Activism in the micro cap space: Featuring Casey Capital
The micro cap crane rental company Essex Rental caved to Casey Capital this last week, allowing the nomination of the fund’s candidates Lee Keddie and John Climaco to the board. The board is also looking at a number of Casey’s requests for strategic changes.
Casey’s campaign began in February, announcing a 5.9% stake and calling for shareholder representation on the board, terminating an expensive office lease, and evaluating strategic alternatives including a sale of the company.
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