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Subsequent Events
9 Months Ended
Sep. 30, 2021
Subsequent Events  
Note 11 - Subsequent Events

Note 11 - Subsequent Events

 

On October 1, 2021 we completed our acquisition of Recruit Media, Inc. (“Recruit Media”) in accordance with the Stock Purchase Agreement dated October 1, 2021 (the “Recruit Agreement”) between HireQuest, Inc., (the “Buyer”) Recruit Media, Inc., Jeffrey Nussbaum, Ira Bell, and Joshua Sachs (collectively, the “Sellers”). Pursuant to the Recruit Agreement, we purchased all of the outstanding shares of Recruit Media for approximately $4.35 million, subject to customary representations and warranties. Recruit Media is an IT company whose intellectual property will allow us to accelerate improvements to our platform.

  

On November 3, 2021 we entered into a definitive agreement with Dental Power International, Inc. (“Dental Power”) to acquire their Dental Power Staffing division (“DPS”) for $1.48 million. Dental Power is a 46-year-old dental staffing company headquartered in Carrboro, North Carolina. DPS is a leading provider of temporary, long-term contract, and direct-hire staffing services to dental practices across the U.S. The addition of DPS will bring additional resources and experience to HQI that will help expedite growth into a new staffing vertical.

 

On November 8, 2021 our Board declared a $0.06 per common share cash dividend to shareholders of record as of December 1, 2021, which will be paid on December 15, 2021.