SPAR Group Files 8-K: Other Events & Exhibits

TL;DR

SPAR Group filed an 8-K, mostly procedural with exhibits. No major news.

AI Summary

SPAR Group, Inc. filed an 8-K on June 6, 2024, reporting "Other Events" and "Financial Statements and Exhibits." The filing does not contain specific details about new events, financial figures, or material changes, but rather serves as a notification of included exhibits and potentially routine financial reporting.

Why It Matters

This 8-K filing indicates that SPAR Group, Inc. is providing updates or submitting required documentation to the SEC, which could include financial statements or other material information relevant to investors.

Risk Assessment

Risk Level: low — The filing appears to be procedural and does not disclose any new material events, risks, or significant financial changes.

Key Players & Entities

• SPAR Group, Inc. (company) — Registrant
• June 6, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• Auburn Hills, MI (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.01 — ge on which registered Common Stock , $0.01 par value SGRP The Nasdaq Stock Mark
• $12 million — in a leveraged buyout for approximately $12 million USD. See Item 13 International Joint Ve

Filing Documents

• sgrp20240401c_8k.htm (8-K) — 34KB
• ex_649822.htm (EX-99.1) — 6KB
• 0001437749-24-019395.txt ( ) — 173KB
• sgrp-20240606.xsd (EX-101.SCH) — 3KB
• sgrp-20240606_def.xml (EX-101.DEF) — 11KB
• sgrp-20240606_lab.xml (EX-101.LAB) — 15KB
• sgrp-20240606_pre.xml (EX-101.PRE) — 11KB
• sgrp20240401c_8k_htm.xml (XML) — 3KB

01

Item 8.01 Other Events. Today SGRP announced the closing on June 3, 2024, of the sale of its Brazilian holding company, which in turn owns its majority share in the Brazil joint venture, to a minority shareholder in a leveraged buyout for approximately $12 million USD. See Item 13 International Joint Venture Transactions and Note 15 to the Company's Consolidated Financial Subsequent Events in the Annual Report. SGRP's press release announcing the Brazilian closing is attached to and made part of this Current Report as Exhibit 99.1. "The closing of the Brazil sale is another step in simplifying our operating structure and bringing cash back into the business. This has been a great joint venture for SPAR and we will maintain our relationship with the business in Brazil as it may add value to clients, but we have streamlined our business and remain bullish on growth and profitability," said Mike Matacunas, SGRP's CEO.

Forward Looking Statements

Forward Looking Statements This Current Report on Form 8-K and its exhibits (collectively, this " Current Report ") contain "forward-looking statements" within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, made by, or respecting, the Company, and this Current Report has been filed by the Corporation with the SEC. "Forward-looking statements" are defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act and other applicable Securities Laws. All statements (other than those that are purely historical) are forward-looking statements. Words such as "may", "will", "expect", "intend", "believe", "estimate", "anticipate", "continue", "plan", "project", or the negative of these terms or other similar expressions also identify forward-looking statements. Forward-looking statements made by the Corporation in this Current Report may include (without limitation) statements regarding: risks, uncertainties, cautions, circumstances and other factors (" Risks "). Those Risks include (without limitation): the impact of the news of the previously reported proposed acquisition of the Corporation or developments in it; the uncertainty of completion of mutually acceptable definitive documentation, approval by SGRP's stockholders and satisfaction of other closing conditions respecting the previously reported proposed acquisition; the impact of the Corporation's continued strategic review process, or any resulting action or inaction, should the previously reported proposed acquisition of the Corporation not occur; the impact of selling certain of the Corporation's subsidiaries or any resulting impact on revenues, earnings or cash; the impact of adding new directors or new finance team members; the potential negative effects of any stock repurchase and/or payment; the potential continuing negative effects of the COVID pandemic on the Company's business; the Corporation's potential non-compliance with applicable Na

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits: 99.1 Press Release announcing the Closing of the Brazilian Sale. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. SPAR Group, Inc. Date: June 6, 2024 By: /s/ Michael R. Matacunas, President & CEO Michael R. Matacunas, President & CEO

View Full Filing

View this 8-K filing on SEC EDGAR