Marchex Announces Underwriters’ Exercise of Option to Purchase Additional Shares
April 07 2014 - 9:00AM
Business Wire
Marchex, Inc. (NASDAQ:MCHX) today announced the sale of
additional shares of Class B common stock pursuant to the
underwriters’ exercise in full of their option to purchase
additional shares related to the Company’s previously announced
registered public offering of 5,714,000 shares that closed on April
1, 2014. In exercising this option, the underwriters purchased an
additional 514,100 shares of common stock from the Company and an
additional 343,000 shares of common stock from the selling
stockholders, collectively, all at the public offering price less
underwriting discounts and commissions.
Marchex received approximately $32.3 million in net proceeds
from the offering, after deducting underwriting discounts and
commissions and estimated expenses of the offering, including
approximately $5.1 million from the exercise of the underwriters’
option. Marchex expects to use the net proceeds from the offering
for general corporate purposes, which may include acquisitions or
licenses of, or investments in, products, services, technologies or
other businesses. Marchex did not receive any proceeds from the
sale of shares by the selling stockholders.
Deutsche Bank Securities acted as the lead book-running manager
and representative of the underwriters for the offering. RBC
Capital Markets and Piper Jaffray acted as joint book-running
managers. BMO Capital Markets and Stephens Inc. were co-managers
for the offering.
The shares of Class B common stock were sold pursuant to
Marchex’s existing effective shelf registration statement on file
with the Securities and Exchange Commission. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy any securities of Marchex, nor shall there be any sale
of securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering was made only by means of a
prospectus, including a prospectus supplement and accompanying
prospectus, copies of which may be obtained from: Deutsche Bank
Securities Inc. at 60 Wall Street, Attention: Prospectus Group, New
York, NY 10005-2836, by email at prospectus.CPDG@db.com or by phone
at 800-503-4611; RBC Capital Markets, LLC, 3 World Financial
Center, 200 Vesey Street, 8th Floor, New York,
NY 10281-8098, Telephone: 877-822-4089; or Piper Jaffray,
Attention: Equity Capital Markets, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, via telephone at 800-747-3924 or email at
prospectus@pjc.com. The final prospectus may also be obtained on
the SEC’s website at www.sec.gov.
Forward-Looking Statements
This press release contains forward-looking statements that
involve substantial risks and uncertainties. All statements, other
than statements of historical facts, included in this press release
regarding our strategy, future operations, future financial
position, future revenues, other financial guidance, acquisitions,
projected costs, prospects, plans and objectives of management are
forward-looking statements. We may not actually achieve the plans,
intentions or expectations disclosed in our forward-looking
statements and you should not place undue reliance on our
forward-looking statements. Actual results or events could differ
materially from the plans, intentions and expectations disclosed in
the forward-looking statements we make. There are a number of
important factors that could cause Marchex's actual results to
differ materially from those indicated by such forward-looking
statements which are described in the "Risk Factors" section of our
most recent periodic report and registration statement filed with
the SEC. All of the information provided in this release is as of
April 7, 2014 and Marchex undertakes no duty to update the
information provided herein.
About Marchex
Marchex is a mobile advertising technology company. The company
provides a suite of products and services for businesses that
depend on consumer phone calls to drive sales. Marchex’s mobile
advertising platform delivers new customer phone calls to
businesses, while its technology analyzes the data in these calls
to help maximize ad campaign results. Marchex disrupts traditional
advertising models by giving businesses full transparency into
their ad campaign performance and charging them based on new
customer acquisition.
Please visit www.marchex.com, blog.marchex.com or @marchex on
Twitter (Twitter.com/Marchex), where Marchex discloses material
information from time to time about the company, its financial
information, and its business.
Marchex Investor RelationsTrevor Caldwell, 206-331-3600Email:
ir(at)marchex.comOrMEDIA INQUIRIES:Marchex Corporate
CommunicationsSonia Krishnan, 206-331-3434Email:
skrishnan(at)marchex.com
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