Daily News

View All News

Insperity accepts $143.1 million in modified Dutch auction

January 13, 2016

Professional employer organization Insperity Inc. (NYSE: NSP) accepted an aggregate purchase price of approximately $143.1 million in its “modified Dutch auction” tender offer ended Jan. 7.

Insperity accepted for purchase about 3 million shares of its common stock at a purchase price of $47.50 per share, 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.