Synacor Announces Proposed Public Offering of Common Stock
April 05 2017 - 4:21PM
Business Wire
Synacor, Inc. (Nasdaq: SYNC) (Synacor), the trusted technology
development, multiplatform services and revenue partner for video,
internet and communications providers, device manufacturers, and
enterprises, today announced that it intends to offer shares of its
common stock in an underwritten public offering. The offering is
subject to market conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual
size or terms of the offering.
Canaccord Genuity and Needham & Company are acting as joint
book-running managers for the offering.
Synacor intends to use the net proceeds from this offering for
general corporate purposes and working capital. In addition,
Synacor believes the net proceeds will strengthen its balance sheet
and allow it to acquire, or finance on more attractive terms,
equipment and make other capital investments necessary to support
additional customers and the delivery of additional services to
existing customers. Synacor may also use a portion of the net
proceeds to acquire or invest in businesses, products or
technologies that it believes are complementary to its own,
although it is not currently planning or negotiating any such
transactions.
The offering is being made pursuant to an effective shelf
registration statement (333-214600) previously filed with the
Securities and Exchange Commission (SEC). A preliminary prospectus
supplement relating to and describing the terms of the offering
will be filed with the SEC and will be available on the SEC’s
website at www.sec.gov.
When available, copies of the preliminary prospectus supplement
relating to these securities may also be obtained by contacting
Canaccord Genuity Inc., Attention: Syndicate Department, 99 High
Street, 12th Floor, Boston, Massachusetts 02110, by telephone at
(617) 371-3900, or by email at prospectus@canaccordgenuity.com; or
by contacting Needham & Company, LLC, Attention: Syndicate
Prospectus Department, 445 Park Avenue, 4th Floor, New York, New
York 10022, or by telephone at 1-800-903-4696, or by email at
prospectus@needhamco.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of these securities, nor will
there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale is not
permitted.
About Synacor
Synacor (Nasdaq: SYNC) is the trusted technology development,
multiplatform services and revenue partner for video, internet and
communications providers, device manufacturers, and enterprises.
Synacor’s mission is to enable its customers to better engage with
their consumers. Its customers use Synacor’s technology platforms
and services to scale their businesses and extend their subscriber
relationships. Synacor delivers managed portals, advertising
solutions, email and collaboration platforms, end-to-end video
solutions and cloud-based identity management.
Safe Harbor Statement
This release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, including but not limited to statements regarding the
closing of the public offering. These forward-looking statements
are subject to a number of risks, including the satisfaction of
customary closing conditions related to the proposed public
offering and the risk factors set forth from time to time in
Synacor’s SEC filings, including but not limited to the risks that
are described in the “Risk Factors” and “Management’s Discussion
and Analysis of Financial Condition and Results of Operations”
sections of Synacor’s Annual Report on Form 10-K for the year ended
December 31, 2016, which is on file with the SEC and available on
the SEC's website at www.sec.gov. In addition to the risks
described above and in Synacor’s other filings with the SEC, other
unknown or unpredictable factors also could affect Synacor’s
results. No forward-looking statements can be guaranteed and actual
results may differ materially from such statements. The information
in this release is provided only as of the date of this release,
and Synacor undertakes no obligation to update any forward-looking
statements contained in this release on account of new information,
future events, or otherwise, except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20170405006305/en/
Investor Contact:Sharon Merrill AssociatesDavid Calusdian,
617-542-5300Presidentir@synacor.com
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