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NEW YORK - Steel Partners Holdings L.P. (NYSE:SPLP), a diversified global holding company with nearly $2 billion in annual revenue, shared an annual letter to its stakeholders today, detailing the company’s performance and strategic direction. The company, which has achieved a perfect Piotroski Score of 9 according to InvestingPro data, filed the letter dated March 11, 2025, with the U.S. Securities and Exchange Commission as part of a Form 8-K.
In the communication, Steel Partners emphasized its commitment to enhancing value for its partners and stakeholders. The letter is intended to provide transparency into the company’s operations and future initiatives. The details of the letter were not disclosed in the SEC filing summary.
Steel Partners, with a portfolio that includes various industries such as manufacturing and technology, operates under the leadership of Steel Partners Holdings GP Inc. The company, currently trading at an attractive P/E ratio of 3.74 and below its Fair Value, has a market capitalization of approximately $778 million. The company’s common units and 6.0% Series A Preferred Units are both listed on the New York Stock Exchange under the symbols SPLP and SPLP-PRA, respectively.
The information provided in the stakeholder letter, according to the SEC filing, is not to be considered "filed" for regulatory purposes or subject to the liabilities of Section 18 of the Exchange Act. Moreover, it should not be incorporated by reference into any future filings under the Securities Act of 1933 or the Exchange Act unless explicitly stated by the company in such filings.
Steel Partners, originally known as WebFinancial L.P., underwent a name change on December 29, 2008, and has since evolved its business model and investment strategy. The company’s headquarters are located at 590 Madison Avenue, 32nd Floor, New York, NY 10022.
This news is based on a press release statement and investors are advised to review the full stakeholder letter filed with the SEC for a comprehensive understanding of the company’s performance and strategic plans. For detailed financial analysis and additional insights, including 8 more exclusive ProTips and comprehensive financial metrics, visit InvestingPro.
In other recent news, Steel Partners Holdings L.P. announced the completion of a short-form merger with Steel Connect, Inc., making Steel Connect an indirect wholly-owned subsidiary of Steel Partners. The merger was conducted under Delaware General Corporation Law and approved by the Audit Committee of Steel Connect’s Board of Directors. The transaction, requiring approximately $31.2 million, was funded through Steel Partners’ existing senior credit agreement. Alongside the merger, Steel Partners entered into a Contingent Value Rights Agreement with Equiniti Trust Company, LLC, allowing eligible Steel Connect shareholders to receive contingent value rights tied to potential future litigation proceeds. These rights do not confer any equity or ownership interest in Steel Partners or its affiliates. Following the merger, Steel Connect notified the NASDAQ Capital Market of its intent to delist its common stock, with trading suspended and a formal delisting request submitted to the SEC. Steel Connect also plans to file a Form 15 with the SEC to suspend its reporting obligations under the Exchange Act. This merger represents a significant restructuring for Steel Partners, impacting its organizational setup and financial dynamics.
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