Attached files
Exhibit
99.2
Bridgeline Digital, Inc. Announces Closing of $5 Million Public
Offering
BURLINGTON, Mass., Oct. 19, 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 closing of its
previously announced underwritten public offering for total gross
proceeds of $5,000,000, before deducting underwriting discounts,
commissions and other offering expenses payable by the
Company.
The securities offered by the Company consisted of (i) Class A
Units consisting of an aggregate of 1,424,000 shares of our common
stock and warrants to purchase an aggregate of 1,424,000 shares of
common stock, at a public offering price of $0.50 per
Class A Unit, and (ii) Class B Units consisting of 4,288 shares of
our Series B Convertible Preferred Stock, with a stated value
of $1,000, and convertible into an aggregate of 8,576,000
shares of common stock, and warrants to purchase an aggregate of up
to 8,576,000 shares of common stock, at a public offering price
of $1,000 per Class B Unit. The warrants have an exercise
price of $0.50, will be exercisable upon issuance and will
expire five years from the date of issuance. The Company has
granted the underwriters a 45-day option to purchase an additional
1,500,000 shares of common stock and/or warrants to purchase an
additional 1,500,000 shares of common stock. In connection
with the closing of this offering, the underwriters have partially
exercised their over-allotment option and purchased an additional
400,000 warrants. The underwriters have retained the right to
exercise the balance of their over-allotment option within the
45-day time period.
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.
ThinkEquity, a division of Fordham Financial Management, Inc.,
acted as sole book-running manager for the offering.
The Securities and Exchange Commission ("SEC") declared effective a
registration statement on Form S-1 relating to these securities
on October 16, 2018. A final prospectus relating to this
offering has been 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 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 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.
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About Bridgeline Digital, Inc.
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:
Carole
Tyner
Chief
Financial Officer
(781)
497-3020
ctyner@bridgeline.com
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, 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
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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