Bottomline Technologies Prices Underwritten Public Offering of Common StockPORTSMOUTH, N.H. – June 04, 2010 –
Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment, invoice and document automation solutions, today announced the pricing of an underwritten public offering of 4,200,000 shares of its common stock at a price of $14.50 per share. The company has also granted to the underwriters a 30-day option to acquire an additional 630,000 shares to cover overallotments in connection with the offering. After the underwriting discount and estimated offering expenses payable by the company, the company expects to receive net proceeds of approximately $57.6 million, assuming no exercise of the overallotment option. The offering is expected to close on June 9, 2010 subject to customary closing conditions. Needham & Company, LLC is acting as sole book-running manager for the offering. William Blair & Company, L.L.C. is acting as co-lead manager and Canaccord Genuity Inc., Craig-Hallum Capital Group LLC and Barrington Research Associates, Inc. are acting as co-managers. Bottomline Technologies and the BT logo are trademarks of Bottomline Technologies (de), Inc. which may be registered in certain jurisdictions. All other brand/product names are trademarks of their respective holders. This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the net proceeds from, and closing of, the public offering. The closing of the offering is subject to closing conditions, and there can be no assurance regarding the closing of the offering or the net proceeds from the offering. These forward-looking statements represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements. Company Contact: |