Small Caps
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The ASX Small Cap Everyone Will Be Talking About in 2026: Scalare Partners (ASX: SCP)
27 early-stage tech companies. One ticker. 360% revenue growth lodged with the ASX. Most of the market still hasn't read it.
New Fortress Energy Closes Restructuring That Extinguishes $5.7 Billion of Third-Party Debt, Hives Off Brazil and Leaves Common Holders With 35%
The LNG developer's English restructuring plan took effect Friday. Creditors take the Brazilian business outright, 65% of the surviving company's common stock and preferred equity with a $2.45 billion liquidation preference that ranks ahead of it. Split-adjusted shares are due to resume trading Monday.
ODDITY Tech's revenue falls 25% in the second quarter as the IL MAKIAGE advertising dislocation drags on, but guidance points to a much shallower third-quarter decline
The direct-to-consumer beauty group reported Wednesday that second-quarter net revenue fell to $181 million, with adjusted EBITDA down to $12.9 million from $69.5 million a year earlier. Management guided to an approximately 5% year-over-year revenue decline in the third quarter, a sharp moderation, while conceding it is still working with its largest advertising partner on the underlying technical problem.
InnovAge lifts fiscal 2026 revenue 16% to $989.7m and guides past $1bn
The PACE operator came within $0.7m of GAAP break-even for the year despite $52.4m of accrued litigation loss, and expects census to reach as high as 8,850 participants in fiscal 2027.
Pharvaris Reports 83% Reduction in Hereditary Angioedema Attacks Versus Placebo in Pivotal CHAPTER-3 Study
The 85-patient Phase 3 trial of once-daily oral deucrictibant XR met its primary endpoint at p<0.0001 and hit every ranked secondary efficacy endpoint. Pharvaris said it plans to submit a U.S. new drug application in the first half of 2027.
Equity Bancshares Agrees to Buy Iowa's Lincoln Bancorp for About $123.8 Million, Lifting Pro Forma Assets to $9.1 Billion
The Kansas lender is paying 77.5% in stock and 22.5% in cash for a 16-branch Iowa franchise with $1.7 billion of assets, and says the deal earns back tangible book value dilution in under three years.
Apogee Enterprises Agrees to Buy Latvia's Groglass for Up to 62.5 Million Euros
The Minneapolis architectural products maker is adding an anti-reflective coated glass specialist to its Performance Surfaces segment. Up to 10 million euros of the price is an earnout tied to three-year financial targets.
TScan Pauses Its Phase 3 for Lack of Money, Cuts 75% of Staff and Pivots Back to the Solid-Tumor Program It Shelved Ten Months Ago
TScan Therapeutics said on Sept. 2 it has paused enrollment in the ALLOHA-2 Phase 3 study of TSC-101 because it does not have the capital to run it, having reported dosing its first patient in that trial only three weeks earlier. The reversal buys roughly two extra quarters of runway and returns the company to the solid-tumour work it deprioritised in November 2025 to concentrate on the trial it has now stopped enrolling.
Ranger Energy Agrees to Buy STEP's U.S. Coiled Tubing Fleet for $27.5 Million, or About 2.5x 2027 EBITDA
The Houston well-services company will pay $22.5 million in cash and $5 million in stock for 13 coiled tubing spreads, five facilities and roughly 220 workers, funded off its revolver. Management expects the assets to add $80 million to $90 million of 2027 revenue and become the second-largest coiled tubing position in the Lower 48, with closing targeted for on or about Sept. 11.
NewtekOne Resets 2026 EPS Guidance to $1.70-$1.80 as It Stops Selling Its SBA Loans
The lender is keeping the government-guaranteed portions of its SBA 7(a) originations on the balance sheet instead of selling them within about 90 days of origination, swapping upfront gain-on-sale income for interest income earned over years. The new range sits well below the $2.15-$2.55 it published at its January investor day.
argenx Completes $77-a-Share, $2.2 Billion Takeover of Forte Biosciences
About 87 percent of Forte's shares were tendered before the offer expired just after 11:59 p.m. ET on Wednesday, closing an all-cash deal argenx valued at roughly $2.2 billion. argenx says Forte's stock will no longer be listed or traded on the Nasdaq Capital Market.
Aviat Networks Guides Fiscal 2027 Adjusted EBITDA to $50-$55 Million, a Jump It Must Earn Back From Squeezed Gross Margin
The microwave networking supplier posted a GAAP fourth-quarter loss alongside non-GAAP profit, and paired roughly 5% revenue growth guidance with an adjusted EBITDA target about 43% above fiscal 2026 at the midpoint.
Priority Commerce Agrees to Buy IntelliPay to Open a Government Unit, Citing Just Over $4 Million of Added 2026 Revenue
Terms of the membership interest purchase agreement were not disclosed. The bolt-on lands while a take-private proposal at $6.00 to $6.15 a share from a group led by chief executive Thomas Priore, who controls a majority of the stock, remains outstanding and preliminary as of the company's most recent public disclosure on the matter.
Zymeworks Collects a $250 Million Milestone for a Drug It Does Not Sell
Zymeworks said Tuesday that the FDA has cleared two first-line Ziihera regimens in HER2-positive gastroesophageal cancer, triggering a $250 million payment from Jazz Pharmaceuticals. Zymeworks reported $4.6 million of revenue in its most recent quarter.
Arbutus Opens $230 Million Dutch Auction Tender at $5.00 to $5.75 a Share, Enough to Retire Up to 23.2% of Its Stock
The hepatitis B biotech began a modified Dutch auction tender offer on Aug. 24 for up to US$230 million of its common shares, at prices from US$5.00 to US$5.75. Arbutus says a fully subscribed offer would take in between 20.2% and 23.2% of the 198,105,743 shares outstanding as of Aug. 19. The money comes from a Moderna patent settlement, not from operations: Arbutus held US$92.6 million in cash and investments at June 30 and booked US$1.0 million of revenue in the second quarter, down from US$10.7 million a year earlier.
Expion360 Becomes Expion Energy, Pays $3.425 Million for 3,000 Louisiana Acres and Funds It With $9 Million of 8% Convertible Debentures
The Nasdaq-listed lithium battery maker said on Aug. 24 that it closed the purchase of a drill-ready oil and gas prospect in eastern Louisiana for $3,425,000 in cash, and separately closed an initial $9.0 million of 8% convertible debentures that convert toward common stock at $4.25 a share. The company had $1.54 million of cash at June 30 and its quarterly report disclosed substantial doubt about its ability to continue as a going concern. It reported 953,192 shares outstanding as of June 30, a count that reflects the 1-for-12 reverse split effected on July 21.
Evolution Petroleum Prices $12 Million Stock Sale at $3.25 to Help Fund $16 Million Midland Basin Royalty Purchase
The NYSE American-listed producer priced 3.7 million shares at $3.25 on Aug. 19, with closing expected Aug. 20, to part-fund roughly 3,420 net royalty acres in the Permian. Shares closed at $3.34, down 12.79% on the day.
XTEND's European NATO Contract Is Valued at Up to $15 Million, With About $4.5 Million Secured for the First Year
JFB Construction Holdings said Monday that XTEND, the drone maker it is merging with, signed a multi-year contract with an unnamed European NATO member's defense ministry. The release puts the ceiling at up to approximately $15 million and describes approximately $4.5 million as secured for the first year, with the balance dependent on additional orders and the customer exercising options under the framework agreement. It also moves the expected closing of the merger itself to Sept. 8, a week later than the date given six days earlier.