Two Synacor investors that hold almost 10 percent of the company's stock are eyeing a board seat at the TV Everywhere and web portal vendor.
In an SEC filing Tuesday, JEC Capital Partners and Ratio Capital Partners said they might seek represenation on Synacor's board and possibly play a role in landing a new CEO.
The filing was made as Synacor goes through some growing pains in the wake of its public offering in February 2012. The shares opened at $5.75 at that time. Synacor's stock closed Wednesday at $2.35 a share.
Synacor is also in search of a new CEO. In March, the company announced that Ron Frankel, who has led the company since April 2001, will still step down but he plans to stay on the board and serve as an advisor.
Mitchell James has been retained to search for Frankel's successor.
For more:
- Multichannel News has this story
- the Buffalo News has this story
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