June 11--Verint Systems Inc. (Nasdaq: VRNT) plans to issue five million shares (9.2% of its share capital). At the current share price of $48.88, the company will raise a gross $250 million. It also plans to raise $300 million in an issue of convertible notes. If underwriters exercise their overallotment options in full, the offering could reach $345 million.
Goldman, Sachs & Co. and Deutsche Bank Securities are the lead joint book-running managers for the stock offering, Credit Suisse, JP Morgan, RBC Capital Markets, Barclays, and Jefferies are the joint book-running managers, and FBR and Oppenheimer & Co. are the co-managers. Deutsche Bank Securities and Goldman, Sachs are the lead joint book-running managers for the convertible notes offering, Credit Suisse, RBC Capital Markets, Barclays, and HSBC are the joint book-running managers, and Centerview Capital is the advisor.
Verint will use a part of the net proceeds from the notes offering to pay the costs of related convertible note hedge transactions. It will use part of the rest of the proceeds together with the net proceeds from the stock offering to repay part of its outstanding debts.
So far this year, the security intelligence solutions provider has made two large acquisitions: US on-premises and cloud customer service solutions provider Kana Software Inc. for $514 million, and Israeli mobile device tracking solutions developer UTX Technologies Ltdfor $83 million
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