Deltek is preparing a $200 million offering via a combination of securities, according to documents filed this month with the SEC. The company did not spell out any planned use of the proceeds, which it said would be given in a prospectus. The offering will  include common and preferred stock, debt securities and warrants.

Deltek is also registering indeterminate number of subscription rights that enable the holder to buy any of the securities that might be issued under this filing. During the summer,  Deltek completed an offering of subscription rights exercisable for up to 20 million shares. Shareholders received one subscription right for each common share owned with each right entitling them to purchase .4522 shares at a price equal to $3 per share. Whatever the mechanism, Deltek's major shareholder, New Mountain Investments, acquired just over 15.5 million shares this year through the exercise of options at $3 per share. Those purchases cost New Mountain just over $46.7 million a share. Since the stock was trading at $7.51 per share yesterday, an investor could make some money off such a purchase.