HireRight Holdings , a global leader in background screening services, announced the completion of its acquisition by investment funds affiliated with General Atlantic and Stone Point Capital. The all-cash merger transaction values HireRight at approximately $1.7 billion, with shareholders receiving $14.35 per share. The transaction was approved during a Special Meeting of Stockholders on June 21, 2024. As a result, HireRight’s common stock has ceased trading on the New York Stock Exchange.
HireRight Holdings (NYSE: HRT) reported its first quarter 2024 financial results, with revenues at $173.2 million and a net loss of $3.3 million. The company also highlighted an adjusted EBITDA of $40.3 million and diluted loss per share of $0.05. HireRight President and CEO Guy Abramo expressed satisfaction with the performance, focusing on margin expansion and customer satisfaction.
Despite the net loss, HireRight remains optimistic about its long-term growth prospects, emphasizing its unique compliance solution and ability to attract new global customers. The company maintains a strong liquidity position with $236.0 million in capital available as of March 31, 2024.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.