inContact – SAAS – Public offering of 7 million shares

NASDAQ: SAAS), announced the pricing of its previously announced underwritten public offering of 7,000,000 shares of its common stock at a price to the public of $5.00 per share. The offering is expected to close on September 18, 2012, subject to customary closing conditions. We also granted the underwriter a 30-day option to purchase up to an additional 1,000,000 shares of our common stock to cover overallotments, if any. The gross proceeds to inContact from this offering are expected to be $35.0 million, and after deducting the underwriting discount and estimated offering expenses payable by us, we expect to receive net proceeds of approximately $32.7 million assuming the underwriter does not exercise its option to purchase additional shares of common stock. All of the shares are being offered by inContact.

We intend to use the net proceeds from the offering for general corporate purposes, including capital expenditures on cloud facilities and infrastructure, marketing, client services and development of intellectual property. We may also use the net proceeds to acquire or invest in businesses, services, and technologies that are complementary to our own, although we have no present commitments or agreements to make any such acquisitions or investments.

Piper Jaffray & Co. is acting as sole manager for the offering.

About inContact – SAAS

inContact, Inc. (SAAS) helps contact centers around the globe create profitable customer experiences through its powerful portfolio of cloud contact center software solutions. Their services and solutions enable contact centers to operate more efficiently, optimize the cost and quality of every customer interaction, create new pathways to profit and ensure ongoing customer-centric business improvement and growth.

inContact began as a reseller of telecommunications services in 1997 and has evolved to become the leading provider of cloud-based call center solutions and the only company to pair a software offering with network connectivity. Industry analysts have confirmed the company’s leadership position in the market

inContact, Inc. (SAAS) is a provider of cloud-based contact center solutions. The Company operates in two segments: Software and Telecom. The Software segment includes all monthly recurring revenue related to the delivery of its inContact portfolio of software applications plus the associated professional services and setup fees related to the software services product features. The Telecom segment includes all voice and data long distance services provided to customers. The inContact portfolio includes automatic call distribution (ACD) with skills-based routing, interactive voice response (IVR) with speech recognition, computer telephony integration (CTI) capabilities, reporting, workforce optimization, e-learning, contact center agent hiring and customer feedback measurement tools. Taken together, the inContact cloud-based platform creates an integrated solution for call centers, including those with distributed workforces , either at-home or multi-site.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.