Irenic Capital Management, which identifies itself as “a substantial shareholder of Snap (SNAP) Inc.” with economic interest in approximately 2.5% of the company’s Class A shares, made public a letter sent to the company’s Co-Founder and Chief Executive Officer, Evan Spiegel, detailing the path to realizing $26.37 per share if the company follows what the firm calls “value-enhancing steps.”
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SNAP:
- Bullish flow in Snap Inc. with shares up 2.67%
- TD Cowen says verdicts against Meta, YouTube could imply ongoing legal overhang
- Snap probed by EU over compliance with child protection rules
- META Stock Slides after Losing Landmark Addiction Case—DA Davidson Calls It a ‘Setback’
- EU Probe into Snapchat over Child Grooming Puts Pressure on SNAP Stock