Kintera Announces Proposed Private Common Stock Financing of $13.5 Million
22 November 2005 - 1:31AM
Business Wire
Kintera(R), Inc. (NASDAQ:KNTA), the leading provider of software as
a service to the nonprofit industry, today announced a private
placement in which it has received indications of plans to purchase
4.5 million shares of its common stock at a price of $3.00 per
share, for anticipated aggregate proceeds of approximately $13.5
million. In connection therewith, the company also plans to issue
warrants to purchase up to 1.8 million shares of its common stock
at an exercise price of $3.50 per share, which warrants are
callable if the trading price of the company's common stock exceeds
$7.00 per share for a specified period of time. The closing is
expected to be as soon as practicable. The proceeds will be used
for general corporate purposes, including working capital. The
shares and warrants will not be registered under the Securities
Act, or any state securities laws, and will be sold and issued in a
private transaction under Regulation D. Unless the shares and
warrants are registered, they may not be offered or sold in the
United States except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state laws.
Kintera is obligated to register the shares, including the shares
issuable upon exercise of the warrants, for resale on a
registration statement to be filed within 30 days of the closing of
the transaction. About Kintera, Inc. Kintera(R), Inc. (NASDAQ:KNTA)
provides an online solution to help nonprofit organizations deliver
The Giving Experience(TM) to donors - including giving convenience,
financial transparency, feedback about the social impact of their
gifts, and a sense of belonging and appreciation. Forward-Looking
Statements This press release contains forward-looking statements
(including, without limitation, express or implied statements
regarding the consummation of our private common stock financing)
that involve risks and uncertainties. These forward-looking
statements represent our estimates and assumptions only as of the
date hereof. These statements reflect our current views with
respect to future events and are based on assumptions and subject
to risks and uncertainties. These statements involve known and
unknown risks, uncertainties and other factors which may cause our
actual results, performance or achievements to be materially
different from any future results, performances or achievements
expressed or implied by the forward-looking statements. These risks
and uncertainties include, without limitation, the satisfaction of
the closing conditions and our dependence on the investors'
commitments to fulfill their obligations in connection with our
private common stock financing. Given these uncertainties, you
should not place undue reliance on these forward-looking
statements.
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