Fund 1 Investments proposed to acquire Destination XL Group (DXLG)

Market Cap: $141 million | Destination XL Group, Inc., together with its subsidiaries, operates as a specialty retailer of big and tall men's clothing and shoes in the United States. 

Fund 1 Investments

• On June 26, 2024, Fund 1 Investments (9.8%) stated that it intends to engage in discussions with the board and management team regarding operational and strategic opportunities for the company to enhance stockholder value. Source
• On December 19, 2024, Fund 1 Investments proposed acquiring all outstanding shares of the company not already owned by them at $3.00 per share in cash, a 34% premium to the December 18 closing price, subject to due diligence and a definitive agreement, but without a financing condition. Fund 1 Investments argued the company would perform better as a private entity, offering stockholders a derisked investment with premium valuation and liquidity. They also expressed readiness for expedited due diligence and confidentiality arrangements. Source

Cannell Capital

On May 7, 2018, Cannell Capital nominated four candidates for the board at the 2018 Annual Meeting. On June 11, 2018, the company agreed to appoint one of Cannell's nominees to the board, leading Cannell to withdraw its nominations and support the company's proposals. On January 29, 2020, Cannell criticized the board and proposed the resignation of three members, intending to withhold votes if they remained. By July 29, 2020, Cannell decreased its stake to 4.51%.

Red Mountain Capital Partners

In January 2014, Willem T. Mesdag, Managing Partner of Red Mountain Capital Partners, secured a board seat through a mutual agreement, representing a 9.5% stake. On April 6, 2018, Red Mountain Capital Partners increased its stake to 16.5%.