Pricing of $35.1 Million Common Stock Offering

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<p><strong>Mountain View, Calif. &mdash; May 21</strong><br />SumTotal Systems has obtained commitments to purchase shares of its common stock in a registered direct offering of about $35.1 million at $6.50 per share. </p><p>Participants in the financing included several new institutional investors. </p><p>The shares were offered through a prospectus supplement pursuant to the company&#39;s effective shelf registration statement. The offering is expected to close May 23 and is subject to the satisfaction or waiver of certain customary conditions.<br /><br />RBC Capital Markets is acting as sole placement agent for the transaction. The shares of common stock may be offered only by means of a prospectus. </p><p>A shelf registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. </p><p>This press release does not constitute an offer to sell or<br />the solicitation of an offer to buy, and these securities cannot be sold in any jurisdiction in which this offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.<br /><br />&quot;This transaction will be used for general corporate purposes, to potentially repay or prepay our debt and/or investments and acquisitions,&quot; Don Fowler, SumTotal CEO, said. &quot;The additional cash will provide greater working capital and position us to grow within our core learning and performance management business and to expand into other areas of talent management.&quot;</p>

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