Risk factors

Rhythm Pharmaceuticals highlights risks around financing its pipeline, commercializing setmelanotide, and navigating international regulatory and pricing pressures.

Internal control weaknesses disclosed following post-IPO reviews, alongside evolving cybersecurity regulations impacting operations.

New cost-saving initiatives and interest rate risks highlight a heightened focus on operational efficiency and debt management.

Fleet status shifted from 11 operating and 1 preparing to 10 operating, 1 upgrading, and 1 in repair as of December 31, 2025. Artificial intelligence risks expanded to cover third-party integration gaps, competitive disadvantage, and unproven benefits.

Sezzle lost its emerging growth and smaller reporting company status, incurring higher compliance costs and public reporting obligations.

Shake Shack added risks around its organizational structure, long-term property leases, and stock price volatility.

Debt exposure increased to $642.4 million, including $567.4 million of Notes and $75.0 million drawn on the RCF.

Tanger Inc. updated its risk profile to address new exchangeable notes and associated capped call transactions, alongside trade policy and tariff uncertainties.

Silgan Holdings expanded international operations and debt levels while grappling with supply chain disruptions, energy costs, and labor availability.

SM Energy is heavily focused on integrating the Civitas merger and restructuring debt via South Texas asset sales.

Standard Motor Products faces new risks from customer volume fluctuations in Engineered Solutions and ongoing asbestos liabilities of 945 cases.

NuScale faces intense global competition from operating SMRs in China and Russia, while lacking binding customer contracts for NPMs.