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In a recent move by PSQ Holdings, Inc., the advertising services company has decided to reinstate the base salaries of three top executives and award a special bonus. This decision was announced following a period of voluntary pay cuts by the executives in support of cost reduction measures. According to InvestingPro data, the company is currently burning through cash rapidly, with a negative EBITDA of $52.5 million in the last twelve months.
The company’s compensation committee concluded on February 26, 2025, to restore the full base salaries for Brad Searle, the Chief Financial Officer, and Sarah Gabel Seifert, the President of the "EveryLifeTM" brand, effective from the next pay period. Additionally, Mike Hebert, the Chief Operating Officer, had his base salary reinstated retroactively from January 1, 2025.
Alongside the reinstatements, the committee approved a one-time special cash relocation bonus of $50,000 for Mr. Hebert, which will be subjected to standard income tax withholdings.
The original salary reductions were part of a broader strategy by PSQ Holdings to reduce costs amid financial challenges. The reinstatements indicate a shift in the company’s approach to compensation as it navigates its current fiscal landscape.
PSQ Holdings, headquartered in West Palm Beach, Florida, operates under the industrial classification of advertising services. The company’s common stock and redeemable warrants are traded on the New York Stock Exchange under the symbols PSQH and PSQH.WS, respectively.
This update on the company’s executive compensation is based on the latest 8-K filing with the U.S. Securities and Exchange Commission, which was filed today. The filing reflects changes in the company’s internal financial decisions and provides insights into the current state of its leadership team’s compensation structure.
In other recent news, PSQ Holdings, Inc. has announced a significant development with the resignation of its Chief Financial Officer, Brad Searle. Searle will transition to a new role within the company, and the search for his successor is underway. Meanwhile, PSQ Holdings has also disclosed a registered direct offering of 7,813,931 shares of Class A common stock at $4.63 per share, expected to generate approximately $36.2 million. The capital from this offering will be used for general corporate purposes, including working capital. Roth Capital Partners (WA:CPAP) is acting as the exclusive placement agent for this transaction. Additionally, Donald Trump Jr. has joined the board of directors, expressing his commitment to the company’s mission. In other developments, the Pulte Family Office has acquired a stake in GrabAGun, a firearm and ammunition retailer. This investment aligns with the Pulte Family Office’s strategic interests and reflects confidence in GrabAGun’s financial growth, which includes a reported revenue of $99.5 million.
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