Home / Going-concern warnings / SPRUCE POWER HOLDING CORP
Filed 2026-03-31 路 Form 10-K 路 Accession 0001628280-26-022506 micro
Price before filing: $4 (2026-03-30 close, split/dividend-adjusted)
Market cap at flag: $74.5M (2026-03-31) 路 Latest: $26.8M (2026-10-16)
| Window | SPRU | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -16.8% | +13.7% | -30.5% | 2026-04-30 |
| 90 days | -34.0% | +17.6% | -51.6% | 2026-06-29 |
| 180 days | -54.8% | +21.8% | -76.5% | 2026-09-28 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider bought $686K (15 purchases)
30 days after: 1 insider bought $326K (11 purchases)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-12-31 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 8,702 | $5.03 | $44K | no | Form 4 |
| 2026-01-12 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 10,001 | $5.03 | $50K | no | Form 4 |
| 2026-01-13 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 6,493 | $5.10 | $33K | no | Form 4 |
| 2026-01-14 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 3,426 | $5.10 | $17K | no | Form 4 |
| 2026-01-15 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 137 | $5.10 | $699 | no | Form 4 |
| 2026-03-09 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 6,039 | $3.60 | $22K | no | Form 4 |
| 2026-03-10 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 11,823 | $4.13 | $49K | no | Form 4 |
| 2026-03-11 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 6,211 | $4.15 | $26K | no | Form 4 |
| 2026-03-12 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 15,160 | $4.20 | $64K | no | Form 4 |
| 2026-03-13 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 2,947 | $4.30 | $13K | no | Form 4 |
| 2026-03-19 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 13,739 | $3.74 | $51K | no | Form 4 |
| 2026-03-20 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 46,682 | $4.32 | $202K | no | Form 4 |
| 2026-03-26 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 2,857 | $4.00 | $11K | no | Form 4 |
| 2026-03-27 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 5,391 | $3.98 | $21K | no | Form 4 |
| 2026-03-30 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 20,555 | $4.00 | $82K | no | Form 4 |
| 2026-03-31: red flag filed | |||||||
| 2026-03-31 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 11,228 | $4.03 | $45K | no | Form 4 |
| 2026-04-02 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 1,409 | $4.05 | $6K | no | Form 4 |
| 2026-04-07 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 5,000 | $4.00 | $20K | no | Form 4 |
| 2026-04-09 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 14,532 | $3.98 | $58K | no | Form 4 |
| 2026-04-10 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 1,700 | $4.00 | $7K | no | Form 4 |
| 2026-04-13 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 2,975 | $4.00 | $12K | no | Form 4 |
| 2026-04-14 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 5,027 | $4.05 | $20K | no | Form 4 |
| 2026-04-15 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 10,463 | $4.09 | $43K | no | Form 4 |
| 2026-04-16 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 141 | $4.10 | $578 | no | Form 4 |
| 2026-04-17 | STEEL PARTNERS HOLDINGS L.P. (+6 joint filers) 10% owner | Purchase | 3,640 | $4.03 | $15K | no | Form 4 |
Showing 25 of 26 transactions.
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-31 to 2026-04-30. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"Therefore, the Company has concluded that there is substantial doubt about its ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Going-concern opinion issued by: CohnReznick LLP
Source: independent auditor report in Form 10-K (period 2025-12-31)
Why this score: in auditor's report
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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