Upland Software (UPLD) Prices 3.5M Share Common Offering at $34/Sh

Upland Software, Inc. (NASDAQ: UPLD) today announced the pricing of an underwritten public offering of 3,500,000 shares of common stock at a price to the public of $34.00 per share. The aggregate offering size, before deducting the underwriting discounts and commissions and other offering expenses, is expected to be $119,000,000. The offering is expected to close on or about August 14, 2020, subject to customary closing conditions. The underwriters for the offering will also have a 30-day option to purchase up to an additional 525,000 shares of common stock at the public offering price, less the underwriting discounts and commissions.

Upland intends to use the net proceeds of the offering to continue its acquisition strategy and for general corporate purposes.

Credit Suisse is acting as lead book-running manager for the offering. Jefferies, Canaccord Genuity and Needham & Company are acting as book-running managers. Craig-Hallum Capital Group, Raymond James, Roth Capital Partners, and William Blair are acting as co-managers for the offering.

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