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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of l934
Date of report (Date of earliest event reported) August 20, 1997
SYSTEM SOFTWARE ASSOCIATES, INC.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-15322 36-3144515
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(Commission File Number) (I.R.S. Employer
Identification No.)
500 West Madison
Chicago, Illinois 60661
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(Address of principal executive offices) (Zip Code)
(312) 258-6000
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(Registrant's Telephone Number, Including Area Code)
N/A
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(Former name or former address, if changed since last report.)
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Item 5. Other Events
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On August 20, 1997, the Registrant issued a press release announcing its
plans to revise its proposed public and private financing transactions. A copy
of the press release is attached as an exhibit.
Item 7. Financial Statements and Exhibits
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(c) Exhibits
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99 Press Release dated August 20, 1997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SYSTEM SOFTWARE ASSOCIATES, INC.
Date August 20, 1997 BY: /s/ Joseph J. Skadra
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Joseph J. Skadra, Chief Financial Officer
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SSA System Software Associates, Inc. NEWS RELEASE
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Corporate Headquarters
500 West Madison . Chicago, Illinois, U.S.A. 60661 . Telephone (312) 258-6000 .
Facsimile: (312) 474-7500
Investor Relations Contact Corporate Contact
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Joseph J. Skadra Roger E. Covey
Chief Financial Officer CEO and Chairman
(312) 258-6000 (312) 258-6000
Facsimile: (312) 474-7500 Facsimile: (312) 474-7500
[email protected] [email protected]
FOR IMMEDIATE RELEASE
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SSA Announces New Financing
CHICAGO, IL, August 20, 1997 - System Software Associates, Inc. (NASDAQ:
SSAX), announced today that the Company has signed an engagement letter with
a leading investment bank for two new financing transactions, which, in
total, are on terms more favorable to the Company than its previously
proposed financings. The Company expects a $10 million private transaction
to be closed within one week. The new public transaction will be a $100
million registered, underwritten offering of subordinated convertible notes
due 2002, with a warrant component. The interest rate and conversion price
of the public notes will be determined based upon market conditions at the
time the public notes are sold. The Company expects to file an amendment
covering the offering with the Securities and Exchange Commission in
approximately one week and expects the offering to be priced before the
middle of September.
Roger E. Covey, the Company's Chairman and CEO, said that "the purpose of
the offering is to obtain funds to repay indebtedness and provide working
capital on a basis measurably less dilutive to existing shareholders than
the prior proposed transactions."
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The private transaction has not been registered under the Act and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements.
This release shall not constitute an offer to sell or the solicitation of an
offer to buy any of the securities referred to herein. An offer of the
securities shall be made only by means of a prospectus.
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