Ramius cuts stake in S1 to 11%

By Lisa Kerner

Charlotte, N.C., Oct. 3 - S1 Corp. shareholders led by Ramius LLC sold 611,700 shares of the company's stock between Sept. 12 and Oct. 1 at prices from $6.00 to $6.7504 each.

The transactions were reported in a schedule 13D 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. Ramius sold 52,509 shares Sept. 9 and Sept. 11.

The investors beneficially own approximately 6.2 million shares, or 11%, of the Norcross, Ga.-based company.

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

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