SEACHANGE INTL INC - SEAC STOCK NEWS

SeaChange International, Inc. (NASDAQ: SEAC) has priced an underwritten public offering of 10,323,484 shares of common stock at $1.85 per share, amounting to gross proceeds of approximately $19.1 million. An option for underwriters to purchase an additional 15% could raise total proceeds to about $22.0 million. The net proceeds will be for general corporate purposes, including working capital and potential acquisitions. The offering is set to close on April 1, 2021, subject to conditions. Aegis Capital Corp. is the sole book-running manager.

SeaChange International, Inc. (NASDAQ: SEAC) announced plans for an underwritten public offering of its common stock. The net proceeds from this offering will be used for general corporate purposes, including working capital and potential acquisitions. This decision is contingent on market conditions, and specifics regarding the offering's size and terms are yet to be finalized. Aegis Capital Corp. is the sole book-running manager of the offering. The offering is conducted under an effective shelf registration statement filed with the SEC.

SeaChange International, Inc. (NASDAQ: SEAC) has secured a multi-year, multi-million-dollar contract with a leading broadband service provider in the U.S. This partnership will transition the provider's infrastructure to a virtual platform, enhancing service availability and reducing hardware requirements. Additionally, SeaChange's technology will optimize ad server management for improved monetization of TV services. This contract represents one of the highest average annual values in over two years, demonstrating SeaChange's strategic success in delivering comprehensive software and services to major video providers.

SeaChange International (NASDAQ: SEAC) showcased operational advancements in OTT streaming technologies, indicating a strengthened position for fiscal 2022. Under the new leadership of Executive Chairman Robert Pons, the company has refined its go-to-market strategy and enhanced its technology platform to align with the growing demand for video streaming services. SeaChange has invested over $250 million in its technology, serving over 80 customers globally, including successful partnerships with Grupo TVCable and Westcoast Digital Services to support OTT services.

SeaChange International (NASDAQ: SEAC) appointed Matthew Stecker to its Board of Directors on February 10, 2021, replacing Andrew Sriubas. Stecker brings over 30 years of technology experience, previously serving as Chairman and CEO of Evolving Systems. He is expected to contribute valuable insights as the company pursues growth initiatives. SeaChange maintains a four-member board, with three independent directors. The company provides video delivery platforms for over 50 million subscribers globally, enhancing its service offerings through scalable solutions.

SeaChange International (NASDAQ: SEAC) has appointed Chairman Roberts Pons as Executive Chairman following the resignation of Yossi Aloni as CEO. Effective January 8, 2021, Pons, who joined the board in February 2019, will oversee operations until a new CEO is appointed. The board has initiated the search for a permanent CEO to drive long-term growth. Notably, SeaChange has secured 39 new wins since launching its Framework platform in 2019, including a significant deal with a major mobile operator, marking a pivotal moment for the company.

SeaChange International (NASDAQ: SEAC) announced its cloud-based OTT streaming platform, the SeaChange Framework, which supports content providers with an end-to-end solution for video delivery. The platform includes features such as video asset management, user experience management, and dynamic advertising options for both VOD and linear content. Scott Apgar, VP of Advanced Advertising, highlighted the platform's capability to generate new advertising revenue through automated ad inventory sales. SeaChange's technology is designed for scalability and can be deployed in various environments, aiding over 50 million subscribers globally.

SeaChange International (NASDAQ: SEAC) reported its fiscal Q3 2021 results, maintaining revenue at $5.0 million compared to Q2 2021. The company secured 10 new customer wins since August 2020, focusing on its Video Apps platform that facilitates direct-to-consumer streaming. Notably, SeaChange landed a major $100 million revenue opportunity with a top mobile network operator. Despite operational challenges, cost-optimization measures led to a 45% year-over-year decrease in operating expenses. The GAAP net loss was $5.1 million, improving from the previous quarter.

SeaChange International (NASDAQ: SEAC) announces a conference call on December 10, 2020, at 5:00 p.m. ET to review its financial results for the third quarter ended October 31, 2020. A press release detailing these results will be available prior to the call. The call will be hosted by SeaChange management, followed by a Q&A session. Interested parties can join via U.S. dial-in at 877-407-8037 or international at 201-689-8037. Live broadcast and replay will be accessible through the investor relations section of SeaChange's website.