Warren G. Lichtenstein and Steel Partners, Ltd. have jointly acquired a significant stake in Wilhelmina International, Inc. (NASDAQ:WHLM). According to a recent SEC filing, the two entities purchased 333,444 shares of common stock, valued at approximately $1.18 million. The shares were acquired at a weighted average price of $3.5453 per share, with the transactions occurring at prices ranging from $3.47 to $3.55. The timing appears strategic, as InvestingPro data shows WHLM’s stock has gained nearly 13% in the past week, while maintaining strong fundamentals with a current ratio of 1.8 and more cash than debt on its balance sheet. Additional insights are available through InvestingPro, which features 8 more key investment tips for WHLM.
Lichtenstein, who serves as the CEO and Chairman of the Board of Steel Partners, and Steel Partners are considered part of a group that collectively holds more than 10% of Wilhelmina’s outstanding shares. However, both parties have disclaimed beneficial ownership of the securities except to the extent of their pecuniary interest. Following this transaction, the group holds a total of 983,773 shares indirectly through Steel Partners in the $18.1 million market cap company.
In other recent news, Wilhelmina International, a Dallas-based management consulting firm, has announced its voluntary decision to delist from the Nasdaq Capital Market. As per a recent SEC filing, the Board of Directors resolved to terminate the listing of the company’s common stock on Nasdaq. The company has submitted a Form 25 to the SEC, and the delisting is expected to take effect no sooner than ten days after the filing.
Following the delisting, Wilhelmina International’s common stock may continue to be traded through private transactions and potentially on an over-the-counter (OTC) market, pending market makers’ willingness to list the shares. However, no assurance has been provided that trading will continue on an OTC market or that any broker will elect to make a market in the shares.
These recent developments come after a history of corporate name changes for Wilhelmina International, reflecting its evolving business focus over the years. The company has yet to disclose the reasons for the delisting or any future plans regarding its stock or business operations following the delisting from Nasdaq.
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