Reservoir evaluates two buyout offers while revenue grows 11% to $175.7M; controls remediated

Filed May 28, 2026 · Period ending March 31, 2026 · Compared to 10-K May 28, 2025 · ~1 min read

Key Changes

• high

  Special Committee formed to evaluate competing acquisition proposals from Irenic ($10-$11/share) and Wesbild/Richmond ($10.50/share); Morgan Stanley and Wachtell Lipton engaged as advisors. No assurance of definitive agreement.

  Business: Unsolicited Acquisition Proposals verify on EDGAR →
• high

  Company remediated last remaining material weakness in internal controls over royalty processing; auditor issued clean opinion on control effectiveness for first time. Deloitte now attests to controls following exit from emerging growth company status.

  Controls & Procedures verify on EDGAR →
• high

  Revenue grew 11% to $175.7M driven by catalog acquisitions and streaming expansion. Music Publishing up 9% to $117M; Recorded Music up 17% to $52M despite non-recurrence of prior-year royalty recovery.

  MD&A: Revenue Growth verify on EDGAR →