Harte Hanks agrees to repurchase all Series A Preferred Shares from Wipro for ~$9.9M cash + 100k shares

HARTE HANKS INC

Repurchasing all 9,926 Series A Convertible Preferred Shares from Wipro; these are convertible into ~16% of common stock fully diluted.
Total consideration: $9,926,000 cash (liquidation value) plus 100,000 shares of common stock; expects close by Q3 2022.
Funding from cash on hand and credit facility borrowings; CEO says deal eliminates dilutive impact and capital restrictions.
Chairman states repurchase enhances shareholder value and investment attractiveness.
Transaction removes preferred conversion rights and associated terms, simplifying capital structure.

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