PLANO, Texas, May 5, 2015 /PRNewswire/ -- BG Staffing,
Inc. (NYSE MKT: BGSF), a national provider of temporary
staffing services across a diverse set of industries, today
announced that it expects to enter into subscription agreements
with certain investors to sell an aggregate of 636,500 shares of
its common stock in a registered shelf offering for gross proceeds
of approximately $7,000,000, before
deducting placement agent fees and estimated offering expenses. The
shares are being offered at a price of $11.00 per share.
Taglich Brothers, Inc. is acting as exclusive placement agent
for the offering. National Securities Corporation is acting as the
qualified independent underwriter for the offering.
The Company intends to use all of the funds to reduce debt. The
closing of this offering is expected to occur on or about
May 6, 2015, subject to satisfaction
of customary closing conditions.
L. Allen Baker, Jr., President and CEO, said that, "This
financing allows us to continue to execute on our proven business
model of organic growth and accretive acquisitions. During the
first quarter this year we completed our latest acquisition which
diversified our reach into the accounting and finance market. We
continually seek appropriate acquisitions which would broaden our
service offerings and/or geographic footprint in the U.S."
About the Offering
The securities described above are being offered pursuant to the
Company's effective "shelf" registration statement on Form S-3
(File No. 333-201178), which was declared effective by the
Securities and Exchange Commission (SEC) on January 7, 2015, and the prospectus and
prospectus supplement filed with the SEC on May 4, 2015. When filed with the SEC, copies of
the prospectus supplement and accompanying base prospectus relating
to this offering may be obtained from the SEC's website at
http://www.sec.gov, or by request to Taglich Brothers, Inc. at 275
Madison Avenue, New York, New York
10016, by telephone at 212-661-6886.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About BG Staffing, Inc.
Headquartered in Plano, Texas,
BG Staffing provides staffing services to a variety of industries
through its various divisions. BG Staffing is primarily a temporary
staffing platform that has integrated several regional and national
brands and is set to achieve scalable growth. The Company's
acquisition philosophy is one that not only brings financial
growth, but unique and dedicated talent within the companies. This
has led to a strong management team, with tenure and a desire to
offer exceptional service to candidates, customers and investors.
Please visit www.bgstaffing.com for more information.
Forward-Looking Statements
The forward looking statements in this press release are made
under the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. The Company's actual results could
differ materially from those indicated by the forward-looking
statements because of various risks and uncertainties including
those listed in Item 1A of the Company's Annual Report on Form 10-K
and in the Company's other filings and reports with the Securities
and Exchange Commission. All of the risks and uncertainties are
beyond the ability of the Company to control, and in many cases,
the Company cannot predict the risks and uncertainties that could
cause its actual results to differ materially from those indicated
by the forward-looking statements. When used in this press release,
the words "believes," "plans," "expects," "will," "intends," and
"anticipates" and similar expressions as they relate to the Company
or its management are intended to identify forward-looking
statements. Except as required by law, the Company is not obligated
to publicly release any revisions to these forward-looking
statements to reflect the events or circumstances after the date of
this press release or to reflect the occurrence of unanticipated
events.
CONTACT:
Terri
MacInnis, VP of Investor Relations
Bibicoff + MacInnis, Inc.
818.379.8500 terri@bibimac.com
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SOURCE BG Staffing