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Fundamental Global Inc. (NASDAQ: FGF) announced the formation of FG CVR Trust, a Delaware statutory trust, offering a special distribution to common shareholders. Shareholders of record as of August 8, 2025 will receive non-transferable Contingent Value Rights (CVRs), including an initial cash distribution of $10.00 per share expected in September 2025.

The CVR Trust, with assets valued at over $30.00 per common share, will distribute additional cash or in-kind securities as legacy assets are monetized. The company, soon to be renamed FG Nexus Inc., will retain approximately $5.00 per share in NAV and is undergoing a strategic transformation with a $200 million private placement to implement an Ethereum Treasury Strategy.

Tenon Medical (NASDAQ:TNON) has acquired sacroiliac joint-specific assets from SiVantage, including their SImmetry庐 and SImmetry+鈩� technologies. The strategic acquisition transforms Tenon into a multi-product, multi-approach sacro-pelvic organization, expanding its portfolio across multiple approaches to sacro-pelvic anatomy.

The transaction brings critical technologies, intellectual property, and key leadership to Tenon, with SiVantage's co-founders joining as Chief Innovations Officer and Chief Commercial Officer. The deal structure includes an upfront cash component and equity issuance, with most consideration tied to future performance milestones. Integration is expected to complete in Q4 2025.

The acquisition immediately strengthens Tenon's product pipeline and is expected to contribute to revenue, supported by extensive clinical data demonstrating safety and performance in sacroiliac joint fusion procedures.

Erayak Power Solution Group (NASDAQ: RAYA), a power supply industry manufacturer, has successfully closed its previously announced registered direct offering, raising approximately $7 million in gross proceeds. The offering involved the sale of 107,692,307 Class A ordinary shares at $0.065 per share.

The transaction included pre-funded warrants with a purchase price of $0.065 less the $0.0001 exercise price per share. Craft Capital Management LLC served as the sole placement agent, with legal representation from Ortoli Rosenstadt LLP for Erayak and Sichenzia Ross Ference Carmel LLP for Craft Capital.

Brown & Brown (NYSE:BRO) has successfully completed its previously announced acquisition of RSC Topco, the holding company for Accession Risk Management Group. The acquisition strengthens Brown & Brown's position as a leading insurance brokerage firm.

Following the acquisition, Brown & Brown now operates across more than 700 locations with a workforce exceeding 23,000 professionals. The company continues to focus on delivering comprehensive insurance solutions and specialized services to its customers.

Pheton Holdings (NASDAQ:PTHL), a healthcare solution provider specializing in brachytherapy treatment planning systems, has issued an official statement addressing recent market volatility and misleading rumors. The company's stock experienced a significant decline following a speculative article published by The Bear Cave on July 29, 2025.

The company categorically denies any involvement in stock price manipulation or rumors regarding a potential acquisition by Gilead Sciences. Pheton confirms it has had no contact with Gilead and plans to engage with Nasdaq and regulatory bodies to address the situation. Management emphasizes its commitment to transparency and maintaining strong corporate governance standards.

T-Mobile (NASDAQ: TMUS) has completed its acquisition of UScellular's wireless operations for approximately $4.3 billion, consisting of $2.6 billion in cash and $1.7 billion in assumed debt. The deal brings over 4 million UScellular customers into T-Mobile's network, providing them access to enhanced coverage and new benefits.

The transaction includes UScellular's wireless customers, stores, and specific spectrum assets. T-Mobile also completed the Iowa Transactions for an additional $175 million. The UScellular brand will transition to T-Mobile in phases, while Array Digital Infrastructure Inc. (formerly UScellular) will retain ownership of significant spectrum and tower assets.

Starting August 7, UScellular customers will gain access to T-Mobile's dining and travel benefits, with future access to unlimited plans featuring Netflix, AppleTV+, MLB.TV, international roaming, and in-flight Wi-Fi benefits.

ATA Creativity Global (NASDAQ:AACG) has signed a significant MOU with Baby BTC Strategic Capital Limited, a fund backed by the Babylon Foundation. The deal includes a $30 million subscription for new shares and $70 million in warrants, totaling a potential $100 million investment. Upon completion, Baby Capital will gain control of AACG and appoint three directors.

The strategic partnership aims to expand Bitcoin staking business through Babylon's innovative Layer 2 network technology, which has already attracted over 57,000 Bitcoins ($5 billion in staking value). AACG plans to implement a "strategic reserve treasury" approach, primarily investing in Baby tokens and partially in Bitcoin, with plans for continuous acquisition through PIPE, ATM, and convertible bond issuances.

BioXcel Therapeutics (Nasdaq: BTAI) has completed the last patient visit in its pivotal Phase 3 SERENITY At-Home clinical trial, evaluating IGALMI庐 (dexmedetomidine) for treating agitation in bipolar disorders or schizophrenia patients at home. The study collected data from over 2,200 agitation episodes across more than 200 patients at 22 sites nationwide.

The double-blind, placebo-controlled trial tested a 120 mcg dose of BXCL501 and aims to support a supplemental New Drug Application (sNDA) to expand IGALMI's label for outpatient use. Topline data is expected this month. If approved, IGALMI would become the first FDA-approved therapy for the estimated 23 million annual episodes of bipolar or schizophrenia-related agitation occurring at home in the U.S.

Exicure (Nasdaq: XCUR) has completed the last patient visit in its Phase 2 clinical trial evaluating GPC-100 (burixafor) for stem cell mobilization in multiple myeloma patients. The study assesses GPC-100's ability to improve CD34+ hematopoietic stem cell mobilization for autologous stem cell transplant (ASCT).

Key highlights include GPC-100's differentiated rapid mobilization time of just 45 minutes before collection, compared to traditional overnight procedures. The company expects topline results in Q4 2025. Beyond multiple myeloma, Exicure plans a Phase 1 study in acute myeloid leukemia and is exploring potential collaborations for cell and gene therapy applications.