SANTA MONICA, Calif.--(BUSINESS WIRE)--
Leaf Group Ltd. (NYSE:LFGR), a diversified consumer internet company
comprised of several marketplace and media properties, announced today
the closing of its underwritten registered public offering of 3,373,332
shares of its common stock, including full exercise of the underwriter’s
option to purchase additional shares of common stock, at a public
offering price of $7.50 per share. All shares of common stock sold in
the offering were sold by Leaf Group.
Leaf Group received aggregate net proceeds from the offering of
approximately $23.3 million, after deducting the underwriting discounts
and commissions and estimated offering expenses payable by Leaf Group.
Leaf Group intends to use the net proceeds from the offering for working
capital and general corporate purposes. Leaf Group may also use a
portion of the net proceeds to acquire or invest in complementary
businesses, products and technologies, although Leaf Group has no
specific agreements, commitments or understandings to do so at this time.
Craig-Hallum Capital Group acted as the sole book-running manager for
the offering.
The securities described above were offered pursuant to a shelf
registration statement on Form S-3 (File No. 333-216226) that was
declared effective by the U.S. Securities and Exchange Commission, or
the SEC, on March 29, 2017. The offering was made by means of a
prospectus supplement and accompanying prospectus filed with the SEC,
copies of which may be obtained by visiting the SEC’s website at www.sec.gov
or by contacting Craig-Hallum Capital Group LLC, 222 South Ninth Street,
Suite 350, Minneapolis, MN 55402, by telephone at 612-334-6300 or by
email at prospectus@chlm.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or other 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 other
jurisdiction.
About Leaf Group
Leaf Group Ltd. (NYSE: LFGR) is a diversified consumer internet company
that builds enduring, creator-driven brands that reach passionate
audiences in large and growing lifestyle categories, including art and
design, fitness and wellness, home and décor, do-it-yourself projects
and crafts, amongst others. For more information about Leaf Group, visit www.leafgroup.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
include statements regarding, but not limited to, Leaf Group’s expected
uses of the proceeds from the offering. Forward-looking statements can
be identified by the use of words such as “may,” “will,” “plan,”
“should,” “expect,” “anticipate,” “estimate,” “continue” or comparable
terminology. Forward-looking statements involve risks and uncertainties
that could cause actual results or developments to differ materially
from those indicated due to a number of factors affecting Leaf Group’s
operations, markets, products and services. Leaf Group identifies the
principal risks and uncertainties that impact its performance in its
public reports filed with the SEC, including the “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition” sections
of Leaf Group’s most recent Annual Report on Form 10-K, as may be
supplemented or amended by Leaf Group’s subsequent Quarterly Reports on
Form 10-Q. Forward-looking statements speak only as of the date on which
they are made and Leaf Group assumes no obligation to update any
forward-looking statements.
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Source: Leaf Group Ltd.