SC 13D

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

______________

SCHEDULE 13D

(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

RULE 13d-2(a)

(Amendment No. )1

Servotronics, Inc.

(Name of Issuer)

Common Stock, par value $0.20 per share

(Title of Class of Securities)

817732100

(CUSIP Number)

JEFFREY E. EBERWEIN

STAR EQUITY FUND, LP

53 Forest Avenue, Suite 101

Old Greenwich, Connecticut 06870

(203) 489-9504

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

November 2, 2022

(Date of Event Which Requires Filing of This Statement)

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box ☐.

Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

1    The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 817732100

1	NAME OF REPORTING PERSONS STAR EQUITY FUND, LP
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*(a) ☒ (b) ☐
3	SEC USE ONLY
4	SOURCE OF FUNDS WC
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER 128,926
	8	SHARED VOTING POWER - 0 -
	9	SOLE DISPOSITIVE POWER 128,926
	10	SHARED DISPOSITIVE POWER - 0 -
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 128,926
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.16%
14	TYPE OF REPORTING PERSON PN

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CUSIP No. 817732100

1	NAME OF REPORTING PERSONS STAR EQUITY FUND GP, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*(a) ☒ (b) ☐
3	SEC USE ONLY
4	SOURCE OF FUNDS AF
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER 128,926
	8	SHARED VOTING POWER - 0 -
	9	SOLE DISPOSITIVE POWER 128,926
	10	SHARED DISPOSITIVE POWER - 0 -
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 128,926
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.16%
14	TYPE OF REPORTING PERSON OO

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CUSIP No. 817732100

1	NAME OF REPORTING PERSONS STAR INVESTMENT MANAGEMENT, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*(a) ☒ (b) ☐
3	SEC USE ONLY
4	SOURCE OF FUNDS AF
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION CONNECTICUT
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER 128,926
	8	SHARED VOTING POWER - 0 -
	9	SOLE DISPOSITIVE POWER 128,926
	10	SHARED DISPOSITIVE POWER - 0 -
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 128,926
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.16%
14	TYPE OF REPORTING PERSON OO

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CUSIP No. 817732100

1	NAME OF REPORTING PERSONS STAR EQUITY HOLDINGS, INC.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*(a) ☒ (b) ☐
3	SEC USE ONLY
4	SOURCE OF FUNDS AF, OO
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER 128,926
	8	SHARED VOTING POWER - 0 -
	9	SOLE DISPOSITIVE POWER 128,926
	10	SHARED DISPOSITIVE POWER - 0 -
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 128,926
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.16%
14	TYPE OF REPORTING PERSON CO

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CUSIP No. 817732100

1	NAME OF REPORTING PERSONS JEFFREY E. EBERWEIN
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*(a) ☒ (b) ☐
3	SEC USE ONLY
4	SOURCE OF FUNDS AF, PF
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER 128,926
	8	SHARED VOTING POWER - 0 -
	9	SOLE DISPOSITIVE POWER 128,926
	10	SHARED DISPOSITIVE POWER - 0 -
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 128,926
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.16%
14	TYPE OF REPORTING PERSON IN

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CUSIP No. 817732100

1	NAME OF REPORTING PERSONS STAR VALUE, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*(a) ☒ (b) ☐
3	SEC USE ONLY
4	SOURCE OF FUNDS AF
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER 128,926
	8	SHARED VOTING POWER - 0 -
	9	SOLE DISPOSITIVE POWER 128,926
	10	SHARED DISPOSITIVE POWER - 0 -
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 128,926
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.16%
14	TYPE OF REPORTING PERSON OO

The following constitutes the Schedule 13D filed by the undersigned (the “Schedule 13D”).

Item 1.        Security and Issuer.

This statement relates to the common stock, par value $0.20 per share (the “Shares”), of Servotronics, Inc. a Delaware corporation (the “Issuer”). The address of the principal executive offices of the Issuer is 110 Maple Street, Elma, New York 14059.

Item 2.        Identity and Background.

(a) This statement is filed by:

(i)     Star Equity Holdings, Inc., a Delaware corporation (“Star Equity

Holdings”);

(ii)    Star Equity Fund, LP, a Delaware limited partnership (“Star Equity Fund”);

(iii)    Star Equity Fund GP, LLC, a Delaware limited liability company (“Star Equity GP”), which serves as the general partner of Star Equity Fund;

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CUSIP No. 817732100

(iv)     Star Investment Management, LLC, a Connecticut limited liability company (“Star Investment Management”), which serves as the investment manager of Star Equity Fund;

(v)    Jeffrey E. Eberwein, who serves as the manager of Star Equity GP and Star Investment Management; and

(vi)    Star Value, LLC., a Delaware limited liability company (“Star Value”), which is the sole member of Star Equity GP.

Each of the foregoing is referred to as a “Reporting Person” and collectively as the “Reporting Persons.” Each of the Reporting Persons is party to that certain Joint Filing Agreement, as further described in Item 6. Accordingly, the Reporting Persons are hereby filing a joint Schedule 13D.

Set forth on Schedule B annexed hereto (“Schedule B”) is the name and present principal occupation or employment, principal business address and citizenship of the executive officers and directors of Star Equity Holdings. To the best of the Reporting Persons’ knowledge, except as otherwise set forth herein, none of the persons listed on Schedule B beneficially owns any securities of the Issuer or is a party to any contract, agreement or understanding required to be disclosed herein.

(b) The address of the principal office of each of Star Equity Fund, Star Equity GP, Star Investment Management, Star Equity Holdings, Star Value and Mr. Eberwein is 53 Forest Avenue, Suite 101, Old Greenwich, Connecticut 06870.

(c) The principal business of Star Equity Fund is investing in securities. The principal business of Star Equity GP is serving as the general partner of Star Equity Fund. The principal business of Star Investment Management is serving as the investment manager of Star Equity Fund. The principal business of Star Equity Holdings, Inc. is serving as a diversified holding company with various divisions. The principal business of Star Value is serving as sole member of Star Equity GP. The principal occupation of Mr. Eberwein is serving as the Executive Chairman of Star Equity Holdings, and CEO and board member of Hudson Global Inc. He also serves as manager of Star Equity GP and Star Investment Management.

(d) No Reporting Person, nor any person listed on Schedule B, has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

(e)      Other than as set forth herein this paragraph, no Reporting Person, nor any person listed on Schedule B, has during the last five years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Mr. Eberwein and Lone Star Value Management, LLC (“LSVM”), an entity managed by Mr. Eberwein, are subject to an SEC administrative order dated February 24, 2020, (Exchange Act Release No. 5448) (the “Advisers Act Order”) relating to allegations, among other things, that LSVM failed to properly disclose certain specific transactions in advance and obtain client consent for these transactions prior to their completion and that LSVM failed to implement certain written policies and procedures. The Advisers Act Order alleged violations of Section 206(3) and 206(4) of the Investment Advisers Act of 1940 (“Advisers Act”) and Rule 206(4)-7 thereunder by Mr. Eberwein and LSVM. Without admitting or denying the findings, they consented to the Advisers Act Order and agreed to cease and desist from committing or causing any violations of the above-referenced Advisers Act provisions, for LSVM to be censured and to pay civil penalties of $25,000 for Mr. Eberwein and $100,000 for LSVM.

(f)      Mr. Eberwein is a citizen of the United States of America. The citizenship of the persons listed on Schedule B is set forth therein.

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CUSIP No. 817732100

Item 3.    Source and Amount of Funds or Other Consideration.

The Shares purchased by Star Equity Fund were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted, as set forth in Schedule A, which is incorporated by reference herein. The aggregate purchase price of the 128,926 Shares beneficially owned by Star Equity Fund is approximately $1,535,944, excluding brokerage commissions.

Item 4.     Purpose of Transaction.

On October 20, 2022, Star Equity Holdings privately presented the Issuer’s chief executive officer and Board of Directors (“Board”) with a preliminary, non-binding indication of interest (the “IOI”) to explore a potential combination of Star Equity Holdings and the Issuer, subject to the execution of a non-disclosure agreement and further due diligence.

On November 2, 2022, after refusing to even engage in conversations with Star Equity Holdings regarding details of a proposal, the Board responded to Star Equity Holdings that a transaction is not in the best interests of the Issuer’s shareholders.

On November 14, 2022, Star Equity Fund issued a press release (the “Nov. 14, 2022 Letter”) noting the Board’s rejection of Star Equity Holdings’ proposal without genuinely engaging, and strongly questioning the incumbent directors’ commitment to Issuer's shareholders. Star Equity Fund also asserted, the Board’s actions make clear that further change to the Board’s composition needs to occur. A copy of the Nov. 14, 2022 Letter is attached hereto as Exhibit 99.2 and is incorporated herein by reference.

The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.

The Reporting Persons have engaged, and may continue to engage, in general discussions with the Board and the Issuer's management team, including with respect to the composition of the Board, the Issuer’s corporate governance and evaluating all options to maximize shareholder value, including potential business combinations or strategic alternatives involving the Issuer or certain of the Issuer’s businesses or assets, including the potential combination proposed in the IOI.

No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer's financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in additional communications with management and the Board of the Issuer, engaging in discussions with shareholders of the Issuer and others about the Issuer and the Reporting Persons' investment, making proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure (including Board composition) or operations of the Issuer, or potential business combinations or strategic alternatives involving the Issuer or certain of the Issuer’s businesses or assets, including transactions in which the Reporting Persons may seek to participate and potentially engage in (including with other third parties), purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or

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CUSIP No. 817732100

any hedging or similar transaction with respect to the Shares, or changing their intention with respect to any and all matters referred to in this Item 4.

Item 5.        Interest in Securities of the Issuer.

The aggregate percentage of the Shares reported owned by each person named herein is based upon 2,498,697 Shares outstanding as of July 22, 2022, which is the total number of Shares reported outstanding in the Issuer’s Quarterly Report on Form 10Q, filed with the Securities and Exchange Commission on August 15, 2022.

A.    Star Equity Holdings

(a)    Star Equity Holdings, as the parent of Star Value, sole member of Star Management, and limited partner of Star Equity Fund may be deemed the beneficial owner of the 128,926 Shares beneficially owned by Star Equity Fund.

Percentage: Approximately 5.16%

(b)    1. Sole power to vote or direct vote: 128,926
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 128,926
4. Shared power to dispose or direct the disposition: 0

(c)    Star Equity Holdings has not entered into any transactions in the Shares during the past 60 days. The transactions in the Shares on behalf of Star Equity Fund during the past 60 days are set forth in Schedule A and are incorporated herein by reference.

B.    Star Equity Fund

(a)    As of the close of business on November 14, 2022, Star Equity Fund beneficially owned 128,926 Shares.

Percentage: Approximately 5.16%

(b)    1. Sole power to vote or direct vote: 128,926
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 128,926
4. Shared power to dispose or direct the disposition: 0

(c)    The transactions in the Shares by Star Equity Fund during the past 60 days are set forth in Schedule A and are incorporated herein by reference.

C.    Star Equity GP

(a)    Star Equity GP, as the general partner of Star Equity Fund, may be deemed the beneficial owner of the 128,926 Shares owned by Star Equity Fund.

Percentage: Approximately 5.16%

(b)    1. Sole power to vote or direct vote: 128,926
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 128,926
4. Shared power to dispose or direct the disposition: 0

(c)    Star Equity GP has not entered into any transactions in the Shares during the past 60 days. The transactions in the Shares on behalf of Star Equity Fund during the past 60 days are set forth in Schedule A and are incorporated herein by reference.

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CUSIP No. 817732100

D.    Star Investment Management

(a)    Star Investment Management, as the investment manager of Star Equity Fund, may be deemed the beneficial owner of the 128,926 Shares owned by Star Equity Fund.

Percentage: Approximately 5.16%

(b)    1. Sole power to vote or direct vote: 128,926
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 128,926

4. Shared power to dispose or direct the disposition: 0

(c)    Star Investment Management has not entered into any transactions in the Shares during the past 60 days. The transactions in the Shares on behalf of Star Equity Fund during the past 60 days are set forth in Schedule A and are incorporated herein by reference.

E.    Mr. Eberwein

(a)    Mr. Eberwein as the manager of Star Equity GP and Star Equity Management, may be deemed the beneficial owner of the 128,926 Shares owned by Star Equity Fund.

Percentage: Approximately 5.16%

(b)    1. Sole power to vote or direct vote: 128,926

2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 128,926
4. Shared power to dispose or direct the disposition: 0

(c)    Mr. Eberwein has not entered into any transactions in the Shares during the past 60 days The transactions in the shares on behalf of Star Equity Fund during the past 60 days are set forth in Schedule A and are incorporated herein by reference.

F.    Star Value

(a)    Star Value, as the sole member of Star Equity GP may be deemed the beneficial owner of the Shares of common stock owned by Star Equity Fund.

Percentage: Approximately 5.16%

(b)    1. Sole power to vote or direct vote: 128,926
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 128,926
4. Shared power to dispose or direct the disposition: 0

(c)    Star Value has not entered into any transactions in the Shares during the past 60 days. The transactions in the Shares on behalf of Star Equity Fund during the past 60 days are set forth in Schedule A and are incorporated herein by reference.    

Each Reporting Person, as a member of a “group” with the other Reporting Persons for the purposes of Section 13(d)(3) of the Exchange Act, may be deemed the beneficial owner of the Shares directly owned by the other Reporting Persons. Each Reporting Person disclaims beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein.

(d)    No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.

(e)    Not applicable

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Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

On November 14, 2022, the Reporting Persons entered into a Joint Filing Agreement in which the parties agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer. A copy of the Joint Filing Agreement is attached as Exhibit 99.1 hereto and is incorporated herein by reference.

Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer

Item 7. Material to be Filed as Exhibits.

The following items are filed as exhibits:

99.1	Joint Filing Agreement
99.2	Press Release Letter, dated November 14, 2022

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SIGNATURES

After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: November 14, 2022

Star Equity Fund, LP
By:	Star Equity Fund GP, LLC General Partner
By:	/s/ Jeffrey E. Eberwein
	Name:	Jeffrey E. Eberwein
	Title:	Manager

Star Equity Holdings, Inc.
By:	/s/ Richard K Coleman Jr.
	Name:	Richard K. Coleman, Jr.
	Title:	Chief Executive Officer

Star Equity Fund GP, LLC
By:	/s/ Jeffrey E. Eberwein
	Name:	Jeffrey E. Eberwein
	Title:	Manager

Star Investment Management, LLC
By:	/s/ Jeffrey E. Eberwein
	Name:	Jeffrey E. Eberwein
	Title:	Manager

Star Value, LLC
By:	Star Equity Holdings, Inc.
By:	/s/ Jeffrey E. Eberwein
	Name:	Jeffrey E. Eberwein
	Title:	Executive Chairman

/s/ Jeffrey E. Eberwein

Jeffrey E. Eberwein

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SCHEDULE A

Transactions in the Securities of the Issuer During the Past Sixty Days

Shares of Common Stock Purchased/(Sold) Price Per Share ($)1 Date of Purchase / Sale

STAR EQUITY FUND, LP

891	$11.11	9/13/2022
3	$11.11	9/14/2022
106	$11.26	9/22/2022
2	$11.26	9/23/2022
50	$11.26	9/27/2022
212	$11.26	9/29/2022
25	$11.26	10/3/2022
1,184	$11.45	10/4/2022
7,346	$11.51	10/6/2022
1,000	$11.01	10/31/2022
4,038	$10.69	11/2/2022
259	$10.95	11/3/2022
703	$11.21	11/7/2022
1	$11.01	11/9/2022

1The prices reported in this column are weighted average prices. Star Equity Fund, LP undertakes to provide the Issuer and any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased (or sold) at each separate price such shares were purchased.

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SCHEDULE B

Directors and Officers of Star Equity Holdings, Inc.

Name and Position	Principal Occupation	Principal Business Address	Citizenship
Jeffrey E. Eberwein – Director, Executive Chairman of the Board	Chief Executive Officer of Hudson Global Inc. and Executive Chairman of Star Equity Holdings	53 Forest Ave., Suite 101, Old Greenwich, Connecticut 06870	United States
Richard K. Coleman, Jr. – Director, Chief Executive Officer	Chief Executive Officer of Star Equity Holdings	53 Forest Ave., Suite 101, Old Greenwich, Connecticut 06870	United States
Michael A. Cunnion – Director	Health Care Executive	53 Forest Ave., Suite 101, Old Greenwich, Connecticut 06870	United States
John W. Sayward – Director	Retired Health Care Executive, Retired Partner, Nippon Heart Hospital LLC,	53 Forest Ave., Suite 101, Old Greenwich, Connecticut 06870	United States
Mitchell I. Quain – Director	Industrialist	53 Forest Ave., Suite 101, Old Greenwich, Connecticut 06870	United States
John W. Gildea – Director	Retired Principal, Gildea Management Company	53 Forest Ave., Suite 101, Old Greenwich, Connecticut 06870	United States
David Noble - Chief Financial Officer	Chief Financial Officer of Star Equity Holdings	53 Forest Ave., Suite 101, Old Greenwich, Connecticut 06870	United States
Hannah Bible - Chief Legal Officer	Chief Legal Officer of Star Equity Holdings	53 Forest Ave., Suite 101, Old Greenwich, Connecticut 06870	United States

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EX-99.1

Exhibit 99.1

JOINT FILING AGREEMENT

In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including additional amendments thereto) with respect to the shares of Common Stock, par value $0.20 per share, of Servotronics, Inc.. This Joint Filing Agreement shall be filed as an Exhibit to such Statement.

Dated: November 14, 2022

Star Equity Holdings, Inc.
By:	/s/ Richard K Coleman Jr.
	Name:	Richard K. Coleman, Jr.
	Title:	Chief Executive Officer

Star Equity Fund, LP
By:	Star Equity Fund GP, LLC General Partner
By:	/s/ Jeffrey E. Eberwein
	Name:	Jeffrey E. Eberwein
	Title:	Manager

Star Equity Fund GP, LLC
By:	/s/ Jeffrey E. Eberwein
	Name:	Jeffrey E. Eberwein
	Title:	Manager

Star Investment Management, LLC
By:	/s/ Jeffrey E. Eberwein
	Name:	Jeffrey E. Eberwein
	Title:	Manager

Star Value, LLC
By:	Star Equity Holdings, Inc.
By:	/s/ Jeffrey E. Eberwein
	Name:	Jeffrey E. Eberwein
	Title:	Manager

/s/ Jeffrey E. Eberwein

Jeffrey E. Eberwein

EX-99.2

Star Equity Fund Issues Statement on Inaction of Servotronics Board Entrenched SVT Board Dismisses Star Equity’s Proposal in Neglect of its Fiduciary Duty Incumbents Not Focused on Maximizing Shareholder Value Old Greenwich, CT – November 14, 2022 – Star Equity Fund, LP (“Star Equity Fund”, “we”, “our”), a 5.2% shareholder of Servotronics, Inc. (NYSE American: SVT) (“Servotronics” or “the Company”), seeks to unlock shareholder value and improve corporate governance at its portfolio companies. On October 20th, we privately presented Servotronics’ CEO and board of directors (the “Board”) with a preliminary, non-binding indication of interest (the “Proposal”) to explore a potential combination of Star Equity Holdings, Inc. (Nasdaq: STRR) (“Star Equity”) and Servotronics, subject to executing an NDA and further due diligence. Star Equity’s Proposal Would Benefit SVT Shareholders We believe Star Equity would be an excellent merger partner for Servotronics because the combination of the two companies would create significant value for both SVT and STRR shareholders through: • the reduction of public company and corporate overhead costs, • increased operational focus and efficiency, and • ample opportunities for collaboration with Star Equity’s experienced business leaders. We also indicated we would be willing to pay a premium to SVT’s October 19th closing stock price, subject to further due diligence. Entrenched SVT Board Dismisses Star Equity’s Proposal in Neglect of its Fiduciary Duty Although the Board acknowledged receipt of the Proposal, they did not respond for over ten days and would not return multiple phone calls placed to the Company. Then, on November 1st, Servotronics’ CEO, William Farrell, issued a public letter to stakeholders vaguely describing his optimism for the future of Servotronics under his leadership. On November 2nd, the Board finally responded to our proposal after declining to engage in conversations with us, citing “significant risks” and the need to “safeguard shareholders’ best interests” – code for “we’re not even going to talk with you to learn more about your proposal.” We strongly believe William Farrell’s November 1st letter to stakeholders was in direct response to our Proposal and an attempt by him and the incumbent Board to garner support for themselves while denying SVT shareholders a potential value creating opportunity. We are appalled at the Board’s rejection of our Proposal without genuinely engaging or even having a phone call with us, and we strongly question the incumbent directors’ commitment to their fiduciary duty to shareholders. Although we are pleased the Board made some changes earlier this year, we believe those changes were only made because of our activist campaign and resulting pressure, and it is now obvious that further change needs to occur to the Board’s composition. It is clear to us the incumbent Board is still not properly aligned with shareholders and remains entrenched, placing their own self-interest above that of shareholders. We strongly urge the Board to reconsider their response to our Proposal – a proposal we

believe would create significant value for SVT shareholders – and we remain ready to act in the best interest of all SVT shareholders in the future. About Star Equity Fund, LP Star Equity Fund, LP is an investment fund managed by Star Equity Holdings, Inc. Star Equity Fund seeks to unlock shareholder value and improve corporate governance at its portfolio companies. About Star Equity Holdings, Inc. Star Equity Holdings, Inc. (Nasdaq: STRR) is a diversified holding company with three divisions: Healthcare, Construction, and Investments. For more information contact: Star Equity Fund, LP The Equity Group Jeffrey E. Eberwein Lena Cati Portfolio Manager Senior Vice President 203-489-9501 212-836-9611 jeff.eberwein@starequity.com lcati@equityny.com