Star Equity to merge with Hudson Global; shareholders get 0.23 HSON shares per STRR share

STAR EQUITY HOLDINGS, INC.

Combined company pro-forma annualized revenues of ~$210M; ~$2M annual cost synergies expected within 12 months.
Hudson shareholders own ~79%, Star shareholders ~21% of NewCo's estimated 3.49M shares outstanding.
NewCo targets ~$40M adjusted EBITDA by 2030; Hudson's $240M NOL expected to be better utilized.
Closing expected H2 2025 subject to stockholder and regulatory approvals; boards unanimously recommend.
NewCo board expands to 7 members; Jeff Eberwein as CEO, Rick Coleman as COO.

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