# EDGAR Filing Document

**Accession Number:** 0001522067
**File Stem:** 0001193805-23-000329
**Filing Date:** 2023-3
**Character Count:** 13773
**Document Hash:** c4285fc57978117a94599e49bd128d9b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193805-23-000329.hdr.sgml**: 20230313

**ACCESSION NUMBER**: 0001193805-23-000329

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230309

**FILED AS OF DATE**: 20230313

**DATE AS OF CHANGE**: 20230313

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** SPH Group LLC
- **CENTRAL INDEX KEY:** 0001522067

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35319
- **FILM NUMBER:** 23729029

**BUSINESS ADDRESS:**
- **STREET 1:** C/O STEEL PARTNERS HOLDINGS L.P.
- **STREET 2:** 590 MADISON AVENUE, 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212) 520-2300

**MAIL ADDRESS:**
- **STREET 1:** C/O STEEL PARTNERS HOLDINGS L.P.
- **STREET 2:** 590 MADISON AVENUE, 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** STEEL PARTNERS HOLDINGS L.P.
- **CENTRAL INDEX KEY:** 0001452857
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS PRIMARY METAL PRODUCTS [3390]
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35319
- **FILM NUMBER:** 23729030

**BUSINESS ADDRESS:**
- **STREET 1:** 590 MADISON AVENUE, 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 212-520-2300

**MAIL ADDRESS:**
- **STREET 1:** 590 MADISON AVENUE, 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

**FORMER NAME:**
- **FORMER CONFORMED NAME:** WEBFINANCIAL L.P.
- **DATE OF NAME CHANGE:** 20081229
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** WebFinancial Holding Corp
- **CENTRAL INDEX KEY:** 0001662159
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35319
- **FILM NUMBER:** 23729028

**BUSINESS ADDRESS:**
- **STREET 1:** 590 MADISON AVENUE, 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212) 520-2300

**MAIL ADDRESS:**
- **STREET 1:** 590 MADISON AVENUE, 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Steel Partners Holdings GP Inc.
- **CENTRAL INDEX KEY:** 0001537666
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35319
- **FILM NUMBER:** 23729027

**BUSINESS ADDRESS:**
- **STREET 1:** 590 MADISON AVENUE
- **STREET 2:** 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212) 520-2300

**MAIL ADDRESS:**
- **STREET 1:** 590 MADISON AVENUE
- **STREET 2:** 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Steel Connect, Inc.
- **CENTRAL INDEX KEY:** 0000914712
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-BUSINESS SERVICES, NEC [7389]
- **IRS NUMBER:** 042921333
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**BUSINESS ADDRESS:**
- **STREET 1:** 1601 TRAPELO ROAD
- **STREET 2:** SUITE 170
- **CITY:** WALTHAM
- **STATE:** MA
- **ZIP:** 02451
- **BUSINESS PHONE:** 781-663-5000

**MAIL ADDRESS:**
- **STREET 1:** 1601 TRAPELO ROAD
- **STREET 2:** SUITE 170
- **CITY:** WALTHAM
- **STATE:** MA
- **ZIP:** 02451

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ModusLink Global Solutions Inc
- **DATE OF NAME CHANGE:** 20080929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CMGI INC
- **DATE OF NAME CHANGE:** 19990108

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CMG INFORMATION SERVICES INC
- **DATE OF NAME CHANGE:** 19981007

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>STEEL PARTNERS HOLDINGS L.P.<br><sub>(Last) (First) (Middle)</sub><br>590 MADISON AVENUE, 32ND FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10022<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Steel Connect, Inc. [ STCN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>SPH Group LLC<br><sub>(Last) (First) (Middle)</sub><br>C/O STEEL PARTNERS HOLDINGS L.P.<br>590 MADISON AVENUE, 32ND FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10022<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Steel Connect, Inc. [ STCN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>WebFinancial Holding Corp<br><sub>(Last) (First) (Middle)</sub><br>590 MADISON AVENUE, 32ND FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10022<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Steel Connect, Inc. [ STCN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Steel Partners Holdings GP Inc.<br><sub>(Last) (First) (Middle)</sub><br>C/O STEEL PARTNERS HOLDINGS L.P.<br>590 MADISON AVENUE, 32ND FLOOR<br><sub>(Street)</sub><br>NEW YORK, NY 10022<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Steel Connect, Inc. [ STCN ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 7.50% Convertible Senior Note due March 1, 2024<sup>(1)</sup> | 2.37<sup>(3)</sup> | 2023-03-09 |  | D<sup>(4)</sup> |  |  |  | <sup>(3)</sup> | 2024-03-01 | Common Stock, par value $0.01 | 6293706<sup>(3)</sup> | $14940000 | 0 | I<sup>(2)</sup> | By WebFinancial Holding Corporation |
| 7.50% Convertible Senior Note due September 1, 2024<sup>(1)</sup> | 2.37<sup>(3)</sup> | 2023-03-09 |  | A<sup>(4)</sup> |  |  |  | <sup>(3)</sup> | 2024-09-01 | Common Stock, par value $0.01 | 5872441<sup>(3)</sup> | $13940000 |  | I<sup>(2)</sup> | By WebFinancial Holding Corporation |

---

### Footnotes:

(1) This Form 4 is filed jointly by Steel Partners Holdings L.P. ("Steel Holdings"), SPH Group LLC ("SPHG"), WebFinancial Holding Corporation ("WebFinancial") and Steel Partners Holdings GP Inc. ("Steel Holdings GP") (collectively, the "Reporting Persons"). Steel Holdings owns 99% of the membership interests of SPHG. SPHG is the owner of 100% of the outstanding shares of common stock of WebFinancial. Steel Holdings GP is the general partner of Steel Holdings and the managing member of SPHG. Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding shares of Common Stock (the "Section 13(d) Group").

(2) Represents securities owned directly by WebFinancial. By virtue of their relationships with WebFinancial discussed in Footnote 1, each of Steel Holdings, SPHG and Steel Holdings GP may be deemed to beneficially own the securities owned directly by WebFinancial. Each of Steel Holdings, SPHG and Steel Holdings GP disclaims beneficial ownership of the securities owned directly by WebFinancial.

(3) WebFinancial owns $13,940,000 principal amount of the Issuer's 7.50% Convertible Senior Notes due September 1, 2024 (the "2024 Notes"). Under the terms of the 2024 Notes, each $1,000 of principal of the 2024 Notes will initially be convertible into 421.2655 shares of Common Stock, which is equivalent to an initial conversion price of approximately $2.37 per share, subject to adjustment upon the occurrence of certain events, or, if the Issuer obtains the required consent from its stockholders, into shares, cash or a combination of cash and shares, at the Issuer's election.

(4) The 2024 Notes were issued in February 2019 in the aggregate principal amount of $14,940,000. On March 9, 2023, the 2024 Notes were amended to extend the maturity date from March 1, 2024 to September 1, 2024.

**Remarks:**
Each of Steel Holdings, SPHG, WebFinancial, Steel Holdings GP and the other members of the Section 13(d) Group may be deemed a director by deputization due to their relationship with certain of the directors on the board of directors of the Issuer.

**Signature:** By: Steel Partners Holdings L.P., By: Steel Partners Holdings GP Inc., General Partner, By: /s/ Jason Wong, Chief Financial Officer  
**Date:** 2023-03-13

**Signature:** By: SPH Group LLC, By: Steel Partners Holdings GP Inc., Managing Member, By: /s/ Jason Wong, Chief Financial Officer  
**Date:** 2023-03-13

**Signature:** By: WebFinancial Holding Corporation, By: /s/ Jason Wong, Chief Financial Officer  
**Date:** 2023-03-13

**Signature:** By: Steel Partners Holdings GP Inc., By: /s/ Jason Wong, Chief Financial Officer  
**Date:** 2023-03-13

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**