AUSTIN, Texas, June 27, 2012 (GLOBE NEWSWIRE) -- Bazaarvoice, Inc. (Nasdaq:BV) announced today that it has filed a registration statement with the U.S. Securities and Exchange Commission relating to a proposed follow-on offering of shares of its common stock. Bazaarvoice is proposing to sell up to 1.7 million of its shares. An additional 6.8 million shares will be sold by Bazaarvoice stockholders. The underwriters have a 30-day option to purchase up to an additional 1,275,000 shares of common stock from Bazaarvoice.
The principal purposes of the offering are to facilitate an orderly distribution of shares by the selling stockholders and to increase the public float of the company. The proceeds of the primary portion of the offering will be used for general corporate purposes, including working capital. Bazaarvoice will not receive any proceeds from shares of common stock to be sold by the selling stockholders. As part of the underwriting procedures, all selling stockholders, as well as all officers and directors, have agreed to lock-up agreements for a period of 90 days following the offering.
Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and Credit Suisse Securities (USA) LLC will serve as joint book runners for the proposed offering. BMO Capital Markets Corp., Pacific Crest Securities LLC and Piper Jaffray & Co. will act as co-managers. This offering will be made only by means of a prospectus. A copy of the preliminary prospectus for the offering, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by email at prospectus@morganstanley.com, or by phone at (866) 718-1649; or Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, New York 10005-2836, by e-mail at prospectus.cpdg@db.com, or by phone at (800) 503-4611; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, by phone at (800) 221-1037, or by e-mail at newyork.prospectus@credit-suisse.com.
A registration statement related to these securities has been filed with the U.S. Securities and Exchange Commission 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 state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.