Delivers Letter to SMHI Board Highlighting Severe Discount to NAV, Which Has a Broker-appraised Value of Greater than $20 per Share
Outlines Sequential Strategy to Unlock Value for Shareholders
BLOOMFIELD HILLS, Mich., June 22, 2026 /PRNewswire/ -- Jorey Chernett, Founder of Pointilist Family Office and the largest shareholder of SEACOR Marine Holdings Inc. (NYSE: SMHI) ("SEACOR Marine" or the "Company") owning approximately 7.2% of outstanding shares, today delivered a letter to the SMHI Board of Directors (the "Board") calling for the evaluation of strategic alternatives, including an orderly sale of the Company or a dual-track fleet sale.
The letter addresses the severe discount to NAV, which has a broker-appraised value of greater than $20.00 per share, and the extreme structural value dislocation due to operational and utilization failures at SEACOR Marine. Chernett also outlines a disciplined, sequential strategy to unlock value for shareholders. Specifically:
- SEACOR Marine currently trades at a public market capitalization of approximately $181 million ($6.68 per share), while SEACOR has an enterprise value of more than $1 billion that is not being captured. This equity valuation represents an egregious discount to the Net Asset Value.
- To generate Free Cash Flow representative of the value of the Company's modern fleet, execution and operational management must improve materially. Specifically, corporate overhead must be cut aggressively and immediately to preserve vital cash runway and demonstrate to the market that management is finally aligned with shareholder reality.
- Management must execute the immediate sale to a regional operator or relocate the premium liftboats in the Middle East out of the region now to maintain operational flexibility while contemporaneously pursuing a sale.
- Cash proceeds from the immediate liftboat transactions and G&A savings must be directed toward paying off a large portion of the outstanding debt. The Company's current interest expense is an unsustainable drain, costing shareholders approximately $100,000 per day.
- The Board must pursue a sale of the highly desirable and clean fleet of PSVs and FSVs to a strategic buyer fleet for either cash or stock of the acquirer. Preserving these segments together ensures maximum leverage with strategic suitors, who can acquire the core fleet for either cash or stock of the acquirer.
The full text of the letter can be found here.
Media Contact:
ASC Advisors
Taylor Ingraham (203 992 1230)
tingraham@ascadvisors.com
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SOURCE Jorey Chernett
