CSP Fund II LP, managed by Capital Square Partners Pte Ltd submitted a proposal to acquire remaining 44.03% stake in Startek, Inc. (NYSE:SRT) for $67.5 million on July 18, 2023. CSP to pay $3.80 per share in cash under the proposal. CSP intends to finance the Proposed Transaction with fully committed equity capital, which will be provided by one or more investment funds affiliated with.

The Proposed Transaction would result in a de-listing and de-registration of the Common Stock of Startek. Remaining 21,028,218 shares are directly owned by CSP Alpha Holdings Parent Pte Ltd and 1,540,041 shares are directly owned by CSP Victory Limited. CSP has received all internal approvals necessary to submit our Proposal and proceed with negotiating the Potential Transaction.

This includes approvals to immediately begin with the preparation of definitive documentation containing terms and conditions customary for a transaction of this type. CSP expects to execute Definitive Agreements before the end of August 2023. Sidharth Bhasin and Robert Katz of Latham & Watkins LLP acted as legal advisors to CSP.