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Exela Technologies, Inc. and its controlled entities (XCV-STS, LLC and GP 3XCV LLC) filed a Schedule 13D disclosing equity obtained through XBP Global Holdings, Inc.鈥檚 Chapter 11 restructuring completed on 29 Jul 2025.

鈥� Exela now beneficially owns 33,669,980 shares/warrants, equal to 27.08 % of XBP鈥檚 117,715,369 outstanding shares.
鈥� Executive Chairman Par Chadha personally holds another 2,357,260 shares; combined with Exela鈥檚 stake, he controls 36,027,240 shares/warrants or 28.97 % of the company.
鈥� Ownership arose from conversion of Allowed Notes Claims and a Membership Interest Purchase Agreement executed during the court-approved restructuring. Subsidiaries received 25.4 m common shares plus 6.63 m warrant shares; warrants鈥� terms are filed as Exhibit 99.3.

The shares received are pledged as security for potential tax obligations tied to the restructuring. A Tax Funding Agreement obligates Exela affiliates to pay the first $15 m and any liability above $25 m. A Registration Rights Agreement grants shelf, demand and piggy-back rights for future resale. No other purpose or immediate plans (e.g., takeover, board changes) are stated beyond investment and fulfillment of court-mandated arrangements.

Post-transaction, XBP鈥檚 shareholder base is highly concentrated, giving Exela/Chadha significant influence while leaving 71 % in public or other hands.

Tempus AI, Inc. (symbol TEM) filed a Form 144 indicating that insider Ryan Fukushima intends to sell 20,000 common shares through Morgan Stanley Smith Barney on or about 07/07/2025. At the reference price used in the filing, the shares have an aggregate market value of $1.22 million. The proposed sale represents roughly 0.012 % of the company鈥檚 168.1 million shares outstanding.

The stock was originally acquired as restricted-stock awards on 10/14/2015. The form also discloses that, within the past three months, the same insider (including 10b5-1 plan sales) has already disposed of 47,820 shares, generating gross proceeds of approximately $2.79 million across three transactions (20 k on 06/03/2025, 7.82 k on 05/20/2025, and 20 k on 05/06/2025).

The filing does not disclose any material non-public information and states the seller鈥檚 representation of compliance with Rule 10b5-1. While the dollar value is meaningful, the percentage of ownership being liquidated is small, suggesting limited direct impact on the share float. Nevertheless, continued insider selling can influence investor sentiment.

ProAssurance Corporation (NYSE: PRA) reported that shareholders overwhelmingly approved all proposals connected with its pending merger with The Doctors Company at a special meeting held on 24 June 2025.

鈥� Merger Agreement adoption: 38,225,337 shares voted FOR, just 363,050 AGAINST and 22,192 ABSTAIN; no broker non-votes were recorded. Support exceeded 99% of votes cast, comfortably surpassing any approval threshold.
鈥� Say-on-Pay (merger-related compensation): 31,191,544 FOR, 7,185,578 AGAINST, 233,457 ABSTAIN鈥攁n 81% approval rate on an advisory basis.
鈥� Adjournment proposal: Not required because quorum (鈮�75.6% of outstanding 51,070,243 shares) was achieved and the merger proposal passed.

Under the Agreement and Plan of Merger signed 19 March 2025, Jackson Acquisition Corporation (a wholly owned subsidiary of The Doctors Company) will merge with and into ProAssurance, making ProAssurance a wholly owned subsidiary of The Doctors Company. Management currently expects closing in the first half of 2026, subject to regulatory clearances and other customary conditions.

The filing reiterates extensive forward-looking risk factors, including regulatory approvals, potential litigation, business disruption, personnel retention and market reactions during the pre-closing period. A related news release (Exhibit 99.1) announcing the vote results was issued the same day.