AstroNova appoints Shawn Kravetz to board under cooperation agreement

AstroNova, Inc. (NASDAQ: ALOT) appointed Shawn Kravetz to its board of directors effective immediately as part of a cooperation agreement with Askeladden Capital Management LLC, according to a company statement.

Kravetz will serve as an independent director and member of the Nominating and Governance Committee. Askeladden had nominated Kravetz to stand for election as a director before the cooperation agreement was reached.

The West Warwick, Rhode Island-based company provides specialized print technology solutions for data visualization across aerospace and product identification markets.

Kravetz founded Esplanade Capital LLC in 1999 and serves as its president and chief investment officer. He currently sits on the board of Spruce Power Holding Corp. (NYSE: SPRU) and previously served on Nevada Gold & Casinos Inc.'s board until its sale in September 2019. He holds degrees from Harvard College and Harvard Business School.

Under the cooperation agreement, Askeladden agreed to standstill and voting commitments and will support the board's full slate of directors at the 2025 annual meeting of shareholders. The agreement will be filed with the Securities and Exchange Commission as an exhibit to a Form 8-K.

AstroNova said it expects to announce a new record date and meeting date for its 2025 annual meeting of shareholders.

The company's Product Identification segment provides digital marking and identification solutions for commercial printers and brand owners. Its Aerospace segment offers airborne printing solutions, avionics and data acquisition products for the aviation industry.

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