Form 4: Steel Partners Boosts Spruce Power Stake

Steel Partners Holdings L.P. and its affiliates reported significant purchases of Spruce Power Holding Corp. common stock in December 2025, increasing their beneficial ownership.

Summary

• Steel Partners Holdings L.P. and its affiliated entities, including Steel Connect Sub LLC, acquired additional shares of Spruce Power Holding Corp. common stock.
• On December 11, 2025, 12,233 shares were purchased at a price of $5.1 per share.
• On December 15, 2025, an additional 26,197 shares were purchased at a price of $5.0457 per share.
• Following these transactions, the reporting persons beneficially own a total of 3,079,314 shares of Spruce Power Holding Corp. common stock.
• The shares are indirectly owned by Steel Connect Sub LLC, which is part of a complex ownership structure ultimately controlled by Steel Partners Holdings L.P.
• The reporting persons are identified as both a Director and a 10% Owner of Spruce Power Holding Corp.

Sentiment

Score: 8

Explanation: The sentiment is positive due to significant insider buying by a major shareholder and director, indicating strong confidence in the company's value and future performance.

Positives

• Significant insider buying by a 10% owner and director group signals strong confidence in the company's future prospects.
• The continued accumulation of shares by Steel Partners Holdings L.P. and its affiliates demonstrates a long-term commitment to Spruce Power Holding Corp.

Related Party Transactions

• Steel Partners Holdings L.P. and its affiliated entities, identified as a 10% owner and director of Spruce Power Holding Corp., purchased 12,233 shares of common stock at $5.1 on December 11, 2025.
• An additional 26,197 shares were purchased at $5.0457 on December 15, 2025, by the same related party group.

Stakeholder Impact

• Shareholders may view the increased insider ownership as a positive signal, potentially boosting investor confidence and demand for the stock.
• The transactions reinforce the commitment of a significant institutional investor and director to the company's long-term success.

Key Dates

Recommendation

The significant and continued purchases of common stock by Steel Partners Holdings L.P., a 10% owner and director, represent a strong vote of confidence in Spruce Power Holding Corp. Insider buying at this level often signals that those with the deepest understanding of the company believe its shares are undervalued or expect positive future developments. This action provides a compelling reason for investors to consider a 'buy' position, aligning with the interests of a major stakeholder.

Keywords

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