Steel Partners (SPRU) affiliate adds 19,532 Spruce Power shares in open-market buys
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Steel Connect Sub LLC, an affiliate of Steel Partners Holdings, reported open-market purchases of Spruce Power Holding Corp. common stock. The entity bought 19,532 shares at prices around $4.00 per share, bringing its indirectly held position to 3,381,099 shares. The filing notes all reporting entities collectively may be part of a Section 13(d) group owning over 10% of Spruce Power’s outstanding common stock and each disclaims beneficial ownership beyond its economic interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 19,532 shares ($77,900)
Net Buy
2 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
19,532 shs ($78K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock, par value $0.0001 per share | 14,532 | $3.9843 | $58K |
| Purchase | Common Stock, par value $0.0001 per share | 5,000 | $4.00 | $20K |
Holdings After Transaction:
Common Stock, par value $0.0001 per share — 3,381,099 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
Open-market purchase 1: 5,000 shares at $4.0000
Open-market purchase 2: 14,532 shares at $3.9843
Total shares bought: 19,532 shares
+2 more
5 metrics
Open-market purchase 1
5,000 shares at $4.0000
Common stock bought on 2026-04-07
Open-market purchase 2
14,532 shares at $3.9843
Common stock bought on 2026-04-09
Total shares bought
19,532 shares
Net open-market purchases in this Form 4
Holdings after transactions
3,381,099 shares
Indirectly held by Steel Connect Sub LLC after latest buy
Net buy-sell direction
net-buy of 19,532 shares
Summary of reported non-derivative transactions
Key Terms
Section 13(d) group, beneficial ownership, pecuniary interest, indirect subsidiary, +1 more
5 terms
Section 13(d) group regulatory
"may be deemed to be a member of a Section 13(d) group that collectively owns more than 10%"
beneficial ownership financial
"Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein"
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 of the securities reported herein, except to the extent of its pecuniary interest therein"
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 transaction did Steel Partners entities report in SPRU stock?
The filing shows an affiliate, Steel Connect Sub LLC, purchased 19,532 Spruce Power shares in the open market at prices around $4.00 per share, increasing its indirectly held position to 3,381,099 common shares.
Why are multiple Steel Partners entities listed as reporting persons for SPRU?
Several related entities, including Steel Partners Holdings L.P. and its subsidiaries, are listed due to their layered ownership of Steel Connect Sub LLC. Footnotes explain that each may be deemed to beneficially own the shares through the structure.