Sapiens prices primary public offering

Sapiens International Corp., (NASDAQ: SPNS) said it has priced an underwritten public offering of 5,650,000 of its common shares at USD6.25 per share.

The company has also granted to the underwriters for the offering an option to purchase from it up to an additional 847,500 of its common shares to cover over-allotments in connection with the offering.

Sapiens said the proceeds would be used 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 and a member of the Formula Group (NASDAQ: FORTY) (TASE: FORT),
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