Additionally, the Company has granted Black Diamond a waiver The Agreement, which includes a voting commitment and customary standstill and related provisions, will be filed by KVH on a Form 8-K with the Securities and Exchange Commission (SEC). Stephen Deckoff cofounded Black Diamond Capital Management, which manages $9 billion in assets. Mr. Deckoff has held or currently holds board seats on a number of Black Diamond portfolio companies, including Consumer Portfolio Services, Inc., ION Media, Werner Ladder, White Birch, Bayou Steel, SmarteCarte, Sun World and PTC Alliance, among others. Actual results could differ materially from the results projected in or implied by the forward-looking statements made in this press release. Previously, Stephen was a Board Member at InSight Health and We remain fully focused on executing against our plan and prudently operating our business as we continue to work with our advisors to review all strategic alternatives., As a large shareholder, I look forward to joining the Board and contributing to the future success of this strong business, said Mr. Deckoff. Sie knnen Ihre Einstellungen jederzeit ndern. Black Diamond Credit Strategies Offshore Ltd. KVH Industries, Inc. Agrees to Nominate Black Diamond Managing Principal Stephen Deckoff to Board of Directors at the 2023 Annual Meeting, Company Grants Black Diamond a Waiver to Purchase Up to 25% of Common Stock. On the other hand, small-cap stocks make up only 6.7% of the portfolio. Factors that might cause these differences include, but are not limited to: unanticipated technical and other challenges that arise with the services provided by KVH; unanticipated technical or legal delays with the services; customer and strategic partner responses; potential future changes to the pricing or other terms; and potential unforeseen costs or expenses of providing the products and services. KVH Introduces New Enterprise-grade Cybersecurity and Email Services for Mariners; KVH .. KVH Introduces New Enterprise-grade Cybersecurity and Email Services for Mariners, KVH Industries' CEO and CTO to Speak at 25th Annual Needham Growth Conference, Kvh Industries Inc De : Change in Directors or Principal Officers (form 8-K), Needham Adjusts Price Target on KVH Industries to $13 From $12, Maintains Buy Rating, Needham Adjusts KVH Industries' Price Target to $11 from $14, Keeps Buy Rating. MIDDLETOWN, R.I., Feb. 03, 2023 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (Nasdaq: KVHI) ("KVH" or the "Company"), today announced that it has entered into a support agreement (the "Agreement") with Black Diamond Capital Management, L.L.C. Agrees to Nominate Black Diamond Managing Principal Stephen Deckoff to Board of Directors at the 2023 Annual Meeting, Company Grants Black Diamond a Waiver to Purchase Up to 25% of Common Stock. These positions were updated on February 14th based on the funds latest 13F filing. Pursuant to the Agreement, the Company has committed to nominate and support Black Diamond Managing Principal Stephen H. Deckoff as an independent Class WebStephen Henry Deckoff is Mng Principal/Founder at Black Diamond Capital Mgmt LLC. ", "As a large shareholder, I look forward to joining the Board and contributing to the future success of this strong business," said Mr. Deckoff. Portions of this content protected by US Patent numbers 7,865,496, 7,856,390, and 7,716,116. Copyright 2023 MarketWatch, Inc. All rights reserved. KVH Industries, Inc., is a global leader in mobile connectivity, content, and value-added services with innovative technology designed to enable a mobile world. All Rights Reserved. Stephen H. Deckoff and James E. Walker III Recommended for Election to Its Board of Directors. and certain of its affiliates (collectively, Black Diamond). KVH develops, manufactures, and provides maritime communication hardware and services worldwide. in Operations Research from the Engineering School at Cornell University. Stephen H. Deckoff, 57 - Mr. Deckoff is the Managing Principal of Black Diamond Capital Management, L.L.C. Though he already owns property in New York and a multimillion-dollar villa overlooking the turquoise Caribbean waters of Peter Bay in the U.S. Virgin Islands, financier Stephen Deckoff just added another pricey bauble to his real estate portfolio. KVH does not assume any obligation to update forward-looking statements to reflect new information and developments. Following the election of Mr. Deckoff at the 2023 Annual Meeting, the KVH Board will continue to have seven directors. Healthcare, in particular, requires this assessment this isnt an industry known for fast change. Consumer Portfolio Services, Inc. is an independent specialty finance company that providesindirect automobile financing to individuals with past credit problems or limited credit histories. Durch Klicken auf Alle akzeptieren erklren Sie sich damit einverstanden, dass Yahoo und unsere Partner Ihre personenbezogenen Daten verarbeiten und Technologien wie Cookies nutzen, um personalisierte Anzeigen und Inhalte zu zeigen, zur Messung von Anzeigen und Inhalten, um mehr ber die Zielgruppe zu erfahren sowie fr die Entwicklung von Produkten. KVH is a registered trademark of KVH Industries, Inc. 2023 GlobeNewswire, Inc., source Press Releases. Presently, Mr. Deckoff is still Managing Principal at this company. India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Musk donated around $1.95 billion in Tesla shares last year, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon, French media billionaire Niel fails with bid for TNT television frequence - Arcom. Stamford, CT 06902. WebBlack Diamond is a privately held alternative asset management firm specializing in high yield credit, stressed & distressed credit, restructurings and business turnarounds. The Company will accept the resignation of one of its incumbent directors, which resignation will become effective at the 2023 Annual Meeting. 4,071,500 shares of Consumer Portfolio Svcs Inc currently worth over $48.2 million and making up 25.9% of the portfolio value. This website uses cookies to improve your experience. What Is The Potential Of Generative AI In Healthcare? Mr. Deckoff has a B.S. Company/Fund Name: Black Diamond Capital Management, L.L.C. The Agreement, which includes a voting commitment and customary standstill and related provisions, will be filed by KVH on a Form 8-K with the Securities and Exchange Commission (SEC). He also owns multi-million dollar properties in Colorado and New York City, and a Beverly Hills mansion previously owned by the Latsis shipping family. KVH Industries, Inc., is a global leader in mobile connectivity, content, and value-added services with innovative technology designed to enable a mobile world. Klicken Sie auf Einstellungen verwalten um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. Source. KVH on Feb. 3 said it will support Deckoffs candidacy and will accept the resignation of one of its incumbent board members at its 2023 annual meeting to keep the panel at seven members. Founded in 1982, the company has more than a dozen offices around the globe with research, development, and manufacturing operations based in Middletown, RI. Pursuant to the Agreement, the Company has committed to nominate and support Black Diamond Managing Principal Stephen H. Deckoff as an independent Class III director at the Companys 2023 Annual Meeting of Stockholders (the 2023 Annual Meeting), subject to certain conditions. The descriptions of the Agreement contained in this press release do not purport to be complete and are qualified in their entirety by reference to the full text of the Agreement. Mr. Deckoff is the Managing Principal of Black Diamond Capital Management, L.L.C. Quickly find out what the most recently closed or increased positions are. WebMr. | Source: Prior to the founding of Black Diamond in 1995, Mr. Deckoff worked at Kidder, Peabody & Co., Bear Stearns, Chemical Securities and Drexel Burnham Lambert. Prior to launching Black Diamond in 1995, Deckoff worked his way up at different firms, becoming senior vice president of Kidder, Peabody & Co. A resident of the U.S. Virgin Islands, Deckoff donates to various community organizations in the territory. 100, St. Thomas, U.S. Virgin Islands 00802. Additionally, the Company has granted Black Diamond a waiver under the Companys stockholder rights plan allowing Black Diamond to acquire up to 25% of the Companys outstanding common stock. Stephen is Managing Principal and has served as Managing Principal since 12/01/1995. KVH does not assume any obligation to update forward-looking statements to reflect new information and developments. Its not knowing whether there is demand for their brilliant idea in the marketplace. Mr. Deckoff will begin serving as a non-voting observer of the Company's Board of Directors (the "Board"). We remain fully focused on executing against our plan and prudently operating our business as we continue to work with our advisors to review all strategic alternatives., As a large shareholder, I look forward to joining the Board and contributing to the future success of this strong business, said Mr. Deckoff. This press release contains forward-looking statements that involve risks and uncertainties. Blue Sky Digital Outdoor Advertising Fund Fund Data, Sarasin Ie Global Equity Opportunities (Usd) Fund Data, Themelios Ventures Ii-A, L.P. Fund Data. The descriptions of the Agreement contained in this press release do not purport to be complete and are qualified in their entirety by reference to the full text of the Agreement. For mines to work, Russian mine-countermeasures have to not work. KVH TracNet recognized with the 2023 SMART4SEA Connectivity Award; Leading maritime ind.. KVH's New Crew Internet Service Offers Vital Connectivity to Mariners and Enables Vesse.. KVH Supports Seafarers with Free VoIP Calls to Turkey and Syria. Daten ber Ihr Gert und Ihre Internetverbindung, wie Ihre IP-Adresse, Browsing- und Suchaktivitten bei der Nutzung von Yahoo Websites und -Apps. KVH Industries, Inc., is a global leader in mobile connectivity, content, and value-added services with innovative technology designed to enable a mobile world. Terms of Service | Privacy Policy, KVH Industries Announces Support Agreement with Black Diamond Capital Management, Wednesday, March 01, 2023 05:57 PM | Business Wire via QuoteMedia, Wednesday, March 01, 2023 05:57 PM | PR Newswire via QuoteMedia, Wednesday, March 01, 2023 05:49 PM | Business Wire via QuoteMedia, Wednesday, March 01, 2023 05:48 PM | GlobeNewswire via QuoteMedia, Wednesday, March 01, 2023 05:39 PM | Business Wire via QuoteMedia, Wednesday, March 01, 2023 05:37 PM | Newsfile via QuoteMedia, Friday, February 03, 2023 04:47 PM | GlobeNewswire via QuoteMedia, Hope Bancorp to Participate in the Piper Sandler 2023 Western Financial Services Conference, Compass to Present at 2023 Morgan Stanley Technology, Media & Telecom Conference, Faraday Future Promotes Mr. Yueting Jia to Section 16 Officer Position and Executive Officer, Reporting to the Board of Directors, TAAT Granted MCTO for Filing Extension of 2022 Financial Statements, NanoString to Webcast Panel on AI-Based Genomics and Drug Discovery from the 43rd Annual Cowen Health Care Conference, LJS ENT LLC Set to Release Newest Song on Friday, March 3, 2023. Address: One Sound Shore Drive, Suite 200, Greenwich, CT, 6830, United States. Certain of these and other risk factors are discussed in more detail in KVHs Quarterly Report on Form 10-Q filed with the SEC on December 6, 2022. The descriptions of the Agreement contained in this press release do not purport to be complete and are qualified in their entirety by reference to the full text of the Agreement. MIDDLETOWN, R.I., Feb 03, 2023 (GLOBE NEWSWIRE via COMTEX) -- MIDDLETOWN, R.I., Feb. 03, 2023 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (Nasdaq: KVHI) (KVH or the Company), today announced that it has entered into a support agreement (the Agreement) with Black Diamond Capital Management, L.L.C. Contact the source provider Comtex at editorial@comtex.com. WebAgrees to Nominate Black Diamond Managing Principal Stephen Deckoff to Board of Directors at the 2023 Annual Meeting. 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