Simulation Offering

Simulation Sciences Inc. said Thursday that it will try to raise $48.6 million in a public offering of 2.7 million shares, some of which are being sold by certain shareholders, including its president and other officers.

The Brea provider of software for the petroleum industry said it expects to sell the stock at $18 a share and to receive $43.6 million of the proceeds.

Stockholders selling a total of 113,182 shares will receive $1.9 million. They include Charles R. Harris, the president, who is selling 25,000 shares, or 36% of his stake, and Dirk M. Pfeiffer, executive vice president for sales. Pfeiffer also is selling 25,000 shares, or 55.5% of his stake. Stockholder John L. Dial II is selling all of his 51,650 shares.

Simulation Sciences said it expects to use the net proceeds from the offering for general corporate purposes and working capital, including continued investments in product development and expansion of sales and marketing activities.

Underwriters, who will receive the rest of the proceeds, have a right to buy 405,000 additional shares for a month after the sale. If purchased, those shares would give the company net proceeds of $50.5 million.