Jack Henry To Raise Funds In Stock Offering

- MONETT, Mo. (07/17/00) - Jack Henry &Associates said it plans to raise about $95 million with a stockoffering of 2 million shares to pay off bank loans that financedthe company's acquisitions spree last year. The computer servicesfirm paid $110 million to acquire four technology firms last year,including Symitar Systems, the credit union data processor.Proceeds from the offering will be used to pay off the remaining$60 million of the $75 million bank debt incurred to finance theacquisitions. The company is also registering another 3 millionshares, worth $150 million, for possible sale by the family of JohnW. Henry, company founder.