On January 19, 2024, Wynnefield Capital announced the issuance of a public letter to TechPrecision Corporation's Board of Directors, expressing concern about the lack of transparency surrounding the proposed acquisition of Votaw Precision Technologies. Despite previous requests for a public conference call to explain the acquisition, the board's response has been inadequate, according to Wynnefield. The letter questions the board's decision to proceed without disclosing the transaction's funding strategy and emphasizes the potential for significant dilution to existing stockholders.

Furthermore, Wynnefield is demanding accountability from the board and urging them to engage with shareholders.