SS&C Technologies Commences $400 Mln Stock Offering

(RTTNews) - SS&C Technologies Holdings Inc (SSNC), a provider of software products to financial services companies, on Wednesday announced the commencement of an underwritten public offering of up to $400 million of its common shares. All of the shares in the offering are to be sold by SS&C.

The company said it intends to grant the underwriters a 30-day option to purchase up to an additional $60 million of shares for sale in the offering.

SS&C said it plans to use the net proceeds of the offering, together with the proceeds from debt financing transactions, to finance its pending acquisition of Advent Software Inc.

The company said that if the acquisition of Advent is not consummated, it would use the proceeds from the stock offering for general corporate purposes.

The offering is being made through an underwriting group led by Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and Credit Suisse Securities (USA) LLC, who are acting as joint book-running managers.