Holon, Israel, October 13, 2020 – Sapiens International Corporation N.V. (Nasdaq: SPNS) (TASE: SPNS) (“Sapiens”), a leading global provider of software solutions for the insurance industry, announced today the commencement of a proposed underwritten public offering of $100.0 million of its common shares. Sapiens intends to grant the underwriters a 30-day option to purchase up to an additional $15.0 million of its common shares. All of the shares in the proposed offering are to be sold by Sapiens.
Sapiens intends to use the net proceeds from the proposed offering for general corporate purposes, which may include, among other things, acquisitions or investments in companies, products or technologies and additions to working capital. However, Sapiens has not entered into any agreements for, or otherwise committed to, any specific acquisitions at this time.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Jefferies LLC are acting as the representatives of the underwriters and as joint book-running managers for the proposed offering. Needham & Company, LLC and William Blair & Company, L.L.C. are acting as co-managers for the proposed offering.
The proposed offering is subject to market conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.
The securities described above are being offered solely pursuant to an effective shelf registration statement (including a prospectus) that was filed with the U.S. Securities and Exchange Commission (the “SEC“) on July 11, 2019. This offering will be made only by means of a prospectus supplement and the accompanying prospectus which forms a part of the effective shelf registration statement.
Before you invest, you should read the prospectus included in the registration statement, the preliminary prospectus supplement and the other documents Sapiens has filed or will file with the Securities and Exchange Commission (the “SEC“) for more complete information about Sapiens and the proposed offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement, when available, and the accompanying base prospectus relating to the proposed offering may be obtained from Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, or by telephone: (866) 471-2526, facsimile: (212) 902-9316 or via email: prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone: (866) 803-9204 or via email: prospectus-eq_fi@jpmchase.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone: 1-800-831-9146 or via email prospectus@citi.com; and Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022; by phone at (877) 821-7388; or by e-mail at Prospectus_Department@Jefferies.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Sapiens
Sapiens International Corporation N.V. empowers insurers to succeed in an evolving industry. The company offers digital software platforms, solutions and services for the property & casualty, life, pension & annuity, reinsurance, financial & compliance, workers’ compensation and financial markets. With more than 35 years of experience delivering to over 500 organizations globally, Sapiens has a proven ability to satisfy customers’ core, data and digital requirements.
Investors and Media Contact:
Kimberly Rogers
Hayden IR
Office: 385-831-7337
US Mobile: 541-904-5075
SPNS@HaydenIR.com
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