Caldwell Announces Sale of IQTalent

Caldwell has sold its subsidiary, IQTalent Partners, Inc., to WinMil, Inc. for approximately $4.7 million, which includes $3.2 million in cash and 1.45 million Caldwell common shares. The divestiture aligns with Caldwell's strategic focus on executive search and advisory services, as the company acquired IQTalent in 2020 but found it no longer aligned with its long-term goals. A two-year referral agreement has been established between the companies to ensure continued collaboration. Caldwell's board will assess the cash proceeds for future capital allocation.