Asure Software, Inc. Announces Closing of Public Offering of Common Stock
21 Agosto 2023 - 3:01PM
Asure Software, Inc. (NASDAQ: ASUR), a leading provider of
cloud-based Human Capital Management (HCM) software solutions,
today closed its previously announced underwritten public offering.
In the offering, Asure sold 3,333,333 newly issued shares of its
common stock at the public offering price of $12.00 per share.
Gross proceeds to Asure were approximately $40 million, before
deducting the underwriting discounts and commissions and other
estimated offering expenses payable by Asure.
Asure intends to use the net proceeds received
from the sale of its common stock for general corporate purposes.
Asure may use a portion of the net proceeds from this offering to
(1) acquire or invest in complementary businesses, assets or
technologies, although Asure has not entered into any definitive
agreement with respect to any specific acquisitions or investments
at this time and (2) repay its outstanding indebtedness under its
Loan and Security Agreement, dated September 10, 2021, as amended,
with Structural Capital Investments III, LP and Ocean II PLO LLC,
as administrative and collateral agent for the lenders, although
Asure has not made any decision to repay such indebtedness at this
time.
Stifel and Craig-Hallum acted as joint
book-running managers and Roth Capital Partners, Barrington
Research and Northland Capital Markets acted as co-managers.
The offering was made pursuant to an effective
shelf registration statement that Asure filed with the Securities
and Exchange Commission (SEC). A final prospectus supplement
describing the terms of the offering has been filed with the SEC
and is available for free on the SEC’s website at
www.sec.gov. Copies of the final prospectus supplement
and the accompanying prospectus relating to the offering may also
be obtained from Stifel, Nicolaus & Company, Incorporated,
Attention: Syndicate, One Montgomery Street, Suite 3700, San
Francisco, California 94104, by telephone at (415) 364-2720, or by
email at syndprospectus@stifel.com; or Craig-Hallum Capital Group
LLC, Attention: Equity Capital Markets, 222 South Ninth Street,
Suite 350, Minneapolis, Minnesota 55402, by telephone at (612)
334-6300 or by e-mail at prospectus@chlm.com.
This press release does not constitute
an offer to sell or the solicitation of an offer to buy any
securities of Asure being offered, and shall not constitute an
offer, solicitation or sale of any security in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or other
jurisdiction.
Forward-Looking Statements
The forward-looking statements in this press
release, including with respect to the offering and the intended
use of proceeds of the offering, are made under the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995.
Actual results could differ materially from those indicated by
forward-looking statements because of various risks and
uncertainties, including those described in the prospectus
supplement and the accompanying prospectus and in Asure’s other
filings and reports filed with the SEC. When used in this press
release, the words “may,” “could,” “believes,” “plans,” “expects,”
“will,” “intends,” “estimates” and “anticipates” and similar
expressions are intended to identify forward-looking statements.
Except as required by law, Asure is not obligated to update any
forward-looking statements to reflect events or circumstances that
occur after the date of this press release or to reflect the
occurrence of unanticipated events.
CONTACT:
Randal RudniskiVice President, Financial
Planning & Analysis and Investor Relations(512)
859-3562randal.rudinski@asuresoftware.com
Asure Software (NASDAQ:ASUR)
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