Concerned Stockholder Urges SmartRent Leadership to Address Strategy, Communication, and Governance Matters
NEW YORK, Feb. 13, 2024 /PRNewswire/ -- Today, Harris R. Heyer and Michael J. Holder, Partners of 10th Mountain Management LLC ("we"), as Investment Managers to Scout Fund I, LP, which is a beneficial stockholder of SmartRent, Inc. (NYSE:SMRT) ("SmartRent" or the "Company"), issued the following open letter to the SmartRent Board of Directors (the "Board"), Mr. Lucas Haldeman (Chairman & CEO) and all shareholders:
Dear Members of the Board, Mr. Haldeman, and SmartRent shareholders,
Since merging with Fifth Wall Acquisition Corp. I (FWAA), SmartRent's shares have plunged more than 70%1. We believe this alarming decline reflects investor disappointment2, confusion, and skepticism. We are trou