Synacor Announces Pricing of Initial Public Offering

Feb 09, 2012

BUFFALO, N.Y., Feb. 9, 2012 (GLOBE NEWSWIRE) -- Synacor, Inc. (Nasdaq:SYNC) today announced the pricing of its initial public offering of 6,818,170 shares of common stock at a price to the public of $5.00 per share. Of the shares of common stock to be sold in the offering, Synacor is offering 5,454,545 shares, and selling stockholders are offering 1,363,625 shares. In addition, Synacor and certain of its stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,022,725 shares of common stock. The Company will not receive any proceeds from the sale of shares by the selling stockholders. The shares are expected to begin trading on The NASDAQ Global Select Market on February 10, 2012 under the ticker symbol "SYNC."

The lead book-running managers of the offering are BofA Merrill Lynch and Citigroup Global Markets, Inc. Stifel Nicolaus Weisel, BMO Capital Markets, Needham & Company, LLC and Oppenheimer & Co. are acting as co-managers for this offering.

The offering of these securities is being made only by means of a prospectus, copies of which may be obtained by contacting: BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080 Attn: Prospectus Department, or by e-mail: dg.prospectus_requests@baml.com; or Citigroup, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, or by calling (800) 831-9146.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on February 9, 2012. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Synacor

Synacor is a leading provider of authentication and aggregation solutions for delivery of online content and services. Synacor delivers its solutions as a set of services through its hosted and managed platform, enabling cable and telecom service providers and consumer electronics manufacturers to provide the online content and services that their consumers increasingly demand. Synacor's platform allows its customers to package a wide array of online content and services with their high-speed Internet, communications, television and other offerings. Synacor's customers offer its services under their own brands on Internet-enabled devices such as PCs, tablets, smartphones and connected TVs. Synacor is headquartered in Buffalo, NY.

The Synacor logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11609

CONTACT: Media Contact:

         Synacor Corporate Communications

         770-846-1911

         press@synacor.com

         

         Investor Contact:

         ir@synacor.com


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