Galloway Capital Partners proposed a board nominee for Koil Energy Solutions (KLNG)

Key Summary: Galloway Capital (8.3%) urges strategic alternatives for shareholder value, proposing a board nominee due to stock undervaluation

Market Cap: $7 million | Koil Energy Solutions, Inc., an energy services company, provides equipment and support services to the energy and offshore industries.     

Background

On November 27, 2023, Galloway Capital Partners (6.6%) delivered a letter to the Chairman and CEO of the company highlighting disappointment with management’s performance and suggested that management should explore strategic alternatives to enhance shareholder value, such as a possible merger, sale, or going private transaction. Additionally, Galloway recommended a candidate to be appointed to the Board, citing his strong public board and capital markets experience.

Update

On March 6, 2024, Galloway Capital Partners (8.3%) delivered a letter to the Chairman and CEO of the company expressing its disappointment in the company's stock performance, emphasizing its undervaluation. He proposed a board nominee to enhance shareholder value.