Bridgeline Digital Goes Private, Raises $1.1m

Bridgeline Digital to Raise $1.1 Million in Private Placement          

BURLINGTON, Mass., Nov. 15, 2016 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ:BLIN), a provider in cloud-based Web Content Management, eCommerce and Marketing Automation software, 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.

The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (SEC) or an applicable exemption from such registration requirements. Bridgeline Digital has agreed to file a registration statement with the Securities and Exchange Commission covering the resale of the shares of common stock, including shares of common stock issuable upon exercise of the warrants, to be issued in the private placement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.

Further information regarding the private placement can be found in the Current Report on Form 8-K that will be filed by Bridgeline Digital with the SEC.

About Bridgeline Digital

Bridgeline Digital, The Digital Engagement Company™, helps customers maximize the performance of their full digital experience - from websites and intranets to online stores and campaigns. Bridgeline's Unbound (formerly iAPPS®) platform deeply integrates Web Content Management, eCommerce, eMarketing, Social Media management, and Web Analytics to help marketers deliver digital experiences that attract, engage, nurture and convert their customers across all channels. Headquartered in Burlington, Mass., Bridgeline has thousands of quality customers that range from small- and medium-sized organizations to Fortune 1000 companies. To learn more, please visit or call (800) 603-9936.

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