Form 4: Spruce Power Sees Insider Buying by Steel Partners Holdings

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.

Summary

• Steel Partners Holdings L.P. and its affiliated entities, collectively a 10% owner of Spruce Power Holding Corp (SPRU), acquired additional shares of common stock.
• On March 26, 2026, 2,857 shares were purchased at a price of $3.9993 per share.
• On March 27, 2026, 5,391 shares were purchased at a price of $3.9827 per share.
• On March 30, 2026, 20,555 shares were purchased at a price of $3.9962 per share.
• Following these transactions, the reporting persons beneficially own a total of 3,348,930 shares of Spruce Power Holding Corp common stock.
• The shares are owned indirectly by Steel Connect Sub LLC, a wholly-owned subsidiary within the Steel Partners Holdings structure.

Sentiment

Score: 8

Explanation: StockSavvy.ai views this as a strong positive signal. Consistent buying by a 10% owner suggests a high level of conviction in the company's value and future performance.

Positives

• A significant 10% owner, Steel Partners Holdings L.P., has increased its beneficial ownership in Spruce Power Holding Corp, signaling confidence in the company's future prospects.
• The purchases were made at consistent price points around $3.98-$4.00 per share, indicating a sustained belief in the stock's value at these levels.

Industry Context

StockSavvy.ai notes that insider buying, particularly by a significant 10% owner, often indicates that those with the most intimate knowledge of a company believe its shares are undervalued or expect positive developments. This activity can be a stronger signal than purchases by individual executives, as it represents a larger, institutional commitment.

Related Party Transactions

• Steel Partners Holdings L.P. and its affiliates, as a 10% owner and potentially directors, are considered related parties. The reported transactions represent their increased investment in Spruce Power Holding Corp.

Stakeholder Impact

• Shareholders may view this as a positive indicator of management and significant investor confidence, potentially leading to increased investor interest and a positive impact on share price.

Key Dates

Recommendation

The consistent and significant buying activity by a 10% owner, Steel Partners Holdings L.P., signals strong insider confidence in Spruce Power Holding Corp's valuation and future prospects. Such actions by a well-informed entity often precede positive developments or indicate a belief that the stock is currently undervalued, making it an attractive 'buy' signal for seasoned investors.

Keywords

Spruce Power Holding Corp, SPRU, Steel Partners Holdings, Insider Buying, Beneficial Ownership, Stock Purchase, Form 4, Equity Investment