PRGX Announces Closing of Overallotment Option Relating to Public Offering of Common Stock

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| Source: PRGX Global, Inc.

ATLANTA, Jan. 8, 2013 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (the "Company") (Nasdaq:PRGX), the world's leading provider of recovery audit services and the pioneer in Profit Discovery™, today announced that it has closed the sale of an additional 687,385 shares of its common stock at a public offering price of $6.39 per share. The additional shares were sold pursuant to an overallotment option granted to the underwriters of the Company's previously announced public offering, which closed on December 11, 2012. William Blair & Company, L.L.C. and Robert W. Baird & Co. Incorporated served as joint book-running managers of the public offering, and Barrington Research Associates, Inc. and B. Riley & Co., LLC served as co-managers of the public offering.

The net proceeds to the Company from the exercise of the overallotment option, after deducting underwriting discounts and commissions and estimated offering expenses, were approximately $4.1 million, bringing the total net proceeds to the Company from the offering to approximately $18.7 million. The Company intends to use the net proceeds from the public offering for working capital and general corporate purposes, including potential acquisitions.

The offering was made pursuant to a prospectus supplement to the prospectus filed with the Securities and Exchange Commission (the "SEC") as a part of the Company's effective shelf-registration statements on Form S-3 (File Nos. 333-171986 and 333-185027). Investors in the public offering should read the prospectus supplement and accompanying prospectus for the public offering and the other documents incorporated therein by reference that the Company has filed with the SEC for more complete information about the Company and the public offering. Investors can obtain these documents without charge on the SEC website at www.sec.gov. Alternatively, copies of the prospectus supplement for the public offering and the prospectus relating to the public offering can be obtained from William Blair & Company, L.L.C., Attention: Prospectus Department, 222 West Adams Street, Chicago, Illinois 60606, or by calling toll-free 1-800-621-0687.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About PRGX Global, Inc.

Headquartered in Atlanta, Georgia, PRGX Global, Inc. is the world's leading provider of recovery audit services. With over 1,600 employees, the Company operates and serves clients in more than 30 countries and provides its services to over 75% of the top 30 global retailers. PRGX is also pioneering Profit Discovery™, a unique combination of audit, analytics and advisory services that improves client financial performance. For additional information, please visit PRGX at www.prgx.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this press release we make forward-looking statements about our intended use of the net proceeds from the offering. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time to time in the Company's filings with the SEC. You should not place undue reliance on forward-looking statements and the Company undertakes no obligation to update any such statements to reflect circumstances or events that occur after the dates on which the forward-looking statements are made.

PRGX Global, Inc. 

Phone: 770-779-3011