Welcome to our dedicated page for Staffing 360 news (Ticker: STAF), a resource for investors and traders seeking the latest updates and insights on Staffing 360 stock.
Staffing 360 Solutions, Inc. (STAF) delivers specialized staffing services through its distinctive buy-and-build strategy. This news hub provides investors and industry professionals with essential updates on the company's strategic acquisitions, financial performance, and market positioning.
Access real-time updates on STAF's consolidation efforts across finance, IT, and industrial staffing sectors. Our curated collection includes earnings announcements, merger details, leadership changes, and operational milestones - all critical for understanding the company's growth trajectory.
Key updates feature integration progress of acquired firms, regulatory compliance developments, and service expansion initiatives. Bookmark this page for streamlined access to press releases and objective analysis of STAF's unique approach in the competitive staffing landscape.
Staffing 360 Solutions, Inc. (NASDAQ: STAF) announced the successful closing of its public offering of 4,816,665 shares of common stock at $0.60 per share, generating approximately $2.9 million in gross proceeds. The offering included the full exercise of an underwriter's option for an additional 628,260 shares. Proceeds from the sale will be allocated with 75% used to redeem part of an outstanding note due September 30, 2022, and 25% to redeem Series E Preferred Stock. H.C. Wainwright & Co. served as the sole book-running manager.
Staffing 360 Solutions, Inc. (NASDAQ: STAF) has priced an underwritten public offering of 4,188,405 shares of common stock at $0.60 per share, aiming to raise approximately $2.5 million. The company plans to allocate 75% of the proceeds to redeem some of its outstanding notes due September 30, 2022, and the remaining 25% for redeeming Series E Preferred Stock. The underwriter also holds a 30-day option to purchase an additional 628,260 shares. The offering is expected to close around December 29, 2020, subject to customary conditions.
Staffing 360 Solutions (NASDAQ: STAF) announced a public offering of its common stock, with an underwriter option for additional shares. The offering's success is contingent on market conditions, and its terms are yet to be finalized. The company plans to allocate 75% of the net proceeds to redeem part of an outstanding note due September 30, 2022, and 25% for redeeming Series E Preferred Stock. H.C. Wainwright & Co. is the sole book-running manager. Previous registration with the SEC was effective April 11, 2019. More details, including the prospectus, will be available on the SEC website.
Staffing 360 Solutions, Inc. (NASDAQ: STAF) announced on November 12, 2020, that it has regained compliance with the Nasdaq minimum bid price requirement, resolving a previous compliance issue. The Nasdaq has closed this matter. Brendan Flood, CEO, emphasized the company's focus on growth and shareholder value following a successful restructuring of senior debt. Staffing 360 continues to pursue an international buy-integrate-build strategy targeting staffing organizations across various sectors in the U.S. and the U.K.
Staffing 360 Solutions (NASDAQ: STAF) reports Q3 2020 results showing significant impacts from the COVID-19 pandemic. Revenue declined by 27.7% to $48.6 million, and net loss reached $2.6 million. However, the company noted sequential improvements in key metrics like revenue and adjusted EBITDA. Cash balance stood at $10.7 million, with cost-saving measures yielding $5.2 million. The company successfully restructured its senior debt, reducing cash outflow by 50%. October results aligned with internal forecasts, indicating a positive industry outlook.
Staffing 360 Solutions, Inc. (STAF) announced it will report its fiscal third quarter and nine-month financial results post-market on November 10, 2020. A conference call will follow on November 11 at 9:00 AM ET to discuss the results and the impact of COVID-19 on business operations.
The company is focused on an international buy-integrate-build strategy to acquire staffing organizations in the U.S. and the U.K. It emphasizes growth opportunities in finance, accounting, and IT staffing sectors.
Staffing 360 Solutions (NASDAQ: STAF) announced a successful restructuring of its senior secured debt, extending a $35.7 million loan and a $25 million credit facility for two years. The restructuring reduces cash outflow by 50% and is expected to save $1 million in interest expenses during the first six months. The company has applied for full forgiveness of a $19.4 million PPP loan, anticipating significant operational improvements. Staffing 360 aims to reach pre-COVID business levels by year-end and plans to expand through acquisitions.
Staffing 360 Solutions (NASDAQ: STAF) reported a significant revenue decline of 41% to $43.4 million in Q2 2020, impacted by the COVID-19 pandemic. Gross profit also fell by 37.5%, but gross margin improved to 17.4%. The company incurred a net loss of $3.8 million, worsening from a loss of $1.5 million in Q2 2019. Despite challenges, adjusted EBITDA remained positive at $0.5 million. The CEO expressed cautious optimism, citing improvements in business over the past six weeks and efforts to strengthen the balance sheet through government stimulus and debt refinancing.
Staffing 360 Solutions, Inc. (NASDAQ: STAF) will report its fiscal Q2 and six-month financial results on August 11, 2020. The company is pursuing an international buy-integrate-build strategy, seeking profitable acquisitions in various staffing sectors. A conference call is scheduled for August 12, 2020, at 9:00 AM ET to discuss the financial results and COVID-19 impacts. The company's goal is to drive annual revenues to $500 million through targeted acquisitions, particularly in finance, IT, and engineering staffing sectors.
Staffing 360 Solutions, Inc. (NASDAQ: STAF) announced that its Commercial Staffing division, Monroe Staffing Services, received the 2020 Best of Fall River Award in Staffing and Placement Agencies. This recognition acknowledges local businesses that enhance community image and provide excellent service. Paul Polito, President of Monroe Staffing, expressed pride in their team's commitment to offering employment opportunities. The award program evaluates companies based on quality and competitive advantages, highlighting their contributions to the local economy.
