Romanesque Capital Supports Sale of Harmonic Inc. to Maximize Shareholder Value

Business Wire 18-Nov-2024 1:15 PM

Romanesque Capital Management, LLC (collectively with its affiliates, "Romanesque Capital"), which is a long-term shareholder of Harmonic, Inc. (NASDAQ:HLIT), today issued the following statement regarding its support of a strategic review aimed at a sale to maximize shareholder value:

"We have long held high conviction in Harmonic's market leading products, valuable partnerships and disruptive innovation, having been invested since 2016. Despite these tailwinds, the company has been unable to realize value in its stock price. This is why we were extremely encouraged to review Ancora Holdings' presentation outlining its analysis of the value opportunity at Harmonic and are in full support of the investor's recommendations. As a long-term shareholder, we have frequently shared similar concerns with leadership regarding the disconnect between the company's stock price and its impressive fundamentals. It's been our view that Harmonic should be part of a larger organization where synergies could be realized. We sincerely hope management and the board of directors begin to listen to shareholder feedback and initiate a review aimed at a value-maximizing sale."

About Romanesque Capital Management, LLC

Romanesque Capital Management, LLC is a family office investment adviser and the manager of Romanesque Capital Partners, a private partnership focused on long term investments in small capitalization growth equities. Drew Burke is the managing member of Romanesque Capital Partners. Romanesque and affiliated investors have been shareholders of Harmonic since 2016 when the current Broadband strategy was first announced.

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