Form 4: Steel Partners Holdings Boosts SPRUCE POWER Stake

Steel Partners Holdings L.P. and its affiliates increased their beneficial ownership in Spruce Power Holding Corp. through a series of open market purchases in November 2025.

Summary

• Steel Partners Holdings L.P., along with its affiliated entities, reported a series of open market purchases of Spruce Power Holding Corp. common stock.
• The reporting persons, including Steel Partners Holdings GP Inc., SPH Group LLC, SPH Group Holdings LLC, Steel Excel Inc., and Steel Connect LLC, are identified as a Director and 10% Owner of Spruce Power Holding Corp.
• A total of 1,147,551 shares of common stock were acquired across four separate transactions between November 11, 2025, and November 14, 2025.
• The purchases were made at prices ranging from $3.037 to $4.9997 per share.
• Following these transactions, the reporting persons beneficially own a total of 2,587,503 shares of Spruce Power Holding Corp. common stock.
• The shares are indirectly owned by Steel Connect Sub LLC, a wholly-owned subsidiary within the Steel Partners Holdings structure.

Sentiment

Score: 8

Explanation: The sentiment is positive due to significant insider buying by a 10% owner and director group, indicating strong confidence in the company's valuation or future prospects.

Positives

• Significant insider buying by a 10% owner and director group, which can signal confidence in the company's future prospects.
• The accumulation of over 1.1 million shares by a major stakeholder demonstrates a strong commitment to the company.

Future Outlook

This Form 4 filing reports past transactions and does not contain explicit forward-looking statements or guidance from the issuer or the reporting persons regarding future performance or strategy.

Industry Context

This filing reflects an increase in ownership by a significant institutional investor and director group in Spruce Power Holding Corp., a company operating in the power sector. Such insider activity can be a signal of perceived value or strategic interest within the industry, though the specific motivations are not detailed in this filing.

Related Party Transactions

• Steel Partners Holdings L.P. and its affiliates, identified as a 10% owner and director of Spruce Power Holding Corp., engaged in open market purchases of the company's common stock. These transactions are considered related party dealings due to the reporting persons' significant influence and board representation.

Stakeholder Impact

• Shareholders may view the increased insider ownership as a positive signal, potentially boosting investor confidence and perception of the company's value.
• The transactions could influence market sentiment and trading activity for Spruce Power Holding Corp. stock.

Key Dates

Keywords

Spruce Power Holding Corp, SPRU, Steel Partners Holdings, Insider Buying, Beneficial Ownership, Form 4, Equity Purchase, 10% Owner, Director