Asure Software Enters into Sales Agreement with Roth Capital Partners, LLC

On October 31, 2024, Asure Software Inc., a Delaware corporation, announced that it has entered into a Sales Agreement with Roth Capital Partners, LLC. The Sales Agreement outlines the offer and sale of the company’s common stock, with a par value of $0.01 per share, through an “at the market offering” program. This program allows Roth Capital Partners to act as a sales agent or principal, subject to specific limitations, including the maximum aggregate dollar amount registered in the applicable prospectus supplement.

As per the prospectus supplement filed by Asure Software on the same day, the company may offer and sell up to $25 million worth of shares of Common Stock under this Sales Agreement. The Sales Agreement provides detailed parameters for the sale of shares, including the number of shares to be issued, the time period for sales, limitations on daily sales, and minimum pricing thresholds.

Under the agreement, Roth Capital Partners may sell the shares of Common Stock through various methods permitted by law, including an “at the market offering” on the NASDAQ Capital Market or other trading platforms. The company retains the right to suspend or terminate solicitation and offers under the Sales Agreement at any time. In return for its services, Roth Capital Partners is entitled to compensation of up to 3.0% of the aggregate gross proceeds from each sale made under the agreement.

All sales of shares under the Sales Agreement will be made in accordance with Asure Software’s effective shelf registration statement on Form S-3 (File No. 333-278590) filed with the Securities and Exchange Commission on April 19, 2024, and declared effective on the same day, supplemented by a prospectus supplement dated October 31, 2024.

The validity of the Common Stock issued in the offering is backed by an opinion from Cozen O’Connor P.C., which is included as an exhibit to the Current Report on Form 8-K. Asure Software clarified that this report does not constitute an offer to sell securities and emphasizes that any sale of securities will comply with applicable securities laws.

Alongside the Sales Agreement, other exhibits filed by Asure Software include the Legal Opinion of Cozen O’Connor P.C., a consent, and a Cover Page Interactive Data File embedded with the Inline XBRL document. John Pence, the Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer of Asure Software, signed the report on behalf of the company according to the requirements of the Securities Exchange Act of 1934.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Asure Software’s 8K filing here.

Asure Software Company Profile

Asure Software, Inc engages in the provision of cloud-based Human Capital Management (HCM) software solutions in the United States. It provides its human resources (HR) tool as Software-as-a-Service that helps various small and medium-sized businesses to build productive workforce to help them stay compliant and allocate resources to grow their business.