{ "ticker": "HWH", "company": "HWH International Inc.", "cik": "0001897245", "exchange": null, "gics_sector": "Consumer Discretionary", "industry": "Consumer Discretionary", "logo_url": "https://www.google.com/s2/favicons?domain=hwhintl.com&sz=128", "from_state": "DE", "to_state": "NV", "effective_date_iso": "2025-11-14", "actual_effective_date_iso": "2025-11-14", "proposed_effective_date_iso": null, "source_confidence": "VERIFIED_VOTE", "is_legal_precedent": 0, "vote_mechanism": "WRITTEN_CONSENT", "approval_basis": "Written consent (no Item 5.07 tabulation)", "threshold_result": "PASSED", "event_type": "MERGER_SUB", "two_attempt_flag": 0, "prior_failed_vote_flag": 0, "governance_concession_redo_flag": 0, "subsequent_event_flag": 0, "subsequent_event_type": null, "subsequent_event_date_iso": null, "subsequent_event_note": null, "public_tier": "VERIFIED_TRACKER", "event_study_announcement_json": "{\"event_date\":\"2025-09-15\",\"event_tag\":\"announcement\",\"estimation_window\":\"2024-09-27 to 2025-09-12 (240 days)\",\"specifications\":[{\"name\":\"Synthetic control (19-donor Consumer Discretionary peer pool)\",\"day0_ar\":-0.04397325001555956,\"p_value\":null,\"p_label\":\"no inference (point estimate)\",\"extra\":{\"pre_rmspe\":0.1840667341758534,\"n_donors\":19,\"top_weights\":{\"SBUX\":0.7607,\"ROST\":0.1938,\"MCD\":0.0455,\"ABNB\":0.0,\"HLT\":0.0},\"r2_pre\":-0.8674629464009056}},{\"name\":\"Market model (SPY benchmark)\",\"day0_ar\":-0.04743497767468474,\"p_value\":0.7995284746791183,\"p_label\":\"Patell-z p-value\",\"extra\":{\"alpha\":0.009994704194322645,\"beta\":-0.16875110881620836,\"r2\":0.00012864130133327656}},{\"name\":\"Sector-augmented model (SPY + Consumer Discretionary ETF (XLY))\",\"day0_ar\":-0.05235344686947048,\"p_value\":0.7786459655519791,\"p_label\":\"Patell-z p-value\",\"extra\":{\"alpha\":0.009814453078569846,\"beta_mkt\":-2.298967740362805,\"beta_sector\":1.8952063030337651,\"r2\":0.0052563800556088},\"is_headline\":true},{\"name\":\"Matched pair (vs SBUX, market-model-adjusted)\",\"day0_ar\":-0.05279680355936343,\"p_value\":0.7777741369232745,\"p_label\":\"two-sided p-value\",\"extra\":{\"se\":0.1870761675885829,\"t\":-0.28222089558448693}},{\"name\":\"Raw differential vs SBUX\",\"day0_ar\":-0.04786236647728159,\"p_value\":null,\"p_label\":\"no inference\",\"extra\":{}}],\"robustness\":{\"pretrend_test\":{\"slope_pct_per_day\":0.01959576658028833,\"p_slope\":0.2577831081594635,\"verdict\":\"no_pretrend_detected\"},\"sign_test\":{\"n_same_direction\":10,\"n_total\":19,\"binomial_p_two_sided\":1.0},\"synth_fit\":{\"pearson_corr\":0.2161499306400259,\"r_squared_levels\":-0.8674629464009056,\"durbin_watson\":2.140929459678003}},\"per_window\":[],\"_source\":\"Source A: phase4v cohort runner (5 specs + robustness, 2026-04-28 yfinance pull); joined into data.json by phase5z_join_full_battery.py\",\"event_kind\":\"announcement\",\"t0_source_field\":\"announcement_date_iso\"}", "announcement_date_iso": "2025-09-15", "meeting_date_iso": "2025-10-10", "vote_result": "APPROVED", "status_label": "COMPLETED", "market_cap_usdmm": 48.0, "bucket_class": "B2", "public_bucket_code": "C", "public_bucket_label": "Post-SB29 DExit completed (Nevada)", "public_bucket_subcode": "C-NV", "panel_eligibility": "PANEL_A_post_SB29", "transaction_status": "COMPLETED", "audit_status": "VERIFIED_PROXY", "audit_notes": "No primary-source EDGAR accession in v6 rev78; manual EDGAR pull required. | Phase 2 EDGAR verification 2026-04-28: DEF 14A 2025-10-09 accession 0001493152-25-017601. Reclassified from A/PANEL_E_DE_baseline -> D/PANEL_A_post_SB29. | Phase 2.6 correction 2026-04-27: Phase 2.5 had set bucket_class=D (pending), but legacy NV_eff_dt / TX_eff_dt columns already held completed effective dates. Corrected bucket_class=C (post-SB29 completed mover). Set Panel_A_reincorporator_flag=1, Panel_A_completed_effective_flag=1, bucket_C_post_SB29_DExit=1, and zeroed out bucket_A / bucket_Z / Panel_A_unverified flags. | Phase 3F: cleared future meeting_date_iso=2026-05-15 \u2014 firm already moved (eff_date=2025-11-20); the future date was the next annual meeting at the new domicile, not the reincorporation vote. | Phase 3F vote-result inferred APPROVED from status=COMPLETED + populated eff date (2025-11-20). Original vote_result was 'SCHEDULED'. Verify with 8-K if uncertain. | [2026-04-28] Phase 4I: replaced Google-search IR fallback with direct URL https://hwhintl.com/investors | [2026-04-28] Phase 4K: corrected year error and mechanism. Written consent of majority stockholders 2025-10-10; merger agreement 2025-11-12; eff 2025-11-14 11:00pm ET via parent-subsidiary merger (not direct conversion). Tiny-cap (~$48M) Korean-American holding. | [2026-04-28] Phase 4N: synthesized event_study_announcement_json from existing scalar CAR cells (phase4a_v2 join). Reviewer can extend with multi-spec analysis.\n[2026-04-28] phase5c: vote source 8-K 0001493152-25-024461 (2025-11-20, \u0394=41d) applied from EDGAR pull (status=AUTO_RESOLVED)\n[2026-04-28] phase5c: vote source 8-K 0001493152-25-024461 (2025-11-20, \u0394=41d) applied from EDGAR pull (status=AUTO_RESOLVED)\n[2026-04-29] phase5r: bucket 'C' -> 'B2' (DE->NV effective 2025-11-14 >= SB29 -> bucket B2)\n[2026-04-29] phase5w: comprehensive validation by external reviewer across tranches v3 (4-version full residual walk, 269 substantive answers across 52 firms, 0 bucket drifts vs v3.58) | [2026-04-29] v3.75: written-consent transaction; approval_pct NULL by design per protocol \u00a73.7. Standard derived from DGCL \u00a7228. Per-firm consent threshold pincite pending PRE 14C / 8-K review.", "edgar_accession": null, "edgar_accession_note": null, "links": [ { "label": "IR", "url": "https://hwhintl.com/investors", "link_type": "ir" }, { "label": "EDGAR", "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001897245&type=&dateb=&owner=include&count=40", "link_type": "search" }, { "label": "Proxy", "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001897245&type=DEF+14A&dateb=&owner=include&count=40", "link_type": "search" } ], "car": { "value": 0.08294628675639562, "significant_5pct": 0, "specification": "panel_A_pooled_3primary", "source": "05_REVIEWER_AUDIT_PACKAGE/code/panelA_CAR_BHAR_matrix_v2.3.csv", "status": "ESTIMATED", "bhar_3mo": -0.902425, "pooled_3primary": 0.08294628675639562, "t0_a": -0.2650854329381639, "t0_b": 0.04845255740584256, "t0_c": 0.2995791622887169, "announce": { "value": -0.2650854329381639, "pvalue": null, "specification": "panel_A_T0_announcement", "event_date": null }, "vote": { "value": 0.04845255740584256, "pvalue": null, "specification": "panel_A_T0_vote", "event_date": null } }, "votes_for": null, "votes_against": null, "votes_abstain": null, "votes_broker_nonvote": null, "approval_pct": null, "votes_for_disinterested": null, "votes_against_disinterested": null, "votes_abstain_disinterested": null, "votes_broker_nonvote_disinterested": null, "approval_pct_disinterested": null, "approval_basis_disinterested": null, "announcement_PRE_14A_accession": null, "announcement_PRE_14A_url": null, "vote_source_8k_accession": "0001493152-25-024461", "vote_source_8k_url": "https://www.sec.gov/Archives/edgar/data/1897245/000149315225024461/form8-k.htm", "vote_proposal_title": null, "meeting_type": null, "approval_standard": "majority of voting power of outstanding shares entitled to vote (written consent under DGCL \u00a7228 or state equivalent)", "companion_proposal": null, "proxy_advisors": null, "management_response": null, "press_coverage": [], "prior_vote": null, "panel_a_tx_incumbent": 0, "panel_b_dexit_mover": 1, "texas_statutory_adoptions": { "tboc_21_552": { "name": "SB 29 \u2014 TBOC \u00a721.552 derivative threshold", "adopted": 0, "source": null, "url": null, "date": null }, "tboc_21_373": { "name": "SB 1057 \u2014 TBOC \u00a721.373 shareholder-proposal threshold", "adopted": null, "source": null, "url": null, "date": null } }, "event_study_outcome_json": "{\"event_date\":\"2025-11-14\",\"event_kind\":\"outcome\",\"event_tag\":\"outcome\",\"t0_source_field\":\"actual_effective_date_iso\",\"estimation_window\":\"trailing 240 days; 240 valid after NaN drop\",\"specifications\":[{\"name\":\"Market model (SPY benchmark)\",\"day0_ar\":-0.021985619215824204,\"p_value\":0.9020385162350626,\"p_label\":\"Patell-z p-value\",\"extra\":{\"alpha\":0.0049502763193409885,\"beta\":0.061644757527530104,\"r2\":1.8966861584313044e-05,\"sigma\":0.17824673900771018},\"is_headline\":true}],\"_meta\":{\"n_valid_pre_days\":240},\"_source\":\"Source B: phase4v3 NaN-safe runner (outcome/vote window, 2026-04-29 yfinance pull); joined by phase5z_join_full_battery.py\"}", "announcement_source_type": null, "announcement_accession_verified": "N", "date_quality_flag": "LOW", "controlled": null, "controller_pct_voting_power": null, "controller": null, "controller_source": "UNKNOWN", "event_study_longrun_json": "{\"event_kind\":\"longrun\",\"event_date\":\"2025-11-14\",\"t0_source_field\":\"actual_effective_date_iso\",\"horizons\":[{\"label\":\"BHAR_21d\",\"lay_label\":\"1 month\",\"horizon_days\":21,\"n_days_available\":21,\"bhar_vs_spy\":0.01857317503228928,\"bhar_vs_sector\":-0.02727222794932871,\"sector_etf\":\"XLY\",\"patell\":{\"car\":0.09202065766266174,\"z\":0.16526618512307636,\"p_value\":0.8687344731618012,\"n\":21}},{\"label\":\"BHAR_63d\",\"lay_label\":\"3 months\",\"horizon_days\":63,\"n_days_available\":63,\"bhar_vs_spy\":-0.0937535365498321,\"bhar_vs_sector\":-0.08501579229282363,\"sector_etf\":\"XLY\",\"patell\":{\"car\":0.12036436778458001,\"z\":0.12480614851173219,\"p_value\":0.9006770196476499,\"n\":63}},{\"label\":\"BHAR_126d\",\"lay_label\":\"6 months\",\"horizon_days\":126,\"n_days_available\":113,\"bhar_vs_spy\":null,\"bhar_vs_sector\":null,\"sector_etf\":\"XLY\",\"patell\":null},{\"label\":\"BHAR_252d\",\"lay_label\":\"12 months\",\"horizon_days\":252,\"n_days_available\":113,\"bhar_vs_spy\":null,\"bhar_vs_sector\":null,\"sector_etf\":\"XLY\",\"patell\":null}],\"calendar_time_alpha\":{\"vs_spy\":{\"alpha_daily\":-0.005431310844918769,\"alpha_annualized\":-0.7465074228148206,\"t_stat\":-0.9060850090293431,\"p_value\":0.36489085931908394,\"n_days\":113,\"se_type\":\"Newey-West HAC, lag=5\"},\"vs_sector\":{\"alpha_daily\":-0.004600826023094279,\"alpha_annualized\":-0.687166282747971,\"t_stat\":-0.7965595922366224,\"p_value\":0.4257068530043663,\"n_days\":113,\"se_type\":\"Newey-West HAC, lag=5\"}},\"estimation_window\":\"trailing 240 days; market-model alpha+beta for Patell-z baseline\",\"_meta\":{\"n_post_days_available\":113,\"elapsed_days\":167,\"as_of\":\"2026-04-30\"},\"_source\":\"phase5z_compute_longrun.py; yfinance pull at run time\"}", "_evidence_strength": { "badge": "SILVER", "score": 55, "max": 100, "components": { "source_confidence": 25, "vote_totals": 0, "effective_date": 20, "car_estimate": 10, "edgar_accession": 0 } }, "_context_callout": "Standard cohort firm (Completed). Included for breadth across destinations and sectors.", "_generated_at": "2026-04-30" }