Steel Partners Holdings L.P. Announces Redemption of All Remaining 6.00% Series A Preferred Units
Steel Partners Holdings L.P. (OTCQX:SPLP) ("Steel Partners" or the "Company"), a diversified global holding company, today announced that it will redeem all remaining outstanding units of its 6.00% Series A Preferred Units, no par value ("Preferred Units"), effective as of the redemption date specified in the Notice of Redemption delivered to holders unless such Notice is revoked by the Company prior to the redemption date.
The Preferred Units will be redeemed in cash for a redemption price equal to $25.00 per unit, plus an amount equal to any accrued and unpaid distributions up to, but excluding, the redemption date.
The Company is executing this full redemption in accordance with the terms set forth in its Eleventh Amended and Restated Agreement of Limited Partnership. Equiniti Trust Company, LLC will act as the redemption agent for this transaction.
This press release is for informational purposes only and does not constitute an offer to purchase or tender any security.
About Steel Partners Holdings L.P.
Steel Partners Holdings L.P. (www.steelpartners.com) is a diversified global holding company that owns and operates businesses and has significant interests in companies across diversified industrial products, energy, defense, supply chain management and logistics, direct marketing, banking, and youth sports.
Forward-Looking and Cautionary Statements.
This press release contains forward-looking statements regarding the planned redemption of the Company's 6.00% Series A Preferred Units and related matters, including the anticipated timing and completion of the redemption. These statements are based on management's current expectations and assumptions and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that may impact actual results include, among others, changes in market conditions and potential delays in the redemption process. Steel Partners Holdings L.P. undertakes no obligation to update or revise these forward-looking statements to reflect subsequent events or circumstances, except as required by law.
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Jennifer Golembeske
Steel Partners Holdings L.P.
212-520-2300
[email protected]