Heidrick & Struggles International, Inc. (ticker: HSII, exchange: NASDAQ) News Release - 3-Feb-2000
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Heidrick & Struggles Prices Secondary Offering of Common Stock
CHICAGO--(BUSINESS WIRE)--Feb. 3, 2000--Heidrick & Struggles International, Inc. (Nasdaq:HSII), the world's leading executive search firm, today announced that it has priced its secondary offering of 3,000,000 shares of common stock. The secondary offering price is $33.00 per share, equal to today's closing price. Of the total shares included in the offering, the Company offered 2,008,306 shares while certain selling shareholders offered 991,694 shares. The Company has granted the underwriters the option -- for a period of 30 days -- to purchase up to 450,000 additional shares to cover over-allotments, if any.
The net proceeds raised by the Company from the offering -- after deducting underwriting discounts, commissions and estimated offering expenses -- total approximately $62.2 million.
Lehman Brothers is the lead underwriter of the offering. The co-managers are Goldman, Sachs & Co., The Robinson-Humphrey Company and Fidelity Capital Markets. When available, a copy of the final prospectus relating to the offering may be obtained from Lehman Brothers, c/o ADP Processing Inc., Prospectus Fulfillment, 55 Mercedes Way, Englewood, NY 11717, or from any of the co-managers.
The Company plans to use the proceeds from this offering for general corporate purposes, including the further development of LeadersOnline(TM) and other growth initiatives, 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 (Nasdaq: HSII) is the world's leading executive search firm, specializing in chief executive, board of directors and senior level management assignments. Today, over 800 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 69 locations throughout North and South America, Europe, the Middle East, Africa and Asia Pacific. For more information about Heidrick & Struggles, please visit our web site at www.heidrick.com.
Special note
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sale of these shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
CONTACT: Heidrick & Struggles
Jennifer Silver (media), 404/572-0019
or
Lynn McHugh (analysts), 312/496-1593