FTI Consulting Announces Common Stock Offering
Offers 2.1 Million Shares of Common Stock by the Company and 19,469 Shares by Selling Stockholders
Annapolis, MD - October 8, 2002
ANNAPOLIS, MD, October 8, 2002—FTI Consulting, Inc. (NYSE: FCN), one of the largest U.S. providers of turnaround, restructuring, bankruptcy and related consulting services, announced today that it filed with the Securities and Exchange Commission (SEC) a registration statement on Form S-3 for an underwritten public offering of 2,119,469 shares of its common stock. FTI intends to sell 2.1 million shares of its common stock and selling stockholders intend to sell 19,469 shares of common stock in the offering.
FTI intends to use half of its net proceeds from the offering to repay a portion of its $74.0 million term loan under its credit facility and the remainder to repay a portion or all of the revolving credit loan under its credit facility. The underwritten offering, which will be made only by means of a prospectus, will be led by Lehman Brothers and co- managed by Banc of America Securities LLC, Adams, Harkness & Hill, Inc., Janney Montgomery Scott LLC and SunTrust Robinson Humphrey.
The registration statement for the offering has been filed with the SEC but has not yet become effective and the shares of common stock covered by it may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.