Hudson Global and Star Equity Holdings have successfully completed their merger forming a larger, diversified holding company.
The merger creates a multi-sector holding company with pro-forma annualized revenues of $210 million and increased revenue diversity.
Hudson Global's board of directors now consists of seven members, with Jeff Eberwein as CEO and Rick Coleman as COO.
Successful Merger Completion
The merger between Hudson Global and Star Equity Holdings has been successfully completed, forming a larger, diversified holding company.
Increased Revenue and Market Cap
The merger results in pro-forma annualized revenues of $210 million and increased market capitalization.
Change in Ticker Symbols
Hudson Global's common stock will continue to trade under the symbol 'HSON' while the 10% Series A Cumulative Perpetual Preferred Stock will trade under the ticker symbol 'HSONP'.
- The merger positions the combined company to leverage its increased size, diversified revenue streams, and improved profitability.
- It provides a better path for potential addition to the Russell 2000 index and strengthens the utilization of Hudson Global's $240 million U.S. federal net operating losses (NOLs).
The successful merger between Hudson Global and Star Equity Holdings sets the stage for enhanced growth opportunities, increased market presence, and potential stockholder value creation in the future.