SS&C Technologies Holdings, Inc. (the "Company" or "SS&C") (NASDAQ: SSNC) today announced the commencement of an underwritten public offering of up to $400 million of shares of its common stock, subject to market conditions. All of the shares in the offering are to be sold by SS&C. SS&C intends to grant the underwriters a 30-day option to purchase up to an additional $60 million of shares of its common stock for sale in the offering.
The Company intends to use the net proceeds of the common stock offering, together with the proceeds from debt financing transactions, to finance its pending acquisition of Advent Software, Inc. ("Advent"). Completion of the offering is not contingent upon consummation of the acquisition of Advent or the terms of the acquisition. If the acquisition of Advent is not consummated for any reason, the Company will use the net proceeds from this 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. Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Jefferies LLC are acting as co-managers.
The Company has filed a registration statement (including a prospectus) with the SEC for the offering to which this news release relates. Before you invest, you should read the prospectus in that registration statement, the preliminary prospectus supplement and any other documents the Company has filed with the SEC for more complete information about the Company and this offering.