MCLEAN, Va., July 25, 2014 /PRNewswire/ -- CYREN
(NASDAQ: CYRN) announced earlier today the pricing of a registered
direct offering of 4,771,796 shares and warrants to purchase
1,670,128 ordinary shares with certain institutional investors in
combinations consisting of one ordinary share and one warrant to
purchase 0.35 of an ordinary share at an offering price per fixed
combination of $2.41. Each warrant
will have an exercise price of $3.08
per share and will be exercisable following the six-month
anniversary of the date of its issuance. CYREN will receive
gross proceeds of $11.5 million
before deducting placement agent fees and offering expenses (but
excluding any proceeds to be received upon exercise of the
warrants).
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 the registration or
qualification under the securities laws of such state or
jurisdiction.
This press release contains forward-looking statements,
including projections about our business, within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. For example, statements in the
future tense, and statements including words such as "expect,"
"plan," "estimate," "anticipate," or "believe" are forward-looking
statements. These statements are based on information available to
us at the time of the press release; we assume no obligation to
update any of them. The statements in this press release are not
guarantees of future performance and actual results could differ
materially from our current expectations as a result of numerous
factors, including business conditions and growth or deterioration
in the internet security market, technological developments,
products offered by competitors, availability of qualified staff,
and technological difficulties and resource constraints encountered
in developing new products, as well as those risks described in the
company's Annual Reports on Form 20-F and reports on Form 6-K,
which are available through www.sec.gov.
U.S. Investor Contact:
Monica Gould
The Blueshirt
Group
+1 212 871
3927
monica@blueshirtgroup.com
CYREN Company
Contact:
Mike Myshrall, Interim
CFO
CYREN
+1 703 760
3320
mike.myshrall@CYREN.com
CYREN Media Contact:
Matthew Zintel
Zintel Public Relations
+1 281 444 1590
matthew.zintel@zintelpr.com
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SOURCE CYREN