Steel Connect, INC
Market Movers (8-K)
Steel Connect, Inc. has completed a short-form merger with a subsidiary of Steel Partners, resulting in shareholders receiving cash and contingent value rights related to a litigation settlement.
Steel Connect has reached a settlement in a class and derivative action, resulting in a special dividend for shareholders and a potential merger with a Steel Partners subsidiary.
Steel Connect's first quarter fiscal 2025 results show a significant increase in revenue and adjusted EBITDA compared to the same period last year, despite a decrease in net income.
Better than expected
Steel Connect will be acquired by Steel Partners in a short-form merger, with minority shareholders receiving $11.45 per share in cash and a contingent value right (CVR) related to potential litigation proceeds.
Steel Connect, Inc. announced its fourth quarter and fiscal year 2024 results, highlighting a significant increase in net income due to a tax benefit, despite a decrease in annual revenue.
Better than expected
Steel Connect has agreed to a $6 million settlement in a shareholder class action lawsuit, which will result in a distribution to shareholders and the implementation of corporate governance reforms.
Quarterly Earnings (10-Q)
Steel Connect, Inc. reported a significant increase in net revenue and gross profit for the quarter ended October 31, 2024, driven by strong performance in its supply chain segment.
Worse than expected
Steel Connect's Q3 2024 results show a significant net income increase due to a one-time tax benefit, despite a decrease in revenue.
Better than expected
Steel Connect's latest 10-Q filing reveals a decrease in revenue but a significant improvement in net income, driven by investment gains and reduced interest expenses.
Better than expected
Annual Reports (10-K)
Steel Connect, Inc. has filed an amendment to its annual report on Form 10-K to include previously omitted information regarding directors, executive compensation, and related matters, along with required certifications.
10-K: Steel Connect, Inc. Reports Fiscal Year 2024 Results, Highlights Tax Benefit and Strategic Shifts
Steel Connect, Inc. reports a significant increase in net income for fiscal year 2024, driven by a substantial tax benefit, while navigating revenue decreases and strategic changes.
Better than expected
Insider Trading (Form 4)
Steel Partners Holdings L.P. acquired 24,335 additional shares of Spruce Power Holding Corp at an average price of $4.1264.
Steel Partners Holdings L.P. reported the acquisition of 14,244 additional shares of Spruce Power Holding Corp through its subsidiary, Steel Connect Sub LLC.
Steel Partners Holdings L.P. and affiliated entities have reported multiple transactions involving the acquisition of Spruce Power Holding Corp. common stock.
Steel Partners Holdings L.P. and its affiliates have reported transactions involving Spruce Power Holding Corp. common stock, increasing their beneficial ownership.
Steel Partners Holdings L.P. and its affiliates have reported transactions involving Spruce Power Holding Corp. common stock, increasing their beneficial ownership.
Steel Partners Holdings L.P., a 10% owner of Spruce Power Holding Corp, increased its stake through multiple common stock purchases in late March 2026.
Better than expected
Institutional Holdings (13F)
Steel Connect LLC filed a Form 13F-NT notice indicating that its investment holdings are reported by its parent entity, Steel Partners Holdings L.P.
Steel Connect LLC filed a 13F-NT notice for the quarter ended December 31, 2025, indicating its holdings are reported by an affiliate.
Steel Connect, Inc. has filed a 13F notice indicating that it does not directly hold any reportable securities, with all holdings reported by other managers.
Schedule 13D - Activist Investments
Steel Partners Holdings L.P. and its affiliates have reduced their beneficial ownership in DMC Global Inc. to 5.8% through recent share sales.
Worse than expected
Steel Partners Holdings L.P. and its affiliates have reduced their beneficial ownership in DMC Global Inc. to 7.3% through recent open market sales.
Worse than expected
SCHEDULE: Steel Partners Reduces DMC Global Stake
Steel Partners Holdings and its affiliates have reduced their beneficial ownership in DMC Global Inc. to 8.4% through recent open market sales.
Worse than expected