CHARLESTON, S.C., March 18,
2024 /PRNewswire/ -- Blackbaud (NASDAQ: BLKB)
("Blackbaud" or the "Company"), the leading provider of software
for powering social impact, today announced that its Board of
Directors (the "Board") has unanimously voted to terminate the
Company's stockholder rights plan (the "Rights Plan") effective as
of the close of business on March 18,
2024. The Rights Plan was scheduled to expire on
October 2, 2024. Stockholders do not
have to take any action as a result of this termination.
In deciding to terminate the Rights Plan, the Board determined
that an active Rights Plan is not necessary, at this time, to serve
the best interests of all stockholders.
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the
leading software provider exclusively dedicated to powering social
impact. Serving the nonprofit and education sectors, companies
committed to social responsibility and individual change makers,
Blackbaud's essential software is built to accelerate impact in
fundraising, nonprofit financial management, digital giving,
grantmaking, corporate social responsibility and education
management. With millions of users and over $100 billion raised, granted or managed through
Blackbaud platforms every year, Blackbaud's solutions are
unleashing the potential of the people and organizations who change
the world. Blackbaud has been named to Newsweek's list of America's
Most Responsible Companies, Quartz's list of Best Companies for
Remote Workers, and Forbes' list of America's Best Employers. A
remote-first company, Blackbaud has operations in the United States, Australia, Canada, Costa
Rica and the United
Kingdom, supporting users in 100+ countries. Learn more
at www.blackbaud.com or follow us on X/Twitter, LinkedIn,
Instagram and Facebook.
Forward-looking Statements
Except for historical
information, all of the statements, expectations, and assumptions
contained in this news release are forward-looking statements that
involve a number of risks and uncertainties, including statements
regarding expected benefits of products and product features.
Although Blackbaud attempts to be accurate in making these
forward-looking statements, it is possible that future
circumstances might differ from the assumptions on which such
statements are based. In addition, other important factors that
could cause results to differ materially include the following:
general economic risks; uncertainty regarding increased business
and renewals from existing customers; continued success in sales
growth; management of integration of acquired companies and other
risks associated with acquisitions; risks associated with
successful implementation of multiple integrated software products;
the ability to attract and retain key personnel; risks associated
with management of growth; lengthy sales and implementation cycles,
particularly in larger organizations; technological changes that
make our products and services less competitive; risks related to
the implementation and ultimate success of our stock repurchase
program; and the other risk factors set forth from time to time in
the Company's filings with the U.S. Securities and Exchange
Commission (the "SEC"), copies of which are available free of
charge at the SEC's website at www.sec.gov or upon request from
Blackbaud's investor relations department. All Blackbaud product
names appearing herein are trademarks or registered trademarks of
Blackbaud, Inc.
Investor Contact
IR@blackbaud.com
Media Inquiries
media@blackbaud.com
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SOURCE Blackbaud