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Press release from Business Wire

ChannelAdvisor Announces Pricing of Follow-On Offering

Tuesday, November 05, 2013

ChannelAdvisor Announces Pricing of Follow-On Offering

18:34 EST Tuesday, November 05, 2013

RESEARCH TRIANGLE PARK, N.C. (Business Wire) -- ChannelAdvisor Corporation (NYSE: ECOM), a leading provider of cloud-based e-commerce solutions that enable retailers and manufacturers to increase global sales, today announced the pricing of a follow-on offering of 5,000,000 shares of its common stock at a price of $34.00 per share, before underwriting discounts. ChannelAdvisor is selling 1,000,000 shares of common stock in this offering, and certain existing stockholders are selling 4,000,000 shares of common stock in this offering. In addition, certain of the existing stockholders have granted the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock at the public offering price, less the underwriting discount. ChannelAdvisor will not receive any of the proceeds from the sale of shares sold by the selling stockholders. The offering is expected to close on or about November 12, 2013.

ChannelAdvisor intends to use proceeds from the offering for working capital and other general corporate purposes, including further expansion of its sales and marketing capabilities and international operations.

Goldman, Sachs & Co. is acting as the lead book-running manager for the proposed offering. Stifel, Nicolaus & Company, Incorporated is acting as book-running manager. BMO Capital Markets Corp., Needham & Company, LLC, Pacific Crest Securities LLC, Raymond James & Associates, Inc. and Robert W. Baird & Co. Incorporated are acting as co-managers.

This offering is being made only by means of a prospectus, copies of which may be obtained, when available, by contacting Goldman, Sachs & Co. at 200 West Street, New York, New York 10282, Attention: Prospectus Department, by calling (866) 471-2526 or emailing prospectus-ny@ny.email.gs.com.

A registration statement relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission on November 5, 2013.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About ChannelAdvisor

ChannelAdvisor (NYSE: ECOM) is a leading provider of cloud-based e-commerce solutions that enable retailers and manufacturers to integrate, manage and optimize their merchandise sales across hundreds of online channels including Amazon, Google, eBay, Facebook and more. Through automation, analytics and optimization, ChannelAdvisor customers can leverage a single inventory feed to more efficiently list and advertise products online, and connect with shoppers to increase sales.

Media Contact:
ICR
Kim Paone, 646-277-1216
kim.paone@icrinc.com
or
Investor Contact:
ICR
Garo Toomajanian, 919-228-2003
ir@channeladvisor.com

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