On June 24, 2024, Clayton Partners LLC announced that on June 21, 2024, it has entered into a cooperation agreement with Spruce Power Holding Corporation. Clayton Partners added that as of June 21, 2024, Clayton Capital withdrew its slate of nominees for election to the Board of Directors of the Company. Clayton Partners also stated that pursuant to the terms of the cooperation agreement, effective as of June 21, 2024, the Company agreed to increase the size of the Company?s Board of Directors from 6 to 7 directors and to take all necessary actions to appoint Clara Nagy McBane to the Board to fill the directorship resulting from the increase in the size of the Board, to serve as a Class B director with a term expiring at the Company?s 2025 annual meeting of stockholders and to hold office until her successor has been duly elected and qualified or until her earlier, death, resignation or removal.