Insperity Announces Final Results of Modified Dutch Auction Tender Offer
OREANDA-NEWS. Insperity, Inc. (“Insperity”) (NYSE:NSP), a leading provider of human resources and business performance solutions for America’s best businesses, today announced the final results of its “modified Dutch auction” tender offer, which expired at 5:00 p.m., New York City time, on Jan. 7, 2016.
Based on the final count by Computershare Trust Company, N.A., the depositary for the tender offer, Insperity has accepted for purchase 3,013,531 shares of its common stock at a purchase price of $47.50 per share, for an aggregate purchase price of approximately $143.1 million, excluding fees and expenses related to the tender offer. Included within the shares accepted for purchase are 381,952 shares that Insperity elected to purchase pursuant to its right to increase the size of the tender offer by up to 2.0% of Insperity’s outstanding common stock. The shares purchased represent approximately 12.4% of Insperity’s common stock issued and outstanding as of Jan. 11, 2016.
As noted in the Offer to Purchase related to the tender offer, Insperity may purchase additional shares of its common stock in the future in the open market subject to market conditions. Insperity may also purchase shares of its common stock in private transactions, tender offers or otherwise. Under applicable securities laws, however, Insperity may not purchase any such shares of its common stock until after Jan. 22, 2016. Any possible future purchases by Insperity will depend on many factors, including the market price of the shares, the final results of the tender offer, Insperity’s business and financial position and general economic and market conditions.
About Insperity
Insperity, a trusted adviser to America’s best businesses for more than 29 years, provides an array of human resources and business solutions designed to help improve business performance.
Insperity®Business Performance Advisors offer the most comprehensive suite of products and services available in the marketplace. Insperity delivers administrative relief, better benefits, reduced liabilities and a systematic way to improve productivity through its premier Workforce Optimization® solution. Additional company offerings include Human Capital Management, Payroll Services, Time and Attendance, Performance Management, Organizational Planning, Recruiting Services, Employment Screening, Financial Services, Expense Management, Retirement Services and Insurance Services. Insperity business performance solutions support more than 100,000 businesses with over 2 million employees. With 2014 revenues of $2.4 billion, Insperity operates in 60 offices throughout the United States.
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