SPAR Group: SPAR Group Affirms Intent to Close Highwire Merger

Stockholders Approved Merger on October 25, 2024$2.50 Per Share Merger Consideration Unanimously Approved by SPAR Group Board of DirectorsAUBURN HILLS, Mich., Dec. 11, 2024 (GLOBE NEWSWIRE) -- SPAR Group, Inc. (NASDAQ:SGRP) ("SGRP", "SPAR Group" or the "Corporation"), a provider of merchandising, marketing and distribution services, in response to media and investor inquiries, affirms intent to close the proposed acquisition (the "Proposed Acquisition") by Highwire Capital.As previously announced, SPAR Group entered into the Agreement and Plan of Merger, dated August 30, 2024, by and among SGRP, Highwire Capital and Highwire Merger Co. I, Inc., a wholly owned subsidiary of Highwire Capital, whereby SPAR Group is to be acquired by Highwire Capital in an all cash transaction. SPAR Group's stockholders approved the transaction in a special meeting conducted on October 25, 2024."We remain committed to completing this transaction and delivering value to our shareholders," said Mike Matacunas, President and CEO of SPAR Group. "We are also excited about the performance of our business and the favorable response from clients, partners and employees to this merger.""Highwire Capital is committed to the completion of this transaction," said Rob Wilson, CEO of Highwire Capital. "We are addressing final lender requirements and expect to close soon. The commitment letter with our lenders, which had an expiration date of December 15, 2024, has been extended to January 15, 2025 to allow time for the completion of the remaining requirements."About Highwire CapitalHighwire Capital transforms middle-market businesses by integrating innovative technologies with traditional operating models. By driving efficiency and fostering industry advancements, Highwire Capital revitalizes established entities into leading platforms for disruption and growth.About SPAR Group, Inc.SPAR Group is an innovative services company offering comprehensive merchandising, marketing and distribution solutions to retailers and brands. We provide the resources and analytics that improve brand experiences and transform retail spaces. We offer a unique combination of scale and flexibility with a passion ...Full story available on Benzinga.com