Subsequent Event |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Event | Subsequent Event On August 14th, 2026, the company entered into a merger agreement with Star Equity under which, subject to the conditions set forth in the merger agreement, Star Equity Holdings, Inc. (Nasdaq: STRR, STRRP) agreed to purchase all of the outstanding shares of Harte Hanks in a stock and cash transaction. Under the terms of the merger agreement, at the effective time of the acquisition, each share of Harte Hanks common stock will be converted into the right to receive either (i) cash in an amount equal to $5.00 per share or (ii) the equivalent shares of preferred stock of Star Equity. Stockholders of Harte Hanks will have the right to elect whether to receive cash or preferred stock in the transaction, subject to a cap of 50% on the aggregate cash consideration. The parties estimated the total consideration expected to be issued and paid to Harte Hanks stockholders in the acquisition to consist of approximately 1.92 million shares of Star Equity preferred stock and approximately $19.2 million to be paid in cash. Star Equity intends to finance the acquisition through a combination of cash on hand, issuance of preferred stock and debt financing. Star Equity intends to finance the cash component of the acquisition partly by drawing up to $15 million on the company’s existing revolving credit facility, with the balance of the cash consideration being funded from Star Equity’s cash on hand. The merger agreement has been approved by both companies' Board of Directors. The closing of the transaction is subject to adoption of the merger agreement by our stockholders and certain other conditions specified in the merger agreement. The closing of the transaction is expected to occur in the fourth quarter of 2026.
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