Steel Partners Initiates Series A Preferred Units Buyback Program

Steel Partners Holdings (SPLP) has released an update.

Steel Partners Holdings L.P. has launched a Preferred Repurchase Program, greenlit by its board of directors, to buy back up to 400,000 of its 6.0% Series A preferred units. The repurchases will occur periodically either on the open market or through off-market negotiated transactions, adhering to relevant legal and regulatory guidelines. The program, which is not bound by a fixed end date, might also involve the company setting up a unit purchase plan under SEC rules to facilitate these transactions.

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For a comprehensive understanding of the announcement, you can read the full document here.