Bridgeline Digital Inc (NASDAQ: BLIN) received in excess of $ 2.5 million in cash as a result of an exercise of warrants initiated by the Company. According to reports, the company issued the warrants in 2019 for an exercise price of $ 4.00.
The company received more funds than expected
A source familiar with the developments said Bridgeline Digital Inc has received more than what was expected and expected. The company’s cash balance is approximately $ 6 million. The company plans to use the additional capital to accelerate its growth.
Bridgeline Digital Inc will execute its eCommerce 360 strategy to drive traffic, increase conversions and increase average order value for its 2,500 customers.
The CEO of the company reacts to the news
“This tenure demonstrates our investors’ confidence in our recent acquisitions and that our eCommerce 360 strategy will accelerate Bridgeline’s growth and profitability,” said Ari Kahn, President and CEO of Bridgeline Digital Inc. “ We thank our investors for their continued support. “
The company acquires two companies this year
Bridgeline Digital, Inc. is on a wave of acquisitions this year. The company acquired two companies in 2021. One of them is WooRank and the second is HawkSearch. The former helps drive traffic to websites by improving search engine optimization. The latter company increases the online income of ecommerce websites by increasing the conversion. HawkSearch also optimizes the search experience for visitors.
First Bancorp (NYSE: FBP) declares monthly cash dividend
First Bancorp (NYSE: FBP), FirstBank Puerto Rico’s banking holding company, in a statement, said the board of directors has declared monthly cash dividends on its outstanding Series A shares to E non-cumulative monthly perpetual income preferred shares.
The parent company of FirstBank Puerto Rico, First Bancorp is a state-chartered commercial bank with operations in Puerto Rico and the United States.