ICT GROUP Announces Pricing of Offering of 3,150,000 Shares of Common Stock
Newtown, PA, April 6, 2006 - ICT GROUP, INC. (NASDAQ: ICTG), today announced the pricing of its public offering of 3,150,000 common shares at a price of $24.00 per share. Of the shares offered, 2,050,000 shares were sold by ICT GROUP for total net proceeds of $46,117,000 after deducting underwriting discounts and commissions and estimated offering expenses, and 1,100,000 shares were sold by certain selling stockholders. ICT GROUP intends to use net proceeds from the offering to reduce indebtedness and for working capital and other general corporate purposes, and will not receive any proceeds from the sale of shares by the selling stockholders. The offering is expected to close April 11, 2006. ICT GROUP and the selling stockholders have granted the underwriters a 30-day option to purchase an additional 472,500 shares to cover overallotments,if any.
Robert W. Baird & Co. acted as lead manager and sole book-runner of the offering. William Blair & Company, L.L.C., Canaccord Adams Inc., and Craig-Hallum Capital Group LLC acted as co-managers.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state. The offering is being made only by means of a prospectus supplement and accompanying prospectus, a copy of which may be obtained from the offices of Robert W. Baird & Co. Incorporated, 777 East Wisconsin Avenue, 28th Floor, Milwaukee, WI 53202-5391. An electronic copy of the prospectus supplement and accompanying prospectus will be available on the Securities and Exchange Commission's website at www.sec.gov.
ICT GROUP, headquartered in Newtown, Pa., provides customer management and business process outsourcing solutions. The Company provides a comprehensive mix of customer care/retention, acquisition, upselling/cross-selling, technical support, market research and database marketing as well as e-mail management, data entry/collections, claims processing and document management services, using its global network of onshore, near-shore and offshore operations. ICT GROUP also provides interactive voice response (IVR) and advanced speech recognition solutions as well as hosted Customer Relationship Management (CRM) technologies, available for use by clients at their own in-house facility or on a co-sourced basis in conjunction with the Company’s fully integrated contact center operations. To learn more about how ICT GROUP can help your business, click here, or call 800-201-1085.
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