EQS-News: Pride Holdings Group
/ Key word(s): Communications
ORLANDO, FL - August 31, 2026 (NEWMEDIAWIRE) - Pride Holdings Group (OTC: PHSE) today announced a significant step in its ongoing corporate restructuring initiatives designed to simplify the Company's capital structure and strengthen its long-term strategic position. As part of these initiatives, former Chief Executive Officer J. Michael (Mike) Barrett has completed the return of 32% of the Company's common shares to the Company's treasury. This substantial return of shares represents an important component of Pride Holdings Group's broader effort to streamline its common share structure. In addition, several officers of the Company have agreed to exchange portions of their common stock holdings for preferred stock, which is expected to further reduce the number of common shares outstanding. Upon completion of these transactions, Pride Holdings Group expects its common shares outstanding to be reduced to approximately 1 billion shares. These actions reflect the Company's continued commitment to strengthening its corporate structure and positioning Pride Holdings Group for its next phase of strategic growth. Management believes a more streamlined capital structure may provide the Company with greater flexibility as it continues to pursue acquisitions, expand its operating divisions, and execute its long-term business strategy. Interim Chief Executive Officer Tim Majors commented: Pride Holdings Group remains focused on expanding across its core business segments, including hospitality, entertainment, media, consumer products, membership services, and strategic acquisitions that align with the Company's long-term vision. The Company expects to continue evaluating opportunities to strengthen its corporate structure, expand its operating portfolio, and build long-term shareholder value as it moves forward with its strategic growth initiatives. About Pride Holdings Group Pride Holdings Group is a publicly traded holding company focused on acquiring, operating, and scaling LGBTQ+ oriented hospitality, nightlife, entertainment, and real estate assets. Through its portfolio of venues, events, and branded experiences, the Company aims to create safe, inclusive, and economically sustainable community spaces while delivering long-term value to shareholders. Forward-Looking Statements This press release contains forward-looking statements within the meaning of applicable securities laws. These statements are subject to risks and uncertainties that could cause actual results to differ materially. Pride Holdings Group undertakes no obligation to update forward-looking statements except as required by law. Media Relations News Source: Pride Holdings Group 31.08.2026 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. |
| Language: | English |
| Company: | Pride Holdings Group |
| United States | |
| ISIN: | US74025X1XXX |
| EQS News ID: | 2391116 |
| End of News | EQS News Service |
2391116 31.08.2026 CET/CEST
