Attached files
Exhibit
99.1
Bridgeline
Digital to Raise
$1.1
Million in Private Placement
Burlington, MA, November 4, 2016 —
Bridgeline Digital, Inc. (NASDAQ: BLIN) today announced it has
entered into definitive agreements with institutional and
accredited investors for the private placement of $1.1 million of
Bridgeline Digital’s common stock and common stock
warrants.
Pursuant to the
terms of the private placement, Bridgeline Digital has agreed to
sell an aggregate of 2,135,362 shares of common stock. Of this
amount, $836,000 will be sold at a price of $0.48 per share to
outside investors, and an aggregate of $256,000 will be sold at a price of $0.65 to
certain directors and senior management of Bridgeline
Digital.
Additionally, for
all investors in the private placement, including certain directors
and senior management, Bridgeline Digital will issue warrants to
purchase an aggregate of 1,067,681 shares of common stock at an
exercise price of $0.70 that will expire five and one-half years
from the date on which the warrants are issued and are
non-exercisable for the first six months.
Craig-Hallum
Capital Group LLC is acting as the exclusive placement agent for
the private placement. The private placement is anticipated to
close on or about November 9, 2016, subject to the satisfaction of
customary closing conditions.
The securities sold in the private
placement have not been registered under the Securities Act of
1933, as amended, or state securities laws and may not be offered
or sold in the United States absent registration with the
Securities and Exchange Commission (SEC) or an applicable exemption
from such registration requirements. Bridgeline Digital has
agreed to file a registration statement with the Securities and
Exchange Commission covering the resale of the shares of common
stock, including shares of common stock issuable upon exercise of
the warrants, to be issued in the private
placement.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be
unlawful.
Further information regarding the private placement can be found in
the Current Report on Form 8-K that will be filed by Bridgeline
Digital with the SEC.
About Bridgeline Digital
Bridgeline
Digital, The Digital Engagement Company™, helps customers
maximize the performance of their full digital experience –
from websites and intranets to online stores and campaigns.
Bridgeline’s iAPPS® platform deeply integrates Web
Content Management, eCommerce, eMarketing, Social Media management,
and Web Analytics to help marketers deliver digital experiences
that attract, engage 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.
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
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 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
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 Securities and Exchange
Commission. Any of such risks could cause our actual results to
differ materially and adversely from those expressed in any
forward-looking statement. We expressly disclaim any obligation to
update any forward-looking statement.
For more information, please contact:
Bridgeline Digital, Inc.
Michael D. Prinn
CFO
781.497.3016
mprinn@bridgeline.com