DETROIT, May 15, 2013 (GLOBE NEWSWIRE) -- Compuware Corporation (Nasdaq:CPWR) today announced that its wholly owned subsidiary Covisint Corporation – a leading cloud engagement platform provider – has filed a registration statement on form S-1 with the Securities and Exchange Commission with respect to the issuance of shares of its common stock. The number of shares to be sold and the price range for the proposed offering have yet to be determined.
Credit Suisse Securities (USA) LLC will act as lead book-running manager for the offering, with Pacific Crest Securities (LLC) acting as joint book-running manager. Allen & Company (LLC) will act as co-manager. The offering will be made only by means of a prospectus. When available, a copy of the preliminary prospectus may be obtained from Credit Suisse Securities USA (LLC), Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, 1-800-221-1037. Covisint's shares are expected to be traded on the Nasdaq global stock market under the symbol "COVS".
The proposed IPO is intended, among other things, to give Covisint greater flexibility to pursue strategic opportunities and to increase the company's visibility in the marketplace.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Covisint, a Compuware Company
Covisint provides a leading cloud engagement platform for enabling organizations to securely connect, engage and collaborate with large, distributed communities of customers, business partners and suppliers. The Covisint platform allows global organizations with complex external business relationships to create, streamline and automate external mission-critical business processes that involve the secure exchange of and access to critical information from multiple sources. Learn more at www.covisint.com.
Compuware Corporation, the technology performance company, provides software, experts and best practices to ensure technology works well and delivers value. Compuware solutions make the world's most important technologies perform at their best for leading organizations worldwide, including 46 of the top 50 Fortune 500 companies and 12 of the top 20 most visited U.S. web sites. Learn more at: http://www.compuware.com.
CONTACT: Media Contact Lisa Elkin, Compuware Senior Vice President, Communications and Investor Relations, 313.227.7345