Qumu Announces Pricing of Public Offering of Common Stock
January 27 2021 - 7:00AM
Business Wire
Qumu Corporation (NASDAQ: QUMU), a leading provider of
cloud-based enterprise video technology for organizations of all
sizes, announced today the pricing of its previously announced
underwritten registered public offering of 3,225,000 shares of its
common stock at a price to the public of $6.75 per share. In
addition, Qumu granted the underwriter a 30-day option to purchase
at the public offering price up to 483,750 additional shares of
common stock to cover over-allotments, if any. The gross proceeds
to Qumu from this offering are expected to be approximately $21.8
million, before deducting underwriting discounts and commissions
and estimated offering expenses payable by Qumu, but excluding any
exercise of the underwriter’s option to purchase additional shares
of common stock. The offering is expected to close on or about
January 29, 2021, subject to the satisfaction of customary closing
conditions.
Craig-Hallum Capital Group is acting as the sole managing
underwriter for the offering.
The securities described above are being offered 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 registration
statement on Form S-3 also relating to the public offering of the
shares of common stock described above was filed with the SEC on
January 25, 2021 pursuant to Rule 462(b) and is effective upon
filing. A preliminary prospectus supplement and accompanying
prospectus relating to and describing the terms of the proposed
offering were filed with the SEC on January 25, 2021. The final
prospectus supplement and accompanying prospectus relating to the
offering will be filed with the SEC and, when available, 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.
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 Corporation (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 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,
the expected closing date of the offering and the expected uses of
the proceeds from the 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. Qumu identifies the principal risks and uncertainties
that impact its performance in its public reports filed with the
SEC, including the “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition” sections of Qumu’s most recent
Annual Report on Form 10-K, as may be supplemented or amended by
Qumu’s subsequent Quarterly Reports on Form 10-Q. 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/20210127005315/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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