Qumu Announces Launch of Public Offering of $20 Million of Common Stock
January 25 2021 - 4:03PM
Business Wire
Qumu Corporation (NASDAQ: QUMU), a leading provider of
cloud-based enterprise video technology for organizations of all
sizes, announced today the launch of an underwritten registered
public offering of $20 million of its common stock. In addition,
Qumu intends to grant the underwriter a 30-day option to purchase
up to an additional $3 million of its common stock, or 15% of the
shares of its common stock sold in the offering, to cover
over-allotments, if any. All shares of common stock to be sold in
the proposed offering will be sold by Qumu. The proposed offering
is subject to market and other conditions, and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering. Qumu intends to use
the net proceeds from this offering for working capital and general
corporate purposes.
Craig-Hallum Capital Group is acting as the sole managing
underwriter for the proposed offering.
The proposed offering is being made pursuant to a shelf
registration statement on Form S-3 (File No. 333-233470) that was
declared effective by the U.S. Securities and Exchange Commission,
or the SEC, on September 5, 2019. A preliminary prospectus
supplement and accompanying prospectus relating to and describing
the terms of the proposed offering have been filed with the SEC and
may be obtained by visiting the SEC’s website at www.sec.gov or by
contacting Craig-Hallum Capital Group LLC, 222 South Ninth Street,
Suite 350, Minneapolis, MN 55402, by telephone at 612-334-6300 or
by email at prospectus@chlm.com. The final terms of the proposed
offering will be disclosed in a final prospectus supplement to be
filed with the SEC.
Before investing, interested parties should read the preliminary
prospectus supplement and the accompanying base prospectus in the
registration statement and other documents the Company has filed or
will file with the SEC for more complete information about the
Company and the offering. 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 or other
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 other jurisdiction.
About Qumu
Qumu (Nasdaq: QUMU) is a leading provider of best-in-class tools
to create, manage, secure, distribute and measure the success of
live and on-demand video for the enterprise. Backed by the most
trusted and experienced team in the industry, the Qumu Cloud
platform enables global organizations to drive employee engagement,
increase access to video, and modernize the workplace by providing
a more efficient and effective way to share knowledge.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These include statements regarding, but not limited to,
Qumu’s intention to offer the securities and the expected uses of
the proceeds from the proposed offering. Forward-looking statements
can be identified by the use of words such as “may,” “will,”
“plan,” “should,” “expect,” “anticipate,” “estimate,” “continue” or
comparable terminology. Forward-looking statements involve risks
and uncertainties that could cause actual results or developments
to differ materially from those indicated due to a number of
factors affecting Qumu’s operations, markets, products and
services. The risks and uncertainties that could cause actual
results to differ materially from those expressed or implied in
these forward-looking statements include the risk factors described
in the Company’s Quarterly Report on Form 10-Q for the quarter
ended June 30, 2020, any subsequently filed Form 10-Q and Current
Reports on Form 8-K and other filings with the Securities and
Exchange Commission.
Forward-looking statements speak only as of the date on which
they are made and Qumu assumes no obligation to update any
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210125005604/en/
Company Contact: Dave Ristow Chief Financial Officer Qumu
Corporation Dave.Ristow@qumu.com +1.612.638.9045
Investor Contact: Matt Glover or Tom Colton Gateway
Investor Relations QUMU@gatewayir.com +1.949.574.3860
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