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Twin Hospitality Group (Nasdaq: TWNP) posted a soft second quarter after its Jan-2025 spin-off from FAT Brands. Q2鈥�25 revenue fell 4.1 % YoY to $87.8 m as same-store softness and five Smokey Bones closures outweighed new Twin Peaks openings. Franchise revenue edged up 4 %, but company-owned sales declined 4.9 %.

Cost deleverage and a $12.6 m stock-based compensation charge drove operating loss to $11.6 m versus $1.4 m profit last year; net loss widened to $20.8 m (-$0.38/sh). Year-to-date revenue is down 4.7 % to $175 m and net loss stands at $32.9 m.

Liquidity tightened: cash fell to $6.1 m (restricted $13.2 m) from $9.4 m YE-24 as operating cash burn accelerated to $14.6 m. Long-term debt remains heavy at $411 m (avg. coupon 9-11 %), though an exchange of $31.2 m affiliate payables for 7.1 m new Class A shares reduced related-party debt and narrowed stockholders鈥� deficit to 鈥�$78.6 m.

The 168-unit system (35 company Twin Peaks, 53 company Smokey Bones, 80 franchise) lists ~100 signed franchised units in its pipeline; 45 % of franchise revenue comes from three operators, highlighting concentration risk. Covenants on the 2054-maturity securitization notes (anticipated repayment 2027) were met at quarter-end.

Management continues to target 75-80 % franchised mix for future openings, but higher interest expense ($22.3 m YTD) and litigation at former parent FAT Brands add overhang. No changes to FY guidance were provided.

Amendment No. 25 to Schedule 13D discloses that India-based Tractors & Farm Equipment Ltd (TAFE), TAFE Motors & Tractors Ltd and chair Mallika Srinivasan collectively hold roughly 16.3 % of AGCO鈥檚 74.6 million outstanding shares (鈮�12.15 million shares). The filing follows a comprehensive settlement signed on 30 Jun 2025 that resets the long-standing strategic relationship between the two companies.

Key agreements

• Cooperation Agreement: imposes a perpetual stand-still: the Reporting Persons will vote in line with AGCO鈥檚 Board and will not raise their ownership above the 鈥淥wnership Cap鈥� (鈮�16.3 %) except on defined change-of-control triggers. They must also participate proportionately in future AGCO buybacks.
• Buyback Agreement: AGCO Holding B.V. will sell its 20.7 % stake in TAFE (2.389 million shares) back to TAFE for US$260 million. Completion is pending Indian procedural approvals.
• Intellectual Property Agreement: Exclusive rights to the 鈥淢assey Ferguson鈥� brand for tractors in India, Nepal and Bhutan will transfer to TAFE when the Buyback closes.
• Arbitration & Litigation Settlements: All cross-border disputes and brand-related suits will be withdrawn, eliminating legal overhang.

Strategic implications

• AGCO receives US$260 million cash and exits its minority position in TAFE.
• Stable 16 % shareholder alignment reduces near-term takeover risk and supports Board initiatives.
• Brand transfer limits AGCO鈥檚 direct exposure to the fast-growing Indian tractor market but clarifies marketing rights.

Amendment No. 25 to Schedule 13D discloses that India-based Tractors & Farm Equipment Ltd (TAFE), TAFE Motors & Tractors Ltd and chair Mallika Srinivasan collectively hold roughly 16.3 % of AGCO鈥檚 74.6 million outstanding shares (鈮�12.15 million shares). The filing follows a comprehensive settlement signed on 30 Jun 2025 that resets the long-standing strategic relationship between the two companies.

Key agreements

• Cooperation Agreement: imposes a perpetual stand-still: the Reporting Persons will vote in line with AGCO鈥檚 Board and will not raise their ownership above the 鈥淥wnership Cap鈥� (鈮�16.3 %) except on defined change-of-control triggers. They must also participate proportionately in future AGCO buybacks.
• Buyback Agreement: AGCO Holding B.V. will sell its 20.7 % stake in TAFE (2.389 million shares) back to TAFE for US$260 million. Completion is pending Indian procedural approvals.
• Intellectual Property Agreement: Exclusive rights to the 鈥淢assey Ferguson鈥� brand for tractors in India, Nepal and Bhutan will transfer to TAFE when the Buyback closes.
• Arbitration & Litigation Settlements: All cross-border disputes and brand-related suits will be withdrawn, eliminating legal overhang.

Strategic implications

• AGCO receives US$260 million cash and exits its minority position in TAFE.
• Stable 16 % shareholder alignment reduces near-term takeover risk and supports Board initiatives.
• Brand transfer limits AGCO鈥檚 direct exposure to the fast-growing Indian tractor market but clarifies marketing rights.

Mirion Technologies, Inc. (MIR) has filed a Form 144 with the SEC, indicating a planned insider sale under Rule 144.

The notice covers a proposed disposition of 75,000 Class A common shares through UBS Financial Services on or about 26 June 2025 (issuer table lists 06/25/2025) on the NYSE. The filing assigns an aggregate market value of $1.575 million to the shares, versus a public float of 225,554,626 shares, representing roughly 0.03% of shares outstanding.

The form also discloses prior activity within the last three months: Brian Schopfer sold 75,000 shares on 21 May 2025 for gross proceeds of $1.37 million. No other securities were reported sold during that period.

The seller certifies that no undisclosed material adverse information is known and acknowledges liability for false statements under 18 U.S.C. 1001. Fields for relationship to issuer, contact details, and 10b5-1 plan adoption dates are blank, limiting insight into the seller鈥檚 corporate role or trading-plan protections.

Key Takeaways:

• Total planned and recent insider sales amount to 150,000 shares within ~5 weeks.
• Proposed sale value is 15% higher than the May proceeds, reflecting a higher reference price.
• While the percentage of total shares is minor, repeated insider selling can signal caution to investors.