Crexendo Inc. (CXDO) Announces Proposed 3.5M Share Common Offering

Crexendo, Inc. (NASDAQ: CXDO), an award-winning premier provider of cloud communications, UCaas (Unified Communications as a Service), call center, collaboration services and other cloud based services, today announced it has launched a registered underwritten public offering of 3,500,000 shares of its common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission ("SEC"). The offering is expected to include 1,750,000 shares to be issued and sold by Crexendo and 1,750,000 shares to be sold by certain stockholders. In addition, Crexendo intends to grant the underwriters a 30-day option to purchase up to 525,000 additional shares of common stock from the Company.

The Company plans to use the net proceeds from this offering for general corporate purposes, including working capital, sales and marketing activities, product development, general and administrative matters, and capital expenditures. The Company will not receive any net proceeds from the sale of common stock by the selling stockholders.

B. Riley Securities, Inc. and Colliers Securities LLC are acting as joint book-running managers for the offering.

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