24/7 Market News Snapshot 04 November, 2024 – Staffing 360 Solutions, Inc. Common Stock (DE) (NASDAQ:STAF)

November 4, 2024

DENVER, Colo., 04 November, 2024 (247marketnews.com) – (NASDAQ:STAF) are discussed in this article.
Staffing 360 Solutions, Inc. (STAF) has experienced remarkable market activity, evidenced by its recent opening at $3.10 and a current trading price of $2.82, reflecting a significant 65.94% increase from yesterday’s closing of $1.70. The stock has garnered substantial attention, with a trading volume of 43.01 million shares, indicating heightened investor enthusiasm and potential bullish trends. Market observers are advised to keep a close watch on STAF due to this notable volatility and the exciting opportunities it may present.

In a strategic move to reshape the staffing landscape, Staffing 360 Solutions, Inc. has entered into a definitive agreement with Atlantic International Corp. (OTC: ATLN) for a merger that aims to enhance workforce solutions across various sectors. This merger, which received unanimous approval from both companies’ boards, will see Atlantic acquiring all outstanding shares of Staffing 360. The deal proposes that Staffing 360 shareholders will receive 1.202 shares of Atlantic stock per share they own. Upon completion, anticipated within 90 days, the ownership structure will distribute approximately 90% to Atlantic shareholders and 10% to Staffing 360 shareholders.

Jeffrey Jagid, CEO of Atlantic, highlighted the merger’s potential impact, saying, “This transaction represents an extraordinary opportunity to significantly expand our business,” with projected annual revenue run rates reaching approximately $620 million. Brendan Flood, CEO of Staffing 360, similarly emphasized the benefits of the collaboration, noting that the merger will enable both companies to leverage their combined strengths to better meet the evolving demands of clients in the workforce solutions space.

As the transaction awaits customary shareholder and regulatory approvals, both Staffing 360 and Atlantic International are committed to maintaining transparency and delivering improved efficiencies and enhanced services, positioning the newly formed entity for success in the competitive staffing industry.

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