Romanesque Capital supports sale Harmonic to maximize value

Romanesque Capital Management, a long-term shareholder of Harmonic (HLIT), issued a statement regarding its support of a strategic review aimed at a sale to maximize shareholder value, that reads: “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.”