Callidus Shares Slip After Secondary Offering Announced

Callidus Software Inc. shares declined in the extended session Tuesday after the company announced a secondary share offering. Callidus shares slipped 2.2% to $18.49 after hours. The company said it plans to offer 4 million shares of stock, with an additional 600,000 shares to cover over-allotments. The company currently has 57.1 million shares outstanding. Callidus said it will use proceeds for working capital and general corporate purposes. Piper Jaffray and Credit Suisse Securities are acting as joint bookrunners.