TROY, MI -- (MARKET WIRE) -- May 8, 2007 --Kelly Services, Inc. (
NASDAQ:
KELYA) (
NASDAQ:
KELYB), a global provider of staffing services, today announced the pricing
of 4,550,000 shares of the Company's Class A common stock at a price of
$27.75 per share pursuant to a shelf registration statement previously
filed by the Company with the Securities and Exchange Commission.
In connection with the offering, the selling stockholders have also granted
the underwriters a 30-day option to purchase up to an additional 682,500
shares of Class A common stock at the public offering price. The Company
expects the delivery of the shares by the selling stockholders to occur on
May 10, 2007.
The selling shareholders participating in the offering are primarily trusts
controlled by Terence E. Adderley, Chairman of the Board of Directors of
the Company. The primary purpose of the sales is to provide liquidity to
pay estate taxes in connection with the estates of William R. Kelly and
Margaret A. Kelly. The Company will not receive any of the proceeds from
the sale of shares by the selling shareholders.
Goldman, Sachs & Co. acted as the sole book-running manager of the
offering. J.P. Morgan Securities Inc. and SunTrust Capital Markets, Inc.
acted as co-managers for the offering.
This announcement will not constitute an offer to sell or the solicitation
of an offer to buy, nor will there be any sales of these securities in any
jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under securities laws of such
jurisdiction. The offering of the shares of common stock may be made only
by means of the prospectus supplement and related prospectus, copies of
which may be obtained from Goldman, Sachs & Co., Attn: Prospectus
Department, 85 Broad St, New York, NY 10004, via fax at 212-902-9316 or
via email at
prospectus-ny@ny.email.gs.com.
This release contains statements that are forward-looking in nature and
accordingly, are subject to risks and uncertainties. These factors include:
competition, changing market and economic conditions, currency
fluctuations, changes in laws and regulations, including tax laws, and
other factors discussed in this release and in the Company's filings with
the Securities and Exchange Commission. Actual results may differ
materially from any projections contained herein.
About Kelly Services
Kelly Services, Inc. (
NASDAQ:
KELYA) (
NASDAQ:
KELYB) is a Fortune 500
company headquartered in Troy, Mich., offering staffing solutions that
include temporary staffing services, outsourcing, vendor on-site and
full-time placement. Kelly operates in 32 countries and territories.
Kelly provides employment to more than 750,000 employees annually, with
skills including office services, accounting, engineering, information
technology, law, science, marketing, creative services, light industrial,
education, and health care.
Contact Information: ANALYST CONTACT:
James Polehna
(248) 244-4586
Email Contact
MEDIA CONTACT:
Renee Walker
(248) 244-4305
Email Contact