Friday Furnace

BCB Bancorp suspended quarterly cash dividends on both its common and preferred stock on June 18, 2026, alongside its Dividend Reinvestment and Stock Purchase Plan. Newly installed CEO Thomas M. O'Brien framed the move as capital preservation ahead of a broad credit portfolio review, stating that eliminating dividends will conserve approximately $1.86 million per quarter to protect the bank's "well-capitalized" status "with a reasonable cushion." O'Brien also disclosed that the parent company holds a "limited cash position" and is relying on the bank to service its own debt obligations — a sign of funding stress at the holding company level.

MPLT Maplight Therapeutics, Inc. Management crisis

MapLight CFO Terminated for Cause Eight Months After IPO

At edition (Jun 19, 2026) $1.3B · Live $1.7B

Vishwas Setia was terminated as CFO of MapLight Therapeutics on June 18, 2026, effective immediately, following what the company described as "a review of a human resources violation." The company stated his departure was unrelated to financial results, internal controls, or clinical programs, but provided no further detail on the violation. Jonathan Gillis, the Chief Administrative and Accounting Officer, was named interim CFO while retaining his principal accounting officer duties — leaving one person covering both roles weeks before pivotal Phase 2 readouts from the ZEPHYR and IRIS trials, expected by mid-August 2026.

VOYG Voyager Technologies, Inc. Governance Change

Voyager Technologies Redomesticates to Texas, Changing Stockholder Rights

At edition (Jun 19, 2026) $2.2B · Live $2.0B

Voyager Technologies converted from a Delaware to a Texas corporation on June 18, 2026, with both the board and stockholders having approved the move. The conversion explicitly changed certain stockholder rights, though the full description of those changes resides in a proxy statement filed April 17, 2026, not in the 8-K itself. The redomestication came 17 days after the company agreed to acquire Astrobotic Technology and against a balance sheet carrying $460 million aggregate principal in convertible notes and a Q1 2026 net loss of $44 million.

NMFC New Mountain Finance, Corp. Turnaround

New Mountain Finance CFO Exits; Second Interim Appointment in Three Years

At edition (Jun 19, 2026) $676M · Live $675M

Kris Corbett resigned as CFO and Treasurer of New Mountain Finance Corporation, with the departure effective May 29, 2026 after the board accepted his resignation on March 19. No permanent replacement has been named; Laura C. Holson — the company's COO — was appointed interim CFO, her second such stint following a prior interim term from March to November 2023. The transition coincides with a 22% quarterly dividend cut, the completion of a roughly $468 million asset sale at 94 cents on the dollar, and a decline in net asset value per share from $12.55 at year-end 2024 to $10.92 at March 31, 2026.

GPUS Hyperscale Data, Inc. Distressed

Hyperscale Data Opens $300 Million ATM on $166 Million Market Cap

At edition (Jun 19, 2026) $166M · Live $65M

Hyperscale Data (GPUS) signed a new at-the-market sales agreement with Spartan Capital Securities to sell up to $300 million of Class A common stock — against a market cap of approximately $165.7 million. The program launched ten days after the company terminated a prior $50 million ATM that raised only $24.7 million at roughly $0.18 per share, and seven days after Hyperscale borrowed $15 million from Yorkville (YA II PN) under a variable-price, dilutive prepaid advance structure. A stockholder-approved share authorization increase from 500 million to 2.5 billion Class A shares, enacted in April, provides the legal capacity to run the program.

LOB Live Oak Bancshares, Inc. Post Restatement Remediation

Live Oak Chief Accounting Officer Steps Down After Multi-Year Restatement

At edition (Jun 19, 2026) $1.8B · Live $1.9B

J. Wesley Sutherland is leaving the Chief Accounting Officer role at Live Oak Bancshares effective June 16, 2026, about seven months after the company disclosed a restatement of cash flow statements spanning fiscal years 2022 through the first half of 2025. CFO Walter Phifer has assumed the Principal Accounting Officer duties on an interim basis while the company runs an external search; no permanent successor has been named. The restatement, which was tied to a material weakness in internal controls, did not affect reported net income, equity, or regulatory capital ratios, though the weakness was not publicly confirmed as remediated before this departure.

TSN TYSON FOODS, Inc. Turnaround

Tyson Chairman John H. Tyson Receives $40 Million One-Time Cash Award

At edition (Jun 19, 2026) $19.5B · Live $20.7B

Tyson Foods entered a new employment agreement with Chairman John H. Tyson — a member of the founding family — on June 17, 2026, providing a $40 million one-time cash payment on top of a $3.5 million annual salary, a 300% annual incentive target, and a $6 million long-term incentive award. The agreement, which replaces a 2017 contract and runs through September 30, 2029, was approved by the company's independent directors. The disclosure came one day after the company separately agreed to pay $10.6 million to departing COO Devin Cole, against a backdrop of a GAAP operating loss in the beef segment, a $343 million goodwill impairment charge, and GAAP diluted EPS for the most recently completed fiscal year of $1.33 — down 41% year-over-year.

RUMBW Rumble, Inc. Concentrated Counterparty

Tether Takes €635M Claim on Rumble via Loan and Near-Free Warrants

At edition (Jun 19, 2026) $2.0B

RUM Group Inc. — the newly renamed Rumble — assumed €635M in Tether financing at the close of its Northern Data acquisition: a €317.5M secured five-year convertible term loan to an Irish holding subsidiary, plus a pre-funded warrant giving Tether the right to buy 46.7 million Class A shares at $0.0001 each. Both instruments represent Tether's conversion of its pre-existing Northern Data loan receivable into claims against the combined public company. The security package requires that every Northern Data share acquired by Rumble be pledged to Tether within 30 days, giving the stablecoin issuer a lien over the entire acquired business.

MNTSW Momentus, Inc. Capital Dependent

Momentus Opens $75 Million ATM Days After $25 Million Raise

At edition (Jun 19, 2026) $195M

Momentus established a $75 million at-the-market equity offering program with A.G.P./Alliance Global Partners, ten times the size of the $7.35 million ATM it put in place last September, and arrived three days after the company closed a separate $25 million registered direct offering at $13.50 per share. Against 2025 revenues of $1.1 million and a market cap of roughly $195 million, the new ATM ceiling represents a substantial dilution overhang for a company that has executed more than a dozen separate capital raises in the past twelve months. Management has not stated a purpose for the expanded facility beyond the shelf registration it is drawn under.

LIXT LIXTE Biotechnology Holdings, Inc. Strategic Pivot

Cancer Biotech Lixte Abandons Drug Identity to Acquire Battery Storage Company

At edition (Jun 19, 2026) $132M · Live $125M

LIXTE Biotechnology Holdings, a clinical-stage cancer drug company with active trials in three tumor types, has agreed to acquire NOMAD Transportable Power Systems and rename itself NOMAD Power Solutions. Six days after signing the June 11 merger agreement, Lixte issued a $6.5 million secured promissory note to NOMAD — secured by a first-priority lien on substantially all of NOMAD's assets — with proceeds used to retire NOMAD's existing bank debt and fund working capital. The deal, expected to close around July 1, 2026, includes merger consideration of up to 50,500 shares of Series D Convertible Preferred Stock convertible into as many as 50.5 million new Lixte common shares at $1.00 per share, subject to a separate stockholder vote.

ENGN Engene Therapeutics, Inc. Distressed

enGene Cuts Half Its Workforce as C-Suite Dissolves Before BLA

At edition (Jun 19, 2026) $115M · Live $119M

enGene Therapeutics approved a ~50% workforce reduction on June 14, 2026, citing the need to preserve cash while awaiting durability data and FDA meetings on its detalimogene pivotal trial. Five C-suite officers — the CMO, CFO, CLO, Chief Strategy Officer, and Chief Scientific Officer — are departing or transitioning out by September 30. The board filled the CMO vacancy by appointing a sitting director, Dr. William Grossman, to the role on a part-time basis of up to 15 hours per week. CEO Ronald Cooper received a 400,000-share performance option at $1.75 per share, vesting in two tranches tied to BLA acceptance by September 30, 2027 and FDA approval of detalimogene by December 31, 2028.

ARQ ARQ, Inc. Management Transition

Arq CEO Takes Interim CFO Role While Permanent Hire Awaits

At edition (Jun 19, 2026) $122M · Live $97M

Arq CEO Bob Rasmus is temporarily serving as the company's principal financial officer while an already-named permanent CFO, Shimon Steinmetz, is expected to start on or around July 27, 2026. Separately, the company brought in Peter Owino — an accounting consultant from Princeton Business Consulting — as Interim Chief Accounting Officer, under a consulting agreement capped at $63,000 per month. The dual interim arrangement amounts to a six-week bridge rather than the unexplained leadership vacuum it initially appeared to be.