Bridgeline Digital Announces $2.7 Million Registered Direct Offering

Bridgeline Digital Announces $2.7 Million Registered Direct Offering          

Woburn, Mass., Feb. 4, 2021 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ: BLIN), a provider of cloud-based Marketing Technology software, announced today a registered direct offering of 880,000 shares of its common stock (the “Offering”) at a price to the public of $3.10 per share, for gross proceeds of approximately $2.7 million prior to deduction of commissions and offering expenses payable by Bridgeline. The lead investors for the Offering include those certain of the Special Situations Funds and other institutional investors.

Joseph Gunnar & Co., LLC is acting as the lead placement agent and Taglich Brothers Inc. is acting as co-placement agent.

The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.  The closing of the offering is expected to take place on or about February 8, 2021, subject to the satisfaction or waiver of customary closing conditions.

The shares of common stock described above are being offered pursuant to a "shelf" registration statement on Form S-3 (File No. 333-239104) that was filed by the Company with the Securities and Exchange Commission (SEC) and was declared effective on June 25, 2020.  The Company will file a prospectus supplement with the SEC relating to such shares of common stock.  Copies of the prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering may be obtained, when available, from Joseph Gunnar & Co., LLC. 30 Broad Street, 11th Floor, New York, NY 10004, or by email at investmentbanking@jgunnar.com.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Bridgeline

Bridgeline helps companies grow online revenues by increasing their traffic, conversion rate, and average order value with its Unbound platform and suite of apps.  To learn more, please visit www.bridgeline.com or call (800) 603-9936.

Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended.  Forward-looking statements are those involving future events and future results that are based on current expectations, estimates, forecasts, and projections as well as the current beliefs and assumptions of the Company’s management.  We often use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “may,” “predict,” “will,” “would,” “could,” “should,” “target” and similar expressions to identify forward-looking statements.  All statements contained in this press release that are not statements of historical fact and other estimates, projections, future trends and the outcome of events that have not yet occurred referenced in this press release should be considered forward-looking statements, including, without limitation, any statement that Bridgeline and Woorank will receive the necessary consents to consummate the acquisition, that the acquisition of Woorank will be consummated, that the strategic goals set forth in the press release will be realized if the acquisition is consummated, and whether the acquisition of Woorank will increase the customer base and technological capabilities of Bridgeline. Actual results or events could differ materially from those indicated in forward-looking statements as a result of risks and uncertainties.  Bridgeline does not assume any obligation to update the information contained in this press release.

Contact:

Mark G. Downey

Chief Financial Officer

Bridgeline Digital, Inc.

mdowney@bridgeline.com