M&A
confidence high
sentiment positive
materiality 0.85
Star Equity to acquire Harte Hanks for $5.00/share in cash and preferred stock
Star Equity Holdings, Inc.
- Merger values Harte Hanks at $5.00/share, ~$38.4M equity value; up to $19.2M cash, balance in Star 10% Series A Preferred.
- Pro-forma FY2025 revenue ~$384M, adjusted EBITDA ~$30M after ~$10M annualized cost synergies.
- Star's $215M U.S. Federal NOLs to benefit combined company; no Star common stock issued.
- 30-day go-shop; termination fee $1.152M each side; support agreements from HH directors/officers.