Dec 17 2009
Transcend Services, Inc. (the “Company”)(NASDAQ: TRCR) today announced today announced that the public offering of 2,220,000 shares of its common stock has priced at $16.75 per share. The Company is offering 1,500,000 shares of common stock and selling stockholders are offering the remaining 720,000 shares in the offering. The underwriters have a 30-day option to purchase up to an additional 333,000 shares from the Company and the selling stockholders.
Lazard Capital Markets LLC is the sole book-running manager and William Blair & Company is co-lead manager for the offering.
The Company intends to use the net proceeds of the shares sold by it in the offering to repay the remaining $5.0 million of its $7.0 million term loan, fund new acquisitions and to fund working capital and other general corporate initiatives. The Company will not receive any proceeds from the sale of shares by the selling stockholders.
The public offering is being made only by means of a prospectus, copies of which may be obtained from Lazard Capital Markets LLC, 30 Rockefeller Plaza, 60th Floor, New York, NY 10020 or by calling (800) 542-0970.
This press release is not an offer to sell or the solicitation of an offer to buy these securities, nor shall it constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.