Software company SS&C Technologies Holdings Inc. (SSNC) Wednesday announced a public offering of its common stock by selling stockholders.
The aggregate size of the offering is 7.75 million common shares, with 6.5 shares offered by investment funds affiliated with The Carlyle Group and 1.25 million offered by William Stone, the company's chief executive officer.
Upon closing, investment funds affiliated with The Carlyle Group will beneficially own about 18.85% of the common stock of SS&C Holdings, while Stone will beneficially own about 20.49%.
The offering is expected to close and settle on March 19. The company will not receive any of the proceeds from the offering of shares by the selling stockholders.
Barclays Capital Inc. is acting as the sole underwriter for the offering.
Shares of the company are currently losing more than 6 percent in after-hours trade on the Nasdaq.
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