Press release
The Hackett Group, Inc. Announces Preliminary Results of Its $40 Million Dutch Auction Tender Offer
MIAMI--(BUSINESS WIRE)-- The Hackett Group, Inc. (NASDAQ: HCKT) (“Hackett” or the “Company”), a leading generative artificial intelligence (“Gen AI”)
About this update from The Hackett Group, Inc.
[{"type":"text","content":" MIAMI--(BUSINESS WIRE)--\nThe Hackett Group, Inc. (NASDAQ: HCKT) (“Hackett” or the “Company”), a leading generative artificial intelligence (“Gen AI”) consultancy and executive advisory firm, today announced the preliminary results of its modified “Dutch auction” tender offer (the “Offer”) to purchase up to $40 million in value of its common stock, par value $0.001 per share (the “Common Stock”), which expired at 12:00 midnight, New York City time, at the end of the day on December 4, 2025.\n\nBased on the preliminary count by Computershare Trust Company, N.A., the depositary for the Offer, a total of 2,000,000 shares of Hackett’s Common Stock were properly tendered and not properly withdrawn at or below the purchase price of $20.00 per share, including shares that were tendered through notice of guaranteed delivery.\n\nIn accordance with the terms and conditions of the Offer, and based on the preliminary count by the depositary, Hackett expects to accept for purchase 2,000,000 shares of its Common Stock at a purchase price of $20.00 per share, for an aggregate cost of approximately $40 million, excluding fees and expenses relating to the Offer. Due to the oversubscription of the Offer and based on the preliminary proration factor provided by the depositary, Hackett expects that stockholders who properly tendered and did not properly withdraw shares of Common Stock in the Offer at or below $20.00 per share will have approximately 96.98% of their tendered shares purchased by Hackett (excluding conditional tenders, which will automatically be regarded as withdrawn because the condition of the tender has not been met). The 2,000,000 shares expected to be purchased in the Offer represent approximately 7.37 percent of Hackett’s currently issued and outstanding shares of Common Stock.\n\nThe number of shares expected to be purchased is preliminary and subject to change. The preliminary information contained in this press release is subject to confirmation by the depositary and is based on the assumption that all shares tendered through notice of guaranteed delivery will be delivered within the one trading day settlement period. The final number of shares to be purchased will be announced following the expiration of the guaranteed delivery period and completion by the depositary of the confirmation process. Payment for the shares acce...