9.44% and 9.91% respectively. Underwriting spreads are minimal (0.125%鈥�0.231%), signalling healthy demand.
• Proceeds & use: Gross proceeds before expenses amount to Ps.15.76 bn (鈮圲S$775.8 m). Management will apply funds to general corporate purposes and short-term debt repayment; an amount equal to the net proceeds of the 2031 and 2034 tranches will be earmarked for Eligible Projects under the company鈥檚 Sustainable Finance Framework (renewable energy, energy efficiency, digital inclusion, etc.).
• Terms: Unsecured, unsubordinated obligations ranking pari-passu with other senior debt; effectively subordinated to secured obligations and subsidiary liabilities. Optional redemption is at make-whole prior to par-call dates (Dec-22-28, Oct-27-30 & Oct-30-33) and at par thereafter. A tax gross-up applies unless withholding stays 鈮�4.9%.
• Capitalisation impact: As at 31 Mar 25, total consolidated debt stood at Ps.588 bn (US$29 bn) and would rise to Ps.614 bn post-issuance before netting cash deployment. Parent-level unsecured debt is Ps.404 bn; subsidiary debt Ps.184 bn. Pro-forma long-term debt/total capital inches up from 51.1% to 52.5% prior to application of proceeds.
• Risk highlights: high coupons enlarge interest burden; notes lack subsidiary guarantees (notably from Telcel); ESG-label risk if projects fail to align with evolving standards; upcoming IFRS-S sustainability disclosure rules could raise compliance costs.

Overall, the deal lengthens AMX鈥檚 local-currency maturity ladder, secures funds for liability management and supports its sustainability agenda, but marginally elevates leverage and interest expense.

Mersana Therapeutics, Inc. (NASDAQ: MRSN) filed an 8-K to disclose the termination of its October 29, 2021 loan and security agreement with Oxford Finance LLC and other lenders. On July 1, 2025, the company paid approximately $17.9 million, which fully satisfied and discharged all outstanding indebtedness and related obligations under the agreement. As a result, the loan agreement and its related collateral security documents are no longer in effect.

The disclosure was made under Item 1.02 (鈥淭ermination of a Material Definitive Agreement鈥�). No other material events, financial results, or operational updates were included in this filing.

Matson, Inc. (MATX) 鈥� Insider Form 4 filing

Executive Vice President and President of Matson Logistics, Jerome James Holland, reported the acquisition of 538 shares of Matson common stock on 07/01/2025. The shares were issued as restricted stock units (RSUs) under the company鈥檚 2025 Incentive Compensation Plan at $0.00 cost. The RSUs vest in three equal annual tranches beginning one year from the grant date and include dividend-equivalent rights. Following the grant, Holland鈥檚 direct beneficial ownership increases to 3,738 shares. No disposals, derivative transactions, or Rule 10b5-1 plan trades were disclosed.

The filing was submitted individually by the executive, indicating a routine equity incentive award intended to align management and shareholder interests. No other material changes were reported.