Attached files
file | filename |
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8-K - FORM 8-K - RIGHTNOW TECHNOLOGIES INC | c61506e8vk.htm |
EX-4.1 - EX-4.1 - RIGHTNOW TECHNOLOGIES INC | c61506exv4w1.htm |
EX-10.1 - EX-10.1 - RIGHTNOW TECHNOLOGIES INC | c61506exv10w1.htm |
Exhibit 99.1
For Further Information, Contact:
Investor Relations:
|
Corporate Communications: | |
Todd Friedman or Stacie Bosinoff
|
Jaia Zimmerman | |
The Blueshirt Group
|
RightNow Technologies | |
415.217.7722
|
650.653.4441 Office | |
todd@blueshirtgroup.com
|
650.464.8462 Cell | |
stacie@blueshirtgroup.com
|
jzimmerman@rightnow.com |
RightNow Announces Closing of $175 Million of 2.50% Convertible Senior Notes
due 2030
due 2030
BOZEMAN,
Mont. (November 22, 2010) RightNow Technologies, Inc.
(RightNow or the company) (NASDAQ: RNOW)
today announced the closing of the offering of its $175 million in aggregate principal amount of
convertible senior notes due 2030 (the Notes), which includes $25 million in aggregate
principal amount of Notes issued in connection with the full exercise by the initial purchasers of
their over-allotment option.
The Notes bear interest at a rate of 2.50% per annum, which will be payable semi-annually, and
mature on November 15, 2030, unless earlier redeemed, repurchased or converted. The Notes will
have an initial conversion rate of approximately 31.36 shares of RightNow common stock (subject to
adjustment in certain circumstances) per $1,000 principal amount of notes, which is equivalent to
an initial conversion price of approximately $31.89 per share.
The Notes are general unsecured obligations, ranking equally in right of payment to all existing
and future senior indebtedness and senior in right of payment to any future indebtedness that is
expressly subordinated to the Notes.
RightNow estimates that the net proceeds from the closing will be approximately $169.9 million
after payment of the initial purchasers discounts and offering expenses payable by RightNow.
The company intends to use the net proceeds from the offering for general corporate purposes, which
may include financing potential acquisitions and strategic transactions, stock repurchases, and
working capital. A portion of the net proceeds from the offering may be used for stock repurchases
under RightNows $25 million stock repurchase program.
This press release does not constitute an offer to sell or the solicitation of an offer to buy
securities. Any offers of the securities were made only by means of a private offering circular.
The Notes and the shares of common stock issuable upon conversion of the Notes have not been, and
will not be, registered under the Securities Act or the securities laws of any other jurisdiction
and may not be offered or sold in the United States absent registration or an applicable exemption
from registration requirements.
Cautionary Statement:
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The statements in this release relating to the terms and timing of the proposed offering and the
expected use of proceeds from the offering are forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve
risks and uncertainties that could cause actual results to differ materially, including, but not
limited to, prevailing
market conditions, the anticipated use of the proceeds of the offering, which could change as a
result of market conditions or for other reasons, and the impact of general economic, industry or
political conditions in the United States or internationally. Please refer to RightNows public
filings made with the Securities and Exchange Commission at www.sec.gov for additional and
more detailed information on risk factors, including the risk factors contained in RightNows
Annual Report on Form 10-K, quarterly reports of Form 10-Q, and in other filings with the
Securities and Exchange Commission, that could cause actual results to differ materially from
current expectations.
Readers are cautioned not to place undue reliance on RightNows forward-looking statements, which
speak only as of the date such statements are made. RightNow assumes no obligation to update the
forward-looking information contained in this press release.
FRNOW
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