Steel Partners Holdings L.P. Issues Letter to InMode Ltd. Board of Directors Regarding the Company’s Persistent and Egregious Governance Failures
Steel Partners, a significant shareholder, issued a scathing letter to InMode's board alleging that management is steering Q2 earnings downward to justify CEO Moshe Mizrahy's lowball take-private bid of $65 million in EBITDA, well below the $73-$78 million guidance provided in May. The activist group highlighted the unusual cancellation of the earnings conference call and lack of profitability data in the preliminary release, demanding the rescheduling of the July 30 Annual General Meeting to allow shareholders to evaluate the conflicted process.
Key figures
- Guidance
- 2026 non-GAAP income from operations $73 million to $78 million (guided May 6)
- Agm date
- July 30, 2026
- Ceo bid ebitda
- $65 million
- Ceo share purchases
- ~800,000 shares
AI analysis
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