Hudson Global and Star Equity Holdings Complete Merger, Forming Diversified Holding Company with $210M Pro-Forma Annualized Revenues

Hudson Global (HSON) has merged with Star Equity Holdings, forming a diversified holding company with pro-forma annualized revenues of $210 million and potential utilization of $240 million in U.S. federal net operating losses (NOLs). The merged entity will retain the HSON ticker symbol initially, but plans to transition to STRR in the coming weeks. Hudson Global aims to rebrand itself as Star Equity Holdings and update its stock symbols to STRR for common stock and STRRP for preferred stock.

Hudson Global, Inc. (Nasdaq: HSON) and Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) have completed their merger, creating a larger, diversified holding company. The merger, announced on August 22, 2025, was approved by the stockholders of both companies at their respective meetings held on August 21, 2025 [1].

The new entity will retain the HSON ticker symbol initially but plans to transition to STRR and STRRP for common and preferred stock, respectively, in the coming weeks. Hudson Global expects to change its name to Star Equity Holdings, Inc. [1].

The merger creates a holding company with pro-forma annualized revenues of $210 million and greater revenue diversity. It also increases the likelihood of utilizing Hudson Global’s $240 million U.S. federal net operating losses (NOLs) [1].

Hudson Global's four reporting segments—Building Solutions, Business Services, Energy Services, and Investments—will remain largely unchanged, with no material impact on clients, employees, or brand names of any of the operating businesses [1].

Jeff Eberwein, CEO of Hudson Global, expressed excitement about the new opportunities the merger creates, highlighting the combined company's size, diversified revenue streams, profitability, stock trading liquidity, increased market capitalization, and the utilization of Hudson Global’s sizable NOLs to deliver compelling returns to stockholders [1].

The completion of the transaction followed the satisfaction of all conditions to the Closing of the Merger, including approvals by the stockholders of both Hudson Global and Star. Former Star common stockholders received approximately 744,291 shares of Hudson Global common stock for their Star common shares, while former Star preferred stockholders received approximately 2,690,637 shares of Hudson Global Series A preferred stock [1].

The merger is expected to have no material impact on clients, employees, or brand names of any of the operating businesses. Hudson Global’s board of directors is composed of seven members, six of whom are independent. Jeff Eberwein serves as CEO and Rick Coleman as COO [1].

References:
[1] https://www.globenewswire.com/news-release/2025/08/22/3137818/0/en/Hudson-Global-and-Star-Equity-Holdings-Announce-Closing-of-Merger.html