By Connor Hart
Staffing 360 Solutions provided an update to its merger agreement with Atlantic International and one of its subsidiaries, A36 Merger Sub. The provider of based staffing services said that each share of its Series H and Series I preferred stocks will be canceled upon completion of the merger, converting into the right to receive a number of shares of validly issued, fully paid and nonassessable shares of Atlantic common stock. Staffing 360 and Atlantic announced their merger agreement in November, at which time the latter company said it would acquire all of the former's stock. Shares jump 43%, to $3.25, in after-hours trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 13, 2025 18:49 ET (23:49 GMT)
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