TUCSON, Ariz., Aug. 27, 2020 /PRNewswire/ -- AudioEye, Inc.
(NASDAQ: AEYE) ("AudioEye" or the "Company"), an industry-leading
software solution provider delivering website accessibility
compliance to businesses of all sizes, today announced the
pricing of an underwritten public offering of 411,513 shares
of its common stock, at a purchase price to the public of
$17.75 per share. In addition, in
connection with the offering, AudioEye has granted the underwriter
a 30-day option to purchase up to an additional 61,726 shares
of common stock solely at the public offering price. The gross
proceeds to AudioEye from this offering are expected to be
approximately $7.3 million,
before deducting underwriting discounts and commissions and
estimated offering expenses payable by AudioEye, but excluding any
exercise of the underwriter's option to purchase additional shares
of common stock. The offering is expected to close on or about
August 31, 2020, subject to customary closing conditions.
All of the securities in the offering are being sold by
AudioEye. AudioEye expects to use the net proceeds of this offering
for working capital and general corporate purposes.
B. Riley FBR is acting as the sole bookrunner for the
offering.
A shelf registration statement on Form S-3 relating to the
public offering of the shares of common stock described above was
filed with the Securities and Exchange Commission (the "SEC") on
April 1, 2020 and declared effective
by the SEC on April 15, 2020. A
registration statement on Form S-3 also relating to the public
offering of the shares of common stock described above was filed
with the SEC on August 27, 2020
pursuant to Rule 462(b) and is effective upon filing. A
preliminary prospectus supplement and accompanying prospectus
relating to and describing the terms of the offering were filed
with the SEC on August 26, 2020. A
final prospectus supplement and accompanying prospectus relating to
and describing the terms of the offering will be filed with the SEC
and made available on the SEC's web site at www.sec.gov. Copies of
the final prospectus supplement and accompanying prospectus
relating to the offering may also be obtained, when available, by
contacting B. Riley FBR, 11100 Santa Monica Boulevard, Suite
800, Los Angeles, CA 90025, by
e-mail at prospectuses@brileyfbr.com.
Before investing, interested parties should read the preliminary
prospectus supplement and the accompanying base prospectus in the
registration statement and other documents the Company has filed or
will file with the SEC for more complete information about the
Company and the offering. This press release does not constitute an
offer to sell or the solicitation of an offer to buy the common
stock, nor will there be any sale of the common stock in any state
or other jurisdiction in which such offer, solicitation or sale is
not permitted.
About AudioEye, Inc.
AudioEye is a technology
company serving businesses committed to providing equal access to
their digital content. Through patented technology, subject matter
expertise and proprietary processes, AudioEye is transforming how
the world experiences digital content. Leading with technology,
AudioEye identifies and resolves issues of accessibility and
enhances the user experience, making digital content more
accessible and more usable for more people.
AudioEye's common stock trades on the Nasdaq Capital Market
under the symbol "AEYE." The Company maintains offices in
Tucson, Scottsdale, Atlanta,
New York and Portland.
Cautionary Note Regarding 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. Forward-looking statements reflect the Company's
expectations and projections about its future results, performance,
prospects and opportunities. These statements can be identified by
the fact that they do not relate strictly to historical or current
facts. The Company has tried to identify forward-looking statements
by using words such as "anticipate," "believe," "could,"
"estimate," "expect," "intend," "may," "plan," "project,"
"potential," "should," "will," "will be," "would" and similar
expressions, but this is not an exclusive way of identifying such
statements. Readers are cautioned that forward-looking statements
are not guarantees of future performance. The Company's actual
results, performance and achievements may differ materially from
those expressed in, or implied by, the forward-looking statements
contained herein as a result of various risks, uncertainties and
other factors. Important factors that could cause the Company's
actual results to differ materially from its expectations
include, the variability of the Company's revenues and
financial performance; risks associated with product development
and technological changes; the impact of COVID-19; the acceptance
of the Company's products in the marketplace by existing and
potential future customers; competition; general economic
conditions; and other factors described under "Risk Factors" in the
Company's most recent Annual Report on Form 10-K and in other
filings the Company makes with the SEC from time to time.
Forward-looking statements speak only as of the date hereof. Except
as expressly required under federal securities laws and the rules
and regulations of the SEC, the Company does not undertake any
obligation to update any forward-looking statements to reflect
events or circumstances arising after the date hereof, whether as a
result of new information or future events or otherwise. You should
not place undue reliance on the forward-looking statements included
herein or that may be made elsewhere from time to time by the
Company, or on the Company's behalf. All forward-looking statements
attributable to the Company are expressly qualified by these
cautionary statements.
Investor Contact:
Matt
Glover or Tom Colton
AEYE@gatewayir.com
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SOURCE AudioEye, Inc.