Attached files
Exhibit
99.1
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The Digital Engagement Company
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Bridgeline Digital Prices $5,000,000 Public Offering
Burlington, Mass., October 16, 2018 - Bridgeline Digital,
Inc. (NASDAQ: BLIN), The Digital
Engagement Company™ that helps customers maximize the
performance of their full digital experience from websites and
intranets to online stores, today announced the pricing of
an underwritten public offering of 10,000,000 shares of its common
stock (or common stock equivalents) and common stock warrants to
purchase up to an aggregate of 10,000,000 shares of common stock.
Each share of common stock (or common stock equivalent) is being
sold together with a common stock warrant to purchase one share of
common stock at a combined effective price to the public of $0.50
per share and accompanying common stock warrant. The warrants will
have an exercise price of $0.50 per share, will be exercisable upon
issuance and will expire five years from the date of issuance. The
shares of common stock (or common stock equivalents) and the
accompanying common stock warrants can only be purchased together
in this offering, but will be issued separately.
The
Company has granted the underwriters a 45-day option to purchase
1,500,000 additional shares of common stock and/or additional
common stock warrants to purchase up to an aggregate of 1,500,000
shares of common stock.
The
aggregate gross proceeds to the Company are expected to be
approximately $5.0 million, excluding the proceeds, if any, from
the exercise of the warrants. The Company expects to use the net
proceeds from this offering to repay
certain term notes, fund the estimated offering expenses and for general
corporate purposes including, but not limited to, research and
development, capital expenditures, repayment of indebtedness, and
additions to working capital. We may also use a portion of the net
proceeds from this offering to pursue potential strategic
acquisitions, although we do not have any specific plans or
arrangements to do so at this time.
The
offering is expected to close on October 19, 2018, subject to
customary closing conditions.
ThinkEquity,
a division of Fordham
Financial Management, Inc., is acting as sole book-running manager
for the offering.
A
registration statement on Form S-1 (File No. 333-227430) relating
to these securities has been filed with the Securities and Exchange
Commission (the “SEC”) and was declared effective on
October 16, 2018. This registration statement includes a
preliminary prospectus relating to the offering. A final prospectus
will be filed with the SEC. The offering is being made only by
means of a prospectus. Copies of the prospectus relating to the
offering may be obtained, when available, by contacting
ThinkEquity, 17 State Street, 22nd Floor, New York, NY 10004, telephone
(646) 968-9355, email: prospectus@think-equity.com. Investors may
also obtain these documents at no cost by visiting the SEC's
website at http://www.sec.gov.
This
press release does 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 Bridgeline Digital
Bridgeline
Digital, The Digital Engagement Company™, helps customers
maximize the performance of their complete digital experience
– from websites and intranets to online stores and campaigns.
Bridgeline’s Unbound (formerly iAPPS®) platform deeply
integrates Web Content Management, eCommerce, eMarketing, Social
Media management, and Web Analytics to help marketers deliver
digital experiences that attract, engage, nurture, 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.
Contact:
Company
Contact
Bridgeline
Digital,
Inc.:
Carole
Tyner, Chief Financial
Officer
(781)
497-3020
ctyner@bridgeline.com
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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 this offering
including our intended use of proceeds from this offering, 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, market conditions and the satisfaction of customary
closing conditions related to the proposed public offering,
including the underwriter’s exercise of their over-allotment
option to purchase additional securities, 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
ability to maintain our listing on the NASDAQ Capital market, the
ability to raise capital, 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 SEC,
including in the
preliminary prospectus relating to this offering and the risk
factors incorporated by reference therein from our most recent
annual report on Form 10-K that was filed with the SEC, and our
other filings with the SEC, including subsequent periodic reports
on Forms 10-Q and 8-K. The information in this release is provided
only as of the date of this release, and Bridgeline Digital
undertakes no obligation to update any forward-looking statements
contained in this release on account of new information, future
events, or otherwise, except as required by law.
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