Additional Proxy Soliciting Materials - Non-management (definitive) (dfan14a)
June 28 2022 - 4:06PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
14A
(Rule
14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934
(Amendment No. )
Filed by the Registrant ☐
Filed by a Party other than the Registrant ☒
Check the appropriate box:
| ☐ | Preliminary Proxy Statement |
| ☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
| ☐ | Definitive Proxy Statement |
| ☒ | Definitive Additional Materials |
| ☐ | Soliciting Material Under § 240.14a-12 |
Aerojet Rocketdyne Holdings, Inc. |
(Name of Registrant as Specified In Its Charter)
|
|
STEEL PARTNERS
HOLDINGS L.P.
SPH GROUP HOLDINGS
LLC
SPH GROUP LLC
STEEL PARTNERS
HOLDINGS GP INC.
WEBFINANCIAL
HOLDING CORPORATION
STEEL EXCEL,
INC.
STEEL PARTNERS
LTD.
WARREN G. LICHTENSTEIN
JAMES R. HENDERSON
Tina W. Jonas
JOANNE M. MAGUIRE
AUDREY A. MCNIFF
AIMEE J. NELSON
Mark A. Tucker
MARTIN TURCHIN
Vice Admiral
Mathias W. Winter, USN (RET.)
HEIDI R. WOOD
|
(Name of Persons(s) Filing Proxy Statement, if other than the Registrant)
|
Payment of Filing Fee (Check all boxes that apply):
| ☐ | Fee paid previously with preliminary materials |
| ☐ | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 |
On June 28, 2022, Warren G. Lichtenstein,
Executive Chairman of Aerojet Rocketdyne Holdings, Inc., issued the following press release:
Aerojet
Rocketdyne Executive Chairman Warren Lichtenstein Issues Final Statement Ahead of Special Meeting
NEW YORK--(BUSINESS WIRE)--Aerojet Rocketdyne Holdings,
Inc. (NYSE: AJRD) (“Aerojet Rocketdyne” or the “Company”) Executive Chairman Warren Lichtenstein, who collectively
with his affiliates and the participants in his solicitation owns approximately 5.6% of the Company's outstanding shares, today issued
the below statement ahead of a special meeting of shareholders (the “Special Meeting”) scheduled to be held on June 30, 2022.
As a reminder, Mr. Lichtenstein is seeking support on the GREEN Proxy Card to elect his refreshed slate of highly qualified
candidates to the Company’s Board of Directors (the “Board”). Learn more about the slate and its plan for enhanced value
creation by visiting www.SaveAerojet.com.
Mr. Lichtenstein commented:
“Aerojet Rocketdyne’s viability as a functioning
and sellable business hangs in the balance at this week’s Special Meeting. If shareholders elect Eileen Drake’s slate of director
candidates, they will be solidifying the power of a rogue Chief Executive Officer who refuses to acknowledge the Company’s financial
and operational deterioration and has not put forth a strategic plan. Shareholders should not be fooled by Ms. Drake’s attempts
to downplay the last 18 months of evident cash flow issues, customer complaints, employee attrition and program performance lapses. Her
unwillingness to pre-release second quarter results signals that the Company is, in fact, reeling from neglect. These problems need to
be immediately addressed by a credible Chief Executive Officer and an engaged Board, or else hundreds of millions – if not billions
– of dollars in value will be destroyed. Fortunately, Mark Tucker and the rest of our refreshed slate have diagnosed Aerojet Rocketdyne’s
vulnerabilities and outlined a comprehensive fix-and-repair plan that targets at least $65 per share within three years.”
***
VISIT WWW.SAVEAEROJET.COM
TO LEARN ABOUT THE LICHTENSTEIN NOMINEES AND THEIR PLAN FOR VALUE CREATION.
VOTE THE GREEN PROXY CARD.
***
Forward-Looking Statements
This press release contains certain "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, that reflect Steel Partners Holdings L.P.’s (“SPLP”) current expectations and projections about
its future results, performance, prospects and opportunities. SPLP identifies these forward-looking statements by using words such as
"may," "should," "expect," "hope," "anticipate," "believe," "intend,"
"plan," "estimate," "will" and similar expressions. These forward-looking statements are based on information
currently available to SPLP and are subject to risks, uncertainties and other factors that could cause its actual results, performance,
prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These factors
include, without limitation, the adverse effects of the COVID-19 pandemic to SPLP’s business, results of operations, financial condition
and cash flows; material weaknesses in SPLP’s internal control over financial reporting; fluctuations in crude oil and other commodity
prices; substantial cash funding requirements that may be required in the future as a result of certain of SPLP’s subsidiaries’
sponsorship of defined benefit pension plans; significant costs, including remediation costs, as a result of complying with environmental
laws or failing to comply with other extensive regulations, including banking regulations; the impact of climate change legislation or
regulations restricting emissions of greenhouse gases on costs and demand for SPLP’s services; impacts to SPLP’s liquidity
or financial condition as a result of legislative and regulatory actions; SPLP’s ability to maintain sufficient cash flows from
operations or through financings to meet its obligations under its senior credit facility; risks associated with SPLP’s business
strategy of acquisitions; losses sustained in SPLP’s investment portfolio; the impact of interest rates on SPLP’s investments,
such as increased interest rates or the use of a SOFR based interest rate in SPLP’s credit facilities; reliance on the intellectual
property owned by others and SPLP’s ability to protect its own intellectual property and licenses; risks associated with conducting
operations outside of the United States, including changes in trade policies and the costs or limitations of acquiring materials and products
used in SPLP’s operations; risks of litigation; impacts to SPLP’s WebBank business as a result of the highly regulated environment
in which it operates, as well as the risk of litigation regarding the processing of PPP loans and the risk that the SBA may not fund some
or all PPP loan guaranties; potentially disruptive impacts from economic downturns in various sectors; loss of customers by SPLP’s
subsidiaries as a result of not maintaining long-term contracts with customers; risks related to SPLP’s key members of management
and the senior leadership team; SPLP’s agreement to indemnify its manager pursuant to its management agreement, which may incentivize
the manager to take unnecessary risks; risks related to SPLP’s common and preferred units, including potential price reductions
for current unitholders if additional common or preferred units are issued, as well as the lack of an active market for SPLP’s units
as a result of transfer restrictions contained in SPLP’s partnership agreement; the ability of SPLP’s subsidiaries to fully
use their tax benefits; impacts as a result of changes in tax rates, laws or regulations, including U.S. government tax reform; labor
disruptions as a result of vaccine mandated by the United States federal government. These statements involve significant risks and uncertainties,
and no assurance can be given that the actual results will be consistent with these forward-looking statements. Investors should read
carefully the factors described in the "Risk Factors" section of SPLP's filings with the SEC, including SPLP's Form 10-K for
the year ended December 31, 2021, for information regarding risk factors that could affect SPLP's results. Any forward-looking statement
made in this press release speaks only as of the date hereof. Except as otherwise required by law, SPLP undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances, or any
other reason.
Contacts
Longacre Square Partners
Greg Marose / Joe Germani
gmarose@longacresquare.com / jgermani@longacresquare.com
Okapi Partners
Mark Harnett / Christian Jacques
mharnett@okapipartners.com / cjacques@okapipartners.com
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