BUFFALO, N.Y.--(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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Source: Synacor, Inc.