BGSF, Inc. Announces Review of Strategic Alternatives and Suspension of Quarterly Cash Dividend
2024年5月9日 - 5:54AM
ビジネスワイヤ(英語)
BGSF, Inc. (NYSE: BGSF), a national provider of consulting,
managed services, and workforce solutions, today announced that its
Board of Directors has initiated a process to evaluate potential
strategic alternatives and has engaged Houlihan Lokey as its
financial advisors in this endeavor to maximize shareholder value,
and the Company has also suspended its quarterly cash dividend
until this strategic review is complete.
“Given the continued dislocation of BGSF’s public market
valuation, the Board and I believe evaluating strategic
alternatives and suspending the cash dividend are prudent measures
as we continue to look for ways to maximize value for our
shareholders,” said Beth Garvey, Chair, President, and Chief
Executive Officer.
There are no assurances of the timing or outcome of this review
or that this review will result in a merger, divestiture, sale, or
other transaction, and the Company will not comment further until
it determines that disclosure is appropriate or required.
About BGSF
BGSF provides consulting, managed services and workforce
solutions to a variety of industries through its various divisions
in IT, Finance & Accounting, Managed Solutions, and Property
Management (apartment communities and commercial buildings). BGSF
has integrated several regional and national brands achieving
scalable growth. The Company was ranked by Staffing Industry
Analysts as the 121st largest U.S. staffing company and the 52nd
largest IT staffing firm in 2023. The Company’s disciplined
acquisition philosophy, which builds value through both financial
growth and the retention of unique and dedicated talent within
BGSF’s family of companies, has resulted in a seasoned management
team with strong tenure and the ability to offer exceptional
service to our field talent and client partners while building
value for investors. For more information on the Company and its
services, please visit its website at www.bgsf.com.
Forward-Looking Statements
The forward-looking statements in this press release are made
under the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements may
include, but are not limited to, statements regarding our future
financial performance and the expectations and objectives of our
board or management. The Company’s actual results could differ
materially from those indicated by the forward-looking statements
because of various other risks and uncertainties, including, among
other things, risks relating to volatility and uncertainty in the
capital markets, availability of suitable third parties with which
to conduct any strategic transaction, whether the Company will be
able to pursue a strategic transaction, or whether any such
transaction, if pursued, will be completed successfully and on
attractive terms, or at all, the risks associated with undertaking
a review of strategic alternatives, including in respect of
relationships with stockholders, employees, customers, and
suppliers, as well as risks and uncertainties listed in Item 1A of
the Company’s Annual Report on Form 10-K and in the Company’s other
filings and reports with the Securities and Exchange Commission.
All of the risks and uncertainties are beyond the ability of the
Company to control, and in many cases, the Company cannot predict
the risks and uncertainties that could cause its actual results to
differ materially from those indicated by the forward-looking
statements. When used in this press release, the words “allows,”
“believes,” “plans,” “expects,” “estimates,” “should,” “would,”
“may,” “might,” “forward,” “will,” “intends,” “continue,”
“outlook,” “temporarily,” “progressing,” "prospects," and
“anticipates” and similar expressions as they relate to the Company
or its management are intended to identify forward-looking
statements. Except as required by law, the Company is not obligated
to publicly release any revisions to these forward-looking
statements to reflect the events or circumstances after the date of
this press release or to reflect the occurrence of unanticipated
events.
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version on businesswire.com: https://www.businesswire.com/news/home/20240508348941/en/
Steven Hooser or Sandy Martin Three Part Advisors
ir@bgstaffing.com 214.872.2710 or 214.616.2207
BGSF (NYSE:BGSF)
過去 株価チャート
から 4 2024 まで 5 2024
BGSF (NYSE:BGSF)
過去 株価チャート
から 5 2023 まで 5 2024