This week saw significant M&A activity among small-cap firms. TruGolf Holdings completed its acquisition of Polymath Research Inc. on October 8, 2026, with Polymath shareholders receiving 257,494 shares of Class A common stock representing 19.99% of outstanding shares. Hepion Pharmaceuticals closed its acquisition of Gravitas Life Sciences on October 6, 2026, paying $2 million in cash plus approximately 25 million shares of common stock. Columbus Acquisition Corp merged with WISeSat.Space Holdings Corp., with the combined entity trading under the new ticker SAIQ on Nasdaq as of October 2, 2026. Selectis Health completed its merger with Tortuga Acquisition Sub, Inc. on October 5, 2026, becoming a wholly owned subsidiary of the acquirer.

Asset sales dominated the week as well. Clarivate sold its Life Sciences and Healthcare business to an Altaris affiliate on October 6, 2026, for $500 million in cash plus a $75 million senior note and $25 million in deferred consideration. Conduent sold its Transit Solutions business to Modaxo France Holdings SAS on October 1, 2026, for $164 million total consideration. Brandywine Realty Trust sold its office building at 3151 Market Street in Philadelphia on September 30, 2026, for $240 million in gross proceeds. On the delisting front, Accendra Health received a delisting notice from the New York Stock Exchange on October 6, 2026, for failing to meet minimum bid price standards, while Artelo Biosciences faces potential Nasdaq delisting under the new $5 Million Market Value of Listed Securities rule.

This commentary is for informational purposes only and is not investment advice.