Bridgeline Receives More than $7.3M in Warrant Exercises
July 21 2021 - 8:30AM
Bridgeline Digital, Inc. (NASDAQ: BLIN), provider of cloud-based
marketing technology software, announced today it has received over
$7.3M in cash, including the $2.5M previously disclosed, as a
result of the recent warrant exercises. These warrants were
originally issued in 2019 with a strike price of $4.00.
These funds bring Bridgeline’s cash balance to more than $9M
with 8,393,609 shares of common stock outstanding. The new capital
is above and beyond Bridgeline’s fully capitalized operating plan.
The additional funds will be used to accelerate growth and execute
Bridgeline’s eCommerce 360 strategy to drive traffic, increase
conversions and grow average order value for its 2,500
customers.
“Bridgeline is fully capitalized to cover all earnout, and debt
obligations from our recent two acquisitions with a strong war
chest to accelerate our sales and marketing efforts as well as
pursue additional strategic opportunities,” said Ari Kahn,
President and CEO of Bridgeline Digital. “We thank our investors
for their ongoing support.”
Bridgeline has acquired two companies in 2021, WooRank and
Hawksearch. WooRank drives traffic to websites by helping improve
search engine optimization. Hawksearch grows online revenues for
eCommerce websites by increasing conversion and optimizing the
search experience for visitors. About Bridgeline
Digital
Bridgeline helps companies grow online revenues by increasing
their traffic, conversion rates, and average order values with its
marketing platform and suite of apps. To learn more, please visit
www.bridgeline.com or call (800) 603-9936.
Contact:Danielle ErwinVP of MarketingBridgeline
Digitalpress@bridgeline.com
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