Key Summary: On August 29, 2023, Chain of Lakes Investment Fund (8.7%) criticized the Board for failing to create shareholder value and expressed concerns about the company's small scale and inefficient structure. They urged the Board to review strategic options, potentially selling the company for quicker capital return.Market Cap: $81 million | PCTEL, Inc., together with its subsidiaries, provides industrial Internet of Thing devices (IoT), antenna systems, and test and measurement solutions worldwide.
On August 29, 2023, Chain of Lakes Investment Fund (8.7%) stated that the long-tenured Board members have been ineffective at creating shareholder value. The fund criticized the Board members' inability to increase shareholder value, noting the stock price is lower than when they joined. They're worried about the company's small scale in Antenna/IoT and Test and Measurement sectors, along with an inefficient structure, which risks more value loss for shareholders. The Fund suggests the Board swiftly reviews strategic options, potentially selling the whole company for quicker capital return, despite separate sales possibly yielding more value. Source
Comments