04:24 PM EST, 12/11/2024 (MT Newswires) -- SPAR Group (SGRP) affirmed its intent to close the proposed acquisition by Highwire Capital in a statement released late Wednesday.

The company said it issued the clarification in response to media and investor inquiries.

It said the board has "unanimously approved" the all-cash transaction and that stockholders approved the merger on Oct. 25. The price tag is $2.50 per share.

"We remain committed to completing this transaction and delivering value to our shareholders," said Mike Matacunas, chief executive of the SPAR Group. The deal was announced Aug. 30.