Form 4: Steel Partners Holdings L.P. Increases Stake in Steel Connect, Inc.

Steel Partners Holdings L.P. and related entities report increased beneficial ownership of Steel Connect, Inc. common stock through open market purchases.

Summary

• Steel Partners Holdings L.P., along with affiliated entities, filed a Form 4 disclosing changes in beneficial ownership of Steel Connect, Inc. common stock.
• On April 10, 2024, Steel Excel Inc. acquired 18,605 shares at $8.9314 per share.
• On April 11, 2024, Steel Excel Inc. acquired 23,698 shares at $9.4428 per share.
• On April 12, 2024, Steel Excel Inc. acquired 6 shares at $9.35 per share.
• Following these transactions, Steel Excel Inc. directly owns 111,851 shares.
• WF Asset Corp. directly owns 1,311,700 shares.
• WHX CS LLC directly owns 636,447 shares.
• The reporting persons may be deemed to be a member of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding shares of Common Stock.
• The filing also clarifies the relationships between Steel Partners Holdings L.P. and its subsidiaries, including Steel Excel Inc., WF Asset Corp., and WHX CS LLC, and their indirect beneficial ownership of Steel Connect shares.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing indicating changes in ownership. The increased stake could be interpreted positively, but without further context, it's difficult to gauge the overall impact.

Positives

• Increased investment by Steel Partners Holdings L.P. and related entities may signal confidence in Steel Connect, Inc.'s future prospects.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders change their ownership positions in a publicly traded company.

Stakeholder Impact

• The increased stake by Steel Partners Holdings L.P. could potentially increase shareholder confidence.

Key Dates