Key Summary: On April 24, 2023, Kanen Wealth Management / Philotimo Fund (6.4%) stated the company's stock price does not reflect its true value, initiating discussions with potential buyers. On December 4, 2023, they urged the board to hire an investment banker and form a special committee to explore selling the company, criticizing management's style and emphasizing shareholder interests.Market Cap: $251 million | eGain Corporation develops, licenses, implements, and supports customer service infrastructure software solutions in North America, Europe, the Middle East, Africa, and the Asia Pacific.
On April 24, 2023, Kanen Wealth Management / Philotimo Fund (6.4%) stated its belief that the company’s current Share price does not reflect the underlying intrinsic value of its business. In the last ten days, Philotimo Fund have had introductory, general discussions with certain third parties who could be interested in, or logical for, a transaction involving the company or the company’s assets. Source
On December 4, 2023, Kanen Wealth Management / Philotimo Fund (7.6%) urged the board to hire an investment banker and establish a special committee to pursue the sale of the company. It criticized Mr. Roy's management style, including micromanagement, inflexibility on pricing, and poor responsiveness. In conclusion, it requested the board to act in the shareholders' best interest by initiating a legitimate process to sell the company, independent of Mr. Roy's involvement. Source
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