Autobytel Files Form S-3 Shelf Registration Statement
IRVINE, Calf., Feb. 27, 2014 (GLOBE NEWSWIRE) -- Autobytel Inc. (Nasdaq:ABTL),
announced today that it has filed a shelf registration statement on Form S-3
with the Securities and Exchange Commission ("SEC"). When declared effective
by the SEC, the registration statement will allow Autobytel to issue various
types of securities, including common stock, preferred stock, debt securities
and warrants, from time to time up to an aggregate amount of $75 million.
"Although we do not have immediate plans for raising and using additional
capital, we anticipate that a shelf registration will provide more efficient
access to the capital markets and allow Autobytel to act opportunistically in
support of our growth objectives," said Jeff Coats, President and Chief
Executive Officer of Autobytel. "Filing a shelf registration is a prudent step
to provide additional financial flexibility for Autobytel."
After the shelf registration statement becomes effective, Autobytel may offer
and sell such securities through one or more methods of distribution, subject
to market conditions and Autobytel's capital needs. The terms of any offering
under the shelf registration statement will be established at the time of such
offering and will be described in a prospectus supplement filed with the SEC
prior to completion of the offering.
A registration statement relating to these securities has been filed with the
SEC but has not yet become effective. These securities may not be sold nor may
offers to buy be accepted prior to the time the registration statement becomes
effective. This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of these
securities in any jurisdiction in which an offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws
of such jurisdiction. Any offering of the securities covered under the shelf
registration statement will be made solely by means of a prospectus and an
accompanying prospectus supplement relating to that offer.
About Autobytel Inc.
Autobytel Inc. provides high quality consumer leads and associated marketing
services to automotive dealers and manufacturers throughout the United States
and offers consumers robust and original online automotive content to help
them make informed car-buying decisions. The company pioneered the automotive
internet in 1995 with its flagship website www.autobytel.com and has since
helped tens of millions of automotive consumers research vehicles; connected
thousands of dealers nationwide with motivated car buyers; and helped every
major automaker market its brand online.
Forward-Looking Statements Disclaimer
This release contains forward-looking statements within the meaning of the
"safe harbor" provisions of the federal securities laws, including, without
limitation, statements regarding the impact of the filing of a Form S-3 shelf
registration statement on the Company's financial flexibility and access to
capital markets. The forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially from those
projected; including those risk factors set forth in the Company's Annual
Report on Form 10-K for the year ended December 31, 2013. The forward-looking
statements included in this release are made as of today's date, and except as
otherwise required by law, Autobytel does not intend to update these
forward-looking statements to reflect events or circumstances after the date
CONTACT: Investor Relations:
Curtis E. DeWalt
SVP, Chief Financial Officer
Roger Pondel/Laurie Berman
Autobytel Inc. logo
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