Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Dutch Auction Tender Offer
Baird served as exclusive financial advisor and dealer manager on this offering
Insperity, Inc. (“Insperity” or the “Company”) (NYSE: NSP) recently completed a modified “Dutch auction” tender offer in which the Company offered to purchased up to $50 million of its common stock at a price per share of $27.00 -$31.00. Pursuant to the tender offer, the Company purchased 80,983 common shares at a price of $31.00 for a total cost of $2.5 million. The tender offer commenced on November 26, 2012 and expired on December 24, 2012 at 5:00 PM ET and was entirely funded by cash reserves on hand. The closing price of Insperity’s common stock on December 24, 2012 was $32.32.
Insperity provides an array of human resources and business solutions designed to help improve business performance. Insperity delivers administrative relief, better benefits, reduced liabilities and a systematic way to improve productivity through its premier Workforce OptimizationTM 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 operates in 56 offices throughout the United States and is headquartered in Kingwood, Texas.