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Teamstaff Concludes Its Rights Offering

Teamstaff Concludes Its Rights Offering

TeamStaff, Inc.,has reported the completion of its previously announced rights offering, which expired on Wednesday, June 6, 2012 and related standby purchase agreement. The Company successfully raised the $4.2 million it had sought by selling 3,230,769 shares of its common stock at the $1.30 per share offering price. As a result, the total number of shares of the Company’s common stock outstanding is now 9,305,702. Officers and directors purchased an aggregate of 137,678 shares in the rights offering. Subscription rights that were not exercised by 5:00 p.m., New York City time, on June 6, 2012 have expired.

TeamStaff President and Chief Executive Officer Zachary Parker stated, “We are pleased to conclude our rights offering which improves our capital structure to better enable us to compete for and execute larger government contracts that are within our strategic lines of business.”

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