SPLP

WebBank, a Steel Partners Company, Honored as One of the Best Places to Work in 2024, a Glassdoor Employees’ Choice Award Winner

Retrieved on: 
Thursday, January 25, 2024
Banking, Software, Professional Services, Internet, Fintech, Apps, Applications, Technology, Small Business, Asset Management, DEI (Diversity, Equity and Inclusion), Other Professional Services, Human Resources, Finance, Glassdoor, SPLP

WebBank, a wholly owned subsidiary of Steel Partners Holdings (NYSE: SPLP), has been named a winner of Glassdoor’s 16th annual Employees’ Choice Awards, honoring the Best Places to Work 2024 .

Key Points: 
  • WebBank, a wholly owned subsidiary of Steel Partners Holdings (NYSE: SPLP), has been named a winner of Glassdoor’s 16th annual Employees’ Choice Awards, honoring the Best Places to Work 2024 .
  • This is the second year in a row WebBank has been named a winner, and this year, it is ranked second on the list of 50 small to medium sized businesses that received this distinction.
  • Unlike other workplace awards, the Glassdoor Employees’ Choice Awards are based on the input of employees who voluntarily provide anonymous feedback on Glassdoor by completing a company review

Steel Partners Holdings L.P. Abandons Reverse/Forward Unit Split

Retrieved on: 
Wednesday, January 10, 2024
Banking, Asset Management, Professional Services, Finance, Partnership, SPLP, Unit, Common

Steel Partners Holdings L.P. (NYSE: SPLP), a Delaware limited partnership (the “Company” or “Steel Partners”), announced today that it will abandon its previously announced 1-for-12,500 reverse unit split (“Reverse Unit Split”) of its common units, no par value (the “Company Common Units”), followed immediately by a 12,500-for-1 forward unit split of the Company Common Units (the “Forward Unit Split,” and, together with the Reverse Unit Split, the “Reverse/Forward Unit Split”).

Key Points: 
  • Steel Partners Holdings L.P. (NYSE: SPLP), a Delaware limited partnership (the “Company” or “Steel Partners”), announced today that it will abandon its previously announced 1-for-12,500 reverse unit split (“Reverse Unit Split”) of its common units, no par value (the “Company Common Units”), followed immediately by a 12,500-for-1 forward unit split of the Company Common Units (the “Forward Unit Split,” and, together with the Reverse Unit Split, the “Reverse/Forward Unit Split”).
  • The Reverse/Forward Unit Split was previously extended on January 8, 2024 and was expected to become effective on January 11, 2024.

Steel Partners Holdings L.P. Announces Extension of Effective Date for Reverse/Forward Unit Split

Retrieved on: 
Monday, January 8, 2024
Banking, Professional Services, Finance, 8-K, Partnership, Trust, Effective date, SPLP, Common, Unit

Steel Partners Holdings L.P. (NYSE: SPLP), a Delaware limited partnership (the “Company” or “Steel Partners”), announced today that it will extend the effective date of its previously announced 1-for-12,500 reverse unit split (“Reverse Unit Split”) of its common units, no par value (the “Company Common Units”), followed immediately by a 12,500-for-1 forward unit split of the Company Common Units (the “Forward Unit Split,” and, together with the Reverse Unit Split, the “Reverse/Forward Unit Split”).

Key Points: 
  • Steel Partners Holdings L.P. (NYSE: SPLP), a Delaware limited partnership (the “Company” or “Steel Partners”), announced today that it will extend the effective date of its previously announced 1-for-12,500 reverse unit split (“Reverse Unit Split”) of its common units, no par value (the “Company Common Units”), followed immediately by a 12,500-for-1 forward unit split of the Company Common Units (the “Forward Unit Split,” and, together with the Reverse Unit Split, the “Reverse/Forward Unit Split”).
  • The Reverse Unit Split is now expected to become effective as of 5:00 p.m. Eastern Time on January 11, 2024, and immediately thereafter, the Forward Unit Split is expected to become effective as of 5:01 p.m. Eastern Time on January 11, 2024 (as it may be further extended, the “Effective Date”).
  • The Company reserves the right to abandon, modify or extend the Reverse/Forward Unit Split at any time prior to the Effective Date.
  • Certain holders of the Company’s Common Units who are employees will have their Company Common Units excluded from the Reverse/Forward Unit Split.

Steel Partners Holdings L.P. Announces Reverse/Forward Unit Split

Retrieved on: 
Thursday, December 14, 2023
Banking, Asset Management, Professional Services, Finance, New York Stock Exchange, NYSE, 8-K, CUSIP, Trust, Unit, SPLP, Effective date, Partnership, Common, Security (finance)

Steel Partners Holdings L.P. (NYSE: SPLP), a Delaware limited partnership (the “Company” or “Steel Partners”), announced today that it will effect a 1-for-12,500 reverse unit split (“Reverse Unit Split”) of its common units, no par value (the “Company Common Units”), followed immediately by a 12,500-for-1 forward unit split of the Company Common Units (the “Forward Unit Split,” and, together with the Reverse Unit Split, the “Reverse/Forward Unit Split”).

Key Points: 
  • Steel Partners Holdings L.P. (NYSE: SPLP), a Delaware limited partnership (the “Company” or “Steel Partners”), announced today that it will effect a 1-for-12,500 reverse unit split (“Reverse Unit Split”) of its common units, no par value (the “Company Common Units”), followed immediately by a 12,500-for-1 forward unit split of the Company Common Units (the “Forward Unit Split,” and, together with the Reverse Unit Split, the “Reverse/Forward Unit Split”).
  • The Company Common Units will be assigned a new CUSIP number following the Reverse/Forward Unit Split.
  • Certain holders of the Company’s Common Units who are employees will have their Company Common Units excluded from the Reverse/Forward Unit Split.
  • Unitholders owning Common Units via a broker, bank, trust or other nominee will have their positions automatically adjusted to reflect the Reverse/Forward Unit Split, subject to such broker’s particular processes, and will not be required to take any action in connection with the Reverse/Forward Unit Split.

Steel Connect Reports Fourth Quarter Fiscal 2023 Financial Results

Retrieved on: 
Wednesday, November 8, 2023
Supply Chain Management, Retail, Sale, SPLP, Supply chain, EBITDA, Corporation, Convertible, Steel Connect, Umpqua Holdings Corporation, Supply, Senior debt, Income tax, Capital expenditure, Electronics, Aerojet, Exchange, Capital, Video game, Cryptocurrency, Pharmaceutical industry, Airline, Life insurance

Fluctuations in foreign currency exchange rates had an insignificant impact on SG&A expenses for the fiscal year ended July 31, 2023, as compared to the prior fiscal year.

Key Points: 
  • Fluctuations in foreign currency exchange rates had an insignificant impact on SG&A expenses for the fiscal year ended July 31, 2023, as compared to the prior fiscal year.
  • The Exchange Transaction closed on May 1, 2023, and as such, there was no activity for the fourth quarter or fiscal year ended July 31, 2022.
  • Total interest expense for the fiscal year ended July 31, 2023 remained relatively flat compared to the fiscal year ended July 31, 2022.
  • Other gains, net for the fiscal year ended July 31, 2023 and the fiscal year ended July 31, 2022 were $11.3 million and $4.1 million, respectively.

Steel Partners Holdings Announces Ryan O’Herrin Named Chief Financial Officer

Retrieved on: 
Monday, August 7, 2023
Banking, Sports, Supply Chain Management, Other Defense, Other Energy, Professional Services, General Sports, Energy, Defense, Retail, Transport, Finance, Logistics, Genus plc, Advanced Management Program, Certified Management Accountant, SPLP, University, Eastman, MBA, Multimedia, Certified Public Accountant, University of Wisconsin–Madison School of Education, Harvard Business School, Computer science, NYSE, Management

Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company, today announced the appointment of Ryan O’Herrin as Chief Financial Officer.

Key Points: 
  • Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company, today announced the appointment of Ryan O’Herrin as Chief Financial Officer.
  • View the full release here: https://www.businesswire.com/news/home/20230807179891/en/
    O’Herrin is an established financial leader with over 20 years of successful achievements across multiple industries.
  • Current Chief Financial Officer for Steel Partners, Jason Wong, has resigned from his position with the Company to pursue other opportunities.
  • “Jason has exceptional intellect and has successfully led the finance team at Steel Partners.

Steel Partners Holdings Announces Joseph Martin Named Chief Administrative Officer & Chief Legal Officer and Maria Reda Named General Counsel

Retrieved on: 
Thursday, June 8, 2023
Other Defense, Finance, Other Energy, Banking, Professional Services, Business, Energy, Supply Chain Management, Retail, Defense, Growth, SPLP, Steel, General counsel, Multimedia, NYSE, Strategic planning, Management

Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company, today announced the appointment of Joseph Martin as Chief Administrative Officer and Chief Legal Officer and Maria Reda as General Counsel.

Key Points: 
  • Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company, today announced the appointment of Joseph Martin as Chief Administrative Officer and Chief Legal Officer and Maria Reda as General Counsel.
  • View the full release here: https://www.businesswire.com/news/home/20230608005739/en/
    Joe Martin Named Chief Administrative Officer (Photo: Business Wire)
    In his role as Chief Administrative Officer, Mr. Martin will provide expert guidance and strategic direction to the executive team.
  • Maria Reda has served as interim General Counsel for the past year playing a critical role in the company's legal operations.
  • "We are delighted to welcome Joe Martin back to Steel Partners as our Chief Administrative Officer and Chief Legal Officer, and to announce Maria Reda as our General Counsel," said Executive Chairman Warren Lichtenstein.

Steel Partners and Steel Connect Close Exchange Transaction

Retrieved on: 
Monday, May 1, 2023
Supply Chain Management, Retail, Other Energy, Manufacturing, Energy, Other Manufacturing, LLP, Steel Connect, SPLP, Imperial Capital, Strategic planning, Partner, White & Case, Preferred stock, Sale, Transaction, STCN, Steel, White, NYSE, Security (finance)

Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company (“Steel Partners”) and Steel Connect, Inc. (NASDAQ: STCN) (“Steel Connect”) today announced that Steel Partners and certain of its affiliates (the “Steel Partners Group”) have transferred certain marketable securities held by the Steel Partners Group to Steel Connect in exchange for 3.5 million shares of Series E Convertible Preferred Stock of Steel Connect (the “Preferred Stock”, and, such transfer and related transactions, the “Transaction”).

Key Points: 
  • Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company (“Steel Partners”) and Steel Connect, Inc. (NASDAQ: STCN) (“Steel Connect”) today announced that Steel Partners and certain of its affiliates (the “Steel Partners Group”) have transferred certain marketable securities held by the Steel Partners Group to Steel Connect in exchange for 3.5 million shares of Series E Convertible Preferred Stock of Steel Connect (the “Preferred Stock”, and, such transfer and related transactions, the “Transaction”).
  • Upon approval by the Steel Connect stockholders pursuant to NASDAQ Marketplace Rules, the Preferred Stock will be convertible into an aggregate of 184,891,318 shares of Steel Connect common stock, and will vote together with the Steel Connect common stock and participate in any dividends paid on the Steel Connect common stock, in each case on an as-converted basis.
  • Upon conversion of the Preferred Stock, the Steel Partners Group would hold approximately 85.12% of the outstanding equity interests of Steel Connect.
  • Steel Connect and Steel Partners also entered into a Stockholders’ Agreement on April 30, 2023 that includes, among other things, provisions relating to certain governance and voting matters following the closing of the Transaction.

Steel Partners and Steel Connect Close Exchange Transaction

Retrieved on: 
Monday, May 1, 2023
Other Manufacturing, Steel, Finance, Other Energy, Transport, Professional Services, Manufacturing, Energy, Logistics, Supply Chain Management, LLP, Steel Connect, SPLP, Imperial Capital, Strategic planning, Partner, White & Case, Preferred stock, Sale, Transaction, STCN, White, NYSE, Security (finance)

Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company (“Steel Partners”) and Steel Connect, Inc. (NASDAQ: STCN) (“Steel Connect”) today announced that Steel Partners and certain of its affiliates (the “Steel Partners Group”) have transferred certain marketable securities held by the Steel Partners Group to Steel Connect in exchange for 3.5 million shares of Series E Convertible Preferred Stock of Steel Connect (the “Preferred Stock”, and, such transfer and related transactions, the “Transaction”).

Key Points: 
  • Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company (“Steel Partners”) and Steel Connect, Inc. (NASDAQ: STCN) (“Steel Connect”) today announced that Steel Partners and certain of its affiliates (the “Steel Partners Group”) have transferred certain marketable securities held by the Steel Partners Group to Steel Connect in exchange for 3.5 million shares of Series E Convertible Preferred Stock of Steel Connect (the “Preferred Stock”, and, such transfer and related transactions, the “Transaction”).
  • Upon approval by the Steel Connect stockholders pursuant to NASDAQ Marketplace Rules, the Preferred Stock will be convertible into an aggregate of 184,891,318 shares of Steel Connect common stock, and will vote together with the Steel Connect common stock and participate in any dividends paid on the Steel Connect common stock, in each case on an as-converted basis.
  • Upon conversion of the Preferred Stock, the Steel Partners Group would hold approximately 85.12% of the outstanding equity interests of Steel Connect.
  • Steel Connect and Steel Partners also entered into a Stockholders’ Agreement on April 30, 2023 that includes, among other things, provisions relating to certain governance and voting matters following the closing of the Transaction.

Steel Partners Holdings Releases Annual Letter from Executive Chairman Warren Lichtenstein

Retrieved on: 
Thursday, March 9, 2023
Other Defense, Finance, Other Energy, Transport, Professional Services, Energy, Logistics, Supply Chain Management, Retail, Defense, SPLP, Philosophy, NYSE, Letter, Executive, Cryptocurrency, Management

Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company, today released its annual letter from the Company's Executive Chairman, Warren Lichtenstein.

Key Points: 
  • Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company, today released its annual letter from the Company's Executive Chairman, Warren Lichtenstein.
  • The letter can be accessed at https://ir.steelpartners.com/static-files/b12fc416-2410-430f-9b54-f29fd8... .
  • The annual letter includes reviews of the Company's 2022 financial results, provides highlights and updates from the Company's holdings, and discusses the philosophy and strategy going forward.