Steel Partners Holdings L.P. Announces Partial Redemption of 6.0% Series A Preferred Units
Steel Partners Holdings LP LTD PARTNERSHIP UNIT (SPLP)
US:NYSE Investor Relations:
steelpartners.com
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Steel Partners Holdings L.P. (NYSE: SPLP) (the “Company”), a diversified global holding company, today announced that it will redeem 1,600,000 units of its 6.0% Series A Preferred Units, no par value (the “Preferred Units”), currently representing approximately 20.2% of total outstanding Preferred Units, on February 6, 2020 (the “Redemption Date”). The Preferred Units are currently traded on the New York Stock Exchange under the symbol “SPLP-PRA” (CUSIP 85814R 206). The Company is redeeming the Preferred Units based on its previously-disclosed obligation to repurchase the Preferred Units by the third anniversary of their issuance, February 7, 2020.The Preferred Units will be redeemed in cash on a pro rata basis for a redemption price equal to $25.00 per unit, plus an amount of $0.22 per unit, equal to any accumulated and unpaid distributions up to, but excluding, the Redemption Date (the “Redemption Price”), for a total payment of approximately $40.4 mil
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