{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-25-018341","form_type":"8-K","ticker":"SGRP","cik":"0001004989","company_name":"SPAR Group, Inc.","filed_at":"2025-05-23T23:59:59+00:00","discovered_at":"2026-05-14T18:02:47.132140+00:00","generated_at":"2026-05-20T12:49:09.221058+00:00","sec_items":["1.02"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"SPAR Group terminates merger with Highwire Capital; receives termination fee","bullets":["Merger agreement dated Aug 30, 2024 terminated May 23, 2025 after deal missed closing deadline.","SPAR issued conditional termination notice on May 15; Parent failed to close by May 22, 2025.","Under Section 7.06(b), Highwire Capital must pay Termination Fee to SPAR by May 28, 2025.","Termination fee amount not disclosed; SPAR remains an independent public company."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-25-018341","json":"https://secwatch.observer/filing/0001437749-25-018341.json","markdown":"https://secwatch.observer/filing/0001437749-25-018341.md","text":"https://secwatch.observer/filing/0001437749-25-018341.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1004989/000143774925018341/0001437749-25-018341-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1004989/000143774925018341/sgrp20250522c_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-20T12:49:09.221058+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}