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Stran & Company (NASDAQ: STRN, STRNW) has appointed Sheila Johnshoy as Chief Operating Officer, effective March 16, 2022. With over 20 years in the promotional products industry, Johnshoy previously held significant roles, including Chief Revenue Officer at ePromos, where she increased revenue from $18 million to over $70 million. Her leadership is expected to accelerate Stran's growth, as the company focuses on expanding through organic growth and acquisitions. This strategic appointment comes at a critical juncture for Stran, aiming to enhance its market position.
Stran & Company (NASDAQ: STRN, STRNW) announces participation in The Wall Street Conference 2022 from March 7-9, 2022 at the Four Seasons Resort, Palm Beach, Florida. This invitation-only event will feature Andy Shape, the company's President and CEO, as a speaker. Stran is recognized for its expertise in promotional products and loyalty incentive programs, serving numerous Fortune 500 companies and focusing on building brand loyalty through innovative marketing solutions. More details can be found at www.stran.com.
Stran & Company, Inc. (NASDAQ: STRN, STRNW) has authorized a share repurchase program allowing for the buyback of up to $10 million of its common stock. This decision stems from the company's strong financial position, bolstered by over $42 million raised during its recent IPO and private placement. The acquisition of GAP Promo, contributing over $7 million in sales, is expected to enhance shareholder value. CEO Andy Shape expressed confidence in the company’s growth and the strategic use of the repurchase program to deliver value to shareholders.
Stran & Company (NASDAQ: STRN, STRNW) has been invited to present at the The MicroCap Rodeo’s 2nd Annual Winter Wonderland Best Ideas Conference from February 8-11, 2022. Andy Shape, President and CEO, will present on February 8 at 9:00 AM ET. Investors can access the webcast and receive additional information through the company's website. The conference will feature 25-minute presentations and one-on-one meetings for qualified investors.
Stran specializes in outsourced marketing solutions and serves many Fortune 500 companies, enhancing brand loyalty through promotional products.
Stran & Company has completed its acquisition of GAP Promotions in a strategic asset purchase aimed at expanding its footprint in the beverage and consumer packaged goods sectors. This acquisition is expected to be highly accretive, enhancing Stran's service offerings and creating significant economies of scale. GAP Promo, profitable since its inception in 2006, generated $7.4 million in sales in 2020, and will benefit from Stran's extensive resources. Both companies anticipate mutual growth opportunities and have plans for further consolidation in a fragmented market.
Stran & Company has announced the acquisition of GAP Promotions, which generated over $7 million in sales in 2020. This strategic move aims to enhance Stran’s presence in the beverage and consumer packaged goods sectors. The acquisition is expected to close in Q1 2022 and is deemed highly accretive due to GAP Promo's profitability since 2006. With the expertise of GAP Promo in marketing solutions, Stran anticipates growth opportunities for both companies. Gayle Piraino will continue to lead the GAP Promo division, ensuring a seamless integration of services.
Stran Secures Major Healthcare Contract
Quincy, MA, Jan. 6, 2022 - Stran & Company (NASDAQ: STRN, STRNW) has announced a multi-year contract with a prominent healthcare company aimed at providing incentive products to promote consumer health behaviors. This contract is projected to generate over $6 million in annual revenue. Stran was selected for its expertise in complex marketing and diverse product sourcing, focusing on aiding pregnant women and individuals with hypertension. This partnership reflects Stran's market traction and presents significant growth potential in the healthcare sector.
Stran & Company announced significant management changes designed to drive growth. Steve Paradiso has been appointed Chief of Staff, bringing 30 years of industry experience. Jason Nolley will serve as Chief Technology Officer, while Steve Urry has been appointed Vice President of Sales. Chris Rollins has been promoted to Chief Financial Officer. Paradiso's leadership is expected to enhance Stran’s growth strategy, leveraging his history of increasing revenues significantly in previous roles. This new leadership team aims to expedite the company’s operational efficiency and sales pipeline development.
Stran & Company announced the closing of a private placement, selling 4,371,926 shares of common stock and warrants to purchase up to 5,464,903 additional shares. The gross proceeds amount to approximately $21.7 million. The warrants have an exercise price of $4.97 and will expire in five years, subject to anti-dilution provisions. Funds will be used for acquisitions, technology investment, and operational expansion. The offering was led by EF Hutton, and the securities are not registered under the Securities Act, available only to accredited investors.
Stran & Company, Inc. (NASDAQ: STRN, STRNW) has entered into a $21.7 million securities purchase agreement with institutional investors, involving the sale of 4,371,926 shares of common stock and 5,464,907 warrants. The exercise price for the warrants is set at $4.97 per share, expiring in five years. The gross proceeds will support acquisitions, technology investments, and marketing efforts. Closing is anticipated on December 10, 2021, subject to customary conditions. Notably, the securities will not be registered under the Securities Act and are offered only to accredited investors.
