Star Equity Holdings, Inc. (STRR) and Hudson Global, Inc. have completed their merger, forming a larger, diversified holding company with pro-forma annualized revenue of $210 million.
Stockholders of both companies approved the deal on August 21, 2025.
Hudson Global's common stock continues to trade under "HSON," while its 10% Series A Cumulative Perpetual Preferred Stock begins trading as "HSONP" on August 22. Star's shares are suspended from Nasdaq.
Under the merger terms, each Star common share converts into 0.23 Hudson Global shares, and each Star preferred share converts into one Hudson Global preferred share. The combined entity plans to rename itself Star Equity Holdings, Inc. and update its tickers to STRR and STRRP in the coming weeks.
The merger consolidates four reporting segments, Building Solutions, Business Services, Energy Services, and Investments, without affecting operations, employees, or client relationships. It also improves revenue diversity, enhances market capitalization, increases trading liquidity, and positions the company to leverage $240 million in U.S. federal net operating losses (NOLs), potentially aiding future Russell 2000 index inclusion. The board consists of seven members, six independent, with Jeff Eberwein as CEO and Rick Coleman as COO.
CEO Jeff Eberwein expressed gratitude to both companies' stockholders and directors, highlighting that the merger strengthens size, profitability, and growth opportunities. He emphasized that the combined platform will drive shareholder returns through improved capital structure, broader revenue streams, and efficient use of Hudson Global's NOLs.
STRR is currently trading at $2.13 on the NasdaqGM, with no price movement.
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