180 Degree Capital Corp. Notes Agreement With Lantronix, Inc. for Nomination of Directors at Upcoming Annual Meeting of Stockholders
180 Degree Capital Corp. (NASDAQ:TURN) has reached a cooperation agreement with Lantronix, Inc. (LTRX) to nominate Narbeh Derhacobian and Kevin Palatnik as directors at LTRX's upcoming 2024 Annual Meeting of Stockholders. 180 Degree Capital, a long-time investor in LTRX, views this as a constructive outcome of their engagement with LTRX's management and board. The company believes LTRX is undervalued and sees similarities with their previous portfolio company, Adesto Technologies. 180 Degree Capital expects the nominees to bring valuable experience that can help build substantial value for all LTRX stakeholders. LTRX's CEO, Saleel Awsare, expressed appreciation for the collaborative relationship with 180 Degree Capital and the potential of the new nominees to help grow shareholder value.
180 Degree Capital Corp. (NASDAQ:TURN) ha raggiunto un accordo di cooperazione con Lantronix, Inc. (LTRX) per nominare Narbeh Derhacobian e Kevin Palatnik come direttori nell'imminente Assemblea Annuale degli Azionisti 2024 di LTRX. 180 Degree Capital, un investitore di lunga data in LTRX, considera questo un risultato costruttivo del loro impegno con la direzione e il consiglio di amministrazione di LTRX. L'azienda crede che LTRX sia sottovalutata e vede similitudini con la loro precedente azienda in portafoglio, Adesto Technologies. 180 Degree Capital si aspetta che i candidati portino un'esperienza preziosa che possa contribuire a creare un valore sostanziale per tutti gli stakeholder di LTRX. Il CEO di LTRX, Saleel Awsare, ha espresso apprezzamento per la relazione collaborativa con 180 Degree Capital e il potenziale dei nuovi candidati per aiutare a far crescere il valore per gli azionisti.
180 Degree Capital Corp. (NASDAQ:TURN) ha llegado a un acuerdo de cooperación con Lantronix, Inc. (LTRX) para nominar a Narbeh Derhacobian y Kevin Palatnik como directores en la próxima Asamblea Anual de Accionistas de LTRX en 2024. 180 Degree Capital, un inversor de larga data en LTRX, considera esto como un resultado constructivo de su compromiso con la dirección y la junta de LTRX. La empresa cree que LTRX está subvaluada y ve similitudes con su anterior empresa de cartera, Adesto Technologies. 180 Degree Capital espera que los nominados aporten experiencia valiosa que pueda ayudar a construir un valor sustancial para todos los interesados de LTRX. El CEO de LTRX, Saleel Awsare, expresó su aprecio por la relación colaborativa con 180 Degree Capital y el potencial de los nuevos nominados para ayudar a incrementar el valor para los accionistas.
180 Degree Capital Corp. (NASDAQ:TURN)은 Lantronix, Inc. (LTRX)와 협력 합의에 도달하여 Narbeh Derhacobian 및 Kevin Palatnik를 2024년 LTRX의 주주 연례 총회에서 이사로 지명하기로 했습니다. LTRX의 오랜 투자자인 180 Degree Capital은 이러한 결과를 LTRX의 경영진 및 이사회와의 협력적 관계의 건설적인 결과로 보고 있습니다. 이 회사는 LTRX가 저평가되어 있다고 생각하며, 이전 포트폴리오 회사인 Adesto Technologies와의 유사성을 보고 있습니다. 180 Degree Capital은 후보자들이 LTRX의 모든 이해관계자에게 상당한 가치를 창출하는 데 도움이 되는 소중한 경험을 제공할 것이라고 기대합니다. LTRX의 CEO인 Saleel Awsare는 180 Degree Capital과의 협력 관계에 대한 감사를 표하며, 새로운 후보자들이 주주 가치를 성장시키는 데 기여할 수 있는 가능성을 언급했습니다.
180 Degree Capital Corp. (NASDAQ:TURN) a conclu un accord de coopération avec Lantronix, Inc. (LTRX) pour nommer Narbeh Derhacobian et Kevin Palatnik en tant qu'administrateurs lors de la prochaine Assemblée Générale Annuelle des Actionnaires de LTRX en 2024. 180 Degree Capital, un investisseur de longue date dans LTRX, considère cela comme un résultat constructif de leur engagement avec la direction et le conseil d'administration de LTRX. L'entreprise croit que LTRX est sous-évalué et voit des similitudes avec son ancien portefeuille, Adesto Technologies. 180 Degree Capital s'attend à ce que les candidats apportent une expérience précieuse qui pourra aider à créer une valeur substantielle pour tous les parties prenantes de LTRX. Le PDG de LTRX, Saleel Awsare, a exprimé son appréciation pour la relation collaborative avec 180 Degree Capital et le potentiel des nouveaux candidats pour aider à accroître la valeur pour les actionnaires.
180 Degree Capital Corp. (NASDAQ:TURN) hat ein Kooperationsabkommen mit Lantronix, Inc. (LTRX) erreicht, um Narbeh Derhacobian und Kevin Palatnik als Direktoren bei der bevorstehenden Jahreshauptversammlung der Aktionäre 2024 von LTRX zu nominieren. 180 Degree Capital, ein langjähriger Investor in LTRX, betrachtet dies als ein konstruktives Ergebnis ihrer Zusammenarbeit mit dem Management und dem Vorstand von LTRX. Das Unternehmen glaubt, dass LTRX unterbewertet ist und sieht Ähnlichkeiten mit ihrem früheren Portfolio-Unternehmen, Adesto Technologies. 180 Degree Capital erwartet, dass die Nominierten wertvolle Erfahrungen mitbringen, die dazu beitragen können, allen LTRX-Stakeholdern einen erheblichen Wert zu bieten. Der CEO von LTRX, Saleel Awsare, drückte seine Wertschätzung für die kooperative Beziehung zu 180 Degree Capital aus und betonte das Potenzial der neuen Nominierten, den Aktionärswert zu steigern.
- Agreement reached for nomination of two new directors at LTRX's upcoming Annual Meeting
- Constructive engagement between 180 Degree Capital and LTRX's management
- Potential for new nominees to bring valuable experience to LTRX's board
- LTRX's stock price currently undervalues the company's assets and products
Insights
This agreement between 180 Degree Capital and Lantronix marks a significant shift in LTRX's board composition, potentially influencing the company's strategic direction. The nomination of Narbeh Derhacobian and Kevin Palatnik, both with experience from Adesto Technologies, suggests a focus on value creation and possibly a more aggressive growth strategy. This move aligns with the 'constructive activist' approach of 180 Degree Capital, aiming to unlock shareholder value without causing disruption.
Investors should note that changes in board composition often precede shifts in corporate strategy or performance improvements. The expertise of the new nominees, particularly in leading-edge technology companies, could be instrumental in driving innovation and market expansion for Lantronix. However, the real impact will depend on how effectively these new directors can integrate and influence the existing board dynamics.
Lantronix's decision to include these nominees signals a potential shift towards more aggressive growth and innovation in the edge computing and IoT sectors. The company's current position as 'undervalued' according to 180 Degree Capital suggests there's significant room for market expansion and product development. The experience of Derhacobian and Palatnik in leading-edge technology could be important in accelerating Lantronix's development of edge intelligence solutions.
For investors, this could mean increased focus on R&D and potentially new product lines that could drive revenue growth. However, it's important to monitor how these changes might affect short-term expenses and long-term strategic investments. The market's reaction to this board shake-up will be telling, as it could signal increased confidence in Lantronix's future prospects and ability to compete in the rapidly evolving IoT and edge computing markets.
MONTCLAIR, N.J., Aug. 12, 2024 (GLOBE NEWSWIRE) -- 180 Degree Capital Corp. (NASDAQ:TURN) (“180 Degree Capital”) today noted its cooperation agreement with Lantronix, Inc. (“LTRX”), to include Narbeh Derhacobian and Kevin Palatnik as director nominees (the “Nominees”) at LTRX’s upcoming 2024 Annual Meeting of Stockholders.
“As long-time, supportive investors in LTRX, we would like to thank Saleel Awsare, LTRX’s Chief Executive Officer, and LTRX’s board of directors for constructive engagement over the past months that led to today’s announcement of the Agreement,” said Kevin M. Rendino, Chief Executive Officer of 180 Degree Capital. “We call ourselves constructive activists for exactly this reason. We are not looking to create disruptions in the businesses of our investee companies. We seek to work with our investee management teams and boards of directors to unlock value for all stakeholders of the business, including 180 Degree Capital.”
“We believe LTRX is a well-positioned company with differentiated products and assets that are undervalued at its current stock price,” added Daniel B. Wolfe, President of 180 Degree Capital. “It is a very similar situation to our prior portfolio company, Adesto Technologies, Inc., that included Narbeh Derhacobian as its Chief Executive Officer and Kevin Palatnik on its board of directors. We believe Narbeh and Kevin bring a wealth of experience that can help Saleel, and his management team build substantial value for all stakeholders of LTRX as members of its Board.”
“We value our collaborative and productive relationship with 180 Degree Capital and thank them for introducing Lantronix to Narbeh Derhacobian and Kevin Palatnik as candidates to serve on the Lantronix Board of Directors,” said Saleel Awsare, Chief Executive Officer of Lantronix. “Based on their vast experience at leading-edge technology companies, Narbeh and Kevin have tremendous potential to help grow our shareholder value as we remain focused on our strategy to enable edge intelligence with our compute and connect solutions.”
About 180 Degree Capital Corp.
180 Degree Capital Corp. is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. Our goal is that the result of our constructive activism leads to a reversal in direction for the share price of these investee companies, i.e., a 180-degree turn. Detailed information about 180 and its holdings can be found on its website at www.180degreecapital.com.
Press Contact:
Daniel B. Wolfe
Robert E. Bigelow
180 Degree Capital Corp.
973-746-4500
ir@180degreecapital.com
Mo Shafroth
RF Binder
Morrison.shafroth@rfbinder.com
Forward-Looking Statements
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's securities filings filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference and link to the website www.180degreecapital.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release. 180 is not responsible for the contents of third-party websites.
FAQ
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