Heidrick & Struggles International, Inc. (ticker: HSII, exchange: NASDAQ) News Release - 27-Apr-1999
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Heidrick & Struggles Prices Initial Public Offering Of 4.2 Million Shares Of Common Stock At $14.00 Per Share
Chicago, April 27, 1999 – Heidrick & Struggles International, Inc. (“Heidrick & Struggles”) today announced that its initial public offering of 4.2 million shares of common stock has been priced at $14.00 per share. Heidrick & Struggles shares will be listed on NASDAQ under the symbol HSII and will begin trading April 27, 1999.
Of the total number of shares offered, 3.7 million are being sold by Heidrick & Struggles International, Inc. and 500,000 are being sold by certain selling stockholders. Proceeds from the initial public offering will be used to fund working capital and for general corporate purposes, including repayment of debt, technology enhancements, funding the continuing development of LeadersOnline™, the possible opening of new offices, and potential acquisitions.
The lead underwriter for the offering is Lehman Brothers, and Goldman, Sachs & Co. is the co-manager. Heidrick & Struggles International, Inc. has granted the underwriters a 30-day option to purchase up to an additional 630,000 shares to cover over-allotments, if any.
Heidrick & Struggles International, Inc. is one of the world’s leading executive search firms, specializing in chief executive, board of directors and senior level management assignments. Today, over 750 Heidrick & Struggles professionals serve a broad range of organizations from Fortune 500 companies, major hospitals and universities and leading mid-cap companies from more than 59 offices throughout Asia Pacific, Europe, Latin America, the Middle East, North America and Africa.
A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such State. A final prospectus may be obtained from Lehman Brothers at 516-254-7107.