Synacor Files Shelf Registration on Form S-3
November 14 2016 - 5:00PM
Business Wire
Synacor, Inc. (Nasdaq: SYNC) today announced that it has
filed a shelf registration statement on Form S-3 with the United
States Securities and Exchange Commission (“SEC”). The registration
statement is intended to provide the company with flexibility to
access the capital markets in a timely manner. Under the shelf
registration statement, once declared effective by the SEC, Synacor
may from time to time issue common stock up to an aggregate amount
of $40 million.
The company has no current plans to issue securities under the
registration statement. Himesh Bhise, Chief Executive Officer of
Synacor, said, “As we continue to accelerate our growth strategy
and identify opportunities for expansion, we recognize that
potential access to additional capital and the ability to provide
opportunities for institutional investors to access Synacor stock
could be beneficial, and we have filed this shelf registration to
give us that optionality.”
The shelf registration statement relating to these securities
has been filed with the SEC 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 a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which an offer,
solicitation or sale would be unlawful prior to registration and
qualification under the securities law of such jurisdiction. Any
offering of the securities covered by the shelf registration
statement will be made solely by means of a prospectus and an
accompanying prospectus supplement relating to that offering. A
copy of the prospectus included in the registration statement may
be obtained on the SEC’s website at www.sec.gov.
After the shelf registration becomes effective, Synacor may
offer and sell securities covered by the registration statement
through one or more methods of distribution, subject to market
conditions and Synacor’s capital needs. The terms of any offering
under the shelf registration statement will be established at the
time of the offering and described in a prospectus supplement filed
with the SEC prior to the completion of the offering.
About Synacor
Known for managed portals and apps, advertising, email and
collaboration, authentication, and end-to-end advanced video
services, Synacor (Nasdaq: SYNC) is the trusted technology
development, multiplatform services and revenue partner for video,
internet and communications providers, device manufacturers, and
enterprises. Synacor delivers modern, multiscreen experiences and
advertising to their consumers that require scale, actionable data
and sophisticated implementation. Synacor enables its
customers to better engage with their consumers.
www.synacor.com
"Safe Harbor" statement under the Private Securities
Litigation Reform Act of 1995:This press release contains
forward-looking statements concerning Synacor's expected financial
performance including, without limitation, statements regarding the
Company’s plans for raising and using additional capital and the
impact of the filing of a Form S-3 shelf registration statement on
the Company’s financial flexibility and access to capital markets.
The achievement or success of the matters covered by such
forward-looking statements involves risks, uncertainties and
assumptions. If any such risks or uncertainties materialize or if
any of the assumptions prove incorrect, the company's results could
differ materially from the results expressed or implied by the
forward-looking statements the company makes.
Further information on these and other factors that could affect
the company’s financial results is included in filings it makes
with the Securities and Exchange Commission from time to time,
including the section entitled "Risk Factors" in the company's most
recent Form 10-Q filed with the SEC. These documents are available
on the SEC Filings section of the Investor Information section of
the company's website at http://investor.synacor.com/. All
information provided in this release and in the attachments is
available as of November 14, 2016, and Synacor undertakes no duty
to update this information.
SYNC-G
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161114006574/en/
Investor Contact:Sharon Merrill AssociatesDavid Calusdian,
617-542-5300Executive Vice Presidentir@synacor.comorPress
Contact:SynacorMatt Wolfrom, 716-362-3880VP, Corporate
CommunicationsMatt.Wolfrom@synacor.com
Synacor (NASDAQ:SYNC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Synacor (NASDAQ:SYNC)
Historical Stock Chart
From Sep 2023 to Sep 2024