Unassociated Document
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Filed
pursuant to Rule 424(b)(3)
File
Number: 333-114816
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PROSPECTUS
SUPPLEMENT
(To
Prospectus dated December 21, 2006)
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HILL
INTERNATIONAL, INC.
Shares
of Common Stock Issuable upon Exercise of Warrants
The
attached information supplements the Prospectus dated December 21, 2006 of
Hill
International, Inc.
This
Prospectus Supplement is dated October 23, 2007.
Warrant
Redemption
On
October 23, 2007, we issued a notice of redemption to the holders of our
outstanding warrants to purchase shares of our common stock. The agreement
governing the warrants provides that we have the right to call the warrants
for
redemption if the closing sale price of our common stock has been at least
$8.50
per share on each of 20 trading days within any 30 trading day period ending
on
the third business day prior to the date on which notice of redemption is
sent.
The
closing sale price of our common stock was $8.50 or higher for each of the
20
consecutive trading days beginning on September 21, 2007 and ending on October
18, 2007. The
redemption date for the warrants is November 23, 2007.
Because
the redemption price is $0.01 per warrant, we anticipate that all of the
warrants will be exercised prior to the redemption date. Assuming full exercise
of the warrants outstanding as of October 22, 2007, we would receive gross
proceeds of approximately $54.5 million and there would be a total of
approximately 38.2 million shares of our common stock issued and outstanding
on
the redemption date. We intend to use the net proceeds of the warrant exercise
for working capital purposes, or for other general corporate purposes.