SANTA MONICA, Calif.--(BUSINESS WIRE)--
Leaf Group Ltd. (NYSE:LFGR), a diversified consumer internet company
comprised of several marketplace and media properties, announced today
that it intends to offer and sell approximately $22,000,000 of shares of
its common stock in an underwritten registered public offering. In
addition, Leaf Group intends to grant the underwriter a 30-day option to
purchase up to an additional 15% of the shares of its common stock sold
in the offering to cover over-allotments, if any. All shares of common
stock to be sold in the proposed offering will be sold by Leaf Group.
The proposed offering is subject to market and other conditions, and
there can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
Leaf Group intends to use the net proceeds from the proposed offering,
if completed, 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 is acting as the sole book-running manager
for the proposed offering.
The proposed offering is being made 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. A preliminary prospectus supplement and accompanying prospectus
relating to and describing the terms of the proposed offering have been
filed with the SEC and 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.
The final terms of the proposed offering will be disclosed in a final
prospectus supplement to be filed with the SEC.
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 intention
to the offer the securities and the expected uses of the proceeds from
the proposed 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.