A merger between Koosharem Corp., which does business as Select Staffing, and Atlas Acquisitions Holdings Corp. (AMEX: AXG) is coming for a vote by Atlas shareholders on Feb. 12, the company announced. The deal would take Santa Barbara CA-based Select Staffing public, and Select's executive officers would become Atlas' executive officers.

Atlas also reported it received approval from the Federal Trade Commission for early termination of the Hart-Scott-Rodino waiting period.

Atlas will issue 24.7 million shares of its stock to Select shareholders in the deal, according to a proxy statement filed with the U.S. Securities and Exchange Commission. With the Jan. 15 closing price of shares of $10, that would amount to $247.2 million. Atlas may issue another 6.0 million shares based on certain financial goals.