Hill International Prices Public Offering of Common Stock

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MARLTON, N.J., July 31, 2014 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, today announced the pricing of an underwritten public offering of 8,500,000 shares of its common stock, offered at a price to the public of $4.25 per share. The company has granted the underwriters a 30-day option to purchase up to an aggregate of 1,275,000 additional shares of common stock to cover overallotments, if any. All of the shares in the offering are to be sold by the company. The offering is expected to close on or about August 6, 2014, subject to customary closing conditions.

KeyBanc Capital Markets Inc. is acting as sole book-running manager in connection with the offering. William Blair & Company, L.L.C., Houlihan Lokey Capital, Inc., Boenning & Scattergood, Inc., Sidoti & Company, LLC and SG Americas Securities, LLC are serving as co-managers in connection with the offering.

The company intends to initially keep $10.0 million of the net proceeds as cash or cash equivalents and to use the balance of the net proceeds from the offering to meet certain of its obligations and repay a portion of its outstanding indebtedness under its existing credit facilities.

The shares of common stock to be issued in the equity offering are registered pursuant to a shelf registration statement that has been filed with and declared effective by the U.S. Securities and Exchange Commission, or SEC. The equity offering may be made only by means of a prospectus supplement and the accompanying prospectus which have been filed with the SEC and are available on the SEC's website located at www.sec.gov. A copy of the final prospectus supplement and accompanying prospectus related to this offering may be obtained, when available from KeyBanc Capital Markets Inc., Attention: Equity Syndicate, 127 Public Square, 4th Floor, Cleveland, Ohio 44114 or by telephone at (800) 859-1783.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any shares of common stock or any other securities of the company.

About Hill International

Hill International, with 4,400 employees in 100 offices worldwide, provides program management, project management, construction management, construction claims and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. Engineering News-Record magazine recently ranked Hill as the ninth largest construction management firm in the United States. For more information on Hill, please visit its website at www.hillintl.com.

The Hill International, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5733

Forward-Looking Statements

Other statements included in this press release which are not historical in nature are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve certain risks and uncertainties that could significantly affect actual results and are subject to many factors including, but not limited to, the company's ability to successfully complete the proposed transactions discussed in this press release, including due to market conditions and other factors, modifications and termination of client contracts, control and operational issues pertaining to business activities that the company conducts pursuant to joint ventures with other parties, difficulties the company may incur in implementing its acquisition strategy, the need to retain and recruit key technical and management personnel, unexpected adjustments and cancellations related to its backlog, its ability to consummate new debt facilities, the risk that its proposed lenders will not be able to consummate the new debt facilities, its ability to consummate the equity offering, special risks of international operations, including uncertain political and economic environments, acts of terrorism or war, potential incompatibilities with foreign joint venture partners, foreign currency fluctuations, civil disturbances and labor issues, and special risks of contracts with governmental entities, including the failure of applicable governing authorities to take necessary actions to secure or maintain funding for particular projects with the company, the unilateral termination of contracts by the government and reimbursement obligations to the government for funds previously received. Other factors that could cause the company's actual results, performance or achievements to differ materially from that contemplated by forward-looking statements are discussed under the heading "Risk Factors" in the preliminary prospectus supplement, under the heading "Risk Factors" and in other sections of the company's Annual Report on Form 10-K for the year ended December 31, 2013, as well as in its other reports filed from time to time with the U.S. Securities and Exchange Commission. These forward-looking statements are based on the company's current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although the company believes that the expectations, estimates and assumptions reflected in its forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of its forward-looking statements. The company does not intend, and undertakes no obligation, to update any forward-looking statement other than as required by law.


CONTACT: Hill International, Inc. John P. Paolin Senior Vice President of Marketing and Corporate Communications (856) 810-6210 johnpaolin@hillintl.com The Equity Group Inc. Devin Sullivan Senior Vice President (212) 836-9608 dsullivan@equityny.com

Source:Hill International, Inc.