CTPartners Executive Search Inc. (NYSE MKT: CTP) will sell a $5.0 million registered underwritten offering of its common stock to one institutional investor, the New York-based search firm announced. The offering includes more than 1.45 million shares at a price of $3.44 per share.

CTPartners declined a request to name the investor.

The company initially agreed to sell 1.67 million shares at $3.00 per share but the same day revised the price and share volume to avoid stockholder approval under NYSE MKT rules.

The offering is expected to close on Feb. 4, subject to the satisfaction of customary closing conditions.

Craig-Hallum Capital Group is acting as sole managing underwriter for the offering.

CTPartners last week further revised its preliminary earnings, lowering its estimated net loss to a range of 19 cents to 23 cents per share from a prior estimate of a net loss of 4 cents to 8 cents per share. The firm also suspended a proposed offering of up to $12.5 million shares of common stock announced Monday.

CTPartners is scheduled to report financial results on March 12.