Financial Performance - The net loss for the three months ended March 31, 2025, was $163,101, with a basic and diluted net loss per Class B ordinary share of $0.03[16] - The Company had a net loss of $163,101 for the three months ended March 31, 2025, consisting of general and administrative costs of $18,101 and share-based compensation expense of $145,000[106] - The company recorded a net loss per ordinary share, with diluted loss per ordinary share being the same as basic loss per ordinary share for the period presented[59] Initial Public Offering (IPO) - The company completed its Initial Public Offering on May 16, 2025, raising gross proceeds of $201,250,000 from the sale of 20,125,000 units, including the full exercise of the underwriters' over-allotment option[27] - The Initial Public Offering (IPO) generated gross proceeds of $201,250,000 from the sale of 20,125,000 units at $10.00 per unit, including the underwriter's over-allotment option[127] - The company completed its Initial Public Offering of 20,125,000 Units, including the full exercise of the underwriters' over-allotment option[60] - The company sold 20,125,000 Units at a price of $10.00 per Unit during the Initial Public Offering, including the full exercise of the over-allotment option of 2,625,000 Units[64] Assets and Liabilities - As of March 31, 2025, total assets increased to $1,140,160 from $622,778 as of December 31, 2024, representing an increase of approximately 83%[13] - Total liabilities rose to $1,197,678 from $662,195, marking an increase of about 81%[13] - As of March 31, 2025, the company had no cash and a working capital deficit of $747,600[42] - The company has an unsecured promissory note from the Sponsor of up to $400,000 to satisfy liquidity needs[42] - The company may convert up to $1,500,000 of Working Capital Loans into units of the post-Business Combination entity at a price of $10.00 per unit[43] - The company had no borrowings under Working Capital Loans as of March 31, 2025[43] Trust Account and Business Combination - The trust account holds $201,250,000 from the net proceeds of the Initial Public Offering, which will be invested in cash or U.S. government treasury obligations until a Business Combination is completed[31] - The company intends to apply substantially all net proceeds from the Initial Public Offering towards consummating a Business Combination[30] - The company will provide Public Shareholders the opportunity to redeem their shares for a pro rata portion of the amount held in the Trust Account upon completion of a Business Combination[32] - If a Business Combination is not completed within 21 months from the closing of the Initial Public Offering, the company will redeem the Public Shares at a per-share price equal to the aggregate amount in the Trust Account[37] - A total of $201,250,000 was placed in the Trust Account following the IPO, which will be used to complete the Business Combination[109] - The Company intends to use substantially all funds in the Trust Account for the Business Combination and remaining proceeds for working capital[110] Operating Status - The company has not commenced any operations as of March 31, 2025, and will not generate operating revenues until after completing its initial Business Combination[26] - The Company has not generated any revenues to date and does not expect to do so until after the completion of the Business Combination[105] Costs and Expenses - Transaction costs associated with the Initial Public Offering amounted to $10,727,318, which included $1,500,000 in cash underwriting fees and $7,568,750 in deferred underwriting fees[29] - The Company incurred total offering costs of $10,727,318, which included a cash underwriting fee of $1,500,000 and a deferred underwriting fee of $7,568,750[109] - The Company recognized a share-based compensation expense of $145,000 for the three months ended March 31, 2025, related to the transfer of 125,000 Founder Shares to independent directors[67] - The Company has a total deferred legal fee of $450,078 as of March 31, 2025, related to the Initial Public Offering[81] Governance and Compliance - The company is classified as an "emerging growth company" and may take advantage of certain exemptions from reporting requirements[45] - The Company has no off-balance sheet arrangements as of March 31, 2025[114] - The management has evaluated the effectiveness of disclosure controls and procedures, concluding they were effective as of March 31, 2025[121] - The company does not expect its disclosure controls to prevent all errors or instances of fraud, acknowledging inherent limitations[122] - There have been no material changes to the risk factors disclosed in the final prospectus for the IPO filed with the SEC[126] - There are no material legal proceedings currently pending against the company or its officers[125] Future Considerations - The geopolitical instability from the Russia-Ukraine conflict and the Israel-Hamas conflict may adversely affect the Company's search for an initial Business Combination[84][85] - The company does not believe it will need to raise additional funds to meet operating expenditures prior to the initial Business Combination[44] - The Sponsor may provide loans to fund working capital deficiencies or transaction costs related to the Business Combination[112] - The company has no long-term debt or significant liabilities, only an agreement to pay the Sponsor $30,000 per month for office space and administrative services[115]

Core Point - The article reports that Ukrainian armed forces used Storm Shadow cruise missiles to attack the city center of Donetsk, resulting in one death [1] Summary by Categories - **Military Actions** - Ukrainian forces conducted a missile strike using Storm Shadow cruise missiles on June 30, targeting the city center of Donetsk [1] - **Casualties** - The attack led to one confirmed death [1] - **Response** - As of now, there has been no response from Ukrainian officials regarding the incident [1]

Group 1 - The overall market sentiment is neutral, with a mixed outlook on buying and selling signals across different time frames [2][5]. - The moving averages indicate a buy signal for MA5, MA50, MA100, and MA200, while MA10 and MA20 show sell signals [4][5]. - Technical indicators such as MACD and ROC suggest a buying opportunity, while others like ADX indicate a sell signal [7][8]. Group 2 - The RSI is at 49.877, indicating a neutral position, while the Stochastic indicator shows an overbought condition at 94.475 [7]. - The pivot points for the market are set with key levels at S3: 13182.0, S2: 13343.0, and R1: 13688.0, indicating potential support and resistance levels [8]. - The overall summary reflects a balance between buy and sell signals, with a total of 7 buy signals and 5 sell signals across various indicators [2][5].

Core Points - Hawthorn Bancshares, Inc. has been included in the Russell 3000 Index and the Russell 2000 Index, effective June 30, 2025, marking a significant milestone for the company [1][2] - The Russell 3000 Index consists of the largest 3,000 U.S. public companies by market capitalization, while the Russell 2000 Index focuses on small-cap companies [3] - The inclusion in these indexes is expected to enhance the company's visibility in the investment community and validate its growth and shareholder value [4] Company Overview - Hawthorn Bancshares, Inc. is a financial-bank holding company based in Jefferson City, Missouri, and is the parent company of Hawthorn Bank, which has been serving families and businesses for over 150 years [6] - The bank operates multiple locations, including areas in the greater Kansas City metropolitan area, Jefferson City, Columbia, Springfield, and Clinton [6] Market Impact - The Russell indexes are widely utilized by investment managers and institutional investors, with approximately $10.6 trillion in assets benchmarked against them as of June 2024 [4]

Q2 2025 Financial Highlights - Revenues reached $237 million, a 35% year-over-year increase in constant currency, surpassing prior guidance of $235 million - $241 million[9] - Annual Recurring Revenue (ARR) reached $838 million, up 46% year-over-year in constant currency, or 2% pro-forma[9] - The company achieved a Net Retention Rate (NRR) of 100%[9] - Operating margin was 40%[9] - Earnings per share (EPS) was $1.40, exceeding the high end of prior guidance of $1.28 - $1.34[9] Guidance - Q3 2025 guidance projects revenue between $237 million and $243 million, with EPS between $1.28 and $1.34[9] - Fiscal Year 2025 revenue guidance is updated to $962 million - $974 million, increased from $958 million - $970 million[9] - Fiscal Year 2025 EPS guidance is updated to $5.28 - $5.40, increased from $5.25 - $5.37[9] Growth Strategy - The company's ARR has a Compound Annual Growth Rate (CAGR) of 19% from Q2 2020 to Q2 2025[20] - Revenue has a CAGR of 15% from 2021 to 2025(E), based on the midpoint of FY25 guidance[22] - Operating income has a CAGR of 13% from 2021 to 2025(E), based on the midpoint of FY25 guidance[24] - Unlevered Free Cash Flow (FCF) has a CAGR of 11% from 2021 to 2025(E), based on the midpoint of FY25 guidance[26] Capital Allocation - The company repaid $40 million in debt in Q2 2025, bringing the year-to-date total to $70 million[30] - The company is currently modeling $160 million in debt repayment for FY2025[30] - The company repurchased $20 million of shares in Q2 2025, bringing the year-to-date total to $50 million[30] - ShareFile adds over $250 million of ARR[11]

Core Viewpoint - Indigo Acquisition Corp. has priced its initial public offering (IPO) of 10,000,000 units at $10.00 per unit, with trading set to begin on July 1, 2025, under the ticker symbol "INACU" on Nasdaq [1] Company Overview - The Company is a Cayman exempt company formed as a blank check company aimed at engaging in mergers, share exchanges, asset acquisitions, and similar business combinations with established, profitable companies that have attractive market positions and growth potential [2] - The management team is led by Chairman and CEO James S. Cassel and COO/CFO Scott Salpeter [2] Offering Details - EarlyBirdCapital, Inc. is the book-running manager for the offering, while IB Capital serves as co-manager [3] - The Company has granted underwriters a 45-day option to purchase an additional 1,500,000 units at the IPO price to cover over-allotments [3] - The offering is conducted solely through a prospectus, with copies available from EarlyBirdCapital, Inc. [3] Regulatory Information - A registration statement for the securities was filed with the SEC and declared effective on June 30, 2025 [4]

Market Growth and Projections - The SD-WAN market is estimated to be approximately $4.5 billion in 2023, projected to grow to over $17.6 billion by 2030, with a CAGR of 18% in North America and over 60% in APAC[25]. - SASE software and platform revenues are expected to grow from $6.4 billion in 2022 to $27.2 billion by 2030, resulting in a CAGR of almost 20%[26]. - The total NMS market is projected to grow at a CAGR of 10% from $2.0 billion in 2022 to approximately $4.4 billion by 2030, with cloud-based solutions accounting for almost 85% of the total market[27]. Company Overview and Operations - FatPipe has over 2,500 end-user customers across various sectors, with no single customer accounting for over 10% of total revenue in fiscal years 2024 and 2025[53]. - The company is headquartered in Salt Lake City, Utah, with additional operations in Chennai, India, highlighting its international presence[64]. - The company has 154 full-time employees, with 57 in the U.S., 92 in India, and 5 in the Philippines, reflecting a diverse workforce[62]. Financial Performance - For the fiscal year ended March 31, 2025, net revenue was $16,288,881, a decrease of $1,572,028, or 9%, from the prior fiscal year[180]. - Gross profit for the fiscal year ended March 31, 2025, was $15,227,234, a decrease of $1,564,101, or 9%, from the prior fiscal year[182]. - Net income for the fiscal year 2025 was $1,952,895, down from $4,279,681 in 2024, indicating a significant decline[208]. Revenue Sources and Contracts - FatPipe's revenue is derived from software solutions and services, with customer contracts typically ranging from 36 to 60 months[170]. - Recurring billings from monthly and annual subscriptions increased by 23% in 2025, up from a growth of 14% in the previous fiscal year[209]. - The addition of a new cybersecurity product is anticipated to contribute to new revenues and recurring billings going forward[209]. Strategic Partnerships and Market Expansion - Three channel partners accounted for approximately 53.77% of total revenue during fiscal year 2025, highlighting the importance of strategic partnerships[53]. - FatPipe plans to expand its presence in Mexico and Asia markets with geography-specific software license bundles[21]. - The company is in discussions with potential partners to address local market needs in Southeast Asia, excluding China[52]. Intellectual Property and Competitive Edge - The company holds a portfolio of 13 patents covering a range of SD-WAN and related capabilities, enhancing its competitive edge[41]. - As of June 30, 2025, the company holds 13 U.S. patents and seven U.S. trademarks, indicating a strong intellectual property portfolio[58]. Risks and Challenges - The company operates in a highly competitive market, with significant risks related to the introduction of new solutions and the ability to maintain its competitive position[65][66]. - The company faces risks from supply shortages and fluctuating costs of materials, which could adversely affect its financial condition[66][67]. - Increased competition in the market poses risks to the company's ability to acquire new customers and maintain market share[75]. Governance and Management - The company plans to structure employment agreements for co-founders and other employees once independent board members are elected, indicating a focus on governance[63]. - The company is dependent on the continued services of its senior management, and any loss could adversely affect its business and financial condition[80]. Initial Public Offering (IPO) - The company completed its initial public offering on April 9, 2025, selling 791,024 shares at an initial price of $5.75 per share, generating gross proceeds of approximately $4,500,000[59][60]. - The company received net proceeds of approximately $3,700,000 from the IPO after deducting discounts and expenses[60]. Operating Expenses and Financial Management - Operating expenses include marketing and sales, general and administrative, and product development, with expectations for G&A expenses to increase as the company hires more personnel[175]. - The company anticipates continued reliance on operating cash flows and cash raised from the public offering conducted in April 2025 to meet its capital requirements[194]. Cybersecurity and Risk Management - FatPipe's cybersecurity risk management is integrated into its overall risk management framework, ensuring cybersecurity considerations are part of decision-making processes[148]. - The company has not encountered any cybersecurity challenges that materially impaired its operations or financial standing during the year ended March 31, 2025[151]. Compliance and Regulatory Risks - Non-compliance with laws and regulations could result in fines and penalties, negatively impacting the company's ability to contract with public sector clients[123]. - The company relies on various regulatory and contractual requirements when selling solutions to the U.S. government, with non-compliance potentially leading to severe penalties[124].

作者简介于波，江苏省生产力学会秘书长，南京信息工程大学商学院教授，经济学博士，江苏省"六大 人才高峰"高层次人才培养人选，荣获"2020年度中国生产力学会优秀成果奖""第十三届江苏省高校哲学 社会科学研究成果奖三等奖"等多项学术奖励。 □ 于波 习近平总书记在参加十四届全国人大三次会议江苏代表团审议时强调，经济大省要挑大梁为全国发展大 局作贡献，并指明其中一个着力点——"在推动科技创新和产业创新融合上打头阵"。科技创新是产业创 新的核心动力，产业创新是科技创新的价值飞跃，两者相辅相成、互促共进。探寻科产创新融合发展新 路子，扎实推进科产创新深度融合，也是江苏作为经济大省挑大梁、为全国发展大局作贡献的着力点 和"必答题"。 切实激发企业科技创新主体活力。进一步优化营商环境，健全企业激励创新制度体系。推动企业共建或 引进一批新型研发机构、技术转移服务机构，推进协同创新合作。简化企业研发加计扣除手续，加大企 业创新税收优惠，激励企业加大研发投入。强化政策引导和市场激励，鼓励各类金融机构开发和提供促 进企业创新的金融产品。推进实施职务成果赋权、科技人才特殊薪酬管理和中长期股权激励等政策，破 解科技创新激励体制机制难题 ...

2023年，宋林云接过第一书记"接力棒"后，来到许巷村。面对村里种粮大户"缺品牌、缺渠道，缺技 术、缺指导"的困惑，宋林云成为了许巷农产品拓宽增收的"牵线人"。在他的推动下，许巷村党总支与 产发集团党委联建攻坚，通过组织生活共过、发展难题共解，于内召开10余次村情恳谈会、工作推进 会，确立了"烟花三月下扬州酒浓饭香在许巷"的联建品牌；于外聘用来自扬州文化艺术学校、中国农业 科学院家禽研究所、瘦西湖景区等单位的3位专家为村"乡村振兴文化顾问"，与邗江联合村镇银行等10 余家企事业单位达成战略合作关系，帮助村集体销售许巷农产品获利20万元。由市农业农村局和产发集 团"输血"150万元建设的50余亩村集体标准温室大棚建成，种植的草莓、番茄等特色蔬果，成为了富集 体、富村民的"金果果"。 为了让更多类似许巷村的经济薄弱村脱帽，邗江区从"一村一策"发展需求入手，形成国企、机关部门 等"资源清单"，构建区领导、国企、区级机关部门与村结对"三挂三带三解"新模式，明确区四套班子成 员、区级部门、国有企业与64个集体经济发展重点村结对，近两年下派市区29名"第一书记"驻村帮扶， 打造邗江区农业产业研究院、"十百千万"工程指导中 ...

Core Viewpoint - Saia, Inc. is set to release its quarterly financial results on July 25, 2025, before the market opens, followed by a conference call to discuss the results [1]. Group 1: Financial Results Announcement - Saia, Inc. will announce its quarterly financial results on July 25, 2025, before market opening [1]. - A conference call will be held at 10:00 a.m. Eastern Time on the same day to discuss the results [1]. Group 2: Conference Call Participation - Participants can join the conference call by dialing 1-877-317-6789 and should call in five to ten minutes in advance [2]. - The call will be webcast live on the company’s website, and a replay will be available for two hours after the call until August 25, 2025 [2]. Group 3: Company Overview - Saia, Inc. provides a variety of transportation services, including less-than-truckload, non-asset truckload, expedited, and logistics services [3]. - The company operates 213 terminals nationwide and is headquartered in Georgia [3].