StarTek, Inc. (NYSE:SRT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On December 13, 2018, StarTek, Inc., a Delaware corporation (the “Company”), and CSP Alpha Holdings Parent Pte Ltd, a Singapore private limited company (“CSP Alpha Holdings”), entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”), to which CSP Alpha Holdings purchased, and the Company issued and sold, 368,098 shares (the “Purchased Shares”) of Common Stock, par value $0.01 per share (the “Common Stock”), at a purchase price of $6.52 per share, or a total purchase price of $2,400,000. The Company intends to use the proceeds for general corporate purposes. Prior to the transactions contemplated by the Securities Purchase Agreement, CSP Alpha Holdings owned 20,766,667 shares of Common Stock, representing approximately 56% of the Company’s outstanding Common Stock. The Securities Purchase Agreement and the transactions contemplated thereby were approved by the Audit Committee of the Company’s Board of Directors, which is comprised exclusively of independent directors unaffiliated with CSP Alpha Holdings. The purchase price for the Purchased Shares is equal to the closing sale price of the Common Stock on the New York Stock Exchange on December 12, 2018, which was the date of Audit Committee approval. The description of the Securities Purchase Agreement set forth herein is qualified in its entirety by reference to the Securities Purchase Agreement, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits:
The following exhibit is filed herewith:
StarTek, Inc. Exhibit
EX-10.1 2 srtex101.htm EXHIBIT 10.1 Exhibit SECURITIES PURCHASE AGREEMENTThis SECURITIES PURCHASE AGREEMENT (this “Agreement”),…
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About StarTek, Inc. (NYSE:SRT)
StarTek, Inc. (STARTEK) is a customer engagement business process outsourcing (BPO) services company, which is delivering customer care solutions. The Company operates its business in three segments, based on the geographic regions: Domestic, Nearshore, and Offshore. Its Domestic segment includes the operations of approximately 10 facilities in the United States and one facility in Canada. Its Offshore segment includes the operations of approximately four facilities in the Philippines. Its Nearshore segment includes the operations of approximately two facilities in Honduras and one facility in Jamaica. Its service offerings include customer care, sales support, inbound sales, complex order processing, accounts receivable management, technical and product support, up-sell and cross-sell opportunities, and other industry-specific processes.
