Star Equity to acquire Harte Hanks for USD 5 per share, valuing deal at USD 38.4 million
HHS•Deal terms
Star Equity said it will acquire Harte Hanks for USD 5 per share, valuing the equity at USD 38.4 million.
The consideration is split 50% cash and 50% in Star Equity 10% Series A Cumulative Perpetual Preferred Stock (STRRP).
The stock election offers USD 5 cash per share, capped at about USD 19.2 million total cash. The alternative election offers 0.5 shares of STRRP per Harte Hanks share, based on a USD 10 liquidation preference.
Timing and conditions
Closing is targeted in 60-90 days, subject to Harte Hanks shareholder approval, financing availability, and other customary conditions.
