Ramius cuts stake in S1 to 9.5%

By Lisa Kerner

Charlotte, N.C., Dec. 15 - S1 Corp. shareholders led by Ramius LLC sold 1,090,141 shares of the company's stock between Oct. 31 and Dec. 12 at prices from $6.002 to $7.6368 each.

The transactions were reported in a schedule 13D/A filed with the Securities and Exchange Commission.

On Sept. 9, the investors entered into a sales plan agreement with Cantor Fitzgerald & Co. allowing for the sale of up to 4,532,390 shares, a prior SEC filing said.

The investors beneficially own approximately 5.11 million shares, or 9.5%, of the Norcross, Ga.-based company.

S1's software is used to automate the processing of financial transactions.

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