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. reports developments for a diversified global holding company identified with the SPLP symbol on OTCQX. Recurring updates cover operating and financial results, limited-partner voting matters, board and governance actions at its general partner, and capital-structure activity under its limited partnership agreement.
Company news also includes preferred-unit distributions and redemptions, actions affecting common units, and initiatives across its family of companies. Steel Sports, a wholly owned subsidiary, appears in updates about youth-sports programs, advisory board appointments, and its values-based Steel Coaching System - The Lasorda Way.
Summary not available.
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.
Summary not available.
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.
Steel Partners Holdings (NYSE: SPLP) has signed a merger agreement to acquire Steel Connect (NASDAQ: STCN) for $1.35 per share in cash and a contingent value right (CVR). The CVR allows shareholders to receive part of the net proceeds from a future sale of Steel Connect’s ModusLink subsidiary if it exceeds $80 million. The merger is backed by both companies' Boards and is subject to Steel Connect's stockholder approval and customary conditions, expected to close in the second half of 2022. A 'go-shop' period for alternative proposals ends on July 12, 2022.
Steel Partners and Steel Sports are hosting employee town hall meetings featuring baseball legend Bobby Valentine across 16 locations this spring, engaging around 3,000 employees. The meetings aim to foster discussion on core values of Teamwork, Respect, Integrity, and Commitment, as well as Valentine’s experiences and insights from his career. These town halls align with Steel Sports' mission to inspire youth and promote a positive culture among employees. The initiative emphasizes mentorship and community involvement, highlighting the company’s commitment to developing youth through sports.
Steel Partners Holdings L.P. (NYSE: SPLP) announced the results of its modified Dutch Auction tender offer, where it sought to buy back up to $100 million in common units. The offer, priced between $40.00 and $42.00 per unit, concluded on May 13, 2022. A total of approximately 361,781 common units were tendered at the maximum price of $42.00, leading to a total expenditure of about $15.19 million, excluding related fees.
Payments for the units accepted will be issued by the Depositary as per the offer's terms.