Welcome to our dedicated page for Steel Partners Hldgs L P news (Ticker: SPLP), a resource for investors and traders seeking the latest updates and insights on Steel Partners Hldgs L P stock.
Steel Partners Holdings L.P. (SPLP) operates as a global diversified holding company with interests spanning industrial products, energy services, financial solutions, and specialized sectors including defense and logistics. This news hub provides investors and industry professionals with centralized access to official updates and analysis on SPLP's multifaceted operations.
Our curated collection of press releases and news articles offers timely insights into earnings reports, strategic acquisitions, sector-specific developments, and leadership announcements. Users will find verified information on corporate milestones across SPLP's industrial manufacturing divisions, WebBank financial services, energy operations, and emerging market ventures.
This resource serves as an essential tool for monitoring the company's performance in key areas such as engineered industrial components, oilfield services, and cross-sector partnerships. Content is organized to highlight operational achievements while maintaining compliance with financial disclosure standards.
Bookmark this page for streamlined access to SPLP's evolving business narrative, supported by factual reporting and neutral commentary. Regular updates ensure stakeholders remain informed about this diversified corporation's position across multiple industries.
Steel Partners Holdings (NYSE: SPLP) has terminated its merger agreement with Steel Connect (NASDAQ: STCN), initially dated June 12, 2022. The agreement was called off after failing to gain majority approval from Steel Connect's shareholders not affiliated with Steel Partners. As a result, Steel Connect will remain publicly traded on NASDAQ under the ticker 'STCN'. Further shareholder meeting results will be disclosed in future SEC filings. This decision marks a significant change in the anticipated corporate structure for both companies.
Steel Connect, Inc. (NASDAQ: STCN) announced the termination of its merger agreement with Steel Partners Holdings L.P. (NYSE: SPLP). The merger, intended to transfer all STCN common stock not already owned by SPLP, failed due to lack of approval from a majority of outstanding shares held by non-affiliated shareholders. Consequently, Steel Connect remains a publicly traded entity on NASDAQ. The final results of the recent stockholder annual meeting will be disclosed in filings with the U.S. Securities and Exchange Commission.
Steel Partners Holdings L.P. (SPLP) reported strong Q3 2022 results, with revenue of $425.7 million, up 8.6% year-over-year. Net income surged 64.8% to $36.4 million, translating to $1.45 per diluted common unit. However, Adjusted EBITDA fell to $60.2 million, marking a decrease from $72.5 million in Q3 2021, with a 14.1% EBITDA margin. Year-to-date revenue totaled $1.27 billion, a 16.4% increase, alongside a net income of $133.1 million, a 29.2% rise. The company managed to reduce its total debt to $177.6 million.
Steel Partners Holdings L.P. (NYSE: SPLP) has made its 2021 Schedule K-3, which contains items of international tax relevance, available online. This information is particularly essential for foreign unitholders and others who require it for their federal income tax return. Unitholders can access the Schedule K-3 at www.taxpackagesupport.com/splp. For further assistance, unitholders may contact Tax Package Support at (877) 259-4276.
Steel Partners Holdings L.P. (SPLP) announced impressive second quarter results for 2022, reporting a 14.2% revenue increase to $441.4 million and a 234.2% surge in net income to $92.1 million, equating to $3.52 per diluted common unit. However, Adjusted EBITDA decreased to $59.0 million, with a margin of 13.4%. The company utilized $87.6 million in net cash for operating activities. Total debt was reduced to $176.4 million, with net debt at $114.4 million. A proposed merger with Steel Connect is set to finalize in the second half of 2022, pending approval from stockholders.
Steel Sports is hosting its inaugural Kids First Road Show summer camp at Tropical Park, Miami, from July 18-22, 2022. This initiative promotes sportsmanship among kids aged 7-13, emphasizing core values such as Teamwork, Respect, Integrity, and Commitment. Sponsored by local Steel Partners businesses, the camp includes scholarships funded by ModusLink for inner-city youth. Additionally, the program honors Baseball Hall-of-Famer Tommy Lasorda, aiming to inspire youth to thrive socially and athletically.
Steel Partners Holdings L.P. (NYSE: SPLP) announced the passing of General Richard I. "Butch" Neal, a dedicated board member since July 15, 2009. General Neal contributed significantly as a member of the Audit and Governance Committees, and his leadership and commitment were valued by the company and its stakeholders. Executive Chairman Warren Lichtenstein praised Neal's selflessness and dedication, stating that the company is better due to his service. His legacy includes inspiring leadership and a genuine care for people, which will continue to influence Steel Partners.
Steel Partners (NYSE: SPLP) has signed a definitive merger agreement to acquire Steel Connect, Inc. (NASDAQ: STCN) for $1.35 per share in cash, plus a contingent value right (CVR) linked to potential future proceeds from the sale of Steel Connect’s ModusLink subsidiary. This transaction, approved by both companies’ boards, is expected to close in the second half of 2022, pending stockholder approval. The merger includes a 'go-shop' period until July 12, 2022, allowing Steel Connect to solicit alternative offers. Advisors for the deal include Houlihan Lokey and Imperial Capital.
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