Orion Properties receives unsolicited offer to go private
Unsolicited Acquisition Offer: Orion Properties has received an unsolicited offer from Kawa Capital Management to acquire the remaining shares of the company for $2.50 each, with Kawa currently holding approximately 9.7% of outstanding shares.
Board Review and Market Reaction: Orion's board will review the offer with advisors, while the company's stock rose about 6% in after-hours trading, reaching $2.14 per share.
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Kawa Capital Management Fully Exits Gerdau S.A. with $6.49 Million Transaction
- Full Liquidation: Kawa Capital Management sold all 2,094,404 shares of Gerdau S.A. in Q4 2023 for approximately $6.49 million, reducing its exposure from 11.8% to 0%, indicating a strategic shift in risk management.
- Portfolio Shift: Following the liquidation, Kawa's top holdings now include BDN ($15.73 million, 36.4%), ONL ($12.54 million, 29.0%), and others, reflecting a pivot towards real estate and diversified materials companies.
- Stock Performance: As of January 20, 2023, Gerdau's shares were priced at $4.16, up 47% over the past year, significantly outperforming the S&P 500's 14% gain, showcasing the company's strong market position and pricing discipline.
- Investor Outlook: Gerdau's latest earnings report highlighted steady cash generation and ongoing capital returns, including dividends and buybacks, despite a normalization in steel markets, presenting a positive outlook for long-term investors focused on durability.
Kawa Capital Fully Exits Gerdau S.A. Position with $6.49 Million Transaction
- Position Liquidation: Kawa Capital sold 2,094,404 shares of Gerdau S.A. in Q4, with an estimated transaction value of $6.49 million, marking a reduction of its exposure from 11.8% to 0%, indicating a focus on risk management.
- Market Performance: As of January 20, Gerdau S.A. shares were priced at $4.16, reflecting a 47% increase over the past year, significantly outperforming the S&P 500's 14% gain during the same period, showcasing the company's strong performance in the steel market.
- Financial Health: In its latest earnings report, Gerdau highlighted steady cash generation and ongoing capital returns, including dividends and buybacks, despite the normalization of steel markets, demonstrating financial flexibility and a robust balance sheet.
- Investment Strategy Shift: The complete exit from Gerdau S.A. suggests that Kawa Capital may be restructuring its portfolio and managing risk after a significant stock price rally, shifting focus towards more diversified real estate and materials assets.
Orion Properties Claims Kawa's Director Nominations Are Not Valid
Invalid Nomination Notice: Orion Properties (ONL) declared that The Kawa Fund Limited's notice to nominate five board candidates is invalid due to non-compliance with the company's bylaws, including failure to prove eligibility as a stockholder.
Bylaw Compliance Issues: The Kawa Fund's nomination lacked necessary details about its plans for the company and did not meet several other bylaw requirements, according to Orion's board.
Upcoming Annual Meeting: Orion Properties plans to announce the date for its 2026 annual meeting and will file proxy materials with the SEC in the near future.
Stock Performance: Following the announcement, Orion's stock rose by 4.6% in morning trading.
Orion Properties Inc. Sets Dates for Third Quarter 2025 Earnings Release and Webcast
Operating Results Announcement: Orion Properties Inc. will release its third-quarter operating results for the period ending September 30, 2025, after market close on November 6, 2025.
Webcast and Conference Call Details: A conference call to discuss the results will be held on November 7, 2025, at 10:00 a.m. ET, accessible via the company's website or by phone for participants in the U.S., Canada, and internationally.
Orion Properties Rejects Revised $2.75/Share Cash Acquisition Proposal From Kawa Capital
Acquisition Proposal Rejected: Orion Properties Inc. has rejected a revised acquisition proposal of $2.75 per share from Kawa Capital Management, stating it undervalues the company and is not in the best interests of its stockholders.
Future Opportunities Considered: The Board remains open to evaluating proposals that appropriately value the company, with Wells Fargo and Hunton Andrews Kurth LLP advising Orion on financial and legal matters, respectively.
Orion Properties board rejects Kawa Capital's revised proposal
Orion Properties Board Decision: The board of Orion Properties rejected Kawa Capital Management's revised acquisition offer of $2.75 per share, stating it undervalued the company and was not in the best interest of shareholders.
Stock Market Reaction: Following the announcement, Orion Properties' stock rose by 4.7% in premarket trading, reaching a price of $2.86.
Kawa Capital Management Fully Exits Gerdau S.A. with $6.49 Million Transaction
- Full Liquidation: Kawa Capital Management sold all 2,094,404 shares of Gerdau S.A. in Q4 2023 for approximately $6.49 million, reducing its exposure from 11.8% to 0%, indicating a strategic shift in risk management.
- Portfolio Shift: Following the liquidation, Kawa's top holdings now include BDN ($15.73 million, 36.4%), ONL ($12.54 million, 29.0%), and others, reflecting a pivot towards real estate and diversified materials companies.
- Stock Performance: As of January 20, 2023, Gerdau's shares were priced at $4.16, up 47% over the past year, significantly outperforming the S&P 500's 14% gain, showcasing the company's strong market position and pricing discipline.
- Investor Outlook: Gerdau's latest earnings report highlighted steady cash generation and ongoing capital returns, including dividends and buybacks, despite a normalization in steel markets, presenting a positive outlook for long-term investors focused on durability.
Kawa Capital Fully Exits Gerdau S.A. Position with $6.49 Million Transaction
- Position Liquidation: Kawa Capital sold 2,094,404 shares of Gerdau S.A. in Q4, with an estimated transaction value of $6.49 million, marking a reduction of its exposure from 11.8% to 0%, indicating a focus on risk management.
- Market Performance: As of January 20, Gerdau S.A. shares were priced at $4.16, reflecting a 47% increase over the past year, significantly outperforming the S&P 500's 14% gain during the same period, showcasing the company's strong performance in the steel market.
- Financial Health: In its latest earnings report, Gerdau highlighted steady cash generation and ongoing capital returns, including dividends and buybacks, despite the normalization of steel markets, demonstrating financial flexibility and a robust balance sheet.
- Investment Strategy Shift: The complete exit from Gerdau S.A. suggests that Kawa Capital may be restructuring its portfolio and managing risk after a significant stock price rally, shifting focus towards more diversified real estate and materials assets.
Orion Properties Claims Kawa's Director Nominations Are Not Valid
Invalid Nomination Notice: Orion Properties (ONL) declared that The Kawa Fund Limited's notice to nominate five board candidates is invalid due to non-compliance with the company's bylaws, including failure to prove eligibility as a stockholder.
Bylaw Compliance Issues: The Kawa Fund's nomination lacked necessary details about its plans for the company and did not meet several other bylaw requirements, according to Orion's board.
Upcoming Annual Meeting: Orion Properties plans to announce the date for its 2026 annual meeting and will file proxy materials with the SEC in the near future.
Stock Performance: Following the announcement, Orion's stock rose by 4.6% in morning trading.
Orion Properties Inc. Sets Dates for Third Quarter 2025 Earnings Release and Webcast
Operating Results Announcement: Orion Properties Inc. will release its third-quarter operating results for the period ending September 30, 2025, after market close on November 6, 2025.
Webcast and Conference Call Details: A conference call to discuss the results will be held on November 7, 2025, at 10:00 a.m. ET, accessible via the company's website or by phone for participants in the U.S., Canada, and internationally.
Orion Properties Rejects Revised $2.75/Share Cash Acquisition Proposal From Kawa Capital
Acquisition Proposal Rejected: Orion Properties Inc. has rejected a revised acquisition proposal of $2.75 per share from Kawa Capital Management, stating it undervalues the company and is not in the best interests of its stockholders.
Future Opportunities Considered: The Board remains open to evaluating proposals that appropriately value the company, with Wells Fargo and Hunton Andrews Kurth LLP advising Orion on financial and legal matters, respectively.
Orion Properties board rejects Kawa Capital's revised proposal
Orion Properties Board Decision: The board of Orion Properties rejected Kawa Capital Management's revised acquisition offer of $2.75 per share, stating it undervalued the company and was not in the best interest of shareholders.
Stock Market Reaction: Following the announcement, Orion Properties' stock rose by 4.7% in premarket trading, reaching a price of $2.86.
