Kenexa Announces Pricing of Follow-on Public Offering of Common Stock
20 May 2011 - 10:00PM
Business Wire
Kenexa Corporation (Nasdaq: KNXA), a global provider of business
solutions for human resources, announced today the pricing of its
underwritten public offering of 3,000,000 shares of its common
stock at $27.75 per share. Kenexa expects to receive net proceeds
of approximately $78.7 million after deducting underwriting
discounts and commissions and estimated offering expenses that are
payable by Kenexa. In addition, Kenexa granted the underwriters a
30-day option to purchase up to 450,000 additional shares solely to
cover over-allotments, if any.
Kenexa intends to use the net proceeds from the offering for
working capital, general corporate purposes and potential
acquisitions or investments in strategic businesses or
technologies. The offering is expected to close on May 25, 2011,
subject to customary closing conditions.
Cowen and Company and Lazard Capital Markets LLC are acting as
joint book-runners for the offering. JMP Securities, Oppenheimer
& Co. and Wedbush Securities are acting as co-managers for the
offering.
A registration statement (including a prospectus) relating to
these securities was declared effective by the Securities and
Exchange Commission on April 21, 2010 and the Company has filed a
related preliminary prospectus supplement with the Securities
Exchange Commission (the “SEC”) on May 16, 2011. A final prospectus
supplement will be filed with the SEC on or about May 20, 2011.
Before you invest, you should read these and other documents the
Company has filed with the SEC for more complete information about
the Company and its common stock. These documents may be obtained
for free by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, the prospectus supplement (including the prospectus)
may be obtained from the joint book-runners for the offering:
Cowen and Company, LLC c/o Broadridge
Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717,
Attention: Prospectus Department, or by telephone at (631)
274-2740; or
Lazard Capital Markets LLC, 30 Rockefeller
Plaza, 60th Floor, New York, NY 10020, Attention: Syndicate
Department, or by telephone at (800) 542-0970.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
The offering of the common stock will be made only by means of a
prospectus, including a prospectus supplement, forming a part of
the effective registration statement.
About Kenexa
Kenexa® provides business solutions for human resources. Kenexa
offers a comprehensive suite of unified products and services that
support the entire employee lifecycle from pre-hire to exit.
Forward-Looking Statements
This press release includes certain “forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements include, but are not
limited to, statements contained in this press release that are not
historical facts and statements identified by words such as
"expects," "anticipates," "intends," "plans," "believes," "seeks,"
"estimates" or words of similar meaning. These forward-looking
statements include our expectations regarding the offering of
common stock and our use of proceeds. These statements are based on
our current beliefs or expectations and are inherently subject to
various risks and uncertainties, including those set forth under
the caption "Risk Factors" in Kenexa’s prospectus supplement filed
with the SEC in connection with this offering. Actual results may
differ materially from these expectations due to changes in global
political, economic, business, competitive, market and regulatory
factors, Kenexa’s ability to implement business and acquisition
strategies or to complete or integrate acquisitions. Kenexa does
not undertake any obligation to update any forward-looking
statements contained in this document as a result of new
information, future events or otherwise.
Note to editors: Kenexa is a registered trademark of Kenexa.
Other company names, product names and company logos mentioned
herein are the trademarks or registered trademarks of their
respective owners.
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