Attached files
file | filename |
---|---|
8-K - CURRENT REPORT - SharpSpring, Inc. | shsp-20201231.htm |
Exhibit 99.1
SharpSpring Announces Proposed Public Offering of Common
Stock
GAINESVILLE, FL – December 15, 2020 – SharpSpring, Inc. (NASDAQ:
SHSP), a leading cloud-based marketing and sales automation
platform, announced today that it intends to offer and sell shares
of its common stock in an underwritten public offering. SharpSpring
also expects Richard A. Carlson, its Chief Executive Officer and
President, to grant to the underwriters a 30-day option to purchase
up to an additional number of shares of common stock equal to 15%
of shares of common stock to be sold by SharpSpring in the proposed
offering. There can be no assurance as to whether or when the
proposed offering may be completed, or as to the actual size or
terms of the offering.
SharpSpring
intends to use the net proceeds from the sale of common stock in
the offering, together with existing cash and cash equivalents, for
general corporate purposes, including to fund ongoing operations,
to fund growth initiatives and for working capital purposes.
SharpSpring may use the net proceeds to fund all or a portion of
the cost of acquisitions, although it has no agreements or
understanding with respect to any acquisition at this time.
SharpSpring will not receive any proceeds from the sale of common
stock, if any, by Mr. Carlson.
Needham
& Company, LLC and Lake Street Capital Markets, LLC are acting
as joint book-running managers for the offering.
The
offering is being made pursuant to an effective shelf registration
statement on Form S-3 (File No. 333-222850), which was declared
effective by the Securities and Exchange Commission on February 9,
2018. A preliminary prospectus supplement and accompanying
prospectus relating to the offering will be filed with the
Securities and Exchange Commission. When available, copies of the
preliminary prospectus supplement and accompanying prospectus
relating to the offering will be available on the Securities and
Exchange Commission’s website at http://www.sec.gov, or may
be obtained from Needham & Company, LLC, Attention: Syndicate
Prospectus Department, 250 Park Avenue, 10th Floor, New York, New
York 10177, or by telephone at 1-800-903-3268, or by email at
prospectus@needhamco.com, or from Lake Street Capital Markets, LLC,
Attention: Syndicate Department, 920 Second Avenue South, Suite
700, Minneapolis, Minnesota 55402, or by calling (612) 326-1305, or
by emailing syndicate@lakestreetcm.com.
This
press release does not and shall not constitute an offer to sell or
the solicitation of an offer to buy any securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such an offer, solicitation, or sale would be unlawful prior
to the registration or qualification under the securities law of
any such state or jurisdiction.
About SharpSpring, Inc.
SharpSpring,
Inc. (NASDAQ: SHSP) is a rapidly growing, highly-rated global
provider of affordable marketing automation delivered via a
cloud-based Software-as-a-Service (SaaS) Platform. Thousands of
businesses around the world rely on SharpSpring to generate leads,
improve conversions to sales, and drive higher returns on marketing
investments. Known for its innovation, open architecture and free
customer support, SharpSpring offers flexible contracts at a
fraction of the price of competitors making it an easy choice for
growing businesses and digital marketing agencies. Learn more
at sharpspring.com.
Safe Harbor Statement
This
press release contains forward-looking information. Readers are
cautioned not to place undue reliance on any such forward-looking
statements, each of which speaks only as of the date made. Such
statements are subject to certain risks and uncertainties,
including those disclosed in Part I, Item IA, Risk Factors, in
SharpSpring’s Annual Report on Form 10-K for the year ended
December 31, 2019, as amended, as updated by SharpSpring’s
subsequently filed Quarterly Report on Form 10-Q for the quarter
ended September 30, 2020, and in the preliminary prospectus
supplement related to the proposed public offering to be filed with
the SEC. These risks and uncertainties could cause actual results
to differ materially from those currently anticipated or
projected.
Company Contact:
Aaron Jackson
Chief Financial Officer
Phone: 352-448-0967
Email: IR@sharpspring.com
Investor Relations:
Gateway Investor Relations
Matt Glover or Tom Colton
Phone: 949-574-3860
Email: SHSP@gatewayir.com