Star Equity Holdings, Inc. December

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OLD GREENWICH, Conn., May 19, 2022 (GLOBE NEWSWIRE) — Star Equity Holdings, Inc. (STRR; STRRP) (“Star Equity” or the “Company”), a diversified holding company, today announced that its board Directors The directors (the “Board”) declared a cash dividend to the holders of Series A 10% Cumulative Perpetual Preferred Shares of the Company of $0.25 per share. The record date of this dividend is June 1, 2022 and the payment date is June 10, 2022.

About Star Equity Holdings, Inc.

Star Equity Holdings, Inc. is a diversified holding company with three divisions: Healthcare, Construction and Investments.

Health care

Our Healthcare division designs, manufactures and distributes diagnostic medical imaging products and provides mobile imaging services. Our Healthcare division operates in two businesses: (i) diagnostic services and (ii) diagnostic imaging. The diagnostic services business offers imaging services to healthcare providers as an outsourced alternative to purchasing and operating their own equipment. The Diagnostic Imaging business develops, sells and services solid-state gamma cameras.

Construction

Our Construction division manufactures modular housing units for commercial and residential real estate projects and operates in two businesses: (i) the manufacture of modular buildings and (ii) the manufacture of structural wall panels and wood foundations, including construction materials distribution activities for professional builders.

Investments

Our Investments division manages and finances the Company’s real estate assets and investments.

Forward-looking statements

“Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that are not statements of fact history are hereby identified. as “forward-looking statements” for purposes of the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding (i) management’s plans and objectives for future operations, including plans or objectives relating to acquisitions and related integration, development of commercially viable products , new technologies and applicable modern services, (ii) revenue projections (including revenue/loss), EBITDA, earnings (including earnings/loss) per share, capital expenditures, curtailments cost, capital structure or other financial elements, (iii) the Company’s future financial performance or acquisition objectives and (iv) assumptions underlying or relating to any statement described above. In addition, forward-looking statements necessarily involve assumptions on the part of the Company. These forward-looking statements are generally identified by the words “believe”, “expect”, “anticipate”, “estimate”, “project”, “intend”, “plan”, “should”, “may ”, “will”, “would”, “will”, “will continue” or similar expressions. These forward-looking statements are not intended to predict or guarantee actual results, performance, events or circumstances and may not be realized as they are based on current projections, plans, objectives, beliefs, expectations, estimates and assumptions. of the Company and are subject to a number of risks and uncertainties and other influences, many of which are beyond the Company’s control. Actual results and the timing of certain events and circumstances may differ materially from those described above due to these risks and uncertainties. Factors that could influence or contribute to the inaccuracy of forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the substantial amount of the Company’s indebtedness and the ability the Company to repay or refinance it or incur additional debt in the future; the company’s need for substantial amounts of cash to service and repay debt and to pay dividends on the company’s preferred stock; restrictions contained in debt agreements that limit management’s discretion in operating the business; legal, regulatory, political and economic risks in the markets and public health crises that reduce economic activity and result in restrictions on operations (including the recent coronavirus outbreak COVID-19); the length of time associated with serving customers; loss of material contracts or inability to discuss potential contracts; disruptions in the relationship with third-party providers; revenue from accounts receivable; insufficient cash flow and resulting lack of liquidity; the Company’s inability to grow its business; adverse changes in broad governmental laws and regulations governing healthcare providers and the provision of healthcare services and the competitive impact of such changes (including adverse changes in reimbursement policies); the high costs of regulatory compliance; liability and compliance costs relating to environmental regulations; the underlying condition of the technology support industry; lack of product diversification; development and introduction of new technologies and intense competition in the health sector; existing or increased competition; risks relating to the price and volatility of the Company’s common stock and preferred stock; equity volatility and liquidity; risks to preferred shareholders not receiving dividends and risks to the Company’s ability to pursue growth opportunities if the Company continues to pay dividends in accordance with the terms of the Company’s preferred shares; the Company’s ability to implement its business strategy (including any cost reduction plans); the Company’s inability to realize the expected benefits of restructuring and cost reduction actions; the Company’s ability to preserve and monetize its net operating losses; the risks associated with the potential pursuit of acquisitions by the Company; the Company’s ability to complete successful acquisitions and execute related integration, as well as factors relating to the Company’s business, including economic and financial conditions in the markets generally and economic conditions in the Company’s markets; inability to keep pace with changing technologies and difficulties integrating technologies; system failures; losses of key management personnel and inability to attract and retain highly qualified executives and personnel in the future; and the continued demand for and market acceptance of the Company’s services. For a detailed discussion of the caveats and risks that could affect the Company’s future results of operations and financial results, please refer to the Company’s filings with the Securities and Exchange Commission, including, but without limitation, the risk factors in the latest reports of the Company. Annual report on Form 10-K and quarterly reports on Form 10-Q. This press release reflects the views of management as of the date of presentation.

All forward-looking statements are necessarily only estimates of future results, and there can be no assurance that actual results will not differ materially from expectations, and, accordingly, you are cautioned not to place undue reliance on such statements. In addition, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unforeseen events.

For more information contact:
Star Equity Holdings, Inc. The equity group
Jeffrey E. Eberwein Lena Cati
Executive Chairman Senior Vice President
203-489-9501 212-836-9611
[email protected] [email protected]

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