Startek Announces Agreement to be Acquired by Funds Managed by CSP Management Limited for $4.30 Per Share in Cash

DENVER, Oct. 10, 2023 /PRNewswire/ -- Startek, Inc. (NYSE: SRT) ("Startek" or the "Company"), a global customer experience (CX) solutions provider, today announced that it has entered into a definitive agreement to be acquired by funds managed by Capital Square Partners ("CSP") in an all-cash transaction with a total enterprise value of approximately $217 million and total equity value of approximately $174 million. Under the terms of the agreement, CSP will acquire all shares of Startek common stock not already owned by CSP for $4.30 per share in cash. The purchase price represents a premium of approximately 32% to Startek's closing share price of $3.26 on October 9, 2023, the last trading day prior to public disclosure of the transaction, and a premium of approximately 50% to the closing price of the shares on the last trading day prior to announcement of CSP's non-binding acquisition proposal.