RIVER FALLS, WI / ACCESSWIRE / September 4, 2014 / Sajan, Inc. (currently NASDAQ: SAJA, formerly OTCQB: SAJA), a leading provider of global language services and translation management system technology, today announced the pricing of a follow-on offering of 700,000 shares of its common stock at a price to the public of $5.00 per share. The offering will generate gross proceeds of approximately $3,500,000, before deducting the underwriting discount and estimated offering expenses.
In connection with this offering, Sajan received approval to list its common stock on the NASDAQ Capital Market under the ticker symbol "SAJA."
Sajan intends to use the net proceeds from the offering for working capital and general corporate purposes, which may include investing in software development, supporting ongoing sales and marketing activities and supporting growth through future strategic acquisitions of businesses, technologies and products. This offering is expected to close on September 9, subject to customary closing conditions.
All of the shares of common stock in this offering are to be sold by Sajan. Sajan has also granted the underwriter a 45-day option to purchase up to an aggregate of 105,000 additional shares of Sajan's common stock at the public offering price, less the underwriting discount, to cover over-allotments, if any.
Dougherty & Company is acting as the sole underwriter in the offering.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission (SEC). The registration statement may be accessed through the SEC's website. A final prospectus related to the offering will be filed with the SEC and will be available on the SEC's website, located at www.sec.gov. Copies of the final prospectus may also be obtained, when available, by contacting Dougherty & Company, 90 South Seventh Street, Suite 4300, Minneapolis, Minnesota 55402, Attention Syndicate, by telephone to 1-800-328-4000 or by email to [email protected].
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Sajan
Sajan is a leading provider of global language translation and localization services, helping clients around the world expand seamlessly into any global market. The foundation of Sajan's solution is its industry-leading language translation management system technology, Sajan Transplicity, which provides process automation and innovative multilingual content reuse to ensure schedule predictability, higher quality and cost efficiencies for its clients. By working closely with its clients, Sajan's experienced teams of localization professionals develop tailored solutions that lend flexibility to any large or small business that truly desires to "think globally but act locally." Based in the United States, Sajan also has offices in Ireland, Spain and Singapore. Visit Sajan online at www.sajan.com.
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for certain forward-looking statements. The Company's Annual Report on Form 10-K, its Quarterly Report on Form 10-Q and other filings with the Securities and Exchange Commission, the Company's press releases and oral statements made with the approval of an authorized executive officer, contain forward-looking statements that reflect the Company's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. The words "aim," "believe," "expect," "anticipate," "intend," "estimate" and other expressions that indicate future events and trends identify forward-looking statements. Actual future results and trends may differ materially from historical results or those anticipated depending on a variety of factors, including but not limited to those set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission on March 21, 2014, under the heading "Item 1A. Risk Factors" and its other filings with the Securities and Exchange Commission. The Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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Contact:
Courtney Huber
Email: [email protected]
Phone: 715-426-9505
SOUREC: Sajan, Inc.