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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:
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The
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Item 8.01
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Other Events.
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Item 9.01
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Financial Statements and Exhibits.
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(d)
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Exhibits:
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99.1
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104
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SPAR Group, Inc.
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Date: June 6, 2024
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By:
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/s/ Michael R. Matacunas, President & CEO
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Michael R. Matacunas, President & CEO
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Exhibit 99.1
For Immediate Release
June 6, 2024
SPAR Group Announces Closing of its Brazil Holding Company Sale
Completion of Sale Continues Simplification of Operating Structure
AUBURN HILLS, MI - SPAR Group, Inc. (NASDAQ: SGRP) (“SPAR”, “SPAR Group” or the “Company”), a provider of merchandising, marketing and distribution services, announces the closing on June 3, 2024 of the sale of its Brazilian holding company, which in turn owns its majority share in the Brazil joint venture, to a minority shareholder in a leveraged buyout for approximately $12 million USD.
“The closing of the Brazil sale is another step in simplifying our operating structure and bringing cash back into the business. This has been a great joint venture for SPAR and we will maintain our relationship with the business in Brazil as it may add value to clients, but we have streamlined our business and remain bullish on growth and profitability,” said Mike Matacunas, SPAR Group CEO.
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 for client results that separates us from the competition. For more information, please visit the SPAR Group’s website at http://www.sparinc.com.
Media Contact:
Ronald Margulis
RAM Communications
908-272-3930
ron@rampr.com
Investor Relations Contact:
Sandy Martin
Three Part Advisors
214-616-2207
smartin@threepa.com
Document And Entity Information |
Jun. 06, 2024 |
---|---|
Document Information [Line Items] | |
Entity, Registrant Name | SPAR Group, Inc. |
Document, Type | 8-K |
Document, Period End Date | Jun. 06, 2024 |
Entity, Incorporation, State or Country Code | DE |
Entity, File Number | 0-27408 |
Entity, Tax Identification Number | 33-0684451 |
Entity, Address, Address Line One | 1910 Opdyke Court |
Entity, Address, City or Town | Auburn Hills |
Entity, Address, State or Province | MI |
Entity, Address, Postal Zip Code | 48326 |
City Area Code | 248 |
Local Phone Number | 364-7727 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock |
Trading Symbol | SGRP |
Security Exchange Name | NASDAQ |
Entity, Emerging Growth Company | false |
Amendment Flag | false |
Entity, Central Index Key | 0001004989 |
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