Staffing 360 Solutions Amends Credit and Security Agreement with MidCap

Staffing 360 Solutions, Inc. (NASDAQ: STAF) recently announced entering into Amendment No. 34 to its Credit and Security Agreement and Limited Consent to Intercreditor Agreement with MidCap Funding IV Trust and other parties. The Amendment, effective as of December 20, 2024, extends the Commitment Expiry Date to December 27, 2024.

Under Amendment No. 34, Staffing 360 Solutions, Inc., as the parent company, and several entities operating under its umbrella entered into agreements with lenders represented by MidCap Funding IV Trust. These agreements modify the existing Credit and Security Agreement dated April 8, 2015. The Extension of the Commitment Expiry Date is a notable feature resulting from this latest Amendment.

Furthermore, in connection with Amendment No. 34, the company also secured a Limited Consent to the Intercreditor Agreement, allowing Staffing 360 Solutions to proceed with the aforementioned amendment.

Additionally, on December 27, 2024, Staffing 360 Solutions held its 2024 Annual Meeting of Stockholders. Matters discussed and voted on during the meeting included the election of directors and the ratification of RBSM LLP as the independent registered public accountant for the 2024 fiscal year. The results of the voting affirmed the decisions made in these matters.

The company disclosed these events in a filing with the Securities and Exchange Commission, stating that the final voting results have been recorded, with no other matters considered or voted upon at the meeting.

The full text of Amendment No. 34 is available as Exhibit 10.1 in the filing, providing comprehensive details of the agreement. Moreover, the company submitted a Cover Page Interactive Data File as Exhibit 104, integrated within the Inline XBRL document.

Lastly, the report was duly signed by Brendan Flood, the Chairman, President, and Chief Executive Officer of Staffing 360 Solutions, Inc., in accordance with the requirements of the Securities Exchange Act of 1934, on December 27, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Staffing 360 Solutions’s 8K filing here.

About Staffing 360 Solutions

Staffing 360 Solutions, Inc engages in the provision of based staffing services and the acquisition and management of staffing companies in the information technology, financial, accounting, healthcare and cyber security industries. It operates through the following segments: Commercial Staffing, Professional Staffing-US and Professional Staffing-UK.