Creative Realities, Inc. ("Creative Realities," "CRI," or the
"Company") (NASDAQ: CREX, CREXW), a leading provider of digital
signage solutions, today announced the pricing of its previously
announced “reasonable best efforts” public offering of 3,000,000
shares of common stock at a purchase price of $2.00 per share for
aggregate gross proceeds of approximately $6 million, before
deducting placement agent fees and other offering expenses.
The closing of the offering is expected to occur
on or about August 21, 2023, subject to the satisfaction of
customary closing conditions. The Company intends to use the net
proceeds from this offering for general corporate purposes, which
may include repayment of principal on the Company’s indebtedness,
capital expenditures, and funding our working capital needs.
A.G.P./Alliance Global Partners is acting as the
sole placement agent for the offering.
This offering is being made pursuant to an
effective shelf registration statement on Form S-3 (File No.
333-272202) previously filed with the U.S. Securities and Exchange
Commission (the “SEC”), which was declared effective by the SEC on
June 6, 2023. The preliminary prospectus supplement and
accompanying base prospectus were previously filed with the SEC,
and the final prospectus supplement and accompanying prospectus
will be filed with the SEC and will be available on the SEC’s
website located at http://www.sec.gov. Electronic copies of the
prospectus supplement may be obtained, when available, from
A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor,
New York, NY 10022, or by telephone at (212) 624-2060, or by email
at prospectus@allianceg.com.
This press release shall not constitute an offer
to sell or the 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 Creative Realities,
Inc.
Creative Realities helps clients use place-based
digital media to achieve business objectives such as increased
revenue, enhanced customer experiences, and improved productivity.
The Company designs, develops and deploys digital signage
experiences for enterprise-level networks, and is actively
providing recurring SaaS and support services across diverse
vertical markets, including but not limited to retail, automotive,
digital-out-of-home (DOOH) advertising networks, convenience
stores, foodservice/QSR, gaming, theater, and stadium venues.
With its recent acquisition of Reflect Systems,
Inc. (“Reflect”), a leading provider of digital signage software
platforms, the Company is poised to extend its product and service
offering and accelerate growth in SaaS revenue. While Reflect
provided a broad range of digital signage solutions, Reflect’s
flagship products are the market-leading ReflectView digital
signage platform and Reflect AdLogic ad management platform.
ReflectView is the industry’s most comprehensive, scalable,
enterprise-grade digital signage platform, powering enterprise
customer networks. Meanwhile, Reflect AdLogic has become the
benchmark for digital signage powered ad networks, delivering
nearly 50 million ads daily. The acquisition of Reflect also
brought to the Company a media sales division with the expertise
and relationships to help any digital signage venue owner develop
and execute a monetization plan for their network.
Cautionary Note on Forward-Looking
Statements
This press release contains "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, Section 21E of the Securities Exchange Act of
1934, as amended, and the Private Securities Litigation Reform Act
of 1995, and includes, among other things, discussions of our
business strategies, product releases, future operations and
capital resources. Words such as "estimates," "projected,"
"expects," "anticipates," "forecasts," "plans," "intends,"
"believes," "seeks," "may," "will," "should," "future," "propose"
and variations of these words or similar expressions (or the
negative versions of such words or expressions) are intended to
identify forward-looking statements. These forward-looking
statements include, among other things, statements regarding the
completion of the proposed offering and the anticipated use of
proceeds from the offering. Forward-looking statements are not
guarantees of future performance, conditions or results. They are
based on the opinions, estimates and beliefs of management as of
the date such statements are made, and they are subject to known
and unknown risks, uncertainties, assumptions and other factors,
many of which are outside of our control, that may cause the actual
results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking statements. Some of these risks include
uncertainties related to completion of the public offering on the
anticipated terms or at all, market conditions and the satisfaction
of customary closing conditions related to the public offering and
other risks that are discussed in the “Risk Factors” section
contained in Item 1A of our Annual Report on Form 10-K for the year
ended December 31, 2022 and in our Quarterly Report on Form 10-Q
for the period ended June 30, 2023, and the Company’s subsequent
filings with the SEC. Important factors, among others, that may
affect actual results or outcomes include: our ability to
effectively integrate Reflect’s business operations, our strategy
for customer retention, growth, product development, market
position, financial results and reserves, our ability to execute on
our business plan, our ability to retain key personnel, our ability
to remain listed on the Nasdaq Capital Market, our ability to
realize the revenues included in our future guidance and backlog
reports, our ability to satisfy our upcoming debt obligations and
other liabilities, the ability of the Company to continue as a
going concern, potential litigation, supply chain shortages, and
general economic and market conditions impacting demand for our
products and services, including those as a result of the COVID-19
pandemic. Readers should not place undue reliance upon any
forward-looking statements. We assume no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
ContactsChristina
Daviescdavies@ideagrove.comir@cri.comhttps://investors.cri.com
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