Bridgeline Digital (NASDAQ:BLIN) has priced an underwritten public offering of 10M common stock and common stock warrants to purchase up to 10M shares at a combined effective price 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.
Underwriters over-allotment is an additional 1.5M common shares and/or additional common stock warrants to purchase up to an aggregate of 1.5M shares of common stock.
The aggregate gross proceeds to the Company are expected to be approximately $5M.
The Company expects to use the net proceeds from this offering to repay certain term notes, fund the estimated offering expenses, for general corporate purposes and to pursue potential strategic acquisitions.
The offering is expected to close on October 19.
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