08:47 AM EDT, 09/03/2024 (MT Newswires) -- SPAR Group (SGRP) said Tuesday it has agreed to be bought by Highwire Capital for $2.50 per share in cash.

The deal will likely close in Q4, said SPAR, which will become a privately held company.

SPAR will continue to be led by Chief Executive Mike Matacunas as part of the deal, which was unanimously approved by the board.

The company's shares were nearly 66% higher in recent Tuesday premarket activity.

Price: 2.4000, Change: +0.95, Percent Change: +65.52