Bridgeline Digital, Inc. (NASDAQ: BLIN), The Digital Engagement
Company™ that helps customers maximize the performance of their
full digital experience from websites and intranets to online
stores, today announced the closing of its previously announced
underwritten public offering for total gross proceeds of
$5,000,000, before deducting underwriting discounts, commissions
and other offering expenses payable by the Company.
The securities offered by the Company consisted
of (i) Class A Units consisting of an aggregate of 1,424,000 shares
of our common stock and warrants to purchase an aggregate of
1,424,000 shares of common stock, at a public offering price
of $0.50 per Class A Unit, and (ii) Class B Units
consisting of 4,288 shares of our Series B Convertible Preferred
Stock, with a stated value of $1,000, and convertible into an
aggregate of 8,576,000 shares of common stock, and warrants to
purchase an aggregate of up to 8,576,000 shares of common stock, at
a public offering price of $1,000 per Class B Unit. The
warrants have an exercise price of $0.50, will be exercisable
upon issuance and will expire five years from the date of issuance.
The Company has granted the underwriters a 45-day option to
purchase an additional 1,500,000 shares of common stock and/or
warrants to purchase an additional 1,500,000 shares of common
stock. In connection with the closing of this offering, the
underwriters have partially exercised their over-allotment option
and purchased an additional 400,000 warrants. The underwriters have
retained the right to exercise the balance of their over-allotment
option within the 45-day time period.
The Company expects to use the net proceeds from
this offering to repay certain term notes, fund the estimated
offering expenses and for general corporate purposes including, but
not limited to, research and development, capital expenditures,
repayment of indebtedness, and additions to working capital. We may
also use a portion of the net proceeds from this offering to pursue
potential strategic acquisitions, although we do not have any
specific plans or arrangements to do so at this time.
ThinkEquity, a division of Fordham Financial
Management, Inc., acted as sole book-running manager for the
offering.
The Securities and Exchange Commission ("SEC")
declared effective a registration statement on Form S-1 relating to
these securities on October 16, 2018. A final prospectus
relating to this offering has been filed with the SEC. The offering
is being made only by means of a prospectus. Copies of the
prospectus relating to the offering may be obtained by
contacting ThinkEquity, 17 State Street,
22nd Floor, New York, NY 10004, telephone (646)
968-9355, email: prospectus@think-equity.com. Investors
may also obtain these documents at no cost by visiting the SEC's
website at http://www.sec.gov.
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 Bridgeline Digital,
Inc.
Bridgeline Digital, The Digital Engagement
Company™, helps customers maximize the performance of their
complete digital experience – from websites and intranets to online
stores and campaigns. Bridgeline’s Unbound (formerly iAPPS®)
platform deeply integrates Web Content Management, eCommerce,
eMarketing, Social Media management, and Web Analytics to help
marketers deliver digital experiences that attract, engage,
nurture, and convert their customers across all channels.
Headquartered in Burlington, Mass., Bridgeline has thousands of
quality customers that range from small- and medium-sized
organizations to Fortune 1000 companies. To learn more, please
visit www.bridgeline.com or call (800) 603-9936.
Contact:
Carole TynerChief Financial Officer (781)
497-3020ctyner@bridgeline.com
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995
All statements included in this press release,
other than statements or characterizations of historical fact, are
forward-looking statements. These forward-looking statements are
based on our current expectations, estimates and projections about
this offering including our intended use of proceeds from this
offering, our industry, management's beliefs, and certain
assumptions made by us, all of which are subject to change.
Forward-looking statements can often be identified by words such as
“anticipates,” “expects,” “intends,” “plans,” “predicts,”
“believes,” “seeks,” “estimates,” “may,” “will,” “should,” “would,”
“could,” “potential,” “continue,” “ongoing,” or similar
expressions, and variations or negatives of these words. These
forward-looking statements are not guarantees of future results and
are subject to risks, uncertainties and assumptions, including, but
not limited to, the underwriter’s exercise of their over-allotment
option to purchase additional securities, the impact of the
weakness in the U.S. and international economies on our business,
our inability to manage our future growth effectively or
profitably, fluctuations in our revenue and quarterly results, our
license renewal rate, the impact of competition and our ability to
maintain margins or market share, the limited market for our common
stock, the volatility of the market price of our common stock, the
ability to maintain our listing on the NASDAQ Capital market, the
ability to raise capital, the performance of our products, our
ability to respond to rapidly evolving technology and customer
requirements, our ability to protect our proprietary technology,
the security of our software, our dependence on our management team
and key personnel, our ability to hire and retain future key
personnel, or our ability to maintain an effective system of
internal controls as well as other risks described in our filings
with the SEC, including in the prospectus relating to this offering
and the risk factors incorporated by reference therein from our
most recent annual report on Form 10-K that was filed with the SEC,
and our other filings with the SEC, including subsequent periodic
reports on Forms 10-Q and 8-K. The information in this release is
provided only as of the date of this release, and Bridgeline
Digital undertakes no obligation to update any forward-looking
statements contained in this release on account of new information,
future events, or otherwise, except as required by law.
Bridgeline Digital (NASDAQ:BLIN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Bridgeline Digital (NASDAQ:BLIN)
Historical Stock Chart
From Apr 2023 to Apr 2024