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EXHIBIT 99.1
EGAIN COMMUNICATIONS RAISES
$ 88.5 MILLION IN PRIVATE PLACEMENT
SUNNYVALE, Calif. (August 9, 2000) - eGain Communications Corporation
(Nasdaq:EGAN), a leading provider of customer service software for the Internet,
today announced that it has entered into definitive agreements with new and
existing investors for the private placement of $ 88,500,000 of convertible
preferred stock and warrants.
The investors include Oak Hill Capital Partners and its affiliates, and
eGain's co-founder and President, Gunjan Sinha, as well as new investors
Deutsche Bank; Societe Generale; Elliott Associates, L.P.; and the Palladin
Group, L.P. The convertible preferred stock accretes in kind at 6.75% per
annum. Investors will also receive warrants to purchase approximately 3.8
million shares of common stock at $9.25 per share. eGain intends to use the net
proceeds from this private placement for general corporate purposes.
About eGain Communications Corp.
eGain (Nasdaq:EGAN) is a leading provider of customer service software for the
Internet. To help businesses deliver a superior customer experience and
establish profitable, long-term customer relationships, eGain offers licensed
and hosted applications for email management, interactive Web and voice
collaboration, intelligent self-help agents, and proactive online marketing.
Built using a Web-native architecture, the eGain platform provides robust
scalability, global access, diverse integration, and rapid deployment. Based in
Sunnyvale, California, with offices worldwide, eGain has more than 600
customers, including 3Com, RealNetworks, Walgreens, Freddie Mac and CNBC.com.
For information about eGain, please visit www.eGain.com or call the company's
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offices - US: (888) 603-4246; London: +44 (0) 175 377 1100; Sydney: +612 9492
5400.
Cautionary Note Regarding Forward-looking Statements under the Private
Securities Litigation Reform Act: The statements contained in this press
release that are not purely historical are forward-looking statements within the
meaning of the Securities and Exchange Act of 1934, including statements based
on eGain's current expectations, beliefs, intentions or strategies, as well as a
number of assumptions about future events. These forward-looking statements are
subject to important factors and uncertainties that could cause actual results
to differ materially from those described in this release. The following
factors, among others, could cause actual results to differ materially from
those described in these forward-looking statements: the successful integration
of Inference Corporation into our product plans and business activities;
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increased competition and technological changes in the industries in which eGain
competes; our ability to manage growth; intense competition for qualified
employees; and our ability to make prudent use of the funds raised in the
private offering described above. For a detailed discussion of these and other
cautionary statements about factors that may affect our actual results, please
refer to eGain's filings with the Securities and Exchange Commission (the
"SEC"'), including the Company's registration statement on Form S-4 declared
effective by the SEC on May 17, 2000, our quarterly filings on Form 10-Q and our
other SEC filings.
Contact information:
Harpreet Grewal
Chief Financial Officer
(408) 212-3362
[email protected]
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