Steel Connect, Inc. STCN

https://newsfilter.io/a/69057eda52df36f61fe657567b58284e

Ahead of Steel Connect’s (STCN) virtual Annual Meeting tomorrow, Monday, July 26 at 11:55am, we sent a letter to the Board of Directors to share our views on ways to constructively maximize value for all shareholders. As we have previously shared in detail, we believe Steel Connect is worth at least $6.00 per share, with a range of strategic alternatives. We strongly encouraged the Board & Special Committee to expand the scope of Steel Connect’s strategic review to evaluate all alternatives including the sale of one or both of Steel Connect’s businesses (IWCO Direct & ModusLink) and the separate monetization of the company’s valuable $2.1 billion in tax assets (NOLs), to unlock value at Steel Connect. We look forward to hearing from the Board and Special Committee about their progress on maximizing value for all shareholders.

Proxy – https://www.sec.gov/Archives/edgar/data/914712/000121390021032531/def14a0621_steelconnect.htm

If you are a shareholder, join us Monday at 1155 am (using control number on your proxy) - www.virtualshareholdermeeting.com/STCN2020

$STCN Large Buyers This Week (~10-15 days volume):

• 520K shares short-cover from options that Friday
• Russell Microcap Indices buying ~500K shares as Steel Connect being added Fri, June 25. $IWC

$STCN Large Buyers This Week (~10-15 days volume):

• 520K shares short-cover from options that expired Friday
• Russell Microcap Indices buying ~500K shares as Steel Connect being added Fri, June 25. $IWC

https://www.nashvillepost.com/business/area-stocks/article/21146274/catalysts-loom-for-steel-connect-shares

Catalysts loom for Steel Connect shares -
ModusLink parent is object of interest to majority shareholder

That’s target date. Look for SPLP to report first and then STCN. STCN, their special committee of board and bankers should update on response to proposal for SPLP to buy 100% of STCN. Big shareholders unlikely to accept anything under $3.00-4.00.

See our update comments at: $STCN

Steel Connect - Activist, Catalyst And NOL-Rich Small Cap At 54% FCF Yield, Worth $6.00+/Share

https://seekingalpha.com/article/4404622-steel-connect-activist-catalyst-nol-rich-small-cap-at-54-percent-fcf-yield

Over 30 days above $1.00 per share today which means NASDAQ up-listing. $STCN

Week 7 of strategic review by Houlihan. $STCN

Steel Connect - Activist, Catalyst And NOL-Rich Small Cap At 54% FCF Yield, Worth $6.00+/Share

https://seekingalpha.com/article/4404622-steel-connect-activist-catalyst-nol-rich-small-cap-at-54-percent-fcf-yield