Steel Partners (NYSE: SPRU) boosts Spruce Power stake with new buys
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Steel Partners-affiliated entities increased their stake in Spruce Power Holding Corp through open-market purchases. Steel Connect Sub LLC, an indirect subsidiary in the Steel Partners structure, bought a total of 14,244 shares of common stock in three transactions at prices between $4.03 and $4.10 per share.
After these trades, Steel Connect Sub LLC held 3,405,045 Spruce Power shares indirectly. The filing notes all reporting entities may be part of a Section 13(d) group owning over 10% of Spruce Power’s outstanding common stock and collectively disclaim beneficial ownership beyond their pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 14,244 shares ($58,100)
Net Buy
3 txns
Insider
STEEL PARTNERS HOLDINGS L.P., Steel Partners Holdings GP Inc., SPH Group LLC, SPH Group Holdings LLC, Steel Excel Inc., Steel Connect LLC, Steel Connect Sub LLC
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
Bought
14,244 shs ($58K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock, par value $0.0001 per share | 3,640 | $4.0327 | $15K |
| Purchase | Common Stock, par value $0.0001 per share | 141 | $4.10 | $578.10 |
| Purchase | Common Stock, par value $0.0001 per share | 10,463 | $4.0947 | $43K |
Holdings After Transaction:
Common Stock, par value $0.0001 per share — 3,405,045 shares (Indirect, By Steel Connect Sub LLC)
Footnotes (1)
- This Form 4 is filed jointly by Steel Partners Holdings L.P ("Steel Holdings"), Steel Partners Holdings GP Inc. ("Steel Holdings GP"), SPH Group LLC ("SPHG"), SPH Group Holdings LLC ("SPHG Holdings"), Steel Excel Inc. ("Steel Excel"), Steel Connect LLC ("Steel Connect") and Steel Connect Sub LLC ("Steel Connect Sub") (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding shares of common stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein. Represents securities owned directly by Steel Connect Sub. Steel Holdings owns a majority of the membership interests of SPHG. SPHG is the sole member of SPHG Holdings. Steel Holdings GP is the general partner of Steel Holdings, the managing member of SPHG and the manager of SPHG Holdings. Steel Excel is a majority owned subsidiary of SPHG Holdings. Steel Connect is an indirect subsidiary of Steel Excel. Steel Connect Sub is a wholly owned subsidiary of Steel Connect. Each of Steel Holdings, SPHG, SPHG Holdings, Steel Holdings GP, Steel Excel and Steel Connect may be deemed to beneficially own the Shares owned directly by Steel Connect Sub.
Key Figures
Total shares purchased: 14,244 shares
Purchase price (Apr 17, 2026): $4.0327 per share
Purchase price (Apr 16, 2026): $4.10 per share
+3 more
6 metrics
Total shares purchased
14,244 shares
Open-market buys across three trades
Purchase price (Apr 17, 2026)
$4.0327 per share
3,640 shares of common stock
Purchase price (Apr 16, 2026)
$4.10 per share
141 shares of common stock
Purchase price (Apr 15, 2026)
$4.0947 per share
10,463 shares of common stock
Indirect holdings after trades
3,405,045 shares
Shares held by Steel Connect Sub LLC after latest purchase
Net transaction direction
Net buy of 14,244 shares
Three open-market purchase transactions, no sales reported
Key Terms
open-market purchase, Section 13(d) group, beneficial ownership, pecuniary interest, +2 more
6 terms
open-market purchase financial
"transaction_action: "open-market purchase" for each common stock trade"
An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.
Section 13(d) group regulatory
"may be deemed to be a member of a Section 13(d) group"
beneficial ownership regulatory
"Each of the Reporting Persons disclaims beneficial ownership of the securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership ... except to the extent of its pecuniary interest"
indirect subsidiary financial
"Steel Connect is an indirect subsidiary of Steel Excel"
wholly owned subsidiary financial
"Steel Connect Sub is a wholly owned subsidiary of Steel Connect"
A wholly owned subsidiary is a company whose entire ownership is held by another company (the parent), so the parent controls decisions, operations, and finances. Think of it as a fully controlled branch that runs as its own legal entity but whose results flow straight into the parent’s financial statements; investors watch these structures because they affect consolidated revenue, risk exposure, and how profits, liabilities, and cash flow are allocated across the corporate group.
FAQ
What insider activity did SPRU report for Steel Partners entities?
Spruce Power reported that Steel Connect Sub LLC, an affiliate in the Steel Partners structure, made open-market purchases of 14,244 common shares. These buys occurred over three days at prices slightly above $4 per share.
What is the resulting Spruce Power (SPRU) position after these insider buys?
Following the reported transactions, Steel Connect Sub LLC held 3,405,045 Spruce Power common shares indirectly. This figure reflects the updated ownership position after the latest round of open-market purchases disclosed in the Form 4 filing.
Were the SPRU insider transactions open-market purchases or another type?
All reported transactions are classified as open-market purchases, coded “P” on Form 4. This indicates the shares were bought in the market or similar private transactions, rather than through option exercises, gifts, or tax-withholding events.