Bridgeline Digital Announces $2.7 Million Registered Direct Offering
February 04 2021 - 9:25AM
Bridgeline Digital, Inc. (NASDAQ: BLIN), a provider of cloud-based
Marketing Technology software, announced today a registered direct
offering of 880,000 shares of its common stock (the “Offering”) at
a price to the public of $3.10 per share, for gross proceeds of
approximately $2.7 million prior to deduction of commissions and
offering expenses payable by Bridgeline. The lead investors for the
Offering include those certain of the Special Situations Funds and
other institutional investors.
Joseph Gunnar & Co., LLC is acting as the
lead placement agent and Taglich Brothers Inc. is acting as
co-placement agent.
The Company intends to use the net proceeds from
the Offering for working capital and general corporate purposes.
The closing of the offering is expected to take place on or about
February 8, 2021, subject to the satisfaction or waiver of
customary closing conditions.
The shares of common stock described above are
being offered pursuant to a "shelf" registration statement on Form
S-3 (File No. 333-239104) that was filed by the Company with the
Securities and Exchange Commission (SEC) and was declared effective
on June 25, 2020. The Company will file a prospectus supplement
with the SEC relating to such shares of common stock. Copies of the
prospectus supplement and the accompanying prospectus relating to
and describing the terms of the offering may be obtained, when
available, from Joseph Gunnar & Co., LLC. 30 Broad Street, 11th
Floor, New York, NY 10004, or by email
at investmentbanking@jgunnar.com.
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 BridgelineBridgeline helps companies grow
online revenues by increasing their traffic, conversion rate, and
average order value with its Unbound platform and suite of apps. To
learn more, please visit www.bridgeline.com or call (800)
603-9936.
Forward-Looking
Statements Certain of the statements
made in this press release are forward-looking, such as those,
among others, relating to our expectations regarding the completion
of the proposed offering. Actual
results or developments may differ materially
from those projected or implied in these forward-looking
statements. Factors that may cause such a difference include,
without limitation, risks and uncertainties related to whether or
not we will be able to raise capital through the sale of shares of
common stock, the final terms of the proposed offering, market and
other conditions, the satisfaction of customary closing conditions
related to the proposed public offering and the impact of general
economic, industry or political conditions in the United States or
internationally. There can be no assurance that we will be able to
complete the proposed offering on the anticipated terms, or at all.
We will need to raise additional capital to fund our operations and
may be unable to raise capital when needed, which would force us to
delay, reduce or eliminate our current business initiatives. You
should not place undue reliance on these forward-looking
statements, which apply only as of the date of this press release.
Certain other risks are more fully discussed in the section
entitled "Risk Factors" in the prospectus supplement and the
prospectus relating to the offering, our most recent annual report
on Form 10-K, as well as discussions of potential risks,
uncertainties, and other important factors in our other filings
with the SEC. Our SEC filings are available on the SEC's website at
www.sec.gov. In addition, any forward-looking statements represent
our views only as of the issuance of this release and should not be
relied upon as representing our views as of any subsequent date. We
explicitly disclaim any obligation to update any forward-looking
statements.
Contact:Mark G. DowneyChief Financial
OfficerBridgeline Digital, Inc.mdowney@bridgeline.com
Bridgeline Digital (NASDAQ:BLIN)
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