M3-Brigade, ReserveOne Scrap Merger, Seek More Time For New Deal

Dow Jones

06/13

By Anvee Bhutani

Coda Octopus Group shares climbed Monday, after the company logged an increase in second-quarter profit despite the Iran conflict affecting projects in the Middle East.

Shares of the underwater technology company were recently up around 4.5% at $11.41. Shares are up 17% year to date.

The company posted net income of $1.7 million, or 15 cents a share, up from around $909,000, or 8 cents a share, the year prior.

Revenue was down 1.6% to $6.9 million, compared with $7.02 million in the same quarter a year earlier. This was due to a decline in revenue within their core marine technology business, due to the Iran conflict. Many of Coda's offshore projects in the Middle East and Asia remain on hold.

"During the quarter, we experienced reduced demand from customers in these regions due to the ongoing geopolitical situation," said Chief Executive Annmarie Gayle.

Write to Anvee Bhutani at anvee.bhutani@wsj.com

(END) Dow Jones Newswires

June 15, 2026 09:44 ET (13:44 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Shares are up 17% year to date. \n</p>\n<p>\n  The company posted net income of $1.7 million, or 15 cents a share, up from around $909,000, or 8 cents a share, the year prior. \n</p>\n<p>\n  Revenue was down 1.6% to $6.9 million, compared with $7.02 million in the same quarter a year earlier. This was due to a decline in revenue within their core marine technology business, due to the Iran conflict. Many of Coda's offshore projects in the Middle East and Asia remain on hold. \n</p>\n<p>\n  \"During the quarter, we experienced reduced demand from customers in these regions due to the ongoing geopolitical situation,\" said Chief Executive Annmarie Gayle. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Anvee Bhutani at anvee.bhutani@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 15, 2026 09:44 ET (13:44 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4561","symbol_name":"索羅斯持倉","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2643213753","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2643213753","pubTimestamp":1781300160,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"M3-Brigade Acquisition V Corp. and digital asset investment company ReserveOne have mutually terminated their planned merger, citing changed market conditions in the digital asset sector.The companies ended the combination agreement after \"careful consideration of current market dynamics and feedback from investors and other stakeholders,\" according to a filing with the Securities Exchange Commission. The shareholder meeting scheduled to approve the deal was also canceled.ReserveOne plans to hold and manage bitcoin as well as other cryptocurrencies including Ethereum and Solana. The company said last year it was inspired by the U.S. Strategic Bitcoin Reserve and Digital Asset Stockpile, a federal cryptocurrency reserve established by President Trump through a March 2025 executive order.Bitcoin prices have fallen around 27% this year and have lost about half their value since hitting an all-time-high in October 2025.M3-Brigade, a special purpose acquisition company, instead plans to ask","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4561":"索罗斯持仓","MBAC":"M3-Brigade Acquisition II Corp"},"translate_title":"M3-Brigade与ReserveOne取消合并，为新政寻求更多时间","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MBAV":0.9,"MBAC":1.5},"content_text":"By Anvee Bhutani \n\n\n \n\n\nCoda Octopus Group shares climbed Monday, after the company logged an increase in second-quarter profit despite the Iran conflict affecting projects in the Middle East. \n\n\n  Shares of the underwater technology company were recently up around 4.5% at $11.41. Shares are up 17% year to date. \n\n\n  The company posted net income of $1.7 million, or 15 cents a share, up from around $909,000, or 8 cents a share, the year prior. \n\n\n  Revenue was down 1.6% to $6.9 million, compared with $7.02 million in the same quarter a year earlier. This was due to a decline in revenue within their core marine technology business, due to the Iran conflict. Many of Coda's offshore projects in the Middle East and Asia remain on hold. \n\n\n  \"During the quarter, we experienced reduced demand from customers in these regions due to the ongoing geopolitical situation,\" said Chief Executive Annmarie Gayle. \n\n\n \n\n\n  Write to Anvee Bhutani at anvee.bhutani@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 15, 2026 09:44 ET (13:44 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}