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SPOKANE, Wash., March 23, 2021 (GLOBE NEWSWIRE) -- Kaspien (NASDAQ: KSPN) ("Kaspien" or the "Company"), a leading ecommerce marketplace growth platform, has appointed Gateway Investor Relations, a leading strategic financial communications and capital markets advisory firm, to manage its expanded investor relations program initiatives, including providing corporate messaging and other consulting services to the Company.
Gateway will work closely with Kaspien management over the coming months to develop and deploy a comprehensive outreach and communications program. Activities will include but are not limited to: refining overall company and investment-oriented messaging and corporate positioning, strategic advisory services, and introductions to institutional investors, sell-side analysts and other key influencers in the broader financial community. Gateway will also assist in organizing road shows and securing invitations to select financial conferences and events, including its annual Gateway Conference.
Last week, the Company successfully conducted and closed a bought deal common stock offering, generating gross proceeds of $13.5 million. In addition to providing working capital for general corporate purposes, the funds will be used to support Kaspien’s expanded growth initiatives, including its recently announced brand acquisition strategy. Having partnered with 4,000 brands to-date, Kaspien believes it has high-quality data to identify and acquire brands that should materially benefit from its comprehensive ecommerce industry expertise and technology platform.
“One of many commercial impacts of the pandemic has been the accelerated growth within global ecommerce, which has become a crucial channel for larger brands and a primary means of business for everyday sole proprietors in the last few years,” said Kaspien CEO, Kunal Chopra. “Our business provides comprehensive seller services on the largest ecommerce platforms today, representing an estimated $1.0 trillion potential market. This massive opportunity, combined with our hard-won subject matter expertise and current industry tailwinds, have Kaspien positioned for significant growth, which we plan to accelerate this year. With the funds from our recent capital raise, we will be looking to acquire complementary brands, backed by highly relevant supporting data, that we believe can have an outsized benefit once integrated into our platform.
“These positive developments considered, we believe the Kaspien story would be well received through an increased outreach and communications program. Our partnership with Gateway will allow us to engage with a broader audience of investors, ensuring that our message is being understood and appreciated. We look forward to working with the Gateway team over the coming months to refine our investment thesis and leverage their capital markets network to raise Kaspien’s profile.”
Kaspien (NASDAQ: KSPN) is a leading ecommerce marketplace growth platform, offering an expanding suite of software and services to help brands grow on Amazon, Walmart, Target, eBay, and other online marketplaces. Founded in 2008 in Spokane, Wash., Kaspien has spent over a decade building and utilizing proprietary technologies for brand protection, marketing optimization, and fulfillment efficiency to generate rapid revenue growth for Kaspien partners. Through innovative strategies and best-in-class technologies, Kaspien has earned the trust of many leading brands, including 3M, Strider Bikes, and ZippyPaws. For more information, visit kaspien.com.
About Gateway Investor Relations
Gateway is a leading strategic communications and capital markets advisory firm. For more than 20 years, the firm has delivered superior performance in strategic consulting, corporate messaging and positioning, investor awareness, and analyst and financial press coverage. Gateway executives have extensive experience in capital markets and financial communications, and represent clients in a wide range of industries, including technology, consumer, industrials, financial services, and business services. To learn more, please visit gatewayir.com. Make sure to follow us on Twitter, LinkedIn and Facebook.
Certain statements in this release set forth management’s intentions, plans, beliefs, expectations or predictions of the future based on current facts and analyses. Actual results may differ materially from those indicated in such statements. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the Securities and Exchange Commission.
Chief Financial Officer
Investor Relations Contact
Gateway Investor Relations
Matt Glover and Tom Colton