Bridgeline Receives More than $2.5M in Warrant Exercises

Rhea-AI Summary

Bridgeline Digital (NASDAQ: BLIN) has raised over $2.5M through warrant exercises, boosting its cash balance to approximately $6M. The company plans to use these funds to advance its eCommerce 360 strategy, which aims to enhance traffic, conversions, and average order value for its 2,500 customers. This capital influx demonstrates investor confidence in Bridgeline’s recent acquisitions, including WooRank and HawkSearch, which are designed to enhance online revenues and improve search engine optimization.

Positive

• Raised over $2.5M from warrant exercises.
• Increased cash balance to approximately $6M.
• Funds will support the eCommerce 360 strategy.
• Investor confidence shown through warrant exercises.

Negative

• None.

WOBURN, Mass., July 02, 2021 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ: BLIN), provider of cloud-based marketing technology software, announced today that it has received over $2.5M in cash as a result of warrant exercises so far this week. The warrants were issued in 2019 with a strike price of $4.00.

These funds are above and beyond Bridgeline’s fully capitalized operating plan, bringing its cash balance to approximately $6M. This additional capital will be used to accelerate growth and execute Bridgeline’s eCommerce 360 strategy to drive traffic, increase conversions and grow average order value for its 2,500 customers.

“This warrant exercise demonstrates our investor’s confidence in our recent acquisitions and that our eCommerce 360 strategy will drive faster growth and profitability for Bridgeline,” said Ari Kahn, President and CEO of Bridgeline Digital. “We thank our investors for their ongoing support.”

Bridgeline has acquired two companies in 2021, WooRank and HawkSearch. WooRank drives traffic to web sites by helping improve search engine optimization. HawkSearch grows online revenues for eCommerce websites by increasing conversion and optimizing the search experience for visitors.

About Bridgeline Digital

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

Contact:
Adam Lynch
EVP of Marketing
Bridgeline Digital
press@bridgeline.com 

FAQ

What recent financial developments occurred for Bridgeline Digital (BLIN)?

Bridgeline Digital raised over $2.5M through warrant exercises, increasing its cash balance to approximately $6M.

How will Bridgeline Digital utilize the new funds raised?

The funds will be used to accelerate growth and execute its eCommerce 360 strategy to enhance traffic and conversions.

What companies did Bridgeline Digital acquire in 2021?

In 2021, Bridgeline Digital acquired WooRank and HawkSearch.

What is Bridgeline Digital's eCommerce 360 strategy?

The eCommerce 360 strategy aims to drive traffic, increase conversions, and grow average order value for Bridgeline's customers.