Ancora Issues Statement Regarding Outcome of Election Contest at Blucora

Rhea-AI Summary

Ancora Holdings, a significant shareholder of Blucora (NASDAQ: BCOR), expressed disappointment over the recent contest outcome but remains committed to its investment. Ancora urges Blucora's Board of Directors to evaluate all avenues for unlocking shareholder value. Their statement highlights the importance of assessing genuine offers for the company, especially given recent reports of strategic interest in Blucora. Ancora emphasizes the need for transparent engagement in these discussions to maximize value for all stakeholders.

Positive

• Ancora remains committed to engaging as a significant stockholder of Blucora.
• The statement encourages the Board to consider genuine offers, signaling potential interest from other investors.

Negative

• Disappointment over the outcome of the recent contest may indicate shareholder discontent.
• Lack of a strategic plan from the Board could hinder value maximization for shareholders.

Ancora Holdings, Inc. (together with its affiliates, “Ancora”), a sizable stockholder of Blucora, Inc. (NASDAQ: BCOR) (“Blucora” or the “Company”), today issued the following statement:

“We thank our fellow stockholders for their engagement and support in recent weeks. Although we are disappointed with the outcome of this contest, we are committed to remaining an engaged stockholder of Blucora. We urge the Board of Directors to reflect on the pressing issues at hand and objectively assess all paths to unlocking value. In light of the strategic interest in the company, as recently reported by Bloomberg News, we expect the Board of Directors to thoroughly evaluate any bonafide offers for the company (in whole or its parts).”

About Ancora

Ancora Holdings, Inc. is an employee owned, Cleveland, Ohio based holding company which wholly owns four separate and distinct SEC Registered Investment Advisers and a broker dealer. Ancora Advisors LLC specializes in customized portfolio management for individual investors, high net worth investors, investment companies (mutual funds), and institutions such as pension/profit sharing plans, corporations, charitable & “Not-for Profit” organizations, and unions. Ancora Family Wealth Advisors, LLC is a leading, regional investment and wealth advisor managing assets on behalf families and high net-worth individuals. Ancora Alternatives LLC specializes in pooled investments (hedge funds/investment limited partnerships). Ancora Retirement Plan Advisors, Inc. specializes in providing non-discretionary investment guidance for small and midsize employer sponsored retirement plans. Inverness Securities, LLC is a FINRA registered Broker Dealer.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210422005607/en/

FAQ

What is Ancora Holdings' stance on Blucora's recent contest outcome?

Ancora Holdings expressed disappointment over the contest outcome but remains committed to engaging as a significant stockholder.

What does Ancora urge Blucora's Board of Directors to do?

Ancora urges the Board to evaluate all paths to unlocking shareholder value and to assess any bona fide offers for the company.

What recent reports are mentioned regarding Blucora?

Ancora references reports by Bloomberg News about strategic interest in Blucora.

What is the significance of Ancora's statement for BCOR shareholders?

The statement highlights the potential for strategic offers, which could lead to increased value for BCOR shareholders.

How might Ancora's actions affect Blucora's future?

Ancora's engagement and insistence on evaluating offers may prompt the Board to consider strategic options that could enhance company value.