GlobeNewswire Inc | Jul 21, 2021 08:30AM EDT

July 21, 2021

WOBURN, Mass., July 21, 2021 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ: BLIN), provider of cloud-based marketing technology software, announced today it has received over $7.3M in cash, including the $2.5M previously disclosed, as a result of the recent warrant exercises. These warrants were originally issued in 2019 with a strike price of $4.00.

These funds bring Bridgelines cash balance to more than $9M with 8,393,609 shares of common stock outstanding. The new capital is above and beyond Bridgelines fully capitalized operating plan. The additional funds will be used to accelerate growth and execute Bridgelines eCommerce 360 strategy to drive traffic, increase conversions and grow average order value for its 2,500 customers.

Bridgeline is fully capitalized to cover all earnout, and debt obligations from our recent two acquisitions with a strong war chest to accelerate our sales and marketing efforts as well as pursue additional strategic opportunities, said Ari Kahn, President and CEO of Bridgeline Digital. We thank our investors for their ongoing support.

Bridgeline has acquired two companies in 2021, WooRank and Hawksearch. WooRank drives traffic to websites by helping improve search engine optimization. Hawksearch grows online revenues for eCommerce websites by increasing conversion and optimizing the search experience for visitors.

About Bridgeline Digital

Bridgeline helps companies grow online revenues by increasing their traffic, conversion rates, and average order values with its marketing platform and suite of apps. To learn more, please visit www.bridgeline.com or call (800) 603-9936.

Contact:Danielle ErwinVP of MarketingBridgeline Digitalpress@bridgeline.com