Open Text Files Shelf Registration, Stock Gaining Traction on Earnings

Open Text Corp. (OTEX) is up 6% late Friday, getting a boost from late-Thursday earnings. But the software company also said it is filing a shelf registration statement on Form S-3 (the Shelf Registration Statement) with the U.S. Securities and Exchange Commission (SEC), which becomes effective automatically.

Filing of the Shelf Registration Statement is in part response to the demand and piggyback registration requests received by OpenText pursuant to the registration rights agreement entered into in connection with the acquisition of GXS Group, Inc. (GXS), and to provide future financial flexibility to the company.

The company, after-hours Thursday, said Q3 sales were $442.8 million, just below Street expectations for $448 million. Non-GAAP EPS were $0.84, above forecasts for $0.80.

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