BUFFALO, N.Y.--(BUSINESS WIRE)--
Synacor, Inc. (Nasdaq: SYNC) today announced that it has filed a
shelf registration statement on Form S-3 with the United States
Securities and Exchange Commission ("SEC"). The registration statement
is intended to provide the company with flexibility to access the
capital markets in a timely manner. Under the shelf registration
statement, once declared effective by the SEC, Synacor may from time to
time issue common stock up to an aggregate amount of $40 million.
The company has no current plans to issue securities under the
registration statement. Himesh Bhise, Chief Executive Officer of
Synacor, said, "As we continue to accelerate our growth strategy and
identify opportunities for expansion, we recognize that potential access
to additional capital and the ability to provide opportunities for
institutional investors to access Synacor stock could be beneficial, and
we have filed this shelf registration to give us that optionality."
The shelf registration statement relating to these securities has been
filed with the SEC but has not yet become effective. These securities
may not be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. 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 jurisdiction in which
an offer, solicitation or sale would be unlawful prior to registration
and qualification under the securities law of such jurisdiction. Any
offering of the securities covered by the shelf registration statement
will be made solely by means of a prospectus and an accompanying
prospectus supplement relating to that offering. A copy of the
prospectus included in the registration statement may be obtained on the
SEC's website at www.sec.gov.
After the shelf registration becomes effective, Synacor may offer and
sell securities covered by the registration statement through one or
more methods of distribution, subject to market conditions and Synacor's
capital needs. The terms of any offering under the shelf registration
statement will be established at the time of the offering and described
in a prospectus supplement filed with the SEC prior to the completion of
the offering.
About Synacor
Known for managed portals and apps, advertising, email and
collaboration, authentication, and end-to-end advanced video services,
Synacor (Nasdaq: SYNC) is the trusted technology development,
multiplatform services and revenue partner for video, internet and
communications providers, device manufacturers, and enterprises. Synacor
delivers modern, multiscreen experiences and advertising to their
consumers that require scale, actionable data and sophisticated
implementation. Synacor enables its customers to better engage with
their consumers. www.synacor.com
"Safe Harbor" statement under the Private Securities Litigation
Reform Act of 1995:
This press release contains
forward-looking statements concerning Synacor's expected financial
performance including, without limitation, statements regarding the
Company's plans for raising and using additional capital and the impact
of the filing of a Form S-3 shelf registration statement on the
Company's financial flexibility and access to capital markets. The
achievement or success of the matters covered by such forward-looking
statements involves risks, uncertainties and assumptions. If any such
risks or uncertainties materialize or if any of the assumptions prove
incorrect, the company's results could differ materially from the
results expressed or implied by the forward-looking statements the
company makes.
Further information on these and other factors that could affect the
company's financial results is included in filings it makes with the
Securities and Exchange Commission from time to time, including the
section entitled "Risk Factors" in the company's most recent Form 10-Q
filed with the SEC. These documents are available on the SEC Filings
section of the Investor Information section of the company's website at http://investor.synacor.com/.
All information provided in this release and in the attachments is
available as of November 14, 2016, and Synacor undertakes no duty to
update this information.
SYNC-G
View source version on businesswire.com: http://www.businesswire.com/news/home/20161114006574/en/
Investor Contact:
Sharon Merrill Associates
David Calusdian,
617-542-5300
Executive Vice President
ir@synacor.com
or
Press
Contact:
Synacor
Matt Wolfrom, 716-362-3880
VP, Corporate
Communications
Matt.Wolfrom@synacor.com
Source: Synacor, Inc.
News Provided by Acquire Media
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