Apollo Capital Expresses Concerns Over Highwire Capital's Proposed Take-Private Of SPAR Group Due To Financing Uncertainty, Limited Obligations Of Highwire, Lack Of Disclosure On SPAR's Cash Balance, And Urges SPAR Board To Provide Full Disclosure And Reconsider Transaction Recommendation
Portfolio Pulse from Benzinga Newsdesk
Apollo Capital raises concerns over Highwire Capital's proposed take-private of SPAR Group, citing financing uncertainties, limited obligations, and lack of cash balance disclosure. Apollo's CEO plans to vote against the transaction, urging SPAR's board for full disclosure.
October 04, 2024 | 8:31 pm
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Apollo Capital is concerned about Highwire Capital's proposed take-private of SPAR Group due to financing uncertainties and lack of cash balance disclosure. Apollo's CEO intends to vote against the transaction, urging SPAR's board for full transparency.
The concerns raised by Apollo Capital about the financing uncertainties and lack of disclosure could lead to negative sentiment among investors, potentially impacting SPAR Group's stock price negatively in the short term. The CEO's intent to vote against the transaction further emphasizes the seriousness of these concerns.
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