Benzinga | Dec 16, 2020 07:35AM EST

SharpSpring Prices 1M Share Common Stock Offering At $15/Share

GAINESVILLE, FL / ACCESSWIRE / December 16, 2020 / SharpSpring, Inc. (NASDAQ:SHSP), a leading cloud-based marketing and sales automation platform, announced today the pricing of its underwritten public offering of 1,000,000 shares of its common stock at a price to the public of $15.00 per share. Richard A. Carlson, SharpSpring's Chief Executive Officer and President, granted to the underwriters a 30-day option to purchase up to an additional 150,000 shares of common stock at the public offering price, less the underwriting discount. The offering is subject to customary closing conditions and is expected to close on December 18, 2020.

Net proceeds from the offering are expected to be approximately $13.9 million after deducting the underwriting discount and estimated offering expenses payable by SharpSpring. SharpSpring will not receive any proceeds from the sale of common stock, if any, by Mr. Carlson.

Needham & Company, LLC and Lake Street Capital Markets, LLC are acting as joint book-running managers for the offering.