secwatch.observer — SEC 8-K summary
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Issuer:     HireQuest, Inc. (HQI)
CIK:        0001140102
Form:       8-K
Filed at:   2022-11-16T23:59:59+00:00
Accession:  0001437749-22-027538
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

HireQuest agrees to acquire MRINetwork assets for $13.5M, adding 232 executive search franchises
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- Purchase price $13.5M in cash, subject to working capital adjustments and $500K earnout based on revenue.
- Acquisition adds 232 franchise offices with $283M trailing 12-month systemwide sales.
- MRINetwork generated $1.9M standalone adjusted EBITDA for TTM ended Sept 30, 2022.
- Transaction expected to close December 12, 2022, subject to customary conditions.
- Funded with cash on hand and existing credit facility; not subject to financing condition.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1140102/000143774922027538/0001437749-22-027538-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1140102/000143774922027538/hqi20221116_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-027538

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