In August 2024, GSE Systems announced a finalized all-cash merger agreement with Pelican Energy Partners.

The merger agreement values GSE Systems at $4.10 per share, representing a 50% premium over its closing price on August 7, 2024.

Upon completion of the merger, GSE Systems will become a private entity and will be delisted from Nasdaq.

Bradley L. Radoff and his affiliates, who own approximately 9.9% of GSE Systems Inc.'s outstanding shares, have expressed opposition to the merger.

Radoff sent a letter to GSE Systems' Board of Directors opposing the proposed merger with Pelican Energy Partners.

He argues that the sale significantly undervalues GSE Systems and prioritizes leadership's interests over those of shareholders.