secwatch.observer — SEC 8-K summary
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Issuer:     Startek, Inc. (—)
CIK:        0001031029
Form:       8-K
Filed at:   2023-04-07T23:59:59+00:00
Accession:  0001437749-23-009770
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Startek completes sale of 51% stake in CCC for ~$69M cash; plans $55M debt prepayment
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- Sold 51% interest in Contact Center Company (CCC) to Solutions; received ~$68.9M in cash, subject to working capital adjustments.
- Enterprise value for Startek's stake was ~$61.5M; total CCC enterprise value ~$120M (SAR 450M).
- Expects pre-tax gain on sale of ~$15.5M; tax impact ~$6.6M.
- Will apply $55M of proceeds to prepay senior term loan facility to improve balance sheet.
- CEO Bharat Rao says this results in the strongest balance sheet in five years; focus on core business.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031029/000143774923009770/0001437749-23-009770-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031029/000143774923009770/srt20230407_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-009770

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