Safeguard Scientifics, Inc. (NYSE:SFE) Q3 2023 Earnings Call Transcript
Safeguard Scientifics, Inc. (NYSE:SFE) Q3 2023 Earnings Call Transcript November 4, 2023
Operator: Greetings, and welcome to the Safeguard Scientifics Third Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded. It is now my pleasure to introduce your host, Matt Barnard, General Counsel. Please proceed, sir.
Matt Barnard: Good afternoon, and thank you for joining us for this presentation of Safeguard Scientifics' Third Quarter 2023 Financial Results. Joining me on today's call and webcast are Eric Salzman, our Chief Executive Officer; and Mark Herndon, our Chief Financial Officer. Following our prepared remarks, we will open up the call to your questions. As always, today's presentation includes forward-looking statements. Reliance on forward-looking statements involve certain risks and uncertainties, including, but not limited to, uncertainty of the outcomes of corporate strategic transactions, if any, uncertainty of our efforts to execute on and implement reverse and forward splits of our so that we can cease the registration of our common stock under the Securities Exchange Act of 1934 and delist our shares of common stock from trading on NASDAQ.
Uncertainty of the future performance of our companies, our ability to make good decisions about the monetization of our companies, the ongoing support of our companies, our inability to control our companies. fluctuations in the market prices of any of our companies that are publicly traded and the effect of regulatory and economic conditions generally and other uncertainties described in our filings with the SEC. Many of these factors are beyond our ability to predict or control. As a result of these other factors, the past financial performance should not be relied on as an indication of future performance. During the course of today's call, words such as expect, anticipate, believe and intend will used in our discussion of goals or events in the future.
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Management can't provide any assurance that future results will be as described in our forward-looking statements. We encourage you to read Safeguard's filings with the SEC on our Form 10-Q, which describe in detail the risks and uncertainties associated with managing our business. The company does not assume any obligation to update any forward-looking statements made today. With that, I would now like to introduce Eric.
Eric Salzman: Thanks, Matt. Thanks for joining us this afternoon for our Q3 2023 earnings call. Today, we will walk you through the rationale and key [technical difficulty] of our Going Dark Transaction, our thoughts around a potential Q4 2022 dividend, a brief update on our remaining portfolio of companies, and then Mark will run through the financials, and we'll open up the call to questions. I will start with our Going Dark Transaction. We filed our definitive proxy this afternoon, which details the various elements of our plan to delist from NASDAQ and become a non-reporting company. As explained in the proxy, we've concluded that the costs of being public have become too burdensome and the benefits very limited, life of our strategy to monetize our remaining ownership interest and return maximum value to our shareholders.
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