The Special Situation Report #143: 1/5 Roundup

Summary of the Week in Special Situations

Table of Contents:

1. Update on Developing M&A

2. Update on Shareholder Activism

3. Update on Other Special Situations

4. Announced M&A

5. C-Suite Sudden Departures

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Update on Developing M&A

Rumors

• Getty Images (GETY): Exploring a combination with rival Shutterstock (SSTK). (Bloomberg)

• Vivid Seats (SEAT): Exploring a sale after receiving takeover interest. (Bloomberg)

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Update on Shareholder Activism

• Paramount Global (PARA): Gabelli Funds filed a complaint in Delaware court to access Paramount's records, alleging noncompliance and investigating fairness concerns in the Skydance merger, particularly regarding NAI's control. (13D Filing)

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Update on Other Special Situations

• CompoSecure (CMPO): CompoSecure plans to spin off a new subsidiary, Resolute Holdings Management, by Q1 2025. The company's investment team and related costs will transfer to Resolute Holdings after the spin-off. (Press Release)

• Euroseas (ESEA): Euroseas announced plans to spin off three older vessels—M/V Aegean Express, M/V Diamantis P, and M/V Joanna—into a new company, Euroholdings Ltd., which has applied for NASDAQ listing. The spin-off's structure, terms, and timing remain uncertain, with a conference call scheduled for January 7, 2025. (Press Release)

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Announced M&A

Target / Acquirer – Approximate Transaction Enterprise Value, Expected Closing

Consumer Discretionary

• Vacasa (VCSA) / Casago - $110.56 mn, Q2 2025 (Press Release, Merger Agreement )

Healthcare

• Marinus Pharmaceuticals (MRNS) / Immedica Pharma - $151 mn, Q1 2025 (Press Release, Merger Agreement)

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Sudden Departures

“Sudden Departures” highlight executive exits announced with short notice, where the executive is expected to leave within 30 days of announcement. 

• Currenc Group (CURR): Chief Financial Officer Haggai Ravid resigns effective December 31, 2024. (Filing)

• Creative Realities (CREX): Chief Financial Officer Will Logan resigns effective January 31, 2025. (Press Release)

• Envirotech Vehicles (EVTV): Chief Financial Officer Franklin Lim resigns effective December 31, 2024. (Filing)

• FRP Holdings (FRPH): President David H. deVilliers, Jr. resigns effective January 1, 2025. (Filing)

• Solaredge Technologies (SEDG): General Counsel Rachel Prishkolnik resigns effective December 31, 2024. (Filing)

• Tandy Leather Factory (TLF): Chief Executive Officer  Janet Carr resigns effective January 3, 2025. (Filing)

• TTEC Holdings (TTEC): Chief Accounting Officer Francois Bourret resigns effective January 31, 2025. (Filing)

• WillScot Holdings (WSC): Chief Information Officer Graeme Parkes resigns effective December 31, 2024. (Filing)

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The content herein is informational and should not be relied upon as fact. We do not warrant the completeness or accuracy of the content or data provided in this article. Do your own diligence before making any investment decisions.