Seeking debt relief, Transaction Systems Architects Inc. of Omaha has filed for an initial public offering.

Last week, the company registered with the Securities and Exchange Commission for a proposed offering of 2.75 million shares of Class A common stock.

Two million of these shares are being made available by the company, with the remaining 750,000 coming from stockholders. The company lists more than 11 million shares.

"This is one of several tactics that could have been taken," said a company spokesman, regarding efforts aimed at debt resolution.

"We could have just borrowed money," he added. "Obviously, there are positives and negatives either way, but we saw this as the best option."

The share offering will be made through a syndicate of underwriters represented by Goldman, Sachs & Co. and Alex. Brown & Sons Inc. Purchase orders will not be accepted until the registration statement becomes effective.

The company has no timetable for the completion of this process.

TSA is the parent company of Applied Communications Inc. and U.S. Software Inc., whose products are used to process transactions through items such as credit cards, point of sale devices, and automated teller machines.

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