WIS News 10 - Columbia, South Carolina | SuccessFactors prices shares at $15.50 each
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SAN MATEO, Calif. (AP) - SuccessFactors Inc., a business-software maker, said it priced 12 million common shares at $15.50 per share.
That represents a 3 percent discount to the company's closing share price of $15.98 on Tuesday, the day the pricing of the shares was announced. Shares of the San Mateo, Calif., company fell 5 cents in premarket trading on Wednesday.
The transaction is expected to close on Monday.
The company did not say how it plans to spend the funds raised from the share offering.
The underwriters have the option to buy up to an additional 1.8 million common shares.
Goldman Sachs, Deutsche Bank Securities and Morgan Stanley are the joint underwriters of the offering.
Last week, SuccessFactors raised its 2009 revenue outlook, citing particular strength for its products in international markets.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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