iPath® B S&P 500® VIX Md-Trm Futs™ ETN SEC Filings

Salesforce, Inc. (CRM) has filed a Form 144 signaling the intended sale of 144,000 common shares through Merrill Lynch on the NYSE around 01 July 2025. At the reference price used in the filing, the transaction is valued at approximately $39.24 million. The seller—whose name and relationship to Salesforce are not disclosed—originally obtained the shares on 22 March 2019 via the exercise of a stock option and paid for them in cash on 22 March 2023. No additional Salesforce shares have been sold by this filer during the past three months. The proposed sale represents roughly 0.015 % of the company’s 956 million shares outstanding, suggesting minimal impact on overall float or control. The filing contains no indication of a Rule 10b5-1 trading plan, nor any remarks beyond the standard certification language.

On June 26, 2025, Quanterix Corporation (QTRX) filed an 8-K to announce logistics for its 2025 Annual Meeting of Stockholders. The meeting will be held virtually on September 23, 2025 at 9:00 a.m. ET. Because the meeting date falls more than 30 days after the 2024 meeting anniversary, the company has reset key shareholder deadlines:

• Rule 14a-8 proposals must be received by the corporate secretary by July 11, 2025.
• Bylaw-based business or director nominations (outside Rule 14a-8) also require written notice by July 11, 2025.
• Universal proxy notification (Rule 14a-19) is due by July 25, 2025.

No financial results, strategic transactions or operational updates were disclosed. The filing is procedural, ensuring compliance with SEC rules and providing investors sufficient time to submit proposals or nominations.

Palo Alto Networks, Inc. (PANW) – Form 144 filing dated July 1, 2025 discloses a proposed secondary sale of 300,000 common shares by family-related trusts through J.P. Morgan Securities LLC. The shares carry an estimated aggregate market value of $61.392 million based on recent prices and represent approximately 0.05 % of the company’s 666.8 million shares outstanding, implying limited ownership dilution because no new shares are being issued.

The trusts involved (Hawk Family Trust and multiple Cliff Family Trust sub-accounts) have been active sellers. Over the previous three months they completed eight open-market transactions totaling ≈959,796 shares and $145.6 million in gross proceeds, with sales executed on 11-Apr-2025, 1-May-2025 and 2-Jun-2025. The forthcoming 300 k-share block would lift the rolling four-month total to roughly 1.26 million shares.

All sales are made pursuant to Rule 144, which permits resale of restricted or control securities subject to volume, manner-of-sale and notice requirements. The seller certifies that no undisclosed material adverse information is known and, if applicable, that any Rule 10b5-1 trading plan was adopted on the date indicated.

Investment takeaways:

• The filing signals continued insider-related supply but on a scale unlikely to materially affect PANW’s float or trading liquidity.
• Because these are secondary sales, no cash flows to the company; proceeds accrue solely to the trusts.
• Investors may nevertheless monitor insider sentiment, especially given the nine-month cadence of sizable disposals.

Schedule 13D/A Amendment No. 6 for Gabelli Healthcare & Wellness Rx Trust (GRX) Preferred Shares discloses updated ownership information for multiple Gabelli-related entities and individuals.

Aggregate ownership: The Reporting Persons now hold 1,514,000 preferred shares, equal to 45.49 % of the 3,328,500 shares outstanding as of 30 Jun 2025. Key positions include:

• Associated Capital Group (AC): 400,000 shares – 12.02 %
• GAMCO Investors (GBL): 400,000 shares – 12.02 %
• Mario J. Gabelli (individual): 400,000 shares – 12.02 %
• Gabelli Foundation: 314,000 shares – 9.43 %

Recent transactions (26 Jun 2025): Several entities surrendered a total of 1,440,000 preferred shares (Series E & Series G) at $10.00 per share under the Fund’s put right to redeem up to 100 % of its outstanding cumulative preferred stock. The largest single surrender was 830,000 shares by Mario J. Gabelli.

Post-transaction, the group retains a controlling minority of the preferred class, maintaining significant influence over matters requiring preferred-shareholder approval. All reporting persons exercise sole voting and dispositive power over their respective holdings; no shared power is reported. No new legal proceedings or changes in control arrangements were disclosed.

Implications for investors: While the surrender materially reduces absolute ownership, the group’s collective stake remains large at 45 %. The buy-back at par ($10) may signal limited upside in the current preferred valuation and could affect liquidity of the remaining float. However, continued alignment of interests between the Gabelli entities and preferred shareholders persists.

Agilysys, Inc. (AGYS) has filed a Form 144 indicating a forthcoming sale of 258 common shares, valued at approximately $29,253.59, through Fidelity Brokerage Services on 07 July 2025. The shares represent less than 0.001% of the 28,017,312 shares outstanding. The seller acquired the stock one day earlier (06 June 2025) via restricted-stock vesting as compensation. The same individual, identified as Chris Robertson, sold 500 shares for $55,632.75 on 12 June 2025. No additional financial metrics, earnings data, or strategic disclosures accompany the notice. The filing fulfils SEC Rule 144 requirements and signals a routine, small-scale insider liquidity event rather than a material corporate development.

MingZhu Logistics Holdings Limited (ticker YGMZ) filed Amendment No. 2 to its Form F-3 shelf registration on 1 July 2025. The filing is explicitly described as an exhibits-only amendment; the sole purpose is to include updated auditor consents from Audit Alliance LLP and Li CPA LLC (Exhibits 23.1 and 23.2). No changes have been made to the prospectus or to the amount or type of securities that may be offered under the shelf. The company remains an emerging growth company under SEC rules and confirms its authority to offer securities on a delayed or continuous basis pursuant to Rule 415. Standard indemnification language, undertakings, and signature pages are restated, but there is no new financial, operational, or transactional disclosure in this amendment. The filing therefore serves primarily to keep the registration statement current and in full legal compliance ahead of any potential future capital-raising activities.

Morgan Stanley Finance LLC, fully guaranteed by Morgan Stanley, is marketing Contingent Income Memory Auto-Callable Securities linked to the S&P® U.S. Equity Momentum 40% VT 4% Decrement Index (ticker SPUMP40). The securities have a 6-year final maturity (August 5, 2030) but can be automatically redeemed quarterly after six months if the index closes at or above its initial level (100% call threshold). Upon auto-call, investors receive par plus any accrued coupon and no further payments.

Income profile: Investors receive a contingent coupon of 12.00%-13.00% per annum, paid monthly and featuring a “memory” that allows skipped coupons to be made up if a later observation meets the criteria. Coupons are paid only when the index closes at or above the 60% coupon barrier on the relevant observation date.

Downside exposure: Principal is protected only if the final index level is at or above the 60% downside threshold. A decline beyond that level results in a loss of principal matching the index’s negative performance (e.g., −41% index return → $590 repayment per $1,000).

Pricing details: The preliminary estimated value is $931.90 (±$55) per $1,000 note, reflecting structuring and hedging costs. CUSIP 61778NDS7; pricing date July 31, 2025.

• Issuer credit risk applies; MSFL is a finance subsidiary with no independent assets.
• Notes will not be listed; secondary market liquidity may be limited and at unfavorable prices.
• U.S. tax treatment is uncertain; investors should consult advisors.

Kairous Acquisition Corp. Limited (OTC: KACLF/KACUF) has triggered a mandatory liquidation of its SPAC trust. The company failed to deposit the required US$50,000 on 16 May 2025 to extend its business-combination deadline to 16 June 2025 as permitted under its Fourth Amended & Restated Memorandum and Articles of Association. Under the charter, missing that payment forces the SPAC to (i) begin winding down, (ii) liquidate the trust and redeem all public ordinary shares issued in the IPO, and (iii) subsequently liquidate and dissolve.

The board now intends to instruct the trustee to liquidate the securities held in the trust and transfer the cash to a Citibank operating account. Public shareholders will receive their pro-rata cash within 10 business days after 30 June 2025. Street-name holders need take no action; registered holders must deliver certificates to Continental Stock Transfer & Trust.

Sponsor, officers and directors have waived their redemption rights, meaning only public holders participate in the payout. All warrants (KACWF) and rights (KACRF) will expire worthless, eliminating any upside optionality for those securities.

After redeeming the public shares, the board plans to seek an amendment that would remove the obligation to dissolve, allowing the post-redemption entity to remain quoted on OTC Markets and potentially pursue an alternative business combination in the future. No timeline or target has been disclosed.

Barclays Bank PLC is offering $8.386 million of Autocallable Contingent Barrier Return Enhanced Lookback Entry Notes linked to the S&P 500® Index. The Notes are part of the bank’s Global Medium-Term Notes, Series A program and were priced on 27 June 2025 for expected issuance on 2 July 2025.

Key economic terms

• Initial issue price: $1,000 per Note; minimum $10,000 denominations.
• Automatic call: If, on the Review Date (27 Aug 2026), the S&P 500 closing level is ≥ the Lookback Underlier Value (lowest close recorded between the Pricing Date and 25 July 2025), investors receive the Call Price of $1,118 (11.80% premium) on 1 Sept 2026 and the Note terminates.
• Maturity: 1 Sept 2027, unless called early.
• Upside participation: If not called and the Final Underlier Value exceeds the Lookback Underlier Value, return equals 1.5× the positive Underlier Return.
• Barrier: 80% of the Lookback Underlier Value. If final value < barrier, principal is reduced 1-for-1 with the index decline, potentially to $0.
• Estimated value: $981.70 per $1,000 Note (1.8% below issue price).
• Issuer credit: Unsecured, unsubordinated obligations of Barclays Bank PLC; subject to U.K. Bail-in Power.

Investor considerations

• No periodic coupons; total return derives solely from call premium or leveraged upside.
• Lookback feature lowers the effective entry level, potentially increasing call probability and downside cushion, yet investors remain exposed to full downside below the 80% barrier.
• Liquidity: No exchange listing; secondary market, if any, will be made solely by Barclays affiliates and may be illiquid and at prices below issue price.
• Fees & charges: Placement agents (J.P. Morgan) receive up to $15.83 per $1,000; these fees contribute to the gap between estimated and issue price.
• Risks disclosed: loss of principal, reinvestment risk if called after ~14 months, model-driven estimated value, tax uncertainty (pre-paid forward treatment), potential U.K. regulatory bail-in.

Tax & ERISA: Barclays’ counsel expects the Notes to be treated as prepaid forward contracts; IRS could challenge this view. Section 871(m) withholding is not expected to apply. ERISA fiduciaries must confirm adequate consideration and lack of Barclays discretionary control.

The supplement highlights extensive Selected Risk Considerations, including volatility risk, absence of dividends, calculation-agent discretion, change-in-law acceleration, and conflicts of interest arising from Barclays’ dual roles as issuer, hedger and calculation agent.