8-K 1 blin20200816_8k.htm FORM 8-K blin20200816_8k.htm




Washington, D.C. 20549







Date of Report (Date of earliest event reported): August 17, 2020



(Exact name of registrant as specified in its charter)






(State or Other Jurisdiction of







(Commission File Number)


(IRS Employer Identification No.)


100 Sylvan Road, Suite G-700

Woburn, Massachusetts



(Address of Principal Executive Offices)


(Zip Code)



(781) 376-5555



(Registrant’s Telephone Number,

Including Area Code)








(Former Name or Former Address, if Changed Since Last Report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))


Securities registered pursuant to Section 12(b) of the Act:


Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.001 per share


Nasdaq Capital Market


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2)


Emerging Growth Company ☐


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐





Item 1.01.   Entry into a Material Definitive Agreement


On August 17, 2020, Bridgeline Digital, Inc., a Delaware corporation (the “Company”) entered into an At The Market Offering Agreement (the “Sales Agreement”) with Roth Capital Partners, LLC (the “Agent”), pursuant to which the Company may offer and sell from time to time up to an aggregate of $4,796,090 in shares of the Company’s common stock, par value $0.001 (the “Placement Shares”), through the Agent.


The Placement Shares have been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to the Registration Statement on Form S-3 (File No. 333-239104) (the “Registration Statement”), which was declared effective by the Securities and Exchange Commission (“SEC”) on June 25, 2020, the base prospectus contained within the Registration Statement, and a prospectus supplement that was filed with the SEC on August 17, 2020. 


Sales of the Placement Shares, if any, pursuant to the Sales Agreement, may be made in sales deemed to be “at the market offerings” as defined in Rule 415 promulgated under the Securities Act. The Agent will act as sales agent and will use commercially reasonable efforts to sell on the Company’s behalf all of the Placement Shares requested to be sold by the Company, consistent with its normal trading and sales practices, on mutually agreed terms between the Agent and the Company. 


The Company has no obligation to sell any of the Placement Shares under the Sales Agreement. The Sales Agreement terminates, by its terms, one year from the date of execution, or August 17, 2021, but may be earlier terminated by the Company upon five (5) business days’ notice to the Agent and at any time by the Agent or by the mutual agreement of the parties. In addition, the Sales Agreement contains customary representations, warranties and agreements by the Company, as well as indemnification obligations of the Company for certain liabilities under the Securities Act.


Under the terms of the Sales Agreement, the Company will pay the Agent a commission equal to 2.5% of the gross proceeds from the gross sales price of the Placement Shares. In addition, the Company has agreed to pay certain expenses incurred by the Agent in connection with the transactions conducted pursuant to the Sales Agreement.


The Company intends to use the net proceeds from this offering for general corporate purposes, including working capital.


This Current Report on Form 8-K shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.


The description of the material terms of the Sales Agreement is not intended to be complete and is qualified in its entirety by reference to the Sales Agreement, which is filed as Exhibit 1.1 to this Current Report on Form 8-K and incorporated herein by reference.


Item 2.02.   Results of Operations and Financial Condition 


On August 13, 2020, the Company issued a press release announcing its financial results for the third fiscal quarter ended June 30, 2020. The press release is furnished as Exhibit 99.1 hereto.


In accordance with General Instruction B.2 of Form 8-K, the information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.


Item 9.01 Financial Statements and Exhibits


See Exhibit Index.


Exhibit Index


Exhibit Number




Sales Agency Agreement by and between Bridgeline Digital, Inc. and Roth Capital Partners, LLC, dated August 17, 2020


Opinion of Disclosure Law Group, a Professional Corporation


Consent of Disclosure Law Group, a Professional Corporation (included in Exhibit 5.1)


Press Release issued by Bridgeline Digital, Inc., dated August 13, 2020






Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



















/s/ Roger “Ari” Kahn




Roger “Ari” Kahn




Chief Executive Officer


Date: August 17, 2020