Solera Holdings Plans $90M Secondary Offering

Bruce V. Bigelow11/17/08

San Diego’s Solera Holdings (NYSE: SLH) plans to issue 4.5 million shares of its common stock in an underwritten public offering at a price of $20 a share. The company, which is a leading provider of software used to process automobile insurance claims, announced the deal Friday and expects it to close by Wednesday, Nov. 19. Solera’s share price rebounded almost 3 percent in early trading today, to $18.98 shortly after noon, after than tumbling more than 22 percent Friday following the announcement

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788