Insperity, Inc. (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 11:59 p.m., New York City time, on Dec. 21, 2012.
Insperity has accepted for purchase 80,983 shares of its common stock at a price of $31.00 per share for a total cost of approximately $2.5 million, excluding fees and expenses relating to the tender offer. The shares purchased pursuant to the tender offer represent approximately 0.3 percent of the total number of shares issued and outstanding as of Dec. 26, 2012. We funded the purchase of the shares in the tender offer from cash on hand.
Computershare Trust Company, N.A., the depositary for the tender offer, will promptly pay for the shares of common stock accepted for purchase. Payment for the shares will be made in cash, without interest. Upon completion of the tender offer, we have approximately 25.6 million shares of common stock issued and outstanding.
As noted in the Offer to Purchase, we may purchase additional shares in the future in the open market subject to market conditions. We may also purchase shares in private transactions, tender offers or otherwise. However, under applicable securities laws, we may not repurchase any shares until after Jan. 8, 2013. Any possible future purchases by us will depend on many factors, including the market price of the shares, the results of the tender offer, our business and financial position and general economic and market conditions.Georgeson Inc. serves as information agent for the tender offer. The dealer manager for the tender offer is Robert W. Baird & Co. Incorporated. Questions and requests for assistance may be directed to the information agent at (800) 509-0917 (toll free) or the dealer manager at (414) 298-7382.
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