HireQuest files registration statement for shares related to merger
June 8, 2020
Company Registers 9.9 Million Shares as Part of Command Center Merger
GOOSE CREEK, SC – HireQuest, Inc. (Nasdaq: HQI), a national provider of back-office and operational support for franchised operators of on-demand and temporary staffing service providers, announced that on Friday, June 5, 2020, the Company filed a Form S-1 Registration Statement with the U.S. Securities and Exchange Commission. The S-1 is intended to register 9,939,668 shares of HireQuest common stock on behalf of stockholders who received the common stock as consideration for the merger that occurred between Command Center, Inc. and Hire Quest Holdings, LLC, which was completed on July 15, 2019.
Once the Registration Statement is declared effective by the SEC, the stockholders identified in the filing will be able to, from time to time, sell shares in the open market. For additional information regarding the methods of sale, you should refer to the section entitled “Plan of Distribution” in the prospectus.
“This filing is intended to register shares already issued and outstanding, related to the previously completed merger with Command Center,” commented Rick Hermanns, HireQuest’s President and Chief Executive Officer. “This registration statement does not represent a capital raise, does not increase our fully diluted share count and accordingly, will not dilute anyone’s current holdings. Moreover, HireQuest will not receive any of the proceeds from the sale of shares of common stock by any of the selling stockholders.”
– BUSINESS WIRE
About HireQuest
HireQuest, Inc. is a nationwide franchisor that provides on demand labor solutions primarily in the light industrial and blue-collar segments of the staffing industry for HireQuest Direct and HireQuest franchised offices across the United States. Through its nationwide network of approximately 135 franchisee-owned offices in 30 states and the District of Columbia, the Company provides employment annually for approximately 67,000 field team members working for thousands of customers, primarily in the areas of construction, light industrial, manufacturing, hospitality, and event services. For more information, visit www.hirequest.com.
