Harte Hanks to Be Acquired by Star Equity for $5.00/Share — 100% Premium, 30-Day Go-Shop
HHS sits 90% above its 52-week low of $2 on elevated volume (2.3× avg).
Summary
Harte Hanks agreed to be acquired by Star Equity Holdings for $5.00 per share in cash or preferred stock, a 100% premium. The deal includes a 30-day go-shop period and is expected to close in 60-90 days.
Key Events · M&A and Partnerships · HHS
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Definitive Merger Agreement Signed
On August 14, 2026, Harte Hanks entered into a merger agreement with Star Equity Holdings. Shareholders will receive $5.00 per share in cash or 0.50 shares of Star Equity 10% Series A Cumulative Perpetual Preferred Stock (liquidation preference $10.00).
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100% Premium to Unaffected Price
The $5.00 per share offer represents an approximately 100% premium to Harte Hanks' unaffected share price, delivering immediate value to shareholders.
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Cash Consideration Capped at $19.2M
The aggregate cash consideration is capped at $19.2 million, with the remainder payable in Star Equity preferred stock. Elections are subject to proration if cash elections exceed the cap.
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30-Day Go-Shop Period
Harte Hanks may actively solicit alternative acquisition proposals until September 13, 2026. The board may continue discussions with qualifying parties after that date.
Analysis · HHS · Trade & Services
A definitive merger agreement with Star Equity Holdings values Harte Hanks at $5.00 per share, a 100% premium to the unaffected price. Shareholders may elect cash or Star Equity preferred stock, subject to a $19.2 million cash cap. The deal includes a 30-day go-shop period, a $1.15 million termination fee, and requires debt financing of up to $15 million. This is a transformative event for the company, providing immediate liquidity and a path to address structural challenges as a small public company.
At the time of this filing, HHS was trading at $3.79 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $28.2M. The 52-week trading range was $2.00 to $4.50. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.