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Virtusa Corporation
, a global IT services company that offers a
broad range of information technology services, including IT consulting,
technology implementation, and application outsourcing services, today
announced that it has filed a shelf registration statement for shares of its
common stock on Form S-3 with the Securities and Exchange Commission (SEC).
Under the shelf registration statement, upon being declared effective by the
SEC, the Company may offer and sell, from time to time, up to $100 million of
shares of common stock in one or more future public offerings. In addition,
selling stockholders to be named in a prospectus supplement may, from time to
time in one or more offerings, offer and sell up to 500,000 shares of Virtusa
common stock. The Company will not receive any proceeds from the sale of
common stock by selling stockholders.
The shelf registration statement is intended to give Virtusa additional
flexibility to access the capital markets in the future to take advantage of
growth opportunities and continue to invest in support of its business, and to
provide the selling stockholders additional financial liquidity. The terms of
any future offering under the registration statement, and the intended use of
the net proceeds resulting therefrom, will be established at the time of any
such offering and will be described in a prospectus supplement filed with the
SEC in connection with the offering.
The shelf registration statement has been filed with the SEC but has not yet
become effective. The shares of common stock which may be offered by Virtusa
under the shelf registration statement may not be sold, nor may offers to buy
be accepted, before the time the shelf registration statement becomes
effective.
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