Windsor financial software/services provider SS&C Technologies Inc. is offering as many as 12.7 million more of its shares to the public, with the bulk of the stock coming from SS&C insiders, the company says.
It would be SS&C’s second public offering since going public last March.
Insiders have allotted 9 million of their SS&C common shares for the offering and another 2 million being sold by the company. SS&C did not specify how it would use its net proceeds
In addition, some of the sellers have given the offering underwriters a 30-day option to sell an extra 1.65 million shares.
Underwriters had not yet priced the offering as of late morning Thursday. But with SS&C shares trading at the time at $19.67, down 46 cents, the offering could generate $216.4 million before underwriting commissions and sales expenses.
J.P. Morgan Securities LLC, Morgan Stanley & Co. Inc. and Deutsche Bank Securities Inc. are joint book-running managers of the offering.
Needham & Co., LLC, Raymond James & Associates, Inc., Wells Fargo Securities, LLC, and William Blair & Co. L.L.C. are co-managers.
