Steel Excel Inc. 4
4 · SPRUCE POWER HOLDING CORP · Filed Apr 2, 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. (a reported >10% owner) made two purchases of Spruce Power Holding Corp. (SPRU) common stock: 11,228 shares on 2026-03-31 at $4.03 ($45,207) and 1,409 shares on 2026-04-02 at $4.05 ($5,706), for a combined total of 12,637 shares and ~$50,913. These were purchases (transaction code P), which are often viewed as a bullish signal but do not by themselves indicate motivation.
Key Details
- Transaction dates and prices:
- 2026-03-31: 11,228 shares @ $4.03 = $45,207
- 2026-04-02: 1,409 shares @ $4.05 = $5,706
- Shares owned after transaction: Not specified in the provided excerpt (the filing notes the Reporting Persons together constitute a Section 13(d) group owning more than 10%).
- Filing: Form 4 filed 2026-04-02 for the period ending 2026-03-31 — appears timely (Form 4s are generally due within two business days of the transaction).
- Notable footnotes:
- The Form 4 is filed jointly by several related entities (Steel Partners Holdings L.P.; Steel Partners Holdings GP Inc.; SPH Group LLC; SPH Group Holdings LLC; Steel Excel Inc.; Steel Connect LLC; and Steel Connect Sub LLC). Each disclaims beneficial ownership except to the extent of pecuniary interest.
- The reported shares are owned directly by Steel Connect Sub; through ownership chains the other Reporting Persons may be deemed to beneficially own those shares.
Context
- These were direct purchases (code P) — not option exercises, gifts, or awards. As a 10% institutional owner, this activity reflects buying by an affiliated investment group rather than an individual company executive.
Insider Transaction Report
Form 4
STEEL PARTNERS HOLDINGS L.P.
10% Owner
Transactions
- Purchase
Common Stock, par value $0.0001 per share
[F1][F2]2026-03-31$4.03/sh+11,228$45,207→ 3,360,158 total(indirect: By LLC) - Purchase
Common Stock, par value $0.0001 per share
[F1][F2]2026-04-02$4.05/sh+1,409$5,706→ 3,361,567 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.