Star Equity Holdings Proposes Acquisition of GEE Group Inc. for $0.30 Per Share

On May 6, 2026, Star Equity Holdings, Inc. filed an amendment to its Schedule 13D regarding GEE Group Inc. (JOB), maintaining a 5.4% beneficial ownership stake of 5,969,762 shares. The primary purpose of this filing is to announce that Star Equity has presented GEE Group’s Board of Directors with a non-binding indication of interest (IOI) to acquire 100% of the company. The proposed stock-for-stock transaction offers $0.30 per share, representing a roughly 33% premium over the April 30, 2026 closing price. Consideration would be paid in Star Equity’s 10% Series A Cumulative Perpetual Preferred Stock (STRRP), valued at its $10.00 liquidation preference. Star Equity’s CEO, Jeff Eberwein, stated the merger would maximize shareholder value by eliminating public company costs and reducing corporate overhead. The proposal also suggests that GEE Group's top executives forego standard change-in-control severance payments in favor of a settlement paid in STRRP. The transaction remains subject to due diligence, board approval, and the execution of definitive agreements.