Business
TrueBlue Adopts Limited Duration Shareholder Rights Agreement
TACOMA, Wash., May 14, 2025--TrueBlue (NYSE: TBI), a leading provider of specialized workforce solutions, today announced that its Board of Directors (the "Board") has unanimously resolved to adopt a limited duration shareholder rights agreement (the "Rights Agreement") to protect shareholder interests.
About this update from Trueblue, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":1869,"height":441,"url":"https://media.zenfs.com/en/business-wire.com/1620f6de2c36989ff6669261b012916c"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/A_BbQTB29TG1r4.rmKWM4w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTIyNztjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/1620f6de2c36989ff6669261b012916c","width":960,"height":227},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/oPt0PT8UXv9BNcMp0cm3OA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTI0MDA7aD01NjY7Y2Y9d2VicA--/https://media.zenfs.com/en/business-wire.com/1620f6de2c36989ff6669261b012916c","width":1200,"height":283}},"lazy":false},{"type":"text","content":"TACOMA, Wash., May 14, 2025--(BUSINESS WIRE)--TrueBlue (NYSE: TBI), a leading provider of specialized workforce solutions, today announced that its Board of Directors (the "Board") has unanimously resolved to adopt a limited duration shareholder rights agreement (the "Rights Agreement") to protect shareholder interests.","length":341,"tagName":"p"},{"type":"text","content":"The Rights Agreement is in response to the unsolicited proposal from HireQuest, Inc. (Nasdaq: HQI) to acquire all common stock of TrueBlue at $7.50 per share. The Rights Agreement is intended to reduce the likelihood that any entity, person or group is able to gain control of TrueBlue through open market accumulation without paying all shareholders an appropriate control premium or providing the Board with sufficient opportunity to make informed judgments and take actions in the best interests of all shareholders.","length":519,"tagName":"p"},{"type":"text","content":"Pursuant to the Rights Agreement, TrueBlue will issue, by means of a dividend, one preferred share purchase right (a "Right") for each outstanding share of TrueBlue common stock to shareholders of record on a date to be announced subsequently. Initially, these rights will not be exercisable and will trade with, and be represented by, the shares of TrueBlue common stock.","length":382,"tagName":"p"},{"type":"text","content":"The Rights Agreement will expire on May 13, 2026, subject to the Company’s right to extend such date, unless prior to such date stockholder approval has been obtained to extend the term of the Rights or earlier redee...