BLIN - Bridgeline Digital to raise $5.1M through two offerings

Bridgeline Digital ([[BLIN]] +10.5%) launched a registered direct offering of 1.06M shares priced at-the-market at $2.28/share for gross proceeds of ~$2.4M.It has also entered into securities purchase agreements with certain institutional investors in connection with a private placement of 2.7K shares of its Series D Convertible Preferred Stock at $1K/share and warrants to purchase up to an aggregate of 592,105 shares at $2.51/share.Bridgeline expects to receive gross proceeds of ~$2.7M from private placement.The Series D Preferred Stock is convertible into ~1.18M shares at $2.28/share.Net proceeds to be used for general corporate purposes.Offer closing expected on or about May 14.Premarket shares traded 7.5% higher.

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Bridgeline Digital to raise $5.1M through two offerings