CULP Secures Agreement with Largest Shareholder, 22NW

Jun 10, 2025

Culp Inc. (CULP, Financial) aligns with major shareholder 22NW, LP in a strategic agreement.
22NW, LP pledges support for Culp in critical meetings set for 2025 and 2026.
New board nominees, Doug Collier and Lynn Heatherton, are part of the cooperation accord.

Strategic Collaboration with 22NW, LP

Culp (CULP) has entered into a pivotal multi-year cooperation agreement with its largest shareholder, 22NW, LP. This Seattle-based firm has committed to backing Culp during key shareholder meetings scheduled for 2025 and 2026. This strategic alliance reflects a significant step for Culp in reinforcing its governance and aligning with shareholder interests.

Board Strengthening Through New Nominations

As an essential component of this agreement, Doug Collier and Lynn Heatherton have been nominated for election to the company's board. This move is poised to bring fresh perspectives and expertise to Culp's leadership team, potentially driving enhanced decision-making and strategic direction.

With these developments, investors can anticipate a more robust governance framework aimed at maximizing shareholder value while aligning with the insights and support of 22NW, LP.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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