Steel Excel Inc. 4
4 · SPRUCE POWER HOLDING CORP · Filed Mar 23, 2026
Research Summary
AI-generated summary of this filing
Spruce Power (SPRU) 10% Owner Steel Partners Buys Shares
What Happened
Steel Partners Holdings L.P., part of a group that owns more than 10% of Spruce Power Holding Corp (SPRU), made open-market purchases of SPRU stock. The reporting group bought 13,739 shares at $3.74 on 2026-03-19 ($51,369) and 46,682 shares at $4.32 on 2026-03-20 ($201,606), for a total of 60,421 shares costing approximately $252,975 (avg. price ≈ $4.19). These were purchases (potentially interpreted as a bullish signal) rather than sales.
Key Details
- Transactions: Purchases (code P) on 2026-03-19 and 2026-03-20.
- 3/19/2026: 13,739 shares @ $3.74 = $51,369
- 3/20/2026: 46,682 shares @ $4.32 = $201,606
- Total purchased: 60,421 shares for ~$252,975 (avg ~ $4.19/share).
- Shares owned after transaction: Not specified in the provided filing details.
- Filing timeliness: Form 4 filed 2026-03-23 — within the required two business days of the transactions (timely).
- Notable footnotes:
- F1/F2 indicate the Form 4 is filed jointly by a group of affiliated entities (Steel Partners Holdings L.P., related GP and subsidiary entities). The group may be deemed a Section 13(d) holder owning >10% of SPRU; each entity disclaims beneficial ownership except for pecuniary interest.
- Purchases are reported as owned directly by Steel Connect Sub (an indirect subsidiary) with other entities potentially deemed to beneficially own those shares.
Context
This filing reflects institutional-level purchases by a 10% owner (a reporting group of affiliated entities), not a company executive. Institutional buys can be informative to investors but don’t by themselves explain the buyer’s motive. The transactions were open-market/private purchases (P) and the filing appears timely.
Insider Transaction Report
- Purchase
Common Stock, par value $0.0001 per share
[F1][F2]2026-03-19$3.74/sh+13,739$51,369→ 3,273,445 total(indirect: By LLC) - Purchase
Common Stock, par value $0.0001 per share
[F1][F2]2026-03-20$4.32/sh+46,682$201,606→ 3,320,127 total(indirect: By LLC)
Footnotes (2)
- [F1]This Form 4 is filed jointly by Steel Partners Holdings L.P ("Steel Holdings"), Steel Partners Holdings GP Inc. ("Steel Holdings GP"), SPH Group LLC ("SPHG"), SPH Group Holdings LLC ("SPHG Holdings"), Steel Excel Inc. ("Steel Excel"), Steel Connect LLC ("Steel Connect") and Steel Connect Sub LLC ("Steel Connect Sub") (collectively, the "Reporting Persons"). Each of 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. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein.
- [F2]Represents securities owned directly by Steel Connect Sub. Steel Holdings owns a majority of the membership interests of SPHG. SPHG is the sole member of SPHG Holdings. Steel Holdings GP is the general partner of Steel Holdings, the managing member of SPHG and the manager of SPHG Holdings. Steel Excel is a majority owned subsidiary of SPHG Holdings. Steel Connect is an indirect subsidiary of Steel Excel. Steel Connect Sub is a wholly owned subsidiary of Steel Connect. Each of Steel Holdings, SPHG, SPHG Holdings, Steel Holdings GP, Steel Excel and Steel Connect may be deemed to beneficially own the Shares owned directly by Steel Connect Sub.