MCI Capital, LC made an offer to acquire a 9.9 % stake in Startek, Inc. (NYSE:SRT) for $16.8 million on November 22, 2022. MCI is offering to purchase up to 4,000,000 shares of common stock at a price of $4.20 per Share, net to the seller in cash. The Offeror expect to fund the offer from existing available funds. There is no financing condition to the Offer. However, the Offer is conditioned upon there being validly tendered and not withdrawn in accordance with the terms of the Offer, 2,000,000 Shares, or approximately 5.0%, of the outstanding Shares (collectively, the “Minimum Condition”). On December 15, 2022, the Offeror extended the offer period from December 20, 2022, to January 4, 2023. Peter G. Smith of Kramer Levin Naftalis & Frankel LLP acted as legal advisor to Startek. MacKenzie Partners, Inc. acted as depository and Information Agent for the Offer.

MCI Capital, LC completed the acquisition of a 7.3% stake in Startek, Inc. (NYSE:SRT) for $12.4 million on January 4, 2023. At the time of expiry of offer on January 4, 2023, 2,940,646 shares were validly tendered and not validly withdrawn.