Sept 22, 1997: TMP Worldwide Inc. Sells Common

Ticker: TMPW (news) Highlight: OFF Date: 970922

New York, N.Y., Sept. 22, 1997 -- TMP Worldwide Inc. (TMPW) said it completed a public offering of 4,000,000 common shares at $23 each through Morgan Stanley Dean Witter, Goldman, Sachs & Co., BT Alex Brown, Montgomery Securities, and Ladenburg Thalman & Co. Of those shares, 2,400,000 were offered for TMPW and 1,600,000 for certain stockholders.

Net proceeds will be used by TMPW to pay down outstanding debt, including $46,000,000 incurred in connection with the recent acquisition of Austin Knight, a large global recruitment advertising network based in the United Kingdom.