LIVINGSTON, NJ -- (Marketwired) -- 03/10/15 -- SilverSun Technologies, Inc. (the "Company" or "SilverSun") (OTCBB: SSNT) (OTCQB: SSNT) announced today that it has closed a public offering of its common stock and warrants to purchase common stock. There will be additional closings of this public offering. The Company offered 285,001 shares of its common stock at $4.24 per share and 142,501 warrants to purchase shares of its common stock at $0.01 per warrant to the public. SilverSun received gross proceeds from this first closing of the public offering, before deducting placement agency commissions and estimated offering expenses payable by SilverSun, of approximately $1,208,000.
Alexander Capital LP, the Company's Placement Agent, is acting as the sole book-running manager of the Offering and The Benchmark Company is acting as sub-agent.
The Company intends to use the net proceeds from the offering for general corporate purposes, including working capital, sales and marketing activities, product development, general and administrative matters and capital expenditures.
The offering is being made pursuant to a registration statement on Form S-1 that SilverSun has filed with the Securities and Exchange Commission ("SEC") and which is effective. A final prospectus supplement containing important information relating to these securities was filed with the SEC. Copies of the final prospectus relating to these securities may be obtained by contacting Alexander Capital, L.P., 17 State Street, 5th Floor, New York, NY, 10004, telephone: (212) 687-5649 or email: email@example.com. Electronic copies of the prospectus will also be available on the website of the SEC at http://www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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. Copies of the prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Alexander Capital, 17 State Street, New York, NY 10004, (855) 288-2539.
About SilverSun Technologies, Inc.
SilverSun Technologies is involved in the acquisition and build-out of technology and software companies. The Company's growth strategy is to acquire firms in the extensive and expanding, but highly fragmented, business solutions marketplace, as it seeks to create substantial value for shareholders. Since June 2004, SilverSun has acquired SWK Technologies, Inc., Business Tech Solutions Group, Inc., Wolen Katz Associates, AMP-BEST Consulting, Inc., Hightower, Inc., and ESC Software, Inc. Through its subsidiaries, the Company offers an array of ERP, EDI, WMS, BI and business management products, including its own proprietary software, as well as a wide range of value-added services.
For additional information, visit SilverSun's corporate website: www.silversuntech.com
Forward Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to SilverSun Technologies, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
Source: SilverSun Technologies, Inc.