This is confirmation, not a fresh operating update. The merger closed on March 19, 2026, and the company was renamed Corvex effective March 23, 2026. 〔0〕 The filing mainly supplies required pro forma statements and says the 2025 presentation was previously disclosed, with only classification changes and no changes to the underlying transaction adjustments. 〔1〕
| Period | Pro forma revenue | Pro forma net loss | Pro forma diluted EPS |
|---|---|---|---|
| Six months ended June 30, 2026 | $4,312 | $(26,155) | $(0.94) |
| Year ended December 31, 2025 | $7,535 | $(67,546) | $(2.62) |
The combined business remains small and deeply loss-making on the filing's own numbers. The pro forma statements show $4,312 of revenue against a $26,155 net loss for the first six months of 2026, and $7,535 of revenue against a $67,546 net loss for full-year 2025 (Pro Forma Combined statements).
The transaction carries substantial accounting value and equity complexity. Management estimates purchase consideration at $581,955, with $519,318 recorded as goodwill and additional identifiable intangibles of $15,400 (Note 3—Acquisition). The deal also involved preferred-stock conversions, a 1.358-for-1 stock split, and assumed equity awards, making dilution and the final share count central to the post-merger picture.
The accounting is not final, so headline assets and future expenses can still move. The purchase-price allocation remains preliminary, including the valuation of the payment shares, goodwill, intangible assets, and assumed liabilities; the company can revise it during the measurement period, no later than one year after closing. 〔2〕
Net read: in line with what was already known, not a new beat or miss. Because the merger, financing structure, prior pro forma figures, and legacy-asset disposal were already disclosed, this filing adds required detail rather than a fresh surprise. The key unresolved item is the final acquisition accounting, not a change in the operating outlook.
Read the original 8-K on SEC EDGAR ↗