Bridgeline Digital (BLIN) Enters $1.1M Common Stock, Warrants Private Placement
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Bridgeline Digital, Inc. (Nasdaq: BLIN) today announced it has entered into definitive agreements with institutional and accredited investors for the private placement of $1.1 million of Bridgeline Digital’s common stock and common stock warrants.
Pursuant to the terms of the private placement, Bridgeline Digital has agreed to sell an aggregate of 2,135,362 shares of common stock. Of this amount, $836,000 will be sold at a price of $0.48 per share to outside investors, and an aggregate of $256,000 will be sold at a price of $0.65 to certain directors and senior management of Bridgeline Digital.
Additionally, for all investors in the private placement, including certain directors and senior management, Bridgeline Digital will issue warrants to purchase an aggregate of 1,067,681 shares of common stock at an exercise price of $0.70 that will expire five and one-half years from the date on which the warrants are issued and are non-exercisable for the first six months.
Craig-Hallum Capital Group LLC is acting as the exclusive placement agent for the private placement. The private placement is anticipated to close on or about November 9, 2016, subject to the satisfaction of customary closing conditions.
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