SALT LAKE CITY (October 27, 2011) -- inContact, Inc. (NASDAQ: SAAS), the leading provider of on-demand contact center software and contact center agent optimization tools, today announced the filing of registration statements for approximately 7.2 million shares of common stock held by Enterprise Network Holdings, Inc. ("ENH") and a $40 million shelf offering. ENH is an affiliate of Siemens Enterprise Communications.
Said Paul Jarman, inContact CEO, "We are registering the ENH shares, an affiliate of Siemens Enterprise Communications, in accordance with the terms of their recent $24 million investment and putting up a shelf. The shelf registration statement is intended to give the company future flexibility to provide funding for growth or other strategic initiatives. With the recent $24 million investment and an additional $8.5 million available under our line of credit, we have no current need for a capital raise."
The registration statements have been filed on Form S-3 with the United States Securities and Exchange Commission (the "SEC"). Under the shelf registration statement, once declared effective by the SEC, inContact may offer, issue and sell from time to time in the future, in one or more placements, up to $40 million of common or preferred shares, warrants or units, or any combination thereof. The specifics of any future placement, along with the prices and terms of any such securities offered by inContact, will be determined at the time of any such placement, and will be described in detail in a prospectus supplement filed at the time of any such placement.
inContact's shelf registration statement has been filed with the SEC but has not yet become effective, and until the registration statement is declared effective by the SEC, the securities registered may not be sold, nor may offers to buy be accepted. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Any offering of the securities covered by the registration statement will only be by means of a prospectus and an accompanying prospectus supplement.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on inContact's current expectations, estimates and projections about inContact's industry, management's beliefs and certain assumptions made by management, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words and include, but are not limited to, statements regarding projected results of operations and management's future strategic plans. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.
The risks and uncertainties referred to above include, but are not limited to, risks associated with inContact's business model; our ability to develop or acquire, and gain market acceptance for new products, including our new sales and marketing and voice automation products, in a cost-effective and timely manner; the gain or loss of key customers; competitive pressures; its ability to expand operations; fluctuations in its earnings as a result of the impact of stock-based compensation expense; interruptions or delays in our hosting operations; breaches of our security measures; its ability to protect our intellectual property from infringement, and to avoid infringing on the intellectual property rights of third parties; and its ability to expand, retain and motivate our employees and manage its growth. Further information on potential factors that could affect our financial results is included in inContact's Annual Report on Form 10-K, quarterly reports of Form 10-Q, and in other filings with the Securities and Exchange Commission. The forward-looking statements in this release speak only as of the date they are made. inContact undertakes no obligation to revise or update publicly any forward-looking statement for any reason.
inContact (NASDAQ:SAAS) helps contact centers around the globe create profitable customer experiences through its powerful portfolio of cloud-based contact center software solutions. The company's services and solutions enable contact centers to operate more efficiently, optimize the cost and quality of every customer interaction, create new pathways to profit and ensure ongoing customer-centric business improvement and growth. To learn more, visit www.inContact.com.
inContact® is the registered trademark of inContact, Inc.