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 hereof.
Investor Relations: Autobytel Inc. Curtis E. DeWalt SVP, Chief Financial Officer 949-437-4694 PondelWilkinson Inc. Roger Pondel/Laurie Berman 310-279-5980
