M&A - TrueBlue, Inc.

Form Type: 8-K

Filing Date: 2025-05-14

Corporate Action: Acquisition

Type: Update

Accession Number: 000076889925000094

Filing Summary: On May 13, 2025, TrueBlue, Inc. announced that its Board of Directors unanimously rejected an unsolicited, non-binding proposal from HireQuest, Inc. The proposal was regarding a potential all-stock acquisition for all common shares of TrueBlue at a price of $7.50 per share. The board's decision was made public through a press release, which was attached as Exhibit 99.1 and is incorporated into the filing. TrueBlue clarified that the information in the report is not to be considered 'Filed' under the Securities Exchange Act nor incorporated by reference in any future filing unless explicitly stated.

Form Type: 10-Q

Filing Date: 2025-05-05

Corporate Action: Acquisition

Type: New

Accession Number: 000076889925000091

Filing Summary: TrueBlue, Inc. reported its quarterly financial results for the period ended March 30, 2025. The company recorded revenues of $370,254,000, a decrease from $402,853,000 in the same period the previous year. The cost of services also fell to $283,912,000, down from $303,467,000. TrueBlue experienced a gross profit decline, resulting in a net loss of $14,348,000, compared to a net loss of $1,698,000 a year ago. The company disclosed operational challenges attributed to decreased demand for services and overall economic uncertainty. Key balance sheet figures indicate total assets of $692,471,000, and total liabilities of $390,254,000. An important development includes the acquisition of HSP, finalized on January 31, 2025, which aims to enhance TrueBlue's staffing solutions in the healthcare sector. Other highlights include management's assessment of financial condition and qualitative disclosures about market risk. Despite the negative earnings, cash flows from financing activities showed a positive trend with $49,369,000 generated during the quarter.

Form Type: 8-K

Filing Date: 2025-02-04

Corporate Action: Acquisition

Type: New

Accession Number: 000076889925000005

Filing Summary: On February 4, 2025, TrueBlue, Inc. announced the acquisition of Healthcare Staffing Professionals, Inc. (HSP), which provides long-term temporary and permanent staffing solutions primarily focused on healthcare positions. HSP specializes in staffing for positions such as nursing, allied health, behavioral health, and various research, IT, and administrative roles. The organization has a nationwide reach and emphasizes serving state and local government entities, including public health departments, correctional institutions, and education systems. The announcement includes a press release attached as Exhibit 99.1.