Sapiens offers 5.65 million shares

Sapiens International Corp., (NASDAQ and TASE: SPNS) reported it has commenced an underwritten public offering of 5,650,000 of its common shares.

The company said it will grant to the underwriters an option to purchase up to an additional 847,500 of the company´s common shares to cover over-allotments in connection with the offering.

The proceeds are planned to go for general corporate purposes, which may include, among other things, acquisitions or investments in complementary companies, products or technologies, additions to working capital, capital expenditures and other investments.

Barclays Capital Inc. is acting as the sole book-running manager for the offering, William Blair & company L.L.C is acting as the lead manager for the offering and Needham & company, LLC and Roth Capital Partners, LLC are acting as co-managers for the offering.

Sapiens International is a leading global provider of innovative software solutions for the financial services industry. It is a member of the Formula Group (NASDAQ: FORTY) (TASE: FORT),

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