BMC SOFTWARE INC
424B1, 1995-12-06
PREPACKAGED SOFTWARE
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<PAGE>
PROSPECTUS

                                 139,600 SHARES

                                     [LOGO]

                               BMC SOFTWARE, INC.

                 139,600 SHARES OF COMMON STOCK, $.01 PAR VALUE

                             ---------------------

    All  of the shares of Common Stock  offered hereby are being sold by certain
stockholders  (the  "Selling  Stockholders")   of  the  Company.  See   "Selling
Stockholders." The Company will not receive any proceeds from the sale of shares
of Common Stock by the Selling Stockholders.

    The  Common Stock is quoted  on the NASDAQ National  Market under the Symbol
"BMCS." On December 5, 1995, the last reported sales price for the Common  Stock
on  the NASDAQ National Market was $39.75  per share. The shares of Common Stock
offered hereby may be sold from time to time in ordinary brokerage  transactions
on  the NASDAQ National  Market, in the over-the-counter  market or in privately
negotiated transactions, through agents or  directly to one or more  purchasers,
at  the prevailing  market price,  at prices  related to  such prevailing market
prices, at  fixed prices  which may  be  changed or  at negotiated  prices.  The
Selling  Stockholders  may effect  such transactions  by  selling the  shares of
Common Stock offered  hereby to  or through agents,  underwriters or  registered
broker-dealers,  and  such  persons  may require  compensation  in  the  form of
discounts, concessions or commissions from  the Selling Stockholders and/or  the
purchaser of such shares of Common Stock.

    All  expenses  of registration  incurred in  connection  with the  shares of
Common Stock offered hereby will be paid  by the Company. All selling and  other
expenses  incurred  by the  Selling  Stockholders will  be  paid by  the Selling
Stockholders. The  Company  has agreed  to  indemnify the  Selling  Stockholders
against certain liabilities under the Securities Act of 1933, as amended.

                            ------------------------

THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND
    EXCHANGE  COMMISSION OR ANY  STATE SECURITIES COMMISSION  NOR HAS THE
       SECURITIES AND EXCHANGE  COMMISSION OR  ANY STATE  SECURITIES
            COMMISSION  PASSED UPON THE  ACCURACY OR ADEQUACY OF
                THIS PROSPECTUS. ANY REPRESENTATION TO  THE
                           CONTRARY IS A CRIMINAL OFFENSE.

                            ------------------------

                The date of this Prospectus is December 6, 1995
<PAGE>
                             AVAILABLE INFORMATION

    The  Company is subject to the  informational requirements of the Securities
Exchange Act  of  1934, as  amended  (the  "Exchange Act"),  and  in  accordance
therewith,  files reports and other information with the Securities and Exchange
Commission (the "Commission"). Reports,  proxy statements and other  information
filed  by  the Company  can  be inspected  and  copied at  the  public reference
facilities maintained by the Commission  at 450 Fifth Street, N.W.,  Washington,
D.C.  20549,  and at  the  Commission's Regional  Offices  at Seven  World Trade
Center, 13th  Floor, New  York, New  York 10048  and CitiCorp  Center, 500  West
Madison  Street,  Suite  1400,  Chicago,  Illinois  60661-2511.  Copies  of such
material can  be obtained  by mail  from  the Public  Reference Section  of  the
Commission at 450 West Fifth Street, N.W., Washington, D.C. 20549, at prescribed
rates.

    The  Company has filed with the  Commission a Registration Statement on Form
S-3 (herein,  together with  all amendments  and exhibits,  referred to  as  the
"Registration  Statement") under  the Securities  Act of  1933, as  amended (the
"Securities Act"). This Prospectus does not  contain all of the information  set
forth  in the  Registration Statement,  certain parts  of which  were omitted in
accordance with  the  rules  and  regulations of  the  Commission.  For  further
information,  reference  is  hereby  made  to  the  Registration  Statement. Any
statements contained herein concerning the  provisions of any document filed  as
an  exhibit to the Registration Statement or otherwise filed with the Commission
are not necessarily complete, and in each instance reference is made to the copy
of such document so filed. Each such  statement is qualified in its entirety  by
such reference.

    The  Common Stock is traded on the  NASDAQ National Market and such reports,
proxy and information  statements and other  information concerning the  Company
are  available at  the offices  of the  NASDAQ located  at 1735  K Street, N.W.,
Washington, D.C. 20006.

               INCORPORATION OF CERTAIN INFORMATION BY REFERENCE

    The following documents previously filed by the Company with the  Commission
are  incorporated herein by  reference: (i) the Company's  Annual Report on Form
10-K for the year ended March 31, 1995; (ii) the Company's Quarterly Reports  on
Form  10-Q for  the quarters  ended June  30 and  September 30,  1995; (iii) the
Company's Current  Report  on Form  8-K  dated October  6,  1995; and  (iv)  the
description  of  the  Company's  Common  Stock  contained  in  the  Registration
Statement on Form 8-A filed with the Commission on August 25, 1988.

    All documents filed by the Company  pursuant to Section 13(a), 13(c), 14  or
15(d) of the Exchange Act subsequent to the date of this Prospectus and prior to
the termination of the offering of the securities offered hereby shall be deemed
to  be incorporated by  reference into this  Prospectus and to  be a part hereof
from the date of filing of such documents. Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall be deemed to
be modified or superseded  for purposes of the  Registration Statement and  this
Prospectus   to  the  extent  that  a  statement  contained  herein  or  in  any
subsequently filed document  that also  is or is  deemed to  be incorporated  by
reference  herein modifies or  supersedes such statement.  Any such statement so
modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part of the Registration Statement or this Prospectus.

    The Company will provide  without charge to  each person to  whom a copy  of
this Prospectus is delivered, upon the written or oral request of such person, a
copy  of any or all of the documents which are incorporated by reference herein,
other than exhibits  to such  documents (unless such  exhibits are  specifically
incorporated  by reference into such documents).  Requests should be directed to
the Office  of the  Corporate  Secretary, BMC  Software,  Inc., 2101  City  West
Boulevard, Houston, Texas 77042-2827 (Telephone number (713) 918-8800).

                                       1
<PAGE>
                                  THE COMPANY

    BMC's  principal executive offices are located  at 2101 City West Boulevard,
Houston, Texas 77042-2827,  and its telephone  number at such  address is  (713)
918-8800.

                                USE OF PROCEEDS

    All  proceeds from the sale of shares of Common Stock offered hereby will go
to the Selling Stockholders. The Company will not receive any consideration  for
the shares of the Common Stock registered hereunder.

                              SELLING STOCKHOLDERS

    The  following table sets forth the names  of and number of shares of Common
Stock held as of the date of this Prospectus that are registered hereunder:

<TABLE>
<CAPTION>
NAME                                                               NUMBER OF SHARES
- -----------------------------------------------------------------  -----------------
<S>                                                                <C>
Marathon Ventures Partners C.V.                                           42,304
Thomas J. Bonomo                                                          32,432
Randall M. Preshun                                                        32,432
Philip R. Wentworth                                                       32,432
</TABLE>

                                 LEGAL MATTERS

    The validity of the Common Stock offered hereby has been passed upon for the
Company by Vinson & Elkins L.L.P.

                                    EXPERTS

    The audited consolidated financial statements  and schedules of the  Company
incorporated  by reference in this Prospectus  and elsewhere in the Registration
Statement, to the extent  and for the periods  indicated in their reports,  have
been  audited by  Arthur Andersen LLP,  independent public  accountants, and are
included herein in reliance upon the authority of said firm as experts in giving
said reports.

                                       2
<PAGE>
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    NO  DEALER,  SALESMAN  OR  OTHER  PERSON HAS  BEEN  AUTHORIZED  TO  GIVE ANY
INFORMATION OR TO MAKE  ANY REPRESENTATIONS OTHER THAN  THOSE CONTAINED IN  THIS
PROSPECTUS IN CONNECTION WITH THE OFFER MADE BY THIS PROSPECTUS AND, IF GIVEN OR
MADE, SUCH INFORMATION OR REPRESENTATIONS MUST NOT BE RELIED UPON AS HAVING BEEN
AUTHORIZED  BY THE COMPANY,  BY ANY SELLING  STOCKHOLDER OR UNDERWRITER. NEITHER
THE DELIVERY OF  THIS PROSPECTUS  NOR ANY SALE  MADE HEREUNDER  SHALL UNDER  ANY
CIRCUMSTANCES CREATE AN IMPLICATION THAT THERE HAS BEEN NO CHANGE IN THE AFFAIRS
OF  THE COMPANY SINCE  THE DATE HEREOF.  THIS PROSPECTUS DOES  NOT CONSTITUTE AN
OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES COVERED
HEREBY IN ANY JURISDICTION OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE  SUCH
OFFER OR SOLICITATION IN SUCH JURISDICTION.

                            ------------------------

                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                    PAGE
                                                    -----
<S>                                              <C>
Available Information..........................           1

Incorporation of Certain Information by
 Reference.....................................           1

The Company....................................           2

Use of Proceeds................................           2

Selling Stockholders...........................           2

Legal Matters..................................           2

Experts........................................           2
</TABLE>

                                     [LOGO]

                               BMC SOFTWARE, INC.

                                 139,600 SHARES
                                  COMMON STOCK
                                ($.01 PAR VALUE)

                             ---------------------

                                   PROSPECTUS

                             ---------------------

                                DECEMBER 6, 1995

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