Absolute Software Corporation (“Absolute”) (Nasdaq: ABST; TSX:
ABST), a leader in Endpoint Resilience™ solutions, today announced
that the underwriters for its previously announced underwritten
public offering in the United States and Canada (the “Offering”) of
5,454,546 common shares (“Common Shares”) have fully exercised
their option to purchase 818,181 additional Common Shares (the
“Option Shares”), at a price of US$11.00 per Common Share, less
underwriting discounts and commissions. Closing of the Offering,
including for the Option Shares, is expected to occur prior to the
close of business on October 30, 2020, subject to the satisfaction
of customary closing conditions.
Needham & Company and Canaccord Genuity acted as joint
book-running managers and Raymond James acted as passive
book-running manager for the Offering.
The Offering was made in Canada pursuant to a prospectus
supplement (the “Supplement”) to Absolute’s short form base shelf
prospectus dated August 27, 2020 (the “Base Prospectus”) and in the
United States pursuant to a registration statement on Form F-10, as
amended, which went effective with the U.S. Securities and Exchange
Commission (the “SEC”) on October 28, 2020, containing the
Supplement and Base Prospectus, and which was filed with the SEC in
accordance with the Multijurisdictional Disclosure System
established between Canada and the United States.
The Supplement and the accompanying Base Prospectus contain
important detailed information about the Offering. The Supplement
and the accompanying Base Prospectus can be found on SEDAR at
www.sedar.com, on EDGAR at www.sec.gov and on the Company’s website
at www.absolute.com. Copies of the
Supplement and accompanying Base Prospectus may also be obtained
from Absolute, email to legalnotices@absolute.com, or you may
request them from:
- Needham & Company, LLC, Attention: Prospectus Department,
250 Park Avenue, 10th Floor, New York, NY 10177, by telephone at
800-903-3268;
- Canaccord Genuity LLC, Attention: Syndicate Department, 99 High
Street, 12th Floor, Boston MA 021990, by email at
prospectus@cgf.com; or
- Raymond James & Associates, Inc., Attention: Equity
Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, by
telephone at 800-248-8863, by email at
prospectus@raymondjames.com.
No regulatory authority or stock exchange has either approved or
disapproved the contents of this press release. This press release
will not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of Common Shares, in any
province, state, or jurisdiction in which such offer, solicitation,
or sale would be unlawful prior to the registration or
qualification under the applicable securities laws of any such
province, state, or jurisdiction.
About Absolute
Absolute is a leader in Endpoint Resilience solutions and the
industry’s only undeletable defense platform embedded in over a
half-billion devices. Enabling a permanent digital tether between
the endpoint and the enterprise who distributed it, Absolute
provides IT and Security organizations with complete connectivity,
visibility, and control, whether a device is on or off the
corporate network, and empowers them with Self-Healing Endpoint®
security to ensure mission-critical apps remain healthy and deliver
intended value.
©2020 Absolute Software Corporation. All rights reserved.
ABSOLUTE, the ABSOLUTE logo, and SELF-HEALING ENDPOINT are
registered trademarks of Absolute Software Corporation in the
United States and/or other countries. Other names or logos
mentioned herein may be the trademarks of Absolute or their
respective owners. The absence of the symbols ™ and ® in proximity
to each trademark, or at all, herein is not a disclaimer of
ownership of the related trademark.
Forward-Looking Statements
This press release contains certain forward-looking statements
and forward-looking information (collectively, “forward-looking
statements”) which relate to future events or Absolute’s future
business, operations, and financial performance and condition.
Forward-looking statements normally contain words like “will”,
“intend”, “anticipate”, “could”, “should”, “may”, “might”,
“expect”, “estimate”, “forecast”, “plan”, “potential”, “project”,
“assume”, “contemplate”, “believe”, “shall”, “scheduled”, and
similar terms and, within this press release, include, without
limitation, statements regarding the satisfaction of closing
conditions relating to the Offering. Forward-looking statements are
provided for the purpose of presenting information about
management’s current expectations and plans relating to the future
and allowing investors and others to get a better understanding of
our anticipated financial position, results of operations, and
operating environment. Readers are cautioned that such information
may not be appropriate for other purposes.
Forward-looking statements are not guarantees of future
performance, actions, or developments and are based on
expectations, assumptions and other factors that management
currently believes are relevant, reasonable, and appropriate in the
circumstances. The material expectations, assumptions, and other
factors used in developing the forward-looking statements set out
herein include or relate to whether the closing conditions for the
Offering will be satisfied on the timeline currently expected.
Although management believes that the forward-looking statements
herein are reasonable, actual results could be substantially
different due to the risks and uncertainties associated with and
inherent to Absolute’s business, as more particularly described in
the “Risk Factors” section of the Supplement and similar sections
in Absolute’s most recently filed Management’s Discussion and
Analysis, which are available under Absolute’s profile on
www.sedar.com. Additional material risks and uncertainties
applicable to the forward-looking statements herein include,
without limitation: risks related to the COVID-19 pandemic and its
impact on Absolute, economic conditions, and global markets; the
failure of Absolute and/or the underwriters to satisfy closing
conditions to the Offering on the timeline currently contemplated
or at all; and other unforeseen events, developments, or factors
causing any of the aforesaid expectations, assumptions, and other
factors ultimately being inaccurate or irrelevant. Many of these
factors are beyond the control of Absolute.
All forward-looking statements included in this press release
are expressly qualified in their entirety by these cautionary
statements. The forward-looking statements contained in this press
release are made as at the date hereof and Absolute undertakes no
obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information,
future events, or otherwise, except as may be required by
applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20201029006364/en/
Media Relations Shannon Tierney press@absolute.com
408-313-9974
Investor Relations Joo-Hun Kim IR@absolute.com
212-868-6760
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