secwatch.observer — SEC 8-K summary
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Issuer:     STAR EQUITY HOLDINGS, INC. (—)
CIK:        0000707388
Form:       8-K/A
Filed at:   2025-03-05T23:59:59+00:00
Accession:  0000707388-25-000025
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.02, 7.01, 2.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Star Equity acquires Alliance Drilling Tools for $12.65M EV; preliminary Q4 2024 revenue $17.1M
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- Acquired Alliance Drilling Tools for $12.65M EV (cash-free, debt-free); paid $4.9M cash and 775,000 Series A preferred shares ($7.75M liquidation value).
- ADT generated ~$10.5M revenue, 48% gross margin, $2.4M Adjusted EBITDA for FY2024; serves oil/gas, geothermal, mining, water-well industries.
- Preliminary Q4 2024 revenue $17.1M (vs $14.1M Q4 2023), gross profit $4.4M, non-GAAP adj. EBITDA $1.1M (vs -$0.1M).
- KBS Builders signed two contracts totaling $5.2M for modular housing units in Maine; deliveries begin Q1/Q3 2025.
- Financing includes $3M line of credit and $639k term loan from Austin Financial Services, maturing March 2028.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/707388/000070738825000025/0000707388-25-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/707388/000070738825000025/strr-20250303.htm
  HTML page:      https://secwatch.observer/filing/0000707388-25-000025

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer