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Waltham, MA,
February 15, 2007
-- Salary.com, Inc. (NASDAQ:SLRY) today announced the pricing of its initial public offering of 5,700,000 shares of its common stock at $10.50 per share (before underwriting discounts and commissions). The offering is expected to close on February 21, 2007.
The 5,700,000 shares consist of 4,898,443 shares being sold by the Company and 801,557 shares being sold by certain stockholders of the Company. The shares are scheduled to begin trading on the NASDAQ Global Market on February 15, 2007 under the trading symbol "SLRY." The net proceeds of the offering will be used to repay outstanding debt and for general corporate purposes. The Company will not receive any of the proceeds from the sale of common stock held by the selling stockholders. The Company and certain of the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 855,000 shares at the initial public offering price to cover over-allotments, if any.
Thomas Weisel Partners LLC is acting as sole book runner for the offering and William Blair & Company is acting as co-lead manager. In addition, Needham & Company, LLC, Wachovia Securities, and Pacific Crest Securities are acting as co-managers.
A copy of the prospectus related to this offering may be obtained from Thomas Weisel Partners LLC, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by calling 415-364-2720. The prospectus will also be available on the Securities and Exchange Commission website at http://www.sec.gov.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on February 14, 2007. This press release shall not constitute an offer to sell or the 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.
About Salary.com, Inc.
Salary.com is a leading provider of on-demand compensation management solutions helping businesses and individuals manage pay and performance. Salary.com provides companies of all sizes comprehensive on-demand software applications that are tightly integrated with its own proprietary compensation data sets, thereby automating the essential elements of the compensation management process and significantly improving the effectiveness of its client's compensation spend. For more information, visit www.salary.com.
Media Contact:
David Close/Bill Keeler
Schwartz Communications
(781) 684-0770
Investor Contacts:
Kenneth S. Goldman, SVP & CFO
Salary.com, Inc.
(781) 464-7386
Garo Toomajanian
Integrated Corporate Relations
(617) 956-6728
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