SPAR Group enters non-binding LOI to be acquired by Highwire Capital for $2.50/sh ($58M)

SPAR Group, Inc.

Highwire Capital offers $2.50 per share cash, ~$58M total, for all SPAR stock; represents 19% premium over 20-day avg and 107% over 12-month avg.
LOI is non-binding; execution requires definitive merger agreement, stockholder vote, regulatory approvals, and completion of due diligence.
Board and Special Committee unanimously approved LOI after 18+ month strategic review with Lincoln International; CEO states executive team expected to be retained.
45-day exclusivity period for Highwire; SPAR may consider other offers if fiduciary duty requires, but otherwise no competing discussions.

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