servotronics elects new board members at annual shareholder meeting

Servotronics, Inc. (NYSE American:SVT), a $118.7 million market cap company whose stock has surged over 320% in the past six months, held its 2025 Annual Meeting of Stockholders on June 3. Shareholders representing 2,162,581 shares, or 84.59% of the 2,556,502 outstanding common shares, participated either in person or via proxy.

During the meeting, several key votes took place. Brent D. Baird, William F. Farrell, Jr., Karen L. Howard, Christopher M. Marks, and Evan H. Wax were elected to the board of directors. Each director was elected by a plurality of votes cast, with Karen L. Howard receiving the highest number of votes in favor at 1,689,378. The company maintains strong liquidity with a current ratio of 3.46, though InvestingPro data shows it is currently unprofitable with -$0.40 earnings per share.

In a non-binding advisory vote, the stockholders approved the executive compensation for 2024, with 1,424,427 votes in favor, 660,489 against, and 25,650 abstentions. The company also determined, based on shareholder feedback, to hold future advisory votes on executive compensation annually.

Additionally, Freed Maxick, P.C. was ratified as Servotronics’ independent registered public accounting firm for the 2025 fiscal year. The proposal received 2,125,606 votes in favor, 22,814 against, and 14,161 abstentions.

This information is based on a press release statement filed with the Securities and Exchange Commission.

In other recent news, Servotronics Inc. has announced an amended merger agreement with TransDigm Inc., increasing the tender offer to $47.00 per share in cash. This adjustment follows an unsolicited acquisition proposal from a third party, which Servotronics’ Board of Directors determined was not superior to the revised terms with TransDigm. The merger, valued at approximately $110 million, includes certain tax benefits and has been unanimously approved by Servotronics’ Board. TransDigm will fund the acquisition using its available cash without requiring additional financing. Servotronics reported revenues of around $45 million for the fiscal year ending December 31, 2024. The tender offer for Servotronics shares is expected to commence on or before June 9, 2025, subject to customary closing conditions. Investors are advised to review the tender offer materials when available, as they will provide important information regarding the transaction. Legal and financial advisors for the deal include Baker & Hostetler LLP, Bond Schoeneck & King, and Houlihan Lokey (NYSE:HLI).

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