SCHEDULE: Star Equity Holdings Completes Merger with Hudson Global

Star Equity Holdings, Inc. has completed its merger with Hudson Global, Inc., becoming a wholly-owned subsidiary of Hudson Global.

Summary

• Star Equity Holdings, Inc. completed its merger with HSON Merger Sub, Inc., a wholly-owned subsidiary of Hudson Global, Inc., on August 22, 2025.
• Star Equity Holdings, Inc. is now a wholly-owned subsidiary of Hudson Global, Inc.
• Each share of Star common stock was converted into the right to receive 0.23 shares of Hudson common stock.
• Each share of Star preferred stock was converted into the right to receive one share of Hudson 10% Series A Cumulative Perpetual preferred stock.
• Star's common stock was delisted from Nasdaq and deregistered under the Securities Exchange Act of 1934 following the merger.
• Jeffrey E. Eberwein ceased to be a beneficial owner of more than five percent of Star Equity Holdings, Inc. common stock on August 22, 2025, holding 0 shares.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as a significant corporate transaction has been successfully completed, providing a clear path forward for Star Equity's former shareholders through their new holdings in Hudson Global. The delisting and deregistration are expected consequences of such a merger.

Positives

• The merger transaction, previously announced, has been successfully completed.
• Former Star Equity shareholders received shares in Hudson Global, Inc., providing continued equity exposure in the combined entity.

Negatives

• Star Equity Holdings, Inc. common stock has been delisted from Nasdaq, removing its independent public trading status.
• Star Equity Holdings, Inc. has been deregistered under the Securities Exchange Act of 1934.

Future Outlook

The filing does not contain forward-looking statements or guidance, as it reports a completed historical event.

Industry Context

The completion of this merger signifies a consolidation event within the industry in which Star Equity Holdings and Hudson Global operate. Such transactions are common strategic moves aimed at achieving synergies, expanding market reach, or streamlining operations.

Stakeholder Impact

• Shareholders (former Star Equity): Will now hold shares in Hudson Global, Inc., changing their investment vehicle and potentially the risk/return profile. They will no longer hold shares in an independently traded entity.
• Employees (Star Equity): Star Equity is now a wholly-owned subsidiary of Hudson Global, which could lead to integration efforts, potential restructuring, or changes in corporate culture and reporting lines.
• Customers/Suppliers (Star Equity): Operations will continue under Hudson Global's ownership, potentially leading to changes in service offerings, supply chain management, or branding over time.

Next Steps

• Former Star Equity shareholders will receive Hudson Global common and/or preferred stock in exchange for their Star shares.
• Hudson Global will integrate Star Equity Holdings, Inc. as a wholly-owned subsidiary.

Key Dates

Recommendation

For former Star Equity shareholders, the transaction is complete, and they now hold Hudson Global shares. The recommendation is 'hold' on Hudson Global shares, as this filing only confirms the merger's completion and does not provide new financial data or strategic insights into Hudson Global's future performance to warrant a 'buy' or 'sell' decision. Further analysis of Hudson Global's financials and strategic outlook would be required.

Keywords

Star Equity Holdings, Hudson Global, Merger, Acquisition, Delisting, Deregistration, Schedule 13D, Corporate Action, Common Stock, Preferred Stock