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Star Equity Holdings, Inc. (NASDAQ:STRR), a micro-cap company with a market capitalization of $6.87 million, announced Thursday that its stockholders have approved the previously announced merger with HSON Merger Sub, Inc., a wholly owned subsidiary of Hudson (NYSE:HUD) Global, Inc. (NASDAQ:HSON). The approval was given at a special meeting of stockholders held the same day. According to InvestingPro analysis, STRR’s financial health score currently stands at ’WEAK’, with the company facing challenges in maintaining profitability.
According to a press release statement and the company’s filing with the Securities and Exchange Commission, the merger is set to be completed at 12:01 a.m. Eastern Time on Friday, subject to the satisfaction or waiver of remaining closing conditions. Upon completion, HSON Merger Sub will merge with and into Star Equity Holdings, with Star continuing as the surviving corporation under the new name "Star Operating Companies, Inc." and becoming a wholly owned subsidiary of Hudson Global.
The merger proposal was approved by a majority of shareholders, with 1,788,515 votes in favor, 90,748 against, and 988 abstentions. As of the record date on July 14, 2025, there were 3,225,545 shares of Star Equity Holdings common stock outstanding and entitled to vote.
No broker non-votes were recorded at the meeting. A separate proposal to adjourn the meeting, if necessary to solicit additional votes, was not submitted, as the merger proposal received sufficient support.
The merger agreement was originally signed on May 21, 2025. Details of the transaction and related arrangements were previously disclosed in a joint proxy statement/prospectus distributed to stockholders of both companies. Jeffrey Eberwein, Chief Executive Officer of Hudson Global and a director and substantial stockholder of Star Equity Holdings, holds approximately 10% of Hudson Global’s common stock.
Star Equity Holdings’ common stock and Series A Cumulative Perpetual Preferred Stock are listed on the NASDAQ Global Market under the symbols STRR and STRRP, respectively.
This article is based on a press release statement and information disclosed in a SEC filing.
In other recent news, Star Equity Holdings reported a substantial improvement in its financial results for the second quarter of 2025. The company saw its revenue increase by 76% compared to the same period last year. Additionally, Star Equity Holdings achieved a net income of $3.5 million, marking a significant turnaround from the net loss of $3.8 million reported in the previous year’s corresponding quarter. These results highlight a positive shift in the company’s financial performance. The recent developments offer investors insights into the company’s ongoing efforts to improve profitability. While the company’s stock saw a slight decline in premarket trading, the focus remains on its improved earnings and revenue figures. Star Equity Holdings’ recent performance could attract attention from analysts and investors alike.
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