Bridgeline Digital Inc (NASDAQ: BLIN) has received cash amounting to more than $2.5 million from a warrant exercise initiated by the company. According to reports, the company issued the warrants in 2019 for a strike price of $4.00.
The company received more funds than it expected to get
A source familiar with the developments stated that Bridgeline Digital Inc received more than the predicted and expected amount. The cash balance of the company stands at roughly $6 million. The company plans to put to use the additional capital to accelerate its growth.
Bridgeline Digital Inc will execute its eCommerce 360 strategy to drive traffic, step up conversions and boost average order value for its 2,500 customers.
CEO of the company reacts to the news
“This warrant exercise demonstrates our investor’s confidence in our recent acquisitions and that our eCommerce 360 strategy will drive faster growth and profitability for Bridgeline,” said Ari Kahn, President and CEO of Bridgeline Digital Inc. “We thank our investors for their ongoing support.”
The company acquires two companies this year
Bridgeline Digital, Inc. is on an acquisition spree this year. The company has acquired two companies in 2021. One of them being WooRank, and the second company is HawkSearch. The former helps to drive traffic to websites by enhancing search engine optimization. The latter company boosts online revenues for eCommerce websites by increasing conversion. HawkSearch also optimizes the search experience for visitors.
First Bancorp (NYSE: FBP) declares a monthly cash dividend
First Bancorp (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, in a statement, announced that the board of directors had declared the monthly cash dividends on its outstanding shares of Series A through E Noncumulative Perpetual Monthly Income Preferred Stock.
The parent corporation of FirstBank Puerto Rico, First Bancorp is a state-chartered commercial bank that has a footprint in Puerto Rico and the U.S.