ZK International Group (ZKIN) said Friday that its board approved a $2 million investment in Recruiter.com Group (RCRT).
The companies signed stock purchase agreements, under which ZK International will purchase 2 million Recruiter.com shares at $1 apiece and get a six-month option to purchase 2 million additional shares at the same price, according to the statement.
ZK International also said it plans to issue a share dividend to its shareholders from the investment in Recruiter.com.
Shares of ZK International were up by more than 8% in recent trading, while Recruiter.com was little changed.
Price: 0.63, Change: +0.07, Percent Change: +12.50
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