SharpSpring, Inc. (SHSP) Announces Proposed Public Offering of Common Stock

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.

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