m_and_a
confidence high
sentiment positive
materiality 0.90
Hudson Global completes merger with Star Equity; creates $210M revenue diversified holding company
Star Equity Holdings, Inc.
- Star common shares converted to 0.23 Hudson common; Star preferred to Hudson Series A preferred; ~744k Hudson common and ~2.69M preferred shares issued.
- Combined pro-forma annualized revenues of $210M; Hudson holds $240M federal NOLs.
- Hudson to rename to Star Equity Holdings, tickers to STRR/STRRP; board expands from 4 to 7 with three new independent directors.
- Richard Coleman Jr. appointed COO (ex-Star CEO); Hannah Bible appointed Chief Legal Officer (ex-Star CLO).