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Activist Letters and Presentations

A curated feed of letters and presentations from activist investors.

activistletters

Orbic and AJP Slam Sonim Technologies (SONM) Leadership, Nominate New Board, Push $25M Buyout Plan to Restore Shareholder Value

Summary On June 26, 2025, AJP Holding and Orbic North America, owning ~19% of Sonim Technologies, issued a letter urging
Jun 26, 2025
activistletters

Orbic Proposes $25M Bid for Sonim Technologies (SONM), Criticizes Social Mobile Deal and Urges Board to Pursue Higher-Value Transaction

Summary On June 26, 2025, Orbic North America reiterated its interest in acquiring Sonim Technologies’ assets for $25 million, proposing
Jun 26, 2025
activistletters

Hartman Shareholder Alliance Urges Election of New Silver Star Properties REIT (SSPN) Board to Execute Transparent Liquidation and Capital Return

Summary On June 20, 2025, the Hartman Shareholder Alliance urged shareholders to support a new board slate—Thomas, Longnecker, and
Jun 24, 2025
activistletters

Hartman Shareholder Alliance Accuses Silver Star Properties REIT (SSPN) of Abusing Poison Pill to Rig Vote, Urges Shareholders to Oust Board

Summary On June 23, 2025, the Hartman Shareholder Alliance accused Silver Star Properties REIT’s Board of triggering a poison
Jun 24, 2025
activistletters

Askeladden Capital Slams AstroNova (ALOT) Board for Breaching Confidentiality and Stonewalling Change, Urges Shareholders to Support Director Overhaul

Summary On June 24, 2025, Samir Patel and Askeladden Capital criticized AstroNova's Board for breaching confidentiality and misrepresenting
Jun 24, 2025
activistletters

Sherwood Group Presses Barnwell Industries (BRN) for Board Reform, Cites Shareholder Support and Urges Resolution Amid Governance Concerns

Summary On June 20, 2025, Sherwood Group, holding ~29.9% of Barnwell Industries, criticized the board’s continued delays of
Jun 20, 2025
activistletters

Hartman Shareholder Alliance Blames Silver Star Properties REIT (SSPN) Collapse on Leadership Failures, Urges Return of Proven Team to Restore Value

Summary On June 19, 2025, the Hartman Shareholder Alliance attributed Silver Star Properties REIT’s collapse to failed leadership following
Jun 20, 2025
activistletters

Hartman Shareholder Alliance Criticizes Silver Star Properties REIT (SSPN) for Blocking Shareholder Vote, Urges Support in Proxy Battle for Accountability

Summary On June 18, 2025, Al Hartman and the Hartman Shareholder Alliance informed Silver Star Properties REIT shareholders that legal
Jun 18, 2025
activistletters

Charles Frischer Urges Regional Health Properties (RHE) Board to Pursue $4.00/Share Buyout Offer, Criticizes SunLink Merger Plan

Summary On June 18, 2025, Charles Frischer, Regional Health Properties’ largest common and preferred shareholder, urged the Board to engage
Jun 18, 2025
activistletters

Askeladden Capital Challenges AstroNova (ALOT) Board Over Strategy, Governance, and Capital Allocation in Proxy Fight

Summary On June 17, 2025, Askeladden Capital issued a detailed letter to AstroNova shareholders defending its nominees and criticizing the
Jun 17, 2025
activistletters

Marlton Partners Demands Special Meeting at 180 Degree Capital (TURN), Citing Governance Failures and Mount Logan Deal Concerns

Summary On June 17, 2025, Marlton Partners and affiliated TURN shareholders, owning over 10% of 180 Degree Capital Corp. (NASDAQ:
Jun 17, 2025
activistletters

Hartman Shareholder Alliance Blasts Silver Star Properties REIT (SSPN) for Mismanaged Asset Sales, Urges Vote for Disciplined Liquidation and Capital Return

Summary On June 17, 2025, the Hartman Shareholder Alliance criticized Silver Star Properties’ asset liquidation strategy, calling it a case
Jun 17, 2025
activistletters

Hartman Shareholder Alliance Blasts Silver Star Properties REIT (SSSS) Over Failed Strategy, Demands Governance Overhaul and Capital Return

Summary On June 16, 2025, the Hartman Shareholder Alliance issued a letter condemning Silver Star Properties REIT’s “New Direction
Jun 16, 2025
activistletters

Ortelius Advisors Presses for Board Overhaul at Brookdale Senior Living (BKD), Criticizes Debt, Leases, and Strategy in Proxy Campaign

Summary On June 16, 2025, Ortelius Advisors issued a letter urging Brookdale Senior Living shareholders to vote for its six
Jun 16, 2025
activistletters

BML Capital Opposes Ikena Oncology (IKNA)–Inmagene Merger, Urges Cash Return to Shareholders

Summary On June 16, 2025, BML Capital Management, owning 8.4% of Ikena Oncology (IKNA), publicly opposed the proposed reverse
Jun 16, 2025
activistletters

Findell Capital Challenges Oportun Financial (OPRT) Board, Cites Governance Failures and Urges Election of Lending Expert Warren Wilcox

Summary On June 13, 2025, Findell Capital, a 7.4% shareholder of Oportun Financial, issued a letter challenging the company’
Jun 13, 2025
activistletters

Vivo Capital Challenges Sinovac Biotech (SVA) Board Ahead of July 8 Vote, Citing Governance Failures and Dividend Dispute

Summary On June 13, 2025, Vivo Capital, an 8% shareholder in Sinovac Biotech, issued a letter addressing what it calls
Jun 13, 2025
activistletters

Hartman Group Challenges Silver Star Properties REIT (SSSS) Strategy, Urges Asset Sales and Capital Return Amid NAV Collapse

Summary On June 13, 2025, the Hartman Group criticized Silver Star Properties’ reinvestment of $395M in asset sale proceeds into
Jun 13, 2025
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