Heidrick & Struggles International, Inc. (ticker: HSII, exchange: NASDAQ) News Release - 3-Jan-2000
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Heidrick & Struggles Announces Offering of Three Million Shares of Its Common Stock
CHICAGO--(BUSINESS WIRE)--Jan. 3, 2000-- Heidrick & Struggles International, Inc. (Nasdaq: HSII), the world's leading executive search firm, today announced that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed offering of 3,000,000 shares of its common stock.
It is expected the Company will offer 2,000,000 shares, while selling shareholders will offer 1,000,000 shares. The Company intends to grant the underwriters an option--for a period of 30 days--to purchase up to an additional 450,000 shares to cover any over-allotments. As of December 31, 1999, the Company had 16,663,151 shares of its common stock outstanding.
Lehman Brothers will act as the lead underwriter of the offering. The co-managers are Goldman, Sachs & Co. and The Robinson-Humphrey Company.
The Company plans to use the proceeds from this offering for general corporate purposes, including: the further development of LeadersOnline(TM), hiring additional executive search consultants, expanding its technology infrastructure, and the possible acquisition or development of complementary businesses.
About Heidrick & Struggles International
Heidrick & Struggles International is the world's leading executive search firm, specializing in chief executive, board of directors and senior level management assignments. Today, more than 750 Heidrick & Struggles professionals serve a broad range of organizations including Fortune 500 companies, financial institutions, major health care organizations, universities and not-for-profit organizations, leading mid-cap companies, and emerging growth companies from offices in more than 65 locations throughout North and South America, Europe, the Middle East, Africa and Asia Pacific. For more information about Heidrick & Struggles, visit our web site at www.heidrick.com.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
CONTACT: Heidrick & Struggles
Media
Jennifer Silver, 404/572-0019
or
Analysts
Lynn McHugh, 312/496-1593