Jul 30, 2024 activistcompany

Wynnefield Group's Director Nominees were elected to the Board of TechPrecision Corporation (TPCS)

Key Summary: On October 28, 2024, Wynnefield Partners filed proxy materials seeking support for its nominees. On December 9, 2024, Wynnefield Partners announced that ISS recommended stockholders vote FOR both of Wynnefield Group's Director Nominees. On December 18, 2024, Glass Lewis & Co. has joined ISS in recommending that stockholders vote FOR both Wynnefield nominees. At the AGM held on December 19, 2024, shareholders elected both Wynnefield nominees, General (Ret) Gene Renuart and Robert Straus to the Board. Also, Crisafulli and McGowan were not elected to the Board.

Market Cap: $37 million | TechPrecision Corporation, together with its subsidiaries, manufactures and sells precision, fabricated, and machined metal structural components and systems in the United States.

On July 2, 2024, Wynnefield Partners (7%) delivered a letter to the company stating their intention to nominate General Victor Eugene “Gene” Renuart, Jr., U.S. Air Force (Ret.) and Robert D. Straus as members of the Board at the upcoming 2024 AGM. Source
On July 30, 2024, Wynnefield Partners launched a campaign website at www.rebuildTPCScredibility.com and issued a letter to the stockholders regarding the election of directors to the Board at the 2024 AGM.
On October 28, 2024, Wynnefield Partners filed proxy materials seeking support for its nominees.
On November 21, 2024, Wynnefield Partners filed proxy materials seeking support for its nominees.
On November 22, 2024, Wynnefield Partners issued an Investor Presentation titled “TechPrecision: A Case of Deteriorated Financial Performance, M&A Debacles, Lack of Transparency, Poor Corporate Governance and Poor Board Quality,”
On December 9, 2024, Wynnefield Partners announced that ISS recommended stockholders vote FOR both of Wynnefield Group's Director Nominees. Source
On December 12, 2024, Wynnefield announced that ISS changed its initial recommendation report on Andrew Levy from WITHHOLD to FOR. As such, ISS recommended a WITHHOLD vote on 3 of 6 of the Company’s directors. ISS continued to recommend FOR General (Ret.) Gene Renuart and Robert Straus and WITHHOLD on incumbent nominees Crisafulli, McGowan and Schenker on the BLUE proxy card. Source
On December 18, 2024, Wynnefield Partners announced that the other leading proxy advisory firm, Glass Lewis & Co. has joined ISS in recommending that TechPrecision stockholders vote FOR both Wynnefield nominees, General (Ret) Gene Renuart and Robert Straus and withhold their votes on incumbent directors Crisafulli, McGowan and on Schenker on the BLUE proxy card.
At the AGM held on December 19, 2024, shareholders elected both Wynnefield nominees, General (Ret) Gene Renuart and Robert Straus to the Board. Also, Crisafulli and McGowan were not elected to the Board.

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