Hudson Highland Group Announces Completion of Common Stock Offering
April 06 2010 - 4:01PM
Hudson Highland Group, Inc. (Nasdaq:HHGP) announced today that it
successfully completed its previously disclosed public offering of
4,830,000 shares of common stock at $4.35 per share to the public.
The number of shares included the sale of 630,000 shares pursuant
to the exercise of the underwriter's over-allotment option.
Hudson Highland Group received approximately $19.3 million in
proceeds from the offering after deducting underwriting discounts
and commissions and estimated expenses of the offering. The
company expects to use the net proceeds from the offering for
general corporate and working capital purposes.
Robert W. Baird & Co. acted as the sole underwriter for the
offering.
About Hudson Highland Group
Hudson Highland Group, Inc. is a leading provider of permanent
recruitment, contract professionals and talent management services
worldwide. From single placements to total outsourced
solutions, Hudson helps clients achieve greater organizational
performance by assessing, recruiting, developing and engaging the
best and brightest people for their businesses. The company employs
approximately 2,000 professionals serving clients and candidates in
more than 20 countries. More information is available at
www.hudson.com.
Safe Harbor Statement
This press release contains statements that the company believes
to be "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. All
statements other than statements of historical fact included in
this press release are forward-looking statements. Words such
as "anticipate," "estimate," "expect," "project," "intend," "plan,"
"predict," "believe" and similar words, expressions and variations
of these words and expressions are intended to identify
forward-looking statements. All forward-looking statements
are subject to risks and uncertainties that could cause actual
results to differ materially from those described in the
forward-looking statements. These factors include, but are
not limited to, the impact of global economic fluctuations
including the recent economic downturn; the ability of clients to
terminate their relationship with the company at any time; risks in
collecting our accounts receivable; implementation of the company's
cost reduction initiatives effectively; the company's history of
negative cash flows and operating losses may continue; the
company's limited borrowing availability under our credit facility,
which may negatively impact our liquidity; restrictions on the
company's operating flexibility due to the terms of its credit
facility; fluctuations in the company's operating results from
quarter to quarter; risks relating to the company's international
operations, including foreign currency fluctuations; risks related
to our investment strategy; risks and financial impact associated
with dispositions of underperforming assets; the company's heavy
reliance on information systems and the impact of potentially
losing or failing to develop technology; competition in the
company's markets and the company's dependence on highly skilled
professionals; the company's exposure to employment-related claims
from both clients and employers and limits on related insurance
coverage; the company's dependence on key management personnel;
volatility of stock price; the impact of government regulations;
financial impact of audits by various taxing authorities; and
restrictions imposed by blocking arrangements. Additional
information concerning these and other factors is contained in the
company's filings with the Securities and Exchange Commission.
These forward-looking statements speak only as of the date of
this press release. The company assumes no obligation, and
expressly disclaims any obligation, to review or confirm analysts'
expectations or estimates or to update any forward-looking
statements, whether as a result of new information, future events
or otherwise.
CONTACT: Hudson Highland Group
David F. Kirby
212-351-7216
david.kirby@hudson.com
Hudson Highland (NASDAQ:HHGP)
Historical Stock Chart
From Sep 2024 to Oct 2024
Hudson Highland (NASDAQ:HHGP)
Historical Stock Chart
From Oct 2023 to Oct 2024