On June 8, 2022, Edenbrook Capital, LLC sent a letter to Sonia Dulá, Rick Neuman, and John Engelman, the members of the Special Committee of Hemisphere Media Group, Inc.'s Board, expressing Edenbrook's strong belief, in light of financial disclosures in the Company's pre-marketing lender presentation, that the Company's entry into an agreement and plan of merger to have the Company taken private at $7.00 per share in cash significantly undervalues the Company. Edenbrook Capital stated that the letter details and provides support for Edenbrook Capital's view that a deal to take the Company private at anything less than $16.00-23.00 per share would raise serious questions about the process, motivations and conflicts of interest surrounding the proposed transaction.