Exhibit 99.1
RADIANT SYSTEMS, INC. ANNOUNCES PRICINGOF PUBLIC OFFERINGOF 4,693,848 SHARESOF COMMON STOCK
ATLANTA—(BUSINESS WIRE)—September 10, 2010—Radiant Systems, Inc. (Nasdaq: RADS), today announced that it has priced an underwritten public offering of 4,693,848 shares of common stock, consisting of 3,500,000 shares to be sold by the Company and 1,193,848 shares to be sold by certain selling shareholders, at a price to the public of $17.00 per share. The net proceeds to the Company, after underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $56.4 million. The Company will not receive any proceeds from the sale of the shares by the selling shareholders. The offering is expected to close on or about September 15, 2010, subject to satisfaction of various customary closing conditions.
Jefferies & Company, Inc. and SunTrust Robinson Humphrey, Inc. are acting as joint book-running managers in the offering, Raymond James & Associates, Inc. is acting as co-lead manager, and Needham & Company, LLC, Northland Securities, Inc. and Wedbush Securities Inc. are acting as co-managers, for the offering. Radiant also announced it and certain of the selling shareholders have granted the underwriters an option to purchase up to 704,077 shares of Radiant’s common stock solely to cover over-allotments, if any, consisting of 2,062 shares by Radiant and 702,015 shares by certain of the selling shareholders.
Radiant intends to use the net proceeds of the offering to pay down the outstanding balance under the revolving portion of its credit facility, to fund working capital requirements and for general corporate purposes, including potential acquisitions.
The securities described above are being offered by Radiant pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission (the “SEC”) which was declared effective by the SEC on November 4, 2009. A preliminary prospectus supplement related to the offering was filed with the SEC on September 7, 2010 and is available on the SEC’s web site at http://www.sec.gov. Copies of the final prospectus supplement relating to these securities, when available, may be obtained from Jefferies & Company, Inc., Attention: Syndicate Prospectus Department, 520 Madison Avenue, New York, NY, 10022 and at (888) 449-2342, or SunTrust Robinson Humphrey, Inc., Attention: Prospectus Department, 3333 Peachtree Road, NE, Atlanta, Georgia 30326 and at (404) 926-5744 or prospectus@rhco.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sales of the 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 law of any such state or jurisdiction.
About Radiant Systems, Inc.
Headquartered in Atlanta, Radiant Systems, Inc. (Nasdaq: RADS) is a global provider of innovative technology to the hospitality and retail industries. With more than 100,000 installations worldwide, our customers include leading brands and venues in the restaurant and food service, sports and entertainment, petroleum and convenience, and specialty retail markets. Radiant has offices in North America, Europe, Asia and Australia.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to expectations regarding the completion, timing and size of its proposed public offering, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed offering, as well as risks and uncertainties associated with Radiant’s business and finances in general and other factors discussed in detail in Radiant’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
CONTACT:
Radiant Systems, Inc.
Karen Leytze, 770-576-6811
Karen.leytze@radiantsystems.com