Exult Says Offering Set at $13.34 per Share

Exult Inc. said its new offering of 12 million shares of common stock has been priced at $13.34 a share.

The Irvine company, which provides human resources services, increased the offering by 2 million shares from the amount originally planned.

Exult is offering 8 million shares and shareholders are selling the remainder.

Exult said it expects to receive about $100.5, after expenses and underwriting discounts and commissions.

The company plans to use the proceeds for working capital and other expenses.

The stock closed Friday at $15, up 5 cents a share, on Nasdaq.