Steel Connect Sub LLC, a subsidiary of Steel Connect LLC, executed three purchases of Spruce Power Holding Corp. (SPRU) common stock totaling 9,702 shares, according to a Form 4 filing covering activity between April 10 and April 14, 2026. The combined outlay for the transactions was $39,059, with per-share prices recorded between $4.00 and $4.05.
The series of buys began on April 10, when Steel Connect Sub LLC acquired 1,700 shares at $4.00 per share. The subsidiary followed up on April 13 with a purchase of 2,975 shares, also at $4.00 per share. The final trade in the sequence occurred on April 14, when 5,027 shares were added at a price of $4.05 per share.
Following these transactions, the filing shows Steel Connect Sub LLC directly owns 3,390,801 shares of Spruce Power common stock. The Form 4 was submitted jointly by a group of related reporting 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 - which the filing states may be considered a Section 13(d) group holding in excess of 10% of Spruce Power’s outstanding common stock. The reporting parties disclaimed beneficial ownership of the securities except to the extent of their pecuniary interest, as noted in the filing.
The insider purchases occurred while SPRU shares were trading near $4.05. Over the past year the stock has delivered a roughly 95% return, a backdrop that InvestingPro's analysis describes as suggesting the shares may be modestly undervalued relative to a Fair Value estimate. InvestingPro coverage additionally highlights an active program of share repurchases by Spruce Power management, a trend that the recent insider purchases reinforce in the filing record.
On corporate results, Spruce Power reported fourth-quarter revenue of $24.0 million for the period ending December 31, 2025, reflecting a 19% increase year-over-year. Despite the revenue gain, the company recorded an adjusted earnings-per-share loss of -$0.38 for that quarter.
Separately, Spruce Power has moved the deadline for shareholder proposals or nominations for the 2026 annual meeting. The company said in a press release filed with the Securities and Exchange Commission that submissions must be received by April 30, 2026, in order to be considered for the 2026 annual meeting; proposals or nominations submitted after that date will not be considered.
Investors seeking further detail on valuation and insider activity trends are directed to InvestingPro’s Pro Research Report, which is cited as part of InvestingPro’s coverage universe for U.S. equities. The Form 4 and the company’s press release regarding the shareholder proposal deadline provide the regulatory record for the transactions and the meeting timetable.
- Transaction breakdown: 1,700 shares on April 10 at $4.00; 2,975 shares on April 13 at $4.00; 5,027 shares on April 14 at $4.05 - total 9,702 shares for $39,059.
- Post-transaction holdings: Steel Connect Sub LLC directly owns 3,390,801 shares of Spruce Power common stock.
- Regulatory grouping: The Form 4 was filed jointly by multiple Steel-affiliated entities that may be deemed a Section 13(d) group holding over 10% of Spruce Power’s outstanding common stock; the reporting parties disclaim beneficial ownership except for pecuniary interest.