BLIN Stock Price Increases Over 40% Pre-Market: Details – Pulse 2.0

  • The stock price of Bridgeline Digital Inc (NASDAQ: BLIN) increased by over 40% pre-market. These are the details.

The stock price of Bridgeline Digital Inc (NASDAQ: BLIN) – a provider of cloud-based marketing technology software – increased by over 40% pre-market. This is a continuation of momentum as the company stock price increased 56% on Friday July 2, going from a previous close of $5.75 to $8.97.

Investors have been responding positively to the company announcing on July 2nd morning that it has received over $2.5 million in cash as a result of warrant exercises so far last week. The warrants were issued in 2019 with a strike price of $4.

These funds are above and beyond Bridgeline’s fully capitalized operating plan, bringing its cash balance to approximately $6 million. And this additional capital will be used to accelerate growth and execute Bridgeline’s eCommerce 360 strategy to drive traffic, increase conversions and grow average order value for its 2,500 customers.

Bridgeline acquired two companies in 2021: WooRank and HawkSearch. WooRank drives traffic to websites by helping improve search engine optimization (SEO). And HawkSearch grows online revenues for eCommerce websites by increasing conversion and optimizing the search experience for visitors.

KEY QUOTE:

“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. We thank our investors for their ongoing support.”

— Ari Kahn, President and CEO of Bridgeline Digital

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.