Bridgeline Digital Prices $5,000,000 Public Offering

BURLINGTON, Mass., Oct. 17, 2018 (GLOBE NEWSWIRE) -- 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.

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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.

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Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and ...

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