Sonic Foundry Announces Closing of $4.3 Million Public Offering
April 19 2022 - 02:30PM
Sonic Foundry Inc. (Nasdaq: SOFO), the trusted leader in video
capture, management and streaming solutions as well as virtual and
hybrid events, today announced the closing of its previously
announced underwritten public offering of 1,700,000 shares of its
common stock at a public offering price of $2.55 per share. Gross
proceeds before deducting underwriting discounts and commissions
and other offering expenses are approximately $4.3 million.
Maxim Group LLC acted as the sole book-running manager for the
public offering.
The public offering was made pursuant to an effective shelf
registration statement on Form S-3 that was filed with the U.S.
Securities and Exchange Commission (SEC) on February 17, 2022 and
declared effective on March 1, 2022. A final prospectus supplement
describing the terms of the public offering has been filed with the
SEC and will form a part of the effective registration statement.
Copies of the final prospectus supplement and accompanying
prospectus relating to the public offering may be obtained by
contacting Maxim Group LLC, 300 Park Avenue, New York, NY 10022, or
by telephone at (212) 895-3745.
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 jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or
jurisdiction.
About Sonic Foundry®, Inc.
Sonic Foundry (NASDAQ: SOFO) is the global leader for video
capture, management and streaming solutions as well as virtual and
hybrid events. Trusted by thousands of educational institutions,
corporations, health organizations and government entities in over
65 countries, Sonic Foundry’s solutions include Mediasite®,
Mediasite Connect, VidableTM and Global Learning ExchangeTM.
Learn more at www.sonicfoundry.com.
© 2022 Sonic Foundry, Inc. Product and service names mentioned
herein are the trademarks of Sonic Foundry, Inc. or their
respective owners.
Safe Harbor for Forward-Looking Statements
This news release contains forward-looking statements about the
products and services of Sonic Foundry within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward looking statements include
statements about our products and services, our customer base,
strategic investments, new partnerships, our future operating
results and any statements we make about the company’s future.
These types of statements address matters that are subject to many
risks and uncertainties. Actual results could differ materially
from the forward-looking guidance we provide. Any forward-looking
statements should be considered in context of the risk factors
disclosed in our periodic forms 10Q, 10K and other filings with the
SEC. These filings can be accessed on-line at www.sec.gov and other
websites or can be obtained from the company’s investor relations
department. All of the information and disclosures we make in this
news release regarding our business, including any forward-looking
guidance, are as of the date given and we assume no obligation to
update or change this information, regardless of subsequent
events.
Margaret Boyce
Financial Profiles
310.662.8247
mboyce@finprofiles.com
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