SFN Group, Inc. Announces Filing of Universal Shelf Registration Statement
FORT LAUDERDALE, Fla. // PRNewswire-FirstCall // -- SFN Group, Inc. (NYSE: SFN) announced today that it has filed a universal shelf registration statement on Form S-3 (the "registration statement") with the Securities and Exchange Commission (the "SEC"). If and when the registration statement is declared effective, it will permit the Company from time to time to offer and sell up to $100 million of equity or debt securities. The offering of securities covered by the registration statement is designed to provide the Company with greater flexibility to take advantage of financing opportunities, subject to market conditions and the capital requirements of the Company. As of the date of this release, the Company has no specific plans to offer the securities covered by the registration statement, and is not required to offer the securities in the future.
The terms of any securities offering under the registration statement will be established at the time of the offering and will be described in a prospectus supplement filed with the SEC at the time of the offering. Unless otherwise indicated in a prospectus supplement, the proceeds from the sale of any securities will be used for general corporate purposes including, but not limited to, acquisitions, working capital, capital expenditures, repayment of debt and repurchases and redemptions of securities. Once declared effective by the SEC, the registration statement would remain in place for a period of three years.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release is not an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
A copy of the final prospectus and prospectus supplement relating to any offering under the registration statement will be filed with the SEC and can be obtained, when available, by contacting: SFN Group, Inc., Chief Financial Officer, 2050 Spectrum Boulevard, Fort Lauderdale, Florida 33309.
ABOUT SFN GROUP, INC.
SFN Group, Inc. (NYSE: SFN) is a strategic workforce solutions company that provides recruiting, staffing, consulting and outsourcing specialties to meet the evolving needs of companies and job candidates.
With approximately 575 locations in the United States and Canada, SFN Group delivers strategic workforce solutions that improve business performance. SFN Group is one of North America's largest employers providing general staffing, technology services, professional services and outsourcing. To learn more, visit www.sfngroup.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, SFN Group, Inc.'s expectations regarding the SEC's approval of the effectiveness of the shelf registration statement; SFN Group's expected use of proceeds from the sale of securities under the registration statement; and SFN Group's ability to raise capital through the sale of securities under the registration statement. These statements involve risks and uncertainties that could cause our actual results to differ materially, including, but not limited to: the limitations on SFN Group's ability to cause the shelf registration to be declared effective by the SEC; changes in operations, financial results and economic conditions that limit SFN Group's ability to raise additional capital; and unexpected changes in SFN Group's operations that impact its use of proceeds from the sale of securities under the registration statement.
For a detailed discussion of these and other risk factors, please refer to SFN Group's Annual Report on Form 10-K for the period ended December 27, 2009 and from time to time other filings with the SEC, which are available on the SEC's Web site (http://www.sec.gov).
Stockholders of SFN Group are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date such statements are made. SFN Group does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after the date of this press release, or to reflect the occurrence of unanticipated events.
SOURCE SFN Group, Inc.