Contact Information: Contact: eLoyalty Corporation Chris Min Vice President and Chief Financial Officer (847) 582-7222
eLoyalty Corporation Announces Proposed Rights Offering
| Source: eLoyalty Corporation
LAKE FOREST, IL--(Marketwire - August 7, 2008) - eLoyalty Corporation (NASDAQ : ELOY ), a
leading enterprise customer relationship management (CRM) services and
solutions company, today announced that it has filed an S-3 Registration
Statement with the SEC for a proposed rights offering relating to
non-transferable subscription rights to purchase up to $15 million of
eLoyalty Common Stock. Holders of eLoyalty's Common Stock and Series B
Preferred Stock on the record date for the rights offering would be
eligible to participate. The subscription price will be at $5.67 per share
(the average closing price of eLoyalty common stock on the Nasdaq Global
Market over the ten trading day period ended August 4, 2008). The record
date has not been set. eLoyalty plans to use the proceeds from the rights
offering for working capital and general corporate purposes.
A registration statement relating to these securities has been filed with
the Securities and Exchange Commission but has not yet become effective.
Persons eligible to participate in the rights offering will receive a
prospectus and subscription materials, when available, in the mail. These
securities may not be sold nor may offers to buy be accepted prior to the
time the registration statement becomes effective. The rights offering
will only be made by means of a prospectus. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy these
securities, nor shall there be any sale of these securities in any state in
which such offer, solicitation, or sale would be unlawful prior to
registration or qualifications under the securities laws of any such state.
About eLoyalty
eLoyalty helps its customers achieve breakthrough results with
revolutionary analytics and advanced technologies that drive continuous
business improvement. With a long track record of delivering proven
solutions for many of the Fortune 1000, eLoyalty's offerings include the
Behavioral Analytics Service, Integrated Contact Solutions and Consulting
Services, each of which enables focused business transformation.