Local Corporation Files Shelf Registration Statement
June 02 2014 - 7:30AM
Business Wire
Intended to Replace Recently Expired Shelf
Registration Statement
Local Corporation (NASDAQ: LOCM), a leading local advertising
technology company, today announced that it has filed a new shelf
registration statement with the Securities and Exchange
Commission.
Once effective, this shelf registration would allow the company
to issue various types of securities, including common stock,
preferred stock, debt securities, and warrants, from time to time,
up to an aggregate of $40 million. The new shelf registration
replaces the company’s prior shelf registration, which expired in
April of 2014.
“We believe that replacing our expiring shelf registration will
allow us continued financial flexibility, if and when a need or
opportunity should arise,” said Fred Thiel, Local Corporation
chairman and CEO. “We presently have no plans to offer any
securities under the shelf registration, or otherwise, but we
believe it is prudent to always be prepared.”
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission, but has not yet
become effective. These securities may not be sold nor may offers
to buy be accepted prior to the time the registration statement
becomes effective. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
About Local Corporation
Local Corporation (NASDAQ:LOCM) is a leading local advertising
technology company that connects millions of online and mobile
consumers with businesses and products through a variety of
innovative digital advertising solutions. The company’s patented
Krillion® local shopping platform aggregates, localizes and
distributes dynamic, national and regional retail shopping content,
from approximately 120,000 store locations, representing nearly 3
million localized products. For more information, visit:
http://www.localcorporation.com or http://www.krillion.com. To
download the company’s iOS® 7-compatible Havvit™ shopping app, go
to: iTunes® (http://bit.ly/1d8Y111).
Forward Looking Statements
This press release contains certain forward-looking statements
that are based upon current expectations and involve certain risks
and uncertainties within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Words or expressions such as
"anticipate," "plan," "will," "intend," "believe" or "expect'" or
variations of such words and similar expressions are intended to
identify such forward-looking statements. These forward-looking
statements are not guarantees of future performance and are subject
to risks, uncertainties, and other factors, some of which are
beyond our control and difficult to predict and could cause actual
results to differ materially from those expressed or forecasted in
the forward-looking statements. Key risks are described in the
filings we make with the U.S. Securities and Exchange Commission.
The forward-looking statements in this release speak only as of the
date they are made. We undertake no obligation to revise or update
publicly any forward-looking statement for any reason.
IOS is a trademark or registered trademark of Cisco in the U.S.
and other countries and is used under license.
Investor Relations:LHAKirsten Chapman,
415-433-3777local@lhai.comorMedia Relations:Local
CorporationCameron Triebwasser,
949-789-5223ctriebwasser@local.com
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