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Following this transaction, Brown holds 2,453,993 shares directly, with additional indirect holdings through Innovative Global Technologies LLC and SPAR Business Services, Inc., amounting to 3,000,000 and 992,549 shares, respectively. Brown’s indirect holdings through Innovative Global Technologies LLC are due to his role as a manager, while his involvement with SPAR Business Services, Inc. is as a controlling officer/director and significant stockholder. Additionally, the filing notes that Brown disclaims beneficial ownership of 40,000 shares owned by his wife, Jean Brown, and shares deemed beneficially owned in a defined benefit pension trust. The $44.38M market cap company trades at an attractive P/E ratio of 3.85, with InvestingPro subscribers having access to 8 additional key insights and a comprehensive Pro Research Report about SPAR Group’s financial health and growth prospects. The $44.38M market cap company trades at an attractive P/E ratio of 3.85, with InvestingPro subscribers having access to 8 additional key insights and a comprehensive Pro Research Report about SPAR Group’s financial health and growth prospects.
Following this transaction, Brown holds 2,453,993 shares directly, with additional indirect holdings through Innovative Global Technologies LLC and SPAR Business Services, Inc., amounting to 3,000,000 and 992,549 shares, respectively. Brown’s indirect holdings through Innovative Global Technologies LLC are due to his role as a manager, while his involvement with SPAR Business Services, Inc. is as a controlling officer/director and significant stockholder.
Additionally, the filing notes that Brown disclaims beneficial ownership of 40,000 shares owned by his wife, Jean Brown, and shares deemed beneficially owned in a defined benefit pension trust.
In other recent news, SPAR Group, a global merchandising and marketing services provider, has confirmed its merger with Highwire Capital. This development follows the unanimous approval of the merger by SPAR Group’s Board of Directors. The all-cash acquisition is set to proceed, marking a significant turning point for the company.
Highwire Capital, known for integrating advanced technologies into traditional business models to drive efficiency and growth, has extended its commitment letter with lenders to facilitate the final stages of the acquisition. The merger is part of SPAR Group’s strategic initiatives to expand its reach and capabilities in providing comprehensive merchandising, marketing, and distribution solutions.
Furthermore, SPAR Group’s shareholders are set to receive $2.50 in cash per share as part of the merger deal. However, Apollo Technology Capital Corp., a shareholder in SPAR, is voicing concerns about Highwire’s ability to secure financing and potential risks to SPAR if the deal falls through. Despite these concerns, the recent developments suggest a strong commitment from both SPAR Group and Highwire Capital to finalize the merger.
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